Posts Tagged ‘epic fail obama’
September 24, 2010
In case you missed the news, the recession is over. As of June 2009, no less. So say the economic sages at the National Bureau of Economic Research, the arbiter of these things. According to the NBER, the recession began in December 2007 and lasted 18 months — the longest since the Great Depression. That it’s over is good news, but there’s a “but.”
“On the other hand,” writes The Wall Street Journal, “the recession was only two months longer than the 16-month downturns of 1973-1975 and 1981-82, the two other most serious post-World War II periods of falling economic growth. The 2007-2009 downturn was painful but not extraordinary in historical context. What is different about this period is the relative weakness of the economic recovery.”
For years after 1982, GDP growth was at least 4 percent. Today, GDP remains below that of the fourth quarter of 2007. One difference is that in 1983, Ronald Reagan’s cuts in marginal tax rates were taking hold, while in 2010, the economy is bracing for trillions of dollars in tax increases in January. The current administration’s “recovery” policies have also been a major drag on economic growth, no matter how they may crow about their “success.”
Since January 2009, the economy has lost 3.2 million jobs, and the current 9.6 percent unemployment rate is higher than the 9.5 percent in June 2009 when the recession supposedly ended. U.S. household net worth fell by another $1.5 trillion in the second quarter, and is now $10.7 trillion less than at its high point in 2007. Foreclosures are at record highs.
Perhaps all of this is why some of the jobs now being shed are those of Barack Obama’s economic advisers. He may say on the campaign stump that Tea Party supporters are “misidentifying who the culprits are” for this economic trouble, but heads are rolling at the White House. “This is tough, the work that they do,” Obama said. “They’ve been at it for two years, and they’re going to have a whole range of decisions about family that will factor into this as well.” As in spending more time with family.
Lawrence Summers, chairman of the president’s National Economic Council, is heading back to Harvard. Apparently, the “Recovery Summers” is over. Other recent departures include budget director Peter Orszag and head of the Council of Economic Advisers Christina Romer. Meanwhile, Herb Allison, who took charge of the Troubled Asset Relief Program in April 2009, is stepping down. That leaves Treasury Secretary Timothy “Turbo Tax Cheat” Geithner as the lone remaining member of Obama’s original economic team.
We’ll say it again: In order to generate real economic growth, tax rates must remain level (or, even better, decline), regulation must ease and, in general, government must shrink. Of course, Obama and his refurbished economic team are unlikely to come to the same conclusion.
SOURCE
Tags:economics 101, Economy, epic fail obama, News, Politics
Posted in Czar Wars, Economics, Editorial, Opinion, Education, Law, News, Politics, Wordpress Political Blogs | Comments Off on The Recession Is Over? Yeah, right…
September 21, 2010
Sheer idiocy, sheer idiocy I tell you! Socialism and Communism just don’t work great leader with Romulan ears! Such an epic failure! The American people deserve so much better in their leaders!
Read on…
(Reuters) – The departure of economic adviser Larry Summers opens the way for President Barack Obama to shake up leadership of his economic team and show he is taking seriously growing public frustration over the sluggish economic recovery.
Whoever replaces Summers will have policy options constrained by a record $1.47 trillion budget deficit and the possible Democratic loss of control of the House of Representatives in November 2 congressional elections.
* With slow economic growth and nearly double-digit unemployment the central issues in the elections, Summers’ exit continues the overhaul of Obama’s economic team, after White House budget director Peter Orszag and top White House economist Christina Romer departed recently.
Obama’s team had been widely criticized for overly optimistic forecasts about an economy that has not gathered enough steam to erode stubbornly high unemployment.
Word of Summers’ departure followed a town hall meeting on Monday where Obama came face-to-face with supporters disillusioned with his economic recovery efforts.
Full story HERE
Read it… Then go and find a royal throne to puke in.
Our impostor in chief yet again fails to accomplish anything, anything at all that the fools that voted for him wanted. I personally think that is a good thing. A very good thing.
Tags:Economics, epic fail obama, News, Politics
Posted in Economics, Editorial, Opinion, Education, Gun Control, Immigration, Law, mysandry, News, Politics, Stupid is as Stupid Does, Wordpress Political Blogs | 2 Comments »
September 21, 2010
The Weekly Standard reports that Barack Obama may have seized private tax information provided by the IRS in order to retaliate against his political opponents.
