E!! The True Conservative Story™

Re-posted from The Corner without comment (or not, I guess, since saying there’s no comment requires a comment):

Lobbying Expenditures Found to Have Incredible Rate of Return on Investment   [Veronique de Rugy]

The Washington Post reports about this new University of Kansas study:

In a remarkable illustration of the power of lobbying in Washington, a study released last week found that a single tax break in 2004 earned companies $220 for every dollar they spent on the issue — a 22,000 percent rate of return on their investment.

This should make all bloggers, policy analysts, and other pundits wonder whether we are really using the right medium to get our ideas through.

Here’s a little two minute ditty I think you’ll all enjoy.  My complements to singer and song writer Kathleen Stewart and lyricist Steve Jones.

RedState lists a few things the Senate plans to add to the Stimulus anti-Stimulus bill.

Because Americans are calling for “More pork, please!”

“There exists in the economy and course of nature, an indissoluble union between virtue and happiness; between duty and advantage; between the genuine maxims of an honest and magnanimous policy, and the solid rewards of public prosperity and felicity; since we ought to be no less persuaded that the propitious smiles of Heaven can never be expected on a nation that disregards the eternal rules of order and right, which Heaven itself has ordained.”

– George Washington, First Inaugural Address, 1789

Source:  Founder’s Quote Daily, a service of The Patriot Post.  To subscribe, link to http://patriotpost.us/subscribe.php.

Check out this post on this report. 

Sum up:  The Institute for Liberty estimated the carbon emission stats for Inauguration Day.  And it would take the average American household about 60,000 years to match the carbon output of Obama’s supercalifrajilistic party.

I’ve been saying all week that in this age of high-def and live satellite feeds, it is ridiculous that between 1 and 2 million people will be going to D.C. to try to “witness” this event.  Most of them will not be able to get close access or even see Obama with their own eyes.  So what is the point?  It’s a collossal waste of time and energy for very little (if any) return.

Every American with a television or an internet connection can stay home and have a “front row seat” to the swearing-in, speeches, poem readings, parades, confetti showers and joyous weeping.

If they can even stand to watch it, which I doubt I can – knowing that at least $75 million in taxpayer funds will be spent on this one-day event.

An open letter to the newspapers of America by Orson Scott Card.  A little long but full of facts and well worth the read.

Here’s the opening:

I remember reading All the President’s Men and thinking: That’s journalism. You do what it takes to get the truth and you lay it before the public, because the public has a right to know.

This housing crisis didn’t come out of nowhere. It was not a vague emanation of the evil Bush administration.

It was a direct result of the political decision, back in the late 1990s, to loosen the rules of lending so that home loans would be more accessible to poor people. Fannie Mae and Freddie Mac were authorized to approve risky loans.

What is a risky loan? It’s a loan that the recipient is likely not to be able to repay.

The goal of this rule change was to help the poor — which especially would help members of minority groups. But how does it help these people to give them a loan that they can’t repay? They get into a house, yes, but when they can’t make the payments, they lose the house — along with their credit rating.

They end up worse off than before.

This was completely foreseeable and in fact many people did foresee it. One political party, in Congress and in the executive branch, tried repeatedly to tighten up the rules. The other party blocked every such attempt and tried to loosen them.

Furthermore, Freddie Mac and Fannie Mae were making political contributions to the very members of Congress who were allowing them to make irresponsible loans. (Though why quasi-federal agencies were allowed to do so baffles me. It’s as if the Pentagon were allowed to contribute to the political campaigns of Congressmen who support increasing their budget.)

Isn’t there a story here? Doesn’t journalism require that you who produce our daily paper tell the truth about who brought us to a position where the only way to keep confidence in our economy was a $700 billion bailout? Aren’t you supposed to follow the money and see which politicians were benefitting personally from the deregulation of mortgage lending?

Read the rest when you have the time.

Hat Tip:  The Venerable Mr. Crum (thanks, honey!)

Well, I am not personally acquainted with Leslie Carbone, but I’ve linked to her before and know she’s a true conservative, a very good writer, a prolific blogger and, perhaps most importantly, a Red Sox fan.

And I know she was abruptly and rather rudely disconnected from a White House conference call this week, after being invited by “The Office of Public Liason” to listen in on Barry Jackson, Assistant to the President for Strategic Initiatives and External Affairs.

She speculates that this post may be the reason she was banned.

Oh Yes, How DARE she tell the truth like that!

Seems to me the WH Liason office needs to do some decent Liasing – and at least apologize.

Beyond that, it really burns me that a few negative words about policy can get a blogger-journalist banned from WH conferences.

Please pass this on so it will spread like blogosfire.

(Hat Tip:  Blue Collar Muse)

An American Carol

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E!! Preview: 

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 I’ve seen a few of the trailer/clips (they were good), and if Kevin Farley is half as funny in the movie as he is in person, it will be worth the time and money.

The writer/producer, Myrna Sokoloff, also has a sharp wit – and is a Sweetheart of the first degree.

I had the pleasure of assisting both Kevin and Myrna at the Conservative Leadership Conference here in Vegas last month, and it was one of the highlights of my weekend.

