Archive for the ‘layoffs’ Category
October 2nd, 2011 | 
Author: 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!
Posted in 2012, administration, banking system, economy, job losses, jobless benefits, jobless rate, jobs, layoffs, politics, polls, president, taxes, Treasury, Unemployment, unemployment rate, US banking, welfare, White House | 
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.: White House Document Dump on Friday Points the Finger at …
In 2010, Creamer led efforts to rally the Democratic base by demonizing Republicans and making wildly optimistic predictions of victory: Big Government also reported in May that Creamer, who worked for the Obama …
DownWithTyranny!: Does Obama Have A Base Problem– And Why His …
Yesterday Benjy Sarlin at TPM reported that the White House is insisting they don't have a base problem. In America, we know very well they do– and it's the same base problem they kept as many as half the Democrats and …
A new ABC News/Washington Post poll reveals a whole crop of revelations, and among them, there are strong indications that Obama’s liberal base is starting to crumble.
You can read the ABC News/Washington Post Poll, but before you do, here are some of the most important nuggets of information.
In spite the hundreds of billions of blown stimulus dollars, and almost as many upturn promises from Joe Biden,
82% of Americans still say their job market is struggling.
90% rate the economy negatively, including half who gave it the worst rating of "poor."
Are You Better Off Today Than Jan. 20, 2009?
A slim 15% claimed to be "getting ahead financially", half what it was in 2006.
Fully 27% said they’re falling behind financially and that’s up 6% since February.
A significant majority (54%) said that they’ve been forced to change their lifestyle significantly as a result of the economic times and 60% of them are angry, which is up from 44%.
More than a third of Americans now believe that President Obama’s policies are hurting the economy, and confidence in his ability to create jobs is sharply eroding among his base.
Liberal Support
Strong support among liberal Democrats for Obama’s jobs record has plummeted from 22% from 53% which is down below a third.
African Americans
And African Americans who still believe the president’s measures helped the economy has plunged from 77% to barely half that.
Job Approval
Obama’s overall job approval on the economy slid below 40% for the first time, with 57% disapproving.
And strong dis-approvers outnumbered approvers by better than two-to-one.
The By And By
A new Mitt Romney video is aimed directly at the core of Obama’s politcal base, young Americans who volunteered for him by the tens of thousands in 2008 and powered him to victory in state after state.
The Upshot
If joblessness disillusions enough of them, then the president will be in even deeper trouble than he is now.
Posted in 2012, administration, banking system, congress, crisis, deficits, economy, financial system, government, job losses, jobless rate, jobs, layoffs, politics, polls, president, presidential elections, recession, Senate, stimulus package, taxes, Unemployment, US banking, US banks, US economy, wealth, White House |
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