Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

3/11/2013

Dem: Private Sector is Struggling because Federal Govt. is Shrinking

Posted by Brian

Delegate Eleanor Holmes-Norton (D-DC) posited that the private sector is not growing because the federal government is shrinking!  She stated with a straight face:

“What is shrinking is not the private sector – it’s hard for them to grow because the public sector, both the state sector and the federal government is shrinking and they are having to grow it all by themselves and that is why we don’t have much growth,” Holmes Norton said.


Holmes-Norton is representative of the far too many of the mentally defective Mensa-wannabe scholars running around our nation's capital these days.
Video at CNS News:
Enhanced by Zemanta

2/21/2013

Americans' and GOP Being Played by Obama on Sequestration

The American Public is being Duped! The Sequester is the Least of Our Problems!
Everyone is all in a tizzy over the upcoming sequestration.  Massive cuts to the military, border control, the FBI, federal prosecutors, transportation, education (every good liberal plan always has to be about how it hurts the children), and a host of other things are being thrown around.  Make no mistake, Obama will allow the cuts to unfold, and then promptly blame the Republicans for all of it.  The whole thing is political gamesmanship meant to destroy the GOP, and Obama is light years ahead of GOP leaders Boehner, Cantor, and the rest of this feckless bunch.

Keep in mind also, that we are talking about $85 Billion in so-called "cuts". This represents about 2% of the overall federal budget.  It wasn't that long ago that the Federal Government was able to "find" $60 Billion overnight for Hurricane Sandy Relief, which was loaded with pork-barrel spending having nothing to do with "relief" (Link).  You know? The one "Krispy Kreme" Christie squealed (Link) about like a stuck pig? But yet, they can't find $85B worth of waste in the tangled bureaucracy of D.C. to avoid these automatic cuts?

Of course, the cuts won't come from non-essential services, or those mandated by the Constitution to be the primary purpose of the Federal government.  No, instead our elected officials will continue to fund things like paying senior citizens $1.2 million to play video games, so we can study their effect on them.(link) Then there is the essential service of spending $2.2 Billion a year to provide free cell phones to people, because we all know that having a cell phone has now been reclassified as a basic human right. How about $4 million to build the IRS its own TV studio?  Who could oppose that essential spending? Of course, we all know that it is essential that the government provide all-expense paid trips to federal employees for conferences in Las Vegas and Hawaii at a cool million dollars a pop.

I can think of aanother quick way to save money right off of the top.  How about Barack Obama cuts the number of vacations, golf trips, and other non-essential trips he takes by half.  This would save $700 MILLION per year of the estimated $1.4 BILLION (link) he and his family currently cost.  (In contrast, England's Royal Family cost the British $60 million a year.) He might even be able to save more if he can convince Michelle to actually ride on the same plane as him, instead of taking earlier flights when he is held up by actually performing Presidential duties.  I know its a huge sacrifice for her to make, but in the interest of actually appearing that she gives a crap about the rest of the serfs around the country, this might be a nice gesture.

Of course, none of this is going to happen.  The whole sequester song-and-dance act is not about coming up with budget solutions, else Harry Reid would have brought a budget to the Senate floor at least once during the last 4 years, as he is required by law to do. But, why worry about the law when the whole purpose is to create a fiscal crisis and blame it on the Republicans?

Also keep in mind that the sequester is the idea of the Obama White House, which he now blames on the GOP.  (Link) Let's be clear.  Obama is lying!  The Washington Post, which is liberal, gives Obama "Four Pinocchio's" out of four on his claim.

Back in July of 2011, White House national economic Director Jack Sperling said that the White House proposed the idea of the sequester. It was then brought to Senate Majority Leader Reid, who it was said looked like he wanted to "throw up" when he was first  told.  They then explained to him that it would work because they "would design it so that half the threatened cuts would be from the Defense Department….The idea was to make all of the threatened cuts so unthinkable and onerous that the supercommittee (tasked with making additional cuts) would do its work and come up with its own deficit reduction plan".

 Remember back in 2011when President Obama supported the sequester cuts?  Now, on February 19, 2013, he gives a speech on how devastating they will be.