In several speeches Obama singled out
Americans for Prosperity, which is owned by two libertarian billioinaires, Charles and David Koch. Koch Industries actively opposes Demoratic candidates.
But an attorney for
Koch Industries–the parent company of Americans for Prosperity–charges that the Obama White House crossed a line in obtaining private tax information, which they use to bash organizations like Americans for Prosperity.
The smoking gun appears to be a statement made by a senior Obama official who told reporters about the scheme. According to the Weekly Standard:
“…a senior Obama administration official told reporters at an August 27 on-the-record background briefing on corporate taxes:
“So in this country we have partnerships, we have S corps, we have LLCs, we have a series of entities that do not pay corporate income tax. Some of which are really giant firms, you know Koch Industries is a multibillion dollar businesses. So that creates a narrower base because we’ve literally got something like 50 percent of the business income in the U.S. is going to businesses that don’t pay any corporate income tax. They point out [in the report] you could review the boundary between corporate and non-corporate taxation as a way to broaden the base.”
Full Story HERE,
and be sure to read the comments!
Tags:Crime, epic fail obama, IRS, Liberty Sphere, News, Politics
Posted in Economics, Editorial, Opinion, Education, Law, News, Politics, Wordpress Political Blogs | 6 Comments »
September 21, 2010
The hero of obamanites everywhere, had this to say… Read on.
Part-time Cuban leader and full-time despot Fidel Castro gave a long overdue tip of the hat to Econ 101 when asked recently whether Cuba’s economic model was “worth exporting” to other countries. His reply: “The Cuban model doesn’t even work for us anymore.” What a shocker — not that communist/socialist/progressive models don’t work, but rather that a dyed-in-the-wool communist would actually acknowledge the truth of that statement.
Not to worry, however: No sooner had Castro uttered these words than the damage control party hopped into its East German Trabant and mobilized (read: got out and pushed). Typical statements begin, “What Comandante Castro meant to say was…” In this case, apparently the meant-to-say piece included a name change, as well: “U.S.” for “Cuban.” “The reality is that my response means exactly the opposite,” explained the ancient communista. Well of course it does! By the way, can we have our copy of Orwell’s “1984” back?
Further elaborating, World Hero of Solidarity (the title conferred upon him by the UN in 2009) stated, “My idea, as the whole world knows, is that the capitalist system now doesn’t work either for the United States or the world.” Yes, we know. The American media have done a fine job of telling us just that.
Meanwhile, el Presidente is laying off 500,000 state employees. By next March, these workers will be on the street — um, “released to the private sector” — and looking for nonexistent jobs in Cuba. With 85 percent of its workforce — or roughly five million people — working for the Cuban state, such a layoff is no small matter either. That number will eventually increase to one million due to “efforts to increase efficiency in the state sector,” making fewer new state positions available to the unemployed masses. Needless to say, massive layoffs are always symptomatic of sound economic planning in Castro’s world.
In one sense, however, Castro has hit on an important point: Our own “Comandante,” Barack Obama, continues to blur the lines between the economic models of the two nations. If the Chosen One is able to maintain his assault on the U.S. economy unabated, Castro’s statement will ultimately apply to both nations without caveat.
SOURCE
Tags:Castro, communist/socialist/progressive models, Economy, epic fail obama, Law, News, Politics
Posted in Domestic Violence, Economics, Editorial, Opinion, Education, Immigration, Law, News, Non Compos Mentis, Politics, Wordpress Political Blogs | Comments Off on World Hero of Solidarity?
September 21, 2010
Two separate attempts to repeal one terrible provision in the gargantuan ObamaCare law failed in the Senate this week, lighting up a serious issue for small business owners to consider when they vote in November. Anyone who is an independent contractor or owns a small business has likely seen a 1099 form. Pre-ObamaCare, the IRS required 1099s only for services purchased from vendors. In order to make ObamaCare “deficit-neutral,” the legislation requires that small businesses report any business-to-business transaction over $600 with a 1099. The amount of paperwork and accounting needed to maintain compliance with this bureaucratic nightmare will add immensely to operating costs for small businesses. In some cases, it will bury them.
Sen. Mike Johanns (R-NE) sponsored an amendment to repeal the provision, but even with the help of a handful of Democrats, the amendment failed 46-52. Sen. Bill Nelson (D-FL) crafted a weaker version that would have placed a $5,000 reporting threshold for 1099s and eliminated the requirement altogether for businesses with fewer than 25 employees. That failed to reach cloture, 56-42. This plan was little more than smoke, though, because it still would require businesses to monitor all their transactions for possible filing in case they reach the $5,000 threshold. It would also cause businesses to avoid hiring that 26th employee — it simply wouldn’t pay to grow.
