Posts Tagged ‘$16 trillion’

Government Accounting Office Says Obama Circumvented The LAW With His Gutting Of The Welfare Work Requirement

September 6, 2012

Not that Obama or Democrats give a damn, but Barack Obama broke the law that he clearly considers his divine emperorship to be completely above:

GAO: Obama Admin Circumvented Law with Welfare Waivers
By Matt Cover
September 5, 2012

(CNSNews.com) – The Obama administration circumvented federal law in announcing it would waive the work requirements in welfare, a GAO review found, saying that the Department of Health and Human Services (HHS) should have submitted the new policy to Congress for review.

At issue is whether the policy falls under the purview of the Congressional Review Act (CRA) that requires all administrative changes of policy or regulation be submitted to Congress for review and possible disapproval.

The GAO, in a letter to House Ways and Means Chairman Dave Camp (R-Mich.) and Senate Finance Committee ranking member Orrin Hatch (R-Utah), said that the July 12 change in policy falls under the CRA and should have been submitted to Congress for approval.

“We find that the July 12 Information Memorandum issued by HHS is a statement of general applicability and future effect, designed to implement, interpret, or prescribe law or policy with regard to TANF [Temporary Assistance for Needy Families, the formal name for welfare],” GAO said in its Sept. 4 letter.

“[T]he Information Memorandum is subject to the requirement that it be submitted to both Houses of Congress and the Comptroller General before it can take effect.”

In other words, HHS must formally submit the letter to Congress and the Comptroller General before it can legally issue the waivers to the requirement that a certain portion of welfare recipients work.

GAO noted that it had not determined whether or not HHS had the legal authority to waive the work requirements in the first place, just that it must follow its legal obligations under the CRA.

HHS had contended that it had complied with the law when it notified both House and Senate committees of its new policy July 12, an argument GAO rejected saying that informal notice did not satisfy the law.

“Finally, while HHS may have informally notified the Congressional committees of the issuance of the Information Memorandum, informal notification does not meet the reporting requirements of the CRA.”

According to GAO, federal law requires that the government submit any proposed changes in federal regulations or rules to Congress, so that it may act to formally disapprove and stop the rule from taking effect. GAO found that any rule that is meant to “implement, interpret, or prescribe law or policy” must be submitted to Congress before it can take effect.

In July, HHS issued a memorandum to states announcing it would begin waiving the welfare-to-work requirements for those states who wanted to change their current welfare-to-work programs, including the definitions of what qualifies as work and how states calculate who is and who is not working.

Camp, whose office released the GAO finding, said that HHS’ waiver policy amounted to an “end-run” around Congress.

“Despite his latest attempt at an end-run around Congress, this GAO report clearly states that the Administration must submit this rule to Congress for review before it can take effect. Work requirements were the centerpiece of welfare reform, and we cannot allow that progress to be undone,” Camp said in a statement Tuesday.

On the other hand, you can kind of understand why Obama would gut the welfare work requirement, given that his presidency and his policies are clearly completely incapable of actually creating any damn jobs for welfare recipients to actually have.

It’s just a lot easier for a socialist like Obama to create a nation of needy and disabled people desperately voting “Democrat” in order to get their next welfare check.  Which is why Obama is literally creating an America in which more people go on disability than get jobs.

Obama is adding $6 trillion in debt – and he’s only just getting STARTED bankrupting America.

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Obama Has Just Taken God Damn America To $16 Trillion In Debt (Mind You, Our Actual Debt Is $222 Trillion And SKYROCKETING)

September 5, 2012

Barack Obama fortuitously provides my setup for me as I point the angry finger of blame he once pointed right back in his fool face:

“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.” — Barack Obama, 3 July 2008

Obama gives us the relevant numbers himself: Bush gave us $4 trillion in debt over eight years and that was so irresponsible and such a failure in leadership that it’s “unpatriotic.”  Those are Obama’s own words that he was elected under.  And Obama started out with a national debt of $10 trillion and promised the American people he would cut the deficit in half during his first term.

That deficit that Obama promised to cut in half was $455 billion.  That is a fact as can be seen below.  Not only did Obama NOT keep his self-righteous, lying, hypocrite promise to cut the deficit in half in his first term, he has more than doubled that deficit each year of his presidency and one year MORE THAN TRIPLED it.  And not only has Obama given us trillion-PLUS dollar deficits every single year of his presidency, but in fact he has created the disastrous future of trillion dollar deficits as far as the eye can see until America collapses.

