Rational Nation USA
Cross posted to Left Coast Rebel.
When will leftists, Obama, and the progressive-collectivists admit that their Keynsian spending experiment is an unmitigated failure?
Economic statistics released Friday offered the clearest sign yet that the recovery, already acknowledged to be sauntering, had slowed to a crawl.
The government lowered its estimate of economic growth in the second quarter to an annual rate of 1.6 percent, after originally reporting last month that growth in the three-month period was 2.4 percent.
The news came at the end of a week that showed the economic retrenchment that began in the second quarter has spilled over into the summer. Existing home sales in July were down to their lowest level in a decade, and sales of new homes that month were at their lowest level since the government began tracking such data in 1963. Orders for large factory goods, excluding the volatile transportation sector, dropped in July, indicating that recovery in the manufacturing sector is also stalling.
With such grim reports, economists are now concerned that the outlook for job creation, which has been spluttering all summer, could deteriorate further. Companies and consumers tend to be spooked by bad news, and market analysts and economists worry that faltering confidence could cause employers to hold back on hiring.
The White House has lost Krugman? Perhaps but his solution is a Keynsian bridge to nowhere.
What will Ben Bernanke, the Fed chairman, say in his big speech Friday in Jackson Hole, Wyo.? Will he hint at new steps to boost the economy? Stay tuned.
But we can safely predict what he and other officials will say about where we are right now: that the economy is continuing to recover, albeit more slowly than they would like. Unfortunately, that’s not true: this isn’t a recovery, in any sense that matters. And policy makers should be doing everything they can to change that fact.In the case of the Obama administration, officials seem loath to admit that the original stimulus was too small. True, it was enough to limit the depth of the slump — a recent analysis by the Congressional Budget Office says unemployment would probably be well into double digits now without the stimulus — but it wasn’t big enough to bring unemployment down significantly.
Now, it’s arguable that even in early 2009, when President Obama was at the peak of his popularity, he couldn’t have gotten a bigger plan through the Senate. And he certainly couldn’t pass a supplemental stimulus now. So officials could, with considerable justification, place the onus for the non-recovery on Republican obstructionism. But they’ve chosen, instead, to draw smiley faces on a grim picture, convincing nobody. And the likely result in November — big gains for the obstructionists — will paralyze policy for years to come.
As you can see, this has come down to the wire and is still too close to call. Anchorage Daily News reports:
U.S. SENATE (R)
Joe Miller (R) 45,909 51.09% Lisa Murkowski (R) 43,949 48.91%
U.S. Sen. Lisa Murkowski is battling for her political life this morning against Republican primary challenger Joe Miller, the tea party-backed candidate who has a slim lead as ballots continue to be counted.Right Klik introduced us to Joe Miller recently:
Miller, a Fairbanks attorney, led from when the first returns came in Tuesday night and was on the verge of pulling off one of the biggest election upsets ever in Alaska.
With 429 of 438 precincts counted this morning,, Miller had 45,909 votes (51 percent) to 43,949 (49 percent) for Murkowski.
Miller credited the support of former Alaska Gov. Sarah Palin for his lead.
"I'm absolutely certain that was pivotal," he said.
Murkowski on Tuesday night took a shot at Palin, saying that when Palin resigned as governor last summer she said she would use her new national role to help out Alaska.
"I think she's out for her own self-interest. I don't think she's out for Alaska's interest," Murkowski said as she waited at her campaign headquarters for results to come in.
Miller made a triumphant entrance to election central at the Egan Center in downtown Anchorage on Tuesday night, surrounded by loudly cheering supporters with red-white-and-blue balloons.
Who is this Joe Miller? Miller is a US Army veteran who served in the First Gulf War, receiving a Bronze Star for his leadership. He's a lawyer who served as State Magistrate, Superior Court Master for the Fourth Judicial District, Acting State District Court Judge, and as U.S. Magistrate Judge in Fairbanks. In many of these posts - he was the youngest to serve in history. In 2004, he ran for State Representative in a Democratic district and lost by the closest margin the incumbent ever faced. In 2010, he decided to challenge Lisa Murkowski for US Senate - Alaska and the nation will be better off with him in office.I can't wait to see candidates like Joe Miller in Washington, come November! Visit Joe Miller's site here.
On the issues, Miller is right where the conservative movement needs to be. He's pro-life (Alaska Right to Life endorsed). He supports complete repeal of Obamacare and instituting free market reforms to health care. He opposes cap and trade. He supports a limited government and said, "We have little time to restore constitutional limits on federal power. I will be a catalyst to move those in Congress to make the tough, principled decisions needed to bring Washington back to the limited role anticipated by our Founders. We must act now."
There are those who continue to make the facile claim that any protest over Park51 is a display in un-American intolerance and contempt for the Constitution. This position treats criticism of faith—religious institutions and symbols included—as tantamount to "bigotry."
Even a newfound reverence for religious liberty on the left does not negate our right to protest and criticize the philosophical disposition of others. And applying public pressure in an effort to shut down a project is as American as protesting the arrival of a new Wal-Mart. Religious institutions, as far as I can tell, are not exempted from these disputes.
In 2008, thousands of gay-rights activists protested the Mormon temple in Westwood, Calif., for its role in passing Proposition 8—the ban on same-sex marriage. This grew into a national protest to undermine the influence of the Church of Jesus Christ of Latter-day Saints—even though not every Mormon was involved.
I don't recall anti-Mormon protesters being referred to as bigots for targeting religion; it appeared to be just the opposite, in fact.The left rediscovers religious liberty