Economy « Cristy Li

Archive for the ‘Economy’ Category

Over the Hill and Through the Woods to the Fiscal Cliff We Go…

Wednesday, December 26th, 2012

Obama’s Fiscal Cliff –Barracuda Brigade Girl

(Townhall) While most of the Dinosaur Media accounts of the fiscal cliff chaos have focused on Republicans few have adequately noted Democrats starring role in our current dysfunction.

A pre-Christmas Wall Street Journal article walks readers through the failed negotiations and two recurring themes are woven throughout: (1) Obama has zero interest in meaningful concessions on his end; (2) Obama is supremely confident in his ability to stick Republicans with the blame if the nations economy slides off the cliff.

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

Obama’s Watch: Should Bush Tax Cuts Expire, Tax Hikes Coming to All Americans January 1st

Saturday, December 22nd, 2012

Obama Watch Tax Hikes Coming Jan 01 Obama’s Watch: Tax Hikes Coming to All Americans 01 January, 2013

(CNS News) Should the Bush Tax cuts expire on the 01 January, individuals of all demographics and income brackets will realize tax increases according to a report on the 11 June entitled, “How Will Taxmageddon Impact You” from the Heritage Foundation.

Flashback: Remember when President Obama claimed “No family making less than $250,000 a year will see any form of a tax increase–yade, yade, yade…” during his watch.

Posted in Barack Obama, Economy, IRS, Obama Administration, Tax Hikes | No Comments »

Obama’s Watch: Fitch Ratings Warns U.S. of Imminent Credit Rating Downgrade

Wednesday, December 19th, 2012

The Collapse of the Dollar –AgoraFinancial/The Veritas Report

(Christian Science Monitor) Fitch Ratings, a leading credit rating agency warned today, that the U.S. is likely to lose its top-notch credit rating if lawmakers and President Obama, cannot agree to a solution that prevents the economy from going over the “fiscal cliff” in 13 days.

On the 05 August, 2011 I wrote here that Standard & Poors announced that they cut the U.S. credit rating for the first time in history from AAA to AA+ because the so called deficit reduction plan passed by Congress did not go nearly far enough to stabilize the nation’s debt situation which now exceeds $16.3 Trillion and growing by $4.8 Billion per day.

Posted in Barack Obama, Budget Crisis, Economy, Obama Administration | No Comments »

Speaker Boehner Caves, Now Endorses Pelosi’s “Plan B” to Avoid Fiscal Cliff

Tuesday, December 18th, 2012

Rep’s Nancy Pelosi & Speaker John Boehner –Molly Ball/Twitter

(Buzz Feed) RINO House Speaker John Boehner (R-OH) bids against himself and the nation and now has endorsed Minority Leader Nancy Pelosi’s “Plan B” to avert the so called fiscal cliff by agreeing to raise taxes on job creators on top of all the egregious ObamaCare Tax Hikes scheduled to hit the economy in just 14 days.

The Bottom Line on Sequestration –CATO Institute

Debt Has Increased $18,944 Under Boehner’s Leadership –CNS

Now a Word From a Job Creator –Washington Times

Posted in Budget Crisis, Economy, Nancy Pelosi, Obama Administration, ObamaCare, Rep John Boehner, Socialism | No Comments »

California Wins 2012 Blue State Darwin Award

Thursday, December 13th, 2012

California Wins the 2012 Darwin Award –Legal Insuurection

(New Geography) For California voters enthusiastic backing of Barack Obama and the Democrat/Socialist-Progressive Party on election day, the bluest parts of America have embraced a program utterly at odds with ones economic self-interest.

The almost uniform support of ‘blue states’ congressional representatives for the Obama Administration’s campaign for ~~tax fairness~~ soak the rich, California represents a kind of bizarre economic suicide pact entitling it to win the 2012 Darwin Awards which commemorates individuals who protect the gene pool by making the ultimate sacrifice of their own lives–Darwin Awards winners eliminate themselves in an extraordinary idiotic manner, thereby improving our species’ chances of long term survival.

Posted in Barack Obama, Budget Crisis, California, Democrats, Economy | No Comments »

Economy Adds Just 146,000 in November, Jobless Rate Dubiously Declines From 7.9% to 7.7%

Friday, December 7th, 2012

Did the Unemployment Rate Really Fall To 7.7% –Image: CBS News

(Zero Hedge) The Obama Administration–Dept of Labor is reporting that the November jobs report allegedly beat expectations by adding a paltry 146,000 jobs, pushing the unemployment rate down from 7.9% to 7.7%

Of course that is if one is really so gullible to someone believe the jobless numbers at the surface without taking a closer look at them for a more clearer picture, such as the fact that some 540,000 people dropped out of the labor force.

