Economy

Bank CEO: 1000 Banks to Fail

Published August 28, 2009

Is this that “hope and change” you wanted?

The US banking system will lose some 1,000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May.

Link – http://www.cnbc.com/id/32581463

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Cash for Clunkers Broke – Another Gov. Program Failed

Published July 31, 2009

If you need any other proof that the government cannot do anything right, take a look at their “cash for clunkers” program. This was a wasteful idea to begin with, by giving people up to $4500 for their old vehicles. Once again, the tax payer had to shell out to help your neighbor buy a new car. As with most government programs, this one is another miserable failure.

“The U.S. government’s $1 billion “cash for clunkers” program to spur new car sales ran through the money six days after it began, Senator Debbie Stabenow said.

Stabenow, a Michigan Democrat, and other lawmakers called for an infusion of taxpayer money to subsidize more new-vehicle purchases in the effort to revive dealerships and automakers while getting older, less fuel-efficient vehicles off the road. “

Of course running out of money doesn’t mean they will stop, it just means they will find more of our tax payer dollars to fund this useless program. These people can’t even manage a simple idea such as this, do you really want them controlling your healthcare?

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Federal Budget Deficit Hits $1 Trillion

Published July 13, 2009

Obama has accomplished another milestone today in his Presidency, bringing the federal budget deficit to a record $1 Trillion.

WASHINGTON — Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time ever.

The imbalance is intensifying fears about higher interest rates and inflation, and already pressuring the value of the dollar.

The Treasury Department says the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to nearly $1.1 trillion.

More of that “change” we can believe in?

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So Where Are All Those New Jobs, Obama?

Published July 2, 2009

We are unfortunately 6 months into the Obama Presidency, and it seems people are finally beginning to understand what a mistake it was to elect a “community organizer” during this time of crisis. In just this short period of time, Obama has out-spent 8 years of Bush in one bill, and now is pushing for Trillions in new entitlements that the country simply cannot afford.

But lets go back a few months to the so-called “stimulus” bill, which once again, cost the American taxpayer an unfathomable amount of money. Obama and his fellow democrats told us the stimulus was necessary for economic recover, and that it would create jobs and turn the economy around. People with any amount of common sense realized the stimulus was a waste of money, and that the millions of dollars that were put in to quietly fund Obama’s far-left groups like ACORN made this bill a total sham. That didn’t stop them from ramming it through without even reading much of it.

So here we are, and the latest job figures from June are out, and we see the U.S. has lost nearly another 500,000 jobs, and that number is expected to rise even higher. Many states are in double-digit unemployment, and the U.S. percentage is effectively there already. I remember several years ago when unemployment was at 4.5%, and democrats were saying it was the worst economy since Hoover. Where are they now? I know where, they are still trying to blame Bush.

The United States has lost millions of jobs since he took office, but you never seem to hear that in the media. The stimulus has not worked, and has actually had a negative effect on the economy. There are not many signs of the economy turning around anytime soon, can it last until we get someone in charge who knows what they are doing?

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Posted in Barack Obama, Democrat, Domestic, Economy | 4 Comments

Partisan Slant Towards Chrysler Closings?

Published May 28, 2009

It’s an interesting theory, and judging by the history of thug tactics by Obama, it would not surprise me one bit. The investigation by bloggers such as Michelle Malkin is still ongoing, but it’s already revealing some interesting claims that dealerships that are being spared from closing, have strong ties to democrats.

Obviously, if the Obama administration would be transparent about the closings this would not be necessary. However, as we have pointed out several times before, Obama’s “transparency” is selective at best.

Here are some links about the subject:

If you are a dealership being closed and believe it’s targeted for political reasons, or if you have info about a closing, feel free to contact us.

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Posted in Barack Obama, Democrat, Domestic, Economy | 1 Comment

Dodd Trying to Ignore AIG Bonus Scandal

Published March 31, 2009

In case you ever need an example of the hypocrisy of democrats and their fake “outrage” about things like AIG bonuses, just take a look at this.

“An aide to U.S. Sen. Chris Dodd dismissed as “old news” a report Monday that said the Connecticut Democrat collected more than $160,000 from American International Group employees and their spouses after a top executive urged employees to give.

The Washington Times reported that in a November 2006 e-mail, the head of the troubled Financial Products unit told employees that Dodd was “next in line” to chair the Senate Banking, Housing and Urban Affairs Committee, where he would “have the opportunity to set the committee’s agenda on issues critical to the financial services industry.”

See, companies like AIG are good when they donate hundreds of thousands of dollars to campaigns, but when they are needed for a political stage event, they are tossed under the bus.

Dodd and Frank are two of the most corrupt and inept politicians in Washington today. We can only hope at election time people will remember this.

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Obama Steps Into Private Sector Business

Published March 30, 2009

Well it seems Odumbo can’t keep his hands off private business. With the threat of withholding funding, the Obama administration asked GM CEO Rick Wagoner to step down.

This is another dangerous move by Obama, and it all could have been avoided by not bailing our private business in the first place. It’s time for GM and the other car manufacturers to go into bankruptcy if they cannot restructure their business on their own.

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AIG “Outrage” Was Staged

Published March 21, 2009

This whole “outrage” over the AIG bonuses was staged. Obama and the democrats knew about these bonuses for weeks and months beforehand, and Dodd specifically knew about them, and tried to lie about it. They even rushed a 1000+ page bill, which most did not even read, to illegally tax the AIG employees who received bonuses.

But continuing through this week it was clearly obvious that the real intention here was to stage this outrage in an effort to accomplish a few things.

More anti-business sentiment. It’s no secret democrats are no friends to business, unless of course they are directly benefiting from kickbacks, but being against successful Americans is all part of their class warfare strategy they have played for decades. This week was the perfect opportunity to grand stand in front of the cameras and show how "evil" these people were for accepting bonuses. Unfortunately, it seemed to have worked, as employees are being threatened, and even left-wing groups are holding bus tours of AIG employees homes.
Limiting Executive Pay. Another part of this ploy was to use it as an excuse to get the government more involved in overseeing the pay and perks that businesses pay. It’s already starting, and don’t think for one second this only applies to businesses that receive bailout money. This is more of Obama’s socialist agenda coming into play.
Gateway to higher taxes. In response to their fake outrage, they passed an illegal bill taxing the bonuses over 90%. Once again, don’t think this applies only to AIG and companies receiving bailout money. This was another bill passed without scrutiny and oversight, all in the name of this “outrage”.

Obama, Pelosi, and Reid are the three most corrupt politicians in office today, followed closely by Dodd and Frank. American prosperity is being taken away more and more each week, and the media is fully complacent in it. Don’t believe any of this fake outrage, it’s all part of the socialist scheme they are trying to pull over America. We need to stop it now!

Posted in Barack Obama, Democrat, Economy | 2 Comments

Economists Give Obama a Failing Grade

Published March 12, 2009

How long will it take America to start saying, “what did we do”?

“President Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey.

Their assessment stands in stark contrast with Obama’s popularity with the public, with a recent Wall Street Journal/NBC poll giving him a 60 percent approval rating. But a majority of the 49 economists polled is dissatisfied with the administration’s economic policies.

On average, they gave the president a mark of 59 out of 100, and although there was a broad range of marks, 42 percent of respondents graded Obama below 60. Geithner fared even worse, with an average grade of 51. Federal Reserve Chairman Ben Bernanke scored better, with an average 71.

“The Obama team has blown it,” said David Resler of Nomura Securities.”

Link

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