Volcker: Stiff new tax needed to cover spending at 25% of GDP

Anne Leary posts on the defeat in the House of the first YouCut program selected by the public to be cut from the federal budget. A 2.4 billion dollar welfare program was selected for cutting but Democrats in Congress preferred to keep the program. As Paul Volcker, head of Obama's Economic Recovery Advisory Board, notes in this Naked Emperor clip spending is currently up to 25% of GDP. There is obviously little stomach in this Democratic Congress to cut spending leaving little alternative but the adoption of a "stiff new tax" to close the gap in spending. Volcker lists a few alternatives such as a carbon tax, energy tax and the dreaded VAT.

Related: The grass is not always greener in a green economy. "Spain admits that the green economy as sold to Obama is a disaster"

16 Lies in 7 Minutes

Via Breitbart TV 
Naked Emperor News offers a breakdown of the lies in the State of the Union speech.  The video is relatively short, but covers most of the flagrant lies and misrepresentations in the speech pretty effectively. Obama seems to have broken nearly every promise he made on the campaign trail.  Americans have come to expect a degree of this over the years.  These are politicians after all.   Obama had the audacity to hold himself out as different though.  A year into his presidency we find he is a politician, and not a very good one at that.

Some politicians are particularly adept at promising one thing, doing another and managing in the process, to get away with it. I imagine those politicians were never so bold as to make promises such as these:

I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal.

 Only a politician with a monstrous ego would make such ridiculous claims.  Obama would have been better off had he let such statements slide from the collective memories of the voters duped, albeit quite willingly, into believing them in the first place.  Instead, Obama sets out in his first State of the Union address to claim he never made them.  Sadly, this is only one of the 16 lies pointed out in the following video: