Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: cutting

Fitch Knocks Saudi Arabia’s Credit Rating Down Another Notch

This article appeared online at TheNewAmerican.com on Wednesday, March 22, 2017:

Fitch Ratings downgraded Saudi Arabia’s credit rating again on Wednesday, bringing it perilously close to “speculative,” from “investment grade.” It dropped the country’s long-term credit rating from A+ to AA-, but with a “stable” outlook, noting that the reduction was due to the country’s “continued deterioration of public and external balance sheets.”

Fitch sees what both Moody’s and Standard and Poor’s, the other two global credit rating agencies, see: declining oil prices hurting a country that once enjoyed the highest investment grade ratings thanks to high oil prices that not only paid for extravagant welfare programs and subsidies to its citizens but allowed it to accumulate three-quarters of a trillion dollars in foreign reserves — more than ample to ride out any conceivable storm.

The rating agencies have seen that an inconceivable storm arrived in 2014 when

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More Evidence that OPEC’s Influence is Waning

This article was published by The McAlvany Intelligence Advisor on Wednesday, March 22, 2017:

A measure of the success – and failure – of OPEC’s agreement to limit crude oil production can be seen in the chart of NYMEX crude oil price behavior (Sources below) dating from last fall. When the agreement was inked back in November, crude was at $46.50 a barrel. The price soared and traders got excited, putting in long bets that set records.

By early January, reality began setting in as compliance among the cartel’s members and non-members (who agreed to go along for the ride) began to wane. The roof fell in a couple of weeks ago when inventory builds continued to set records, and the price dropped through support at $50.

In other words, in OPEC’s attempt to birth an elephant, it succeeded in birthing a gnat.

Saudi Arabia maintained a stiff upper lip during the Houston oil conference, stating flat out that

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Trump’s “Blueprint” Budget Is a Policy Statement; Real Budget to Follow

This article appeared online at TheNewAmerican.com on Thursday, March 16, 2017:

English: Official portrait of US Rep. Mick Mul...

Mick Mulvaney. Trump’s OMB Director

President Donald Trump’s Office of Management and Budget (OMB) unveiled “America First — A Budget Blueprint to Make America Great Again” on Thursday, noting that the president’s actual budget will be released in May. President Trump and his OMB Director Mick Mulvaney joined in outlining the “blueprint” without disclosing hard numbers, revenue projections, or even an economic outlook to back it up. It was, in other words, a policy statement, with details to follow.

Said Trump:

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Trump’s 2018 Budget Won’t Touch Social Security, Medicare

This article appeared online at TheNewAmerican.com on Monday, February 27, 2017:

English: The standard Laffer Curve

The standard Laffer Curve

Treasury Secretary Steven Mnuchin said on Fox News on Sunday that cuts in entitlement programs — i.e., Social Security and Medicare — won’t appear in the president’s budget: “We are not touching those now. So don’t expect to see that as part of this budget, OK? We are very focused on other aspects and that’s what’s very important to us.”

Trump’s budget for fiscal year 2018 (starting October 1, 2017) is expected to be presented to the House on Monday, March 13, just two weeks away. And there are a lot of moving parts that must be glued into place before then.

Those parts include

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Americans, Europeans Agree: Trump Is Right on Immigration

This article appeared online at TheNewAmerican.com on Monday, February 13, 2017:

English: Nigel Farage at Lord's cricket ground...

Nigel Farage

A poll by the Royal Institute of International Affairs (RIIA, also known as Chatham House), the British sister organization to our Council of Foreign Relations (CFR), taken a month before President Donald Trump issued his temporary suspension on refugees, showed widespread and increasing support among Europeans for his actions. Across all 10 of the European countries polled, 55 percent of those polled agreed that all further immigration from “mainly Muslim” countries should be stopped while only 20 percent disagreed. In no country did those disagreeing exceed 32 percent.

The results were “striking and sobering,”

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Trump’s Regulatory Executive Order: One In, Two Out

This article appeared online at TheNewAmerican.com on Monday, January 30, 2017:

Official Portrait of President Ronald Reagan

White House officials described President Donald Trump’s Executive Order for “Reducing Government Regulations and Controlling Regulatory Cost” as Trump’s “one in, two out” plan: For every regulation promulgated by a federal agency, that agency must “identify” two existing regulations to be targeted for extinction.

The order also sets a cap of $0 for the cost of new regulations, with the only exceptions being military and national security regulations. The president said when signing the order,

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Saul Alinsky’s Influence in Washington is Already Being Reduced by Trump

This article was published by The McAlvany Intelligence Advisor on Friday, December 30, 2016:  

Français : Logo SEIU

One of Saul Alinsky’s rules, perhaps the most vicious, is this:

The means-and-ends moralists, constantly obsessed with the ethics of the means used by the Have-Nots against the Haves, should search themselves as to their real political position. In fact, they are passive – but real – allies of the Haves. The most unethical of all means is the non-use of any means.

