Archive for September 27th, 2012

Not only is Obama’s “recovery” the worst in history but Americans are earning less under Obama than they did under Bush. Mmm, Mmm, Mmm, trickle up poverty.

From the Weekly Standard:

Americans must be wondering how much more of this “recovery” they can afford.  New figures from the Census Bureau’s Current Population Survey, compiled by Sentier Research, show that the typical American household’s real (inflation-adjusted) income has actually dropped 5.7 percent during the Obama “recovery.”  Using constant 2012 dollars (to adjust for inflation), the median annual income of American households was $53,718 as of June 2009, the last month of the recession.  Now, after 38 months of this “recovery,” it has fallen to $50,678 — a drop of $3,040 per household.

Yet it gets worse.  Amazingly, incomes have dropped even more during the “recovery” than they did during the recession.  In fact, they’ve dropped more than twice as much as they did during the recession.  From the start to the end of the recession, the real median income of American households fell $1,413, or 2.6 percent.  From the end of the recession to the present day, it has dropped $3,040, or 5.7 percent.  This begs the question:  What kind of “recovery” compares unfavorably with the recession from which it’s ostensibly recovering?

Two of the groups hit hardest have been ones that turned out in abundance for Obama in 2008:  black Americans and younger Americans (those between the ages of 25 and 34).  During the first three years of the Obama “recovery,” the real median household income for black Americans dropped a whopping 11.1 percent.  For Americans between the ages of 25 and 34 — the group most apt, as Paul Ryan put it, to be “staring up at fading Obama posters” and looking to “get going with life” — real median household income dropped 8.9 percent.

Moreover, we’re still not headed in the right direction.  Last month, American households’ real median annual income fell by another $543 — from $51,221 to $50,678.  Sentier’s Gordon Green, former chief of the Governments Division at the Census Bureau, says, “This latest decline in real median annual household income is indicative of a struggling economy.”  He adds that, while we are “technically” in a recovery, “real median annual household income is having a difficult time maintaining its present level, much less ‘recovering.’”

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Democrats share a lot in common with Communists and Socialists so this isn’t really shocking.

From Politico:

A record percentage of Americans would prefer that a single political party control the government, with nearly half of all Democrats preferring that a one party be in charge of both the executive and legislative branches, according to a poll released Thursday.

Gallup poll found that 38 percent of Americans want single-party rule in Washington, while 23 percent want divided government. A third have no preference, down from 39 percent in 2011. At that time, 29 percent wanted divided government, and 28 percent wanted single-party rule. In the past, most Americans have generally had no preference.

Democrats drove the sharp spike in support of one-party dominance, with 49 percent hoping for it, up for 35 percent in 2011. A slightly higher number of Republicans also wished for one party rule, and the percentage of independents jumped from 21 percent to 28 percent.

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Lies, lies and more lie. The story continues to change and the Obama regime continues to lie. Obama says one thing then another when giving his UN speech. They have called it everything from spontaneous to a mob action. They call it a terrorist act then Obama blames a video for the planned attack. They claimed they had no idea about security threats, then removed a memo from the State Department website. The cover-up is being done to hide the facts from the voters.

Looks like Obama shot first and aimed later.

From ABCNews:

Even before Defense Secretary Leon Panetta contradicted the initial story about the attack on the U.S. consulate in Benghazi, Libya, today, Obama administration officials told ABC News they were concerned after the White House began pushing the line that the attack was spontaneous and not the work of terrorists.

Events were too uncertain, and suspicions had been aroused, officials said.

Panetta today said that the attack that killed four Americans on the anniversary of 9/11 was not only carried out by terrorists — it was pre-meditated.

“As we determined the details of what took place there and how that attack took place,” Panetta told reporters, “it became clear that there were terrorists who had planned that attack.”

The White House first suggested the attack was spontaneous — the result of an anti-Muslim video that incited mobs throughout the region.

“Let’s be clear, these protests were in reaction to a video that had spread to the region,” White House press secretary Jay Carney said on September 14.

When ABC News pressed Carney on whether that included the Benghazi attack, in which U.S. Ambassador Chris Stevens and three other American men were killed, Carney said, “we certainly don’t know. We don’t know otherwise. We have no information to suggest that it was a preplanned attack.”

On THIS WEEK on September 16, U.S. Ambassador to the United Nations Susan Rice said, “our current best assessment, based on the information that we have at present, is that, in fact, what this began as, it was a spontaneous – not a premeditated – response to what had transpired in Cairo. In Cairo, as you know, a few hours earlier, there was a violent protest that was undertaken in reaction to this very offensive video that was disseminated. We believe that folks in Benghazi, a small number of people came to the embassy to – or to the consulate, rather, to replicate the sort of challenge that was posed in Cairo. And then as that unfolded, it seems to have been hijacked, let us say, by some individual clusters of extremists who came with heavier weapons… And it then evolved from there.”

