Get Adobe Flash player

Obama

What’s the Real State of the Union? These Numbers May Tell

From The Blaze:

A day before President Obama delivers his third State of the Union Address, his political opponents are lining up their responses. Speaker John Boehner has already printed a pamphlet to back up his positions.

It is doubtful that the President and the Speaker will see eye to eye on many things. Presented below are some basic statistics about the country. The numbers have been culled from a Washington Times Op-Ed from Joseph Curl

In the area of jobs and unemployment:

  • Unemployment currently sits at 8.5%. When Obama took office, it was 6.8%.
  • There are fewer payroll jobs in America than there were in 2000, and 40% of those are considered to be “low-paying.”
  • Also in decline, the self-employed. In the past six years, two million fewer people consider themselves to be self-employed.

In January, USA Today quoted GOP presidential candidate Newt Gingrich on the unemployment problem since Obama took office:

“Three full years into the Obama presidency, and there are still 1.7 million fewer Americans going to work today than there were on Obama’s Inauguration Day.”

Read the rest at  The Blaze.

Trade, Tires, and Jobs

From The Heritage Foundation:

“Over a thousand Americans are working today because we stopped a surge in Chinese tires,” asserted President Obama in his State of the Union Address. President Obama referred to steep tariffs that his Administration imposed on tires imported from China.

Not everyone sees it that way. According to the Tire Industry Association (TIA):

TIA believes this was a politically motivated decision that will end up costing more jobs than it saves. These tariffs will not bring back the jobs that the union claims have been lost; it will not create any new tire manufacturing jobs, and it will most likely result in the loss of thousands of retail tire industry jobs here in the U.S., affecting everyone from the shop that services your tire to the tire wholesalers—many of whom are small businesspeople struggling to stay afloat in this economy. This, all during a time when we can ill afford to be losing more U.S. jobs.

The Association pointed out that there is more at stake than dollars and cents:

This tariff will price these tires out of reach of many consumers, and will lead to a tightening in the remaining supply of lower-cost tires. Also, given that the lower-cost tires imported from China help those most vulnerable in this current economy—working-class citizens—we are deeply concerned that many consumers may delay or even defer replacing their tires when necessary, thus creating a potential safety hazard on America’s roads.

A recent report in The Wall Street Journal showed how the tariff affected U.S. consumers:

“This is a China tire, it costs me $69 today,” says the owner of Cybert Tire & Car Care in New   York City. “Before it cost $39.” A big part of that increase: The fat tariff the U.S. has placed on Chinese tires. “It all gets passed to the customer.”

The Journal reported that production of tires affected by the U.S. tariffs primarily moved to other countries, not to the United States:

“The tariffs didn’t have any material impact on our North American business,” says Keith Price, a spokesman for Goodyear Tire & Rubber Co., echoing a sentiment expressed by some other manufacturers. “The stuff coming in from China is primarily low end. We got out of that market years [a]go.”

President Obama’s tire tariff reportedly caused China to retaliate by imposing tariffs on U.S. poultry products, threatening jobs in that industry, too. According to The Washington Post:

The blow comes as poultry farmers and manufacturers say they are already feeling financially squeezed between high grain prices and the depressed American economy that has seen lost restaurant sales and lower prices for breast meat.

In his State of the Union Address, President Obama followed up his tire tariff story by calling for a brand new federal bureaucracy to investigate “unfair” foreign trade practices. In fact, the tire tariff is a cautionary tale that should remind policymakers that to the greatest extent possible, the determination of whether a particular transaction is “fair” or “unfair” should be made by the people spending the money, not by officials in Washington, D.C.

Hypocrisy Watch: Obama’s office staff owe $834K in back taxes

From RedState:

Note the term ‘office’ staff: I’m comfortable in assuming that the general White House staff – the cleaners, cooks, gardeners, handymen, and whatnot – are all careful to make sure that their taxes are paid up. If only because the President clearly won’t protect them. Anyway, Andrew Malcolm has the summary: 36 office staff members owe $833,900 in back taxes. Which, by the way, is only moderately more scandalous on a fiscal level than the fact that, in an economy where everybody else is forced to cut back on jobs, the White House staff has increased to be larger than George W Bush’s, in both personnel and budget terms.

It constantly amazes me – honestly, even after four* years of watching this – how incredibly tin-eared the President is when it comes to this sort of thing. Considering what we did to this administration over tax evasion in 2009… there should be a large sign above every entry security checkpoint in the White House (angled so that it can be only seen from the inside) saying PAY YOUR TAXES, YOU FOOLS. And if Barack Obama had the ability to find and keep a competent Chief of Staff, there might have been. Alas, he does not, and so there is not… and fish rot from the head down.

Read the rest at RedState.

Obama Administration Gave Electric Car Battery Maker $118 Million Grant, Company Now Bankrupt

From Big Government:

The latest taxpayer-funded boondoggle to emerge from the Obama Administration’s infamous Energy Department grant and loan program has cost taxpayers $118.5 million, new bankruptcy filings by electric battery maker Ener1 reveal.

From Bloomberg News:

The company listed assets of $73.9 million and debt of $90.5 million as of Dec. 31 in Chapter 11 papers filed today in U.S. Bankruptcy Court in Manhattan. Ener1 has been affected by competing battery developers in China and South Korea, “which generally have a lower cost manufacturing base” and lower labor and raw material costs, interim Chief Executive Officer Alex Sorokin said in the petition.

Like Solyndra, Ener1 was a company touted by President Obama as being a shining example of his vision for taxpayer-subsidized clean energy.

Read the rest at Big Government.

My “State of the Union” Response

Here’s my response to the last State of the Union speech from Barack Hussein Obama:

(see my comments in BOLD.)

Mr. Speaker, Mr. Vice President, members of Congress, distinguished guests, and fellow Americans:

Last month, I went to Andrews Air Force Base and welcomed home some of our last troops to serve in Iraq. Together, we offered a final, proud salute to the colors under which more than a million of our fellow citizens fought – and several thousand gave their lives.

We gather tonight knowing that this generation of heroes has made the United States safer and more respected around the world. For the first time in nine years, there are no Americans fighting in Iraq. For the first time in two decades, Osama bin Laden is not a threat to this country. Most of al Qaeda’s top lieutenants have been defeated. The Taliban’s momentum has been broken, and some troops in Afghanistan have begun to come home.

We’ve abandoned Iraq to be overrun by radical Islam, and soon, we’ll do the same with Afghanistan.

