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As the President prepares to push his massive energy tax on the American people in the form of “Cap & Trade”, several Republican lawmakers are sponsoring bills that regulate livestock flatulence as well. Although it seems silly, it highlights to us the problems with “Cap & Trade” and how out of touch the environmental movement has become.
“If they do regulate greenhouse gases under the Clean Air Act, then they will have to do all sources, all emitters,” Sen. John Thune, a South Dakota Republican and co-sponsor of the Senate cow tax bill, S.B. 527, told the news service. “That will include livestock because of the methane created and the greenhouse gas and carbon dioxide emissions in the atmosphere.”
Sen.Charles Schumer, a New York Democrat, is SB 527’s other sponsor.
There also are a pair of bovine flatulence measures moving through the House, one sponsored by Rep. Frank Lucas or Oklahoma, the ranking Republican on the agriculture committee, and one by Rep. Jeff Fortenberry, a Nebraska Republican.” Read more...
According to the non-partisan Congressional Budget Office, the President’s budget proposal for 2010 will produce a $9.3 trillion addition to our current deficit over the next ten years. As with a person or company that borrows money, the federal government must pay interest on all borrowed funds. To do this, the federal government sells U.S. Treasury bonds and bills to people, companies, even foreign countries. Because they were considered the safest product on the market — after all, what other investment could be more sound than the United States government — these bonds and bills were sold at a very low interest rate, giving rise to a low borrowing cost. The U.S. would primarily sell these Treasury bonds and bills to Asian markets and countries in the Middle East, but in addition they were sold to companies and people all over the world.
As the United States deficit grows, however, our need for additional borrowed money grows. Unfortunately, our two largest customers — Asian markets and Middle Eastern countries — have also been experiencing a market decline and falling oil prices, decreasing their ability to purchase these bonds and bills. Even more importantly, as our national debt continues to grow, investors will be less enticed to purchase bonds and bills backed by a government that seems intent on wracking up debt without paying it off.
All of this leads to one clear fact: sometime shortly, we will no longer be able to continue to sell as many Treasury bonds and bills as we need to run the government. So what happens then? Read more…
Rep. Frank Lucas, R-Cheyenne, a member of the House Financial Services Committee, questioned Treasury Secretary Tim Geithner at a hearing today about the plan to use public money and private investors to clear toxic assets off the books of banks, and about executive compensation.
Hat tip: The Oklahoman’s “Inside the Beltway” blog:
Related:
Wilson Research Strategies: Who Takes The Blame For The Bonus Backlash?
Last week, President Obama issued an executive order closing the detention facility at Guantanamo Bay, Cuba, which houses hundreds of suspected terrorists and enemy combatants. I was shocked by this announcement, but even more concerned by the fact that the President had no plans as to what would happen next.
Where would these prisoners, terrorists who are intent on harming Americans, go? Would we release them on American soil? Transport them to American prisons? Return them to their country of origin? And if they stay in this country, what rights would be afforded to them?
If they are released or transferred to another country, we cannot ensure they will not return to the battlefield or attempt to attach Americans or our allies. In fact, according to the Pentagon, 61 detainees who were released from Guantanamo have returned to terrorist activities. Read more…
House GOP to seek meeting with Obama on stimulus
Grab your wallets! Read more…
Inaugural comments from former state rep. Thad Balkman: (Norman Transcript)
“There was more buzz and excitement than the last two (inaugurations),” said former Republican House member Thad Balkman of Norman. “Even nonpolitical or apolitical people are interested. My third and fifth grade children have been asking me all about it.”
Balkman, who was in Washington, D.C., on business, said he went a day early just to witness the event.
“I’m working with several members of Congress who have asked us for input on amendments to the stimulus package,” he said. “I’m meeting with them this week and thought, ‘Why not go a day early and witness this historic event?’ I’m a Republican, but I’m also a student of politics and an American.”
Like millions more, Balkman said he, too, “recognize(s) this historic opportunity — the inauguration of our nation’s 44th and first African American president.”
And while Balkman said he doesn’t agree with many of President Obama’s policies, he gives the new president high marks for being a “bright and inspiriting leader.”
“I will support him where I can,” he said. “President Obama has already shown his penchant for pragmatism working with Senator Coburn and re-appointing Secretary Gates. I expect and hope he will seek out and support the best ideas no matter which side of the political spectrum they come from.” Read more..
Taxpayers….Get ready!
Despite crazed lunatic opinion leaders like the NY Times uber-liberal Thomas Friedman running around saying the sky is falling, the folks who actually run the country won a round with Tuesday’s rejection of the socialization of the nation’s mortgage banking industry.
Cheers to those who voted against the so-called bailout and jeers to those who voted “aye.” The vote clearly defined the difference between the big government crowd and conservatives. On this matter, party affiliation matters very little: true conservatives voted no, the others yes. And while a bailout of some sorts is inevitable, the ensuing bill will be far better than the Giveaway to Billionaires Act that went down in flames Tuesday.
Oklahomans know a little more than most with their past economic struggles, and voters are seething over the Republican-led giveaway of hard-earned tax dollars to Oklahoma fat cats in this year’s legislative session.
Just to set the record straight, while Friedman and Speaker Pelosi and the cartoonish Barney Frank try to spin their way out of this by blaming everybody but themselves, even Frank’s own liberal hometown paper knows who is to blame. The idiotic Friedman blames those pesky voters, but this video proves over and over who really was looking the other way as the sub-prime mortgage house of cards was collapsing.