Other cast members:

Kelsey Grammer

James Woods

Leslie Nielsen

Trace Adkins

Robert Davi

And a walk on role for Bill O’Reilly

If you are a conservative, you should see this movie both for fun and “on principle.”  (Maybe if it does well, we’ll see more conservative filmmaking in the future.)

Click here to see Kevin Farley on The View.

And click here to win director David Zucker’s fan contest for a trip to Washington D.C. over 4th of July, 2009.

I’m borrowing my post header from P.J. O’Rourke.  (VERY funny book if you have never enjoyed it.)

I do wish names would be Named, no matter the party affiliation:  who started and voted for all of the federal legislation, who harassed the lenders to conform, which lenders not only conformed but went above and beyond the call, and who made big bucks.

It won’t happen, of course, because they are all in bed together to some degree.

As Anne of Idaho quipped, “Someone needs to go to Washington and Wall Street and close down the whorehouses.”

In re: to my Dodd comments and in the interest of fairness to the Ds and Rs (and with a hat tip to Jim Treacher who posted this a short while ago):

The following letter was sent yesterday to Treasury Secretary Henry Paulson:

September 24, 2008

The Honorable Henry Paulson
Department of the Treasury
1500 Pennsylvania Ave., NW
Washington, DC 20220

Dear Secretary Paulson:

As you continue to craft a financial stabilization plan with Congressional policymakers, I wanted to once again urge you to consider a move that could be executed unilaterally by the Treasury Department: indexing the basis of capital assets to inflation for purposes of calculating gain or loss.

There is a body of legal opinion which holds that the Treasury Department has the power to define “cost basis” when taxpayers calculate capital gain or loss. To date, Treasury secretaries of both parties have chosen to define “cost” as nominal purchase price.

This creates a situation whereby an asset held for many years and later sold may generate a capital gains tax liability when much or all of that gain is purely from inflation. For example, a stock purchased in 1990 for $1000 and sold today for $1676 would face a capital gains tax liability on the $676 “profit.” But in reality, 100% of that “gain” is attributable to inflation.

If the Treasury Department were to re-define “basis” to discount the effects of inflation, it would have a timely and pertinent effect on the current financial challenges. Households and businesses would be able to sell assets, unlock liquidity, and pay a much lower level of taxes. This liquidity is badly needed by capital markets. Best of all, this can be done by you unilaterally, substituting Congressional permission in favor of mere consultation.

Sincerely,
Grover Norquist

– E!! says:  This is better than nothing, but I’d like it much more if we eliminated the capital gains tax altogether.  (Yes, I realize that is probably a pipe dream.  That being the case, Grover’s suggestion is excellent.)

With the takeover of AIG, the federal government has wangled its fourth major bailout and taken control of its very first insurance company.  

Both McCain and Obama have called the bailouts of AIG, Fannie Mae, Freddie Mac, and Bear Stearns “necessary measures.” McCain blames greedy Wall Street tycoons while Obama blames failed GOP policies.
 
Most sensible folks agree that the government’s implicit guarantee to Fannie Mae and Freddie Mac were a license to lenders to run rampant.  Fannie and Freddie were able to buy bundles of home mortgages and/or mortgage-backed securities in massive quantities without contemplation of the financial risks.

  
Some economists blame the regulators/regulations.  I disagree.  The financial industry is heavily regulated.  It was the government’s guarantee of Fannie and Freddie that emboldened lenders to put together dicey loans and encouraged undisciplined financial endeavors.

Government policy laid the foundation of the mortgage crisis more than three decades ago when Congress passed the Community Reinvestment Act of 1977. The law forced banks to loan money to low-income borrowers in order to meet the “needs” of the local community.

No worries, though.  The banks knew they could sell off those loans to Fannie or Freddie, and F & F knew they could buy those loans with little regard for the risk.

I’m reminded of the past weekend here in Las Vegas when a few enthusiastic friends (first time visitors) went out and hit the blackjack tables. 

A young man playing two hands was dealt four sevens.  A friend advised him to split and play four hands.  Pondering the risks, he hesitated – but the helpful friend offered to cover his losses and let him keep all the chips if he won. 

What do you suppose that young man did?

He behaved as anyone would:  he played all four sevens.  And, unfortunately, lost on all.

So it goes on the tables of Sin City.  So too, in Congressional corridors and bank board rooms. 

Last night in his interview with Bill O’Reilly, Obama said:

“If I am sitting pretty, and you’ve got a waitress who is making minimum wage plus tips, and I can afford it and she can’t — what’s the big deal for me to say, ‘I’m going to pay a little bit more.’ That is neighborliness.”

Well, Senator Obama, it WOULD BE neighborliness if you were doing it VOLUNTARILY, i.e. if free will were involved.

However, if the amount you pay is decided by the federal government, collected by the federal government, and distributed where and whence the federal government sees fit, and if you resent the hell out of it (as I do), then the act is NOT neighborliness but state-mandated SOCIALISM, otherwise known as the forcible redistribution of wealth, otherwise known as highway robbery by the Nanny State bandits of the world.

