AWESOME Editorial from CNBC's Larry Kudlow

Obama Declares War on Investors, Entrepreneurs, Businesses, And More
Friday, 27 Feb 2009 4:39 PM ET

Let me be very clear on the economics of President Obama’s State of the Union speech and his budget. He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.

That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.

Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.
This is nearly double the government-spending low-point reached during the late 1990s by the Gingrich Congress and the Clinton administration. While not quite as high as spending levels in Western Europe, we regrettably will be gaining on this statist-planning approach.
Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.
And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge across-the-board tax increase on blue-collar workers, including unionized workers. Industrial production is plunging, but new carbon taxes will prevent production from ever recovering. While the country wants more fuel and power, cap-and-trade will deliver less.
The tax hikes will generate lower growth and fewer revenues. Yes, the economy will recover. But Obama’s rosy scenario of 4 percent recovery growth in the out years of his budget is not likely to occur. The combination of easy money from the Fed and below-potential economic growth is a prescription for stagflation. That’s one of the messages of the falling stock market.
Essentially, the Obama economic policies represent a major Democratic party relapse into Great Society social spending and taxing. It is a return to the LBJ/Nixon era, and a move away from the Reagan/Clinton period. House Republicans, fortunately, are 90 days sober, as they are putting up a valiant fight to stop the big-government onslaught and move the GOP back to first principles.

Noteworthy up here on Wall Street, a great many Obama supporters — especially hedge-fund types who voted for “change” — are becoming disillusioned with the performances of Obama and Treasury man Geithner.
There is a growing sense of buyer’s remorse.
Well then, do conservatives dare say: We told you so?
© 2009 CNBC, Inc. All Rights Reserved

The Parable of My Cousin’s Meth Lab

Minus the entertaining sales pitch, wagon, and tangible product, Nancy Pelosi and Harry Reid are the modern-day equivalent of traveling snake oil salesmen. After all, the stimulus package is a panacea that, while at a bargain price, is unlikely to fix the economy or, at the very least, clear up your Herpes in time for Spring Break.

It’s been on my mind quite a bit (the stimulus package, not your Herpes) and I realized it’s just like my cousin’s crystal meth lab.

We have some winners in the family, but when we lose, we lose big time. That would be the case of my cousin Mike. (It is generally agreed I lie somewhere between total crap and mediocre.)

Mike the mental giant and his brother-in-law borrowed my grandfather’s RV to go fishing at the lake. My 80-something-year old grandfather found it odd they didn’t take any fishing gear. Ignorance is bliss and as long as they brought it back with a full tank, he didn’t care.

These budding entrepreneurs had been supplying the county with enough meth to fuel a decade’s worth of Richard Simmons “Sweatin’ to the Oldies” marathons….allegedly, of course.

Their recipe for meth included minor explosions and setting the RV on fire. For fear of adding another page to his police wrap, Mike fled the RV before the police showed, leaving his injured brother-in-law to die (makes for awkward family gatherings). When the fuzz arrived, they found the RV in flames and the evidence “all burned up,” as we say in the hood.

At the end of the day, grandfather was out an expensive RV, no one could prove or disprove a darn thing, and my cousin got away scot free.

I’m anticipating the Left will declare the “success” of the stimulus package as loudly as my cousin declared his innocence. I just hope America realizes there’s no fishing gear before the mid-term elections.

Obama Leaves Press Conference Note in Ahmadinejad's Locker

Ahmadinejad,

OMG! My press conference was so awesome. Didn’t I look ripped?

Anyway, sooo stoked to talk to you about dumping those freaky terrorist guys and totally coming to hang with me and Michelle. We’ll party like it’s 1979. Joe B. is so NOT invited.

I know you were just joking when you said, “Israel must be wiped off the map.” I mean who would actually say stuff like that? I know you were just getting psyched for the big game and talking some $^&*. Besides, we both know Jewish chicks are great kissers…at least that is what Bill Clinton told me. LOL

Total bummer that your nuclear bomb science fair experiment didn’t work. I’m sure I can drag this diplomacy thing out long enough for you to crack the code and blow up the teachers’ lounge. Dude, you are so lucky I won the election.

I know you need the terrorists to stay captain of the Islamic extremists branch of the Hair Club for Men, but if you don’t chill out you are going to make me look seriously uncool in front of my peeps. I may be president, but prom king elections are just a few months away…and Hillary may get some sympathy votes.

If you need any cash, just let me know. The American people are feeling unpopular, so when we send the terrorists the note reading “Do you like me? Yes, No, Maybe” tell them to mark maybe. It will get me, I mean you, all the money for your projects.

Give Ali Khamenei a fist bump for me.

LYLAS and BFF,
Obama

PS – Want to go halvsies on the motorcade for prom?

Global Warming Cooling Sex

London Times - Green expert: Limit kids to two

“A UK sustainable development expert says you should think twice about making any more babies –lest you want to see the world a blacker place. The way Jonathon Porritt sees it, anyone with more than two kids is “irresponsible” about the way they’re affecting the environment. The way he sees it, we should be shifting our monies away from curing illnesses and push them toward increasing contraception and abortion.”

So, Whitney Houston had it wrong when she crooned, “I believe that children are our future.” Apparently, kids are a juggernaut of carbon footprints destroying the ozone, Earth, and life as we know it. (Say it like Keith Olbermann)

My carbon footprint is average, and some would say, quite stunning with a fresh pedi and some stiletto Jimmy Choo’s. But even a crack-filled Whitney knows it’s not that simple. And, amazingly, so do I.

My problem is I like my global warming conspiracies fully cooked with legitimate empirical data. As they say you can take the girl out of the debate team, but you can’t take the debate team out of the girl (well, actually you can, and that slut was voted team captain every year).

On global warming, Al Gore and some junk science sprinkled with subconscious misanthropy seem to be enough for our friends on the Left. Don’t get me wrong, I want to be a good environmental steward…or maybe I just wanted to be a stewardess with a sexy green uniform. It was all so clear before the Maker’s Mark, but then, aren’t most things?

Add living in a DC's virtual gas chamber of hope and change to the Maker’s Mark and I’m suffocating on manufactured bipartisanship. So in that spirit, I’m making amends for my parents and ancestors, some of whom had more kids than the Duggers.

That’s right people! I’m offering the next generation green reparations before they can go on Oprah to blame their drug addiction and/or sexual orientation on their parents’ irresponsible environmental practices.

Luckily, the captains of change have provided me with the means. Within his first week in office, President Obama struck down the Bush administration's ban on giving federal money to international groups that perform abortions.

I'm reaching across the isle and the Rio Grande. Using your tax dollars, I will be vacationing in Playa del Carmen, teaching the locals to sort properly their plastics from their glass, and then aborting myself on YouTube...probably with the help of the Mexican version of Planned Parenthood and Al Gore.

PS - Please forward an invitation to Nancy Pelosi.