Obama's Taxpayer-Funded Bus Tour

It's all porkulus for this administration.

At LAT, "Pivoting from debt fight, Obama plans jobs-focused bus tour."

But see CNS News, "Taxpayers Will Pay for Obama Bus Tour of Battleground States, Says White House."

Double-Dip Recession May Be Returning

Well, I've been writing about this all day, and I'm not surprised at all.

At New York Times:

Until recently, most observers believed the American economy was in a slow recovery, albeit one with very disappointing job growth. The official figures on gross domestic product showed the United States economy grew to a record size in the final three months of 2010, having erased the loss of 4.1 percent in G.D.P. from top to bottom.

Then last week the government announced its annual revision to the numbers for the last several years. New government surveys indicated Americans had spent less than previously estimated in 2009 and 2010 on a wide range of things, including food, clothing and computers. Tax returns showed Americans even cut back on gambling. The recession now appears to have been deeper — a top-to-bottom fall of 5.1 percent — and the recovery even less impressive. The economy is still smaller than it was in 2007.

In June, more American manufacturers said new orders fell than rose, according to a survey by the Institute for Supply Management. The margin was small, but the survey had shown rising orders for 24 consecutive months. Manufacturers in most European countries, including Germany and Britain, also reported weaker new orders.

PREVIOUSLY: "Commerce Department Downward Revision on GDP Growth, 2007-2010."

RELATED: From Roger Simon, "Dow Down 500: Should Obama Resign?" (via Memeorandum).

'I Love Rich People'

From Katie Kieffer, at Townhall, "Why I Hope the Rich Get Richer":

We hurt ourselves by envying, over-taxing and slandering the rich. Anti-wealth public policies will only persuade independently wealthy Americans to shut down their businesses, stop hiring and retire early to their hammocks in the tropics. On the other hand, if we “love” the rich, we will receive the love back in the form of ample jobs, loans, innovations and investments.

Come to think of it, I'm amazed at how infrequently we hear this argument. A great essay. (Via Linkiest.)

Debt Compromise

I'm trying to get caught up on the news.

Check NYT on the debt ceiling debate, "Amid New Talks, Some Optimism on Debt Crisis."

And from LAT, "Congress 'very, very close' to debt-ceiling deal, Mitch McConnell says":

The Senate's top-ranking Republican said Sunday lawmakers are "very, very close" to an agreement to raise the nation's debt limit, as the Congress works to meet an imminent deadline to stave off an unprecedented federal default.

In separate interviews, Sen. Mitch McConnell (R-Ky.) indicated that progress had been made late Saturday in conversations between the White House and congressional leaders on a debt-ceiling plan that could meet with enough support from both parties to move to President Obama's desk by Aug. 2.

McConnell, on CNN's "State of the Union," described a $3 trillion package that included cuts in discretionary spending, caps on future spending and a vote on a Balanced Budget Amendment. A special joint committee would be formed to consider further cuts and entitlement reforms that could be put to a vote in Congress this fall.

The debt ceiling would be raised until after the 2012 presidential election – a key priority for Obama.

"This deal has not been finalized but I think we're very, very close to something I could comfortably recommend to my members, and I believe the Democratic leadership will be doing the same," McConnell said on CBS' "Face The Nation."

Also at Bloomberg, "White House, Republicans Said to Reach Tentative Deal on U.S. Debt Ceiling." (Via Memeorandum.)

I'm going to look more closely at this deal in an update later. Some reports indicate that this is basically the same deal that House Republcans offered weeks ago, and thus Harry Reid and the White House placed America at risk for higher taxes. We know they want more taxes, but everyone's been talking about financial Armageddon, so it pisses me off even more to think about not only our bottomless pit of leftist collectivism, but the lengths of deceit progressives will go to maintain it.

More later ...

Economy Grew at Weak 1.3 Percent in Second Quarter

At LAT, "The U.S. economy grew at a weak rate of 1.3% from April through June, another sign that the recovery has faltered dramatically."

And at Sundries Shack, "Let’s Stop the Clubbing of America":

It’s not so much that President Obama has hamstrung the economy but that he’s methodically stalked it over the past two and a half years.

And now he’s clubbing it to death.

And hear it from the Stalker-in-Chief himself:

See also, Dan Riehl, "O'petulance: Master Barry's Childish Temperament," and Weasel Zippers, "Obama Demands Congress Give Him Debt Bill By Tuesday, Still Refusing To Come Up With His Own Plan…"

Boehner Still Rounding Up Support Ahead of Debt Vote

Well, budget follies continue today, heading toward the deadline, and (some say) the financial apocalypse.

