ObamaItem: In his State of the Union Address, reported the Washington Post for January 26, President Obama “for the first time” did not “hail a newly passed ‘recovery act’ or call for a ‘new jobs bill.’ Instead, he called for a five-year freeze in domestic spending, except for ‘investments’ in education, infrastructure and research.”

During his 1992 presidential campaign, Texan Ross Perot was maligned for his warning that the North American Free Trade Agreement (NAFTA) would cause many American jobs to be outsourced. But it turns out he was right about that “giant sucking sound.” NAFTA went into effect January 1, 1994, and the resultant suction of American jobs to points south — and ultimately west — has seemed almost audible.

In a clear case of having more dollars than sense, America Online (AOL) is undertaking its least palatable acquisition to date: Arianna Huffington’s amalgam of left-wing screeds, The Huffington Post. Ironically, what some might view as a website with a less than favorable view of capitalism went for a king’s ransom of $315 million.

According to a press release for February 2, Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul has announced the first subcommittee hearing for the 112th Congress to take place on Wednesday, February 9 and will focus on the consequences of the Federal Reserve’s policies on job creation.In his statement, Subcommittee Chairman Paul announced:

With the value of the U.S. dollar exponentially declining since the establishment of the Federal Reserve Bank in 1913, it comes as no surprise that many world leaders and international economists have expressed their desire for a new world reserve currency. In light of the global financial crisis, Russia may be moving toward a sound economic solution — gold.