Thomas Sowell sums up the current game of debt-ceiling chicken being played in Congress and the White House. Be sure to check out other Sowell articles at the this website.

The big news, as far as the media are concerned, is the political game of debt-ceiling chicken that is being played by Democrats and Republicans in Washington. But, however much the media are focused on what is happening inside the Beltway, there is a whole country outside the Beltway — and the time is long overdue to start thinking about what is best for the rest of the country, not just for right now but for the long haul.

However the current debt-ceiling crisis turns out, the current economic turmoil in financial markets around the world should cause some serious thoughts about the long run, and about the whole idea of a national debt-ceiling.

Some people may have been shocked when the credit-rating firm Moody’s recently suggested that the debt-ceiling law be repealed, in order to avoid fiscal crises which can throw world financial markets into turmoil that can injure countries around the world.

Anyone who wants to show that Moody’s is wrong should be prepared to show the actual benefits of the debt-ceiling, not its goals or hopes. That will not be easy, if possible at all.

Too many policies, programs and institutions are judged by what they are supposed to do, rather than by what they actually do and the consequences of their actions. The United Nations, for example, survives as a glorious idea, despite how corrupt, counterproductive and even dangerous its actions are.

The national debt-ceiling law should be judged by what it actually does, not by how good an idea it seems to be. The one thing that the national debt-ceiling has never done is to put a ceiling on the rising national debt. Time and time again, for years on end, the national debt-ceiling has been raised whenever the national debt gets near whatever the current ceiling might be.

Regardless of what it is supposed to do, what the national debt-ceiling actually does is enable any administration to get all the political benefits of runaway spending for the benefit of their favorite constituencies — and then invite the opposition party to share the blame, by either raising the national debt ceiling, or by voting for unpopular cutbacks in spending or increases in taxes.

The Obama administration is a classic example. When all its skyrocketing spending bills were being rushed through Congress without even being read, the Democrats had such overwhelming majorities in both the Senate and the House of Representatives that Republicans had all they could do to get a word in edgewise — even though their words had no chance of stopping, or even slowing down, the spending of trillions of dollars.

Now that the bill is coming due for all that spending and borrowing, Republicans are suddenly being invited in to share the blame for either raising the national debt ceiling or for whatever other unpopular measures will be legislated.

Many years ago, someone said, “If you didn’t invite me to the big take-off, don’t invite me to the crash landing.” This was Obama’s big spending spree, but “bipartisanship” requires Republicans to either split the bill or be blamed if the government shuts down or defaults.

What would happen if there were no national debt-ceiling law?

Those who got the political benefits from handing out trillions of dollars of the taxpayers’ money (plus borrowed money) would also get the clear and sole blame for the resulting skyrocketing national debt and all the unpopular consequences.

Those people who want serious and substantial spending cuts are absolutely right in what they want. There are not only government programs that need to be cut but whole government agencies, including Cabinet-level Departments, that are not merely useless but positively harmful on net balance.

There are a lot of things that could be cut, and should be cut, instead of defaulting on the nation’s debts. But that is not likely to happen, if Obama and his media chorus can instead blame the Republicans for forcing a government shutdown or a credit default.

Regardless of how the current crisis is resolved, Moody’s suggestion of repealing the national debt-ceiling law deserves some very serious thought, because that law is the crucial factor in the political games that allow big spenders to blame others for the consequences of their own irresponsibility.

Those who say that the reckless spending and reckless borrowing of the Obama administration are the roads to ruin are absolutely right.

Too many policies and institutions are judged by what they are supposed to do, rather than by what they actually do.

~Boo

 


It takes quite an ass to steal the show at a royal wedding, but the world’s eyes couldn’t help but steal a few glimpses at Pippa Middleton’s rear during her sister’s wedding to Prince William. So of course a Miami plastic surgeon is claiming her assets have created a collective craze for butt enhancement surgery.

Pippa's Ass

The not-quite-publicity-shy Dr. Constantino Mendieta, whose website, mind you, is ButtsByMendieta.com, tells NewsCore that Pippa’s pooper is all the rage.

