Friday, November 26, 2010

Real GDP Grows For 12th Straight Quarter

One should also note that in the very first quarter that President Obama was in office, the effects of the stimulus began to reverse the free fall he inherited from George W. Bush. In the ending of George W. Bush's Great Recession, we see the same pattern repeated: Republicans cause recessions, Democrats clean them up (see History of Recessions).

It took 6 months for President Obama's economic and tax policies to return GDP to positive territory. If we as a nation want to avoid the painful recovery from the climb out of economic holes we have to quit electing those digging them.

Saturday, November 20, 2010

-Sarah Palin Rips JFK's famous religion speech, saying he "seemed to want to run away" from his faith."-

in her new book, "America, by heart."

This coming from she who ran away from her commitment to the people of Alaska. The 1/2 term Alaskan Chillbilly could learn a thing or two about persistence and courage by studying the life history of John F. Kennedy.

Example: after the well known heroics of JFK on PT 109, while recuperating from serious back injuries, he volunteered to rescue stranded sailors. The stranded sailors were at an island so remote that if the mission were successful in reaching and rescuing the sailors that Kennedy's PT boat would not have enough fuel to make the trip back to base. He volunteered, rescued the sailors, and brought everyone back alive.

Dopey Dan Quayle was foolish enough to compare himself to JFK but leave it to Snarky Sarah, the vicious grifter from the land of the midnight sun, to have the gall to question the faith of JFK. If she was required to meet truth in advertising standards in this work of fiction she should have named her book, "The Sisterhood of the Traveling Pants On Fire."

mike kohr

Monday, November 15, 2010

Freshman Republican Pitches A Fit When He Finds Out His Government Health Care Does Not Start Until January 2011.

Maryland physician Andy Harris (R) just soundly defeated Frank Kratovil, one of the most endangered Democrats on Capitol Hill going into the November election. And he did it in large part by railing against 'Obamacare' and pledging to repeal Health Care Reform. But when he showed on Capitol Hill today for an orientation for incoming members of Congress and their staffs, he had a different question: Where's my government health care?

According to Glenn Thrush of Politico, Harris created a stir at the orientation meeting by demanding to know why he had to wait a month after he was sworn in in January for his government-subsidized health care to kick in. After responding in a huff, he even asked if there was some way he could buy into the government care in advance, seemingly thinking there might be a government program similar to the so-called 'public option' championed by progressive Democrats in 2009.

According to an unnamed congressional staffer quoted by Thrush, Harris stood up at the meeting "and asked the two ladies who were answering questions why it had to take so long, what he would do without 28 days of health care."

During the campaign, Harris told voters, "the answer to the ever-rising cost of insurance is not the expansion of government-run or government-mandated insurance but, instead, common-sense market based solutions that ensure decisions are made by patients and their doctors."
This on the first day of orientation! It's going to be an interesting 2 years. Can't wait until they get swore in.

Sunday, November 14, 2010

Republicans Set To Kill Middle Class Hostage In Their Quest To Preserve +$100,00.00 Give-A-Ways To Millionaires

As the George W. Bush tax give-a-ways to the rich are set to expire there are two proposals on the table. Republicans are unwilling to allow President Obama to give tax relief to working class people unless the deficit exploding tax give-a-ways to millionaires are preserved.

Both the Republican AND Democrat plans give tax cuts to all income brackets. But as the graphic below demonstrates the Republican plan gives massive breaks to the richest 5% of Americans. With no spending cuts to offset this give-a-way this plan will add over $700 billion to the national debt. It is this kind of Voo Doo Economics that have led to the last 3 Republican Presidents adding $9.2 trillion to the National Debt since 1981. Advocates of Trickle Down Economics have promised increased job creation and increased tax revenues, two promises that have NEVER been fulfilled (see also National Debt & Job Creation).

-double click graphic for larger image-

Thursday, November 11, 2010

We Are Witnessing The Biggest One-Year Reduction In Deficit Reduction In American History

DEFICIT SHRINKS FROM LAST YEAR'S RECORD.... Deficit hawks probably won't be pleased with the total, but they should at least be pleased with the direction.

The federal government budget deficit shrank in fiscal 2010, but the big gap was only $122 billion lower than the record high set a year ago.

The U.S. spent $1.294 trillion more than it collected in the fiscal year that ended Sept. 30, the Treasury Department said Friday.

The deficit amounted to 8.9% of gross domestic product. That's down from fiscal 2009, when the deficit of $1.416 trillion was 10.0% of GDP.

Spending fell and revenues rose in fiscal 2010 as the economy recovered from the deep recession that contributed to the nation's troubled fiscal condition.

If this sounds familiar, it's because the Congressional Budget Office reported on its estimate of the federal budget deficit for FY2010 would just last week. Today's Treasury report is the official deficit tally, though as it turns out, the CBO projection was almost on the nose.

The $1.294 trillion shortfall is smaller than last year's total; it's slightly lower than the deficit President Obama inherited from his predecessor; and the final figure was smaller than projections made by the administration and the CBO earlier this year.

Want to have some fun? Ask your favorite Tea Partier whether the deficit they claim to care so much about is higher or lower now than when Obama took office. They won't care for the answer, but it's true.

What's more, as Stan Collender recently noted, the $122 billion improvement on the deficit "is the biggest one-year nominal drop in the deficit that has ever occurred." We probably won't see headlines blaring, "U.S. achieves biggest one-year deficit reduction in American history," but that just happens to be the case.

read full article:
by: Steve Benen

----------------------pop quiz----------------------------------------------
Which of the following will make up a majority of the deficit in the next decade?

A) Social Security
B) Medicare
C) The National Park Service
E) George Bush's tax cuts

Give up? The answer is E -- George Bush's tax breaks for the rich.
Of course the Debt Commission focussed all its concerns on A), B),C), and D). They would rather turn Medicare into a voucher system, surrender "fair and balanced" news reporting to Fox News, decimate the National Park System and have working Americans drop dead on the job from old age.

Tuesday, November 2, 2010

Those that fail to learn from history are doomed to repeat it. I remember.

Monday, November 1, 2010