Fiscal Cliff Poker: Call Obama's Bluff!

Contrary to what Democrats might say, it is in fact possible to run the government, defend the country, and even pay Social Security without borrowing any money and loading our excess on our children and grandchildren. Not increasing the debt ceiling will make us be more responsible. And most of all, it will send a message to domestic and foreign markets that we intend to be responsible. This will tend to increase GDP even in the face of the tax hikes that will take place on January 1, 2013. It provides an end-run around the tax hike vs. spending cut impasse that has plagued us for the past four years. Moreover, it will effectively put an end to bailouts and other misuses of federal money, since there won't be any excess for that kind of expenditure.

There's a regulatory cliff too

Via Pat Hynes lobbying and PR shop, an excellent round up of articles on what they are calling the "regulatory cliff" that has almost completely been ignored by the media and even most conservatives.

A few examples:

Though the fiscal cliff dominates headlines, Team Obama's rapid expansion of regulations cannot be ignored. "The growing cost of regulations has been hidden from the headlines behind the fiscal cliff, but they should not be ignored." [Sam Batkins, "Lame duck regulatory deluge could top $100 billion," American Action Forum, 11/27/2012. http://bit.ly/RiL7Yq]

The regulatory burden sounds a lot like our deficit. "The Obama administration has pursued an active regulatory agenda. The overall regulatory burden is now $1.8 trillion annually, according to the Competitive Enterprise Institute, and this year alone new rules have added $215.4 billion in compliance costs." [Rep. Sam Graves, "The regulatory cliff awaits," Reuters, 12/6/2012. http://reut.rs/Vy3VUQ]

The lack of transparency is staggering. "Current law generally dictates that a regulation should not be at the White House longer than 90 days. However, as demonstrated below, more than 80 percent of all currently reviewed 'regulatory actions' have been at the White House for more than 90 days. The Office of Information and Regulatory Affairs (OIRA) admits 84 percent of EPA rules have been delayed and 100 percent of energy regulations have, for some reason, been under review for more than 90 days." [Sam Batkins, "Lame duck regulatory deluge could top $100 billion," American Action Forum, 11/27/2012. http://bit.ly/RiL7Yq]

Obama's bureaucrats have refused to level with the public about the impact of their regulations. "There is a great deal of uncertainty with many of these cost estimates. Part of the problem is simple: transparency. Under the Regulatory Flexibility Act (RFA), the White House must release a 'Unified Agenda' of all federal rulemakings twice a year. The RFA notes, 'During the months of October and April of each year, each agency shall publish in the Federal Register a regulatory flexibility agenda.' To date, the administration has not released even one agenda in 2012...Beyond a simple schedule of possible rulemakings, the White House has been coy about the costs and benefits of recent regulations." [Sam Batkins, "Lame duck regulatory deluge could top $100 billion," American Action Forum, 11/27/2012.http://bit.ly/RiL7Yq]

The corresponding burden to businesses - you know, job creators - is staggering. "For the regulations that do have proposed versions, the associated paperwork burden is 37.6 million hours. To put this in perspective, a productive work year is 2,000 hours. Thus, the pending proposals could force 18,839 full-time employees into the role of paperwork compliance." [Sam Batkins, "Lame duck regulatory deluge could top $100 billion," American Action Forum, 11/27/2012. http://bit.ly/RiL7Yq]

Now we're facing a $100 billion regulatory overload that few Americans know about. "The White House touts transparency, but for an unknown reason, refuses to follow explicit laws on regulatory transparency. At more than $100 billion, the potential regulatory bill for the lame duck session is already significant. There are doubtless benefits associated with these regulatory overhauls as well, but the public doesn't have a fair opportunity to see the costs or benefits of these proposed rules." [Sam Batkins, "Lame duck regulatory deluge could top $100 billion," American Action Forum, 11/27/2012.http://bit.ly/RiL7Yq]

Obama also put off implementing $100 billion in regulations until after the campaign.

Not all regulations are bad but $1.8 trillion is far too large a burden to justify. This kind of regulatory environment strangles job creation, not to mention slowing economic activity. And there have been few of the possible thousands of regulations associated with the implementation of Obamacare that have been published.

Can't wait for that, huh.

http://www.americanthinker.com/blog/2012/12/theres_a_regulatory_cliff_too.html#ixzz2ElOGwdSR

Teachers Bail on Michigan Kids Who Can't Read at Their Grade Level

At least 26,000 children will miss school today because their teachers called in sick or took a vacation day to protest proposed right-to-work legislation, which is expected to pass today.

Many Michigan schools are closed today as hundreds of teachers converge on the Capitol in Lansing to protest Michigan right-to-work legislation which was just passed by Republicans and is headed to Governor Snyder's desk. As CNSNews points out, many teachers from Detroit are in Lansing today while their students are struggling to read at home.

In the public schools in Detroit, Mich., according to the U.S. Department of Education, only 7 percent of the eighth graders are grade-level proficient or better in reading.

