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PERRIN LOVETT

~ Deo Vindice

PERRIN LOVETT

Tag Archives: government

ECON 666: Already Planning to Make the Next Recession Worse

03 Friday Mar 2017

Posted by perrinlovett in Legal/Political Columns

≈ 1 Comment

Tags

1913, America, banksters, economy, evil, Federal Reserve, government, money, recession, theft

The Federal Reserve system is truly amazing.

Built, in secret in a dark room at Jekyll Island, Georgia, it was foisted on the American people more than 100 years ago. It is patently illegal; Congress abdicated its Article I authority to control the currency to a private, unelected, and uncontrollable bank. It destroyed the value of the dollar. It necessitated the 16th Amendment and the income tax (as a prop).

It institutionalized the normal business (boom, bust, boom,…) cycle – privatizing the gains and socializing the loses. It allows for concentration of wealth in the dirty hands of a few bankers and closely associated persons. It places all responsibility and liability on the public. It allows for unlimited government: spending, debt, programs, and wars. It works in conjunction with other central banks and the Bank for International Settlements to maintain a global system of debt slavery.

That this greatest and most evil of ponzi schemes has lasted for 104 years is a testament to either the wiles of its creators and operators or to the blind stupidity of the people. It could be both. And it could signal the completely corrupted nature of the American political class. None of it unfathomable…

Those who rule the economy like gods, even in the midst of preparing for a likely transition in leadership next February, are already plotting and planning their actions for the next American recession:

While in recent weeks there has been a material increase in Fed balance sheet normalization chatter, according to a new report from Deutsche Bank analysts, it may all be for nothing for one simple reason: should the US encounter a recession in the next several years, the most likely reaction by the Fed would be another $1 trillion in QE, delaying indefinitely any expectations for a return to a “normal” balance sheet.

As a reminder, as of this month, the duration of the latest expansionary cycle – as defined by the NBER – has reached 93 months, surpassing the 92 months of the 1982-1990 cycle, and is now the third longest in history. Should the cycle persist for another 27 months, or just under two and a half years, it would be the longest period of “economic growth” in history.

It’s like they know. Like they do this on purpose. “QE”means quantitative easing. That’s fancy banker talk for printing money. In this case, the U.S. Treasury will announce a sale of $1 Trillion in federal bonds. That’s more debt and interest for the taxpayers to work off. The Fed will then “expand its balance sheet” by buying the Treasuries. These are on sale at the Treasury but the Fed will buy them through their favorite middleman, Goldman Sachs.

Goldman will mark up the price, to give the people the worst deal possible and to make a profit. Goldman will finance the initial purchase from the Treasury with a fake money loan from guess who… And how will the Fed obtain the money for the Goldman loan and for the secondary Treasury purchase? By printing money! A lot of money. $1 Trillion for Goldman. And $1 Trillion plus Goldman fees for the Fed. Wait. There’s more (and more and more): the Treasury and the government now have an extra Trillion. That’s the multiplier effect. $3 Trillion+ in extra fake money in circulation.

I do not know what Goldman’s markup is. Let’s say it’s 10%. So $3.1 Trillion is created out of thin air. Poof! The money came from nowhere but it still has an effect. And it has to be paid for despite not being real.

The government gets to spend their Trillion in debt immediately – on war, healthcare, a mission to Mars – literally the sky is the limit (or space). Later the taxpayers will pay that back to the Fed, with interest (on money that never existed). Goldman will instantly pay off its $1 Trillion loan from the Fed through the subsequent sale to the Fed. They keep their 10% – $100 Billion! Good to be them.

Now the Fed will have on the crooked books: the asset of the Treasuries, and: the liability for the $1.1 Trillion to buy them. The balance went to Goldman, remember. Given enough time and hard work and sweat from the taxpaying saps, this liability and associated asset would balance out – back to zero. But, in the meantime, the Fed has that $1 Trillion asset just sitting there! They won’t let it go to waste.

They will use it as an asset to loan more fake money to more commercial banks (in America and abroad). More multiplying. More debt based on something that doesn’t exist.

All of this excess fake money floating around drives down the value of existing money – Gresham’s Law. This makes the taxpayer’s hard-earned money – that little money they’re allowed to keep when not repaying debt and interest via taxes on loans that never really existed – less valuable even as the prices of the things they must buy rise (monetary inflation). In other words, while the globalist instantly profit, the taxpayers take it in both ends for the duration.

Yes, even as the banks instantly get richer for doing nothing, the people get poorer. And this crazed debt cycle runs parallel to the usual business cycle (boom, bust, growth, contraction, …) until the next recession, depression, or downturn – when it will all be repeated.

That’s partly the nature of these bars on the graph from Zero Hedge:

expansion-duration

We’re at the end of the red bar (2009-present). That’s supposed to be a boom market or good times. For most they haven’t felt so good. And that’s because the people have struggled with the debt and inflation and lose of buying power from the last round of QE, circa 2008-09.

Cozy, huh? This cycle will keep repeating until the economy totally collapses or until the people finally wake up and rise up (or both).

From the graph one can also see we are, by historical average, overdue for a recession right now.

Additionally from the graph one might catch a glimpse of the Depression of 1921. It was the one immediately prior to the Great Depression. And it only lasted for six months. That’s because it was the last major depression/recession before the Fed really got the game up and running.

Cycles naturally come and go. They naturally correct themselves in very rapid fashion. It takes a central bank and a government, working together, to prolong their effects – and to build upon the cycle for the next time.

It seems the next time is coming and the criminals are already planning for it. If you don’t mind flirting with utter disaster and if you’re not ready to wake up yet, then at least heed the warnings. They’ve already told you so. If you’re caught off guard, that’s on you. Hell, it’s all going to be on you anyway…

The Incredible Obamacare Whack-A-Bill

02 Thursday Mar 2017

Posted by perrinlovett in Legal/Political Columns, Uncategorized

≈ 1 Comment

Tags

Congress, GOP, government, ObamaCare, Rand Paul, secrecy

Now you see it. Now you don’t. Actually, you just don’t. Even if you’re a member of Congress, a Republican member, you can’t see whatever passes for Obamacare reform.

This is getting ridiculous. Well, it’s been ridiculous for years – now they’re just adding to the spectacle.

House Republicans thought they were writing a bill to repeal and replace Obamacare. Instead, on Thursday, they found themselves running a traveling circus.

Following reports that a major chunk of their health-care legislation was being held for House GOP review in a secret room somewhere in the Capitol complex, Democrats and Republicans who hadn’t been invited started the hunt. Senator Rand Paul, a Kentucky Republican, was first on the scene of the supposed secret location.

