The AFL-CIO is one of the single largest contributors to President Obama and the Democratic Party
They reap enormous, direct benefits from the ever-expanding size of the federal government
The AFL-CIO ran itself insolvent in the 2008 presidential election–spending millions more than the union had taken in from dues, and later engaged in “creative accounting” to conceal their financial hardships
The AFL-CIO has pledged to spend upwards of $53 million in the waning days of the midterm election
Mr. Trumka has also said that he “watched (tea party protesters) spit at people, I watched them call John Lewis the n-word,” even though he is nowhere to be found on any of the videos of the alleged incident
Mr. Trumka has also said, in reference to the Tea Party Movement: “There are forces in our country that are working hard to convert justifiable anger about an economy that only seems to work for a few of us into racist and homophobic hate and violence directed at our President…”
Hyscience wrote a good response to this “viral temper tantrum” that has Democrats apparently proud… even though Weiner is upset about hiding legislation. One must keep in mind that it was the Democrats who chose to require a two-thirds majority. They could have passed it with a simple majority if they so chose. They wanted a bunch of other bills passed with it, so they chose to go the two-thirds majority route and didn’t have all the Democrats on-board. That’s number one. Number two is that the The GOP only wants to make sure the bill is paid for before it passed. This, apparently, is not important to the Democratic party. I have a checking account, does that mean just because I have no money in it but still have blank checks I can write as many as I like? Well?
According to the NY Post, King, a key backer of the bill, had moments earlier accused Democrats of staging a “charade” (emphasis added):
The rift developed over how the bill was put before the chamber.Democratic leaders opted to consider it under a procedure that requires a two-thirds vote for approval rather than a simple majority. The move blocked potential GOP amendments to the measure.
King said Democrats were “petrified” about casting votes on amendments, possibly including one that would ban aid from going to illegal immigrants sickened by trade center dust. King said the bill was more important than “a campaign talking point.”
Also via Eye Blast, Weiner’s attack wasn’t limited to just the house floor because he was also freaking out of Fox News this morning. This debate, or shouting match, between him and Peter King (R-NY) actually better explains exactly why Weiner was all worked up and exactly who he was screaming at the whole time.
….As pointed out over at The Hill, King defended his objection by saying:
“Anthony can rant and rave all he wants on the House floor, he did not answer one point that I made last night,” he said. “I’ve done everything I possibly can. The fact is this should not be a partisan issue, I have been very, very critical of the Republican Party.
“The bottom line is the Democrats control the House and they pulled a procedural gimmick starting ten days ago, and they lost the nerve to bring it to the floor on a real vote,” …
Here’s a take home message for Mr. Weiner. Follow House procedures and stop trying to finagle funding for illegal aliens – then you won’t have to throw embarrassing temper tantrums on the House floor. And, by the way, the American people deserve to know if the bill requires American taxpayer dollars to be paid to illegal aliens – and we deserve to know in “advance” of its passage.
…Hyperinflations are caused by extremely rapid growth in the supply of “paper” money. They occur when the monetary and fiscal authorities of a nation regularly issue large quantities of money to pay for a large stream of government expenditures. In effect, inflation is a form of taxation in which the government gains at the expense of those who hold money while its value is declining. Hyperinflations are very large taxation schemes….
One of the stories that she would tell took place after the First World War. Germany lost and, in so doing, agreed to the Treaty of Versailles. In addition to the loss of geographical territory, the German Weimar Republic was forced to pay enormous sums in reparations. In essence, the Germans had to pay for all of the damage done in the war. Germany did not have the financial means to pay these damages and their solution was to just print money.
Catastrophic Consequences
As this new money moved into circulation the impact was devastating to the German economy. The inflation rate was absolutely staggering. A few years after the end of the war the German economy had an inflation rate in excess of 300% per month! The economy had essentially collapsed and the country was experiencing a depression of enormous proportions. This set the stage for the rise of the Nazi party several years later.
Which brings us back to my grandmother’s story. She would tell me how her father and brothers, all coal miners, would get paid twice a day. The currency was devaluing so fast that it needed to be spent as fast as it was earned. My grandmother told of collecting the money and going shopping for food. The grocers didn’t even bother counting it, they just estimated the amount by how large the stack was. A loaf of bread could be purchased for two bags of money in the morning, by the afternoon the price might be three bags. The currency had so little value that people would burn it in their stoves for heat because wood had more value than the money.
We Are Getting $700 Billion From Where?
The US dollar is a fiat currency. That means that it is not backed by gold or any other asset but instead is backed by “the full faith and credit” of the United States Government. As we increase the national debt we are destroying faith that the rest of the world has in our economy. As that faith erodes the dollar will fall further, and imported goods (read oil) will cost more and more. The inflation that we are already experiencing can quickly turn to hyper-inflation if we keep spending money that we don’t have.
Hyper-inflation is an end-stage terminal cancer to any fiat currency. However that inflation does not immediately follow the event that caused it. In Germany the Weimar republic began printing excess money in 1919, but the hyper-inflation didn’t take hold until a few years later. It may be several years before we see the real effects of the proposed bailout that we have before us.
All three network news shows on Tuesday skipped a report that eight of 15 experts consulted by the Obama administration opposed the government’s plan to halt deepwater oil drilling for six months. Only Special Report With Bret Baier covered the story….
The Center for Freedom and Prosperity offers another entry in its Econ 101 series, this time about the minimum wage and the destructive consequences of government intervention in the job market. When Democrats insisted on passing the latest series of minimum-wage increases from $5.15 to $7.25, they claimed to have the interests of the poor and young in mind. However, the action destroyed those jobs normally accessible to those populations, even before the current recession began eliminating them. When the minimum wage remained below the floor of the market for entry-level positions, it did no direct harm, but the intervention by Congress in 2005 wound up hurting the low-skilled workers they claimed to champion:
