How To Retire In Style
February 28, 2009
January 21, 2009
It’s said that human beings stand out from other species by virtue of our ability to think and plan ahead. While that may be true, most of us also have great trouble thinking about or preparing for the long term in the middle of our daily tasks and toil. Heck, it’s difficult enough to plan something just six months ahead, like a summer vacation. How on earth are we supposed to be able to think about something in the distant future — like retirement?
However, thinking in advance, and acting on those thoughts, are keys to being ready when the future becomes the present. The younger you are, the more distant your retirement — and the greater your ability to compound your returns over time. That paradox can work to your advantage.
In this collection, we try to answer the important questions:
- How much will I need for my retirement in order to live comfortably?
- What are my goals?
- When should I start?
- What should I do?
- How much can I count on from Social Security?
- What costs might I run into once I’ve actually retired?
We all need to ask these questions, but with all our short-term preoccupations, we often wait too long to do so. These 13 Retirement Steps, along with a bevy of tools for running the numbers, can help you cut through the haze and see the realities that will make your golden years truly golden — in fine Foolish fashion. Let’s get started!
LaCrosse Footwear Receives $6.7 Million Order from the United States Army
February 27, 2009
PORTLAND, Oregon- LaCrosse Footwear, Inc. (Nasdaq/NMS:BOOT), a leading provider of branded work and outdoor footwear for expert users, announced today its Danner® subsidiary received a new $6.7 million delivery order from the U.S. Army for the Danner Combat Hiker boot. Danner anticipates delivering this order of the Combat Hiker boot beginning in April through August of this year.
“The United States Army´s request for additional pairs of our Combat Hiker signifies the boot’s proven performance in the field,” said Joseph P. Schneider, president and CEO of LaCrosse Footwear, Inc. “For the past year and a half, Danner has been working closely with the U.S. Army to develop and test footwear that provides extended wear and high performance in harsh mountain terrain and challenging weather conditions. Danner continues to remain focused on combining a deep understanding of what soldiers need in the field with our expertise in innovative product engineering, unique manufacturing capabilities and a passion for our craft. We are proud to serve the men and women who serve our country.”
Danner provides premium performance footwear built to meet the demands and specific requirements for multiple branches of the U.S. Armed Forces. The new Danner Combat Hiker is a full-grain leather hiker designed with a rugged Vibram® outsole for traveling over uneven terrain while carrying heavy loads, a breathable Gore Tex® lining and a rubber rand surrounding the entire lower boot to protect against abrasion and damage from rock and scree. The Combat Hiker is also shorter than standard issue military boots in order to provide greater mobility during steep ascents and descents. These boots will be produced in the Company’s ISO 9001-2000 certified manufacturing facility located in Portland, Ore.
Danner military products are available through retail and exchange stores on U.S. Army, Marine Corps, and Air Force bases, and on Danner’s web site www.danner.com.
About LaCrosse Footwear, Inc.
LaCrosse Footwear, Inc. is a leading developer and marketer of branded, premium and innovative footwear for expert work and outdoor users. The Company’s trusted Danner® and LaCrosse® brands are sold to a network of specialty retailers and distributors in the United States, Canada, Europe and Asia. Work customers include people in law enforcement, agriculture, firefighting, construction, military services and other occupations that need high-performance and protective footwear as a critical tool for the job. Outdoor customers include people active in hunting, outdoor cross training, hiking and other outdoor recreational activities. For more information about LaCrosse Footwear products, please visit our Internet websites at www.lacrossefootwear.com and www.danner.com. For additional investor information, see our corporate website at www.lacrossefootwearinc.com.
Media Contact:
David Carlson (503) 262-0110, ext. 1331
Outdoor Channel Holdings Reports Strong 2008 Financial Results
February 27, 2009
Temecula, California- Outdoor Channel Holdings, Inc. (Nasdaq: OUTD) reported increases in total revenues of 22.5 percent and 15.3 percent, respectively, for the three- and twelve-month periods ended December 31, 2008.
Total revenues from continuing operations amounted to $14.4 million for the 2008 fourth quarter, compared with $11.7 million in the corresponding period a year ago. For full year 2008, total revenues from continuing operations equaled $54.1 million, compared with $46.9 million in the prior year.
