With General Motors slated for nationalization, and the government holding major stakes in Chrysler and several major banks, many concerned observers have been asking when it will all end. President Obama, however, has not even ventured a guess. The omission is an odd, and dangerous, one: the president who campaigned …
If the Obama administration succeeds in passing the Waxman-Markey energy tax, and it works perfectly, it will only reduce global temperatures by nine hundredths of one degree Fahrenheit. In other words: it will do nothing. The only possible benefits from Waxman-Markey occur if the rest of the world, including the …
President Obama has appointed yet another czar. This time it’s a pay czar, Kenneth Feinberg, to monitor the compensation paid to seven companies currently under the opiate influence of federal bailout money. We’re long past czar fatigue. The political usefulness of a czar is that it allows the President to …
Defending the Obama administration’s government-run health insurance option, White House press secretary Robert Gibbs said yesterday: I think if you listen to the debate on Capitol Hill about health care you’re likely to hear two very important words: choice and competition. A public option that you’re referring to is nothing …
Last month, the Heritage Foundation’s Center for Data Analysis released a study of the Waxman-Markey energy tax bill showing that by 2035 it would raise electricity rates 90 percent, reduce aggregate gross domestic product (GDP) by $7.4 trillion, and destroy over 1,900,000 jobs. The Natural Resources Defense Council recently responded …
In his statement yesterday announcing that 10 banks would be repaying $68 billion in TARP bailout funds, President Obama proudly asserted that the step would reduce the national debt: “And as this money is returned, we’ll see our national debt lessened by $68 billion — billions of dollars that this …
The draft resolution on North Korea’s nuclear and missile programs reportedly agreed to by the security council’s permanent five members, plus Japan and South Korea, is nothing new. In fact, it is full of references back to unenforced provisions of previous resolutions, particularly from October 2006. More than anything else, …
On a blogger conference call this morning, Senator Lamar Alexander (R-TN) discussed a bill he introduced last week that would distribute the Federal government’s recently acquired GM and Chrysler stock to taxpaying Americans. “Instead of the Treasury owning 60 percent of shares in the new GM and 8 percent of …
WHY TARP NEEDS OVERSIGHT The announcement that the government would provide $30 billion dollars more in TARP funds to General Motors in exchange for a 60 percent ownership interest in the company is unprecedented and almost unbelievable. Who ever imagined the taxpayers would wake up Monday morning and find out …
