GAO warns nation’s current fiscal policy will lead to economic collapse...

The rise in the debt-to-GDP ratio is not sustainable...

Via Breitbart:

For two months, reporters and lawmakers have ignored a devastating report from the federal government itself, which warns that the nation’s current fiscal policy will lead to economic collapse.

The Government Accountability Office (GAO)—the personal auditor of President Obama and the federal government—released its assessmentof the federal government on January 17, 2013. The report’s findings illuminate just how dire America’s spending problem is and, therefore, how little the current cuts debated by Congress do to fix it.
The findings of the paper include these excerpts (emphasis added):

• “The projections in this Report indicate that current policy is not sustainable… Preventing the debt-to-GDP ratio from rising over the next 75 years is estimated to require some combination of spending reductions and revenue increases that amount to 2.7 percent of GDP over the period.”
• “It is estimated that running primary surpluses that average 1.0 percent of GDP over the next 75 years would result in the 2087 debt-to-GDP ratio equaling its level in fiscal year 2012, which compares with primary deficits that average 1.7 percent of GDP under current policies.”
• “It is noteworthy that preventing the debt-to-GDP ratio from rising over the next 75 years requires that primary surpluses be substantially positive on average. This is true because projected GDP growth is on average smaller than the projected government borrowing rate over the next 75 years.”

Keep reading…

Fail: Those tough Iran sanctions aren't destroying the Iranian economy...

Life goes on in Iran...

(Reuters) - Hossein Ahmad, an Iranian who runs a jewelry shop in wealthy Dubai, marvels at the spending power he sees on show during his monthly trips to Tehran, a year after U.S. sanctions largely froze Iran out of the global banking system.

Shops in the Iranian capital are crowded. Finding a seat at good restaurants can be difficult. And the ski resorts in the mountains north of Tehran continue to attract Tehran's glamorous and well-heeled.
"The economy has problems with the sanctions, yes. But it's still working," he says. "It isn't as bad as people outside the country think."

Sanctions are clearly having an impact; the country's oil revenue has been slashed and other trade disrupted; a weak currency has sent the prices of some imports soaring, destroying jobs as some factories using imported parts have folded.

But they are not close to having the "crippling" effect envisaged by Washington. The Iranian government has found ways to soften the impact, and Iran's economy is large and diverse enough to absorb a lot of punishment. Read it all...

Great New NRA AD: We Are America

Stand and fight!

Tweet of the Day: Rubio And Netanyahu Bump Water Bottles In Israel… Nice!

Outstanding...

Awesome. Rubio & Netanyahu twitter.com/jacktink/statu…
— jack tinker (@jacktink) February 20, 2013

John Kerry: Greatest challenge to U.S. foreign policy is Congress...

In what kind of alternate universe are Iran and North Korea less a foreign policy threat than Congress?

WASHINGTON (AP) — Secretary of State John Kerry says the greatest challenge to U.S. foreign policy is not emerging China or Middle East instability. It’s Congress.
In a speech Wednesday at the University of Virginia in Charlottesville, Kerry cited the adage that “we can’t be strong in the world unless we are strong at home.” He called the budget impasse a threat.

The State Department has said automatic spending cuts would jeopardize $2.6 billion in aid, security assistance and other international programs.

Kerry said legislators need to avoid “senseless cuts.”

Otherwise, he said his credibility as a diplomat might be damaged.
Kerry said, “Think about it: It’s hard to tell the leadership of any number of countries that they must resolve their economic issues if we don’t resolve our own.”

I still can't believe this idiot is our secretary of state.

1% Alert: Hillary Clinton to charge $200,000 per speech...

Following in Bill's footsteps? 

Via Daily Mail:

Hillary Clinton has wasted no time cashing in on the lecture circuit as it was revealed today that she will be charging $200,000 per speech.

The massive fee means that she will be making more from a two-hour lecture than she did in a year as Secretary of State.

The announcement that Mrs Clinton has hired a top talent agency to represent her as she begins to give paid speeches following her departure from the State Department came earlier this week, but her $200,000 asking price was only reported on Wednesday.

According to Buzzfeed, that puts her in the same league as her husband former President Bill Clinton who is so in-demand that he can command the six-figure fee.

The volume of the sum is made clear when looked at in comparison to her salary for a year as Secretary of State, which was $186,000.

Colorado Democrat: You Should Attack That Crazed Shooter With a Ballpoint Pen...

It appears democrats are taking full advantage of marijuana legalization in Colorado...

Get ready for pot tourism in Colorado...

Putting the high in Rocky Mountain High....

DENVER (AP) — Marijuana tourism is on the way to Colorado, under a recommendation made Tuesday by a state task force to regulate the drug made legal by voters last year.

But Colorado should erect signs in airports and borders telling visitors they can't take pot home, the task force recommended.

Colorado's marijuana task force was assembled to suggest regulations for pot after voters chose to flout federal drug law and allow its use without a doctor's recommendation. Made up of lawmakers, law enforcement authorities and marijuana activists, the task force agreed Tuesday that the constitutional amendment on marijuana simply says that adults over 21 can use the drug, not just Colorado residents. If lawmakers agree with the recommendation, tourists would be free to buy and smoke marijuana.

"Imposing a residency requirement would almost certainly create a black market for recreational marijuana in the state," said Rep. Dan Pabon, a Denver Democrat who sits on the task force.
Tourists could see purchasing caps though, possibly as low as an eighth of an ounce per transaction.