Bergdahl declared jihad in captivity, secret documents show
By James Rosen
Published June 06, 2014
FoxNews.com
U.S. Army Sgt. Bowe Bergdahl at one point during his captivity converted to Islam, fraternized openly with his captors and declared himself a “mujahid,” or warrior for Islam, according to secret documents prepared on the basis of a purported eyewitness account and obtained by Fox News.
The reports indicate that Bergdahl’s relations with his Haqqani captors morphed over time, from periods of hostility, where he was treated very much like a hostage, to periods where, as one source told Fox News, “he became much more of an accepted fellow” than is popularly understood. He even reportedly was allowed to carry a gun at times.
The documents show that Bergdahl at one point escaped his captors for five days and was kept, upon his re-capture, in a metal cage, like an animal. In addition, the reports detail discussions of prisoner swaps and other attempts at a negotiated resolution to the case that appear to have commenced as early as the fall of 2009.
The reports are rich in on-the-ground detail — including the names and locations of the Haqqani commanders who ran the 200-man rotation used to guard the Idaho native — and present the most detailed view yet of what Bergdahl’s life over the past five years has been like. These real-time dispatches were generated by the Eclipse Group, a shadowy private firm of former intelligence officers and operatives that has subcontracted with the Defense Department and prominent corporations to deliver granular intelligence on terrorist activities and other security-related topics, often from challenging environments in far-flung corners of the globe.
https://www.foxnews.com/politics/2014/06/06/exclusive-bergdahl-declared-jihad-secret-documents-show/
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Bergen County freeholders introduce 2014 budget with no tax hike
Bergen County freeholders introduce 2014 budget with no tax hike
JUNE 4, 2014, 9:34 PM LAST UPDATED: WEDNESDAY, JUNE 4, 2014, 9:42 PM
BY JOHN C. ENSSLIN
STAFF WRITER
THE RECORD
The Bergen County freeholders on Wednesday introduced a $507.6 million county budget for 2014 that will result in no property tax increase.
The freeholders cut $6.8 million in spending from the budget proposed by County Executive Kathleen Donovan, a proposal that would have called for a 1.9-percent tax hike.
Donovan’s budget would have increased annual taxes by $6.49 on the owner of the average home, assessed at $324,200. That led to some partisan comments from Democratic freeholders, who criticized the budget presented by Donovan, a Republican who is running for reelection.
“If this were up to the county executive, your taxes would have gone up,” said Democratic Freeholder James Tedesco, who is running against Donovan this year.
But Jeanne Baratta, Donovan’s chief of staff, criticized the freeholder budget as “smoke and mirrors” for an election year in which control of both the Freeholder Board and the county’s executive’s office is at stake. She predicted the budget would result in the county running short of funds by the time the election is over.
“They’re playing a shell game with the taxpayer’s money,” Baratta said after the meeting.
However, Republican Freeholder John Felice said he was proud to vote for the budget, calling it an example of bipartisan collaboration. In particular, he cited the freeholders’ decision to tap into trust funds maintained by different departments to cut the budget.
“It’s the people’s money, not our money,” Felice said.
The board used about $1.7 million in trust funds to offset an increase to the county’s contribution to Bergen Community College of $1.8 million.
A public hearing on the budget and a vote of adoption has been scheduled for July 9.
– See more at: https://www.northjersey.com/news/bergen-county-freeholders-introduce-2014-budget-with-no-tax-hike-1.1029019#sthash.zErNo9de.dpuf
So Who is Jeff Bell
So Who is Jeff Bell
Jeff Bell has worked at the highest levels of American politics and public policy for over forty years. In 1978, at age 34, he became the New Jersey Republican Party nominee for U.S. Senate when he defeated four-term incumbent Clifford Case. As the first major candidate to win on the theme of tax cuts, he produced television ads for Ronald Reagan’s 1980 presidential campaign using the same message. He later worked as an advocate for the bipartisan Tax Reform Act of 1986 with Jack Kemp and Bill Bradley, the man who defeated him in the 1978 general election.