Remember: it's all about the kids.

http://townhall.com/tipsheet/katiepavlich/2012/12/11/teachers-bail-on-michigan-kids-who-cant-read-by-7th-grade-n1464588

PK'S NOTE: This next story is disgusting. This IS NOT how Americans behave. This is Obama's America. This is spoiled children throwing a tantrum. Pathetic.

Violence Breaks Out in Michigan Against Conservatives as Union Protests Rage

The Republican controlled Michigan legislature passed right-to-work legislation late Tuesday morning as union members loudly protested inside and outside of the Capitol in Lansing. Michigan Democrat Rep. Douglas Geiss threatened on the House floor this morning "there would be blood" if the legislation passed. Riot police have been on the scene since early this morning bracing for violence.

The Michigan House Democrats reiterated their threat on their Twitter page, but have since deleted it.

Outside of the building a tent owned and set up by the conservative group Americans For Prosperity has been torn down by cheering union protesters, trapping elderly volunteers inside.

Conservative comedian Steven Crowder, who is in Lansing, has reported being punched in the face four times.

According to reporters on the ground in Michigan, troopers in riot gear are headed to the steps of the Capitol to try and prevent any further violence.

http://townhall.com/tipsheet/katiepavlich/2012/12/11/violence-breaks-out-in-michigan-against-conservatives-as-union-protests-rage-n1464612

School District Owes $1 Billion On $100 Million Loan

More than 200 school districts across California are taking a second look at the high price of the debt they've taken on using risky financial arrangements. Collectively, the districts have borrowed billions in loans that defer payments for years — leaving many districts owing far more than they borrowed.

In 2010, officials at the West Contra Costa School District, just east of San Francisco, were in a bind. The district needed $2.5 million to help secure a federally subsidized $25 million loan to build a badly needed elementary school.

Charles Ramsey, president of the school board, says he needed that $2.5 million upfront, but the district didn't have it.

"We'd be foolish not to take advantage of getting $25 million" when the district had to spend just $2.5 million to get it, Ramsey says. "The only way we could do it was with a [capital appreciation bond]."

Those bonds, known as CABs, are unlike typical bonds, where a school district is required to make immediate and regular payments. Instead, CABs allow districts to defer payments well into the future — by which time lots of interest has accrued.

In the West Contra Costa Schools' case, that $2.5 million bond will cost the district a whopping $34 million to repay.

Ramsey says it was a good deal, because his district is getting a brand-new $25 million school. "You'd take that any day," he says. "Why would you leave $25 million on the table? You would never leave $25 million on the table."

But that doesn't make the arrangement a good deal, says California State Treasurer Bill Lockyer. "It's the school district equivalent of a payday loan or a balloon payment that you might obligate yourself for," Lockyer says. "So you don't pay for, maybe, 20 years — and suddenly you have a spike in interest rates that's extraordinary."

Lockyer is poring through a database collected by the Los Angeles Times of school districts that have recently used capital appreciation bonds. In total, districts have borrowed about $3 billion to finance new school construction, maintenance and educational materials. But the actual payback on those loans will exceed $16 billion.

Some of the bonds can be refinanced, but most cannot, Lockyer says.

Perhaps the best example of the CAB issue is suburban San Diego's Poway Unified School District, which borrowed a little more than $100 million. But "debt service will be almost $1 billion," Lockyer says. "So, over nine times amount of the borrowing. There are worse ones, but that's pretty bad."

The superintendent of the Poway School District, John Collins, wasn't available for comment. But he recently defended his district's use of capital appreciation bonds in an interview with San Diego's KPBS Investigative Newsource.

"Poway has done nothing different than every other district in the state of California," Collins told the program.

And he's right. In some cases, districts are on the hook to pay back anywhere between 10 and even 20 times the amount they borrowed.

But Lockyer says it distresses him to hear school officials defend these bonds.
"It's so irresponsible, that if I were on a school board — which I was, 40 years ago — I would get rid of that superintendent," Lockyer says.

Back in the '90s, the state of Michigan banned capital appreciation bonds altogether. But Lockyer says California needn't go that far. He supports a series of reforms such as capping the payback of debt to four times the amount borrowed. Otherwise, says Lockyer, these bonds will be paid well into the future, by the children of today's students.

http://www.npr.org/2012/12/07/166745290/school-district-owes-1-billion-on-100-million-loan

Okay, President Obama, Let's be Fair

By Bruce Johnson

Let's be fair. Present federal spending levels is damaging to future generations. It steals from those that are coming after us and also shaves value from the currency. Let us be fair to future generations and those who hold dollars.

Let's be fair. People who are taking money from the Social Security fund under the guise of being disabled, when they are not, are essentially stealing the money from the people who obediently paid into Social Security. Let's be fair. Those who paid in to the fund should not be subject to fraudulent disability claims that drain their money from the fund and increase the likelihood that the money won't be there when they who paid in will be in need of it.

