Goolsbee vs. Holtz-Eakin

Andrew Roth

The presidential economic advisers engaged in a debate.

Posted at 5:41 PM, July 23, 2008 | Trackback (0) | Print | | #

A Must See Movie

Andrew Roth

David Zucker, the director behind Airplane! and this fantastic political ad, has a new movie that targets Michael Moore and other liberals.

HT: Mary Katharine Ham

Posted at 5:14 PM, July 23, 2008 | Trackback (0) | Print | | #

$25,000 For An Autograph

Andrew Roth

All is forgiven, Bartman. Show up to the convention, sign your name, collect the money, and give it to the Cubs Care youth baseball program.

Posted at 5:00 PM, July 23, 2008 | Trackback (0) | Print | | #

Ironic Facts of the Day

Andrew Roth

The United State has the greatest free market economy in human history. But amid an energy crisis, a housing crisis, expiring tax cuts, and wasteful government spending, only 15% of Americans believe the country is on the right track.

On the other hand, China is a country that was decimated by communism in the 20th century where brutal government oppression lead to millions of deathes. However, over the last couple of decades, especially over the last several years, the country has increasingly accepted the free market and the wondrous benefits of capitalism. And 83% of the Chinese believe their country is on the right track.

Posted at 4:39 PM, July 23, 2008 | Trackback (0) | Print | | #

Harry Reid's Monkey Pork Bill

Andrew Roth

As I blogged about before, Senate Majority Leader Harry Reid and the Democrats are extremely frustrated with Tom Coburn. Since Coburn is blocking more than 80 of their big spending bills, they can't appease their special interest cronies. So Reid has decided to create a 398-page, lard-stuffed, omnibus bill composed of more than 30 of those blocked bills. Preliminary estimates suggest that it authorizes over $11 billion in new spending...without any spending offsets. And it would create at least 36 new government programs.

One of those blocked bills is the Captive Primate Safety Act, which spends $17 million preventing the interstate sale of monkeys.

According to Rob Bluey at RedState.com:

Coburn said the bills included in Reid's omnibus have virtually no requirements for accountability, making it impossible to measure their effectiveness. "If we send a billion dollars in one direction, how do we know we accomplish what we intended to do?" he asked. "They refuse to put metrics on to hold people accountable. … It's the hard job that we're paid to do to provide oversight and get rid of waste, fraud and abuse."

Amanda Carpenter at Townhall.com adds:

Reid said the GOP would have a choice to pass these bills “or continue to stand beside a colleague or two intent on blocking virtually everything.” Reid singled out Coburn again in a news conference last week by telling reporters, "For those of you who may not know this, you cannot negotiate with Coburn. It's just something that you learn over the years is a waste of time."

Reid is desperate to move pass the energy debate since it's a losing issue for Democrats, so he could try to put the Monkey Pork bill on the Senate calendar for consideration as early as next week.

Posted at 3:50 PM, July 23, 2008 | Trackback (0) | Print | | #

Who Pays Taxes?

Andrew Roth

From the good folks at NTU via Rep. John Campbell, here's who paid taxes in 2006, the most recent year the IRS has data on. As in previous years, the top 50% are essentially taxpayers while the bottom 50% are tax-receivers.

Posted at 3:43 PM, July 23, 2008 | Trackback (0) | Print | | #

Absurd Statement of the Day

Andrew Roth

When asked if California had a revenue problem or a spending problem, State Sen. Darrell Steinberg said it had a "revenue problem."

Jaw. Drop.

Posted at 3:33 PM, July 23, 2008 | Trackback (0) | Print | | #

Lou Dobbs Is At It Again

Andrew Roth

Yesterday, Lou Dobbs blamed the housing crisis on free market capitalism:

"And I love the idea that all these free traders, free marketeers now got to have the government to, to bail them out. If I hear one of these ignorant, hypocritical, sanctimonious free traders ever talk about free markets again, they should be pilloried. I mean they are absolutely - this is an administration of jerks and cowards and fools. I mean it's unbelievable."

Jeff Poor at NewsBusters has the details.

Posted at 3:08 PM, July 23, 2008 | Trackback (0) | Print | | #

60 Democrats in the Senate?

Andrew Roth

From Roll Call ($):

Democratic Senatorial Campaign Committee Chairman Charles Schumer (N.Y.) said for the first time this election cycle that Democrats could wake up on Nov. 5 with a filibuster-proof, 60-seat Senate majority.

If you look at the poll numbers for each race, it's hard not to reach the same conclusion.

Posted at 3:02 PM, July 23, 2008 | Trackback (0) | Print | | #

What Was the First Stock Market?

Andrew Roth

Answer.

Posted at 2:05 PM, July 23, 2008 | Trackback (0) | Print | | #

Emotional Battle Over Sales Tax Hike

Andrew Roth

Check out this video. Cook County Democrats defend their support for a sales tax hike, which is now the largest sales tax (10.25%) in the United States. Apparently, they aren't listening to the voters.

