"It's class warfare and my class is winning." Warren Buffett

The value of any commodity, ... to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities. (Adam Smith, Wealth of Nations Book 1, chapter V.)

The question we ask today is not whether our government is too big or too small, but whether it works....(Barack Obama)


Saturday, June 27, 2009

Like Bush Obama Purports He Can Disobey the Law

The rule of law should be a cornerstone of every government. Yet President Obama has signed a law and issued a "signing statement" purporting that he doesn't need to obey portions of the law. Liberals and progressive criticized this practice by President Bush. It's not acceptable simply because President Obama has done it.

Here is the text of the statement and below it is a story about it:
However, provisions of this bill within sections 1110 to 1112 of title XI, and sections 1403 and 1404 of title XIV, would interfere with my constitutional authority to conduct foreign relations by directing the Executive to take certain positions in negotiations or discussions with international organizations and foreign governments, or by requiring consultation with the Congress prior to such negotiations or discussions. I will not treat these provisions as limiting my ability to engage in foreign diplomacy or negotiations.
On Friday, President Obama signed a new war spending bill into law, but "not without taking a page from his predecessor and ignoring a few elements in the legislation," the Hill reports.
Obama included a five-paragraph signing statement with the bill, including a final paragraph that outlined his objections to at least four areas of the bill.
President George W. Bush was heavily criticized for his use of signing statements, declaring he'd ignore some elements of legislation by invoking presidential prerogative.
The Obama administration announced in the statement it would disregard provisions of the legislation that, among other things, would compel the Obama administration to pressure the World Bank to strengthen labor and environmental standards and require the Treasury department to report to Congress on the activities of the World Bank and International Monetary Fund (IMF).
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