Radio America Online News Bureau

Economy

Booming Economy, Intolerant Left’s Purity Test, Disney Princesses & Abortion

by


David French of National Review and David French of National Review welcome more good economic news, including weekly jobless claims at the lowest level since January 1973 and the highest consumer sentiment in 14 years.  David fights back against the intolerant liberal mob that wants former National Review columnist Kevin Williamson ousted from his new position at The Atlantic in the latest example of demands for ideological purity in journalism on the left.  And they fume at a Planned Parenthood chapter in Pennsylvania for not only tweeting that Disney needs princesses that have had abortions, are undocumented, are union members or transgender, but they unload at the radical social justice warriors who insist pushing an extreme agenda in the face of small children.

NOTE: There will be no Three Martini Lunch on Friday, March 30, in observance of Good Friday.  Jim and Greg will be back on Monday, April 2.  Happy Easter!

Share

Is Trump-Kim Meeting Smart? Peterson’s Story Doesn’t Hold Up, Big Jobs Report

by


Jim Geraghty of National Review and Greg Corombos of Radio America look at the possible pros and cons of President Trump meeting face-to-face with Kim Jong-Un, hoping there’s a shot at progress but realizing the North Koreans have no track record of honesty.  They also fume as radio chatter from the Florida high school shooting confirms Deputy Scot Peterson knew right away that shots were being fired inside the building, a direct contradiction of his earlier explanation that he did not enter the building because he thought the shots were coming from outside.  And they celebrate a robust jobs report, with over 300,000 new jobs added in February.

Share

McCabe in Trouble, Trump’s Tariffs, Schumer Plays the Race Card

by


Jim Geraghty of National Review and Greg Corombos of Radio America are glad to see the inspector general at the Justice Department taking his job seriously as reports surface that his forthcoming report will be highly critical of former FBI Deputy Director Andrew McCabe.  While they sympathize with President Trump’s desire to fix trade imbalances, they fear new steel and aluminum tariffs will have a negative impact on American consumers and the economy.  And they slam Senate Minority Leader Chuck Schumer for announcing his opposition to a judicial nominee because the nominee is white and President Obama’s previous nominees were black.

Share

Trump Embraces Dem Gun Plans, Hicks Hits the Bricks, Economy Booming

by


Jim Geraghty of National Review and Greg Corombos of Radio America unload on President Trump for even saying he wants to see most aspects of the Democrats’ gun control agenda in a comprehensive bill and for apparently having little regard for due process rights.  They also discuss the resignation of White House Communications Director Hope Hicks and how the West Wing seems to be in a constant state of turnover.  And they close with good economic news, as new reports show wages rising – especially for low-income workers – and that the number of jobless claims filed last week were the fewest since 1969.

Share

Why is the U.S. Still Spending at Obama Levels?

by

As Congress approaches yet another government funding deadline, the U.S. government is still spending taxpayer dollars at Obama-era levels since lawmakers continue to kick the fiscal can down the road in perpetuity, and one leading economist says that inaction is triggering the return of trillion-dollar deficits that future generations will have to pay.

Vance Ginn is senior economist at the Texas Public Policy Foundation, where he also directs the foundation’s Center for American Prosperity.  Ginn also shared his insights on recent stock market volatility and what it means for the nation’s overall economic health.

On Feb. 8, the short-term continuing resolution approved last month will expire, triggering another partial government shutdown unless another funding bill is approved.  Right now, Democrats and President Trump are drawing competing lines in the sand over immigration policy.

As a result, no one is advocating actual changes in spending for the various department and obligations of the government.  In essence, the U.S. is still operating at Obama-era spending levels more than a year into the Trump administration.

Congress and Trump have repeatedly avoided dealing with the issue by passing and signing continuing resolutions in April, September, December, and January.  And there is no indication the next bill will be any different.

“What it seems like they’re doing is trying the same thing over and over again and expecting a different result.  That’s the definition of insanity and that’s what we continue to have in D.C,” said Ginn.