Posted at 1:43 PM, July 23, 2008 | Trackback (0) | Print | | #

Business 101 by Gary Busey

Andrew Roth

I have no idea what Busey is saying in this video, which is probably the point. Anything he says is funny. EBITDA = Abeadia? Check out the other Busey clips on YouTube, like this one. Hysterical.

Posted at 10:59 AM, July 23, 2008 | Trackback (0) | Print | | #

The Church of Holy Smokes

Andrew Roth

OpenMarkets.org: "To get around indoor smoking bans, Dutch smokers are joining “The Only and Universal Smokers Church of God.”

Posted at 10:33 AM, July 23, 2008 | Trackback (0) | Print | | #

Wednesday's Daily News

Andrew Roth

THE DAILY NEWS
The Fannie Mae Gang - Paul Gigot, Wall Street Journal
The Opposite of Progress - Pete du Pont, Wall Street Journal
Solving the Fannie/Freddie Problem - Rep. Hensarling & Rep. Ryan, Politico
White House Drops Veto Threat on Housing - Ian Swanson, The Hill
Our Government Problem-Solvers - Tom Sowell, National Review

In the U.S., Selectively Applied Capitalism - Steven Malanga, RCP
Fannie/Freddie Should Be Cut Down and Cut Loose - A. Reynolds, Cato
Bush Urges Congress to OK Colombia Trade Pact - Deb Riechmann, AP
Doha Deals With Agriculture - Rod Hunter, New York Sun
U.S. Needs a (Shale) Oil Change - IBD Editorial

Cubs 2, D'Backs 9 - Associated Press

Posted at 10:23 AM, July 23, 2008 | Trackback (0) | Print | | #

The Fannie Mae Gang

Andrew Roth

Our good friend, Paul Gigot of the Wall Street Journal, takes out two barrels and unloads on former Countrywide CEO Angelo Mozilo, former Fannie Mae CEO Franklin Raines, Rep. Barney Frank, Paul Krugman, and a whole host of others who shamelessly defended Fannie Mae and Freddie Mac while the two GSEs were going down the tubes. And which has now brought about this housing bailout scheme that will cost taxpayers at least $800 billion.

I hate to spoil the end, but it was written too justly to not share with you:

The abiding lesson here is what happens when you combine private profit with government power. You create political monsters that are protected both by journalists on the left and pseudo-capitalists on Wall Street, by liberal Democrats and country-club Republicans. Even now, after all of their dishonesty and failure, Fannie and Freddie could emerge from this taxpayer rescue more powerful than ever. Campaigning to spare taxpayers from that result would represent genuine "change," not that either presidential candidate seems interested.

Posted at 8:08 AM, July 23, 2008 | Trackback (0) | Print | | #

HOUSE Key Vote Alert - Highway Bailout Bill

Key Vote Alert

KEY VOTE ALERT
"NO" on the Highway Fund Bailout Bill (HR 6532)

The Club for Growth urges members of the House to vote "NO" on the highway fund bailout bill (H.R. 6532). Floor consideration is scheduled for Wednesday. This vote will be included in our annual Congressional Scorecard.

The Highway Trust Fund has lower-than-expected gas tax revenue, so the misguided intention of this bill is to take the unprecedented step of directly dipping into the general revenue fund for $8 billion to bail the trust fund out. This will be done without any spending offsets.

In 2005, Congress spent over $24 billion on pet projects when it passed that year's highway bill. Canceling low priority projects and using the money to fill in the shortfall is a far more fiscally responsible solution. This bailout bill should be vigorously defeated.

Our Congressional Scorecard for the 110th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to our members and to the public.

Posted at 5:02 PM, July 22, 2008 | Trackback (0) | Print | | #

Fact of the Day

Andrew Roth

From Forbes:

In 2007, [IRS] audits of people who earned more than $1 million increased 84%. And last October, the government launched a program to get foreign golfers, tennis players and musicians to pay taxes on their U.S. tournament winnings and music sales.

HT: Steve Bartin

Posted at 2:36 PM, July 22, 2008 | Trackback (0) | Print | | #

Hey Hey, Ho Ho...

Andrew Roth

...the Housing Slush Fund Has Got to Go!

Posted at 1:58 PM, July 22, 2008 | Trackback (0) | Print | | #

HOUSE Key Vote Alert - Housing Bill

Key Vote Alert

KEY VOTE ALERT
"NO" on the Housing Bill (H.R. 3221)

The Club for Growth urges members of the House to vote "NO" on the American Housing Rescue and Foreclosure Prevention Act of 2008 (H.R. 3221). Floor consideration is scheduled for Wednesday or Thursday. This vote will be included in our annual Congressional Scorecard.

While the details of the bill are not yet finalized, it's clear that it will bail out irresponsible borrowers, lenders, and investors. It will also turn state and local governments into landlords, provide an unprecedented FHA loan guarantee, and put taxpayers on the hook for billions of dollars by rescuing Fannie Mae and Freddie Mac.