The repeal of the 1099 provision failed this time, but ObamaCare is clearly under attack. The very Congress that passed it is now deliberating changes and repeals to the president’s signature agenda item, just in time for the midterms. On the legal front, U.S. District Judge Roger Vinson in Florida said that on Dec. 16 he would hear arguments on a lawsuit challenging the constitutionality of ObamaCare. Twenty state attorneys general claim the health care bill violates states’ rights and will force massive new spending. Unfortunately, they have to wait to state their case until Oct. 14, when Vinson will rule on the federal government’s dismissal motion. Legal analysts say that it’s likely the dismissal will be rejected since Vinson has already set a court date. There is little agreement among these same analysts on the outcome of the case.
With all of the consternation over something Obama lectured we “should be saying ‘thank you'” for, it’s no wonder Democrats “are spending three times more advertising against the health reform law than they are in support of it.”
SOURCE
Tags:Economy, epic fail obama, News, obamacare, Politics
Posted in Economics, Editorial, Opinion, Education, Law, News, Politics, States Rights, Wordpress Political Blogs | Comments Off on 1099 provision failed: Partisian Politics, and the epic failure obama
September 19, 2010
Seems like the tea leaves are in fact being read. (Pun intended) However, I happen to think that these folks just might be jumping the gun. One should not count their chickens before they hatch!
Even before Christine O’Donnell handily defeated Rep. Mike Castle (R-Del.) in an epic upset Tuesday night, the Tea Parties, all of them, had already won. No matter what happens in the midterm elections on Nov. 2, the Tea Party has moved the Democrats to the right and the Republicans even more so, and President Obama’s agenda is dead.
Anger from disaffected conservatives who sat quietly through eight years of the surplus-to-deficit presidency of George W. Bush bubbled up immediately after Obama took office. All it took was the unprecedented $787 billion stimulus package, and before Obama could mark his first 100 days in office, a movement was born. Some of the already angry yet newly active were libertarian supporters of Rep. Ron Paul (R-Texas), and almost all of them were fuming over the Troubled Asset Relief Program of 2008, the bipartisan bailout of Wall Street that Sen. John McCain (R-Ariz.) voted for and that his running mate, then-Alaska Gov. Sarah Palin (R), supported.
FULL STORY
Tags:Economy, epic fail obama, News, Politics, taxed enough already
Posted in Economics, Editorial, Opinion, Education, Gun Control, Immigration, Law, News, Politics, States Rights, Wordpress Political Blogs | 1 Comment »
September 17, 2010
“What would probably get the economy recovering fastest and most completely would be for the President of the United States and Congressional leaders to shut up and stop meddling with the economy. But it is virtually impossible that they will do that. … If the stimulus isn’t working, the true believers have to believe that it is only because it hasn’t been tried long enough, or with enough money being spent. There are always calls for the government to ‘do something’ when things are going bad. Those who make such calls have almost never bothered to check out what actually happens when the government does something, as compared to what happens when the government does nothing. It is not just free market economists who think the government can make a mess bigger with its interventions. … The history of the United States is full of evidence on the negative effects of government intervention. For the first 150 years of this country’s existence, the federal government did not think it was its business to intervene when the economy turned down. All of those downturns ended faster than the first downturn where the federal government intervened big time — the Great Depression of the 1930s. … There is another set of facts: The record that was set in 1929 for the biggest stock market decline in one day was broken in 1987. But Ronald Reagan did nothing — and the media clobbered him for it. Then the economy rebounded and there were 20 years of sustained economic growth with low inflation and low unemployment. Can you imagine Barack Obama doing another Ronald Reagan? I certainly wouldn’t predict that.” –economist Thomas Sowell
SOURCE
Tags:Economy, epic fail obama, Free Markets, News, Politics, state controled economies, Thomas Sowell
Posted in Economics, Editorial, Opinion, Education, Law, News, Politics, Wordpress Political Blogs | 1 Comment »
September 17, 2010
“Even America’s bitterest enemies understand why we mark July 4th with parades, speeches and fireworks: to celebrate the signing of the Declaration of Independence. We’re proud of our nation, and justifiably so. So why do we virtually ignore September 17th? That’s the date, in 1787, when our Founding Fathers signed the Constitution. … Yet today, on many issues, this vital document is frequently ignored, even undermined, by some of the very people who have taken a public oath to uphold it.” –Heritage Foundation president Ed Feulner
