A vampire bill 140

David Limbaugh points this out in writing about the Waxman-Markey ‘cap-and-trade’ bill: 

Climate scientist Chip Knappenberger, of New Hope Environmental Services, calculates that the bill would only reduce Earth’s temperature by 0.1 to 0.2 degree Celsius by 2100. The Heritage Foundation’s Ben Lieberman says he’s found no “decent refutation of the assertion that the temperature impact would be inconsequential.”

Unfortunately, the bill’s negative impact on the economy would not be inconsequential. Lieberman says the bill would cause estimated job losses averaging about 1.15 million from 2012-2030, and the cumulative projected loss in gross domestic product would be almost $10 trillion by 2035. The national debt from this bill alone, disregarding the multiple bailouts, stimulus packages and health care “reform,” would increase by 2035 for a family of four by 26 percent, or $115,000…

In addition to all the economic destruction the bill would cause, in the end, it is not so much about global warming as Obaman wealth redistribution. “The Foundry” says Obama’s own budget “promises to raise $650 billion in revenues by selling carbon permits (which are the exact same thing as an energy tax),” only $150 billion of which will go to alternative energy production. The rest will be redistributed to people who “don’t pay income taxes.”

Read the whole article here.

Posted under Commentary, Economics, United States by Jillian Becker on Friday, July 10, 2009

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America’s Mussolini 222

One of our readers, A.G.S., sent us an idea he had for an article comparing America now to the early days of Mussolini’s Italy. The thought came to him, he wrote, when he read Mario and the Magician by Thomas Mann. He outlined the article he had in mind and asked me [JB] if I would complete it. At first I was a little skeptical; I felt he was exaggerating. But the more I thought about it, the more I found myself in agreement with him. The following is the result of our collaboration.

*** 

In his famous story Mario and the Magician, Thomas Mann demonstrates how fascism under Mussolini corrupted the Italian populace. At the start of his regime a general feeling spread among the Italians that it was right to impose conformity, and society was gripped by a mood of collective censoriousness. In the story, set in an Italian holiday resort, a child takes off her bathing suit to wash the sand out of it in the sea, and her momentary nudity arouses the wrath of the crowd on the beach, the police are informed and the child’s family is fined. The story as a whole is about the destruction of individual will during an evening’s entertainment by an evil hypnotist. The allegorical implications are unmistakeable.

As in Italy then, an atmosphere of authoritarian regulation is spreading in the US now. There is a powerful demand, emanating from the president and his circle, for mental and physical conformity.

Proofs of this intent abound. Group action and community involvement are encouraged, with the aim of inducing non-conformists to fall in line. The Department of Homeland Security issues a memo warning that persons who have a political point of view different from the present federal government majority are a threat to society. Anyone challenging the theory of anthropogenic global warming, which the Democrats in power have embraced as an orthodoxy, is denounced as a heretic. In the cause of mitigating the projected undesirable effects of climate change, the government proposes to dictate what sources of energy you may use and to what extent.  It will regulate the temperature of your house, the clothes you may wear, the food you may eat, and the car you may drive. In sickness and infirmity your body will be treated as the government decides when its nationalized health policy is imposed. Government will decree what opinions you may express on talk radio, in the universities and schools, and soon in any public forum. By ‘spreading the wealth around’ it will set a limit to how high any individual may rise by his own efforts.  Government will rule on how much business managers may be paid and under what union-dictated terms an employee may work.

When conformity is legislated and imposed by force, dissent criminalized and punished, authoritarianism has become tyranny. 

Obama is the Mussolini of America.

Behind the smokescreen 79

 … Obama and the Democrats are steadily pursuing their sinister agenda. 

Michelle Malkin writes (see the whole article here):

I ask you now to turn away from the bogus bonus smokescreen over $165 million in taxpayer-backed compensation packages for AIG employees. It is a pittance compared to the gargantuan spending spree happening right under our noses. The AIG bonus price tag amounts to one tenth of 1 percent of the total AIG giveaway ($85 billion in September, $37.8 billion in October; $40 billion in November; $30 billion in early March), which took place with the assent of a Republican administration, a Democratic administration and the congressional leadership of both parties.

Taxpayers might be less skeptical of the born-again guardians of fiscal responsibility if these evangelists were actually practicing what they preached. While the Obama administration now issues impassioned calls to stop rewarding failure, they moved Thursday to dump another $5 billion into the failing auto industry. That’s on top of Thursday’s announcement by the Federal Reserve to print $1 trillion to buy Treasury bonds and mortgage securities sold by the government – which no one else wants to buy.

Financial blogger Barry Ritholtz tallied up $8.5 trillion in bailout costs by December 2008 between Federal Reserve, FDIC, Treasury and Federal Housing Administration rescues (not including the $5.2 trillion in Fannie and Freddie portfolios that the U.S. taxpayer is now explicitly responsible for). Then there’s the (at least) $50 billion proposed by Treasury Secretary Tim Geithner in February to bail out home owners and lenders who made bad home loan decisions, which would be just a small sliver of the $2.5 trillion he wants to spend on the next big banking bailout, which would draw on the second $350 billion of the TARP package over which an increasing number of Chicken Little lawmakers are having buyer’s remorse.

Phew. We’re not done yet: As AIG-bashing lawmakers inveighed against wasted taxpayer funds and lamented the lack of accountability and rush to judgment that led to passage of the porkulus bill that mysteriously protected the bonuses, the Senate quietly passed a $10 billion lands bill stuffed with earmarks and immunized from amendments. GOP Sen. Tom Coburn, fiscal conservative loner, pointed out that none of the provisions for special-interest pork projects – including $3.5 million in spending for a birthday bash celebrating the city of St. Augustine, Fla. – was subject to public hearings. That’s on top of the pork-stuffed $410 billion spending bill passed two weeks ago.

Oh, and did I mention that the House passed a $6 billion volunteerism bill (the "GIVE Act") on Wednesday to provide yet another pipeline to left-wing advocacy groups under the guise of encouraging national service?

Also coming down the pike: the Obama administration’s "cap-and-trade" global warming plan, which Hill staffers learned this week could cost close to $2 trillion (nearly three times the White House’s initial estimate) and the administration’s universal health care scheme, which health policy experts reported this week could cost about $1.5 trillion over the next decade.

It is no wonder that when earlier this week Vice President Joe Biden told local officials in Washington that he was "serious, absolutely serious" about policing wasteful spending in Washington, he was met with the only rational response his audience could muster: laughter.

Posted under Commentary by Jillian Becker on Friday, March 20, 2009

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