Enemy Of The Economy

Elizabeth Warren has never held a private sector job, never worked in the financial industry, and she hates banks, with a passion. So, what’s Obama’s brilliant idea? Let’s put her in charge of the new Bureau of Consumer Financial Protection bureaucracy! There’s only one problem, that position requires Senate confirmation and Warren is so toxic that even top Democrats know that there’s no way she would ever be confirmed. So, does that stop Obama, have Constitutional requirements ever stopped Obama? Hell no! Obama just ignored the Senate confirmation requirement and appointed her as his newest “czarina”.

Obama names Warren to new post

President Obama on Friday formally tapped Harvard Law Prof. Elizabeth Warren as a “special adviser” tasked with setting up a new consumer watchdog agency, sidestepping a thorny Senate confirmation battle and drawing the ire of Republicans.

Ms. Warren, who had been serving as head of the investigative board that oversees the $700 billion Wall Street bailout, is a hero to many progressives but is viewed coolly by financial firms turned off by her harsh rhetoric surrounding their role in the recession.

That’s likely one of the reasons Mr. Obama opted not to name Ms. Warren director of the Consumer Financial Protection Bureau as that position would require Senate confirmation — something that even Democrats, including Sen. Banking Committee Chairman Christopher Dodd, have said may not be possible. Instead, she will take the lead in establishing the new regulator, serving as a special adviser to Treasury Sec. Timothy Geithner and a special assistant to Mr. Obama.

See also:
Warren takes post; liberals cheer
Hurdles for Warren in Agency Launch
Warren is named bureau adviser
Obama taps Elizabeth Warren to launch Consumer Financial Protection Bureau
Barack Obama taps Elizabeth Warren for consumer watchdog job
What has Wall Street got against Elizabeth Warren?
Obama names consumer advocate Warren to new post
Obama makes it offical: taps Elizabeth Warren as financial consumer czar
Elizabeth Warren
Elizabeth Warren

Oh boy, just what this economy needs, a brand new gigantic government bureaucracy, created by someone with zero private sector experience, that will generate reams of onerous new government regulations. Is it any wonder why the United States has such an unfriendly business climate?

/somewhere in Germany, the Board of Deutsche Bank is smiling

Obama Lied, Your Health Care Plan Died

Remember this talking point, repeated ad nauseam?

Well, guess what, are you sitting down? Obama lied, what a shocka!

Friday night news dump: White House says 51 percent of company health plans won’t meet Obamacare guidelines

At Investor’s Business Daily, Sean Higgins and David Hogberg have a doozy of a story:

Internal White House documents reveal that 51% of employers may have to relinquish their current health care coverage by 2013 due to ObamaCare. That numbers soars to 66% for small-business employers.

The documents — product of a joint project of the Labor Department, the Health and Human Services Department and the IRS — examine the effects new regulations would have on existing, or “grandfathered,” employer-based health care plans.

Draft copies of the documents were reportedly leaked to House Republicans earlier in the week. Rep. Bill Posey, R-Fla., posted them on his Web site Friday afternoon. (View the full report here.)

The Associated Press is also on the story. Even they can’t ignore the dishonesty that was used to sell the health care overhaul:

Over and over in the health care debate, President Barack Obama said people who like their current coverage would be able to keep it.

But an early draft of an administration regulation estimates that many employers will be forced to make changes to their health plans under the new law. In just three years, a majority of workers — 51 percent — will be in plans subject to new federal requirements, according to the draft.

See also:
Administration: 51% Of Companies’ Health Plans Won’t Pass Muster
Health overhaul to force changes in employer plans
Health-care rules may force some to change coverage, leaked document suggests
Draft Health Rules Set Hurdles
Keep Your Health Plan Under Overhaul? Probably Not, Gov’t Analysis Concludes
Health overhaul to force employer plan changes
ObamaCare Vindication Watch: Majority of Workers Will Have to Change Health Coverage
Interim Final Rules for Group Health Plans and Health Insurance Coverage Relating to Status as a Grandfathered Health Plan under the Patient Protection and Affordable Care Act

Well, Obama and the Democrats passed Obamacare without reading it and now we’re sure as hell finding out what’s in it and it’s getting worse by the day.

/hey, you [expletive deleted] up, you elected them

Open Wide

Apparently, the Democrats are somehow under the mistaken impression that American citizens are still hungry for even more economy killing bull[expletive deleted] to be crammed down their taxpayer throats.

/Michael Ramirez

Kerry’s Powerless America Act

Regulations: Call it cap-and-trade or bait-and-switch, but John Kerry and Joe Lieberman continue to tilt at windmills with a bill to restrain energy growth in the name of saving the planet.

The bill introduced Wednesday and sponsored by the two senators is called the American Power Act, an Orwellian phrase if ever there was one. Like President Obama’s offshore drilling program, for every “incentive” there is a restriction. It’s as if Hamlet were to be appointed Secretary of Energy.

The legislation has little to do with developing America’s vast domestic energy supply. It’s cap-and-trade meets pork-barrel spending. It’s about regulations, restrictions and research. It does not deal with exploiting America’s vast energy reserves but with finding ways to mitigate their alleged harmful effect.

To that end, the bill creates some 60 new agencies and projects to eat up our tax dollars and buy support (see list alongside).

See also:
Cap And Tax Bureaucracy
Senators Propose Emissions Reductions Bill
Boondoggle giveaway: A glimpse at the new Senate cap-and-trade bill
Senate Climate Bill: Last Chance for Cap and Trade
Climate change bill in a tough spot
Now Launched, the Climate Bill Faces Period of Hard Work
Kerry-Lieberman Bill Bad for Consumers
Joe Lieberman’s sad, doomed American Power Act
Cap and Scam
How To Strangle the Economy

Needless to say, not a single Republican is on board with this job destroying garbage dump. In fact, it’s really hard to find much Democrat support for the bloated, bureaucratic eco-scam either.

/so, Kerry’s Folly is probably dead on arrival for now, however, it’s still best to vote these Democrat nimrods out of majority control of Congress so they can’t resurrect it from the grave