Economy « Cristy Li

Archive for the ‘Economy’ Category

ObamaCare Implosion: Deductibles Rising Faster Than Premiums & Wages – Majority of Co-Ops Fail

Tuesday, November 10th, 2015

ObamaCare Deductibles (Kaiser) Since 2010 Deductibles for All Workers Have Risen Almost 3X
as Fast as Premiums and About 7X as Fast as Wages & Inflation

Flashback: Remember when Obama promised that the ACA would drive down healthcare costs by an average of $2500 a year — Where are those promised savings?

Since 2010 both the share of workers deductibles and the size of those deductibles have increased sharply. These two trends result in a 67% increase in deductibles since 2010 much faster than the rise in single premiums (24%) and about seven times the rise in workers wages (10%) and general inflation (9%)

“With deductibles rising so much faster than premiums and wages, its no surprise that consumers have not felt the slowdown in health spending,” Kaiser Family Foundation President/CEO Drew Altman said.

In related ObamaCare news, The Wall Street Journal reported Monday, that a majority of ObamaCare insurance co-ops (12 of 23) have now failed and their $1.24 Billion of taxpayer loans have all but vaporized. As more fail, nearly a million Americans may lose insurance coverage as the contagion from their failures spreads.

More here from Washington Free Beacon

Posted in Barack Obama, Democrats, Economy, Health Care Costs, Hillary Clinton, Obama Administration, ObamaCare | No Comments »

Obamanomics: Record 46.7 Million Americans Live in Poverty; Household Income at 1989 Levels

Wednesday, September 16th, 2015

Obamanomics... (ZeroHedge) According to the just released Census Bureau annual report on Income and Poverty in 2014 the official poverty rate was 14.8% as a result of a record 46.7 million Americans living in poverty. This is the 5th consecutive year since the end of the recession that the number of impoverished Americans has barely not budged. What recovery?

Worse, there was no material change for the percentage of Americans in poverty, there was a statistical increase of the number of people in poverty who had at least a bachelor’s degree (rising from 3 million to 3.4 million in one year) and married-couple families because through higher education and debt, to poverty.

The people living in extreme poverty (below 50% of the poverty minimum) also rose to an all time high of 20.8 million people.

Of the 91 Million Americans who were out of the labor force in 2014 and otherwise did not work, a record 24.2% or 22 million lived in poverty.

The most damning fact about the total failure of Obamanomics, is that median household income after posting a modest increase in 2013 to $54,462 dropped once again, sliding 1.5% in 2014 to $53,657 and down from a high of $57,843 record in 1999 — that was nearly the same as the $53,306 median house hold income recorded…in 1989

Posted in Barack Obama, Democrats, Economy, Obama Administration | No Comments »

Have You Thanked a California Truck Driver Today?

Tuesday, September 15th, 2015

Thanks to California Truckers @CalTrux for Delivering
Millions of Tons of American Freight Safely Everyday

H/T: Assemblyman Scott Wilk, R-Santa Clarita

Posted in California, Economy | No Comments »

Dear Mr. Trump: Should Mexico Not Pay for the Border Wall, How Much Will It Cost Taxpayers?

Saturday, September 5th, 2015

Present Day: U.S Federal Debt –U.S. Debt Clock

(Newsmax) Completing construction of the ‘Great Wall of Mexico’ to discourage illegal immigration along our Southern border would cost Billions, though experts disagree how many.

With an $18.373 Trillion mushrooming federal debt how does Trump realistically propose to pay for the border fence should Mexico, despite Trump’s ‘great negotiating skills’ refuse to do so?

The federal government starting in the 1990s built one section of a double and triple layered fence–near San Diego, then between passage of the 2006 law and January, 2013 the Feds erected 651 miles (exact length appears to be in dispute) of mostly single layer fencing across our Southern border which cost taxpayers some $2.4 Billion

The ‘Dept of Homeland Security’ has reportedly said that different types of fencing have been put up along sections of the Southern border according to the Washington Examiner this week. In total, some 352 miles have a fence at a cost of over $7 Million a mile, at that rate a full fence would cost at least $11.7 Billion (a wall would cost considerably more) not to mention all of the additional ongoing outlays which would include: lighting, more checkpoints, cameras, vehicle barriers, airport style metal detectors and personnel costs for a total cost of how much?

These are fair questions for voters and for Mr. Trump to provide answers to. While one may be willing to give Mr. Trump, the benefit of the doubt to his response nearly 5 months out before the first GOP primary ballots are cast next year that he’ll “build a great wall” this however, is not an answer that voters (taxpayers) should be willing to accept without more clear and concise answers.

One may be assured if Republicans and Tea Party Conservatives don’t demand answers from Mr. Trump going into 2016 that Democrats and Independents most certainly will.

Posted in Budget Crisis, Donald Trump, Economy, Immigration, Republicans | No Comments »

Happy Labor Day 2015: Record 94,031,000 Americans Not in Labor Force

Friday, September 4th, 2015

(Zero Hedge) Record 94,031,000 Americans Not in Labor Force;
Labor Participation Anemic 68.8% –Image: Bureau of Labor Statistics

Posted in Barack Obama, Economy, Joe Biden, Obama Administration | No Comments »

California $428+ Billion in Crushing Debt Proposes $30 Million 101 Fwy Wildlife Crossing Plan

Friday, September 4th, 2015

California Debt Clock

(LA Daily News) California with $428+ Billion in Debt ($11,183 per person) and $1 Trillion in unfunded Govt pension liabilities proposes wasting $30 Million to construct a 200 Ft 101 Fwy wildlife footbridge.

Keep voting Democrat for ~~prosperity~~ bankruptcy.

