Obama one year later: A legacy of lies and broken promises

by Hans Bader


It’s been a year since the president was elected, and he’s already piled up an impressive list of lies and broken promises. The broken promises include his pledge to enact a ‘net spending cut,’ his promise not to raise taxes on anyone making less than $250,000 a year, and his promise not to sign bills without first giving the public five days of notice. The Congressional Budget Office says that Obama’s proposed budgets will explode the national debt through massive spending increases, increasing the already large deficits left behind by the Bush administration from $4.4 trillion to $9.3 trillion...


Government statistics and lies

Campaign For Liberty
by US Rep. Ron Paul (R-TX)


There has been a lot of talk in Washington recently about senior citizens, mostly about how various healthcare reform models would help or hurt them. But there is another critical issue that has quietly devastated seniors financially over the last few decades. It concerns how the cost of living is calculated. How does the administration justify not giving a cost of living increase to Social Security recipients this year? According to the official Consumer Price Index calculation, life has gotten cheaper for the first time in decades...


Mortgage crisis shows that government regulation doesn’t work

Campaign For Liberty
by Glenn Jacobs


Headlines like this drive me nuts: Mortgage Crisis Shows Why Financial Regulation is Needed. Yes, regulation is needed. Market regulation, that is. At every turn, the government and its accomplices in the financial industry — the politically-connected players — have undermined the free market’s ability to self-regulate. But, of course, this is not the sort of regulation to which the author is referring. No, the market is to blame and our benevolent protectors in government must come to our aid through enlightened regulation...


The secret message of stimulus spending

by Veronique de Rugy


The idea behind the $787 billion stimulus bill is that government can create jobs by spending money. For now, let’s ignore fact, history, and economic theory and assume that government spending can actually create jobs. In that case, we should expect the government to invest relatively more money in the states that have the highest ´ment rates and less money in the states with lower unemployment rates. So let’s check the data...


Obama’s hidden fees

by Jacob Sullum


President Obama’s promise to raise taxes only on the wealthy was easy to make and easy to break. He broke it barely two weeks after taking office, and he will break it again if Congress passes the health care legislation he wants. But Obama has come up with a strategy to avoid the fate of George H.W. Bush: Although he will raise your taxes, he will never admit he is raising your taxes...


Beware the government’s handiwork

The Daily Reckoning
by Bill Bonner


In fact, there is no evidence that government can fix anything other than the problems it has caused itself. And then only in rare, accidental moments of lucidity.But that doesn’t stop people from hallucinating. They think Obama can fix the auto industry, by paying people to buy a new car. And they think he can fix the housing industry too — by extending the new buyer tax credit. It doesn’t occur to them that the problems in the housing industry are almost exclusively the fault of the federal government in the first place. The feds subsidized mortgages, encouraged mortgage lending to people who should have been renting, and lowered interest rates. These fixes created a bubble in the housing sector. No bubble expands forever. Eventually, they all blow up … which is what happened...


Informant: Thomas L. Knapp



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