obama along with a willing media, are daily calling out a list of things that will happen when a mere $85 billion worth of budget cuts takes place in 2013 due to the agreement he signed into law and was gleefully for back in November 2011.
This may be a brief rally for the markets, but a long term problem for our freedom and financial future. The GOP failed us. Moderates and RINOs must be tossed out. No quarter given, no conversation, no compromises. The USA is NOT Europe and we will not let our elected official act like Europeans. We will take our country back, we will stand for and with our Constitution.
WASHINGTON- While the tax package that Congress passed New Year’s Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013.
That’s because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. In 2012, that 2-percentage-point cut in the payroll tax was worth about $1,000 to a worker making $50,000 a year.
In the past 90 days, it has posted 6,125 regulations and notices – an average of 68 a day.
The website allows visitors to find and comment on proposed regulations and related documents published by the U.S. federal government. “Help improve Federal regulations by submitting your comments,” the website says.
The thousands of entries run the gamut from meeting notifications to fee schedules to actual rules and proposed rule changes.
In recent days, for example, the EPA posted a proposed rule involving volatile organic compound emissions from architectural coatings: “We are approving a local rule that regulates these emission sources under the Clean Air Act (CAA or the Act),” the proposed rule states. “We are taking comments on this proposal and plan to follow with a final action.”
Unemployment for the youth is extremely high, and it will only get higher if obama is allowed to serve another 4 years as our president…Young people , white, black and Hispanic, you may think obama is cool, but you can’t buy your cars and gas and stylish clothes with coolness, it takes a job, think twice before you pull that lever on November 6. Romney may be a square to you but he will create policy that will allow businesses to create jobs for you and that is what being a President is all about.
Pollster John Zogby told Secrets this week that support among younger voters aged 18-29 is down for President Obama and the new October unemployment rates announced Friday morning may explain why.
According to the government, the overall youth unemployment rate is 12 percent. But for younger black voters, a critical Obama support block, the rate is a staggering 21.4 percent. And for Hispanic youth voters it is 13.4 percent.
According to the youth-focused group Generation Opportunity, which pulled the youth figures out of the overall labor numbers, the picture might be worse.
“The declining labor force participation rate has created an additional 1.7 million young adults that are not counted as ‘unemployed’ by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs,” they said.
Generation Opportunity President Paul T. Conway, said “For the president, the failure to address young adult unemployment and to understand the negative impact on their hopes will, in retrospect, be seen as the reason why he lost support among millions of who once believed in his ability to affect lasting change.”
According to the latest survey of government waste put out by Sen. Tom Coburn, R-Okla.
Known simply as the Waste Book, the report is a watchlist of eye-opening expenditures, which Coburn blames on a “let them eat caviar” attitude in Washington — at a time when “23 million of our fellow Americans do not have good jobs,” Coburn notes.
2012 Waste Book report details 100 examples totaling nearly $19 billion. Coburn acknowledges that’s a drop in the bucket in contrast to the overall federal deficit, which tops $16 trillion, but he says the items are snapshots of the bigger problem.
It estimates that taxpayers are subsidizing phone service at a cost of nearly $1.5 billion a year. Though the roots of the program can be traced back to an effort in the 1930s to make sure all Americans had access to telecommunications, it has morphed into program that provided free cell service to some 16,500,000 participants last year.
NASA has no plans or budget for any manned spaceflights to Mars, the agency spends about $1 million each year on developing “the Mars menu.” It’s an effort to come up with a variety of food that humans could eat one day on Mars.
- A $325,000 grant for the development of “Robosquirrel” – a robotic rodent designed to test the interaction between rattlesnakes and squirrels.
obama gives Chinese our infrastructure jobs, do yourself a favor, watch the video and read this whole article… thank you, Angel
When obama points at Romney and claims he is an out sourcer of jobs, he needs to look at his own record…but since he ignores it, I will show it to YOU… the voter…
Humanevents has a story on one such waste of money
A congressional oversight panel wants to know when the Obama administration became aware of significant technological issues at a renewable energy company it helped fund, including the propensity of its solar panels to burst into flames when exposed to the sun.
Abound Solar Manufacturing was awarded a $400 million line-of-credit in taxpayer-backed loans from the Energy Department (DOE), and is the third company funded by President Barack Obama’s stimulus plan to go bankrupt, along with Solyndra and Beacon Power.
Republican Reps. Fred Upton of Michigan, chairman of the House Energy and Commerce Committee, along with Cliff Stearns of Florida and Cory Gardner of Colorado, sent a letter to Energy Secretary Steven Chu on Wednesday instructing the agency to turn over certain information on the loan.
