Tuesday, March 22, 2011

Steve Peters Commentary - #2744 - Steve Forbes: Reagan's Legacy and the Current Malaise - Wall Street Journal (2) Obama Administration is Following the 'Detroit Pattern' - Townhall (3) Rasmussen - Trust on Key Issues


Tuesday,  the Ronald Reagan Presidential Foundation, the Manhattan Institute and The Wall Street Journal will host a morning seminar concerning the economic legacy of Ronald Reagan. The get-together couldn't be timelier. Reagan came into the White House facing an economy as troubled as ours—one that had even higher unemployment, catastrophic interest rates (18% for mortgages) and a stock market that in real terms had fallen 60% from its mid-1960s levels. When he left office eight years later, the U.S. had become an economic miracle: 18 million new jobs had been created; Silicon Valley had blossomed, becoming a global symbol for innovation; and the stock market was experiencing a bull run that, despite dramatic ups and downs, didn't end until the turn of the 21st century, after the Dow had expanded 15-fold.  How did this happen? You could make the case that Reagan's economic miracle had its origins at a Washington, D.C., restaurant in 1974. That December night, 34-year-old University of Chicago professor, Art Laffer, scribbled a single—and now legendary—curve on a cocktail napkin to illustrate to a group of President Ford's advisers why a proposed plan to raise taxes would not increase government revenues.  Read more.........
Thomas Sowell: Obama Administration Following the 'Detroit Pattern" - Townhall - Random thoughts on the passing scene: They say that records are made to be broken. President George W. Bush set a record by adding $3.2 trillion to the national debt over the course of his eight years in office. But Barack Obama has already beaten that record with $4.4 trillion in just his first three years in office. People who thoughtlessly give money to panhandlers on the street seem not to realize that this is making installment payments on the degeneration of America. Don't mention "municipal golf courses" to me. It sends my blood pressure up through the roof. What earthly excuse is there for spending the taxpayers' money subsidizing a golf course? Politicians can't even invoke "the poor," as they do when trying to justify other government boondoggles. Read more........ What if all the creative minds of the world went on strike?" SP:Will Atlas shrug under the withering assault of the Obama Administration on those who produce the wealth in this country? From Atlas Shrugged, "Evil is impotent and has no power but that which we let it extort from us", and, "I saw that evil was impotent...and the only weapon of its triumph was the willingness of the good to serve it". Do you know about the fictional Twentieth Century Motor Company and how closely it resembles the Obama bailout of General Motors?  If you do, then you have read Ayn Rand's epic novel Atlas Shrugged. If not, and you want to know what is coming..... pick up the book. Obama in essence, arranged for a UAW bailout by turning over a large block of the company stock to his union friends, overturning 200 years of accepted contract law.(In total, the unions were the single largest contributor to the Democratic Party-$400,000,000 in the 2008 election cycle).




Rasmussen - Trust on Key Issues -  It’s been two months since Republicans regained control of the House of Representatives and they are now trusted more than Democrats on nine out of 10 important issues regularly tracked by Rasmussen Reports.  In early January, voters trusted the GOP on all ten issues. That was the last time Republicans held trust on every issue since late August 2010. Still, this shows a sharp contrast from two years ago when Democrats were trusted more than Republicans on most issues.  Read more........ SP: As a barometer, Republicans lead Democrats in the Generic Congressional Ballot 45% to 37%. It is time for the Republican leadership to spend some of their good will and cut government spending across the board, at least back to preObama 2008 levels. For good margin, throw in removal of all funding for ObamaCare, NPR, and Planned Parenthood(government sanctioned abortion on the taxpayers dime). If the Democrats want to SHUT THE GOVERNMENT DOWN to keep the free spending spigot wide open, let them explain why to the voters.

Survey of 1,000 Likely Voters - March 10-11, 14-15, 2010
 Issue
 Democrats
 Republicans
 Economy
 39%
 47%
 Health Care
 42%
 46%
 Education
 39%
 42%
 Iraq
 35%
 48%
 Immigration
 35%
 48%
 Social Security
 41%
 41%
 Afghanistan
 36%
 46%
 Government Ethics
 33%
 38%
 National Security
 34%
 53%
 Taxes
 37%
 48

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