(I was pleased when O’Reilly called him “Robin Hood Obama.”)

Confession:

I love to predict political outcomes but so far have lacked the courage to post them on E!!  Today, I shed the shackles of fear and take a stand with some predictions…

Obama’s VP pick will be Evan Bayh.

McCain’s VP pick will be Romney (who will run in 2012 when McCain decides one term was enough).

McCain-Romney will win easily in November.

Hillary will win her party’s nominiation in 2012 after saying something like this to the Dems, “Hey Dummies!  Your arugula-eating, Maxim reading, Harvard grad Golden Boy got stomped in ’08, so stop messing around and nominate me.”

The Corner is speculating that Chet Edwards (not John) might be the pick.  Not a good idea due to the possible name confusion; don’t think it’s gonna happen. 

I think Obama should pick Hillary if he wants to have any chance of winning, but I’m not sure she would agree to take it or that he would be willing to tolerate her on the ticket – or in the White House on a daily basis. 

Geraldine Ferraro was on Hannity last night and said there is “no way” Hillary will accept the VP spot under Obama.  Others have said they think she would, if it were properly offered.

If I were a Hillary staffer, I would advise her to Just Say No to Obama and stick with the roll call vote at the convention, which even if she loses will remind people that she still has strong support in the Demcoratic base, and then in 2012 she can come back and say (to the Dems), “OK Dummies, your Golden Boy got stomped in ’08, so stop messing around and nominate me.”

National Review Online editor-at-large Jonah Goldberg just emailed me to point out that Reid could screw Lieberman on committee assignments, seniority, etc. 

(I suppose Lieberman might prefer a broken leg or two to being shut down in the Senate…)

One of today’s Roll Call alerts leads with this opener:  “With the controversy surrounding Sen. Joe Lieberman (ID-Conn.) speaking at the GOP presidential convention and his name being floated as a potential GOP running mate, Majority Leader Harry Reid (D-Nev.) maintains that there will be no consequences for the Independent-Democrat.”

What “consequences” would there BE…? 

Does this mean Reid has called off his privately funded band of mercenary thugs?  Or changed his mind about bribing a Senate dining room server to poison Lieberman’s lunch?

And is this anything like Jack Nicholson’s order (in the film A Few Good Men) that Private So-and-So was “not to be harmed”?

This morning on the drive to work, I heard Heidi Harris say (on talk radio KXNT) that Obama will be opening four more campaign offices in Las Vegas this week.  Not surprising now that McCain has a slight edge in the polls.

The good news for the Dems is their voter registration edge of about 60,000, many of whom were signed up by the Obama campaign in recent months.  In addition, the Las Vegas Sun reports that the Dems have trained 600 new precinct leaders in addition to the 1,000+ who were trained for the caucuses.

The bad news for Obama is that he has to overcome the senate’s most liberal voting record in a state that is unwaveringly pro-gun and has a deep aversion to tax hikes.  He’s also got a problem in re: to energy because the majority of Nevadans – in both parties – support creating more energy (drill, drill, drill) vs. cutting consumption.

The question is:  will those extra voter registrations and the opening of these new campaign offices make a difference for Obama in November – and should the NV GOP follow suit?

Republicans tend to be more reliable voters, so the GOP doesn’t always have to work as hard to get their peeps to the polls.  With numbers this close, though, McCain’s people may want to take a page from the 2004 Bush-Cheney playbook.  The Republican ground operation in Nevada was huge and Kerry was defeated by 21,500 votes.

Not sure that’s going to happen, though.  The McCain campaign seems to be focusing more on Ohio, Pennsylvania, and Michigan — states with larger numbers of electoral votes than Nevada – I guess thinking that if they can win 2 out of 3, they can win the whole enchilada.

Obama seems to be taking a different approach:  grabbing enough (other) Bush states such that losses in the big Midwestern states won’t mean as much.  Clearly, Nevada is one he wants in the bag.

There’s one in every crowd.  Or in this case, five…Republicans, that is, who are muddying the waters of the clearest issue facing the GOP this fall:  energy and offshore drilling.  In response to voter discontent over high gas prices and polling near 80% in favor of offshore drilling, the majority of GOP has (wisely) gone after the Dem anti-drillers in the House.  Enthusiasm for the cause has given new life to conservative candidates who were losing oxygen in tight races.

Enter Senators Lindsey Graham (R-SC), John Thune (R-SD), Saxby Chambliss (R-GA), Bob Corker (R-TN) and John Isakson (R-GA) who, along with five Senate Democrats, have announced that their ”Gang of 10″ wants a “sweeping” and “bipartisan” energy plan to break the ”stalemate.”  Sounds good, right? 

Not really.  The bill says new production on offshore federal lands would be left to the state legislatures, and then in only four coastal states. The regulatory hoops and hurdles are huge.  The bill prohibits drilling within 50 miles of the coast — keeping some of our most potentially productive areas closed.  ANWR would still be  a no-go. AND the plan contains $84 billion in tax credits, subsidies and handouts for alternative fuels and renewables…to be paid for (drum roll) by raising taxes on oil companies!

