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Why US Economy is Flashing Conflicting Signals – Yahoo! Finance

We will not get an accurate picture of our economy until AFTER this year’s presidential election. The biased news media will continue to spin the facts and downplay negative numbers, I’ll leave it up to you to decide the reason why. Here’s a recent story of a startled media by the own reality they have created to fool the American voter.

WASHINGTON (AP) — Anyone puzzled by the most recent U.S. economic data has reason for feeling so: The numbers sketch a sometimes contradictory picture of the economy.

We’ve learned that: Consumers are more confident but aren’t spending much. Fewer people are losing jobs, but not many are being hired. Home and stock prices are up, but workers’ pay is trailing inflation. Auto sales have jumped, but manufacturing is faltering. This is what an economy stuck in a slow-growth rut can look like, and it’s a focal point of the presidential campaign. The U.S. economy grew at a scant 1.3 percent annual rate in the April-June quarter — too weak to reduce high unemployment. And most economists foresee little if any improvement the rest of the year.

Read the Rest @ Why US economy is flashing conflicting signals – Yahoo! Finance.


Obama’s $5.2 Trillion Lie

The President thinks the American people must be deaf dumb and blind, so he will continue making up numbers and blaming Bush for everything including his own spending. The bias news media will not make him eat his words or bash him for lying because they are in his pocket, instead all we get is one lousy article because a third party decided to look into his claim. But of course, the mainstream news media will not pick this story up. According to the President’s delusional lies, he is only responsible for $520 billion of the $5.2 trillion deficits that can be solely attributed to his administration! America, do not prove him right. Are we as deaf dumb and blind as he thinks? Now, on to the story, there’s a link to the full story after the excerpt….

President Obama is falsely claiming that his administration’s policies are responsible for “about 10 percent” of the deficits “over the last four years.” The cumulative deficit during that time is nearly $5.2 trillion. Obama signed two bills — the 2009 stimulus and the 2010 tax cut — that alone cost $1.6 trillion during that time, or nearly a third of the cumulative four-year deficit.

How could he have been so wrong? Although he said “the last four years,” the administration tells us that he was referring to a Treasury analysis of a 10-year period from 2002 to 2011 — which includes all eight years of the Bush administration and excludes the 2012 fiscal year, which ends Sept. 30 with a $1.17 trillion deficit.

It’s true that Obama “inherited the biggest deficit in our history,” as he said on CBS. By the time Obama took office in January 2009, the nonpartisan Congressional Budget Office had already estimated that increased spending and decreased revenues would result in a $1.2 trillion deficit for fiscal year 2009, which began Oct. 1, 2008. In a detailed analysis of fiscal year 2009, we found that Obama was responsible for adding at most $203 billion to the deficit, which in the end topped $1.4 trillion that year.

But that was just the first of four years of trillion-plus deficits. The last three budgets fall squarely under Obama. And, during that time, the federal government ran up deficits of $1.3 trillion in 2010, $1.3 trillion in 2011, and about $1.2 trillion in the fiscal year that ends Sept. 30 — for a total of nearly $5.2 trillion in deficit spending.

Now, affixing responsibility (i.e., blame) for mega-deficits and the ballooning federal debt is filled with ideological landmines. Obama doesn’t take responsibility for war spending, for example, even though he continued the spending and, in fact, increased U.S. troop levels in Afghanistan. He also doesn’t want to take the blame for the expense of creating the Medicare prescription drug program — although his federal health care law increased funding for it. (The law will gradually close the notorious doughnut hole that caused some seniors to pay nearly $2,000 in prescription drug costs because of a gap in coverage.)

Read the Rest @ Obama’s Deficit Dodge – Yahoo! News.

Chavez to Obama: I’d Vote for You, and You for Me

CARACAS (Reuters) – With both presidents facing tight re-election fights, Venezuela’s Hugo Chavez gave a surprise endorsement to Barack Obama on Sunday – and said the U.S. leader no doubt felt the same.

“I hope this doesn’t harm Obama, but if I was from the United States, I’d vote for Obama,” the socialist Chavez said of a man he first reached out to in 2009 but to whom he has since generally been insulting. Chavez is running for a new six-year term against opposition challenger Henrique Capriles, while Obama seeks re-election in November against Republican candidate Mitt Romney. Venezuela’s election is next weekend.

“Obama is a good guy … I think that if Obama was from Barlovento or some Caracas neighbourhood, he’d vote for Chavez,” the president told state TV, referring to a poor coastal town known for the African roots of its population. Chavez is one of the world’s most strident critics of Washington and his 14 years in office have been characterized by diplomatic spats and insults at the White House.

