Rep. Mike Pence delivered one heck of a speech. Pence sounded the warning to fight the radical Democratic agenda and challenged the Republican party not to shy away from the challenge. If you don’t have time to watch the full video go to 13:10 when Rep. Pence said, “A nation conceived in liberty has come of age in bondage to big government.”
The reason Geithner is being quite frank is because he is well aware the Obama Administration hasn’t a clue how to fix the economy or remedy the unemployment numbers.
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The jobless rate rose in 27 states in the month of February with four states hitting record highs. It seems this administration only pays lip service to reviving the economy while focusing on legislation that will send the economy into further ruin.
CNBC – Joblessness in four states—Florida (12.2 percent), Nevada (13.2 percent), Georgia (10.5 percent) and North Carolina (11.2 percent)—hit record highs.
In all, 27 states saw their rates increase in February over the previous month. Seven states and the District of Columbia reported a decrease and 16 states had no change in their unemployment, according to the Labor Department.
Michigan still had the highest jobless rate in the nation, though it dipped to 14.1 percent from 14.3 percent in January.
Behind Michigan, Nevada had the second highest jobless rate in the country with 13.2 percent, followed by Rhode Island (12.7 percent) California (12.5 percent), South Carolina (12.5 percent) and Florida.
North Dakota again had the lowest jobless rate in country at 4.1 percent.
Just a piece of advice to President Obama, “It’s the economy stupid!” Focus on reviving the economy and growing the private sector jobs.
This doesn’t bode well at all. Would someone please take the credit card away from these loons? This is unsustainable which is going to lead to the economic collapse of the United States.
President Obama’s fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation’s economic output by 2020, the Congressional Budget Office reported Thursday.
In its 2011 budget, which the White House Office of Management and Budget (OMB) released Feb. 1, the administration projected a 10-year deficit total of $8.53 trillion. After looking it over, CBO said in its final analysis, released Thursday, that the president’s budget would generate a combined $9.75 trillion in deficits over the next decade.
“An additional $1.2 trillion in debt dumped on [GDP] to our children makes a huge difference,” said Brian Riedl, a budget analyst at the conservative Heritage Foundation. “That represents an additional debt of $10,000 per household above and beyond the federal debt they are already carrying.”
The federal public debt, which was $6.3 trillion ($56,000 per household) when Mr. Obama entered office amid an economic crisis, totals $8.2 trillion ($72,000 per household) today, and it’s headed toward $20.3 trillion (more than $170,000 per household) in 2020, according to CBO’s deficit estimates.
That figure would equal 90 percent of the estimated gross domestic product in 2020, up from 40 percent at the end of fiscal 2008. By comparison, America’s debt-to-GDP ratio peaked at 109 percent at the end of World War II, while the ratio for economically troubled Greece hit 115 percent last year.
Harry Reid told the Senate today, “It’s a good day. Only 36,000 people lost their jobs.”
Sorry Harry, I don’t think it’s a good day when anyone loses a job. All though, the more I think about it, it will be a great day when you lose your job! Buh bye
President Obama’s chief economic adviser Larry Summers told reporters yesterday that increasing taxes is a great way to spur job growth. He said it without cracking a smile too!
President Obama continuously tries to portray himself as a friend to the little-man, middle class and small business. Hence his attacks on “fat cats” who “just don’t get it,” while labeling the extravagant bonuses as “obscene,” and “the height of irresponsibility.”
Meanwhile, members of his administration, in defending a sweeping small-business aid program Obama announced in his State of the Union, give reason to wonder if they really understand how to help small business.
Among the administration’s proposals for small businesses are a $5,000 tax credit to hire new workers, elimination of capital gains taxes, and new incentives to invest in plants and equipment. At the same time, however, the administration plans to raise taxes on “the wealthiest Americans.”
Obama’s chief economic adviser Larry Summers appeared Feb. 9 on the Fox Business Channel to discuss the administration’s economic agenda and defended proposed rate-hikes for those making over $250,000. “Almost all economists who studied these things have that kind of view,” he told Fox’s Liz Claman.
Perplexed, Fox News contributor Gary B. Smith replied: “it’s the biggest bunch of B.S. I ever heard … this is such a political game. , Larry Summers thinks everyone is Rockefeller living in their Newport, Rhode Island mansion. These are guys that are starting businesses, investing. You can’t give people business money to hire people, they have to have a reason for hiring these people and that’s because they see sales increasing or costs decreasing. You can’t just say ‘go hire these five people’ because the businesses will go ‘What for? I don’t have the demand!’”
I just wish President Reagan had known this when he took office in 1981! Who knows what kind of economic growth we could have had. Seriously, these people don’t have clue what’s going on or how to fix the problem.
Business Media Institute via Gateway Pundit
Glenn Beck breaks down the financial problems that Americans are actually facing using real math and real numbers.
The American people see Obama’s economic stimulus plan as a failure and according to a CNN Poll the American people are opposed to the Stimulus Program by 56%. This represents a 12% increase since March 2009.