A graduate of Columbia University, Jeff went on to serve in the U.S. Army in Vietnam, where he was an intelligence advisor to the South Vietnamese infantry during the Tet offensive. Upon returning home, he joined the national presidential campaign staff of Richard Nixon in 1968 and later went to work for Ronald Reagan in 1974. He developed Governor Reagan’s first proposals for federal tax and spending reduction when Reagan ran for president in 1976. During the 1980 campaign, Jeff was elected from New Jersey as a Reagan delegate to the Republican national convention.
From 1988-2000, Jeff served as president of Lehrman Bell Mueller Cannon Inc., an economic forecasting and consulting firm. From 2000-2010, he was a principal of Capital City Partners, where he worked on promoting comprehensive immigration reform, the Bush Administration’s faith-based initiatives, and combating human trafficking, among other issues. In 2009, he was among the co-founders of the American Principles Project, a public policy organization dedicated to advancing conservative ideas derived from the principles of the American founding. As Policy Director, he headed its monetary reform initiative aimed at renewing sound money by restoring the dollar’s value in gold. He resigned from that position in February 2014 to run for U.S. Senate.
Jeff is the author of two books, The Case for Polarized Politics: Why America Needs Social Conservatism (2012), for which he was interviewed by the Wall Street Journal and Rush Limbaugh, and Populism and Elitism: Politics in the Age of Equality (1992). His articles have been published in the Wall Street Journal, the New York Times, Weekly Standard, National Review, and various other outlets. He has served as a fellow at Harvard’s Kennedy Institute of Politics, visiting professor at the Eagleton Institute at Rutgers University, the DeWitt Wallace Fellow in Communications at the American Enterprise Institute, and as a board member of the American Conservative Union and Campaign Finance Institute. From 1978 to 1980, he served as the president of the Manhattan Institute.
Jeff and his wife Rosalie have been married since 1983 and have three sons and one daughter ranging in ages from 19 to 28 as well as a one-year-old granddaughter.
Tesla recharged: Assembly panel to take up bill to allow sales in NJ stores
Tesla recharged: Assembly panel to take up bill to allow sales in NJ stores
TRENTON — A bill to allow Tesla to once again sell its electric cars from New Jersey stores is scheduled for a hearing today.
The Assembly Consumer Affairs Committee this morning plans to vote on the measure (A3216) that would allow manufacturers of zero-emission vehicles – like Tesla – to sell them at up to four stores in New Jersey.
Under the bill, Tesla – or any other company that goes into the business – would have to open up at least one service center in the state as well.
Tesla has two locations in New Jersey, in Paramus and Short Hills, but it was forced to stop selling cars directly from them in April when the Motor Vehicles Commission — made up of cabinet officials of Gov. Chris Christie’s administration and appointees — passed a rule requiring car companies sell cars through dealers, which is contrary to Tesla’s sales model.
Tesla appealed the rule change.
Christie defended the decision, saying the commission was merely following state law by requiring Tesla to go through dealers, and that it’s up to the Legislature to change it.
Jim Appleton, president of the New Jersey Coalition of Automotive Retailers, said he plans to have a statement on the bill tomorrow but that his group has yet to take a stance on it.
New Jersey customers who want to buy a car from Tesla can still purchase it online on in other states’ showrooms. (Friedman/Star-Ledger)
The American Dream is out of reach
The American Dream is out of reach
By Tami Luhby
NEW YORK (CNNMoney)
The American Dream is impossible to achieve in this country.
So say nearly 6 in 10 people who responded to CNNMoney’s American Dream Poll, conducted by ORC International. They feel the dream — however they define it — is out of reach.
Young adults, age 18 to 34, are most likely to feel the dream is unattainable, with 63% saying it’s impossible. This age group has suffered in the wake of the Great Recession, finding it hard to get good jobs.
Younger Americans are a cause of great concern. Many respondents said they are worried about the next generation’s ability to prosper.
Some 63% of all Americans said most children in the U.S. won’t be better off than their parents. This dour view comes despite most respondents, 54%, feeling they are better off than their own parents.
