Monday, August 2, 2010

What Grade Would You Give Obama? Recession Worse Than Thought, Bush Tax Cuts End… Everyone Screwed, Our Own Government Is Our Enemy, Kerry Bitches “It’s Bush’s Fault!”, Corrupt Negro Update, Negro Lawmakers Irate At Obama

Obama says he deserves a grade of 'incomplete'

WASHINGTON -- President Barack Obama is giving himself a grade of "incomplete" for his presidency even though he says he has a "pretty good track record."

Obama tells CBS' "Sunday Morning" that his grade is incomplete because the economy has yet to fully rebound.

Still, Obama cites accomplishments - preventing a complete collapse of the economy, saving the financial markets and the auto industry, and passing the health care law.

The president says he feels sometimes that his administration isn't getting the credit it deserves, but he says that's because Americans remain scared, angry and frustrated.

No Dickhead you deserve a "G" for Get the Fuck out of office before you destroy the country.

Recession was deeper than gov't previously thought - Yahoo Finance

The recession was deeper than the government originally thought. The economy actually shrank last year by 2.6%, which is the steepest drop since 1946. Revisions in the GDP now show that that there was zero growth in GDP.
Entitlement Reform an Uphill Battle - Real Clear Politics

When it comes to entitlement reform, the Obama administration has not only avoided reform; it has complicated the job for future administrations.

WASHINGTON -- On the federal debt crisis, inertia has all the momentum. A compelling political logic favors inaction.

America's debt problem is mainly an entitlement spending problem. Serious entitlement reform would involve concentrating limited resources on the poor, eliminating subsidies for the rich and moving support for the middle class from a system of defined benefits to defined contributions. However skillfully this transition is designed, it will mean a middle-class benefit cut. That's why, in 2005, Republicans and Democrats both fled from Social Security reform like startled grouse. Even worse, this year President Obama and the Democratic Congress created a new health entitlement funded mainly by taking money from Medicare, making that program more difficult to stabilize in the future. The Obama administration has not only avoided reform; it has complicated the job for future administrations.
Letting The Bush Tax Cuts Expire Will Only Hurt The Rich, Right? - Stop The ACLU

As we head deeper into the silly season, which occurs every two years, it appears as if one of the cute little liberal talking points about the tax cuts of 2001/2003 were only for the rich has truly rotted liberals brains. Facts are pesky things which, after all these years, still elude liberals, and now the talking point goes something like this:

Letting the tax cuts expire will only hurt the rich

As Spending by Wealthy People Weakens, So Does Economy - CNS News

Washington (AP) - Wealthy Americans aren't spending so freely anymore. And the rest of us are feeling the squeeze.

The question is whether the rich will cut back so much as to tip the economy back into recession -- or if they will spend at least enough to sustain the recovery.

The answer may not be clear for months. But their cutbacks help explain why the rebound could be stalling. The economy grew at just a 2.4 percent rate in the April-June quarter, the government said Friday, much slower than the 3.7 percent rate for the first quarter.

Economists say overall consumer spending has slowed mainly because the richest 5 percent of Americans -- those earning at least $207,000 -- are buying less. They account for about 14 percent of total spending. These shoppers have retrenched as their investment values have sunk and home values have languished.

Just a reminder: Raising taxes on the rich means less tax revenue - WSJ Online

Tax reduction thus sets off a process that can bring gains for everyone, gains won by marshalling resources that would otherwise stand idle—workers without jobs and farm and factory capacity without markets. Yet many taxpayers seemed prepared to deny the nation the fruits of tax reduction because they question the financial soundness of reducing taxes when the federal budget is already in deficit. Let me make clear why, in today's economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarged the federal deficit—why reducing taxes is the best way open to us to increase revenues.

—President John F. Kennedy,
Economic Report of the President,

January 1963

If only more of today's leaders thought like JFK. Sadly, in the debate over whether to extend the 2001 and 2003 tax cuts, and if so whether the cuts should be extended to those people who are in the highest tax bracket, there is a false presumption that higher tax rates on the top 1% of income earners will raise tax revenues.

Anyone who is familiar with the historical data available from the IRS knows full well that raising income tax rates on the top 1% of income earners will most likely reduce the direct tax receipts from the now higher taxed income—even without considering the secondary tax revenue effects, all of which will be negative. And who on Earth wants higher tax rates on anyone if it means larger deficits?

Obama, Who Ended D.C.’s Voucher Program, Talks About Improving Education for Children ‘Born in the Wrong Neighborhood’ - CNS News

( – The Obama administration is phasing out a program that allows underprivileged children to get scholarships to expensive private schools in Washington, D.C., such as Sidwell Friends, the school the Obama girls attend, where tuition runs about $31,000 a year.

Nevertheless, Obama on Thursday spoke about his “obligation to lift up every child” to help them achieve a quality education.

In addressing the National Urban League’s 100th Anniversary Convention, Obama touted his education reform initiative called “Race to the Top.” The $4.35 billion education initiative encourages states to reform their education laws and policies by making them compete for additional federal grant dollars.

Obama said it has been a success. But the National Urban League and even a major teachers' union have criticized "Race to the Top" for leaving minority students behind.



