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Tonight's Crazy Story:
Iowa Man With Zebra, Parrot Arrested for DUI In Bar Lot
From USA Today: "So, this man with a zebra and parrot walks out of a bar -- No, it's not the set-up for a joke, but an intoxicatingly true story out of Dubuque, Iowa, according to news reports from the Hawkeye State."
Topic One: A Model of Austerity
The renewal of Vallejo, California, could serve as a model for austerity: "The first couple of years were ugly. After this working-class port city became the largest in America to declare bankruptcy in 2008, crime and prostitution surged as the police force was thinned by 40 percent. Firehouses were shuttered, and funding for libraries and senior centers was slashed. Foreclosures multiplied and home prices plummeted."
"But then this city of 116,000 began to reinvent itself. It started using technology to fill personnel gaps, rallying residents to volunteer to provide public services and offering local voters the chance to decide how money would be spent — in return for an increase in the sales tax. For the first time in five years, the city expects to have enough money to do such things as fill potholes, clear weeds, trim trees and repair tennis courts."
"The nation's cities are weak links in the U.S. economy and, if they collapse in large numbers, it could knock the country's recovery off course. Cuts at the federal level are being pushed down to the states, which in turn are passing the problems to their cities."
"The strains are especially great in California, which was at the epicenter of the housing market meltdown and the deep recession that followed. Even before revenue slowed, the state was facing unique constraints on public finances because its laws make it difficult to raise taxes."
Time for a Laugh:
"It's been a rough week for Facebook and Mark Zuckerberg. Zuckerberg has lost so much money in the market that President Obama is going to have him replace Ben Bernanke."
-Jay Leno
Topic Two: Another ObamaCare Debacle
Bob Beauprez analyzes another ObamaCare estimate that was way off: "The Affordable Care Act – aka: ObamaCare – contained an "incentive" for Small Business Owners who did not provide health care insurance for their employees to add the benefit. Like much of the rest of the legislation that the Democrats just had to pass so we could find out what was in it, that provision appears to be yet another bust."
"With their rose-colored glasses on the Obama Administration projected that 4 million small business owners would take the bait and start providing health care insurance benefits for their workers. The government run Small Business Administration's estimate was a tad more conservative suggesting that 2.6 million businesses would get in the game."
"According to Internal Revenue Service records, however, a mere 170,300 small businesses signed up in all of 2010 according to Investor's Business Daily – just barely 4% of the White House's estimate."
"The General Accounting Office auditors, GAO, reviewed the paltry performance and succinctly determined the incentive was far too small and the compliance regulations far too complex for the vast majority of small businesses to deal with. "Small-business owners generally do not want to spend the time or money to gather the necessary information to calculate the credit, given that the credit will likely be insubstantial," according to the GAO report."
Debt Watch:
$15,712,446,368,243.65
(
As of Thursday, May 24, 2012
)
Change: -$1,851,247,412
Your share as a citizen: $50,249.58
Share per household: $137,543.74
Debt since Obama inauguration: $5,085,569,319,331
Topic Three: Vote Fraud Deniers
Why you cannot win an argument with a vote fraud denier: "Make no mistake, the voter fraud deniers and election integrity opponents aren’t interested in compromise. They seek only victory. Victory means stopping every single proposal that involves ensuring lawful elections. No amount of compromise will ever satisfy them. They will still resort to attacks against proponents of election integrity who just finished compromising with them."
"I heard that the governor feared an NAACP rally against him on the steps of the statehouse. These days, given how far the NAACP has fallen, Republicans couldn’t ask for better press. Nearly eighty percent of Americans agree with voter ID and election integrity. It’s time the GOP start enthusiastically riding that tailwind."
"The next question is whether Virginia will now repeat the mistakes of Texas and South Carolina and offer up a sacrifice to Eric Holder’s DOJ instead of going straight to federal court for approval under the Voting Rights Act. Will Virginia Republicans underestimate their enemies and assume that no rational person would be against the Virginia law? Will Virginia Republicans underestimate the potential for mischief and lawlessless of the United States Department of Justice? Stay tuned."
Tweet of the Day:
Paul Combs (@PAC43):
"Like so many people, in so many countries, who started out to "spread the wealth," Barack Obama has ended up spreading poverty."
Topic Four: All-You-Can-Eat Economics
Adam Ozimek explains the similarities between all-you-can-eat buffets and health insurance: "What do health insurance and all-you-can-eat buffets have in common? The economic theory of adverse selection tells us that neither should exist."
"When someone offers all-you-can-eat to any customers, those that show up should be ones for whom the amount that they can eat is worth more than the price they expect to pay. After all, if the buffet costs $10 no matter how much you eat then those who eat the most will get the most value out of it. But the average amount consumed can’t exceed the price, otherwise the restaurant will lose money and go out of business. So if the average amount consumed is $16 worth of food, then the restaurant will have to raise the price to above $16. But this means those who more than $10 but less than $16 worth of food will no longer find it worthwhile to eat there, so they will stop going, and the average customer left will be those who eat more than $16 worth."
"This process continues, until there is only one guy left going to the buffet, and he eats $300 worth of fish and is charged exactly $300 for it. In effect, this theory says that all-you-can-eat buffets should not exist. And yet they do, and for the most part the adverse selection problem does not cause problems. Except, it seems, for Bill Witsh."
Food for Thought - A Quote from our Founders
"A militia, when properly formed, are in fact the people themselves ... and include all men capable of bearing arms."
-Richard Henry Lee
Topic Five: Sink the LOST Treaty
Ed Feulner explains why the LOST treaty is not good for America: "According to its advocates, we need LOST for a variety of reasons. One of them concerns the oil and gas resources located in the outer limits of our continental shelf. The treaty’s proponents say we can obtain legal title to it only by signing on to the treaty."
"If the United States does not ratify this treaty, our ability to claim the vast extended Continental Shelf off Alaska will be seriously impeded,” Sen. Richard Lugar (R-Ind.) has said. Without LOST, we’re told, we won’t be able to develop the hydrocarbon resources beneath the Extended Continental Shelf in areas such as the Gulf of Mexico and the Arctic Ocean."
"Sounds pretty dire -- and, at a time of fluctuating prices for gasoline and other forms of energy, alarming. Fortunately, it isn’t true."
"Under international law and long-standing U.S. policy, we already have access to these areas. Presidents dating back to Harry Truman have issued proclamations -- and Congress has passed laws -- establishing America’s maritime laws and boundaries. And no one has challenged them."
Tomorrow in History
May 26, 1896
-
Charles Dow publishes the Dow Jones Industrial Average for the first time.
Grab Bag - Interesting and Important Stories to Conclude Your Evening:
Senate Dems approve higher fees for your pre-flight groping
Obamish: the new language
Muslim Brotherhood leads Egyptian Presidential vote
Four problems with the Energy subsidy push
Fordo site has higher nuclear traces
An Obama college document finally surfaces
National Dems leaving Wisconsin recall
5 ways public schools prepare us for prison life
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