The downbeat mood is not surprising, say economic mobility experts.
“The pessimism is reflective of the financial realities a lot of families are facing,” said Erin Currier, the director of the Economic Mobility Project at Pew Charitable Trusts. “They are treading water, but their income is not translating into solid financial security.”
https://money.cnn.com/2014/06/04/news/economy/american-dream/index.html
Gold Star mom: ‘This guy was worth my son’s life?’
Gold Star mom: ‘This guy was worth my son’s life?’
Sondra Andrews’ son, 2nd Lt. Darryn Andrews, is one of six soldiers killed reportedly while searching for Sgt. Bowe Bergdahl.
The sergeant’s return to captivity has stirred “very raw emotions.”
“It gets really hurtful when I think, this guy was worth my son’s life? My son who was patriotic? Who was a true soldier? Who defended his country with his life?” Andrews told Army Times via phone on Monday. “That guy was worth that? I don’t think so.”
Sondra Andrews said she’s “very angry” that the military didn’t contact the family before announcing Bergdahl’s recovery.
“They didn’t have enough respect for us to give us the consideration of letting us know, especially since Darryn was part of that mission,” she said. “As a mother, you’re like, ‘what else have they not told us?’ “
Within hours of Bergdahl’s disappearance, her son and his soldiers went out on foot patrols to search for him, Sondra Andrews said.
“They found his gear. They knew [he’d left],” she said. “You don’t get captured and leave your gear in neat little stacks. They knew he had walked away from his post.”
Rest of the article here:
https://www.militarytimes.com/
Bridgegate Committee Zeroes In On Port Authority Mismanagement
Port Authority Commissioner William “Pat” Schuber
Bridgegate Committee Zeroes In On Port Authority Mismanagement
Republican legislators who have been urging the Select Committee on Investigation to broaden its focus beyond the George Washington Bridge lane closures got their wish yesterday, as Democrats and Republicans alike grilled Port Authority Commissioner William “Pat” Schuber on how such an array of scandals could have beset the bistate agency.
Assemblyman John Wisniewski (D-Middlesex), the committee’s cochair, led Democrats in questioning the behind-the-scenes machinations of Port Authority staffers in orchestrating the massive 2011 toll hike, as well as the failure of Schuber and other Port Authority higher-ups to dig into the reasons for the lane closures as the Bridgegate scandal unfolded between September and January.
Meanwhile, Assemblywoman Amy Handlin (R-Monmouth) led Republicans in zeroing in on the Port Authority’s questionable payments to an architect for unsolicited work, excessive real estate holdings in Jersey City, conflict of interest policies, failure to adequately pursue reports of ethics violations, and the wisdom of doling out special grants to municipalities instead of using whatever money is available for needed airport and infrastructure repairs.
It marked the first time since the formation of the committee more than four months ago that the panel’s four Republican legislators devoted their energies not to defending the Christie administration’s response to Bridgegate and questioning the purpose of the committee, but to aggressively going after Port Authority mismanagement — which they have been arguing should be the panel’s primary focus. (Magyar/NJSpotlight)
Where is the vision for the current leadership of our community?
Our future as an inclusive community
Where is the vision for the current leadership of our community?
JUNE 2, 2014 LAST UPDATED: MONDAY, JUNE 2, 2014, 5:38 PM
Letter: Our future as an inclusive community
Martin Walker
To the editor:
Congratulations to the winning candidates of our recent council election. We are extremely fortunate to have had three such talented and committed villagers running, but I am dismayed that not one of them articulated a vision of Ridgewood’s future as an inclusive family community, one that includes and fosters all generations.
Susan Knudsen and Michael Sedon rightfully insisted that village planning must shift from ad hoc responses to individual developer’s proposals, but our village politics as a whole seems stuck in the “tail(s) wagging the dog” syndrome. Some folks don’t like taller poles, our council must respond. Other folks don’t like construction, our council must respond. Others don’t want trees cut down, our council must respond. Still others don’t want public land fully public, but instead devoted to their kid’s favorite sport … ditto.
