Monday, November 08, 2010

Divided Congress Bodes Well for Economy

If the recent past is any indication, the American economy will prosper in the next few years with the new Congress divided between the two parties.


“Since 1970, the levers of federal government — the White House, Senate and House of Representatives — have been in the hands of one party, whether Republican or Democrat, 30 percent of the time,” observes Bloomberg News columnist Kevin Hassett.  “By most any measure, the U.S. economy has been healthier the other 70 percent of the time.”
Since 1981, median GDP has increased 3.3 percent in years when Washington was divided — as it will be now with Republicans in control of the House and Democrats controlling the Senate and White House — and 2.8 percent when it was unified.
Median unemployment has been 6.1 percent under one-party rule since 1970, and 5.7 percent when rule is divided. Since 1993, the spread is even greater — 6 percent compared to 4.9 percent.
Divided rule has proved a boon for the stock market as well. Since 1970, the Standard & Poor’s 500 Index has risen at a median rate of 13.5 percent per year when Washington is divided, and just 9 percent when it is unified. Since 1993, the spread is again greater — 19.5 percent compared to 9 percent.
Hassett, director of economic policy studies at the American Enterprise Institute and an adviser to John McCain in the 2008 presidential election, offers two possible explanations for the phenomenon:
  1. “Under the ‘politicians are idiots’ view, divided governments tend to be gridlocked, and gridlock is good,” he writes. “A paralyzed government is a boon to the economy because the changes that politicians contrive tend to be harmful.
  2. “Under the ‘politicians are sensible’ view, divided governments produce better lawmaking because only sensible policies can achieve the necessary bipartisan support. When government is controlled by one party, common sense is cast aside as those in power use their muscle to reward friends and punish enemies.” 


Thursday, November 04, 2010

Wanna bet the $200 million a day is real?

It's all over the news today: Obama's trip to India will cost $200 Million a day.  Of course, Obama and all his supporters are saying "A Gross Over-Estimation", "the numbers reported have no basis in reality".  Let's see what actually happens.  I for one won't be surprised to find the real number are actually close to $200 Million a day.  Of course this wouldn't be the first time that Obama has claimed that something isn't true when it really is.  Think ObamaCare...


It's "We the People", not "Me the President"

Tuesday, November 02, 2010

You Scare Me - An Open Letter to President Obama - Lou Pritchett


Dear President Obama:

You are the thirteenth President under whom I have lived and unlike any of the others, you truly scare me.

You scare me because after months of exposure, I know nothing about you.

You scare me because I do not know how you paid for your expensive Ivy League education and your upscale lifestyle and housing with no visible signs of support.

You scare me because you did not spend the formative years of youth growing up in America and culturally you are not an American.

You scare me because you have never run a company or met a payroll.

You scare me because you have never had military experience, thus don't understand it at its core..

You scare me because you lack humility and 'class', always blaming others.

You scare me because for over half your life you have aligned yourself with radical extremists who hate America and you refuse to publicly denounce these radicals who wish to see America fail.

You scare me because you are a cheerleader for the 'blame America' crowd and deliver this message abroad.

You scare me because you want to change America to a European style country where the government sector dominates instead of the private sector.

You scare me because you want to replace our health care system with a government controlled one.

You scare me because you prefer 'wind mills' to responsibly capitalizing on our own vast oil, coal and shale reserves.

You scare me because you want to kill the American capitalist goose that lays the golden egg which provides the highest standard of living in the world.

You scare me because you have begun to use 'extortion' tactics against certain banks and corporations.

You scare me because your own political party shrinks from challenging you on your wild and irresponsible spending proposals.

You scare me because you will not openly listen to or even consider opposing points of view from intelligent people.

You scare me because you falsely believe that you are both omnipotent and omniscient.

You scare me because the media gives you a free pass on everything you do.

You scare me because you demonize and want to silence the Limbaughs, Hannitys, O'Relllys and Becks who offer opposing, conservative points of view.

You scare me because you prefer controlling over governing.

Finally, you scare me because if you serve a second term I will probably not feel safe in writing a similar letter in 8 years.

Lou Pritchett