Quote of the Day
“Whether you like it or not, gun rights are civil rights. If you are against gun rights, then you are in the same pack as the Klan and the communists, and are as likely to vote to shut down churches and newspapers as you are to license and register guns.”
He’s not bluffing
Filed under: Barking Moonbats, Culture of Corruption, Our Dear Leader, Politics, Video
He’s not bluffing people. Remember what he said October 30, 2008: “…we are five days away from fundamentally transforming the United States of America.”
This may not be the change you were hoping for, but it is the change a bunch of moonbats and the woefully ignorant voted for.
Let’s not forget this quote from Valerie Jarrett, the woman who tells Obama how many times he can shake his dick after he pees.
In case you missed it, what she said was, “”It is important that President-elect Obama is prepared to really take power and be ready to rule day one.”
Not govern, not lead, but rule. Welcome to the “enlightened” second term of our Dear Leader, where he will continue to avoid dealing with the economy, or congress, and implement his vision through executive orders and oppressive regulations.
Quote of the Day
We’re $16+ trillion in debt, no federal budget in nearly four years, $1+ trillion deficits each of the last five years – and a president who says “We don’t have a spending problem.”
Quote of the Day
“Strike anyone else funny that Eric Holder is in group suggesting we do a better job of tracking guns?”
Al Gore sells out to Big Oil
Filed under: Barking Moonbats, Culture of Corruption, energy, Politics
Al Gore, the patron Saint of the Algore cult of Global Warming, sold his “Current TV” business to Al Jazeera, which is owned by the Emir of Qatar.
Qatar is one of those oil producing OPEC nations.
It seems that some of the “true believers” on the Current TV staff, who are all being fired, are a bit miffed over this.
Yesterday morning, the still shell shocked staff at Current TV was called to an all hands staff meeting at its San Francisco headquarters, which was teleconferenced to their offices in LA and NYC, to meet their new bosses…
“Of course Al didn’t show up,” said one high placed Current staffer. “He has no credibility.
“He’s supposed to be the face of clean energy and just sold [the channel] to very big oil, the emir of Qatar! Current never even took big oil advertising—and Al Gore, that bulls***ter sells to the emir?”…
“We do stories on the tax code, and he sells the network before the tax code kicked in?”
To quote Allahpundit: “Oh, the schadenfreude.” Perhaps now Algore can afford yet another giant, energy guzzling, mansion.
Quote of the Day
It comes as no surprise that the same people who worked themselves into a lathered frenzy of Gov. Romney’s “binders” are completely and utterly silent over VP Biden’s sexual harassment of a Senator’s wife.
Quote of the Day
Filed under: Barking Moonbats, economy, Obama Economy, Politics
If I had a nickel for every time I heard a liberal place social issues above economic issues, I’d have enough money to pay off the monstrous $16.4 trillion and counting national debt.
Quote of the Day
I made it to 2013 and all I got from the SciFi books of my youth was the lousy dystopian government.
A tale of two recoveries
Filed under: American History, economy, Obama Economy, Our Dear Leader, Politics, Taxes
First let us review some history and economic theory. Now you have heard often enough that the recent recession was the “worst since the Great Depression.” This bit of disinformation is repeated by those with a poor grasp or history and/or really don’t care if their information is accurate as long as it furthers their political agenda.
The worst recession “since the Great Depression” was clearly the recession American suffered through in the late 1970s. Double digit unemployment, double digit inflation and double digit interest rates! The prime rate actually hit 21%! So even if you had a job, the cost of living was rising faster and higher than you could possible get a raise and forget about buying a house with interest rates around 20%.
So we have that lie out of the way, let us get to some actual facts. The last recession end way back in mid 2009. That is when economy when from negative GDP growth to positive GDP growth. You may ask what growth? In most of America, there are still far too many empty store fronts as small business are shutting down faster than they are opening. What growth we have had has been anemic at best. GDP growth has not been over 2% in the three and half years since the last recession ended and employment has been over 7.5% and has even hit 10% during that time as well. What you are experiencing is clearly the worst recovery since the Great Depression.