Boys, we’ve been over this umpteen times:  we need to open up all lands in all coastal states, keep the red tape to a minimum, drill wherever the oil is, tap ANWR, and get it straight that raising taxes on oil companies means raising the price of gas for consumers, because Big Oil will just pass the hikes down to the man at the pump.

These five Republicans need to re-think their agenda and quick, before November voters hit the ballot booths.  If you wish to express your thoughts and feelings to any of the senators, here are links to their contact pages:

Kent Conrad (D-ND)
Saxby Chambliss (R-Ga.)
John Thune (R-S.D.)
Lindsey Graham (R-S.C.)
Blanche Lincoln (D-Ark.)
Mary Landrieu (D-La.)
Johnny Isakson (R-Ga)
Bob Corker (R-Tenn.)
Mark Pryor (D-Ark.)
Ben Nelson (D-Neb.)

Not content to let Eric & Allen & Friends have their Happy Ending, Progress Illinois took the Open Left talking points about #dontgo that Eric had debunked on his blog earlier and ran it as fact without doing any checking.  From the Progress Illinois site:

Let’s be clear. This is a “movement” that originated at the highest level of powers in Washington. It’s a movement that, if successful, would benefit large oil companies and their rich executives far more than the average American consumer. It’s a movement with protests populated by paid staffers from industry-funded organizations. In short, there is nothing “grassroots” about it.

ROFL

Anyone who knows Eric “the Libertarian” Odom knows he is as anti-establishment as it gets.  He isn’t In with the Insiders in D.C. in any way, shape or form.  I’ll grant that Eric’s day job is a paid consultant for Sam Adams Alliance, but Eric blogs and Twitters on the side (and only WISHES he got paid to do it). 

Eric and Allen are two very enterprising individuals who threw up the Twitter tag, purchased the two #dontgo-affilliated domain names and built the dontgomovement.com website on their own dime and on their own time.  They were not paid by Big Oil fat cats, mythical “industry-funded organizations,” or Newt Gingrich.  The huge influx of Twitterers and bloggers happened because a lot of good citizens are angry about the lack of Congressional action on energy and were/are interested in what was/is happening on on the House floor…and the Twitter feed was/is the best way to follow the play-by-play.

Isn’t it interesting that the Left just cannot FATHOM the concept of a committed activist who isn’t getting paid and/or receiving some personal benefit for championing a cause?  Seems to me their accusations and protests are very revealing.  One wonders how many staffers at Open Left, Progress Illinois, or MoveOn.org would spend their own time and money trying to get something worthwhile done.  Not too many, I’m guessing.

So, anyhoo, just know that Progress Illinois got the story Wrong.  Not surprising, considering they never bothered to contact Eric and took their talking points from an outdated, debunked post on Open Left…which, by the way, continues to get the story wrong.  To borrow Open Left’s oh-so-sophisticated Slam-fest sum-up which simultaenously insists #dontgo is (1) backed by “the highest levels of power in Washington” and (2) “insignificant”:  whatever!   If Dontgomovement.com is so insignificant, why is the national media all over it – and why are you guys still writing about it?

(For those of you who do not know the whole back story, you can read my post from yesterday and/or catch Mary Katherine Ham’s piece in the Washington Examiner.)

When gas prices fell below $4.00 a gallon, did anyone else feel a fleeting moment of happiness, quickly followed by this thought:  ”Hey, how is it that I feel GOOD about paying $3.85 a gallon for gas?!” 

The fact is, we’ve been gouged into thinking that anything under $4.00 a gallon is good.  To bring yourself back to reality, see this graphic.  To do something about it, go here.

I just love a good David-and-Goliath story.  And as a blogger at Blogivists and friend of Eric Odom, I’ve got a front row seat to a good one.  Strap in and hold on tight as we go on a whirlwind tour of the recent refusal of House Republicans to adjourn without voting on offshore drilling, the #dontgo Twitter tag movement, an attempted sabotage of #dontgo by MoveOn.org and the subsequent launch of a hot new conservative website.  The story goes like this:

Two Fridays ago, Madame Pelosi ajourned the House over GOP objections.  Dems sprinted for the door like kids on the last day of school.  The mics were silenced; the lights were unlit; the CSPAN cameras were killed.  Even so, a few GOPers who wanted a vote on offshore drilling refused to leave the Floor.  Rep. Culberson (R-TX) and Rep. Hoekstra (R-MI) started Twittering (mini-blogging) while Rep. Boehner (R-OH) addressed those still present and Rep. Blunt (R-MO) talked to reporters in the press gallery.

Meanwhile, back in Chicago, a couple of regular guys – Eric Odom and Allen Fuller - threw up the Twitter tag “#dontgo” so the mini-blog reports and emails coming in could be easily searched/tracked.  The tag was chosen to support the GOP hold-outs, as in “don’t go until something is done on energy.”  Reps and staffers started using #dontgo to call the action.  Though the CSPAN cameras were dead, some video of the goings-on was captured on Rep. Culberson’s cell phone and broadcast on qik.com. 

