What’s New Today
Story #1 tells us of the lies Obama is telling us regarding campaign financing. #2 looks at Obama’s lies regarding taxation. #3 is a lie from his staff regarding the solicitor general claiming he never called the mandate a tax. #4 gives you the 10 reasons the employment numbers are worse than you think. #5 gives us another sign that the economy is in the tank. #6 is one person opinion on what SCOTUS’s Obamacare decision actually means.
Jobs figures for June were a disappointing 80,000 jobs created. If you look at the three month rolling total, in February the three previous months had been 670,000 jobs. In March the number dropped to 570,000 jobs, in April it dropped to 424,000, in May it dropped to 266,000 and this month it dropped to 226,000. Obama called this month’s numbers a step in the right direction. I guess it depends on which way you are going.
Team Obama promised that unemployment today would be 5.6% if we passed the stimulus. If the labor participation rate had remained the same, unemployment today would be 10.9%.
When Nancy Pelosi said we need to pass Obamacare to see what is in it she was wrong. We still don’t know. So far we have 13,000 pages of regulations that have been written since the law passed.
"We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much.” Ronald Reagan
1. Lies My President told to Me
President Barack Obama on Thursday claimed he was outspent in his 2004 Senate election race, even though he had almost six times as much money as his opponent. Later in the day, Obama claimed “we were outspent” in the 2008 presidential race, despite out-raising all other candidates.
“I got outspent when I ran [the] first time for Senate,” he claimed as he was ending his heated campaign-trail speech in Maumee, Ohio.
Obama was misleading.
The Federal Election Committee’s website shows that Obama’s campaign claimed $14,807,432 in donations by December 2004.
In contrast, his opponent, Alan Keyes, had only $2,545,325, according to the FEC…
… In a second speech June 5, Obama compounded his misleading claim by declaring that he was outspent in the 2008 presidential race.
“The thing that I want everybody here to understand – each of you personally — is that back in 2008, everybody said we couldn’t do it because we were outspent,” he said during a 4.12 p.m. speech in Sandusky, Ohio.
Obama did not correct the claim, although he immediately revised it, by adding that “we weren’t favored.”
During the 2008 race, Obama raised $779 million. His GOP rival, Sen. John McCain, raised less than half as much, or $347 million….
Obama is certainly not very good with numbers. In fact this coming election he will get a idea of what it really means to be outspent.
2. More Lies
While we were all debating the cost to our liberty due to the Patient Protection and Affordable Care Act (Obamacare), we were ignoring the cost to our pockets. If there ever was a reason for bipartisan rage about this law, it should be on the twenty - yes, twenty - hidden new taxes of this law. Making matters even more relevant is that seven of these taxes are levied on all citizens regardless of income. Hence, Mr. Obama’s promise not to raise taxes on anyone earning less than $250,000 is just another falsehood associated with this legislation.The first, and best known, of these seven taxes that will hit all Americans as a result of Obamacare is the Individual Mandate Tax (no longer concealed as a penalty). This provision will require a couple to pay the higher of a base tax of $1,360 per year, or 2.5% of adjusted growth income starting with lower base tax and rising to this level by 2016. Individuals will see a base tax of $695 and families a base tax of $2,085 per year by 2016…
I think I’ll keep this going over time. Obama is quite adept at stating things that factually aren’t true.
3. Lies Obama’s campaign told
Obama campaign spokesman Ben LaBolt has claimed that Solicitor General Verrilli never argued that the individual mandate should be upheld under Congress’s taxing authority. He’s lying.
If you are wondering why Obama keeps insisting that the mandate is not a tax even though if it weren’t SCOTUS would have struck down Obamacare, I see two reasons. First, it exposed Obama’s lie about taxes on people earning less than $250,000 per year. This tax will fall on ONLY people earning less than $250,000 per year—a lot less. And second, if it’s a tax the Republicans will be able to use reconciliation to repeal the law.