Obama demonized Bush for a debt that was so enormous that it would cost every man, woman and child in America $30,000 to pay.  And what did he do?  He gave us a debt that will now cost every man, woman and child in America more than $50,000 to pay!

It’s not just that Obama is a liar; he is a truly demonic liar. And Obama has been “governing” or “leading” by counting on his ability to lie faster than the other side can correct his lies.

Here are the official budget deficit numbers:

  • 2011 – $1.5 trillion budget deficit (projected)
  • 2010 – $1.3 trillion budget deficit
  • 2009 – $1.4 trillion budget
  • 2008 – $455 billion budget deficit
  • 2007 – $162 billion budget deficit
  • 2006 – $248.2 billion budget deficit
  • 2005 – $319 billion budget deficit
  • 2004 – $412.7 billion budget deficit
  • 2003 – $377.6 billion budget deficit
  • 2002 – $157.8 billion budget deficit
  • 2001 – $128.2 billion budget surplus

It has become very difficult to estimate Obama’s and the Democrat Party’s deficits.  Because they have wickedly refused to even BOTHER to pass a budget as required by law for 1,224 days.  Republicans in the House have done their job every year they have governed, both during the time that they controlled both branches of the Congress in 2006 (when the final Republican congressional budget under Bush was just $162 billion) and since they retook the House in 2010.  But Democrats who control the Senate have refused to do their duty and pass ANY budget at ALL.

It’s official: We are now $16 trillion in debt
posted at 6:58 pm on September 4, 2012 by Erika Johnsen

That. Just. Happened. There’s been a bit of waffling on when exactly it occurred between last Friday and Tuesday, but regardless, that ship has sailed.

Total U.S. government debt eclipsed $16 trillion for the first time Friday, new government data show, as total federal borrowing continues marching toward the $16.394 trillion borrowing limit.

The Treasury Department said total government debt hit $16,015,769,788,215.80 on Friday, up $25 billion from the day before. The amount of federal debt subject to the borrowing limit is actually slightly less, as it doesn’t include several types of borrowing, and it stood at $15.977 trillion on Friday.

Ah yes, remember when Obama promised he’s cut the deficit in half by the end of his first term in office? Heh, that ol’ chestnut. In actuality, President Obama has added over $5.4 trillion to the debt during less than four years in office, more than any other president and approximately a trillion more than President Bush during his full two terms in office. So, there’s that.

Parting thought: How much is a trillion?

If Obama is a one-term president, which he himself by his own rhetoric said he ought to be, he will have added more than $6 trillion to the debt in his four years by the time he leaves office.  The same man who viciously demonized his predecessor for adding less than $5 trillion over EIGHT years.  The national debt is over $16 trillion now, and it’s going to keep piling on and piling on until January 2013.  With at least $500 billion in interest to pay on top of that.

But don’t forget the REAL debt is actually $222 trillion:

The U.S. fiscal gap, calculated (by us) using theCongressional Budget Office’s realistic long-term budget forecast — the Alternative Fiscal Scenario — is now $222 trillion. Last year, it was $211 trillion. The $11 trillion difference — this year’s true federal deficit — is 10 times larger than the official deficit and roughly as large as the entire stock of official debt in public hands.

Now, the fact of the matter is that 99.9 percent of that supermassive debt have been loaded on the back of America’s children – because Democrats love “free stuff” that SOMEBODY ELSE gets forced to pay for – was created by Democrat entitlement programs that should have never been passed in the first place.  Both Social Security and Medicare would have been FAR more stable and pay out FAR better benefits if they had been privatized from the very start as Republicans wanted.  But Democrats imposed their socialism by force and it is only a matter of time before their government fascist takeover implodes America.  Unless YOU’VE got $222 trillion in your pocket.

Democrats have murdered America.

What they’ve done to the country they’ve done to the liberal states and the liberal cities.   Go to Illinois, the king of the deadbeat states. You watch a 60 Minute Story and you will be PISSED at what slimebag Democrat cockroaches have done. Go to California, where Democrats have created a $500 BILLION unfunded pension black hole of doom. Look at America under Obama and take note that America just passed the $16 trillion mark that was $10 trillion when Bush left office. Barack Obama DEMONIZED George Bush for increasing the debt by $4 trillion over eight years – look what that Marxist weasel has done in HALF the time by piling on $6 trillion in debt in only FOUR years!!!

