Thursday, July 28, 2011

Obama not Presidential; Republicans have won the argument; Sharia Law in UK zones; U.S. Guardsman gets life in prison; A wide national conspiracy unfolding; Buffet's plan on debt ceiling; Unintended backdoor way to convert to Roth IRA; Obama's plan; Pelosi on republican plans to destroy America; Arbitrary changes to Medicare by new gov't body; Obama assures banks there will be no default;

American Thinker opines on Obama: Make no mistake: that's what happened over the past weekend.  We have been through a mercilessly condensed version of a presidential campaign, lasting only hours, in which Barack Obama ran against his own image, demonstrated himself unworthy of office, and threw away any chance of victory in next year's contest. To start with, we have his failure to deal with the budget in due time, thus allowing the crisis to build up in the first place.  Then we have his walking out of the negotiations after he himself tried to pull a fast one (adding $500 billion -- that's a half-trillion, folks -- in taxes at the last minute).  The threats against grandma's checks.  His petulant and adolescent Friday press conference.  His prolonged weekend sulk, leaving the separate houses of Congress to work their way through the crisis with no input from the White House whatsoever.  His wordless rejection of a better deal than he had coming.  The attempt to crash the Asian markets by personal decree.  And finally the speech which was intended to rally the country behind his vision but wound up as a prolonged plea for Congress and the Tea Parties to stop picking on him.
How can this be described as anything else but a complete dereliction of his duty as chief executive of this country?  Put aside all else that has occurred over the past two years; last weekend we saw the utter disintegration of a president.  It cannot be overlooked, and it will not be forgotten.
But times have changed.  People have seen Barack Obama, have taken in his oddities, his narcissism, his ignorance, his lack of quality.  They are unwilling to cut him any more slack.  They know what a president looks like, good or bad, popular or not, and they no longer see a president in Barack Obama.  Is it possible to imagine Reagan, FDR, Truman, or either of the Bushes pulling the kind of tricks that Obama has in recent days?
The UK Telegraph opines: So what’s going on? Amid all the disputes about tactics and different plans and, inevitably, the politics of every move, Republican seem not to have noticed that they have won the big argument – and reduced President Barack Obama to using his bully pulpit for petulance and blatant electioneering. Even Nancy Pelosi is talking about an “era of austerity” 
UK Daily Mail writes: Islamic extremists have launched a poster campaign across the UK proclaiming areas where Sharia law enforcement zones have been set up.
Communities have been bombarded with the posters, which read: ‘You are entering a Sharia-controlled zone – Islamic rules enforced.’
The bright yellow messages daubed on bus stops and street lamps have already been seen across certain boroughs in London and order that in the ‘zone’ there should be ‘no gambling’, ‘no music or concerts’, ‘no porn or prostitution’, ‘no drugs or smoking’ and ‘no alcohol’.
Brietbart reports: FORT CAMPBELL, Ky. (AP) - A U.S. Army National Guardsman was sentenced Wednesday to life in prison with the chance of parole for the murder of an Afghan civilian.
------------------------------------------------------------------------------------------------------------- reports: It has become clear that an operation so vast that involves multiple agencies of the Obama Administration, including the Bureau of Alcohol, Tobacco, Fireams, and Explosives, the Department of Justice, the FBI, and others, would have had to secure the approval of individuals at the very highest layers of the federal government.
World Net Daily says that witnesses scheduled to testify at Issa's hearings this week will more than likely name names.
Vanderboegh said it looks like the government itself, from the highest level, was trying to undermine the Constitution.
"They're gradually building a case for a much wider, national conspiracy. By the end of this process, they'll be able to prove that orders came from the very top."
MSN Money reports: Warren Buffett, in a recent interview with CNBC, offers one of the best quotes I've heard in all this drama about the debt ceiling: "I could end the deficit in 5 minutes," he told CNBC. "You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."
CNN Money reports: Amid all the rancor in Washington over how to rein in the federal deficit, one thing seems inevitable: If you're a six-figure earner, your tax bill has nowhere to go but up. The good news? A quirk in the tax code gives you a new backdoor opportunity to build your savings and shelter more of your income from the threat of higher taxes.
Inexplicably, Congress left a major loophole in the new tax code. No matter what your income, you're eligible to open a traditional, nondeductible IRA, which you can then convert to a Roth now that the income limits on conversions have been lifted. And you can repeat the process each year as long as the loophole is in place. "It's almost certainly an unintended consequence of the new rules," says Ed Slott, a CPA and IRA specialist in Rockville Centre, N.Y. "But it's a perfectly legal maneuver and a great strategy for high-income investors."  Before making this move, however, you should consider converting any existing traditional IRAs you have to a Roth or move them into your 401(k) plan if allowed, says Loyd Stegent, a Houston-based CPA at Cornelius Stegent & Price. Otherwise the IRS may hit you with a tax bill on a portion of your backdoor Roth contribution. (Ask your financial planner or visit to determine how that applies to you.)
Glenn Beck reports: Fox News’s Ed Henry went after the White House and Jay Carney about their (lack of a) debt plan.
“What’s the point of giving a prime time address to the nation without an Obama plan and say neither of these other plans can work?” Henry asked, critiquing the President’s speech that offered no plan.
When Carney responded saying that Obama had laid out details during a speech at George Washington University, he added som insult, “The president stood before you. I can’t remember if you were here Friday night. Some of you weren’t because you cut out early. But a lot of you were. And he put forward in detail -” before being cut off by the press chatter.
Glenn Beck reports: In a recent speech, Nancy Pelosi accused the GOP of hating food safety, clean air, clear water, and education. She said they want to ‘destroy’ all of the above! She finally caught us! Glenn laid out his diabolical plan on radio this morning.
“They want to destroy. They want to destroy food safety, clean air, clean water, the Department of Education,” Pelosi said.
Patriot Update reports: Last weekend, Reps. Tim Bishop of New York and Eddie Bernice Johnson of Texas were the latest Democrats to join the increasing bipartisan effort that opposes IPAB as they signed on as co-sponsors of Rep. Phil Roe’s bill to repeal it. Quite simply, IPAB has so many opponents because it embodies centralized planning from Washington, D.C., and enables unelected bureaucrats to make decisions about people’s health care. The contrast couldn’t be more clear: a new government body (IPAB) charged with taking resources away from the beloved Medicare program.
Major changes in the Medicare program should be decided by elected officials who will be held accountable for their decisions. Such an arbitrary system lacks transparency and oversight, and according to the Congressional Budget Office, IPAB will save no money over the next decade because Medicare spending won’t hit the threshold level to activate its powers.

Patriot Update writes: While officials from the Obama Administration raised their rhetoric over the weekend about the possibility of a debt default if the debt ceiling isn’t raised, they privately have been telling top executives at major U.S. banks that such an event won’t happen, FOX Business has learned.
In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn’t raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond holders. Geithner made the rounds on the Sunday talk shows saying a default is imminent if the debt ceiling isn’t raised, and President Obama issued a similar warning during a Friday press conference after budget negotiations with House Republicans broke down.

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