“It’s the secret office of the secret bill,” Paul told a gaggle of reporters. After being denied entry by a security guard and staff aide, he quickly turned the moment into an impromptu press conference about legislation transparency.

“I suspect public pressure will make them release it,” he said.

Except, as it turned out, the bill wasn’t there. House Ways and Means Chairman Kevin Brady was in the room, but the Texas Republican said the bill wasn’t.

Where’s the Bill? Who’s got the Bill? Anybody seen a Bill?

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Sen. Rand Paul on the hunt (with portable copier). Steve Kopack / Twitter.

Why the secrecy? The Draft circulated a week ago was obviously that – a draft – or a ruse. Allegedly the authors were not happy it got out. An, now, they’re making it impossible for anyone to see what they’re doing. Why? Do we have secrecy in our government? The answer is, “yes, of course”. But that doesn’t feel right, it’s not the way it’s supposed to be.

The original legislation, which gave us the doomed ACA, was shrouded in secrecy. It was rushed through the process. No one bothered to read it (or had time). That didn’t work out so well. Had they read it, they might have concluded it was a giant, stinking boondoggle, voted it down, and spared us (and themselves) the present worry.

After what … 100 years? … of promising to fix or get rid of the mess, one would think Republicans would be proud if their efforts. Why hide them? Do really have anything this time? Someone pointed out that they did pass a repeal Bill through previously. It met an Obama veto. Why not redo the exact same Bill? Trump would sign it. Stupidity on top or secrecy on top of incompetence.

Similarly, the TPP legislation was kept “locked up and under armed guard in the Capital basement vault”. That, also, was a complete disaster waiting to happen. The Bill stalled in the Senate (maybe someone read it), only to have Obama okay it anyway. Trump killed it earlier this year with great ceremony – one of the few laws undone, ever. A win for the people.

The people need another win with Obamacare. At the least, they deserve a little trust from their employees in Congress. Let’s see what is in the damned repeal, repeal and replace, prop-up, or whatever it is.

It’s really a shame we don’t have a “no confidence” voting measure for our government. That’s no secret.

State of the Union: Impressions and Full Text

01 Wednesday Mar 2017

Posted by perrinlovett in Legal/Political Columns

≈ Comments Off on State of the Union: Impressions and Full Text

Tags

Donald Trump, government, state of the union

If you want to see it, I suppose the video is still up at:

https://www.whitehouse.gov/joint-address.

I watched the beginning of the address but bowed out around 30 minutes in. Trump was wise to open with references to black history and the civil rights struggle – it set the tone for a more unifying tone that his usual pomp. He said we must “condemn hate and evil in all its ugly forms”.

Indeed the speech garnered praise from around the spectrum. I liked that he mentioned “free” and “independence” up front. He also noted that, in 2016, a rebellion began. Again, he wants what most Americans want – to put American citizens first.

a44085ab4a019ff0c40ec4a665e415981ed82e79

Yahoo News.

 

Then came talk of his first month accomplishments (the man is trying). Then began the recitation of where the nation stands and a lot of promises. As with his predecessors, one new to the world would think Trump actually had a plan and the ability to fix everything under the sun. He does not. Progress will be made and problems will remain. That’s the way it works.

The full text:

Mr. Speaker, Mr. Vice President, Members of Congress, the First Lady of the United States, and Citizens of America:

Tonight, as we mark the conclusion of our celebration of Black History Month, we are reminded of our Nation’s path toward civil rights and the work that still remains. Recent threats targeting Jewish Community Centers and vandalism of Jewish cemeteries, as well as last week’s shooting in Kansas City, remind us that while we may be a Nation divided on policies, we are a country that stands united in condemning hate and evil in all its forms.

Each American generation passes the torch of truth, liberty and justice –- in an unbroken chain all the way down to the present.

That torch is now in our hands. And we will use it to light up the world. I am heretonight to deliver a message of unity and strength, and it is a message deeply delivered from my heart.

A new chapter of American Greatness is now beginning.

A new national pride is sweeping across our Nation.

And a new surge of optimism is placing impossible dreams firmly within our grasp.

What we are witnessing today is the Renewal of the American Spirit.

Our allies will find that America is once again ready to lead.

All the nations of the world — friend or foe — will find that America is strong, America is proud, and America is free.

In 9 years, the United States will celebrate the 250th anniversary of our founding — 250 years since the day we declared our Independence.

It will be one of the great milestones in the history of the world.

But what will America look like as we reach our 250th year? What kind of country will we leave for our children?

I will not allow the mistakes of recent decades past to define the course of our future.

For too long, we’ve watched our middle class shrink as we’ve exported our jobs and wealth to foreign countries.

We’ve financed and built one global project after another, but ignored the fates of our children in the inner cities of Chicago, Baltimore, Detroit — and so many other places throughout our land.

We’ve defended the borders of other nations, while leaving our own borders wide open, for anyone to cross — and for drugs to pour in at a now unprecedented rate.

And we’ve spent trillions of dollars overseas, while our infrastructure at home has so badly crumbled.

Then, in 2016, the earth shifted beneath our feet. The rebellion started as a quiet protest, spoken by families of all colors and creeds -– families who just wanted a fair shot for their children, and a fair hearing for their concerns.

But then the quiet voices became a loud chorus — as thousands of citizens now spoke out together, from cities small and large, all across our country.

Finally, the chorus became an earthquake – and the people turned out by the tens of millions, and they were all united by one very simple, but crucial demand, that America must put its own citizens first … because only then, can we truly MAKE AMERICA GREAT AGAIN.

Dying industries will come roaring back to life. Heroic veterans will get the care they so desperately need.

Our military will be given the resources its brave warriors so richly deserve.

Crumbling infrastructure will be replaced with new roads, bridges, tunnels, airports and railways gleaming across our beautiful land.

Our terrible drug epidemic will slow down and ultimately, stop.

And our neglected inner cities will see a rebirth of hope, safety, and opportunity.

Above all else, we will keep our promises to the American people.

It’s been a little over a month since my inauguration, and I want to take this moment to update the Nation on the progress I’ve made in keeping those promises.

Since my election, Ford, Fiat-Chrysler, General Motors, Sprint, Softbank, Lockheed, Intel, Walmart, and many others, have announced that they will invest billions of dollars in the United States and will create tens of thousands of new American jobs.

The stock market has gained almost three trillion dollars in value since the election on November 8th, a record. We’ve saved taxpayers hundreds of millions of dollars by bringing down the price of the fantastic new F-35 jet fighter, and will be saving billions more dollars on contracts all across our Government. We have placed a hiring freeze on non-military and non-essential Federal workers.

