Morning Briefing: January 3rd, 2013


By Steve Deace

Demographic Reversal

The United States is undergoing its slowest population growth since the Great Depression, and that has prompted analysis from various sectors of the culture trying to figure out why. Economists are citing the fact the birth rate and immigration both slowed following the 2007-09 recession as evidence the flailing economy is the biggest reason. But here’s a competing theory: it makes sense to see the growth of our population decrease when we’ve killed 56 million babies, or about the combined populations of Texas and California.

Americans Growing More Pessimistic

A new Gallup Poll finds that about half of Americans believe the country’s best days are behind us, including 55% of Independents and a whopping 76% of Republicans. Furthermore, 65% of the country expects 2013 to be a year of “great financial difficulty”  and 57% predict American power will decrease globally this year. So much for that whole hope and change thing.

Grisly Details

We’re learning more and more about the McConnell-Biden Fiscal Cliff Tax Increase after they passed it, and it’s not exactly producing a warm fuzzy. Not only did the Republican Party violate its own pledges not to raise taxes and to cut government spending by $1.2 trillion, but it turns out the GOP also violated its pledge to have all bills posted and debated publicly for three days before voting on them. It turns out they had the bill for just minutes before voting on it. Not to be outdone, remember when President Obama promised the same transparency four years ago? And if Obama and the Democrats want to level the playing field with Corporate America so much, why are they signing off on $76 million in tax credits for General Electric, Hollywood filmmakers, and even Captain Morgan. Did I mention that algae subsidies were part of this allegedly “crisis” legislation? That could be one of the reasons why the Wall Street Journal describes this dog with fleas as a “crony capitalist blowout.” There’s $62 million for American Samoa and Starkiss Tuna. There’s $78 million for the Michigan International Speedway. Hollywood may claim to hate corporatism, but I doubt it will reject its $430 million tax credit coming its way. How about that $222 million tax rebate for rum distillers? These are just some of the reasons why the bill spends $41 of your money for every $1 of revenue it brings in, and the Congressional Budget Office estimates could add $4 trillion more to the national debt. Republicans in Washington that voted for this ought to be ashamed of themselves, impeached, or both.

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