At New York Times, "Boehner Seems Confident of Passing House Debt Vote."

WASHINGTON — The House and Senate headed for a pivotal showdown on Thursday evening over how to cut spending and increase the debt limit before the federal government loses its ability to borrow.

House Republican leaders convened a closed-door party meeting Thursday and appeared confident of winning over holdouts to pass their plan, which would make $900 million in cuts, raise the debt ceiling for a few months, and come back for more of the same later. But Senate Democratic leaders said that if that happened they would waste no time rejecting the legislation.

The Senate majority leader, Harry Reid of Nevada, said Senate Democrats would move immediately Thursday night to set aside the House proposal if it wins passage and then take steps to force a vote on Mr. Reid’s own proposal to raise the debt limit through 2012 in exchange for more than $2 trillion in cuts.

“No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now,” Mr. Reid said.

Lots at Memeorandum on this. And also at Los Angeles Times, "Boehner risking much by going to brink over debt."

Alabama Still Collecting Tax for Confederate Veterans

And not one of them is left alive.

Via Thomas Ricks, "Alabama still collecting taxes to support Confederate pensioners."

And this is evidence that conservatives like taxes? See AP Newswire:

Despite fire-and-brimstone opposition to taxes among many in a state that still has "Heart of Dixie" on its license plates, officials never stopped collecting a property tax that once funded the Alabama Confederate Soldiers' Home, which closed 72 years ago. The tax now pays for Confederate Memorial Park, which sits on the same 102-acre tract where elderly veterans used to stroll.

The tax once brought in millions for Confederate pensions, but lawmakers sliced up the levy and sent money elsewhere as the men and their wives died. No one has seriously challenged the continued use of the money for a memorial to the "Lost Cause," in part because few realize it exists; one long-serving black legislator who thought the tax had been done away with said he wants to eliminate state funding for the park.

Seems to me that if a memorial park is important and valued, people will agree to be taxed to pay for it. And this is another example of the power of government to tilt toward corruption and malfeasance. A memorial park is worth it, but not at the expense of deceit. See the Gadsden Times, "Time to end this tax":

We’re happy to see the park flourishing, and expect it to get a lot of business during the ongoing sesquicentennial celebration of the Civil War.

However, we question the fairness of this particular facility being subsidized to this level by the state — through a tax intended to pay for something that long ago ceased to exist — at a time when other historic tourist attractions in Alabama that receive money from the state’s General Fund are suffering because of budget cuts.

When those cuts were being formulated, Confederate history groups and others made it known they wanted the Mountain Creek park’s earmarked funding left alone, and it was. Support for the park is strong, so it’s likely to survive a vow by Rep. Alvin Holmes, D-Montgomery, to cut off its state money.

We don’t have an issue with the park getting state money, but it ought to come from the same pot similar attractions draw from.

Amazon Wants Voter Referendum to Decide Online Sales Tax

At Los Angeles Times, "Amazon aims to have voters decide on sales-tax law."

I hate government by ballot box, although this one's a referendum rather than initiative, so what the heck? Besides, I miss running Amazon at the blog, and Governor Brown's a blithering idiot.

Taxes Upon Taxes Upon...

At WSJ:

So the fondest Washington hopes for a grand debt-limit deal have broken down over taxes. House Speaker John Boehner said late Saturday that he couldn't move ahead with a $4 trillion deal because President Obama was insisting on a $1 trillion tax increase, and the White House quickly denounced House Republicans for scuttling debt reduction and preventing "the very wealthiest and special interests from paying their fair share."

How dare Republicans not agree to break their campaign promises and raise taxes when the jobless rate is 9.2% and President Obama's economic recovery is in jeopardy?

We think Mr. Boehner is making the sensible choice. No one wants to reform the tax code more than we do, but passing a $1 trillion tax increase first on the promise of tax reform later is a political trap. If the President were really sincere about reform and a willingness to keep the top tax rate at or below 35%, he'd negotiate that at the same time he does a debt deal. Mr. Boehner will have a hard enough time getting any debt-limit increase through the House, much less one that raises tax rates.

Keep in mind that Mr. Obama has already signed the largest tax increase since 1993. While everyone focuses on the Bush tax rates that expire after 2012, other tax increases are already set to hit the economy thanks to the 2010 Affordable Care Act. As a refresher, here's a non-exhaustive list of ObamaCare's tax increases ...

Continue reading.

The New York Times wants folks to believe otherwise, calling for "additional sources of revenue," but that's a laugh, after 28 months and trillions later:

RELATED: From James Pethokoukis, "Goldman Sachs: Debt default is 'extremely unlikely'."