Filed under: Capitalism, Democrat Corruption, Economy, Law, Taxes | Tags: Declining Support, President Barack Obama, Sheer Crony Capitalism
Democrats lost a special election in a congressional district that they have controlled since the 1920s, and which was framed as a referendum on the president’s economy. Median household income has fallen for the third consecutive year. A record number of Americans are struggling in poverty.
The administration’s attempt to shut down conventional power to boost the competitiveness of alternative energy is becoming increasingly questionable as more information is exposed about the crony capitalism that went into the administration support for solar power. Government grants go to reward major financial supporters. Solyndra seems to be only the tip of the scandal.
Things are quietly coming apart, and Obama has established an “Attack Watch” website where supporters can post criticisms of Obama so they can be refuted, (to a great deal of humor on the internet). Obama now claims that his tax hikes on big corporations and the wealthy would pay for most of his new Solyndra Bill. A little strange in the wake of “All of this is paid for.”
As Obama arranges more government support for the unions, who will reward him with funds and campaign workers, the unions are breaking out in new rounds of thuggishness. The jobs in the American Jobs Bill are designed for the president’s union supporters. If you’re just unemployed, nevermind.
And at a state university in North Carolina today, Obama spoke to students and begged them “If you love me, you gotta help me pass this bill.”
Filed under: Capitalism, Economy, Health Care, Law, Politics, Taxes | Tags: Headed In The Wrong Direction, Obama's Spending Record, The National Debt
The national debt is now up to $14,639,000,000,000, or was a few days ago.
When Barack Obama took the oath of office on January 20, 2009, the national debt was $10,626,000,000,000. Our national credit rating was AAA, and the unemployment rate was 5.7 percent.
In only 945 days, Obama has spent $4,247,000,000,000. And it’s growing by about $3 million a minute.
In 2008, when George W. Bush was president, according to Gallup, 14.9 percent of adult residents of the United States lacked health insurance coverage. That increased to 16.4 percent in 2010, the year that Obama signed the law requiring that all Americans have health insurance. In the first half of this year, the percentage of adults in the United States lacking health insurance increased to 16.8 percent in spite of a concerted effort to sign people up.
Only half of American pay federal income tax.
45.8 million Americans are receiving food stamps
More than 11 million American families own homes where the mortgage now exceeds the value of their homes. The poverty rate has climbed to 15.1% in 2010, up from 14.3% in 2009.
When the Affordable Care Act passed, liberals celebrated because of the way that the bill would spread the wealth. Tackling inequality. Uh huh. The official poverty rate — defined as a family of four earning less than $22,314 — rose to 15.1 %, that’s up from 114.3% in 2009 and 12.5% in 2007. The official rate doesn’t include government income transfers, but this increase is faster than during any 3 year period since the early 1980s.
ADDENDUM: In spite of an executive order from President Obama that was praised as a measure to control over-regulation, the numbers of federal regulations and the costs of those regulations on the economy are growing. The Obama administration has imposed 75 major new regulations that cost over $380 billion over ten years. There are 219 more “economically significant regulations” in the works which will cost businesses $100 million or more each year— at a minimum $21 billion over ten years.