A new report released by the American Action Forum shows Obamacare has imposed $27.6 billion in new regulations. Most of the burden of these new regulations will fall on private entities: “at least $20.4 billion in lifetime costs on private entities and $7.2 billion in increased burdens on state budgets,” according to the report.
Besides the added costs on states and private entities, the 85 new Obamacare regulations will require more than 60 million hours of new paperwork.
Twenty states will lose the equivalent of 300 full-time employees’ worth of work to filling out ACA regulatory red tape. Additionally, 27 states have a burden of over $300 million in new regulatory costs.
And costs will only go up from there. The report notes that these new regulations likely “represent a cost floor, and not a ceiling to implement the ACA.”
The IMF is warning the U.S. that the global slowdown is worsening and it has cut its growth forecast for the second time since April. The U.S. and European policymakers failure to fix the economic woes is going to prolong the slump.
Global growth in advanced economies is to weak to bring down the unemployment, (unless you are obama, where the numbers are swayed, and those who give up are counted as non persons any longer,and 52,000 part time jobs are counted as full time employment, then you have a labor dpt. who will drop the unemployment numbers regardless of how high they really are)
Policymakers have flagged the U.S. “fiscal cliff” — government spending cuts and tax raises due to take affect early in 2013 — and resolving the euro area’s debt crisis as the top issues facing the global economy.
Europe’s debt crisis is “a clear and present danger,” Canadian Finance Minister Jim Flaherty said last week.
The IMF forecast that global output in 2012 would grow just 3.3 percent, down from a July estimate of 3.5 percent.
That would make this the slowest year of growth since 2009 when the world was struggling to pull out of the global financial crisis. It predicted only a modest pickup next year to 3.6 percent, below its July estimate of 3.9 percent.
“It’s amazing what 15 words about coal in a presidential debate can do for the stocks,” said Michael Dudas of Sterne Agee.
“These stocks have been volatile, but you can’t discount what a man running for president said about coal. Call it the Romney rally.”
During Wednesday’s debate with Obama, Republican candidate Romney brought up coal during a discussion of energy policies.
“By the way, I like coal. I’m going to make sure we can continue to burn clean coal,” said the former head of the private equity firm, Bain Capital.
“People in the coal industry feel like it’s getting crushed by your policies,” he told Obama.
In morning trading on the New York Stock Exchange, Arch Coal (ACI.N) rose 6.7 percent to $6.62, Alpha Natural Resources (ANR.N) shares were up 5.2 percent at $6.63, Consol Energy (CNX.N) was 4.9 percent higher at $31.18, Peabody Energy (BTU.N) gained 4.2 percent to $22.74 and Walter Energy (WLT.N) was up 4.6 percent at $32.80.
A new study by Internal Revenue Service, shows that allowing Bush-era tax rates for high earners to expire, the centerpiece of President Obama’s tax plan and a big part of his campaign rhetoric, would mean that 1 million companies would be hit with new taxes. According to the IRS, which goes to great lengths to define a small business, high-income earners make up 24 percent of all small businesses that have employees.
Hmmm taxing the rich won’t hurt the small guy huh obama?
Wealthy earners with small businesses account for 923,000 businesses with employees. There are many more in business for themselves.
From fiscal 2008 to fiscal 2011, according to the U.S. Treasury, the federal government increased spending on foreign aid by 80 percent and, in fiscal 2011, spent 76 percent more on foreign aid than it did securing the borders of the United States.
In fiscal 2008, the government spent a total of $11.427 billion in international assistance programs, according to the Monthly Treasury Statement. In fiscal 2011, according to the statement, it spent $20.599 billion—an increase of $9.172 billion, or 80 percent, from 2008.
Prior to President Obama taking office, international assistance spending had been trending down for three years, according to the Treasury. In fiscal 2005, it was $14.787 billion. In fiscal 2006, it dropped to $13.914 billion. In fiscal 2007, it dropped again to $12.764 billion. And, in fiscal 2008, it dropped yet again to $11.427 billion.
Since 2008, international assistance spending has increased each year. In fiscal 2009, it climbed to $14.827 billion. In fiscal 2010, it jumped to $20.038 billion. And, in fiscal 2011, it climbed again to $20.599 billion.
By the end of August, after the first eleven months of fiscal 2012, the federal government had already spent $20.058 on foreign aid in that fiscal year. That was well ahead of the $18.439 billion the federal government had spent on foreign aid through August of last year. The Treasury has not yet published the final amount that was spent on foreign aid in fiscal 2012, which ended on Sunday.