Now we read that one Planning Board member objects to a Walnut Street downtown location for assisted living because of “traffic.” Earlier objections reported have been “height.”
When will Ridgewood ever progress beyond the “not this, not that” level of leadership in community development? At what point can we break away from Washington, DC’s politic gridlock mentality by fully acknowledging that “NO” is not a plan?
Leadership requires elaborating on and then acting on choices. The greatest level of authority in community leadership accrues to those whose vision encompasses the widest sectors of a community projected the farthest into the future. Leadership for property value enhancement via educational excellence only looks as far into the future as the high school graduation dates of our current school population.
Leadership for family-oriented community includes allowances for the possibility that babies being born into our community could live out their lives and also die here. I see no plan addressing whether or not our children should have the ability to live here at all. I see no plan addressing whether or not our Ridgewood community should even include grandparents. No plan addressing whether Ridgewood should be a place to retire to versus retiring from.
– See more at: https://www.northjersey.com/opinion/opinion-letters-to-the-editor/letter-our-future-as-an-inclusive-community-1.1027823#sthash.8zWkLHY0.dpuf
Anger explodes over treatment of Bergdahl’s release as veterans, troops call him a deserter
Anger explodes over treatment of Bergdahl’s release as veterans, troops call him a deserter
BY HANNAH ALLAM AND JONATHAN S. LANDAY
McClatchy Washington BureauJune 2, 2014
WASHINGTON — For all the yellow ribbons strewn across his hometown in Idaho and the gratitude expressed by his parents in an emotional visit to the White House on Saturday, it’s looking increasingly unlikely that Army Sgt. Bowe Bergdahl will receive a hero’s welcome when he returns to the United States after nearly five years in Taliban captivity.
From military forums across the country, a groundswell of anger is rising over the Obama administration’s silence on perhaps the most controversial question surrounding the deal that freed Bergdahl in exchange for five senior Taliban members: Was he a deserter?
So far, the U.S. government has shied away from the long-nagging question, which raged anew Monday with growing clamor on the Internet about the circumstances of Bergdahl’s disappearance from his unit’s small forward position in Afghanistan on June 30, 2009.
Military-related blogs, Twitter accounts and Facebook pages were filled with screeds from commenters accusing Bergdahl of being a “traitor” or a Taliban “collaborator.” The online publication The Daily Beast published a nearly 2,000-word first-person account by a former Army infantry officer who said he was privy to details of Bergdahl’s disappearance and who stated flatly that “he was a deserter, and soldiers from his own unit died trying to track him down.”
Read more here: https://www.mcclatchydc.com/2014/06/02/229148/anger-explodes-over-treatment.html#storylink=cpy
The 2014 Great American Backyard Campout will take place on Saturday, June 28!
The 2014 Great American Backyard Campout will take place on Saturday, June 28!
This year, we’ve set a goal of getting more than 200,000 people across the country to camp out. AND, just in time for the 10th anniversary of the Great American Backyard Campout, National Wildlife Federation’s Board of Directors and other friends have offered to donate $2 in support of NWF’s wildlife conservation work for every person that participates in this year’s Campout— up to $400,000!
On June 28, 2014, thousands of people across the nation will gather in their backyards, neighborhoods, communities and parks to take part in an annual event that provides a fun-filled evening for all generations to get outside and connect with nature.
National Wildlife Federation’s Goal: Get Kids Outside!
Great American Backyard Campout® is a part of National Wildlife Federation’s efforts to help inspire Americans to protect wildlife, including a three-year campaign to get 10 million kids to spend regular outdoor time in nature.
The National Wildlife Federation is America’s largest conservation organization and we work with more than 4 million members, partners and supporters in communities across the country to protect wildlife and reconnect people with nature. Today, NWF continues to be the nation’s leading advocate for wildlife and wild places.
Since 2005, thousands of people from across the nation have come together the fourth Saturday of June to participate in the Great American Backyard Campout in support of Great Outdoors Month. This annual nationwide event is designed to promote the benefits of camping as a way to connect people with nature and support NWF’s efforts to get kids outdoors.
https://www.nwf.org/Great-American-Backyard-Campout.aspx
Jeffrey Toobin: Obama ‘Clearly Broke the Law’ on Bergdahl
Jeffrey Toobin: Obama ‘Clearly Broke the Law’ on Bergdahl
by Noah Rothman | 5:50 pm, June 2nd, 2014
CNN legal analyst Jeffrey Toobin declared on Monday that President Barack Obama “broke the law” when his administration failed to give Congress notice of at least 30 days before releasing five ranking Taliban members from Guantanamo Bay. Toobin said that a presidential signing statement did not absolve Obama from culpability for failing to abide by the law mandating congressional notification.
“I think he clearly broke the law,” Toobin said. “The law says 30-days’ notice. He didn’t give 30-days’ notice.” Toobin added that Obama’s opinion expressed in a signing statement “is not law.”
“The law is on the books, and he didn’t follow it,” Toobin added.
CNN anchor Wolf Blitzer noted that former President George W. Bush also issued signing statements even though they thought their action may not have been constitutional or legal. “But liberals were outraged by George W. Bush’s signing statements,” Toobin noted.
“You realize, of course, you’re accusing the President of the United States of breaking the law” Blitzer observed.
https://www.mediaite.com/tv/jeffrey-toobin-obama-clearly-broke-the-law-on-bergdahl/
N.S.A. Collecting Millions of Faces From Web Images
N.S.A. Collecting Millions of Faces From Web Images
By JAMES RISEN and LAURA POITRASMAY 31, 2014
The National Security Agency is harvesting huge numbers of images of people from communications that it intercepts through its global surveillance operations for use in sophisticated facial recognition programs, according to top-secret documents.
The spy agency’s reliance on facial recognition technology has grown significantly over the last four years as the agency has turned to new software to exploit the flood of images included in emails, text messages, social media, videoconferences and other communications, the N.S.A. documents reveal. Agency officials believe that technological advances could revolutionize the way that the N.S.A. finds intelligence targets around the world, the documents show. The agency’s ambitions for this highly sensitive ability and the scale of its effort have not previously been disclosed.
The agency intercepts “millions of images per day” — including about 55,000 “facial recognition quality images” — which translate into “tremendous untapped potential,” according to 2011 documents obtained from the former agency contractor Edward J. Snowden. While once focused on written and oral communications, the N.S.A. now considers facial images, fingerprints and other identifiers just as important to its mission of tracking suspected terrorists and other intelligence targets, the documents show.
https://www.nytimes.com/2014/06/01/us/nsa-collecting-millions-of-faces-from-web-images.html?_r=0
N.J.’s pension crisis growing deeper
N.J.’s pension crisis growing deeper
JUNE 1, 2014, 10:52 PM LAST UPDATED: SUNDAY, JUNE 1, 2014, 10:54 PM
BY JOHN REITMEYER
STATE HO– USE BUREAU
THE RECORD
Governor Christie is following the well-worn path of New Jersey governors who skipped or barely made payments to the pension fund and used the money instead to balance the yearly budget.
But Christie’s decision to skip the full payments now will have a much bigger impact on the underfunded pension system than the same move by previous governors, according to a an analysis by The Record of pension data compiled by both the Christie administration and the Legislature.
That’s because each time a full payment isn’t made, the difference between what governors need to pay to keep the pension system afloat and what they end up paying gets bigger, and by a compounding rate, the analysis showed.
For example, the $1 billion pension contribution Gov. Jon Corzine made in 2007 accounted for roughly 60 percent of the amount actuaries said the state needed to pay that year to keep the pension fund solvent.
– See more at: https://www.northjersey.com/news/n-j-s-pension-crisis-growing-deeper-1.1027240#sthash.16Kl2960.dpuf
Piling On: More New Research Shows No Link Between “Polar Vortex” and Global Warming
Piling On: More New Research Shows No Link Between “Polar Vortex” and Global Warming
MAY 29, 2014 1:27PM
By PAUL C. “CHIP” KNAPPENBERGER and PATRICK J. MICHAELS
Global Science Report is a feature from the Center for the Study of Science, where we highlight one or two important new items in the scientific literature or the popular media. For broader and more technical perspectives, consult our monthly “Current Wisdom.”
