Emptysuit

The government faces a fourth year of trillion-plus deficits in 2012, according to new projections released Tuesday—numbers which also show little relief in the future unless Washington comes to grips with needed changes in its tax and spending policies. The $1.079 trillion deficit now projected for this fiscal year ending Sept. 30 is a step backwards from what CBO had predicted in August. And to punch home its message, the non-partisan agency outlines an especially grim scenario in which Congress not only extends all the current Bush-era tax cuts but pulls the plug on the $1.2 trillion in sequester set in motion by the Budget Control Act last summer.

Under this scenario—which can’t be ruled out politically—deficits would stubbornly hover just under $1 trillion through 2017, adding another $4.7 trillion altogether to the mounting federal debt. Under the more prudent—and many would say unrealistic— scenario of ending tax breaks and implementing cuts, the cumulative deficits would be $1.72 trillion or $3 trillion less from 2013-2017. But even this path comes with a warning from CBO: that debt service costs are already on the rise and will command an ever greater share of the annual budget.

“The federal budget remains out of balance throughout the decade,” the report reads. “The resulting accumulation of debt, along with rising interest rates, drives up the cost of financing that debt; in CBO’s projections, net interest costs grow significantly from 1.4 percent of GDP this year to 2.5 percent in 2022.” To put this in some perspective, by 2017, annual interest payments on the debt would begin to rival and soon exceed what Washington will be spending on Medicaid, the state-federal healthcare program for the poor and disabled. The economy is not forgotten in the report, and in fact appears to be a major reason for the higher deficit predicted for this year. Read the rest of this entry »

January 19, 2012
BEGIN TRANSCRIPT

RUSH:  All right, folks. I just saw the Marianne Gingrich video, and I think — I’ll be honest with you — I think the Democrats may have to give Newt a second look here.  Well, follow me on this.  Newt Gingrich, aside from the budget deal in ’95 and being made to ride in the back of Air Force One, Newt got along with Clinton pretty well, if you recall, and Newt treated Hillary with respect, even sat on the couch with Nancy Pelosi.  Now, there’s an accusation out there that Newt wanted an open marriage, just like Bill and Hillary.  And, in fact, Newt even had the politeness to ask permission for it.  Do you think Bill ever did that?

Now, if Newt can hold onto enough of the Republican base, he might take 20% of the Democrat vote with this.  You know how this stuff is a resume enhancement in the Democrat Party.  I wouldn’t make too many snap judgments here.  I don’t understand why the media’s pretending to be so upset about these charges coming from Marianne.  I mean, it’s all about sex and how many times are we told that somebody’s sex life, even if they’re president, doesn’t matter. It’s nobody’s business as long as it doesn’t affect the job.  And how about all the sex stories from Obama’s former girlfriends?  That’s right: What stories? What former girlfriends?  In fact, have we ever found out anything about any of his students when he supposedly taught law at the University of Chicago or buddies at Harvard Law Review?  I mean, we still don’t know anything. “Mr. Limbaugh, this is very clever of you trying to disguise the fact that Mr. Gingrich is…”  No, I’m just reacting here.  In fact, I got a great note.

I got a great note from a friend of mine.  “So Newt wanted an open marriage.  BFD.  At least he asked his wife for permission instead of cheating on her.  That’s a mark of character, in my book.  Newt’s a victim.  We all are.  Ours is the horniest generation.  We were soldiers in the sex revolution.  We were tempted by everything from Bob and Carol and Ted and Alice to Plato’s Retreat, Deep Throat to no-fault divorce.  Many of us paid the ultimate price, AIDS, abortion, or alimony for the cultural marching orders we got.  Hell, for all I know we Read the rest of this entry »

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Newt Gingrich lacks the moral character to serve as President, ex-wife Marianne Gingrich told ABC News, saying his campaign positions on the sanctity of marriage and the importance of family values do not square with what she saw during their 18 years of marriage. Marianne Gingrich has said she could end her ex-husband’s career with a single interview. Earlier this week, she sat before ABCNEWS cameras. She spoke to ABCNEWS reporter Brian Ross for two hours, and her explosive revelations are set to rock the trail. But now a “civil war” has erupted inside of the network, an insider claims, on exactly when the confession will air!

ABCNEWS suits determined it would be “unethical” to run the Marianne Gingrich interview so close to the South Carolina Primary, a curious decision, one insider argued, since the network has aggressively been reporting on other candidates. A decision was tentatively made to air the interview next Monday, after all votes have been counted. Gingrich canceled a press conference on Wednesday to deal with the matter. “He believes that what he says in public and how he lives don’t have to be connected,” Marianne Gingrich, Newt’s wife of 18 years, explained to ESQUIRE last year.

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H.R.3261 — Stop Online Piracy Act (Introduced in House – IH)

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title- This Act may be cited as the `Stop Online Piracy Act’.

(b) Table of Contents- The table of contents of this Act is as follows:

Sec. 1. Short title; table of contents.

Sec. 2. SAVINGS AND SEVERABILITY CLAUSES.

(a) Savings Clauses-

(1) FIRST AMENDMENT- Nothing in this Act shall be construed to impose a prior restraint on free speech or the press protected under the 1st Amendment to the Constitution.

(2) TITLE 17 LIABILITY- Nothing in title I shall be construed to enlarge or diminish liability, including vicarious or contributory liability, for any cause of action available under title 17, United States Code, including any limitations on liability under such title.

(b) Severability- If any provision of this Act, or the application of the provision to any person or circumstance, is held to be unconstitutional, the other provisions or the application of the provision to other persons or circumstances shall not be affected thereby.

TITLE I–COMBATING ONLINE PIRACY

SEC. 101. DEFINITIONS.

In this title:

(1) DOMAIN NAME- The term `domain name’ has the meaning given that term in section 45 of the Lanham Act (15 U.S.C. 1127) and includes any subdomain designation using such domain name as part of an electronic address on the Internet to identify a unique online location.

(2) DOMAIN NAME SYSTEM SERVER- The term `domain name system server’ means a server or other mechanism used to provide the Internet protocol address associated with a domain name.

(3) DOMESTIC DOMAIN NAME- The term `domestic domain name’ means a domain name that is registered or assigned by a domain name registrar, domain name registry, or other domain name registration authority, that is located within a judicial district of the United States.

(4) DOMESTIC INTERNET PROTOCOL ADDRESS- The term `domestic Internet Protocol address’ means an Internet Protocol address for which the corresponding Internet Protocol allocation entity is located within a judicial district of the United States.

(5) DOMESTIC INTERNET SITE- The term `domestic Internet site’ means an Internet site for which the Read the rest of this entry »

Michelle Obama denied that she is an angry black woman, following a new book’s allegations of infighting with her husband’s staff. Don’t be fooled, Michelle has been angry all her LIFE!

Remember This! Michelle said, “What we have learned over this year is that hope is making a comeback. It is making a comeback. And let me tell you something — for the first time in my adult lifetime, I am really proud of my country. And not just because Barack has done well, but because I think people are hungry for change. And I have been desperate to see our country moving in that direction and just not feeling so alone in my frustration and disappointment. I’ve seen people who are hungry to be unified around some basic common issues, and it’s made me proud.”

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The Marine Corps said that it is investigating the origins of a video that purports to show Marines in combat gear urinating on the corpses of three Taliban insurgents. Remember, Obama is Commander In Chief!

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