Monday, October 8, 2012

Prosperity Economics: Building an Economy for All


A political flyer landed on my doorstep the other day that identified an Orange County Democratic candidate for Congress as a supporter of a plan to DO AWAY with tax deductions for existing 401(K)s and a plan to FORCE WORKERS & EMPLOYERS to contribute to a new government run 401(K) IN ADDITION TO Social Security.The flyer cited a source (*) so I decided to check it out.  Here’s what I found.

Prosperity Economics:
Building an Economy for All





By:
Jacob S. Hacker and Nate Loewentheil



·         Quick Overview
·         Executive Summary
·         Full Report

Prosperity Economics” by Jacob S. Hacker and Nate Loewentheil, is endorsed by Campaign for America’s Future, AFL-CIO, Center for Community Change, Economic Policy Institute, Leadership Conference on Civil and Human Rights, National Council of La Raza, SEIU and more.





Now … I don’t know about you, but whenever I see AFL-CIO, SEIU and NCLR backing something, red flags start going up for me.  In my humble opinion, when union leadership backs or endorses something, it’s not because of benevolent and magnanimous motivations.  To the contrary, it’s invariably because they see it as contributing to an increase in union membership [and member dues] and an improvement in the income and power of union leadership at the expense of non-members.

While the Hacker and Loewentheil report seems at first blush to be a logical and well thought out plan for resolving the nation’s economic woes, you’ve got to ask yourself how it is that it has only now, at this eleventh hour in the election process, been released.

As for the congressional candidate who backs yet another expansion of already “too big” government and another confiscatory grab at individual income under the guise of “social fairness for all”, I say take your socialist proclivities and stick ‘em where the sun doesn’t shine.  We already have enough problems stemming from like thinking incompetents such as our current president.

So much for my thoughts!  How about yours?  I rarely receive commentary and feedback on my blog postings so for all I know they are not even being read or just aren’t that thought provoking.  In this case, I am particularly interested in hearing your opinions of the Hacker and Loewentheil report.  Let me hear from you.

Sunday, October 7, 2012

Obama's Deficit Reduction Claims - More Lies!!



As political pundits delve into Obama's poor debate performance, not as much attention is being bestowed upon what he actually said Wednesday evening. The President repeated his thoroughly debunked deficit reduction claims, claims even his own budget plan proves to be false.

Hear what he said:
Listen to what he said at Debate Dissembling: Obama's Own Budget Proves His Deficit Reduction Claims Wrong”.  [Click & Scroll down to the video]

Accuracy: At one point in Wednesday night's debate President Obama boasted about his "balanced" plan to cut the projected 10-year deficit by $4 trillion. One problem: His own budget exposes this claim as flat-out false.

Read More At IBD:
http://news.investors.com/ibd-editorials/100412-628242-obama-massive-deficit-cutting-fib-.htm#ixzz28Z9Nxd7q
Interestingly, the link [http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets%20/budget.pdf], provided in the IBD article to Obama’s budget plan at has been taken down.  Gee … I wonder why?  No matter, I found it here. http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/budget.pdf

Review the President’s own budget document.  For those who don’t want to wade through pages of numbers, I’ve provided a highlighted page[206] from Obama’s own budget that clearly refutes his false claim about what he's doing for reduction of the deficit from the first 2012 presidential debate.

Those who want an unbiased review of his budget complete with graphical charts can be viewed at A Congressional Budget Office Analysis of the President’s 2013 Budget.

Now … I don’t know about you, but in my view a $1.98 trillion deficit reduction is more than a little short of the $4 trillion claim made by Obama.

It’s just one more proof that he will say anything he thinks will get him re-elected.  Just whose interest is he looking out for?  Certainly not American citizens.