Yearly Archives: 2011

Is the USA heading down the same path as Greece?

Too many riding in the wagon and not enough pulling the wagon. Is the USA heading down the same path as Greece?

U.S. Should Learn from Europe’s Welfare State Mistakes

by Daniel J. Mitchell 

Daniel J. Mitchell is a top expert on tax reform and supply-side tax policy at the Cato Institute.

Added to cato.org on November 8, 2011

This article appeared in US News and World Report on November 7, 2011.

Our long-run outlook is grim, but at least we still have time to reform the entitlement programs and save America from Greek-style fiscal collapse.

The conventional wisdom among economists is that a nation gets in deep trouble when government debt reaches 90 percent of GDP. That’s generally true, but it would be much more accurate to say that a nation gets in deep trouble when debt approaches 90 percent of GDP and the fiscal outlook shows even more red ink.

But this distinction doesn’t really matter much for the United States and Europe. Thanks to a combination of entitlement programs and aging populations, both face a bleak fiscal future. A 2010 study from the Bank for International Settlement shows that government debt in most industrialized nations will soar above 200 percent of GDP (in some cases, much higher) within the next few decades.

At some point, investors are going to realize that the United States is on an unsustainable path.

The only major difference is that European nations are farther down the path to fiscal collapse. The welfare state was adopted earlier in Europe and government spending among euro nations now consumes a staggering 49 percent of economic output. This heavy fiscal burden, especially when combined with onerous tax systems, helps explain why growth is anemic.

But the United States is only a couple of decades behind. According to long-run forecasts from the Congressional Budget Office, the burden of federal spending will reach European levels as the baby boom generation retires.

At some point, investors are going to realize that the United States is on an unsustainable path. Whether that’s 10 years from now or 20 years from now is anybody’s guess.

Daniel J. Mitchell is a top expert on tax reform and supply-side tax policy at the Cato Institute.

 

More by Daniel J. Mitchell

What we do know, however, is that Greece, Portugal, and Ireland already have stuck their snouts in the bailout trough, and it’s probably just a matter of time before Italy, Spain, and Belgium are in the same category. Heck, they’re already receiving indirect bailouts from the European Central Bank, which is buying up their dodgy debt in hopes of postponing the day of reckoning.

The one silver lining to this dark cloud is that the United States still can turn things around. Greece, Italy, and other welfare states have probably passed the point of no return, but it’s still possible for American lawmakers to fix the entitlement crisis by turning Medicaid over to the states , modernizing Medicare into a premium-support system, and transitioning to a system of personal retirement accounts for younger workers.

If those reforms don’t take place, the consequences won’t be pleasant. To be blunt, there won’t be an IMF to bail out the United States.

Great Christmas songs (Part 3)

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Paul McCartney “Wonderful Christmas Time”

Uploaded by  on Dec 16, 2007

http://andykazie.com/
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A music video of Paul’s great Christmas song to the scenes of Bryant Park and Rockefeller Center in Manhattan.

From Wikipedia:

Wonderful Christmastime” is a 1979 Christmas song by Paul McCartney. It enjoys significant Christmas time popularity around the world.[1] The notable synthesiser riff was played on a Sequential Circuits Prophet-5. The song was later added as a bonus track on the CD reissue of WingsBack to the Egg. Although the song did not chart on the Billboard Hot 100 in the United States, it reached #6 in the United Kingdom Singles Chart.[2] The video was filmed at the Fountain Inn in Ashurst, West Sussex.[3]

McCartney recorded the song entirely on his own during the sessions for his solo project McCartney II. Although the members of Wings are not on the recording, they do appear in the video.[4]

Fellow ex-Beatles John Lennon and George Harrison had already released festive singles, and Ringo Starr made a Christmas album in 1999. Of all of the former Beatle seasonal offerings, Lennon’s “Happy Xmas (War is Over)” and McCartney’s “Wonderful Christmastime” have become two of a large number of popular Christmas songs played year after year. “Wonderful Christmastime” can be heard in the 1998 animated film Rudolph the Red-Nosed Reindeer: The Movie during Santa’s takeoff on Christmas Day. Wings performed the song during their 1979 tour of the UK,[5] and McCartney included the song as an encore during his Good Evening Europe tour.[6]

McCartney has since gone on to state that he is now embarrassed about this record,[citation needed] yet it continues to receive substantial airplay every year. Including royalties from cover versions, it is estimated that Paul McCartney makes $400,000 per year from this song, which puts its cumulative earnings for this song at near $15 million.[7]

[edit] Cover versions

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One of my favorite Christmas songs from Evie:

Uploaded by on Apr 26, 2011

Evie Tornquist-Karlsson was Christian Music’s greatest sweetheart , she took the world by storm with her sweet angelic face & voice that touched everyone’s heart with her love for Jesus. She will forever be known as the girl who sang her songs for Jesus Christ. She was born 1957 in Rahway, New Jersey, professionally known as Evie, is a Contemporary Christian music singer who was known in the late 1970s and early 1980s for songs such as “Say I Do”, “My Tribute”, “Live For Jesus”, “Pass It On”, “Never The Same”, “Mirror”, “Born Again”, “Come On Ring Those Bells”, “Step Into The Sunshine” and “Four Feet Eleven”.

Born in the United States to Norwegian immigrants, Evie began her singing career as a young teenager while visiting her parents’ homeland. She released her English language debut album at the age of 16 in 1974, and went on to release more than 30 albums, including several in various Scandinavian languages. Evie was recognized as the Dove Award recipient of Female Vocalist of the Year for 1977 and 1978. She married Swedish pastor and musician Pelle Karlsson in 1979 and retired from performing music in 1981 to pursue other avenues of ministry, such as Sky Angel.

