Monday, August 27, 2012

The Final Five: August 27, 2012

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Tonight's Crazy Story:
Town Set to Open Mysterious Century-Old Package
A small package given by a former mayor to the Norwegian town of Otta was opened this past weekend. With breathless anticipation, the town's officials opened the package to find: some newspapers, financial reports, and a couple letters from the United States. While the items are being analyzed by historians, it certainly was not worthy of the hype that surrounded the opening of the package.

Topic One: The Economy
How Obama hurt the middle class: "Indeed, as a result of Barack Obama’s failure to stem the economic bleeding, the Federal Reserve reported earlier in the summer that the recession erased two decades’ worth of our collective wealth. There have been 42 straight months where the unemployment rate has exceeded 8%. Offering four more years of economic woe is anything but “Forward.” It’s no secret the prolonged recession has most hurt the very people President Obama ostensibly intended to help with his ill-conceived government “investments,” the middle class. The middle class, i.e. those making between $39,000 and $118,000 (according to the Pew Research Center), has borne the brunt of the bad economy. As the above numbers demonstrate, three years after the recession technically ended (August 2009), the recession continues to ravage the middle class."

Balancing the budget is simple: "Now that new numbers have been released by the Congressional Budget Office, it’s time once again for me to show how easy it is to balance the budget with modest spending restraint (though please remember our goal should be smaller government, not fiscal balance). I first did this back in September 2010, and showed that we could balance the budget in 10 years if federal spending was limited so it grew by 2 percent annually. I repeated the exercise in January 2011 after new CBO numbers were released, and re-confirmed that a spending cap of 2 percent would eliminate red ink in just 10 years. In August of that year, following the release of the CBO Update, I showed again that the budget could be balanced by limiting spending so it climbed by 2 percent per year. Most recently, back in January after CBO produced the new Economic and Budget Outlook, I crunched the numbers again and showed how a spending cap of 2 percent would balance the budget."

The bankrupt leading the bankrupt: "The Golden State, which once represented the promise of America, is mired in swampland of broken promises, graft, political stupidity and liberal fantasy. And if California represents the very best government that liberals can give us- and it likely does- then this country had better take a deep breath and step away from progressive math. Because, it just doesn’t add up."

The D.C. Daily: August 27, 2012

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House and Senate

Subject to the provisions of S. Con. Res. 59, both houses of Congress have adjourned until 2:00 PM on Monday, September 10, 2012.

Executive Agencies
(You can view the entire Federal Register here.)

Significant Proposed Rules:
There were no significant proposed rules printed today.
Significant Final Rules:
There were no significant final rules printed today.

Presidential Documents:
There were no Presidential documents printed today.

Supreme Court
The Court has now completed its work for the October 2011 term. The Court will hold the first oral arguments of the October 2012 term on Monday, October 1.

Morning Media: August 27, 2012

Good morning, everyone! Time to take a look at some of yesterday's best media!

Here is Charles Krauthammer discussing Obama's debt:

I have no idea if this is real or photoshopped, but it raises a good point either way:

And finally, whoever created this banner needs to go back to school: