What a night it was in electoral politics. The best result of the night was Kendrick Meek winning the Democratic senatorial primary in Florida. Meek winning the Democratic nod will keep lots of Democrats in Florida on the reservation. If his opponent Jeff Greene had won, many of the hard core left would have abandoned the party and voted for Charlie Crist. Crist would have been the next most dependable vote for liberals. Greene is a wild card and not to be trusted by the professional left. The win for Meek sets up a three-way race between the conservative Republican Marco Rubio, the flip-flopping independent Charlie Crist, and the questionable ethics of Kendrick Meek. This should be some race.
In other Florida electoral news, Rick Scott defeated Bill McCollum in the race for the GOP governor’s nomination. Both men are staunch opponents of Obamacare. Scott will surely be an asset in the governor’s mansion next year. John McCain will continue his long record of success in Arizona as the GOP nominee for the Senate. This wasn’t so much a surprise as it was a disappointment. J.D. Hayworth wasn’t a great candidate. Arizonans could have done better than both men if they had prodded Congressman Jeff Flake to run for the seat.
In Alaska I received a surprise last night. After telling you yesterday that Sen. Lisa Murkowski would walk through the primary untouched, it turns out she may have lost. I am not sorry to eat crow in this case though because her opponent, Joe Miller is a strong conservative, endorsed by Sarah Palin, who has signed the “Contract from America,” pledge. The votes haven’t all been counted, and it’s very close.
Commentary by Dick Young on Boehner to Obama: Fire all Economic Advisers by Julie Borowski, FreedomWorks.org
The President’s economic “stimulus” program has obviously failed. The president’s economic team (before Christina Romer and Peter Orszag decided to leave) had a collective experience of 3.5 year in the private sector. Most of those years were supplied by Orszag. House Minority Leader, John Boehner, has called for the president to clean house and fire his economic team. It’s a great idea. The group of academics inhabiting the White House corridors has no idea what is happening to small business owners and employees in America today.
Commentary by Dick Young on Fed to Savers: Drop Dead by James P. Gannon, The American Spectator
Mr. Gannon’s savings story is unfortunately not unique. Retired investors, and those saving for retirement, are being robbed by the Federal Reserve. With interest rates in many cases lower than inflation, savers are losing money in real terms. The Fed is keeping rates low to subsidize banks. This is really fighting the last war. Banks have been recapitalized and have loads of money on their balance sheets. A steep yield curve is generally a sign of a growing economy, but when the short maturity end of the curve is buried somewhere near or below 0%, distortions are bound to occur. This won’t end well for many savers for sure.
Commentary by E.J. Smith on Cleaning Up the Mortgage Mess by Darrell Issa and Jim Jordan, The Wall Street Journal
Obama’s Home Affordable Modification Program (HAMP) promised to help 3-4 million homeowners avoid foreclosure with loan modifications. To date, only half-a-million have received HAMP assistance and, according to Fitch Ratings, three-quarters of them, failing to make the reduced payment, will redefault. Once again the Obama administration throws good taxpayer money after bad. Rather than focus on underwater borrowers maybe the Obama administration should focus on real financial reform by not propping up the two-headed monster of Fannie Mae and Freddie Mac.
Commentary by The Editors on Congresswoman Michele Bachmann Joines 8/27 Event by Nan Swift, FreedomWorks.org
The always enthusiastic and enjoyable Congresswoman Michele Bachmann will be participating in the FreedomWorks Take America Back Convention on August 27th. If you plan on being in D.C. that day, check it out.
Commentary by Dick Young on Repeal Obamacare? Get Your Congressman on the Record by Newt Gingrich, Human Events
Obamacare was loaded with bad news provisions that will hurt America, like a regulatory structure that actually DISCOURAGES employers from providing insurance to their employees. Get the facts from your congressmen and put him on record as a supporter of repeal.
Commentary by Dick Young on Putting the Brakes on ObamaCare by Grace-Marie Turner, The Wall Street Journal
Remember the golden rule, “He who has the gold, makes the rules.” If the GOP is successful in taking the Congress in November, there is no way it will gain enough seats to override a presidential veto. It is also doubtful that many Democrats will see the errors of Obamacare and work with the GOP to repeal. But there are other strategies to eliminate the effects of the bill. Chief among those is defunding the bill. Congress controls the money in Washington and can fund or defund anything it wants. Such a strategy could work against Obamacare.
Commentary by Dick Young on Kentucky: Freedom ~ Liberty Conference by Tabitha Hale, FreedomWorks.org
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