This is getting embarrassing.
Another scientific paper has just been published that again finds no association between Arctic sea ice loss and extreme cold and wintery conditions across the U.S.—White House Science Advisor John Holdren’s favorite mechanism for tying last winter’s persistent “polar vortex” over the eastern US to anthropogenic global warming (AGW).
We wonder just what it will take for the White House to publicly admit that it was grossly wrong. At the very least, it needs to disavow a widely-disseminated YouTube video featuring Holdren explaining the link between last winter’s polar vortex and human-caused climate change. There is no such link. Of course, this won’t happen, as Holdren was simply engaging in a publicity stunt relying on tenuous science to scare up support for President Obama’s Climate Action Plan. The President is hell-bent on an endless string of executive actions aimed at manipulating the energy market and reducing our energy choices along the way.
As we reported when the video was first released last January, the science linking human-caused climate change to the southward excursions of the polar vortex was a stretch to begin with. It was then dealt a major blow by a study led by Colorado State climate researcher Elizabeth Barnes that was coincidentally published a few days after Holdren’s YouTube video. Barnes’s found that natural variability dominates the observed record, making it impossible to detect any human-caused global warming signal even if one were to exist in the vortex data (which there is no proof of). Shortly after that, a collection of very prominent climate scientists specializing in research into atmospheric circulation patterns wrote a letter to a prominent journal stating that drawing the type of connection that Holdren did was not scientifically advisable
Spurred by all of this, the Competitive Enterprise Institute (CEI) sent apetition to the White House Office of Science & Technology Policy (OSTP) to force Holdren issue a correction under the terms of the Data Quality Act. According to CEI, “OSTP guidelines require the agency to correct any published information that does not meet ‘basic standards of quality, including objectivity, utility, and integrity.’”
Holdren and the White House have been unmoved.
Now comes this: a brand new study, led by Thomas Ballinger of Kent State University, which directly examined the size and magnitude of the 2014 “polar vortex” event and found it to be not particularly unusual. Yes, it was a significant event ushering a lot of really cold air southward over the eastern 2/3rds of the U.S. and bringing with it all sorts of winter misery, but it wasn’t historically unusual. In fact, Ballinger’s team, found, in examining polar vortex behavior across North America since 1948, that the 2014 polar vortex excursion into the lower 48 ranked 6th in southerly extent and 7th in total area. The authors concluded that their analysis “revealed that the spatial features of the January 2014 [polar vortex over the U.S.] were not extreme relative to certain 1948-2013 Januaries.”
Ballinger and colleagues took their analysis one step further and examined the historical record to see if they could find a link between the loss of Arctic sea ice and an increase in polar vortex excursions into the U.S.—Holdren’s favored explanation for tying human actions into their own winter suffering. Here is what they wrote:
While this [polar vortex] study solely examines January, a regional domain, and uses different data to quantify atmospheric circulation, the results presented here are not congruent with the large-scale flow changes suggested in those latter papers [linking Arctic sea ice loss to polar vortex behavior].
Sorry, John.
So with a large and growing body of scientists and scientific evidence aligning against Holdren’s explanation of things, it is high time for a recognition of this by the White House. But since they are no doubt too focused on pushing their new carbon dioxide emissions regulations to find the time to insure that their justification for the regulations are based in fact, we thought we’d help them out and draft a public announcement for them. Here is what we have come up with:
From the White House:
We’d like to take this opportunity to correct something that we put forward regarding human-caused climate change and the polar vortex from this past winter. In actuality, and as a collection of new science has shown, that linkage is much more tenuous that we stated, if it even exists at all.