“While America’s liberal elite have not reached the depths of tyrants such as Lenin, Stalin, Mao and Hitler, they share a common vision and, as such, differ only in degree but not kind. Both denounce free markets and voluntary exchange. They are for control and coercion by the state. They believe they have superior wisdom to the masses and they have been ordained to forcibly impose that wisdom on the rest of us. They, like any other tyrant, have what they see as good reasons for restricting the freedom of others.” –economist Walter E. Williams
“Why has the left directed so much time and effort into demonizing ordinary Americans? Because the Tea Party’s three primary planks — limited government, fiscal responsibility and Constitutional fealty — represent the greatest threat to liberalism since its flowering in the 1960s. A smaller, fiscally responsible government dedicated to a Constitution expressly designed to limit the power of the state is the death knell for those dedicated to the idea their worldview must be imposed on Americans by an ever-expanding state. The left’s worst nightmare is an America comprised of largely self-sufficient, clear-thinking individuals left to their own devices.” –columnist Arnold Ahlert
“Nearly all of the tax cuts Americans have seen the past year and a half advance some liberal moral or social good. The overriding goal of the stimuli and tax breaks — from the things we build to the jobs we save to the tax credits we get — is to pick economic winners, steer us in the right direction and wheedle citizens to be good boys and girls. To offer comprehensive, amoral cuts would be to admit ideological defeat. … This president would never surrender to such indignity.” –columnist David Harsanyi
“If you read this weekend’s New York Times’ hit job on would-be Speaker John Boehner and his ‘lobbyist friends,’ you might think, as the reporter clearly thinks, that John Boehner is cozier with lobbyists than most powerful politicians are. But did you know: · Nancy Pelosi has raised almost twice as much money from lobbyists this election as Boehner has? · At least 18 House Democrats have raised more lobbyist cash this election than Boehner has. · Chuck Schumer and Harry Reid have pocketed more lobbyist cash in the past 18 months than Boehner has raised in the past 6 elections, combined?” –columnist Timothy Carney
SOURCE
Tags:Economics, election 2010, epic fail obama, lobbyist, News, Politics, Taxation
Posted in Czar Wars, Economics, Editorial, Opinion, Education, Immigration, Law, News, Politics, Wordpress Political Blogs | Comments Off on Constitution Day and a few other things
September 14, 2010
“On Thursday the non-partisan Congressional Budget Office (CBO) announced the federal budget deficit for 2010 will exceed $1.3 trillion. This is already on the heels of a 2009 budget deficit of $1.2 trillion and on top of a national debt of some $13.3 trillion. The word ‘trillion’ seems to have, almost overnight, crept into our standard economic parlance and by the looks of it is here to stay. And with the CBO’s forecast of more than $6 trillion in federal budget deficits accruing over the next nine years from 2010 to 2019, many are logically wondering if the United States has effectively crossed, or is fast approaching, a virtual economic point of no return — an economic Rubicon if you will.” –columnist Matt O’Connor
“[P]rogressively over these three decades the Republican party has exempted every material component of the budget from cuts, including middle-class entitlements, defense, veterans, education, housing, farm subsidies, and even Amtrak! Like Casey, the GOP has been in the anti-spending batter’s box for 30 years, and has never stopped whiffing the ball. The final proof is that the one GOP spending cut plan with any integrity — the ‘roadmap’ of Congressman Paul Ryan — has the grand sum of 13 co-sponsors, and I dare say half would call in sick if it ever came to a vote.” –former Reagan budget director David Stockman
“Why isn’t the economy recovering? After previous recessions, unemployment didn’t get stuck at close to 10 percent. If left alone, the economy can and does heal itself, as the mistakes of the previous inflationary boom are corrected. The problem today is that the economy is not being left alone. Instead, it is haunted by uncertainty on a hundred fronts. When rules are unintelligible and unpredictable, when new workers are potential threats because of Labor Department regulations, businesses have little confidence to hire. President Obama’s vaunted legislative record not only left entrepreneurs with the burden of bigger government, it also makes it impossible for them to accurately estimate the new burden. In at least three big areas — health insurance, financial regulation and taxes — no one can know what will happen.” –columnist John Stossel
“[T]he conviction that government no longer works for the majority of Americans is spreading like wildfire. That nearly all of President Obama’s major policies have gone against public will is fueling voter anger across the nation.” –columnist Michael Goodwin
“Most elected officials cling to their ideological biases, despite the real-world facts that disprove their theories time and again. Most have no common sense, and most never acknowledge that they were wrong.” –economist Lawrence Kudlow
SOURCE
Tags:Economy, election 2010, epic fail obama, News, Politics
Posted in Economics, Editorial, Opinion, Education, Law, News, Politics, Wordpress Political Blogs | 4 Comments »
September 14, 2010
This is more of an update on the situation from Gun Owners of America.
