I await the democratic rebuttal. It will probably include some inane reference to George Bush...
After two years of Obama ... here's your change!
Avg.. Retail price/gallon gas in U.S.
Crude oil, European Brent (barrel)
Crude oil, West TX Inter. (barrel)
Gold: London (per troy oz.)
Corn, No.2 yellow, Central IL
Soybeans, No. 1 yellow, IL
Sugar, cane, raw, world, lb. Fob
Unemployment rate, non-farm, overall
Unemployment rate, blacks
Number of unemployed
Number of fed. Employees, ex. Military (curr = 12/10 prelim)
Real median household income (2008 v 2009)
Number of food stamp recipients (curr = 10/10)
Number of unemployment benefit recipients (curr = 12/10)
Number of long-term unemployed
Poverty rate, individuals (2008 v 2009)
People in poverty in U.S. (2008 v 2009)
U.S.. Rank in Economic Freedom World Rankings
Present Situation Index (curr = 12/10)
Failed banks (curr = 2010 + 2011 to date)
U.S.. Dollar versus Japanese yen exchange rate
U.S.. Money supply, M1, in billions (curr = 12/10 prelim)
U.S.. Money supply, M2, in billions (curr = 12/10 prelim)
National debt, in trillions
Just take this last item: In the last two years we have accumulated national debt at a rate more than 27 times as fast as during the rest of our entire nation's history. Over 27 times as fast. Metaphorically speaking, if you are driving in the right lane doing 65 MPH and a car rockets past you in the left lane. 27 times faster, it would be doing 1755 MPH!
(1) U.S. Energy Information Administration; (2) Wall Street Journal; (3) Bureau of Labor Statistics; (4) Census Bureau; (5) USDA; (6) U.S. Dept. Of Labor; (7) FHFA; (8) Standard & Poor's/Case-Shiller; (9) RealtyTrac; (10) Heritage Foundation and WSJ; (11) The Conference Board; (12) FDIC; (13) Federal Reserve; (14) U.S. Treasury
Wednesday, March 30, 2011
So the Liberal domestic agenda has been to ineffectively overspend us into mediocrity. Now let's look at foreign policy.
Here we have an administration swerving all over the place, with reckless abandon and really no strategy.
But the one thing the Libs can count on is his purity. He would never be subversive! He knows America must mind its place and apologize for all its past wrongs...right?
WASHINGTON (Reuters) - President Barack Obama has signed a secret order authorizing covert U.S. government support for rebel forces seeking to oust Libyan leader Muammar Gaddafi, government officials told Reuters on Wednesday.
Monday, March 28, 2011
My retort, of course, is that such spending cuts are untenable to the American people, who widely favor Social Security, Medicare and Medicaid. Those three programs – along with Defense and Interest comprise roughly 70% of federal spending and 100% of revenues. As a matter of fact, non-Defense discretionary spending is at the lowest level since the early 1960’s as a percentage of GDP. There is not public support for the kind of spending cuts that would come anywhere near to balancing the budget.
I will use basketball – the NBA – to make my point. Jimmy is very familiar with the subject and enjoys season tickets where you can nearly touch the court. Jim’s theoretical team is losing badly – scoring only 80 points per game while giving up 120. I keep saying that they need to improve on both sides of the ball. They need to score more and improve their defense. He stubbornly replies that they merely need to hold opposing teams to less than 80 PPG and they will win.
I say, “Gosh, Doc, if you look at the history of the sport – at least the last sixty years - you won’t find a winning team that only averages 80 PPG. If you want to win, you need to get your scoring over 100 and keep your opponents under 100.” He answers, “Where is it written that teams have to score over 80 to win? It’s all about defense. Our offensive play is just fine!”
And so it goes…
Terry, although apparently you defer your "thinking" to Baxter, a scary thought is that, how about you "think" for yourself just a little. Those corporations, who just do things to make a profit, think they might look for countries with lower tax rates to make their profits?
As Brad Williams walked the halls of the California state capitol in Sacramento on a recent afternoon, he spotted a small crowd of protesters battling state spending cuts. They wore shiny white buttons that said "We Love Jobs!" and argued that looming budget reductions will hurt the Golden State's working class. Mr. Williams shook his head. "They're missing the real problem," he said.
The working class may be taking a beating from spending cuts used to close a cavernous deficit, Mr. Williams said, but the root of California's woes is its reliance on taxing the wealthy.
