Solyndra and Limited Government

Sure this was a bad investment from the git go and it reeks of crony capitalism, but neither of these were invented by this Administration.  For me, the biggest problem here is any government trying to act as a Venture Capital Firm.  Venture Capitalists are investing their own money, the Government is using yours.  Venture Capitalists have but one goal which is to turn a profit.  The Government especially in this case places a higher priority on their Political Ideologies and Re-election.  The current Administration has held up "Green Energy" as one of their highest priorities.

Our country is in 3+ Wars, has record Unemployment, had our debt rating downgraded, hasn't had a budget in 850+ days and were seeing the National Debt projections skyrocket.  You would hope that Tinkering with start up firms would be off their radar, but no there is an election next year and their looking for something that they can call success.  Now all they have is a scandal.


http://blog.heritage.org/2011/09/30/morning-bell-the-solyndra-legacies/?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell

The Cain Mutiny and 999

I've been researching comments regarding Cain's 999 plan.  Of course there is a lot of Liberal Trash Talk on the Web, but here are 3 recent videos/articles from the Wall Street Journal.  The Concept of 999 is:

1. 9% Flat personal income tax
2. 9% Sales Tax
3. 9% Business Tax

Ok, if your a Conservative you intuitively believe that less regulations, limited government and a business friendly government will generate tons of jobs and Government Revenue.  So far so good.  Also, the plan is Bold and amazingly simple to understand AND it trashes the current totally complex and inefficient tax system.  However, we haven't yet seen any details as to the Assumptions and Forecast Mechanisms that would make this really understandable.  We don't even know who the Economists are who worked on this (No doubt students of Arthur Laffer.  Could Stephen Moore be one of them?)

Bottom line is I like the concept BUT really want to see more of the Details.  Here are links to these articles:

http://online.wsj.com/video/opinion-can-herman-cain-win-/A8FB0CAD-3A70-4089-8512-1429007F4595.html?KEYWORDS=herman+cain+999+plan 

http://online.wsj.com/article/SB10001424052970204226204576599031274832242.html?KEYWORDS=herman+cain+999+plan 

http://online.wsj.com/article/SB10001424052970204138204576600760327683564.html?KEYWORDS=herman+cain+999+plan

Herman Cain Bio

Do you know Herman's background?  It's very impressive.  It's true that he had no Public Political experience - but rising to the top in major corporations takes a Lot of Political insight.  It's also true that he has no real Foreign Policy experience but that is true of Romney and Perry as well.  And of course the guy that was elected in 2008 had NO EXPERIENCE - NADA.

Don't get me wrong, I haven't made up my mind yet, it's too early - but Herman is on my list!

HERMAN CAIN BIOGRAPHY

Herman Cain grew up in Atlanta, Georgia with loving parents and little else. His father worked three jobs—as a janitor, a barber and a chauffeur—and his mother was a domestic worker. Even though these jobs required hard work and little glamour, his parents knew this life was better than the dirt farms upon which they grew up. They also knew that this hard work was the key to achieving their American Dreams.

Herman’s parents had two dreams. First, they wanted to own their own house. Secondly, they wanted both of their children to graduate from college. During the segregation era in the Deep South, these aspirations might have seemed lofty, but they knew that if they kept their faith in God, faith in themselves and faith in the greatest country on the Earth, they could achieve.

The first dream was realized in a modest brick house on Albert Street in Atlanta, Georgia. After years of saving from his many jobs, Herman’s father surprised the whole family, even his wife, by purchasing a home for their family. The second dream was realized when Herman graduated from Morehouse College with a degree in mathematics in 1967. His brother, Thurman, would go on to graduate from Morris Brown College.

Inspired by the work ethic and character of his parents, Herman continued his education by earning his Master’s degree in computer science from Purdue University while working full-time developing fire control systems for ships and fighter planes for the Department of the Navy. Though Herman enjoyed using his talents as a civilian employee for the Navy, he gravitated towards the culture of business.

