George Herbert Walker Bush's legacy: It took only 7 years of NAFTA to destroy hours worked in the United States

Hours of all persons grew 44% during the Reagan bull market, which ended in August 2000. Since then, hours of all persons has grown just 3%.

NAFTA went into effect in January 1994, eleven years after the Reagan bull began and a little over one year after Bush inked the deal. Seven years later hours of all persons peaked.

It reminds me of Bill Clinton's innovation, the so-called Taxpayer Relief Act of 1997, which blew up the housing market after just 10 years.

Republicans take away your job, then Democrats come along and take away your house.

If you're living in your car, you'd better watch your back.  

Laugh of the Day: David Brooks is a conservative the same way Obama was a constitutional law professor

Seen here in the comments.

Great point Mr. President: Don Jr. hands over his emails, Crooked Hillary deletes hers . . . BY THE THOUSANDS

Income inequality has increased really for just one reason: Growth of owner occupied housing is in decline

Homeownership is the ticket to the middle class, and fewer and fewer tickets are being issued:

Your mortgage interest deduction is only eighth in the latest list of top things on which government claims it loses revenue

But libertarians especially hate it. Expect more articles telling you it's got to go as tax reform talk heats up in Congress.

Here are the top 20 "tax loss expenditures" for 2016-2020:

1.  Exclusion of employer contributions for health care and insurance: $863 billion

2.  Lower tax rates on dividends and long term capital gains: $678 billion

3.  Income made by controlled foreign corporations: $587 billion

4.  Contributions made to IRAs and 401k plans: $584 billion

5.  Pension plan contributions: $424 billion

6.  Earned Income Tax Credit: $373 billion

7.  Deductions taken for state and local income taxes, sales taxes, property taxes: $369 billion

8.  Deductions taken for mortgage interest on owner occupied homes: $357 billion

9.  Obamacare "subsidies": $327 billion (what a laugh: they raise the cost, give you a subsidy, and count the subsidy as a tax-free gift)

10. Child tax credit: $271 billion

11. Expensing depreciable business property: $248 billion

12. Deductions taken for charitable contributions: $231 billion

13. Social Security benefits: $214 billion

14. Municipal bond income: $195 billion

15. Deductions taken for taxes on real property: $180 billion

16. Capital gains taxes excluded at death: $179 billion

17. Medical expenses and over the counter medications under cafeteria plans: $169 billion

18. Capital gains taxes excluded on sale of principal residence: $166 billion

19. Life insurance proceeds: $128 billion

20. Deduction for income from domestic production activities: $102 billion.

Total revenue the government claims it's "losing" because of its "benevolent" tax policy on these items: $6.645 trillion over five years, or $1.329 trillion annually.

My, how nice of them. 

Justin Raimondo is right, and Coulter and Nehlen are wrong: Afghanistan is the world's first narcostate, supplying over 75% of the world's heroin

Nuke Afghanistan's poppy fields, and you solve a lot of the world's problems. Raimondo is right, Coulter and Nehlen are wrong. Mexico isn't the "source". It's the conduit. 

From the New York Times in 2013, here:

Afghanistan is already the world’s largest producer of opium, and last year accounted for 75 percent of the world’s heroin supply. “The assumption is it will reach again to 90 percent this year,” said Jean-Luc Lemahieu, the United Nations’ top counternarcotics official here.

China per capita cigarette consumption is 114% higher than US

The Chicoms consume about 4.7 cigarettes per day per capita, about 7.1 packs a month, despite recent attempts to tax the habit out of existence (2350 billion cigs in 2016 divided by population of 1.379 billion).

Americans consume 2.2 cigarettes per day per capita, about 3.3 packs a month (258 billion cigs in 2016 divided by population of .3231 billion).

Life expectancy in the US is 79 years, in China 76 years.

Deaths per 100,000 from coronary heart disease in China are pushing 100, in the US 78.

Trump excoriates Obama for his healthcare lies

What will the next point be on the graph when Trump is done?

John McCain diagnosed with a cancer that usually kills within 12-15 months with treatment

Story here.

McConnell still to go ahead with repeal only bill next week, to put Republican women on the record voting against it

Good for him.

Story here.

Inquiring minds want to know: Is it cheaper to stop drugs by building a wall or nuking the opium fields of Afghanistan?

The $15 billion cost of a wall would buy you roughly 750 upgraded B61 nuclear gravity bombs.

Each one can incinerate about 50 square miles.

Afghanistan has about 780 square miles devoted to opium production.

Number of B61 bombs needed: just 16.

Cost $320 million.

Hundreds of bombs left over to enlighten other ne'er-do-wells.

Three pleasant outcomes: 1) Drugs eliminated at the source; 2) Afghan War ends immediately; 3) Drug mules and gangs stop coming over the border.

I say we nuke 'em.

Supremes intervene again to uphold Trump right to ban 24,000 refugees awaiting entry

From the story here:

The high court on Wednesday blocked Watson’s order as it applies to refugees, but not the expanded list of relatives. The justices said the federal appeals court in San Francisco should now consider the appeal. It’s not clear how quickly that will happen.

In the meantime, though, up to 24,000 refugees who already have been assigned to a charity or religious organization in the U.S. will not be able to use that connection to get into the country.

With Bush and Obama, America has entered a new era of stupid, paying in excess of $1 for every extra dollar of GDP

The Reagan GDP miracle is a complete myth: It was all government spending (on defense)

And it set a horrible precedent for the dramatic overspending of George W. Bush and Barack Obama, which has sent us on a course to oblivion. You can argue it was necessary to defeat the USSR, but you can't argue that baseline spending (in black) has done anything but go up, up, up to dangerous new levels as a result (notice the baseline Jimmy Carter inherited from liberal Republicanism, for which he got the blame from Ronald Reagan, which wasn't very nice of the old man who went on to bequeath a similar giant new baseline to his successor, G.H.W. Bush).

No, the real miracle was the pathetic loser in Iran, Jimmy Carter, who spent the least in the post-war for his additional GDP, followed by Bill Clinton.

Of course, the spending is all the prerogative of the Congress. The president proposes but the Congress disposes, as the saying goes.

Beware libertarian politicians preaching balanced budgets, as well as utopian infrastructure spending enthusiasts promising the moon and liberal Republicans selling government spending as security to senior citizens at the expense of younger Americans in a time of protracted war. They have delivered little beyond $20 trillion in debt.

Memo to GOP

Not one more dime.

Mark Davis has a firm grasp of the obvious

The GOP isn't conservative enough to give their voters what they want.

Here.

Reagan couldn't accomplish much because Democrats controlled Congress

Trump has the same problem.

These two women voted to repeal Obamacare in 2015, but now they refuse to

Shelley Moore Capito -- WV

Lisa Murkowski -- AK

Turncoats Shelley Moore Capito and Lisa Murkowski said Tuesday they’ll oppose a repeal of the Affordable Care Act

Capito and Murkowski should be run out of the party on a rail. They both voted for repeal last time.

Story here.