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GOP presidential contenders at CPAC

Carl Cameron runs down the Republican presidential contenders at the Conservative Political Action Conferenc ("CPAC").

Cameron's list includes:
Governors Charlie Crist, Bobby Jindal, Sarah Palin, Tim Pawlenty, and Mark Sanford, and former Governors Mike Huckabee, Mitt Romney.

Notice the lack of senators.

Watch Cameron's video report:

Obama budget - more spending than anyone can comprehend

With his debt-busting budget which contains a $trillion tax increase, President Obama plans to have the Federal government spend 25 percent of the entire U.S. economy - one out of every four dollars produced in the U.S.

Obama's massive spending plan puts the Democrat-controlled Congress on track to double the national debt by 2010 - to $17.6 trillion, after just four years of controlling the national purse strings.

At FoxNews they tried to put $3.6 trillion in perspective:

• If you spent $1 million an hour, non-stop for 24 hours a day, you wouldn’t run out of money for 411 years.

• If you took 3.6 trillion one-dollar bills, and placed them end-to-end, that line of bills would reach from Capitol Hill to the sun and then back to Capitol Hill and then back to the sun — and then almost all the way back to Capitol Hill again.

The uncontrolled spending binge Obama and the Democrats are on -- the $800 billion so-called stimulus, the $410 billion spending bill under consideration in Congress, the tax and borrow Obama budget spending plan, and a doubled national debt -- is an incomprehensible amount of money.

Think of a trillion in terms of seconds. We all know how long a second is. A million seconds is 13 days. A billion seconds is 31 years. A trillion seconds is 31,688 years. Think of the ongoing spending orgy in terms of seconds and perhaps we can grasp what Obama and Democrats are spending and borrowing:

• 0.410 trillion seconds (Congress' proposed spending bill) is 12,992 years.
• 0.634 trillion seconds (Obama's down payment on health care reform) is 20,090 years.
• 0.787 trillion seconds (Obama's so-called stimulus) is 24,938 years.
• 1.75 trillion seconds (Obama's proposed deficit) is 55,454 years.
• 3.27 trillion seconds (the actual cost of the so-called stimulus)
• 3.6 trillion seconds (Obama's budget) is 114,077 years.
• 8.67 trillion seconds (the national debt the Democrats inherited) is 274,735 years.
• 17.6 trillion seconds (the projected 2010 national debt under Obama's budget) is 557,709 years.

A trillion here, a trillion there; sooner or later you run out of time.

McConnell: leave the terrorists in the Guantanamo jail

"When it comes to Guantanamo, the new Administration needs to show it's more concerned with safety than symbolism." -- Republican Leader Mitch McConnell:

A month ago I asked where will Obama put the terrorists. The president still doesn't have an answer. But, speaking at CPAC, Senate Minority Leader Mitch McConnell suggested an answer for Obama:

Many of those still detained are serious threats to the safety of our citizens. In fact, several of these terrorists still proudly proclaim their desire to kill more Americans.

The new Attorney General visited Guantanamo earlier this week and he returned with a glowing report. He said it was well-run, that he was impressed with the people in charge, and that every single person there has to be moved out and Guantanamo shut down in less than a year.

The Obama Administration needs to answer a very simple question: Where exactly do they expect to send these guys? They don't have an answer to that question. But I do: they ought to be right there in the jail in Guantanamo.

'Mission accomplished' redux - Obama declares War in Iraq ended

President Obama visited Camp Lejeune, N.C., to declare the war in Iraq ended on August 31, 2010:



Even though 50,000 troops will remain in Iraq Obama claims "mission accomplished." 

We have been telling you for nearly a year that Obama would leave significant numbers of troops in Iraq and that his 16-month withdrawal timetable wasn't doable.

You can read Obama's entire speech here.

Democrats on track to double national debt by 2010

The Democrat-controlled Congress, with help from President Obama's big government vision, is on track to double the national debt in four years.

USA Today published an interactive chart that provides annual revenue, spending, deficit and national debt numbers. The most frightening number is the national debt.

When the Pelosi/Reid left-wing Democrats took control of Congress, the national debt stood at $9 trillion.

Based on Obama's overview of his $4 trillion $1.75 trillion deficit budget, the chart predicts that, by 2010 -- after the Democrats have controlled congress for only four years, the national debt will stand at $17.6 trillion. That is very nearly double the $8.67 trillion debt the Democrats "inherited."

Poking fun of Bernanke, Hank Paulson, Timothy Geithner and Bernie Madoff

NBC's David Gregory reports the spoof of U.S. financial heads Ben Bernanke, Hank Paulson, and Timothy Geithner written and produced at Flinch Studio for Mark Cuban's "Blog Maverick":

The good folks at Flinch also helped Mark Cuban poke fun at Bernie Madoff:

Read Obama's budget overview here

You can read President Obama's overview of his national debt-busting $4 trillion $1.75 trillion deficit budget entitled, "A New Era of Responsibility: Renewing America's Promise," below.

