American Elephants

Friday Night News Dump: Monday Morning Confusion. by The Elephant's Child

— It’s all so confusing. There had been talk for weeks about CLASS, the long-term care benefit in ObamaCare,  primarily that it simply was not financially feasible. It wouldn’t work. So in the Friday news dump, the Obama administration admitted that it wouldn’t work and they were shutting it down. Congresspeople said that they’s better repeal it, because there would still be some provisions in effect. To which Obama objected and said no you can’t repeal the CLASS provision.

—The Iraq War was one of Obama’s main issues in the campaign.  He said he would work with military commanders and in consultation with the Iraqi government to end the war and bring the troops home—by the end of 2009.  Then everybody was supposed to be home by the end of last summer, except for some troops who were working with training the Iraqi military, and now everybody has to be home by the end of the year, except for those attached to the embassy.  Except today Obama said, no that’s not true, we’re still negotiating with the Iraqi government. But we are sending troops to Uganda to quell the Lord’s Resistance Army which has been wreaking havoc with guns and machetes over a wide swath of central Africa, except the troops we are sending can only use weapons in self-defense.

— Not all solar power companies have gone bankrupt, some are managing to stay in business thanks to renewable energy mandates from the states and restrictions on cheap energy. More than $7 billion in financing has gone to the solar industry to create a mere 250 permanent jobs, and taxpayers are on the hook for $28 million for each permanent job created. In California, Jerry Brown has approved legislation that requires all private and municipal electric utilities to get at least one-third of their power from non-fossil fuel sources by 2020.

That apparently doesn’t count the fact that the fossil-fuel sources have to keep going all the time to back up the times when the wind isn’t blowing at the right speed, and in the case of solar — night, and times when there are clouds. If wind and solar were viable sources of energy, they wouldn’t need mandates, and investment would be attractive. The renewable energy mandates are supposed to cut carbon dioxide emissions by 80% by 2050. Europe’s experience is that all their investment in renewable energy has not cut their emissions at all, possibly because the carbon dioxide in the atmosphere rises from the oceans, not from SUV tailpipes.

—  Obama is back out on the campaign trail blaming Congress for not passing his jobs bill, which is not a jobs bill, but another stimulus, and ignoring the fact that it was Democrats who balked at passing his bill.  He complains that Republicans have no ideas about jobs, though the House and the Senate have each produced specific proposals, in writing. Mr. Obama can’t seem to understand that when the government pays for jobs to be created with taxpayer money, it is still a net drain on the economy. His campaign trip is also a net drain on the economy, as it’s being charged to taxpayers.  It’s not a campaign trip, you see, because he’s talking about jobs, which is a Presidential duty.

— It seems as if a lot of government spending would jolt the economy in some favorable direction,but such is not the case. When you raise taxes, you get less revenue.  When you lower taxes, you get a more productive economy and more revenue.  A lot of economics is counterintuitive.


%d bloggers like this: