Books, movies, politics, and whatever I want

Archive for the ‘economy’ Category

Obama adds $2 Trillion to the National Deficit

Saturday, August 22nd, 2009

As that Supra-Genius Joey Biden said, “We have to spend in order to avoid bankruptcy.”

Well, his boss, our Dear Leader has put his ideological goals ahead of the well being of the nation and implemented his personal spending habits (which put him $300,000 in debt with an annual house hold income of over a half million dollars) as the President of the United States of America.

So, right before slipping out of D.C. to head to Martha’s Vineyard on vacation, the White House quietly announced that it is raising its projection for the national deficit to $9 trillion from $7.108 trillion.  The CBO has been saying $9 Trillion for a while, and most of DNC membership has been in denial.  Well folks, facts are stubborn things, and reality even catches up with our Dear Leader every now and then.

HT to Ace.

Tags: , , , , ,

Monday Book Pick: Space: The Free-Market Frontier

Monday, July 20th, 2009

Space: The Free-Market Frontier by Edward L. Hudgins

The way to make space travel work is let the free market do it. It’s the way God and Robert Heinlein intended it to be.

The Monday Book Pick Archive.

Tags: , , ,

The Biden Effect

Monday, July 20th, 2009

We all know what the “Gore Effect” is. Whenever ManBearPig goes to speak about “Global Warming”, the temperature plummets.

Now we have the Biden Effect. ever our Dear Leader‘s Vice-President shows up to lie to the American People about how well the democrat‘s Porkulus bill is doing, unemployment shoots up in that area.

Tags: , , , , ,

We the People Stimulus Package

Friday, July 17th, 2009

HT to AoSHQ

Tags: , , ,

Obama’s Dismal Failure

Wednesday, July 15th, 2009

The democrat’s “stimulus” bill has been proven to be what it was labeled when it was rammed through congress and down the throats of the American people, a “porkulus” bill. It was supposed to boost the economy, but has had the predictable, opposite effect.

House Republicans, attempting to regain the mantel of fiscal responsibility after screwing that pooch, point out the failure of the democrats porkulus sceme

“The report we got from the Department of Transportation is dated July 3rd,” said Mica at the Capitol Hill press conference. “It indicates how much money of the $48 billion [allocated to the Transportation Department] they have control over has gone out — that’s $523 million – 1 percent, approximately 1 percent. And the top 10 states of unemployment, our leading states, including the District of Columbia, only $83 million has gone out to those states.”

“This stimulus package was sold to the country as being an infrastructure bill,” said Rep. John ‘Jimmy’ Duncan (R-Tenn.), “and yet only somewhere between 7 and 8 percent of it was aimed at or provided for infrastructure in the first place.”

“Remember, the stimulus promised 3.5 million jobs was being created, and yet 2 million jobs – additional lost jobs – have been lost. Dismal failure.”

“The stimulus promised,” said Diaz-Balart, “and we were told that in the budget committee and we were told that publicly by the administration, that unemployment would not go above 8 percent if that stimulus passed. Look at the numbers now.”

Of course the democrat’s porkulus bill isn’t helping the economy. That isn’t what it was intended to do. The goal of the Obama administration is not to fix the economy, but to fundamentally change the role of government in the United States of America.

Tags: , , , , , , ,

Evaluating the Stimulus effect

Monday, July 13th, 2009

Our Dear Leader and his democrat cronies are backpedaling and trying to lower expectations on their massive porkulus program funded by skyrocketing massive federal debt.

The fact that the pork ladened democrat driven stimulus bill is not stimulating the economy or creating jobs shouldn’t be a surprised.

Harvard economics professor Greg Mankiw pointed out back in January that almost two thirds of the stimulus money is not scheduled to be spent until after 2010. For Americans suffering under the Obama Economy, that is not good news. It is clearly designed to delay economic benefit until the beginning of the 2012 election cycle.

It isn’t helping the economy now, because only 8% of the one trillion dollar porkulus program is scheduled to be spent in 2009! We are now learning that the money is being spent much more slowly than planned, and appears to be directly funded to areas and organizations that were strong supporters of our Dear Leader. Yup, hardly surprising that there is more than whiff of corruption associated with the democrats porkulus program.