In the early 1980s Pelle and Evie Karlsson felt the Lord’s leading to join the “SKY ANGEL DOMINION NETWORK”. The Lord used them both in a might way for the Lord’s glory. While there, they recorded a few other albums. Evie and her husband has since left the SKY ANGEL NETWORK a number of years ago. Although Evie is “officially” retired from performing and doing concerts all the time on a regular basis since 1981 – she is still pursuing her music ministry with White Field Music, (owned by Pelle and Evie Karlsson) in Florida and very much involved in missions work with Back to Jerusalem. A vital, encouraging work. They also produce a wonderful outstanding 30 minute weekly series for Back To Jerusalem which can be viewed online. The weekly broadcast can be viewed her which is hosted by Pelle & Evie – http://www.backtojerusalem.com/video/latestBroadcast.html
All of the past episodes of the broadcast can be featured for downloading / viewing here –
http://www.backtojerusalem.com/btjPages/broadcast.html

Evie still does some concerts in Churches and in other venues and is also still on tour. She also tours to different venues with Rebecca St. James in a Mother and Daughter outreach series of programs they put on called, the “SHE” events. The SHE event tour with Evie for dates, and locations and more info please visit the SHE event tour dates – http://www.sheevent.com/events.html

Evie currently resides with her husband Pelle in Florida. Their two children, Kris and Jenny Karlsson are now out of high school. Jenny is already now very recently married and is a school teacher. Evie and her music is still loved today more then ever, and Evie albums are still being hunted down and collected by her fans. I had the wonderful privilege of having a very special invitation to a Concert that Evie was able to take part of, in September of 2005. Earlier, that year in February Evie was officially inducted into the Gospel Music Hall of Fame on February 22, 2005.

Ken Aden: Social Security is not a Ponzi Scheme and those who want to cut it are criminals

Ken Aden is running for Congress against Steve Womack in Arkansas’ third district. He believes Social Security is not a Ponzi Scheme and those who want to cut it are criminals. I was reading on the leftwing blog “Blue Arkansas” about Ken Alden and I got this video clip which is below:

It is my view that the wise thing would be to allow people to invest in personal retirement funds with a portion of the money that is going to Social Security now.

Saving Social Security with Personal Retirement Accounts

Uploaded by  on Jan 10, 2011

There are two crises facing Social Security. First the program has a gigantic unfunded liability, largely thanks to demographics. Second, the program is a very bad deal for younger workers, making them pay record amounts of tax in exchange for comparatively meager benefits. This video explains how personal accounts can solve both problems, and also notes that nations as varied as Australia, Chile, Sweden, and Hong Kong have implemented this pro-growth reform. http://www.freedomandprosperity.org

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Governor Rick Perry got in trouble for calling Social Security a Ponzi scheme and I totally agree with that. This is a series of articles that look at this issue.

Social Security Demagoguery from Mitt Romney and Michele Bachmann: Economically Wrong, Politically Wrong

Posted by Daniel J. Mitchell

Governor Rick Perry of Texas is being attacked by two rivals in the GOP presidential race. His sin, if you can believe it, is that he told the truth (as acknowledged by everyone from Paul Krugman to Milton Friedman) about Social Security being a Ponzi scheme.

Here’s an excerpt from Philip Klein’s column in the Examiner, looking at how Mitt Romney is criticizing Perry.

Mitt Romney doubled down on his attack against Texas Gov. Rick Perry this afternoon, warning in an interview with Sean Hannity that his critique of Social Security amounted to “terrible politics” that would cost Republicans the election. Romney’s decision to pile on suggests that he’s willing to play the “granny card” against Perry if it will help him get elected, a tactic more becoming of the likes of DNC chairwoman Debbie Wasserman Schultz than a potential Republican nominee.

And here’s a Byron York column from the Examiner looking at how Michele Bachmann is taking the same approach.

…another Republican rival, Michele Bachmann, is preparing to hit Perry on the same issue. “Bernie Madoff deals with Ponzi schemes, not the grandparents of America,” says a Bachmann adviser.  “Clearly she feels differently about the value of Social Security than Gov. Perry does.  She believes Social Security needs to be saved, that it’s an important safety net for Americans who have paid into it all their lives.” … “She strongly disagrees with his position on that…”

Shame on Romney and Bachmann. With an inflation-adjusted long-run shortfall of about $28 trillion, Social Security is a Ponzi scheme on steroids.

But as I explain in this video, that’s just part of the problem. The program also is a terrible deal for workers, particularly young people and minorities.

Here’s what’s so frustrating. Romney and Bachmann almost certainly understand that Social Security is actuarially bankrupt. And they probably realize that personal retirement accounts are the only long-run answer.

But they’re letting political ambition lure them into saying things that they know are not true. Why? Because they think Perry will lose votes and they can improve their respective chances of getting the GOP nomination.

Sounds like a smart approach, assuming truth and morality don’t matter.

But here’s what’s so ironic. The Romney and Bachmann strategy is only astute if Social Security is sacrosanct and personal accounts are political poison.

But as I noted last year, the American public supports personal accounts by a hefty margin. And former President Bush won two elections while supporting Social Security reform. And election-day polls confirmed that voters supported personal accounts.

I’m not a political scientist, so maybe something has changed, but I wouldn’t be surprised if Perry benefited from the left-wing demagoguery being utilized by Romney and Bachmann.

P.S. This does not mean Perry has the right answer. As far as I know, he hasn’t endorsed personal accounts. But at least he’s telling the truth about Social Security being unsustainable.