Word began to spread.  MoveOn.org got wind of the Twitter feed and started spamming with irrelevant messages – but rather than jamming #don’tgo, all the spam pushed the tag to the top of Twitter’s list.  (Rob Neppell has since created a low-on-spam version of the Twitter Stream so it is virtually spam free.)

As the Twitter community chirped on, Fuller purchased the domain name dontgo.us; Odom installed WordPress, created some graphics, and wrote some copy and petition (sign here!); and the two took the site Live and began sending out links.  Media forces like Media Lizzy helped Eric and Allen spread the word.  On Tuesday morning, encouraged by the momentum, the duo threw up a jazzier replacement website called Dontgomovement.com to serve as hub.  Thousands of hits started coming in and within a few hours, Eric was contacted by reporters from several major media outlets, including CNN.

The CNN story went live just after the site was opened up, and the story was followed by The Next Right, Red State, Politico, Michelle Malkin, HotAir, Washington Examiner, and scores of bloggers. This wave of attention sent more than 60,000 unique visits to the new site within 24 hours.  Eric has been swamped with emails and already has a good-sized (10,000) mailing list compiled.  The e-mail RSS subscriber list is about 1,200 strong and the #dontgo Twitter Army marches on.

And so it came to be that a couple of fast-on-their-feet guys planted a Twitter tag on Friday and by Wednesday, their new website had been slingshot into national media attention.  Bloggers and Twitterers and web publishers should take a page from that playbook.  This is the “New Media” at its best:  alert, agile and ready to fight the Giants.

AFF is on Reid’s case again, this time via the radio airwaves in Nevada.  Here’s part of the transcript:

How’s Harry Reid using his position as Majority Leader to help lower gas prices?  Reid and Congress just took a five week vacation – instead of working to lower gas prices. Congress found time to pass National Apple Month, but Reid continues to block votes to explore for energy in America.

America has huge energy reserves, but Congress has placed up to 85 percent of them off-limits. Reid repeatedly blocks efforts to lift the moratorium on safe exploration off our coasts. Reid opposes exploring a tiny portion of Alaska – less land than the Las Vegas airport – and he’s against developing our massive oil shale reserves.

Call Harry Reid: 702-388-5020. Tell him his vacation should end and the Senate should vote on S. 3202.”

Hat Tip:  PolitickerNV

The Las Vegas Sun says Jon Porter’s (R-NV) recent energy petition is less about his tightly contested race with Democratic challenger Dina Titus and more about an overall Republican strategy to insert GOP-backed energy proposals into the House floor schedule over the past 7 weeks. 

Not sure the Sun has it quite right.  It’s a political axiom that the more birds you can kill with one stone, the better.  

The Sun quotes a Republican strategist stating that “making energy No. 1 was a no-brainer.”  So was having Porter push forward one of the petitions.  It achieved the GOP’s agenda in D.C. and sent a message to Nevada voters that Porter is on the right side of the issue.  Hope it’s enough to save Porter’s butt because – although he’s not as conservative as some of us would like – Dina Titus is an incurable taxaholic.  Nevada does not need her in Washington.

Some House Republicans are still carrying on their protest on the floor of the House.  The White House says they will not answer the call for a Special Session because the majority leadership still sets the agenda and no one can force them to do an up-down vote on energy/offshore drilling.

Call, email or write to your House Democrat(s) now and demand that they return to D.C. and put offshore drilling (and other sound energy policy) to a vote.

Here’s some video footage from the press conference that followed the Republicans’ attempt to reconvene the House on Friday.  At one point it was stated that the Republicans are not going home until the Dems agree to re-adjourn and vote on energy – or until W. orders a Special Session.  I hope they stick with it.  Nobody in Congress has any business taking a vacation until the People’s business is done.

Pelosi & Pals adjourn, having failed to schedule a vote to allow offshore drilling (11:23 a.m.)  They turn off the lights, kill the mics, and head home.

Minority Leader John Boehner (R-OH) and other GOPers indignantly opposed the motion to adjourn.  A few GOPers stayed on the floor and continued to debate.  As word spread, the crowd on the floor began to grow.

Dem aides were steamed at the “stunt” and had reporters kicked out of the Lobby.  Capitol PoPo were also busy kicking people out of the press gallery but stopped when Minority Leader Roy Blunt (R-MO) went up to talk to reporters.  Blunt’s office sent out a message asking all Republicans still in town to come to the House floor.

The Dems turned out the lights (again).

The Republicans sent out word that they were looking for a bullhorn and also sent aides out to round up members to come to the floor.  Shadegg started typing random codes into the chamber’s PA system and accidentally hit the right code to turn on the microphones (cheers!) but then they subsequently went off again (groans).

Members were pacing the floor, making speeches, standing on chairs.  Visitors were cheering loudly.  At one point Manzullo (R-IL) gave a rousing speech and brought the crowd to its feet.  Applause and cheering echoed in the chamber.

Rep Nunes (R-CA) crowed, “I am a Democrat and here is my energy plan.”  He then paraded around the House floor holding up a picture of an old VW Bug with a sail attached to it.  (LOL)  More cheering.

At 5:00, Tom Price (R-GA) announced the end of the protest and led the chamber in a round of “God Bless America.”  Assembled visitors, aides, souriest, and members gave a standing ovation.

