Daily Archives: October 14, 2013

The only “settled law” in ObamaKare is that unions get their way

Fee imposed by ObamaKare is waived for labor unions. It’s minor, it’s trivial and it’s also illuminating: no negotiating with Republicans on any part of what the regressives have been howling is “settled law”, but when the unions come knocking Harry Reid flings open the door – “waivers? Yeah, we got that.”

UPDATE: Democrats now insist on end of sequester as condition for reopening the government. Keep it shut.

A two-week-long partial government shutdown originally blamed on a conservative Republicans’ demands for Obamacare to be defunded is now stalling because liberal Democrats want to see an end to planned spending cuts, it emerged today.



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Contributions from readers

Peg Kaplan on what’s happened to our country.

The San Francisco Chronicle published an article yesterday about how to take advantage of federal Obamacare subsidies, with the ominous headline “Lower 2014 income can net huge health care subsidy.”

“You can also consider reducing your 2014 income by working just a bit less.”

This, right here, is the toxic essence of the welfare state. It’s already been proven over and over that for the lower classes, welfare incentivizes permanent dependence: Since one gets more money receiving a raft of federal entitlements than one would get earning a salary at a low-level job, it’s a rational economic decision to remain unemployed, on purpose. Which millions of Americans do, generation after generation, creating a permanent underclass that only consumes the common treasury without ever contributing anything to it.

What Obamacare does, as demonstrated by this eye-opening article, is bring the same economic disincentive to the middle class: It is now a rational economic decision for the average American to earn less money. And to earn less you must work less, and when you work less, you contribute less to the common good.

And related, Libertarian Advocate provides an apt illustration:



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Well what would you expect? Looters loot


The anti-Walmart: peace and serenity reign at Cuban grocery store

The anti-Walmart: peace and serenity reign at Cuban grocery store

WalMart, responding to the EBT failure, lets customers buy food on their welfare cards despite being unable to check balances. Mass thievery results.


Shelves in Walmart stores in Springhill and Mansfield, LA were reportedly cleared Saturday night, when the stores allowed purchases on EBT cards even though they were not showing limits.

Lynd explained the cards weren’t showing limits and they called corporate Walmart, whose spokesman  said to let the people use the cards anyway. From 7 to 9 p.m., people were loading up their carts, but when the cards began showing limits again around 9, one woman was detained because she rang up a bill of $700.00 and only had .49 on her card. She was held by police until corporate Walmart said they wouldn’t press charges if she left the food.

Lynd says at 9 p.m., when the cards came back online and it was announced over the loud speaker, people just left their carts full of food in the aisles and left.

“Just about everything is gone, I’ve never seen it in that condition,” said Mansfield Walmart customer Anthony Fuller.

[Walmart shopper] Evans believes it was natural human reaction that led people to fill up their carts during the glitch, but Walmart shoppers Stan and Judy Garcia feel very differently. “That’s plain theft, that’s stealing that’s all I got to say about it,” said Garcia.

We raise five generations as welfare – dependent moochers, it’s hardly surprising that the latest crop would see no distinction from stealing from a private party and waiting for the government to steal it first and then pass it on to the shiftless. These people just eliminated the middleman.


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What caused the home mortgage collapse?


Chicagoland Affordable Housing Plan

Chicagoland Affordable Housing Plan

Certainly not the repeal of Glass-Steagall, as Democrats would have it.

Five years after the housing and financial meltdown, self-styled progressives are still peddling their pseudoexplanation: that it was largely the fault of the 1999 repeal of a provision of the New Deal–era Glass-Steagall Act, which mandated the separation of commercial and investment banking. This tale is favored by Sen. Elizabeth Warren and others of her ilk, who hold the rather absurd view that the United States had free banking between the 1980s and the passage of Dodd-Frank in 2010.

One wonders if Warren et al. ever bother to look at the facts, particularly the passage of Glass-Steagall and what, if any, role the repeal actually played in the crisis. Since they never say anything specific, it’s hard to know if this is anything more than an incantation designed to blame the “free [sic] market” and to bolster their case for bureaucratic management of our lives (which they call “the economy”). It takes Herculean ignorance or dishonesty to claim that America had free banking before 2010. Hence, this is a classic confirmation of my observation that no matter how much the government controls the economic system, any problem will be blamed on whatever small zone of freedom remains.

The crisis began with the housing collapse, a result of government encouragement of unsound lending practices. Financial firms took too much risk with mortgage-backed securities, in part because of moral hazard engendered by government guarantees and partly because bond rating firms were not as independent as was once thought. The limited liability that the investment banks gained when they became corporations may also have amplified moral hazard. There is no good reason to believe that Glass-Steagall, had it remained in effect, would have prevented any of these problems.

Peter Wallison of the American Enterprise Institute fills in the picture when he writes,

In 1992, Congress adopted the ironically named Federal Housing Enterprises Financial Safety and Soundness Act, also known as the GSE Act, giving HUD the authority to administer the legislation’s affordable housing goals. The law required Fannie Mae and Freddie Mac, when they acquired mortgages from lenders, to meet a quota of loans to borrowers who were at or below the median income where they lived. At first, the quota was 30%, but HUD was authorized to raise the quota and over time it did, eventually requiring a quota of 56%. 

The result of this and related policies? “At the time of Lehman’s failure [in 2008],” Wallison writes, “half of all mortgages in the U.S.—28 million loans—were subprime or otherwise risky and low-quality. Of these, 74% were on the books of government agencies, principally the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.”

On their face, these numbers suggest that the government’s housing policy had created the demand for these mortgages, and thus had something to do with Lehman’s failure and the financial crisis. But in recent days nearly all articles have focused on the 26% of mortgages that were the responsibility of the private sector. It is as though the vast majority of the subprime mortgages that the government bought didn’t exist.

Obama and his crowd, by the way, have returned to pressuring lenders to make “affordable” loan to unqualified homebuyers.


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As usual, the Onion has the real news

I have already recieved dozens of texts from people who love us, and my staffers tell me to expect at least 15 more

I have already received dozens of texts from people who love us, and my staffers tell me to expect at least 15 more

Psychiatrists deeply worried about the 5% of Americans who still approve of Congress

WASHINGTON—Noting that the individuals in question may be extremely mentally disturbed or suffering from a serious psychological illness, the nation’s psychiatrists announced Wednesday that they are deeply concerned for the estimated 5 percent of Americans who were found in nationwide polls this week to approve of the U.S. Congress…. [P] sychiatrist Dr. Donald Levin [told]  reporters that the estimated 15.5 million Americans who approve of Congress are likely “very troubled” citizens who may in fact be experiencing psychotic episodes or delusional thoughts. “We’re not entirely sure who these people are or where they come from—perhaps they are psych ward patients, or unstable recluses living in remote huts on the outskirts of society—but what we do know is that they are extremely disconnected from reality and in need of immediate attention if they are not already receiving it.”


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In case you missed it, the Greenwich Republican Town Committee staged a debate this weekend

"Biff!" "Bang!" "Pow!" Tesei takes on straw man

“Biff!” “Bang!” “Pow!” Tesei takes on straw man

“We don’t have real elections in this town,” First Selectman Peter Tesei explained to FWIW, “but the voters expect at least the pretense of a campaign: this is what we came up with.”


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