Related posts:

Social Security is a Ponzi scheme (Part 12)

U.S. Senator Rand Paul Speaks at Cato University 2011 Uploaded by catoinstitutevideo on Sep 6, 2011 http://www.cato.org/multimedia/subscribe.php U.S. Senator Rand Paul (R-KY) spoke at this year’s Cato University on everything from national healthcare and the commerce clause to spending cuts and social security reform. Cato University is the Cato Institute’s premier educational event of the […]

 

Social Security is a Ponzi scheme (Part 11)

Dan Mitchell on Social Security Uploaded by catoinstitutevideo on Aug 19, 2010 Discussing the troubles facing social security, with Mark Walsh, Left Jab host and Dan Mitchell, Cato Institute. Social Security is a Ponzi scheme (Part 4) Governor Rick Perry got in trouble for calling Social Security a Ponzi scheme and I totally agree with […]

 

Milton Friedman discusses Reagan and Reagan discusses Friedman

Uploaded by YAFTV on Aug 19, 2009 Nobel Laureate Dr. Milton Friedman discusses the principles of Ronald Reagan during this talk for students at Young America’s Foundation’s 25th annual National Conservative Student Conference MILTON FRIEDMAN ON RONALD REAGAN In Friday’s WSJ, Milton Friedman reflectedon Ronald Reagan’s legacy. (The link should work for a few more […]

 

Social Security is a Ponzi scheme (Part 10)

Milton Friedman – The Social Security Myth Uploaded by LibertyPen on Mar 5, 2010 Using Social Security as his prime example, Professor Friedman explodes the myth that the major expansions in government resulted from popular demand. In a speech delivered more than 30 years ago, he directly relates this dynamic to today’s health care debate. […]

 

Rick Perry’s answer in Republican debate of October 11, 2011 (with video clip)

I really like Rick Perry because he was right when he called Social Security a “Ponzi Scheme” which it is. How did he do in the last debate? You be the judge by watching his response above. Rick Perry’s Moment Posted by Roger Pilon Last night POLITICO Arena asked: Who won the Reagan debate? My […]

 

Cain’s 9-9-9 plan center stage at Republican debate of October 11, 2011 (with video clip)

Herman Cain’s 9-9-9 plan did steal the show at the Republican debate of October 11, 2011. Take a look at this article below: The Republican presidential debate in Hanover, N.H. (AP) There was one clear winner from Tuesday’s Republican presidential debate, based on the simple metrics of name recognition: businessman Herman Cain’s “9-9-9 Plan.” Virtually […]

 

Social Security is a Ponzi scheme (Part 9)

Sen. Hutchison Speaks at the Heritage Foundation Forum on Saving Social Security Uploaded by SenatorHutchison on Jun 21, 2011 Senator Kay Bailey Hutchison delivered remarks regarding her landmark proposal on entitlement reform, the Defend and Save Social Security Act at the Heritage Foundation’s “Saving Social Security” event. Sen. Hutchison announced that Senator Jon Kyl (R-AZ), […]

 

Social Security is a Ponzi scheme (Part 8)

IOUSA Solutions: Part 1 of 5 Uploaded by LibertyPen on Jan 8, 2009 Professor Williams explains what’s ahead for Social Security Governor Rick Perry got in trouble for calling Social Security a Ponzi scheme and I totally agree with that. This is a series of articles that look at this issue. The Case for (Carve-Out) […]

 

Social Security is a Ponzi scheme (Part 7)

Social Security is a Ponzi scheme (Part 7) IOUSA Solutions: Part 2 of 5 Governor Rick Perry got in trouble for calling Social Security a Ponzi scheme and I totally agree with that. This is a series of articles that look at this issue. Personal Accounts Build More Than Just Assets by Andrew Biggs This article […]

 

Social Security is a Ponzi scheme (Part 6)

Further Reforms to Modernize Social Security — Saving the American Dream Uploaded by HeritageFoundation on May 24, 2011 http://www.savingthedream.org | Currently deep in debt, America’s Social Security program doesn’t look very secure. Today there is a new plan to get it back on track. David John, Senior Research Fellow in Retirement Security at The Heritage […]

 

Republicans need to tackle runaway entitlement spending

Republicans need to tackle runaway entitlement spending Uploaded by NatlTaxpayersUnion on Feb 15, 2011 Dan Mitchell, Senior Fellow at the Cato Institute, speaks at Moving Forward on Entitlements: Practical Steps to Reform, NTUF’s entitlement reform event at CPAC, on Feb. 11, 2011. __________________________ I am disappointed in some of the Republicans who do not want […]

 

Ron Paul, Rick Perry and Mitt Romney have the money coming in

I really like Ron Paul and Rick Perry. Only three Republican presidential candidates are worth any money _ campaign money, that is. Mitt Romney, Rick Perry and Ron Paul have banked millions. But the other GOP candidates are struggling or broke, putting their candidacies in question four months before the first nominating contests take place. […]

 

Rick Perry says Social Security is a Ponzi scheme

Rick Perry says Social Security is a Ponzi scheme Rick Perry and Mitt Romney went after each other at the debate over this term “Ponzi scheme.” Over and over Rick Perry has said that Social Security is a Ponzi scheme and I agree with him. John Brummett asserted,”Rick Perry was last week’s savior, but then he […]

 

Social Security is a Ponzi scheme (Part 5)

 IOUSA Solutions: Part 3 of 5 Uploaded by IOUSAtheMovie on Aug 25, 2010 The award-winning documentary I.O.U.S.A. opened up America’s eyes to the consequences of our nation’s debt and the need for our government to show more fiscal responsibility. Now that more Americans and elected officials are aware of our fiscal challenges, the producers of […]

 

Social Security is a Ponzi scheme (Part 4)

Social Security is a Ponzi scheme (Part 4) Governor Rick Perry got in trouble for calling Social Security a Ponzi scheme and I totally agree with that. This is a series of articles that look at this issue. Trains, Pensions, and Economic Freedom by Timothy B. Lee This article appeared on Forbes.com on August 17, 2011. recently […]

 

Social Security is a Ponzi scheme (Part 3)

Social Security is a Ponzi scheme (Part 3) Governor Rick Perry got in trouble for calling Social Security a Ponzi scheme and I totally agree with that. This is a series of articles that look at this issue. Personal Accounts and the Savings Rate by Timothy B. Lee This article appeared on Forbes.com on September 11, 2011 […]

 

Rick Perry’s Ponzi-scheme claim is in no way unprecedented

Rick Perry and Mitt Romney went after each other at the debate over this term “Ponzi scheme.” Janet M. LaRue   Romney’s Ponzi Phobia 9/19/2011 When it comes to Social Security, Republicans should stop treating seniors like the feeble-minded demographic portrayed in commercials written by 13-year-olds on Madison Avenue. It’s like the home security commercial […]

