It would not be inaccurate to say that President Obama’s crack team of economic advisers are, shall we say, less than bullish on America.
In early 2011, the President put together yet another in the seemingly inexhaustible supply of presidential advisory committees. This one was supposedly tasked with advising Obama on jobs and competitiveness.
Positions on the panel were filled with leaders of several large American companies.
But as Bloomberg reports, it might be wise to judge the members of the committee by their actions rather than their words:
Some experts might look at President Obama’s personal portfolio and say it reflects a distinct lack of confidence in the future. He’s heavy on short and intermediate Treasuries and has no 30-year bonds.
To repeat: We’re not saying he’s light on long term investments. We’re saying he has none. Zero. Zip.
CNS News took a look at the President’s latest financial disclosure forms and identified an investment philosophy that we find a bit troubling:
It hasn’t happened since the Great Depression, but we now find ourselves in a situation where the U.S. government is handing out more benefits to households than they are taking from them in taxes. If your first thought is that, of course, that’s because we aren’t taxing those damn rich people enough, please leave now, you’re causing a foul smell on my blog.
Elizabeth MacDonald of Fox News has penned a clear piece of work today that presents the big picture problem of just how far off-track our once proud capitalist America has gone.
In 2010, households were taxed $2.2 trillion, but raked in $2.3 trillion of goodies, from the usual big ticket programs like Social Security, Medicare and Medicaid, to one-time programs like stimulus spending, to supporting illegal aliens, to thousands of absurd giveaways you probably don’t even know about like millions of cell phones free from the government for the poor and illegal. An estimated 59% of the 308.7 million Americans get at least one federal benefit, according to the Census Bureau, based on 2009 data.
What’s really disturbing is that the handouts have been growing, and people are becoming more and more addicted to their programs. Get a load of this statistic: since 2007, 79% of household growth is attributed to government cash handouts. Just to be clear, yes, I am talking about the United States of America, not Europe who is now going in the other direction.
The question about whether or not President Obama was born in Hawaii is a heated debate. But it’s about to get a lot hotter with the arrival next month of a new book, “Where’s the Birth Certificate?: The Case that Barack Obama is not Eligible to be President.”
The book written by two-time #1 New York Times best-selling author Jerome Corsi, author of the Swift Boat book that helped sink John Kerry, reportedly does more than raise questions — actually lays out the evidence for Barack Obama’s ineligibility for the presidency.
I’ve been absent from posting the last few days because, among other things, I’ve been busy putting together my taxes, a completely unproductive task that takes many days to a week or two to complete each year. Imagine my joy yesterday as I was going through my records, cursing the government, when our Campaigner-in-Chief came on TV to tell us how we can Win the Future by raising taxes on “the rich.”
As usual, President Obama’s speech had little of substance, was full of contempt and surprise, surprise, class warfare. Obama, who’s always in campaign mode, was probably at his best in a long time because he’s found a fight he truly can sink his teeth into — taxation versus spending cuts — with the issue so clear, at the fortuitous time of the kickoff of his reelection drive.
I tried to post something after watching it, but I filled with so much hate (yes, that is the proper word) for this man that could not get the right words out. Later on, I tuned into watched my favorite segment of the day on cable news, Bret Baier’s Special Report’ All Star Panel. In particular, I tune in for Charles Krauthammer. Once again, he didn’t disappoint. In describing Obama’s deficit speech, Krauthammer took the words out of my mouth, but so much more eloquently:
Our Ridiculer-in-Chief yesterday laughed at the price of gas we in this country is facing. He said if you’re just getting eight miles per gallon you better get a trade-in. When someone said he had ten kids, he laughed (again) and said he needs to get a hybrid van. More laughter. Yes, he was just having a good ‘ol time up on that stage, after running away from the budget negotiations in Washington.
This insensitive prick doesn’t care that gas prices are hurting people. Even people that get 20 miles per gallon are hurt — high gas prices hurt everyone. And how many people do you know get 8 miles per gallon anyway? This manchild of a president without an energy policy doesn’t give a crap about your problems.
Whether or not you believe he is doing everything he can to stem rising gas prices or not, that’s not the issue in this post. The issue is the guy just can’t even pretend he cares. The president should not be chuckling at our hardship.