In other words, anything goes if the end merits it.

This is what has driven the Service Employees International Union – the SEIU – for years. Whatever means used to achieve a given end are acceptable. This is what Kenneth Gladney learned the hard way in 2009 when he was peaceably protesting ObamaCare. At a St. Louis town hall meeting, four SEIU thugs surrounded him and taught him the lesson:

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Will Mick Mulvaney Pull Trump’s Financial Fat Out of the Fire?

This article was published by The McAlvany Intelligence Advisor on Monday, December 19, 2016:  

English: Official portrait of US Rep. Mick Mul...

Michael “Mick” Mulvaney (shown) rode the Tea Party wave in 2010 into Congress, replacing a 14-term Democrat from South Carolina’s 5th District. He has been handily reelected ever since. He took his oath of office seriously, saying in 2010 that “If political reporters want to know what drives the Tea Partiers, it is their belief in the Constitution. That’s what has always driven me in politics and will guide me in Congress.”

He remained as true to his word as any of those riding the same wave,

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Oops! Trump Names Rick Perry as Energy Secretary

This article appeared online at TheNewAmerican.com on Tuesday, December 13, 2016:

Governor Rick Perry of Texas speaking at the R...

Former Texas Governor Rick Perry (shown) said that it’s likely his first presidential run ended during a Republican debate in 2011. He ran on a platform of cutting government and when he was asked by a moderator which agencies he would eliminate, Perry responded:

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Trump’s Plans to Cut Government Coming Into Focus

This article appeared online at TheNewAmerican.com on Wednesday, December 7, 2016:  

English: , member of the

With the help of Representative Jason Chaffetz (R-Utah – shown)), the chairman of the House Oversight and Government Reform Committee, President-elect Donald Trump is narrowing his focus on just how, starting on his first day in office, he plans to start cutting government.

Trump made many promises on the campaign trail, many of them glittering generalities:

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Chuck Schumer Seeks “Common Ground” With Trump

This article appeared online at TheNewAmerican.com on Monday, November 21, 2016:  

Senator Charles Schumer

Senator Charles Schumer

During a press interview at his office on Friday, New York Democratic Senator Charles Schumer said that he had spoken two or three times with President-elect Donald Trump: “He’s called. He’s friendly. The word is that he thinks he can work with me, but we’ll see. The jury’s [still] out.”

Schumer, just reelected for his fourth term as senator, will become the Senate minority leader in the 115th Congress as Harry Reid, the present Senate minority leader, is retiring. The Wall Street Journal characterized the interview as an effort by Schumer to seek “common ground” with Trump. Other members of the press weren’t so charitable.

Schumer was feisty,

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Tax Foundation Rates Tax Plans of Trump and Clinton: Trump’s Plan Wins

This article appeared online at TheNewAmerican.com on Thursday, October 20, 2016:

Tax Foundation

Tax Foundation (Photo credit: Wikipedia)

Analysis by the Tax Foundation of all that is currently known about the tax plans proposed by presidential candidates Donald Trump and Hillary Clinton concludes that, if enacted, Clinton’s plan would expand government at the expense of a shrinking economy. On the other hand, Trump’s plan would grow the economy, shrink government’s revenues, raise wages, and expand employment.

But it’s not tax “reform,” claims the study’s author, Kyle Pomerleau,

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Would Trump’s Corporate Tax Cut Help the Economy?

This article appeared online at TheNewAmerican.com on Wednesday, September 28, 2016:  

 Removing the noise and the histrionics from Monday night’s presidential debate, there is a clear division between the two major-party candidates on the state of the economy and what to do about it.

The Democrat candidate said that the economy is on the mend, that jobs are being created, that real incomes have just recently increased, and that the outlook for the economy is sanguine.

The Republican candidate held the opposite view: after seven years the economy is still struggling, the recovery is the weakest in recent memory, and the outlook is bleak.

The Wall Street Journal noted that Trump’s case is the stronger,

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Brazil’s Oil Company Shrinks Following Operation Car Wash Scandal

This article appeared online at TheNewAmerican.com on Tuesday, September 20, 2016: 

Brazil - The first 100% Brazilian oil platform...

Brazil – The first 100% Brazilian oil platform, the P-51 will produce about 180 thousand barrels of oil and 6 million cubic meters of gas per day when operating at full load.

