The Final Minority Report

Because Even Minorities Oppose Liberalism & Statism

Last Adult Standing: Romney’s Economic Message

Remember all the criticism about Romney being too stiff to be President in spite of his background in creating jobs for Americans? Seems that, in comparison to President Obama who is excels at spending taxpayer money but nothing else, people are looking for an economic leader. This might be their guy in four years (but will the US fiscally survive four years of Obama’s spend-a-thon?).

But now, with a more statesmanlike bearing and some measured criticisms of the Obama administration, Romney suddenly seems like the only adult left standing among the 2012 Republican presidential hopefuls.

It’s early, of course – ridiculously early – for anyone except potential candidates to be thinking about the next presidential race. But there’s been plenty of positioning going on in the now-leaderless GOP, including a head-scratching debut by one promising contender, Louisiana Governor Bobby Jindal, and a parade of speeches by some others at the Conservative Political Action Conference late last month.

And while much of the CPAC spotlight went to someone who isn’t a candidate for president – radio personality Rush Limbaugh, who came off as either boorish or straight-talking, depending on your political temperature – it was Romney who walked away with the best reviews and victory in the convention’s presidential straw poll.

03/11/2009 Posted by | Free Market Economics | | Leave a comment

Congress is Spending $1 Billion an Hour

Senator Minority Leader Mitch McConnell (R-Ky.) has come up with a vivid new way to express his contention that the nation is spending way too much money it doesn’t have.

McConnell includes the tweaks in his opening remarks on the Senate floor on the 51st day that President Obama has been in office.

“In just 50 days, Congress has voted to spend about $1.2 trillion between the Stimulus and the Omnibus,” McConnell says. “To put that in perspective, that’s about $24 billion a day, or about $1 billion an hour—most of it borrowed. There’s simply no question: government spending has spun out of control.”

The math: 50 days times 24 hours equals 1,200 hours. 1,200 times 1 billion equals 1.2 trillion (a thousand billions is a trillion).

Even as he proposes a huge increase in the reach of government, the president continued to try to show his concern about spending by making an announcement Wednesday about earmark reform.

03/11/2009 Posted by | Obama - Spending Bills | | Leave a comment

Capping CEO Pay, Next Capping University Pay for Admin’s?

Correction on a previous post – I would support capping salaries for ANYONE who takes federal money, ranging from private businesses to university presidents. That certainly would create the proper incentive to get people out from sucking on the government’s tithe.

In the hubbub surrounding President Obama’s decision to cap salaries of commercial-bank CEOs at $500,000 (if they receive future federal funds), the salaries of college and university presidents have been flying under the radar. Some reconsideration is due, particularly because substantial taxpayer dollars go into their services, with more funds coming via the stimulus package. State and federal taxpayers subsidize public universities substantially, but even private schools benefit from things like tax-subsidized student loans and tax-funded faculty research.

If there is good reason to prevent tax dollars from finding their way into supposedly excessive bank CEO salaries, what about the salaries of their college and university counterparts? Not important, you say? Let’s look at some numbers.

Higher education’s bible—The Chronicle of Higher Education—publishes a survey of college and university presidents’ compensation packages each year. The most recent appeared November 21, 2008. Presidents were grouped by types of institution to promote comparability. For our purposes the most important distinction was between presidents at public research universities with at least 10,000 students (like Ohio State University) and presidents at private universities with very high research activity (like University of Chicago). In university lingo, “research” means lots of “government research grants.”

03/11/2009 Posted by | Capping Pay | | Leave a comment

When Obama Says “Sacrifice”, He Means ONLY YOU

You would think with all of the talk about how Barack Obama needs to get some rest, the man might start to ease up a little and take a break. Not the case with this man on the go. Top of today’s list: Education.

And I quote:

Every so often, throughout our history, a generation of Americans bears the responsibility of seeing this country through difficult times and protecting the dream of its founding for posterity. This is a responsibility that has fallen to our generation. Meeting it will require steering our nation’s economy through a crisis unlike any we have seen in our time. In the short-term, that means jumpstarting job creation, re-starting lending, and restoring confidence in our markets and our financial system. But it also means taking steps that not only advance our recovery, but lay the foundation for lasting, shared prosperity.