 

Social Security is a Ponzi scheme (Part 2)

Social Security is a Ponzi scheme (Part 2) John Stossel – Government’s Ponzi Scheme Uploaded by LibertyPen on Apr 21, 2010 A look at the Social Security system. By contrast, Bernie Madoff seems like a shoplifter. http://www.LibertyPen.com Uploaded by LibertyPen on Jan 8, 2009 Professor Williams explains what’s ahead for Social Security ______________________________ Governor Rick […]

 

Only difference between Ponzi scheme and Social Security is you can say no to Ponzi Scheme jh2d

Is Social Security  a Ponzi Scheme? I just started a series on this subject. In this article below you will see where the name “Ponzi scheme” came from and if it should be applied to the Social Security System. Ponzi! Ponzi! Ponzi! 9/14/2011 | Email John Stossel | Columnist’s Archive Ponzi! Ponzi! Ponzi! There, I […]

 

Despite Brantley’s view,Social Security really is a Ponzi scheme (Part 1) (jh1d)

Social Security is a Ponzi scheme (Part 1) Governor Rick Perry got in trouble for calling Social Security a Ponzi scheme and I totally agree with that. Max Brantley wants to keep insisting that this will be Perry’s downfall but  think that truth will win out this time around. This is a series of articles […]

How much of our pay should we be allowed to keep?

Liberals want to spend our money and they think that government should get more of our money.

Brandon Stewart

September 14, 2011 at 11:16 am

In a interview with Chicago’s Don Wade & Roma radio show this morning, Congresswoman Jan Schakowsky claimed that Americans aren’t entitled to all of their own money.

Toward the end of a wide-ranging interview, the hosts played a clip from this week’s Republican Presidential Debate where California teenager Tyler Hinsley asked, “Of every dollar that I earn, how much do you think I deserve to keep?” Co-host Don Wade asked Schakowsky to answer the same question.

After some initial back-and-forth, she replied, “I’ll put it this way, you don’t deserve to keep all of it. It’s not a question of deserving, because what government is, is those things that we decide to do together.”

Despite the hosts’ persistence, Schakowsky declined to answer what percentage of a person’s income they deserved to keep. “I pay at a 35% tax rate, happy to do it,” she explained when the hosts persisted with their question. She again declined to say how much more she would personally be willing to pay.

But Rep. Schakowsky is not alone. Her views are sadly typical of a liberal worldview that sees a person’s earnings as belonging first to the state. In fact, the left is now doubling down on this misguided belief, with the President pushing for more stimulus spending despite the failures of earlier “stimulus.”

But while the left continues to promote the same failed policies—more taxes, more regulation, more big government—conservatives need to trumpet the benefits of low taxes, sensible regulations, and small government. As Heritage’s Dubay explains:

The best way to grow revenues is to promote faster economic growth, which will increase the number of taxpayers and taxable income more rapidly. Tax hikes—whether through higher tax rates or slashing credits, deductions, and exemptions without offsetting reductions elsewhere—will not do the job. Under President Obama’s current policies, spending will continue to grow at a faster rate than can be paid for by tax hikes—even assuming the huge tax increases the President insists upon. To add insult to injury, as history has shown, tax hikes would slow economic growth and make it even harder for unemployed Americans to find a job.

Listen to the full interview here:

WLS 890 – Don Wade & Roma’s interview with Jan Schakowsky

“Tip Tuesday” Advice to Gene Simmons

Gene-Simmons-tvae-24.jpg

Gene Simmons Family Jewels

Gene-Simmons-tvae-24.jpg

Gene Simmons Family Jewels

Adrian Rogers – [2/3] How to Cultivate a Marriage

The series I have been doing on “Advice to Gene Simmons” that I am starting what I am calling “Tip Tuesday.” For the next few months we will be looking at the Simmons family.

On July 19th on Gene Simmons Jewels, in a meeting with his marriage counselor, Gene stated, “There is never enough money. Money is the implantation of love.  It begins there and it is only money that provides the walls of your fortress.” Dr. Ann Wexler responds, “Only money? In the pursuit of all this money, in the pursuit of all this fame, aren’t there things that you have missed?”

Gene responded that he missed his daughter’s graduation, but that is life. 

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My advice to Gene Simmons is very simple. Ann Wexler mentioned to him that there is a point where you have enough money and should turn your attention to other important things in his life like relationships. She implies that Gene is being selfish. 

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Many times when a marriage is falling apart there is lots of selfishness that comes out in the open. It may be that a love of money is exposed or it may be a desire to satisfy carnal desires. 

Here are some important points.  First, we are to be married and faithful to one lady. Gene has been having occasional affairs and deep down thinks he deserves the right to do this. However, that is not the plan that God has for us. 

Second, we are to love our wife as Christ loves the church and that means we love her more than anything even money. 

Brandon Barnard in his message “The Battle for Purity” at Fellowship Bible Church on July 24 said there were two paths. The path of impurity and the path of purity. Last time we looked at the path of impurity and today we want to look at the path of purity.

THOSE ON THE PATHWAY TO PURITY WILL PURSUE ALL PLEASURE IN CHRIST AND TAKE GREAT DELIGHT IN THEIR SPOUSE ALONE AND DRINK WATER FROM YOUR OWN CISTERN AND REJOICE IN THE WIFE OF YOUR YOUTH.

Proverbs 5:15-20 states:

15Drink water from your own cistern,
   flowing water from your own well.
16Should your springs be scattered abroad,
   streams of water in the streets?
17 Let them be for yourself alone,
   and not for strangers with you.
18Let your fountain be blessed,
   and rejoice in the wife of your youth,

 19a lovely deer, a graceful doe.
Let her breasts fill you at all times with delight;
   be intoxicated[a] always in her love.
20Why should you be intoxicated, my son, with a forbidden woman
   and embrace the bosom of an adulteress?[b]

Adrian Rogers – [2/3] How to Cultivate a Marriage

Stimulus plans never work!!!

