Archive for the ‘Debt Ceiling’ Category

THE STRATEGIST BEHIND THE SHUTDOWN

Monday, October 14th, 2013

 

The Wall Street Journal

By

‘I really believe we are in a great position right now,” says Michael Needham, the 31-year-old president of Heritage Action, the lobbying arm of the nation’s largest conservative think tank. By “we” he means the Republican Party and the conservative movement; their “great position” refers to the potential to win the political battle over the government shutdown.

Though Texas Sen. Ted Cruz is the public face of the high-risk strategy to “defund” ObamaCare, the masterminds behind it are a new generation of young conservatives, chief among them Mr. Needham. From a tactical view, the strategy has been deployed with precision. In August, only Mr. Cruz and a band of renegade tea-party Republicans in the House favored this approach, and the media collectively scoffed. But by September, House Republicans couldn’t pass a budget without attaching the defunding rider that has grounded much of government.

“We rallied the conservative grass roots across the country,” Mr. Needham says, and ran ads in more than 100 districts on the health law. It worked. During the August recess, these activists demanded that their members of Congress stop ObamaCare.

To most observers, who think the GOP is losing this fight, Mr. Needham’s optimism that Republicans will carry the day may seem astonishing. But Mr. Needham says the second-guessers are wrong.image

Zina Saunders (more…)
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SHABBY TREATMENT OF VETERANS – LETTER TO THE EDITOR

Wednesday, October 9th, 2013

 

 


Letters to the editor

Oct. 07, 2013 

Shabby treatment of veterans

Soldiers who were 17 at the end of World War II (1945) would now be 85, and would be the youngest veterans of that war.  Other survivors are now older, often sick, and with a short life expectancy. Veterans have been traveling to D.C. as part of Honor Flights, a program that enables WW2 veterans to have an expense-paid trip to the World War II memorial that they themselves made possible.  The memorial is outdoors and stunningly beautiful.

National parks were closed for the 10/1 shutdown.  The House Republicans, who are honoring campaign commitments to voters to delay and defund Obamacare, had passed a bill funding national parks, which the Senate refused.  Expecting Honor Flights from their districts, Congressman Palazzo and others requested repeatedly, including to the President, that the WW2 Memorial be made available,. Requests were refused, and the entrance blocked.

The House has passed over five bills to fund specific components of the government including NIH cancer programs for children.  The House has passed three bills fully to fund all aspects of the government with the exception of Obamacare, also all refused.  The Democrat Senate is preferring to inflict maximal pain on our citizens, including elderly veterans of the Greatest Generation, rather than allow the government to function.

The Senate is trying to protect an unpopular bill so dysfunctional that the sign-up site has been withdrawn.  It is using shabby treatment of veterans as a tool.  I urge readers to express support for our veterans despite Senate manipulations.

Laura Gutman

Durham

 

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‘GESTAPO’ TACTICS MEET SENIOR CITIZENS AT YELLOWSTONE

Wednesday, October 9th, 2013

 

– See more at: www.newburyportnews.com/local/x1442580373/Gestapo-tactics-meet-senior-citizens-at-Yellowstone#sthash.3C8EB2AV.dpuf