Obama Administration Moves to Block the Sale of M1s to Law-abiding Americans
— State Department intimates that these historic relics may be melted down
Gun Owners of America E-Mail Alert
8001 Forbes Place, Suite 102, Springfield, VA 22151
Phone: 703-321-8585 / FAX: 703-321-8408
http://gunowners.org/ordergoamem.htm
Friday, September 10, 2010
Apparently, things are going so well in the Middle East that the State Department now feels it can turn its attention to banning the lawful possession of firearms by American citizens.
In a little-noticed decision in March, the Obama administration reversed an earlier decision and moved to block the importation of 857,470 lawful M1 semi-automatics which were being sold by South Korea in an effort to raise money for its military. According to Hillary Clinton’s State Department, this action was taken because the M1’s “could potentially be exploited… for illicit purposes.”
Even worse, a spokesman for the State Department left the impression that the valuable historic relics could even be melted down, as Clinton’s husband did during his administration. Suffice it to say that this is just another reiteration of the same anti-gun political theatre. And the cheers coming from anti-gunners like Dennis Henigan of the Brady Campaign are ample proof of that.
Possession of these guns by Americans is lawful. They are antiques of historical interest, particularly for those who, unlike Clinton and her husband, served this country honorably in America’s foreign wars. And anyone wishing to acquire one would have to go through an Instant Check.
If any American, going into the November elections, had any doubt that Barack Obama and the Democratic Party leaders hate guns and have contempt for the Second Amendment, this is proof. Reps. John Boozman and Paul Broun are submitting a letter to State Department Secretary Hillary Clinton — demanding that this unlawful decision be reversed.
And we are working with several legislators to offer an amendment on the next available legislative vehicle which would prohibit the administration from blocking the importation — or even the destruction — of these firearms. Please see the ACTION item and pre-written letter below.
Have you recently renewed your GOA membership?
If you haven’t renewed your membership lately, then there’s a lot of information that you could be missing. In our newsletters, GOA takes on recent UN efforts to impose global gun control and has provided its members with postcards to inundate their Senators in opposition to any arms control treaties that would infringe upon our gun rights.
In fact, current members should be expecting another update on UN gun control efforts that will be arriving in their mailboxes soon. We can’t fight all our battles through email and that’s why we need you to be a member of Gun Owners of America.
You can go to http://gunowners.org/ordergoamem.htm and join Gun Owners of America for the cost of a box of ammunition. Get your friends and family to sign up as well. You’ll be glad you did!
ACTION: Write your Representative and urge him or her to cosign the Boozman/Broun letter which demands that the unlawful decision against the M1s be reversed. You can go to the Gun Owners Legislative Action Center at http://gunowners.org/activism.htm to send your Representative the pre-written e-mail message below.
—– Pre-written letter —–
Dear Representative:
Please stand up for the Second Amendment in opposition to the Obama administration’s anti-gun efforts to block the importation of — or even destroy — over 850,000 legal, historic M1 semi-automatic firearms.
Reps. John Boozman and Paul Broun are submitting a letter to State Department Secretary Hillary Clinton protesting this unlawful action.
I urge you in the strongest terms to cosign that letter with them. You can contact either Boozman’s or Broun’s office to get a copy of the letter and to indicate your desire to add your name to this effort.
Thank you.
Sincerely,
Tags:epic fail obama, Gun Control, Gun Owners of America, News, Politics
Posted in Editorial, Opinion, Education, Gun Control, Hoplophobia, Law, News, Politics, Wordpress Political Blogs | Comments Off on Obama Administration Moves to Block the Sale of M1s to Law-abiding Americans
Conservative Libertarian Outpost 