Herman returned to his home of Atlanta to begin working as a computer systems analyst for the Coca-Cola Company. After considerable success at Coca-Cola, he moved to the Pillsbury Company. Within a short period of time, Herman rose to position of Vice President. Although the comforts of a corner office on the 31st floor of a majestic corporate building seemed satisfying, Herman knew that he needed a challenge.

He became the regional vice president of Pillsbury’s Burger King division. This meant starting from the “ground up,” dodging grease fires and broiling hamburgers. Herman was assigned to lead a low performing region of 450 of their restaurants. Within three years, it became the best performing region in the company.

Energized by overcoming the many obstacles of his job at Burger King, Herman took on the biggest challenge of his career. He accepted the call to become the President and CEO of Godfather’s Pizza, a company that was teetering on the edge of bankruptcy. In just 14 months, Herman returned Godfather’s to profitability and he led his management team to a buyout of the company.

His professional successes garnered the respect and admiration of industry peers who named him the President of the National Restaurant Association. Under Herman’s administration, the group grew significantly and began to lobby for the interests of America’s restaurateurs and small business owners.

In 1994, as head of the National Restaurant Association, he had the opportunity to speak with President Clinton during a nationally televised town hall meeting. Here, Herman challenged the President regarding the impact on businesses if his health care overhaul proposal were passed. President Clinton attempted to assure him and the millions of viewers watching at home that his legislation would not harm American business owners and their employees.

Herman was skeptical. “Quite honestly Mr. President, your calculations are incorrect,” he said. “In the competitive marketplace, it simply doesn’t work that way.” His words echoed across America, and Newsweek named Herman Cain the primary saboteur of Hillarycare.

Through these and other appearances on behalf of the National Restaurant Association, Herman began working with business leaders across all sectors of the American economy. This led to his acceptance of a position on the Board of Directors of the Federal Reserve Bank of Kansas City, and he was subsequently elected their chairman. In this role, he analyzed economic conditions in the region and notified the Federal Reserve of how their policies should respond.

Most recently, he hosted a radio talk show, “The Herman Cain Show,” on Atlanta’s WSB 750 AM/ 95.5 FM. He serves as a regular contributor on several broadcast networks and as a keynote speaker at conferences and events around the nation.

Despite the many professional commitments of his life, Herman continues to enjoy most the time spent with family and friends. As his children got married and had their own children, he knew that he had an extraordinary obligation to do what he could to make this a safe and prosperous nation for them. The paramount joys in his life are his wife, Gloria, his children and his grandchildren.

Fast and Furious Slime from DOJ

I attended the Second Amendment Foundation Conference today "The 2011 Gun Rights Policy Conference".  It was one of the most Professional and Informative Conferences that I've ever attended.  Just about everyone involved in fighting for the 2nd Amendment was there including (but not all) Otis MacDonald (recent Supreme Court Decision over Chicago), his great attorney Alan Gura (he's just killing the opposition in the Federal and Supreme Court), the Rev. Ken Blanchard, and many representatives from other States who gave updates on their laws.  (Did you know that on November 1st, if you have a conceal carry license from any other state you can carry in Wisconsin?) This was a National Conference and also had reps from Canada and Italy.  Also, attending were other lawyers who reported on their cases and various Gun Rights Bloggers which leads me to recommend the web site below that was started by disgruntled ATF agents in an effort to clean up the agency and the DOJ.  When you get to the first forum topic you will see me listed as Jerzboy.

It was good to see so many 2nd Amendment Activists in one room.  Check out the SAF, it's a very important leader in the fight to defend our 2nd Amendment Rights.


http://cleanupatf.org/forums/

Fact Check on Millionaire Taxes

The Associated Press just published a rebuttal to Obama's claim regarding how much millionaires pay in taxes.  While it's true that 1470 millionaires did not pay taxes they represent only 1% of the 237,000 millionaires who paid taxes.  The average % paid by millionaires was 29.1 % of their income.

Once again, Obama takes a snippet of data and uses it to mis-inform the public for no other reason than using Class Warfare to energize his re-election.

http://abcnews.go.com/Politics/wireStory/fact-check-rich-taxed-secretaries-14561376

Obama's Failed Economic Initiatives

The following is taken from the House Budget Committee web site with some add ons by me.  I'm parking it here for future updates.