We have begun to drain the swamp of government corruption by imposing a 5 year ban on lobbying by executive branch officials –- and a lifetime ban on becoming lobbyists for a foreign government.

We have undertaken a historic effort to massively reduce job‑crushing regulations, creating a deregulation task force inside of every Government agency; imposing a new rule which mandates that for every 1 new regulation, 2 old regulations must be eliminated; and stopping a regulation that threatens the future and livelihoods of our great coal miners.

We have cleared the way for the construction of the Keystone and Dakota Access Pipelines — thereby creating tens of thousands of jobs — and I’ve issued a new directive that new American pipelines be made with American steel.

We have withdrawn the United States from the job-killing Trans-Pacific Partnership.

With the help of Prime Minister Justin Trudeau, we have formed a Council with our neighbors in Canada to help ensure that women entrepreneurs have access to the networks, markets and capital they need to start a business and live out their financial dreams.

To protect our citizens, I have directed the Department of Justice to form a Task Force on Reducing Violent Crime.

I have further ordered the Departments of Homeland Security and Justice, along with the Department of State and the Director of National Intelligence, to coordinate an aggressive strategy to dismantle the criminal cartels that have spread across our Nation.

We will stop the drugs from pouring into our country and poisoning our youth — and we will expand treatment for those who have become so badly addicted.

At the same time, my Administration has answered the pleas of the American people for immigration enforcement and border security. By finally enforcing our immigration laws, we will raise wages, help the unemployed, save billions of dollars, and make our communities safer for everyone. We want all Americans to succeed –- but that can’t happen in an environment of lawless chaos. We must restore integrity and the rule of law to our borders.

For that reason, we will soon begin the construction of a great wall along our southern border. It will be started ahead of schedule and, when finished, it will be a very effective weapon against drugs and crime.

As we speak, we are removing gang members, drug dealers and criminals that threaten our communities and prey on our citizens. Bad ones are going out as I speak tonight and as I have promised.

To any in Congress who do not believe we should enforce our laws, I would ask you this question: what would you say to the American family that loses their jobs, their income, or a loved one, because America refused to uphold its laws and defend its borders?

Our obligation is to serve, protect, and defend the citizens of the United States. We are also taking strong measures to protect our Nation from Radical Islamic Terrorism.

According to data provided by the Department of Justice, the vast majority of individuals convicted for terrorism-related offenses since 9/11 came here from outside of our country. We have seen the attacks at home -– from Boston to San Bernardino to the Pentagon and yes, even the World Trade Center.

We have seen the attacks in France, in Belgium, in Germany and all over the world.

It is not compassionate, but reckless, to allow uncontrolled entry from places where proper vetting cannot occur. Those given the high honor of admission to the United States should support this country and love its people and its values.

We cannot allow a beachhead of terrorism to form inside America — we cannot allow our Nation to become a sanctuary for extremists.

That is why my Administration has been working on improved vetting procedures, and we will shortly take new steps to keep our Nation safe — and to keep out those who would do us harm.

As promised, I directed the Department of Defense to develop a plan to demolish and destroy ISIS — a network of lawless savages that have slaughtered Muslims and Christians, and men, women, and children of all faiths and beliefs. We will work with our allies, including our friends and allies in the Muslim world, to extinguish this vile enemy from our planet.

I have also imposed new sanctions on entities and individuals who support Iran’s ballistic missile program, and reaffirmed our unbreakable alliance with the State of Israel.

Finally, I have kept my promise to appoint a Justice to the United States Supreme Court — from my list of 20 judges — who will defend our Constitution. I am honored to have Maureen Scalia with us in the gallery tonight. Her late, great husband, Antonin Scalia, will forever be a symbol of American justice. To fill his seat, we have chosen Judge Neil Gorsuch, a man of incredible skill, and deep devotion to the law. He was confirmed unanimously to the Court of Appeals, and I am asking the Senate to swiftly approve his nomination.

Tonight, as I outline the next steps we must take as a country, we must honestly acknowledge the circumstances we inherited.

Ninety-four million Americans are out of the labor force.

Over 43 million people are now living in poverty, and over 43 million Americans are on food stamps.

More than 1 in 5 people in their prime working years are not working.

We have the worst financial recovery in 65 years.

In the last 8 years, the past Administration has put on more new debt than nearly all other Presidents combined.

We’ve lost more than one-fourth of our manufacturing jobs since NAFTA was approved, and we’ve lost 60,000 factories since China joined the World Trade Organization in 2001.

Our trade deficit in goods with the world last year was nearly $800 billion dollars.

And overseas, we have inherited a series of tragic foreign policy disasters.

Solving these, and so many other pressing problems, will require us to work past the differences of party. It will require us to tap into the American spirit that has overcome every challenge throughout our long and storied history.

But to accomplish our goals at home and abroad, we must restart the engine of the American economy — making it easier for companies to do business in the United States, and much harder for companies to leave.

Right now, American companies are taxed at one of the highest rates anywhere in the world.

My economic team is developing historic tax reform that will reduce the tax rate on our companies so they can compete and thrive anywhere and with anyone. At the same time, we will provide massive tax relief for the middle class.

We must create a level playing field for American companies and workers.

Currently, when we ship products out of America, many other countries make us pay very high tariffs and taxes — but when foreign companies ship their products into America, we charge them almost nothing.

I just met with officials and workers from a great American company, Harley-Davidson. In fact, they proudly displayed five of their magnificent motorcycles, made in the USA, on the front lawn of the White House.

At our meeting, I asked them, how are you doing, how is business? They said that it’s good. I asked them further how they are doing with other countries, mainly international sales. They told me — without even complaining because they have been mistreated for so long that they have become used to it — that it is very hard to do business with other countries because they tax our goods at such a high rate. They said that in one case another country taxed their motorcycles at 100 percent.

They weren’t even asking for change. But I am.

I believe strongly in free trade but it also has to be FAIR TRADE.

The first Republican President, Abraham Lincoln, warned that the “abandonment of the protective policy by the American Government [will] produce want and ruin among our people.”

Lincoln was right — and it is time we heeded his words. I am not going to let America and its great companies and workers, be taken advantage of anymore.

I am going to bring back millions of jobs. Protecting our workers also means reforming our system of legal immigration. The current, outdated system depresses wages for our poorest workers, and puts great pressure on taxpayers.

Nations around the world, like Canada, Australia and many others –- have a merit-based immigration system. It is a basic principle that those seeking to enter a country ought to be able to support themselves financially. Yet, in America, we do not enforce this rule, straining the very public resources that our poorest citizens rely upon. According to the National Academy of Sciences, our current immigration system costs America’s taxpayers many billions of dollars a year.

