Palin Unloads On Obama…Again !
In her latest Facebook post titled: Conquering the Storm. The subject, of course, is economics. Specifically our overwhelming debt, the S&P downgrade, and the abject failure of Obamanomics. It's definitely a must-read. Here's a taste:
In the coming days we’ll sort through the repercussions of S&P’s downgrade of our credit rating, including concerns about the impact a potential interest rate increase would have on our ability to service our suffocating $14.5 trillion debt.
Back in December 2010, I wrote: “If the European debt crisis teaches us anything, it’s that tomorrow always comes. Sooner or later, the markets will expect us to settle the bill for the enormous Obama-Pelosi-Reid spending binge. We’ve already been warned by the credit ratings agency Moody’s that unless we get serious about reducing our deficit, we may face a downgrade of our credit rating.” And again in January, in response to President Obama’s State of the Union address I wrote: “With credit ratings agency Moody’s warning us that the federal government must reverse the rapid growth of national debt or face losing our triple-A rating, keep in mind that a nation doesn’t look so ‘great’ when its credit rating is in tatters.”
One doesn’t need a Harvard Law degree to figure this out! Just look across the pond at Europe. European nations with less debt and smaller deficits than ours and with real “austerity” plans in place to deal with them have had their ratings downgraded. By what magical thinking did we figure we could run up perpetual trillion dollar deficits and still somehow avoid the unforgiving mathematics of a downgrade? Nothing is ever “too big to fail.” And there’s no such thing as a free lunch. Didn’t we all learn that in our micro and macro econ classes? I did at the University of Idaho. How could Obama skip through Columbia and Harvard without learning that?
[emphasis-ed]
She goes on to talk about strong policy prescriptions for turning the US economy around, getting us back on track, and restoring prosperity through cutting spending, shrinking government, and drastically changing Obama's stifling energy policy. Serious proposals for serious times...
Then she wraps it all up with a strong finish, tellin' it like it is; Sarahcuda style:
Be wary of the efforts President Obama makes to “fix” the debt problem. The more he tries to “fix” things, the worse they get because his “solutions” always involve spending more, taxing more, growing government, and increasing debt. This debt problem is the greatest challenge facing our country today. Obviously, President Obama doesn’t have a plan or even a notion of how to deal with it. His press conference today was just a rehash of his old talking points and finger-pointing. That’s why he can’t be re-elected in 2012.
Our economic news is disheartening and the task before us can seem daunting, but we must not lose our sense of optimism. People look around today and may see only the negative. They see a culture and a nation in decline, but that’s not who we are! America must regain its optimistic pioneering spirit again. Our founders declared that “we were born the heirs of freedom.” We are the heirs of those who froze with Washington at Valley Forge, who held the line at Gettysburg, who freed the slaves, carved a nation out of the wilderness, and allowed reward for work ethic. We are the sons and daughters of that Greatest Generation who stormed the beaches of Normandy, raised the flag at Iwo Jima, and made America the strongest and most prosperous nation in the history of mankind. By God, we will not squander what has been given us!
I've said it before, but I'll reprise now; she sounds positively Reagan-esque, in tone and content...
And while many here may not exactly count themselves among Palin's supporters, if she throws down a, "There they go again...", in an affable reply to an oft-repeated, tiresome, progressive talking point; y'all might as well toss me a life preserver, because I'll be completely in the tank.
What do you think, kind reader? Both of her post and of her, broadly speaking of course.
[Cross Posted at The Conservatory]
Senator Jeff Sessions: it’s past time for Obama to put his debt plan on the table
Barack "L'etat c'est moi!" Obama
Which he's speaking about a debt reduction plan. Because everyone's already seen the President's plan to increase our debt; that would be the risible "plan", that was not really a plan but a speech, that the MBM allowed him to palaver on about in April in a press op that was more about ripping Paul Ryan and his Roadmap for America,that had been released the day before, than about presenting a serious budget to the American people. From Sessions' Senate website:
After my staff and I have had additional time to analyze the summary, even more questions and concerns have arisen. Serious flaws have been identified.… The production of the Gang’s summary at the last minute also underscores my severe concerns over how this process has unfolded… Senate Democrats and the White House have fiercely resisted formulating an actual debt plan at every step of the way. Instead, the president has pushed for secret meetings—avoiding the public accountability of putting a plan to paper—followed by press conferences at which he asserts his support for broad deficit reduction even when no such plan has been written. The real bluff from the president is the idea that a White House deficit reduction plan exists. It’s time for the White House to lay its cards on the table.
