Tag: barack obama

Categories
free trade & free markets national politics & policies too much government

Blame Policy

Petroleum-​based fuels are going up in price, so naturally people start looking for someone to blame. Call up the Usual Suspects:

  1. Speculators. These futures market folks never get credit for lowering the prices of gas, but they can always be counted on to serve as easy “bad guy” targets when prices go up. Same this time. You’ve heard the rumors, the rancor. (It’s nuts.)
  2. President Obama. You know, for not allowing drilling and pipelines and such. Go to a meeting of conservatives and you’ll hear someone yell out “Drill, baby, drill!” Now, I’m all for drilling, and it’s stupid to clamp down on future supplies of oil — indeed, investors in the futures market for oil see these political and bureaucratic restrictions on exploration and mining and refining, etc., and no doubt bid up the price of oil — but really, don’t blame just Obama, blame, also,
  3. Romney and Santorum and Gingrich. All these presidential candidates have engaged in hysterical, belligerent rhetoric about Iran, threatening warfare in the Persian Gulf region. War is bad for supply lines. Compromising supply lines means compromised supplies. Which means less oil. Which means rising prices.

So of course futures traders will bid up those prices — they would lose money if they didn’t — and in so doing they make the likely future conditions palpable to contemporary decision makers.

That’s their economic function. Don’t blame the messenger.

So, if you think the U.S. should bomb Iran to prevent that country from bombing the U.S. in a few years (after which the U.S. could easily make the populous nation, full of innocents, a sea of irradiated glass), don’t gripe.

One consequence will be (must be) rising prices.

This is Common Sense. I’m Paul Jacob.

 

Categories
incumbents national politics & policies too much government U.S. Constitution

Emperor Obama

People change.

George W. Bush won the presidency pledging a dose of “humility” in our foreign policy and forswearing the temptation to rebuild failed foreign states. But after the 9/​11 attacks, the U.S. went to war in Afghanistan and Iraq … followed by even more deadly and difficult nation-​building efforts.

Presidential powers expanded.

Along came Barack Obama, the peace candidate. His advantage in winning the 2008 Democratic Party nomination was his unequivocal opposition to the Iraq War. Meanwhile, then-​Senator, now Secretary of State, Hillary Clinton had voted to give Bush congressional approval to launch that war.

During the campaign, Obama recognized constitutional limits on the commander-​in-​chief: “The President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation.”

But as president, Mr. Obama launched air strikes against Libya without congressional authorization. In fact, he refused to even report to Congress as required by law.

And then last week, Sen. Jeff Sessions (R‑Ala.) asked Defense Secretary Leon Panetta, “Do you think that you can act, without Congress, and initiate a no-​fly zone in Syria, without congressional approval?”

“Our goal would be to seek international permission,” Panetta replied, and then added, “and we would come to the Congress and inform you and determine how best to approach this.”

A republic? America goes to war on the order of one man: Emperor Obama.

But empires change. Past empires rarely asked foreign permission for their military adventures.

This is Common Sense. I’m Paul Jacob.

Categories
general freedom U.S. Constitution

A Serious Mistake

“I have signed this bill,” President Barack Obama said months ago about the National Defense Authorization Act, “despite having serious reservations with certain provisions that regulate the detention, interrogation and prosecution of suspected terrorists.”

Those provisions include the indefinite detention of U.S. citizens without trial.The Fifth Amendment

Former President George W. Bush had tried that with Jose Padilla; now, courtesy of President Obama’s signature, the policy is codified into law.

“Let me be clear,” U.S. Attorney General Eric Holder told a university audience yesterday, “an operation using lethal force in a foreign country, targeted against a U.S. citizen who is a senior operational leader of al Qaeda or associated forces, and who is actively engaged in planning to kill Americans, would be lawful …”

Holder goes on to say that “a thorough and careful review” by the government would be required, and that capture must not be “feasible,” and that the hit be “conducted in a manner consistent with applicable law of war principles.”

But something is missing. There’s absolutely no check on this awesome power. No due process. No day in court to contest the government’s “thorough and careful review” and avoid an unjustified death by bullet or drone strike.

Moreover, these extraordinary powers, which obliterate all basic legal protections going back to 1215 AD, are for the execution of an undeclared war against a concept, “terrorism,” vague enough to provide a state of permanent war.

Asked about Holder’s position, presidential candidate Ron Paul warned, “If the American people accept that, it’d be a serious mistake.”

This is Common Sense. I’m Paul Jacob.

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too much government video

Video: Why Obama Ditched Deficit Reduction

The biggest issue of our time, swept under the rug:

Categories
national politics & policies too much government

Volt Gives Taxpayers a Jolt

Government Motors — er, I mean General Motors — has sold approximately 6,000 Chevy Volts, its plug-​in electric/​hybrid gas-​burner car. Is that good or bad?

Analyzing the various state and federal government subsidies to GM as well as to suppliers of batteries and other parts for the Volt, James Hohman with Michigan’s Mackinac Center for Public Policy estimates that each car sold could cost taxpayers $250,000.The Obamobile!

Hohman admits it’s hard to be certain of the precise subsidy level because of various government incentives that may or may not get triggered, but whether $50,000 per car or $250,000, a lot of taxpayer cash has been sunk into a make that still sells for over $30,000 (and usually closer to $40,000). Nor does Hohman’s analysis include a penny of the $50 billion dollars in TARP funds taxpayers put into GM, giving the federal government an ownership stake in the automaker.

Twisting the knife another turn, GM now lobbies state governments for more handouts. Justin Owen, president of the Beacon Center of Tennessee, wrote recently in the Daily Caller: “Rather than retool its business model to become competitive in the free enterprise system, GM turned to … another $1.7 billion in taxpayer-​funded grants and tax abatements, not from the federal government, but from states across the country.”

When GM built cars without subsidies, it produced jobs and profits and wealth. That’s all good. But having auto companies sell cars at a couple hundred thousand dollar loss per vehicle sorta takes the fun out of it.

This is Common Sense. I’m Paul Jacob.

Categories
national politics & policies video

Video: Obama’s Record Won’t Play

In my Townhall column today – The fickle finger of fairness? – I took President Obama at his word: “No bailouts, no handouts, and no copouts.” But as seen in this week’s video, below, others (like ABC’s Jake Tapper) think Obama is practicing class warfare to distract from all his landmark legislative achievements – which are so incredibly unpopular one might question the use of the word “achievement.”