The American left is on a downward spiral. This is the end of an era.
The old leftist nostrums are poison to a nation that must compete on the global stage. At long last American liberalism is going the way of every collectivist, socialist scheme of the 20th century. It has been kept alive in this country because of our tremendous private enterprise wealth and prosperity. But even that cannot keep a failure alive forever. American leftism RIP, we cannot afford you any longer.

WASHINGTON (AP) - For the dozen lawmakers tasked with producing a deficit-cutting plan, the threatened "doomsday" defense cuts hit close to home.

The six Republicans and six Democrats represent states where the biggest military contractors - Lockheed Martin, General Dynamics (GD) Corp., Raytheon Co. and Boeing Co. - build missiles, aircraft, jet fighters and tanks while employing tens of thousands of workers.

The potential for $500 billion more in defense cuts could force the Pentagon to cancel or scale back multibillion-dollar weapons programs. That could translate into significant layoffs in a fragile economy, generate millions less in tax revenues for local governments and upend lucrative company contracts with foreign nations.

The cuts could hammer Everett, Wash., where some of the 30,000 Boeing employees are working on giant airborne refueling tankers for the Air Force, or Amarillo, Texas, where 1,100 Bell Helicopter Textron workers assemble the fuselage, wings, engines and transmissions for the V-22 Osprey tilt-rotor aircraft.


Billions in defense cuts would be a blow to the hundreds working on upgrades to the Abrams tank for General Dynamics in Lima, Ohio, or the employees of BAE Systems in Pennsylvania.

For committee members such as Sens. Patty Murray, D-Wash., Rob Portman, R-Ohio, and Pat Toomey, R-Pa., the threat of Pentagon cuts is an incentive to come up with $1.5 trillion in savings over a decade. Failure would have brutal implications for hundreds of thousands workers back home and raise the potential of political peril for the committee's 12.

"I think we all have very good reasons to try to prevent" the automatic cuts, Toomey told reporters last week when pressed about the impact on Pennsylvania's defense industry. "That is not the optimal outcome here, the much better outcome would be a successful product from this committee."

The panel has until Thanksgiving to come up with recommendations. If they deadlock or if Congress rejects their proposal, $1.2 trillion in automatic, across-the-board cuts kick in. Up to $500 billion would hit the Pentagon.

The American left is on a downward spiral.

Texas Gov. Rick Perry, making his maiden campaign swing in Iowa after jumping into the race for the Republican presidential nomination, suggested Monday night that Federal Reserve Chairman Ben Bernanke would be committing an act of treason by printing more money between now and November 2012.

Responding to a question about the Federal Reserve at a campaign event in Cedar Rapids, Perry said: “If this guy prints more money between now and the election, I don’t know what y’all would do to him in Iowa, but we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treacherous, or treasonous, in my opinion.”

Perry’s comments drew a sharp rebuke by some commentators online Monday night. Tony Fratto, a former spokesman for President George W. Bush, tweeted: “Gov. Perry’s comments about Chmn. Bernanke are inappropriate and unpresidential.”

With Republicans sizing up the race’s newest entrant, Perry is beginning to face an onslaught of scrutiny over his record and past statements.

Bernanke was first appointed by President Bush, a Republican

“Since June of 2009, Texas is responsible for more than 40 percent of all of the new jobs created in America. Now think about that. We’re home to less than 10 percent of the population in America, but 40 percent of all the new jobs were created in that state.”

“We’re dismayed at the injustice that nearly half of all Americans don’t even pay any income tax.”

“That’s why we reject this President’s unbridled fixation on taking more money out of the wallets and pocketbooks of American families and employers and giving it to a central government. ‘Spreading the wealth’ punishes success while setting America on course to greater dependency on government.”

“To paraphrase Abraham Lincoln and Ronald Reagan, I realized that the United States of America really is the last great hope of mankind.”

“His policies are not only a threat to this economy, so are his appointees – a threat. You see he stacked the National Labor Relations Board with anti-business cronies who want to dictate to a private company, Boeing, where they can build a plant. No president, no president should kill jobs in South Carolina, or any other state for that matter, simply because they choose to go to a right-to-work state.”

“We don’t need a president who apologizes for America. We need a president who protects and projects those values.”

On February 24, 2011, General Motors reported its first full-year profit since 2004. It can carry forward previous losses to reduce tax liability on future earnings. It earned $4.7 billion in 2010. The Wall Street Journal estimated the tax break, including credits for costs related to pensions and other expenses can be worth as much as $45 billion over the next 20 years.

The production design model officially unveiled on September 16, 2008