As promised in his address to a joint session of Congress last week, President Barack Obama on Monday sent his proposed economic plan, the American Jobs Act, to Capitol Hill and urged legislators to “pass it immediately.” He maintained that the bill “could add a significant amount to our Gross Domestic Product, and could put people back to work all across the country” and that it would not “add a dime to the deficit.”
On March 15, Rep. Ron Paul (R-Texas) introduced H.R. 1098, better known as the “Free Competition in Currency Act of 2011,” which would repeal the legal tender laws in the United States Code (Section 5103 of Title 31). In its elegant simplicity (the bill is only three pages), it would be the first step to restoring a sound currency by allowing American citizens to choose which currency among competing currencies works best for them. In his "Texas Straight Talk" for July 11, Paul presented the case for competing currencies and promised that his committee, the House Domestic Monetary Policy and Technology Subcommittee, would shortly hold hearings on his bill. On September 13, the first of those hearing was held with testimonies from Dr. Lawrence Parks, the executive director for the Advancement of Monetary Education, and Dr. Laurence White, professor of economics at George Mason University. In short, Paul told his constituents exactly what he was going to do, and then he did it. It isn’t necessary to iterate how rare such an occurrence is in Washington’s hallowed halls.
By erasing burdensome regulations, the oil industry could create one million jobs by 2018 and more than 1.4 million by 2030, according to an analysis released by the American Petroleum Institute (API). The report, prepared by Wood Mackenzie Research and Consulting and funded by API, also projects that oil production could grow by 10.4 million barrels a day and increase government revenue by $803 billion by 2030. Lifting regulatory burdens and uncorking key regions of the United States to oil exploration and development would curb gas prices, ease U.S. dependence on hostile nations, and create hundreds of thousands of jobs every year, API noted. Abrogating terrain and coastal restrictions would mean granting access to regions that are currently "off-limits" to drilling, including oil-rich areas in Alaska, the Rocky Mountains, and the Atlanta and Pacific coasts. CNSNews reported:
With the United States’ official poverty rate now at a seventeen year high of 15.1 percent — and an actual poverty level that may be substantially higher — the absurdity of President Obama’s advocacy of so-called ‘green jobs’ is increasingly clear. The continuing decline of the economies of the West, in general, and of the United States, in particular, is often measured in cold statistics; according to press reports, the skyrocketing poverty rate means that approximately 46.2 million Americans were living in poverty in 2011 — a jump of 2.6 million over the 2009 statistic. As the Washington Post reports: The total number of people living in poverty — defined in 2010 as at or below an income of $22,314 for a family of four — is now at the highest level in the 52 years the statistic has been collected. The continued rise in poverty was just the latest manifestation of a troubled economy that has left 14 million Americans out of work and caused unemployment to hover above 9 percent for 25 of the past 27 months. While record numbers of Americans live in poverty and millions more are unemployed and underemployed, the utopian schemes of Obama and others to inaugurate a new, “green” economy is laid bare for as one more empty promise.
Too much of anything is just as much a misallocation of resources as it is too little, and that applies to higher education just as it applies to everything else. A recent study from The Center for College Affordability and Productivity titled "From Wall Street to Wal-Mart," by Richard Vedder, Christopher Denhart, Matthew Denhart, Christopher Matgouranis and Jonathan Robe, explains that college education for many is a waste of time and money. More than one-third of currently working college graduates are in jobs that do not require a degree. An essay by Vedder that complements the CCAP study reports that there are "one-third of a million waiters and waitresses with college degrees." The study says Vedder — distinguished professor of economics at Ohio University, an adjunct scholar at the American Enterprise Institute and director of CCAP — "was startled a year ago when the person he hired to cut down a tree had a master's degree in history, the fellow who fixed his furnace was a mathematics graduate, and, more recently, a TSA airport inspector (whose job it was to ensure that we took our shoes off while going through security) was a recent college graduate."
