11 stunning revelations from Larry Summers’s secret economics memo to Barack Obama
Pethokoukis: Secret 2008 Memo to Barack Obama reveals White House knew Stimulus was a partisan scam…
Jim Pethokoukis alerts us to the stunning release of a confidential memo sent to Barack Obama by senior economic adviser Larry Summers on December 15, 2008.
In short, Obama and Summers both knew the Stimulus was a scam.
1. The Stimulus Had Nothing to Do With Reviving the Economy, It Was Designed To Reward Allies and Implement Left-Wing Policies – “The short-run economic imperative was to identify as many campaign promises or high priority items that would spend out quickly and be inherently temporary. … The stimulus package is a key tool for advancing clean energy goals and fulfilling a number of campaign commitments.”
2. Obama knew that the deficits he was about to run were dangerous — and didn’t care – “[The spending] would leave an average deficit over the next decade that would be worse than any post-World War II decade. This would be entirely unsustainable and could cause serious economic problems in the both the short run and the long run.”
Read everything HERE.
(in hindsight, the stimulus, the money given to banks, etc….just a big waste of money)
With New Law, Profits Take a Back Seat
A brownie supplier to Ben & Jerry’s ice cream, a skateboard maker and a payday lender are among the hundreds of existing businesses that plan to incorporate as “benefit corporations” in coming months.
They will be taking advantage of a new and untested corporate charter, available in only a half dozen states, allowing a company’s governing board to consider social or environment objectives ahead of profits. The legal structure is intended to shield the board from investor lawsuits.
That anything other than maximizing shareholder value should be considered in a company’s decision-making normally can open the door to investor suits.
But in the past two years, lawmakers in seven states, including Maryland, Virginia and New Jersey, passed legislation to create benefit corporations as an alternative business model.
California opened up the option Jan 1. New York will do so as of Feb. 10. Outdoor-apparel company Patagonia Inc., which places high priority on sustainable and renewable production methods, incorporated under the new structure in California this month.
Ben & Jerry’s now plans to incorporate as a benefit corporation in Vermont within the next few months, he adds, through pressure from its current board. Unilever declined to comment.
By law, a benefit corporation’s social and environmental goals must be laid out in the bylaws and the company must publish an annual “benefit report” to measure itself against those goals.
The idea has its share of critics. “For an investor, this is a terrible idea,” says Charles Elson, who teaches corporate governance at the University of Delaware. “The structure creates a lack of accountability,” he adds, so if the management of a benefit corporation makes a bad decision, “there’s very little you can do about it as a shareholder.”
(hhmmmmmm…..now I like this idea and would love to see how these companies fare in the next 5 years or so. face it, business today is not about helping people but about making profits NOW at all costs)
The Obama re-election campaign has produced another ad touting the president’s “successful” economic record of accomplishment. Critics will likely argue, however, that like his last campaign ad, this new one might get “three Pinocchio’s” from the Washington Post as well.
The new ad boasts of the upward trend on private sector job growth over the past 22 months, and “squarely places blame for the millions lost before Obama took office on former President George W. Bush,” writes Devin Dwyer of ABC News.
Read the article here.
JUSTICE DEPT: STATES HAVE INTERNET CASINO RIGHTS! ABORTION AND ILLEGAL IMMIGRATION? NOT SO MUCH!
Geesh, saying states have this right? Good way to really bankrupt more and more people. Guess state lotteries were not sucking in enough money?
Bottom line? If it benefits the democrat party, states have “rights.” If it doesn’t, screw the states!
Oh, Iowa is seriously thinking of getting into this! Idiots…
American Troops Military Careers Being Ruined By Absurd Rules of Engagement One day, our soldiers will have to give the enemy 24 hour notice before they can shoot?
The Right Scoop Always worth reading every day.
(The Hill) — The Congressional Black Caucus on Monday night took to the House floor to charge that voter ID laws popping up around the country are aimed at dissuading minority voters from voting, and making it harder for President Obama to win re-election.
“It is clear to me that whether racially based or not, this is a direct attempt, not only to undermine the election process, but a specific attempt to derail what surely would be and ought to be the re-election of Barack Obama,” Rep. Donna Christensen (D-VI) said on the floor.
She was preceded by other CBC members who postulated that voter ID laws are not meant to ensure votes are cast by legal U.S. residents, as supporters of these laws contend, but as a way to thwart minorities.
(unintentionally admitting that voter fraud comes from the left, democrats)
(hmmm….al ‘fatman’ gore must be pissed his only cause is dead last! hahahahhahaha)
And lastly. The Obama regime and all the freaking liberals he brought in do not believe in our laws, but will make their own or circumvent if they have to. Like this:
There are other ways to bring healthy people into the healthcare system if the Supreme Court strikes down the individual mandate in President Obama’s healthcare law, Health and Human Services Secretary Kathleen Sebelius said in an interview Monday.
Part of Sebelius’s appearance on “The Daily Show” did not make the televised broadcast and was posted online Tuesday morning.
Sebelius said she’s confident the Supreme Court will uphold the mandate, but that there are alternatives if it doesn’t.
“I think we keep going,” she said. “We find ways to encourage people to become enrolled and become insured. And the mandate’s the fastest way to do it, and it just says, basically, everybody’s got some responsibility. But there are other ways to encourage people to come in.”