Jim Webb, a hypocrite

Jim Webb used his military record to get elected, but McCain should “calm down” about his military record. I love the way the pundit on this show says McCain has no answers to America’s problems. Excuse me McCain wants to drill which will build a bridge to alternative energy. If we don’t, oil and gas will be double in a few years. While the next new clean energy is at least 15 years away for the masses. If you want even higher gas and food prices, go ahead Libs and continue to stop drilling for oil and gas. I say that the Democrat party has no answers.

McCain on $4 gallon gas - Drill !!!

Go, go, go!!!! We need oil and gas now. I’m all for renewable sources of energy, but we need oil now. Even if we find the next best oil replacement, it will takes decades to get it to the consumer.

Whoever controls oil controls much more than oil. And in our time, much of the world’s oil supply is controlled by states, regimes, and a cartel for which America’s well being is not exactly a priority. Many occupy a violent part of the world — a region all the more violent for the influence of oil wealth. Their opinion of America runs the full spectrum from indifference to hatred. And yet these regimes are today the masters of the oil market.

Somehow the United States — in so many ways the most self-reliant of nations — has allowed and at times even encouraged this state of affairs. This was a troubling situation 35 years ago. It was an alarming situation twenty years ago. It is a dangerous situation today. And starting in the term of the next president, we must take control over our own energy future, and become once again the master of our fate.

Energy policy has enormous implications for America’s economic security, our environmental security, and, above all, our national security. Each one of these challenges demands our concentrated consideration. And each one requires that we look beyond the special interests that too often dominate energy policy. We need to draw on the best ideas of both parties, and work together for the common good.

As in other challenges that confront our nation, we must shape events, and not simply manage crises. We must steer far clear of the errors and false assumptions that have marked the energy policies of nearly twenty Congresses and seven presidents. There are dangers in the long term and dangers in the short term. Some tasks will be the work of decades, and some the work of years. And they all will begin in the term of the next president.

But to make the great turn away from carbon-emitting fuels, we will need all the inventive genius of which America is capable. We will need as well an economy strong enough to support our nation’s great shift toward clean energy. And this gives us only further incentive to protect ourselves from the sudden shocks and ever-rising prices that come with our dependence on foreign oil.

Up to a point, these sudden rises in the price of oil are explainable in the terms of basic economics. When demand exceeds supply, prices always rise, and this has happened very dramatically in the demand for oil. Two powerful forces in the oil market today are China and India, nations in which a third of humanity is suddenly entering the industrial era — with all the cars, construction, and consumption of oil that involves.

It takes a very short leap in logic to wonder why we produce less and less crude oil, while we use more and more of it, or why politicians talk so much about promoting alternative energy sources, but often do so little to promote these alternatives. A reasonable observer, presented only with these numbers of consumption and production, might draw the conclusion that America has accepted this fate because we have no choice in the matter, or because we have no resources of our own. But just the opposite is true: We do have resources, and we do have a choice.

In oil, gas, and coal deposits, we have enormous energy reserves of our own. And we are gaining the means to use these resources in cleaner, more responsible ways. As for offshore drilling, it’s safe enough these days that not even Hurricanes Katrina and Rita could cause significant spillage from the battered rigs off the coasts of New Orleans and Houston. Yet for reasons that become less convincing with every rise in the price of foreign oil, the federal government discourages offshore production.

At the very least, one might assume, America had surely been building new refineries to achieve a more efficient delivery of gasoline to market, and thereby to lower the prices paid by the American people — especially in the summer season. But the policymakers in Washington haven’t got around to that, either. There’s so much regulation of the industry that the last American refinery was built when Jerry Ford was president.

McCain said what about Global Warming?

What is McCain talking about? Bigger government and higher taxes is what this global warming junk science is about. Look at Al Gore getting rich off bogus carbon credits. All of the presidential nominees want this. How does this differentiate McCain from Clinton and Obama? Great, now McCain is doing the same as Al Gore’s carbon credits, but for industry and nations.

As a program under the Clean Air Act, the cap-and-trade system achieved enormous success in ridding the air of acid rain. And the same approach that brought a decline in sulfur dioxide emissions can have an equally dramatic and permanent effect on carbon emissions. Instantly, automakers, coal companies, power plants, and every other enterprise in America would have an incentive to reduce carbon emissions, because when they go under those limits they can sell the balance of permitted emissions for cash. As never before, the market would reward any person or company that seeks to invent, improve, or acquire alternatives to carbon-based energy. It is very hard to picture venture capitalists, corporate planners, small businesses and environmentalists all working to the same good purpose. But such cooperation is actually possible in the case of climate change, and this reform will set it in motion.

