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Finally

Obama: “The buck stops with me”

When things go wrong, they want to see action and a sense of responsibility for the breakdown. On that score, Obama did well by stating the obvious very firmly, although it would have been better to hear that kind of approach on December 25th, not January 7th.

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No More Bailouts

After $787 billion in stimulus spending and $700 billion in bank bailouts, the nation’s bulging debt is now $12.1 trillion.

The Obama administration’s latest $3.8 billion bail out of GMAC makes taxpayers the majority owners of the firm.
 
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Shell Games, Cont’d

Cash for Clunkers cost taxpayers $24,000 per real sale

The Cash for Clunkers program provided federal subsidies of up to $4500 for those car owners willing to buy a more fuel-efficient vehicle in exchange for certain classes of gas guzzlers.  In all, the C4C program generated over 690,000 sales in the few weeks that it ran, with an average subsidy of $4,348 per sale.  How many of these, though, would have bought a new car in the near future anyway?  According to a new study by Edmonds, an industry analyst, only 125,000 of these sales would have not been made without C4C — which brings the subsidy to about $24,000 per actual successful incentive (via Snapped Shot)

In the end, almost all C4C did was steal sales from the new model year.   Dealers unloaded last year’s models, and their new inventory will sit on the lots without the buyers they may have had otherwise.  The destruction of used cars will make it more difficult for lower-income earners to buy vehicles, thanks to a shortage of about 700,000 in the national inventory. That will impact employment and consumer spending indirectly, which will mean a drag on future GDP growth.


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BHO Read This


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Senator Graham Steps Out Of Senator McCain’s Shadow Right Into His Shoes

The new McCain

Sen. Lindsey Graham, a longtime friend and ally of Sen. John McCain, is now going a step further, Democrats say, and actually becoming the new McCain.

Senior members of the majority party say the South Carolina Republican has displaced his Arizona mentor as the dealmaker on two big agenda items of the Obama administration: climate change and immigration.
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Michael Moore, Closet Supply-Sider

Michael Moore is at it again, attacking capitalism and corporate America, this time with the film "Capitalism: A Love Story." Capitalism is "legalized greed," and "anti-Jesus," he says. And ... More »
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Warped

American Legion spitting nails over photo of dying soldier

The American Legion has issued a blistering statement about the Associated Press decision to publish a photo of a dying Marine over the objections of the Marine’s family.

I’m not sure I can put this any better, although I recommend reading Mudville Gazette’s take on the matter. Politico has a comprehensive report about the Pentagon’s outrage, and it should be noted that Politico did not run the picture with the story

I’m not sure which is more despicable — the decision to run the photo, or their self-serving claptrap afterwards about honoring the service of men and women in the war by exploiting their death. It demonstrates truly warped thinking and values. The AP should apologize immediately and withdraw the image, although that would probably not stop its dissemination now.

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Cap-And-Trade Is Refinery Killer

A new study shows that Waxman-Markey will increase prices at the pump, deepen our dependence on foreign oil and shred our ability to turn crude into gasoline. Even fuel-efficient cars will still need fuel.

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The fate of the Waxman-Markey climate bill rests upon two myths about so-called "clean coal." The first is that coal, as used today in the U.S., is a dirty fuel. The other is that coal can be made "clean" by capturing carbon dioxide (CO2) emissions from power plants and storing them underground in geologic repositories.

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The Mask Slips

WaPo poll: 7 in 10 Democrats now say war in Afghanistan wasn’t worth fighting

Remember, this is supposed to be the “good war” they were all pretend-itching to fight once Obama undid George Bush’s terrible, terrible mistake in Iraq. It was just over a year ago, as I recall, that Harry Reid was talking up how well things were going to boost The One’s campaign promise to secure the country.

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