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Archive for the ‘jobless benefits’ Category

An “Act of War”: Obama’s Destruction of the U.S. Energy Industry …

Kevin Mooney tabulates the damage that the Obama administration is doing to the Gulf economy, and to the energy industry generally: Ten oil rigs have left the Gulf of Mexico since the Obama Administration imposed a …

Publish Date: 08/23/2011 22:10

http://mayrantandrave.com/2011/08/23/an-act-of-war-obamas-destruction-of-the-u-s-energy-industry/

Bob Chapman: Obama's Deliberate Destruction of America …

1 comment to Bob Chapman: Obama's Deliberate Destruction of America. David. October 1, 2011 at 9:41 am · Reply. I am going to have to agree with Chapman. I think the destruction of America has been a deliberate attempt. …

Publish Date: 10/01/2011 6:51

http://sgtreport.com/2011/09/bob-chapman-obamas-deliberate-destruction-of-america/

As promised, the Obama administration fundamentally transformed America!

America is now in serious decline.

Income is lower.

Unemployment is higher.

Jobs are fewer.

Government is much larger.

Federal spending is way up.

America’s global economic status is way down.

The world-view of our country and our economy is in the pits!

And perhaps worse still, hardly anyone sees any sign of economic recovery or improvement.

Let’s look at the Labor Department data on the number of Americans 16 and older unemployed for 52 weeks or more during the five most recent recessions:

1976   750,000

1982 1,600,000

1994 1,200,000

2004 1,100,000

2010 4,300,000

Total government spending averaged about 19% of gross domestic product from 1996 to 2007 and rose to about 21% in 2008 but in the three years of the Obama administration it soared to 25%.

Why Did It Happen?

The Obama administration is focused on its increasing control of health care, propping up labor unions, increasing taxes, and expanding the scope and size of government.

In the first 70 years of the 20th century, American and European economic growth increased together, but then the Europeans shifted toward socialism, and their growth lagged.

And America is rapidly moving toward the European model, and we are starting to see its detrimental impact.

President Obama’s recent spending and tax policy proposals would only make things worse.

He wants to increase the federal deficit by increasing spending and providing some targeted, but short term, payroll tax cuts.

And this is at a time when we need to bring the federal deficit down and fast!

Obama’s Plan

Although Obama’s plan would actually increase the deficit by $447 billion over the next year or two, Obama says his increase will be "paid for", and to do it, he’s proposed a series of permanent tax increases.

But America’s economy is already facing two significant tax increases.

The first will be the end of the Bush tax cuts in December 2012.

And because of ObamaCare, starting in 2013 taxpayers making more than $200,000 will pay an additional 3.8% on investment and interest income.

The Near End Of Giving To Charity?

The new Obama proposals include reduced itemized deductions allowed for any individuals earning more than $200,000 a year ($250,000 for married couples) and included in that proposal, is a government plan that would take some of the money that would have gone to charity and instead funnel it to federal government spending.

The Effect Of Tax Increases

Tax rate increases more often than not bring in reduced tax dollars!

The Cato Institute’s Alan Reynolds demonstrated in his recent Wall Street Journal piece that the 28% tax rate on long-term capital gains brought in $36.9 billion a year from 1987 to 1997, while the current 15% rate in 2004 to 2007 brought in $96.8 billion per year.

Did Obama Change His Tune?

Last December when the president extended the Bush tax cuts, he acknowledged that tax hikes both slow economic growth and deter job creation, something he seems to have forgotten!

The higher taxes on energy producers are particularly discouraging, given the importance of energy to our economic recovery and the administration’s continued clampdown on energy production.

Can It Get Any Worse?

Sadly, "Yes".

In another measure that is counterproductive to economic growth, the Obama plan includes extending benefits for the long-term unemployed, even though studies show that long term employment benefits raise the unemployment rate from 0.5 to 1.5 percentage points.

President Obama has said that:

"Everything in [his new] bill will be paid for", and that it "will not add to the deficit".

But it will be paid for in the future, and the president is effectively saying that we should add some more to the deficit now in return for promises of future spending.

The Bottom Line

None of the administration’s programs bode well for the good or for the future of America or its people.

American Enterprise Institute’s Director of economic policy Kevin Hassett said earlier this month:

"The Obama administration’s position throughout this recovery has been that the U.S. can have the highest corporate tax on earth, a big regulatory crackdown, and a vast expansion of labor-union power and still expect a positive jobs story because of cash-for-clunkers and green jobs. This jobs report indicates how much damage that view has done".

In the end, the newest Obama proposals are proof that his recent centrist posturing was just that, posturing.

The new proposals are a continuation of the old Obama New Party (read communist) policies, and they are policies that sadly have extended the recession, stifled economic growth, and will for some years to come, weaken America!

'Are You Better Off Than You Were Four Years Ago?' – New America …

newamericatoday.com12/27/11

He will try to win re-election while likely saddled with a higher unemployment rate than any other president seeking a second term in 76 years. Mr. Obama undoubtedly would prefer to forgo that distinction, but there is no escaping the harsh economic backdrop that will mark the campaign of 2012. The economic malaise sets the stage for a presidential contest that analysts in … Tags: 2012,; Democrats,; GOP nomination,; President Barack Obama,; unemployment rate …

It's the Math, Stupid!: Seven Devastating Facts About 2012 – Big …

biggovernment.com12/27/11

Mathematical facts two and three—11% real unemployment and 20% male unemployment rate—focus the nation on the priorities of spurring economic growth, eliminating Obamacare, and adapting to the realities of the digital economy. ….. Screw this whole mess. Screw the Democrats. Screw the Republicans. Get some people in office who understand that financing our way through life can only end in either collapse, tyranny or revolution – and possibly all three. …

You Can’t Polish A Turd!

Obama tried to put a positive spin on the latest unemployment figures but the figures were dismal and voters will base their upcoming voting decisions on their feelings about job security or lack of it.

Yes, there was an increase of 83,000 private-sector jobs, and the unemployment rate did seemingly drop to 9.5% from 9.7%.

But what was not made clear is that the country needs to create about 150,000 private-sector jobs a month just to keep up with population growth, and the 33,000 created in May and 83,000 in June fell far short of that figure.

And what’s perhaps even worse is the that unemployment rate dropped simply because about 650,000 people who had been in the job market stopped looking for work last month, apparently due to poor prospects which is pretty horrific to say the least.

Voters’ Perceptions Are Why The Dems Are Done For

A Quinnipiac University national poll released May 26, shows that 74% of voters thought the U.S. was still in a recession, compared with 71% who felt that way in May of 2008.

Come November, the question that voters will answer is whether or not the Dems $787 billion economic stimulus program worked, and according to a just released CBS/New York Times poll only 6% of Americans believe the $787 billion package created jobs.

Six percent is a horrendous figure, and on top of that voters will ask themselves if the increased regulations and the higher costs of doing businesses that are now necessary to pay for services such as the health care overhaul are helping or hindering unemployment.

At the time of writing, elections are just four months away which means there are only three more unemployment reports left, because the October report comes out three days after the November election.

The reports will not show any major changes and they are just as likely to show a worsening trend as an improving one, meaning that the Dems will most likely lose control of the House and possibly the Senate too.