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$13 Billion From Where?

Buying seniors for $250 for ObamaCare

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Weak

Foreign banks dumping the dollar?

Economists have long predicted the dollar’s demise as the global currency of choice.  Some, such as Paul Krugman, hailed it as a means of correcting the American trade imbalance.  Love it or hate it, the weakening of the American dollar has begun
as central banks have started to buy euros and yen while dumping the dollar(via
Instapundit)

This could not come at a worse time, as the current American administration busies itself with massive new spending — and massive new debt.  The weaker dollar will make the sale of Treasuries that much more expensive, which should warn the US government away from further deficit spending.  The biggest problem afflicting the dollar, Bloomberg reports, is that there is just too much of it on the market, thanks to the increased need to cover deficit spending and the monetary policy that accompanies that need.

Does a weak dollar matter?  Should Americans care whether our currency dominates world markets?  James Pethokoukis says that whether we should or not, the decline of the dollar will almost certainly become a large political problem for Barack Obama

The crisis has its roots in policies that go back at least a decade, and in deficit spending that began to get out of hand with a Republican Congress and Republican President and went insanely wrong when Democrats took control.

However, Obama’s fiscal policies are the worst we’ve seen in a generation.  In a crisis which demands a return to fiscal sanity, the White House has instead become the asylum, as these deficit projections show — even without ObamaCare and cap-and-trade:

Instead of finding new ways for the federal government to spend money, Congress and the President should be finding new ways to curtail it and demonstrate that we intend to end our irresponsible spending and massive government overreach into the private sector.  In that sense, we can blame Obama for losing the opportunity to stop the dollar crisis before it reaches a tipping point.



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Salesmanship

Obama WH falsely downplaying risks of retreat in Afghanistan: Military, intel sources

Sources within both the intelligence and military communities tell McClatchy that Barack Obama’s White House has not been honest about the risks of moving away from a robust strategy of counterinsurgency in Afghanistan.  Obama and his advisers have begun publicly discussing the Taliban as a moderate alternative to al-Qaeda in terms of enemies, but the latest intelligence shows just the opposite.  Taliban leadership and AQ have integrated even more tightly than ever since 9/11 and act in concert on strategy and tactics

Bob Kerrey openly wonders why the White House has begun to tread the ground of retreat, in an op-ed for today’s Wall Street Journal

If the military and intel communities are telling Obama that the idea of a “moderate Taliban” is false — and Lara Logan emphatically agrees — then where did this idea arise in the first place?  It comes not from Afghanistan, but from the left wing of the Democratic Party.  They have increased pressure on Obama to get out of Afghanistan, and the Nobel Peace Prize was specifically intended to help in that effort.  The Left wants a way out of the war, and the Obama administration has begun floating trial balloons to help sell this as something other than a retreat, if Obama goes along with it.

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Insubstantial

The Peace Of The Grave

I’m not really surprised by the Nobel committee’s decision to grant the Peace Price to Barack Obama. I assumed they would give it to him at the earliest opportunity. I forgot the award had not been given for this year. It would have been slightly better for their credibility if the Nobel committee had waited until next year, but perhaps they didn’t want to take the chance that current events would make that impossible by the end of 2010. The kind of “peacemaking” favored by the Nobel committee is the kind that usually gets innocent people killed, and frequently ends in the kind of war that comes as an even bigger surprise than Obama’s award.

Obama had been in office for less than two weeks before the Nobel nominations were finalized, so his nomination was not based on anything he had done as President. The Nobel Price long ago became a joke, and an insult to the people who suffer under terror and tyranny around the world, but I don’t think the committee just threw Obama the award because he’s so wonderfully special,. . .

Barack Obama’s America, mortgaged to the hilt and several trillion dollars beyond broke, with a stagnant economy trapped in government amber, will no longer be such a nation. The Nobel committee is pleased to reward him for that, because a muscular United States rocks a lot of boats. The “international community” has never forgiven George W. Bush for backing it into a corner over Iraq, and forcing the United Nations to enforce its own resolutions. “Resolution” is harmless and exciting when it’s a word spoken by important diplomats, and scribbled into strongly-worded letters. It’s scary when backed up by forceful leaders who take it seriously.


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“Sticker Shock.”

Obama WH bought COIN without understanding the cost: WaPo

If nothing up to this point convinced people of the amateurish and bungling nature of Barack Obama and his administration, this Washington Post story makes the case all by itself.  For two years, Obama campaigned on changing the strategy in Afghanistan to a more effective counterinsurgency (COIN) strategy, claiming that the Bush administration had dropped the ball in the Af-Pak theater in large part by not committing the resources needed for an effective battle plan (an assessment shared by John McCain).  On taking office, Obama quickly increased troop levels in Afghanistan and appointed COIN strategist Gen. Stanley McChrystal to lead the mission.

However, the Post reports that Obama and his team never understood the implications of his demand for the new strategy.  McChrystal’s assessment of the needs for his COIN plan sent them into “sticker shock,” according to one Post source in the White House
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Bury The Vietnam Analogy

Enough with the Vietnam analogies already
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Biden Butts In

As the commander in Afghanistan tries to get President Obama's attention on troops, it's political players like Vice President Biden who have his ear. Yet the military has a record of success. Biden has only blunders. ... More »
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Sarah Palin Is A Classic Populist Politician

Why people like Palin

What makes her so popular is her very nature. She is the definition of “grassroots”, a working mother who successfully entered politics at the municipal level and worked her way up to the governorship. She didn’t manage this by impressing people with her five different institutions of education, or how many books she had written on Russian foreign policy. No, she managed it because she inspired Americans who felt that Sarah was “one of them.”

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Jeri Thompson vs. David Brooks

American Spectator: While putting fresh newspaper in the birdcage this morning, I couldn't help but notice the New York Times column from David Brooks, who takes a potshot at conservative radio . . . Go
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Recovery?

Jobless claims increase again

Joe Biden keeps talking about the fabulous improvement on the economy he’s seen from the stimulus, but thus far, those effects have mostly been limited to the White House.  Initial jobless claims rose last week to 551,000, 17,000 more than the previous week and 12,000 more than analysts predicted.  Americans spent more last month, but that mainly came from the Cash for Clunkers program
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