With the U.S. unemployment rate near 10% and President Obama’s failed $787 Billion Dollar $862 Billion Dollar Economic Stimulus not creating the 5.2 Million Jobs promised it comes as little surprise that House Speaker Nancy Pelosi, D-CA would now say, Unemployment compensation “creates jobs faster than almost any other initiative you can name.”
Video here Via Breitbart
Obama seems more happy campaigning than he ever does actually working. During his latest stump speech at a Town Hall meeting in Racine, Wisonsin yesterday, Obama attempted to blame Republicans (despite the fact that Democrat-Socialists have huge majorities in both the House & Senate) for the the economic chaos gripping the country and the BP oil catastrophe.
Huh?
In May, Obama claimed to take responsibility for the BP Oil disaster and vowed to defend the assault in the Gulf of Mexico. Was he lying then or were the promises made by Obama disingenuous?
When will Obama began taking responsibility?
Jobs Market Barely Budges in June as Hiring Stays Weak Via CNBC
National Debt Soars to Highest Level Since World War II Via USA Today
Stock Market ended their worst quarter in over a year, Dow loses 10% Via CNBC
Closing numbers of the NYSE this afternoon, the Dow Jones Industrial lost 268.22
or 2.65% of its value from yesterday, its first close below 10,000 since early June.
A market circuit breaker briefly halted trading today of Citigroup after a trade sent its price tumbling 17%—Citi ended trading today down 7%
Consumer confidence fell in June more than forecast as Americans became distressed over the economic outlook for jobs.
Some U.S. retailers are seeing consumers pull back on purchases. Best Buy Co. the worlds largest consumer electronics retailer, this month reported first quarter profits rose less than analysts expected.
Bed Bath & Beyond, a New Jersey based home accessory retailer, this month forecast fiscal second quarter and annual earnings trailing analysts estimates.
Despite the Obama Administration propagandists traipsing the country claiming that the Economic Stimulus boondoggle was a great success, Americans have lost confidence in the exaggerations made by Democrat-Socialist activists promises of utopia.
U.S. Economy: Confidence Sinks On Concern Over Jobs Via Bloomberg Businessweek
Related: Stocks Skid on Renewed Fears of Global Slowdown Via Yahoo Finance
America’s Ticking Debt Bomb: Like Greece Only Worse Via Yahoo Finance
Maybe Obama was a bit inebriated when he pledged that he is really serious about tackling the soaring U.S. Deficit next year?
Why not this year?
Obama has yet to take responsibility for his leadership crisis and continues to blame Bush for the deficit. What are the facts: During the first year of Obama’s watch, the federal budget deficit quadrupled in size from $459 Billion in 2008 to $1.85 Trillion Dollars last year.
How is Obama’s Deficit Reduction Team Doing? They need a Bailout. Via Tax Prof Blog
Vice President Joe Biden while in Milwaukee, WI for a fundraiser for Democrat-Socialist Senator Russ Feingold, stopped at Kopp’s Frozen Custard and wanted ice cream, not exactly something that is on the menu at a frozen custard shop.
Having already put his big foot into his mouth, Biden didn’t want the opportunity to pass without putting his other foot into his mouth and called the store manager a “smartass” when responding to his question about tax cuts.
Video here Via Real Clear Politics
Related: Vice President Biden: “There is no possibility to restore 8 million jobs lost” CBS News
Obama calls for $90 Billion Dollar Bank Tax Via Reuters
Taxation 101: Who Pays Corporate Taxes? Via Capitalism Magazine
The Obama Administration has asked the 5th U.S. Circuit Ct of Appeals to put the President Obama’s 6 month moratorium on drilling in the Gulf of Mexico back into place that was lifted this week by USDC Court Judge Martin Feldman
Obama’s ban on off shore drilling is estimated to kill 20,000 good paying jobs.
Louisiana Gov. Bobby Jindal Calls Drilling Moratorium a Second Man-Made Disaster
Treasury Secretary Timmy Geithner says the United States no longer has the economic strength to drive global growth.
Democrat-Socialists are destroying opportunity. The U.S. Economy grew at a slower pace in the 1st quarter than first believed. Economists anticipate even slower growth ahead as businesses are likely to reduce their spending during the second half of the year.
Related: IRS wants its share of BP payments received by oil spill victims Via al.com
Democrat-Socialists reach agreement on yet another 2,000 page bill which Connecticut Senator Christopher Dodd says, “No one will know until this is actually in place how it works but we believe we’ve done something that has been needed for a long time…”
Provisions of the 2,000 page monster provides that federal regulators may seize and break-up corporations.
Financial Overhaul: The Winner Wall Street, The Loser Main Street
More here Via The Wall Street Journal
Financial Overhaul Punishes Regional Banks Via FOX Business
Democrats add $19 Billion Dollars in New Tax Increases Via WBUR Radio Boston
Only in an Obama World would anyone attempt to thump around the country saying how good the economy is, such as Barack Obama done last week in Columbus, Ohio
Today the Dept of Commerce reported that new housing starts fall to a 50 year low could we simply be misunderstanding “The Anointed One” rosy outlook? Maybe just maybe, Obama is saying that his personal economic forecast continues to improve at the expense of the rest of America?
Related: Private Employers hold back on hiring in May Via Yahoo Finance
Biden’s Job Prediction Falls 5.2 Million Jobs Short Via New Busters
When is Obama going to accept responsibility?
Obama blames Republicans for making life more difficult for the unemployed, instead for his failed economic stimulus boondoggle.
More here from My Way News
Related: Obama Lectures G-20 About Debt Reduction
New road built with failed economic stimulus plan bears Obama’s name
Via Central Florida News