The production of the Gang’s summary at the last minute also underscores my grave concerns over how this process has unfolded. The Republican-led House has fulfilled its responsibilities. The Republican-led House passed a budget more than three months ago. The Democrat-led Senate, by contrast, has refused to pass a budget in 812 days, and refused to make one public this year. If they had presented a budget in public, in the open, we wouldn’t be in the situation we are in right now. The president presented a budget in February, meanwhile, that would have added a stunning $13 trillion to our debt. That remains the only plan he has ever put on paper.
Senate Democrats and the White House have fiercely resisted formulating an actual debt plan at every step of the way. Instead, the president has pushed for secret meetings—avoiding the public accountability of putting a plan to paper—followed by press conferences at which he asserts his support for broad deficit reduction even when no such plan has been written. The real bluff from the president is the idea that a White House deficit reduction plan exists. It’s time for the White House to lay its cards on the table.
[emphasis-ed.]
Sessions makes a good point. The Cut, Cap, and Balance plan passed by the House of Representatives is the only plan that's on the table in writing right now; not to mention that it is a viable piece of legislation waiting for a vote in the Senate. Make no mistake, no matter what anyone thinks of the McConnell "plan B" compromise, Coburn's own plan, or the outline of intent put forth this week by the erstwhile "Gang of Six", they are merely frameworks at best.
Once again the President has been leading from behind, and that's not cutting it for a pressing matter that may be disastrous if not addressed. Instead of trying to "stay above the fray" and appear Presidential, Obama need to actually be Presidential . This isn't like when he was at the Harvard Law Review, or frankly like most of his career in public life; he can't sit back, wait for others to do the heavy lifting for him, and appear at the last minute to take credit .
Try being a leader for a change. Put the dang plan on the table, Mr. President.
I urge all our readers to e-mail or call the White House and give voice to this sentiment.
[Cross posted at The Conservatory]
Wynn not the only CEO unhappy with The Won
Recall the story posted here the other day about Wynn Resorts CEO's epic rant that stemmed from his dissatisfaction with Obama's failed economic policies? Did it seem like something out of the ordinary to you? I mean, generally business leaders tend towards being apolitical; especially since the modern political left in America are devotees of the notion that, "the political is personal", and will call for a boycott of any company which they decide isn't doing business or comporting themselves in the "correct" manner in a proverbial New York second.
That's what makes the statements of some major US CEOs recounted in this article from IBD all that more interesting. While not as long and complete as Wynn's rant, they definitely don't beat around the bush:
-3M's George Buckley, who blasted Obama last February as anti-business. "We know what his instincts are," Buckley said. "We've got a real choice between manufacturing in Canada or Mexico — which tends to be more pro-business — and America," he told the Financial Times.
-Boeing's Jim McNerney, who in the Wall Street Journal last May called Obama's handpicked National Labor Relations Board's suit against his company a "fundamental assault on the capitalist principles that have sustained America's competitiveness since it became the world's largest economy nearly 140 years ago."
-Intel's Paul Otellini, who told CNET last August that the U.S. legal environment has become so hostile to business that there is likely to be "an inevitable erosion and shift of wealth, much like we're seeing today in Europe — this is the bitter truth."
-Home Depot co-founder Bernie Marcus, who observed to radio host Hugh Hewitt last month that Obama "never had to make payroll," that "nobody has ever created a job in this administration" and that the president is "surrounded by college professors."
There's more. As we often say, read the whole thing...
It's interesting to me how executives are just now starting to speak out against Obama's failed economic policies. And they're not all "Knucke-Dragging, Reich-Wingahz" by any stretch; Wynn, for instance, is a Democrat who supported Harry Reid's re-election. Part of it may be the usual and customary reluctance to alienate potential customers, as I mentioned earlier. But it may be that the weight of these past few years, coupled with the uncertainty about what lies ahead, has finally convinced them that Obama is not the one they were waiting for. Of course, they might have realized this before now if they'd chosen to listen to the opinions of former GE CEO Jack Welch, who hasn't minced words about the disastrous nature of Obamanomics and the O!ministration's hostility to business.
Not to be an I told you so, or anything, but many of these same individuals backed Obama with both the weight of their opinions as well as their cash donations in 2008. My advice to them this time around would simply be not to...
Fool me once, shame on you; fool me twice, shame on me...
[Cross posted at The Conservatory]
Did you ever get the feeling that they are just making this stuff up?
By "they" I mean the US government, more specifically the Bureau of Labor Statistics, and by "stuff" I'm talking about what is commonly known as the unemployment rate. And the reason I think someone there is smoking crack, or something like that, is because the metrics in today's employment report defies reason.
According to the BLS the number of non-farm payroll jobs added to the economy in January was 36,000; which is a HUGE! miss from the expected number of 145,000, but somehow the overall unemployment rate dropped to 9 percent!?! How is this possible, you ask? Well it's some good ol' statistical legerdemain.