October 8, 2013

‘Gestapo’ tactics meet senior citizens at Yellowstone

NEWBURYPORT — Pat Vaillancourt went on a trip last week that was intended to showcase some of America’s greatest treasures.
Instead, the Salisbury resident said she and others on her tour bus witnessed an ugly spectacle that made her embarrassed, angry and heartbroken for her country.
Vaillancourt was one of thousands of people who found themselves in a national park as the federal government shutdown went into effect on Oct. 1. For many hours her tour group, which included senior citizen visitors from Japan, Australia, Canada and the United States, were locked in a Yellowstone National Park hotel under armed guard.
The tourists were treated harshly by armed park employees, she said, so much so that some of the foreign tourists with limited English skills thought they were under arrest.
When finally allowed to leave, the bus was not allowed to halt at all along the 2.5-hour trip out of the park, not even to stop at private bathrooms that were open along the route.
“We’ve become a country of fear, guns and control,” said Vaillancourt, who grew up in Lawrence. “It was like they brought out the armed forces. Nobody was saying, ‘we’re sorry,’ it was all like — ” as she clenched her fist and banged it against her forearm.
Vaillancourt took part in a nine-day tour of western parks and sites along with about four dozen senior citizen tourists. One of the highlights of the tour was to be Yellowstone, where they arrived just as the shutdown went into effect.
Rangers systematically sent visitors out of the park, though some groups that had hotel reservations — such as Vaillancourt’s — were allowed to stay for two days. Those two days started out on a sour note, she said.
The bus stopped along a road when a large herd of bison passed nearby, and seniors filed out to take photos. Almost immediately, an armed ranger came by and ordered them to get back in, saying they couldn’t “recreate.” The tour guide, who had paid a $300 fee the day before to bring the group into the park, argued that the seniors weren’t “recreating,” just taking photos.
“She responded and said, ‘Sir, you are recreating,’ and her tone became very aggressive,” Vaillancourt said.
The seniors quickly filed back onboard and the bus went to the Old Faithful Inn, the park’s premier lodge located adjacent to the park’s most famous site, Old Faithful geyser. That was as close as they could get to the famous site — barricades were erected around Old Faithful, and the seniors were locked inside the hotel, where armed rangers stayed at the door. (more…)
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UNCERTAINTY IS THE ENEMY OF RECOVERY

Sunday, May 5th, 2013

 

The Wall Street Journal

Uncertainty Is the Enemy of Recovery

At Vanguard, we estimate that policy uncertainty has created a $261 billion drag on the U.S. economy.

Mr. McNabb is chairman and CEO of the Vanguard Group.

EXCERPT FROM THIS ARTICLE:  Investor anxiety is a critical component in all of this. We’d be foolish to take comfort in the strength of recent stock-market performance. Until the U.S. debt issue is resolved for the long term, market gains and losses will be built on an unstable foundation of promises that cannot be kept.

Anyone hoping for signs of a healthy economic recovery was disappointed by lower-than-expected GDP growth for the first quarter of 2013—a mere 2.5%, far short of the forecast 3.2%. Meanwhile, the stock market continues to soar, hitting record levels in recent weeks. It’s a striking disconnect, and one that is discouraging and confusing for Americans as they seek to earn a living and save for the future.

Companies and small businesses are also dealing with the same paradox. Many are in good shape and have money to spend. So why aren’t they pumping more capital back into the economy, creating jobs and fueling the country’s economic engine?

Quite simply, if firms can’t see a clear road to economic recovery ahead, they’re not going to hire and they’re not going to spend. It’s what economists call a “deadweight loss”—loss caused by inefficiency.

Today, there is uncertainty about regulatory policy, uncertainty about monetary policy, uncertainty about foreign policy and, most significantly, uncertainty about U.S. fiscal policy and the national debt. Until a sensible plan is created to address the debt, America will not fulfill its economic potential. (more…)

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THE WAR AGAINST THE YOUNG

Wednesday, April 10th, 2013

NATIONAL REVIEW ONLINE

THE WAR AGAINST THE YOUNGIS OBAMA BUILDING A CONSERVATIVE YOUTH MOVEMENT?

By Victor Davis Hanson       NRO contributor Victor Davis Hanson is a senior fellow at the Hoover Institution. His The Savior Generals will appear in May from Bloomsbury Books. 

EXCERPT FROM THIS ARTICLE:  The soon-to-be-$17-trillion debt — run up largely by the Baby Boomer generation — will lead to decades of budget cutting, inflation, and higher taxes. A decade from now, as 30-somethings try to buy a home and raise children while they are still paying off their student loans, they may wonder why the national burden of repaying the debts of the better-off falls largely upon themselves. Indeed, a legacy of the Baby Boomer generation is the idea that it is natural for younger people to begin life with huge loans — not for a house or a car, but for an education of dubious market value.

