11.24.07

Republicans Rally Around SCHIP Alternative

Posted in Economic at 8:00 pm by

As Democrats stage the ultimate political stunt Thursday with an override vote of President Bush’s SCHIP veto, Republicans are actually planning to do something about saving the children’s health care program.

Sens. Mel Martinez (R-Fla.) and George Voinovich (R-Ohio) will join Reps. Marilyn Musgrave (R-Colo.), Tom Price (R-Ga.), Tom Feeney (R-Fla.) and Tim Walberg (R-Mich.) to introduce an alternative to the Democrats’ $35-billion expansion. The lawmakers plan an afternoon news conference in the Capitol around the time of the veto vote.

Their alternative, based on a proposal crafted by the Heritage Foundation, consists of three elements:

1) A full reauthorization of SCHIP. The program would continue to cover children in families with incomes at or below 200% of the federal poverty level;

2) A child health care tax credit. Rather than putting more people on a government-run program, the legislation advances tax credits to families with incomes between 200% and 300% of the poverty level; and

3) A health care “federalism” initiative. This piece would complement both the reauthorization and the tax changes in expanding health care coverage, and would encourage even more dramatic health care experimentation at the state level with different approaches to coverage expansion.

Democrats, including Speaker Nancy Pelosi, have supported the idea of a tax credit, and others, such as Sen. Jeff Bingaman (D-N.M.) and Rep. Tammy Baldwin (D-Wis.), have offered legislation supporting the “federalism” approach.

Martinez has been working on the plan prior to Bush’s veto. Unfortunately, Democrats have been so intent on politicizing SCHIP that few have considered actually talking to Republicans about about an alternative approach. Now that the Democrats’ intense lobbying appears certain to fail, Republicans hope their approach could sway liberals to come to the table.

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11.23.07

Breaking News: Hastert Is OUT!

Posted in Economic at 10:20 pm by

Roll Call (big bucks subscription fee) reports Hastert will resign, “effective later this year”. The “highlights”…

Former Speaker Dennis Hastert (R-Ill.) is expected to announce Thursday that he is resigning his seat in Congress effective later this year, eventually setting up a special election to succeed him, knowledgeable GOP sources said late Wednesday.

Rumblings have persisted for months that Hastert, who announced this summer that he would not seek re-election in 2008, was unlikely to complete his current term.
[…]
One key issue for Republicans is the timing of a special election, which will be called by Illinois Gov. Rod Blagojevich (D), and whether it might be held in conjunction with the state’s Feb. 5 presidential and Congressional primaries.
[…]
The GOP would be slightly favored to hold the exurban Chicago seat in a regular election, but a special election could be problematic for the GOP because the Democratic Congressional Campaign Committee has far more money than the National Republican Congressional Committee.
[…]
According to state law, Blagojevich has five days from Hastert’s last day in office to schedule the special election, which must take place within 115 days.

Although the law is clear regarding when special elections must be held state law is vague regarding whether a special primary precede it.

Not sure what “later this year” means…but I’m not sure who will attend the pity party.

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On Things I Would Like To See

Posted in Economic at 9:30 pm by

I would very much like to see a debate between Michael Cannon and Paul Krugman on the issue of SCHIP. Cannon has the evidence on his side, after all. And quite frankly, it would be nothing short of wonderful if the entire debate went to the issue of health care in general. For whatever reason, conservatives and libertarians have found themselves shut out of the issue of health care while the rest of the political spectrum–especially the left side of it–has been debating how to bring universal coverage to the masses. It is time for conservatives and libertarians to take the issue back for themselves and Cannon provides as good a method as any to do exactly that.

And by the way, if Krugman is not available, we could always have Cannon go up against Nancy Pelosi. That would be . . . um . . . interesting.

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Paging King Pyrrhus . . . And The Politics Of Hope

Posted in Economic at 8:40 pm by

I am not the type of person who reads too much in a single off-year election. But this certainly strikes me as being interesting. I didn’t follow the race all that closely and it is entirely possible that it became as close as it was simply because Tsongas may have been a lousy candidate and Ogonowski was an exceptionally good one. But I have to think that in a period where everything seems to be going against Republicans, the Democrats should have racked up their usual impressive margins in the district. Instead, they had to put up with an uncomfortably close margin.

Again, I am not going to make too much of this. I will, however, point out that if a week is a long time in politics, the fact that we will wait over a year before the next President and the composition of the next Congress is determined means that nothing about the next election can be taken for granted.

No matter what the polls, the pundits and the conventional wisdom says, elections are decided by voters and voters are influenced by highly unpredictable events. These remarks are made ad nauseam, but that doesn’t make them any less true. And it certainly doesn’t justify throwing in the towel well in advance of the time the votes are actually cast.