The sequestration is a political calculation, not an economic solution, perpetrated by, and being carried out by, the White House, for two years. It is a plan to corner Republicans, not to cut spending, but to allow Obama and the Democrats to continue spending at unsustainable rates (GAO analysis, not mine) for the foreseeable future.  The Republican leadership, under Boehner, who moronically signed onto the plan only weeks after the original proposal, is too stupid to explain it to the American people. Furthermore, the mainstream media is complicit in furthering the propaganda from Obama and the Democrats in convincing the American people that this is a Republican plan, and that it is their fault.  Worse, most Americans are completely unaware of the coming economic collapse being purposefully driven by this Administration, statist Democrats, and big government Republican leadership, because of the media's total dereliction in providing people actual facts, choosing instead to provide White House talking points  in print ond on the "news" programming.

Sadly, if there is not one person, Republican or Democrat, who is willing to stand up to Obama and the White House and put a halt to his agenda and his spending, the sequestration will be nothing compared to the economic disaster that is looming in the near future.

Posted by Brian
Enhanced by Zemanta

1/30/2013

Economy Shrinks in 4th Qtr, Experts Shocked...Again!

Posted by Brian
H/T to The Drudge Report

The holiday season is historically the time of year that retail stores ensure that they turn a profit for the year.  Specifically, "Black Friday", the day after Thanksgiving, is given that moniker for the reason that the red ink on their books goes into the black.
Therefore, you would expect that the fourth quarter would produce some of the largest growth in the economy due to holiday buying sprees. Nay, nay.
The latest report from the Commerce Department shows that the economy shrank 0.1% in the fourth quarter.  What is the Dem response? That this is the "best-looking contraction in U.S. GDP you'll ever see." Excuse me? The spin is that this is a positive?  If this were a Republican administration, they would be screaming bloody murder!
What these so-called experts fail to take into account is that both business and the consumer have little confidence in the fiscal policies of Barack Obama. People are being tighter with the money that they still have.  Businesses are putting off hiring, or are failing to reinvest in their companies in the form of machinery, materials, etc.  People are unsure of what is around the corner.  And for good reason: millions of Americans saw a decrease in their paychecks on their first paycheck of the new year due to an increase in the Social Security tax, which Obama and the media skillfully hid to the public.
To be fair, economists are starting to predict a potential new recession due to out-of-control federal spending, of which Obama and the statists want to increase even more, and more new taxes and federal mandates on business in the pipeline due to ObamaCare.
I wonder how many more times that the media will report that experts are "shocked" at the state of the economy given the disastrous economic policies of Obama and his imperial presidency.
The dumbing down of America continues.

GDP Shows Surprise Drop for US in Fourth Quarter  
Published: Wednesday, 30 Jan 2013 | 8:11 AM ET

The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
Continue Reading


Enhanced by Zemanta

1/20/2013

Debt, Unemployment, Disability: Obama's 1st Term Legacy

Posted by Brian

Obama's first term has come to an end with a thud. On the economy and jobs, one would have to, as Hillary Clinton might say, suspend disbelief to argue that Obama's economic policies have worked.
Here are several stories from CNSNews which chronicle the complete failure of those policies:

First Term: Obama Increased Debt $50,521 Per Household; More Than First 42 Presidents in 53 Terms Combined
(CNSNews.com) - During Barack Obama’s first term as president of the United States, the debt of the federal government increased by $5.8 trillion, which exceeds the combined debt accumulated under all presidents from George Washington through Bill Clinton (my emphasis). Continue Reading

First Term: Americans ‘Not in Labor Force’ Increased 8,332,000
(CNSNews.com) - The number of Americans age 16 or older who decided not to work or even to seek a job increased by 8,332,000 to a record 88,839,000 in President Barack Obama’s first term, according to the Bureau of Labor Statistics.    At the same time, the number of retired workers collecting Social Security increased by only 4,234,480. Continue Reading

First Term: Americans Collecting Disability Increased 1,385,418—Now 1 for Each 13 Full-Time Workers
(CNSNews.com) - During President Barack Obama’s first term, the number of Americans collecting federal disability insurance increased by 1,385,418 to a record 8,827,795. As a result, there is now one person collecting disability in this county for every 13 people working full-time. Forty-two years ago, in December 1968, there were 51 people working full-time in this country for each person collecting disability. Continue Reading

