Post Scripts

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Posted by Tina

The progressive democrats keep yammering about the swell job they are doing with the economy. Their recent tax increase victory in the cliff deal has them busting out the confetti and balloons but according to Moody’s chief economist, Mark Zandi, Pantheon Macroeconomic Advisors chief economist Ian Shepherdson, and Gallup chief economist Dennis Jacobe agree it really just puts us another toe over the cliff. Investors Business Daily reports their view:

Moody’s Analytics chief economist Mark Zandi says the higher taxes on the wealthy and the increase in payroll taxes will shave close to 1 point off GDP growth this year and result in 600,000 fewer new jobs.

Pantheon Macroeconomic Advisors chief economist Ian Shepherdson figures the deal will cut GDP by 1.5 points. And Gallup’s chief economist Dennis Jacobe says the deal has created a “higher probability of recession — just the opposite of what fixing the fiscal cliff was intended to do.”

They went on to say that the creation of more tax brackets will complicate tax reform and referred to the historic record on raising taxes:

Tax hikes rarely produce as much revenues as expected, particularly when they’re targeted at the rich, who can more easily avoid the new taxes.

President George H.W. Bush’s tax hikes in 1990 generated $135 billion less than expected. (CBO?) And revenues as a share of GDP came in lower than predicted after Clinton’s tax hikes went into effect.

In a separate article Moody’s warned that the fiscal cliff deal will not help America avoid another downgrade:

The credit rater said the deal hammered out by Congress and the White House on taxes is merely a first step, and the U.S.’s credit rating could be affected “negatively” if Washington fails to take further steps to rein in the deficit. In fact, it said it was “necessary” for policymakers to adopt further measures to bring down the deficit to keep the U.S. rating intact.

Moody’s called the compromise a “further step” in clarifying the nation’s debt trajectory, but said it was far from sufficient.

Sounds like these credit guru’s want a more balanced approach to the problem than Obama and Reid demanded and got in this deal. So far the progressive democrat syndicate and their godfather have only delivered higher taxes; more spending and regulation; and a lukewarm economy with high unemployment, and stagnant wages.

This is a certainty in today’s world: We can count on progressive democrats to be obstinate, arrogant, and anything but fair about anything.

Gotta get this posted…I have a date to watch “Mars Attacks”…I need a good laugh and it never fails to amuse. Night all.

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by Jack Lee

As the facts about what was in the 150 page fiscal compromise bill becomes known,l voters who must pay for it are shocked and appalled!

The inclusion of so much pork amid a dramatic and sometimes raucous year-end debate over our debt makes you wonder if it wasn’t all just theatrics to fool the little people? It seems incredible that after decades of us little guys haranguing Congress over irresponsible pork spending that in the 11th hour of our financial faltering these these crooks in blue suits, have the audacity to stick it to us again?

The obvious conclusion to be reached here is a majority of those serving in Washington are irredeemably corrupt or incompetent! How else can you explain their conduct? That reminds me, didn’t Obama make a promise that his administration was going to be pork free? Yeah, he said that, but if he had said free pork, he would have been more truthful. Well, that pork isn’t free…it’s costing us dearly every year and right when we’re at the edge of the fiscal cliff they pork us one more time! Wow, now that is audacious, even for Congress.

Under the pork plan the federal government would extend special tax credits for their most favored businesses. That’s worth about $200b in unrealized (lost) tax revenue, but at the same time they failed to cut an equal amount from other federal programs as an offset thus adding to, not decreasing, the deficit. How stupid is that?

Now the pork report:

•$430 million for Hollywood through “special expensing rules” to encourage TV and film production in the United States. Producers can expense up to $15 million of costs for their projects. (CA also passed special interest bills for Hollywood)

•$331 million for railroads by allowing short-line and regional operators to claim a tax credit up to 50 percent of the cost to maintain tracks that they own or lease. (CA passed a lot of railroad pork, mostly for the high speed rail to nowhere)

•$222 million for Puerto Rico and the Virgin Islands through returned excise taxes collected by the federal government on rum produced in the islands and imported to the mainland.

•$70 million for NASCAR by extending a “7-year cost recovery period for certain motorsports racing track facilities.”

•$59 million for algae growers through tax credits to encourage production of “cellulosic biofuel” at up to $1.01 per gallon.

