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From the Cato Institute:

There is plenty of disagreement on whether a big-government stimulus project is the best way to bring the United States out of recession. The Cato Institute purchased a full-page ad in major newspapers across the country listing the names of several hundred economists who object to massive deficit spending as an economic stimulus. Cato scholars and ad signatories have made their case on television since the spending program was proposed.

See Cato's Fiscal Reality Central.

 

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The Democrats have adopted the behavior of George Bush with the Big Spending/Corporate Welfare Bill being rushed through congress. George W. Bush used 911 to increase executive power and to immensely increase the size government. Now Barack Obama is using the same tactics with the financial crisis. I at one time had hope for Obama. Boy was I wrong.

George W. Bush made the same mistakes as Herbert Hoover, and Obama is making the same mistakes as Roosevelt. During Obama's speech last night he clearly believes that Rooselvelt's New Deal worked. Nothing could be further from the truth.

The Myth of the Laissez-Faire Bush Years
By Anthony Gregory

One of the most pernicious misconceptions of our time is that the Bush administration represented an era of free-market capitalism. By wrongly blaming the financial crisis and economic woes associated with Bush on his alleged devotion to laissez-faire, many in the mainstream press, academia and political life are misdiagnosing the problem and prescribing the wrong solution: More government, which will in reality only make things worse.

Read the full article...

Published on FreedomWorks.org:

By: Matt Kibbe

When you get beyond the rhetoric of change, it is astonishing how close President Barack Obama is following his predecessor in economic policy. Just as George W. Bush attempted to jump-start the economy with a jolt of hundreds of billions of dollars, Obama is doubling down on the bailout bets. In the Troubled Assets Relief Program process, the legislative branch is authorizing nearly a trillion dollars in spending.

But isn’t this backward? Doesn’t Congress have the sole power to authorize executive branch spending, and the president, the power to veto congressional spending authorizations?

Read the full article...

From Donny Ferguson's Blog: 2008 Libertarian vice-presidential candidate Wayne Root discusses job growth, economic recovery and Obama's government expansion plan with Neil Cavuto.

"The government is bailing out the banks...but who's going to bail out the government?" asks Texas cotton farmer Ken Gallaway, a vocal critic of agricultural subsidies that cost U.S. taxpayers and consumers billions of dollars a year in direct payments and higher prices for farm goods.

Agricultural subsidies were put in place in the 1930s during the Great Depression, when 25 percent of Americans lived on farms. At the time, Secretary of Agriculture Henry Wallace called them "a temporary solution to deal with an emergency." Those programs are still in place today, even though less than 1 percent of Americans currently live on farms that are larger, more efficient, and more productive than ever before.

Read more ...

Visit the website of the National Taxpayer's Union to send a message to your representatives to reject the massive stimulus spending spree.

NTU also has a Fight the Stimulus tool box available to you.

Recently a reporter contacted me to ask what President Obama's top priorities should be. I, being lazy and not having time to answer myself, passed the question on to several NJ Libertarian activists. Below is a sample of the responses I received:

NEPTUNE — The one-year ban on the use of eminent domain on most properties in the township approved Monday by the Township Committee may be extended to a permanent ban by spring.

Committeeman Randy Bishop asked that an ordinance banning abuse of the practice be discussed at the next committee meeting, set for Jan. 26. Bishop has tried to get the ordinance approved for the past two years, but could not get the necessary three votes.

Read more...

Looking back at 2008 the NJ Libertarian Party had many notable achievements.

See our newsletters and our website for more of our accomplishments in 2008.

We could not have accomplished this work without the help of our many donors, members, and volunteers. If you are not already a member, please consider joining the party as a member. Your membership will help us to continue the fight for freedom in New Jersey.

One of the privileges of being Chair for the NJLP over the past year has been the opportunity to meet and become friends with some very interesting individuals. Not only was I in the middle of New Jersey Libertarian politics with the Jason Scheurer for U.S. Senate campaign , but I also became very involved at the national level with the Bob Barr and Wayne Allyn Root campaign. I wish to share one message I received from Wayne (see The Road Ahead), because it mirrors my view on the 2008 election.

Today the NJ Health and Senior Services Committee voted to move S119 out of committee. The vote was 6 to 1 (there were two abstentions). The bill now moves to a vote before the state Senate. There was overwhelming testimony from many patients who described how marijuana has helped them. You can listen to the testimony below. Testimony for S119 starts about 1/4 of the way in (37 minutes).

US Senator Frank Lautenberg sure loves his Ponzi schemes.

It is being reported that he is among the victims of a Ponzi Scheme, having invested $14 million of his families charitable foundation with the Bernard L. Madoff Investment Securities LLC. Madoff was arrested Thursday in a scheme to bilk investors. Maldoff had donated $13,600 to Lautenberg's 2008 reelection campaign.

It is ironic that Lautenberg refuses to accept any reform of the Social Security federal Ponzi Scheme. When asked by NJ Network newsman, Michael Aron, whether or not having American's decide for themselves where to invest their money, Lautenberg responded "the role of government is to not allow people to make financial mistakes."

According to the Social Security Administration's own projections , the federal Ponzi Scheme will begin to unravel in 2019 when expenses will be greater than income. They estimate that in 2041 the Social Security trust fund will be exhausted, leaving only taxed income to pay benefits.