JBS CEO Art Thompson's video news update for June 25 - July 1, 2012.

Many people may have voted for Barack Obama in 2008 because of his charisma. But anyone familiar with the disastrous track record of charismatic political leaders around the world in the 20th century should have run for the hills when they encountered a politician with charisma.

With the help of 14 writers and seven contributors and researchers, Glenn Beck has burst forth with another book that expresses his unique style: fulminating, ranting, exploding, rollicking, sardonic, eclectic, and intemperate. Beck and friends have written 11 best sellers and seven of them have reached the #1 position on the New York Times best seller list. Cowards will no doubt be number eight.

The President's speech on the economy in Cleveland last week, promoted as "important," was a bust, especially among his most ardent supporters.

 

 JBS CEO Art Thompson's video news update for June 18-24, 2012.

Right to Work — allowing every person to choose whether or not to join a union and pay dues — leads to greater personal wealth, freedom, and jobs for workers. Put simply, Right to Work works, while the union shop, which encourages productivity-killing work rules and a hate-the-boss work environment, leads to economic stagnation and financial misery.

“The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds.”

In response to depleted revenues and high labor costs, the head of the U.S. Postal Service (USPS) asserted Tuesday that the cash-strapped mail agency has become a little like Greece, and that congressional lawmakers must approve a restructuring plan if it has any chance of returning to profitability. “If we don’t do something about the costs of this organization, we are going to look … like Greece,” U.S. Postmaster General Patrick Donahoe charged. “People laugh when I say that, but it’s true.”

The debate incited by Mayor Bloomberg’s plan to outlaw supersized sodas in New York misses an important point. In the mayor’s words, “We’re not taking away anybody’s right to do things. We’re simply forcing you to understand that you have to make the conscious decision to go from one cup to another cup.” (Emphasis added.)

 On Tuesday the Treasury Department announced that in May the federal government received tax revenues of $180.7 billion, the second highest for the month of May in history. Unfortunately, the government spent $305.3 billion, leaving a deficit of $124.6 billion. So far this year, deficits are at $844.5 billion and are on track to exceed $1 trillion for the fiscal year, the fourth year in a row.

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