Asian Conservatives

If Adam Smith, father of modern economics, were alive today in America, he’d have a heart attack. We are facing a national debt crisis that’s unprecedented in size and scope: $12.3 trillion (link warning: may cause sudden depression). Each citizen is responsible for about $40,000 of it. Well, we all know that most Americans do [...]

The federal government continues to spend more than it takes in and continues to implement policies that do nothing to create positive economic opportunities in the long term. For the month of July, the U.S. deficit grew by $181 billion! Because of the recession, tax revenues have significantly decreased from households as well as corporations. [...]

For the first time ever, the federal deficit has reached $1 trillion and could balloon to even more. The depressed economy means much lower tax revenues from families and corporations, add on to the fact that we’re still fighting a war in Afghanistan, plus a $700 billion in financial bailout and a $787 billion stimulus [...]

Our Treasury Secretary, not Secretary of State Clinton, is visiting China to calm Beijing’s nerves about the once-mighty U.S. dollar. As of first quarter China holds a record $768 billion of U.S. Treasuries, and the Chinese are very worried about Washington’s budget deficit and liberal monetary policy causing hyperinflation down the road. After responding to [...]

Poor President Obama, he’s still trying so hard to find the right person for the Health and Human Services secretary job and just settled on Kathleen Sebelius, but now the Associated Press has a letter about her paying $7,000 in back taxes for 2005-2007. Did she use TurboTax too? Or maybe sought tax advice from [...]

The Treasury Department announces FinancialStability.gov: a website dedicated to bringing transparency and clarity to the immensely complex problems in the financial system and the President’s plans to address them. If Geithner cannot explain it on TV, how can he explain it on a website? I’d rather all that money, time, and energy spent on creating [...]

An NYT op-ed calls it Obama’s “Katrina moment.” Not a good sign at all. As much as author Frank Rich gives readers a good run-down of the events leading to the current circus (with clowns Tim Geithner, Jay Leno, Edward Liddy, Chris Dodd, and President Obama himself), he ultimately shows his liberal side: As the [...]

Manny Aragon (D-NM) now is going to prison to serve a 67-month sentence for corruption. Don’t expect the mainstream media to jump on this. Especially the fact the he’s a Democrat. Oh well, if he had not been sentenced, maybe he could’ve gotten a position in Obama’s cabinet. I hear that Geithner needs some help… [...]

The fury over AIG executive bonuses is now snowballing towards the White House, Congress, and all those in between who’d voted for the stimulus bill. Apparently the infamous stimulus allowed for executive bonuses that so many are ticked off about. And the man who’s receiving most of the finger pointing? None other than Sen. Chris [...]

First, it was Rep. Connie Mack (R-FL). Now Rep. Derrell Issa (R-CA) also calling for the Treasury Secretary’s resignation: “As one of the chief architects of the AIG bailout, Secretary Geithner was in a position to do what any lender of the last resort would do – negotiate concessions from AIG. Secretary Geithner either didn’t [...]

Poor Timothy Geithner. The Treasury Secretary is working alone, day and night, in the fight to straighten out the economy. He has no deputy secretary, no under secretaries, and no deputy under secretaries. Annette Nazareth, the expected pick for deputy secretary, has withdrawn her name. So has Caroline Atkinson, Geithner’s choice for undersecretary for international [...]

President Obama demands passage of the stimulus package. Now he’s on the offensive, pointing fingers at Republicans for the “same old distractions.” The leftosphere (the left-leaning blogosphere) is falling in love with Obama all over again because of his partisanship: I will note that compared with the solid but lacking passion speech that the President [...]

How come nobody is talking about how ridiculously complicated and ineffective the U.S. tax code is in light of the tax troubles from Tom Daschle and Tim Geithner? Oh wait, Ken Hoagland is. If we had gotten rid of the IRS and implemented the FairTax, then Senators wouldn’t bother with vetting nominees on unpaid taxes [...]

Treasury Secretary-designate Tim Geithner is getting grilled by senators about his failure to pay taxes. He’s admitted his neglectful wrongdoing, and at the same time caused Intuit, the maker of popular TurboTax software, to come out on the defensive. Share and Enjoy:

Obama would like Timothy Geithner to be the next Treasury Secretary, but how can he be effective if he cannot explain his failure to pay taxes? He does realize that as Treasury Secretary, he’ll oversee the IRS? And we’re supposed to trust this gentleman to hold our hands through the global economic crisis? Share and [...]