Gallup Shows Unemployment at 10% for October
In the latest news from the Obama economy, Gallup shows that U.S. unemployment is at 10.1% in October, a sharp increase from September. Being that democrats are about to get hammered in the mid-terms look for the media to do what they can to cover this up.
http://www.gallup.com/poll/143714/Gallup-Finds-Unemployment-Mid-October.aspx
Affirmative Action Housing-The Real Cause of the Economic Meltdown
When you hear democrats speaking about the economy, they do nothing but continue the “blame Bush” line about deregulation and Wall Street along with other nonsense that the media never calls them on. If you want to get back to the real reason the economy is in such bad shape, look no further than the housing market and the banks that were forced by democrats to give loans to people who clearly could not afford them.
Why? Well appeasing poor people and minorities is what keeps democrats in power, regardless of how bad it affects the rest of us hard working Americans who get up everyday, work hard, and do the right thing. If you look back to 2003, Bush even tried to reform the housing market in this area but was blocked by democrats. During the latest “financial reform” of Wall Street there was absolutely no reform of Freddie/Fannie Mae? Why? Again, because of democrats.
Take a look at this video of Democrat Andrew Cuomo admitting how the government used affirmative action to give people loans who could not afford them.
Look Who Wall Street Supports
The new boogie-man being played by the democrats and Obama is Wall Street. This is part of their election year strategy to make Wall Street be the bad guy, and that Obama handing down more government regulations shows him to be the good guy. Now I’m not trying to excuse Wall Street at all, but if you take Obama’s word that Wall Street is “supported” by republicans and the Tea Party, you might want to look at this.
Wall Street supports democrats with their money. That should tell you something right there.
Social Security Cashing In Their IOU’s
If you need another example of why we do not need another government entitlement, look at the situation that Social Security is finally in.
“Not anymore. This year, for the first time since the 1980s, when Congress last overhauled Social Security, the retirement program is projected to pay out more in benefits than it collects in taxes — nearly $29 billion more.
Sounds like a good time to start tapping the nest egg.Too bad the federal government already spent that money over the years on other programs, preferring to borrow from Social Security rather than foreign creditors. In return, the Treasury Department issued a stack of IOUs — in the form of Treasury bonds — which are kept in a nondescript office building just down the street from Parkersburg’s municipal offices.”
What does this basically mean? Well Social Security is broke, and now it has to borrow more money from the government. However, the federal government is already broke too.
The American economy is in great danger, and more debt and more entitlements are not needed!
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Record Budget Deficit in February
Way to go Obama!
“WASHINGTON — The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year’s record for the full year.
The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.
The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.”