Long Term unemployed remained steady; Civilian Labor participation rate declined by 0.2%; Number of persons working part-time remained at 8.2%

U6 Real Unemployment Rate of 14.4% slipped from 14.6% in October, according to the Dept of Labor Bureau of Labor Statistics which is a more accurate reflection of the labor force and includes part-time workers that want to work full-time but can not due to the nations anemic economy.

On the 04 December, I wrote here children’s advocacy group Annie E Casey Foundation said in a new report released this week that youth employment rates for 16 to 19 year old’s and 20 to 24 year old’s are the lowest they have been in a half a century–most certainly not a very encouraging statistic if one actually is going to believe the Obama Administration’s dubious jobs report released this morning.

Fewer Americans Looking For Work -Independent Women’s Forum

Taxpayers Shelled Out $115,000 for Malia Obama’s Spring Break

Posted in Economy | No Comments »

Govt May Confiscate Nearly 52% of California Job Creators Income Should Nation Fall Off Fiscal Cliff

Thursday, December 6th, 2012

California Taxes –Asian Conservatives

(Capitol Alert) Thanks to the passage of Prop 30 last month, job creators in California will pay the nations highest marginal income tax rate of 51.9% should President Obama and Congress fail to do the job(s) they were elected to do and avoid the fiscal cliff according to a new study.

Gerald Prante, an Economics Professor at Lynchburg College in Virgina together with Austin John a Lynchburg Economics student calculated marginal tax rates–the highest tax rates for all 50 states–they combined state and federal and where applicable local municipality incomes taxes, plus other miscellaneous taxes such as payroll taxes for social security, medicare, etc.

Prop 30 added 3% to the marginal tax rate in California for the highest income taxpayers bringing it to 13.3%–the action raised California over other high taxed states to a marginal rate of 51.9% slightly higher than New York City’s level.

On the 15 November Prante and John’s report was published by the Social Science Research Network.

Detroit Councilwoman to Obama: We Voted For You–Give Us Our Bacon

Posted in Barack Obama, Budget Crisis, California, Democrats, Economy, Obama Administration, Tax Hikes | No Comments »

Senate Majority Leader Harry Reid Blocks Vote of Obama’s Ridiculous $1.6 Trillion Budget Proposal

Wednesday, December 5th, 2012

Obama 2006: “America has a Debt Problem and Failure of Leadership.”

(The Hill) Senate Minority Leader Mitch McConnell, R-KY today offered an amendment to force a vote on Obama’s ridiculous deficit reduction plan but Senate Majority Leader Harry Reid, D-NV raised an objection to the amendment, thus removing it from consideration.

Why didn’t Democrats want to vote on Obama’s plan?

Sen. Reid knew that Obama’s plan wouldn’t even get enough votes in the Democrat controlled Senate, just as Obama’s 2012 Budget proposal was rejected in the Senate by a vote of 99 to 0 and in the House of Representatives 414 to 0

Image Courtesy: The Heritage Foundation

Posted in Barack Obama, Budget Crisis, Democrats, Economy, Loony Liberal Lefties, Obama Administration, Sen. Harry Reid, Socialism, Tax Hikes | No Comments »

GOP Speaker Boehner Purging Conservatives from Committees–Plan In Works to Capitulate to Obama

Tuesday, December 4th, 2012

RINO John Boehner –The Town Crier

(Twitchy) Conservative Republicans in the House of Representatives attacked the leadership’s capitulating “fiscal cliff” offer to President Obama, while House Speaker John Boehner (R-OH) is reportedly purging Conservatives from finance related committees to keep holdout Republicans in line to renege on their pledge not to raise taxes.

Rep David Schweikert (R-AZ) is the latest Conservative to have been booted off the House Financial Services Committee.

Can We Replace John Boehner With Paul Ryan as Speaker?

Palin to GOP: This Won’t Be Forgotten Come 2014 –Breitbart

Posted in Barack Obama, Democrats, Economy, Rep John Boehner, Republicans, Tax Hikes | No Comments »

Obama Watch: Youth Employment Rate Skyrocketing, Lowest in 50 Years

Tuesday, December 4th, 2012

Real Unemployment 23% — Judge Andrew Napolitano/Shadow Govt

(Businessweek) Children’s advocacy group the Annie E Casey Foundation says in a new report released today shows that youth employment rates for 16 to 19 years old’s and 20 to 24 year old’s are the lowest they’ve been in 50 years.

The report blames the problem on several factors including increasing competition from older workers due to the recession and anemic jobless recovery, youths who do not graduate from high school prepared for college, poverty and low performing schools.

US Debt $16,369,548,799,604.93; Debt Ceiling Just $63 Billion Away

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

Cristy Li