Originaly from Source

11.22.07

Talking with Price & Hensarling: SCHIP and AMT

Posted in Economic at 10:10 pm by

Unfortunately, due to a technical difficulty, I can’t bring you the audio, but yesterday I spoke with Congressman Tom Price (R-GA) and Congressman Jeb Hensarling (R-TX) about SCHIP and the AMT.

First, let me say they feel pretty good that the President’s veto is going to be sustained.

Second, let me review their objections. A lot of us, or at least me, have paid attention to the issue, without really knowing all the nuances of it. So, here now, from Congressmen Price and Hensarling, a look at the path toward universal healthcare, incremental Democrat style:

The original bill (a Republican effort) ensured children of the working poor. In other words, it offset or defrayed the costs of healthcare on poor families.

The Democrats, unwilling to keep politics out of the lives of children, decided to move toward universal healthcare. Their bill would ensure children of parents whose household incomes go up to about $62,000.00. Keep in mind that the median household income in this country is $42,000.00.

The bill would start covering adults up to the age of 25 in general.

Likewise, the bill would allow the parents of these kids and adults up to 25 to be covered under SCHIP too. Yeah, you read that right — the State CHILDREN’S Health Insurance Plan would cover adults.

In New York State, the cap would be boosted to upwards of $85,000.00.

States could also expand the cap above the 300% of poverty level.

Both Congressman Price, who is a doctor, and Congressman Hensarling are adamant that this is a bad bill and a better alternative could be offered.

Additionally, the Congressmen discussed the Republican Study Committee’s Alternative Minimum Tax reform proposal. As Congressman Hensarling said, the AMT, which originally only covered a few hundred Americans, now covers hundreds of thousands because the AMT is not indexed for inflation.

The RSC proposal, which unfortunately is not *the* Republican proposal (yet) would restructure the AMT to make sure it stops affecting middle class Americans. Keep your eye out for the proposal and urge your member of Congress to support the RSC plan.

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“I am not your problem.” - Irony Gutshooting Watch, 10/18/2007

Posted in Economic at 9:20 pm by

The email forwarded to Protein Wisdom gets the quotes wrong (which is no reflection on Jeff, btw), so I won’t quote it. But let me tell you the gist, which does agree with the video below:

Representative Diane Watson looked a room of progressive Democrats in its collective eye and lied to them about impeachment without turning a hair. It was a stupid lie, too: the flaws in the logic alone were egregious. It was the kind of lie that you tell small children to make them shut up when they’re whining.

And the progressives sat there and took it like small children, too.

Read on.

Rep. Watson’s argument, such as it was, was this: she claimed that there are 240 to 260 Representatives ready to vote for impeachment right now (look, she’s talking to the antiwar movement; they eat that nonsense up with a spoon), but they need 290 to get the motion off the floor. So, the Speaker of the House’s plan is to help win the White House in 2008, plus get 60 seats in the Senate; then they’ll have the numbers for impeachment and overriding vetoes.

Yes, yes, I know: your head now hurts from the stupid. Imagine mine: I had to watch this clip three times.

There were objections from the crowd. You might think that these objections would take the form of “Why would we want to impeach Bush after he’s out of office?” or “Why do we need 60 votes to override vetoes when we’ll have the Presidency, too?” or “What copy of the Constitution are you using? Mine says that you need 67 votes to overturn vetoes” or even “What does talking about Senate and the White House electoral strategies have to do with a House vote?” I’m not sure why you might think that, given her audience: the general tenor of comments from the peanut gallery were more along the lines of “YARR! BUSH BAD! IMPEACH NOW! TO THE CASTLE!” But it’s OK: they all applauded in the end when Rep Watson endorsed Dennis Kuchinich for President. Ah, how I love the reality-based community.

Well, it’s a reality-based community. And perhaps some day we’ll find out which long-lost reality it is that these weary exiles call home.

Originaly from Source

Communist China and CIFUS: “Dropping the Shark”

Posted in Economic at 8:30 pm by

To resuscitate the TV sitcom Happy Days, the shows main character, Arthur Fonzarelli, was aquatically clad in a swim suit, white tee-shirt, and leather jacket and filmed performing a harrowing water ski jump over a shark. Though The Fonz pulled it off, the network pulled the plug on Happy Days. Subsequently, any inane attempt to prevent a shows cancellation by scripting an absurd scene which only serves to end an audiences willing suspension of disbelief has been colloquially deemed jumping the shark.

But what does one call a situation where a U.S. governmental entity willfully suspends its disbelief communist China is a strategic threat and, ergo, appeases it with the sale of sensitive technologies currently employed in defending our computer systems from cyber warfare and espionage? I suggest we call it dropping the shark.