Oops, sorry. I forgot. He does have an energy plan, one he articulated during the campaign:
Of course we now know that we’ve been leaderless since January 20, 2009. But our MIA president insists on continuing to remind us. A couple weeks ago, he left congress a note that he’d started a war kinetic military action and left for Rio. And today we find ourselves on the verge of a government shutdown, and he’s off to two unessential campaign stops speaking engagements. The Washington Post has the story:
A fiery President Obama insisted Tuesday that if he and congressional leaders couldn’t reach a deal to avert a government shutdown, “I want a meeting again tomorrow here at the White House.”
“I will invite the same folks that we invited today,” he added. “And if that doesn’t work, we’ll invite them again the day after that. And I will have my entire team available to work through the details of getting a deal done.”
Obama’s team may not include the president himself. Despite the impasse in Washington over federal spending, the president as of early Wednesday was scheduled to give two speeches outside of Washington: one on energy in the Philadelphia suburbs, then another Wednesday evening to a group of black political activists in New York.
Paul Ryan said it best: ““We don’t need a good politician. We need a strong leader.” Here he is, one of the only leaders in Washington:
Ron Paul says that declaring and acting upon a No Fly Zone is an “act of war” and as such he has not consulted with congress, as the Constitution calls for. Even worse, while ignoring our own congress (and in fact leaving town), he gave deference to the United Nations, and there is nothing in our constitution about getting approval from foreign bodies in order to go to war. Obama has used a U.N. Security Council resolution to legitimize U.S. bombing raids under international law. But the U.N. Charter is not a substitute for the U.S. Constitution. And the Constitution gives Congress, not the president, the power “to declare war.”
There’s renewed interest in President Obama’s birth certificate since potential presidential nominee Donald Trump has been asking Obama to just show the piece of paper and put an end to the speculation. Most recently, Obama drove the women of The View apoplectic with his assertion, as seen in the video below.
How can one man screw up so many things in two years? The question going on is, can someone really be as inept as Barack Obama, or is he on a mission to destroy America? The answer seems to be both.
And how is he doing in Libya? Let’s review where we are at:
If we were going to act in Libya, the time to act in Libya would have been two weeks ago. Since then, Gadaffi has killed likely tens of thousands, displaced more, and hidden many of his weapons. A coalition is great news, but not at the expense of the mission.
The Arab League said, sure U.S.A. and allies, go get him, invoke the no-fly zone. And, as usual, we are not asking the oil rich states to pay for any of it. Nah, it’s on us, we’ve got plenty of money! Oh, by the way, now The Arab League is upset with us going in too strong.
At first, boy-President Obama summoned up the courage to tell Gaddafi to leave the country. But now, maybe it’s okay if the Michael Jackson look-alike stays in power as long as he abides by a cease fire.
The French are leading the way. The French! If we’re going to do it, let’s do it right and as the world’s #1 superpower, let’s lead.
There is no identified mission in Libya, there is no plan for the Middle East, and Obama cannot even identify the overall problem in the area: islamic fundamentalism.
And what’s our Spectator-in-Chief doing while Libya burns, the Middle East turmoil spreads, Japan glows after drowning after shaking, the budget battle rages and the economy heads for a double dip? After a week of fundraisers, parties, golfing, appearing on ESPN with his basketball picks, he and a few hundred others are headed off to Rio for a family vacation.
And by the way, maybe this is a dumb question, but why are we always saving Islamists?
The Congressional Budget Office (CBO) yesterday found our fiscal red ink worse than expected. It turns out amount of debt President Obama’s budget will create in the coming decade will be $2.7 trillion more than expected.
“For the 10-year projection period as a whole, the deficit that would result under the President’s proposals – $9.5 trillion, or 4.8 percent of GDP – would be $2.7 trillion greater than the cumulative deficit projected under current law,” CBO’s report explained.
In concrete terms, that means today’s public debt of $14.2 trillion will balloon to $23.7 trillion by the year 2021. For each American who pays taxes, that represents a $260,000 liability. The jumbo-sized deficits have a real impact on taxpayers who will end up spending more of their money on interest. That’s the case under Mr. Obama’s budget, where interest payments nearly quadruple from $260 billion to $931 billion a year in 2021. That means 3.9 percent of the nation’s entire productive output will be devoted not to funding present government operations, but to covering the excess spending of an administration long past.