Let's be fair. Illegal immigrants are getting the same perks as those who came into the country legally. Legal immigration, monitored and measured, is the only fair immigration policy
.

Let's be fair. The Federal Reserve has a mandate to maintain moderate interest rates. 0% rates are not moderate by any metric. To anyone who has saved money for retirement, to pensions that rely on a fair return on money, this policy by the Federal Reserve is unfair.

Let's be fair. States that mismanage their own affairs (CA, IL, NY) should not be bailed out by States who have managed their affairs in responsible fashion (TX, OK, AZ).

Let's be fair. The citizens of the United States should not be deprived of the knowledge of the inner workings of federal government. Those accountable for Department of Justice antics or Secretary of State security decisions should be known to the people of the country.

Let's be fair. When the federal authorities are lax in enforcing federal code, States should be able to assist. In doing so, the States are allowed to protect themselves in full accordance with the law.

Let's be fair. Students graduate college with large debt as the collegiate professorship and faculty accrue marvelous benefits packages and retirement considerations.

Let's be fair. If wealth accumulation is suggested as evil, perhaps schools such as Harvard should share their multi billion dollar endowments with the needy schools, the less fortunate. Maybe Harvard should just give their $20 Billion to the Department of Education so it can do good work for all.

Let's be fair. No waivers for anyone regarding Obamacare or passed immigration laws.

Lets be fair. Those who pass laws must also be subject to same.

http://www.americanthinker.com/blog/2012/12/okay_president_obama_lets_be_fair.html#ixzz2ElPdkpxO

Head of Obama’s Jobs Council: ‘State-Run Communism’ Actually ‘Works’

If you were ever in doubt what type of thinking this administration fosters, this clip should put any debate to rest.

Appearing Monday morning on CBS, Obama’s jobs council head and the CEO of GE Jeffrey Immelt said that one thing that “actually works” is “state-run Communism” in China.

After host Charlie Rose brought up the “growth rate” of China falling from double digits to about eight percent, Immelt chimed in.

“Look, I think it’s good for China,” he said. “To a certain extent, Charlie, 11 to 12 percent is unsustainable. You end up getting too much stimulus or a misallocation of resources. They are much better off working on a more consumer-based economy, less dependent on exports, driving technology and innovation harder. Really, the one thing that actually works, state run communism may not be your cup of tea, but their government works.”

“They get things done,” Rose responded.

Watch it below:

PK's NOTES: On a truly personal note, I love seeing this. She is so biased and in the bag for this Administration. I'm sure the replacement won't be much better but I have to say woot!

Report: CNN To Replace Soledad O'Brien With Erin Burnett

New CNN programming chief Jeff Zucker will reportedly replace Soledad O'Brien, the host of the network's morning show "Starting Point," with Erin Burnett, who currently hosts "Outfront," which airs at 7 p.m. on the struggling cable news network.

The New York Post reported that Zucker is “looking at Erin Burnett to revive the cabler’s moribund morning ratings” and quotes a CNN source who said Zucker will team Burnett “up with a guy, and they’ll go after the audience watching ‘Today’ and ‘Good Morning America.’"

O'Brien recently told a college audience that when she first heard of Zucker's hire, she thought, "Yes!" because Zucker "knows news. He knows winning. He knows morning TV.”

“To me, Jeff Zucker is synonymous with winning,” O’Brien said last week at Drexel University, according to Media Bistro. “He’s an incredible news executive. I want to be on a team that strategizes how to win. It’s great to have a leader … I’m thrilled.”

Apparently, Zucker believes CNN's best chance to win the ratings race in the morning is without O'Brien.

According to Nielsen, last Thursday’s Starting Point “got 301,000 viewers on average compared to 537,000 for MSNBC’s ‘Morning Joe’” while “Fox and Friends” beat both programs combined with 1.1 million viewers. "Starting Point" even loses out to HLN in the ratings.

O'Brien was made anchor of "Starting Point" in January of 2012 and, as the Daily Mail notes, replacing O'Brien with Burnett would be "a slap in the face" to O’Brien," especially when one considers Burnett has failed to "gain much traction in prime time with her" show.

On a network that brands itself as being supposedly objective, O'Brien has been anything but -- she has panted over Newark Mayor Cory Booker's food stamp stunt and has been caught reading talking points from liberal blogs to attack Republican guests on the show during live interviews. O'Brien also displayed her lack of knowledge about "Critical Race Theory" when she interviewed Breitbart News Editor-in-Chief Joel Pollak about a tape Breitbart News unearthed that showed Barack Obama embracing Derrick Bell, the godfather of the radical legal doctrine. O'Brien was caught parroting a Wikipedia entry on the subject and continued to misrepresent "Critical Race Theory" to her viewers even after she displayed her ignorance about the topic while interviewing Pollak.

O'Brien's partisan nature and acrimony often gives viewers of "Starting Point" a rude awakening.

http://www.breitbart.com/Big-Journalism/2012/12/11/Report-CNN-To-Replace-Soledad-O-Brien-With-Erin-Burnett

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