Bad News Time

The amount of money the U.S. Government has promised to pay out in Medicare and Social Security benefits in the future that it has no plan to pay for, that is, unfunded liabilities, $75 Trillion.

The price of oil per barrel today, $55.30

The price of oil very soon, $65.00

The price of a gallon of unleaded gasoline very soon, $4.00.

Democrats ignoring these problems and saying that George W. Bush hates the elderly.....shameful.

More Unfunded Liabilities

Exciting news today from the trustees of Medicare and Social Security. These two accounts now have unfunded liabilities totally about $75 Trillion. That's pretty good, it's almost doubled since last year's estimates. I'm not sure what world GDP is, but I'm pretty sure it's not quite $75 Trillion. I'll have to do some checking. The hyperinflation scenario that now looms over our heads is going utterly destroy the U.S. Economy if we do not do something about it soon. Increasing taxes to pay for these massive promises simply won't work. That course of action, too, would crush the economy. The only solution is modifying the promise. Who will be bold enough to do this? My guess is nobody. Alas.

Thugs in Robes

There has been much clamor in recent weeks and months within the conservative movement over "judicial activism," the new red meat issue for ideological conservatives. Taxes, abortion, prayer in school, and all sorts of other issues have been lightning rods on the right for years, and now it seems that the law-trained elite (as Scalia calls them) who occupy our judgeships across the country are the focal point of conservative venom. I cannot think of a more appropriate object of such venom; it's just long overdue. American opposition to judicial activism should have started during the Marshall Court about two hundred years ago. But we let it fester, and now we have such ivory tower ignoramuses as Anthony Kennedy lecturing us about International Law and the Civilized Europeans. If I wanted to live under a European system, I would emigrate. If all Americans wanted to live under a European system, we would change the Constitution. But instead it is being forced upon us by the likes of Anthony Kennedy, Ruth Bader Ginsburg, John Paul Stevens, Stephen Breyer, David Souter, and sometimes Sandra Day O'Connor. It is almost a shock that the Court has not ordered the dissolution of Congress and the Presidency, since the Court now has decided both the make laws and make treaties. A few months ago, I was a little annoyed with the Courts, but after Roper v. Simmons, I am infuriated.

And now, the Thugs in Robes who have refused to allow the death penalty for cold blooded murderers who brutally tortured their victims if only they are under the age of 18, yes, the Thugs have ordered the death penalty for an innocent woman who suffered brain damage under mysterious circumstances, and whose husband wants her dead so he can collect his million bucks. This is worse than hypocrisy, it is depravity.

Easter Sunday

Now when the Sabbath was past, Mary Magdalene, Mary the mother of James, and Salome bought spices, that they might come and anoint Him. Very early in the morning, on the first day of the week, they came to the tomb when the sun had risen. And they said among themselves, "Who will roll away the stone from the door of the tomb for us?" But when they looked up, they saw that the stone had been rolled away--for it was very large. And entering the tomb, they saw a young man clothed in a long white robe sitting on the right side; and they were alarmed. But he said to them, "Do not be alarmed. You seek Jesus of Nazareth, who was crucified. He is risen! He is not here. See the place where they laid Him. But go, tell His disciples--and Peter--that He is going before you into Galilee; there you will see Him, as He said to you." So they went out quickly and fled from the tomb, for they trembled and were amazed. And they said nothing to anyone, for they were afraid.

Mark 16:1-8

Christ the Lord is risen today, Alleluia!
Sons of men and angels say, Alleluia!
Raise your joys and triumphs high, Alleluia!
Sing, ye heavens, and earth, reply, Alleluia!

Love's redeeming work is done, Alleluia!
Fought the fight, the battle won, Alleluia!
Lo! the Sun's eclipse is over, Alleluia!
Lo! He sets in blood no more, Alleluia!

Vain the stone, the watch, the seal, Alleluia!
Christ has burst the gates of hell, Alleluia!
Death in vain forbids His rise, Alleluia!
Christ hath opened paradise, Alleluia!

Lives again our glorious King, Alleluia!
Where, O death, is now thy sting? Alleluia!
Once He died our souls to save, Alleluia!
Where thy victory, O grave? Alleluia!