Read The Rest @ Chavez to Obama: I’d vote for you, and you for me – Yahoo! News.

Polls: In the End, Its Who Shows Up That Counts

Enough with these polls already! For the large part,  it’s who shows up in the end that matters. And now we have to hear the media explain why its justifiable to question more democrats than republicans for most of these polls. First, a story about the the lopsided amount of democrats being surveyed for most of the daily polls you hear about on the news and online…

WASHINGTON (Reuters) – It has become the new battle cry for Republicans: All the polls showing Mitt Romney trailing by big margins are just wrong because pollsters are interviewing too many Democrats…. While pollsters say the Republicans are griping because they are losing, the kernel of the conservatives’ complaints – that pollsters frequently survey more Democrats than Republicans – is true….

Read more

Anti-Islam Filmmaker Held at LA Federal Jail

LOS ANGELES (Reuters) – The California man behind an anti-Islam film that stoked violent protests across the Muslim world was being held at a federal high-rise jail in downtown Los Angeles on Friday over possible probation violations, a prison official said.

Federal officials, citing safety concerns, were tight-lipped about the conditions of Nakoula Basseley Nakoula’s confinement, including whether he was being held with the general population or was isolated from other inmates.

via Anti-Islam filmmaker held at Los Angeles federal jail – Yahoo! News.

Obama Bucks, Phone, Gas & Mortgage

US Postal Service To Default on Second $5B Payment

WASHINGTON (AP) — The U.S. Postal Service, on the brink of default on a second multibillion-dollar payment it can’t afford to pay, is sounding a new cautionary note that having squeezed out all the cost savings within its power, the mail agency’s viability now lies almost entirely with Congress.

In an interview, Postmaster General Patrick Donahoe said the mail agency will be forced to miss the $5.6 billion payment due to the Treasury on Sunday, its second default in as many months. Congress has left Washington until after the November elections, without approving a postal fix.

For more than a year, the Postal Service has been seeking legislation that would allow it to eliminate Saturday mail delivery and reduce its $5 billion annual payment for future retiree health benefits. Since the House failed to act, the post office says it’s been seeking to reassure anxious customers that service will not be disrupted, even with cash levels running perilously low.

Read the Rest, US Postal Service to default on second $5B payment – Yahoo! News.

New Obama ad calls for ‘economic patriotism’ –

“As the race for the White House enters its final phase, President Obama is making an extended appeal to voters’ “economic patriotism” in a new two-minute television ad set to debut in swing states. Speaking directly to the camera, Obama tells voters that he believes the nation is “moving forward again,” after reminding them of the dire economic situation he encountered upon taking office. He acknowledges that there is more to be done, but argues that the path offered by his Republican challenger is not the right one.”

Read the Rest, New Obama ad calls for ‘economic patriotism’ –

So, “economic patriotism” is the Administration’s new buzzword huh. His campaign should think twice about that one. Under his watch the national debt will have ballooned to over $16 trillion, that is $6 trillion in 4 years. It took Bush 8 years to raise it $4.9 trillion. Is that what he considers economic patriotism?

France Unveils a Budget with 75% Tax

Oh boy, we will soon have another example of why socialist policies and their ignorant economic models do not work. The problem with socialism is that eventually you run out of other people’s money. Capitalism is not an ism, because it’s what people do if they are left alone. Socialism is the true myth because it must be imposed on individuals, at any cost. Let the exodus out of France begin. Check out the excerpt below….

PARIS AP — The French government presented a budget Friday that was heavy on taxes — including a controversial 75 percent income rate on high earners — but which critics said lacked fundamental reforms that could jumpstart economic growth… The French economy, the second largest among the 17 countries that use the euro, has not grown for three straight quarters, the national statistics agency confirmed Friday. Unemployment has been on the rise for more than a year and stands at 10.2 percent….

Among the other measures included are: a new income tax level at 45 percent for those making more than $200,000, an increase of capital gains taxes to bring them more in line with how salaries are taxed, and a cap on certain deductions for large companies on their income taxes.

Read the Rest, France unveils a budget heavy on taxes – Yahoo! News.

Data shows Obama may be a job creator after all – Yahoo! Finance

Gotta love the headline above, personally picked out by the bias news media. They leave out the fact that the US population grew by over 6 million net people since 2009, but don’t worry, he’s got it covered, we gained about 125,000 net jobs since then.

“In the year following Obama’s inauguration, the U.S. economy lost about 4.3 million jobs. But new figures released Thursday show 4.4 million jobs have been added back since then…

If true, those figures mean the economy has recovered 4.4 million jobs since early 2010 — enough to fully account for the jobs lost in Obama’s first term. In fact, Obama would be ahead by exactly 125,000 jobs.”

via Data shows Obama may be a job creator after all – Yahoo! Finance.