Obama's Immigration Power Play - American Spectator

Last week, the Obama administration got Clinton-appointed Judge Susan Bolton to at least temporarily throw out key provisions of Arizona's immigration law. Within 24 hours came more evidence that they weren't done eviscerating immigration enforcement yet.

That proof came in the form of an astonishing internal memo outlining ways the United States Citizen and Immigration Services (USCIS) could effectively legalize at least tens of thousands of illegal immigrants even if Congress fails to enact amnesty. Some would be granted resident status with the USCIS simply giving them green cards. Others would be allowed to evade deportation, possibly indefinitely.
LA Times: Arizona Used To Be Hunky Dorey With Illegals-What Happened? - Stop The ACLU

For a change, an Old Media outlet does a very good job in explaining just how Arizona went from a state that was tolerant of illegals as little as six years ago to a state that wants them all gone.

Immigration Protesters Run Onto Baseball Field With Mexican Flags...

White Sox Manager: Asians Treated Better Than Latinos...

With the elections less than 100 days away, here are the 10 telling signs that blaming bad times on Bush is not a winning strategy.

John Kerry: "Not Fair" To Stop Blaming Bush And Now Blame Obama - Real Clear Politics (Video)

"I think what's happened is Fareed, in the last six months I think there was an article even in the paper this week about people no longer blaming Bush. They're beginning to target this White House. That's a natural course of events as you go through any administration, but I don't think it is fair to the President," Sen. John Kerry (D-MA) said on CNN.

"The story hasn't been sufficiently told," Kerry added.

Rasmussen: Days of blaming Bush are over - Hot Air
Ethics trials highlight racial tensions in Congress. Proceedings slated for House members Maxine Waters, Charles Rangel could create a rift between the Congressional Black Caucus & other Democratic leaders - Los Angeles Times

Rangel, Waters, and the perils of Democrats 'draining the swamp' - Christian Science Monitor

As if the Democrats didn't have enough headwind going into the November elections, now two of the most prominent and longest-serving black Democrats in the country – Rep. Charlie Rangel of New York and Rep. Maxine Waters of California – are now reportedly both set to fight ethics charges at open House trials before Election Day.

Congressman Rangel faces 13 ethics charges, including allegations of improper fundraising and tax evasion, which were released this week.

Congresswoman Waters, a House ethics subcommittee is reportedly about to allege, broke ethics rules by lobbying Treasury officials for a $25 million bailout of OneUnited Bank in Boston, in which her husband, former NFL player Sidney Williams, has a financial stake.

Both House members have reportedly turned down plea offers for relatively light reprimands in order to fight the charges. Both ordeals promise to be showcase trials in the critical days before an election that Republicans are painting as a referendum on the agenda of the Democrat-controlled Congress and White House.

If they come to fruition, the trial-like ethics hearings could also drive a dispiriting wedge between Democrats, including the Obama White House, and African-American supporters who, so far, have been the only voting bloc not to waver in their support for the first black president.

Troubled Waters - American Spectator

Rep. Maxine Waters who may be facing a formal House of Representatives ethics trial over her activities on behalf of a bank, is just the most recent member of the Congressional Black Caucus to face such an investigation. Currently New York Rep. Charles Rangel is facing an ethics trial, following in the footsteps of ethically challenged Louisiana Rep. William Jefferson. Waters, the long-time Southern California representative, is, according to House sources, facing charges that she provided special access to OneUnited Bank, a Massachusetts based bank that is similar in its history to the notorious ShoreBank in Chicago.

Remember: The Van Jones - ShoreBank Connection?

The Shady ShoreBank Bailout - Michelle Malkin - Patriot Post

The Chicago political friends and family of ShoreBank. The ties are long and deep, as the Central Illinois 9/12 Project has been chronicling for months:

-- ShoreBank co-founder Jan Piercy was a Wellesley College roommate of Hillary Clinton's, who has long supported the bank along with former president Bill Clinton.

-- Former ShoreBank Vice Chairman Bob Nash worked for Mrs. Clinton's presidential bid as deputy campaign manager. Board of Directors member Howard Stanback is a Hyde Park neighborhood pal of President Obama, who served with Stanback on the board of the radical Woods Fund (where Weather Underground terrorist Bill Ayers also sat).

-- White House senior advisor Valerie Jarrett served on the board of Chicago Metropolis 2020 with ShoreBank Director Adele Simmons, former president of the liberal MacArthur Foundation, where she focused on "climate change" and "global governance" issues.

-- The bank and its employees donated some $12,000 to the Obama 2008 presidential campaign, and co-founder Mary Houghton reportedly gave advice to Obama's late mother about small business lending issues.

African-American lawmakers are irate that the Obama administration has promised Sen. Blanche Lincoln (D-Ark.) $1.5 billion in farm aid while claiming it can’t pay a landmark legal settlement with Black farmers


1 comment:

Just Sayin' said...

Inside Obama's head

In Saudi Arabia - "There's an important man maybe he knows" Aloud: Have you seen my cojones? (looks down to check)

In Japan - "Another big important guy" Aloud: Have you seen my cojones? (looks down to check)

In China - Aloud: Have you seen my cojones? (looks down to check)

In New Jersey - "There's a real big guy, maybe he knows" Aloud: Have you seen my cojones? (looks down to check) Christie: "God, he's just as bad as Corzine" Aloud: No, Mr. President. Were they as big as these?