No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

Archive for January 8th, 2009

Scott Walker – Man of Principle Part 2

by @ 18:47. Tags:
Filed under Politics - Milwaukee County, Politics - Wisconsin.

Yesterday, I had a brief piece on Milwaukee County Executive Scott Walker’s refusal to belly up to the bailout teat. Predictably, ALL the teat-suckers, from the usual suspects with Ds behind their name (or those that would have Ds there if the County Board were a partisan office) to the opportunistic “business leaders” who have become dependent on the teat, attempted to throw Walker under the bus. Let me put it this way; they don’t know Scott. He launched a two-front counterattack this morning with WTMJ-AM’s Charlie Sykes. While you listen to a poor-quality rip of the interview (the better-quality version starts at the 37:39 mark of Part 1 of the official podcast), you may as well read the e-mail (“borrowed” from Charlie):

How many people would take a gift of $1,000 and go out and buy a $60,000 sports car? While the gift is nice, it will not make the monthly car payments that are too large for the average budget. The same is true with the (so-called) stimulus package.

Federal money nearly always comes with strings attached. In fact, most federal transportation grants require a 20% (or greater) local match. "Free money" sounds nice but what happens when state and local governments cannot afford the match? If Milwaukee County receives $50 million for infrastructure projects under this formula, taxpayers in the county would have to come up with an extra $10 million. Does anyone think we have an extra $10 million in this budget climate?

A real economic stimulus will put money in the hands of consumers – and not the government. Tax cuts work. They did for Ronald Reagan in the 1980s and they are exactly what John F. Kennedy called for in the 1960s. Each time, our nation got out of a recession by putting more money back into the hands of the taxpayers. The choice is simple: do we bail out failed governments with budget deficits or do we stimulate the economy and put more people back to work with real tax cuts at the federal, state and local levels? I choose the program that truly puts people back to work!

For the “benefit” of the outstate critics (I’m looking directly at you, Recess Supervisor), I’ll twist the knife just a bit – if adding “infrastructure” for the sake of adding “infrastructure” or creating make-work jobs were the solution, northern Wisconsin would be the economic magnet of the world.

I do need to give a shout-out to my county supervisor, Paul Cesarz. At the end of the Milwaukee Journal Sentinel story linked to above, he shows that he also gets the fact that resurrecting the Works Progress Administration will do no better the second time around.

Who’s Being Fooled?

by @ 10:08. Filed under Economy, Politics - National.

Dear President elect Obama,

Before you charge head long into this:

Obama Warns of Irreversible Economic Decline Without Action

Or this:

Obama predicts $1 trillion deficit ‘for years to come’

You may want to read, and seriously consider the implications of this:

U.S. debt is losing its appeal in  China

And this:

MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES

Sincerely,

Concerned Taxpayer

 

Here’s the boil down folks:

As of the end of October, before the really BIG debt sales, the US had increased it’s borrowings from foreign countries by 32% or $743B.   Of that increase, China took 26%, The United Kingdom took 28%, Caribbean banking centers took 14% and the remainder was spread throughout the world including $46 B to countries noted as “oil exporting countries.”

Do you see anyone in the current list of buyers that looks like their economy is doing well?

Do you see anyone in the current list that you would expect to be able to not only maintain their current debt purchases, but with softening economies, double or triple their purchases of US debt?

If China, who currently buys 26% of our debt, decides to cut back, do you see anyone ready, willing and able to not only increase their current purchases but pick up China’s part?

Obama and his administration have become solely focused on “stimulating the economy” and have gone so far as to say that they are not concerned about the consequences.   Somehow they would have us believe that they will find a magic pill to deal with those consequences when they come up.   The problem with this thinking is that it is the exact thinking that got us into this situation.

When Alan Greenspan and Ben Bernanke kept interest rates abnormally low from a historical to fuel growth for the past 10 years they didn’t worry about consequences.   Frankly, they didn’t think there were consequences.   Turns out they were wrong.   Now we know there will be consequences and we’re  choosing to ignore them.

Fool me once shame on you, fool me twice….

The Morning Scramble/Open Thread Thursday – 1/8/2009

by @ 8:27. Filed under Open Thread Thursday, The Morning Scramble.

It’s time for a deep cut…

[youtube]http://www.youtube.com/watch?v=V184OzzaH-M[/youtube]