4. 10 Reasons the Unemployment is worse than June looks
1. Unemployment has topped 8% for 41 straight months. Last time above 8% - December 1983.
2. The jobless rate actually makes the labor market look better than it actually is. The rate only counts people who want a job but don't have one. But the labor force participation rate was 63.8% in June, just above near modern-era lows. (It was 66.2% in January 2008 and 67.3% in April 2000). Otherwise, unemployment would be around 11%.
3. The employment-to-population ratio for those aged 25-54 dipped to 75.6% in June, down sharply from 80% in January 2008. Many economists left and right view the core employment ratio as one of the cleanest views of the labor market, because it includes those who have stopped looking for work while excluding the bulge in retirees and young adults in school.
4. Chronic unemployment. The average length of unemployment rose to 39.9 weeks in June, close to recent peak. It was 17.4 weeks at the January 2008 peak and 23.9 weeks in June 2009, when the recession officially ended. Long-term joblessness is particularly bad because skills erode or become obsolete, leading to permanent losses in income…
Everyone is still stumbling around in the dark with this Administration’s schizophrenic economic policies.
5. Another sign the Economy is in the Tank
More workers joined the federal government's disability program in June than got new jobs, according to two new government reports, a clear indicator of how bleak the nation's jobs picture is after three full years of economic recovery.
The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration.
The disability ranks have outpaced job growth throughout President Obama's economic recovery. While the economy has created 2.6 million jobs since June 2009, fully 3.1 million workers signed up for disability benefits.
In other words, the number of new disability enrollees has climbed 19% faster than the number of new jobs created during the sluggish recovery.
And the disability ranks will continue to swell. In just the last month, almost 275,000 put in applications for disability benefits. Experts say that more people try to get on disability when jobs are scarce, and changes to eligibility rules enacted back in 1984 have made it far easier to qualify…
Now if I were a left wing blogger and this was bad news for a Republican President, I would probably project this out in the future to figure out when all Americans would be on disability.
6. Obamacare: The politics of its survival
….Politically Obamacare, as its critics call it, remains highly unpopular. It's possible that the court decision will boost its support, but unlikely.
Most voters want this law repealed. Mitt Romney and the Republicans want to repeal it. Barack Obama and the Democrats want to preserve it. It's not a winning issue for the incumbent.
Constitutionally, many conservatives are unhappy that Chief Justice Roberts and the four justices generally considered liberal voted to uphold the mandate to buy health insurance as a tax, which Congress is clearly empowered to levy.
But the fact remains that a majority of five justices, including Roberts, also declared that Congress' power to regulate commerce does not authorize a mandate to buy a commercial product. This will tend to bar further expansion of the size and scope of the federal government.
Moreover, the Constitution's limits on congressional power have now become, for the first time in seven decades, a political issue. They're likely to remain one for years to come.
This would not have been true had not the constitutional case against the mandate been advanced by Washington lawyer David Rivkin, Georgetown law professor Randy Barnett and many others.
They did not quite prevail in the Supreme Court, but they changed not only the legal but also the political debate in a way almost no one anticipated three years ago.
Unhappy conservatives grumble that Congress can get around the declaration that a mandate is beyond Congress's enumerated powers by labeling it a tax – or just by relying on five justices declaring it one.
But there's usually a political price to pay for increasing taxes. That's why Barack Obama swore up and down that the mandate was not a tax. It's why Democratic congressional leaders did not call it one.
Roberts' decision undercuts such arguments, now and in the future. Members of Congress supporting such legislation will be held responsible, this year and for years to come, for increasing taxes.
And the Constitution's provision that tax bills must be originated in the House of Representatives means that the party controlling the House can effectively block such measures. That will be an argument for Republican congressional candidates for the indefinite future….
I’m still in a wait and see mode on this. There isn’t anything we can do now, but regain the Presidency, the Senate and keep control of the House. With that combination and the mandate being a tax we can repeal the law.