Do You Live In A Death Spiral State
” Don’t buy a house in a state where private sector workers are outnumbered by folks dependent on government.
Thinking about buying a house? Or a municipal bond? Be careful where you put your capital. Don’t put it in a state at high risk of a fiscal tailspin.
Eleven states make our list of danger spots for investors. They can look forward to a rising tax burden, deteriorating state finances and an exodus of employers. The list includes California, New York, Illinois and Ohio, along with some smaller states like New Mexico and Hawaii.”
If your career takes you to Los Angeles or Chicago, don’t buy a house. Rent.
” Young people overwhelmingly supported President Obama in both his elections in the hope that he might make their lives better.
But over at BuzzFeed, Ben Smith has written an insightful piece, “Obama prepares to screw his base,” explaining how young people will bear a disproportionate share of the costs of ObamaCare.
My major quibble with Smith’s piece? Obama isn’t preparing to screw young people. He and other politicians have been doing it for years.
Obamacare is an obvious example. A central tenet of the plan and the purpose of the individual mandate is to shift costs from older, sicker people to younger, healthier people. Unsurprisingly, Health Care costs are projected to nearly triple under Obamacare for Americans under the age of 27.
It’s also no surprise that AARP, which Smith called the “implacable lobby for retired people,” has been “energetically making the case that young people should pay up.” “
Illustration By David Horsey
The aircraft carriers
USS Dwight D. Eisenhower (CVN-69)
USS George H.W. Bush (CVN-77),
USS Enterprise (CVN-65),
USS Harry S. Truman (CVN-75),
and USS Abraham Lincoln (CVN-72)
are in port at Naval Station Norfolk, Va. US Navy Photo
” The U.S. Navy will delay the refueling of the aircraft carrier USS Abraham Lincoln (CVN-72) for an unknown period because of the uncertain fiscal environment due to the ongoing legislative struggle, the service told Congress in a Friday message obtained by USNI News.
Lincoln was scheduled to be moved to Huntington Ingalls Industries’ (HII) Newport News Shipyard later this month to begin the 4-year refueling and complex overhaul (RCOH) of the ship.
“This delay is due to uncertainty in the Fiscal Year 2013 appropriations bill, both in the timing and funding level available for the first full year of the contract,” the message said.
“CVN-72 will remain at Norfolk Naval Base where the ships force personnel will continue to conduct routine maintenance until sufficient funding is received for the initial execution of the RCOH.” “
So the Obama administration shirks the one true responsibility of the Federal government , ” to provide for the common defense” in order to continue the advancement of the entitlement state … got to have those Obamaphones and free wireless for the “oppressed” but fuel for the Navy … not so much .
” Senate Majority Leader Harry Reid (D-Nev.) won’t allow a vote on the president’s proposal to resolve the “fiscal cliff.” Senate Democrats are mortified that someone might ask their opinion, even ask them to cast a vote (mercy me!), on the biggest domestic issue we face.
If you are getting the sense there is no one with sense inside the Beltway, you’re getting warm. The reason everyone is spinning and spinning out of control is that the country can’t be governed without an executive who is both adept at and motivated to lead. No matter how responsible or irresponsible the Congress is, in a complex set of negotiations with almost infinite permutations of a deal, competing interests and inflamed partisans, there is only one person with the stature to force both sides to a deal. But this president seems unwilling to ask anything of his side and determined to set up a series of no-win situations for his opponents, whom he treats not as political rivals to be bargained with but enemies to be vanquished.
Chance of going over the fiscal cliff? On a scale of zero to 10, 10 being certainty that we are all going to take the plunge, I think we’re at 9. And maybe this is for the best.”
Illustration By John Darkow
“Famed Washington Post journalist and political pundit Charles Krauthammer was a guest on Fox News’ Special Report on Thursday and he offered some pretty bold, but sage advice regarding the fiscal cliff.
“It’s not just a bad deal, this is really an insulting deal. What Geithner offered, what you showed on the screen, Robert E. Lee was offered easier terms at Appomattox, and he lost the Civil War. The Democrats won by three percent of the vote, and they did not hold the House. Republicans won the House. So this is not exactly unconditional surrender, but that is what the administration is asking of the Republicans.
This idea – there are not only no cuts in this, there’s an increase in spending with a new stimulus. I mean, this is almost unheard of. I mean, what do they expect? They obviously expect the Republicans will cave on everything. I think the Republicans ought to simply walk away. The president is the president. He’s the leader. They are demanding that the Republicans explain all the cuts that they want to make.” “
Illustration By Glenn Foden