Switching away from this current system of lower-skilled immigration, and instead adopting a merit-based system, will have many benefits: it will save countless dollars, raise workers’ wages, and help struggling families –- including immigrant families –- enter the middle class.

I believe that real and positive immigration reform is possible, as long as we focus on the following goals: to improve jobs and wages for Americans, to strengthen our nation’s security, and to restore respect for our laws.

If we are guided by the well-being of American citizens then I believe Republicans and Democrats can work together to achieve an outcome that has eluded our country for decades.

Another Republican President, Dwight D. Eisenhower, initiated the last truly great national infrastructure program –- the building of the interstate highway system. The time has come for a new program of national rebuilding.

America has spent approximately six trillion dollars in the Middle East, all this while our infrastructure at home is crumbling. With this six trillion dollars we could have rebuilt our country –- twice. And maybe even three times if we had people who had the ability to negotiate.

To launch our national rebuilding, I will be asking the Congress to approve legislation that produces a $1 trillion investment in the infrastructure of the United States — financed through both public and private capital –- creating millions of new jobs.

This effort will be guided by two core principles: Buy American, and Hire American.

Tonight, I am also calling on this Congress to repeal and replace Obamacare with reforms that expand choice, increase access, lower costs, and at the same time, provide better Healthcare.

Mandating every American to buy government-approved health insurance was never the right solution for America. The way to make health insurance available to everyone is to lower the cost of health insurance, and that is what we will do.

Obamacare premiums nationwide have increased by double and triple digits. As an example, Arizona went up 116 percent last year alone. Governor Matt Bevin of Kentucky just said Obamacare is failing in his State — it is unsustainable and collapsing.

One third of counties have only one insurer on the exchanges –- leaving many Americans with no choice at all.

Remember when you were told that you could keep your doctor, and keep your plan?

We now know that all of those promises have been broken.

Obamacare is collapsing –- and we must act decisively to protect all Americans. Action is not a choice –- it is a necessity.

So I am calling on all Democrats and Republicans in the Congress to work with us to save Americans from this imploding Obamacare disaster.

Here are the principles that should guide the Congress as we move to create a better healthcare system for all Americans:

First, we should ensure that Americans with pre-existing conditions have access to coverage, and that we have a stable transition for Americans currently enrolled in the healthcare exchanges.

Secondly, we should help Americans purchase their own coverage, through the use of tax credits and expanded Health Savings Accounts –- but it must be the plan they want, not the plan forced on them by the Government.

Thirdly, we should give our great State Governors the resources and flexibility they need with Medicaid to make sure no one is left out.

Fourthly, we should implement legal reforms that protect patients and doctors from unnecessary costs that drive up the price of insurance – and work to bring down the artificially high price of drugs and bring them down immediately.

Finally, the time has come to give Americans the freedom to purchase health insurance across State lines –- creating a truly competitive national marketplace that will bring cost way down and provide far better care.

Everything that is broken in our country can be fixed. Every problem can be solved. And every hurting family can find healing, and hope.

Our citizens deserve this, and so much more –- so why not join forces to finally get it done? On this and so many other things, Democrats and Republicans should get together and unite for the good of our country, and for the good of the American people.

My administration wants to work with members in both parties to make childcare accessible and affordable, to help ensure new parents have paid family leave, to invest in women’s health, and to promote clean air and clear water, and to rebuild our military and our infrastructure.

True love for our people requires us to find common ground, to advance the common good, and to cooperate on behalf of every American child who deserves a brighter future.

An incredible young woman is with us this evening who should serve as an inspiration to us all.

Today is Rare Disease day, and joining us in the gallery is a Rare Disease Survivor, Megan Crowley. Megan was diagnosed with Pompe Disease, a rare and serious illness, when she was 15 months old. She was not expected to live past 5.

On receiving this news, Megan’s dad, John, fought with everything he had to save the life of his precious child. He founded a company to look for a cure, and helped develop the drug that saved Megan’s life. Today she is 20 years old — and a sophomore at Notre Dame.

Megan’s story is about the unbounded power of a father’s love for a daughter.

But our slow and burdensome approval process at the Food and Drug Administration keeps too many advances, like the one that saved Megan’s life, from reaching those in need.

If we slash the restraints, not just at the FDA but across our Government, then we will be blessed with far more miracles like Megan.

In fact, our children will grow up in a Nation of miracles.

But to achieve this future, we must enrich the mind –- and the souls –- of every American child.

Education is the civil rights issue of our time.

I am calling upon Members of both parties to pass an education bill that funds school choice for disadvantaged youth, including millions of African-American and Latino children. These families should be free to choose the public, private, charter, magnet, religious or home school that is right for them.

Joining us tonight in the gallery is a remarkable woman, Denisha Merriweather. As a young girl, Denisha struggled in school and failed third grade twice. But then she was able to enroll in a private center for learning, with the help of a tax credit scholarship program. Today, she is the first in her family to graduate, not just from high school, but from college. Later this year she will get her masters degree in social work.

We want all children to be able to break the cycle of poverty just like Denisha.

But to break the cycle of poverty, we must also break the cycle of violence.

The murder rate in 2015 experienced its largest single-year increase in nearly half a century.

In Chicago, more than 4,000 people were shot last year alone –- and the murder rate so far this year has been even higher.

This is not acceptable in our society.

Every American child should be able to grow up in a safe community, to attend a great school, and to have access to a high-paying job.

But to create this future, we must work with –- not against -– the men and women of law enforcement.

We must build bridges of cooperation and trust –- not drive the wedge of disunity and division.

Police and sheriffs are members of our community. They are friends and neighbors, they are mothers and fathers, sons and daughters – and they leave behind loved ones every day who worry whether or not they’ll come home safe and sound.

We must support the incredible men and women of law enforcement.

And we must support the victims of crime.

I have ordered the Department of Homeland Security to create an office to serve American Victims. The office is called VOICE –- Victims Of Immigration Crime Engagement. We are providing a voice to those who have been ignored by our media, and silenced by special interests.

Joining us in the audience tonight are four very brave Americans whose government failed them.

Their names are Jamiel Shaw, Susan Oliver, Jenna Oliver, and Jessica Davis.

Jamiel’s 17-year-old son was viciously murdered by an illegal immigrant gang member, who had just been released from prison. Jamiel Shaw Jr. was an incredible young man, with unlimited potential who was getting ready to go to college where he would have excelled as a great quarterback. But he never got the chance. His father, who is in the audiencetonight, has become a good friend of mine.

