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Articles Archive for January 2009

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[28 Jan 2009 | 2 Comments | ]

For the fashion conscious, the latest wardrobe colors to gain momentary
popularity are oftentimes referred to as being “the new black.” In light of the
absurd new regulations proposed by the Obama administration to curry favor
with  the hardcore environmental leftists, I am prepared to announce that “green
is  the new red.”
Under the guise of healing the planet, our new chief executive has pledged
to limit greenhouse gas emissions and substitute new alternative energy sources
for carbon fuels.  President Barack H. Obama has condemned the use of coal
and opposes increased exploration and drilling for American oil. …

From Blogs, Headline »

[28 Jan 2009 | No Comment | ]

From Anne Leary, The Backyard Conservative
Spending Plan Mocked by the Onion and others
The Democrats have a slew of legal problems and not just Gov. Blagojevich
New Yorkers are fed up with high taxes
Pres. Obama’s Bi-Partisan Leadership is Questioned
Reasons to Whack Obama’s Spending Plans
Even the Sun-Times has it’s concerns

Headline, Our Columns, Video »

[27 Jan 2009 | No Comment | ]

One of the main arguments defending the “stimulus” bill now working its ways through the bowels of government is that US consumers need help to keep spending.  Without it, say many, consumption will continue to decline rapidly, extending the recession deep into 2009 and possibly beyond.
I highly doubt this type of stimulus will really stimulate.  Moreover, the decline in energy prices since last summer has lifted workers’ total cash earnings (adjusted for inflation) even as employment has fallen.
I believe that without Keynesian stimulus (spending), the economy would recover from the …

Featured, Headline, Local Media, Our Columns »

[27 Jan 2009 | No Comment | ]

The Financial Times had a lead editorial Saturday claiming:
“Mr Obama has avoided partisan recrimination and sought the co-operation of Republicans. For the sake of the country, Republicans must co-operate more willingly and accept his invitation to help govern.”
The AP, with more of the same campaign rhetoric,
“Barack Obama opened his presidency by breaking sharply from George W. Bush’s unpopular administration, but he mostly avoided divisive partisan and ideological stands. He focused instead on fixing the economy, repairing a battered world image and cleaning up government.”
The Tribune (via the LA Times) continued …

Featured »

[27 Jan 2009 | No Comment | ]

Peoria Based Caterpillar CEO James Owens on Peter Visclosky‘s (D-IN) proposed tariffs:
Isolationist economic policy would be disastrous, he said. “We’ve got to keep our markets open if we expect other countries to keep their markets open,” he said.
(See the accompanying video for more.)
Asia, Europe and the United States should participate in each other’s stimulus packages, said Owens.
“This is exactly what happened in the 1930s,” he said. “Politicians got focused on protecting jobs at home and turned inward instead of creating global, healthy economy that everyone can flourish in.”
Stabilizing the financial …

Featured, Headline »

[27 Jan 2009 | 4 Comments | ]

On his way out of office George Bush and the Republican echo chamber spent weeks telling us how wonderful he really was, repeating constantly the canard that he kept us safe from terrorist attacks on American soil for the seven and a half years since 9/11/01.
The corollary was that he kept the terrorists so busy in Iraq they didn’t have time to hit the USA.
The media and even most critics let the claim go unchallenged, never offering an alternative interpretation.
Minimally, it is open to question.
Consider: the first Islamist attack on …

Chicago, Headline »

[26 Jan 2009 | One Comment | ]

General Electric Co. and Caterpillar Inc. are among U.S. exporters that oppose “Buy American” provisions in the $825 billion stimulus legislation, saying it might spark a trade war.
The companies say that proposals pushed by companies such as U.S. Steel Corp. and Nucor Corp. to limit spending in the stimulus plan to American-made iron and steel risk igniting retaliation from other countries.
“You would be creating an ample basis for countries to close their markets to U.S. products,” said Karan Bhatia, GE’s senior counsel for international law in Washington, in an interview. …

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[26 Jan 2009 | No Comment | ]

Attorney General Drew Edmondson said Thursday he has decided not to ask the U.S. Supreme Court to overturn a federal appeals court that struck down an Oklahoma law barring nonresidents from circulating initiative petitions.
Edmondson also said his office dismissed criminal charges against three people accused of violating Oklahoma’s out-of-state petitioner ban. All three were scheduled for a preliminary hearing in Oklahoma County on Feb. 6 but Edmondson said he was awaiting the outcome of the appeals process before deciding whether to proceed.
“The statute under which these defendants were charged has …

From Blogs, Headline »

[26 Jan 2009 | No Comment | ]

President Barack Obama’s inaugural declaration that “The question we ask today is not whether our government is too big or too small, but whether it works” is further evidence that the wisdom and values that animated America’s founding generation are lost – evidence that too few Americans today possess a mature skepticism of power and a love of liberty, and that too many Americans today are subject to adolescent crushes on charismatic charmers.

If Thomas Jefferson thought as Mr. Obama does, he would have written in 1776: “We hold this …

Featured, Headline, Local Media »

[26 Jan 2009 | 3 Comments | ]

The Illinois state-funded pension system is the most underfunded in the nation. By midsummer 2008, the five state retirement plans showed a $44 billion unfunded liability. The plans, on average, were at only about 50 percent of the required funding level. And that was before the stock market crash, which likely decimated the stock portion of the investment by another third.
You’d think the Illinois General Assembly, which is responsible for appropriations to fund these plans, would have paid attention to the fact that their plan is the most underfunded of …