The nation’s long-term fiscal outlook hasn’t significantly improved following the recent agreement between Congress and the White House over tax and spending issues, according to a new analysis.
The “fiscal cliff” deal, combined with the debt-limit agreement of August 2011, only slightly delays the United States reaching debt-to-gross domestic product levels that would damage the economy and risk another fiscal crisis, according to a report from the Peter G. Peterson Foundation released on Tuesday.
The agreement “may have prevented the immediate threats that the fiscal cliff posed to our fragile economic recovery, but we haven’t remotely fixed the nation’s debt problem,” said Michael A. Peterson, president and COO of the Peterson Foundation.
“The primary goal of any sustainable fiscal policy is to stabilize the debt as a share of the economy and put it on a downward path, and yet our nation is still heading toward debt levels of 200 percent of GDP and beyond,” he said.
The report concludes that the recent round of deficit-reduction measures won’t make major improvements because they fail to address most of the major contributors to the debt and deficit, including rapidly rising healthcare costs.
[...]At a House Ways and Means Committee hearing last week, lawmakers and budget experts agreed that rising healthcare costs, such as Medicare, must be addressed this year as part of efforts to overhaul the tax code and entitlement programs.
“Until spending in those areas is reduced, tax revenues are increased, or policymakers implement a combination of both, the United States will continue to have a severe long-term debt problem,” the report said.
“Reforms should be implemented gradually, and fiscal improvements must be achieved before our debt level and interest payments are so high that sudden or more draconian reforms are required to avert a fiscal crisis.”
The latest deal that stopped income tax increases for those making $400,000 a year or less may have only improved the burgeoning debt situation by a year.
Scheduled spending cuts from the 2011 budget deal, combined with the fiscal cliff agreement, put the debt on track to reach 200 percent of GDP by 2040, five years later than was projected prior to the passage of the two deals.
The recent deficit-reduction measure gave the nation an additional year before hitting that 200 percent threshold, the report showed.
I saw an interesting interview featuring Captain Capitalism in the Washington Times. He thinks that the debt spiral is irreversible.
Excerpt:
DDG: What was your take on the “solution” we saw earlier this month to the so-called fiscal cliff crisis?
Clarey: Band-Aid put on a cut aorta.
DDG: My concern is that inflation is distorting all levels of American society. For example, as prices skyrocket from monetary dilation at the Fed, we have this effect where as Rose Wilder Lane says, everything becomes increasingly more expensive and government starts creating laws and fines just for the purpose of revenue generation. So the formation of a police state and this loss of freedoms is in large part a result of government wanting to get more and more revenues to finance outlays that are being dilated as a result of the inflation they themselves are creating. What’s your take on this?
Clarey: I don’t know if it would be at the police state yet where the federal government comes in and confiscates wealth, as much as it is something much more clandestine. The government likes inflation in that it increases asset prices. Thus when somebody sells an asset – land, stocks, bonds, et cetera – they have to pay a capital gains tax.
Forget whether there was an actual real rate of return for the investor, the government gets to tax the real capital gains and the inflationary capital gains. Inflation also erodes the value of the federal debt, forcing the costs on US treasury holders. However, unless things change, the government will be forced [to cope with] with a simplified problem: Does it inflate its way out of its debts or does it confiscate wealth to pay for it?
I can’t read Paul Krugman and Barack Obama’s minds – if any exist – but I believe they will opt to go the inflationary route to solve the country’s debt problems. If they went the wealth-confiscation route, that would mean nationalizing people’s IRAs, 401(k)s and brokerage accounts much like they did in Argentina and Bulgaria. I fear however, because of their political ideology they have no problems doing both.
I am expecting inflation to continue in the near term, followed by seizing retirement accounts if the Democrats take back the House in 2014. The amnesty of 12 million illegal immigrants should give them that. So, if you have a plan to escape this, you’d better execute it in the two years. The clock is ticking.
Here’s an excerpt from the EPA press release that exonerates fracking:
The U.S. Environmental Protection Agency announced today that it has completed its sampling of private drinking water wells in Dimock, Pa. Data previously supplied to the agency by residents, the Pennsylvania Department of Environmental Protection and Cabot Oil and Gas Exploration had indicated the potential for elevated levels of water contaminants in wells, and following requests by residents EPA took steps to sample water in the area to ensure there were not elevated levels of contaminants. Based on the outcome of that sampling, EPA has determined that there are not levels of contaminants present that would require additional action by the Agency.