Also with us are Susan Oliver and Jessica Davis. Their husbands –- Deputy Sheriff Danny Oliver and Detective Michael Davis –- were slain in the line of duty in California. They were pillars of their community. These brave men were viciously gunned down by an illegal immigrant with a criminal record and two prior deportations.

Sitting with Susan is her daughter, Jenna. Jenna: I want you to know that your father was a hero, and that tonight you have the love of an entire country supporting you and praying for you.

To Jamiel, Jenna, Susan and Jessica: I want you to know –- we will never stop fighting for justice. Your loved ones will never be forgotten, we will always honor their memory.

Finally, to keep America Safe we must provide the men and women of the United States military with the tools they need to prevent war and –- if they must –- to fight and to win.

I am sending the Congress a budget that rebuilds the military, eliminates the Defense sequester, and calls for one of the largest increases in national defense spending in American history.

My budget will also increase funding for our veterans.

Our veterans have delivered for this Nation –- and now we must deliver for them.

The challenges we face as a Nation are great. But our people are even greater.

And none are greater or braver than those who fight for America in uniform.

We are blessed to be joined tonight by Carryn Owens, the widow of a U.S. Navy Special Operator, Senior Chief William “Ryan” Owens. Ryan died as he lived: a warrior, and a hero –- battling against terrorism and securing our Nation.

I just spoke to General Mattis, who reconfirmed that, and I quote, “Ryan was a part of a highly successful raid that generated large amounts of vital intelligence that will lead to many more victories in the future against our enemies.” Ryan’s legacy is etched into eternity. For as the Bible teaches us, there is no greater act of love than to lay down one’s life for one’s friends. Ryan laid down his life for his friends, for his country, and for our freedom –- we will never forget him.

To those allies who wonder what kind of friend America will be, look no further than the heroes who wear our uniform.

Our foreign policy calls for a direct, robust and meaningful engagement with the world. It is American leadership based on vital security interests that we share with our allies across the globe.

We strongly support NATO, an alliance forged through the bonds of two World Wars that dethroned fascism, and a Cold War that defeated communism.

But our partners must meet their financial obligations.

And now, based on our very strong and frank discussions, they are beginning to do just that.

We expect our partners, whether in NATO, in the Middle East, or the Pacific –- to take a direct and meaningful role in both strategic and military operations, and pay their fair share of the cost.

We will respect historic institutions, but we will also respect the sovereign rights of nations.

Free nations are the best vehicle for expressing the will of the people –- and America respects the right of all nations to chart their own path. My job is not to represent the world. My job is to represent the United States of America. But we know that America is better off, when there is less conflict — not more.

We must learn from the mistakes of the past –- we have seen the war and destruction that have raged across our world.

The only long-term solution for these humanitarian disasters is to create the conditions where displaced persons can safely return home and begin the long process of rebuilding.

America is willing to find new friends, and to forge new partnerships, where shared interests align. We want harmony and stability, not war and conflict.

We want peace, wherever peace can be found. America is friends today with former enemies. Some of our closest allies, decades ago, fought on the opposite side of these World Wars. This history should give us all faith in the possibilities for a better world.

Hopefully, the 250th year for America will see a world that is more peaceful, more just and more free.

On our 100th anniversary, in 1876, citizens from across our Nation came to Philadelphia to celebrate America’s centennial. At that celebration, the country’s builders and artists and inventors showed off their creations.

Alexander Graham Bell displayed his telephone for the first time.

Remington unveiled the first typewriter. An early attempt was made at electric light.

Thomas Edison showed an automatic telegraph and an electric pen.

Imagine the wonders our country could know in America’s 250th year.

Think of the marvels we can achieve if we simply set free the dreams of our people.

Cures to illnesses that have always plagued us are not too much to hope.

American footprints on distant worlds are not too big a dream.

Millions lifted from welfare to work is not too much to expect.

And streets where mothers are safe from fear — schools where children learn in peace — and jobs where Americans prosper and grow — are not too much to ask.

When we have all of this, we will have made America greater than ever before. For all Americans.

This is our vision. This is our mission.

But we can only get there together.

We are one people, with one destiny.

We all bleed the same blood.

We all salute the same flag.

And we are all made by the same God.

And when we fulfill this vision; when we celebrate our 250 years of glorious freedom, we will look back on tonight as when this new chapter of American Greatness began.

The time for small thinking is over. The time for trivial fights is behind us.

We just need the courage to share the dreams that fill our hearts.

The bravery to express the hopes that stir our souls.

And the confidence to turn those hopes and dreams to action.

From now on, America will be empowered by our aspirations, not burdened by our fears –-

inspired by the future, not bound by the failures of the past –-

and guided by our vision, not blinded by our doubts.

I am asking all citizens to embrace this Renewal of the American Spirit. I am asking all members of Congress to join me in dreaming big, and bold and daring things for our country. And I am asking everyone watching tonight to seize this moment and —

Believe in yourselves.

Believe in your future.

And believe, once more, in America.

Thank you, God bless you, and God Bless these United States.

 

 

State of the Union Address Tonight

28 Tuesday Feb 2017

Posted by perrinlovett in Legal/Political Columns, Uncategorized

≈ 1 Comment

Tags

Donald Trump, government, state of the union

This may be the first one I’ll watch (with interest) in years. Trump may actually lay out a plan that means something. At the least he will be entertaining.

Tonight, Tuesday, February 28, 2017 at 9 p.m.

Live Stream at http://www.whitehouse.gov or any television station.

20170217_adm_jsoc-2017_web_blog-header

The White House.

Ahead of the speech Trump touts some of his first month accomplishments:

  • Reviving key job-creating energy projects such as the Keystone XL and Dakota Access pipelines.
  • Eliminating costly Obama-era regulations such as the “Stream Protection Rule.”
  • Minimizing the economic burden of Obamacare while clearing the path toward repeal and replace.
  • Directing the Department of Defense to develop a plan to defeat ISIS.
  • Standing with American workers by withdrawing from the disastrous Trans-Pacific Partnership.
  • Enacting common sense regulatory reform by ordering any new regulations be offset by the repeal of two other regulations.
  • Building his Cabinet and Administration with the highest quality individuals to help implement the President’s vision for the country.
  • Establishing new ethics commitments for all executive branch appointees to enforce a five-year lobbying ban and a permanent ban on lobbying for foreign governments.

I reserve the right to follow-up commentary, here, tomorrow.

