Archive for the ‘Economy’ Category

Cyprus Deficit Prompts Run on the Banks

Monday, March 18th, 2013

A Govt Big Enough....

(The Guardian) Eurozone finance ministers demanded yesterday that the Cyprus government seize 10% of savings and investments in exchange for a 10 Billion Euro ($12.92 Billion USD) bailout, prompting a run on the banks on the island.

The U.S. Debt now stands at $16.7 Trillion which Obama claims isn’t serious–how soon will it be before the U.S. Govt begins seizing Americans savings and investment to begin paying down our national debt?

Related: Banking Chief Calls for Looting 15% of Italian Savings

U.S. Capital Gains Taxes Among Highest in the World

California Second Highest Capital Gains Tax Rate in the World

Image Courtesy of Jefferson Quotes

Obama: There’s No Debt Crisis; Remember When he Called Bush Irresponsible & Unpatriotic for Debt

Wednesday, March 13th, 2013

Obama There is No Debt Crisis --BreitbartObama Claims There Is No Debt Crisis –ABC News

Flashback: Remember in 2008 while campaigning for president then Senator Barack Obama assailed President Bush, calling him “unpatriotic” for adding $4 Trillion to the national debt in 8 years as President.

It took Barack Obama just 39 months to run up $5 Trillion in Debt and now claims there is no debt crisis–how “unpatriotic” is that?

H/T: Breitbart: One Voice Silenced, Million Awakened

ObamaCare Regulations: 828 Pages in One Day And They’re Just Getting Started

Tuesday, March 12th, 2013

ObamaCare RegsNew ObamaCare Regulations and They’re Just Getting Started

(The Blaze) Senate Minority Leader Mitch McConnell tweeted out a picture of President Obama’s latest 828 pages of new ObamaCare Regs printed and stacked up on Monday–On the 01 March, I wrote here about 700 pages of ObamaCare Regs that the Dept of Health & Human Services dumped on Americans earlier this month and they’re just getting started.

Three Congressional House committees in February, added up the total number of hours that burdensome ObamaCare regulations will cost Americans, The Heritage Foundation reported–including 157 different rules and regulations that make up over 127 million hours of paperwork annually.

Related: ObamaCare Negatively Impacts Supply of Labor

Applying for ObamaCare Could be as Daunting as Doing Your Taxes

GOP Plan to Balance Budget by 2023 Without Raising Taxes

Senate Democrats Budget Includes Nearly $1 Trillion of New Taxes

McClatchy-Marist Poll: More Voters Prefer Congressional Republicans Over Obama on Budget

Tuesday, March 12th, 2013

Dealing With The Deficit

 

(McClatchy-Marist) If President Obama piled up political capital with his reelection, it mostly gone.

Obama’s approval rating has dropped to the lowest level in more than a year, with more voters turning thumbs down on his performance–the measure of how much people like him has also dropped.

Though he is still more vastly popular than Congress but in the biggest clash of the year over the federal budget and how to curb deficits, voters split 44% to 42% between preferring Congress or Campaigner-in-Chief Barack Obama–Just 34% of voters think the country is headed in the right direction while 62% say that its headed in the wrong direction–that is also the worst since November 2011

44% to 42% of voters say they prefer the Republican approach to curbing the out of control $16.685 Trillion federal deficit.

ObamaCare Hidden Vet Tax Hits Consumers

Monday, March 11th, 2013

Obama Tax Hikes On Everyone --Linda Scharf BrazierObama Tax Hike Lies –Image: Linda Scharf Brazier

(Breitbart) Pet owners listen up, you may want to start saving up extra money this year as ObamaCare Vet Taxes go into effect–just another Washington unintended consequences courtesy of the Democrat/Progressives so called health care reform.

46.6 Million Received Food Stamps in 2012; California Food Stamp Ad Blitz Adds 289,000

Monday, March 11th, 2013

Food Stamp President --The Scarlett SageObama The Food Stamp President –Scarlett Sage

(Weekly Standard)  On Friday, the U.S. Dept of Agriculture quietly released new statistics related to the Food Stamp program officially known as “The Supplemental Nutrition Assistance Program” (SNAP) the numbers are staggering and reveal that in 2012 the food stamp program was the largest ever with an average of 46.6 Million Americans receiving food stamps.