Advertising revenue for the 2008 fourth quarter rose 21.0 percent to $10.0 million from $8.2 million in the prior-year period. For full year 2008, advertising sales rose 25.4 percent to $36.6 million from $29.1 million in the prior year.
Subscriber fees totaled $4.4 million for the fourth quarter of 2008, an increase of 26.3% compared to subscriber fees of $3.5 million in the prior-year period reflecting an increase in paying subscribers as well as increases in subscriber fee rates. For full year 2008, subscriber fees totaled $17.5 million which was down $0.3 million compared to subscriber fees for the prior year. The company attributed the slight decline in full year subscriber fees to the successful completion of carriage negotiations with the majority of its distributors during the preceding year.
“In 2008, we successfully executed our strategic plan and further solidified our leadership position in outdoor TV,” said Roger L. Werner, President and Chief Executive Officer. “Our strategic investments in programming, marketing and sales resulted in record ratings increases and double digit advertising growth for the fourth quarter and full year. In addition, we made considerable progress in implementing our digital strategy as well as maximizing our distribution relationships. Looking ahead, the overall economic climate remains challenging and our overall growth rate has moderated in the current quarter. However, we continue to deliver a highly targeted and loyal viewing audience, our online presence is growing and we have maintained strong relationships with our advertisers. We are also taking steps to further increase efficiencies across our operations and we remain committed to maintaining a strong balance sheet. We closed the quarter with over $60 million in cash and no long-term debt. We believe our long-term outlook is very promising and we are well positioned to benefit as the economy recovers. Our stock repurchase program reflects our confidence in our business and our commitment to generating value for our shareholders.”
Outdoor Channel Holdings posted net income of $0.5 million, or $0.02 per diluted share, for the 2008 fourth quarter, compared with a net loss of $1.6 million, or ($0.06) per diluted share, in the prior-year period. For full year 2008, the company posted net income of $2.4 million, or $0.09 per share, compared to a net loss of $1.9 million, or ($0.07) per share, for the prior year.
Earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for the effects of discontinued operations and share-based compensation expense, amounted to $3.9 million for the 2008 fourth quarter, compared with $1.5 million in the prior-year period. For full year 2008, EBITDA, adjusted for the effects of discontinued operations and share-based compensation expense, equaled $10.9 million, compared with $9.5 million for the prior year.
Stock Repurchase Program
The company also announced today that its board of directors has authorized a stock buyback program to repurchase up to an aggregate of $10.0 million of its issued and outstanding common shares. The stock repurchase plan will be effective March 3, 2009 through December 31, 2009.
The timing of stock buybacks and the number of shares of common stock to be repurchased will be made pursuant to a company 10b5-1 plan, and the repurchase program’s terms have been structured to comply with Rule 10b-18 under the Securities Exchange Act of 1934. The timing and extent of the repurchase will depend upon market conditions, applicable legal and contractual requirements, and other factors.
Investor Conference Call
Outdoor Channel Holdings’ management will host an investor conference call today, February 26, 2009, at 2 p.m. PST (5 p.m. EST) to review the company’s financials and operations for its 2008 fourth quarter and year ended December 31, 2008. Investment professionals are invited to participate in the live call by dialing 800-573-4752 (domestic) or 617-224-4324 (international) and using participant passcode 22697955. The call will be open to all other interested parties through a live, listen-only audio Internet broadcast in the Investor Relations section of the company’s Web site, www.outdoorchannel.com. For those who are not able to listen to the live broadcast, the call will be archived on the web site for one year. A telephonic playback of the conference call also will be available through 5 p.m. PST (8 p.m. EST), March 5, 2009, by calling 888-286-8010 (domestic) or 617-801-6888 (international) and using participant passcode 87661859.
About Outdoor Channel Holdings, Inc.
Outdoor Channel Holdings, Inc. owns and operates Outdoor Channel, America’s leader in outdoor TV. The national network offers programming that captures the excitement of hunting, fishing, shooting, off-road motorsports, adventure and the Western lifestyle. Outdoor Channel can be viewed on multiple platforms including high definition, video-on-demand, as well as on a dynamic new broadband website. For more information about the company or Outdoor Channel, please visit www.outdoorchannel.com.
