What a bargain!
Seems a bit desparate to me…almost pathetic. Are people so enamored with BHO that they want to share a meal with our superstar president?
Ford TV Ad Slams Obama Auto Bailouts
My next car will be a Ford.
Oops! I’m destroying our economy a little too quickly, better throttle back a bit…
So environmental issues are only fashionable when we aren’t in a recession, eh? That should tell you how legitimate they are. I find it humorous that BHO is making so many errors and retreating on all of his agenda items. Poor fella.
http://news.yahoo.com/obama-halts-controversial-epa-regulation-143731156.html
Real life provides the best humor
I’m sure that American auto workers are really happy that the Canadians are using American made parts to build their cars!!
Did you hear about the Earthquake?
Did you hear about the Earthquake on the east coast? There wasn’t any known fault line, so Obama has already named it Bush’s Fault.
Humor
There was drama at the White House this week when a man tried to hurl himself over the fence. But the Secret Service intervened and talked the president into going back inside and finishing his term.
That’s from Conan O’Brien’s monologue a few nights ago and I think it captures the mood pretty well.
Rush again…
“France has a higher credit rating than we do. France! They produce cheese and perfume, for crying out loud!” -Rush
Google “Obama Blames”
I cannot take credit for this but Rush says Google ”Obama Blames” and see the list of hits. Nothing sticks to this narcissistic maniac. I find it amazing how he is so screwing up this country and simultaneously taking zero credit for it.
Timothy Geithner to stay at Treasury
http://www.politico.com/news/stories/0811/60830.html
There is so much wrong with this article, I hardly know where to begin. OK, how about the title? When you have to say someone is staying even though there’s no official reason for him to step down? Hello, we have a problem. Sounds like damage control to me. And why would you want to get rid of someone who failed to pay his own taxes and has made history by presiding over the FIRST EVER downgrade of our countries’ credit rating. No, hang on to that dude; he’s special. And as usual, no facts come forth; no concrete evidence that S&P has been malicious in their actions. It’s the same old blame game. Geithner goes from, ‘it will never happen’ to, ‘it’s S&P’s fault’. It’s always character assassination time. They never own up to any mistakes and never have a plan to fix them since it wasn’t their fault. It was George Bush’s fault I’m certain.
“I think S&P has shown really terrible judgment, and they’ve handled themselves very poorly and they’ve shown a stunning lack of knowledge about basic U.S. fiscal budget math,” Geithner said. “And I think they drew exactly the wrong conclusion from this budget agreement.”
Does this actually work for anyone? Does this guy have a shred of credibility right now? After what he’s accomplished? So he’s going to stick around and help ease jitters. I’d say the market is responding well as I see the current drop at -476 points. Great decision. Come on 2012. Wake up America. We need to dump these guys before it’s too late.
This is the plan?
“[On Friday] it was announced that the unemployment rate is 9.1 percent. The unemployment rate has now been above 9 percent in 25 of the last 27 months. [On Thursday] stocks fell 512 points. Consumer confidence has fallen again as has consumer spending. Manufacturing has slowed to the slowest pace in more than two years. GDP growth is a sickly 1.3 percent. Meanwhile, the national debt has risen to $14.8 trillion. Federal spending has risen to $3.6 trillion — $700 billion more than just three years ago — and continues to rise, despite the fact tax receipts have fallen to $2.2 trillion — $300 billion less than three years ago. [Obama] promised that if Congress passed the $812 billion stimulus bill in 2009, the unemployment rate would be approximately 5.5 percent by November 2012. That would require that between 800,000 and 1,000,000 jobs per month (depending on the labor participation rate) be created between now and election day. Given that over the last quarter we’ve been running between 750,000 to 950,000 jobs per month short of that goal, what are [his] plans to boost the employment rate? [Obama has] announced [he's] going on a Midwest bus tour beginning the week of August 15 to focus on job creation. How many jobs [will his bus tour] create? Isn’t it reasonable for Americans to conclude that [his] jobs-creation program consists primarily of borrowing money, deficit spending, and giving speeches?” –National Review’s Peter Kirsanow
This is Obama’s Presidency
4/19/2011
There is no chance that the U.S. will lose its top credit rating, Geithner said, forcefully disputing the notion that S&P or other ratings services might downgrade U.S. bonds from their current AAA rating. “No risk of that, no risk,” Geithner said on the Fox Business Network. REALLY????