Question:  Since the C-SPAN cameras were off, didn’t anyone think to try to sneak in a video tape so we could have some fun watching the footage on You Tube and/or FNC?

I am always amazed when politicians get caught digging greedily in the candy jar of some special interest, like this Ted Stevens scandal.  Hubris makes one bold I guess…if by bold you mean Dumb.

This McCain campaign ad is a must see.  LOL

The Hill is reporting that the Senate just passed the 2008 Fannie & Freddie Prop Up bill (72-13).  The monster housing bill will now go to the White House for W’s Johnny Hancock.  For what it’s worth, all 13 ’no’ votes were GOP-ers.  Senator DeMint (R-SC) had delayed the bill over objections to F & F lobby rights, but in the end the R’s struck a deal with the Dems and passed it.  

The bill will allow re-fi’s of up to $300 billion in distressed mortgages, give tax breaks galore in order to help the market, tighten future oversight of F & F – and (this is the real kicker) give the Treasury temporary authority to approve an unlimited line of credit for F & F.  Now isn’t that sweet?!  We, the taxpayers, are going to foot the bill for a bottomless pile of cash for two government-sponsored enterprises being run by people of questionable judgment.

If you wish to see this in a positive light, just read the first paragraph of today’s Washington Post story which says, “In a rare weekend session, the Senate today ended months of legislative wrangling and gave final approval to a sprawling housing bill that seeks to halt the steepest slide in home prices in a generation, rescue hundreds of thousands of families from foreclosure and restore confidence in the nation’s largest mortgage finance firms.”

(GAG!!)

Why-oh-why is it the job of Congress to interfere with the natural forces of the market, rescue people from foreclosure because they financed over-priced houses with adjusable-rate mortgages they now cannot afford, and restore confidence in two companies that probably deserve to fail due to poor management?  Where in the Constitution does it say that the State is responsible for protecting its citizens from the natural consequences of their own poor judgment?!!

The Nanny State gets fatter while our dependence upon her grows…

Here’s a little tip for all you aspiring extortionists:  when attempting to shake down your target, don’t paste your signed demands to his door – and don’t have the document notarized at the local UPS Store.

Send your thanks for this sage advice to former Nevada Democratic Party official and campaign consultant Michael Zahara in care of the Clark County Jail in Las Vegas, NV.  Zahara was arrested this week on charges that he tried to extort $5,250 from his former boss, Nevada Assembly candidate Sanje Sedera. 

Zahara taped a notarized letter to Sedera’s door threatening to tell Sedera’s family, business associates and family members that Sedera, a former resident of Sri Lanka, had committed mortgage and IRS fraud and was involved in “terrorist rebel activity.” 

Sedera, who has been a mortgage broker in Las Vegas since 1996 and who dropped out of the campaign to help with relief efforts in Myanmar, contacted police immediately after finding Zahara’s missive taped to his front door.  Sedera says the claims are baseless.

See more details in this Las Vegas Review Journal story.

Here’s a strange fascination for this election season:  The Arizona Democratic party is using one of the GOP’s own to shred U.S. Rep John Shadegg (R-AZ) in this new campaign ad.  Set to the classic David Bowie song “Changes,” the ad includes quotes (and provides sound bytes) of controversial statements recently made by U.S. Congressman Dean Heller from Nevada (R-Carson City).

In a segment which first aired on KTVK-Channel 3 on March 3, Heller re-stated an old mantra about the men who go to D.C. only to become corrupted:  “Instead of changing Washington, Washington changed us.”  Then, on July 8 in the Las Vegas Review Journal, Heller expressed concern over the influence of trial lawyers, environmental lobbyists, and labor unions in Washington D.C. and said “its’ time to clean house in the Republican party” and “the next couple election cycles are going to do that.”

When first reported, Heller’s comments were seen either a gaffe or a bold move – depending on the hearer.

The Daily Kos snarked, “Dean Heller’s foot, meet Dean Heller’s mouth.”  Others in D.C. agreed and quickly came out against Heller’s remarks.

But Chuck Muth, one of Nevada’s best-known conservative pundits and a constituent in Heller’s district, supported Heller’s comments without equivocation. Muth blogged, “Longtime liberal columnist Michael Kinsley famously defined a “gaffe” in politics as “when a politician tells the truth.”  If you accept that definition, and I do, then Nevada Republican Rep. Dean Heller committed a gaffe of canyon-sized proportions this week.  I hope he keeps it up.”

As Muth told the Las Vegas Review Sun, “[Heller] was the first one to voice publicly what an awful lot of conservatives around the country are saying.”

Some in D.C. agree.  As reported here by PolitickerNV, The Club for Growth said “Heller is spot on” and cited cases in which Republicans are losing seats in special elections.  Spokesperson Soloveichik said, “We’re seeing a lot of housecleaning because people are disenchanted with what Republicans are doing.”  Referring to corruption scandals and lamenting that Republicans can no longer be taken seriously as stewards of fiscal conservatism, Soloveichik said, “They’ve abandoned their principles.”

My three cents?