These achievements are a testament to the courage, selflessness, and teamwork of America’s Armed Forces. At a time when too many of our institutions have let us down, they exceed all expectations. They’re not consumed with personal ambition. They don’t obsess over their differences. They focus on the mission at hand. They work together.

The American Military ALWAYS exceeds expectations.

Imagine what we could accomplish if we followed their example. Think about the America within our reach: A country that leads the world in educating its people.

That might happen if we flush the socialist/Marxist professors from our colleges.

An America that attracts a new generation of high-tech manufacturing and high-paying jobs.

That requires a business environment where entrepreneurs can invest in technology without government obstruction in the form of the EPA, IRS, and multiple other Federal agencies, as well as the highest corporate taxes in the world.

A future where we’re in control of our own energy, and our security and prosperity aren’t so tied to unstable parts of the world.

DRILL HERE, DRILL NOW!  Start in my back yard.

An economy built to last, where hard work pays off and responsibility is rewarded.

Impossible while taxing the crap out of hard work.

We can do this. I know we can, because we’ve done it before. At the end of World War II, when another generation of heroes returned home from combat, they built the strongest economy and middle class the world has ever known. My grandfather, a veteran of Patton’s Army, got the chance to go to college on the GI Bill. My grandmother, who worked on a bomber assembly line, was part of a workforce that turned out the best products on Earth.

In a taxation and regulatory environment that we haven’t had since.

The two of them shared the optimism of a Nation that had triumphed over a depression and fascism. They understood they were part of something larger; that they were contributing to a story of success that every American had a chance to share – the basic American promise that if you worked hard, you could do well enough to raise a family, own a home, send your kids to college, and put a little away for retirement.

It was still possible back then.

The defining issue of our time is how to keep that promise alive. No challenge is more urgent. No debate is more important.

Comment here.

We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by.

Class warfare 101.  The reality is that when the ‘rich’ do well, so does everyone else.

Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.

Not likely to happen in an Administration that rejected the Keystone XL pipeline because Warren Buffet’s BNSF Railroad would suffer from the loss of the oil cargo.  “Fair-share” is Democrat-speak for class warfare and “soak the rich”.

What’s at stake are not Democratic values or Republican values, but American values. We have to reclaim them.

True.  That’s why we need to elect a President who cares about American values.

Let’s remember how we got here. Long before the recession, jobs and manufacturing began leaving our shores.

True.  The Democrat Congress of 2006 started the changes that led to the decline.

Technology made businesses more efficient, but also made some jobs obsolete.

Efficiency creates jobs…someone has to tend the machines.

Folks at the top saw their incomes rise like never before, but most hardworking Americans struggled with costs that were growing, paychecks that weren’t, and personal debt that kept piling up.

More class warfare.

In 2008, the house of cards collapsed. We learned that mortgages had been sold to people who couldn’t afford or understand them. Banks had made huge bets and bonuses with other people’s money. Regulators had looked the other way, or didn’t have the authority to stop the bad behavior.

Democrats TOLD banks to write mortgages to people who didn’t meet the criteria, and Fannie Mae/Freddie Mac underwrited them.

It was wrong. It was irresponsible.  And it plunged our economy into a crisis that put millions out of work, saddled us with more debt, and left innocent, hard-working Americans holding the bag. In the six months before I took office, we lost nearly four million jobs. And we lost another four million before our policies were in full effect.

Yep, it was wrong.  Yep, it was irresponsible.  And yep, it tanked the economy.

Those are the facts. But so are these. In the last 22 months, businesses have created more than three million jobs. Last year, they created the most jobs since 2005. American manufacturers are hiring again, creating jobs for the first time since the late 1990s.

True on job creation, but not for the reasons you think. 

Together, we’ve agreed to cut the deficit by more than $2 trillion.

Give me a break.  You have created incredible debt.

And we’ve put in place new rules to hold Wall Street accountable, so a crisis like that never happens again.

Rules that help the big stay big, and kill the small. Good job (not.)

The state of our Union is getting stronger. And we’ve come too far to turn back now.

Barely.  You’re holding it back.

As long as I’m President, I will work with anyone in this chamber to build on this momentum.

Progressives and Democrats only, please.

But I intend to fight obstruction with action, and I will oppose any effort to return to the very same policies that brought on this economic crisis in the first place.

Anything put forward by Republicans.

No, we will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits.

We haven’t left that economy:

  • Outsourcing will continue as long as its cheaper to make things in China and pay to ship them here than it is to make things here in the first place.
  • Obama has run up more debt that all of the previous Presidents combined.
  • Democrat pressure on banks and underwriting by Fannie Mae/Freddie Mac caused banks to write mortgages to anyone with a pulse.

Tonight, I want to speak about how we move forward, and lay out a blueprint for an economy that’s built to last – an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.

You’ve done more to destroy that environment than I can imagine.

This blueprint begins with American manufacturing.

On the day I took office, our auto industry was on the verge of collapse. Some even said we should let it die.

Yes, we should have.

With a million jobs at stake, I refused to let that happen.

The jobs wouldn’t have been lost…the companies that acquire assets in a bankruptcy continue to operate those assets.  The hole in the market created by the loss of GM and Chrysler would have been quickly refilled.

In exchange for help, we demanded responsibility. We got workers and automakers to settle their differences.

By giving half of the companies to the unions.

We got the industry to retool and restructure.

By forcing plant closures and making the remaining plant work three shifts, whether they needed to or not.

Today, General Motors is back on top as the world’s number one automaker.

Because Toyota got earthquaked/tsunamied.

Chrysler has grown faster in the U.S. than any major car company.

As a unit of Fiat.

Ford is investing billions in U.S. plants and factories.

Ford is able to do this because they saw the crash coming, and prepared.

And together, the entire industry added nearly 160,000 jobs. We bet on American workers. We bet on American ingenuity. And tonight, the American auto industry is back.

Back, on life support.

What’s happening in Detroit can happen in other industries. It can happen in Cleveland and Pittsburgh and Raleigh. We can’t bring back every job that’s left our shores.

Not as long as we keep taxing the hell out of American business.

But right now, it’s getting more expensive to do business in places like China.

Because China is beginning to regulate things, but not nearly as tight as America.

Meanwhile, America is more productive. A few weeks ago, the CEO of Master Lock told me that it now makes business sense for him to bring jobs back home. Today, for the first time in fifteen years, Master Lock’s unionized plant in Milwaukee is running at full capacity.

Master Lock is an exception to the rule.