Two separate announcements on Monday from officials at Petrobras, Brazil’s state-owned oil company, reveal the massive damage it has suffered over the last 10 years. First was the news that it just successfully concluded the offloading of its precious gas pipeline unit for an estimated $5 billion. The company said this was just part of its determination to sell off about $20 billion of its assets over the next couple of years in order to pay down some of its $125 billion indebtedness.

The second announcement was even more revealing:

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Autonomous Vehicles to Put Four Million People Out of Work?

This article appeared online at TheNewAmerican.com on Friday, September 16, 2016:  

Whenever economic change takes place, there are those who ask: Where will those displaced find other work? In counting the costs involved as autonomous vehicles (i.e., driverless cars, self-driving cars, robotic cars, etc.) continue to revolutionize how people move, Wolf Richter of Wolf Street concluded that more than four million people will lose their jobs:

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Will the Robotic Revolution Make Your Job Obsolete?

This article appeared online at TheNewAmerican.com on Monday, March 28, 2016:  

More than two dozen massive bright red robots move 20-foot-long shipping containers at the Los Angeles terminal developed by TraPac, cutting costs by between an estimated 30 and 50 percent. A new terminal, being built at the Port of Long Beach, will be able to handle nearly half of that port’s entire volume, moving and stacking more than three million of those shipping containers every year.

But the Port of Rotterdam in the Netherlands has more automated delivery terminals than the entire United States, thanks to delays by Luddite unions in America determined to

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As Oil Price Drops, Iraq Faces Existential Threat

This article appeared online at TheNewAmerican.com on Monday, February 1, 2016:  

In Iraq the culture of dependency is so great that the drop in the price of oil threatens the country’s very existence. With every Iraqi dependent upon the government for essentials like sugar, tea, rice and cooking oil, and the government dependent upon oil for more than 90 percent of its budget, the existential threat is real.

In January 2015 the government, headed up by President Fuad Masum and Prime Minister Haider al-Abadi, passed a budget that

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Want to Revive a State’s Economy? Put in Place the Florida Model

This article was published by The McAlvany Intelligence Advisor on Friday, January 29, 2016:  

Rick Scott has always been an entrepreneur. While enrolled at the University of Missouri-Kansas City and working full-time at a local grocery store, Scott and his wife Ann bought two Kansas City donut shops. After getting his law degree, he went to work at a law firm specializing in the health care industry. In 1987, at age 34, he took all that they had in the bank and started Columbia Hospital Corporation. Two years later his company was merged with the Hospital Corporation of America to become Columbia/HCA.

In the next ten years it had grown to become

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Florida’s Economy Rebounds Thanks to Cuts in Taxes, Spending, Regulations

This article appeared online at TheNewAmerican.com on Wednesday, January 27, 2016:  

Almost immediately upon assuming Florida’s governorship in January, 2011, Rick Scott started cutting. He increased the state’s exemption level for corporate taxes from $25,000 to $50,000. He expanded the state sales tax exemption for manufacturing equipment. In 2013, he approved a three-year total exemption of that sales tax. In 2014, he pushed to raise the corporate tax exemption from $50,000 to $75,000. Last year he signed into law a $400 million cut in vehicle fees. In all, over the past five years he, with the help of a friendly legislature, has cut nearly 50 taxes.

Along the way

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Kansas Considers Tax Increases Just as Its Economy Revives

This article appeared online at TheNewAmerican.com on Friday, June 12, 2015:

English: Aerial view of Kansas City, Kansas, l...

Aerial view of Kansas City, Kansas, looking southwest. The Kansas River (right-center) joins the Missouri River (left). A small piece of Kansas City, Missouri is visible on the left of the Missouri River.

 

Kansas House members debated until midnight Thursday whether to raise sales and cigarette taxes in order to close the state’s budget deficit. The House had just resoundingly defeated a previous measure that would have raised those taxes even more, but the state is facing a deadline to balance its budget, required under its constitution.

There’s a roughly $400-million shortfall this year, which is estimated to increase for the next several years.

Left-wing pundits have had a field day taking Governor Sam Brownback to task for calling his massive tax cuts enacted in 2012 an “experiment,” a “shot of adrenalin,” and similar to Ronald Reagan’s experiment based on the Laffer Curve: Reducing tax rates will increase tax revenues as the economy grows.

Paul Rosenberg, senior editor of Random Lengths News, a tiny weekly newspaper operating out of Long Beach, California, is a good example. His paper describes itself as an “independent progressive newspaper” with a readership of 63,000 that “is proud of the support from the Harbor Area labor unions, who allow us exclusive distribution inside most of their union halls.”

Rosenberg managed to get a screed attacking Brownback published in the hard-left Salon magazine in which he describes the Kansas governor as

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.