Nielsen Media Research Universe Estimates for Outdoor Channel
Nielsen Media Research is the leading provider of television audience measurement and advertising information services worldwide. Nielsen estimated that Outdoor Channel had approximately 30.0 million cable and satellite subscribers for March 2009. Please note that this estimate regarding Outdoor Channel’s subscriber base is made by Nielsen Media Research and is theirs alone and does not represent opinions, forecasts or predictions of Outdoor Channel Holdings, Inc. or its management. Outdoor Channel Holdings, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information.
Use of Non-GAAP Financial Information
This press release includes “non-GAAP financial measures” within the meaning of the Securities and Exchange Commission rules. The company believes that earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for the effects of discontinued operations and share-based compensation expense, provides greater comparability regarding its ongoing operating performance. This information is not intended to be considered in isolation or as a substitute for net income (loss) calculated in accordance with U.S. GAAP. A reconciliation of the company’s U.S. GAAP information to EBITDA, adjusted for the effects of discontinued operations and share-based compensation expense is provided in the attached table.
Safe Harbor Statement
Statements in this news release that are not historical are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, including statements, without limitation, about our expectations, beliefs, intentions, strategies regarding the future long-term value of the company resulting from the company’s current actions or strategic initiatives and the future anticipated value of Outdoor Channel to our audience, distributors and advertisers. The company’s actual results could differ materially from those discussed in any forward-looking statements. The company intends that such forward-looking statements be subject to the safe-harbor provisions contained in those sections. Such statements involve significant risks and uncertainties and are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) service providers discontinuing or refraining from carrying Outdoor Channel; (2) a decline in the number of viewers from having Outdoor Channel placed in unpopular cable or satellite packages, or increases in subscription fees, established by the service providers; (3) the company’s ability to grow the subscriber base of Outdoor Channel; (4) a change in Nielsen’s methodology of estimating the number of subscribers to Outdoor Channel, or an inaccuracy in Nielsen’s such estimated number; (5) a decrease in operating results from offering reduced subscriber fee rates, launch support fees and other incentives to grow the subscriber base; and other factors which are discussed in the company’s filings with the Securities and Exchange Commission. For these forward-looking statements, the company claims the protection of the safe harbor for forward-looking statements in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Media Contact:
Outdoor Channel, www.outdoorchannel.com
Pistol makers up since Obama election
February 27, 2009
Associated Press
By MIKE OBEL , 02.25.09, 12:56 PM EST
The election of President Obama and a Democratically controlled Congress has been a boon to U.S. handgun makers, with sales of one pistol manufacturer climbing enough that an analyst Wednesday upgraded its stock to “Strong Buy” from “Accumulate.”
CL King & Assoc. analyst Jim Barrett upgraded shares of Sturm, Ruger & Co. after the Southport, Conn.-based company reported its firearm revenue soared 81 percent in the fourth quarter.
“We are raising our rating, recognizing that sales are benefiting from what is clearly a one-time surge in gun sales due to the arrival of the new Democratic administration,” Barrett said.
Since President Obama’s Nov. 3, 2008, election, Sturm’s shares have climbed more than 20 percent. And shares of rival Smith & Wesson Holding Corp., based in Springfield, Mass., have shot up about 40 percent.
Deutsche Bank-North America analyst Grant Govertsen, responding to an FBI report earlier this month that January background checks on potential firearms purchasers increased 29 percent from the same month of 2007, said fear of coming federal restrictions is boosting sales.
“Given heightened consumer fears of tighter gun control laws we would suspect an abnormally elevated level of firearms purchases over the next few quarters as consumers continue to stockpile guns, especially handguns and tactical (weapons),” he said.
The wave of gun buying is lifting sales of firearms retailers, too. Last week Sidney, Neb.-based sporting goods chain Cabela’s Inc. said its fourth-quarter profit beat Wall Street estimates, partly on robust gun sales.
Cabela’s expects the surge of gun buying to continue.
“We are not seeing the demand slow down,” Cabela’s spokesman Joe Arterburn said. “Many (customers) are first-time handgun buyers, who have never had a handgun in their home but believe now … is a good time to buy them. More women are coming in looking to buy handguns, as well.”
In midday trading shares of Sturm, Ruger jumped 99 cents, or 12.7 percent, to $8.79. Shares of Smith & Wesson rose 21 cents, or 5.9 percent, to $3.74.
