U.N. 'Climate Change' Plan Would Likely Shift Trillions to Form New World Economy

Iran Responds to Obama's Open Hand: Slap Him

Police identify 200 children as potential terrorists

Notre Dame Scandal

Obama Hood

Obama at Notre Dame

North Korea Launch

Graphic source: JANE'S INTELLIGENCE REVIEW/DIGITALGLOBE

Commercially available satellite imagery appears to confirm that North Korea is preparing to launch a space-launch.

Terror War Over: Let's Send in More Troops

Now that the war on terror is over the Obama is ordering 4,000 trainers in addition to the 17,000 soldiers Obama has already ordered to Afghanistan, where attacks by Taliban militia have pushed violence to its highest level since U.S.-led forces invaded in 2001. Yes, this can work; I see no problems here.

Pastor Manning, As Always, Keeping it Real

Indian Army fears China attack by 2017

Like Bush, New Justice Dept. Claiming Privilege

Obama Bankruptcy Plan

“Investment” is “the outlay of money usually for income or profit,” and the meaning of the word “invest” is “to commit (money) in order to earn a financial return.” I wish someone would explain the word to the Obama. He misused the word, or just used an innocuous or innocent sounding word to dull the senses. The term or its equivalent was employed 18 times during his last address.

Here are the 18 times Obama used the words “invest” or “investment” to refer to government spending during his March 24 press conference. (The quotes are from the transcript of the press conference that CNN posted on Tuesday night.)

1. We invest in the renewable sources of energy that will lead to new jobs, new businesses and less dependence on foreign oil.

2. We invest in our schools and our teachers, so that our children have the skills they need to compete with any workers in the world.

3. We invest in reform that will bring down the cost of health care for families, businesses and our government.

4. It's with a budget that leads to broad economic growth by moving from an era of borrow and spend to one where we save and invest.

5. We’ve got to make some tough budgetary choices. What we can't do, though, is sacrifice long-term growth, investments that are critical to the future, and that's why my budget focuses on health care, energy, education, the kinds of things that can build a foundation for long-term economic growth, as opposed to the fleeting prosperity that we've seen over the last several years.

6. And what we have to do is invest in those things that will allow the American's capacity for ingenuity and innovation, their ability to take risks, but make sure that those risks are grounded in good products and good services that they believe they can market to the rest of the country, that those models of economic growth are what we're promoting, and that's what I think our budget does.

7. We've got to invest in education, K through 12 and beyond, to upgrade the skills of the American worker so we can compete in--in the international economy.

8. Here's what I do know: If we don't tackle energy, if we don't improve our education system, if we don't drive down the costs of health care, if we're not making serious investments in science and technology and our infrastructure, then we won't grow 2.6 percent, we won't grow 2.2 percent. We won't grow.

9 & 10. And so what we've said is, let's make the investments that ensure that we meet our growth targets that put us on a pathway to growth as opposed to a situation in which we're not making those investments and we still have trillion-dollar deficits.

11. And so what we're trying to emphasize is, let's make sure that we're making the investments that we need to grow to meet those growth targets, at the same time we're still reducing the deficit by a couple of trillion dollars, we are cutting out wasteful spending in areas like Medicare, we're changing procurement practices when it comes to the Pentagon budget, we are looking at social service programs and education programs that don't work and eliminate them.

12. But it is going to be an impossible task for us to balance our budget if we're not taking on rising health care costs, and it's going to be an impossible task to balance our budget or even approximate it if we are not boosting our growth rates. And that's why our budget focuses on the investments we need to make that happen.

13. Look, I'm not going to lie to you. It is tough. As I said, that's why the critics tend to criticize, but they don't offer an alternative budget. Because even if we were not doing health care, we were not doing energy, we were not doing education, they'd still have a whole bunch of problems in those out-years, according to CBO projections. The only difference is that we will not have invested in what's necessary to make this economy grow.

14. And so what we've said is, look, let's invest in health information technologies.

15. Let's invest in preventive care.

16. Let's invest in mechanisms that look at who's doing a better job controlling costs while producing good quality outcomes in various states and let's reimburse on the basis of improved quality, as opposed to simply how many procedures you're doing. Let's do a whole host of things, some of which cost money on the front end, but offer the prospect of reducing costs on the back end.