[...]Overall during the sampling in Dimock, EPA found hazardous substances, specifically arsenic, barium or manganese, all of which are also naturally occurring substances, in well water at five homes at levels that could present a health concern. In all cases the residents have now or will have their own treatment systems that can reduce concentrations of those hazardous substances to acceptable levels at the tap. EPA has provided the residents with all of their sampling results and has no further plans to conduct additional drinking water sampling in Dimock.
Closely watched tests by the Environmental Protection Agency have found that the drinking water in Dimock, Pa., is safe to drink, despite concerns from some residents and environmentalists that nearby fracking had contaminated supplies.
For the past seven months, EPA sampled water at private wells serving 64 homes in the small northeastern Pennsylvania town, the primary setting of the anti-natural-gas documentary “Gasland.”
EPA found hazardous substances such as arsenic and manganese in water supplies at five of the homes in question, but said Wednesday that the residences have or will soon have treatment systems “that can reduce concentrations of those hazardous substances to acceptable levels at the tap.”
Agency officials also said EPA will conduct no further testing and will stop delivering fresh water to Dimock residents.
“The sampling and an evaluation of the particular circumstances at each home did not indicate levels of contaminants that would give EPA reason to take further action,” EPA Regional Administrator Shawn M. Garvin said in a statement. “Throughout EPA’s work in Dimock, the agency has used the best available scientific data to provide clarity to Dimock residents and address their concerns about the safety of their drinking water.”
[...]In its Wednesday announcement, EPA made clear that the pollutants it identified occur naturally in the area.
Remember the EPA is one of the most politicized, anti-business agencies in the government. If I were President, the first two agencies I would eliminate are the EPA and the federal Department of Education. And yet even the EPA could not find anything wrong with fracking. That means that there is nothing wrong with fracking.
Why do people think that secular leftists are guided by reason and science? It seems to me that they are always embracing fashionable nonsense that isn’t proven out by the experimental data. Let’s make our policy based on what the experimental evidence shows.
The Canadian government released details Tuesday of its plan to dramatically streamline reviews for big energy and mining projects, capping the timeline for federal reviews and ceding more regulatory oversight to the country’s provinces.
The Conservative government of Prime Minister Stephen Harper has said for months it would move to speed up the regulatory review of big energy, mining and infrastructure projects. It has expressed frustration at the sometimes-lengthy review timelines for big projects.
Mr. Harper’s government said in its annual budget announcement last month that it would cap federal reviews. Resources Minister Joe Oliver released details Tuesday, saying that federally-led hearings would be applied only to major initiatives that risk some environmental harm.
Further, the government said it was prepared to hand over more responsibility for the review to Canadian provinces, so long as their regulations meet or exceed federal standards. Canadian provinces already enjoy considerable regulatory oversight.
“It is counterproductive to have the federal and provincial governments completing separate reviews of the same project,” Oliver said in a speech in Toronto.
[...]The government had previewed in its budget last month that reviews for major projects would be limited to 24 months. Meanwhile, regular inter-provincial pipeline reviews, as conducted by the National Energy Board, would be limited to 18 months.
Oliver said Tuesday that Enbridge Inc.’s (ENB) proposed Northern Gateway pipeline – which envisions shipping oil from Alberta to Canada’s West Coast — would benefit from the quicker review. The line has been mired in stiff opposition from native groups in British Columbia, and the government has accused foreign-funded environmental groups of tying up the project in regulatory hearings. Government officials said the new rules would also limit who could participate as intervenors in the review process.
[...]In Toronto, Oliver said the current process is unworkable, with over 40 federal departments involved in reviews. He said he would pare that back to only three federal agencies: the Canadian Environmental Assessment Agency; the National Energy Board; and the Canadian Nuclear Safety Commission.
The Canadian process, as it stands, forces investors to go “through hoops and hurdles as far as the eye can see,” Oliver said. “We simply have to turn that around.”
Canadians don’t want to scare businesses away from Canada – they want the jobs to come to Canada. That’s the exact opposite of what Obama’s socialist “Environmental Protection Agency” does – they regulate energy development, in order to block it or slow it down.
And Canada lowered corporate taxes to 15% compared to our 35% – and their revenues held steady.