After all the pomp and circumstance of tomorrow's swearing-in ceremony and the multi-million-dollar galas, President Obama and Congress have one hell of a job ahead of them.  Economists are expecting "sub par growth" for 2013, with the $17T debt being the chief drag on the economy. Businesses are hesitant to expend capital due to the uncertainty in the economy, which will also create uncertainty in the markets.  Both indicate slow growth, to near stagnation.   One of the biggest fears for business is changing regulations from the government and the EPA.  While Obama and the Democrats blame "Big Business"  for hoarding profits, it is the actions and words of Barack Obama himself which is creating the fear.
On both the debt and the regulations, Barack Obama gives no indication of changing course on either one.  He has been unwilling up to this point to even consider a reduction in spending which would lower the deficits below $1T.  His entire budget is based on tax increases for the "rich", which nearly every economist agrees will not provide any significant increase in revenue to the Federal government, and which over the long-term would yield less revenue.  Any reduction in spending has been met with stubborn resistance, or a plan to delay spending cuts until some unforeseen period in the future.
This inability to deal in any meaningful way with the debt is combined with the uncertainty of what new regulations and meddling the Feds have in store in the future.  The EPA is like a virus, constantly mutating what standards that business must meet. They have unilaterally mandated more and more stringent air quality standards on the power industry, which costs the companies millions of dollars in upgrades to to individual plants.  For those who don't meet the unrealistic time line imposed for some of these changes, the companies are assessed multimillion dollar fines and penalties, and ordered to prop up "green energy" companies more millions.
Then there is the NLRB,  which has been wracked by allegations and resignations of corruption within its ranks. Of course, there is the case of the NLRB suing Boeing after the company announced it was moving the production of its Max 737 to South Carolina (a right-to-work state) from its Washington facility (a union shop). It was a clear case of union retaliation, which the Obama NLRB went along with. The case was later dropped, but not before it had a chilling effect not only Boeing, but across the business community.

If Obama stubbornly refuses to change course on his economic policies we will continue to see the kind of pathetic economic numbers produced in his first term. Worse, if and when the Fed is finally forced to increase the interest rate, well, you ain't seen bad yet.



Enhanced by Zemanta

10/31/2012

SURPRISE!! September Jobs Numbers Revised Down By HALF

Posted by Brian

REPORT: SEPTEMBER JOBS NUMBERS INFLATED
by WILLIAM BIGELOW  31 Oct 2012, 3:11 PM PDT

So you were suspicious about those September job creation numbers touted by the Obama Administration? You had good reason to be.

The payroll data firm ADP, which recently became partners with Moody’s Analytics, revised their estimate of the September jobs created down from 162,000 to 88,200. That new number is considerably less than the Labor Department’s count of 114,000, which included 104,000 from the private sector.
Continue Reading
Enhanced by Zemanta

10/29/2012

Is Labor Dept. Using Storm To Delay Poor Job Numbers?

Posted by Brian
Coming off a September jobs report that showed unemployment dropped to 7.8%, which was heralded by those on the left as proof that Obama has the country on the right track, comes the news that the Labor Department may "delay" the release of the October jobs' number. Is the regime now using Hurricane Sandy as an excuse to delay the jobs report until after the election?
Soundly panned by those on the right as trickery, the September jobs report had business people and economists all over the country flummoxed.  How could an increase of a mere 114K jobs move the unemployment number from 8.1%  to 7.8%. The answer, of course, is that more people dropped out of the workforce than were employed, thus decreasing the total number of persons counted in their calculations. Over the last year alone, over 1.1 MILLION people have dropped out of the workforce, thus are not being counted. If the same number of people were still being counted in the workforce as when Obama took office, the unemployment number would be around 10.7%.
Trying to ride the "encouraging" September jobs report,  the Obama campaign would be hurt by a poor jobs report just a week before the election.   Hurricane Sandy provides a timely excuse to delay a poor jobs report until after people have cast their ballots.
How convenient!


Labor Department Says No Decision Yet on Whether to Delay Jobs Report
By Eric Morath

The Labor Department said Monday that it has yet to make a decision on whether to delay Friday’s closely-watched October employment report due to the effects from Hurricane Sandy.

Federal government offices in Washington are closed Monday and may be shut again Tuesday due to the storm. It isn’t clear if the closure would cause a delay in processing the data.

“We will assess the situation when the weather emergency is over and notify the press and public of any changes at that time,” said Gary Steinberg, spokesman for the Bureau of Labor Statistics, the data arm of the department.