“Congress hasn’t taken the opportunity here – and the multiple congresses before this – to restrain the growth of spending over time,” said Ginn, and he says political considerations are behind the failure to rein in spending.

And while Democrats are doing their best to gum up Republican efforts to trim the federal budget, Ginn says the bottom line is Republicans know cutting spending comes with political consequences, so they’re reluctant to do it.

“When you’re looking at the next election cycle, you want to get re-elected.  So it makes it very difficult to make those tough choices to cut spending for interest groups that are there often with their hands out,” said Ginn.

Recently, Treasury Department officials announced deficits for Fiscal Year 2018 could approach $1 trillion.  Most reaction has been quick to blame the recently approved tax cuts.  Ginn says that is one factor but not the primary factor.

“The driver of deficits and debt is spending.  We don’t have a revenue problem.  We have a spending problem.  We’ve got to get the spending under control as quickly as possible.  This would be a great opportunity to do that,” said Ginn.

And he says deficits will continue to bury us until the big ticket items are dealt with.

“The president has put out some good ideas like rolling back some of the funds going to the EPA and some other areas, but we really have to have congressional action.  This isn’t just going to take cuts to spending.  At some point, it’s going to have to be reforms to entitlement programs to really bend the cost curve so we don’t have massive deficits and debt year after year after year,” said Ginn.

Ginn says every year that lawmakers dither on spending adds another pile to the bill facing our children and grandchildren.

“That means future generations are going to have to pay more in taxes.  Currently the national debt is around $21 trillion.  (This years projected deficit) would push it up to $22 trillion or $23 trillion.  If you add in unfunded liabilities for Social Security and Medicare, we’re over $100 trillion in debt,” said Ginn.

Ginn says some states are modeling fiscal responsibility and that Congress could take a lesson from his state of Texas.

“When you look at the Texas model of low taxes, relatively less government spending and sensible regulation, what we’ve been able to do in Texas is pass conservative budgets that don’t increase by more than population growth plus inflation.  Actually it’s been less than that.

“It would be great to see the day where Congress can do that.  And that would help it to live within taxpayers’ means over time,” said Ginn.

Meanwhile, the past several days on Wall Street have investors reaching for the antacid.  Before Tuesday’s gains, the markets saw the biggest losing streak in about two years.  Ginn says the negative numbers approached the range of a typical correction, but figuring out why takes some work.

“Eighty percent of businesses have come in above expectations for earnings in the fourth quarter, so you would expect greater increases in the stock market as well.  But there’s also anticipation of faster economic growth and higher inflation, and some of those things are starting to contribute to an increase in interest rates, which slows economic growth and reduces the money supply in circulation,” said Ginn.

But with the Federal Reserve edging interest rates up recently, why is inflation becoming a problem?  Ginn sees two reasons.

“Part of that is from the economic growth potential from the tax cuts that were passed and people are already starting to see an increase in their pay.  As they see an increase in pay, they like to spend more and that increases demand.  Without the increase in supply – which I think we will see from increased production from businesses – that would increase inflation,” said Ginn.

But there’s another, very different reason inflation concerns are mounting.

“The Federal Reserve has increased the money supply quite dramatically over the last decade, from quantitative easing  and everything else.  So you’re seeing inflationary pressures from that monetary factor as well,” said Ginn.

The bottom line though, says Ginn, is that Americans should have confidence in the economy going forward.

“The fundamentals are strong.  The last three quarters of last year averaged three percent growth.  That’s the long-term growth rate of our economy over the last 100 years,” said Ginn, noting the number is significantly better than during the Obama years.

Standard Podcast [ 10:47 ] Play Now | Play in Popup | Download
Share

‘Good Trump’ Speech, Kennedy’s Disingenuous Response, Dems Balk at Lib Ideas

by


Jim Geraghty of National Review is back!  He and Greg Corombos of Radio America applaud much of President Trump’s State of the Union address, including the list of positive economic data and the powerful stories of a soldier’s heroism, families devastated by criminal illegal aliens, and the North Korean amputee who hobbled to freedom on crutches.  However, Jim wonders whether the goodwill from this speech will last or whether Trump’s Twitter instincts will create problems.  They also roll their eyes as Rep. Joseph Kennedy III delivers the Democratic response and blames Republicans for the government shutdown and dividing Americans by groups, and Jim points out that a Kennedy is exactly the wrong Democrat to denounce elitism, privilege, and abuse of women.  And they are amazed as Democrats refuse to applaud good economic news for minorities and the few liberal ideas in Trump’s speech simply due to their animosity for the president.