White House officials acknowledge that assessments have changed over time as intelligence has been confirmed, but they insist that no information was given in bad faith and there was no attempt to downplay the attack.

But sources told ABC News that intelligence officials on the ground immediately suspected the attack was not tied to the movie at all. The attackers knew where to get Ambassador Stevens after he’d fled to a so-called safe house half a mile away. That building was hit with insurgent mortars — suggesting the terrorists knew what they were doing.

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That’s so raaacist! It disenfranchises minorities! It’s a poll tax! Eric Holder & the NAACP hardest hit.

From Politico:

About three-in-five Pennsylvanians support the state’s voter ID law, and only 2 percent said they don’t have the documents necessary to cast a ballot, according to a new poll.

The state is sharply divided, with three-quarters of registered voters having a strong opinion on the law, according to the Franklin & Marshall College poll on Wednesday. Fifty-nine percent support the identification requirement, and 39 percent oppose it. Even after being presented with the opposite sides’ arguments, a majority of voters maintain their strong support or opposition.

Awareness of law, which passed in May, is high. Eighty-seven percent of Pennsylvanians know ID is required to vote, and only 2 percent said they don’t have the necessary state-approved photo ID.

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This is a member of the 47% that Romney claim feel they are entitled to things. Bet you won’t see this on MSNBC or any other alphabet-media outlet for that matter. It’s “free” to her but not so free to the 53% who pay federal taxes.

This Obama supporter is part of the “majority coalition” Obama wanted to create and organize for political gain. It’s part of the Cloward-Piven strategy to overwhelm the system so it crashes.

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In Obama’s world these weak numbers are a sign of “recovery.”

From CNBC:

New durable goods orders in August fell by the most since the recession and a separate reading on the broader U.S. economy came in much weaker than expected. But weekly jobless claims sank to a two-month low, in a hopeful sign for the labor market.

New orders for long-lasting U.S. manufactured goods in August fell by the most in 3 1/2 years, pointing to a sharp slowdown in factory activity even as a gauge of planned business spending rebounded.

The Commerce Department said on Thursday durable goods orders dived 13.2 percent, the largest drop since January 2009, when the economy was in the throes of a recession. Orders for July were revised down to show a 3.3 percent increase instead of the previously reported 4.1 percent gain.

Economists polled by Reuters had expected orders for durable goods — items from toasters to aircraft that are meant to last at least three years — to fall 5 percent.

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Translation: I can’t be tough on China because they hold my credit card.

KENT, Ohio — President Barack Obama, addressing questions Wednesday about China’s alleged trade abuses and currency manipulation, said the United States must push back against unfair practices but not “go out of our way to embarrass” the country.

Doing so would risk “an all-out trade war,” Obama told The Plain Dealer in an exclusive interview.

“What we have found is that when we push them very hard but we don’t go out of our way to embarrass them, we get results,” he said while meeting with the newspaper’s editorial board before a rally at Kent State University. “There’s a strong nationalist sentiment inside of China, and they’ve got their own economic pressures. So we’re not interested in triggering an all-out trade war that would damage both economies. What we’re interested in is making sure they’re treating our workers fairly, and that’s what we’ve delivered on.

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Nothing to see here. Just more crony capitalism from Team Obama.

From WFB:

The Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board, which meets Thursday for the first time in St. Louis, contains numerous Democratic donors, including a member of the Democratic National Committee (DNC).

The CFPB—a controversial organization with massive oversight powers over financial institutions and little accountability that was created as part of the Dodd-Frank financial reform legislation—announced the members of the board on Sept. 12. CFPB director Richard Cordray said in a statement, “This group of experts truly represents the interests of the diverse people and communities we serve.”

The board is not nearly as politically diverse as Cordray implies, however: 10 members on the 25-member panel have donated to Democratic candidates or Democratic organizations, records show. Only two members have donated to Republicans. The first has only donated money once—a donation to Mitt Romney in March of this year. The second has given to Democrats and to one Republican—the 2010 Republican primary challenger for the House seat held by Rep. Todd Akin (R., Mo.). This $250 donation comprises just 6 percent of the member’s total political donations.

Richard Cordray is the guy Obama ILLEGALLY recess-appointed while Congress was still in session. The Dodd-Frank Act stated that the person put in place over the CFPB had to be confirmed by the Senate, not the President of the United States.

