After being berated by an angry tax-payer, Congressman Paul Kanjorski (D-PA) explains how the US and World Economies would have collapsed without fast action from Capitol Hill.
For some reason, I’m not convinced.
Apparently, there’s not much difference between the way in which a democratic republic (the United States) and an oligarchy (Russia) handle “economic crisis”. According to an article in The Moscow Times:
Former Soviet leader Mikhail Gorbachev accused the government on Friday of bailing out billionaires at taxpayers’ expense in a letter co-signed by four businessmen and economists.
Gorbachev has until now been supportive of the Kremlin, and by speaking out he has joined a small but growing chorus of influential Russians who say the government’s tight control of the economy and politics is making the slowdown worse.
“The Russian authorities have turned their back on structural reform and instead satisfied themselves with inventing a mythical model of an ‘energy superpower,’” said an open letter whose signatories included Gorbachev.
This video would be much funnier if it wasn’t fairly accurate. But this satirical argument addresses a very real issue in DC. There’s no discussion on whether money should be taxed, borrowed and spent, just how it will be wasted by our irresponsible, ineffecient government.
Since the middle of the 20th Century, when the Federal Reserve started compiling this measurement of non-borrowed bank deposit reserves there has been little short term deviation from its normal levels. Long Story short - Bank reserves, other than those achieved through loans (usually FED funds market, or discount window) have evaporated.
This “commercial” by PBS’s Nightly Business Report would be far more amusing if wasn’t so close to reality.
In case you can’t read the fine print at the end-
This offer depends on the willingness of the Chinese government to continue buying U.S. government debt. Terms and conditions depend on the whim of Congress and may be changed without notice. U.S. Taxpayers may not apply.
The first of six videos, John Stossel does an excellent job of explaining why government interference and central planning does more harm than good.
“Most of life works best, when you are in charge. Maybe the government should do… nothing.” John Stossel
A fairly good and simple explanation of what the Federal Reserve is and the part it played in the current economic crisis and bailout.
With all the excitement over the comeback of the TV show, Arrested Development, the trailer for which was just recently released, the House Republican Conference has come up with a humorous parody of the show featuring a “dysfunctional Democratic majority.”
The video features President Barack Obama, ex-House Speaker Nancy Pelosi (D-CA), and Senate Majority Leader Harry Reid (D-NV), all of whom pushed for passage of ObamaCare, and notes that the law is causing insurance premiums to rise and causing employers headaches. It also highlights the doubts about ObamaCare now being expressed by members of their own party:
Vice President Joe Biden has telegraphed his plan to make another push for new gun control laws and Sen. Joe Manchin (D-WV) is still pushing to gain support for his completely pointless background check proposal. But the public has other priorities. According to a recent Gallup poll, 86% of Americans rank job creation and the economy as their top priorities:
A new Gallup poll released Wednesday finds 86 percent of voters saying Congress should make its top focus job creation, with 86 percent saying Congress should prioritize work on improving the economy.
Those two issues are the top concerns for voters, with gun violence and an overhaul of the nation’s immigration reform laws at the bottom of the list of 12 priorities.
Only 55 percent of those surveyed said reducing gun violence should be a top priority, and a similar 50 percent said that Congress should focus on immigration reform.
While they may not exactly be flocking to Republicans, young voters, perhaps better known as “millennials,” are beginning to express signs of dissatisfaction with President Barack Obama and the Democratic Party.
In a column last week, Charlie Cook, one of the best political analysts in the business, noted the results of a recent survey of these voters which shows significant disapproval ratings for President Obama on hot-button issues and a healthy skepticism of government:
President Obama carried the 18-to-29-year-old voting bloc by 34 points in 2008 and by 23 points last year. But a new national survey of millennial voters conducted by Harvard’s Institute of Politics suggests this emerging generation might not be as locked into the Democratic camp as conventional wisdom suggests, and that young voters exhibit some of the same stark partisan divides as older Americans.