Government Spending Doesn’t Create Jobs

Uploaded by on Sep 7, 2011

Share this on Facebook: http://on.fb.me/qnjkn9 Tweet it: http://tiny.cc/o9v9t

In the debate of job creation and how best to pursue it as a policy goal, one point is forgotten: Government doesn’t create jobs. Government only diverts resources from one use to another, which doesn’t create new employment.

Video produced by Caleb Brown and Austin Bragg.

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It seems that liberals will never wake up. Over and over they have tried stimulus plans but they don’t work. Take a look at this excellent article from the Cato Institute:

Keynesian Policies Have Failed

by Chris Edwards

Chris Edwards is the director of tax policy studies at the Cato Institute and the editor of Downsizing Government.org.

Added to cato.org on December 2, 2011

This article appeared on U.S. News & World Report Online on December 2, 2011

Lawmakers are considering extending temporary payroll tax cuts. But the policy is based on faulty Keynesian theories and misplaced confidence in the government’s ability to micromanage short-run growth.

In textbook Keynesian terms, federal deficits stimulate growth by goosing “aggregate demand,” or consumer spending. Since the recession began, we’ve had a lot of goosing — deficits were $459 billion in 2008, $1.4 trillion in 2009, $1.3 trillion in 2010, and $1.3 trillion in 2011. Despite that huge supposed stimulus, unemployment remains remarkably high and the recovery has been the slowest since World War II.

Policymakers should ignore the Keynesians and their faulty models, and instead focus on reforms to aid long-run growth…

Yet supporters of extending payroll tax cuts think that adding another $265 billion to the deficit next year will somehow spur growth. That “stimulus” would be on top of the $1 trillion in deficit spending that is already expected in 2012. Far from helping the economy, all this deficit spending is destabilizing financial markets, scaring businesses away from investing, and imposing crushing debt burdens on young people.

For three years, policymakers have tried to manipulate short-run economic growth, and they have failed. They have put too much trust in macroeconomists, who are frankly lousy at modeling the complex workings of the short-run economy. In early 2008, the Congressional Budget Office projected that economic growth would strengthen in subsequent years, and thus completely missed the deep recession that had already begun. And then there was the infamously bad projection by Obama’s macroeconomists that unemployment would peak at 8 percent and then fall steadily if the 2009 stimulus plan was passed.

Chris Edwards is the director of tax policy studies at the Cato Institute and the editor of Downsizing Government.org.

 

More by Chris Edwards

Some of the same Keynesian macroeconomists who got it wrong on the recession and stimulus are now claiming that a temporary payroll tax break would boost growth. But as Stanford University economist John Taylor has argued, the supposed benefits of government stimulus have been “built in” or predetermined by the underlying assumptions of the Keynesian models.

Policymakers should ignore the Keynesians and their faulty models, and instead focus on reforms to aid long-run growth, which economists know a lot more about. Cutting the corporate tax rate, for example, is an overdue reform with bipartisan support that would enhance America’s long-run productivity and competitiveness.

If Congress is intent on cutting payroll taxes, it should do so within the context of long-run fiscal reforms. One idea is to allow workers to steer a portion of their payroll taxes into personal retirement accounts, as Chile and other nations have done. That reform would feel like a tax cut to workers because they would retain ownership of the funds, and it would begin solving the long-term budget crisis that looms over the economy.

Related posts:

Stimulus plans do not work (part 2)

Dan Mitchell discusses the effectiveness of the stimulus Uploaded by catoinstitutevideo on Nov 3, 2009 11-2-09 When I think of all our hard earned money that has been wasted on stimulus programs it makes me sad. It has never worked and will not in the future too. Take a look at a few thoughts from […]

Stimulus plans do not work (Part 1)

Government Spending Doesn’t Create Jobs Uploaded by catoinstitutevideo on Sep 7, 2011 Share this on Facebook: http://on.fb.me/qnjkn9 Tweet it: http://tiny.cc/o9v9t In the debate of job creation and how best to pursue it as a policy goal, one point is forgotten: Government doesn’t create jobs. Government only diverts resources from one use to another, which doesn’t […]

Dumas thinks we don’t need Balanced Budget Amendment but should balance it on our own

In his recent article Ernie Dumas sticks to his guns that we should balance the budget without being forced to with a “Balanced Budget Amendment,” but I wonder how well that has worked so far? I have made this a key issue for this blog in the past as you can tell below: Dear Senator […]

Maybe the “Occupy Wall Street” crowd should be angry at Obama

(Picture from Arkansas Times Blog) When I think about all the anger and hate coming from the Occupy Wall Street crowd, I wonder if they have read this story below? Solyndra: Crooked Politics or Just Bad Economics? Posted by David Boaz Amy Harder has a good take on the Solyndra issue in National Journal Daily […]

Dear Senator Pryor, why not pass the Balanced Budget Amendment? (Part 13 Thirsty Thursday, Open letter to Senator Pryor)

Dear Senator Pryor, why not pass the Balanced Budget Amendment? (Part 13 Thirsty Thursday, Open letter to Senator Pryor) Office of the Majority Whip | Balanced Budget Amendment Video In 1995, Congress nearly passed a constitutional amendment mandating a balanced budget. The Balanced Budget Amendment would have forced the federal government to live within its […]

Mark Pryor not for President’s job bill even though he voted for it

Andrew Demillo pointed this out  and also Jason Tolbert noted: PRYOR OPPOSES THE OBAMA JOBS BILL THAT HE VOTED TO ADVANCE  Sen. Mark Pryor has been traveling around the state touting a six-part jobs plan that he says “includes a number of bipartisan initiatives, is aimed at creating jobs by setting the table for growth, encouraging new […]

Is a lack of money the problem for our public schools?