Everyone knows President Obama isn’t serious about cutting spending, right? Disappointingly, no. I thought that most people could see through his bullshit, but a survey I saw reported on the news today concluded that 52% of respondents believe he is in fact serious, and get this: only 44% of respondents believe the Republicans are serious about it. There’s a huge disconnect from reality in those numbers. But at least Ron Paul knows how serious Obama is.
Hello Iranian nukes. Goodbye Israel. Goodbye chance of freedom in Middle East. Hello $300 oil. Hello worldwide economic collapse. Hello WWWIII. Thank you Mr. Obama.
During the four days between Thursday March 4 and Monday March 7, the Obama administration switched its Iran policy. As rocketing oil prices triggered by the Arab Revolt wiped out the damage caused the Iranian economy by sanctions, Washington confirmed the worst Saudi and Israeli suspicions that America had no intention of acting to stop the Islamic Republic attaining nuclear weapons, although it held Israel back from doing so when it was more feasible.
President Barack Obama’s proposed budget for 2012 outlines $3.7 trillion in spending during the next fiscal year and $8 trillion in new debt over the next decade. All without even a notion of how to pay for any of it. We’re sunk.
worn: No Lauren, it is you who sounds uninformed. After reading your reply, I am wondering if you are aware that the worst natural disaster in U.S. history was the Galveston hurricane of 1900. Yes, that’s the hurricane in which 6,000-12,000 people died due to a storm surge on the Texas...
Gabriel Alespeiti: I think # 1 should be United States foreign aid to certain countries. According to Wikipedia the aid received per person recipient FY 2011 in Israel was a paycheck of $404.97. Totaling 3,026,000,000 a year. Second only to Afganistan because of war expenses. So it is right that...
r4444b: Add to NIH’s “grants” ….1/2 million to study why men don’t lke to wear condoms (I’m a woman and I can tell you for free)….1 million to study why chinese prostitutes like to “drink” while they are “working.̶ 1; Another million...
Blessed41: Rostislav, if you are calling the HOLY BIBLE a pile of crap, you are crap yourself. Shame on you! and you made satan happy by talking against the word of GOD, where is your FAITH? Romancaesar is right, YOU atheist scum!! HAHAHAHAHAHAHAHAHAHA HAHAHA LOLLOLLOLLOLLOL
tomdawg: Don’t worry about the wondering animals with no home…they will be eaten by hungry humans with guns soon after the collapse.
Guffer1984: It does not matter who sits in the White House. GWB was no better and in many cases worse. This nation is travelling down the road of all nations which is ultimite demise. Unfortunately it is human nature. However, we Americans believe that we can legislate perfection so we pass...
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anono: Try sticking to the focus of the article. You’re all over the place – and you need to learn how to spell. Please realize that throwing a bunch of overwrought jargon around (malthusian this, idealogue that) doesn’t suffice to make you sound intelligent; neither does...
James: After a seriously obese person has had fat removal procedures, his/her flesh sags where excess fat used to be. World population should never have risen this high. It will be reduced. Through lower birth rates; or by more traditional means: war, disease, famine, cannabalism. I’m not a...
Lakeisha: Thanky Thanky for all this good imnforation!
Lisa D: Hi Don, Yes, very interested. email me at Ldav4@aol.com
Donald: Lisa – see my comment from March. I have been working on telling the story but have hit a few road blocks. I would be very interested in speaking to you. My bank was shut down under very unusual and suspicious surcumstances – a very interesting story and situation. Let me know...
Lisa Davidson: If any bank president or bank management is willing to talk about what happened to their community bank (i.e. FDIC forcing them out of business) – anyone who CAN talk about this – making a documentary and have reputable news outlets interested. This story needs to get...