17. Now, the alternative is to stand pat and to simply say, "We are just going to not invest in health care."

18. And that's why the recovery package said, as a first priority, how are we going to save or create 3.5 million jobs? How can we prevent layoffs for teachers and police officers? How can we make sure that we are investing in the infrastructure for the future that can put people back to work right away?

The Congressional Budget Office (CBO) released an analysis of Obama’s budget proposal, concluding that it would result in an increase in the national debt that is unprecedented in the post-World War II era.

China's Military on the Rise

The China Military Power Report 2009 has been released and it documents how China's power is increasing. Not surprisingly then, China has flexed its muscles in the international economy.

Obama: Martial law, N.Y.'s 20th Congressional District

"Sign up and pitch in to elect Scott Murphy to Congress," the Obama begged in an early morning e-mail to at least 50,000 people in New York's 20th Congressional District. Recently, I reported that closely adjacent Schenectady, New York, is considering declaring martial law. I suppose that it is just a coincidence that the nearby congressional district, which may be a reflection of dissatisfaction about the Obama, is of personal concern. I would suspect that all bets are off and in order not to lose a vote which may be a bell whether referendum on his policies the Obama is engaged.

Global Recession, Security Challenges Test Obama's Popularity Among World Leaders

Feds' plan to poison banks of Rio Grande stalled

EU presidency: US stimulus is 'the road to hell'

U.S. to blame for Mexico violence: Clinton

UK Snoop

White House Open to Global Currency

Last night, Obama expressed confidence in the dollar and declared: "I don't believe that there's a need for a global currency."

Normally, that would settle the issue. But in the past 24 hours two of Obama's top economic advisers have signaled an openness to such a new global currency -- in one form or another. What's going on?

Politico's Ben Smith reports that Treasury Secretary Timothy Geithner said this morning that he was open to a new global currency to replace the dollar, as proposed by a Chinese central banker. Geithner, according to Smith, said that the proposal -- which he has not yet read -- is less transformative that headlines have suggested. "We’re actually quite open to that suggestion – you should see it as rather evolutionary rather building on the current architecture rather than moving us to global monetary union," Geithner said.

Later, the moderator, per Smith "apparently sensing a gaffe," asked Geithner to clarify his remarks. Geithner walked back his earlier comments and said he does not see the dollar being sidelined by a new currency.

But Geithner wasn't the only top Obama adviser who refused to rule out a transition to a global currency. White House economic adviser Austan Goolsbee said much the same thing yesterday afternoon in an interview with CNN's Wolf Blitzer. Although he characterized such a change as "unlikely," Goolsbee twice declined to rule out such a global currency despite being pressed by Blitzer. "I haven't seen the details of the proposal," Goolsbee said. The entire exchange follows:

BLITZER: The Chinese suggesting today, this dollar, U.S. dollar, should be replaced as international currency, because they are beginning to have concerns that you are printing, the U.S. government is simply printing too many of these dollars and will lose its value as an international currency.

What's your reaction?

GOOLSBEE: It strikes me as probably unlikely.

Different people have in the past argued for world currencies or new -- new currencies before. I believe the U.S. at this point is the safest place to invest in the world. And it's likely to remain that the dollar is a critical currency in the years ahead.

BLITZER: So, you -- you don't like some new international currency that some Chinese are proposing?

GOOLSBEE: Well, look...

BLITZER: I assume that's right, right?

GOOLSBEE: I haven't seen the details of what they are proposing.

I mean, the dollar is the dollar. If people don't want to buy it, they don't buy it. But I think you have seen sort of a flight to the dollar in -- in times of trouble.

I don't know enough about monetary policy and currency to analyze the potential benefits and drawbacks of such a change, though several people I've spoken to believe it's an idea that's as undesirable as it is unworkable. But as a matter of instilling confidence in the U.S. economy at a time when such confidence is critical, it seems that Obama's answer was much better than the mixed messages coming from his top economic advisers.