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Monthly Archives: January 2009

Stimulus = social engineering.

Among other intelligent questions Alan Reynolds asks below why over half of the almost $900 billion “stimulus” package is going to be spent on the parts of the economy where unemployment is lowest, where jobs are fewest, and, worst of all, years down the road where there will be no immediate impact to the economy […]

$640k per govt job?!?

Here’s Alan Reynolds: House Democrats propose to spend $550 billion of their two-year, $825 billion “stimulus bill” (the rest of it being tax cuts). Most of the spending is unlikely to be timely or temporary. Strangely, most of it is targeted toward sectors of the economy where unemployment is the lowest. The December unemployment rate […]

No-brainer.

It’s not redistributed wealth strategies that will save our economy. It’s having a smarter economy would save our economy.l Under the current system, U.S. corporations are charged 35 cents for each foreign-earned dollar they bring back home to the U.S. If they keep that income overseas, it is taxed at lower rates. As a result, […]

Steyn hits.

From Mark Steyn’s “12 Zeros” (National Review). I just love the “garage business” observation. How true! Barry Ritholtz, author of the forthcoming book Bailout Nation, calculated — gosh, was it only six weeks ago? — that the tab for the bailout by November 24 was already $4.6165 trillion, which looks much more convincing because it’s […]

Malthusian Nonsense.

Here’s the Wall Street Journal: One of the more curious items in the $825 billion House “stimulus” is $87 billion to help states with Medicaid, specifically including an expansion of family-planning services. The implication is that more people mean less economic growth. Following a White House meeting with President Obama on Friday, Republican John Boehner, […]

Subliminal headline of the day.

WaPost: Obama to force car manufacturers to make cars consumers don’t actually buy.

The goal of government.

George Will writes about how often small government programs become behemoths. Case in point: SCHIP. By a vote of 289 to 139, with 40 Republicans joining the majority, the House, in the process of reauthorizing the State Children’s Health Insurance Program, doubled the funding, thereby transforming it through “mission creep.” SCHIP’s purpose, when it was […]

Not so stimulating.

George Melloan expands on the folly of the latest craze of “stimulus” spending. Even before Barack Obama’s inauguration, the Democrat-controlled House crafted a record-breaking $825 billion program to “stimulate” the U.S. economy. One measure — withholding less income tax from paychecks over the next two years — is a Keynesian effort to restore consumer demand […]

Ecopocrisy

The Wall Street Journal opines on the ridiculous hypocrisy of Northeastern Democrats who attempt to block the passage of the Cape Wind project, located in Cape Cod, Martha’s Vineyard and Nantucket. The project boasts a planned “130 towers [which] could meet 75% of the region’s electricity needs and reduce carbon emissions by some 734,000 tons […]

Freed Guantanamo becomes #2 Al Qaeda.

al-Shihri becomes the next of at least 60 former detainees who have returned to their terrorism roots. And people want to close Guantanamo… Ex-Guantanamo detainee becomes No. 2 for al-Qaeda in Yemen CBC News A Saudi man who was detained at the U.S. detention centre at Guantanamo Bay, Cuba, for six years has now become […]