--Charles Wesley

Another Liar, Another Cheat in Washington

Politicians breaking campaign pledges is a time-honored tradition in this and every country, at least those countries fortunate enough to be able to elect their own leaders. Perhaps soon every country will be able to enjoy the pleasures of broken campaign promises.

According to an article by Charles Hurt in The Washington Times today, freshman U.S. Senator Ken Salazar of Colorado has reversed his campaign promise to give judicial nominees an up or down vote. When asked about the issue, Cody Wertz, Salazar's spokesman, said "Senator Salazar has made no decision on any judge," and that Salazar had made no such pledge. When confronted with the evidence, Wertz said "I'm not sure how that question was phrased." What a horrible spinmeister. If I were Salazar, I would send Cody Wertz packing. The best he could come up with was "I'm not sure how that question was phrased." Pathetic.

Well, this is a lesson to Red States who will be voting in the '06 election for a United States Senator. If the candidate has a "D" by his name, he will say anything to get elected, take conservative or moderate positions, and then promptly go to D.C. where Harry Reid, Ted Kennedy, and Hillary Clinton will have another lackey in their pockets to order around. You really aren't voting for the person anymore, you're voting for the party, and the Democrats are going to continue playing the same obstructionist games that they have played during the entirety of the Bush Administration.

Tribute to a Great Man and Great Friend

On Saturday, March 19, Dr. Fay Boozman was killed in an unfortunate accident on his farm in Rogers, Arkansas. Fay, or "Bud," as he was known by family and close friends, dedicated his life to the service of the Lord and his fellow man. He was an excellent physician, passionate public servant, and the one of the most dedicated family men I have ever known. For the past five years, he served as the Director of the Arkansas Department of Health, and he had previously been a State Senator here in Arkansas. I remember the first day I met him, back in 1997. It was the day that the Partial Birth Abortion Ban passed the Arkansas Senate; he was the bill's primary sponsor. Over the years, as I got to know him better, I came to admire and respect him very deeply. He was a role model, in the truest sense of the term, and now in his tragic death, his life serves as a testimony to truth that a man can enter politics and not lose his soul. He loved the Lord with all of his heart, mind, and soul, and he loved his neighbor as himself. He truly exhibited the fruit of the spirit: love, joy, peace, longsuffering, kindness, goodness, faithfulness, gentleness, and self control. Thank you, Fay, for the impact you have had on my life. You will be sorely missed.

The Medicare Crisis

Social Security needs reform. I commented yesterday on the real reason for this. But today I want to discuss an even worse crisis that looms on the horizon. Currently, there is a $45 Trillion balance of unfunded liabilities in the United States. That means that the U.S. Government has promised, at some time in the future, to pay out $45 Trillion that it will not have the money to pay out. That is $45,000,000,000,000. That's approximately $155,000 for every man, woman, and child in the United States today. In other words, the U.S. Government plans to add $45 Trillion to the $7 Trillion or so it already owes. About $30 Trillion of that is in the Medicare account alone. That number will only rise as new benefits (like the recently added prescription drug benefit) are added. And it is almost guaranteed that such benefits will increase in the next twenty years, since the 60+ crowd makes up the largest portion of the electorate already, and the number of people in that group is set to rapidly expand as the baby-boomers continue to age. They will vote themselves increasing amounts of money from the pockets of the decreasing pool of working-age citizens, and so the unfunded liabilities account is likely to skyrocket. This can be stopped, however. If Congress acts now to cut the annual increases in medicare benefits by only half, we can shave off $15 Trillion from that sum. That is not a cut in benefits, it is only slowing the increase in individuals' benefits. Failing to take action now will lead to dire economic consequences in the future.

Social Security

The Social Security reformers are making a blunder of incalculable magnitude. The real problem with Social Security is not that it will go bankrupt in 2042. The crisis of Social Security reform is 2011, the year that the babyboomers start retiring. When they do, they will begin withdrawing money from their 401(k) accounts and IRAs. The massive amount of capital flowing out of the stock and bond markets, if not replaced by a massive influx of new capital, will cause a steady, strong, and irreversible decline in U.S. equity markets. Partial privatization of Social Security will provide that new influx of capital. Nothing else likely will.