speaking of the wealth gap…

Hey Liberals… want to close the income gap?  Fine.  End social security and medicare:

Perhaps even more surprising, federal transfer payments have done much more to increase income inequality than federal taxes. That’s because, in Ryan’s words, “the distribution of government transfers has moved away from households in the lower part of the income scale. For instance, in 1979, households in the lowest income quintile received 54 percent of all transfer payments. In 2007, those households received just 36 percent of transfers.”

 

In effect, Social Security and Medicare have been transferring money from low-earning young people (who don’t pay income taxes but are hit by the payroll tax) to increasingly affluent old people.
The Democrats, perhaps following the polls and focus groups, have been protecting these entitlement programs, which have done more to increase income inequality than the Reagan and Bush tax cuts put together.

Ryan makes three more points that may strike many as counterintuitive.

via Entitlements, Not Tax Cuts, Widen the Wealth Gap – Michael Barone – National Review Online.

the case against obama

I thought it might be helpful to remind everyone of the things they may have forgotten (or things they may not know about) the Obama administration before we all vote on Tuesday.  While this is not an exhaustive list of the things I find troubling about Obama and his 4-year presidential term, I think it hits most of the important points to consider before voting.  Let me be clear:  this essay is not an endorsement of Mitt Romney.  That being said, we can all be certain that Mitt Romney had nothing to do with any of the things mentioned here.

Lets begin with Obama’s economic policies and their outcomes.  In 2009, Obama, and a congress completely controlled by Democrats… passed a 900 billion dollar stimulus bill.  Further analysis of the bill has put the true cost at closer to $3 trillion dollars.  Never has so much money been spent at once in the course of American history.  Obama’s own economic advisors, all of whom believe in the prophylactic power of federal spending to increase demand… promised us all that if we passed this bill, unemployment would be 5.6% (in July ’12).  In reality, Obama’s unemployment rate was at 8.3%… a full 2.5 percentage points higher than (according to his own economics team) what it would have been had we done nothing.

Furthermore, in order to break the 8% unemployment mark, Obama and his team have needed to completely distort the unemployment figures by simply re-calculating the number of people in the workforce.  By removing the people who have simply given up looking for work, the Obama administration can improve the unemployment percentage because the same number of people as a percentage of a smaller workforce will ultimately result in a lower unemployed percentage.

The workforce decline artificially depresses the official unemployment rate.  If we had the same level of civilian participation as we did at the beginning of the recovery in June 2009 (65.7%), we’d be looking at a jobless rate of well over 10%.  The employment-population ratio dropped to 58.3% in August, not as low as last year’s 58.2%, but still bouncing along a generational bottom.  That measure was 59.4% at the beginning of the recovery.

If the labor participation rate were the same as when Obama took office, the unemployment rate would be 10.8%.  That is unacceptable.  Can you imagine how the left would be behaving if a REPUBLICAN president had run on this record?  We would have never-ending stories every night on the mainstream media about the sad state of some family who lost everything and how they were now homeless… we would have had the putrid reality drilled into our minds every waking moment… but we haven’t seen or heard any of those stories because the media has a partisan agenda and are hiding so much of the economic pain from us.  That’s a bit of an aside, but still worth mentioning.  Put another way:  Obama has had unemployment over 8% for 43 months… thats longer than the past 11 presidents combined… and there were at least 3 depressions during those years (perhaps more?)  See the attached info graphic for more details:

To add to this depressing statistic, I should mention that the average family income has dropped $4,537 since Obama took office.  What a tragedy.

I am reminded at this point of Obama’s response to the question of whether or not he would support higher taxes even if it didn’t bring in more revenue.   His response was that he would “look at raising capital gains taxes for the purposes of fairness”.  Well, we’ve gotten pathetic economic growth as a result of this huge stimulus bill and Obama has accomplished his goal… he has made the rich less-rich without ANY COMMESURATE GAINS on behalf of the working middle-class and poor.  It is fairness for its own sake… and that has hurt the poor far more than it has hurt the rich.

As we look at the results of the stimulus bill, things get worse.  Huge amounts of money went to failed green energy companies including Solyndra (535 million), Abound Solar (400 million), Ener1 (118 million),  Fisker Automotive (529 million) (among others).  In a speech in 2010, Obama said that “It’s here that companies like Solyndra are leading the way toward a brighter and more prosperous future.”  We all know how wrong he was in hindsight.    Furthermore, as I have written about previously, and as Peggy Noonan has mentioned in a recent column for the Wall Street Journal, much of the stimulus funds went to the President’s political donors – union members and state employees

Books will be written about what happened, but early on the president made two terrible legislative decisions. The stimulus bill was a political disaster, and it wasn’t the cost, it was the content. We were in crisis, losing jobs. People would have accepted high spending if it looked promising. But the stimulus was the same old same old, pure pork aimed at reliable constituencies. It would course through the economy with little effect. And it would not receive a single Republican vote in the House (three in the Senate), which was bad for Washington, bad for our politics. It was a catastrophic victory. It did say there was a new boss in town. But it also said the new boss was out of his league.