This bill creates a moral hazard that could wreak havoc on the economy in the future. It doesn't punish bad behavior, and it expands the government's role in the private sector when the very opposite should occur. The real debate should be about how to truly privatize Freddie and Fannie and make them subject to the laws and regulations that other mortgage lenders follow.

Our Congressional Scorecard for the 110th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to our members and to the public.

Posted at 12:45 PM, July 22, 2008 | Trackback (0) | Print | | #

Tuesday's Daily News

Andrew Roth

THE DAILY NEWS
An Energy Sarbox - Wall Street Journal Editorial
EU Offers 60% Cut in Farm Tariffs - BBC News
Arrogant European Bureaucracy Run Amok - Dan Mitchell, Cato
Bankrupt 'Exploiters' - Thomas Sowell, Real Clear Politics
McCain's Straight Talk on D.C. Schools - Washington Examiner

Oil Bill Pits Wall Street vs. Airlines - Jessica Holzer, The Hill
GOP Senators Scramble for Life Boats - Martin Kady, The Politico
John McCain's Veepstakes - Jonah Goldberg, LA Times
Hotel Tax Loophole - New York Sun Editorial
Suffocating Free Trade - Philip Salter, Adam Smith Institute

Cubs 0, Arizona 2 - Associated Press

Posted at 10:28 AM, July 22, 2008 | Trackback (0) | Print | | #

His Name is on a Wall at St. Vincent’s Hospital

Andrew Roth

Here's a profile piece of Robert Morse, the man who plays Bert Cooper in the amazing AMC series, Mad Men. The second season starts this Sunday at 10pm EDT.

HT: Stu Clark

Posted at 9:04 AM, July 22, 2008 | Trackback (0) | Print | | #

The 'Coburn is Driving Us Crazy' Bill

Andrew Roth

Senator Tom Coburn, one of the few senators committed to protecting the taxpayer, currently has "holds" on dozens of authorization bills. This means that he is preventing them from getting approved by the Senate without any consideration or debate. He doesn't necessarily object to all of them, he just thinks that the "greatest deliberative body" in the world should at least have an open debate about the merits of the bills, and make them amendable if need be.

Well the old bulls of the Senate don't like this 'fiscal responsibility' mumbo-jumbo that Coburn is talking about. He's blocking their pet projects, by God! So Harry Reid and others have decided to take most, if not, all of the bills currently being blocked by Coburn and offer them as one bill. And let me tell ya, this is a big, ugly, nasty bill.

The "Coburn is Driving Us Crazy" Omnibus is 398 pages long. Preliminary estimates suggest that it includes 36 bills authorizing over $11 billion in new spending...without any spending offsets. The bill also authorizes at least 36 new government programs.

And Senate leaders, with bipartisan support, want to pass all of this into law without debate?

Some of the bills include the infamous Captive Primary Safety Act, which I blogged about before. The Senate version would spend $17 million to prevent the interstate sale of pet monkeys. Another bill would spend $12 million to construct a greenhouse facility in Suitland, Maryland. A very legitimate sounding proposal, the PROTECT Our Children Act authorizes $1.1 billion, but opponents to the bill say it only duplicates current programs.

Reid intended to introduce this bill this week, but Coburn is using every procedure in the Senate rule book to block it. But don't wait. Call your Senators at (202) 225-3121 and tell them to stand with Coburn and the taxpayers by opposing this ridiculous bill. More details to follow...

UPDATE: You can expect several Republicans to go against Coburn. Exhibit #1 is this Politico article. Excerpt:

Republican Senate leaders — terrified by the prospect of losing five or more seats in November — have freed their members to vote however they need to vote to get reelected, even if that means bucking the president or the party’s leadership.

On at least four votes over the past month — Medicare, housing, the GI Bill and the Farm Bill — Republican leaders haven’t even bothered whipping members to toe the party line or back President Bush’s veto threats. Instead, a GOP leadership aide says leaders have told vulnerable senators that it’s all right to “get well” with voters by siding with Democrats on anything but energy and national security.

It’s unusual for rank-and-file members to get a green light to blow off their party leaders. But these are unusual times for Republicans. They are genuinely worried they could get their clocks cleaned in November. The prevailing attitude: It is better to lose some big votes now than big races in November.

Posted at 8:22 AM, July 22, 2008 | Trackback (0) | Print | | #

Pat Toomy on Gas Prices

Andrew Roth

From Friday on CNN:

PART ONE

PART TWO

Posted at 8:16 AM, July 22, 2008 | Trackback (0) | Print | | #

Coburn on C-SPAN Right Now

Andrew Roth

Senator Tom Coburn is on the Senate floor talking about the Democrats' plan to consider the "Coburn Omnibus" bill. You can watch here.

Posted at 5:19 PM, July 21, 2008 | Trackback (0) | Print | | #

Dumb Warning Label

Andrew Roth

On a package of dry roasted peanuts: "Produced in a facility that processes peanuts and other nuts."

Posted at 12:32 PM, July 21, 2008 | Trackback (0) | Print | | #