Browsing All Posts published on »May, 2009«

Obama: “We’re out of money now”

May 23, 2009

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In a surprising interview with C-SPAN’s Steve Scully, Drudge is reporting that President Obama, when probed about the staggering deficits and when we might run out of money in the future, replied, “We are out of money now.” He then makes the argument that the failures of Medicare and Medicaid are in a large part […]

Obama and Cheney give dueling speeches on terror policy

May 21, 2009

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One day after the Senate overwhelmingly voted against providing funds to close down Guantanamo Bay, President Obama gave an address reaffirming his intention to bring some Gitmo detainees to the US. Nearly simultaneously, the increasingly vocal former Veep Dick Cheney spoke at the American Enterprise Institute and blasted the phony moralizing and feigned outrageof partisan […]

Feds to get majority stake in GMAC and take on more debt

May 20, 2009

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More worrisome news from the sector of government economic control. The Treasury Department is expected to announce it will be pumping an additional $7.5 billion into car loan company GMAC, and as a result the federal government will assume a majority stake in the private auto finance company. Not only does it throw more taxpayer […]

Senate votes to keep Gitmo open, 90-6

May 20, 2009

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In a stinging rebuke of President Obama’s intentions on Guantanamo Bay, the Senate voted 90-6 to deny funding to close down the detention facility there. This comes on the heels of a federal judge ruling that indefinite detention can continue. Even more damaging is the revelation from the New York Times that the Defense Department […]

California rejects tax and budget measures by wide margin

May 20, 2009

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In a blowout electoral defeat, the California ballot measures heavily promoted by Gov. Arnold Schwarzenegger went down in flames yesterday by a nearly 2 to 1 margin. The only ballot initiative to pass was one which prohibited government officials from receiving a pay raise under a budget deficit, and the defeated measures dealt with shuffling […]

Obama administration to “briefly” own GM and impose tough fuel standards

May 19, 2009

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In a move that should concern anyone with a passing interest in the free market, Reuters is reporting that as part of a planned bankruptcy deal, GM plans to sell healthy assets to a new corporation initially owned by the government. A credit line would be extended to the new company, and the bulk of […]

Obama at Notre Dame and the abortion debate

May 18, 2009

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On Sunday, President Barack Obama gave a much-anticipated commencement speech at Notre Dame. The appearance was controversial owing to Notre Dame, a Catholic university, taking the occasion to bestow an honorary degree upon the strongly pro-choice politician. Leaving aside the Notre Dame President calling peaceful protesters “religious vigilantes”, the event was somewhat anti-climactic, with Obama […]