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Tag Archives: Deficit


Federal Spending is the Problem: Defense is Not!

defense spendingby George Landrith

With a long history of federal overspending and the recent explosion of more federal debt, it is obvious that the federal budget must be cut back to a reasonable size. We need an intervention. But the Budget Control Act — which would force an “automatic sequester” of $500 billion in across-the-board defense spending cuts over the next decade, in addition to the $487 billion in defense cuts already scheduled — is not a good solution to our spending crisis.  Continue reading


The Real Fiscal Cliff

“After the phony cliff, we face the terrifying one.”

by Conrad Black

Last week, Fareed Zakaria and Charles Krauthammer appeared in Toronto (where I live much of the time), and while I did not go to their main debate, I went to a tasting of it at a luncheon. There was, I regret to write, as a longstanding friend of both of them, a surreal aspect to the exchange. After the usual compliments one exchanges (as I know from my time on that circuit), they embarked on a dialogue of the deaf, and a mutual flight, joined at the wingtip like Jurassic pterodactyls, soaring above the mighty chasm of American fiscal problems below. The otherworldly discussion of whether the Republican leaders in Congress will reach an agreement with the president about the automatic expiration of the Bush tax cuts of a decade ago vastly overshadowed the issue of reinserting spontaneous growth into the U.S. economy and grappling with the deficit at last. Continue reading


Clinton Era Taxes and Clinton Era Spending

by George Landrith

With the budget and fiscal crisis facing the United States and difficult economic times surely ahead for the foreseeable future, President Barack Obama has vociferously argued that Republicans must agree to tax increases. He argues for what he terms are modest tax increases on the wealthiest Americans that are equal to the tax rates during President Bill Clinton’s time in office. Why is Obama only interested in Clinton era tax rates, but not Clinton era federal spending rates? Continue reading


Fiscal Crisis: Failing the Details, Math and Leadership Tests

fiscal cliffby George Landrith

President Barack Obama repeatedly chided Mitt Romney’s budget plan during the presidential campaign on at least two grounds: (1) it lacked detail, and (2) the math didn’t add up. Perhaps, we should use these two standards to see how Barack Obama’s plan stacks up. There is more than a little irony in Barack Obama criticizing others for not providing details or for their math not adding up. Obama has always been short on details and his math has almost never passed even the straight face test, much less actually adding up.

Nonetheless, let’s apply these two standards — (1) are there sufficient details? and (2) does the math add up? — to evaluate Barack Obama’s proposals for solving the so-called fiscal cliff. Continue reading


Ronald Reagan on Tax Cutting Legislation (The “whole controversy”)

“This whole controversy: Are you entitled to the fruits of your own labor or does government have some presumptive right to spend and spend and spend?” 

by Scott L. Vanatter

Ronald Reagan is well known for his multi-decade devotion America’s purpose and promise. By returning to these lofty ideas America would fulfill its destiny.

His July 27, 1981 speech was President Reagan’s main public effort to educate the nation on the benefits of a bipartisan bill to cut taxes and spending. He taught America, once again, how and why cutting taxes and spending (cutting the rate of growth of government spending) would make for a stronger economy — and help restore America’s latent greatness.

It was Reagan’s habit to speak on large themes. In this particular case he used a two-letter word to illustrate one of the largest of political themes. He stated that the people in electing him wanted to make a change from ‘by’ to ‘of.’ Succinctly put, “It doesn’t sound like much, but it sure can make a difference changing by government,’ ‘control by government’ to ‘control of government.’” Continue reading


Mandates, Taxes, Spending Cuts and Crazy Talk

by George Landrith

After a long, tough campaign, Barack Obama won reelection by a slim 51% to 49%. Now Obama is claiming a broad mandate to increasing taxes and demands that Congress yield to his view that there must be a higher tax burden for the wealthiest Americans.

Obama is correct that he made tax increases an issue during his reelection campaign. But so did the Congressmen who comprise the majority in the U.S. House of Representatives. GOP Congressmen won reelection opposing tax rate increases on any Americans. Continue reading


Fact-checking President Obama

by George Landrith

Let’s fact check President Barack Obama’s debate statements. He spent a lot of time since the first debate and during the second debate complaining that what Gov. Mitt Romney said wasn’t true. Yet, the facts do not support Obama’s claims. Here is the proof on Obama’s poor record on truthfulness during the second debate:

The attack in Libya — a terrorist attack? Or a spontaneous protest that got out of hand because of an offensive internet video?

On the issue of Libya, Obama said, that the day after the Sept. 11, 2012 attack on the American Consulate in Benghazi, “I stood in the Rose Garden and I told the American people and the world that we are going to find out exactly what happened. That this was an act of terror and I also said that we’re going to hunt down those who committed this crime.”

