Posts Tagged ‘economic’
A Federal Government Imposed Recession
By Doc Vega The United States had an opportunity to turn around an ailing economy and fix a disastrous foreign policy, but after the re-election of President Obama all bets are off. This rigid ideologue is committed to forcing America to the whim of his world view. A destructive President re-elected to wreak havoc on US economy! Since 2009 and the election of President Barack Obama America had been under an ideological assault that pit’s the traditional heritage of American freedom and self reliance against a gigantic government sanctioned welfare state that has been designed by the Democratic party to buy votes. This, they rationalize, will perpetuate their rule, but only at the cost of weakening the economy. As the federal government spends itself deeper into a deficit for [...]
Less than a “Deal”
Three days ago as 2013 raced up upon us, the infamous ‘Fiscal Cliff’ was brought to a halt by the passing of a less than evenly negotiated deal. After all, Obama and Senate Democrats barely budged on their tax increases for households making more than 250,000 dollars and failed to cut the deficit as Obama promised the American people. The fact is is that this deal is so tangled in its own cobwebs that it actually adds four trillion dollars to the deficit. It seems very ironic that to avoid a dramatic economic downturn, President Obama actually adds to the deficit hence prolonging full economic recovery. Before the deal was passed, polls showed that the majority of Americans actually held more faith in Democrats rather than Republicans to bring a good deal to the table to prevent [...]
Why Organize? Problems and Promise in the Inner City by Barack Obama
WHY ORGANIZE? Problems and promise in the inner city by Barack Obama Over the past five years, I’ve often had a difficult time explaining my profession to folks. Typical is a remark a public school administrative aide made to me one bleak January morning, while I waited to deliver some flyers to a group of confused and angry parents who had discovered the presence of asbestos in their school. “Listen, Obama,” she began. “You’re a bright young man, Obama. You went to college, didn’t you?” I nodded. “I just cannot understand why a bright young man like you would go to college, get that degree and become a community organizer.” “Why’s that?” “’Cause the pay is low, the hours is long, and don’t nobody appreciate you.” She shook her head [...]
White House Statement on May Unemployment
Statement on the Employment Situation in May WASHINGTON, DC – Alan B. Krueger, Chairman of the Council of Economic Advisers, issued the following statement today on the employment situation in May. You can view the statement HERE. The Employment Situation in May Posted by Alan B. Krueger on June 1, 2012 at 9:34AM EDT Problems in the job market were long in the making and will not be solved overnight. The economy lost jobs for 25 straight months beginning in February 2008, and over 8 million jobs were lost as a result of the Great Recession. We are still fighting back from the worst economic crisis since the Great Depression. Today we learned that the economy has added private sector jobs for 27 straight months, for a total of 4.3 [...]
Bad news for Obama – The Cook Report
By Charlie Cook Regular readers of this column know that in analyzing the 2012 presidential race, I have been preoccupied—some would say obsessed—with the state and direction of the U.S. economy. Presidential elections have many moving parts and can turn on many things, but rarely is a single factor more important than the economy when an incumbent is up for reelection. The latest NBC News/Wall Street Journal poll, conducted among 1,000 adults from April 13-17, supports that view. Overall, 49 percent said they approve of the job that President Obama is doing, and 46 percent said they disapprove. The poll, conducted by Democrat Peter Hart and Republican Bill McInturff, pegs Obama’s approval rating just 1 point higher than the current averages by RealClearPolitics and Huffpost’s [...]
If the United States were a stock, America, Inc would have a 44 Trillion Negative Net Worth
Mary Meeker has created quite a buzz with her cover story this week in Bloomberg Businessweek. It is based on her analysis of the U.S. as if it were a corporation. Her assessment? The bottom line on USA Inc.? Cash flow and net worth are negative, profits are rare, and off-balance-sheet liabilities are enormous. The "company" has underinvested in productive capital, education, and technology--the very tools needed to compete in the global marketplace. Lenders have been patient so far, but the sky-high rates on the sovereign debt of Greece, Ireland, and Portugal suggest what might lie ahead for USA Inc. shareholders and our children. By our rough estimate, USA Inc. has a net worth of negative $44 trillion. That comes to $143,000 per capita. Negative. You can find their slide deck [...]
Government sees Healthcare benefits swamping economy
Government sees Healthcare benefits swamping economy The United States will find little relief from its bleak long-term fiscal outlook so long as growing federal healthcare and retirement programs gobble up more and more of the country's resources, said a new economic report issued on Wednesday. The findings by the non-partisan Congressional Budget Office came as the Obama administration and Congress were struggling to find ways to make ends meet amid $1.5 trillion annual budget deficits and a national debt that, at $14.3 trillion, is seen as posing a danger to the nation. "The aging of the population and the rising cost of health care would cause spending on the major mandatory healthcare programs and Social Security to grow from roughly 10 percent of GDP today to about 15 [...]
Japan Quake / tsunami will cost $235 billion or a third of Obama stimulus disaster
On top of the estimated 10,000 lives that will be lost because of Japan’s devastating earthquake and tsunami, as well as the deepening nuclear crisis, the country will see heavy economic losses. Economists estimate that the direct economic hit will total between 10 to 16 trillion yen ($125 billion to $200 billion), with prolonged power shortages possibly preventing the “V shaped” economic recovery that followed the 1995 Kobe earthquake. "The economic cost of the disaster will be large," economists at JPMorgan said. "There has been substantial loss to economic resources, and economic activity will be impeded by infrastructure damages (like power outages) in the weeks or months ahead." On Monday and Tuesday, Japanese stocks experienced their worst two-day drop since the [...]
Obamanomics Is Rejected on World Stage
And as officials frenetically tried to paper over differences among the Group of 20 members with a vaguely worded communiqué to be issued Friday, there was no way to avoid discussion of the fundamental differences of economic strategy. After five largely harmonious meetings in the past two years to deal with the most severe downturn since the Depression, major disputes broke out between Washington and China, Britain, Germany and Brazil. Each rejected core elements of Mr. Obama’s strategy of stimulating growth before focusing on deficit reduction. Several major nations continued to accuse the Federal Reserve of deliberately devaluing the dollar last week in an effort to put the costs of America’s competitive troubles on trading partners, rather than taking politically tough [...]
NO KIDDING: Feds Spent $800,000 Stimulus on Genital-Washing
The National Institute of Mental Health (NIMH), a division of the National Institutes of Health (NIH), spent $823,200 of economic stimulus funds in 2009 on a study by a UCLA research team to teach uncircumcised African men how to wash their genitals after having sex. The genitalia-washing program is part of a larger $12-million UCLA study examining how to better encourage Africans to undergo voluntary HIV testing and counseling – however, only the penis-washing study received money from the 2009 economic stimulus law. The washing portion of the study is set to end in 2011. “NIH Announces the Availability of Recovery Act Funds for Competitive Revision Applications,” the grant abstract states. “We propose to evaluate the feasibility of a post-coital genital hygiene study among men [...]