8/4/2011
NEW YORK (CNNMoney) – Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture. The number of Americans using the government’s Supplemental Nutrition Assistance Program (SNAP) — more commonly referred to as food stamps — shot to an all-time high of 45.8 million in May, the USDA reported. That’s up 12% from a year ago, and 34% higher than two years ago.
Submitted by Tyler Durden on 08/05/2011 09:54 -0400
Average Length Of Unemployment Surges To New All Time Record 40.4 Weeks
We already learned that the one biggest red flag in unemployment data had been raised when we found that the labor force participation rate was the lowest since 1984. Now we find that the other critical data point: average length of unemployment, just hit a new all time high of 40.4 weeks in July, up from the previous record of 39.9 in June…
US borrowing tops 100% of GDP: Treasury
Shocking News About The Chevy Volt!
GM Confirms Slow Chevy Volt Sales
By Mark Modica
Created 08/02/2011 – 14:02
Sales of the much-hyped Chevy Volt fell to new lows as did GM share price as July auto sales figures came in. Only 125 Volts were sold during the month of July. Recent reports [1] attributed the slump to supply constraints as GM spokeswoman, Michelle Bunker, was quoted as saying that the Volt was “virtually sold out” and only a “few” were available nationwide. I have confirmed that this statement is not entirely truthful and have gotten clarification from GM through Director of Communications, Greg Martin.
A search of cars.com site showed nearly 500 Chevy Volts listed for sale. I had originally assumed that GM dealers were advertising vehicles that were not actually available for sale, since GM has stated that there were only a “few” Volts available. I decided to call a few dealers within 75 miles of my location to determine what the true situation was. I stopped my research after finding that five of the first six dealers I called had Volts in inventory available for immediate sale. Two of the five dealers even had two each in stock. I can now safely assume that GM is, once again, not being entirely honest with its facts. The demand for the Chevy Volt is not as strong as GM would have us believe.
Martin confirmed that there are Volts available at dealerships. According to Martin, there are 116 new Chevy Volts available for sale to the public at dealerships, plus demo units that can be sold.
While I was discussing the situation, I also questioned recent comments from GM CEO, Dan Akerson, who stated on a CNN interview that GM had 35 to 40 billion dollars of cash on its balance sheets. The latest SEC reports listed current cash and cash equivalents at about 20 billion. Martin suggested waiting until Thursday’s GM quarterly earnings report to see what the number looks like. I find it hard to believe that 15 to 20 billion dollars has materialized since the last earnings report. It is more likely that Mr. Akerson is either being dishonest regarding the true figure or totally uninformed about the financials of the company he manages. Judging from GM’s modus operandi, I would guess that he is not being totally truthful.
Another question that arises is why the media is so gullible when it comes to reporting statements made by GM. The Chevy Volt comments are very easy to verify. It was not hard to get to the truth about the number of Volts available, why does the media spread the unfounded hype for the Chevy Volt? Why would the comment by GM on balance sheet cash go unchecked?
The Chevy Volt will not be a big seller for GM; the car just doesn’t offer enough value to get a large part of the population to purchase one. The few consumers that choose to purchase seem to be satisfied with their decision, that’s great. That doesn’t mean that sales are going to take off just because GM will build them at a faster pace. I have to believe that GM knows this. I just can’t figure out why they continue to play out the hoax that the Volt is going to be a blockbuster for the company. Perhaps they will sell a bunch to the Obama Administration (at a cost to taxpayers) and to GE (headed by Obama crony Jeff Immelt), but beyond that there will not be huge demand.
GM shares are trading at a new low today. This is indicative of the fact that the smart money on Wall Street is not buying into the GM hype. What bothers me most about the misleading media and analysts’ coverage of GM is that the people who will get hurt the most are, once again, the little guys who have no one to look out for their interests. Institutional money managers know better than to buy on the GM hype. At the time of GM’s IPO, some TV networks started a campaign to get all taxpayers to buy into the IPO so that they “could benefit.” The implication was that GM had no where to go but up. Shares from that time are down about 20% and lagging the broader S&P by about 25%. I really have to wonder if there will be some liability for those who have hyped the GM story without proper disclosure that investors should seek advice from an investment adviser before making investment decisions. Particularly if that hype was in any way influenced by GM ad dollars.
Thursday’s earnings report for GM will be closely watched. Analysts should be vigilant for any accounting shenanigans given the history of GM not being entirely truthful with the facts. And if GM shares continue to fall, some hard criticism should be leveled against the Treasury’s decision to continue to risk taxpayer money on its GM gamble. Congress has much to consider investigating as the GM story unfolds.