So we have a huge opportunity, at this moment, to bring manufacturing back. But we have to seize it. Tonight, my message to business leaders is simple: Ask yourselves what you can do to bring jobs back to your country, and your country will do everything we can to help you succeed.

  • Cut corporate taxes
  • Dissolve the EPA
  • Repeal Dodd-Frank

We should start with our tax code. Right now, companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and everyone knows it.

True.  Now fix it by lowering corporate taxes.

So let’s change it. First, if you’re a business that wants to outsource jobs, you shouldn’t get a tax deduction for doing it. That money should be used to cover moving expenses for companies like Master Lock that decide to bring jobs home.

Taking away tax deductions = raising taxes.  Wrong direction.

Second, no American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. From now on, every multinational company should have to pay a basic minimum tax. And every penny should go towards lowering taxes for companies that choose to stay here and hire here.

More taxation…

Third, if you’re an American manufacturer, you should get a bigger tax cut. If you’re a high-tech manufacturer, we should double the tax deduction you get for making products here. And if you want to relocate in a community that was hit hard when a factory left town, you should get help financing a new plant, equipment, or training for new workers.

Tax cuts = good…Government loans with strings attached = bad.

My message is simple. It’s time to stop rewarding businesses that ship jobs overseas, and start rewarding companies that create jobs right here in America. Send me these tax reforms, and I’ll sign them right away.

No thanks.

We’re also making it easier for American businesses to sell products all over the world. Two years ago, I set a goal of doubling U.S. exports over five years. With the bipartisan trade agreements I signed into law, we are on track to meet that goal – ahead of schedule. Soon, there will be millions of new customers for American goods in Panama, Colombia, and South Korea. Soon, there will be new cars on the streets of Seoul imported from Detroit, and Toledo, and Chicago.

That only the upper-crust can afford, due to the cost of American products overseas.

I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don’t play by the rules. We’ve brought trade cases against China at nearly twice the rate as the last administration – and it’s made a difference. Over a thousand Americans are working today because we stopped a surge in Chinese tires. But we need to do more. It’s not right when another country lets our movies, music, and software be pirated. It’s not fair when foreign manufacturers have a leg up on ours only because they’re heavily subsidized.

Tonight, I’m announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trade practices in countries like China. There will be more inspections to prevent counterfeit or unsafe goods from crossing our borders. And this Congress should make sure that no foreign company has an advantage over American manufacturing when it comes to accessing finance or new markets like Russia. Our workers are the most productive on Earth, and if the playing field is level, I promise you – America will always win.

More regulations…yippee.  And if you think that we’re going to slap China around…remember who holds most of our debt.

I also hear from many business leaders who want to hire in the United States but can’t find workers with the right skills. Growing industries in science and technology have twice as many openings as we have workers who can do the job. Think about that – openings at a time when millions of Americans are looking for work.

Our broken schools aren’t turning out enough good high school students.

That’s inexcusable. And we know how to fix it.

Really…

Jackie Bray is a single mom from North Carolina who was laid off from her job as a mechanic. Then Siemens opened a gas turbine factory in Charlotte, and formed a partnership with Central Piedmont Community College. The company helped the college design courses in laser and robotics training. It paid Jackie’s tuition, then hired her to help operate their plant.

Private investment in employees…excellent.

I want every American looking for work to have the same opportunity as Jackie did. Join me in a national commitment to train two million Americans with skills that will lead directly to a job. My Administration has already lined up more companies that want to help. Model partnerships between businesses like Siemens and community colleges in places like Charlotte, Orlando, and Louisville are up and running. Now you need to give more community colleges the resources they need to become community career centers – places that teach people skills that local businesses are looking for right now, from data management to high-tech manufacturing.

Government spending in colleges…not good.

And I want to cut through the maze of confusing training programs, so that from now on, people like Jackie have one program, one website, and one place to go for all the information and help they need. It’s time to turn our unemployment system into a reemployment system that puts people to work.

One place, controlled by government.

These reforms will help people get jobs that are open today. But to prepare for the jobs of tomorrow, our commitment to skills and education has to start earlier.

For less than one percent of what our Nation spends on education each year, we’ve convinced nearly every State in the country to raise their standards for teaching and learning – the first time that’s happened in a generation.

Spending more money on education doesn’t improve education.

But challenges remain. And we know how to solve them.

At a time when other countries are doubling down on education, tight budgets have forced States to lay off thousands of teachers. We know a good teacher can increase the lifetime income of a classroom by over $250,000. A great teacher can offer an escape from poverty to the child who dreams beyond his circumstance. Every person in this chamber can point to a teacher who changed the trajectory of their lives. Most teachers work tirelessly, with modest pay, sometimes digging into their own pocket for school supplies – just to make a difference.

Teachers matter. So instead of bashing them, or defending the status quo, let’s offer schools a deal. Give them the resources to keep good teachers on the job, and reward the best ones. In return, grant schools flexibility: To teach with creativity and passion; to stop teaching to the test; and to replace teachers who just aren’t helping kids learn.

Get the hell out of education, dissolve the Department of Education, and just watch the flexibility.

We also know that when students aren’t allowed to walk away from their education, more of them walk the stage to get their diploma. So tonight, I call on every State to require that all students stay in high school until they graduate or turn eighteen.

Graduating is great, and everyone should do it.  But, there are sometimes kids who can’t finish school, for various reasons.

When kids do graduate, the most daunting challenge can be the cost of college. At a time when Americans owe more in tuition debt than credit card debt, this Congress needs to stop the interest rates on student loans from doubling in July. Extend the tuition tax credit we started that saves middle-class families thousands of dollars.

Good moves.

And give more young people the chance to earn their way through college by doubling the number of work-study jobs in the next five years.

How?  You can’t artificially create jobs.

Of course, it’s not enough for us to increase student aid. We can’t just keep subsidizing skyrocketing tuition; we’ll run out of money. States also need to do their part, by making higher education a higher priority in their budgets. And colleges and universities have to do their part by working to keep costs down. Recently, I spoke with a group of college presidents who’ve done just that. Some schools re-design courses to help students finish more quickly. Some use better technology. The point is, it’s possible. So let me put colleges and universities on notice: If you can’t stop tuition from going up, the funding you get from taxpayers will go down. Higher education can’t be a luxury – it’s an economic imperative that every family in America should be able to afford.

This chatter is getting dangerously close to a ‘right to college’…right out of the Communist Manifesto.

Let’s also remember that hundreds of thousands of talented, hardworking students in this country face another challenge: The fact that they aren’t yet American citizens.

Then why are they here in our colleges??