Romney challenged Obama’s characterization that he had identified the Benghazi attack as terrorism on day one. Obama doubled down. Just as Romney was about the snare Obama in his lie,  the the moderator erroneously sided with Obama and claimed that he had identified the attack as terrorism. After the debate, the moderator admitted that she was wrong and that Romney was correct. But let’s not rely on her retraction and correction, let’s go straight to the record. Continue reading


Romney won the second debate

by Dick Morris

By scoring big on the economy, gas prices, and Libya, Romney continued his victorious string of debate wins. He looked more presidential than Obama did and showed himself to be an articulate, capable, attractive, compassionate leader with sound ideas.

Obama came over as boorish and Biden-esque. He did not learn from his Vice President’s mistakes. Continue reading


The most divisive President: A presidency wasted

by Victor Davis HansonDivisive President Obama

The Obama narrative is that he inherited the worst mess in memory and has been stymied ever since by a partisan Congress — while everything from new ATM technology to the Japanese tsunami conspired against him. But how true are those claims?

Barack Obama entered office with an approval rating of over 70 percent. John McCain’s campaign had been anemic and almost at times seemed as if it was designed to lose nobly to the nation’s first African-American presidential nominee. Continue reading


Economy, Debates Reveal Obama, Biden Haven’t Got What It Takes

by Peter MoriciMorici

This election should be about the economy — the recovery is too slow and Americans are hurting. The performances of President Obama and Vice President Biden in the debates on the campaign trail tell us why. Both say endlessly that they inherited a huge mess, but Americans have seen challenges like these before — and with better leaders, they licked those more quickly.

When Mr. Obama took office, financial markets were in turmoil. Unemployment peaked at 10% in October 2009. Continue reading


Obama’s Weak Economy: Five Reasons

by Scott L. VanatterAn Incomplete

What kind of economy did Obama inherit? Brit Hume put it this way:

“A central premise of the Obama campaign is that he inherited an economy in free fall, pulled it back from the brink and set it on the right path. But consider this. The economy fell into recession more than a year before Mr. Obama took office. By the time he was inaugurated the worst of it was over, the economy was still shrinking, but the steepest decline had occurred in the final quarter of the year 2008. It shrank less in the first quarter of 2009 and by June of ‘09 it began to grow again marking the official end of the recession. Mind you, this occurred before almost any of the massive stimulus spending Mr. Obama has signed into law had taken affect. ‘Yes,’ you might say, but in terms of job losses the worst was still to come when Mr. Obama came in.’ But that’s not so either. More than half the 8.7 million jobs lost as a result of the recession had been lost by inauguration day.” 

 How weak is Obama’s economic recovery? Continue reading


Vice Presidential Debate Analysis

By George Landrith

Post Debate Analysis:  Biden was smug, arrogant, condescending, over-bearing and over-aggressive. I’ve never seen a debate where one person was so disrespectful and even contemptuous of his counterpart. He surpassed Al Gore’s famous boorish debate behavior. He is in danger of undercutting himself. That may play well for his base who were depressed after Obama’s almost comatose debate last week. But independents and women will find the rudeness and condescending smirking and laughing annoying. Even at the end when Ryan was thanking the moderator, the audience and Joe Biden for a good debate, Biden was smirking and mugging. That will come back to hurt him. And it shows the true political character of Joe Biden — a pretentious, smirking, condescending lightweight. Continue reading


Obama’s new winning issue – Big Bird’s endorsement

Obama still doesn’t get it. He’s been president for four years and paid little attention to economic recovery or jobs. Now that there is four weeks left in the election, he’s promising us that Big Bird will continue to get taxpayer subsidies. Really? Seriously? This is silly even for a high school student body election! But for a sitting president?


Big Bird can make it rain on his own

by Taylor Bigler

Big Bird is a billionaire. A Warren Buffett, Eric Schmidt, Steve Jobs billionaire, which is pretty impressive considering that he is not a real person but rather a giant, yellow bird (which is a kind of terrifying concept if you actually think about it for a second.)

Advocates for continued federal funding of the Public Broadcasting Service got their undies in a twist Wednesday night when GOP presidential candidate Mitt Romney said that he would cut funding to the beloved TV station to reduce the national deficit. Continue reading


Princeton Economist: Romney Tax Plan Mathematically Sound

by Tony Lee

Bill Clinton, President Barack Obama, and liberal think tanks have claimed Mitt Romney’s plan to cut tax rates across the board by 20 percent is bad arithmetic, but a Princeton economics professor, Harvey Rosen, examined Romney’s proposals in a paper and concluded Romney’s plan would work. The economy would have to grow by 3 percentage points more over the term of his plan than it would have without his plan. Continue reading


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