Budgeting Time for Barack-etology

As March Madness begins in earnest today, President Obama took the time before his quick Spring Break trip to the Middle-East to fill out his NCAA March Madness Brackets.  

The Celebrity-in-Chief then taped an ESPN segment to explain his choices--

While the POTUS picks have been one in four during his tenure in the Oval, it calls for an even basic question--why is he wasting time on inconsequential items when he has a nation that he should be governing?

As sequestration comes into full effect, and the Obama Administration cancelled school tours of the White House and threatens the Easter Egg Roll (while still having costly golf outings with Tiger Woods and a St. Paddy's Day party), he vexes over college hoops.   As Senators John McCain (R-AZ) and Lindsey Graham (R-SC) call for US boots on the ground in Syria, additional missile interceptors are deployed on the West Coast for a North Korean nuclear ICBM threat and Iran is close to having nuclear weapons, our re-elected leader plays with Barack-etology? 

The law requires that the Executive Branch submits its Federal Budget by February 4th.  As it stands,  the Obama Administration won't have it done by April Fools Day. 

If it's any consolation,  Barack Budgets have gotten zero votes in  Congress. So it seems that he does better at his Bracketology than budgeting anyways. 

Perhaps we could profit from the POTUS picks and make up the sequestration shortfall.  But considering that he chose safe picks: Ohio State, Florida, Louisville and Indiana, it won't have much of a payout.  Unlike if someone chose in Paddy Pool chose Cardinal Jorge Mario Bergoglio in the Conclave Championship --The Sweet Sistine. The man who became Pope Francis paid off at 33-1. 

We do not need  bread and circuses.  We need leadership from Washington.  A couple of weeks ago, President Obama went through the motions of a Capitol Hill charm offensive.  Then he cracks wise against Congress when setting foot on foreign soil. It make one wonder if he is serious about the responsibilities as the Leader of the Free World, or if he just seriously enjoys the spotlight and the trappings of the Oval Office.  

Lotto Luck Avoiding the Fiscal Cliff

As American teeters at the edge of the fiscal cliff, and most of the Lamestream Media gave saturation coverage to Powerball mania, it may be instructive to use the lotto fever paradigm to explain the futility of “soaking the rich” via President Obama’s unceasing class warfare campaigning as governing strategy.

As the Heritage Foundation’s graphic illustrates, even confiscating all of the lucky Lotto winners gross (granted government already takes around 50%), this would only fund the Federal Government for 86 MINUTES.  As Representative Tom Price (R-GA 6th) pointed out that President Obama’s plan to increase rates on the wealthiest 2% of Americans would only fund the government for EIGHT DAYS.  John Stossel points out that seizing the income of Americans earning $1 million or more would only garner $616 Billion, which is only 1/3rd of this year’s deficit.

It is worth noting that Mr. Obama’s opening bid to avoid the fiscal cliff was raising taxes by $1.6 Trillion over 10 years with ambiguous ersatz spending cuts made by future legislators.

Unless the IRS dons brown shirts, they probably will not seize all of the assets of the richy rich.  And remember that the Obama Administration considers the rich to be singles making $200,000 or couples making $250,000 a year.  Those upper incomes might be living large in “flyover” country, but in the true politically blue coastal cities like NY, DC, LA or SF, that may be barely getting by as middle class if you are married with children.



Much as it may be satisfying to socialist sympathsizing class warriors who want to excoriate the unconnected high income individuals, it is worth doing a cost benefit analysis.  Great Britain scrapped their 50% tax rates on high income earners when it discovered that it was garnering 2/3rds less than expected with the confiscatory rates.   Newly elected French President Francois  Hollande thinks that he can raise the rates on top Gallic grossers to 75% for just two years to better balance the books.  Alas, French tax evaders can take a 90 minute trip on the Chunnel to avoid those outrageous tax rates.  Soon Californian will see if there is capital flight after voters passed Proposition 30, which raised both taxes on the wealthy and the state sales tax in the midst of a shaky economy.  Will the mobile upper economic crust from the Golden State flee to lower taxing states–Who is John Galt?

While conservatives were disappointed that President Obama achieved re-election, the time for being campaigner-in-chief is over–now is the time to govern.  If President Obama is a leader then he should work with his Congressional counterparts to craft a legislative vehicle to avoid the fiscal cliff.  But if the Obama White House persists in playing puerile politics on Sequestration, then it may be time for Thelma and Louise, albeit without the sensible shoes.




If the American public thinks that by soaking the wealthiest one percent, it will balance the budget, then lotto luck.  If they are able to engage in critical thinking, it would behoove them to determine what is someone’s “fair share”.  Moreover, since the Obama Administration has defined millionaires downward to just $200,000, they should discern how low the label of the wealthy will go when seizing true millionaire’s incomes only funds the government for around just 100 days.  As Ayn Rand observed in Atlas Shrugged: “If you don't know, the thing to do is not to get scared, but to learn.”

h/t: Heritage.org