Listen to how green tariffs being talked about by all the Presidential Candidates could cause your standard of living to go down the same as “your house burning down”.

Interviewee: Sebastian Mallaby , Director, Center for Geoeconomic studies, Council of Foreign Relations

Listen to the podcast for yourself.

Read about what an NASA scientist has to say about this:

McCain pointed to shrinking Arctic sea ice and collapsing Antarctic ice shelves as obvious evidence that humans are to blame, even though the sea ice did the same thing in the 1920s and 1930s, and those ice shelves must break off eventually, as new glacial ice flows toward the sea to take their place.

Even though there has never been a single scientific paper published that has ruled out natural variability for most of the warming we’ve seen since 1850, Big Science has managed to convince politicians and much of the public that the science is settled. Apparently, our addition of nine molecules of carbon dioxide to each 100,000 molecules of air over the last 150 years can now be blamed for anything and everything we choose. Hurricanes, tornadoes, heat waves, floods, glaciers flowing toward the sea…. all of these used to happen naturally, but no more.

The warming that allowed the Vikings to farm in Greenland 1,000 years ago was surely natural. But we are now told that warming in Greenland today is surely manmade. Glaciers retreating in western Canada have revealed evidence of previous forests, showing that warming and cooling cycles do indeed occur, even without SUVs. Yet the SUV is now the scapegoat for retreating glaciers.

Read the article for yourself.

Watch the video about Greenland.

McCain on Tax Reform

Way to go McCain!!! Some straight talk on taxes.

As president, I will also order a prompt and thorough review of the budgets of every federal program, department, and agency. While that top to bottom review is underway, we will institute a one-year pause in discretionary spending increases with the necessary exemption of military spending and veterans benefits. “Discretionary spending” is a term people throw around a lot in Washington, while actual discretion is seldom exercised. Instead, every program comes with a built-in assumption that it should go on forever, and its budget increase forever. My administration will change that way of thinking.

I’ll hold the agencies of the federal government accountable for the money they spend. I’ll make sure the public helps me, and I’ll provide federal agencies with the best executive leadership that can be found in America. We’re going to make every aspect of government purchases and performance transparent. Information on every step of contracts and grants will be posted on the Internet in plain and simple English. We’re going to post an agency’s performance evaluation as well. We’re going to demand accountability. We will make sure that federal spending serves the common interests… that failed programs are not rewarded… and that discretionary spending is going where it belongs — to essential priorities like job training, the security of our citizens, and the care of our veterans.

The goal of reform, however, is not merely to check waste and keep a tidy budget process — although these are important enough in themselves. The great goal is to get the American economy running at full strength again, creating the opportunities Americans expect and the jobs Americans need. And one very direct way to achieve that is by taking the savings from earmark, program review, and other budget reforms — on the order of 100 billion dollars annually — and use those savings to lower the business income tax for every employer that pays it.

Better tax policy is just one part of a pro-growth agenda that includes smarter regulation and a leaner, more focused government. Among the many benefits to America, these reforms will help to create jobs, improve the investment climate, attract global investors, and strengthen the dollar. So I will send to Congress a proposal to cut the taxes these employers pay, from a rate of 35 to 25 percent. As it is, we have the second-highest tax on business in the industrialized world. High tax rates are driving many businesses and jobs overseas — and, of course, our foreign competitors wouldn’t mind if we kept it that way. But if I am elected president, we’re going to get rid of that drag on growth and job creation, and help American workers compete with any company in the world.

I will also send to the Congress a middle-class tax cut — a complete phase-out of the Alternative Minimum Tax to save more than 25 million middle-class families more than 2,000 dollars every year.

Our tax laws and those who enforce them should treat all citizens with respect, whether they are married or single. But mothers and fathers bear special responsibilities, and the tax code must recognize this. Inflation has eroded the value of the exemption for dependents. I will send to Congress a reform to increase the exemption — with the goal of doubling it from 3,500 dollars to 7,000 dollars for every dependent, in every family in America.

The tax laws of America should also promote and reward innovation, because innovation creates jobs. Tax laws should not smother the ingenuity of our people with needless regulations and disincentives. So I will propose and sign into law a reform agenda to permit the first-year expensing of new equipment and technology… to ban Internet taxes, permanently… to ban new cell phone taxes… and to make the tax credit for R&D permanent, so that we never lose our competitive edge.

It is not enough, however, to make little fixes here and there in the tax code. What we need is a simpler, a flatter, and a fair tax code. As president, I will propose an alternative tax system. When this reform is enacted, all who wish to file under the current system could still do so. And everyone else could choose a vastly less complicated system with two tax rates and a generous standard deduction. Americans do not resent paying their rightful share of taxes — what they do resent is being subjected to thousands of pages of needless and often irrational rules and demands from the IRS. We know from experience that no serious reform of the current tax code will come out of Congress, so now it is time to turn the decision over to the people. We are going to create a new and simpler tax system — and give the American people a choice.

