The CBO estimated that the 2012 budget deficit will top $1 trillion for the fourth consecutive year under the Obama administration. The CBO estimated that the 2012 budget deficit will be approximately $1.1 trillion in a year that President Obama will be making the case to the American people that he deserves four more...
Read more »
economy
Obama Adds To Budget Deficit Four Times Faster Than Bush
What is Behind the Drop in the Unemployment Rate to 8.6%?
The Bureau of Labor statistics announced today that the U.S. labor market added 120 thousand jobs in October and that the unemployment rate dropped from 9% to 8.6%. The number of jobs added and lost and the unemployment rate often seem to be out of step as adding or losing jobs can have a...
Read more »
Unemployment Rises to 9.2% in June
The economy continues to signal weakness as unemployment rises to 9.2% in June. Employers added a net 18,000 jobs falling far below expectations and pushing the unemployment rate up 0.1%. The results fall far below the 7/7 ADP report that had expected unemployment to hold steady at 9.1% with employers adding over 100,000 jobs....
Read more »
Obama’s Tax The Rich Strategy Will Not Solve Budget Deficit
President Obama’s tax the rich strategy will not solve the budget deficit or come close to addressing the national debt. This week, President Obama choose to run for a second term rather than demonstrate leadership in solving the budget deficit. He wants to raise taxes on the wealthy to fix the crushing deficits that Obama plans...
Read more »
Is the US Broke?
The Progressive movement is embracing a new talking point that the United States is not broke, but that rich people and banks have taken all our money. Progressives simply want to take “our” money back and presto, deficit and debt problems would be solved. According to CBO estimates, the government is on track to...
Read more »
Unemployment Raises to 9.8%
On Friday, the Bureau of Labor Statistics reported a jump in the unemployment rate to 9.8% signaling a continuation of a weak economy. Economists were predicting much stronger job growth in November and for the unemployment rate to remain unchanged at 9.6%. The November unemployment rate of 9.8% represents a seven month high as...
Read more »
Obama Deficit Tops $1.29 Trillion For 2010
The CBO reported that the Obama deficit for 2010 was $1.29 trillion. The CBO is also projecting that the Obama administration and congressional Democrats will deliver a $1.4 trillion deficit for 2011. Taking into account the Obama deficit for 2009, 2010, and the 2011 projection, the Democrat controlled Congress and White House will add...
Read more »
Initial Jobless Claims Continue To Rise
The media and the Obama administration continually spin the jobless claims numbers. The initial jobless claims go up or down weekly. When the number goes down, the media and the Obama administration hail the falling initial jobless claims as a sign that Obama’s policies are working. When the numbers go up the answer is...
Read more »
Obama Increases Deficit and Debt
Incinerating a Hot Potato By Scott Spiegel If deficit spending is the way out of an economic downturn, as leftist economists like Paul Krugman keep telling us, then one way to characterize President Obama’s approach to reviving the ailing economy is “killing it with kindness.” Another is “tough love” – not the kind where...
Read more »
United States National Debt Reaches $12 Trillion
Today we read a post that indicated that as of 3:00 pm on 11/17, the United States National debt topped $12 billion for the first time setting a new US national debt record. According to a post at Hot Air, the United States national debt was $12,031,299,186,290.07 at 3:00 pm. This indicates that it...
Read more »