In Michigan,  34.5 million dollars went to companies that only created 183 jobs … for a total of 188 thousand dollars per job created.  The numbers continue to get worse.  Battery maker A123 systems received 250 million dollars in stimulus funds… only to create 408 new positions (at a cost of $300,000 per job created).  I’m afraid these sort of the stories are not the exception… but the rule.

Furthermore, it has become quite clear that Obama’s 900 billion dollar stimulus bill was not the one-time Keynesian influx it was supposed to be.  On the contrary, massive stimulus-level spending has become the new baseline for the federal government as Obama has racked up 1 trillion dollar deficits every year of his administration.  His proposed budgets are so bad that they don’t even get one Democrat vote in congress.  Obama doesn’t have the slightest credibility on budget matters at all… he was ushered into the presidency promising to cut the deficit in half (a total lie)… he then put together the simpson-bowles commission to figure out ways to cut the deficit but never once bothered to implement ANY of the simpson-bowles commission recommendations.

Although this is a bit of an aside, but since this is fresh in my memory lets point out that Obama has been one of the most partisan and inflexible presidents in modern history. His inability to work with Republicans is stunning.  His stimulus bill was so left-wing he couldn’t garner one Republican vote in the house in support of it.  In some of the initial discussions about the stimulus bill, when Republicans offered their suggestions for fixing the problem what was Obama’s response?  ”I WON” [so go f*ck yourselves] (my editorial embellishment there).  When it came time to do health care reform, again, he and his cohorts in congress stonewalled Republicans — passing the bill only through reconciliation.    Not only that, but he also has gutted one of the most impressive bipartisan accomplishments of the past few decades–welfare reform under Clinton and a Republican congress.

And before I end the topic of Obama’s economic record, I think it would be helpful to look at one more chart:

What a pathetic performance indeed.  In fact, I would posit that Obama’s unbelievably optimistic and just WRONG diagnosis of our economic ailment has actually harmed the economy as it could not be more clear to every economic actor that future profitability will be hurt significantly as we will necessarily need to raise taxes in order to pay back the debt we have accrued.

I haven’t even dug into the health care law which was consistently opposed by a significant majority of the American people… how costs are still skyrocketing… or fast & furious… or Benghazi (sp?), or Dolores Huetra or Van Jones… or the nonexistance of “shovel-ready” jobs… or how he took our credit rating down a notch… or how he gave Queen Elizabeth an iPod with his speeches on it (what a pretentious jack***)… or the 1200+ Obamacare waivers Kathleen Sebelius has granted — many of which are given to unions… Waivers that shouldn’t be needed if Obamacare is so wonderful… not to mention his assault on religious liberties against catholics… a boldfaced assault on the first amendment.  (feel free to add to this list in the comments).

Look.  Am i getting my point across?  Obama has been a disaster for this country.  He can’t name any accomplishments which is why his entire strategy this election cycle is to bash Romney on stupid sideline issues like women’s health and offshore investments.  Even if one accepts the premise that he inherited a mess (somehow it wasn’t bad enough for the stock market to go into permanent decline) the entire premise of liberalism is that if we empower the government enough, it can fix all our problems… and it hasn’t… despite record spending and painful invasions into all our lives and decisions.

The past 4 years have been a total disaster for this country… don’t let us waste another 4 years by voting for the same old solutions.

Thanks for your time.

Yet another piece of news mainstream news networks won’t cover

From the Wall Street Journal

Coal producer Alpha Natural Resources announced last week it is cutting 1,200 positions, as it closes eight mines in Virginia, West Virginia and Pennsylvania. The coal industry has been hit by competition from cheap natural gas, but Alpha made clear in its announcement that an equal problem is a Washington “regulatory environment that’s aggressively aimed at constraining the use of coal.” That’s a direct reference to the deluge of Obama Environmental Protection Agency regulations designed to force the closure of coal-fired power plants.

Arch Coal announced in June that it would idle operations in Appalachia, cutting 750 full-time jobs—10% of its work force—blaming the “challenging regulatory environment.” PBS Coal and its affiliate, RoxCoal, in July laid off 225 workers in Pennsylvania, citing “uncertainty generated by recently advanced EPA regulations.” Consol Energy at about that time cut 318 jobs in West Virginia.

Thank you, Barack Obama.

My sentiments exactly

From Charles Krauthammer over at RealClearPolitics:

At least Romney had a five point plan. What we heard from Obama was a vision. And he pulls numbers out of a hat. 100,000 new math and science teachers. 600,000 more people working in natural gas. Two million more trainees, and he doesn’t say how we get from A to B. It’s a vision. I have a vision of an America where there is no disease and everybody has a private airplane, but unless I tell you how we get there, I’ve said nothing. And what is so surprising, is that – all he had left – he can’t speak about his record on the economy, and it’s not a good one. As we heard, he didn’t speak about achievements, the one that’s liberals like, ObamaCare, stimulus and etc… they’re unpopular.