Is a lack of money the problem for our public schools? Everything You Need to Know About Public School Spending in Less Than 2½ Minutes Posted by Adam Schaeffer Neal McCluskey gutted the President’s new “Save the Teachers” American Jobs Act sales pitch a good while back, as did Andrew Coulson here. Thankfully, it seems […]

Great Christmas songs (Part 2)

Coldplay Christmas song

Uploaded by  on Nov 25, 2011

Christmas time is near, so I decided to reupload this Christmas Song by Coldplay. They released it last year. Hope you like it!!

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Another one of my favorite Christmas songs is below:

“COME ON RING THOSE BELLS” ~ featuring Evie Tornquist-Karlsson

Evie Tornquist – It Only Takes A Spark † Pass It On 

From Wikipedia:

Evie Tornquist-Karlsson (born 1957 in Rahway, New Jersey[1]), professionally known as Evie, is a Contemporary Christian music singer who was known in the late 1970s and early 1980s for songs such as “Step into the Sunshine” and “Four Feet Eleven”.[2]

Born in the United States to Norwegian immigrants, Evie began her singing career as a young teenager while visiting her parents’ homeland.[3] She released her English language debut album at the age of 16 in 1974,[4] and went on to release more than 30 albums, including several in various Scandinavian languages.[3] Evie was recognized as the Dove Award recipient of Female Vocalist of the Year for 1977 and 1978.[5] She married Swedish pastor and musician Pelle Karlsson in 1979 and retired from performing music in 1981 to pursue other avenues of ministry, such as Sky Angel.[6] Evie later became a mentor to Christian musician Rebecca St. James,[4] joining her for an event series geared toward helping girls and women apply biblical principles in the 21st century.[7]

Evie was officially inducted into the Gospel Music Hall of Fame on February 22, 2005,[3] and was one of the inaugural inductees to the Christian Music Hall of Fame.[8]

Is Kourtney Kardashian the new Murphey Brown?

Farrah Abraham, Kourtney Kardashian
Do you remember Murphey Brown from the early 1990’s? Is Kourtney Kardashian the new Murphey Brown?

It’s a war between reality TV moms.

After Kourtney Kardashian revealed her pregnancy last week, Teen Mom star Farrah Abraham tweeted, “Im Shocked Kourtney Kardashian is pregnant again, Did she not learn anything from TEEN MOM? Maybe its a fake pregnancy like kims wedding. SAD.”

Kourtney Kardashian Pregnant With Baby No. 2

Kardashian, 32, and her boyfriend Scott Disick, 28, both shot back at the 20-year-old MTV cast member.

“Why would I have anything to do with teen mom? I’m 32 years old! I may look young, honey, but don’t get it twisted. :)” wrote Kardashian, co-star of Kourtney and Kim Take New York. Disick followed up by writing: “We’re not teenagers ya [bleep] moron.”


Abraham later “clarified” by tweeting, “4 all who misunderstood: regards to kourtney K.~ I hope she takes her relationship w/her boyfriend more serious 4 their children-takecare.” She later added, “caught wind of these dramatic articles, w/ loser scott disick or some boyfriend of kourtneys … Great dad! NOT.”

Kardashian and Disick already parents are to 23-month-old son, Mason

I got a lot out of this article below:
Today, Avery Brown turns 18. If your initial thought is to ask “Who’s that?”, then you’ve actually made my point. Avery was the son of TV news anchor Murphy Brown, from the once-hit sitcom of the same name, who came into the world on May 18, 1992. Avery Brown, born into politics, would now be old enough to vote.

His arrival all those years ago ended up being about nothing but votes, coming at the end of Murphy Brown‘s fourth season in which its fortysomething title character found herself with an unplanned pregnancy and opted to have the baby, alone, without its father. The fictional decision led to an all-too-real national tumult after then-Vice President Dan Quayle took the endorsement of single parenting to task for contributing to society’s moral decay.

But retrospection suggests the firestorm back then was less a consequence of what he said than it was of the fact that it was the oft-maligned Quayle who said it. Because, let’s face it, what was said doesn’t seem all that crazy today. As some observers suggested not long after the 1992 election, Dan Quayle, seems to have been, gulp, right. And maybe today more than ever. Single parenting, though much less the hot-button topic that it was back then, is a full-time commitment. It’s not one to be taken casually. Just ask the nearly 14 million householdsin America that work at it. That’s controversial?

Our society simply loves to kill the messenger when the message provides discomfort or — perhaps especially — when one comes across as a societal scold. Whether Quayle or Tipper Gore (who a few years earlier had railed against risque music lyrics), a certain segment of society — Hollywood, for instance — has no patience for prudes. Yet the simple fact is that TV can and often does get it wrong. And looking at it 18 years later, it seems Murphy Brown whiffed.

Those 38 words

Campaigning in San Francisco on May 19, 1992, the vice president spoke the day after Avery was delivered in prime time. More significant, he spoke fewer than three weeks after the start of the Rodney King police-acquittal riots in Los Angeles.

With the city to the south still smoldering, Quayle used the unrest as a jumping-off point for a speech that lamented a “poverty of values” amid societal upheaval. Toward his close, he used the still-famous 38 words that formed a sound bite heard ’round the world: “It doesn’t help matters when prime-time TV has Murphy Brown — a character who supposedly epitomizes today’s intelligent, highly paid, professional woman — mocking the importance of fathers, by bearing a child alone, and calling it just another ‘lifestyle choice.’ ”

His words sparked a nationwide election-year debate on family values. It came to a head later that summer at the Emmys in an act of self-indulgence, over the top even by TV measures, when Murphy Brown producer Diane English took to the stage and said, “Don’t let anyone tell you you’re not a family.” Which, of course, Quayle never said. In fact, he referred to single-mother households as just that — as ” families.”

Quayle really just said that having children in real life shouldn’t be nearly as casual a decision as it can be shown to be on TV. That parenting is crucial to social order. That those involved in TV should be mindful of the words and images they present. And he said it, despite efforts to convey otherwise, in relation to a fictional person — a TV character. But when Murphy Brown ultimately fired back at Quayle with a fall 1992 episode that skewered his speech, the script implied that the vice president was criticizing a real figure.

