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Daily Archives: February 6, 2013, 9:55 pm

Obama Schedule || Thursday, February 7, 2012

8:05 am || Attends the National Prayer Breakfast; Washington Hilton; Live stream will be available
11:15 am || Departs White House
11:40 am || Arrives Leesburg, Virginia
12:30 pm || Delivers remarks at House Democratic Issues Conference; Lansdowne Resort, Lanndowne, Virginia
1:55 pm || Departs Leesburg
2:20 pm || Arrives White House

All times Eastern except as noted
Carney will brief off-camera at 10:00 am

Obama Allies Refuse to Recognize Ronald Reagan Day

Two of President Obama’s closest allies, Massachusetts Gov. Deval Patrick and Hawaii Gov. Neil Abercrombie, are among eight Democratic governors refusing to recognize today, February 6, as “Ronald Reagan Day” in their states, according to the Washington Examiner.

Two other Democratic governors can’t make up their mind whether to issue a proclamation making Reagan’s 102nd birthday a day honoring the Gipper.

Patrick is a personal friend of Obama’s who campaigned for him and was considered a possible contender for attorney general if Eric Holder had stepped down. Abercrombie is viewed as something of a mentor to the president, with whom he goes back, well, forever. He was friendly with Obama’s parents.

The other Democratic governors refusing to honor Reagan are Arkansas Gov. Mike Beebe, Delaware Gov. Jack Markell, Kentucky Gov. Steve Beshear, Minnesota Gov. Mark Dayton, Oregon Gov. John Kitzhaber and Vermont Gov. Peter Shumlin. Connecticut Gov. Dannel Malloy and Washington Gov. Jay Inslee are on the fence.

All Republican and many Democratic governors agreed to the proclamation, including New York Gov. Andrew Cuomo and California Gov. Jerry Brown.

That’s okay about Patrick and Abercrombie and the rest of the petty crew. Reagan would have known how to deal with them.

Happy birthday, Mr. President.

Seven Million to be Thrown Off Employer Health Plans

Remember when Obama promised that under his health scheme you could keep your health insurance and your doctor?

Well forget it. You can’t necessarily keep your insurance or your doctor. Period.

The Congressional Budget Office now says that, because of Obamacare, 7 million people will lose their employer-provided health insurance and have to go get coverage on their own.

Obama wasn’t just wrong. He was wrong by 7 million people.

This isn’t just some flukey thing that popped up. It’s intrinsic to the health care law: employers can either keep offering insurance or take a penalty and dump their employees into the individual market.

And yet Obama repeated this claim again and again as he tried to sell Obamacare to the public. Unless he didn’t understand his own proposal, he almost certainly had to know it was false.

Asked about the discrepancy today between Obama’s words and deeds, White House Press Secretary Jay Carney understandably immediately changed the subject. Because, Carney is paid enough to defend the indefensible, but he’d probably ask for a raise before agreeing to defend the completely indefensible.

Is S&P Getting the Chicago Treatment?

That’s what the Wall Street Journal wants to know. And me too.

As you may be aware, the Justice Department is suing Standard & Poor’s to the tune of $5 billion for giving all those nice ratings to banks’ subprime mortgage-backed securities even while the market began to fall apart – as homeowners figured out they should have rented, bought cheaper homes, or moved in with their parents.

I have no issue with, at the very least, an investigation of these ratings agencies, which profited handsomely from their incestuous relationships from the very banks they were rating.

My problem is not that the government is suing S&P. My problem is that it is not suing Moody’s and Fitch.

Because you see, happens that, of the three credit rating agencies, ONLY S&P INJECTED A NOTE OF HONESTY INTO GOVERNMENT ACCOUNTING by downgrading the federal government’s credit rating last year.

The Journal writes:

So why wasn’t a federal case made in 2008 or 2009 or 2010 or 2011 or 2012? . . .

S&P’s attorney Floyd Abrams tells us that “things seemed to rev up in terms of the intensity” of the federal investigation after S&P’s historic downgrade of United States credit following Washington’s debt-limit fight in 2011.

Meanwhile, a McClatchy Newspapers MNI -2.01% report says that it was around that time that Moody’s, which did not downgrade the government, was dropped from the federal investigation. Ask any investor and he’ll likely tell you that Moody’s was equally awful in forecasting the mortgage debacle.

Is this payback? Could it be? The Obama administration?

At the very least, with S&P in the sights of a $5 billion federal pistol, are they or any other credit agencies going to issue new downgrades of the government? I sure doubt it.

The Obama Morning News || February 6, 2013

Obama to visit Israel within weeks . . . Times of Israel
Obama to renew full-court press on Israel . . . Power Line
White House weighs emissions rules
. . . Wall Street Journal
Deficit declines, but debt still rising fast . . . Wall Street Journal
Obama praises hate-spewing activist . . . Daily Caller
Obama crony gets government contract . . . Washington Times
Cantor becomes a Dreamer . . . Washington Times