U.S. For Sale: Obama Lets China Gobble Up U.S. Energy

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Photo Credit: abangbay @ MalaysiaOil And Politics: Beijing plays the debt card as the Obama administration quietly lets China acquire major ownership interests in oil and natural gas resources across the U.S. at the same time it blocks the Keystone pipeline.

Normally, foreign investment in the U.S. is to be welcomed. It creates jobs, boosts economic growth and promotes trade and exports.

But when that investor is an ambitious and increasingly belligerent China to whom we owe over a trillion dollars, eyebrows and concerns need to be raised.

Reversing a Bush administration policy, the Obama administration is encouraging Beijing to acquire equity interests in U.S. energy. In 2005, the Bush administration blocked China on grounds of national security from buying California-based Unocal Corp. for $18.4 billion.

That was then, and this is now.

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Airstrike Embroils Israel in Syrian Conflict

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Photo Credit: muffinnJERUSALEM — With the attack in Syria, Israel took its first overt military step into the “Arab Spring” unrest that has destabilized its neighbors and left Israelis feeling more vulnerable than they have in decades.

Israel’s goal was apparently to deny sophisticated weapons to Hezbollah militants in Lebanon, and may not have been intended to stir the pot in Syria. But whether by intent or circumstance, Israel has inserted itself into a civil war that thus far had very little to do with it — and which other Western nations, including the U.S., have kept at arm’s length out of concern that military engagement could only make things worse.

“Until now, Israel avoided becoming involved in this quagmire in Syria,” said Moshe Maoz, a former government security advisor and a Syria expert at Hebrew University. “Now this may be the first sign that Israel has decided to escalate actions to cause [President Bashar] Assad’s downfall.”

Other analysts disagreed that Israel was intending to undermine Assad, especially since any successor to the Syrian leader could prove to be even more hostile. Still, the Syria strike may signal a new willingness by Israel to intervene in the region’s problems.

Israel has not confirmed or denied the reported attack, which took place early Wednesday. News accounts based on anonymous sources from the United States and elsewhere suggested that Israeli fighters struck a military convoy with weapons destined for Hezbollah, which is closely allied with Damascus. The arms were said to include Russian SA-17 antiaircraft missiles, which could significantly boost Hezbollah’s defensive capabilities.

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Mission Accomplished: Obama’s Jobs Council Shut Down

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Photo Credit: WarmSleepyPresident Barack Obama will let his jobs council expire this week without renewing its charter, winding down one source of input from the business community even as unemployment remains stubbornly high.

When Obama in January 2011 formed his Council on Jobs and Competitiveness, unemployment was hovering above 9 percent. Two years president later, more than 12 million people in the U.S. are out of work. The unemployment rate has improved to 7.8 percent, but both parties agree that’s still too high.

A provision in Obama’s executive order establishing the council says it sunsets on Thursday. A White House official said the president does not plan to extend it.

Officials said the president always intended for the council to fulfill its mission and then wind down, and said that Obama would continue to actively engage and seek input from business leaders about ways to accelerate job-creation and economic growth. Among the steps Obama plans to pursue are expedited permits for infrastructure projects, the White House said.

Even before it was clear whether Obama would renew the jobs council, Republicans seized on its likely expiration as evidence the president has devoted insufficient attention to creating jobs, which polling shows remains a top priority for Americans. The Republican National Committee dubbed it part of “the failed Obama record,” while the House Republicans’ campaign committee, in an online petition, accused Obama of laying off his own jobs council.

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‘Panicked’ Iran Makes Power Move After Nuke-site Loss

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Two days after WND’s exclusive report on the devastating explosions at Iran’s Fordow nuclear site, Tehran informed the United Nations’ nuclear watchdog it was going to install thousands of modern centrifuges at another of its nuclear facilities in an apparent move to restore its bargaining position.

In a Jan. 23 letter to the U.N.’s International Atomic Energy Agency, the IAEA, Iran said it plans to install thousands of its upgraded centrifuges at the Natanz facility. Russian Foreign Minister Sergei Lavrov said in Moscow today that Iran has every legal right under its obligations to the IAEA to enrich uranium, even with the more modern centrifuges.

Russian Foreign Minister Sergei Lavrov said in Moscow today that Iran has every legal right under its obligations to the IAEA to enrich uranium, even with the more modern centrifuges.

Iranian media viewed Lavrov’s remarks as supportive of the decision. But the Russian minister also urged the Islamic regime to “freeze enrichment operations” during the negotiations with the 5-plus-1 countries, the permanent members of the U.N. Security Council plus Germany.

The White House this afternoon called Iran’s decision “provocative.”

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HHS Made $64.2 Billion in ‘Improper Payments’ in Fiscal 2012

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Photo Credit: Tax CreditsThe Department of Health and Human Services (HHS) made $64.2 billion in “improper payments” in fiscal 2012, according to the federal website PaymentAccuracy.