My friends, this is not a hypothetical homage to Seinfeld scriptwriters.

Read on . . .

The Committee on Foreign Investment in the United States (CFIUS) must review and block Bain Capital and communist Chinas Huawei Technologies acquisition of a significant stake in the 3Com Corporation. If approved, Bain Capital and communist Chinas Huawei Technologies stake in the 3Com Corporation will gravely compromise our free republics national security. The 3Com Corporation is a world leader in intrusion prevention technologies designed to protect secure computer networks from hacker infiltration. To date, the United States Department of Defense (DoD) extensively utilizes 3Com Corporations intrusion prevention technologies. Thus, in the wake of this years successful cyber warfare by the communist Chinese Peoples Liberation Army (PLA), in which they hacked into one of our DoDs and one of the German Foreign Ministrys computer networks, approving this sale would be an abject abnegation of CFIUS duty to protect Americas vital defense technologies from enemy acquisition.

There should be no doubt about the aims of communist Chinas Huawei Technologies. The Pentagon has identified communist China as the culprit in recent cyber attacks on our militarys computer networks, which caused their shut down in June. Small wonder the pending sale to Huawei is deemed “really worrisome” by former Pentagon cyber security expert, Sami Saydjari.

Nor is this the first time communist Chinas Huawei Technologies has raised legitimate American concerns. In Newsweeks Jan. 16, 2006 issue it described Huawei Technologies a little too obsessed with acquiring advanced technology. Further, in Congressional testimony before the House Armed Services Committee on September 19, 2002 University of Wisconsin Law School Professor, Gary Milhollin, Director of the Wisconsin Project on Nuclear Arms Control, explained Huwei Technologies assistance in supplying technological support to our enemies in Iraq. Mihollin stated, The history of Huawei shows how sensitive American exports can wind up threatening our own armed forces So, when we talk about export controls, we are not just talking about money. We are talking about body bags. Even earlier, in 2000, the CIA discovered Huawei Technologies was selling fiber optics equipment to Saddam Hussein to advance Iraqis military technology and communications. This was in direct violation of the United Nations’ international embargo.

Moreover, in 2003, Cisco Systems formally charged Huawei Technologies with grievous intellectual property violations such as infringing on its patents, copying its Inter-Network Operating System (IOS) source codes, and copying its Command Line Interface (CLI) and corresponding screen displays. This is especially disturbing in light of the reports confirming the strong ties between Huawei Technologies, the communist Chinese government and its armed-wing the Peoples Liberation Army. In only two decades Huawei has expanded to over one hundred (100) countries; amassed sales over $8.7 billion; and greatly benefited the communist Chineses alarming military build-up.

To protect Americans security, Congresswoman Ileana Ros-Lehtinen (R-FL), Ranking Member of the House Foreign Affairs Committee, has sponsored House Resolution 730, of which I am an original cosponsor. Her resolution declares the 3Com transaction threatens national security and should not be approved by the Committee on Foreign Investment in the United States.” All of us are fortunate for Representative Ros-Lehtinens courageous leadership on this issue; and hopefully CFIUS will heed her counsel.

If they do not, and CFIUS approves this sale and its accompanying sensitive defense technologies to Huawei, it will place in communist Chinas cyber-hacking hands some of our most sensitive technologies employed for our high-tech defense; and it will be akin to CFIUS dropping the shark in our fish bowl and pulling the plug on Americas happy days.

Originaly from Source

Pakistan ranks 60th at Global Hunger Index

Posted in Economic at 8:00 am by

Pakistan ranks 60th at Global Hunger Index
Staff Reporter

ISLAMABAD: As the world celebrates annual World Food Day on October 16 with a vow to ensure the availability of food for all, Pakistan is ranked at 60th (GHI-P score 0.219) followed by Bangladesh 42nd (GHI-P score 0.444) and India 33rd. (GHI-P score 0.496).

According to the Global Hunger Index Progress Indicator (GHI-P), it is said that like other countries of Saarc region such as Bangladesh, India and Nepal, Pakistan is lagging behind to achieve the GHI targets.

A statement released by the Network for Consumer Protection Tuesday says the country is still struggling to ensure the availability of adequate food to its people.

This year’s theme for World Food Day is ‘The Right to Food’, which highlights a basic human right that is often ignored as extreme scarcity of food continues to afflict more than 850 million people across the world.

Easily affordable food is not being provided to consumers, mainly to due to high prices. A main source of affordable food is street food, which is a midday meal for a vast majority of working class, including daily wage workers, labourers, lower middle and middle class. Due to soaring prices access to food is beyond the financial capacity of a common man, said the Network. According to the Federal Bureau of Statistics (FBS) the food prices witnessed a surge by 8.4 per cent in September. “This index provides particularly comprehensive measure of the three indicators in 115 developing countries; child malnutrition, child mortality, and estimates of the proportion of people who are underweight,” said The Network.