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Kim: Marcy, Rep. Alan Grayson said in the attached youtube video in 2010 that Fannie Mae and Freddie Mac both own stock in MERS. How much stock and when did they own it? Would this explain their current actions? Did they move loans out of MERS and into Fannie Mae for the tax payers to bail out?...
bon: How silly you folks do not realize that it’s the “in thing” to hate Americans now. I’m poor. I’m poor because of greed and graft in light of my honesty in addition to self-serving and selfish Americans who continue to deplete their brains of the genuine cause of...
ru4real: The new deal also created FDIC insurance. Im sure you would like to go back to the days when your bank money wasnt guaranteed. Before the New Deal, some churches offered assistance, but most offered VERY little assistance. Even today, many churches cannot offer assistance unless they...
LibrlRevolution: I think everyone is ignoring the fact that it is not, and should not be the government’s responsibility to take care of people. That is what family, charities, and churches are for. Before the fascist takeover of the US via the “New Deal” and the “Great...
R. Arthur Beckles: Barack Obama is President of all Americans, not just of African-Americans! It’s difficult for all working class Americans – black, white, brown, etc. African-Americans who don’t want to vote for Obama, can feel free to do so. But do they think that their lot...
EriktheRed: I like how it’s “fortunate that the crisis is confined to the E.U.”- what’s unemployment in the U.S. right now? How about the millions of foreclosures you’ve had already? Tent cities, anyone? Deficit spending at $3.5 bn a DAY? HMM!
David, Self Defense Retailer: Really? Why in the world are they doing that for Gitmo detainees? A whole soccer field? Outrageous! Maybe the EU really won’t last.
David, Stun Gun Supplier: It’s the next bubble. I wonder what Romney has to say about this. Obama’s made himself clear in his typical way. It’ll probably be worse than housing when it does.
See I told you: Who didn’t see this coming . Put a communist organizer in the White house and just wait. To bad the American populace lacks true intellect or is it just that the dummies out number the smart 20 to 1. Probably the latter. Obvious who controlls the vote with those kind of...
JoAnn: I have a real problem with Obama borrowing money to send to Greece when so many people in this country who have lost long term jobs,lost homes,living on the street, little or no food. I vote to take Obama and his family if they want to go and DROP them on a desert island some where just so...
Arkansas Slim: Update. Oil hit 105 per barrel yesterday, 2 20 12. Gas US Avg => 3.50 per gallon. Cloward Piven Theory of Economics: Tipping point of US Electorate => 51%. Nevada odds for Obama RE Election 6/10 on thier sport boards. EU/Greece set to collapse, dominos arranged. Socialistic...
kkl: America is now turning mediocre no more fun no more trips or vacations 100 bucks to fill gas tank and pasta and ramen noodles for life for usa there is no more hope no more fun just work go home work go home fill up gas tank eat shit and work no more fun thanks for nothing nobama i hope you...
Chris Marshall: Hi Janice, I just wanted to know, how would you be able to get a good investment out of the Whole Life Insurance if it costs really high? The projections usually given out by “Financial Advisors” that 12% is the usual earnings specially if it is invested in TSX or NYX...
Agent: Walt Disney funded Disney World by using the cash value in his whole life policy. You can’t say that was a mistake. Buy term for a specific need/period and buy whole for a permanent need or if you need your life insurance past age 65.
Forex Agent: As a financial advisor what I tell clients is that the main purpose of a life insurance policy is to provide a death benefit. Whether term, some sort of permanent life insurance, or a combination of the two is most appropriate depends on a number of factors including the...
Cindy: Before long they will, if not already, invade and keep track of everything you do including the privacy of your own home exploiting you and demanding that you worship them. You will be powerless to control it so you will have two choices…… ;kiss butt or commit suicide.
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Matt USA: I know I’m a little late to this discussion, but I think that the economic collapse scenario has changed somewhat in recent weeks. It appears that Europe will go first, followed by the United States who has gambled and lost on a TARP style European bailout. The real question for...
China: @Serban Enache , You Are Wrong We are In Lot Of Trouble and you Know This , Starting In 2012 We will have Many Many Different Problems , We The Government Is Paying For All This Building , We Know Our Own Citizens Can’t Afford This Type Of Live Style , but we are building it Any way...
Rider I: How the US has historically used mineral rushes to get it out of Deficits and stop foreign economic take over. In the US’s historical past the Druids have used and impressed upon the US leadership to use mineral resources to stop economic warfare, along with military take over....