I’ve been getting quite a few comments and emails from frustrated conservatives who believe money and power has corrupted many Rupublicans in Washintgon D.C. and that we should “throw the bums out.”  If their sentiments are shared, Shadegg and/or other Republicans may well have cause for c-c-c-Concern come November.

I promise to give up all shameless self promotion when I’m a famous nationally syndicated writer/editor.  But for now, I’m tickled to announce that yesterday’s E!! post on Dem/Progressive want ads for campaign help (and the lack of any for the GOP) in Nevada got the attention of Politico @ Real Clear Politics here.

!!

Did anyone else feel the urge to choke the living daylights out of Chuck Schumer this week?  If not, you must have missed the Senate floor speech in which he re-opined the tired line that if only the Saudis would produce “half a million barrels more oil a day, the price [of oil] would come down a very significant amount.” 

Why does this statement make my blood pressure rise and my fingers twitch?

Because the tiny impact area within ANWR – a size ratio equivalent to a dime on a 4 x 8’ table – is projected to produce ONE MILLION barrels a day, every day, if only we would drill.  And because Schumer’s (true) statement that a greater immediate supply would reduce prices falls short of saying what is also true:  that even the ANTICIPATION of a greater FUTURE supply would decrease prices in the Now.

Schumer’s other infuriating comment – that more drilling would “stop the speculation that keeps driving up the price of oil” – also missed the proverbial mark.  Speculators wouldn’t “stop” if the Saudis drilled more, because speculation in free markets never stops.

Instead, speculators (also known as investors, also known as buyers and sellers, also known as people trying to earn money for their families and futures) would anticipate the increased oil supply, begin to sell for less, continue to drop prices as volume increased, and thus reverse the current market trend of charging a per barrel premium for what is currently a too-scarce commodity. 

Perhaps  “speculation” would then stop being a dirty word and be seen as what it really is:  the natural response of the market to the forces of supply and demand.  

For those not convinced that these tenets of ECON 101 are true, please note that we’ve already seen the evidence.  As Larry Kudlow reported the other day on NRO, oil prices dropped $9 per barrel the day after the offshore drilling moratorium was lifted by the president.  This is no coincidence.  It is case-and-point and perfectly illustrates what speculation really IS – not a crime against humanity, but the market doing what markets tend to do:  try to anticipate the future and adjust.

It is maddening that the same people who want to spend billions on economy-choking “climate change” measures that might (MIGHT!) reduce temperatures by one quarter degree over the next one-half century cannot see the wisdom of opening a tiny piece of ANWR in return for a sure thing over the next one to ten years.

Gallup is reporting the lowest Congressional job approval rating since Gallup started polling 34 years ago.  This dismally low number reminds me of…hm…Something…oh Yes!  It’s Senate Majority Leader Harry Reid recently saying the following in re: to comments about a possible presidential veto by Senator Mitch McConnel (quoted from Mark Hemingway’s June 30 column @ National Review Online):

SEN. HARRY REID (D-NV): “A veto by the President? Gee whiz, who would be afraid of him? He has a 29-percent approval rating. How in the world could anybody be afraid of him vetoing a bill?  I cannot imagine why anyone would care about that. . . .  I say to my friend and I say I don’t know how many people are up here for reelection, but I am watching a few of them pretty closely, I say to all these people who are up for reelection:  If you think you can go home and say, I voted no because this weak President, the weakest political standing since they have done polling, I voted because I was afraid to override his veto — come on.”

So, Senator Reid… If a 29% presidential approval rating renders W. “weak,” what does a 14% approval rating render you and your feeble Congressional pals?

From the website Americans for Tax Reform: 

Cost of Government Day (COGD) is the date of the calendar year on which the average American worker has earned enough gross income to pay off his or her share of spending and regulatory burdens imposed by government on the federal, state and local levels.

Cost of Government Day for 2008 is July 16.  Working people must toil on average 197 days out of the year just to meet all costs imposed by government.  In other words, the cost of government consumes 53.9 percent of national income.

How about some suggestions for how we can all celebrate the Day we stop feeding our income to the Insatiable Monster that is Government?  Talk sarcastically amongst yourselves and report back.

Lately I’ve been reading a lot of commentary suggesting that Conservatives need to get angry about the frightening Leftward socio-political swing our country is in danger of taking no matter who wins the election this fall – and to do/say something about it.  For a little taste of what this might look like, click below for my recent column/rant in Liberty Watch Magazine:

 http://www.liberty-watch.com/volume04/issue04/trueconservative.php

Each summer the ancient Greeks would sacrifice a brown dog to appease Sirius, the Dog Star, believing it to be the source of the hot, oppressive weather.  Known as caniculares dies or “days of the dogs,” high summer was thought to be a time of evil when the “seas boiled, wine turned sour, dogs grew mad, and all creatures became languid, causing to man burning fevers, hysterics, and phrensies” (Brady’s Clavis Calendarium, 1813). 

Though animal sacrifices to imaginary gods are no longer in vogue, it seems we are still prone to blaming far-away stars for our troubles.  The pains of the current energy shortage have been attributed to OPEC, international futures traders who conspired to drive up oil prices, and foreign forces driving down the U.S. dollar.

