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All Da King's Men

Cash, Privilege, Cliff

By David King Published: June 21, 2012

Big Bucks:

  Bloomberg reports that Obama and the Democrats have raised a lot more campaign cash than have Romney and the Republicans:

Obama has now raised $261.4 million for his re-election and Romney $123.6 million.

The Democratic National Committee outraised its Republican counterpart, $189.2 million to $169.4 million
.

And liberals everywhere are whining about the Supreme Court's Citizen's United decision, a decision that ruled against political censorship. Go figure.
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The Most Transparent Administration In History:

"My Administration is committed to creating an unprecedented level of openness in Government.  We will work together to ensure the public trust and establish a system of transparency, public participation, and collaboration. Openness will strengthen our democracy and promote efficiency and effectiveness in Government. Transparency promotes accountability and provides information for citizens about what their Government is doing." - Barack Obama (link)

Yesterday, Mr. Transparency became Mr. Secrecy:

A standoff between Republicans and the Obama administration over a botched gun-trafficking operation escalated Wednesday, with a House committee voting to hold Attorney General Eric Holder in contempt of Congress.

The party-line vote came hours after President Barack Obama, for the first time, asserted executive privilege, aiming to block Republicans from gaining access to Justice Department documents about the operation.

House Republican leaders said they would bring the contempt measure to the House floor next week. If the full House votes to support it, then a contempt citation could be referred to the U.S. attorney for the District of Columbia, an appointee of Mr. Obama's who is in Mr. Holder's chain of command.


This presidential stonewalling will only raise suspicions about the Obama administration's role in Fast And Furious, and it already has:

Mr. Obama’s last-minute move to extend the umbrella of executive privilege raises the question of whether the president or his staff had extensive prior knowledge of the operation, because this privilege can only be invoked when the chief executive’s office is involved. “Until now, everyone believed that the decisions regarding Fast and Furious were confined to the Department of Justice,” said Michael Steel, spokesman for House Speaker John A. Boehner, Ohio Republican. “The White House decision to invoke executive privilege implies that White House officials were either involved in the Fast and Furious operation or the cover-up that followed.”

Scandal status: ELEVATED

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Over The Cliff:

Last month, Federal Reserve Chairman Ben Bernanke and the Congressional Budget Office (CBO) both warned about the approaching "fiscal cliff". That is when huge tax hikes and some automatic spending cuts go into effect  in January 2013 as part of the previous debt ceiling limit deal struck between Democrats and Republicans. Both Bernanke and the CBO say the fiscal cliff could send us back into recession. What they are really saying is this - We can't cut spending, we can't raise taxes, and trillion+ dollar federal deficits are the only way to keep our economy afloat.  In other words, America is not fiscally sustainable. We are living in an economic fiction, artificially fueled by an ever-increasing mountain of debt.  It's a no-win situation, according to our high-level muckety-mucks.  Better ring the alarm bells on the Titanic, because we are going to crash, and nobody is going to come to our rescue. In the meantime, Obama has his band up and playing on the deck in the hope that nobody will notice the fast-approaching iceberg (i.e., free contraception, amnesty for illegals, a new position on gay marriage, attacking private equity firms, etc). Simply marvelous.


 

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