This election isn’t a “do-over.”  The odds are that Obama has already fatally wounded America with his insane spending and his bizarre “logic” and his constant fracturing of America on the basis of race and gender and income.  But if you vote for Obama now, you are literally voting for the suicide of America.

If Spain Collapses, Europe Collapses. And If Europe Collapses, America Collapses. And Terrified Spaniards Are Bailing Out Of Spain As I Write This.

September 5, 2012

Be afraid.  Be very, very afraid.  Because to paraphrase Obama’s demonic reverend for 25 years, the chickens of socialism have come home to roost:

Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain
Published in the New York Times: Monday, 3 Sep 2012 | 9:22 PM ET By: Landon Thomas Jr.

After working six years as a senior executive for a multinational payroll-processing company in Barcelona, Spain, Mr. Vildosola is cutting his professional and financial ties with his troubled homeland. He has moved his family to a village near Cambridge, England, where he will take the reins at a small software company, and he has transferred his savings from Spanish banks to British banks.

“The macro situation in Spain is getting worse and worse,” Mr. Vildosola, 38, said last week just hours before boarding a plane to London with his wife and two small children. “There is just too much risk. Spain is going to be next after Greece, and I just don’t want to end up holding devalued pesetas.”

Mr. Vildosola is among many who worry that Spain’s economic tailspin could eventually force the country’s withdrawal from the euro and a return to its former currency, the peseta. That dire outcome is still considered a long shot, even if Spain might eventually require a Greek-style bailout. But there is no doubt that many of those in a position to do so are taking their money — and in some cases themselves — out of Spain.

In July, Spaniards withdrew a record 75 billion euros, or $94 billion, from their banks — an amount equal to 7 percent of the country’s overall economic output — as doubts grew about the durability of Spain’s financial system.

The withdrawals accelerated a trend that began in the middle of last year, and came despite a European commitment to pump up to 100 billion euros into the Spanish banking system. Analysts will be watching to see whether the August data, when available, shows an even faster rate of capital flight.

More disturbing for Spain is that the flight is starting to include members of its educated and entrepreneurial elite who are fed up with the lack of job opportunities in a country where the unemployment rate touches 25 percent.

According to official statistics, 30,000 Spaniards registered to work in Britain in the last year, and analysts say that this figure would be many multiples higher if workers without documents were counted. That is a 25 percent increase from a year earlier.

“No doubt there is a little bit of panic,” said José García Montalvo, an economist at Pompeu Fabra University in Barcelona. “The wealthy people have already taken their money out. Now it’s the professionals and midrange people who are moving their money to Germany and London. The mood is very, very bad.”

It is possible that the outlook could improve if the European Central Bank’s governing council, which meets Thursday, signals a plan to help shore up the finances of Spain and other euro zone laggards by intervening in the bond markets.

But right now, if anything, Spain’s picture is growing dimmer.

On Friday, the government’s bank rescue fund said it would need to pump up to 5 billion euros into the failed mortgage-lending giant Bankia, which the state seized in May. And on Monday, Andalusia became the latest of Spain’s semiautonomous regions to ask the central government for rescue money.

The wider prospects for the euro zone are also still bleak. Moody’s [MCO 39.72 0.12 (+0.3%) ] Investors Service said on Monday that it had changed its outlook on the AAA rating of the European Union to negative, and that it might downgrade the rating if it decides to cut the ratings on the union’s four largest budget contributors.

Spain’s gathering gloom comes despite a gradual return of capital to banks in Greece and the relative stability of deposits in those other euro zone trouble spots, Italy, Ireland and Portugal.

The continued exodus of money and people from Spain could be a warning to European policy makers that bailing out the country — a step now widely expected — may not stem the panic as long as the Spanish economy remains in a funk.

It was a lesson learned in Greece, where despite successive European bailouts, about a third of deposits have been withdrawn from its banks since 2009, as the public worried that Athens might have to return to the drachma.

Spain is still a far cry from a nearly bankrupt Greece: it has a much larger and more diverse economy, lower levels of debt and a bond market that is still functioning.

It might be more accurate to say that money is leaving Spanish banks at more of a jog than anything close to a sprint.