Canada: Corporate tax cuts, not stimulus spending
They cut their corporate tax rate, but then businesses saw the lower rate and just kept on expanding in order to make more money. As businesses grow, they pay more in taxes. So government revenues from taxes haven’t dropped at all, even with the lower corporate tax rates! More businesses moved in to Canada to capitalize on the lower tax rates, generating revenue for the government. More workers moved off of unemployment and welfare as demand for labor grew, and they started paying income taxes and sales taxes, generating even more revenue for the government. Do you know what makes consumers more confident, so that they spend more? Having a job. Not being dependent on government.
Look at their unemployment rate:
Canada and US unemployment rates
When we embraced “stimulus” spending, they went for the corporate tax cuts. Our unemployment rate used to be LOWER than theirs, before Pelosi and Reid took over Congress in January 2007. Now we are HIGHER than they are. That’s not rhetoric – that’s data. Even though Canada’s economy is linked to ours, and has suffered as a result of that, they have been signing free trade deals left, right and center. They did this in order to decouple themselves from our collapsing economy, massive debt and devalued currency. Barack Obama, of course, opposes free trade. He has to – he’s in the back pocket of the socialist labor unions.
Free trade empire: (click for larger image)
Canada: Free Trade Empire
What a contrast Canada’s energy policy makes with Obama’s politicized “Cash for Cronies” energy policy. But then again, Canada hired a conservative right-wing capitalist economist to run their country. We could have just done the same and put in economists like Thomas Sowell or Walter Williams to run our economy, but we put in an unqualified community organizer instead.
Ryan does a masterful job of puncturing Zients’ arguments, but let’s reiterate a few points that may have gotten lost in the shuffle.
(1) The White House is claiming that spending cuts within the Budget Control Act of 2011 — which is entirely separate from the FY 2013 budget — should count as savings “achieved” by their new proposal. This is silly on its face, but crosses into laughable territory when one recalls that throughout much of the debt fight, President Obama adamantly opposed a cuts-for-debt-ceiling-hike quid pro quo. He was on the record in favor of — demanding, in fact — zero cuts. Republicans dragged him into the BCA against his will; now he’s trying to take credit for that past action in next year’s budget.
(2) The White House says Obama’s budget “saves” $850 Billion by not fighting two wars at peak spending levels for another full decade. This money was never proposed because the scenario is pure fiction. These risible “savings” represent a White House bear-hug of Moon-Yogurt accounting. “Heaven help us” is right.
(3) Zients’ isn’t able to recall how much money this budget adds to the national debt. You’d think the White House Budget Director would have that figure committed to memory (he likely does, but doesn’t want to admit it on camera), but let’s help him out: The budget he’s defending adds nearly $11 Trillion to the debt, on top of the roughly $5 Trillion increase over which this president has already presided. I seem to recall an infamous Right-wing zealot calling this sort of governance “unpatriotic.”
Next, we have Rep. Scott Garrett, a strong conservative from Northern New Jersey, asking Zients when the president’s budget comes into balance. Zients refuses to directly respond to the question, perhaps because the correct answer is “never”…
Indeed, the closest Obama’s budget ever comes to balancing (expenses = revenues) within the ten-year projection window is 2017′s annual deficit of $617 Billion, which is still more than double the size of President Bush’s average annual deficit. Finally, Garrett lures Zients into a trap over Obamacare. Garrett asks if a family making less than $250,000 per year (“the rich” cut off) is subject to a tax increase if they fail to comply with Obamacare’s individual mandate…
The president sold Obamacare to the public by characterizing the resulting mandatory pay-out as a “fine,” not a tax increase. He even mocked George Stephanopoulos’ suggestion that it met the dictionary definition of a tax hike. Once the law passed, however, the administration’s lawyers pulled an about-face and have defended the mandate in court by arguing that the fine is, in fact, a tax increase after all. Zients has apparently reverted back to the outmoded argument, thus undermining his own administration’s legal defense of their signature “accomplishment.”
What I find frustrating is the media does such a poor job of vetting these “4 trillion dollar” claims that Obama makes. Sometimes, I wonder why anyone listens to mainstream media at all. What do you really learn?
Who is to blame for this woman’s troubles? Well, I agree with Driscoll that her family, the church and other Christians were to blame for not telling her the truth about sex. On that we all agree. Christians do a lousy job of explaining sex to young people, because they don’t want to talk about “dirty” stuff, and they don’t want to use arguments and evidence, and they don’t want to go outside the Bible to give real reasons and evidence. But thumping the Bible is a poor response to peer pressure and pop culture.