HBC Publications

A Brief History of President Obama’s Fiscal Record Setting the Record Straight July 15, 2011 Despite newfound concern with the debt overhang stifling economic growth, President Obama’s record falls far short of his rhetoric. Let’s review the decisions made by President Obama and Congressional Democrats over the past couple of years, and the disappointing results of their policy choices: January 20, 2009 President Obama sworn into office President tells the American people in his Inaugural Address: “Those of us who manage the public's dollars will be held to account, to spend wisely, reform bad habits, and do our business in the light of day, because only then can we restore the vital trust between a people and their government.” Debt Held By Public = $6.31 trillion February 17, 2009 President Signs into Law the Spending Stimulus The stimulus adds $821 billion in new spending according to the Congressional Budget Office (CBO). The White House promises this infusion of spending and borrowing would keep unemployment rate below 8%. As millions of Americans are painfully aware, that promise was broken. Debt Held by Public = $6.48 trillion February 26, 2009 President Issues FY2010 Budget The President’s budget adds $2.7 trillion in new debt in FY2010 and imposes $1.4 trillion in new taxes. Debt Held by Public = $6.58 trillion March 11, 2009 President Signs FY2009 Omnibus Appropriations Act The massive spending bill includes 8,696 earmarks at a cost of $11 billion. The spending bill adds $19 billion in new spending above the baseline – an 8.6% spending increase. Debt Held by Public = $6.66 trillion April 29, 2009 Congressional Democrats Pass FY2010 Budget The Congressional Democrats’ budget calls for a $2 trillion debt increase in 2010, and another 8.9% increase in non-defense discretionary spending. The reconciliation process is abused to later pave the way for health care overhaul to be jammed into law. Of note: this is the last time Congressional Democrats will bother budgeting. Debt Held by Public = $6.85 trillion February 2, 2010 President Issues FY2011 Budget The President’s budget more than doubles the debt; pushes the FY2011 deficit to a new record of $1.6 trillion; drives spending to a new record of $3.8 trillion in fiscal year 2011; and raises taxes by more than $2 trillion through 2020, under the administration’s own estimates. Debt Held by Public = $7.85 trillion March 23, 2010 President Signs Health-Care Overhaul Into Law The massive new law adds $1.4 trillion in new spending over the next decade, and over $2.5 trillion once the law is fully implemented. Despite sluggish economic growth and high unemployment, the law imposes over $500 billion in new tax hikes. CBO Director Elmendorf would later testify that the law would reduce employment by roughly half a percent – a reduction of approximately 800,000 jobs. Debt Held by Public = $8.18 trillion April 15, 2010 Congressional Democrats Decide Not to Do a Budget for FY2011 The 1974 Budget Act requires Congress to pass a budget each year by April 15. In an unprecedented budget failure, House Democrats not only failed to pass a budget – they opted to not even propose a budget. Debt Held by Public = $8.39 trillion July 21, 2010 President Signs Financial Regulatory Overhaul Into Law In addition to heightened regulatory uncertainty, the massive new law adds $10.2 billion in new spending. Debt Held by Public = $8.69 trillion February 14, 2011 President Issues FY2012 Budget The President’s budget yet again calls for the doubling of the debt in five years, and tripling the debt in ten years. The President’s budget spends $47 trillion over the next decade, imposes over $1 trillion in new tax hikes, and fails to address the drivers of the debt. Debt Held by Public = $9.45 trillion April 13, 2011 