Although retail and corporate deposits are down 10 percent compared with those of July 2011, the country remains relatively rich in savings, with 2.3 trillion euros in overall deposits, according to data from Morgan Stanley.

But once under way, the flight of bank deposits can easily overwhelm rational facts and analysis.

Setting off the flight was the failure of Bankia, which came as a shock to Spanish savers who had been assured by government officials that the bank was in good shape.

Instead of calming fears, the state takeover prompted comparisons to Argentina in 2001, when peso bank accounts denominated in dollars were frozen in order to stem the flight of deposits.

The corralito, or corral, as the Argentine action is known, has become part of the public conversation in Spain. The million-plus Argentines who have since immigrated to Spain have provided ample and gory stories of desperate legal battles and wiped-out savings.

Eduardo Pérez, a Spaniard who was working in Argentina during that period, remembers the events all too well. He said he lost four-fifths of the money he had kept in an Argentine savings account, though he declined to say how much money was involved.

“Some of my friends lost everything,” Mr. Pérez said. “So yes, everyone in Spain knows about the corralito.”

Recently, Mr. Pérez, who lives in the northern city of Bilbao, removed about a third of his euros from his Spanish savings account and sent them to Singapore, converting them to Singapore dollars.

Having lost his job at a multinational company a few months ago, Mr. Pérez, 48, is trying to make ends meet by focusing on his travel Web site and blog, which aggregate Spanish-language travel videos.

But as the job outlook worsens, he is contemplating following in the path of his savings and starting a new life in Singapore with his wife.

“Two years ago, we never would have thought of this, but now I have real fears that there will be a breakup with the euro,” he said. “And when you keep hearing people saying, ‘Don’t worry, it’s not going to happen’ — well, that is when you have to start worrying.”

Analysts said that the record-high outflow from Spain in July was probably spurred in part by July’s being a taxpaying month for many corporations, which prompted them to withdraw cash from deposit accounts.

Also playing a role were investment funds that moved cash reserves to foreign banks in light of the credit downgrades at Spanish banks.

Still, as the examples of Mr. Vildosola and Mr. Pérez show, individual deposit flight is becoming more pronounced.

Some people are willing to fly to London for the day just to open an account there, as most banks in the city require such transactions to be made in person.

Spanish bankers working for British financial institutions say they have been hit with a barrage of questions about how to open savings accounts in London.

“It seems as if everyone I know in Spain is getting on an easyJet to come to London and open a bank account,” said one such banker, who spoke on condition of anonymity, citing his company’s policy.

That is what Mr. Vildosola did before he took the more drastic step of moving his family to England.

“It’s sad,” he said. “But I just don’t think there is a future for me in Spain right now.”

This story originally appeared in The New York Times

You want scary?  CNBC reported that the withdrawal rate is equal to 52% of the entire GDP of Spain:

The flight of capital from Spain is now worse than what Indonesia, one of the hardest hit countries during the Asian financial crisis, experienced in the late 1990s, according to analysis by Nomura.

On a three-month rolling basis, portfolio and investment outflows from Spain totaled 52.3 percent of the country’s gross domestic product (GDP), (that’s) more than double the outflows from Indonesia, which reached 23 percent of GDP at the time of the Asian crisis, Jens Nordvig, global head of G10 FX strategy at Nomura wrote in a note to clients on Tuesday.

Spaniards and foreign investors have been pulling money out of Spanish banks as the economy has worsened in recent months, and Nordvig said without the single currency and the flows from the ECB, Spain would already be going through a major currency crisis. (Read More: Depression, Suicides Rise as Euro Debt Crisis Intensifies)

We would stress that the broad-based nature of the capital flight, which involves both banking claims and securities and flows from both residents and non-residents, makes for a rather extreme overall outflow, and one that raises serious concerns about the implications for banking sector stability and economic growth,” Nordvig wrote.

For the record, the French are fleeing France and they are making it very clear that they are fleeing France because of the socialism that France just chose for itself:

Indigestion for ‘les Riches’ in a Plan for Higher Taxes
By LIZ ALDERMAN
Published: August 7, 2012 763 Comments

PARIS — The call to Vincent Grandil’s Paris law firm began like many others that have rolled in recently. On the line was the well-paid chief executive of one of France’s most profitable companies, and he was feeling nervous.

President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros ($1.24 million) a year. “Should I be preparing to leave the country?” the executive asked Mr. Grandil.