The state with the highest number of participants per month was Texas with an astounding 4,038,440 people drawing from the program the second highest was California with 3,964,221 which isn’t at all surprising given that the state spent some $832,000 in 2012 on advertising the program on radio in hopes of increasing the number of persons signed up for food stamps.

According to the L.A. Times in January, the radio commercials in California are credited with helping the state add 289,000 to the food stamp rolls.

Pelosi: “Tax Cuts Are Spending” Don’t You See?

Friday, March 8th, 2013

Nancy Pelosi

(CNS News) House Minority Leader Nancy Pelosi (D-CA) claimed this week that the government must cut spending and then (tried) explaining that “Tax cuts are spending.”

“Our whole budget is what $3.5 Trillion–so when we talk about reducing spending we certainly must and we certainly have–$1.6 Trillion in the previous Congress…Spending is also related to tax cuts, tax cuts are spending…”

I don’t get it.

The Weekly Standard explained in December that the $1.6 Trillion tax hikes (which Pelosi calls spending cuts) a mere $400 Billion was used for deficit reduction–that sum quickly would be eaten up on interest alone on our out of control  $16.67 Trillion federal deficit.

Obama’s Watch: Unemployment Rate Dips to 7.7% Record 89,304,000 Americans Not in Labor Force

Friday, March 8th, 2013

Obamanomics --AEITo Praise the February Jobs Report is to Embrace the New Normal –AEI

(CNS News) The number of Americans designated as “not in the labor force” in February was 89,304,000 a record high, up from 89,008,000 in January—296,000 Americans dropped out of the labor force between January and February

Senator Ted Cruz: Restore Growth First–Defund ObamaCare

Wednesday, March 6th, 2013

ObamaCare Repeal --Right SpeakObamaCare Repeal –Right Speak

(Red State/Sen Ted Cruz) For the last four years, our economy has grown at just 0.8% per year. As a result of this anemic growth, 23 million Americans are struggling to find work and millions more are being denied a fair opportunity to achieve the American dream.

Economic growth these past four years has been a small fraction of historic levels: Since World War II, our economy has averaged 3.3% growth each year. Until economic growth returns, none of our economic problems can be solved. Improving the lives of the middle class, protecting our seniors, empowering people to escape poverty and reining in the federal debt…all depend on economic growth.

The very first priority of every elected official–Democrat and Republican, should be restoring economic growth, so we can ensure continued strength, prosperity and opportunity for the next generations.

ObamaCare does precisely the opposite. It is already hurting small businesses, reducing the hours Americans are allowed to work, forcing employers to drop coverage and leading to substantial increases in health care premiums especially for young people–and if ObamaCare is fully implemented, it will create an even further drag on the economy, killing jobs and making it harder for those struggling to climb the economic ladder.

In my view, ObamaCare should be fully repealed and I have introduced legislation to do so.

At a minimum, however, it should not be implemented at a time when our economy is struggling so mightily, at a time when its implementation could push us into a full recession.

Therefore, when the Senate votes on the Continuing Resolution, I intend to offer a “Restore Growth First” amendment which will delay funding of ObamaCare. I believe  we should continue to delay such funding at least until economic growth returns to historic averages and I intend to object to consideration of any Continuing Resolution that does not include a vote to delay funding of ObamaCare. Last quarter, our economy grew just 0.1% Getting growth back, getting Americans back to work should be our top priority and we should all roll up our sleeves and work in a bipartisan way to get that done.

Related: Conservatives Pushing Boehner…to Defund ObamaCare in CR

Post-Sequester: DHS Authorizes TSA Uniform Perks, More Expensive Than USMC Uniforms

Wednesday, March 6th, 2013

TSA Waste --The Kitchen CabinetTSA Uniform Perks More Expensive Than USMC Uniforms

More Govt Waste: Chief White House Calligrapher Gets Paid $96,725

H/T: The Kitchen Cabinet