[...]you made running a blog glance[...]…

fred5678 on December 22, 2012 at 6:21 PM

Yup, Kelo was a disaster.

The left’s assault on property rights has barely begun. Heaven help us if Obama packs the USSC and the Senate approves a few UN treaties.

Everybody loves him, especially our former enemies, so they’ll keep buying our junk Treasury bonds…
ShainS on December 22, 2012 at 5:42 PM

Hey, you know if those Chinese were really clever, they might see that Obama’s spending will destroy our economy, so they would enable it by buying our bonds. Cheaper than waging a war, they might think.

Nawww, that would never happen.

In spite of repeated efforts, the redeveloper (who stood to get a 91-acre (370,000 m2) waterfront tract of land for $1 per year) was unable to obtain financing, and the redevelopment project was abandoned. As of the beginning of 2010, the original Kelo property was a vacant lot, generating no tax revenue for the city.[2] It is still vacant. [13]

Pfizer, whose employees were supposed to be the clientele of the Fort Trumbull redevelopment project, completed its merger with Wyeth, resulting in a consolidation of research facilities of the two companies. Both companies had had a major presence in southeastern Connecticut for many years, meaning that only one facility would likely survive the merger. Ultimately, Pfizer chose to retain the Groton campus on the east side of the Thames River, closing its New London facility in late 2010 with a loss of over 1000 jobs. This coincided with the expiration of tax breaks on the New London site that would have increased Pfizer’s property tax bill by almost 400 percent.[14][15]

After the Pfizer announcement, the San Francisco Chronicle in its lead editorial called the Kelo decision infamous:

The well-laid plans of redevelopers, however, did not pan out. The land where Susette Kelo’s little pink house once stood remains undeveloped. The proposed hotel-retail-condo “urban village” has not been built. And earlier this month, Pfizer Inc. announced that it is closing the $350 million research center in New London that was the anchor for the New London redevelopment plan, and will be relocating some 1,500 jobs.[16]

The SCOTASS refused to hear the case and let the lower court stand.
ThePrimordialOrderedPair on December 22, 2012 at 4:50 PM

Bad news. Very bad.

Yep, that’s the beginning of the end for contracts and another nail in the coffin for property rights.

petefrt on December 22, 2012 at 5:14 PM

Actually, just a continuation of this court’s smashing of personal property rights. See Kelo.

And Ron Paul’s commentary on Kelo.

Anyone want to bet the next president inaugurated in 2017 will be inheriting even worse numbers?

ButterflyDragon on December 22, 2012 at 4:59 PM

If you just give President Obama another two terms beginning in 2016, he’ll spend his every waking moment on creating jobs — I promise! Debt, schmedt.

Everybody loves him, especially our former enemies, so they’ll keep buying our junk Treasury bonds — I promise! Soon EVERYBODY will be a government employee and member of a public union; 0% unemployment — you’ll see! Cost, schmost. Liberty, schmiberty.

And if Americans are too stupid to repeal the 22nd Amendment before then, at least preserve the work and expand upon the legacy provided to that point and give those two terms to the next most deserving and nearly-as-qualified public servant: Michelle.

/Obama voter

The SCOTASS refused to hear the case and let the lower court stand.
ThePrimordialOrderedPair on December 22, 2012 at 4:50 PM

Bad news. Very bad.

Yep, that’s the beginning of the end for contracts and another nail in the coffin for property rights.

January 20, 2009
Unemployment Rate 7.8%
National Debt $10.6 Trillion
Employment Participation Rate 65.7%

November 2012
Unemployment Rate 7.7%
National Debt $16.3 Trillion
Employment Participation Rate 63.6%

So, we borrowed 5.7 trillion and all we have to show for it is a .01% drop in the unemployment number (due to people leaving the work force).

Furthermore, Our civilian labor force was 234,739,000 in January 2009. With a participation rate of 65.7% that means 80,515,000 were not working.

November 2012 our civilian labor force was at 240,441,000. With a participation rate of 63.6% that means 87,520,000 were not working.

So, we have been unable to keep job growth at a level to even break even with population.

An increase of 5,702,000 in the civilian labor force, but yet the increase of those not working was 7,005,000 people.

Anyone want to bet the next president inaugurated in 2017 will be inheriting even worse numbers?