Nearly half of California's income taxes before the recession came from the top 1% of earners: households that took in more than $490,000 a year. High earners, it turns out, have especially volatile incomes—their earnings fell by more than twice as much as the rest of the population's during the recession. When they crashed, they took California's finances down with them.
Mr. Williams, a former economic forecaster for the state, spent more than a decade warning state leaders about California's over-dependence on the rich. "We created a revenue cliff," he said. "We built a large part of our government on the state's most unstable income group."
New York, New Jersey, Connecticut and Illinois—states that are the most heavily reliant on the taxes of the wealthy—are now among those with the biggest budget holes. A large population of rich residents was a blessing during the boom, showering states with billions in tax revenue. But it became a curse as their incomes collapsed with financial markets.
Arriving at a time of greatly increased public spending, this reversal highlights the dependence of the states on the outsize incomes of the wealthy. The result for state finances and budgets has been extreme volatility.
In New York before the recession, the top 1% of earners, who made more than $580,000 a year, paid 41% of the state's income taxes in 2007, up from 25% in 1994, according to state tax data. The top 1% of taxpayers paid 40% or more of state income taxes in New Jersey and Connecticut. In Illinois, which has a flat income-tax rate of 5%, the top 15% paid more than half the state's income taxes.
This growing dependence on wealthy taxpayers is being driven by soaring salaries at the top of the income ladder and by the nation's progressive income taxes, which levy the highest rates on the highest taxable incomes. The top federal income-tax rate has fallen dramatically over the past century, from more than 90% during World War II to 35% today. But the top tax rate—which applies to joint filers reporting $379,000 in taxable income—is still twice as high as the rate for joint filers reporting income of $69,000 or less.
The future of federal income taxes on the wealthy remains in flux. The top tax rate is 35%, following the Congressional tax battle last year. But in 2013, the rate is scheduled to go back to 39.6% unless Congress takes further action.
Sunday, March 27, 2011
Friday, March 25, 2011
I forgot which lunkhead attacked me with that is not true terry, do you just make this stuff up? I am an accountent and I KNOW.
Well now the truth! Ge has 975 employees in their Tax department. What are they doing making sure they pay their fair share? Oh oh No.
They paid ZERO taxes on 14.2 Billion. I guess I am not such an idiot afterall. What say you?
Let me repeat they paid ZERO. What a system. While the now unemployed drywaller, pays his taxes every year, and the Big Boys keep on taking and crying for more tax breaks. SHUT-UP
Wednesday, March 23, 2011
CHRISTIE: How I expect you to live, Penny, is you're gonna have to pick a different health plan that's not nearly as rich as the one you're getting now. That's how.
PENNY: Either that or you're force us to not have any health care.
CHRISTIE: No, I'm not gonna force you to not have any health care. I don't think that means forcing you to go without health care. But what it means is we can no longer afford to pay 90 plus percent of the cost of your health care. Public workers are getting their health insurance paid for out of your property taxes, and state workers are getting their health insurance paid for out of your income taxes. If I'm $67 billion in debt and you don't want me to take any more money out of your paycheck, how am I supposed to pay for it? Am I supposed to just raise taxes? Because if I raise taxes you're gonna pay more taxes, and if your property taxes go up, you're going to pay more taxes. I mean the money's gotta come from somewhere. We can't print it.
Penny, the top 1% of taxpayers in this state pay 41% of the total income tax. So to say that the rich don't pay is just not true. How much do you want them to pay? There comes a point where you cannot have everything that you want. And as much as I would like to be able to say to you, "You know what, Penny, you're right, I don't want you to have to pay another nickel for your health insurance," I can't pay for it, and we already have the highest taxes in America. I gotta tell you the truth, your neighbor who works in the private sector pays a heck of a lot more for his or her health insurance than you do. And on the top of it they're paying the taxes to pay for your health insurance. And so I've got a problem to fix here. We're broke and I gotta fix this problem.
Monday, March 21, 2011
Lots of criticism for President resolve, was stubborn and not smart enough. Mr. Baxter frequently...bitched about N. Korea, how President resolve did not have the "right" plan and now we were all messed up.
OK, but President Bracket, he led, for once, but without thinking and proclaimed that "Gadafy must go", or something like that, (now before you go into hyper denial mode, he said that last week, said that we needed regime change), but because he spoke before he thought (and spoke with Hilary), he did not realize that the "community" of nations would not back regime change, they just wanted to prevent an atrocity.