President Delivers Speech on Deficit Reduction The President appears to abandon his own budget by offering a ‘framework’ that calls for additional tax increases, defense spending cuts, and Medicare price controls – yet lacks sufficient detail to back-up claims of deficit reduction. Debt Held by Public = $9.65 trillion April 15, 2011 House Passes FY2012 Budget Resolution The House-passed budget cuts $6.2 trillion in government spending over the next decade, saves Medicare, strengthens the social safety net, lifts the crushing burden of debt, and spurs economic growth and job creation. Senate Democrats fail to meet their legal requirement to pass a budget by April 15. Debt Held by Public = $9.68 trillion April 18, 2011 S&P Issues Credit Warning on U.S. Debt The rating agency sets off the latest alarm bells, warning of lawmakers of unsustainable fiscal course. President Obama has still not proposed a credible budget; Senate Democrats have still not proposed any budget. Debt Held by Public = $9.68 trillion May 13, 2011 Medicare and Social Security Trustees Issue Warning of Looming Insolvency According to the programs’ own trustees, the unsustainable future of Medicare and Social Security threatens the health and retirement security of America’s seniors. President Obama and Congressional Democrats continue to engage in a partisan campaign to attack efforts to save and strengthen these critical programs – while offering no serious solutions of their own. Debt Held by Public = $9.67 trillion May 25, 2011 Senate Unanimously Rejects President’s FY2012 Budget; Vote is 97-0 While the President’s plan to accelerate our nation toward bankruptcy is unanimously rejected, the stunt on the Senate floor reveals the bankruptcy of Senate Democrats’ ideas. Senate Democrats have still not proposed any budget. Debt Held by Public = $9.72 trillion June 23, 2011 CBO Director Further Discredits President’s Fiscal Record In testimony before the House Budget Committee, CBO Director Doug Elmendorf responds to questions on the President’s ‘Framework’: “We don’t estimate speeches. We need much more specificity than was provided in that speech for us to do our analysis.” Debt Held by Public = $9.74 trillion July 8, 2011 Unemployment Hits 9.2%; Day 800 Since Senate Democrats Last Passed A Budget A devastating jobs report that shows the unemployment rate at 9.2% coincides with the 800th day since Senate Democrats last thought the federal government needed a budget. Debt Held by Public = $9.75 trillion July 11, 2011 Senator Conrad Gives Budget Speech on Senate Floor On Day 803 since the Senate last passed a budget, Senate Budget Committee Chairman Kent Conrad takes to the Senate floor to deliver a speech about the Senate Democrats’ non-existent budget resolution. Senator Conrad makes the case for imposing over $2 trillion in new taxes, but provides no actual budget resolution and no credible details. Debt held by Public = $9.75 trillion July 15, 2011 President Holds Press Conference: “We’re Running Out of Time” to Deal with Debt President Obama tells reporters: “I've got reams of paper and printouts and spreadsheets on my desk, and so we know how we can create a package that solves the deficits and debt for a significant period of time. But in order to do that, we got to get started now.” The American people have still not seen any “paper” or “printouts” of what specific spending cuts the President supports. The American people have still not seen any “spreadsheets” from the White House to corroborate their claims of having offered a deficit reduction plan. While it’s long past time for Washington “to get started now” on tackling our debt problems, President Obama has still not proposed a credible budget, and Senate Democrats have still not proposed any budget. Debt Held by Public = $9.75 trillion

