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If you happened to miss this mornings festivities, here’s your chance to watch President ‘s inaugural address, in it’s entirety. President Obama gives a stirring speech on where he sees this country going, and what we all need to do to get there. You can also check out the full transcript of Obama’s address as well.

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The general objections[1] I have found against Obama’s proposed America Serves program are:

  1. This unpaid manpower will be used for nefarious means; with the volunteers steered into programs that support Obama’s socialist goals.

  2. The program will cost taxpayers money in subsidizing the college grants and insuring and providing resources for students to complete their service and is another example of government waste without any quantifiable levels of improvement.

  3. These service programs are one step away from the institution of a military draft.

  4. Service to one’s community necessarily derivatives from the American Dream, which is one of individual primacy, not a communal movement.

  5. Giving jobs to unpaid students will debilitate the market for paying jobs and therefore will send us down the road to a complete communist state.

  6. What is suggested as altruistic service often becomes government-subsidized coercion: a violation of an American’s right to serve as they chose to, whether paid or not.

[Sources: The Heritage Foundation blog, The Volokh Conspiracy, this Mises.org forumLew Rockwell editorial, and Bovard’s objections to the AmeriCorps program as outlined in Wikipedia.]

Click to continue reading Werd: Service - Part Three

According to President Bush this bailout is a good deal for Main Street.  He assures us that the tax dollars invested will pay for themselves and then some.  Oh really?  That’s the definition of a good investment. Well, if this is such a good investment why aren’t private investors rushing in to snap up these assets and companies at bargain prices?  Hint: Because they aren’t good investments!

Adding the $700 billion to the rest of the actions taken recently (Bear Stearns, AIG, Fannie Mae and Freddie Mac, FHA rescue bill, and the rest) the total balloons to a whopping $1.8 trillion, and counting!  Where is this money coming from?  Unfortunately for us, it’s coming out of thin air!  Anytime the government spends more than it receives in tax revenue, they engage in deficit spending. This is accomplished by the Treasury Department auctioning Treasury Securities on the open market. These are the same securities that China has purchased to the tune of $2.2 trillion. With me so far?

Click to continue reading Big Trouble in Little Washington