Stat of the Day: Terrible Deterioration of Race Relations Under Obama
In our Liberty Update commentary last week, we noted the many failures of Barack Obama as president over the past eight years. Today, as the nation celebrates Martin Luther King, Jr. Day, a Washington Post-ABC News survey shows just how disastrously race relations have declined under his watch:
In a recent Washington Post-ABC News poll, 63 percent of Americans think race relations are 'generally bad.' Shortly after Obama took office, that number was 22 percent. In the same time period, those who think race relations are 'generally good' plummeted from 66 percent to 32 percent."
Of his failures and disastrous legacy, this may be the most depressing.…[more]
WASHINGTON, D.C. – Today, the Center for Individual Freedom released a new television ad warning about the dangerous precedent Congress would be setting by passing the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), legislation currently being considered by the House Committee on Natural Resources, in its current form.
As Congress continues to debate legislation to address Puerto Rico’s financial crisis, CFIF’s new ad warns America's savers and seniors across America, as well as lawmakers, to be wary of the domino effect that could result should Congress pass the current version of PROMESA, which would provide “Super Chapter 9 bankruptcy” provisions for the Commonwealth.
“After years of reckless spending, Puerto Rico is out of money. Now savers and seniors could pay the price,” CFIF’s ad begins. The ad goes on to point out that high-spending states like Illinois, New Jersey and California collectively owe trillions of dollars in debt. If Congress changes the rules to retroactively enable Puerto Rico itself to renege on its constitutionally prioritized "full faith and credit" debt, Congress would be establishing a political precedent to do the same for those financially troubled states and others in the future.
“Puerto Rico is just the first domino to fall… Tell Congress: No ‘Super Chapter 9 Bankruptcy’ for Puerto Rico,” the ad concludes.
This ad is the most recent in CFIF’s ongoing education campaign regarding Puerto Rico’s debt crisis and legislation regarding the issue. In its current form, the PROMESA “Super Chapter 9” bill undermines the rule of law, threatens the property rights of the Commonwealth’s bondholders, increases moral hazard and sets a dangerous precedent for high-spending, financially distressed states that will expect similar rescue measures from Congress moving forward.
"Not since 1980 -- or perhaps 1932 -- has such a political revolution hit the banks of the Potomac River. Donald Trump comes into the White House with a bright, clear mandate to make wholesale changes to every aspect of the federal government. From the darkest corners of the bloated federal bureaucracy to the bright marble columns of the Supreme Court, Mr. Trump's mandate is as broad as it is dramatic…[more]