The Labor Department is also scheduled to release its third quarter employment cost index Wednesday, and the third quarter productivity and weekly jobless claims reports Thursday.
Continue Reading

10/25/2012

NYT Krugman: Re-Elect Obama Or We End Up Like Greece

Posted by Brian

The ferret-like Paul Krugman has poked his head out and once again we will have another four years of a depressed economy, at least if he has anything to say about it.
The famed Keynesian (Marxist) and Nobel Prize winning economist (if that doesn't tarnish the award, nothing will), proves yet again, that he is not a bright man.  Oh, he has the intonation (like Barack Obama) to demonstrate that he hangs out in the rarefied air of New York's elite circles, dazzling his hangers-on with his "deep" insight on all things economics to give the illusion that he is. But like Chauncey Gardiner from the Peter Sellers movie "Being There", it doesn't take a rocket scientist to determine that he is a simple man spouting even simpler hogwash. Yet, he is celebrated by liberal elitists, who see him as some wunderkind instead of the ignoramus he is.
He has the cajones to say that electing Romney will lead us down a path of destruction similar to Greece.  Yet, it is Obama who is doing the exact things economically that Greece has done to put itself in the fiscal dire straits it now finds itself in.  Krugman's advice?  Continue doing it, but even more!
Mr. Krugman, do us all a favor and crawl back down into whatever hole you climbed out of until after November 6th. Oh, and quit embarrassing yourself!

NYT ECONOMIST: IF WE DON’T RE-ELECT OBAMA, WE’LL END UP LIKE GREECE Posted on October 25, 2012 at 6:02pm by Becket Adams




Paul Krugman: Double-Dip Recession If Romney Wins

If America doesn’t re-elect President Barack Obama and former Massachusetts governor Mitt Romney ends up winning in November, we had better prepare for some Greek-style economic ruin, thus saith left-leaning New York Times economist and noted Keynesian Paul Krugman.

“I think there’s a real chance that [Romney will] manage to pursue a policy in the first couple of years that simultaneously blows up the deficit and depresses the economy,” Krugman said during an interview on HuffPost Live Wednesday.
Continue Reading

Enhanced by Zemanta

9/26/2012

Poll: 69% of Business Owners Say Obama Policies Hurt Their Business

Posted by Brian

55 percent of small business owners would not start company today, blame Obama
September 26, 2012 | 10:39 am

Fifty-five percent of small business owners and manufacturers would not have started their businesses in today’s economy, according to a new poll that also reports 69 percent say President Obama’s regulatory policies have hurt their businesses
Continue Reading
Enhanced by Zemanta

8/08/2012

The Obama Blame Game

Posted by Brian
The "blame Bush" rhetoric having failed, Barack Obama has set his sights on a new villain for the pathetic state of the economy, especially where it concerns the 14.1% unemployment rate in the black community: it's everyone else's fault.

In an interview with Black Enterprise, Obama lays the blame for the high unemployment rate on city and state governments, as well as Congress.  This from a man who, three years ago, said of the economy, "Give it to me", "I'll take that responsibility".  But three years later, he has yet to take responsibility for anything that has happened on his watch.

In 2009 he said, "My job is to solve problems, not to stand on the sidelines and carp and gripe". Well, that's all you do, Mr. President.  Whether it's the "economic headwinds" coming from Europe, the "hand we were dealt" from George Bush, or the "tsunami in Japan", or any one of a dozen other things to blame, Obama will predictably take zero personal responsibility for his policies.

Just two weeks ago, Obama flatly stated, "we tried our plan - and it worked!"

Well, which is it Mr. President, have they worked, or not?  You don't get to have it both ways.  The fact is: You haven't solved anything.  You've made things worse.

The American people didn't elect you to piss and moan about the "cards you were dealt".  You knew the economy was in a recession before you took office, and you told the American people that you wanted the job, and had a plan to fix it. A lot of us who didn't vote for you knew you were blowing smoke up our ass, but there were many who bought into your "messiah" complex.  Now that many of those folks have awakened from their slumber (or nightmare), and see that it was all "rainbows and unicorns" campaign rhetoric, you try to convince us that we are all in this together, and need to share the collective blame.

Now you say that we need to elect you to a second term to really get it right.  Sorry, Mr, President, but you own this economy, and you don't get a mulligan on this one!

Obama in 2009 and 2011

Obama Blames State and Local Governments, Congress for 14.1 Percent Black Unemployment
3:09 PM, AUG 7, 2012 • BY DANIEL HALPER

In an interview with Black Enterprise magazine, President Barack Obama blames state and local governments, as well as Congress, for over 14 percent black unemployment.

