“Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government.”
– President John F. Kennedy, January 17, 1963, Annual Budget Message to the Congress, fiscal year 1964
Note: Joe Biden is a bloody moron.
Tags: economy, John F. Kennedy, Politics, quote, Quote of the Day, taxes
Tags: 2012 election, economy, Ryan, Video
“An utterly insane number of Democrats think the economy is hunky-dory, not because it actually is, but because it simply has to be for their other silly beliefs to hold true. As a result, only 15% of Democrats reported that they’re hearing mostly bad things about the economy.”
Tags: economy, Obama economy, Politics, quote, Quote of the Day
Back in early August, I posted a chart that compared the GDP growth rate of inflation.
It showed that the GDP was growing slower than the rate of inflation, or to put it more simply, the money you have is losing value faster than the economy is growing.
It’s time for an updated version of that chart, since the Fed just reduced the GDP rate for Q2 2012 to 1.3%, not the 1.5% they projected back in early August.
As you can see, the economy under our Dear Leader’s regime is clearly going in the wrong direction.
Tags: Barack Obama, democrat, economy, incompetent, inflation, Obama economy, one-term President, Politics, Worst President Ever
Let’s take a look at how well average Americans have done under the rule of our Dear Leader, Barack Hussein Obama.
Not too well it seems. The average house hold income in America is down 8.2% since our Dear Leader started occupying the White House and inflicting Keynesian economic polices on the American people.
This clearly is not the change most Americans were hoping for. The only sane course for American is to remove BHO from office on election day so the economy and the country can start moving the right direction on January 20, 2013.
Tags: Barack Obama, economy, incompetent, Obama economy, one-term President, Politics, Worst President Ever
Obamanomics 101, Understanding How the Obama Economy Works
Tags: Barack Obama, democrat, economy, incompetent, Obama economy, one-term President, Politics, Video, Worst President Ever
It’s time again to take a look at the state of the US economy under the so called “guidance” of our Dear Leader.
As you can see we are still at an unemployment level that is much higher than what the Obama economic team promised us it would be if the federal government did nothing, and even higher still than what they claimed it would be if we passed the trillion dollar “stimulus” package. So, not only epic fail on the part of the Obama so called “economic team”, but actual evidence of incompetence is pretty damn clear.
It’s also pretty clear that they are trying to “cook the books” in order to hide their massive pooch screwing of the economy.
Let’s look at that unemployment number of 8.1% for August 2012. It dropped from 8.3%, with only 96,000 new jobs being added. As anyone who has been paying attention knows, you need to add at least 125,000 new jobs a month just to keep up with population growth. So America was short 29,000 jobs of breaking even. The reason the unemployment number when down is because the federal government stopped counting 368,000 Americans as being unemployed for a variety of reasons, none of which was that they became employed. One of the primary reasons that people dropped off the rolls of employed was that the people who were being counted exhausted their unemployment benefits. They are still unemployed, but the feds don’t count them anymore. So in the is case, the reduction in the “official” unemployment rate is an indication that things are getting worse, not better.
Need another example? The Egan-Jones credit rating agency just downgraded the US government’s credit rating. This is because the Obama regime has initiated a third round of “Quantitate Easing.” Incase you don’t know what that means, the Fed created $40 billion out of thin air and inserted that into the money supply. So you have more dollars chasing the same amount of goods. This is bad news for the American consumer. If you still don’t get it (i.e. you can’t repeal the Law of Supply and Demand), here is a helpful instructional video
Tags: Barack Obama, democrat, economy, incompetent, Obama economy, one-term President, Politics, Worst President Ever
Nothing fancy, just tracking inflation and GDP for the first half of 2012 to see how our Dear Leader’s economic polices have been working out.
As you can see, what money you have left after taxes is loosing value at a faster rate than the economy has been growing.
The only positive thing about this illustration is that it shows inflation is on the decline. Which is good for you the tax paying, goods consuming citizen, and bad for our Dear Leader and his economic team. They actually want inflation to rising, not falling. Look it up, their plan was a sharp spike in inflation so they could pay off the massive government debt (currently $15.9 Trillion and rising) with money devalued by inflation. Their greatest fear is deflation, where the currency actually gains value.
The decline in GDP is a clear indication that the American people should not repeat the economic policies of Barack Hussein Obama, which has put the country in the worst economic “recovery” since the Great Depression.
Tags: Barack Obama, democrat, economy, incompetent, Obama economy, one-term President, Politics, Worst President Ever
Let us review just what this chart illustrates.
Our Dear Leader promised the American people that if his massive “porkulus” bill was passed, unemployment levels would drop much faster than if the government did absolutely nothing to try and improve the economy. A government driven unemployment rate of 5.6% was promised by July 2012, instead of the to be feared 6.0% rate of no government action.
Now to inject reality into our Dear Leader‘s “planned economy” model. The reality is that unemployment went up from 8.2% to 8.3%. The United States is 2.3% worse off than if the federal government had done nothing! According to Obama’s own metrics, his attempts to “improve” the economy has actually made things worse!
Now, one could cut the President some slack, since he has extremely limited experience with the private sector, and trusted academics with absolutely zero private sector experience for his economic advice. That is if he was willing to admit the error of his ways and come clean with the American people that he made mistakes, very large mistakes, that stole money from pockets of the American worker, and is now willing to try concepts that are new to him, but have improved the economy in past recession recoveries.
Ya, I know, that scenario just is not going to happen. Our Dear Leader and his ‘advisers’ are doubling down on their failed policies and trying to tell Americans who have seen their net worth go down while the price of food and fuel go up, that his plan is “working.”
Seriously, he is blowing so much smoke up the collective asses of America that his speeches should come with a cancer warning.
Tags: Barack Obama, democrat, economy, incompetent, Obama economy, one-term President, Politics, porkulus, Worst President Ever
You must have noticed this before, leftists are bad at history. Even when they are “good” with most historical items, they selectively edit history to line up with their political views. Views with tend to run at odds with reality.
An example I’ve listed before is where one leftist accused President Reagan of reinstating draft registration as part of his ‘war mongering.’ He was not happy when I pointed out that it was Jimmy Carter, the worst president of the latter half of the 20th Century, who did that.
Here is a new example, a very smart fellow, whom I know is a more than mildly serious history buff, rattled off a very clear, concise and accurate, summary of the failure of Solyndra. It was however, missing some key facts that didn’t fit his political world view.
The facts missing completely change the narrative, which is what he objects to.
The facts in question are:
In the world of the left, Solyndra failure was ‘not their fault’ and had nothing to do with Obama paying off his political donors with tax payer money.
If this was the only case of a company, which happens to be run by a big DNC/BHO donor, receiving millions of taxpayer dollars as part of BHO’s “Green Jobs” program, and then “unexpectedly” went bankrupt, I’d be willing to buy into this particular leftist fantasy. It is a leftist fantasy because there have been multiple other companies that fit this same profile.
Tags: Barack Obama, culture of corruption, democrat, economy, energy, History, incompetent, leftist hypocrisy, one-term President, Politics, Worst President Ever