When you say that this is a responsibility that has fallen to our generation, wouldn’t it be more accurate to say the next eight generations to come? I mean, let’s be honest. Your generation isn’t making the tough choices and sacrifices you talked about at the inauguration. Your creating more debt and spending money that you your generation won’t be around to payback.

In other words, thank you President BO for running up a bill and expecting the rest of us who DIDN’T VOTE FOR YOU to pick up the check.

03/11/2009 Posted by | Obama - Domestic Policy | | Leave a comment

Former DNC Gets $18M from Biz, Biz Goes Bankrupt

Terry McAuliffe, former DNC Chairman, and his prior business connections:

“This is a bad time to have a reputation for making lots of money, primarily due to your personal connections. Ten years ago, McAuliffe turned a $100K stock buy into $18M thanks to his relationship with the CEO of Internet firm Global Crossing. Shortly thereafter the company went bankrupt, the stock price collapsed and 10,000 employees lost their jobs. This was not the only questionable deal he was associated with. But it was part of a pattern in his business life of using insider connections that made him very wealthy.”

03/11/2009 Posted by | Liberal Business | | 1 Comment

50 Days Later: What has Obama Accomplished?

Obama’s accomplishments in his first 50 days in office:

* The $787 billion stimulus, gargantuan as it was, was in fact too small and not aimed clearly enough at only immediate job-creation.
* The $275 billion home-mortgage-refinancing plan, assembled by Treasury Secretary Tim Geithner, is too complex and indirect.
* The president gave up the moral high ground on spending not so much with the “stim” but with the $400 billion supplemental spending bill, larded as it was with 9,000 earmarks.
* The administration is throwing good money after bad in at least two cases—the sinkhole that is Citigroup (there are many healthy banks) and General Motors (they deserve what they get).
* The failure to call for genuine sacrifice on the part of all Americans, despite the rhetorical claim that everyone would have to “give up” something.
* A willingness to give too much leeway to Congress to handle crucial details, from the stim to the vague promise to “reform” medical care without stating what costs could be cut.
* A 2010 budget that tries to do far too much, with way too rosy predictions on future revenues and growth of the economy. This led those who fear we are about to go over Niagara Falls to deride Obama as a paddler who’d rather redesign the canoe.
* A treasury secretary who has been ridiculed on “Saturday Night Live” and compared to Doogie Howser, Barney Fife and Macaulay Culkin in “Home Alone”—and those are the nice ones.
* A seeming paralysis in the face of the banking crisis: unwilling to nationalize banks, yet unable to figure out how to handle toxic assets in another way—by, say, setting up a “bad bank” catch basin.
* A seeming reluctance to seek punishing prosecutions of the malefactors of the last 15 years—and even considering a plea bargain for Bernie Madoff, the poster thief who stole from charities and Nobel laureates and all the grandparents of Boca. Yes, prosecutors are in charge, but the president is entitled—some would say required—to demand harsh justice.
* The president, known for his eloquence and attention to detail, seemingly unwilling or unable to patiently, carefully explain how the world works—or more important, how it failed. Using FDR’s fireside chats as a model, Obama needs to explain the banking system in laymen’s terms. An ongoing seminar would be great.
* Obama is no socialist, but critics argue that now is not the time for costly, upfront spending on social engineering in health care, energy or education.

Hope and Change!!!

03/11/2009 Posted by | Obama - Cabinet, Obama - Domestic Policy, Obama - Foreign Policy, Obama - Housing Bill, Obama - Spending Bills, Obama - Stimulus Bill | | Leave a comment

EU says NO to Debt Stimulus, Obama says YES

Disagreements between the European Union and the US over how to combat the global recession widened on Tuesday as EU governments made clear they had little appetite for piling up more debt to fight the collapse in output and jobs.

Finance ministers from the 27-nation bloc insisted in Brussels that it was doing enough to support world demand and did not need at present to adopt another fiscal stimulus plan, as Washington is urging.

03/11/2009 Posted by | Obama - Spending Bills, Obama - Stimulus Bill | | 1 Comment