Preserving a piece of US Maritime History - invaluable

The USS Olympia is a cruiser that fought in the Spanish American War in 1898 and has been preserved in Philadelphia. She's a one of a kind ship, a national historic monument, and in danger. She needs approximately $10-15 million in repairs to keep her a viable museum for years to come. If you have the resources, or connections to those resources, please consider helping. (full disclosure - there is no financial benefit to me to ask the question - we need to save this ship for posterity). Please contact me at 612-599-1935 or if you have additional questions.


Saturday, April 16, 2011

Automatic Tax Increase - from Powerline

Automatic Tax Increase?
April 15, 2011 Posted by John at 9:55 PM
We and many others have criticized President Obama's speech on the budget, but one aspect of his proposal on which I haven't seen much commentary is the "debt failsafe trigger." You might think that a "debt failsafe trigger" is a mechanism to constrain spending if debt exceeds a certain level; but Dan Mitchell explains:
[T]he most disturbing feature [of Obama's proposal] may be a provision that punishes the American people with higher taxes if politicians overspend.
Called a "debt failsafe trigger," Obama's scheme would automatically raise taxes if politicians spend too much. According to the talking points distributed by the White House, the automatic tax increase would take effect "if, by 2014, the projected ratio of debt-to-GDP is not stabilized and declining toward the end of the decade."
Let's ponder what this means. If politicians in Washington spend too much and cause more red ink, which happens on a routine basis, Obama wants a provision that automatically would raise taxes on the American people.
This would verge on the unbelievable in any administration other than the present one.

1 comment:

  1. Folks - this is outrageous in a series of outrageousness coming out of the Obama adminstration.

    This 'blog' is about US Navy issues. I've tried to keep it away from political things as that is covered well elsewhere. I've taken exception here because this is nothing but an open ended oportunity to not be responsible with spending in Washington. What a crock.

    Obama needs to be a one term wonder.