Budget Battle 2017

27 Monday Feb 2017

Posted by perrinlovett in Legal/Political Columns

≈ Comments Off on Budget Battle 2017

Tags

America, budget, Congress, debt, Donald Trump, government

Tomorrow night, at 9 PM, President Trump will address Congress. It’s his duty to present the state of the union which as, fiscally, looks bleak. The CBO is projecting whopping debt increases over the next ten years. If Trump addresses anything, it should be debt spending and the budget. I think he will at least brush over the subjects, each intertwined with the other.

His budget blueprint goes to Congress on March 13st. Here’s a little of what we know now:

President Donald Trump’s first budget proposal will look to increase defense and security spending by $54 billion and cut roughly the same amount from non-defense programs, the White House said Monday.

The budget blueprint, which was sent to government agencies Monday, would increase defense spending to $603 billion and decrease non-defense discretionary spending to $462 billion, Office of Management and Budget Director Mick Mulvaney said.

The Last Refuge outlined some of Trump’s proposals:

As we have discussed numerous times, President Trump is going to propose a $10 trillion spending cut over ten years – or $1 trillion per year. This is entirely reasonable considering the scale and scope of government.

Baseline for understanding – The entire U.S. Gross Domestic Product (GDP) is roughly $20 trillion. The total of all current income taxes is roughly $4 trillion, or 1/5th of GDP.

President Trump’s economic plan is predicting an earnest rate of economic growth of 4%. We feel this is the minimal achievable in FY 2018, but all projections say at least 4% GDP growth is anticipated. Four percent of growth equals an additional $1 trillion added to GDP. The tax revenue from the GDP growth is $400 billion/per year (1/5th of $1 trillion). Or $4 trillion over the 10-year projection.

Yes, entitlements equal approximately $2.5 trillion; and yes, the current budget is approximately $4 trillion. However, this is a false term because the SS/Med expenditure is constantly being refreshed by an additional $2.5 trillion in Social Security/Medicare taxes received that are beyond the individual income tax rate.

Think of it this way – If you have $4 to spend at the grocery store (your budget), but the bus ride to the store costs $2.50, you could say the bus ride equals two-thirds of your budget. However, if I gave you the bus fare in addition to your $4 budget, you are not spending your budget on bus fare. This is the way SS/Medicare is handled in the budget.

Just like when we went through the “sequester cut Armageddon” narrative of 2012, the media relentlessly push this ridiculous fake term in order to make it appear the discretionary budget is much smaller than it is.

Simple common sense math you can do in your head, shows you how fake the term is. If the budget was actually $4 trillion, and entitlements came from that budget equaled $2.5 trillion (two-thirds) it would be impossible to cut $1 trillion out. Again, it’s common sense.

♦ President Trump is proposing a 10% first year increase in defense spending. That equals approximately $54 billion more for defense. If you look at the income from projected GDP growth (4% = $400 billion), you can see how easily that expenditure is covered.

♦ President Trump is proposing significant wholesale cuts to all other departments including Dept of State and EPA. The U.S. State Department has over 70,000 employees, that alone is ridiculous. Easily the DoS can eliminate 20% of staff, and find efficiencies well beyond those numbers.

Essentially, President Trump’s proposed outline is a decrease of 10% per department. Easily attainable, especially when you consider these departments have been operating at around 3% rates of growth due to nine years of base-line budget growth without a federal budget in place.

You only need to look back to 2006 to see federal spending was under $3 trillion. Fiscal year 2008 was the last year we had a federal budget in place. Every year since then has been continuing resolutions, omnibus spending, debt ceiling increases and base-line budget growth (spend 3% more) based on prior year expenditures.

President Trump is the first President in 30 years to actually propose a budget that reduces spending in whole numbers from the prior year.

This, if it happened, would be a good start. It would eliminate most new debt spending (if D.C. can stay out of illegal wars and let banks fail). It would, if it happens. That’s asking a lot in Washington, where they haven’t been able to put together a solid budget for a decade.

What this would not do is pay down any of the $20 Trillion federal debt (on books). And Congress, the CBO, and the Treasury Secretary formerly known as Goldman Sachs all expect the debt ceiling to be raised this Spring, dramatically. If there’s going to be no new debt, why raise it at all?

pres_budg_total_spending_pie

Plenty to work with/on. This is what the fools cobbled together last year for the present, 2017. Enough wasted money to colonize Mars. National Priorities.

The answer is that Trump can propose all he likes but the decisions lie with Congress. Their track record has been … what’s the word … hellish. Still, Trump seems to actually believe in what he says (rare) and seems willing to fight for it (rarer).

Between now and the Summer we are in for perhaps the greatest budget battle of the 21st Century.

And, again, this is all just a start. One day, sooner or later (and probably sooner), those “untouchable” entitlements will have to be addressed. The debt (on and off books) must be dealt with. We must finally stop being the world’s simultaneous policeman and bully. And we really need honest money.

Will trump get us there? Probably not though he is doing as admirable job as any could. If he needs an axe, I have one to lend. Or, give me one year and dictatorial powers and all these issues would be resolved. 2006 levels? I’d aim for 1786.No Tweets from me either.

We’ll start to get an idea tomorrow night. I’ll sharpen the axe this evening.

The ‘Happy Talk’ About Obamacare

23 Thursday Feb 2017

Posted by perrinlovett in Legal/Political Columns

≈ 2 Comments

Tags

GOP, government, John Boehner, law, ObamaCare, taxes

John Boehner says that everything Congress and President Trump has claimed about “repealing and replacing” the dying Obamacare system is mere “happy talk”. That, in Washington terms, means it’s a ruse to fool the rubes.

Congressional Leaders Honor Fresco Painter Of The Capitol Constantino Brumidi

Tears of happiness (talk). The High School Conservative.

Boehner is famous for resigning as Speaker of the House, tanning, smoking cigarettes, and crying. Yet, here, he may know what he’s talking about. Modern socialist Amerika will not tolerate a full repeal nor anything approaching free market principle in healthcare. And a full replacement may not be necessary to keep things limping along for a while.

Said Boehner:

“[Congressional Republicans are] going to fix Obamacare – I shouldn’t call it repeal-and-replace, because it’s not going to happen,” he said.

Boehner’s comments come as Republican lawmakers across the country are facing angry constituents at town halls worried that Obamacare will be yanked away without a suitable replacement.

President Donald Trump has said in recent days that he will release a plan by early to mid-March on how the administration plans to move forward on a repeal-and-replace plan.

On Thursday, Boehner said the talk in November about lightning-fast passage of a new health care framework was wildly optimistic.

Trump says “the healthcare” must be addressed before the tax reforms are introduced. And, again, all of this is promised sooner than later. And sooner than later does not seem lightning fast.