OK, so it is a good thing to prevent an atrocity, in Libya (but apparently not in Iraq), but...now we are nation building and taking military action and....we need to talk about this...so let's talk and get authorization, so we go to...THE UN! See we always said you Libs wanted to turn our government over to the Trilateral commission! Just joking, but actually not because an underpinning of this is that the left wants a weakened America (heck even Time says we are in decline).
Shouldn't President Bracket have thought through the "Gadafy must go" BEFORE he said it and locked himself into a corner and shouldn't President Golf have at least asked the Congress for authority while he asked the UN?
What a dip.
Saturday, March 19, 2011
And so as Moammar Gadhafi has visited a bloodbath on opposition forces, the White House has for weeks spun its wheels at the United Nations, waiting for someone else to go first. The White House has argued intervention might provoke an Arab backlash against the U.S., and it could be it actually believes such crazy talk. Yet it seems equally concerned that any U.S.-led military action in Libya—no matter how minor—will invite comparisons to the dreaded Bush warmongers and prove unpopular. And as Congress lurches from one budget crisis to the next, President Obama leaves negotiations to Vice President Joe Biden. It has been clear for weeks the only way this gets settled is for Mr. Obama and House Speaker John Boehner to find a fiscal 2011 spending-cut number that gets bipartisan support. But Mr. Obama worries that number will be too much for the left, and not enough for the right, and that means . . . controversy.
Today he instead leaves for a five-day Latin American tour. On that trip he will not be visiting Colombia or Panama, whose trade deals he's squelched since he took office. Trade deals, after all, don't always sit well with the public (and rarely with unions).
It took until yesterday for Mr. Obama to address Japan's nuclear problem, and only then to clarify that Americans should and should not be worried about radiation, while also knowing that U.S. power plants are and aren't safe. The president had been touting a new love for nuclear energy (to coax Republicans into a "clean-energy" deal), but the White House is now worried Japan is the hydrogen version of the BP oil spill, and thinking the safest short-term policy is incoherence. Entitlement reform? Are you people nuts? Who ever won an election on entitlement reform?
The White House's greater interest right now seems to be throwing little bones to its left. A quip here about the Wisconsin labor dispute, a gun-control op-ed there. A promise to quit defending the Defense Against Marriage Act. Yet even these are tiny bones, designed not to hugely upset the broader public.
Wednesday, March 16, 2011
Respondents were also asked where they get their news from: Fox News, MSNBC, CNN, newspapers, network TV news, public broadcasting.
The survey found that "substantial levels of misinformation were present in the daily consumers of all news sources." But Fox News viewers were significantly more likely to be misinformed than those who get their news from other sources. And, greater exposure to Fox News increased the degree to which viewers were misinformed.
This is not simply a matter of partisan bias. People who vote Democratic and watched Fox News were also more likely to be misinformed than those who did not watch it – though by a lesser margin than those who vote Republican. Those who got their news from NPR, CNN, or MSNBC were better informed on most – but not all – of the issues in the survey.
We've presented the 11 questions just as the survey asked them. How well informed are you?
Those stunts, as well as the prank call to Republican Gov. Scott Walker of Wisconsin that was captured on tape last month, proved to be sources of personal or institutional embarrassment. Historians warned yesterday that the latest caper may inspire a sense of national shame.
Origins of a hoax
Carney said the scam entailed pulling together demographic, social, cultural and policy characteristics to create the most exaggerated Democratic candidate possible without stepping over the line into caricature.
"By combining empty, touchy-feely slogans like 'hope' and 'change' with far-left-wing policy planks and presenting them in the person of a racial minority from a major Midwest city with an Ivy League background, we thought we might be able to make a good showing in Iowa and New Hampshire, maybe even capture the Democratic nomination," Carney told reporters. "But the entire country? No. We never, ever for even a second imagined the American people would elect someone who had served only half a term in the U.S. Senate to be the leader of the entire free world."
Obama won the presidency with 52.9 percent of the popular vote, defeating Republican nominee John McCain, who received 45.7 percent. "All you guys in the press were so giddy about it," Carney continued, "we couldn't really just announce that the whole thing was a big fat joke, you know? I mean, how would that look?"
Contacted by phone, O'Keefe said he, too, was surprised the hoax had lasted as long as it did.
"I thought people would catch on in the early days, like with the clinging-to-guns stuff," said O'Keefe, referring to an incident at a San Francisco fundraiser in which candidate Obama said small-town Americans "cling to guns or religion or antipathy to people who aren't like them."