The offspring of well-connected journalists, politicians, academics, professionals, and celebrities assure us in their documentaries and op-eds, and through their parents’ voices, that conservatives have lost the war for America’s youth. They certainly have, at least for a while, at in-the-news, private liberal-arts campuses. But for the vast majority of the state-schooled who have no such connections, little if any expectation of an inheritance, and lots of accumulated debt, there is nothing liberal about the values inherent in the present economy.

Given a choice between gay marriage, legalization of pot, and the banning of so-called assault rifles on the one hand, and, on the other, a good job with lower taxes, most young people will quietly prefer the latter. For that reason, conservatives should not outbid liberals to appear cool to new voters, but simply explain that a fair economy for all generations is no longer on the liberal agenda.

 

It is popular wisdom that President Obama’s progressive social agenda is predicated on widespread support from the younger, hip generation. Certainly, concerns like gay marriage, marijuana legalization, abortion, the DREAM Act, gun control, women in combat, and blocking gas and oil exploration and pipeline transportation all get a lot of play on campuses and in popular culture. And these wedge issues supposedly represent the future direction of the country — a wise agenda for liberals eager to cement a majority constituency for decades to come.

But aside from the common-sense recognition that people become more conservative as they age and mature — and start paying taxes, and become financially responsible for their own children’s future — there is just as much likelihood that Barack Obama may inadvertently be building a conservative youth movement. Indeed, the new liberalism in all its economic manifestations is reactionary and anti-youth to the core. The administration seems aware of the potential paradoxes in this reverse “What’s the matter with Kansas?” syndrome of young people voting against their economic interests. Thus follows the constant courting of the hip and cool Beyoncé, Jay-Z, Lena Dunham, Occupy Wall Streeters, and others who blend pop culture, sex, youth, energy, and fad — almost anything to avoid the truth that today’s teenagers are starting out each owing a lifetime share of the national debt amounting to more than three-quarters of a million dollars. Those who ran up the debt enjoyed the borrowing, but won’t be around to pay back their proverbial fair share. (more…)

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MY UNRECOGNIZABLE DEMOCRATIC PARTY

Monday, March 18th, 2013

 

The Wall Street Journal

  • March 18, 2013

My Unrecognizable Democratic Party

The stakes are too high, please get serious about governing before it’s too late.

By TED VAN DYK

Mr. Van Dyk served in Democratic national administrations and campaigns over several decades. His memoir of public life, “Heroes, Hacks and Fools,” was first published by University of Washington Press in 2007.

As a lifelong Democrat, I have a mental picture these days of my president, smiling broadly, at the wheel of a speeding convertible. His passengers are Democratic elected officials and candidates. Ahead of them, concealed by a bend in the road, is a concrete barrier.

They didn’t have to take that route. Other Democratic presidents have won bipartisan support for proposals as liberal in their time as some of Mr. Obama’s are now. Why does this administration seem so determined to head toward a potential crash and burn?

image

Getty Images

Even after the embarrassing playout of the Obama-invented Great Sequester Game, after the fiasco of the president’s Fiscal Cliff Game, conventional wisdom among Democrats holds that disunited Republicans will be routed in the 2014 midterm elections, leaving an open field for the president’s agenda in the final two years of his term. Yet modern political history indicates that big midterm Democratic gains are unlikely, and presidential second terms are notably unproductive, most of all in their waning months. Since 2012 there has been nothing about the Obama presidency to justify the confidence that Democrats now exhibit.

Mr. Obama was elected in 2008 on the basis of his persona and his pledge to end political and ideological polarization. His apparent everyone-in-it-together idealism was exactly what the country wanted and needed. On taking office, however, the president adopted a my-way-or-the-highway style of governance. He pursued his stimulus and health-care proposals on a congressional-Democrats-only basis. He rejected proposals of his own bipartisan Simpson-Bowles commission, which would have provided long-term deficit reduction and stabilized rapidly growing entitlement programs. He opted instead to demonize Republicans for their supposed hostility to Social Security, Medicare and Medicaid.