Copyright 2008 Associated Press.
$740 Million Going to States for Fish and Wildlife Projects
February 24, 2009
Todays feature from the Outdoor Wire, discusses the $740 million dollars going to the States for Fish and Wildlife Projects.
Department of the Interior Secretary Ken Salazar announced yesterday that more than $740.9 million will be distributed to the fish and wildlife agencies of the 50 states, commonwealths, the District of Columbia, and territories to fund fish and wildlife conservation, boater access to public waters, and hunter and aquatic education.
Those Wildlife and Sport Fish Restoration Funds funds come from excise taxes and import duties on sporting firearms, ammunition, archery equipment, sportfishing equipment, electric outboard motors, and fuel taxes attributable to motorboats and small engines.
“The funds raised under the Wildlife and Sport Fish Restoration Programs have helped conserve our fish and wildlife resources and provide opportunities for outdoor recreation for more than half a century. These investments, which help create jobs while protecting our nation’s natural treasures, are particularly important in these tough economic times,” Salazar said. “All those who pay into this program – the hunting and fishing industries, boaters, hunters, anglers, and recreational shooters – should take pride in helping to conserve our land and its fish and wildlife and provide benefits to all Americans who cherish the natural world and outdoor recreation.”
The Wildlife Restoration apportionment for 2009 totals nearly $336 million, with more than $64.7 million marked for hunter education and firearm and archery range programs. The Sport Fish Restoration apportionment for 2009 totals more than $404 million.
Pittman-Robertson Wildlife Restoration Act funding is available to states, commonwealths, and territories through a formula based on land area, including inland waters and the number of paid hunting license holders in each state, commonwealth, and territory. State, commonwealth, and territorial fish and wildlife agencies use the money to manage wildlife populations, conduct habitat research, acquire wildlife lands and public access, carry out surveys and inventories, administer hunter education, and construct and maintain shooting ranges.
“State fish and wildlife agencies are proud to be funded by the hunting, fishing and boating community through this American system of conservation funding, which has been a successful model for many years,” said Rex Amack, President of the Association of Fish and Wildlife Agencies and Director of the Nebraska Game and Parks Commission. “This year’s record Wildlife and Sport Fish Restoration apportionment is vital in order for state agencies to continue their work to sustain healthy fish and wildlife populations and provide opportunities for all to connect with nature.”
Sport Fish Restoration is funded by the collection of excise taxes and import duties on sport fishing equipment, motorboat and small engine fuels, and pleasure boats. Sport Fish Restoration funds are apportioned to the states based on a formula that includes the land and water area, inland waters and the Great Lakes and marine coastal areas where applicable, and the number of paid fishing license holders. States, the District of Columbia, commonwealths, and territories use the funds to pay for stocking fish; acquiring and improving sport fish habitat; providing aquatic resource education opportunities; conducting fisheries research; maintaining public access, and the construction at boat ramps, fishing piers, and other facilities for recreational boating access.
More than 62 percent of Wildlife Restoration funds are used to buy, develop, maintain, and operate wildlife management areas. Since the program began, state, commonwealth, and territorial fish and wildlife agencies have acquired 68 million acres through fee simple, leases, or easements, and operated and maintained more than 390 million acres for hunting since the program began. In addition, agencies certified over 9 million participants in hunter education.
“This source of conservation funding is important not only measured by its dollar amount, but also by legislative safeguards preventing its diversion away from state fish and wildlife agencies,” said Rowan Gould, acting Director of the U.S. Fish and Wildlife Service. “For states working to ensure a future for fish and wildlife – and opportunities for people to enjoy them – precious few programs offer this level of support and reliability.”
Numerous species including the wild turkey, white-tailed deer, pronghorn antelope, American elk, and black bears have increased in population due to improved research and habitat management funded by Wildlife Restoration. In the program’s history, fish and wildlife agencies have assisted more than 9.2 million landowners on fish and wildlife management. States, commonwealth, and territorial fish and wildlife agencies have improved more than 35 million acres of habitat and developed more than 44,000 acres of waterfowl impoundments.
