Real estate magnate Donald Trump’s likely candidacy for President in 2012 surfaced last September with an anonymous telephone poll of voters in New Hampshire. Denying any involvement in the poll, Trump claimed, “I never heard of this poll but I’m anxious to find out what it says.” He obviously found out what it said about his chances, and, in October, began tip-toeing into the presidential race. On CNN’s American Morning, he commented that running for President is “not something I talked about or considered, but somebody has to do something or this country is not going to be a great country for long.”
Now that Rep. Paul Ryan (R-Wis.) has unveiled his “Path to Prosperity” budget, nearly all discussion is focusing on the details and not on the proper role of government. Writing in the Wall Street Journal on Sunday, Ryan said that "our budget ... cuts $6.2 trillion in spending from the president’s budget over the next 10 years, reduces the debt as a percentage of the economy, and puts the nation on a path to actually pay off our national debt." He also said that it "brings federal spending to below 20% of gross domestic product, consistent with the postwar average, and reduces deficits by $4.4 trillion."
The Cato Institute’s just-announced ad campaign in major newspapers around the country asks rhetorically, “This is leadership?” and then neatly summarizes numerous areas where major budget cuts could be made. The ad questions the debate currently taking place over almost invisible cuts to the federal budget: “The House Republican leadership has proposed $61 billion in spending cuts — but that’s less than 4% of this year’s massive $1.65 trillion federal deficit.” And the Democrats have managed to squeeze out an even more modest proposal of a mere $10 billion.
Mark Meckler, co-founder of the Tea Party Patriots, is the organizer behind Thursday’s “Continuing Revolution” rally at the Capitol, and said that:
When the internationalist-minded Council on Foreign Relations (CFR) decided it was time to take a hard look at the growing influence of the Tea Party movement in America, it selected “one of the country’s leading students of American foreign policy,” Walter Russell Mead, to do the study. Appearing as the headline article in Foreign Affairs for March/April 2011, his article is entitled “The Tea Party and American Foreign Policy.”
Junius Morgan was, at best, a third-tier English banker in the 1850s, who was fortunate to have had a hand in a number of lucrative financings, mostly for industries seeking seasonal financing. His conservative nature was partly a cause of his lack of distinction. He’d inherited a substantial sum when his father died and was exceedingly careful when risking any part of it. One of the maxims Junius instilled into his son, John Pierpont Morgan (shown at left), was, “Never under any circumstances do an action which could be called into question if known to the world.”
As political commentator for the Concerned Women for American's Legislative Action Committee and former speechwriter for former President George H. W. Bush, Janice Shaw Crouse celebrated Ronald Reagan's 100th birthday with a paean of praise for the former President's skills as "The Great Communicator" which perfectly illustrates the perception of Reagan as a good conservative, at least when he spoke.
When Matthew Josephson wrote The Robber Barons in 1934, he tipped his hand as to his personal prejudice against the capitalists of the late 19th century:
Free markets, in the full sense of the phrase, exist only in the minds and imaginations of free-market economists from the Austrian School, such as Ludwig von Mises and Murray Rothbard.
After 131 years, it appears that Eastman Kodak will be declaring Chapter 11 bankruptcy before the end of the month, according to the Wall Street Journal. It is currently seeking to sell off some of its 10,000 patents in order to stave off the inevitable, but the company is burning through its remaining cash reserves and credit lines rapidly. The last time Kodak was profitable was 2007 when its stock traded at $30 a share. On Friday, its last trade was at $0.37 a share. It’s in the process of being de-listed from the New York Stock Exchange, and Moody’s has downgraded the company’s credit to junk status.