Obama Wins (shocker) but where does he go from here?

Its been a while for me putting pen to paper, in fact it will be seven months & days days from now between posts and a lot has changed since. Nothing has changed in the grand scheme of things thou, not with having re-elected President Obama. Had it been Mitt Romney would it have been much different? I don't think so, but it couldn't have gotten much worse either. For full disclosure I'm not an anti-Obama guy. I think hes grossly under-qualified for the position and has gotten in way over his head. With that said, as i have stated many times on this blog, i think too much disinformation has been put out in efforts to soil the President and many of them are gross exaggerations - like this obsession with him raising taxes & running up the debt at a record pace.

Plain and simple, Obama has not raised taxes across the board like most think he has, in fact hes been a tax cutter (if you dont count the tax on tattoos parlors and tanning bed companies). Now with that now being said, that will dramatically change over the next few years as the Bush Tax cuts are set to expire and he has stated taxes will go up for the wealthy. Then factor in Patient Protection and Affordable Care Act (Obama Care) and you are now talking about sweeping tax hikes, but to this point the narrative of him being a greedy socialist tax whore has been blatantly false.

The Debt? Hes run up the credit card at an alarming rate, but not much more than his predecessor George W Bush did in his eight years before Obama's election. When President Bush took office the National Debt stood at 5.7 Trillion, when he left it was 10.6. So when Obama took office he entered with the 10.6 Trillion, as of this morning it stands at 16.2 (bear in mind that 3/4 of Obama's first year of office was under a GWB budget). So nominally, Obama will easily be the biggest debtor in our nations history but he will will probably "only" double the debt, just as his predecessor did before him.

So, where does that leave us? I think we are in for another recession. The President will have the veto pen and i think if everything is left in place, economically its going to be a long and harsh recovery of virtually no growth. Jobs will not be plentiful and incomes will continue to be slashed through a combination of: lack of work, inflation and debt at every level, public and privately. If his broaden agenda is brought into focus and realized things will be worse. Cataclysmic economic meltdown filled with bread lines and riots in the streets? No. But stagflation circa mid 1970's? Yes.

Hopefully, the administration understands the situation we are in and does its best to curb the rising tides that are on the horizon. If not, Obama's legacy will be nothing short of a an economic dead zone. A presidency that inherited an economic crisis that was undoubtedly dire but after a stabilization, this was a regime that failed to turn the momentum around and instead kicked out its arms every-time it tried to get up off the floor.  An 8 year window of high unemployment, economic decline via the continued assault on the dollar through currency manipulation and reckless spending. "Hope" and "Change" were the buzz words of '08 and they were empty words based on the results of the last four years. Lets hope for some change in the next four. 

Newt Gingrich In 2009: Hey, That Individual Mandate Is A Great Idea!

BY Doug Mataconis   ·   Monday, January 30, 2012   ·   9 Comments

Newt Gingrich spent much of yesterday making his case against Mitt Romney on the grounds that Romney’s history with the Massachusetts health care reform plan would make it impossible for him to draw real distinctions between himself and President Obama on the issue of health care. As it turns out, though, Romney isn’t the only one who has that problem. Gingrich’s own support for an individual mandate during the Clinton years and even a mere year before Barack Obama was elected have already been noted. Now, though, we’ve got Gingrich on the record supporting the idea of an individual health care insurance mandate in 2009 just as Congress was beginning to debate what would eventually become the Affordable Care Care:

The real foundation, the most important part of this, is individual rights, responsibilities, and expectations of behavior. … We believe that there should be must-carry, that everybody should have health insurance, or if you’re an absolute libertarian, we would allow you to post a bond, but we would not allow people to be “free riders” failing to insure themselves and then showing up in the emergency room with no means of payment. If you have must carry, then the insurance companies have told us that we can have must-issue, and you will therefore have a system in which you don’t have to worry about cherry-picking and maneuvering. … This is the kind of general model we will be advocating.

The quoted section begins at about the 28 second mark, but the entire audio clip is relevant. At the time, Gingrich was speaking on behalf of one of his business ventures, The Center For Health Transformation, an organization that received significant amounts of money from the health care industry, including many large pharmaceutical companies. At the time, it wasn’t really shocking for Gingrich to say this because it was entirely consistent with what he’d been saying since the days of the long, hard debate over HillaryCare in 1994. It wasn’t until the right started turning on ObamaCare, as it came to be called, that Gingrich changed his position. Now, Gingrich says he was wrong for all those years. however as Morgen at Verum Serum notes, the audio clip is fairly damning when it comes to the case that Gingrich himself tries to make against Romney:

Well, here you have it: not only has Gingrich been a long-standing proponent of a federal health insurance mandate, he clearly and unequivocally called for it as part of the White House health reform initiative in May 2009. Mission accomplished then.
There is something else worth noting in this clip. Not only did Gingrich make the “conservative” argument for the mandate in dealing with the free rider problem, he also advanced a favorite argument of the left. Which is that the only way insurers could be required to offer coverage to everyone regardless of their health status (“must issue”), was to require everyone to carry insurance. This was ultimately the argument which convinced none other than Barack Obama, who remember, opposed an individual mandate during the Democrat primary campaign in 2008.
Romney is arguably even more compromised on ObamaCare than Gingrich, but it’s a much closer call in my opinion than some seem to believe. Call me an Alinskyite, but it seemed like Republican voters should probably know about this before the general election.

