Tag Archives: economy. Obama

Obama vows to veto House GOP’s bill to extend payroll tax cut – Washington Times

Obama being “bipartisan”:– “We won, you lost, so shut up”– “You gotta sit in the back”–“They Bring a Knife…We Bring a Gun”–“Get in Their Faces!”–“I don’t want to quell anger. I think people are right to be angry! I’m angry!”–“Hit Back Twice As Hard”–“We talk to these folks… so I know whose azs to kick.“–“A Republican victory would mean “hand to hand combat”–“It’s time to Fight for it.”–“Punish your enemies.”–“I’m itching for a fight.”–“The Tea Party are terrorist”–“lets take these sons-of-bitches out”

via Obama vows to veto House GOP's bill to extend payroll tax cut – Washington Times.

The Associated Press: Santorum to NRA: Obama doesn’t understand America

(AP) – 1 day ago

PITTSBURGH (AP) — Republican presidential aspirant Rick Santorum told National Rifle Association members at their annual convention Friday that President Barack Obama doesn’t “understand America,” and former House Speaker Newt Gingrich told them the administration is “consistently anti-gun and anti-Second Amendment.”

Santorum, a former U.S. senator from Pennsylvania, criticized remarks the president made about two weeks ago when he said America not only was a better country because of social programs like Medicare and Medicaid but said, “I’ll go further — we would not be a great country without these commitments.”

“Mr. President,” Santorum said, “You don’t understand America if you believe that,” because it implies the United States wasn’t great for most of the first 200 years of its history.

via The Associated Press: Santorum to NRA: Obama doesn’t understand America.

Real Unemployment in March 2011 was 22.0 Percent, Not 8.8 Percent –

How the Obama Administration Lies with Unemployment Statistics

April 11, 2011

By Jerome R. Corsi

The real unemployment rate may be 22.0% for March 2011, not the 8.8 percent reported, according to economist John Williams, author of http://www.shadowstats.com/ the “Shadow Government Statistics” website, who has argued for years that the federal government manipulates the reporting of economic data for political purposes.

In the BLS news release Friday, April 1, 2011, http://www.bls.gov/news.release/empsit.nr0.htm the unemployment rate was reported to have fallen 0.1 percent to 8.8 percent in March 2011, although that is the “seasonally adjusted number.”

According to BLS Table A15, the “not seasonally adjusted” unemployment number for March 2011 was 9.2 percent.

Separately, Gallup disagreed with the BLS, reporting last week that unemployment was 10.0% in March, down from 10.2 percent in mid-March, and 10.3 percent at the end of February, as seen in the following chart:

via Real Unemployment in March 2011 was 22.0 Percent, Not 8.8 Percent –.

IMF bombshell: Age of America nears end – MarketWatch

BRETT ARENDS’ ROI

April 25, 2011, 12:01 a.m. EDT

IMF bombshell: Age of America nears end

Commentary: China’s economy will surpass the U.S. in 2016

By Brett Arends, MarketWatch

BOSTON (MarketWatch) — The International Monetary Fund has just dropped a bombshell, and nobody noticed.

For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.

The Obama deficit tour

The Wall Street Journal’s Steve Moore critiques the president’s speeches attacking Republican budget plans.

And it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

Put that in your calendar.

It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.

According to the IMF forecast, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.

Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.

But they’re miscounting. They’re only comparing the gross domestic products of the two countries using current exchange rates.

That’s a largely meaningless comparison in real terms. Exchange rates change quickly. And China’s exchange rates are phony. China artificially undervalues its currency, the renminbi, through massive intervention in the markets.

via IMF bombshell: Age of America nears end – MarketWatch.

Stimulus by Fed Is Disappointing, Economists Say – NYTimes.com

The Federal Reserve’s experimental effort to spur a recovery by purchasing vast quantities of federal debt has pumped up the stock market, reduced the cost of American exports and allowed companies to borrow money at lower interest rates.But most Americans are not feeling the difference, in part because those benefits have been surprisingly small. The latest estimates from economists, in fact, suggest that the pace of recovery from the global financial crisis has flagged since November, when the Fed started buying $600 billion in Treasury securities to push private dollars into investments that create jobs.

via Stimulus by Fed Is Disappointing, Economists Say – NYTimes.com.

Post Tax Day, Obama jokes about re-thinking position on taxing wealthy – CBS News Video

Since the 1920s two platform staples of the Democrats has been “to close the tax loopholes,” and raise taxes on the wealthy.

