Obama Tells Another ‘Whopper’ — He Did Not Create 12.8 Million Jobs

Posted on July 9th, 2015

Obama Speaking of Jobs CreatedBy David Stockman

America is better off when President Barack Obama is out on the stump bloviating and boasting rather than in Washington actively doing harm.

But the whoppers he just told the students at the University of Wisconsin are beyond the pale.

Said our spinmeister-in-chief:

And the unemployment rate is now down to 5.3 percent. (Applause.) Keep in mind, when I came into office it was hovering around 10 percent. All told, we’ve now seen 64 straight months of private sector job growth, which is a new record — (applause) — new record — 12.8 million new jobs all told.

We are now 29 quarters from the pre-crisis peak and total non-farm labor hours utilized by the U.S. economy are no higher than they were in Q4 2007.

In other words, if you use a common unit of measure — labor hours rather than job slots which treat coal-miners and part-time pizza delivery boys alike — there have been no new units of employment at all. Read More..

It’s the Obama Record That O’Malley and Sanders Are Bashing!

Posted on July 2nd, 2015

Better off food stampsBy Silvio Canto, Jr.

Governor O’Malley made it official.  He is in and running for us, as he told the crowd:

Our economic and political system is upside down and backward and it is time to turn it around[.]

Senator Sanders said something similar a few days ago.

Who’s been in the White House for seven years?  Whose stimulus didn’t stimulate?  Whose “shovel ready” jobs weren’t ready after all?  Who promised so much and didn’t deliver? Read More..

Weaken America’s Middle Class? Obama’s Asian Trade Deal Sells Out American Workers

Posted on June 12th, 2015

Trans Pacific Partnership American workersBy Peter Morici

Congress should not grant President Barack Obama authority to conclude another free trade agreement in Asia, because it would lower American wages and exacerbate income inequality.

The Trans-Pacific Partnership (TPP) would eliminate tariffs and lower other regulatory barriers to trade and investment among the United States, South Korea, Japan and nine other Pacific Rim nations.

If successful, China, India and several other nations could seek membership. Hence, the TPP has the potential to redefine the rules for international commerce in the most rapidly growing region of the international economy, but President Obama has given ordinary workers good reason to believe he is not looking out for them.

In March 2012, President Obama inaugurated a free trade pact with South Korea and in many ways, it provides a template for what we may expect from a broader TPP.

Imports from South Korea are up 3.6 billion, U.S. exports are down marginally and the U.S. trade deficit with the Asian nation has swelled to 5 billion. That free trade deal alone has killed about 25,000 American jobs — mostly in high paying manufacturing activities — and added to downward pressures on wages and worsened income inequality.
Read More..

We Have A Suicide Bomber in the White House

Posted on June 8th, 2015

Bad signs unemployment and food stamps by Eric Allie, Caglecartoons.comBy Wayne Allyn Root

I told you so. Forget ISIS. Forget Al Queda. Forget Putin. Forget China. The worst threat to America is Barack Hussein Obama.

I’ve screamed from the highest mountains for almost seven long years now that we have a suicide bomber in the White House. Obama is dive-bombing our nation’s economy the same way that the Germanwings Airline co-pilot Andreas Lubitz crashed his plane into the ground in France two months ago.

Except this isn’t one plane and a couple hundred souls. Obama is taking the entire American economy and all of us down with him. Read More..

US Has Gone From Assisting the Unemployed to Paying for Unemployment

Posted on June 4th, 2015

Part-time jobs unemployment by Nate Beeler, The Columbus DispatchBy Peter Morici

Scores of prime working age men displaced by construction and manufacturing meltdowns during the Great Recession have left the labor force permanently. Some 7 million men between the ages of 25 and 54 are neither working nor looking for work.

Now, free and subsidized healthcare, food stamps, Social Security disability benefits, and the earned income tax credit for couples with one working spouse are all more easily available but phase down as household incomes rise. That greatly raises the opportunity cost of taking a job for many men.

Simply, we have gone from assisting the unemployed to paying for unemployment. Read More..