  • Matt cheers the first blog-to-film project, “Taking Chance”. Before it airs on HBO February 21, do read the post over at BLACKFIVE In fact, go read it now, then come back for the rest of the Scramble/Open Thread Thursday.
  • What Could Possibly Go Wrong When We Tinker With Nature, Part I – Sean M. reports we’re a step closer to “Jurassic Park” with the decoding of the long-extinct wooly mammoth’s DNA.
  • What Could Possibly Go Wrong When We Tinker With Nature, Part II – McQ reports the
    Gorebal “Warming” acolytes are prepared to go all “Matrix” on the atmosphere to enforce their reality with an “emergency Plan B”. Where, oh where do I begin with this one?
  • Ed Morrissey laughs at the weakness of Not-So-Great Britain, which has started handing out heating subsidies for the first time in 10-year existence of the heating bailout program because they can’t handle 12-degree weather. I could offer the adivce of a former President….
  • Van Helsing found the North Sea freezing up in jolly old England. In light of that, I think will offer the Brits that advice – put some ice on it.
  • Fausta dubs Russian strongman Mad Vladmir Putin “Mr. Freeze” for shutting off the gas spigot to the Ukrane and the Balkans even as Europe freezes.
  • Bill Quick and Glenn Reynolds battle it out over the future of the price of oil. While I usually am a fan of history, I do have to note that in the aftermath of the 1979 OPEC shutdown, the threat of the US actually weaning itself off of OPEC was credible, while it is not credible now.
  • There are many places I could have gone for news of the adult entertainment industry’s bellying up to the bailout teat, but elliot’s headline/lede combo takes the cake.
  • Lance Burri is genuinely shocked that the ‘Rats in Madistan would reintroduce “Healthy” (and Depopulated) Wisconsin with thfe road to the federal version wide open. Of course, the fact that those clamoring for it snookered the populace into “supporting” it without mentioning that it was the $15 billion doubling $30 billion tripling of the total state tax take so vile that it was merely a budget negotiating point last year may have something to do with that.
  • Speaking of taxes, Mary Lazich compares the fastest-growing states to state/local tax rates. Other than California, Georgia and North Carolina (all of which have weather in their favor), the rest of the top ten have low taxes. Funny how that works.
  • Kathy Carpenter looks into the rather-substantial and -smelly relationship between stalled Senate-Designate Roland Burris (D-IL) and ethically-challenged Illinois governor Rod Blagojevich (D). I wonder if Harry Reid and company are going to up their asking price from Burris in response.
  • Flip found the #!@% ¿ Blagojevich Burger. While the guy who’s selling them won’t take less than $10, he’ll gladly take more because it is a “bleeping valuable thing…(only the bleeps aren’t really bleeps).”
  • Ken is struck by the similarities between murals of Barack Obama and murals of various despots (mostly Communists). Birds of a feather….
  • Fred asks, “What if Barack Obama was picking the Packers new Defensive Coordinator?” Don’t be afraid to answer, especially if you can beat my suggestion of Los Angeles Lakers coach Phil Jackson.
  • Jeff Wagner highlights the latest “victim” of the Culture of Badassery (©MKH). If only 70-year-old ladies couldn’t have handguns in the home, robbers could break in without worry of being held at gunpoint until the police arrive to arrest them </sarcasm_lefty>.

I WAS going to try to keep it under a baker’s dozen today, but there’s just too much goodness out there. I know I left more than a few bits out, so feed me.

President Elect Present Strikes Again!

by @ 5:53. Filed under Politics - National.

When asked today, what he thought about Ronald Burris being seated by the Senate, Barack Obama said:

“I know Roland Burris.   I think he’s a fine public servant. If he gets seated, then I’m going to work with Roland Burris just like I worked with all the other senators to make sure that the people of Illinois and the people of the country are served.”

Now I understand the whole “there’s only one President at a time,” theory.   It basically allows Obama to pick and choose which topics he wants to weigh in on and which he wants to be second guessing the current administration on.   However, if there was ever a topic that Obama should have an opinion on wouldn’t you think it would be this one?

One of the things  that I find completely amazing in the Burris saga is that Obama has had absolutely no comments about Reid’s refusal to seat the person who would be the only African American in the Senate.

According to the Chicago Sun-TimesHarry Reid talked to Illinois Governor Blagojevich telling him who he would accept as Blagojevich’s appointment.   According to the Sun-Times, Reid specifically lobbied against each of the potential candidates who were African American.

Under normal circumstances I wouldn’t even consider Reid’s comments as potentially racist.   But, that was before I saw the light according to Barack.   It is now clear to me that Reid’s insistence on not seating any of the African American candidates was specifically racist.   I only need think back to Obama’s perspective on a similar situation during the campaign.  

When I look at the three candidates that Reid specifically didn’t want nominated, I think “they don’t look like any of those   presidents on the dollar bills.”   Nor for that matter did any of them look like any of the other Senators seated in the chamber.   If the reasoning was good enough for Barack as a reason to become President why wouldn’t it be good enough to seat Roland Burris?

I Will Not Work For You Barack, I Will Not Work Without My Pork

by @ 5:42. Filed under Economy, Politics - National.

President Elect Barack Obama gave an extended interview to CNBC today.   Much of the interview focused on the economy and the stimulus package.   The full transcript is here.   The size of the stimulus package was discussed in this exchange:

HARWOOD: It looks like it’s going to be at the high end of your range, around $775 billion.

Pres.-elect OBAMA: That’s correct.

HARWOOD: If it’s correct that, as your aides have said, the danger is doing too little rather than doing too much…

Pres.-elect OBAMA: Right.

HARWOOD: …why stop at $775 billion? Why not go to the $1.2 trillion that some economists have recommended? …

Pres.-elect OBAMA: Well, first of all I think it’s important to note that every economist, conservative or liberal, at this point agrees that we have to have a substantial recovery plan that helps to jump-start the economy, that short term it’s going to be expensive, but it would be much more expensive to see the economy continue in the tailspin that it’s been going in. We’ve seen ranges from 800 to 1.3 trillion and our attitude was that given the legislative process, if we start towards the low end of that, we’ll see how it develops. We are concerned…

HARWOOD: It’s going to get bigger.

Pres.-elect OBAMA: Well, we don’t know yet. But what we are concerned about is making sure that the money is spent wisely, that there’s oversight, that there’s transparency…   (emphasis mine)

Transparency and oversight are great but what’s this nonsense about starting at the low end and negotiating up?   Didn’t Obama just yesterday say:

“he will not allow Congress to attach any of those earmarks — lawmaker’s pet projects — to the stimulus bill.”

If no “pork,” “pet projects” or “earmarks” are added to the bill, and Barack has done his homework, how would the stimulus bill grow by up to 80% from what Obama is proposing?   Maybe Obama is taking Harry Reid to heart when he was quoted as saying:

I will tell him. "¦ I do not work for Barack Obama.

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