CNN – Fifty-six percent of people questioned in a CNN/Opinion Research Corporation survey released Sunday say they oppose the stimulus package, with 42 percent supporting it.
Last March, just weeks after the stimulus bill was signed into law by President Barack Obama, a CNN poll indicated that 54 percent of the public supported the program, with 44 percent opposed.
The program, formally known as the American Recovery and Reinvestment Act of 2009, attempts to stimulate the country’s economy by increasing federal government spending and cutting taxes at a total cost to the government of $787 billion. No Republicans in the House and only three in the Senate voted in favor of the bill.
Perhaps the reason the American people oppose the stimulus program is the inconsistent message from the Obama administration. Consider this from the three spinmeisters on the Sunday talk shows:
Three senior administration munchkins, three wildly different estimates of jobs invented or imagined by the economic “stimulus” plan:
White House advisers appearing on the Sunday talk shows gave three different estimates of how many jobs could be credited to President Obama’s Recovery Act.
The discrepancy was pointed out by a Republican official in an email to reporters noting that “Three presidential advisers on three different programs [gave] three different descriptions of the trillion-dollar stimulus bill.”
Valerie Jarrett had the most conservative count, saying “the Recovery Act saved thousands and thousands of jobs,” while David Axelrod gave the bill the most credit, saying it has “created more than – or saved more than 2 million jobs.” Press Secretary Robert Gibbs came in between them, saying the plan had “saved or created 1.5 million jobs.”
Apparently, none of those three jobs required any math skills. Whatsoever.
It’s hard to hire good spin doctors these days.It’s even harder to believe anything coming out of the Emerald House these days. They can’t keep their lies straight anymore.
Via memeorandum
Global Warming Scientist Michael Mann Awarded Half A Million In Stimulus Money. Does this fall under “jobs saved or created?”
As many of you might remember Mann was implicated in the global warming email conspiracy.
Now to make matters worse we find out that this same dangerous junk scientist is receiving a half million dollars in Stimulus cash.
The National Center for Public Research is reporting:
In the face of rising unemployment and record-breaking deficits, policy experts at the National Center for Public Policy Research are criticizing the Obama Administration for awarding a half million dollar grant from the economic stimulus package to Penn State Professor Michael Mann, a key figure in the Climategate controversy.
“It’s outrageous that economic stimulus money is being used to support research conducted by Michael Mann at the very time he’s under investigation by Penn State and is one of the key figures in the international Climategate scandal. Penn State should immediately return these funds to the U.S. Treasury,” said Tom Borelli, Ph.D., director of the National Center’s Free Enterprise Project.
Professor Mann is currently under investigation by Penn State University because of activities related to a closed circle of climate scientists who appear to have been engaged in agenda-driven science. Emails and documents mysteriously released from the previously-prestigious Climate Research Unit at the University of East Anglia in the United Kingdom revealed discussions of manipulation and destruction of research data, as well as efforts to interfere with the peer review process to stifle opposing views. The motivation underlying these efforts appears to be a coordinated strategy to support the belief that mankind’s activities are causing global warming.
“It’s no wonder that Obama’s stimulus plan is failing to produce jobs. Taxpayer dollars aren’t being used in the ways most likely to spur job creation. The stimulus was not sold to the public as a way to reward a loyalist in the climate change debate. Nor was the stimulus sold as a way to promote the Obama Administration’s position on the global warming theory. This misuse of stimulus money illustrates why tax cuts are a better way to stimulate the economy than letting the government decide where to spend taxpayer dollars. As is often the case, political considerations corrupt the distribution of government funds,” said Deneen Borelli, a fellow with the National Center’s Project 21 black leadership network.
“Mann’s credentials as a climate change alarmist seems to fit the political criteria for stimulus funds sometimes known as ‘Obama money’,” added Deneen Borelli.
Mann is a central and controversial figure in climate change research. Mann’s so-called “hockey stick” graph depicting temperature changes over a 1000 year period was used as evidence in the United Nations’ Intergovernmental Panel on Climate Change (IPCC) 2001 report to conclude carbon dioxide from industrial activity is causing global warming. Mimicking the shape of a hockey stick, the graph showed a long period of stable temperatures (the shaft) followed by a rapid rise in temperatures (the blade) during the last hundred years.
Critics of the hockey stick claim Mann manipulated data to eliminate the medieval warming period and the little ice age to eradicate the visual impact of natural global temperature variation. The emails from Climategate reveal that the inner circle of climate scientists were troubled by the methods Mann used to produce the graph.
Just trying to justify how this falls under “jobs saved or created?” Could it be the Obama administration paid half million dollars to save Michael Mann’s job? Just wondering.
If you’re into Keynesian economics, you’ll agree with President Obama’s assessment of the direction of our country.
(Breitbart) – Obama says unemployment rates are ’still pointing in the right direction’ despite job losses.
H/T Gateway Pundit