But here’s the rub with the hubbub: The show just forgot about Avery. Beyond his birth season, when nine of 22 episodes focused on him, Avery seemed part of his mother’s life in any meaningful way in just 12 of the 121 remaining episodes.

Murphy Brown would have had a touch of credibility on this vexing social issue if it had actually followed through.

AWOL Avery

Full and funny, Murphy’s life involved romance and travel and career — but not always a child. In many ways, she seemed to be leading the glamorous single-parent life that Quayle said TV can unwisely offer. Presumably, Quayle would suggest that in real life, especially in today’s real life, parents don’t have the luxury of tending to kids only when it services a storyline. Children are in need of parenting all the time. Social order demands it.

Present-day defenders of the show, of course, would argue that no show can focus on parenting once kids are born. I Love Lucy didn’t. A whole roster of TV series over the years have resorted to newborns to goose ratings — and then shooed the child away. Yet none of the other shows made such a hoopla about parenting asMurphy Brown did. And none co-opted real-life events — with a compliant vice president — the way Murphy Brown did. Social conservatives too often cry wolf about Hollywood’s disconnect. But in this instance, the show’s treatment of Avery made their case.

Words and images have consequences. They last. In real life and in TV. Quayle’s speech has endured since 1992, especially the idea that parenting is a full-time job. Avery, not so much.

Raising kids, raising ideas — each raises the stakes of responsibility.

Jim McKairnes is a writer who lives in Los Angeles.

Great Christmas songs (Part 1)


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This info below from Wikipedia:

Band Aid was a charity supergroup featuring British and Irish musicians and recording artists.[1][2] It was founded in 1984 by Bob Geldof and Midge Ure to raise money for famine relief inEthiopia by releasing the song “Do They Know It’s Christmas?” for the Christmas market that year. The single surpassed the hopes of the producers to become the Christmas number one on that release. Two subsequent re-recordings of the song to raise further money for charity also topped the charts. The original was produced by Midge Ure. The 12″ version was mixed by Trevor Horn.

The name ‘Band Aid’ was chosen as a pun on the name of a well known brand of adhesive bandage, also referring to musicians working as a band to provide aid and alluding to the fact that any help stemming from their efforts is likened to a band-aid on a very serious wound.

The group has formed on three occasions, each time from the most successful British and Irish pop music performers of the time, to record the same song at the same time of year.

[edit]Original Band-Aid

[edit]Chronology (1984)

Question book-new.svg
This section does not cite any references or sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed(November 2011)

The original 1984 Feed The World logo was based on a pencil sketch by Bob Geldof after watching a BBC television news report by Michael Buerk from famine-stricken Ethiopia. Geldof was so moved by the plight of starving children that he decided to try to raise money using his contacts in pop music. Geldof enlisted the help of Midge Ure, from the group Ultravox, to help produce a charity record. Ure took Geldof’s lyrics, and created the melody and backing track for the record. Geldof called many of the most popular British and Irish performers of the time (Kool & The Gang and Jody Watley were the only Americans present at the original recording), persuading them to give their time free. His one criterion for selection was how famous they were, in order to maximise sales of the record. He then kept an appointment to appear on a show on BBC Radio 1, with Richard Skinner, but instead of promoting the newBoomtown Rats material as planned, he announced the plan for Band Aid. The recording studio gave Band Aid no more than 24 free hours to record and mix the record, on 25 November 1984. The recording took place at SARM Studios in Notting Hill between 11am and 7pm, and was filmed by director Nigel Dick to be released as the pop video though some basic tracks had been recorded the day before at Midge Ure’s home studio. The first tracks to be recorded were the group / choir choruses which were filmed by the international press. The footage was rushed to newsrooms where it aired while the remainder of the recording process continued. Later, drums by Phil Collins were recorded. The introduction of the song features a slowed down sample from a Tears for Fears‘ track called “The Hurting”, released in 1983. Tony Hadley, of Spandau Ballet, was the first to record his vocal, while a section sung by Status Quo was deemed unusable, and replaced with section comprising Paul WellerSting, and Glenn GregorySimon Le Bon from Duran Duran sang between contributions from George Michael and Sting. Paul Young has since admitted, in a documentary, that he knew his opening lines were written for David Bowie, who was not able to make the recording but made a contribution to the B-side (Bowie performed his lines at the Live Aid concert the following year). Boy George arrived last at 6pm, after Geldof woke him up by ‘phone to have him flown over from New York on Concorde to record his solo part. (At the time, Culture Club was in the middle of a US tour.)

The following morning, Geldof appeared on the Radio 1 breakfast show with Mike Read, to promote the record further and promise that every penny would go to the cause. This led to a stand-off with the British Government, who refused to waive the VAT on the sales of the single. Geldof made the headlines by publicly standing up to Prime Minister Margaret Thatcherand, sensing the strength of public feeling, the government backed down and donated the tax back to the charity.

The record was released on November 29, 1984, and went straight to No. 1 in the UK singles chart, outselling all the other records in the chart put together. It became the fastest- selling single of all time in the UK, selling a million copies in the first week alone. It stayed at No. 1 for five weeks, selling over three million copies and becoming easily the biggest-selling single of all time in the UK, thus beating the seven-year record held by Mull of Kintyre. It has since been surpassed by Elton John‘s “Candle in the Wind 1997” (his tribute to Diana, Princess of Wales) but it is likely to keep selling in different versions for many years to come.

After Live Aid, “Do They Know It’s Christmas?” was re-released in late 1985 in a set that included a special-edition ‘picture disc’ version, modelled after the Live Aid logo with ‘Band’ in place of ‘Live’. An added bonus, “One Year On” (a statement from Geldof and Ure on the telephone) was available as a b-side. “One Year On” can also be found in transcript form in a booklet which was included in the DVD set of Live Aid, the first disc of which features the BBC news report, as well as the Band Aid video.

[edit]Participants

The original Band Aid ensemble consisted of (in sleeve order):

The sleeve artist, Peter Blake, was also credited on the sleeve.

