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Showing posts with label US Economy. Show all posts
Showing posts with label US Economy. Show all posts

Wednesday, September 5, 2012

Obama: Incomplete Answer

Paul Ryan Answers the Questions

As the Main Stream Media (MSM) goes after the Romney-Ryan GOP ticket in the final 2 months of the Presidential campaign - some challenging questions are being asked.   If you search www.youtube.com for Paul Ryan speeches, you'll find a fresh approach to answering questions from the media.   Mr. Ryan actually answers questions.    This compares to the Obama approach of dodge the question, change the subject and then blame others for the present problems.  Thus week the question "du jour" has been the famous line from the presidential debate between "one-term President Jimmy Carter" and the challenger, Governor Ronald Reagan:  "Are you better off now than four years ago?".   The Governor of Maryland said "No" earlier this week, until the Democrat party operatives called and told him to "change the answer", which he has dutifully been trying to do since giving his original honest answer.  But the bet answer was from President Obama, who was asked in Colorado Springs to grade his performance with the US economy and responded "incomplete".   Really?

Here is how Paul Ryan responded to the tough round of questions from the CBS news team (who are in Charlotte, NC at the Democrat convention).
    http://www.realclearpolitics.com/video/2012/09/04/paul_ryan_four_years_into_a_presidency_and_its_incomplete.html

Only an academic or silver tongued lawyer would answer the "Are you better off" question as Barak Obama did: "incomplete".    So he dodged the question, attempted to change the subject, and then (as he has been prone to do) blamed others for the poor economy.

The transcript of Obama's "incomplete" grade that he gave himself on the economy:

Dianne Derby: Your party says you inherited a bad situation. You've had three and a half years to fix it. What grade would you give yourself so far for doing that?

President Obama: You know I would say incomplete...but what I would say is the steps that we have taken in saving the auto industry, in making sure that college is more affordable andinvesting in clean energy and science and technology and research, those are all the things that we are going to need to grow over the long term.


So after 3 1/2 years on the job, and the Presidents's policies are not working, he gives himself a grade of "incomplete"?    Looks like it is time to elect a new President!

Monday, November 16, 2009

Federal Deficits Up, State Revenues Down


Federal Deficits Up, State Revenues Down
The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced today.
During the month, the government racked up $311 billion in outlays compared with $135 billion in receipts.  (Blogger note:  This means the US Gov’t spent 225% of October tax receipts!  Clearly a dangerous level of out of control spending.)
The October numbers mark the first month for the new fiscal year after the U.S. wrapped up the 2009 fiscal year that ended on September 30 with a record-high $1.4 trillion budget deficit due to increased government spending to stop the recession and the financial crisis. The final deficit for the 2009 fiscal year was equal to 10 percent of the nation's GDP, the highest shortfall relative to GDP since 1945, the final year of World War II.  www.abcnews.com
Meanwhile, according to the Rockefellow Instititute, which has ongoing research on State budgets (by state and region) is reporting record drops in tax revenues, including declines in 49 states.  www.rockinst.org  
In the RI report of October 15, 2009 (for 2nd quarter 2009);  “Both nominal and inflation adjusted figures indicate that the second quarter of 2009 marked the largest decline in state tax collections at least since 1963. The same is true for combined state and local tax collections, which declined by 12.2 percent in nominal terms.
Second quarter revenues fell by amounts unseen in at least five decades. Total state tax revenue in the second quarter of 2009 declined by 16.6 percent relative to a year ago, before adjustments. The income tax was down by 27.5 percent, the sales tax was down by 9.5 percent, and while the corporate income tax increased by 2.9 percent.
At the same time, in the Rocky Mountain region (Colorado, Idaho, Montana & Utah), personal withholding state tax collections were off 7.3%, while in the Southwest Region (Arizona, NM, Oklahoma) personal withholding declined 10.9%.     Estimated state tax payments (2009 vs 2009) for the April to June 2009 period (2nd quarter) were down 44% in Colorado and 44.9% in Arizona.    Across the US, state estimated payments (taxes) were down 32.3% (median)”   Lucy Dadayan & Don Boyd, www.rockinst.org 
States are being forced to cut spending by 5% to 15% (year over year), as they are unable to deficit spend (unlike the undisciplined Federal Government).   
According to the recent Rasmussen Reports, the US economy is at the top of the list of Importance of Issues to the American people.     Not health care  (#3), or the war in Iraq (#8).    www.rasmussenreports.com  
So what to do next?   Work with the US private sector, with the business community and small business to create a better environment for business in the United States.   Stop the health care bill, and start over with a bi-partisan approach. Put climate change legislation through an economic impact analysis, before passage of any bill.  Cut capital gains taxes for one year (or reduce down to 5% or 10%) and reduce corporate income tax (now the US is the 2nd highest in the world). Really address unnecessary Federal regulations, mandates and laws that adversely impact small business and tamp down innovation.  Finally, the hardest task of all, slash Federal government spending, programs and mandates.    Unless the Federal government is put on an austere financial diet, the US risks becoming a third world debtor nation, beholden to Far East (China) and Middle East sovereign wealth funds and unfriendly governments.
© 2009, Jasper Welch, Four Corners Media, www.jasperwelch.org

Monday, March 16, 2009

Is Barack Obama Competent to Govern?

