Archive for the ‘carbon’ Category

Never waste a good crisis, Clinton says

March 7, 2009

Secretary of State Hillary Clinton told an audience Friday “never waste a good crisis,” and highlighted the opportunity of rebuilding economies in a greener, less energy-intensive way.

Highlighting Europe’s unease the day after Russia warned that gas flows via Ukraine might be halted, she also condemned the use of energy as a political lever.

By Pete Harrison
Reuters

Clinton told young Europeans at the European Parliament that global economic turmoil provided a fresh opening. “Never waste a good crisis … Don’t waste it when it can have a very positive impact on climate change and energy security,” she said.

Europe sees the United States as a crucial ally in global climate talks in Copenhagen in December, after President Barack Obama signaled a new urgency in tackling climate change, in stark contrast to his predecessor George W. Bush.

Read the rest:
http://in.reuters.com/article/environm
entNews/idINTRE5251VN20090306

Related:
 Hillary: One-Time Health Care Failure Now American’s Chief Diplomat, Fouls Up First Time Out

Incoming White House Chief of Staff Rahm Emanuel gestures prior ... 
Incoming White House Chief of Staff Rahm Emanuel gestures prior to the inauguration ceremony of Barack Obama as the 44th President of the United States, in Washington, January 20, 2009. Emanuel famously said, “Never let a good crisis go to waste.”(Jim Young – UNITED STATES/Reuters)

Obama’s Radicalism Is Killing the Stock Market

March 6, 2009

It’s hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president’s policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.

By Michael Boskin
The Wall Street Journal
.
The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents — John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance — President Obama is returning to Jimmy Carter’s higher taxes and Mr. Clinton’s draconian defense drawdown.

[Commentary]
Martin Kozlowski

Mr. Obama’s $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society. The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents — from George Washington to George W. Bush — combined. It reduces defense spending to a level not sustained since the dangerous days before World War II, while increasing nondefense spending (relative to GDP) to the highest level in U.S. history. And it would raise taxes to historically high levels (again, relative to GDP). And all of this before addressing the impending explosion in Social Security and Medicare costs.

To be fair, specific parts of the president’s budget are admirable and deserve support: increased means-testing in agriculture and medical payments; permanent indexing of the alternative minimum tax and other tax reductions; recognizing the need for further financial rescue and likely losses thereon; and bringing spending into the budget that was previously in supplemental appropriations, such as funding for the wars in Iraq and Afghanistan.

The specific problems, however, far outweigh the positives. First are the quite optimistic forecasts, despite the higher taxes and government micromanagement that will harm the economy. The budget projects a much shallower recession and stronger recovery than private forecasters or the nonpartisan Congressional Budget Office are projecting. It implies a vast amount of additional spending and higher taxes, above and beyond even these record levels. For example, it calls for a down payment on universal health care, with the additional “resources” needed “TBD” (to be determined).

Mr. Obama has bravely said he will deal with the projected deficits in Medicare and Social Security. While reform of these programs is vital, the president has shown little interest in reining in the growth of real spending per beneficiary, and he has rejected increasing the retirement age. Instead, he’s proposed additional taxes on earnings above the current payroll tax cap of $106,800 — a bad policy that would raise marginal tax rates still further and barely dent the long-run deficit.

Increasing the top tax rates on earnings to 39.6% and on capital gains and dividends to 20% will reduce incentives for our most productive citizens and small businesses to work, save and invest — with effective rates higher still because of restrictions on itemized deductions and raising the Social Security cap. As every economics student learns, high marginal rates distort economic decisions, the damage from which rises with the square of the rates (doubling the rates quadruples the harm). The president claims he is only hitting 2% of the population, but many more will at some point be in these brackets.

As for energy policy, the president’s cap-and-trade plan for CO2 would ensnare a vast network of covered sources, opening up countless opportunities for political manipulation, bureaucracy, or worse. It would likely exacerbate volatility in energy prices, as permit prices soar in booms and collapse in busts. The European emissions trading system has been a dismal failure. A direct, transparent carbon tax would be far better.

Read the rest:
http://online.wsj.com/article
/SB123629969453946717.html

 

Related:
NYT: After March 6 Economic News, “2009 is Probably a Lost Cause”

Obama’s First Weeks: Economic Disaster, Socialist Agenda, Congressional Pork, Limbaugh Attacked, and “We Won”

Debt:
http://deadenders.wordpress.com/2009/0
3/07/cbs-show-us-how-its-done/


http://nobamablog.wordpress.com/2009/
03/06/deception-at-core-of-obama-plans/

Obama’s First Weeks: Economic Disaster, Socialist Agenda, Congressional Pork, Limbaugh Attacked, and “We Won”

March 6, 2009

It seems such a long time ago that Barack Obama predicted an economic disaster.  He even used the word “catastrophe.”

In record time, it seems, President Obama has made the economy worse.  At least we can say for sure, he made it no better.

Dow’s Decline Is Fastest for a New President in Nearly a Century

Unemployment Highest Since 1983; Business Leaders Have No Confidence in Obama Economic Plan, Team

NYT: After March 6 Economic News, “2009 is Probably a Lost Cause”

Obama’s Economic Strategy Akin To LBJ’s Vietnam Fiasco: “Pour In More”

And while grappling with an economic nightmare, the President of the United States insists this is the right time, the perfect time, the exact time to fund health care reform, education reform, a total re-engineering of the energy system in the U.S. and other social changes.

Obama Can’t Revive Economy With Socialism

Obama’s Radicalism Is Killing the Stock Market

The stimulus bill was a kind of Obama Blitzkrieg through Congress with a bill written by Nancy pelosi’s crowd in the house.

This effort was so successful that the gameplan is being used again to bring us health care reform.

And there are many other signs of trouble.

GM may fail despite billions in bailout.  Ditto AIG.

And just for fun the President of the United States and all his top men engaged in a public battle with a radio talk show host.

 Obama Calls Limbaugh Top Party Leader; Voters Don’t Buy It

Have we lost our way at the White House?  Where’s the hope?

Most medical students and doctors know the phrase primum non nocere.

First do no harm.

[Commentary]
Martin Kozlowski, WSJ

******

 

All this fun in the first few weeks of the Obama Administration and we still haven’t seen any trouble from Hamas, Hezbollah, terrorists, China, Russia, Israel, Iran, etc., etc……

Hillary: One-Time Health Care Failure Now American’s Chief Diplomat, Fouls Up First Time Out

 Russia Sees Obama, U.S., Others As “Weak,” “Naive”

Related:
http://michellemalkin.com/2009/0
3/06/jeri-thompson-roasts-the-rus
h-deranged/

Related:
 Households, Businesses Have Stopped Spending; Now It’s Congressional Responsibility Time

 American Workers, Businesses Cut Back; Obama Launches Spending Spree

Obama’s Brazen Deception: Why The Stock Market Won’t Recover Soon

http://nobamablog.wordpress.com/2009
/03/06/deception-at-core-of-obama-plans/

Incoming White House Chief of Staff Rahm Emanuel gestures prior ... 
Incoming White House Chief of Staff Rahm Emanuel gestures prior to the inauguration ceremony of Barack Obama as the 44th President of the United States, in Washington, January 20, 2009. Emanuel famously said, “Never let a good crisis go to waste.”(Jim Young – UNITED STATES/Reuters)

http://nobamablog.wordpress.com/2009/
03/06/deception-at-core-of-obama-plans/