Economy « Cristy Li

Archive for the ‘Economy’ Category

Obama: $787 Billion Dollar Economic Stimulus Failed To Create Jobs

Thursday, November 12th, 2009

Obama Stimulus

Remember when “Hope-n-Change” claimed that if Congress would immediately pass his $787 Billion Dollar Economic Stimulus package that unemployment would not rise above 8%

In February Obama claimed that only government can break the cycle of job losses…creating 4 million jobs
mostly in the private sector.

Whatever happened to the 600,000 jobs Obama claimed would be created by this Summer?

Where are the 650,000 jobs that the Obama Administration Claims they created or saved in September?

Barack Obama admits that his Economic Stimulus Package has failed the American people and his newest solution
to the highest unemployment in 26 years we’ll have a Jobs Summit in December.

Posted in Barack Obama, Economy | No Comments »

Gold Prices Hit Record High, Inflation Fears, Record Budget Deficit

Monday, November 9th, 2009

China Currency

Gold prices hit a new record high of $1150.09 raising continued inflation fears and a continued weakening U.S. Dollar.

In order to ease investors inflation fears, the Obama Administration and the Democrat-Socialist Congress, are working together to pass legislation needed to boost the federal debt ceiling currently at $12.1 Trillion Dollars and expected to rise another $9 Trillion Dollars throughout the next decade. Treasury is ending its 20 year securities and will begin selling 30 year Treasury Notes starting in 2010

Remember when Obama said “We can’t keep on just borrowing from China…we have to pay the interest on that debt and that means we are mortgaging our childrens future…Holders of U.S. Debt will eventually get tired of buying it causing interest rates from everything from auto loans to home mortgages to increase…will have a dampening effect on our economy.”

He didn’t mean it—China is the Number One holder of U.S. Debts spending by the Democrat-Socialist Congress during Obama’s Watch averages $3.87 Billion Dollars a day or $39,060.58 per American.

In March I wrote here remember when Obama promised us that he was going to cut federal spending—he didn’t mean it some $1.42 Trillion Dollars later in new spending during 2009

Posted in China, Economy, Obama Administration | No Comments »

Where are all the jobs Obama claims were created? Unemployment 10.2%

Friday, November 6th, 2009

Unemployment Rate

Despite Obama’s insistence that Democrat-Socialists have saved or created 650,000 jobs the Labor Dept.
has come out with October’s Unemployment rate which now stands at 10.2%

Where-O-Where are all those jobs Mr. President?

Jobless Rate tops 10% for first time since 1983 Via Yahoo Finance

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

Cash-for-Clunkers, Another Government Boondoggle

Thursday, October 29th, 2009

Cash for Clunkers

Democrat-Socialists spend $24,000. per vehicle and now they expect the Taxpayers to believe
that they may somehow reduce the cost of health care by nationalizing medicine?

Riiight!

Cash-for-Clunkers Debacle Generated Few New Sales Via The Washington Examiner

Posted in Auto Industry, Economy, ObamaCare | No Comments »

Consumer Confidence falls to Second Lowest Level since May

Thursday, October 29th, 2009

Consumer Confidence

Consumer Confidence about the economy continues to slide in October, fueling speculation that an already gloomy Christmas holiday shopping season may worsen.

The Consumer Confidence index sank to its second lowest level since May, the index hit its historic low in February—The Conference Board expects a worsening business climate, fewer jobs and lower salaries. Consumers remain pessimistic about their earnings.

More here from Yahoo Finance

Posted in Economy, Obama Administration | No Comments »

Obama Administration: Stimulus has had its biggest impact on Economy

Friday, October 23rd, 2009

Obama's Failed Economic Stimulus

Cristina Romer, the Obama Administration Chair of Council on Economic Advisers told a Congressional Panal that the nearly $1 Trillion Dollar Economic Stimulus, has already had its biggest jolt to the economy and will not contribute to any significant economic expansion next year.

With the nations unemployment rate at nearly 10% and 49 of 50 States Losing Jobs 7 months after Obama’s economic stimulus which was to have shaken the country out of its Recession creating 4 Million new jobs mostly in the private sector but has instead only created 30,383 jobs at a cost to the American taxpayer $71,500 per job isn’t it about time to stop the Democrat-Socialist runaway train?

More here from the Associated Press

Fierce Urgency for Jobs Not Health Care Via Washington Examiner

House Speaker Nancy Pelosi D-CA Calls Emergency Meeting to Push for “Robust” Public Option Via The Hill

Posted in Economy, Nancy Pelosi, Obama Administration | No Comments »

Obama Stimulus Net Results 49 of 50 States Higher Unemployment

Wednesday, October 21st, 2009

Unemployment

Remember when Obama claimed that Only Government can break the cycle of Job Losses and Economic Downturn and shake the country out of the recession creating 4 million jobs mostly in the private sector.

Obama Stimulus Failure 49 out of 50 States Have Lost Jobs

Last week the Obama Administration unveiled details of how well its Economic Stimulus has done, creating 30,383 jobs at a cost to the American Taxpayer of $71,500.00

More here from CNN Politics

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

ObamaCare Bankrupting Our Future

Tuesday, October 20th, 2009

Obama Deficit Spending

Senate Democrat-Socialists have now filed the mere 1,502 page Baucus bill which they claim it will “…provide affordable health care for all Americans and reduce the growth in health care spending and for other purposes.”

When has the government ever successfully reduced anything—like the Deficit?

Obama has been President for 10 months and during his watch the federal budget deficit has grown from $459 Billion to $1.42 Trillion. The Obama Administration forecasts continued deficits. The Congressional Budget Office estimates that the nations national debt held by investors will increase by 9.1 Trillion Dollars over the next decade.

Currently the government unfunded liabilities are approaching $106 Trillion Dollars. Its time for Americans to stop fooling themselves that we can somehow continue to manage soaring deficits. This continued path of runaway spending is unsustainable. Members of Congress are out of touch with reality and are ready to create a new federal entitlement that may just bankrupt this country.

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

During Obama’s Watch, Next Great Depression?

Wednesday, October 14th, 2009

Falling Dollar During Obama’s Watch: Gold rises above $1,070.00 an ounce and U.S. Greenback Slides.

Americans are paying more at the pump as oil prices are trading near $76.00 per barrel Thursday in Asia the highest since October, 2008

A weak economy and lackluster recovery has hurt the Airline Industry resulting in a reduction in flights and additional job losses.

The Congressional Budget Office is predicting unemployment peaking at 10.2% in 2010 and remaining at 9.1% in 2011 Are we Facing a Jobless Recovery? Via Washington Independent

Coming Next Year: Obama’s Inflation Via Dick Morris

Recession Is Over But The Depression Has Just Begun
Via Naked Capitalism

Obama’s Permanent Depression Via Asia Times

Posted in Barack Obama, Economy, Energy Prices | No Comments »