_________________________

Another one of my favorite Christmas songs is below:

“COME ON RING THOSE BELLS” ~ featuring Evie Tornquist-Karlsson

Evie Tornquist Karlsson and her husband Pelle sing “United We Stand” On Billy Graham Crusade

Uploaded by on Apr 26, 2011

Evie Tornquist-Karlsson was Christian Music’s greatest sweetheart , she took the world by storm with her sweet angelic face & voice that touched everyone’s heart with her love for Jesus. She will forever be known as the girl who sang her songs for Jesus Christ. She was born 1957 in Rahway, New Jersey, professionally known as Evie, is a Contemporary Christian music singer who was known in the late 1970s and early 1980s for songs such as “Say I Do”, “My Tribute”, “Live For Jesus”, “Pass It On”, “Never The Same”, “Mirror”, “Born Again”, “Come On Ring Those Bells”, “Step Into The Sunshine” and “Four Feet Eleven”.

Born in the United States to Norwegian immigrants, Evie began her singing career as a young teenager while visiting her parents’ homeland. She released her English language debut album at the age of 16 in 1974, and went on to release more than 30 albums, including several in various Scandinavian languages. Evie was recognized as the Dove Award recipient of Female Vocalist of the Year for 1977 and 1978. She married Swedish pastor and musician Pelle Karlsson in 1979 and retired from performing music in 1981 to pursue other avenues of ministry, such as Sky Angel.

In the early 1980s Pelle and Evie Karlsson felt the Lord’s leading to join the “SKY ANGEL DOMINION NETWORK”. The Lord used them both in a might way for the Lord’s glory. While there, they recorded a few other albums. Evie and her husband has since left the SKY ANGEL NETWORK a number of years ago. Although Evie is “officially” retired from performing and doing concerts all the time on a regular basis since 1981 – she is still pursuing her music ministry with White Field Music, (owned by Pelle and Evie Karlsson) in Florida and very much involved in missions work with Back to Jerusalem. A vital, encouraging work. They also produce a wonderful outstanding 30 minute weekly series for Back To Jerusalem which can be viewed online. The weekly broadcast can be viewed her which is hosted by Pelle & Evie – http://www.backtojerusalem.com/video/latestBroadcast.html
All of the past episodes of the broadcast can be featured for downloading / viewing here –
http://www.backtojerusalem.com/btjPages/broadcast.html

Evie still does some concerts in Churches and in other venues and is also still on tour. She also tours to different venues with Rebecca St. James in a Mother and Daughter outreach series of programs they put on called, the “SHE” events. The SHE event tour with Evie for dates, and locations and more info please visit the SHE event tour dates – http://www.sheevent.com/events.html

Evie currently resides with her husband Pelle in Florida. Their two children, Kris and Jenny Karlsson are now out of high school. Jenny is already now very recently married and is a school teacher. Evie and her music is still loved today more then ever, and Evie albums are still being hunted down and collected by her fans. I had the wonderful privilege of having a very special invitation to a Concert that Evie was able to take part of, in September of 2005. Earlier, that year in February Evie was officially inducted into the Gospel Music Hall of Fame on February 22, 2005. Some of Evie’s best selling LP’S include:

2008 – Jul med Evie (Nyutgivning på CD av LP-skivorna “Jul med Evie” från -74 “Julens
klockor ring” från -78)
— Christmas with Evie (republication of CDs of LPs “Christmas with Evie” from -74 and “Christmas bells ring” from -78)
2006 – Evie På Svenska – 15 Önskesånger
2006 – Evie In Swedish – 15 Wishful Songs
1998 Day by Day (Word UK)
1996 Songs for his family
1993*Exact date unknown- Evie’s Special Christmas Delivery Album
1989 Spirit Song (as Evie Karlsson – Cedited)
Maranatha! Singers, The – Praise 3 Album
1987 Christmas Memories
1986 When all is said and done
1985 Loving Promises – 2 LP Set
1984 Christmas a happy time
1983 Restoration
1983 Evie – Hymns
1982 Evie – PA SVENSKA VOL II
1981 – The Very Best Of Evie (WORD – Release Through Word Austerila with Endeavour)
1981 – Unfailing Love
1980 Teach us your way
1980 – Evie Favourites Vol 1
1979 Never the Same
1978 A little song for my little friends
1977 Come on ring those bells
1977 JULENS KLOCKOR, RING! (Come on ring those bells SWEDISH VERSION)
1977 – Mirror
1977 TILL MINA SMA VANNER (SWEDISH VERSION Little Song Of Joy For My Little Friends
1976 Gentle Moments
1975 FAVORITTER (1971-73) (ENGLISH/NORWEGIAN MIX)
1975 Evie Again (2 Release album covers) WORD
1975 Du skulle vara med i sången (1975 You would be part of the song)
1974 – Evie (1st American Release)
1973 – Jag kommer till dig (1973 – I come to you)
1972 – Evie på svenska (1972 – Evie in Swedish)
1971 Evie Sings Gospel
1971 Evie Synger
1970s Everything Is Beautiful
1970 A song for Everyone (First Album)

I love Ron Paul’s latest commercial

DES MOINES, IOWA– Ron Paul’s presidential campaign released a comparitvely edgy new ad Monday that will air on local and cable networks across Iowa and New Hampshire. The spot touts Paul’s call to cut a trillion dollars from federal budget in his first year in office.

Played over a rock track, a man’s voice in the 30-second spot asks, “What’s up with these sorry politicians? Lots of bark, but when it’s showtime, whimpering like little Shih Tzu’s. You want big cuts? Ron Paul’s been screaming it for years. Budget crisis? No problem. Cut a trillion bucks year one.”

It’s a far cry from the other campaigns’ ads, which have taken more careful, traditional approaches in the early states.

Paul placed second in the latest Des Moines Register poll of likely Republican Iowa caucus goers, and could be poised for a strong showing in the state’s Jan. 3 caucus vote.