Friday, March 26, 2010

Quick Hitters

I was looking around for news items today that demonstrate the idiocy of the current administration and found a target rich environment. (Apparently, so have the North Koreans.)

1. Health Care Costs Already Underestimated

HotAir breaks down the impact of the removal of a subsidy to corporations that was used to keep retirees on the corporate prescription drug plan. The Congress counted as savings towards the cost the elimination of this subsidy; but businesses are going to eliminate the subsidy and push their retirees on Plan D medicare drug plan, increasing those costs, voila, increasing deficits.

2. Obama Makes Mortgage Mess Worse

H/T again to HotAir. The administration demonstrates its economic illiteracy by demanding that banks allow unemployed borrowers to not have to pay their full mortgage payment. This will encourage lending to help the recovery how? With lenders losing money on existing loans, and the chance that any particular borrower will get reduced payments because they lose a job, new lending will be harmed. This will not stop the problem of underwater borrowers, who fall into about three equal categories: Those for who will eventually default, no matter what help they receive; those who will work their way out of the mess on their own; and those who might be helped.

3. Humiliating the Prime Minister of our only really ally in the Middle East.

Netanyahu was in Washington this week for talks with Obama; but was treated shabbily by a President willing to bow to Saudi royals and high five Chavez. Not only was there no photography allowed of the Israeli PM, but apparently, the Israelis were left to cool their heels for an hour while Obama had dinner, put his kids to bed, who knows?

4. The President doubles down on the lies he told to sell health care. (From the New American, this one just writes itself.)

If Republicans want to run on a platform of repealing the health care reform Barack Obama signed into law on Tuesday, the President is encouraging them to "go for it!" "They're actually going to run on a platform of repeal in November," Obama told a gathering of about 3,000 yesterday at the University of Iowa field house in Iowa City (left). "And my attitude is, go for it! If these congressmen in Washington want to come here in Iowa and tell small-business owners that they plan to take away their tax credits and essentially raise their taxes, be my guest,"
Go for it? I think we will. The Tea Party will be working hard to do just that. Mr. President what's your estimate of the number of seats your party loses in November?

1 comment:

  1. The lies will work until the whole thing unravels. After that, it will be the Mother of all Political Fights as the Democrats try to blame profit for the mess they're creating.