O'Keefe said he also expected the ruse would be unmasked when Obama said that "under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket," and again when Obama claimed, "I've now been in 57 (U.S.) states," with "one left to go."
"We modeled the 57-states gaffe on Dan Quayle's 'potatoe' mistake," said O'Keefe, referring to a 1992 incident at a Trenton, N.J., elementary school in which then-Vice President Dan Quayle added an "e" to "potato." "We figured Obama would become a national laughingstock like Quayle, (but we) underestimated the tendency of the press and the public to forgive mistakes by people they like."
Victims of the fabrication stretch around the globe. "President" Obama has held numerous meetings with foreign heads of state, among them Chinese President Hu Jintao, leaders of NATO and the G8, Indian Prime Minister Manmohan Singh and Afghan President Hamid Karzai.
The Norwegian Nobel Committee also was taken in, awarding Obama the Nobel Peace Prize in October 2009 — only months after he had taken office and just weeks before he announced an escalation of the war in Afghanistan.
Reaction from abroad yesterday was swift.
"I'm not surprised," said German Chancellor Angela Merkel. "Well, that explains everything, doesn't it?" said British Prime Minister David Cameron. "I mean, really now."
A prank gone too far
As the 2008 campaign wore on, O'Keefe said, insiders grew worried Obama might actually win. They began dropping hints that the candidate was just a parody. They had him complain about the price of arugula to Iowa farmers. When that didn't work, Obama went bowling, scored a 37, and then joked that the almost impossibly poor performance "was like the Special Olympics or something." "A few right-wing bloggers made a big deal out of it," O'Keefe said. "Nobody else seemed to notice."
The hint-dropping campaign intensified after Obama took office. Justin Whittemore, a former White House staffer who was part of the elaborate plot, said advisers began copying policy positions straight from The New York Times and the liberal Center for American Progress in an increasingly transparent attempt to provoke suspicion.
"We've tried everything," O'Keefe said. "Nationalizing health care, the stimulus, a $4 trillion budget, insane levels of debt, even high-speed rail. No matter how ridiculous a proposal we come up with, people take it seriously."
Asked why he is pulling the plug now, O'Keefe replied that the good of the country was at stake. "Things have gotten way out of hand," he said. "People are talking about a second term now. It's just gone way too far — even for me."
Tuesday, March 15, 2011
President Obama’s Trivial Pursuits
by KEITH KOFFLER on MARCH 15, 2011, 12:10 PM
The Middle East is afire with rebellion, Japan is imploding from an earthquake, and the battle of the budget is on in the United States, but none of this seems to be deterring President Obama from a heavy schedule of childish distractions.
The newly installed tandem of White House Chief of Staff William Daley and Senior Adviser David Plouffe were supposed to impart a new sense of discipline and purpose to the White House. Instead, they are permitting him to showcase himself as a poorly focused leader who has his priorities backward.
This morning, as Japan’s nuclear crisis enters a potentially catastrophic phase, we are told that Obama is videotaping his NCAA tournament picks and that we’ll be able to tune into ESPN Wednesday to find out who he likes.
Saturday, he made his 61st outing to the golf course as president, and got back to the White House with just enough time for a quick shower before heading out to party with Washington’s elite journalists at the annual Gridiron Dinner.
Obama Friday took time out to honor the 2009-10 Stanley Cup Champion Chicago Blackhawks. Thursday was a White House conference on bullying – not a bad idea perhaps, but not quite Leader of the Free World stuff either.
Obama appeared a little sleepy as he weighed in against the bullies, perhaps because he’d spent the night before partying with lawmakers as they took in a Chicago Bulls vs. Charlotte Bobcats game.
Meanwhile, the president has been studying for weeks whether to establish a No Fly Zone over Libya, delaying action while the point becomes increasingly moot as Qaddafi begins to defeat and slaughter his opponents. And lawmakers from both Parties are wondering why he seems to be AWOL in the deficit reduction debate.
The Libya indecision follows an inconsistent response to the protests that ousted former Egyptian President Mubarak and seemed to catch the White House off guard. The perfunctory response from the White House Monday to Saudi Arabia’s dispatch of troops to Bahrain suggested the administration wasn’t prepared for that one either.
But the fun stuff won’t end anytime soon. On Thursday, the Taoiseach of Ireland will be in town to help the president celebrate St. Patrick’s Day. And then Friday it’s off to Brazil for the start of a three-country Latin American tour.
Oddly, he’ll be missing Carnival, which went down last week.