Candidate Joe Kennedy III Calls for End To “Cheap Oil”….

There is out of touch and then there is OMGWTF out of touch. Just when you thought it was bad enough when Obama’s Energy Secretary testified to Congress that gas should be $8.00 a gallon….

The Daily Caller:

As gas prices continue to soar around the country, Joe Kennedy III, the Democratic candidate for Rep. Barney Frank’s seat, wrote an online letter to supporters calling for an end to “cheap oil.”

“Nixon, Ford, Carter, Reagan, Bush, Clinton, Bush, Obama — they’ve all talked about the same thing: the need to wean ourselves off our debilitating dependence on foreign oil,” Kennedy wrote.

“The cycle that allows cheap oil to trump tough choices has to stop,” he continued. “Forty years is enough.”

In the week before Kennedy posted, AAA Southern New England reported that the price of gas in Massachusetts had risen a further two cents. The Worchester Business Journal reported that at an average of $3.899 a gallon for regular unleaded gas, the price is currently 24 cents higher than it was one year before.

Kennedy is running against Sean Bielat, a former Marine who lost to 16-term Rep. Barney Frank by 10 points in the 2010 election.

“It’s kind of stunning that he’s so out of touch that he would say it that way,” Bielat Communications Director Sarah Rumpf told The Daily Caller. “Democrats, Republicans and independents — everybody is paying for higher gas right now.”

Though Kennedy has said that he is not running on his name — which represents a liberal political dynasty — critics have attacked him for not putting forth policy positions. His campaign website does not have an issues section.

Obama’s Top Money Man Was In Charge of Bain Capital During GST Steel Layoffs

Also see – Obama invested heavily with outsourcers, after accusing Romney of doing the same… – LINK

President Obama accused Mitt Romney of being responsible for shutting down this American Steel plant, saddling it with debt, and screwing the employees out of their pensions, but Mitt Romney left Bain Capital two years before this happened to run the Olympics. So who was in charge of Bain Capital when this happened? You guess it, Obama’s top campaign money bundler John Levine. Does it get any better than this?

Our friends Chuck Slowe and  Jim Hoft have a great report on this. Be sure add their websites to your daily reading:

The Obama campaign blamed Governor Mitt Romney for the demise of GST Steel company in a video they released in May. The plant closed in 2001. Mitt left Bain in 1999.

[Political Arena Editor’s Note – I ripped this video to my hard drive just in case it vanishes from Obama’sYoutube Channel]

For some reason the Obama camp forgot to mention this
Obama’s top bundler Jonathan Lavine was in charge of Bain during the BST layoffs.

Chuck Slowe reported:

Blaming Governor Romney for any issues surrounding the failure of GST is wrong and it is a blatant lie. Mitt Romney had been long gone when the company started to fail and subsequently closed it doors. When are the President and his campaign hacks going to get the story correct? When are they going to get back to their economy and its dreadful condition? Mr. President, you can run but you cannot hide.

It turns out that Jonathan Lavine, current Obama bundler, was actually in charge, at Bain, during that period, when the layoffs occurred. Oops, that isn’t right, is it? Yes, that story is the one that needs to be reported on. Sorry Mr. President, your lies are just getting to be more than many of us are able to handle.

And, Jonathan Lavine is not your average Obama Bain donor. Lavine is one of Barack Obama’s top bundlers.
ABC reported:

While Democrats assail presumptive Republican presidential nominee Mitt Romney’s Bain Capital business practices, Republicans note that President Obama has not been bashful about accepting cash from Bain executives or other high-profile figures in the corporate buyout business…

…One of Obama’s top campaign financiers – Jonathan Lavine – is also managing director at Bain, bundling between $100,000 and $200,000 in contributions for the 2012 Obama Victory Fund, according to estimates released by the Obama campaign. The president has also relied on other leading figures in the private equity sector as hosts for high-dollar fundraisers and as members of his Jobs Council.

Maybe someday the liberal media will report on this.

Obama invested heavily with outsourcers, after accusing Romney of doing the same…

See our other coverage on General Electric, Obama and Outsourcing. Also see – Obama’s Top Money Man Was In Charge of Bain Capital During GST Steel Layoffs – LINK.

Here we have an outstanding piece of journalism from Phil Klein at the Washington Examiner:

President Obama has accused Mitt Romney of raking in profits from investing in companies that ship American jobs overseas, but according to his most recent financial disclosure, he and First Lady Michelle Obama have hundreds of thousands of dollars in a mutual fund that has large holdings in corporations that outsource jobs.

“(Romney) invested in companies that have been called ‘pioneers’ of outsourcing,” Obama said at a Saturday campaign event in Glen Allen, Va. “I don’t want a pioneer in outsourcing. I want some insourcing.”

But Obama’s own portfolio shows a willingness to invest in American corporations that have shifted employment overseas.

In his most recent financial disclosure from 2011, Obama and his wife reported having between $200,000 and $450,000 in the Vanguard 500 Index Fund, which invests in the largest U.S. corporations. According to a filing with the Securities and Exchange Commission, as of Sept. 30, 2011, the fund’s biggest holding was 8,272,039 shares of Apple Inc., then valued at $3.2 billion.