A Recession Within A Recession

Posted on June 1st, 2015

Recession PublicBy Michael Snyder

On Friday, the federal government announced that the U.S. economy contracted at a 0.7 percent annual rate during the first quarter of 2015.  This unexpected shrinking of the economy is being primarily blamed on “harsh” weather during the first three months of this year and on the strengthening of the U.S. dollar.  Most economists are confident that U.S. GDP will rebound back into positive territory when the numbers for the second quarter come out, but if that does not happen we will officially meet the government’s criteria for being in another “recession”.  To make sure that the numbers for Q2 will look “acceptable”, the Bureau of Economic Analysis is about to change the way that it calculates GDP again.  They are just going to keep “seasonally adjusting” the numbers until they get what they want.  At this point, the government numbers are so full of “assumptions” and “estimates” that they don’t really bear much resemblance to reality anyway.

In fact, John Williams of shadowstats.com has calculated that if the government was actually using honest numbers that they would show that we have continually been in a recession since 2005.  That is why I am referring to this as a “recession within a recession”.  Most people can look around and see that economic conditions for most Americans are not good, and now they are about to get even worse. Read More..

Obama’s Economic Disaster

Posted on May 29th, 2015

President Obama LaughingBy Alan Caruba

Commenting on the rioting in Baltimore, the Wall Street Journal’s Daniel Henniger was almost to the end of his text when he said “On Wednesday morning, the year’s first-quarter GDP growth rate came in—0.02%. Next to nothing. For the length of the Obama presidency, with growth significantly below norm, unemployment for blacks aged 24 and younger has hovered between 30% and 40%. That’s the real powder key, not the police.”

Most Americans do not put the state of the economy at the heart of everything else is occurring. Instead they listen to politicians apply the blame to everything other than themselves. President Obama spent his entire first term blaming George W. Bush for the bad state of the economy he inherited, but instead of addressing it, he increased it by imposing ObamaCare, radically altering how many would be hired while others were cut to a part-time status. The bill added a number of taxes as well. Read More..

Observations on Government

Posted on May 28th, 2015

I'm from The Government, I'm Here to HelpBy Monty Pelerin

Government is often not what it seems. These observations on government provide a less flattering, but more realistic, view of government than its supporters prefer.

Observations on Government

Prosperity: Government cannot create prosperity, but it can destroy it.

Keynesianism: A false body of economic thought that government supports. It is the source of government power and growth. It is the source of economists’ income and prestige. It is the very foundation supporting the myth of government. Regardless of how much economic harm is inflicted by its application, it always grows government. Read More..

More Obama Destruction: White House Wants to Offer Credit to Deadbeats and Illegal Immigrants

Posted on May 21st, 2015

WAIMH Red ArrowBy Investor’s Business Daily

As part of its amnesty program, the Obama regime seeks to expand credit to a whopping 45 million potential deadbeats — including illegal immigrants — whose credit files are too spotty even to score for risk.

In a just-released federal report, the administration portrays these “credit invisibles” as victims of a traditional credit-scoring system. And since most are minorities, it claims that excluding them from the financial mainstream is discriminatory.

“These results suggest that the problems that accompany having a limited credit history are disproportionately borne by blacks, Hispanics and lower-income consumers,” the 37-page Consumer Financial Protection Bureau report concludes.

To remedy the “credit inequality,” credit reporting agencies are being pressed to generate scores for this high-risk group based on payments of cellphone and utility bills, as well as immigrant remittances. Read More..

Shock Report About Secret Obama Treaty: “Unlimited Migration From Mexico… Gun Import Bans… Ammunition Bans”

Posted on May 18th, 2015

Obama Secret TreatyBy Max Slavo

The Obama administration is feverishly working with foreign lawmakers and officials on a new Trans-Pacific Parternship (TPP) trade agreement. Yet what may seem like business as usual is anything but.

The President has made it a point to keep any details of the agreement completely secret, so much so that what amounts to a gag order has been placed on anyone who has anything to do with the bill. Even members of Congress are unable to discuss the contents of the bill with each other or in public, and anyone who is invited to discussions over the bill must leave cell phones and staff members behind. Since not even Republicans have yet to spill the beans about the details of the agreement, one can only assume that those attending the meetings are doing so under threat of criminal prosecution or worse if they talk.

This, of course, begs the question: What is so important to the Obama administration that it has to be kept secret from the American public until after the agreement has been passed? Read More..

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