"Black unemployment still stands at nearly 14%. How do you communicate that the economy is headed in the right direction?," the editor in chief of Black Enterpriseasks Obama.
Continue Reading Here
Enhanced by Zemanta

7/16/2012

Business Leaders Hit Back: 'Obama, You Don't Know SH*T About Business'

Posted by Brian

'And what do you know?': Business leaders hit back at Obama after he says the wealthy AREN'T responsible for their own success 
By TOBY HARNDEN
PUBLISHED: 00:43 EST, 16 July 2012 | UPDATED: 12:05 EST, 16 July 2012  

Attack: Barack Obama said in a speech in Virginia on Saturday that small business owners could not claim credit for their own success

America's leading small business association has slammed Barack Obama for showing 'an utter lack of understanding' of the country's entrepreneurs when he told them: 'If you've got a business - you didn't build that. Somebody else made that happen.'

In a hard-hitting statement to Mail Online, the National Federation of Independent Businesses (NFIB) said: 'What a disappointment to hear President Obama's revealing comments challenging the significance of America's entrepreneurs.

'His unfortunate remarks over the weekend show an utter lack of understanding and appreciation for the people who take a huge personal risk and work endless hours to start a business and create jobs.'
Continue Reading Here
Enhanced by Zemanta

7/09/2012

Obama's New Tax Affects 900K Small Businesses

Posted by Brian
Want to see how Taxmageddon will affect YOU?
Click Here!

WITH TODAY'S TAX FLIP-FLOP OBAMA MOVES LEFT OF PELOSI, HITS 900K SMALL BIZS
by JOHN NOLTE  9 Jul 2012, 10:52 AM PDT

With the economy threatening to fall into another recession and job growth plummeting, Obama came before the American people today demanding taxes be raised on those making over $250,000 a year, including what he admitted would include 3% of small businesses. Even if that 3% is correct, which is disputed, that 3% means a tax increase on 900,000 small businesses.
Continue Reading Here
Enhanced by Zemanta

Obama: Tax Pledge? I'm Raising Taxes On EVERYONE After The Election

Posted by Brian
Obama, with his usual backdrop of hapless dupes behind him, announced that he is extending the "Bush" tax cuts for Americans who make less than $250K/yr. for one more year, after which they automatically increase for all Americans.

Taxes on business who make over $250K will see their tax rates jump to 39%.  Any guesses on what effect that will have on small-business hiring?

Obama Proposal Increases Tax Rates for All Income Brackets
by 2014 By Matt Cover July 9, 2012

(CNSNews.com) – President Barack Obama today proposed allowing the income tax rates enacted in the Bush tax cuts of the last decade to expire at the end of this year for people earning more than $250,000 and at the end of next year for everyone else.

Under current law, the lower tax rates will expire at the end of 2012. Under Obama's proposal, they will expire at the end of 2012 for those making more than $250,000 and at the end of 2013 for Americans making less than $250,000.

Video: Obama with his obligatory photo props (dupes) behind him

Enhanced by Zemanta

Allen West “(Obama would) rather have you be his slave", "be economically dependent upon him”

Posted by Brian

‘TRUE RACISM’: ALLEN WEST CALLS OUT LIBERALS WHO THINK BLACK CONSERVATIVES NEED ‘APPROVAL’ FROM THEIR ‘MASTERS’
Click Here to read article





Enhanced by Zemanta

Voters: Good News Is We Got Change. Bad News Is It's Worse

Posted by Brian

Common sense should tell us that things like "change" don't exist in a vacuum.  Unfortunately for a lot of young people who voted for the first time in 2008, critical thinking skills are not exactly taught in our public schools and bastions of higher education any longer. "Change" has positive connotations, therefore it must be a good thing.  Three and a half years later, voters agree that change has happened, but it was for the worse.  Critical thinking would have told them that the scale tilts both directions.


The Hill Poll: Majority of voters believe Obama has changed country for worse
By Sheldon Alberts - 07/09/12 05:00 AM ET

Two-thirds of likely voters say President Obama has kept his 2008 campaign promise to change America — but it’s changed for the worse, according to a sizable majority.  

A new poll for The Hill found 56 percent of likely voters believe Obama’s first term has transformed the nation in a negative way, compared to 35 percent who believe the country has changed for the better under his leadership.
Continue Reading Here
Enhanced by Zemanta