by Bill O'Connell on August 1, 2011
Photo by Studio08Denver
Amendment XIV, Section 4: The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.
Section 5. The Congress shall have the power to enforce, by appropriate legislation, the provisions of this article.
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by Bill O'Connell on July 18, 2011
For all the grandiose talk of cutting $4 trillion which will remain undefined, or $2 trillion which is not bold enough, President Obama proves once again when faced with a real solution, he will do anything to kill it.
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by Bill O'Connell on May 12, 2011
When did the distortions start? Was it with Officer Crowley and the Cambridge Police Deparment “acting stupidly”? Was it with the distortions over ObamaCare? How about dressing down the Supreme Court while the camera catches Samuel Alito saying “not true”. His assault on Paul Ryan’s budget blueprint after inviting Congressman Ryan to come hear his speech, brings to mind Joe Wilson’s outburst, “You Lie!” during another Obama address in Congress. It is becoming all to common to hear the lies and distortions from this president, but they keep coming. The good news is that Congressman Ryan is not afraid to counterpunch.
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by Bill O'Connell on July 25, 2010
The Democrats like to point to the Clinton presidency as proof of their fiscal responsibility. It was a period of strong growth, balanced budgets, and prosperity. They then point to the Bush presidency, all eight years of it, and deride it for deficits, and ultimately a very severe financial crisis. But it is worth taking a moment to recall that the federal government is made up of three co-equal branches of government with built in checks and balances. The Congress is not subordinate to the president and it does not work for him. It is an equal branch of government that checks and balances the power of the presidency. For the purpose of this discussion, I will leave out the third branch, the judiciary.
Despite the famous 1992 Clinton campaign slogan, “It’s the economy, stupid,” the recession had already ended in March 1991. When Clinton took office he had a Democratic Congress and he pushed through a massive tax increase in 1993 without a single Republican vote. We know what happened to Congress in 1994, the Republicans took over for the first time in 40 years. Speaker of the House Newt Gingrich tried to pass a Balanced Budget Amendment to the Constitution, which was included in the Republicans’ Contract with America. It passed in the House but failed by one vote in the Senate. After losing this round, Gingrich met with the Republican leadership and put forth the idea of acting as if the amendment had passed and just start submitting balanced budgets. They succeeded in the last three years of the Clinton presidency to produce budget surpluses and decrease the national debt. This included a tax cut by the Republican Congress in 1997, and the economy grew much stronger after the Republican takeover of Congress than under an all Democratic government.
In the 1996 election, the Democrats regained control of the Congress under Nancy Pelosi and Harry Reid. Up until that point the economy had grown steadily under President Bush despite two wars. With Bush in the White House and the Republicans in control of Congress we had tax cuts and seven years of economic growth. In December of 2007 the economy went into recession, almost one year after the Democrats regained control. Now with a Democrat in the White House, and the Democrats in control of Congress we are looking at massive growth in government, a whopping tax increase bearing down on us that will hit on January 1, 2011, and a growing debt that may eventually bankrupt us.
So what is all this talk about eight years of failed Republican policy? Under Clinton and a Democrat Congress it was two years of a tax increase and modest growth. Under Clinton and a Republican Congress it was six years of tax cuts, budget surpluses and strong economic growth. Hmmm….same president, different parties controlling Congress. Under Bush we had seven years of growth and tax cuts with a Republican Congress. Under Bush and a Democratic Congress, recession, fiscal crisis. Hmmm…same president, different parties controlling Congress.
But don’t expect honesty on the campaign trail from the Democrats. It’s just not the Chicago way.