Click full screen to make it easier to read.

Obama's FY2010 Budget - Free Legal Forms

Obama budgets $1 trillion tax increase

President Obama's national debt-busting $4 trillion, $1.75 trillion deficit and $750 billion bank bailout  budget redistributes wealth by raising nearly $1 trillion in taxes on the 2.6 million highest-earning Americans:

• Obama would increase the top tax rates of 33 percent and 35 percent to 36 percent and 39.6 percent.
• Obama would raise taxes on capital gains and dividends 15 percent to 20 percent.
• Obama would limit itemized deductions for those families with more than $250,000 of income.

According to the Wall Street Journal, Obama's tax increases won't be nearly enough to pay for Obama's vision of having the government do everything:

Even the most basic inspection of the IRS income tax statistics shows that raising taxes on the salaries, dividends and capital gains of those making more than $250,000 can't possibly raise enough revenue to fund Mr. Obama's new spending ambitions.

Consider the IRS data for 2006, the most recent year that such tax data are available and a good year for the economy and "the wealthiest 2%." Roughly 3.8 million filers had adjusted gross incomes above $200,000 in 2006. (That's about 7% of all returns; the data aren't broken down at the $250,000 point.) These people paid about $522 billion in income taxes, or roughly 62% of all federal individual income receipts. The richest 1% -- about 1.65 million filers making above $388,806 -- paid some $408 billion, or 39.9% of all income tax revenues, while earning about 22% of all reported U.S. income.

That's right. The wealthiest 2% already pay roughly 62% of all federal individual income tax receipts. But 62% isn't enough for the Obama spending.

The Wall Street Journal takes Obama's wealth redistribution a step further and concludes that even if you took every "taxable 'dime' of everyone earning more than $75,000 in 2006 would have barely yielded enough to cover Obama's $4 trillion spending plan."

 We told you Obama was a redistributionist, but that Obama calls his radical Marxist-like tendency change.

Obama's Budget: $4 trillion in spending, a $1.75 trillion deficit, and another $750 billion bank bailout

President Obama's national debt busting first budget projects a $1.75 trillion deficit so Obama can spend nearly $4 trillion in fiscal year 2010 and "creates space" for another $750 billion bank bailout.

The White House will formally release Obama's budget boondoggle overview at 11:00 a.m., but at FoxNews, Major Garrett provides a preview:

Senior administration officials would not disclose a precise figure for the entire budget, but said it would likely fall between $3.8 trillion and $4 billion for the fiscal year beginning Oct. 1.

As we reported yesterday, the Obama budget will also set aside a $634 billion health care "reserve fund" as a down payment of the estimated $1trillion cost of Obama's so-called "health care reform."

OTHER BUDGET HIGHLIGHTS:

Bush tax cuts allowed to expire at the end of 2010.

Phase out of direct payments to farms with sales revenue of more than $500,000 per year - projected to save $9.8 billion over 10 years.

Abolish payments for the storage of cotton - projected to save $570 million over 10 years.

Eliminate the President Bush's Federal Mentoring Program - projected to save $500 million

Eliminate the "Advance" Earned Income Tax Credit - projected to save $880 million over 10 years.

Increase investment managers tax rate 135%, from 15% to 35 percent.

Hire additional IRS agents to collect more taxes.

Significant undisclosed savings from Pentagon procurement - Obama code for defense cuts.

So Obama is going to spend $4 trillion, run a $1.75 trillion deficit and offer the banks another $750 billion bailout but Obama can only find a measly $1.164 billion in annual savings in the entire Federal budget, not counting his "significant undisclosed" defense cuts.

Like Obama said, he won. It's becoming clear that means we lose. 

Obama budget creates $634 billion health care fund

At the Washington Post, Ceci Connolly reports President Obama's proposed budget will create a $634 billion health care fund to partially pay for a vast expansion of the U.S. health system.

According to the Post Obama's health care overhaul will cost as much as $1 trillion over the next decade:

Obama would pay for the expansion by trimming tax breaks for the wealthy and tightening payments to insurers, hospitals and physicians, according to a senior administration official.

According to the Wall Street Journal, Obama's spending cuts are also aimed at "curbing health-care spending overall": 

The cuts would affect a range of interests, including managed care companies, prescription drug manufacturers and hospitals.

President Obama at an event announcing his nominee for Commerce Secretary on Wednesday.
The proposed tax change would limit the deductions available to people in the highest income tax brackets.

A trillion here a trillion there pretty soon. . . .