Conservatives have gleefully made Obama eat his words about small business owners not building their own businesses. Now Obama is playing damage control by attempting to walk back his statement. He might as well try to walk back his quote to Joe the Plummer, about “spreading the wealth around.” The prevarication here lies in Obama’s attempt to characterize his opponent’s exposé as taking his words “out of context”. Our analysts at the NIP have been working overtime to bring you the facts. First the original clip:
Now here is Obama’s attempt to walk this back:
In this video Obama asserts that his comments were taken out of context. I would not be too sure about that. Indeed his original sentiments echo a commonly held liberal position recently espoused by Democratic candidate Elizabeth Warren:
Political demagoguery seems to be the ruling order of the day. In contrast, Charles Krauthammer refutes the liberal philosophy that underlies the supposition behind Obama’s original statement and Elizabeth Warren’s position. It is worth a read: Did the State Make You Great?
According to the Milwauakee Journal Sentinel:
Windels was charged with two felony counts “bomb scare” and two misdemeanor counts of “computer message-threatening injury/bodily harm.” If convicted, each felony count carries a maximum penalty of three years and six months in prison and a $10,000 fine, and each misdemeanor count carries a maximum penalty of 90 days in prison and a $1,000 fine.
Her e-mails got a lot of play when they first appeared. They were particularly vicious. Here is the complete text of one:
Sent: Wed 3/9/2011 9:18 PM
To: Sen.Kapanke; Sen.Darling; Sen.Cowles; Sen.Ellis; Sen.Fitzgerald; Sen.Galloway; Sen.Grothman; Sen.Harsdorf; Sen.Hopper; Sen.Kedzie; Sen.Lasee; Sen.Lazich; Sen.Leibham; Sen.Moulton; Sen.Olsen
Subject: Atten: Death threat!!!! Bomb!!!!
Please put your things in order because you will be killed and your familes will also be killed due to your actions in the last 8 weeks. Please explain to them that this is because if we get rid of you and your families then it will save the rights of 300,000 people and also be able to close the deficit that you have created. I hope you have a good time in hell. Read below for more information on possible scenarios in which you will die.
Here is the problem the US faces in a nutshell. This will make no sense to those members of Congress and the President who have never run a business, never studied accounting, and don’t know how to read a balance sheet. We are presenting the information here as a warning to NIP readers. If you read the full report you will understand the severity of the economic situation we are facing in the United States.
Mary Meeker, partner at Kleiner Perkins Caufield & Byers served as a managing director and research analyst ad Morgan Stanley from 1991 to 2010. She states that the net worth of the US is a negative $44 trillion dollars. You need to download and study her entire analysis from Business Week. The graph below is taken from the report and shows revenue vs expenses. What the graph doesn’t show is the rapid growth of expenses and the comparatively minor growth of revenue.
The politicians and socialist media have control of what Americans read, view, and think. Their ignorance of finance and their predilection for social justice have driven this country into bankruptcy. It is the NIP’s position that the destruction of freedom and our way of life is the goal of the left. Like the British and Roman empires, our republic may soon become one more footnote of history. Beware the ides of March.
WASHINGTON: Saturday saw the House pass a $1.2 trillion continuing resolution to fund the government through the rest of this year. The resolution contains cuts totaling $61 billion. Cuts target NPR, Planned Parenthood, border security, education and other federal programs. Senate Majority Leader Harry Reid and other senate democrats have called the measure “extreme.” Speaker of the House John Boehner has threatened a shutdown of the federal government if the resolution is not passed. Obama and the democrats have vowed a fight on Boehner’s threat to shut down the government.
With all the posturing on both sides it is easy to not see the forest for the trees. $61 billion is only 5% of $1.2 trillion dollars. The US will have to borrow $516 billion to finance the $1.2 trillion and our politicians are arguing about defunding NPR and Planned Parenthood? What is needed is a much larger cut, say $516 billion.
Let’s look at it this way. Your household has a credit card limit of $25,000 and you are over the limit by $10,000, owing a total of $35,000. Your bank calls you to reign in spending and threatens to report you to the credit agency and downgrade your credit (think Moody’s). You tell the bank how serious you are about cutting back, and you tell your banker that you were thinking about adding another $20,000 to your debt this year but are going on an austerity spending program and are only going to spend another $19,000, that will hold your debt to “only” $49,000. That’s the kind of “extreme” fiscal discipline the Republicans are suggesting.
BTW- your share of the Federal debt? $45,000 and climbing. (See the live counter to the right.) You will need to pay it back. Why aren’t you angry?
WASHINGTON: Obama released his budget yesterday as a Valentine’s Day present to the US. His $3.7 trillion budget includes a deficit of $1.1 trillion. Obama’s proposal includes “tough choices and sacrifices,” which he asserts will bring about a reduction of the budget deficit in years to come. Such nonsense is all too readily trumpeted by the news media and too easily swallowed by the American public.
The reality is quite different. Budgets decisions are made from year to year, and no Congress or President today can dictate the actions of a Congress or President in the future. The only thing we can count on is that this year’s budget will increase our national debt by at least $1.1 trillion.
Such reckless spending may be in itself the precursor to the economic collapse of the US, according to Niall Ferguson, the Laurence A. Tisch Professor of History at Harvard University, resident faculty member of the Minda de Gunzburg Center for European Studies, Senior Research Fellow of Jesus College, Oxford University, and Senior Fellow of the Hoover Institution, Stanford University:
Throughout history the rise and fall of empires isn’t slow or cyclical, as we like to think, but arrhythmic…it mostly happens very, very suddenly. America is a superpower on the edge of chaos. U.S. debt levels and its unwillingness to address the problem, has put it in the same category as other great empires which have collapsed throughout the ages.