The the bulk of those improper payments were made by Medicare and Medicaid, the government health-care programs.
The government defines an “improper payment” as one that is not backed up by documentation, is used by the recipient in an improper manner, goes to the wrong recipient, or goes to the right recipient but is an overpayment or underpayment.

The government defines an “improper payment” as one that is not backed up by documentation, is used by the recipient in an improper manner, goes to the wrong recipient, or goes to the right recipient but is an overpayment or underpayment.

The HHS made the $64.2 billion in improper payments in fiscal 2012 through five programs that the Office of Management and Budget calls “high-error programs.”

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Senate Passes Bill to Suspend Debt Ceiling

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Photo Credit: cliff1066â„¢The Senate on Thursday approved legislation that prevents the U.S. from hitting its debt limit until May 19, sending the legislation to President Obama.

In a 64-34 vote, the Senate gave its blessing to a House bill that suspends the debt ceiling until May 19, when the Treasury Department will need to use “extraordinary measures” to keep paying the nation’s bills.

Republican Sens. Kelly Ayotte (N.H.), Roy Blunt (Mo.), Thad Cochran (Miss.), Susan Collins (Maine), Lindsey Graham (S.C.), Dean Heller (Nev.), John Hoeven (N.D.), Lisa Murkowski (Alaska), Richard Shelby (Ala.), John Thune (S.D.) and Roger Wicker (Miss.) voted with the Democratic caucus to pass the legislation. Two Democrats — Sens. John Kerry (Mass.) and Patty Murray (Wash.) — missed the vote.

The bill allows Treasury to borrow what ever sum is necessary to keep the U.S. from going over the debt ceiling until May 19. Unless Congress acts again, Treasury on that date will add what ever it has spent to the nation’s current $16.4 trillion ceiling.

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Fed’s Ivory Tower Just Got Smaller

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Photo Credit: fbobolasToday’s weaker than expected GDP report shows just how out of touch most professional economists remain with respect to the fundamental weakness of the US economy. After more than four years of nearly never ending monetary stimulus and more than $5 trillion worth of new federal debt, the economy remains stuck in a serious recession.

The report shows that federal stimulus and deficit spending can’t create sustainable economic growth.

Although the tepid data shocked many economists, I was not surprised. I believe zero growth is consistent with the state of the real economy. The stronger growth numbers that we saw in the second half of 2012 were likely inflated due to pre-election hopes.

The disappointing economic data takes on an even gloomier tone when considered against factors that will make recovery that much more difficult. Interest rates are making their first strong upward move in nine months. Yields on 10 year Treasury bonds are up 60 basis points since the end of July, and are over 2.00% for the first time since April 2012.

The dollar is falling against most currencies except the Japanese yen (it is down more than 11% against the Euro since July), and energy prices are rising (crude oil is approaching $100 per barrel). Although these conditions are not promising, the stock market seems blissfully out of touch. As of yesterday, the S&P 500 had advanced for 8 days in a row, its longest daily winning streak in eight years.

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Video: NRA President Says Anti-Gun Advocates Threatened to Kill Son, Daughter

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Photo Credit: Gage SkidmoreIn an interview with Ginni Thomas of The Daily Caller, NRA President David Keene called out President Obama and his allies for their hypocrisy relating to civil discourse.

Civility is clearly a one-way street. Conservatives are expected to act in concert with the cannons of common decency, but liberal are constrained by no such law.

Keene went on to tell how an advocate of gun control had threatened the life of his son and daughter upon finding out who their father was.

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9/11 Families Dub Efforts to Boycott ‘Zero Dark Thirty’ ‘McCarthy’-Like

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Photo Credit: doctorseroneWe’ve already heard from film critics, actors and politicians regarding Zero Dark Thirty, the film depicting the successful hunt for Osama bin Laden.

A trio of senators scorched the film for allegedly showing enhanced interrogation tactics helped nab bin Laden. Far-left actors like Ed Asner pounced on this theme, vowing to boycott the film’s Oscar chances.

Now, families who lost loved ones on 9/11 are raising their voices on the issue. And boy are they angry.

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Video: Chuck in the Muck – Hagel Skewered By Senator Cruz for Calling US “World’s Bully” on Al Jazeera Network

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Former Sen. Chuck Hagel on Thursday faced a barrage of criticism about his fitness to be the next defense secretary, including his agreement with a controversial statement that the United States is the “world’s bully.”

President Barack Obama’s nominee to be defense secretary ran into sharp opposition from Republicans on the Senate Armed Services Committee who questioned Hagel on an array of controversial policies.

Senators questioned Hagel about his opposition to tough U.S. policies toward Iran, his calling the successful U.S. military surge in Iraq a “blunder,” and his support for sharp unilateral cuts in U.S. nuclear forces.

Hagel also backtracked on past statements that a “Jewish lobby” was intimidating the Senate into adopting “dumb” policies.

Hagel maintained a calm demeanor but at several points in the hearing appeared unprepared for some questions during seven hours of testimony.

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