White House Economic Adviser: ‘We Need a Global Minimum Tax’

By: Jeffrey Klein
Examiner.com

When President Obama announced that the submission of his budget would be delayed by 10 days, in order to work out some final details–many, rightfully expected the true reason was to run it through the “smoke and mirrors” machine again–and they were substantially correct.

This is supported by the fact that Obama chose to introduce his budget to America in an address to students at Northern Virginia Community College, who know little if anything about the current state of affairs in Washington, D.C., but are still a rich source of voters for him–because they repeat phrases well, are driven by hormones and do not ask any prying questions.

But, just to be safe, he came baring gifts tailor-made to his audience, in the form of a brand new $8 billion government program labeled, “Community College to Career Fund,” to help forge new partnerships between community colleges and businesses, with the stated goal of training two million workers for good-paying jobs in high-growth, high-demand industries such as health care, transportation and advanced manufacturing, according to FOXNews article today.

As to the voracity of the promises above, do the famous historical Obama promises “shovel ready jobs, unemployment won’t exceed 8 % and, and jobs are my number one priority,” ring a bell?

Regardless, just like his equally appalling FY 2011 budget, not even the still Democrat-controlled Senate will pass his 2013 budget–because it raises spending, creates the fourth nearly trillion dollar deficit in a row, and raises taxes on job creators.

However, most [cowardly] lacking are any substantive entitlement program reforms—which, at 40 percent of our budget, are the largest financial problems we face…threatening a us with a European style debt crisis.

Students should not feel singled out as victims of false Obama promises, as he is placing the entire country in jeopardy with his farcical budget; and the statement they released this morning—is itself, the epitome of audacity.

“We must transform our budget from one focused on speculating, spending and borrowing to one constructed on the solid foundation of educating, innovating and building.”

Speculating?

Could this be referring to Obama’s “clean energy/jobs programs” like Solyndra Solar, where they spent approximately $446,000 creating each of the 1,200 jobs, but then went bankrupt after just 18 months–with no recovery in sight for our $535 million in Energy Department loan guarantees?

At last count, there were approximately $17 billion worth of these investments, with about 10 percent of them already bankrupt, or on the verge—with no hope of recovery, or [lasting] green job creation.

However, not wanting to risk any impediments to reelection, millionaire investors in the project, like George Kaiser–a big Obama campaign bundler, had their $75 million investment in the company given a superior creditor position to that of the U.S. (against the law) through a last minute refinance.

Spending?

Could this be referring to Obama growing the size of the U.S. government by 24 percent since his inauguration–creating more dependent Democrat voters who belong to the public unions?

How about the $800 billion stimulus package, which passed without a single Republican vote, which had no affect on the unemployment rate, that rose from 8% to a peak of over 10%, then level off at 9%–because it was used primarily to back-stop failing states and municipalities, to save public [Democrat] union jobs, pension funds and healthcare?

Borrowing?

This must refer to the fact that during Obama’s first three years in office, he created more national debt than every single President, in every single term, before him, since George Washington–it stood at approximately $9.6 trillion, and whose limit was recently raised to $16.2 trillion?

Building?

Then why did President Obama refuse to approve the $7 billion Keystone Pipeline Extension project under review since 2008, which would have immediately created 20,000 high-paying, “shovel ready” jobs?

Because he didn’t want to lose the campaign contributions and enthusiastic support of his environmental extremist voting base in an election year, by approving a fracking shale oil project, totally funded by profit-making private industry.

No worries, Canadian Prime Minister Stephen Harper has been in China, calling President Obama’s bluff, by securing billions of dollars in Chinese investment equity on oil, uranium and natural gas resource development, to supply China’s growing need–taking that volume of oil off the open market and away from U.S. refining and consumption.

Obviously, President Barack Obama would prefer to spend $8 billion in taxpayer money for a future impact, government-controlled, [liberal] education-influenced student development program, versus an immediate impact, from a $7 billion private sector “big oil” project that creates jobs right now—without any government money or control.

This kind of conflict between word and deed may be what recently compelled New Jersey Governor Chris Christie to label President Barack Obama a “bystander president,”—because the Obama administration frames failures and mistakes as though they were absent from Washington, D.C. as it all took place.

Copyright (c) 2012 by Jeffrey Klein

Hat Tip: BB