Many were brought here as small children, are American through and through, yet they live every day with the threat of deportation.

And they should be deported.  Look up Operation Wetback for reference.

Others came more recently, to study business and science and engineering, but as soon as they get their degree, we send them home to invent new products and create new jobs somewhere else.

If they are here illegally, send them home.  If they came here on an education visa, they were always going to go home.

That doesn’t make sense.

Makes sense to me.

I believe as strongly as ever that we should take on illegal immigration. That’s why my Administration has put more boots on the border than ever before. That’s why there are fewer illegal crossings than when I took office.

Fewer that we know about through the non-fenced border.

The opponents of action are out of excuses. We should be working on comprehensive immigration reform right now. But if election-year politics keeps Congress from acting on a comprehensive plan, let’s at least agree to stop expelling responsible young people who want to staff our labs, start new businesses, and defend this country. Send me a law that gives them the chance to earn their citizenship. I will sign it right away.

Get to the back of the line like everyone else.

You see, an economy built to last is one where we encourage the talent and ingenuity of every person in this country. That means women should earn equal pay for equal work. It means we should support everyone who’s willing to work; and every risk-taker and entrepreneur who aspires to become the next Steve Jobs.

I support every CITIZEN. All others are not eligible.

After all, innovation is what America has always been about. Most new jobs are created in start-ups and small businesses. So let’s pass an agenda that helps them succeed. Tear down regulations that prevent aspiring entrepreneurs from getting the financing to grow. Expand tax relief to small businesses that are raising wages and creating good jobs. Both parties agree on these ideas. So put them in a bill, and get it on my desk this year.

These bills always get mired down with pork and other stupid things that we can’t allow.

Innovation also demands basic research. Today, the discoveries taking place in our federally-financed labs and universities could lead to new treatments that kill cancer cells but leave healthy ones untouched. New lightweight vests for cops and soldiers that can stop any bullet. Don’t gut these investments in our budget. Don’t let other countries win the race for the future. Support the same kind of research and innovation that led to the computer chip and the Internet; to new American jobs and new American industries.

Private enterprise can support these things without government assistance.

Nowhere is the promise of innovation greater than in American-made energy. Over the last three years, we’ve opened millions of new acres for oil and gas exploration, and tonight, I’m directing my Administration to open more than 75 percent of our potential offshore oil and gas resources.

We’ve heard that before…right before the Gulf Oil Spill and total moratorium on drilling…how convenient.

Right now, American oil production is the highest that it’s been in eight years. That’s right – eight years. Not only that – last year, we relied less on foreign oil than in any of the past sixteen years.

The high price of oil is driving this, despite government blocking the path.

But with only 2 percent of the world’s oil reserves, oil isn’t enough.

Grossly underestimated.  The oil’s there.  We have plenty of time to allow private development of other energy sources.

This country needs an all-out, all-of-the-above strategy that develops every available source of American energy – a strategy that’s cleaner, cheaper, and full of new jobs.

DRILL HERE, DRILL NOW!

We have a supply of natural gas that can last America nearly one hundred years, and my Administration will take every possible action to safely develop this energy. Experts believe this will support more than 600,000 jobs by the end of the decade. And I’m requiring all companies that drill for gas on public lands to disclose the chemicals they use. America will develop this resource without putting the health and safety of our citizens at risk.

More regulations.

The development of natural gas will create jobs and power trucks and factories that are cleaner and cheaper, proving that we don’t have to choose between our environment and our economy. And by the way, it was public research dollars, over the course of thirty years, that helped develop the technologies to extract all this natural gas out of shale rock – reminding us that Government support is critical in helping businesses get new energy ideas off the ground.

It would have happened, with or without government.

What’s true for natural gas is true for clean energy.

No, it’s not.  Clean energy is expensive.

In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries. Because of federal investments, renewable energy use has nearly doubled. And thousands of Americans have jobs because of it.

Federal spending on boondoggle projects that will never be self-supporting.

When Bryan Ritterby was laid off from his job making furniture, he said he worried that at 55, no one would give him a second chance. But he found work at Energetx, a wind turbine manufacturer in Michigan. Before the recession, the factory only made luxury yachts. Today, it’s hiring workers like Bryan, who said, “I’m proud to be working in the industry of the future.”

What’s wrong with luxury yachts?  Oh yeah, you’re trying to destroy the rich, and then they won’t be able to buy yachts.

Our experience with shale gas shows us that the payoffs on these public investments don’t always come right away.

Or ever.

Some technologies don’t pan out; some companies fail.

Like Solyndra…even after massive Federal spending.

But I will not walk away from the promise of clean energy.

Oh, joy.

I will not walk away from workers like Bryan.

Bryan could still be making yachts.

I will not cede the wind or solar or battery industry to China or Germany because we refuse to make the same commitment here. We have subsidized oil companies for a century. That’s long enough. It’s time to end the taxpayer giveaways to an industry that’s rarely been more profitable, and double-down on a clean energy industry that’s never been more promising. Pass clean energy tax credits and create these jobs.

More boondoggle spending on projects that will NEVER be profitable.

We can also spur energy innovation with new incentives. The differences in this chamber may be too deep right now to pass a comprehensive plan to fight climate change.

Here we go…should I show you the emails from England?

But there’s no reason why Congress shouldn’t at least set a clean energy standard that creates a market for innovation. So far, you haven’t acted. Well tonight, I will. I’m directing my Administration to allow the development of clean energy on enough public land to power three million homes.

More boondoggle spending on projects that will NEVER be profitable.

And I’m proud to announce that the Department of Defense, the world’s largest consumer of energy, will make one of the largest commitments to clean energy in history – with the Navy purchasing enough capacity to power a quarter of a million homes a year.

Energy that’s more expensive that conventional sources.

Of course, the easiest way to save money is to waste less energy. So here’s another proposal: Help manufacturers eliminate energy waste in their factories and give businesses incentives to upgrade their buildings. Their energy bills will be $100 billion lower over the next decade, and America will have less pollution, more manufacturing, and more jobs for construction workers who need them. Send me a bill that creates these jobs.

More Federal spending.  Companies can do this without government.  Just get out of the way.

Building this new energy future should be just one part of a broader agenda to repair America’s infrastructure.

Here comes the stimulus package…

So much of America needs to be rebuilt. We’ve got crumbling roads and bridges.

Didn’t we just fix them all with the previous stimulus?

A power grid that wastes too much energy.

Huh?  How?

An incomplete high-speed broadband network that prevents a small business owner in rural America from selling her products all over the world.