Share

Tax Cuts More Popular, Rough 2018 Forecast, Are Reporters Fit to Serve?

by


Jim Geraghty of National Review and Greg Corombos of Radio America welcome a new poll showing nearly half of Americans hold a positive view of the Republican tax bill and are bullish on the economy, although they are not ready to give Trump and the GOP credit.  They also wince as Democrats win a usually safe Republican seat in the Wisconsin State Senate, and Gov. Scott Walker urges GOP members and activists to make sure people know about their significant accomplishments.  And they sigh as President Trump’s doctor gives the commander-in-chief a clean bill of health, but White House reporters still ask the physician a litany of repetitive questions about Trump’s mental health and whether he he is fit to serve under the conditions of the 25th Amendment.

Share

Rauner Ought to Beware Ives in March

by

Calling incumbent Illinois Republican Gov. Bruce Rauner a “failed governor,” conservative State Rep. Jeanne Ives says she cannot leave the GOP field to a man who broke countless promises and ended up doing the bidding of the Chiacgo Democrats.

Ives, a West Point graduate and U.S. Army veteran, was first elected to the Illinois House of Representatives in 2012.  The GOP primary in Illinois is March 20.

Rauner was elected in 2014 on a platform of reforming government in Illinois and seriously addressing the state’s looming fiscal crisis.  Instead, he is branded now by National Review as the worst Republican governor in America, after raising taxes instead of cutting them, signing a bill that forbids law enforcement from checking the immigration status of people they stop, and enacting taxpayer-funded abortion in the state.

“Let’s be clear.  Gov. Rauner is a failed governor.  He’s specifically a failed Republican governor, which is why I’m challenging him,” said Ives.

She says one issue in particular triggered her primary challenge.

“The tipping point really became when he signed taxpayer funding of abortion, because that’s the point at which I started to get calls from colleagues and other Republicans around the state saying, ‘We do not want him to run unopposed.  We need someone else to stand up for us,'” said Ives.

Rauner tries to downplay the abortion bill by saying he’s pro-choice but the party is a big tent and he has supported pro-life candidates in the past.  Ives says all Republicans in Springfield, regardless of their position on abortion, were appalled by Rauner’s actions.

“No Republican, even Republicans who consider themselves pro-choice in our legislature, none of us signed on for taxpayer funding of abortion.  None of us did.  He told us he was going to veto that bill and then did not and decided to sign it anyway, based on his wife being very pro-choice and based on his own propensity of being pro-choice,” said Ives.

“He enacted with that bill the economic agenda and the social agenda of the Chicago Democrats, rather than a Republican conservative reform agenda,” added Ives.

In addition to the moral revulsion of Rauner’s support for the abortion legislation, Ives says the governor saddled Illinois taxpayers with another massive tax bill.

“He lied to us.  He betrayed who we are as Republicans and he put in a brand new entitlement program in a state that it literally bankrupt.  Nobody does that,” said Ives.

Rauner also took a lot of heat from the right for failing to stop Democrats from pushing new tax increases into law when the state’s budget hung in limbo last year.  The governor said people need to realize he does not run Illinois and that Democratic House Speaker Mike Madigan is actually more powerful than he is.

Ives finds that excuse revolting.

“He needs to resign over that comment, quite frankly.  The idea that the governor says, ‘I’m not in charge.’  Are you kidding me?  It just tells you where he is in terms of his fight and his stance.  That’s just nonsense,” said Ives.

Democrats do enjoy large majorities in the state legislature, including a 67-51 margin in the state house and a 37-22 edge in the state senate.  However, Ives says Rauner needed to do more to get Democrats to join him in doing the things he promised in 2014.

