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“Tracking The Truth, Because the Mainstream Media Won’t”

Archive for February 3rd, 2009

$2 trillion on top of the nearly $1 trillion stimulus package!

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Via(IBDeditorials)

$3 Trillion Gov’t Overdose Must Be Stopped

By LAWRENCE KUDLOW

Last week’s House tally on the Democratic stimulus package, where not a single Republican voted in favor, was another shot across the bow for this incredibly unmanageable $900 billion behemoth of a program that truly will not stimulate the economy.

Sure, the Democrats won on a party-line count. But Team Obama is now regrouping in the face of mounting criticism of this package.

GOP economist Martin Feldstein revoked his prior support of a stimulus plan in Wednesday’s Washington Post.

“In its current form,” Feldstein wrote, “(The plan) does too little to raise national spending and employment. It would be better for the Senate to delay legislation for a month, or even two, if that’s what it takes to produce a much better bill. We cannot afford an $800 billion mistake.”

Clinton economic adviser Alice Rivlin made the same point in testimony before the House Budget Committee. Her message: Divide up the package and slow down the process.

And Sen. Richard Shelby told CNBC that Washington should “shelve the stimulus package” and instead attack the banking and credit problem first — probably with a government-sponsored bad bank that would relieve financial institutions from their toxic-asset problem. Mr. Shelby believes the credit crunch remains the biggest obstacle to economic recovery.

Later in the day when I interviewed Senate Republican leader Mitch McConnell, he agreed with Shelby that the stimulus plan should be shelved.

For the first time — as far as I know — McConnell pledged to vote no on the package. Instead he wants larger tax cuts and smaller spending. McConnell might be willing to change his mind if the package changes, but he told me he didn’t expect that to happen.

And in what may prove to be the biggest stimulus-package hurdle of all, news reports suggest that Team Obama is contemplating as much as $2 trillion in TARP additions to rescue the banking system in one form or another. That would be $2 trillion on top of the nearly $1 trillion stimulus package.

Government spending, deficits and debt creation of this magnitude are simply unheard of. So the added TARP money will surely imperil the entire stimulus package as taxpayers around the country begin to digest the enormity of these proposed government actions.

Financing of this type would not only destroy the U.S. fiscal position for years to come, it could destroy the dollar in the process.

What’s more, the likelihood of massive tax increases — which at some point will become front and center in this gargantuan funding operation — would doom the economy for decades.

By the way, Scott Rasmussen’s latest poll shows that already — before the new TARP money is included — public support for the humongous stimulus package has dropped to 42%.

It remains to be seen whether Republicans can in fact stop the stimulus package, but that certainly would be a very good idea. The long-run financial consequences will certainly force higher future tax rates — a prosperity killer feared by Arthur Laffer.

And while all the social spending gets baked into the long-run budget baseline, the short-run implications of the plan have little economic-growth potential.

Meanwhile, there’s no shortage of alternative tax proposals that would truly re-ignite the economy.

Former Ronald Reagan and George W. Bush economist Larry Lindsey criticized the Democrat package in Wednesday’s Wall Street Journal, describing it as “heavily weighted toward direct government spending, transfers to state and local governments, and tax changes that have virtually no effect on marginal tax rates.”

Instead, Lindsey proposes a big payroll tax cut that would slice three points off the rate for both employer and employee.

Rush Limbaugh also made an appearance in the Journal. He has a clever idea to give Obama 54% of the $900 billion package — equating that amount to the new president’s electoral majority — while 46%, which was John McCain’s electoral tally, would go to a plan that would halve the U.S. corporate tax rate and provide a capital-gains tax holiday for one year, after which the investment tax would drop to 10%.

It was Sen. McCain on Fox News a week ago Sunday who started the stimulus revolt when he said he couldn’t support the package and called for less spending along with a large corporate tax cut.

Over in the House, Republican leaders John Boehner and Eric Cantor have successfully launched an opposition drumbeat by attacking congressional Democrats rather than directly hitting President Obama.

Now all eyes will turn to Republican Senate leader Mitch McConnell to see if he can keep up this drumbeat.

Will common-sense Americans really support a massive overdose of government run amok? I seriously doubt it. This whole story has to be completely rethought.

God Bless,
The Truth Tracker
Jason R. Bootie

Top Ten Terror Threats

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Via(Homeland Security News)

CIA Director: Top Ten Terror Threats

homegrown_terrorism

Outgoing CIA Chief Michael Hayden lists Top Ten Terror Threats

1. Al Qaeda: “It is the organization that has the capacity to most threaten the physical safety of America and Americans. So it remains job No. 1. And we have talked about some successes and so on, but it is resilient, and therefore we have to continue to keep an eye on Al Qaeda,” he said.

2. Violence in Mexico: “Our good friend and neighbor Mexico had this horrible surge in violence that may cause — in fact has caused — us to talk with our Mexican friends, in more meaningful and deeper ways, to discover ways that we can cooperate against what we now view to be, and has always been, a common problem. …

“What you’ve got is President Calderon, very heroically, taking on drug cartels that I think everyone agrees threaten certainly the well-being of the Mexican people and the Mexican state, and taking them on in a very, very progressive way. Now, it is not quite the same thing as Colombia, where you had a politically motivated movement, the FARC, merging with narcotics organizations. Here it is largely in the business of crime but the effects could be just as dangerous, certainly to the well-being of the Mexican people.”