Satellite broadband is available everywhere…where’s the problem?

During the Great Depression, America built the Hoover Dam and the Golden Gate Bridge. After World War II, we connected our States with a system of highways. Democratic and Republican administrations invested in great projects that benefited everybody, from the workers who built them to the businesses that still use them today.

In the next few weeks, I will sign an Executive Order clearing away the red tape that slows down too many construction projects. But you need to fund these projects. Take the money we’re no longer spending at war, use half of it to pay down our debt, and use the rest to do some nation-building right here at home.

Ah, there’s the stimulus…I knew it was here somewhere.

There’s never been a better time to build, especially since the construction industry was one of the hardest-hit when the housing bubble burst. Of course, construction workers weren’t the only ones hurt. So were millions of innocent Americans who’ve seen their home values decline.

Back to where prices should have been all along.  The bubble was created by the same forces that caused the financial meltdown.

And while Government can’t fix the problem on its own, responsible homeowners shouldn’t have to sit and wait for the housing market to hit bottom to get some relief.

That’s why I’m sending this Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low interest rates. No more red tape. No more runaround from the banks. A small fee on the largest financial institutions will ensure that it won’t add to the deficit, and will give banks that were rescued by taxpayers a chance to repay a deficit of trust.

More regulation and taxation.

Let’s never forget: Millions of Americans who work hard and play by the rules every day deserve a Government and a financial system that do the same.

Rules for the government are in the Constitution…you should try reading it.  The financial system would be fine if failure were allowed.  The free market will cause the financial system to self-regulate.  You destroyed that with the Community Reinvestment Act and by pressuring banks to make bad loans.

It’s time to apply the same rules from top to bottom: No bailouts, no handouts, and no copouts.

You have been the most class-divisive President in history.  Fat chance of this happening.

An America built to last insists on responsibility from everybody.

No, an America built to last insists on INDIVIDUAL RESPONSIBILITY.  There’s a difference.

We’ve all paid the price for lenders who sold mortgages to people who couldn’t afford them, and buyers who knew they couldn’t afford them.

…a situation caused by the Community Reinvestment Act, and pressure from Democrats to make those loans.

That’s why we need smart regulations to prevent irresponsible behavior. Rules to prevent financial fraud, or toxic dumping, or faulty medical devices, don’t destroy the free market. They make the free market work better.

Regulation NEVER make the free market work better.  Need a definition of the word ‘FREE’?

There is no question that some regulations are outdated, unnecessary, or too costly.

True.  I’d say ‘most’.

In fact, I’ve approved fewer regulations in the first three years of my presidency than my Republican predecessor did in his.

That’s because he was a big-government progressive too.

I’ve ordered every federal agency to eliminate rules that don’t make sense. We’ve already announced over 500 reforms, and just a fraction of them will save business and citizens more than $10 billion over the next five years. We got rid of one rule from 40 years ago that could have forced some dairy farmers to spend $10,000 a year proving that they could contain a spill – because milk was somehow classified as an oil.

Good, but not nearly enough.

With a rule like that, I guess it was worth crying over spilled milk.

Ba-dum-tshhhh….first joke…ha ha.

I’m confident a farmer can contain a milk spill without a federal agency looking over his shoulder.

Yes, they can.

But I will not back down from making sure an oil company can contain the kind of oil spill we saw in the Gulf two years ago.

BP wouldn’t have been exploring in 5000 feet of water if your policies regarding off-shore drilling hadn’t pushed it there.

I will not back down from protecting our kids from mercury pollution, or making sure that our food is safe and our water is clean.

Good things, but the States can handle it.

I will not go back to the days when health insurance companies had unchecked power to cancel your policy, deny you coverage, or charge women differently from men.

How about allowing insurance companies to sell their products across state lines?  Then, the market will cause them to improve their terms.

And I will not go back to the days when Wall Street was allowed to play by its own set of rules. The new rules we passed restore what should be any financial system’s core purpose: Getting funding to entrepreneurs with the best ideas, and getting loans to responsible families who want to buy a home, start a business, or send a kid to college.

More rules NEVER encourage more business.

So if you’re a big bank or financial institution, you are no longer allowed to make risky bets with your customers’ deposits. You’re required to write out a “living will” that details exactly how you’ll pay the bills if you fail – because the rest of us aren’t bailing you out ever again.

Uh-huh.  What about Dodd-Frank?  It’s a perpetual bailout.

And if you’re a mortgage lender or a payday lender or a credit card company, the days of signing people up for products they can’t afford with confusing forms and deceptive practices are over. Today, American consumers finally have a watchdog in Richard Cordray with one job: To look out for them.

By heading an unconstitutional arm of the Federal Reserve, and by imposing more rules and regulations?  This will simply STOP credit, not regulate it.

We will also establish a Financial Crimes Unit of highly trained investigators to crack down on large-scale fraud and protect people’s investments. Some financial firms violate major anti-fraud laws because there’s no real penalty for being a repeat offender. That’s bad for consumers, and it’s bad for the vast majority of bankers and financial service professionals who do the right thing. So pass legislation that makes the penalties for fraud count.

So, what about allowing MF Global to raid the accounts of its smaller customers to pay off JP Morgan Chase?  An unbelieveable violation of trust.

And tonight, I am asking my Attorney General to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis. This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans.

Again, clamping down on credit will simply STOP credit.  Who would take the chance of extending credit when the Feds are knocking on the door?

A return to the American values of fair play and shared responsibility will help us protect our people and our economy. But it should also guide us as we look to pay down our debt and invest in our future.

‘Fair play’ and ‘shared responsibility’ are code words for socialism.  How about a ‘fair shot’ and individual responsibility’?

Right now, our most immediate priority is stopping a tax hike on 160 million working Americans while the recovery is still fragile. People cannot afford losing $40 out of each paycheck this year. There are plenty of ways to get this done. So let’s agree right here, right now: No side issues. No drama. Pass the payroll tax cut without delay.

Yes, and stop the Democrats from attaching unacceptable provisions to the bill.

When it comes to the deficit, we’ve already agreed to more than $2 trillion in cuts and savings.

After creating more debt than all of the prior Presidents.

But we need to do more, and that means making choices. Right now, we’re poised to spend nearly $1 trillion more on what was supposed to be a temporary tax break for the wealthiest 2 percent of Americans. Right now, because of loopholes and shelters in the tax code, a quarter of all millionaires pay lower tax rates than millions of middle-class households. Right now, Warren Buffett pays a lower tax rate than his secretary.