Posted in California, Democrats, Economy, Jerry Brown | No Comments »

UCLA Study Finds Many ‘Hidden Poor’ Among California Senior Population

Tuesday, September 1st, 2015

California Governor Jerry Brown adjusts his earpiece during a news conference at Memoria y Tolerancia museum in Mexico City Gov Moonbeam, How’s he Working Out for You?
Image: Yahoo News

(KPCC) More than 770,000 Seniors in California are not making enough to get by but are not considered poor enough by the Obama Administration, according to a UCLA health policy study challenging the definition of poverty in America.

According to the study brief released on Monday by the UCLA Center for Health Policy Research, about 340,000 California residents 65 or older are considered poor based on the Federal Poverty Level which makes them eligible for public assistance programs but in an analysis of 2009-2011 U.S. Census data the researchers concluded about 772,000 more Seniors in California could use help but are not considered ‘poor enough’ Imelda Padilla-Frausto, a graduate student researcher at the UCLA Center for Health Policy Research and lead author of the study said Monday.

“They don’t have enough income to meet a minimally decent standard of living,” — the ‘hidden poor’ made more than the 2011 poverty level which was $10,890 a year for someone living alone but their annual income was less than $23,364–the amount a Senior need to make ends meet according to the Elder Index which estimates the cost of living county-by-county raking into consideration how much one spends on housing, medical care, food and transportation.

Padilla-Frausto said the federal-poverty level is too rigid to measure whether people need assistance because it sets an across the board guideline (standard) no matter how expensive one state or area may be compared with the rest of the country.

The UCLA study found more single Seniors among the ‘hidden poor’ in rural areas such as Nevada, Plumas and Sierra Counties in Northern California–Imperial County has the highest percentage in the state. More than 40% of its elderly residents are living just above the federal poverty line but below the California Elder Index.

Grandparents raising their grandchildren and Seniors who have adult children living with them are more likely to be among the ‘hidden poor’ according to the UCLA study.

Posted in Barack Obama, California, Economy, Jerry Brown, Obama Administration | No Comments »

California Auditor: Most State Entities Vulnerable to IT Security Breach

Friday, August 28th, 2015

CA Personal Data California Personal Data at Risk –Image: CalWatchdog

(AllGov) Although California is a prime-target for computer data breaches, only 4 out of 77 state entities responding to surveys from the California State Auditor, indicated that they were in full compliance with security standards.

They were crummy at “information and asset risk management, information security incident management and technology recovery.” The audit warned that their vulnerabilities could prevent them from performing day-to-day operations which could jeopardize public health, wealth and safety.

The Auditor laid blame at the feet of the California Dept of Technology — Not only is the department not addressing these deficiencies, “until our audit, it was not aware that many reporting entities had not complied with its requirements.”

Forty one of the entities surveyed by the Auditor had told the technology department they were 100% compliant with security standards. As it turns out only 4 were. — The Auditor’s emphasizes that important private data could include medical, tax and other sensitive information, like Social Security numbers.

In June, the federal ‘Office of Personal Management’ announced a major hack that exposed personal information of about 20 million current and former federal employees and job applicants.

According to California Auditor Elaine Howle, “Given the size of California’s economy and the value of its information, if unauthorized parties were to gain access to this information, the costs both to the state and to the individuals involved could be enormous.”

More here from News Factor Network

Posted in California, Economy, Jerry Brown | No Comments »

U.S. Continues to Decline in Economic Freedom

Friday, August 28th, 2015

Liberty Liberty or Bust –Image: Conservative Latinos@Facebook

(Daily Caller) In a new report on the ‘Freedom of Countries Around the World’ ranks the United States 20th which puts countries like Chile, Netherlands, Germany, Austria and China Hong Kong ahead of the United States.

The United States has seen more than a decade of declines having been ranked No. 2 on the index in 2000 — 8th in 2005 — 17th in 2013 according to the CATO Institute and Fraser Institute which jointly created the study.

Co-Author of the report Ian Vasquez said that the steady growth of government, increased regulations of business and labor contribute to the U.S. low rating.

Read the full report here from CATO Institute

Posted in Chile, China, Economy | No Comments »

California Environmental Regulator has a Plan to Permanently Kill Jobs & Prosperity as We Know It

Monday, August 3rd, 2015

California Republic California Exodus: Go East Young Man… -Image: Political News Now

(Bloomberg) Just ask California Air Resources Board Regulator Mary Nichols how to kill jobs and end prosperity in the ‘Golden State’ and she’ll tell you her plan: Ban the internal combustion engine from all roadways and force automakers to sell nothing but electric cars statewide.

There’s just a ~~little tiny~~ huge problem with this latest brainstorm from the wacky environmentalist left says Ozzie Zehner Researcher, Visiting Scholar at UC Berkeley and Author of Green Illusions, who in 2013 wrote in IEEE Spectrum that electric cars lead to hidden environmental and health dangers, together with producing only ‘marginally’ fewer greenhouse gas emissions than their gasoline or diesel counterparts adding:

A Norwegian study published October, 2012 in the ‘Journal of Industrial Ecology’ compared life-cycle impacts of electric vehicles. The researchers considered acid rain, airborne particulates, water pollution, smog and toxicity to humans as well as depletion of fossil fuel and mineral resources. According co-author Anders Stromman, ‘electric vehicles consistently perform worse on or par with modern internal combustion engine vehicles, despite virtual zero direct emissions during operation.’

“Moving from petroleum fueled vehicles to electric cars begins to look more-and-more like shifting from one brand of cigarette to another…Lets not be seduced by high-tech illusions.”

Posted in California, Democrats, Economy, Energy Prices, Jerry Brown, Loony Liberal Lefties | No Comments »

Cristy Li