Let’s review, worst recession followed by a roaring recovering in four years. Not the worst recession, worst recovery on record with no signs of getting better. Why such a glaring difference? Well the nice folks at Forbes covered this nicely. Let us review the facts about Reaganomics vs Obamanomics.
Reaganomics had four key points.
1. Cut tax rates to restore incentives for economic growth (just like JFK)
2. Real spending reductions, nearly 5% of the federal budget
3. Anti-inflation monetary policy
4. Deregulation, which saved American consumers an estimated $100 billion per year!
This simple plan resulted in the longest peacetime expansion in American history. The American standard of living increased by close to 20% and the poverty rate declined every year.
Now let’s look at Obama’s economic, and we are being generous here, plan. It is the exact opposite of President Reagan’s plan, which was clearly very successful. In addition to the new Obamacare taxes, he is calling for a sharp increase in the federal tax rate on the Americans who already pay the majority of the federal income tax. In additions, Obama is calling for increases in:
1. The capital gains tax
2. Corporate dividends tax
3. The Medicare tax
4. The death tax
Instead of spending cuts, Obama and the democrat controlled congress opened with nearly a trillion dollars in new federal spending, most of which was borrowed money, further increasing an already high federal debt.
Then we have the double-whammy of an inflationary monetary policy (the Quantative Easing non-stimulus acts) and massive re-regulation in health care, finance, energy and pretty much anything else Obama thinks he can get away with.
Mr. Ferrara sums up the results of the two policies nicely:
As a result, while the Reagan recovery averaged 7.1% economic growth over the first seven quarters, the Obama recovery has produced less than half that at 2.8%, with the last quarter at a dismal 1.8%. After seven quarters of the Reagan recovery, unemployment had fallen 3.3 percentage points from its peak to 7.5%, with only 18% unemployed long-term for 27 weeks or more. After seven quarters of the Obama recovery, unemployment has fallen only 1.3 percentage points from its peak, with a postwar record 45% long-term unemployed.
Previously the average recession since World War II lasted 10 months, with the longest at 16 months. Yet today, 40 months after the last recession started, unemployment is still 8.8%, with America suffering the longest period of unemployment that high since the Great Depression.
This is the Obama Economy. The worst recovery from a recession since the Great Depression. To make it worse, Obama’s policies are likely to cause that record to be broken, rather than produce real, sustainable economic growth.
Update: From Forbes: One Year Later, Another Look at Obamanomics vs. Reaganomics Here is the summary, it’s still Reagan for the win. Here are some of the highlights.
Let’s start with the GDP data. The comparison is striking. Under Reagan’s policies, the economy skyrocketed. Heck, the chart prepared by the Minneapolis Fed doesn’t even go high enough to show how well the economy performed during the 1980s.
Under Obama’s policies, by contrast, we’ve just barely gotten back to where we were when the recession began. Unlike past recessions, we haven’t enjoyed a strong bounce. And this means we haven’t recovered the output that was lost during the downturn.
This is a damning indictment of Obamanomics
…
Writing in today’s Wall Street Journal, former Senator Phil Gramm and budgetary expert Mike Solon compare the current recovery to the post-war average as well as to what happened under Reagan.
If in this “recovery” our economy had grown and generated jobs at the average rate achieved following the 10 previous postwar recessions, GDP per person would be $4,528 higher and 13.7 million more Americans would be working today. …President Ronald Reagan’s policies ignited a recovery so powerful that if it were being repeated today, real per capita GDP would be $5,694 higher than it is now—an extra $22,776 for a family of four. Some 16.9 million more Americans would have jobs.
…
…As I’ve written before, Obama is not responsible for the current downturn. Yes, he was a Senator and he was part of the bipartisan consensus for easy money, Fannie/Freddie subsidies, bailout-fueled moral hazard, and a playing field tilted in favor of debt, but his share of the blame wouldn’t even merit an asterisk.
My problem with Obama is that he hasn’t fixed any of the problems. Instead, he has kept in place all of the bad policies – and in some cases made them worse.
Quote of the Day Part II
Filed under: economy, Obama Economy, Our Dear Leader, Politics
The tv talking heads are all aflutter about Obama “cutting his vacation short” to “address the fiscal cliff”.
Give me a break. They had 2 years to deal with this. They might as well say “Obama heroically crams for test”.