“There’s much you can do in terms of turning the state around and getting the buy-in from the legislators to do that, and Gov. Rauner just didn’t do that.  He picked a personal fight with our longtime serving Speaker of the House Mike Madigan, who does wield a lot of control.  However, he didn’t build the coalitions that would make the bills possible for a turnaround,” said Ives.

So how would Ives be different?

“We’re just the worst-run state in the nation.  We need to reverse course on nearly every policy.  We need policy revolution and I’m ready to lead that revolt,” said Ives, who says she knows where she would start.

“We’ll go after public corruption.  Corruption is an everyday event in the state of Illinois and it is something that the executive is charged to deal with, which is enforce our laws.

“We’re all about spending reform.  Look, Illinois pensions are the worst in the nation and it’s crowding out all the other services we need to spend money on,” said Ives.

Ives says the pension bubble is a major problem at both the state and local levels, and old methods of kicking the can down the road won’t work anymore.

“Chicago’s got a huge, massive balloon payment due that’s going to nearly double its pension costs by 2023.  That’s an extra billion dollars that they don’t have and can’t find because they’ve already raised taxes and fees to the hilt,” said Ives, who says Chicago pensions are only 20 percent funded.

Unlike Rauner, Ives says she’s ready to engage in talks with Democrats to fend off the crisis.

“We have a very powerful governorship, we just have a weak man in it.  He didn’t want to take on the fights that needed to be taken on after a while and he just got beaten down.  Time for new leadership.  Time for someone who’s willing to win the conversation and actually do the work to lead this state,” said Ives.

She says that approach is the only hope for Illinois to stay solvent.

“We’ve had the worst job growth in the nation.  We’ve had the worst income growth in the nation.  We lead in out migration because our taxes are too high.  I got involved in politics for economic reasons, so we’re going to focus in on the economic stuff,” she said.

If she can win the nomination, Ives would then run statewide in a deep blue state come November – most likely against billionaire J.B. Pritzker.  So how would Ives convince voters with Democratic instincts to give her a chance.

“Most people think that J.B. Pritzker will be the Democratic nominee because he’s supported by Mike Madigan.  I think that’s a losing ticket for Illinois.  I think you’re going to have a lot of disaffected Democrats not vote for that ticket and instead look for a reformer, look for somebody who’s actually got a record of leading a revolt and speaking out on behalf of taxpayers and working across the aisle when the legislation is good,” said Ives.

First, however, Ives needs to knock off another another billionaire in Rauner.  The battle is even more uphill with the state Republicans squarely in Rauner’s corner.

“They want to stick with Rauner because he’s got so much money that he can feed the rest of the legislative races.  I think that’s all just a bunch of junk.  It’s Gov. Rauner who cannot win in 2018.  Nobody is going to re-elect him in 2018 and that’s a bipartisan feel,” said Ives.

Ives says the energy behind her campaign is palpable, as she acquired 16,000 petition signatures without spending any money.  There are no recent polls of the race.  One from several weeks ago shows Rauner up double figures but below 50 percent among Republicans.  Ives believes the race is now neck-and-neck and thinks the trust issue will determine the nominee.

“He may have a lot of name ID but it’s negative and you cannot buy back trust after betrayal.  Rauner has betrayed our party.  His base is no longer with him.  He can’t win in 2018, which is why Republicans deserve an alternative, and an alternative to hiring a plutocrat like Pritzker for the job too,” said Ives.

 

Share

‘This is a Giant Move’

by

The Trump administration is advancing plans to open up the vast majority of the Outer Continental Shelf to energy exploration and development, a move that a leading national security voice in Congress says will be another major boost to our economy and protect American interests by end any dependence upon rogue states that sit on a lot of oil.

On Thursday, Interior Secretary Ryan Zinke announced he was moving forward with ambitious plans to increase America’s domestic energy supplies.

Zinke says the National Outer Continental Shelf Oil and Gas Leasing Program “proposes to make over 90 percent of the total OCS acreage and more than 98 percent of undiscovered, technically recoverable oil and gas resources in federal offshore areas available to consider for future exploration and development.”