It’s interesting to look back at what the Congressional Budget Office had to say about the economy back in February. They projected an unemployment peak of 9.2% hitting in early 2010. That was if the federal government kept its mitts off the economy. Given the liberal democrat meddling, we hit 9.5% at least six months early. The CBO predicted that the economy would be on the mend by late 2009. So it is clear that our Dear Leader‘s meddling has made things worse for the American people.

The important thing to remember is that Obama’s goal is not to fix the economy, but to fundamentally change the role of government in the United States of America.

Update: Keith Hennessey has an excellent fisking of our Dear Leader’s statement on the economy.

Tags: , , , , , ,

California banks say NO to state government IOUs

Saturday, July 11th, 2009

Major banks in California, including Wells Fargo and Bank of America, have announced that they will no longer accept IOUs from the bankrupt, spendthrift, California state government.

While Gov. Schwarzenegger may have slowed the pace of California’s decent into the third world, the reckless spending habits of the hard far left liberal democrat majority in the state legislature has predictably brought this once prosperous state to ruin.

The rest of the country should take note.

Tags: , , , ,

Obama: Carter on Steriods?

Friday, July 3rd, 2009

We already know that our Dear Leader determined to do all the things sane people didn’t like about GWB and take that foolishness to new levels (increased spending, higher deficits, expanding government).

Now he is out to prove that he can be a worse President than Jimmy Carter (by any rational measure, the worst President of the latter half of the 20th Century, and the last fifty years to boot). Unemployment is up to a record 9.5% and will probably hit double digits under the mismanagement of Team Lightbringer. Ace does have a kind word about our Dear Leader’s handling of the issue, “In the spirit of saying something nice about Obama: he’s tanked the economy very quickly.”

Another hallmark of the horrors known as the Carter administration was record high inflation and interest rates. Don’t worry, our Dear Leader has that covered. His plan to deal with the record high, back breaking, federal deficit he and his congressional democrat partners in crime have created is to jack up inflation. Only to 6% or 8%, just so they can pay off the debt with dollars that are worth less.

Wait! It gets better! How do you slow rampant inflation? You jack up interest rates! Keep in mind it will also slow or halt any economic growth, but BHO and the congressional democrats have a really sweet pension plan complete with great health coverage that their socialized health care plan for rest of American won’t effect.

You shouldn’t be surprised by any of this. Improving the economy just isn’t a priority for our Dear Leader. Massive social change and the restructuring of the function of the federal government is.

Update: Gay Patriot post: Despite Failure of “Stimulus” to Work as Advertised,
President Focuses on Regulatory Schemes, not Economic Recovery

Apparently, Obama is more interested in exploiting the economic crisis to achieve his own political goals* than to first accomplish what he was elected to do. Recall, how the polls started shifting in the Democat’s direction as the scope of the financial meltdown became clear. He used the economic downturn to his political advantage. People trusted him to fix the economy.

But, now instead of focusing on the economy, he continues forward a myriad of initiatives, many of which would place burdens on private industry, you know, companies which tend to create new jobs. Instead of getting us out of the mess that Obama “inherited,” the “stimulus” has made it worse.

Small businesses aren’t hiring because they are “paralyzed by regulatory uncertainty.” If they had greater confidence in the Administration’s economic plans, were less skeptical about its attitude toward the private sector, these employers might be expanding their businesses, hiring new workers and spurring economic growth.

Given the regulatory schemes proposed by the Obama Administration and the legislation proposed by the Democratic Congress, no wonder the economy continues to stagnate.

Here is the bottom line on the democrat’s porkulus package. It didn’t create jobs, it created work. The stuff your money is going for is mostly infrastructure construction jobs that will go away when when the federal money runs out. Work that, for the most part, should have been done already with your gas tax money. Money misspent by state governments. There were plenty of actions that the federal government could have taken that would have created lasting jobs, that would product value, and grow the economy, but that just wasn’t a priority for Barack Hussein Obama and the congressional democrats.

Tags: , , ,

Schoolhouse Rock: “Tyrannosaurus Debt”

Thursday, July 2nd, 2009

This is an actual Schoolhouse Rock episode from the 1990s. This next graph will help put just how much our Dear Leader plans on increasing our already too large debt by.

obamadebt

When your problem is massive federal debt, the solution is clearly not massively increasing the size of that debt. Clearly, our Dear Leader is more interested in implementing massive social chance, in a far left lurch to socialism, than he is in repairing damage done to the US economy by other liberal democrat attempts at social engineering.

Tags: , , , ,