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- Barack Obama Skipped Auntie Onyango’s Funeral… Went Golfing Instead (Updated)
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- Benghazi attack could have been prevented if US hadn´t ‘switched sides in the War on Terror’
- Russia Warns US with Nuclear Armed Jets
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- Our Lawless President Is Rewriting Drug Laws in Violation of the Constitution
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Tag Archives: Economy
If we don’t win in 2012 the U.S. is doomed.
(The Hill) — John Chambers, the chairman of Standard & Poor’s sovereign debt ratings, on Sunday estimated that it could take between 9 and 18 years for the nation to regain its AAA credit rating.
Chambers said the credit agency could further downgrade the national rating depending on whether President Obama and congressional leaders can agree on reducing the deficit.
Chambers said “it could take a while” for the U.S. to regain its perfect credit rating.
Presidential success can be measured in many ways—by the number of votes cast on a President’s behalf, by the number and nature of laws he’s signed, by the number of military conflicts he’s won or averted.
But a President’s success is most strongly linked with the quality of life of the people he leads. Unfortunately for our current President, by that measure Obama has thus far proved a quantifiable disaster. Let’s take a look at the numbers.
The 2012 Obama Presidential re-election campaign is now officially in full swing. It is a shovel ready project.
Obama knows how stupid Democrats are and it is on their stupidity he is depending, for had they any brains or long term memory he would lose in a landslide.
Nobody believed him then and nobody believes him now.
(NY Post)- Obama, heralding the latest dip in unemployment fig ures Friday, said:
“You should know that keeping the economy going and making sure jobs are available is the first thing I think about when I wake up in the morning and the last thing I think about when I go to bed each night.”
Sounds great, as it did on May 21, 2009 when he tried to beef up his Commander-In- Chief cred by saying:
“My single most important responsibility as President is to keep the American people safe. That is the first thing that I think about when I wake up in the morning. It is the last thing that I think about when I go to sleep at night.”
So, which one is the truth? Neither. He wakes up and goes to bed with one thought on his mind: Say whatever it takes to get re-elected.
Do you believe Friday’s government report that the unemployment (U.3) rate fell last month from 9.4 percent to 9.0 percent? How could the rate decrease when January only saw a reported increase in payroll employment of 36,000 jobs when some 150,000 new jobs are needed to be created each month just to stay even with population growth?
According to Friday’s Bureau of Labor Statistics report, a 0.4 percentage point decline in the unemployment rate means “the number of unemployed persons decreased by about 600,000.” Where did the other 564,000 January jobs come from as they cannot be found in the reported jobs data?
The jobs are phantom jobs created by faulty seasonal adjustments. As statistician John Williams (shadowstats.com) puts it, “the extraordinary severity and duration of the economic duress in the United States during the last three to four years has destabilized traditional seasonal-factor adjustments and the related monthly reporting.”
The first line of this article really cracks me up. Obama fulfilled his constitutional duty. Its the only part of the Constitution that he believes in, and he wouldn’t miss the chance to appear on TV and use his teleprompter. 1 Dragon
President Obama fulfilled his constitutional duty and gave his report on the state of the union. Here’s mine:
We’re in deep trouble.
You know why. Our debt has passed $14 trillion, and yet our current spending plans will make that worse. The U.S. debt will reach Greek levels in just 10 years.
But do not despair. If we make reasonable cuts to what government spends, our economy can grow us out of our debt. Cutting doesn’t just make economic sense, it is also the moral thing to do. Henry David Thoreau had it right when he “accepted(ed) the motto … that government is best which governs least.”
So what should we get rid of?
In the WSJ former AIG CEO Hank Greenberg recently posed a question:
The recently released list of businesses bailed out by the Federal Reserve was not as surprising to me as it was to many members of the general public.
What is clear from the list is that the notion of equal protection ensconced in the Constitution was missing in September 2008. Rather than trying to spread both the burden and benefit of the bailout evenly among members of the U.S. financial services industry, key decision makers at the Fed and Treasury arbitrarily determined which companies should become wards of the federal government (AIG) and which should be permitted to live on (Goldman Sachs and Morgan Stanley). Goldman Sachs was permitted to live by enjoying markedly lower interest rates and access to credit facilities amounting over time to approximately $600 billion.
Federal decision makers had six months following the Bear Stearns collapse in early 2008 to formulate an effective response to foreseeable liquidity difficulties in the U.S. financial-services industry. Instead, the bailout turned out to be a rush for funds that benefited some and punished others. Goldman Sachs, Morgan Stanley and others were permitted to become bank holding companies and have access to cheap federal funds, while AIG was denied this opportunity for reasons never fully explained. It is important that an independent body is convened to seek reasons for these actions.