The New Ledger

I Realize That People May Be Tired Of Me Pointing This Out . . .

Pejman Yousefzadeh — Fri, 20 Nov 2009 19:37:42 +0000

But it probably is worth emphasizing anew that Barack Obama is not a popular President:

President Obama’s job approval numbers will dip below 50% for the first time today in Gallup’s daily tracking poll, according to a Gallup official.

“Gallup Daily tracking results just in. Obama will be below 50% for the first time when we update our numbers at 1:00 p.m.,” wrote Gallup.com managing news editor Lymari Morales on Twitter.

His approval numbers have bounced down to the 50% mark several times, driven by weaker support from independents and Republicans, but hadn’t crossed it.

The man in the White House is no longer a political dynamo. Maybe he will become one again, but for now, he’s just an ordinary politician, fighting to make sure that people like him.

Just like all other politicians, as a matter of fact.

Negative Interest Rates, Fed Audits, and Geithner in the Dock

Francis Cianfrocca — Fri, 20 Nov 2009 14:43:10 +0000

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Negative interest rates finally materialize, Tim Geithner falls on his face at Congress, and the House moves forward with their policy of gutting the Federal Reserve. That’s three big stories to talk about on today’s Coffee and Markets, a daily podcast from The New Ledger on politics, policy and the marketplace with Francis Cianfrocca, brought to you by BigGovernment.com.

You can subscribe to the podcast by following the links above, and if you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.

Bribery

Pejman Yousefzadeh — Thu, 19 Nov 2009 23:52:58 +0000

Mary Landrieu is getting $100 million to support health care reform. If this is what it takes to sell such a dubious legislative package, then it is as good a signal as any that Senators ought to vote “no” on the Reid health care reform bill.

Surprise! (Trade Policy Edition)

Pejman Yousefzadeh — Thu, 19 Nov 2009 23:29:22 +0000

Asian leaders prefer Bush trade policies to Obama trade policies. Of course, that is not hard to do, when there are few specifics to the Obama Administration’s approach to trade, when to the extent that we have been afforded specifics, they have served to make the Obama Administration appear to be tremendously protectionist, and when the President has not even asked Congress to revive new trade negotiating authority for him.

The Obama Administration’s approach to trade policy has been nothing short of depressing. It will leave the United States with a much smaller economic presence in Asia–as Phil Levy references, it is the Obama Administration, not the Bush Administration, that has ditched Asia–and it will cost the United States in terms of economic growth. For an Administration that has pledged itself to reviving the American economy, Team Obama is overlooking and ignoring a surefire way to do so by allowing a once-robust American trade policy to wither on the vine.

Health Care “Reform” Will Cost Us

Pejman Yousefzadeh — Thu, 19 Nov 2009 19:21:13 +0000

As pointed out by Jeffrey Anderson:

Senate Majority Leader Harry Reid is touting the Senate’s newest health-care bill as costing $849 billion over 10 years. But this uses the same accounting trick as past versions: 99 percent of the costs don’t kick in until the fifth year of that “10 year” period. And the true 10-year costs are well over twice what Reid’s advertising: $1.8 billion.

The Democrats cite the bills’ projected costs from 2010-19. Yet, as the Congressional Budget Office reports, the bill would cost just $9 billion total from 2010 through 2013 — versus $147 billion in 2016 alone. In the first 40 percent of what the Democrats are calling the bill’s “first 10 years,” only 1 percent of its costs would yet have hit.

Senate Majority Leader Harry Reid is touting the Senate’s newest health-care bill as costing $849 billion over 10 years. But this uses the same accounting trick as past versions: 99 percent of the costs don’t kick in until the fifth year of that “10 year” period. And the true 10-year costs are well over twice what Reid’s advertising: $1.8 billion.

The Democrats cite the bills’ projected costs from 2010-19. Yet, as the Congressional Budget Office reports, the bill would cost just $9 billion total from 2010 through 2013 — versus $147 billion in 2016 alone. In the first 40 percent of what the Democrats are calling the bill’s “first 10 years,” only 1 percent of its costs would yet have hit.

One of the supposed advantages of health care reform was that it was supposed to cut costs. That clearly is not happening under the Reid bill. Without the promised cost controls, what is the point of voting for the bill?

UPDATE: Michael Cannon’s commentary doesn’t give fiscal hawks any more reason for good news.

Lindsey Graham Devastates Eric Holder

Pejman Yousefzadeh — Thu, 19 Nov 2009 18:57:36 +0000

Watch:

The covering for Holder has already begun. Patrick Leahy is now busy telling people that there is no need whatsoever to interrogate Osama bin Laden if we capture him; as if American intelligence agents would not have an interest in seeing whether bin Laden spills the beans on any other operations that al Qaeda may be undertaking against the United States. I recognize that Leahy has to spin on behalf of the Attorney-General, but he doesn’t have to insult the intelligence of the public in the process, does he?

Reid’s Massive Health Care Mess

Francis Cianfrocca — Thu, 19 Nov 2009 13:56:24 +0000

Download Podcast | iTunes | Podcast Feed

Senate Majority Leader Harry Reid has finally brought out the health care bill he’s fashioned behind closed doors over the past several weeks, and it ain’t pretty. The Budget Committee fully implemented 10 year score of the bill is $2.5 trillion. The CBO score, which is really just a six year measure, says taxes will go up $493.6 billion, while Medicare will be cut $464.6 billion. It’s a massive piece of legislation, but will it actually solve any of America’s health care problems? We’ll discuss the bill on today’s Coffee and Markets, a daily podcast from The New Ledger on politics, policy and the marketplace with Francis Cianfrocca, brought to you by BigGovernment.com.

You can subscribe to the podcast by following the links above, and if you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.

Sino-American Communiqué Failures

Pejman Yousefzadeh — Thu, 19 Nov 2009 01:45:39 +0000

As pointed out by Daniel Blumenthal, Team Obama blundered quite impressively in the crafting of a communiqué with China. I would say something at this point about how it is important for a President and his foreign policy team to possess the experience necessary to sniff out verbal traps in communiqués, and to avoid those verbal traps, but I am sure that such commentary is not Hopey and Changeish enough.

2012’s Republican Dark Horses

Pejman Yousefzadeh — Wed, 18 Nov 2009 22:01:02 +0000

As compiled by Real Clear Politics. I could easily see myself supporting Mitch Daniels, who has tremendous experience as a political aide, a successful pharmaceutical executive, a Director of the Office of Management and Budget, and as Governor of Indiana. He has done a great job in helping Indiana weather the economic crisis, and he backs up his small-government talk with small-government action–to excellent effect for the state he serves. If he becomes President, he can use his experience as OMB Director to help reduce the size of government in Washington, and to cut out waste, fraud, and abuse; the man knows where the bodies are buried, after all, and he has demonstrated himself to be an excellent fiscal steward and guardian against big government while serving in Indiana.

“It Was Hard Not To Feel A Bit Nostalgic For The Days When Grown-Ups Were In Charge”

Pejman Yousefzadeh — Wed, 18 Nov 2009 21:20:23 +0000

The Economist on the Reagan legacy in fighting the Cold War. Well put.