No serious attempt—for instance, by offering tort reform or allowing the sale of health-insurance products across state lines—was made to enlist GOP congressional support for the health bill. It passed, but the constituents of moderate Democrats punished them: 63 lost their seats in 2010 and Republicans took control of the House. (more…)

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VICTOR DAVIS HANSON – WHY DO SOCIETIES GIVE UP”

Wednesday, March 6th, 2013

 

THE WASHINGTON TIMES

HANSON: Why do societies give up?

Slicing up a shrinking pie breeds class envy, then ruin

By Victor Davis Hanson

Victor Davis Hanson is a classicist and historian at Stanford University’s Hoover Institution. His new book, “The Savior Generals,” will appear this spring from Bloomsbury Press.

 

Monday, February 18, 2013

  • Illustration by Alexander Hunter for The Washington Times Illustration by Alexander Hunter for The Washington Times
EXCERPT FROM THIS ARTICLE:  By any historical marker, the future of Americans has never been brighter. The United States has it all: undreamed new finds of natural gas and oil, the world’s pre-eminent food production, continual technological wizardry, strong demographic growth, a superb military and constitutional stability.

Yet we don’t talk confidently about capitalizing and expanding on our natural and inherited wealth. Instead, Americans bicker over entitlement spoils as the nation continues to pile up trillion-dollar-plus deficits. Enforced equality rather than liberty is the new national creed. The medicine of cutting back on government goodies seems far worse than the disease of borrowing trillions from the unborn to pay for them.

Why do once-successful societies ossify and decline?

Hundreds of reasons have been adduced for the fall of Rome and the end of the Old Regime in 18th-century France. Reasons run from inflation and excessive spending to resource depletion and enemy invasion, as historians attempt to understand the sudden collapse of the Mycenaeans, the Aztecs and, apparently, the modern Greeks. In literature from Catullus to Edward Gibbon, wealth and leisure — and who gets the most of both — more often than poverty and exhaustion implode civilization.

One recurring theme seems consistent in Athenian literature on the eve of the city’s takeover by Macedon: social squabbling over slicing up a shrinking pie. Athenian speeches from that era make frequent reference to lawsuits over property and inheritance, evading taxes and fudging eligibility for the dole. After the end of the Roman Republic, reactionary Latin literature — from the likes of Juvenal, Petronius, Suetonius and Tacitus — pointed to “bread and circuses,” as well as excessive wealth, corruption and top-heavy government. (more…)

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GENERATIONAL THEFT – OUT OF CONTROL GOVERNMENT SPENDING

Friday, February 15th, 2013

 

The Wall Street Journal

  •  February 15, 2013

Generational Theft Needs to Be Arrested

A Democrat, an independent and a Republican agree: Government spending levels are unsustainable.

We come from different backgrounds, parties and pursuits but are bound by a common belief in the promise and purpose of America. After all, each of us has been the beneficiary of the choices made—and opportunities created—by previous generations of Americans.

One of us grew up poor in the South Bronx of the 1960s and went on to lead a children’s antipoverty program in Harlem. Another grew up in a small town in South Jersey, and went on to be a leading money manager. The third grew up in a small suburb in upstate New York and found his way to serve in the government amid the financial crisis.

image

David Gothard

One of us is a Democrat; one, an independent; another, a Republican. Yet, together, we recognize several hard truths: Government spending levels are unsustainable. Higher taxes, however advisable or not, fail to come close to solving the problem. Discretionary spending must be reduced but without harming the safety net for our most vulnerable, or sacrificing future growth (e.g., research and education). Defense and homeland security spending should not be immune to reductions. Most consequentially, the growth in spending on entitlement programs—Social Security, Medicaid and Medicare—must be curbed.