“While Pakistan is working at a slower pace to eliminate hunger from the country as compared to India and Bangladesh,” it added.

Dr Talib Lashari, executive coordinator of The Network for Consumer Protection, opined that soaring prices and shortage of food could seriously impede progress on the Millennium Development Goals (MDGs), specifically the first goal, which pledges to eradicate poverty and hunger and fourth goal which is aimed at reducing child mortality till 2015. Dr Lashari stressed the need for revamping the health sector to achieve the MDGs.

He further said that according to the GHI-2007 about one fourth of the population of the country was suffering from malnutrition and one third of children under five years of age were underweight.

Dr Lashari urged the strict implementation of the Food laws to ensure an access to hygienic food for all. Read the rest of this entry »

Hillary’s Tightly Scripted Campaign

Posted in Economic at 7:10 am by

At a recent Congressional Black Caucus presidential candidate forum Hillary Clinton upped the stakes for pandering to potential voters. She proposed a $5,000 baby bond for every child born in America. This account would grow over time and serve as a nest egg for college or as a down payment on a first home.

I am sure Senator Clinton thought this would be just another example of her innovative thinking; further proof of just home much she cares about children and families. Who wouldnt want a $5,000 bond to give their children a financial foundation for the future?

But the reaction was less than positive. Republicans jumped on it as just another example of Hillarys liberal big spending habits noting that she has proposed on the order of $724 billion in new spending in her various proposals.

But it wasnt just her political opponents who ridiculed the idea. $5,000 multiplied by the 4 million children born each year means outrageous costs. And that doesnt even take into account the cost of the government management of the program. Not surprisingly, voters and reporters alike were skeptical. The Chicago Tribune labeled it Clintons Baby Boondoggle.

Read On.

In the face of all of this criticism Hillary soon dropped the baby bond idea, but she picked up where she left off. Hillary switched to a proposal to give targeted individuals a $1000 refundable tax credit to set up a 401(k) type retirement account.

The irony in this new proposal is that it looks an awful lot like President Bushs social security proposal. You might recall that when President Bush proposed allowing workers to choose to put their social security payments into private investment accounts in order to take advantage of the dynamism and wealth of the stock market, Hillary and other Democrats reacted as if this was a threat to the very American way of life. They promised that privatization would never be an option.

Now, in typical Hillary fashion, she is attempting to have it both ways when it comes to retirement security. Seeking to provide a benefit to the politically important middle class she is more than willing to use the private sector to her benefit. A completely government funded and controlled program would simply be too expensive, so she offers a targeted tax credit and piggybacks off the very benefits of the market that she criticized President Bush for offering.

This dynamic reveals the tension at the heart of Hillarys tightly scripted campaign. Her natural tendency is to propose government-controlled programs to fix any and all social ills. She wants to appeal to the liberal base of her party while at the same time offering targeted programs to key voting groups. The baby bond was just such an attempt but it backfired.

The problem is that these programs cost a great deal of money and Hillary has claimed the centrist mantle of fiscal responsibility. So there are only so many programs she can propose and retain even a small amount of credibility on that front. This explains her move toward targeted tax credits and private investments. She gets to appear to be addressing an important issue without breaking the bank. Even Hillary knows there is a limit to what government can spend. But it is worth noting that lots of smaller programs can quickly add up as well.

In a moment of candor, Hillary even admitted this. In an interview with the Boston Globe she said: I have a million ideas. The country cant afford them all.

What the country really cant afford is Hillary Clinton in the White House.

Richard H. Collins is the founder of StopHerNow.com, a website dedicated to educating the public about Hillary Clintons liberal record.

Originaly from Source

Three Americans Win The Economics Nobel

Posted in Economic at 6:20 am by

Warmest congratulations to Leonid Hurwicz (emeritus, University of Minnesota), Eric Maskin (Princeton’s IAS) and Roger Myerson (University of Chicago) on winning this year’s Nobel Memorial Prize in Economics. Story here.

Building on ideas originally proposed by Hurwicz, the prizewinning work relates to imperfections in information flow in free markets.

Orthodox neoclassical economics holds that perfectly-free markets automatically and rapidly discount all available information. Not only is this clearly not true in practice, but there have also been several recent theoretical challenges to this view as well.

Among the key insights of “mechanism-design theory” is that participants in markets, elections, and negotiations have different incentives, and thus will tend to constrain the dissemination of information in ways that lead to suboptimal outcomes.

The United States continues its dominance of the Economics Nobel, with about two-thirds of all Economics Nobelists since Sweden’s central bank first began awarding the prize in 1969.

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