But she and Mark Driscoll also seem to think the man is to blame. Is the man to blame?
Well, the man certainly did bad things, but I think that none of these bad things could have happened to this woman in particular if this woman had not first chosen this man from all the other men that she knew, and then given him the opportunity to do these bad things. Without her own free choices, she would never have been harmed. So her own bad choices played a part in her suffering but she didn’t mention her own choices at all. So, let me take a look at how she could have made better choices below.
Can women expect a non-Christian man to act like a Christian man?
Women need to be careful to realize that they should avoid being alone with non-Christian men, especially when they are not even old enough to be dating men at all. That’s what courting is designed to prevent, by the way – the man has to go through the father to get to the woman, and they need to be accompanied by a chaperone at all times. And in any case, a woman can get love without touching a man just by listening to the man’s words, reading his writings, letting him serve her, washing a car together, and accepting gifts from him.
Women: you don’t go to a deserted beach with a non-Christian man. Don’t take risks like that. Especially when you have probably already done a lot with the guy. And don’t drink alcohol, it impairs your judgment. The purpose of men is to marry them, not to have a good time with them. No alcohol is allowed!
Paul says that you cannot expect non-Christians to act like Christians, which is exactly what many Christian women do.
9I have written you in my letter not to associate with sexually immoral people—
10not at all meaning the people of this world who are immoral, or the greedy and swindlers, or idolaters. In that case you would have to leave this world.
11But now I am writing you that you must not associate with anyone who calls himself a brother but is sexually immoral or greedy, an idolater or a slanderer, a drunkard or a swindler. With such a man do not even eat.
12What business is it of mine to judge those outside the church? Are you not to judge those inside?
13God will judge those outside. “Expel the wicked man from among you.”
14Do not be yoked together with unbelievers. For what do righteousness and wickedness have in common? Or what fellowship can light have with darkness?
15What harmony is there between Christ and Belial? What does a believer have in common with an unbeliever?
16What agreement is there between the temple of God and idols? For we are the temple of the living God. As God has said: “I will live with them and walk among them, and I will be their God, and they will be my people.”
Christians should not pursue non-Christians romantically – it’s disrespectful to God to leave him out of your romantic operations.
Women can stop a lot of the bad behavior of men just by choosing authentic Christian men by using rigorous objective criteria to evaluate men. If a woman chooses a non-Christian man, then she cannot complain if he acts like a non-Christian man. And there is more to a man being a Christian than just saying that he is, memorizing Bible verses and singing praise hymns in church. Christianity is a worldview. It has to be applied across the board. Christian women need to study to develop a Christian worldview of their own so they know how to evaluate the worldviews of candidate men.
What else can we learn from the video?
Here are a few more things that stood out to me in the video:
She should take more responsibility for their actions, instead of blaming others
She should study these things (not just the Bible!) on her own before she starts dating, to know why God puts these boundaries in place to protect her from harm
Her parents should have studied these things (not just the Bible!) more, and helped her more by being more convincing, to know why God puts these boundaries in place to protect her from harm
The church she grew up in should provide her with extra-biblical arguments and evidence from the objective external world so that she could resist ideologies like atheism, postmodernism, liberalism, feminism, etc. – she can’t act morally unless she believes that God exists and that morality is real
Women should also know that the decision to have sex before marriage with a man who isn’t a Christian doesn’t magically change him into a Christian. Sex isn’t magic. It doesn’t cause a man to like a woman, or to fall under her control.
Women go to school for 4 years to learn a trade and they need to put some effort into studying courtship rules so they can be wise about their own choices with men. Jumping into a car and trying to drive it without lessons is a good way to get killed. And emotions, intuitions, peer-pressure and pop-culture don’t help you to know how to drive a car. Be careful, think for yourself.
I also recommend that young, unmarried women become informed about anti-family, anti-father policies. If women don’t want to be hurt by men, then vote for stronger families, lower taxes, and policies that promote good husbands and good fathers. Girls need to see love modeled between a husband and wife as they grow up, and they need to have fathers in the home. Good public policies encourage men to marry and stay married.