Our purpose for releasing that video and associated press material was to take advantage of an extreme weather event that was inconveniencing a large number of Americans. We wanted to use the opportunity to try to scare you into supporting our executive actions aimed at restricting carbon dioxide emissions in an effort to mitigate future climate change. Admittedly, the science is much weaker than federal pronouncements like these make it out to be. But if we were forthcoming with all the data and the complete story that it told, there would be even less support for the Climate Action Plan than currently exists. And since we’re coming clean about things, we’ll go ahead and admit that we realize the regulations forwarded under the Climate Action Plan, most notably the soon-to-be-announced sweeping carbon dioxide emissions restrictions on existing power plants, will have no measureable impact on the very thing that they aim to achieve—mitigating climate change—unless, by eliminating coal-fired electricity generation, there is a technological miracle that no one can anticipate or forecast. While waiting, you’ll just have to live with more expensive electricity.
We really aren’t very concerned about this because one of the confident predictions from government scientists is that winters should warm preferentially to summers. So you won’t need as much electricity to heat your house. If we were right about the polar vortex and very cold temperatures in the East, that would be too bad, but we were wrong.
So, next time you hear a federal pronouncement about climate change and extreme weather (likely coming sometime this summer when it gets hot), note that we are largely making it up and that the larger body of science, economics, and statistics, generally doesn’t support our wild assertions.
We’ll let you know when our phone rings.
References:
Ballinger, T., M.J. Allen, and R.V. Rohli, 2014. Spatiotemporal analysis of the January Northern Hemisphere circumpolar vortex over the contiguous United States. Geophysical Research Letters,doi:10.1002/2014GL060285.
Barnes, E., et al., 2014. Exploring recent trends in Northern Hemisphere blocking. Geophysical Research Letters, doi:10.1002/2013GL058745.
GDP Report Confirms We Now Have a $2 Trillion Obama Growth Deficit
GDP Report Confirms We Now Have a $2 Trillion Obama Growth Deficit
Stephen Moore
May 29, 2014 at 1:15 pm
This morning’s depressing revised calculation of the growth of the economy in the first quarter of 2014 (-1.0 percent) makes it official: The Obama expansion is now $2 trillion short of where we would be if growth in this recovery had matched the Reagan recovery that started in 1982.
That is to say the average family would have about $5,000 more income each year to spend if it were not for this slow recovery. The Census Bureau reports that median household income is down by $1,800 since this so-called recovery began
Worse, investment plummeted in the first quarter of 2014 by 11.7 percent from the same period in 2013. That was the biggest decline since the recession ended in 2009. Without investment, businesses can’t grow and wages won’t rise. Capital investment by businesses is a strong leading indicator of future prosperity.
The administration was quick to blame the dismal numbers on the cold winter and blizzard conditions in the Midwest and Northeast. But he 2013 growth rate was 1.9 percent, and the rate has been less than 2 percent for more than a year. Under Reagan, the growth rate during the expansion was more than 4 percent.
There are strong signs the economy picked up steam starting in April, but the overall picture of a failed recovery plan is now unmistakable. We spent $830 billion on a stimulus stuffed with make-work government-jobs programs and programs to pay people to buy new cars, borrowed $6 trillion, launched a government-run health-care system that incentivizes businesses not to hire more workers, raised tax rates on the businesses that hire workers and the investors that finance businesses that hire workers, printed $3 trillion of paper money, shut down an entire industry (coal), and tried to regulate and restrain the one industry that actually is booming (oil and gas).
Is it really a surprise the government is underperforming and this is the worst recovery from recession in 75 years.Ideas do have consequences – especially bad ones.
What good that has come from Obamanomics? Hopefully, we all have relearned a painful lesson that government spending, congressional taxing, Treasury borrowing and Fed printing don’t stimulate the economy. The new GDP report reminds us these battle-tested economic strategies don’t work. For tens of millions of Americans, unfortunately, this is a lesson learned the hard way.
— Stephen Moore is chief economist at the Heritage Foundation and co-author of the New York Times bestseller An Inquiry into the Nature and Causes of the Wealth of States.
https://blog.heritage.org/2014/05/29/gdp-report-confirms-now-2-trillion-obama-growth-deficit/?utm_source=facebook&utm_medium=social