Get Ready for the $40 million Smear Job

The Democrats are planning a $40 million smear job against McCain. Read the article for yourself.

Obama distorts McCain’s “100 years in Iraq” comment again

from hotair.com posted with vodpod

McCain and “100 years”

I keep hearing that McCain wants to stay in Iraq for 100 years. The libs are making it sound like we will be in Iraq fighting this war for 100 years which is bogus. The reality is that we are still in every major country that we have ever had a war with that was successful. We are still in Germany, Japan, South Korea, well you get the picture. I kept wondering where this came from? Did McCain say this in a speech? No it was in answering a question. Here is the video.

McCain on why we can’t pull out of Iraq too soon

“We have incurred a moral responsibility in Iraq. It would be an unconscionable act of betrayal, a stain on our character as a great nation, if we were to walk away from the Iraqi people and consign them to the horrendous violence, ethnic cleansing, and possibly genocide that would follow a reckless, irresponsible, and premature withdrawal. Our critics say America needs to repair its image in the world. How can they argue at the same time for the morally reprehensible abandonment of our responsibilities in Iraq?

Those who claim we should withdraw from Iraq in order to fight Al Qaeda more effectively elsewhere are making a dangerous mistake. Whether they were there before is immaterial, al Qaeda is in Iraq now, as it is in the borderlands between Pakistan and Afghanistan, in Somalia, and in Indonesia. If we withdraw prematurely from Iraq, al Qaeda in Iraq will survive, proclaim victory and continue to provoke sectarian tensions that, while they have been subdued by the success of the surge, still exist, as various factions of Sunni and Shi’a have yet to move beyond their ancient hatreds, and are ripe for provocation by al Qaeda. Civil war in Iraq could easily descend into genocide, and destabilize the entire region as neighboring powers come to the aid of their favored factions. I believe a reckless and premature withdrawal would be a terrible defeat for our security interests and our values. Iran will also view our premature withdrawal as a victory, and the biggest state supporter of terrorists, a country with nuclear ambitions and a stated desire to destroy the State of Israel, will see its influence in the Middle East grow significantly. These consequences of our defeat would threaten us for years, and those who argue for it, as both Democratic candidates do, are arguing for a course that would eventually draw us into a wider and more difficult war that would entail far greater dangers and sacrifices than we have suffered to date. I do not argue against withdrawal, any more than I argued several years ago for the change in tactics and additional forces that are now succeeding in Iraq, because I am somehow indifferent to war and the suffering it inflicts on too many American families. I hold my position because I hate war, and I know very well and very personally how grievous its wages are. But I know, too, that we must sometimes pay those wages to avoid paying even higher ones later.”

Way to Go McCain - straight Talk on the Mortgage Crisis !!!

The speech McCain gave March 25, 2008.

The past decade witnessed the largest increase in home ownership in the past 50 years. Home ownership is part of the American dream, and we want as many Americans as possible to be able to afford their own home. But in the process of a huge, and largely positive, upturn in home construction and ownership, a housing bubble was created.

A bubble occurs when prices are driven up too quickly, speculators move into markets, and these players begin to suspend the normal rules of risk and assume that prices can only move up - but never down. We’ve seen this kind of bubble before - in the late 1990s, we had the technology bubble, when money poured into technology stocks and people assumed that those stock values would rise indefinitely. Between 2001 and 2006, housing prices rose by nearly 15 percent every year. The normal market forces of people buying and selling their homes were overwhelmed by rampant speculation. Our system of market checks and balances did not correct this until the bubble burst.

A sustained period of rising home prices made many home lenders complacent, giving them a false sense of security and causing them to lower their lending standards. They stopped asking basic questions of their borrowers like “can you afford this home? Can you put a reasonable amount of money down?” Lenders ended up violating the basic rule of banking: don’t lend people money who can’t pay it back. Some Americans bought homes they couldn’t afford, betting that rising prices would make it easier to refinance later at more affordable rates. There are 80 million family homes in America and those homeowners are now facing the reality that the bubble has burst and prices go down as well as up.

Of those 80 million homeowners, only 55 million have a mortgage at all, and 51 million are doing what is necessary - working a second job, skipping a vacation, and managing their budgets - to make their payments on time. That leaves us with a puzzling situation: how could 4 million mortgages cause this much trouble for us all?