You see, the number of "unemployed persons" dropped by 600,000 last month as well; but that's not because they got jobs. They merely dropped off the statistical radar because they stopped collecting unemployment benefits (their 99 weeks were up), so we don't really know why they aren't looking for work anymore, just that they aren't. So, voila !, less people looking for work = the unemployment rate going down.
Never mind that unseasonally adjusted U-6 (total unemployed plus thiose who have goven up looking for work) surged, going from 16.6% to 17.3% . Never mind that the number of people not in the labor force has increased by over 2 million folks in the last year. Never mind that the number of "unemployed persons" has dropped by nearly a million in the last 2 months, despite less than 200,000 jobs being added in the same period of time. And never mind that the labor force participation has dropped to a 26 year low of 64.2 % . Silly wingnuts, facts, reason, and logic are for h8terz! All you need to know is that lord Obamus the great has managed to bring down the unemployment rate by nearly 1 percent since the November elections by virtue of his sheer awesomeness!!!
So remember, HAPPY DAYS ARE HERE AGAIN!!!, the President's superlative "pivot" skills have paid off, and his laser-like focus on jobs has clearly borne fruit. It's time for all you h8terz to stop talking about Obama's failed economic policies, get with the program, and start offering him praise and laud...
This concludes this POWIP PSA, you have been informed off all of the latest employment related talking points that you will hear in the coming weeks. If any new talking points arise, we will inform you as soon as we catch wind of them.
And in all seriousness, we continue to pray to God that all those truly seeking work will find some, and trust in the good Lord to provide for them as He does for us all.
Is Obama “jobbing” us about the jobs picture?
Teh Lightworker cometh!
I remember when the O!ministration promised to "pivot" and focus laser-like on jobs and the economy. But these days, I'm starting to wish that the lightworker could at least focus laser like on reality! In suburban Maryland, just outside DC, Obama chose to use a local small business for his latest public palaverings; hailing the BLS labor report, a statistical decrease in the unemployment rate, and-of course- remind us that "happy days are here again indeed".
President Barack Obama says the addition of 431,000 new jobs in May shows "the economy is getting stronger by the day."
The president says that even though the census jobs are only temporary, private sector hiring is growing, too.
Now I don't want to spoil the Presidents fun or derail his latest attempt at talking up the economy; or tell us how the stimulus saved us-again. Nor do I take any satisfaction in the BLS data falling far short of the mark that many had etimated it at, between 600 to 700k. I truly wish employment were growing, especially in the private sector, but that's just not the case.
As Jonah Goldberg points out at The Corner, and links to a more complete reference, not only did the number of private sector jobs increase pitifully compared to a month ago, but that overall participation in the workforce declined by a couple of ticks, to 65%, and that the decrease in the unemployment numbers was due to people leaving the labor force !
In fact, Tyler Durden at Zerohedge arrives at substantially the same figure, with respect to unemployment, of people being subtracted from the unemployment number by sifting through the BLS data and doing some simple arithmatic.
What's problematic for the White house is that prominent avowed Keynesian economists are starting to say that the economy is going south as well, such as former CLinton Labor Secretary Robert Reich; a gentleman I have had the pleasure of meeting a few times during my days in DC, and who generally speaks his mind whether part of the approved narrative or not. And I'm certain, that his latest observations are definitely not! part of the script:
We’re falling into a double-dip recession.
The Labor Department reports this morning that the private sector added a measly 41,000 net new jobs in May. (The vast bulk of new jobs in May were temporary government Census workers.) But at least 100,000 new jobs are needed every month just to keep up with population growth.
In other words, the labor market continues to deteriorate.
The average length of unemployment continues to rise – now up to 34.4 weeks (up from 33 weeks in April). That’s another record.
More Americans are too discouraged to look for a job than last year at this time (1.1 million in May, an increase of 291,000 from a year earlier.)
Of the small number of jobs created by the private sector in May, many came from temporary help services.
Admittedly, he seems to be under the impression that the answer is...wait for it...More Stimulus! But while I disagree with that particular solution, as it makes it harder to reduce federal spending whith all of these stimulo-bucks being tossed about in the hopes that something will stick, I find it interesting that while Obama insists on the rose-colored, unicorn riding, interpretation, Reich is bold enough to speak the inconvenient truths. Would that mean he's speaking TROOOOOOOOOOOF! to POW-AH!1!1!!eleventy?
And maybe as important is the question, when did Bob Reich become such a, well, you know...RAAAAAAAAACIST!
[Update] Jeff at Protein Wisdom has a post on the subject with a link to a Bloomberg news piece that scrutinizes the numbers also.
Image courtesy of Jabberinwookie
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