I bet they will after this starts showing up in SuperPAC ads in the near future.

Lesser of two evils come November? I cant see it.

 

Is there a difference between Romney and Obama? I have been critical of both Mr Romney and President Obama for various reasons but both being so different in terms of background, surly they cant be that similar, right? When the subject comes up of differentiating between the two I find myself scratching my head. The same head scratching can be said for those folks who ask me my support for either two, and when I reveal my support of Ron Paul regardless if he’s third party or not, it’s often met with the same rebuttal: “it’s a waste of a vote, its better to pick the lesser of two evils”. However, I just can’t seem to grasp the difference between the two men as far as policy is concerned.  

  

Sure, Romney has the business experience, that is unquestionable a difference and he has balanced the budget as Governor in Massachusetts. Both of those are very big props for Romney in my book… but other than that, I looked and I can’t find a difference between the eventual nominee for the Republicans (Mittens) and the incumbent, President Obama (at least not in the pivotal positions).

- Obama has maintained the foreign policy of an empire, just as Romney would do (although Romney said he would actually increase spending on defense) not to mention he chastised the President for pulling out of Iraq. No savings there.    

- Obama has continued to support even more of an assault on our personal liberty’s extending the Patriot Act and signing NDAA, wouldn’t you know it - Romney supports both. Liberty trampled on again.

- Obama passed Universal Healthcare as did Romney. Romney even is proud of his healthcare bill, (‘I’m very proud of my health-care plan and think it should be a model for other states to adopt’) or at least he was before he was against it again.

What do we have left? Taxes. Yes, taxes, death and Mittens oh boy! This is the same guy who didn’t release his taxes because he didn’t wantto show he paid at or under the 15 percentile reserved for Capital gains (between 13.9-15%) on over 40 Million dollars of income. That would show he is using loopholes (although legal) just like many of our corporations do.

Romney said recently that Obama passed 19 tax increases under his terms as POTUS. Most people on the right would believe that to be true, he is said to be the most polarizing president in our history isn’t he? Although the validity to those tax hikes in question has been shaky and even a few of the 19 suspected raises have been actually proved false, Mitt continues his assault. For the record, the Obama tax increases were minimal in nominal terms considering (the large deficit) and directed at very specific small targets; not wide wielding swaths of people and demographics as Romney would have you believe.

The truth of the matter is Obama has cut taxes too. He did so in his 700+ Billion dollar stimulus (American Recovery and Reinvestment Act) he then cut taxes in the ‘December 2010 tax deal’ that extended the Bush tax cuts. Those tax cuts were worth $654 Billion and if you factor in the 250+ Billion from the ARRA cuts in his 2009 Stimulus act, we are talking 900 Billion in Tax cuts through his administration. I think its safe to say he has cut more taxes than he has increased taxes by a large sum.

Look at the revenue or receipts our government is pulling in. If we were seeing tax increases, wouldn’t we also being seeing soaring revenue? We aren’t. We are in a massive economic quagmire and tax cuts will not get us out of it. And if we continue to cut taxes and keep the budget as is or increase it, we will only cause even more damage down the road. And that seems like the message from Newt, Obama or Mitt.  

While I agree with the Republican field running for the oval office about the over-regulation that we are seeing under this administration; it’s not what ails us either. What we have is a political atmosphere where nobody wants to make the touch decision and cut major aspects off our budget or raise taxes to pay for the bills we have. Obama or Romney will never do it; they lack the thick skin and willingness to lead by example despite the consequences. responsible debt is one thing, what these kooks are proposing is simply not feasible long term. 

Romney has no plan to cut government just spend an equal amount or more and lower taxes for the richest Americans. Obama seems to have no plan at all and while he lowered taxes he increased regulation and didn't do anything to make cuts. Gingrich? He thinks we can save 500 Billion annually on modernization, he’s also the same guy who said Fannie and Freddie hired him as a historian... not a lobbyist. He won’t be the nominee but it further drives home the point. The 900 lb gorilla in the room remains Keynesian economics. Until we face the reality of the magnitude that beast has in terms of influence and destruction we will be here every four years with the same logical outcome: vote for a Paul (Ron or Rand).