Thanks to our guest, Peter J. Wallison, Arthur F. Burns Fellow in Financial Policy Studies at AEI, general counsel of the US Treasury Department and White House counsel to President Ronald Reagan, and author of Bad History, Worse Policy: How a False Narrative About the Financial Crisis Let to the Dodd-Frank Act.
Thanks to my friend Matt Baker for the two cool new promos for the show!
SL (Smart Listener) Mensa sent us these quotes from John Maynard Keynes, which I wanted to share since we were talking about all the Keynesian crap that Gene Sperling and Barack Obama are trying to sell you. Link here. Don’t be played.)
“I believe that in many cases the ideal size for the unit of control and organisation lies somewhere between the individual and the modern State. I suggest, therefore, that progress lies in the growth and the recognition of semi-autonomous bodies within the State-bodies whose criterion of action within their own field is solely the public good as they understand it, and from whose deliberations motives of private advantage are excluded…”
“For my part I think that capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself it is in many ways extremely objectionable. Our problem is to work out a social organisation which shall be as efficient as possible without offending our notions of a satisfactory way of life.”
-John Maynard Keynes
Washington’s Economic Boom, Financed by You – NYTimes.com (While the rest of the country suffered in the Obama economy, Washington D.C. was a boom town, thanks to tax dollars. Now we are supposed to feel bad because some federal employees might be furloughed for a day or two?)
Shepherds and Sheep | RealClearPolitics (the column I mentioned when talking to our guest Peter Wallison, containing the lines “Yes, we all make mistakes. But do governments not make bigger and more catastrophic mistakes?”)
Dennis Rodman and His New BFF, Nork Dictator Kim Jong Un (Thought Experiment: did he do any worse than Jimmy Carter in 1994? That’s a rhetorical question. The answer is no!)
The Real Jimmy Carter: How Our Worst Ex-President Undermines American Foreign Policy, Coddles Dictators and Created the Party of Clinton and Kerry: Steven F. Hayward: Amazon.com: Books (Book I read from re the King of the Useful Idiots trip to North Korea in 1994, after which the grandfather of the current dictator allegedly died from laughing after negotiating with Jimmuh.)
Justice Scalia’s comment during last week’s oral argument over Sec. 5 of the Voting Rights Act has Left even more unhinged than usual because he accurately described “preclearance,” what was supposed to be a temporary remedy as “racial entitlement.”
Soundbite I didn’t have time to play, in which liberals express outrage over Court invalidating legislative enactment. From MS-NBC’S “Up with Chris Hayes,” featuring Judith Browne Dianis, of something called the Advanceproject.org, and Akhil Reed Amar, of Yale Law School. Thought experiment: will they feel the same way about the Court reviewing the Defense of Marriage Act?
Redistricting, Race, and the Voting Rights Act > Publications > National Affairs (thorough explanation of this law, and especially the changes to Section 5 over the years, and why Justice Scalia was absolutely correct when he referred to “racial entitlement”)
“Dumb, inexcusable and unnecessary.” That’s what Barack Obama called the unthinkable, the thing that he declared last fall would never happen, the so-called, “sequester,” mandatory reductions in the rate of growth for various federal agencies. Dumb, inexcusable, unnecessary, and also his idea, as it is now universally acknowledged. Here’s the reality: The One rolled the dice and he lost. He bet that the Republicans would be unwilling to allow the Defense Department, which is taking the brunt of the “cuts,” to see its budget reduced, and he was wrong. Now, he is engaging in a cringe-inducing, passive-aggressive game, one in which he says “If you don’t do what I want, and send more money to Washington for me to throw down various ratholes, I’m going to inflict as much pain as possible on the American people.” Thanks to Bob Woodward, everyone acknowledges that this horrible, unimaginably terrible reduction of 2.3% in the rate of growth in federal spending, yet he continues to refuse to own it. Is he delusional, and doesn’t he realize that the Lame Stream Media may be turning on him? This whole thing is starting to look like that Florida sinkhole, with Obama in the role of the guy who was swallowed.
