Sen. Jim DeMint (R.-S.C.) said last week that President Barack Obama is “just trying to use the mainstream media to confuse the American people. The fact is I think he thinks Americans are stupid, and he’s going to play this out until he gets a headline in every paper that Republicans are obstructionist.” DeMint was referring to the President’s claims that Republicans were obstructing a deal on the Senate’s so-called financial reform bill. Americans are smart and they support the efforts of conservatives in Congress to obstruct the bill, which would give Washington permanent bailout authority over Wall Street.
On April 14, the President stated that he was “absolutely confident that the bill that emerges is going to be a bill that prevents bailouts.” He shouldn’t be, as the bill is loaded with “bailouts.” According to James Gattuso of The Heritage Foundation, “Section 204 of the bill authorizes the Federal Deposit Insurance Corporation (FDIC) to ‘make available ... funds for the orderly liquidation of (a) covered financial institution.’”
This would allow the creditors of a failing company to get bailed out with your tax dollars. Americans are intelligent and understand that conservatives have been fighting to get an agreement from the allies of big government in Congress to remove bailout authority from the legislation.
Obama Wrong on Cost of Obamacare
The President’s National Commission on Fiscal Responsibility and Reform kicked off last week and is expected to produce a report later this year (after the November elections, conveniently) on how to reduce the federal debt (approximately $12.8 trillion and soaring).
The commission is co-chaired by Erskine Bowles, former chief of staff to President Clinton, and retired Sen. Alan Simpson (R.-Wyo.). Conservatives are worried that the recommendations from this commission will be heavy on tax increases and light on cuts.
President Obama boldly proclaimed that “everything has to be on the table” including spending and revenue. This is the same President who promised not to raise taxes on those earning less than $250,000. One of the ideas being vetted by President Obama is the establishment of a Value Added Tax (VAT), a tax added at every stage of production. It’s a sneaky way to raise hundreds of billions in revenues from all Americans. Watch closely as the President takes Obamacare, the stimulus and his other sacred cows off the Commission’s table for cuts. Instead, he’ll push for it to recommend tax increases.
Senate Democrats are working on draft immigration reform legislation in an attempt to bring it up this year. President Obama claims that there “may not be an appetite” in Congress this year. The President indicated that global-warming legislation is still a priority over immigration reform, yet Senate Majority Leader Harry Reid (D.-Nev.) has indicated that he would like to move immigration before global-warming legislation.
Senators Reid, Chuck Schumer (D.-N.Y.) and Robert Menendez (D.-N.J.) are working on legislation that would increase federal enforcement agents, provide a pathway to citizenship for illegal immigrants and provide for a secure biometric identification card for all citizens. The President’s prediction may be proven wrong if Congress takes a run at comprehensive immigration reform later this year.
Jeers to Reid
Last week, Sen. Harry Reid declared that the Republican filibuster of financial reform was “anti-American.” This is the same man who once complained that in the summer he can “smell the tourists” in the Capitol, called President George W. Bush a “loser” and declared in 2007 that the Iraq war was “lost.” Jeers to the Senate majority leader for yet another baseless claim.
Brian Darling is director of U.S. Senate Relations at The Heritage Foundation.
First appeared in Human Events