•$4 million for electric motorcycle makers by expanding an existing green-energy tax credit for buyers of plug-in vehicles to include electric motorbikes. (This goes mostly to CA where electric vehicles is a green boondoggle mandated by CA state government)

Kudos go to the House GOP lawmakers gave for not addressing the $60b disaster relief for “Sandy” was the pork written in by their sellout Republicans in the Senate. Check out this pork: $56.8 million for charting the debris from last year’s Japanese tsunami? Tracking ocean flotsam (junk) costs $56 million? $41 million for eight military bases including Guantanamo Bay; this has absolutely nothing to do with Sandy! Or how about the $5.3B to the Army Corps of Engineers, that is more than their annual budget. $100 million for the federal Head Start day care program – yes, I said day care, it’s in there too. Then there was the $188 million for new Amtrak lines. This is not for repairs, it’s for new track! There’s more, much more but I think you get the picture and this why lawmakers wanted to pass on it until the next Congress could be seated. I don’t blame them for passing over this so-called relief bill, especially considering the lousy Fiscal Cliff Bill they just passed. Both of these bills coming at once would have surely caused riotous repercussions for them back in their home districts.

by Jack

We’ve avoided doing something meaningful. Just another tepid response to a crisis that demands more of our Congress people than they are apparently capable of delivering.

“This is a bad bill that made a bad situation worse,” Richard Haas, the president of the Council on Foreign Relations. “The only thing it did was avoiding sending the signal (to the rest of the world) that we’re reckless and out of control,” he added.

Thanks to this grand failure by Congress we can all expect more economic drama coming our way soon. To say that I’m really disappointed with the GOP is an understatement. This was a missed opportunity to do something meaningful and restore some of that lost confidence in the party of Lincoln. Here’s a new year’s prediction, this is going to come back to haunt the GOP in the next election cycle. They lost ground in the November election and they’ve done nothing to enhance their position with the voters for the next election.

Now here’s a few comments from some others that know far more about this situation than we will ever be privileged to know or perhaps understand: Erskine Bowles and Alan Simpson, who headed a deficit commission said in effect, this was our chance to do something about reducing our long term fiscal problems and we totally blew it. The Wall Street Journal probably had the best editorial on this. Here’s an excerpt; “”Having been cornered into letting Democrats carry this special-interest slag heap through the House, Speaker John Boehner should from now on cease all backdoor negotiations and pursue regular legislative order. House Republicans should pursue their own agenda and let Mr. Obama and Senate Democrats pursue theirs. Mr. Obama has his tax triumph. Let it be his last,”

The republicans were outplayed by Obama, it’s that simple. They were cornered because they didn’t have the courage or the moxie to stick with their convictions. Now n Obama looks stronger and smarter to his base than ever and that’s not good for the republicans and it’s sure not good for our fiscal future!

Some key republicans can go around crowing that they held out for the best compromise possible, but I see this akin to Neville Chamberlain landing at the Neston Aerodrome, c1938, waving a piece of paper on high and claiming peace in our time! That celebrated document was short lived and it became known as the Munich agreement, signed by Heir Hitler to avoid a world war. Well, you know how that worked out and this appeasement with Heir Obama will fare little better. It will not avert the financial cliff we keep drawing closer too. This is still a pay me now or pay me later situation.

Posted by Tina

At the final hour Congress passed the legislation to avoid the cliff. ALL taxpayers will see higher taxes EXCEPT Obama’s big money supporters who get an extension of their tax loophole breaks. That would be Hollywood and Silicon Valley. The Social Security tax comes to an end and taxes on persons making $400-450K will be higher, taxes on dividends and interest go up, and the death tax rate goes up.

Two million people on unemployment will be forced to continue living off the government; unemployment benefits were extended again, the Democrat jobs solution.

People who like dairy can breathe a sigh of relief until September; dairy subsidies were extended as prices were expected to double.

Congress CANCELLED its pay raise to appease angry voters.

Dissenting Republican opinion was best expressed by retiring Rep. Steven C. LaTourette (R-Ohio), “We should not take a package put together by a bunch of sleep-deprived octogenarians on New Year’s Eve.” That was a direct hit on the old white guy Reid, leader of the Senate. Boehner is said to have uttered the F word in parting.

The American people did not realize ONE SINGLE DIME IN SPENDING CUTS.