Meanwhile the action shifts to the Senate today. But our hats are off to congressional delegation members Mary Fallin, John Sullivan and Frank Lucas.
Related:
Green Country Values: Green Country Congressman votes, “No!” on the Bailout
Get Right OK: Does Tom Cole still deserve to be called a Conservative?
Okie Politics: Fallin, Lucas and Sullivan pro-Depression Deux
Right On!: Bailout or Ride it Out?
Hat tip: OklahomaHorizonTV
The Hotline: Pickens On Decline In Price Of Oil: “It’ll Go Up Again”
Right On!: Can we drill your BRAINS!?
Denise Bode: Strengthened Dollar Forces Crude Decline
Is it truly the coming age of energy independence, or just another corporate welfare con job promoted by billionaires seeking to become trillion-aires?
Texas consumers are just the latest to be targeted by the wind power merchants. Texans will be shelling out $4.9 billion dollars to transmit T. Boone Picken’s wind-farm electricity. With Picken’s massive wind energy public information campaign underway in Oklahoma, one would have to assume it’s just a matter of time before the Oklahoma’s rate payers are asked to pony up for wind power, which sounds good and feels good. But the jury is still out as to the long-term benefits, and a disturbing trend is developing with the emergence of crooks who are exploiting the emotional aspect of wind-power to rip off consumers. New York Attorney General Andrew Cuomo is investigating alleged “dirty tricks” in his state. From The Buffalo News:
The allegations include accusations that the companies improperly sought or obtained land-use agreements with public officials and the officials’ relatives and acquaintances; gave bribes and other improper benefits to public officials; and entered into anti-competitive agreements or practices.
“The use of wind power, like all renewable energy sources, should be encouraged to help clean our air and end our reliance on fossil fuels,” Cuomo said in a statement.
“However, public integrity remains a top priority of my office and if dirty tricks are used to facilitate even clean-energy projects, my office will put a stop to it.” Read more…
Right now, all signs point to some big news regarding wind power and Pickens coming soon. The Oklahoma native, who first gained fame as a corporate raider, has, like Al Gore, substantially altered his image to be seen as an ardent environmentalist. With today’s Texas news, we’ll keep watching this story carefully.
Related:
Dallas Morning News:
But Mr. Pickens doesn’t agree with all the Democrats’ energy priorities. Bills to limit speculation on energy prices are “wasting time” and ignore the cause of high prices – not enough oil, he said. “Go ahead and drill on the OCS,” said Mr. Pickens.
Rush Limbaugh: The Windmills of Rock Port, MO
Video: Rep. Frank Lucas Discusses Wind Energy on FOX News
U.S. Sen. Jim Inhofe (R-OK) last week received the U.S. Chamber of Commerce’s “Spirit of Enterprise Award” for his support of pro-growth legislation during the 110th Congress. Accepting the award, Inhofe said:
I am honored to receive the ‘Spirit of Enterprise Award’ from the U.S. Chamber of Commerce. This organization provides an invaluable service to businesses nationwide. I will continue to fight for legislation that helps grow our nation’s economy, keeping America’s businesses the most competitive in the world.
Dan Boren, the only Democrat in the entire House of Representatives to receive the award, said:
I am honored to receive this award. The small business community, energy industry, and other manufacturers are an integral part of Oklahoma’s economy. I am committed to doing everything I can in Congress to help them grow our economy and create additional jobs in Oklahoma.
Tom Donohue, Chamber president and CEO, stated:
Senator Inhofe has proven to be an effective ally to the business community, supporting legislation that helps grow the economy and creates new jobs for hardworking Americans. The Chamber is grateful for Jim’s commitment to these important issues and is proud to present him with this award.
[...]
Representative Boren has proven to be an effective ally to the business community, supporting legislation that helps grow the economy and creates new jobs for hardworking Americans. The Chamber is grateful for Dan’s commitment to these important issues and is proud to present him with this award.
The Oklahomans who were honored were:
The U.S. Chamber is the world’s largest business federation representing more than 3 million businesses of every size, sector, and region. A complete list of the 2007 Spirit of Enterprise recipients is here.
“That ranges from drought to fires to floods to tornados,” said Leeds, a corn, soybeans and wheat farmer in Webbers Falls.
This year, weather won the battle over Leeds’ wheat crop.
“When times are good, do your best and not slack off,” he said. “It’s been very tough between flood and drought.”
He lost his entire wheat crop this year and said he has insurance to cover the cost of the seeds and fertilizer, but not the cost of what he would have made by selling the crop.
Leeds does not depend heavily on federal commodity programs to provide a boost for farmers but does depend on another federal program that helps when crop prices drop.
The new Farm Bill — which is designed to help farmers, enrich conservation and feed low-income population through food stamp and nutrition programs — is stalled in the U.S. Senate and may not meet its 2007 reauthorization deadline if senators don’t act quickly, one legislator warns.
May take a miracle
U.S. Rep. Frank Lucas, R-Okla., is a member of the House Agriculture Committee and a farmer and rancher in the state’s 3rd District. He played a role in drafting the House version of the Farm Bill, which is reauthorized every five years. He said this year’s House version is similar to the 2002 Farm Bill, except that House Democrats inserted a tax increase. He agrees with the content of the bill but not the tax increase, so he voted against the bill. Read more…