These truths are not born of some zeal for austerity or unkindness, but of arithmetic. The growing debt burden threatens to crush the next generation of Americans. (more…)

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WHY OUR FISCAL DEBATES AMOUNT TO NOTHING

Thursday, January 24th, 2013

 

 

Published on The Weekly Standard (www.weeklystandard.com)

Small Ball

Why our fiscal debates amount to nothing

Yuval Levin

January 14, 2013, Vol. 18, No. 17

EXCERPT FROM THIS ARTICLE:  It is crucial to see that both of these approaches are basically defensive in nature: The left is trying to avoid a fundamental transformation of the structure of our entitlement programs, since liberals believe the structure of those programs is key to their legitimacy and purpose, and so key to sustaining a just society. The right is trying to avoid a fundamental transformation of the relationship of government and society in American life, since conservatives believe the structure of that relationship is essential to American freedom and prosperity. The left would rather see American life altered (with a significantly larger government, a smaller and less active civil society, and a more consolidated but less dynamic economy) than see our welfare-state institutions reformed. The right would rather see our entitlement system altered (with lumbering universal entitlement programs turned into means-tested and market-based safety-net systems for the elderly and the poor) than see the character of our society transformed. 

For fiscal hawks of all political stripes, the last two years have been awfully frustrating. Budget politics has been front and center almost constantly, yet we have made almost no progress toward reducing our deficits and debt.

Ever since Republicans won control of the House of Representatives in the 2010 elections, they have sought to resist and reverse the flood of spending that had characterized President Obama’s first two years in office and to lay out an ambitious long-term path toward solvency. And because entitlement spending is at the heart of the trouble, they have even defied decades of conventional political wisdom by embracing structural reforms of Medicare and Medicaid. Democrats, meanwhile, have been arguing for higher taxes, at least for the wealthy, to help narrow the budget gap.

The divided Congress, and especially the willfully negligent Senate (which has not passed a budget since 2009), has meant that the resulting fiscal debate has not occurred through the normal legislative process but rather through a series of dramatic showdowns forced by a variety of predetermined deadlines. The failure to enact regular budgets has created the need for temporary continuing resolutions, forcing some spending conversations under the threat of a government shutdown. The near-breaching of the statutory debt ceiling in 2011 required congressional action to enable further borrowing, which Republicans turned into an occasion for budget negotiations. The congressional “supercommittee” created in those negotiations to reduce the deficit kept the fiscal debate alive through 2011 but then failed to reach agreement and raised the specter of automatic cuts in domestic and defense spending. And that specter, combined with the simultaneous expiration of the Bush tax rates, then made for the most dramatic showdown yet—the “fiscal cliff” that threatened to raise everyone’s taxes, and which Congress averted with a New Year’s deal to raise income tax rates only on the wealthy (and payroll tax rates on all workers) and to put off the automatic spending cuts until March, when they would coincide with yet another debt-ceiling debate. (more…)

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OBAMA’S OPPOSTION TO INCREASING DEBT LIMIT IN 2006

Friday, January 18th, 2013

 

The Wall Street Journal

  • January 17, 2013

Notable & Quotable

Barack Obama addressing the Senate in 2006 about why he opposed efforts to increase America’s debt limit.

Then-Sen. Barack Obama, in a speech on the Senate floor, March 16, 2006:

Mr. President, I rise today to talk about America’s debt problem. The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.

Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ”trillion” with a ”T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. . . .

Our debt also matters internationally. My friend, the ranking member of the Senate Budget Committee, likes to remind us that it took 42 Presidents 224 years to run up only $1 trillion of foreign-held debt. This administration did more than that in just 5 years. Now, there is nothing wrong with borrowing from foreign countries. But we must remember that the more we depend on foreign nations to lend us money, the more our economic security is tied to the whims of foreign leaders whose interests might not be aligned with ours.

Increasing America’s debt weakens us domestically and internationally. Leadership means that ”the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

I therefore intend to oppose the effort to increase America’s debt limit.

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