This man’s unwillingness to accept responsibility for any of his actions is part of a pattern. He has spent to the last five years speechifying against “those who caused our economic problems in the first place,” by which he means the private sector in general, and those evil Wall Street profiteers specifically, several of whom became part of his administration. Our guest, Peter Wallison, Arthur F. Burns Fellow in Financial Policy Studies at AEI, general counsel of the US Treasury Department and White House counsel to President Ronald Reagan, will join us to discuss actual cause of the financial crisis of 2008. That’s the subject of his new book, Bad History, Worse Policy: How a False Narrative About the Financial Crisis Led to the Dodd-Frank Act. Surprise–the government, not the private sector, bears most of the responsibility, and “community organizers” like Barack Obama were instrumental in causing the mess in the first place. Whether it’s the sequester or the housing bubble, perhaps we should adopt the same policy that I advocated back in the day when O.J. Simpson was looking for “the real killer.” We should send the Celebutard-in-Chief a mirror.
Justice Scalia has the Left even more unhinged than usual over his comments in last Wednesdays oral arguments about Section 5 of the Voting Rights Act.
Tune in today for the rest of the story.
Politics, Pop Culture, the Hottest Issues of the Day, and Your calls. The Teri O’Brien Show, featuring America’s Original Conservative Warrior Princess, Live and in color, Sundays 4-6 pm Central time at http://www.blogtalkradio.com/Teri-OBrien. Daring to Commit Common Sense, Fearlessly, and More Important, Cheerfully, in the Age of Obama.
Make My Day: Text “FAN TOBCWP” to 32665
Can’t listen live? Download it from iTunes and listen on demand.
As one listener wrote “one of the most insightful and entertaining pundits in America. Also, her voice is magical.”
Serious Ideas, Irresistible Entertainment. Warning: listeners may become hopelessly addicted.
Yesterday on the Today Show, Warren Buffett brilliantly explained why raising taxes of people with high incomes is such an awesome idea. Did he cite reducing the $16 trillion debt, which will be $20 trillion by the time B. Hussein Obama is through? Granted, that would be a stupid reason, since sending your money to Washington, D.C. in the hope of that the weasels there will use it to pay down debt is like giving a crack addict your credit card so he can pay his rent. At least, though, that would have been a defensible position, based in economics and finance, not the sort of moronic, emotionally driven crap I’d expect to see on “Katie.” He said
Raising taxes on the rich won’t dampen economic growth and would “raise the morale of the middle class,” billionaire investor Warren Buffett told the TODAY show Tuesday. Echoing a theme he has stressed often, Buffett downplayed the idea that higher taxes for the wealthy, as proposed by the Obama administration as part of a deal to resolve the “fiscal cliff,” would scare off critical investment for job creation. Republicans argue that raising taxes on people in higher tax brackets would choke off investment and slow the economy at a time when it can ill afford it. Buffett disagrees. “No, and I think it would have a great effect on the morale of the middle class,” said Buffett, in the first of two live interviews with TODAY’s Matt Lauer. “They’ve had to watch guys like me pay below the rate by that paid by the people in my office.”
Seriously? Let me get this straight. An 82-year-old guy who has more money than God, and whose accumulated wealth will not be affected by his absurd tax proposals, wants to confiscate the earnings of other Americans and punish their success because it will make some other people feel good? And they will feel good because they are watching their fellow Americans be punished? I am personally insulted by the accusation that seeing the government steal from the productive would be a feel good moment for me. How about you? I don’t doubt that it would be one for Mr. Buffett, since like many of the very wealthy, he is apparently feeling oh so guilty about having a lot of money. So that he, many celebutards, and other people with more money than brains can absolve their guilt, we all should suffer under no-growth, high-tax policies.
By the way, Warren, how is it that you can be the “Oracle of Omaha” and not realize that if you want your secretary to pay taxes at the investment rate rather than the rate paid by wage earners, why don’t you just pay her in stock?
As my grandmother always said, there’s no fool like an old fool.
Thanks to all of you who voted for the Teri O’Brien Show as Talk Show of the Year on Red State Talk Radio. We won! We really appreciate your encouragement and support! Politics, Pop Culture, the Hottest Issues of the Day, and Your calls. The Teri O’Brien Show, featuring America’s Original Conservative Warrior Princess, Live and in color, Sundays 4-6 pm Central time at http://www.blogtalkradio.com/Teri-OBrien. Daring to Commit Common Sense, Fearlessly, and More Important, Cheerfully, in the Age of Obama. Make My Day: Text “FAN TOBCWP” to 32665 Can’t listen live? Download it from iTunes and listen on demand. As one listener wrote “one of the most insightful and entertaining pundits in America. Also, her voice is magical.” Serious Ideas, Irresistible Entertainment. Warning: listeners may become hopelessly addicted.