I have to tell you that there is a humorous irony with President Obama’s pronouncement that companies that want a government subsidy courtesy of the egregious and ill-advised $700 billion TARP bail out (and presumably companies who choose to feed at the taxpayer trough if/when Obama’s latest boondoggle "stimulus" package is signed) will have to limit the compensation of their top execs to 500k annually.

For those of us that oppose the bailouts, past, present and future — this is delicious. As far as I am concerned, the more disincentives we can provide for private companies to accept bail-outs the better.

To those who supported the taxpayer bailout of Wall Street, some good friends of the FR, well I suppose you think Obama’s decree is outrageous, because you think it is okay for private companies to get taxpayer subsidies.

Here is the problem. Normally, I shouldn’t CARE about what the CEO of Citibank makes. That should be a private matter — I guess if I were a stockholder, I might have some interest. But not really as long as my dividends are high.

But now we all have to care, because we… Read More

Much is discussed about Michael Steele’s remarkable election as chair to the RNC. Already Republicans note his unswerving conservative views on the Chris Wallace FOX show last Sunday night. His election has electrified a rather lethargic and angst ridden political party. Last evening I accepted Steele’s invitation to join his 10 person Transition Team. We are meeting this week in DC.

The opportunities for conservatives… Read More

There are dozens of speeches still posted on Barack Obama’s campaign website that the President delivered over the last several years, beginning with his statement opposing the Iraq War in 2002 and concluding with his Election Night victory address this past November. One entry that has received less attention was a floor speech from his first few months in the U.S. Senate, when Obama warned his new colleagues about how their constituents were becoming increasingly unhappy by the overly partisan behavior they saw in Washington.

"What they don’t expect is for one party – be it Republican or Democrat – to change the rules in the middle of the game so that they can make all the decisions while the other party is told to sit down and keep quiet." said the new Senator. ".we need to rise above an ‘ends justify the means’ mentality because we’re here to answer to the people – all of the people – not just the ones wearing our party label."

The circumstances under which Obama leveled his warning were historic. Senate Republicans, who then controlled that chamber, had become increasingly frustrated… Read More

Many of you wrote me last week knowing that I oppose the big spending plan as presented, and want to know what I am for. Well, what I am for is somewhat unique. There are basically 3 forms of stimulus being discussed:

Keynesian spending: This comes from the economic theories espoused by Englishman John Maynard Keynes in the early 20th century who believed that government spending would stimulate economic growth when the private sector doesn’t have enough to spend. The Democratic $819 billion "stimulus bill." is 90% Keynesian. Supply side tax cuts: This follows the Laffer curve theory by San Diego economist Art Laffer that cutting taxes and leaving more money in private hands will have a greater multiplier effect and be more stimulative. The Republican alternative is 100% supply side tax cuts. … Read More

I introduced the following resolution to be considered at the upcoming California Republican Party Convention — and it is my full expectation that it will end up being withdrawn because I believe that our Republicans in the Capitol will hold the line against all of the liberals and special interest groups that want them to cave in, to punish taxpayers, and raise taxes by BILLIONS of dollars.

The political damage to the brand-name of Republican, if our party is associated with a massive tax increase in response to a massive over-spending created financial shortfall, would be horrific. A GOP supported tax hike could very well be a precursor to a 2010 election cycle where Democrats take 2/3rd majorities in both chambers. You have to look at that scenario if the GOP can no longer make the case that we will oppose new taxes… Especially since virtually every Republican running for election or re-election in 2010 have signed a pledge to vote against new taxes, and to oppose efforts to raise taxes.

In just one day, I have already heard from almost 200 state central… Read More

I introduced the following resolution to be considered at the upcoming California Republican Party Convention — and it is my full expectation that it will end up being withdrawn because I believe that our Republicans in the Capitol will hold the line against all of the liberals and special interest groups that want them to cave in, to punish taxpayers, and raise taxes by BILLIONS of dollars.

The political damage to the brand-name of Republican, if our party is associated with a massive tax increase in response to a massive over-spending created financial shortfall, would be horrific. A GOP supported tax hike could very well be a precursor to a 2010 election cycle where Democrats take 2/3rd majorities in both chambers. You have to look at that scenario if the GOP can no longer make the case that we will oppose new taxes… Especially since virtually every Republican running for election or re-election in 2010 have signed a pledge to vote against new taxes, and to oppose efforts to raise taxes. In just one day, I have already… Read More

The California State Lottery Commission approved a $185 million design contract for a new building. $185 million. The Legislature has already approved going asking voters to chnage management of the Lottery.

Why do we need this huge new building now. The cost per office is aorund a half a million pieces. I just put in Legislation to stop the contract and divert the money to education.

The money saved will be diverted to help our public schools.

During this budget crisis, the last thing we should be doing is wasting money and time on a building we don’t need.

How can we justify this spending, while schools are sending layoff notices to our teachers? Children in classrooms need the money more than the lottery bureaucrats need a new building.

Taxpayers should feel insulted when they pick up the newspaper in the morning and read stories about stuff like this.

It’s unconscionable and this bill will stop it.… Read More

For 2008, former eBay CEO and ersatz Governor Meg Whitman made $634,400 in political contributions reportable to the Fair Political Practices Commission, according to the form she will file today (h/t to her team for sending us a copy).

Who were the recipients of her generosity?

$170,000 to the California Republican Party $250,000 to No on 5 $200,000 to Yes on 11 $3,600 to Tony Strickland for Senate $3,600 to Danny Gilmore for Assembly $3,600 to Jack Sieglock for Assembly … Read More