Since the inception of the Dingell-Johnson Sport Fish Restoration Act, states, commonwealth, and territorial fish and wildlife agencies have acquired 360,000 acres through fee simple, leases, or easements. They have operated and maintained more than 1.5 million acres annually and they stocked over 6.8 billion fish and restored more than 1.7 billion fish throughout the country; renovated or improved 6,400-boat access sites; and had over 11.9 million participants in the aquatic resource education program.
You can see the state, commonwealth and territory funding allocations by visiting: http://wsfrprograms.fws.gov/.
Sturm, Ruger & Company, Inc. To Report 2008 Results And File Annual Report On Form 10-K On Tuesday, February 24
February 24, 2009
SOUTHPORT, CONNECTICUT- Sturm, Ruger & Company, Inc. (NYSE-RGR) will file its 2008 Annual Report on Form 10-K on Tuesday, February 24, 2009, after the close of the stock market. The Form 10-K will be available on the SEC website at www.sec.gov and the Ruger website at www.ruger.com/corporate/ as soon as practicable after the filing. Concurrent with the posting of the Form 10-K, an earnings release containing the 2008 financial statements will be issued. However, we urge investors to read our complete Form 10-K in order to have adequate information to make informed investment judgments.
About Sturm, Ruger
Sturm, Ruger was founded in 1949 and is one of the nation’s leading manufacturers of high-quality firearms for the commercial sporting market. Sturm, Ruger is headquartered in Southport, CT, with plants located in Newport, NH and Prescott, AZ.
The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company including lawsuits filed by mayors, attorneys general and other governmental entities and membership organizations, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.
Media Contact:
Sturm, Ruger & Company www.ruger.com/corporate/
Outdoor Channel Holdings to Host 2008 Fourth Quarter Conference Call on February 26
February 24, 2009
TEMECULA, California — Outdoor Channel Holdings, Inc. (NASDAQ:OUTD) announces that management will host its regular quarterly investor conference call at 2 p.m. PST (5 p.m. EST) on Thursday, February 26, 2009, to review the financial results for its 2008 fourth quarter and year ended December 31, 2008.
Investment professionals are invited to participate in the live call by dialing 800-573-4752 (domestic) or 617-224-4324 (international) and using participant passcode 22697955. The call will be open to all other interested parties through a live, listen-only audio Internet broadcast in the Investor Relations section of the company’s Web site, www.outdoorchannel.com.
For those who are not available to listen to the live broadcast, the call will be archived online for one year. A telephonic playback of the conference call also will be available through Thursday, March 5, 2009, by calling 888-286-8010 (domestic) or 617-801-6888 (international) and using participant passcode 87661859.
About Outdoor Channel Holdings, Inc.
Outdoor Channel Holdings, Inc. owns and operates Outdoor Channel, America’s leader in outdoor TV. The national network offers programming that captures the excitement of hunting, fishing, shooting, off-road motorsports, adventure and the Western lifestyle. Outdoor Channel can be viewed on multiple platforms including high definition, video-on-demand, as well as on a dynamic new broadband website. For more information about the company or Outdoor Channel, please visit www.outdoorchannel.com.
Media Contact:
Tom Hornish (951) 699-6991, ext. 104 or thornish@outdoorchannel.com
Retirement Game Planning article
February 22, 2009
Ol’ Red posted this at Woody’s hunting forum last month……..
Periodic market downturns may result in significant investment losses, particularly within retirement accounts. If you are faced with this situation, you may have to reconsider when, or even if, you can retire.
The effects of a decline
Historically, the stock market has had its ups and downs. How any substantial market change impacts your retirement outlook may depend on how close you are to retirement. If you plan on working and contributing to your retirement savings for many more years, you may have time to recoup losses to your accounts due to poor investment performance. But if you’re closing in on retirement or you’re already there, a dip in your savings may affect how much you can safely withdraw and how long your savings can last.
To demonstrate, assume you and your spouse have $1 million in retirement savings, expect an annual average rate of return of 7%, and estimate that you presently need $100,000 annual retirement income for both of you to live comfortably, of which $30,000 will come from Social Security. Presuming withdrawals increase by 3% each year to offset the effects of inflation, your savings will last about 22 years.
However, a decrease of 14% in the value of your savings in one year shortens the duration of your savings by over 4 years.
What are your options?