The other part of what happened was an explosion of complex financial instruments that weren’t particularly well understood by even the most sophisticated banks, lenders and hedge funds. To make matters worse, these instruments - which basically bundled together mortgages and sold them to others to spread risk throughout our capital markets - were mostly off-balance sheets, and hidden from scrutiny. In other words, the housing bubble was made worse by a series of complex, inter-connected financial bets that were not transparent or fully understood. That means they weren’t always managed wisely because people couldn’t properly quantify the risk or the value of these bets. And because these instruments were bundled and sold and resold, it became harder and harder to find and connect up a real lender with a real borrower. Capital markets work best when there is both accountability and transparency. In the case of our current crisis, both were lacking.

Because managers did not fully understand the complex financial instruments and because there was insufficient transparency when they did try to learn, the initial losses spawned a crisis of confidence in the markets. Market players are increasingly unnerved by the uncertainty surrounding the level of risk, liability and loss currently in the financial system. Banks no longer trust each other and are increasingly unwilling to put their money to work. Credit is drying up and liquidity is now severely limited - and small business and hard-working families find themselves unable to get their usual loans.

The net result is the crisis we face. What started as a problem in subprime loans has now convulsed the entire financial system.

Let’s start with some straight talk:

I will not play election year politics with the housing crisis. I will evaluate everything in terms of whether it might be harmful or helpful to our effort to deal with the crisis we face now.

I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers. Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy.

In our effort to help deserving homeowners, no assistance should be given to speculators. Any assistance for borrowers should be focused solely on homeowners, not people who bought houses for speculative purposes, to rent or as second homes. Any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren’t. I will consider any and all proposals based on their cost and benefits. In this crisis, as in all I may face in the future, I will not allow dogma to override common sense.

When we commit taxpayer dollars as assistance, it should be accompanied by reforms that ensure that we never face this problem again. Central to those reforms should be transparency and accountability.

Homeowners should be able to understand easily the terms and obligations of a mortgage. In return, they have an obligation to provide truthful financial information and should be subject to penalty if they do not. Lenders who initiate loans should be held accountable for the quality and performance of those loans and strict standards should be required in the lending process. We must have greater transparency in the lending process so that every borrower knows exactly what he is agreeing to and where every lender is required to meet the highest standards of ethical behavior.

Policies should move toward ensuring that homeowners provide a responsible down payment of equity at the initial purchase of a home. I therefore oppose reducing the down payment requirement for FHA mortgages and believe that, as conditions allow, the down payment requirement should be raised. So many homeowners have found themselves owing more than their home is worth, because many never had much equity in the house to begin with. When conditions return to normal, GSEs (Government Sponsored Enterprises) should never insure loans when the homeowner clearly does not have skin in the game.

In financial institutions, there is no substitute for adequate capital to serve as a buffer against losses. Our financial market approach should include encouraging increased capital in financial institutions by removing regulatory, accounting and tax impediments to raising capital.

I am prepared to examine new proposals and evaluate them based on these principals. But I think we need to do two things right away. First, it is time to convene a meeting of the nation’s accounting professionals to discuss the current mark to market accounting systems. We are witnessing an unprecedented situation as banks and investors try to determine the appropriate value of the assets they are holding and there is widespread concern that this approach is exacerbating the credit crunch.

We should also convene a meeting of the nation’s top mortgage lenders. Working together, they should pledge to provide maximum support and help to their cash-strapped, but credit worthy customers. They should pledge to do everything possible to keep families in their homes and businesses growing. Recall that immediately after September 11, 2001 General Motors stepped in to provide 0 percent financing as part of keeping the economy growing. We need a similar response by the mortgage lenders. They’ve been asking the government to help them out. I’m now calling upon them to help their customers, and their nation out. It’s time to help American families.

More important than the events of the past is the promise of the future. The American economy is resilient and diverse. Even as financial troubles weigh upon it other parts of the economy hold up or even continue to grow. I have spoken at length in other settings about the need to keep taxes low on our families, entrepreneurs, and small businesses; to make the tax code simpler and fair by eliminating the Alternative Minimum Tax that the middle class was never intended to pay; to improve the ability of our companies to compete by reducing our corporate tax rate, which today are the second highest rates in the world;to provide investment incentives; to control rising health care costs that threaten the budgets of our businesses and families; to improve education and training programs; and to ensure our ability to sell to the 95 percent of the world’s customers that lie outside U.S. borders.

These are important steps to strengthen the foundations of the millions of businesses small and large that provide jobs for American workers. There is no government program or policy that is a substitute for a good job. These steps would also strengthen the U.S. dollar and help to control the rising cost of living that hurts our families. These are important issues in this campaign and the debate with my Democrat rivals. But I will get my chance to talk further another day. Now I look forward to hearing from our small business owners - the very lifeblood of our economy.