1. Budget Deficit Primed to Grow, Not Shrink
President Obama touted shrinking deficits in today’s State of the Union address. This is about the only time in the foreseeable future the president will get to say that. The average annual deficit over the next decade is projected at $950 billion, just shy of a trillion. Starting this year and looking out as far as projections go, the deficit–absent further policy changes–is only heading in one direction: Up. Why address chronic and rising deficits confronting the nation, when you can enjoy a talking point while it lasts?
2. Obama’s Regulations Weren’t Sensible, They Guarantee Future Bail-Outs for Big Banks, Paid for by the People
President Obama claims credit for crafting “sensible regulations” that will prevent another financial crisis as well as a new government “watchdog” to protect consumers. But the massive Dodd-Frank regulation statute actually entrenches the concept of “too-big-to-fail,” the very concept upon which bailouts are based. And the new “watchdog,” the Consumer Financial Protection Bureau, has exploited its unconstrained regulatory powers over virtually every aspect of consumer finances, including banking services, mortgages and credit cards—none of which had any connection to the financial crisis. The result has been higher costs for financial services and fewer options, which actually has inhibited the economic recovery and consumer welfare.
Read more about the disappointing State of the Union 2015 HERE.
Illegal Alien Seated with Michelle Obama as Guest of Honor at SOTU
By Susan Jones. Ana Zamora, who came to the United States illegally, is among the 22 people selected to sit with First Lady Michelle Obama at tonight’s State of the Union address.
This is an honor bestowed on people who provide a human face for the liberal agenda that President Obama will lay out. Ana is the face of Obama’s executive amnesty, which conservative Republicans call an affront to the U.S. Constitution.
The White House describes Ana as a “letter writer, student, DREAMer.” She was brought here illegally as a child by parents who were themselves illegal aliens, and that’s exactly why she’s being honored by the White House.
If President Obama has his way, Ana and her parents will never be deported. They will be among the millions of “undocumented immigrants” who are allowed to stay in this country, something that is contrary to current law, but in accordance with directives issued by President Obama after Congress refused to enact his immigration plan. (Read more from this story HERE)
Proposed Tax Hikes Part of Every One of Obama’s State of the Union Speeches
By Jason Russel. Proposed tax hikes on capital gains and banks [were] included in President Obama’s State of the Union address Tuesday . . . The announcement continues Obama’s tradition of proposing tax hikes in his six previous State of the Union addresses dating back to 2009. Here’s a list detailing Obama’s proposed tax hikes:
Obama will call for a capital gains tax hike on high-earners from 23.8 percent to 28 percent, nearly double the 15.35 percent rate when he took office. He also wants to change the treatment of inherited capital gains so that inheritors end up paying more to the government. Banks with assets over $50 billion would also be hit with a new 0.07 percent tax on their liabilities, raising $100 billion over 10 years. These changes combine for a $300 billion tax increase over 10 years.
Obama proposed closing tax loopholes to raise effective tax rates and using the revenue for infrastructure spending. He also wanted to close tax breaks that he said give “$4 billion a year to fossil fuel industries.” The 2014 State of the Union had the fewest references to taxes of Obama’s addresses so far. (Read more about the proposed tax hikes HERE)
Ingraham: Obama Tax Proposal About Populist Theme For Hilary Clinton
By Ian Hanchett. Talk radio host Laura Ingraham said that President Obama’s tax proposals were about “trying to set a populist theme for Hillary Clinton” on Tuesday.
“He’s [Obama] getting his party ready for 2016. He wants to do what George W. Bush couldn’t do in 2008. George W. Bush couldn’t campaign…for the Republican nominee…They didn’t want him anywhere near the conventions” she stated.
Ingraham continued “Obama wants to be the anti-Bush when it comes to that, so he wants to set the themes for 2016. What he’s doing in this State of the Union speech is not thinking he’s going to get all this passed through Congress, he won’t…but he’s trying to set a populist theme for Hillary Clinton.” (Read more from this story HERE)