Sunday, May 22, 2016

May, 2016, Bonus Post, Political Class Insanity: Obama The War President, Apple Invests in China, and More

It is the beginning of another month which means it is time again to review the latest political class insanity from the American political class. Each month it takes us multiple posts to cover the wasteful spending, incompetent government organizations and employees, government programs that usually make a problem worse than resolving it, inane and idiotic politician comments, etc. In fact, last month we set a record, needing ten full posts to cover it all.

To review past posts on this insanity and idiocy, just click on the first few posts in each month listed to the right of this page. After reviewing just a handful of these insanity posts we think you will agree that we are currently being served by the worst set of American politicians ever to hold office in our entire history.

This is our 12th post this month on America’s political class insanity. It sets a record for this blog on covering such disgusting behavior from our nation’s politicians. It is a sad commentary on the state of the country and those that are supposed to be leaders. 

I thought we were done with this month's insanity yesterday but as quickly as we review and discuss their insanity and idiocy, more insanity comes raining down on us. Thus, today's insnaity bonus post which is definitely our final look at this month’s insanity:

1) We have often reported on how poorly the Obama Presidency has handled economic strategy and the dismal results it has produced. Tens of millions of Americans needing Federal food assistance every month, millions of people who cannot find a full time job, settling for no job or only a part time job, the labor participation rate at 45 year old lows, etc. And as bad as the total, national results are, segments of the population are seeing far worse results, Minority unemployment and youth unemployment are much higher than the dismal national results we just reviewed.

Thus, one would think and hope that if the Federal government had some job creation money set aside they would use it for these sub-segments of the population, especially kids, to try and help them get at least summer jobs. Well, the good news is that the Feds do have a pot of money for such an effort. The bad news, is the Obama administration has set aside $2 million of it to help refugee kids, 400 hundred of them, get a summer job in Utica, New York under the so-called Summer Opportunity Project. Not American citizens' kids getting job help, not American kids stuck in American ghettos in cities like Chicago and Detroit getting job help. No, refugee kids in a single upstate New York city. 

In addition to getting summer jobs, these refugee kids will also get tutoring in math and English while, again, disadvantaged American citizens' kids will get nothing. Am I the only one who sees the insanity of using taxpayer dollars for programs like this, while ignoring our own kids, or am I a racist?

2) Apple recently announced that it was investing $1 billion in a Chinese car service that will compete directly with Uber in China. I have no problem with this, it is Apple's money, they are certainly free to invest it anywhere where it will maximize shareholder and company value the most. I do lament the fact that they found a better opportunity to invest $1 billion in China vs. the United States though, all because of the very, very high tax rates that the Federal government has in place for businesses.

Wouldn't it have been so much better for Americans if Apple found it easier and cheaper to invest $1 billion in America rather than China? How many jobs could a $1 billion investment create in this country? How much more in tax revenue would the Federal government have received if those jobs, that would be created by the $1 billion invested here, tax revenue that would recur year after year? Instead, Washington continues to not address a broken tax system and insanely high set of tax rates that forces companies to invest billions and billions of dollars in other countries. 

As a result, the Federal government gets no revenue from billions and billions of dollars kept and stranded overseas, American workers lose out on job opportunities that those stranded dollars could afford them, and the Federal government never sees the recurring revenue from jobs created domestically if those stranded dollars were spent here rather than in places like China.

But this $1 billion China investment is really small fish relative to the bigger picture. According to a recent article on the Personal Liberty website, if Apple brought back all of the money it has stranded over sees, it would pay a whopping $50 billion in taxes on it. Instead of cutting Apple a break and getting a smaller piece of this stranded money, but billions and billions of dollars invested in our economy, the political class refuses to reform our tax code and ends up getting $0 from that $50 billion. Imagine the economic boost our economy would get if Apple was allowed to bring tens of billions of dollars back home and invest it here and not get whacked with a $50 billion tax bill?

And Apple is just one of many large companies that could bring back tens or hundreds of billions of dollars back into this country for investment if we had a tax code that incentivized investment and economic growth rather than taxation. Tax code insanity, economic idiocy.

3) Remember how earlier in this month's political class insanity we pointed out that the Washington political class, Congress and Obama were working on legislation that would make the American bison the country's official mammal? At that time we pointed out how petty and stupid their priorities were, worrying about what should be the country's official mammal when tens of millions of Americans were either hungry, homeless, unemployed, under employed, dying from drug addiction or having their kids get under educated from failing schools. 

According to a recent Associated Press report, their priorities are still petty and stupid. The House of Representatives recently spent legislative time to ban the display of Confederate flags on flagpoles at Veterans Administration cemeteries. The legislation would ban descendants, family members, and others seeking to commemorate veterans of the Confederate States of America from flying the Confederate Battle Flag over mass graves, even on days that flag displays are permitted. 

Not surprising, a Congressman from the land of fruits and nuts, California, sponsored the legislation. I am assuming that there are no hungry, homeless, unemployed or drug addicts in his state, otherwise her would not have proposed such useless legislation that will impact virtually no one in the whole country. Insanely bad priorities.

4) Remember back or a year or so ago on how everyone was worried that the so-called PIGS of Europe, Portugal, Italy, Greece, and Spain, were going to go bankrupt because their central government debt burden had gotten so out of control? European politicians were falling all over themselves to try and come up with debt relief and debt solutions before the debt crushed their economies and their nations. 

According to CNBC, Spain has not improved their debt solution much since, as of a week or so ago, the central government of Spain had a national debt burden of $1.23 TRILLION at the end of the first quarter. This enormous debt burden represents 101% of the country's GDP in 2015. In other words, the debt burden is so high that it represents over 100% of all the goods and services produced by every Spanish citizen last year. 

Oh, by the way, the U.S. national debt level is higher than Spain's 101%, putting the U.S. Federal government financials on a par, or worse, than the PIGS of Europe. All thanks to an Obama administration that doubled the debt load in eight short years, incurring more debt than EVERY Presidential administration before him.

5) Although Obama won the 2009 Nobel Peace Prize, the New York Times recently ran an article proving Obama will go down in history as the only two term President that was actively involved in war and military activities the ENTIRE length of his Presidency. From prematurely withdrawing U.S. troops in Iraq in order to win a second term only to reinsert troops later to a failed military effort in Afghanistan over the past eight years to drone attacks that have killed hundreds of innocent civilians in Pakistan and Afghanistan, to an illegal and un-Constitutional entry into the Libyan civil war to the illegal meddling in Syria which led to the the deaths, wounding, and homelessness of millions of Syrians, to putting "boots on the ground" in Syria after saying numerous times he would never to such a thing to bombings in Yemen, he will go down in history as the longest war President ever.

And to this infamous record, we add the latest bit of military forays from a CNN report. CNN reported that Obama has, probably illegally, inserted U.S. Special Forces troops into the country of Libya in an effort to contain the influence of ISIS, the worst terrorist group to ever exist that arose out of the Obama administration's meddling in Syria. The Special Forces are operating out of a base in Misrata, Libya. The Pentagon has acknowledged the new presence of our military presence in that country.

As usual with most of Obama's unilateral actions, Congress and the American people have had no input to his wild and often reckless military misadventures and the strategy behind them. And that assumes there is a military and political strategy to Obama using military forces and might in at least six countries. Our military actions have killed and wounded thousands of civilians, hundreds of our own troops, cost hundreds of billions of dollars, with no measurable or apparent return benefit. That is certainly insanity of the nth degree.

That will do it for this month's record breaking review of political class insanity. Unfortunately, this might be a short term record, given the accelerating rate of political class insanity.

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