Developing (slowly) …

Taxing Matters, the Waiting Game

23 Thursday Feb 2017

Posted by perrinlovett in Legal/Political Columns

≈ Comments Off on Taxing Matters, the Waiting Game

Tags

1986, America, Congress, FOPA, government, gun control, law, taxes, theft

Bloomberg laments (or ponders) that it has been 31 years since the U.S. saw meaningful tax reform. They looked at what happened in 1986:

The result was a comprehensive bill that slashed individual and corporate rates while compensating for the lost revenue by closing loopholes. That meant eliminating tax advantages enjoyed by powerful interest groups like the oil and real-estate industries and overcoming their formidable allies in Congress.

On the way, the 1986 tax bill nearly died on multiple occasions as lobbyists pressed their cases. Throughout almost two years of debate and negotiation, the conventional wisdom was that the proposal would not survive. It was defeated once in the House. The Senate, with Democrats and Republicans equally beholden to special interests, appeared to be a certain graveyard.

Then, as the bill reached final passage, Senate Republican Leader Bob Dole marveled that in a matter of days, it went from “immovable to unstoppable.” It cleared the Senate by 97 votes to three. A combination of will, skill and ideological flexibility made it possible.

While pining for has-beens who occupied Congress for far too long, they also looked, tentatively, towards the rest of 2017.

Republicans envision a new sales tax on domestic and imported goods and services dubbed a “border adjustment tax,” a variation of a European-style value-added levy that would favor exporters like Boeing and Caterpillar over equally powerful consumer-product companies like Wal-Mart and Target, not to mention consumers themselves. There’s economic merit to the idea since it would raise money to enable rate cuts and avoids the crude protectionism that Trump has championed.

But it would create a big new tax, and already some House conservatives are objecting. So has the right-wing advocacy group Americans for Prosperity, which was founded by the Republican mega-donors Charles and David Koch.

Yes, the border tax. Therein could lurk the double-edge. The playing field needs leveling. The taxes might, or might not, do it. Cutting regulations and taxes, and reigning in the Fed certainly would. Who knows at this point? But, there is always some cause for concern.

In 1986, the tax cuts in some areas were accompanied by increases in others. Federal spending and debt continued to grow, unabated. Then there was the quiet inclusion in the deal of the Firearms Owners Protection Act (FOPA). FOPA did nothing to protect anyone other than federal bureaucrats. It drastically limited the number of available automatic weapons – driving costs through the roof and into the stratosphere. Gun grabbers were pleased. Most of the public didn’t notice.

The grabbers are still at work, recent defeats aside. I suspect they will at least attempt to introduce some type of gun control into whatever tax reforms Trump proposes this year. They must be defeated.

Then again, we now know very little about what is planned for the rest of this year. Treasury Secretary Goldman Sachs Steven Mnuchin says a major overhaul is coming by August. We will see.

President Trump will address Congress next Tuesday, his first State of the Union remarks. It is a given he will discuss, in some fashion, the need for tax reform, among other measures. Details have been short. He’s also due to present a budget to Congress in the very near future. Tax details may be in there as well – again, details are in short supply.

So we’re going to continue on, and we’re going to take this budget, which is — in all fairness, I’ve only been here for four weeks, so I can’t take too much of the blame for what’s happened. But it is absolutely out of control, and we’re going to do things that are going to be tremendous over the years. We have to take care of our military. We have no choice, we have to take care of our military. It needs work; it’s very depleted. And we have to take care of a lot of other things.

Healthcare is moving along nicely. It’s being put into final forms. As you know, before we do the tax — which is actually very well finalized — but we can’t submit it until the healthcare, statutorily or otherwise. So we’re doing the healthcare. Again, moving along very well. Sometime during the month of March, maybe mid- to early March we will be submitting something that I think people will be very impressed by.

-Trump, Budget Meeting, Feb. 22, 2017.

I hope there’s something in it to be impressed with. The healthcare (or lack) is a tax itself. And I’m not sure why they can’t be reconciled together. At any rate, this is wait and see at this point.

While we wait we can look back at the history of taxation in America, the last 104 years. Bloomberg provided this graph:

nimbus-image-1487859364957

So much can be learned by simply tracking those little lines. Before 1913, the tax rates were ZERO – no taxes. Then, just as soon as they were in place, they skyrocketed. Their trajectory closely follows wars, economic turmoil, and social spending boondoggles. Their decline since the 70s paces the insane growth of debt spending – again, the spending is not dependent of the taxes and it does not stop.

It’s too much to hope that Trump wants to return to a 1912ish sound government. Still, there’s a modicum of hope. Hope tinged with caution. Keep the guns, kill the taxes.

To Pay or Not to Pay: American’s Taxing Issues

17 Friday Feb 2017

Posted by perrinlovett in Legal/Political Columns

≈ 3 Comments

Tags

freedom, government, IRS, ObamaCare, taxes, The People

Last month President Trump ordered that heaven and earth be moved to spare Americans the financial horror and burden of the failing Obamacare boondoggle. It seems the IRS at least may have taken note. Rumor, and I need to look into this, has it that they will no longer require oppressed taxpayers to answer the little (penalty ridden) question about yearly coverage.

Following President Donald Trump’s executive order instructing agencies to provide relief from the health law, the Internal Revenue Service appears to be taking a more lax approach to the coverage requirement.

The health law’s individual mandate requires everyone to either maintain qualifying health coverage or pay a tax penalty, known as a “shared responsibility payment.” The IRS was set to require filers to indicate whether they had maintained coverage in 2016 or paid the penalty by filling out line 61 on their form 1040s. Alternatively, they could claim exemption from the mandate by filing a form 8965.

For most filers, filling out line 61 would be mandatory. The IRS would not accept 1040s unless the coverage box was checked, or the shared responsibility payment noted, or the exemption form included. Otherwise they would be labeled “silent returns” and rejected.

Instead, however, filling out that line will be optional.

Consider this, if true, amnesty for people who actually deserve it. And hopefully by next year it will be a moot point. Trump is ready and Congress claims that they will act next month to repeal the lingering disaster of President What’s-His-Muslim. Of course, the GOP has said this for the past 6 years. Still, hope abounds.

Other Americans, those who normally love sending aid to Washington, are taking hope in civil disobedience. They are refusing to pay any federal income taxes. Because Trump.

Andrew Newman always pays his taxes, even if he hates what the government is doing with them. But not this year. For him, Donald Trump is the dealbreaker. He’ll pay his city and state taxes but will refuse to pay federal income tax as a cry of civil disobedience against the president and his new administration.

