Editorial: Did Bo (Obama’s dog) Eat the Recovery?
BLAME GAME: IN HIS INAUGURAL ADDRESS 2 1/2 YEARS AGO, PRESIDENT OBAMA CALLED FOR A "NEW ERA OF RESPONSIBILITY." Yet lately, his main goal in life seems to be escaping any responsibility for the lousy economy.
It's getting so you have to keep a list of everyone and everything Obama wants to blame for the anemic economic recovery.
So far, it includes:
1. President Bush
5. The Media
7. Bad Luck...
It is going to be a nasty election and in the end all Obama’s finger pointing and nastiness will be for naught.
Residential starts drop 1.5%, single-family starts drop 4.9% in July
The housing market continues its struggle to find a bottom. The Census Bureau and HUD’s numbers for residential construction in July show sharp declines in permits and starts:…
Things do not look promising for the Economy and with it Obama's and the Democrats chances.
Obama’s Bus Made In Canada
President Obama is barnstorming the heartland to boost US jobs in a taxpayer-financed luxury bus the government had custom built -- in Canada, The Post has learned.
THE $1.1 MILLION VEHICLE, ONE OF TWO THAT QUEBEC-BASED PREVOST SOLD THE GOVERNMENT, HAS BEEN TRICKED OUT BY THE SECRET SERVICE WITH STATE-OF-THE-ART SECURITY FEATURES AND CREATURE COMFORTS….
I guess the jobs created or saved here were in Canada.
Free Meals for All
All Detroit Public Schools students will receive free breakfast, lunch and snacks in an effort to remove the stigma of being from a low-income family.
The U.S. Department of Agriculture program chose Michigan as one of three states to participate in the pilot program. Charter schools and districts in Michigan can participate if at least 40% of students are eligible for public assistance.
Here’s an example of an idea with a good intention which is just plain nuts. We are $14 trillion in debt and the DOA wants to add to that feeding kids who aren’t poor.
Obama to deliver major speech on job growth after Labor Day
PRESIDENT OBAMA WILL DELIVER A MAJOR SPEECH IN EARLY SEPTEMBER PRESENTING NEW IDEAS FOR BOOSTING JOB GROWTH AND THE FLAGGING ECONOMY, ACCORDING TO A SENIOR ADMINISTRATION OFFICIAL.
The president is expected to deliver the address shortly after the Sept. 5 Labor Day holiday, the official said.
The new economic package will include tax cuts, increased infrastructure spending and long-term ideas to tackle the nation's debt, according to a report in The Associated Press, which first broke the story.
Isn’t this about 970 days late? And what new ideas are there in “tax cuts and increased infrastructure spending?”
Why Obama is Already Going Negative
Nobody should be surprised that the chief executive is willing to distort the facts about those treaties. HIS $859 BILLION ECONOMIC STIMULUS PROGRAM WAS A MISERABLE FAILURE, SOLID MAJORITIES OF THE PUBLIC NOW DEMAND REPEAL OF OBAMACARE, UNEMPLOYMENT REMAINS ABOVE 9 PERCENT, his Gallup approval rating is in the tank at 39 percent, and many economists say there's a one-in-three chance of a double-dip recession. IN OTHER WORDS, OBAMA CAN'T RUN ON HIS OWN RECORD, so he believes he has to run down everybody else's record to have a chance at a second term.
We learned as much last week when Politico reported that the president's "aides and advisers are preparing to center the president's reelection campaign on a ferocious personal assault on Mitt Romney's character and business background, a strategy grounded in the early-stage expectation that the former Massachusetts governor is the likely GOP nominee." POLITICO QUOTED AN ANONYMOUS DEMOCRATIC CAMPAIGN AIDE WITH CLOSE TIES TO THE OBAMA WHITE HOUSE WHO SAID "UNLESS THINGS CHANGE AND OBAMA CAN RUN ON ACCOMPLISHMENTS, HE WILL HAVE TO KILL ROMNEY."
THEY WILL ALSO "KILL" GOV. RICK PERRY OR ANY OTHER REPUBLICAN PRESIDENTIAL NOMINEE. The Texan had hardly finished his candidacy announcement in South Carolina before Obama strategist DAVID AXELROD TROTTED OUT THE LINE THAT MOST OF THE JOBS CREATED IN TEXAS UNDER PERRY ONLY PAY THE MINIMUM WAGE AND ARE MOSTLY IN THE ENERGY INDUSTRY. The reality, according to government data cited by the PoliticalMath.com blog, is that HOURLY WAGES IN TEXAS ARE RISING AT THE SIXTH-HIGHEST RATE IN THE NATION, AND ONLY ABOUT 25 PERCENT OF THE STATE'S NEW JOBS ARE IN THE ENERGY SECTOR. Clearly, fact-checkers will have to work double overtime in the months ahead to counter the Obama distortion machine
A couple of points. If you are going to lie (Axelrod), you need to at least have a credible lie. Everyone knows the jobs in the energy sector are good paying jobs. At the same time, Obama wants to take credit for new jobs (including Texas), so when his people make comments like this, they are hurting themselves. It’s going to be a dirty campaign full of lies and distortions primarily coming from the left.
Is there a Democrat that Understands at least a little bit of Economics?
Secretary of Agriculture Tom Vilsack told MSNBC’s Morning Joe that THE OBAMA ADMINISTRATION HAS A JOBS PROGRAM ALREADY IN PLACE — AND IT’S FOOD STAMPS. When asked about new numbers that show one in every seven Americans now receiving food stamps from the federal government, Vilsack said that’s good news. Food stamps create jobs, Vilsack insisted, and managed to even come up with a new multiplier effect number:
So here’s the question. If food stamps create jobs, like Vilsack says here, and we’re putting record numbers of Americans on food stamps, then why aren’t we seeing record job creation? IF EVERY DOLLAR SPENT ON FOOD STAMPS CREATES $1.84 IN PRODUCTION, AS VILSACK ARGUES, AND THE NUMBER OF FOOD STAMP RECIPIENTS KEEPS RISING, THEN WHY HAVEN’T THE GDP NUMBERS REFLECTED THAT FABULOUS GROWTH?...
The left seems to lack a basic understanding of economics. While food stamps might prevent some job losses, it certainly doesn’t create any new jobs. And this is also true of unemployment insurance. The left says the money these people spend creates jobs. But they are spending less money than they did when they had jobs so the entire premise is nonsense.
New Low of 26% Approve of Obama on the Economy
A NEW LOW OF 26% OF AMERICANS APPROVE OF PRESIDENT BARACK OBAMA'S HANDLING OF THE ECONOMY, DOWN 11 PERCENTAGE POINTS SINCE GALLUP LAST MEASURED IT IN MID-MAY and well below his previous low of 35% in November 2010.
It sinking in to the American people and Obama’s poll ratings are also sinking. When you find yourself in this kind of a position, you look to build yourself up by trying to tear others down. Look to nasty and mean politics from this President.
Debt: We aren’t the worst offender
We here in the United States have spent a lot of time lately fretting about our national debt. But while we owe plenty of money, WE MAY NOT BE IN NEARLY AS BAD OF SHAPE AS SOME OF OUR PEERS.
When gross public debt is considered as a percentage of a nation’s gross domestic product, it turns out Japan takes the NO. 1 SPOT. JAPAN'S DEBT IS MORE THAN DOUBLE ITS ANNUAL GROSS DOMESTIC PRODUCT, ACCORDING TO MANY ESTIMATES.
By contrast the United States’ gross national debt is closer to 100 percent of gross domestic product, according to estimates from the International Monetary Fund and the Organization for Economic Co-operation and Development.
That still puts the U.S. in better shape than other industrialized nations including Greece, Italy and Ireland, according to the OECD estimates. Of course, those are among the European countries whose high debt levels have raised concerns in recent months.
Here are the 10 developed countries with the most gross debt, compared to GDP, based on the OECD's projections for 2011:
Japan - 213 percent of GDP
Greece - 157 percent
Italy - 129 percent
Iceland - 121 percent
Ireland - 120 percent
Portugal - 111 percent
United States - 101 percent
Belgium - 101 percent
France - 97 percent
United Kingdom - 89 percent
What’s interesting is Japan was this all powerful tiger in the 1980s when it ran into a real estate bubble (at one time the city of Tokyo had a greater value than all of the United States). Japan spent the 90s trying to recover when the bubble popped and pumped money into the economy (sound familiar?) to try to increase growth and soften the blow of the recession. The 1990s is known as the lost decade as it didn’t work.