Women need to get better criteria for choosing men
A while back, I posted on some of the criteria women have for choosing men, and here are a few:
Being tall
Being aloof and disinterested
Playing a musical instrument
Well-dressed
Stylish shoes
A deep voice
Handsome face
What do women expect when they choose men based on criteria like that? It makes no sense to blame a bad man for being bad. He’s BAD! Don’t go near him, he’ll be bad to you, too!
Shouldn’t women judge themselves first, before judging a man?
Shouldn’t women begin by removing the plank in their own eye before removing the speck from the man’s eye?
I think an excellent first step would be for Christian women to take a good look at the music they listen to, the movies they watch, and also what they read. Are they listening to Melissa Etheridge, watching “Thelma & Louise”, and reading Margaret Atwood? Are they informing themselves about truth in many areas, like economics and cosmology, so that they can make informed choices of men? Are they building resistance to cultural trends?
What is wrong with the woman in that video?
Shouldn’t this woman have put some effort into testing out the claims of her parents and the church by reading the Bible itself? I mentioned reading extra-biblical stuff but even the Bible doesn’t ground anything that she was doing or anything the church was telling her to do that was wrong. Driscoll seems to think that women are not obligated to read the Bible, and that if someone in the church tells them a lie, then the church is to blame. But shouldn’t we expect people who attend church to test these things out for themselves? I realize that she wasn’t a Christian, but in order to take responsibility, she could have said “I should have checked things in my Bible and so I share the blame”. She doesn’t say that because she doesn’t blame herself at all for anything that happened. Well, probably she went to church for the singing and never read what the Bible had to say – or didn’t take it as an authority. But she never blames herself for either one of those.
I noticed that she claims that if the church tells her something and she does it, then the church is to blame. Well, the church (or at least her parents) undoubtedly told her not to have sex before she was married, but she didn’t mention that in the video. Why not? Well, she only mentions things that other people tell her to blame them. When they tell her the right thing and she doesn’t do it, she doesn’t mention what they told her. Because she won’t blame herself for any reason. And Driscoll has nothing to say about that, either. Any time the church tells her something bad and she does it… it’s the church’s fault. Any time the church tells her something good and she DOESN’T do it… she just doesn’t mention it because she isn’t responsible for anything she does – it’s always the fault of someone else.
I don’t mind if she explains the circumstances surrounding WHY she made bad choices. I don’t even mind the bad choices, because I make bad choices. I just don’t like her blaming other people, I especially don’t like her blaming bad men. Bad men are bad. Don’t blame them for not being good – it’s your fault for choosing them. There are other men who are good who get no attention from women at all.
With increasing frequency I am consulted by nurses, who for the most part come from and were themselves traditionally members of (at least after Florence Nightingale) the respectable lower middle class, who have illegitimate children by men who first abuse and then abandon them. This abuse and later abandonment is usually all too predictable from the man’s previous history and character; but the nurses who have been treated in this way say they refrained from making a judgment about him because it is wrong to make judgments.
And again:
Why are the nurses so reluctant to come to the most inescapable of conclusions? Their training tells them, quite rightly, that it is their duty to care for everyone without regard for personal merit or deserts; but for them, there is no difference between suspending judgment for certain restricted purposes and making no judgment at all in any circumstances whatsoever. It is as if they were more afraid of passing an adverse verdict on someone than of getting a punch in the face—a likely enough consequence, incidentally, of their failure of discernment. Since it is scarcely possible to recognize a wife beater without inwardly condemning him, it is safer not to recognize him as one in the first place.
This failure of recognition is almost universal among my violently abused women patients, but its function for them is somewhat different from what it is for the nurses. The nurses need to retain a certain positive regard for their patients in order to do their job. But for the abused women, the failure to perceive in advance the violence of their chosen men serves to absolve them of all responsibility for whatever happens thereafter, allowing them to think of themselves as victims alone rather than the victims and accomplices they are. Moreover, it licenses them to obey their impulses and whims, allowing them to suppose that sexual attractiveness is the measure of all things and that prudence in the selection of a male companion is neither possible nor desirable.
Read the whole thing, you young women. And judge men hard. It’s good to judge them beforehand so that you don’t have to condemn them for being bad later.
RT @DiscoveryCSC: Stephen Meyer’s SIGNATURE IN THE CELL lays the groundwork for the large animals that show up in DARWIN’S DOUBT. http://t.…10 hours ago
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