3. Iran’s nuclear program: “I included Iran, in terms of as they move forward in their own decision-making process, as they continue to churn out LEU, low enriched uranium, they do it at great cost, diplomatically and economically with regard to sanctions. They seem to be doing it with a purpose. As that quantity of that stockpile grows, you would think that at some point in that process, they are going to have to make a decision as to what it is they are going to do with it. So that is something we have to keep a close eye on as well.”

Read the rest of the Top 10 here:

God Bless,
The Truth Tracker
Jason R. Bootie

Obama Keeps Renditions!

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Via (Homeland Security News)

Obama Keeps Renditions As Counter-terrorism Tool

Under executive orders issued by Obama recently, the CIA still has authority to carry out what are known as renditions, secret abductions and transfers of prisoners to countries that cooperate with the United States.

Current and former U.S. intelligence officials said that the rendition program might be poised to play an expanded role going forward because it was the main remaining mechanism — aside from Predator missile strikes — for taking suspected terrorists off the street.

The rendition program became a source of embarrassment for the CIA, and a target of international scorn, as details emerged in recent years of botched captures, mistaken identities and allegations that prisoners were turned over to countries where they were tortured.

via Read Full Article

God Bless,
The Truth Tracker
Jason R. Booite

A Shot for Freedom In South Carolina!

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Via(The Lone Protester)

A Shot for Freedom in South Carolina

I received some news this past week that has put a smile on my face that will not go away. My lawyer, Rich Bolen of Lexington , SC ( shades of the first Lexington ) filed a lawsuit in the Fifth Judicial Circuit Court. This time around yours truly is not the defendant. The defendants are Larry McDaniel, the man that lied about hiring a company that employs illegal aliens. Police Officer Gregory James, the law enforcement official that took me to jail while ignoring all the crooks hard at work on the job site that I protested. The city of Columbia , South Carolina and Richland County are also defendants because of their willful acts in trying to shut me up.

These four defendants are facing a multitude of charges which include malicious prosecution for attempting to force me to plead guilty and when I refused improperly filed an additional charge against me. Abuse of process, false arrest and imprisonment, civil conspiracy, assault and battery and violation of my civil rights. Larry McDaniel and PO James, if found guilty face a fine of $2000 dollars and/or five years in prison. Richland County and Columbia conspired with these two individuals to violate my civil rights as guaranteed under the US Constitution and the South Carolina Constitution.

I have always been a big believer in karma. Whatever you do to people, be it good or bad, will come back on you some day. That’s why I will usually go out of my way to avoid getting into an argument with anyone. But every once in a while something happens that makes you put your foot down and say ‘to hell with this crap’, if these guys want to treat me like a common criminal for standing up for my constitutionally guaranteed rights, then they most definitely picked the wrong guy to try to push around.

That is what I was thinking a year and a half ago, while handcuffed in the back of a police cruiser, on my way to the Richland County Detention Center to spend a glorious night in jail. At that point I had completely given up on my politicians, my government and my law enforcement agencies. Why have faith in a system that will throw you in jail for speaking out against it? Why have faith in a government that has become corrupt? Why have faith in a police department where the chief is a personal friend of the man I was protesting? Why should I have faith in any department of the American government when they are more interested in feathering their own nests than they are in our Constitution and protecting the rights of American citizens.

Why have faith in an American criminal justice system where the prosecutor is more interested in forcing me to plead guilty than he is in finding out the truth? Why have faith in a criminal justice system where the prosecutor threatens me to plead guilty or the crook that I was protesting will level another charge of cursing against me? Why have faith in a corrupt system, where the prosecutor forgets to insure that there is an adequate supply of jurors in the pool? Why have faith in a system where I am forced to go to court six different times even though I am guaranteed a quick and speedy trial?

Why have faith in any of this? Simple, it is because all of my faith was in the American people and the United States Constitution. I did not and do not have faith in my courts, police or politicians because they are the ones that have sanctioned the wrongs that have been done to this country and the American people. The First Amendment guarantees my rights to free speech no matter that I spent a night in jail exercising it and it was a night well spent. My forefathers were prepared to sacrifice their lives and the least that I could do was spend a few uncomfortable hours in jail.

Well, my faith in America , its people, and Constitution did not let me down. I was found not guilty by a jury of my peers even though the prosecutor did everything possible to threaten me into pleading guilty. My faith always rested with the American people because I knew they would see through the lies. My faith rested with the US Constitution because I knew it spoke the truth unlike my prosecutor and the man I protested for admitting to me that he employed illegal aliens. And they came through for me.

On Feb. 21st, 2008, I was found not guilty of all charges leveled against me by people that have forgotten our Constitution and what it stands for. These people were so awed by their power and the money in their bank accounts that they figured a jury would convict someone, solely on the basis of their lies and threats. They figured wrong and now it is time for them to pay the piper.

God Bless,
The Truth Tracker
Jason R. Bootie