 

Oh, and this from Peggy Noonan (who I have not been impressed with lately):

The fight over including a single mention of God in the platform—that was extreme. The original removal of the single mention by the platform committee—extreme. The huge “No!” vote on restoring the mention of God, and including the administration’s own stand on Jerusalem—that wasn’t liberal, it was extreme. Comparing the Republicans to Nazis—extreme. The almost complete absence of a call to help education by facing down the powers that throw our least defended children under the school bus—this was extreme, not mainstream.

The sheer strangeness of all the talk about abortion, abortion, contraception, contraception…

“Republicans shut me out of a hearing on contraception,” Ms. Fluke said. But why would anyone have included a Georgetown law student who never worked her way onto the national stage until she was plucked, by the left, as a personable victim?

What a fabulously confident and ingenuous-seeming political narcissist Ms. Fluke is. She really does think—and her party apparently thinks—that in a spending crisis with trillions in debt and many in need, in a nation in existential doubt as to its standing and purpose, in a time when parents struggle to buy the good sneakers for the kids so they’re not embarrassed at school . . . that in that nation the great issue of the day, and the appropriate focus of our concern, is making other people pay for her birth-control pills. That’s not a stand, it’s a non sequitur. She is not, as Rush Limbaugh oafishly, bullyingly said, a slut. She is a ninny, a narcissist and a fool.

Health Outcomes Compared

If this doesn’t convince you that government-funded medical care is broke… I don’t know what will:

In July 2010, at National Review Online’s Critical Condition blog, I wrote about a University of Virginia study, published in Annals of Surgery, finding that surgical patients on Medicaid endured a 97 percent higher likelihood of in-hospital death than patients with private insurance, and a 13 percent greater chance of death than those with no insurance at all…

In many states, Medicaid pays doctors a fraction of what private insurers pay. In 2008, in California, a doctor made 38 cents on a Medicaid patient for every dollar he made seeing a privately insured one. In New Jersey, a doctor made 33 cents. In New York, 29. And states continue to decrease Medicaid physician fees, because it’s the only lever they have.

As a result, most doctors choose not to see Medicaid patients, because they can’t keep their practices alive if they do. That, in turn, makes it hard for Medicaid patients to get doctor’s appointments for annual checkups, routine care, and even urgent medical problems. A 2011 study published in the New England Journal of Medicine found that many doctors refuse to see Medicaid children complaining of seizures, uncontrolled asthma, and even broken arms.

A study by two MIT economists found that three-quarters of physicians receive lower fees for treating Medicaid patients than they do for the uninsured, because the uninsured pay in cash for routine health expenses. Cash is hassle-free.

 

How are doctors supposed to stay in business on $.29 on the dollar???  I’d love one of my liberal friends to explain that one to me.  Do they have any clue how expensive medical school is?  Does it even register to my liberal friends that patients WITHOUT any insturance at all had a lower chance of death in a hospital than patients WITH medicare?  Obamacare puts MORE people on medicare and keeps it drastically underfunded.  Is this what we want as national health policy?

ideas no footnotes can support

For some time I’ve had a sinking suspicion that TED talks are places where self-described intellectuals go to validate their sense of self-superiority. I’m not against them per-se… I’ve watched some very interesting ones over the years… but I’m happy to see someone taking a critical look at their, well, usefulness.  This from the New Republic:

Today TED is an insatiable kingpin of international meme laundering—a place where ideas, regardless of their quality, go to seek celebrity, to live in the form of videos, tweets, and now e-books. In the world of TED—or, to use their argot, in the TED “ecosystem”—books become talks, talks become memes, memes become projects, projects become talks, talks become books—and so it goes ad infinitum in the sizzling Stakhanovite cycle of memetics, until any shade of depth or nuance disappears into the virtual void. Richard Dawkins, the father of memetics, should be very proud. Perhaps he can explain how “ideas worth spreading” become “ideas no footnotes can support.”…

 

…When they launched their publishing venture, the TED organizers dismissed any concern that their books’ slim size would be dumbing us down. “Actually, we suspect people reading TED Books will be trading up rather than down. They’ll be reading a short, compelling book instead of browsing a magazine or doing crossword puzzles. Our goal is to make ideas accessible in a way that matches modern attention spans.” But surely “modern attention spans” must be resisted, not celebrated. Brevity may be the soul of wit, or of lingerie, but it is not the soul of analysis. The TED ideal of thought is the ideal of the “takeaway”—the shrinkage of thought for people too busy to think. I don’t know if the crossword puzzles are rewiring our brains—I hope TED knows its neuroscience, with all the neuroscientists on its stage—but anyone who is seriously considering reading Hybrid Reality or Smile should also entertain the option of playing Angry Birds or Fruit Ninja.

On Wine Snobs

A wine snob can talk about wine in terms that encompass history, geography and meteorology.  Wine snobs know where and why certain grapes are grown and who does the very best work in a particular vineyard.

A wine snob also takes notes.  Wine snobs are very good at writing things down.  A wine snob is also quite good at drinking–albeit in a serious, note-taking sort of way.