If you’re fortunate, even a significant decrease in savings may not impact your retirement income dramatically. You may have other sources of fixed income such as company-sponsored pensions, so you won’t need to rely on your savings to provide much of your income. Or you may be able to offset the effect of diminished savings by spending less — forgoing that planned cruise, putting off buying that new car, or making smaller gifts to children and grandchildren, for example. But if you rely on your savings for most of your retirement income, considerable investment losses of the magnitude recently experienced can require major lifestyle changes. Here are a few ideas to help you cope with the erosion of your retirement savings.
Continue working
You may have to delay the retirement party a little longer. Postponing retirement lets you continue to add to your retirement savings, which can offset losses caused by poor investment performance. Also, working allows you to delay withdrawing from your savings. That could allow more time for your retirement accounts to recover from investment-related losses.
Delay taking Social Security
Social Security may be the only source of fixed income you’ll have in retirement. If you delay applying for benefits until your full retirement age, you can get as much as 30% more in monthly payments compared to taking benefits early. And, for each year you defer benefits past your full retirement age (between 65 and 67, depending on when you were born) to age 70, your benefit is increased by 8%. That could mean an additional $500 or more in your benefit check each month–and that doesn’t include annual cost of living increases.
Consider fixed income investments
Investments such as single premium immediate annuities (SPIAs) provide an income for the rest of your life, or for the combined lives of you and your spouse. However, while the income is dependable (subject to the claims-paying ability of the annuity issuer), you generally don’t have access to the money you paid for the SPIA and you may not be able to change the amount of income payments or their duration once you’ve started.
Red
Cabela’s stock jumps
February 21, 2009
Associated Press, 02.20.09, 09:21 AM EST
Shares of outdoor sports equipment retailer Cabela’s Inc. jumped 17 percent in premarket trading Friday after the company’s results beat expectations and an analyst said clearance sales of firearms helped shore up the company’s balance sheet.
Thomas Weisel Partners LLC analyst Jim Duffy said in a note to investors that Cabela’s capitalized on higher store traffic to reduce inventory, helping it to reduce net debt from prior-year levels.
“On the heels of a sharp downturn in the economy and the change of administration with the November elections, strength in firearms and ammunition,” Cabela’s fourth-quarter results beat Wall Street estimates, Duffy said.
The Sidney, Neb.-based company said Thursday its fourth-quarter profit slid 12 percent, but was still above expectations. Net income fell $49.4 million to $56.2 million, or 84 cents per share. Analysts polled by Thomson Reuters predicted profit of 67 cents per share.
Meanwhile, same-store sales, or sales at stores open at least a year, rose 2.2 percent in the quarter. Same-store sales are considered a key performance indicator because they measure growth at existing stores rather than newly opened ones.
Duffy raised his 12-month price target by $1 to $8, but said he was keeping his estimates more conservative than the company’s guidance because the strength in demand for firearms may have been an anomaly based on fear regulations will change with a new administration in the White House.
He rates the stock “Peer Perform.”
Cabela’s stock rose $1.04, or 17 percent, to $7 in premarket trading after closing Thursday at $5.96.
STIMULUS BILL EDITORIAL EXEGESIS
February 18, 2009
I got this from an email from the Patriot Post.
“Stimulus: Say this for the $787 billion behemoth that Congress voted on Friday — never in our history has a more important vote been cast on legislation with so little scrutiny. Couldn’t they at least read the thing before voting on it? The 1,434-page bill is, in a word, massive. It’s full of details that deserve to be given a close look before anyone votes. … The bill that President Obama called ‘the largest change in domestic policy since the 1930s’ was jammed down Congress’ throat, breaking almost all the promises of bipartisanship and transparency along the way. House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid vowed to give members of Congress at least 48 hours to look at the historic legislation before them. After all, the bill will spend the equivalent of nearly 9% of our GDP while adding $1.2 trillion to our national debt. Obama vows to ‘create or save’ 3.5 million jobs at a cost of $263,000 per job. Shouldn’t it get even a little bit of scrutiny? Apparently not. … Why the haste? Surely one reason is the bill is stuffed with pork and short of real stimulus. Its authors don’t want the details out. They shouldn’t be surprised, then, when voters bridle at what they’ve been saddled with.” –Investor’s Business Daily
Another email from a friend……