Added by APC Staff

·        Mid-August 2011 – President says he has plan for Jobs growth but is too busy on riding around the Mid-West in his new bus campaigning.  (He had two buses built, each costing $1.1 Million.)  He says he’ll let us know right after his vacation on Martha’s Vineyard.

·        Early September 2011, President calls a Session of the Total Congress to be broadcast on TV and only gives a Political Speech talking at a high level and threatening anyone who opposes his plan.  Says we have to pass IT (whatever it is) 17 times.

·        September 19, 2011 – At last the President unveils the nasty little secret.  It’s not really a new plan but the same one that has been rejected in the past and it’s loaded with debt increases and of course taxes.

Stay Tuned!

Results of Socialist Intervention in Business

Recently, the poster company of Obama's Green Energy Stimulus efforts (Solyndra) filed for bankruptcy.  We're now finding out that PriceWaterhouseCoopers had raised "SUBSTANTIAL DOUBTS about this companies ability to continue as a going concern" Before The Loan was Refinanced.  And, the Energy Company even had a representative on the companies board of directors.  Meanwhile the OMB had raised concerns about the lack of time to perform "due diligence" on the company before the loan was approved.

Meanwhile, a Congressional Investigator is suggesting that there are more companies to follow that had been beneficiaries of the Failed Stimulus Program.
This is what happens when a Socialist Government makes rush decisions for Political Expediency.

From Fox News
http://www.foxnews.com/politics/2011/09/13/gop-to-hold-hearing-on-now-bankrupt-solar-company-that-obama-once-touted/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxnews%2Fpolitics+%28Internal+-+Politics+-+Text%29&utm_content=My+Yahoo

From USA Today
http://content.usatoday.com/communities/theoval/post/2011/09/obama-team-has-solyndra-headache/1?loc=interstitialskip

From The Heritage Foundation
http://blog.heritage.org/2011/09/13/congressional-investigator-more-solar-bankruptcies-to-come/?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell

Inexperience or Dis-engenuous?

President Obama, his policies and his Agencies have consistently done things to hurt our Economy and Job Growth.  He doesn't have a Budget, his Stimulus Plans have done nothing to reduce unemployment.  Obamacare and constant tax hike proposals along with increased Regulations have created such uncertainty that Businesses that have Capital will not invest for fear of the unknown.  There have been constant comments by Business Leaders as to the impact of these policies but they fall on deaf ears in the Administration.  Here is yet another example of anti-business, anti-jobs attacks by the EPA.  And let's not forget the NLRB current attempts to block Boeing from opening a Plant in South Carolina.

This seems like such a coordinated effort by the Government that it is hard to believe that it is "inexperience".  It appears to be a concerted effort to move the U.S. to a Marxist/Socialist State.

http://blog.heritage.org/2011/09/12/texas-coal-company-announces-500-layoffs-sues-to-block-epa-regulation/?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell

Euro Stocks Savaged by U.S. Data

Well, who can Obama blame for this?  The UK lost 3.6%, Germany lost 5.3% and France lost 4.7% today.  Who knows what is going to happen Tuesday morning in the US Market?

There is just no way to put Lipstick on this pig. 


http://www.forbes.com/feeds/ap/2011/09/05/general-financials-world-markets_8659433.html

Higer Corporate Taxes Hurt Labor

The following article discusses how the US has the highest Corporate Tax Rate of all OECD companies and why this hurts laborers and jobs.

http://www.bloomberg.com/news/2011-08-30/on-company-taxes-u-s-should-follow-world-down-ramesh-ponnuru.html

Dismal Jobs Report for August

The U.S. Economy created no new jobs in August.  The real unemployment rate is 16.2% and Manufacturing lost jobs creating a fear of Contraction.  Meanwhile, the Labor Secretary is blaming Congress saying that she has solutions that she knows will work but there waiting for Congress.  (So why are they waiting to tell us about them -  Oh that's right the President was on vacation - again and he needs a National TV Audience in order to share his solutions.)

"Jobs creation remains weak, because temporary tax cuts, stimulus spending, large federal deficits, expensive and ineffective business regulations, and increased health care mandates and costs do not address structural problems holding back dynamic growth and jobs creation—the huge trade deficit and dysfunctional energy policies," Peter Morici, economist at the University of Maryland, said in an analysis.

http://www.cnbc.com//id/44370439

Joe Walsh Interview on WTTW

Attached is a link to the McHenry County Blog where Cal has posted a great interview that WTTW had with Joe Walsh on 8/31/11.  In this interview Joe discusses his "mandate" from his constituents to take a Bold stance in fighting for Fiscal Responsibility in the Federal Government.  He also discusses his own past financial problems and the law suit over child support.  Joe absolutely denies that he was behind on payments and hopes to be able to give a more detailed answer shortly.  I think we owe him the opportunity to answer this issue when it is appropriate and doesn't jeopardize the current law suit.  As for the other personal finance issues, there have been a lot of folks who have made mistakes and gone in to foreclosure.  Joe has always admitted that he made mistakes and so far has shown honesty in answering these questions.  I  hope hope that he will be able to answer the child support question in the near future. 

http://mchenrycountyblog.com/2011/09/01/youve-got-to-hand-it-to-joe-walsh/