How about a flat tax?  Or the FairTax?…didn’t think so.

Do we want to keep these tax cuts for the wealthiest Americans? Or do we want to keep our investments in everything else – like education and medical research; a strong military and care for our veterans? Because if we’re serious about paying down our debt, we can’t do both.

Repeal Obamacare, and we could do both.

The American people know what the right choice is.

Anybody but YOU in November.

So do I. As I told the Speaker this summer, I’m prepared to make more reforms that rein in the long term costs of Medicare and Medicaid, and strengthen Social Security, so long as those programs remain a guarantee of security for seniors.

Kill Medicaid and return the money to the States.  Phase out Medicare and Social Security.  Problem solved.

But in return, we need to change our tax code so that people like me, and an awful lot of Members of Congress, pay our fair share of taxes.

More class warfare.  Here it comes.

Tax reform should follow the Buffett rule: If you make more than $1 million a year, you should not pay less than 30 percent in taxes. And my Republican friend Tom Coburn is right: Washington should stop subsidizing millionaires. In fact, if you’re earning a million dollars a year, you shouldn’t get special tax subsidies or deductions. On the other hand, if you make under $250,000 a year, like 98 percent of American families, your taxes shouldn’t go up. You’re the ones struggling with rising costs and stagnant wages. You’re the ones who need relief.

Yep, thought so. 

Now, you can call this class warfare all you want.

I do.

But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense.

It’s apples and oranges.  I would bet that in Dollars, Warren Buffet paid far more in taxes than his secretary.

We don’t begrudge financial success in this country. We admire it.

coughBULL$%#^!cough

When Americans talk about folks like me paying my fair share of taxes, it’s not because they envy the rich.

Wrong…you created this environment.  Thanks for Occupy, you idiot.

It’s because they understand that when I get tax breaks I don’t need and the country can’t afford, it either adds to the deficit, or somebody else has to make up the difference – like a senior on a fixed income; or a student trying to get through school; or a family trying to make ends meet.

We are making up the difference for the incredibly wasteful spending you have created, not your tax break.  Others receive the tax breaks and use them to create jobs.

That’s not right. Americans know it’s not right.

Damn straight.

They know that this generation’s success is only possible because past generations felt a responsibility to each other, and to their country’s future, and they know our way of life will only endure if we feel that same sense of shared responsibility. That’s how we’ll reduce our deficit. That’s an America built to last.

WRONG! Again, INDIVIDUAL responsibility creates an America built to last.

I recognize that people watching tonight have differing views about taxes and debt; energy and health care. But no matter what party they belong to, I bet most Americans are thinking the same thing right now: Nothing will get done this year, or next year, or maybe even the year after that, because Washington is broken.

Get out of the way so we can fix it.

Can you blame them for feeling a little cynical?

The greatest blow to confidence in our economy last year didn’t come from events beyond our control. It came from a debate in Washington over whether the United States would pay its bills or not. Who benefited from that fiasco?

No one, because Boehner caved in.

I’ve talked tonight about the deficit of trust between Main Street and Wall Street. But the divide between this city and the rest of the country is at least as bad – and it seems to get worse every year.

We don’t trust you, and you think we’re stupid.

Some of this has to do with the corrosive influence of money in politics. So together, let’s take some steps to fix that. Send me a bill that bans insider trading by Members of Congress, and I will sign it tomorrow. Let’s limit any elected official from owning stocks in industries they impact.

Good idea…fat chance it’ll pass the self-serving Congress.

Let’s make sure people who bundle campaign contributions for Congress can’t lobby Congress, and vice versa – an idea that has bipartisan support, at least outside of Washington.

I challenge you to reject your ‘bundled’ money….didn’t think so.

Some of what’s broken has to do with the way Congress does its business these days. A simple majority is no longer enough to get anything – even routine business – passed through the Senate. Neither party has been blameless in these tactics. Now both parties should put an end to it. For starters, I ask the Senate to pass a rule that all judicial and public service nominations receive a simple up or down vote within 90 days.

I seem to remember a similar request from a Republican President to a Democrat Congress several years ago…

The executive branch also needs to change. Too often, it’s inefficient, outdated and remote. That’s why I’ve asked this Congress to grant me the authority to consolidate the federal bureaucracy so that our Government is leaner, quicker, and more responsive to the needs of the American people.

And you promise not to abuse it?…Riiiiight…NO MORE POWER FOR YOU!

Finally, none of these reforms can happen unless we also lower the temperature in this town. We need to end the notion that the two parties must be locked in a perpetual campaign of mutual destruction; that politics is about clinging to rigid ideologies instead of building consensus around common sense ideas.

Then please grow some common sense, and stop destroying America.

I’m a Democrat. But I believe what Republican Abraham Lincoln believed: That Government should do for people only what they cannot do better by themselves, and no more.

You think we are too stupid to do anything…now what?

That’s why my education reform offers more competition, and more control for schools and States.

How about eliminating the Department of Education, and returning it ALL to the States?

That’s why we’re getting rid of regulations that don’t work.

Just clearing the way for new regulations that ‘do’.

That’s why our health care law relies on a reformed private market, not a Government program.

Obamacare relies on KILLING the private market, so government can own the market.

On the other hand, even my Republican friends who complain the most about Government spending have supported federally-financed roads, and clean energy projects, and federal offices for the folks back home.

And I’ll call them out for it as well.

The point is, we should all want a smarter, more effective Government.

How about SMALLER?  Sorry, I forgot who I was talking to…

And while we may not be able to bridge our biggest philosophical differences this year, we can make real progress. With or without this Congress, I will keep taking actions that help the economy grow. But I can do a whole lot more with your help.

So, if Congress is in the way, you’ll go around them.  Nice way to pee on the Constitution.

Because when we act together, there is nothing the United States of America can’t achieve.

True.  But, your ideology prohibits you from working with us.

That is the lesson we’ve learned from our actions abroad over the last few years.

Ending the Iraq war has allowed us to strike decisive blows against our enemies. From Pakistan to Yemen, the al Qaeda operatives who remain are scrambling, knowing that they can’t escape the reach of the United States of America.

Huh?  Ending the Iraq war will allow Iran to take over.

From this position of strength, we’ve begun to wind down the war in Afghanistan. Ten thousand of our troops have come home. Twenty-three thousand more will leave by the end of this summer. This transition to Afghan lead will continue, and we will build an enduring partnership with Afghanistan, so that it is never again a source of attacks against America.

Afghanistan is incapable of partnership.  The country will fall back into the hands of Muslim extremists.