Newman is not alone. A nascent movement has been detected to revive the popularity of tax resistance – last seen en masse in America during the Vietnam war but which has been, sporadically, a tradition in the US and beyond going back many centuries.

“My tax money will be going towards putting up a wall on the Mexican border instead of helping sick people. It will contribute to the destruction of the environment and maybe more nuclear weapons. I think there will be a redistribution of wealth from the middle class to the wealthy elite and Trump’s campaign for the working man and woman was an absolute fraud. If you pay taxes you are implicated in the system,” said Newman, an associate professor of English and history at Stony Brook University on Long Island, part of the State University of New York.

“The government wants our money and if a lot of people were thinking about this kind of peaceful protest, it would get their attention,” he added.

I love the attention. I love civil disobedience and I hate taxes and all the evil they fund. I wish these folks well. And, Andrew is right: if everyone stopped paying – for any reason -maybe things would change. He hates the wall idea. I hate everything D.C. does and is.

3000

Probably not yours, Dearie. Scott Olson / Getty.

However, things like this usually don’t end very well. They usually end in prison. If Andrew doesn’t like his 1040 IRS number, he’ll hate his B.O.P. number.

Still there’s that hope thing.

The Screws Tighten: Cashing Us Out

14 Tuesday Feb 2017

Posted by perrinlovett in Legal/Political Columns, News and Notes

≈ 3 Comments

Tags

banksters, cash, evil, government, money

All is well on Wall Street. Goldman Sachs Steven Mnuchin has been confirmed as Treasury Secretary. Janet Yellen is up to something. It’s all good for them. And that’s what really matters. The government and its banking owners get complete discretion to do whatever they please. And they are utterly unaccountable to anyone (impossibly improbable war of righteous vengeance aside).

For you, it’s a different story. You must be controlled in everything you do and at all times. And the controls are coming for your cash money, for the money itself, for you.

The time will come when you won’t be able to buy a cup of coffee without being traced, warns investment guru Jim Rogers. To control people, governments will increasingly seek to hunt down cash spending, he adds.

“Governments are always looking out for themselves first, and it’s the same old thing that has been going on for hundreds of years

…

“When it’s done, the governments are going to be very, very happy they are going to say they’re doing it for our own good, this is not them, this is for our good. That they’re doing this, but it’s coming, and it’s going to be a whole different world in which we live. Probably we are not going to have as many freedoms as we have now even though we are already losing our freedoms at a significant pace,” Rodgers told the radio.

It’s not really your money. All money belongs to the Big Club. They just let you borrow it, in very small amounts, for a time. But the anonymity of cash bothers them. They want you on a digital leash. And that’s exactly what’s coming. Leashed like animals “for your own good”.

digital-currency-wealth-confiscation-made-easy-622x415

Sovereign Investor.

The saddest part is that most people won’t just accept this, they’ll probably demand it.

Me? I’m thinking it may almost be time to water Jefferson’s tree.

Congressional Republicans, The Ever Evolving Definition of “Pitiful”

11 Saturday Feb 2017

Posted by perrinlovett in Legal/Political Columns

≈ Comments Off on Congressional Republicans, The Ever Evolving Definition of “Pitiful”

Tags

Congress, Donald Trump, GOP, government, insanity, ObamaCare, Republicans

Or is that “devolving”?

The only character from fiction that even comes close to approximating the pathetic, stupid, useless, and tortured evil of the GOP is Gollum. Even he falls short, he having some unique talents and an ultimate, if unlikely, purpose.

I honestly see no redeeming value to the Republican Party. They lack even comedic value. Note: Trump is a titular “Republican” only; President Trump is really a …. Trump. Love him or hate him. he sure as hell tries. And he seems to have fun with. And he exhibits a devil-may-care attitude. This all may or may not turn out well but it is undeniably more noble than the righteous do nothing but still manage to screw up anyway insanity of his party.

The Democrat Party also stands head and shoulders above the GOP as a party – usually. They took a beating from Trump and are in understandable disarray. Again, love ’em or hate ’em, they command a certain level of respect due to their tenacity and consistency. They want to redefine the demographics of the U.S. – they do it. They want to crash Western civilization – you know when they try. They say they’ll socialize something – done. They want to raise taxes – done. Whatever it is, good or bad, they get it done.

The Republicans seem to have existed lately only to provide weak, nominal resistance to the ultimate Democratic victories. And that’s it. They have no strategy and no ability to lead independent or their sad, schizophrenic dependency. I think the last Republican with a will of his own was Abraham Lincoln (and that will was to wreck the Constitution and kill people).

Yes, yes, Republicans do a good job of throwing bombs and raising debt levels. But they always do so only with copious Democratic assistance.

So it is that the GOP has absolutely no idea what they’re doing with regard to Obamacare, the ACA:

Republicans love cutting taxes, especially if they were authored by a president named Barack Obama. But as they push their wobbly effort to erase his health care overhaul, they’re divided over whether to repeal the levies the law imposed to finance its expanded coverage for millions of Americans.

It’s a trillion-dollar dilemma – actually closer to $1.1 trillion. That’s the 10-year price tag the nonpartisan Congressional Budget Office puts on revenue the government would lose if the law’s taxes on wealthy people, the insurance and pharmaceutical industries and others were eliminated.

Republicans and President Donald Trump have been edging away from their promise to quickly eliminate Obama’s entire law. Still, annulling its taxes would be a partial victory and is irresistible for many GOP lawmakers and the conservative voters at the core of their support.

“We should do full repeal,” said Rep. Jim Jordan, R-Ohio, a leading House conservative. “And full repeal means not taking the taxes” from people.

Yet voiding those levies erases a mammoth war chest Republicans would love to have – and may well need – as they try replacing Obama’s law. It’s a major rift GOP leaders face as they try crafting a health care package that can pass Congress.

“These are sources of revenue you just can’t discount,” said Rep. Patrick Meehan, R-Pa., a member of the Tuesday Group of GOP pragmatists. He said the money could help “create a soft landing and coverage for those who currently rely on Obamacare.”

Imagine a fool (the GOP), standing on the railroad tracks. Even the fool can see the flaming wreck of a train (Obamacare) speeding towards him. All he has to do to save himself is step off. However, this fool is so stupid that all he can do is equivocate about stepping left or right. At the same time he obsesses about the kinetic value of the train and how to possibly replace it with yet another flaming wreck. The train is seconds away from impact.

This scenario would be hilarious except that, in our case, the fool’s demise will derail the train, crashing it into our house.

you-cant-fix-stupid

Whatever. The Masters is only a few weeks away…

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Perrin Lovett

From Green Altar Books, an imprint of Shotwell Publishing

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