Al Gore is launching a day-long live broadcast called 24 Hours of Reality to promote his global-warming message of manmade climate crisis. It begins Wednesday at 7 p.m. Central Time. His non-profit group, The Climate Reality Project (TCRP), is sponsoring the event. The same hour-long presentation will be repeated 24 times by different hosts in each time zone around the globe. Each presentation will feature local footage from its respective time zone and will be delivered in one of 13 languages. Participants in each video are touted by TCRP as "more than 3,000 activitists of The Climate Project who have been personally trained by Vice President Gore to deliver his slide show around the world." Gore took time from personally training those 3,000-plus activists for an interview with the Washington Post about the upcoming broadcast. In it he claims climate scientists are in agreement that human-caused global warming is to blame "whenever a natural disaster happens."
The "real question," former Massachusetts Governor Mitt Romney said in Monday night's debate among republican presidential candidates, is: "Does Governor Perry continue to believe that Social Security should not be a federal program, that it's unconstitutional and it should be returned to the states? Or is he going to retreat from that view?" In his cautious comments in the debate and in an op ed piece he wrote for USA Today Texas Governor Rick Perry certainly appeared to be retreating from his previous statements about Social Security, in which he called the program a "Ponzi scheme" and a failure "by any measure." (Maybe Perry remembers the smears directed against Republican presidential nominee Barry Goldwater in 1964. As John Aloysius Farrell, wrote in the Boston Globe Magazine in 1998: "When Goldwater told an audience in New Hampshire in 1964 that he preferred a voluntary Social Security system, Democrats launched a TV attack ad, showing two hands tearing up a Social Security card. It was a factor in Lyndon Johnson's landslide victory that year.") But if he is, in fact, retreating from the position that such an ambitious program is an unconstitutional expansion of the powers of Congress and the executive branch, he would hardly be the first execute an about face on the subject.
HuffingtonPost.com columnist Andrew Reinbach expressed concern September 12 that the Tea Party is propagating the ideas of The John Birch Society. In an article entitled "The John Birch Society's Reality," Reinbach noted that the JBS is "a group Barry Goldwater and William F. Buckley Jr once thought too extreme, but which has since become the intellectual seed bank of the right." Reinbach warned his fellow leftists that "if you really want to understand why so many Republicans are the way they are these days, an outline of JBS beliefs is a good place to start." The columnist from the highly trafficked left-wing website then goes into a long excerpt from one of JBS Founder Robert Welch's writings in 1966: "The one great job left for the Communists is the subjugation of the people of the United States," wrote Welch. "So their exhaustive strategy for achieving their final goal includes the following methods."
Some people are hoping that President Obama's plan will get the economy out of the doldrums and start providing jobs for the unemployed. Others are hoping that the Republicans' plan will do the trick. Those who are truly optimistic hope that Democrats and Republicans will both put aside their partisanship and do what is best for the country. Almost nobody seems to be hoping that the government will leave the economy alone to recover on its own. Indeed, almost nobody seems at all interested in looking at the hard facts about what happens when the government leaves the economy alone, compared to what happens when politicians intervene. The grand myth that has been taught to whole generations is that the government is "forced" to intervene in the economy when there is a downturn that leaves millions of people suffering. The classic example is the Great Depression of the 1930s.
Votes in a republic must be counted honorably or elections are worse than useless. Political machine after the Civil War learned the tools for stealing votes en masse. Immigrants not conversant in English, and leaning upon the largess of local governments for a wide range of help, could be instructed how to vote and be trusted to do so. The rise of voter blocs, in which certain groups of Americans could be reliably expected to vote for certain political parties, made the legitimate function of elections — creating uncertainty about who will hold office — weak. Moreover, when elections are bought or are stolen, then the “winner” can claim not only to hold the political offices that his gang won in the election, but also can don the mantle of that vague and potentially dangerous title “champion of the people” (or something like that). And the artificial creation of a democracy in our nation, rather than a republic, has inured us to the myth that the majority can determine right and wrong.