“The latest craze here in the US and all over the world is to get the ‘Pippa Butt Lift,’” Mendieta says. “Once the breast implants reigned supreme, now it is the buttocks that are considered a woman’s best asset.”

Mendieta claims Pippa has even stolen the title of world’s favorite ass from Kim Kardashian and Jennifer Lopez.

“Both have tremendous curves and large buttocks. While lots of people love the overall shape of those women, many felt those derrieres were just a bit too big,” he says. “But ever since the royal wedding, Pippa Middleton has become the new queen of the booty.”

~Boo

 

Barack Obama’s Opinion on Debt in 2006

On March 20, 2006 the National Debt stood at $8.3 TRILLION BUCKS.

Quote:

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies…

Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”

- Sen. Barack Obama (D-IL), March 20, 2006

Sen. Barack Obama (D-IL) and ALL Democrats voted AGAINST increasing the National Debt.

For those of you that would still consider voting for Obama in the next presidential election, I question your intelligence or shall I say your lack of intelligence. This guy has absolutely no clue what he is doing or even saying half of the time. What changed from the time he was a Senator in 2006 until today when he is president and calling for raising the government’s credit limit again.

Both parties are responsible for this out of control spending and it simply has to stop before we end up like Greece. No person or entity can continue spending 40% more than they take in each and every year without eventually going bankrupt. It is simple logic and anyone with half a brain should understand this.

The problem lies with the career politician. The career politicians do any and every thing in their power so that they will be re-elected each time their term expires. If politicians weren’t so hell bent on being re-elected, they just might stick with their principles and do what is right for the country.

Both Democrats and Republicans bring as much pork back to their constituents as they can so they have a better chance of being re-elected. Therein lies the root of a lot of the government’s wasteful spending.

The Democrats not only bring the pork back like the Republicans do, but they also try to provide as many handouts to the masses as they can, so they will also be re-elected. I would argue that Democrats have no aspirations for the poor and lower middle class to move up the socio-economic ladder. The Democrats main base is made up largely of the free loaders and poor people. The more people that move up the economic ladder, the less they have to rely on the government for their livelihood, thus the less influence the Democrat politicians appear to have over them.

It’s time for the citizen’s to start voting these self serving politicians out of office for good.

~Boo

 

Larissa Riquelme

Check out the gorgeous Larissa’s additional pictures below. By clicking on the thumbnail, you may view the full size of the picture.

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Larissa Riquelme

 


Citing “people familiar with the matter,” the Journal reported on Tuesday that members of Apple’s board discussed CEO succession options with executive recruiters. They are also alleged to have spoke with the head of one high-profile technology company.

“The conversations weren’t explicitly aimed at recruiting a new chief executive and were more of an informal exploration of the company’s options, said these people,” the report said. “The directors don’t appear to have been acting on behalf of the full board, some of these people said. Apple has seven directors, including Mr. Jobs.”

The authors said they reached out to Jobs in an e-mail on Monday with a series of questions. The chief executive reportedly responded with: “I think it’s hogwash.”

The alleged discussions on the part of board members are said to have taken place after the company announced earlier this year that Jobs would take another medical leave of absence from the company. Three people reportedly said that “a couple” of Apple’s directors held talks about the company’s leadership after they were informally approached by recruiters with search firms.

“Apple’s directors have made no decision about whether to retain executive recruiters, these people said. Some of the people who talked with Apple directors said they considered the conversations to be more than the routine discussions that they typically have with board members.”

A person who anonymously spoke with the newspaper revealed that Apple’s independent board members have discussed succession in private sessions without Jobs for the last 12 years. They said investors will only learn of Jobs’ successor when he decides to retire or if the board ousts him. They also reportedly acknowledged that any departure of Jobs “is going to be traumatic” for the company.

Chief Operating Officer Tim Cook is labeled as a “leading candidate” for the CEO role should Jobs leave, though it was said that Apple’s directors have a list of criteria they would like to have in the company’s next chief executive.

~Boo

 




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