Is Barack Obama Competent to Govern?

Obama Cabinet appointees who haven’t paid their taxes.   The Prime Minister of the most trusted US ally (Great Britain) is mis-handled by the White House.   The pork-u-lus Federal Stimulus bill waits 4 days to be signed, as the President is out of town, even though the world is told that the bill should be urgently signed.    The Dem operatives in the White House and DNC decide that Rush Limbaugh is public enemy #1.   The economy continues to fade and struggle, despite the Obama administration attempts to fix it with new policies.     Expanded health care, more government regulations, increased government spending, staggering Federal deficits, and questions from foreign governments on US debt.   All of these actions (or inaction) seem to indicate that the new President may be in over his head when is comes to governing.    Speaker Pelosi and Senate Leader Reid are known to be weak Congressional leaders, and combined with the rookie Obama administration, no one is quite in charge when it comes to really getting the economy back on track and for government to maintain supporting role that it has historically played.

            Even the Democrats and Obama supporters appear to be worried.   From the New York Daily News, in a column by Micheal Goodwin (March 15, 2009)

            “Not long ago, after a string of especially bad days for the Obama administration, a veteran Democratic pol approached me with a pained look on his face and asked, "Do you think they know what they're doing?"   The question caught me off guard because the man is a well-known Obama supporter. As we talked, I quickly realized his asking suggested his own considerable doubts.  Yes, it's early, but an eerily familiar feeling is spreading across party lines and seeping into the national conversation. It's a nagging doubt about the competency of the White House.”

For a direct link to the NY Daily News editorial  www.nydailynews.com/opinions/2009/03/15/2009-03-15_more_than_a_bad_day_worries_grow_that_ba.html

In an editorial in the Christian Science Monitor www.csmonitor.com , Linda Fieldmann writes on March 11, 2009:

“All the while, the nation remains gripped by its worst economic crisis in decades, and with no end in sight, the topic du jour has become: Is Obama trying to do too much?            The Obama administration itself has not hidden the fact that it sees a limited window to enact its agenda, almost like a game of “beat the clock.” As long as Obama’s job approval ratings are comfortably high – currently in the 60s in major polls – he has the political capital to address the pent-up demand for change that is inevitable when the opposition party takes over from an unpopular previous administration.  But, there’s only so much a White House and Congress can accomplish, given the deliberative nature of the process, and even members of Obama’s own party are raising warning flags about the magnitude of the new president’s agenda.”

For a direct link: http://features.csmonitor.com/politics/2009/03/11/is-obama-taking-on-too-much/

Dave Krugman, Op-Ed columnist for the liberal NY Times  www.nytimes.com writes on March 6, 2009:   “Many analysts agree. But among people I talk to there's a growing sense of frustration, even panic, over Mr. Obama's failure to match his words with deeds. The reality is that when it comes to dealing with the banks, the Obama administration is dithering. Policy is stuck in a holding pattern.... Why do officials keep offering plans that nobody else finds credible? Because somehow, top officials in the Obama administration and at the Federal Reserve have convinced themselves that troubled assets, often referred to these days as "toxic waste," are really worth much more than anyone is actually willing to pay for them - and that if these assets were properly priced, all our troubles would go away.”

Finally, from the White House Press Corps web site  www.whitehousepresscorps.org  where the daily highlights between Mr. Gibbs (Obama press secretary) and the national press is featured daily.     The question of Friday March 13, 2009:

Question (by Jake) “Just as a quick follow-up, you guys have obviously started a campaign of trying to build more confidence in the economy and in the decisions that you guys have made. Can you just walk us through a little bit how this decision was made -- for the President's new language and Larry Summers' new language, talking about the economy and the investments you guys are making?”     Blogger translation:  You guys in the White House keep trying to change the conversation or campaign rhetoric, in an attempt to get the economy rolling again?   How did you decide?    i.e. Does anyone know what they are doing at the White House?

What we are seeing is “on the job training” with an inexperienced President, confident in his public opinion polls and protected by the White House Staff, trying to get a handle on the economy, while pushing his left leaning agenda items all at the same time.   And the result: mixed messages, a nervous business community, an American public that can see that their new President is in over his head, and a Congress that figures now is the time for the Majority (Democrats) to push every pet project, program and agenda they can.

The two times in recent US history a Democrat President tried to govern from the left, we experienced the policy fiascos of Jimmy Carter (gridlock, due to so many White House proposals) and a Republican resurgence in reaction to President Clinton’s health(s)care proposals and weakening of the US military.   How will the American people respond to President Obama as he moves as fast as he can to the left, in terms of governance?

We are beginning to find out, as the national debt skyrockets, the US government rapidly expands and personal liberties are being infringed upon.   A number of Americans are feeling uneasy and wondering just exactly what is going to happen next?  

© Four Corners Media, Jasper Welch   www.jasperwelch.org