As the tide of war recedes, a wave of change has washed across the Middle East and North Africa, from Tunis to Cairo; from Sana’a to Tripoli. A year ago, Qadhafi was one of the world’s longest-serving dictators – a murderer with American blood on his hands. Today, he is gone. And in Syria, I have no doubt that the Assad regime will soon discover that the forces of change can’t be reversed, and that human dignity can’t be denied.

And, you have now set up the conditions that will allow the Islamic Caliphate to regenerate….nice going.  Maybe you should do some research on the Islamic effect on ‘human dignity’.

How this incredible transformation will end remains uncertain.

Not really…radical Islam is taking over.

But we have a huge stake in the outcome. And while it is ultimately up to the people of the region to decide their fate, we will advocate for those values that have served our own country so well. We will stand against violence and intimidation. We will stand for the rights and dignity of all human beings – men and women; Christians, Muslims, and Jews. We will support policies that lead to strong and stable democracies and open markets, because tyranny is no match for liberty.

Radical Islam rejects all Western values, and believes that all non-Muslims should be KILLED.  So…will we attack them when they start killing their neighbors?

And we will safeguard America’s own security against those who threaten our citizens, our friends, and our interests. Look at Iran. Through the power of our diplomacy, a world that was once divided about how to deal with Iran’s nuclear program now stands as one.

Not really.  Are you willing to bomb Iran’s nuclear program?…I didn’t think so.

The regime is more isolated than ever before; its leaders are faced with crippling sanctions, and as long as they shirk their responsibilities, this pressure will not relent.

But, they still threaten to close the Straits of Hormuz…and we cancel military exercises.  Some pressure.

Let there be no doubt: America is determined to prevent Iran from getting a nuclear weapon, and I will take no options off the table to achieve that goal.

Really?  Will you support the use of nuclear weapons to prevent this?  I DO.

But a peaceful resolution of this issue is still possible, and far better, and if Iran changes course and meets its obligations, it can rejoin the community of nations.

Talking with radical Islam allows them to stall for time while preparing our DEATHS.

The renewal of American leadership can be felt across the globe. Our oldest alliances in Europe and Asia are stronger than ever. Our ties to the Americas are deeper.

Are you nuts?  Running around the globe apologizing for America doesn’t make us stronger.

Our iron-clad commitment to Israel’s security has meant the closest military cooperation between our two countries in history.

I wonder if Benjamin Netanyahu feels that way…

We’ve made it clear that America is a Pacific power, and a new beginning in Burma has lit a new hope.

Burma’s reforms had nothing to do with America.

From the coalitions we’ve built to secure nuclear materials, to the missions we’ve led against hunger and disease; from the blows we’ve dealt to our enemies; to the enduring power of our moral example, America is back.

Not really.

Anyone who tells you otherwise, anyone who tells you that America is in decline or that our influence has waned, doesn’t know what they’re talking about.

Really?  Is that why Iran is threatening an act of war?  Because we’re stronger?

That’s not the message we get from leaders around the world, all of whom are eager to work with us. That’s not how people feel from Tokyo to Berlin; from Cape Town to Rio; where opinions of America are higher than they’ve been in years. Yes, the world is changing; no, we can’t control every event. But America remains the one indispensable nation in world affairs – and as long as I’m President, I intend to keep it that way.

Again, by apologizing for America.

That’s why, working with our military leaders, I have proposed a new defense strategy that ensures we maintain the finest military in the world, while saving nearly half a trillion dollars in our budget.

By slashing it to pieces…yea right.

To stay one step ahead of our adversaries, I have already sent this Congress legislation that will secure our country from the growing danger of cyber-threats.

And crippling the Internet so we can’t collaborate against your socialist activities.

Above all, our freedom endures because of the men and women in uniform who defend it. As they come home, we must serve them as well as they served us. That includes giving them the care and benefits they have earned – which is why we’ve increased annual VA spending every year I’ve been President.

Agreed.  But, I’d bet that the private sector could do a better job with health care.  I’ve been in the ER of a VA hospital at 3am on Wednesday night, and it’s not pretty.

And it means enlisting our veterans in the work of rebuilding our Nation.

With the bipartisan support of this Congress, we are providing new tax credits to companies that hire vets. Michelle and Jill Biden have worked with American businesses to secure a pledge of 135,000 jobs for veterans and their families. And tonight, I’m proposing a Veterans Job Corps that will help our communities hire veterans as cops and firefighters, so that America is as strong as those who defend her.

Good idea, as long as vets are given equal consideration with everyone else.

Which brings me back to where I began. Those of us who’ve been sent here to serve can learn from the service of our troops. When you put on that uniform, it doesn’t matter if you’re black or white; Asian or Latino; conservative or liberal; rich or poor; gay or straight. When you’re marching into battle, you look out for the person next to you, or the mission fails. When you’re in the thick of the fight, you rise or fall as one unit, serving one Nation, leaving no one behind.

You can’t act as a cohesive unit while you are concerned that your bunkmate might be ‘checking you out’ in the shower.  It creates divisions.  Stop using the US Military as a social experiment.

One of my proudest possessions is the flag that the SEAL Team took with them on the mission to get bin Laden. On it are each of their names. Some may be Democrats. Some may be Republicans. But that doesn’t matter. Just like it didn’t matter that day in the Situation Room, when I sat next to Bob Gates – a man who was George Bush’s defense secretary; and Hillary Clinton, a woman who ran against me for president.

All that mattered that day was the mission. No one thought about politics. No one thought about themselves. One of the young men involved in the raid later told me that he didn’t deserve credit for the mission. It only succeeded, he said, because every single member of that unit did their job – the pilot who landed the helicopter that spun out of control; the translator who kept others from entering the compound; the troops who separated the women and children from the fight; the SEALs who charged up the stairs. More than that, the mission only succeeded because every member of that unit trusted each other – because you can’t charge up those stairs, into darkness and danger, unless you know that there’s someone behind you, watching your back.

The SEALS did their usual EXCELLENT JOB, and you get the credit…nice.

So it is with America. Each time I look at that flag, I’m reminded that our destiny is stitched together like those fifty stars and those thirteen stripes. No one built this country on their own.

And no one is tearing it down like you are.

This Nation is great because we built it together. This Nation is great because we worked as a team. This Nation is great because we get each other’s backs. And if we hold fast to that truth, in this moment of trial, there is no challenge too great; no mission too hard. As long as we’re joined in common purpose, as long as we maintain our common resolve, our journey moves forward, our future is hopeful, and the state of our Union will always be strong.