Mark Modica is an NLPC Associate Fellow.
I Concur
http://paul.senate.gov/?p=press_release&id=280
Open Letter: Why I Oppose the Debt Ceiling Compromise
Aug 1, 2011
WASHINGTON, D.C. - Today Sen. Rand Paul issued an open letter on the subject of the debt ceiling compromise facing the Senate. Below is that letter.
To paraphrase Senator Jim DeMint: When you’re speeding toward the edge of a cliff, you don’t set the cruise control. You stop the car. The current deal to raise the debt ceiling doesn’t stop us from going over the fiscal cliff. At best, it slows us from going over it at 80 mph to going over it at 60 mph.
This plan never balances. The President called for a “balanced approach.” But the American people are calling for a balanced budget.
This deal does nothing to fix the overreaches of both parties over the past few years: Obamacare, TARP, trillion-dollar wars, runaway entitlement spending. They are all cemented into place with this deal, and their legacy will be trillions of dollars in new debt.
The deal that is pending before us now:
- Adds at least $7 trillion to our debt over the next 10 years. The deal purports to “cut” $2.1 trillion, but the “cut” is from a baseline that adds $10 trillion to the debt. This deal, even if all targets are met and the Super Committee wields its mandate – results in a BEST case scenario of still adding more than $7 trillion more in debt over the next 10 years. That is sickening.
- Never, ever balances.
- The Super Committee’s mandate is to add $7 trillion in new debt. Let’s be clear: $2.1 trillion in reductions off a nearly $10 trillion,10-year debt is still more than $7 trillion in debt. The Super Committee limits the constitutional check of the filibuster by expediting passage of bills with a simple majority. The Super Committee is not precluded from any issue, therefore the filibuster could be rendered moot. In addition, the plan harms the possible passage of a Balanced Budget Amendment. Since the goal is never to balance, having the BBA as a “trigger” ensures that the committee will simply report its $1.2 trillion deficit reduction plan and never move to a BBA vote.
- It cuts too slowly. Even if you believe cutting $2.1 trillion out of $10 trillion is a good compromise, surely we can start cutting quickly, say $200 billion-$300 billion per year, right? Wrong. This plan so badly backloads the alleged savings that the cuts are simply meaningless. Why do we believe that the goal of $2.5 trillion over 10 years (that’s an average of $250 billion per year) will EVER be met if the first two years cuts are $20 billion and $50 billion. There is simply no path in this bill even to the meager savings they are alleging will take place.
Buried in the details of this bill is the automatic debt limit increase proposed a few weeks ago. The second installment of the debt ceiling increase is initiated by the President automatically and can only be stopped by a two-thirds vote of Congress. This shifts the Constitutional check on borrowing from Congress to the President and makes it easier to raise the debt ceiling. Despite claims to the contrary, none of the triggers in this bill include withholding the second limit increase.
Credit rating agencies have clearly stated the type of so-called cuts envisioned in this plan will result in our AAA bond rating being downgraded. Ironically then, the only way to avoid our debt being downgraded and the resulting economic problems that stem from that is for this bill to fail.
This plan does not solve our problem. Not even close. I cannot abide the destruction of our economy, therefore I vigorously oppose this deal and I urge my colleagues and the American people to do the same.
Sincerely,
Rand Paul, M.D.
United States Senator
Really? This is where we are?
There are entities out there calling themselves pro-entitlement groups? I have got to be in the Twilight Zone. Cue the music. DO DO DO DO…DO DO DO DO.
“…said Eddie Vale, spokesman for Protect Your Care, a pro-entitlement group.”
Read more: http://www.politico.com/news/stories/0711/60343_Page4.html#ixzz1TmTpx4Tn
In A Nutshell
I love this. To the point.
“Forget all the numbers being tossed around in Washington — the millions and billions and trillions of dollars being taxed, borrowed, printed and spent as the country approaches the Aug. 2 debt-ceiling deadline. … Forget the fact that such ‘entitlements’ as Social Security and Medicare — social-insurance programs that the public long thought to be actuarially sound — have been exposed as little more than legal Ponzi schemes, paying today’s benefits out of tomorrow’s borrowed receipts. Instead, just ask yourself this simple question: When did it become the primary function of the federal government to send millions of Americans checks? For this, in essence, is what the debt-ceiling fight is all about — the inexorable and ultimately fatal growth of the welfare state.” –columnist Michael Walsh