The true cause of our decline can be found much closer to home:  in the stagnating halls of Congress.  Our Legislators have failed to open domestic lands and seas to energy exploration, drilling, and new refineries and so billions of barrels of domestic oil are being kept off the market.  As a result, gas has now reached $5 a gallon in some parts of the country.

Arguments that it would take ten years to bring new supplies online sound hauntingly familiar.  Hm…  Oh yes:  it’s exactly what was said ten years ago when the nation last debated this issue.  The short-term thinkers won the last round; will they do so again now?

Critics also argue that we should be focusing on renewable energy sources like solar, wind, and bio-fuels.  Fine, yes, good.  But solar power and windmills can’t take the place of oil in the U.S. economy, and the ”encouragement” (mandates and massive subsides) of bio-fuels has driven up food prices so that we are now paying more at the grocery store as well as the gas station.

Increased domestic oil production is part of the answer.  Our technology enables us to drill with very little impact on the environment (and certainly in more ecologically friendly ways than many of the nations from whom we’re currently buying oil).  Let’s do it, then, while also developing techonologies that might one day enable us to power our nation without oil.

As for the cap-and-trade and windfall profits tax bills the Democrats tried to push through the Senate, we can thank our lucky stars they didn’t pass.  What worries me is what may happen when the dog days of summer are gone and the cool winds of November come a blowin’. 

If the GOP loses contested Senate seats and we elect a president who favors the artificial rationing of energy despite current shortages and high prices, we may well find ourselves wishing on a star for the good ol’ days of $5 a gallon gas.       

In the interest of letting Senator Ensign speak for himself on his energy-efficiency tax credit amendment, you can click here for the full text of his Senate Floor Speech (given Thursday).

For those of you who don’t have time to read all 1,216 words, here’s the sum-up:

Ensign refers to the high cost of energy and says we need smart policy for both our economic and national security.  He claims his amendment offers tax credits that will encourage more development of alternative, renewable energy (solar, wind, and geothermal).

In answer to those who say his bill has nothing to do with housing, Ensign claims his bill will help create between 100,000 and 200,00 jobs and encourage billions of dollars worth of investment, which will strengthen the economy including the housing market.

Ensign also says the tax credits will reward people who produce their own electricity by going solar, who build or buy an energy-efficient home, or who buy energy efficient appliances…and says these are all related to housing.

In re: to the “not paid for” objection, he claims there are “$2.4 billion in tax-related items that are not paid for in [the housing] bill” and that he therefore challenges the Democratic leadership’s claim that his energy amendment won’t pass in the House. 

Ensign asks how the Democrats expect their “not paid for” housing bill to pass if the House is truly not accepting bills that aren’t paid for.  (Indeed!) 

Finally, Ensign says he is pushing for this now because (1) the private financing of solar, geothermal, and wind power projects is critical to their development, (2) his proposed tax credits will allow private businesses to predict and rely on their return on investment, and therefore (c) investor confidence will immediately rise and more clean/renewable energy projects will happen sooner.

In an unexpected move this week, Nevada Republican Senator John Ensign single-handedly delayed a vote on the Housing Stimulus Bill.  His motive?  Many are saying Ensign’s demand that a renewable-energy tax credit amendment be piggybacked onto the housing bill is sheer stubbornness over a pet project. But at least one housing industry insider has a different take, and his answer may surprise you.

As reported by Reuters, Democratic Illinois Senator Richard Durbin said the Housing bill was being hindered because of Senator Ensign’s “insistence on an unrelated amendment.”  The bill’s chief architect, Connecticut Democratic Sen. Chris Dodd of the recent Doddy-wide VIP Mortgage Scandal, said, “one United States senator has decided we shouldn’t do anything but HIS bill.”  Senate Majority Leader Reid was displeased with the delay and applied pressure by threatening to extend the Senate session into the weekend. 

Lobbyists for the Housing Bill chimed in as well.  Yesterday afternoon, I spoke to Ken Gear, Vice President of Government Affairs for Pulte Homes, Inc., one of the nation’s largest home builders.  Mr. Gear said, “This bill is too important for the country to be playing politics with.  The market continues to deteriorate and the Senate needs to work in a bipartisan fashion to get it done immediately.”

When asked whether he was accusing Senator Ensign of delaying the housing bill for political reasons and what those reasons might be, Mr. Gear declined to elaborate.  I spoke to another high-level industry insider who was willing to say more if I would agree to withhold his name:

“This isn’t about housing.  Ensign’s play to attach an energy efficiency tax credit amendment to the bill is purely political because the tax credit is going to cost $8 billion to implement but is not “paid for.”  The House has said it won’t pass any bill that doesn’t specify where the money will come from, and Ensign’s amendment doesn’t include this, so the Democratic leadership knows the bill won’t pass.  

Ensign knows this, too, but he’s trying to score political points by forcing the Democrats to vote against an energy efficiency bill in an election year in which energy policy is going to be a huge issue.”

Stand by for Part Two of Our Series: “Method or Madness: John Ensign Stalls Housing Bill Over Energy Amendment”