The New York Times reported in January:

Not long ago, Apple boasted that its products were made in America. Today, few are. Almost all of the 70 million iPhones, 30 million iPads and 59 million other products Apple sold last year were manufactured overseas….

“Apple’s an example of why it’s so hard to create middle-class jobs in the U.S. now,” said Jared Bernstein, who until last year was an economic adviser to the White House.

“If it’s the pinnacle of capitalism, we should be worried.”

The mutual fund that the Obamas have invested in also held 94,582,281 million shares of General Electric, valued at $1.4 billion, as of the SEC filing. The multinational conglomorate has a long history of outsourcing – according to a new book  cited by the New York Times, in 1989, “G.E. became the first U.S. company to outsource software work to India.” Obama also has close ties to GE’s CEO, Jeffrey Immelt, who was appointed as chairman of his outside panel of economic advisers last year.

In addition to Apple and GE, the Obamas’ fund listed 10,655,961 shares of International Business Machines, valued at $1.9 billion. As the Wall Street Journal reported in 2009, “The technology giant has been steadily building its work force in India and other locations while reducing the number of workers based in the U.S. Foreign workers accounted for 71% of Big Blue’s nearly 400,000 employees at the start of the year, up from about 65% in 2006.”

The point in this is not to say outsourcing is wrong. Corporations are supposed to maximize profits for shareholders. But Obama’s own portfolio shows that despite his heated rhetoric, he makes investment decisions without regard to whether companies are outsourcing.

You can look at a full list of the fund’s holdings as of Sept. 30, 2011, here.

Chevy Volt Costs Tax Payers $250,000 Per Car, Low Sales, Huge Losses; Elite Media Silent

But when there was a tiny uptick in Chevy Volt sales in June the elite media was ecstatic.

NewsBusters:

The President is running in large part on the bailout’s $30+ billion loss, uber-failed “success.”  And the Press is acting as his stenographers.  An epitome of this bailout nightmare mess is the electric absurdity that is the Chevrolet Volt.  The Press is at every turn covering up – rather than covering – the serial failures of President Obama’s signature vehicle.

The Press has failed to mention at least five Volt fires, myopically focusing on the one the Obama Administration hand-selected for attention.

The Press has failed to mention that the Volt fire problem remains unsolved.  Is it the battery?  Is it the charging station?  Is it the charging cable?  All of the above?

GM and the Administration don’t know.  And the Press ain’t breaking their necks trying to find out.

In more recent news, the Press has almost as one hailed the June Volt sales increase.

GM’s Volt Sales Up in June

Surprising June Sales for Volt

Chevy Volt Leads US Plug-In Car Sales

Chevy Volt Sales Increases

Volt Records Second-Best Sales Month

The Press has for the most part failed to mention how pathetic this “second-best sales month” actually is.  And even when one Dinosaur does, the unwarranted enthusiasm is palpable.

GM sells 1760 Volts in June, double from 2011

Wow.  Huge number.

The Press also fails to put this pathetic tally in perspective.

The Chevy Cruze is basically a Volt without the dead-weight, flammable 400-lb. electric battery.  Which makes it $17,000, rather than the Volt’s $41,000.

Chevy in June sold 18,983 Cruzes – more than ten times the number of Volts.  And that’s down 1/3 from last June’s 24,648.

But that feeble Volt tally has the Press all revved up.

And speaking of the Volt’s ridiculous $41,000 sticker price:

According to multiple GM executives there is little or no profit being made on each Volt built at a present cost of around $40,000. Furthermore, the $700 million of development that went into the car has to be recouped.

Get that?  GM makes “little or no profit” on the Volt.

So it makes perfect sense that GM would spend millions of dollars advertising it, does it not?  No ideological or campaign intent there, eh President Obama?

Look, I get it, it’s fun.  I just spent $1 million – of your money – advertising free air.  On which my profit margin is just as good as GM’s is on the Volt.

Only my ads didn’t have a song, or a dance.  We just aren’t as cool as the Volt.

I mean, it’s so cool – it can travel back in time to inspire the production of cars before it even existed.

I mean, it’s so cool – it can travel back in time to offer the exact same technology as a car from 1991.  And the exact same electric battery range as a car from 1897.

We’re talking retro-grade cool.

But wait – there’s so much more.

(A)dd $240 million in Energy Department grants doled out to G.M. last summer, $150 million in federal money to the Volt’s Korean battery supplier, up to $1.5 billion in tax breaks for purchasers and other consumer incentives, and some significant portion of the $14 billion loan G.M. got in 2008 for “retooling” its plants, and you’ve got some idea of how much taxpayer cash is built into every Volt.

Speaking of those “tax breaks for purchasers and other consumer incentives” – as of November of last year that tally all by itself was $250,000 per Volt sold.

And that excruciating pain is ongoing.  Again, a Volt sold makes GM no money – but costs We the Taxpayers a $7,500 bribe – I mean “incentive.”  Oh – and President Obama wants to jack that bribe to $10,000 per.

I guess it’s good news after all that Volt sales remain so anemic.

And with GM’s new 60-day return policy, it looks like you can buy a Volt and cash the $7,500 bribe check. Then return the Volt – and keep the $7,500 bribe cash.  How’s that for Taxpayer coin stewardship?