Democrats have controlled the House of Representative 63 years of the last 77 years and the Senate 58 years of the last 77 years. The only loopholes that exist do so by their choice. During the

  • Eisenhower term in office the top marginal personal income tax rate was 91.25%.
  • President Kennedy cut the rate an average per year to 79.4%. Federal income tax revenue increased 55.81%.
  • Gross Domestic Product increased 56.35%
  • During the Carter term in office the top marginal personal income tax rate was 79.00%.
  • President Reagan cut the rate an average per year to 65.41%. Federal income tax revenue increased 65.41%.
  • Gross Domestic Product increased 68.72%.
  • During the Clinton term in office the top marginal personal income tax rate was 39.60%.
  • President Bush cut the rate an average per year to 35.46%.
  •  Federal income tax revenue increased 34.55%.
  • Gross Domestic Product increased 34.16%
  • During periods of low taxes the wealthy invest in U.S. corporations providing capital for business growth, expansion, improvements of infrastructure and job creation. During periods of high taxes they focus on protecting their wealth by moving their money to tax shelters which deprives corporation of capital for growth and eliminates jobs.

via Post Tax Day, Obama jokes about re-thinking position on taxing wealthy – CBS News Video.

Express.co.uk: Barack Obama: The Weakest President in history?

INEFFECTUAL, invisible, unable to honour pledges and now blamed for letting Gaddafi off the hook. Why Obama’s gone from ‘Yes we can’ to ‘Er, maybe we shouldn’t’…

Read more via Express.co.uk – Home of the Daily and Sunday Express | Express Yourself :: Barack Obama: The Weakest President in history?.

My Way News – FACT CHECK: Obama’s tone shifts on health care

WASHINGTON (AP) – President Barack Obama told voters repeatedly during the health care debate that the overhaul legislation would bring down fast-rising health care costs and save them money. Now, he’s hemming and hawing on that.

So far, the law he signed earlier this year hasn’t had the desired effect. An analysis from Medicare’s Office of the Actuary this week said that the nation’s health care tab will go up – not down – through 2019 as a result of Obama’s sweeping law, though the increase is modest.

Obama offered some caveats when asked in his news conference Friday about the apparent discrepancy between what he promised and what’s actually happening so far. On several other topics, too, his rhetoric fell short of a full accounting.

via My Way News – FACT CHECK: Obama’s tone shifts on health care.

ROI: Is a Crash Coming? Ten Reasons to Be Cautious – WSJ.com

Is a Crash Coming? Ten Reasons to Be Cautious

By BRETT ARENDS

Could Wall Street be about to crash again?

This week’s bone-rattlers may be making you wonder.

I don’t make predictions. That’s a sucker’s game. And I’m certainly not doing so now.

But way too many people are way too complacent this summer. Here are 10 reasons to watch out.

1. The market is already expensive.

2. The Fed is getting nervous.

3. Too many people are too bullish.

4. Deflation is already here.

5. People still owe way too much money.

6. The jobs picture is much worse than they’re telling you. 7. Housing remains a disaster.

8. Labor Day is approaching.

9. We’re looking at gridlock in Washington.

10. All sorts of other indicators are flashing amber.

Read the details via ROI: Is a Crash Coming? Ten Reasons to Be Cautious – WSJ.com.

Facebook (3) | Legitimate Questions for the President

Legitimate Questions for the President

by Sarah Palin on Saturday, August 14, 2010 at 6:01pm

Mr. President, should they or should they not build a mosque steps away from where radical Islamists killed 3000 people? Please tell us your position. We all know that they have the right to do it, but should they? And, no, this is not above your pay grade. If those who wish to build this Ground Zero mosque are sincerely interested in encouraging positive “cross-cultural engagement” and dialogue to show a moderate and tolerant face of Islam, then why haven’t they recognized that the decision to build a mosque at this particular location is doing just the opposite? Mr. President, why aren’t you encouraging the mosque developers to accept Governor Paterson’s generous offer of assistance in finding a new location for the mosque on state land if they move it away from Ground Zero? Why haven’t they jumped at this offer? Why are they apparently so set on building a mosque steps from what you have described, in agreement with me, as “hallowed ground”? I believe these are legitimate questions to ask.

– Sarah Palin

via Facebook (3) | Legitimate Questions for the President.