The Washington Post:

The bill drew 85 votes from Republicans and 172 from Democrats, meaning well more than half of its support came from the Democratic minority.
With 151 Republicans voting “no,” the GOP tally fell far short of a majority of the GOP caucus. That broke a long-standing preference by Boehner to advance only bills that could draw the support of a majority of his Republican members.

In a sign of the moment’s gravity, Boehner himself cast a rare vote: He supported the bill. So did Rep. Paul Ryan (Wis.), the GOP’s vice-presidential candidate last year, who parted ways from Sen. Marco Rubio (R-Fla.), a potential 2016 presidential contender, who voted against the measure.

But other top GOP leaders voted no, including Majority Leader Eric Cantor (Va.) and Majority Whip Kevin McCarthy (Calif.).

THE PRESIDENT HAS GONE BACK TO HAWAII!

Why did he bother spending more taxpayer money to come back to Washington since HE DIDN’T SIGN the legislation?

New cliff fights await us. Geitner already announced that we reached the debt ceiling limit as of December 31st. The President wants the ceiling eliminated so he can have an open-ended credit card and unlimited spending authority.

President Obama’s approval rating from Gallup on his handling of the economy has hit a
NEW LOW of 26%.

The stock market is up; certainty about taxes is better than uncertainty and BIG corporations can now plan. The big guys can afford the rate changes but the change will
produce a 1% -1.2% drag on the economy.

Republicans will continue to attract the focus of the nations ire even though this is not their plan. Americans have a crazy method for finding fault. We have just been run over by a truck and the people will blame the police officer attempting to direct traffic away from them instead of the idiot behind the wheel determined to run over them.

Oh well as they say, elections have consequences.

The Senate-passed fiscal cliff bill that House Republicans now are debating is a “complete rout for Democrats” and ‘”complete surrender” for the GOP, conservative columnist Charles Krauthammer said Tuesday.

Read the full story, left click here.

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Post Scripts has long been dedicated to bringing you factual information you can use. We still believe in that, but 2013 is going to be a tough year at PS for some people who find themselves in our cross hairs. We going after the crooks, the deadbeats and corruption in politics in a big way this year!

This is y-o-u-r free speech forum – use it! You don’t need to agree with us on every issue, you just need to be informed and contribute to the knowledge shared here every day. That’s our mission for 2013 – Post Scripts will be exactly what you help us make it! Now let’s get researching, thinking and doing!

Here’s to our faithful Post Script friends as we begin the year 2013. Jack and Tina wish all of you a healthy and prosperous year…with many enlightening days spent blogging for the health and prosperity of our nation!

We do enjoy the special relationship we have with all of you and look forward to another year of verbal tug-of-war.

Posted by Tina

Remember back when President Obama was speaking with Dimitry Medvedev and, unaware of an open mike, he said, “This is my last election … After my election I have more flexibility?” They were at a global nuclear security conference in Seoul and Medvedev assured Obama that he would relay the message to Vladimir Putin. Turns out he does believe he has “more flexibility”…

Friday’s Wall Street Journal featured an article written by John Bolton and John Woo describing a plan to bypass the Congressional process as a means of eliminating nuclear weapons. A mob boss agreement between Putin and Obama is an idea hatched by a State Department “advisory group”.

The Journal article is by subscription only but Breitbart Big Government is passing some of the information along:

…a State Department advisory group that is run by former Secretary of Defense William Perry is advising that the U.S. and Russia both reduce nuclear weapons without a treaty, as a treaty would require ratification by Congress. This would allow Obama and his executive branch to unilaterally cut our nuclear weaponry and ignore the treaty clause of the Constitution.

Cutting our defenses, weakening our economy, giving aid and comfort to our enemies, giving short shrift to our allies, and ignoring the Constitution…is there anything here to indicate this man cares about America? I know he panders to our citizens and loves spending other peoples money to keep the “folks” in wide eyed states of adoration….BUT DOES HE CARE ABOUT AMERICA?

I don’t see anything in this mans character or actions to indicate he loves America.

Posted by Tina

Not just a guy flick…

This film is quite possibly the best movie I’ve seen in awhile. The story, based on the main character in a series of books by a British author, Jim Grant, is both intriguing and compelling. Yes, it has violence and guns in abundance but no more so than other movies of the type and the violence is tempered by a bit of humor and very good acting. Best of all, it contains a big win for the white hats. Get a ticket, grab some popcorn, and get ready for a very gratifying movie experience; you won’t regret it.