**Written by Doug Powers Billionaire Obama supporter Warren Buffett weighed in about deficit reduction with a hypothetical plan: “I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.” I like it, Mr. Buffett, but you might have more than a little trouble getting both chambers of Congress to pass a law that castrates their power and would ultimately send them looking for private sector work in this economy. Buffett also added : “We will pay our debts in the end,” Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., said in a Bloomberg Television interview on “In the Loop” with Betty Liu from an Allen & Co. sponsored conference in Sun Valley, Idaho. “Our credit is good. It’s not like if we don’t pay we can’t pay. We have the right to print our own money. The U.S. is a very special place.” We also have the right to drive rusty nails into our necks, but that doesn’t make it a good idea. (h/t The Big Picture by way of My Investing Notebook ) **Written by Doug Powers Twitter @ThePowersThatBe
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Warren Buffett: I Could End the Deficit in 5 Minutes
With the announcement that Michigan Rep. Thaddeus McCotter will enter the 2012 Republican presidential field today, you may be asking yourself: Who? As a native of Michigan, I’m familiar with the conservative congressman. But if you’re like 95% of Americans and have never heard of him, let’s take a moment to get acquainted with McCotter’s infamously wry sense of humor: On his shiny new campaign website , McCotter encourages voters to “seize freedom!” and lays out five “core principles” which he says drive his decision-making: 1. Our liberty is from God not the government 2. Our sovereignty is in our souls not the soil 3. Our security is from strength not surrender 4. Our prosperity is from the private sector not the public sector 5. Our truths are self-evident not relative
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Learn how to speak ‘Democrat’ — with Thaddeus McCotter
AFP – US President Barack Obama on Saturday called for the private sector to create more jobs, but underlined the government’s role in promoting professional education.
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Obama calls on private sector to create jobs
(AFP)
Via Rob Long @ Ricochet : The lowest line is private sector job growth. The line just above it is general job growth in the federal government. But that fat red line at the top is job growth at federal regulatory agencies. That’s a perfect illustration of Barack Obama’s world outlook. The economy is faltering. Growth is slowing. Jobs are scarce. But it will all be supervised. Oh yes. We will make certain — even if it bankrupts us — that the federal regulatory machine is well-funded and staffed.
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Everything that’s wrong with the Obama administration in one chart
AFP – President Barack Obama Tuesday picked businessman John Bryson to serve as commerce secretary, seeking to further soothe testy ties with the US private sector and spark export-led jobs growth.
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Obama picks business chief as commerce secretary
(AFP)