He says that is a dramatic shift from the policies of the Obama administration.

“By comparison, the current program puts 94 percent of the OCS off limits. In addition, the program proposes the largest number of lease sales in U.S. history,” he said.

Wittman says the Obama administration often pointed out that it allowed energy companies to locate deposits of oil and gas but companies refused because they knew the government would deny them leases to actually extract the energy, making the exploration costly and pointless.

Zinke notes that the 47 potential lease sales as part of the Draft Proposed Program, including “19 sales off the coast of Alaska, 7 in the Pacific Region, 12 in the Gulf of Mexico, and 9 in the Atlantic Region.”

Rep. Rob Wittman, R-Virginia, sits on the House Natural Resources Committee and is thrilled with this development.

“I think this is a giant move,” said Whitman who, unlike some other congressional Republicans, says he would be fine with productive, safe energy production off the coast of his state.

Wittman points out there is much more process to go through to get the production going.  There are multiple public comment periods and other hurdles to clear, including putting together the infrastructure to determine where oil and gas can be tapped on the Outer Continental Shelf.

For his district in southeast Virginia, the impact of energy production on the operations of the U.S. Navy will be a key issue to address.

When it does come, he expects the first action to come in the Gulf of Mexico since the infrastructure is better built there.

While activists and lawmakers in both parties worry about the environmental impact, Wittman says the technology is getting better all the time.

“I believe we can put the proper controls into place to protect the environment but also develop our energy offshore.  I think this is a significant step forward and certainly cements United States energy security well into the future,” said Wittman.

He says disasters like the 2010 Deepwater Horizon explosion offered many lessons for energy producers.

“There’s been some criticism that the lessons learned in Deepwater Horizon haven’t been put in place in the regulatory realm.  I think where that should be reflected is in the permitting realm.  Make sure the permitting is there with the proper construction guidelines and protections.  Those are absolutely critical,” said Wittman.

He says many critics forget that Deepwater Horizon was a result of human error, trying to stretch equipment beyond what it was capable of doing.

While critics of the plan, including many Democrats, believe our national energy policy ought to be focused on renewable forms of energy, Wittman says reality dictates that this type of exploration and production is essential to meet our needs.

“You’re going to have to have hydrocarbons as part of that future energy portfolio.  If we don’t, then we put the United States at a distinct strategic and economic disadvantage.  We do not want to do that,” said Wittman, who says efficient production and use of traditional energy sources will provide more time to develop more effective renewable options.

If the Zinke plan does come to fruition, Wittman expects it to be an economic windfall for Virginia and other states.

“For Virginia, it would mean thousands of jobs, not only in the construction but also the maintenance of these rigs.  Remember, there are boats that go back and forth to tend these rigs.  There are highly skilled technicians that operate these rigs.  There’s a whole maritime industry that goes with it,” said Wittman.

Wittman also serves on the House Armed Services Committee and chairs its Seapower and Projection Forces subcommittee.  He says energy production brings national security by providing economic security.

“We have seen in the past when we are at the mercy of nations that don’t like us and are aggressively going after us by trying to kill our men and women around the world that serve this nation in uniform and then we rely on them for our energy.  That’s a not a good strategic situation to be in,” said Wittman.

“And it gives us the ability to create better situations around the world because we’re not held hostage to relying on those nations for our energy,” he added.

Congress does not need to authorize the program.  However, liberal interest groups are likely to slow it down in court.  Wittman denounces lawsuits designed solely to grind policy to a halt.  He says the bottom line is that the executive branch has the power to do this regardless of whether all Americans support the plan.

Share

Awards: Underreported Stories, Overreported Stories, Best Stories of 2017

by


Jim Geraghty of National Review and Greg Corombos of Radio America focus squarely on the media in this episode of the Three Martini Lunch awards.  They begin by discussing two massive stories that media either ignore or are severely downplaying – one overseas and one here in the U.S.  Then they switch gears to reveal which stories received far too much coverage in 2017.  Finally, they choose what they see as the best stories of the past year.

Share