John Berlau, a senior fellow at the Competitive Enterprise Institute (CEI), said that the political imbalance “underscores the fact that there is no accountability of the CFPB to Congress.” He added, “You would think that as a courtesy, they would have asked for Congress’s input,” although the imbalance implies that the Bureau has not.

The committee also includes a member of the Democratic National Committee, Robert Stoll, who is a lawyer in Portland, Ore. In addition to being a member of the national committee, Stoll is also the vice-chair of the Oregon Democratic Party, and his biography on his firm’s website says he has been “the general chair or finance chair for many Democratic presidential, gubernatorial, U.S. Senate, and congressional races in Oregon.”

All together, members of the board have donated more than $80,000 to Democratic political candidates and committees since 2007. Republican candidates have received $1,250.

Such donations resemble labor unions’ political giving. According to the Wall Street Journal, corporate PACs gave 55 percent of their money to Democrats in 2008, while labor unions gave 92 percent to Democrats. In comparison, among the members of the advisory board, over 98 percent of political donations went to Democratic candidates or to Democratic organizations.

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The media will not report these facts because it’s a clear sign a recession is right around the corner. Durable good orders in August dropped 13.2% to a 4-year low:

New orders for manufactured durable goods in August decreased $30.1 billion or 13.2 percent to $198.5 billion, the U.S. Census Bureau announced today. This decrease, down following three consecutive monthly increases, was the largest decrease since January 2009 and followed a 3.3 percent July increase. Excluding transportation, new orders decreased 1.6 percent. Excluding defense, new orders decreased 12.4 percent. Transportation equipment, down following four consecutive monthly increases, had the largest decrease, $27.8 billion or 34.9 percent to $51.9 billion.

Shipments of manufactured durable goods in August, down two of the last three months, decreased $6.8 billion or 3.0 percent to $222.5 billion. This was also the largest decrease since January 2009 and followed a 1.9 percent July increase. Transportation equipment, down two of the last three months, had the largest decrease, $5.5 billion or 7.9 percent to $63.9 billion. This followed a 7.9 percent July increase.

Things are so bad that businesses have stopped investing in their businesses….

Nondefense new orders for capital goods in August decreased $18.5 billion or 24.3 percent to $57.7 billion. Shipments decreased $1.2 billion or 1.7 percent to $69.5 billion. Unfilled orders decreased $11.9 billion or 2.0 percent to $580.5 billion. Inventories increased $1.5 billion or 0.9 percent to $171.9 billion. Defense new orders for capital goods in August decreased $4.1 billion or 40.1 percent to $6.1 billion. Shipments decreased $0.1 billion or 1.7 percent to $8.1 billion. Unfilled orders decreased $2.0 billion or 1.2 percent to $165.6 billion. Inventories increased $0.4 billion or 1.8 percent to $21.4 billion.

On top of this bad economic news, the BEA revised their GDP down from 1.7% to 1.3%:

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.3 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.

The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 1.7 percent (see “Revisions” on page 3).

The liberal media will not run this as their top story. They’re in full “cover Obama’s ass” mode and you can expect another Romney story to cover up the truth about Obama’s failing economy. Hey did you know the NFL refs are coming back?

H/T to HotAir

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Living like royalty as the rest of us suffer under his presidency and failed policies.

From Daily Caller:

Taxpayers spent $1.4 billion dollars on everything from staffing, housing, flying and entertaining President Obama and his family last year, according to the author of a new book on taxpayer-funded presidential perks.

In comparison, British taxpayers spent just $57.8 million on the royal family.

Author Robert Keith Gray writes in “Presidential Perks Gone Royal” that Obama isn’t the only president to have taken advantage of the expensive trappings of his office. But the amount of money spent on the first family, he argues, has risen tremendously under the Obama administration and needs to be reined in.

Gray told The Daily Caller that the $1.4 billion spent on the Obama family last year is the “total cost of the presidency,” factoring the cost of the “biggest staff in history at the highest wages ever,” a 50 percent increase in the numbers of appointed czars and an Air Force One “running with the frequency of a scheduled air line.”

“The most concerning thing, I think, is the use of taxpayer funds to actually abet his re-election,” Gray, who worked in the Eisenhower administration and for other Republican presidents, said in an interview with TheDC on Wednesday.

“The press has been so slow in picking up on this extraordinary increase in the president’s expenses,” Gray told TheDC. 

Specifically, Gray said taxpayer dollars are subsidizing Obama’s re-election effort when he uses Air Force One to jet across the country campaigning.

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