The Libya Debacle –

In his United Nations speech on Tuesday, President Obama talked about the September 11 attack on the U.S. consulate in Libya and declared that “there should be no doubt that we will be relentless in tracking down the killers and bringing them to justice.” What he didn’t say is how relentless he’ll be in tracking down the security lapses and intelligence failures that contributed to the murders. Let’s say there’s some doubt about that.

None of the initial explanations offered by the White House and State Department since the assault on the Benghazi consulate has held up. First the Administration blamed protests provoked by an amateurish anti-Islam clip posted on YouTube. Cue Susan Rice, the U.N. Ambassador and leading candidate for Secretary of State in a second Obama term: “What happened initially was that it was a spontaneous reaction . . . as a consequence of the video, that people gathered outside the embassy and then it grew very violent.”

Read the Rest: The Libya Debacle –

15 days after Benghazi attack, FBI still investigating from afar –

(CNN) — More than two weeks after four Americans — including the U.S. ambassador to Libya — were killed in an attack on the U.S. Consulate in Benghazi, FBI agents have not yet been granted access to investigate in the eastern Libyan city, and the crime scene has not been secured, sources said.

“They’ve gotten as far as Tripoli now, but they’ve never gotten to Benghazi,” CNN National Security Analyst Fran Townsend said Wednesday, citing senior law enforcement officials.

Last Thursday, U.S. Secretary of State Hillary Clinton told reporters that an FBI team had reached Libya earlier in the week.

Read the Rest:  15 days after Benghazi attack, FBI still investigating from afar –

Propaganda at Work

Today’s Lesson: When President Obama misspeaks its excused as a “flub”, when Romney misspeaks its attacked as a “gaffe”.  See excerpt below for an example.

“I want to see us export more jobs,” Obama said, before catching himself quickly and saying, “Export more products.”

The article then goes on to justify …President Barack Obama flubbed a line during a campaign speech on Wednesday, mistakenly saying he wanted to export U.S. jobs, before correcting himself and jokingly blaming Republican rival Mitt Romney.

Read the Rest,  Obama flubs line on jobs, says he’s “channeling” Romney – Yahoo! News

We Have Clueless Voters, But Expect A Healthy Society?

I consistently say that the major problem with politics is not necessarily the quality of our candidates, because one is clearly a better choice when you consider the problems we face today, no, the biggest problem is the lack of knowledge amongst our voters about basic facts and figures. The news media is partly to blame because the lack of actual accountability for their reporting is tragic. Their manipulation of information in favor of flashy sensationalized headlines over substance will bring this country to its economic end sooner than later. Just because the media skews the facts does not mean we have to fall for it.

This brings me to the main culprit for our malfunctioning political system, the voter. Today’s typical voter runs from facts instead of towards them, facts have become their kryptonyte. They would rather be ignorant than question their pre programmed beliefs and get a headache, or even worse,  find out they’ve been wrong for years. Their complete disregard for what is really happening around them and how our system is designed to work only contributes to the downfall of a country that they have taken for granted for way too long. The Howard Stern Man on the Street segment above is a perfect example of what is wrong with our political system.

History works in cycles. When things are going bad, the people realize it and self correct. Next they go well for a while, so well eventually that people get lazy and irresponsible, then they start to go bad once again. Will we self correct this fall? Stop being part of the problem and be part of the solution.

The Great California Exodus –

“The Golden State’s fastest-growing entity is government and its biggest product is red tape. The first thing that comes to many American minds when you mention California isn’t Hollywood or tanned girls on a beach, but Greece. Many progressives in California take that as a compliment since Greeks are ostensibly happier. But as Mr. Kotkin notes, Californians are increasingly pursuing happiness elsewhere.

Nearly four million more people have left the Golden State in the last two decades than have come from other states. This is a sharp reversal from the 1980s, when 100,000 more Americans were settling in California each year than were leaving. According to Mr. Kotkin, most of those leaving are between the ages of 5 and 14 or 34 to 45. In other words, young families…

“Basically, if you don’t own a piece of Facebook or Google and you haven’t robbed a bank and don’t have rich parents, then your chances of being able to buy a house or raise a family in the Bay Area or in most of coastal California is pretty weak,” says Mr. Kotkin.

While many middle-class families have moved inland, those regions don’t have the same allure or amenities as the coast. People might as well move to Nevada or Texas, where housing and everything else is cheaper and there’s no income tax.”

Read the Rest, The Weekend Interview with Joel Kotkin: The Great California Exodus –