We will be working as a team, we’ve got each others’ backs, we’re holding to the truth, we’re definitely being tried and challenged, and our mission is to replace you with a President who will RESTORE this Country, not destroy it.  We are joined in a common purpose, your retirement.  We are moving forward.  Our future IS hopeful.  Our Union will be strong again, after you’re gone.

Thank you, God bless you, and may God bless the United States of America.

Under Obama, Oil and Gas Production on Federal Lands Is Down 40%

From The Heritage Foundation:

In his announcement rejecting the Keystone XL pipeline today, President Obama boasted that under his administration, “domestic oil and natural gas production is up.” Obama, of course, failed to mention that his administration can’t actually take any credit for the increase.

The vast majority of America’s new oil and gas production is happening on private lands in states like North Dakota, Alaska and Texas.

It’s not that Obama is devoid of responsibility. His administration oversees oil and gas production on federal lands by issuing leases. But when measuring oil and gas production in areas under Obama’s jurisdiction, the numbers tell a different story.

Citing publicly available federal data, the House Natural Resources Committee noted these figures:

  • Under the Obama administration, 2010 had the lowest number of onshore leases issued since 1984.

Despite the Obama administration’s restrictive policies for oil and gas production on federal lands, overall production still increased thanks to the pro-energy policies in states like North Dakota.

Read the rest at The Heritage Foundation

Georgia Court to Hear Natural Born Citizen Case vs Obama

From The National Patriot:

The liberty Legal Foundation has announced that the case pending in Georgia, challenging Obama’s eligibility, has been ACCEPTED.

This is great news considering Obama and his team of attorneys had been actively trying to have this case DENIED!!

The Georgia court in agreeing to hear the case could well be setting the stage for other states in which quite similar cases are pending. Arizona and Tennessee both have such cases waiting right now.

This case, in Georgia, deals specifically with the Natural Born Citizen issue.

In a previous article, we brought up the Minor vs Happersett case from 1875 in which the Supreme Court defined a NBC as one who has 2 parents which were citizens at the time of the subject’s birth. We also cited 3 other cases in which the Supreme Court, previous to the Minor case, said the same thing.

Since Obama’s father, at the time of Barack’s birth, was not a U.S. citizen, nor did he ever become one, according to the U.S. Supreme Court in 1875…Obama is NOT a Natural Born Citizen.

If not a NBC…then, according to the Constitution, Obama is ineligible to serve as President.

So…how long will THIS take before a hearing will occur?

Not NEARLY as long as you might think.

Read the rest at The National Patriot.

Obama Uses Executive Authority to Make Recess Appointment — While Senate Is Still in Session

From The Blaze:

In a defiant display of executive power, President Barack Obama on Wednesday will “stick his thumb in the eye” of GOP opposition and name Richard Cordray as the nation’s chief consumer watchdog. Outraged Republican leaders in Congress suggested that courts would determine the appointment was illegal.

But why are Republican leaders outraged at this recess appointment? Well, mostly because the Senate is still in session.

Although President Obama has constitutional power to make appointments during a congressional recess, Republicans have moved to keep that from happening by having the Senate running in “pro forma” sessions, meaning open for business in name with no actual business planned.

The Senate held such a session on Tuesday and planned another one on Friday. Republicans contend Obama cannot make a recess appointment during a break of less than three days, based on years of precedent.

The Obama White House contends such an approach is a gimmick. For all practical purposes, the Senate is in recess and Obama is free to make the appointment on his own.

McConnell said that Obama’s move “lands this appointee in uncertain legal territory, threatens the confirmation process and fundamentally endangers the Congress’ role in providing a check on the excesses of the executive branch.

The president plans to argue that the appointment was necessary because, with a new director in place, the new Consumer Financial Protection Bureau can start overseeing the mortgage companies, payday lenders, debt collectors and other financial companies.

Read the rest at The Blaze.

Obama’s “Recess” Appointments Show Constitutional Scholar Willing to Shred the Constitution

From AlinksyDefeater’s Blog:

President Barack Obama has pushed the level of Executive Power well beyond what any previous President has done with his recent, so-called, recess appointments. The only problems are not only are the nominees so controversial that they can’t get Democratically controlled Senate approval, but the Senate is technically not even in recess.

Even the Liberal New York Times had this to say about Obama’s “recess appointments”:

President Obama’s decision on Wednesday to grant recess appointments to four officials — even though the Senate contends that it is not in recess — was an unprecedented legal step that brought into sharper focus a recent bipartisan struggle over presidential power

In 2007, concerning Bush recess appointments, then Senator Obama said,

It’s disappointing that President Bush would defy the will of Congress by appointing Sam Fox Ambassador to Belgium. I opposed Mr. Fox’s nomination because I had serious concerns about his candor, judgment, and qualifications for this important post. Appointing nominees that are opposed by a majority in Congress simply because they are political cronies is old style politics at its worst. Our nation’s ambassadors should possess strong credibility and character so that they may effectively represent U.S. interests overseas, and I don’t think President Bush applied that test with this recess appointment.

It is one thing for a President to be hypocritical, there is not much new in that. It is quite another for a President who is a Constitutional scholar to have such utter disregard for the guiding document of our nation.

January Surprise: Is Obama preparing a trillion-dollar, mass refinancing of mortgages?

From The American:

This could be just the beginning. If President Barack Obama’s legally dodgy appointment of Richard Cordray to head the consumer finance agency should stick, it may open the door to more such actions. Here’s Jaret Seiberg of the Washington Research Group:

To us, the most important takeaway from a recess appointment of Cordray is that the President could use this same maneuver to put a housing advocate in charge of FHFA.

And why is that important? The Federal Housing Finance Agency is the regulator and conservator of Fannie Mae and Freddie Mac. And the FHFA currently has an acting director, Edward DeMarco. If Obama replaces him with a “housing advocate” via the same recess appointment process, here’s what might happen next, according to Seiberg:

That could lead to a mass refinancing program for agency-backed mortgages that would go well beyond the existing HARP program. That could hurt agency MBS pricing and result in higher financing costs going forward. Yet it also could be a big boost for the economy and housing going into the election.

Read the rest at The American

God Bless America

Find Us On Facebook!

Hot Topics

Random Quote

The same prudence which in private life would forbid our paying our own money for unexplained projects, forbids it in the dispensation of the public moneys. — Thomas Jefferson, letter to Shelton Gilliam, June 19, 1808

Today’s Events

None

Upcoming Elections

  • No dates present