The lawyer’s counsel: Wait and see. For now, at least.

“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil, a partner at Altexis, which specializes in tax matters for corporations and the wealthy. “Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”

A chill is wafting over France’s business class as Mr. Hollande, the country’s first Socialist president since François Mitterrand in the 1980s, presses a manifesto of patriotism to “pay extra tax to get the country back on its feet again.” The 75 percent tax proposal, which Parliament plans to take up in September, is ostensibly aimed at bolstering French finances as Europe’s long-running debt crisis intensifies.

Europe is imploding.  Spain is one of the PIIGS (the ‘S’ in PIIGS, in fact) who are leading that collapse.  And Obama is pushing for an economic and environmentalist model that most copies collapsing Spain.

And liberals are DETERMINED to do the same thing here.  Go to Illinois, the king of the deadbeat states.  You watch a 60 Minute Story and you will be PISSED at what slimebag Democrat cockroaches have done.  Go to California, where Democrats have created a $500 BILLION unfunded pension black hole of doom.  Look at America under Obama and take note that America just passed the $16 trillion mark that was $10 trillion when Bush left office.  Barack Obama DEMONIZED George Bush for increasing the debt by $4 trillion over eight years – look what that Marxist weasel has done in HALF the time by piling on $6 trillion in debt in only FOUR years!!!  Oh, and America’s REAL debt isn’t a paltry $16 trillion; it’s actually a supermassive $222 trillion.  And all that debt was created by Democrat boondoggle-takeovers of what should have been privatized.

Democrats have murdered America.  And we are merely waiting for our turn to completely implode before the Antichrist comes and the Book of Revelation prophecy becomes the news story account of the end of human history.  You can hear the hoofbeats of the four horsemen of the Apocalypse riding hard toward us even now.

The last couple of years, as Europe has slowly imploded, the dollar has been given a boost as terrorized Europeans seek some haven from their weakening Euro.  But if Europe goes – and it WILL go – America will fall right afterward because Europe is our largest trading partner and there won’t be anybody to buy our stuff from us.  And because Obama has spent the last four years racing us toward that same direction and that same catastrophic collapse.  And when America goes the dollar will flush down the toilet right down with it.  And you better take a look at the terror on the faces of Spaniards; because YOU will have that same look on YOUR face soon thanks to your vote for Obama and Democrats in 2008.

In 1980, the last year of Jimmy Carter’s failed presidency, 300,000 businesses filed for bankruptcy.  In this last failed year of Obama’s failed presidency, 1.4 million – very nearly FIVE TIMES as many – businesses have filed for bankruptcy.  If we vote for Obama, we vote to die as a nation just as Spain previously voted to die and just as Europe previously voted to die.

Everything about this failed president is Marxist – including his damn Marxist slogans:

New Obama slogan has long ties to Marxism, socialism
By Victor Morton – The Washington Times
April 30, 2012, 06:56PM

The Obama campaign apparently didn’t look backwards into history when selecting its new campaign slogan, “Forward” — a word with a long and rich association with European Marxism.

Many Communist and radical publications and entities throughout the 19th and 20th centuries had the name “Forward!” or its foreign cognates. Wikipedia has an entire section called “Forward (generic name of socialist publications).”

“The name Forward carries a special meaning in socialist political terminology. It has been frequently used as a name for socialist, communist and other left-wing newspapers and publications,” the online encyclopedia explains.

The slogan “Forward!” reflected the conviction of European Marxists and radicals that their movements reflected the march of history, which would move forward past capitalism and into socialism and communism.

The Obama campaign released its new campaign slogan Monday in a 7-minute video. The title card has simply the word “Forward” with the “O” having the familiar Obama logo from 2008. It will be played at rallies this weekend that mark the Obama re-election campaign’s official beginning.

Vote for Obama.  March “forward” right into hell, you fools.  Because that’s what you’ve got to look “forward” to under your demonic false messiah Obama.

You just watch what will happen to the DOW the day Spain goes the way of the Dodo bird.  And you realize that we’re going down hard in our own day of reckoning because we chose the same stupid and immoral course that Spain chose.

What’s Obama’s “strategy” to deal with this crisis???  To try to call on Europe to not collapse until after he’s reelected so he won’t have to face the voters’ wrath over what hell has befallen America under his failed leadership.

The collapse is coming.  Democrats gave us that when they voted for Obama and let him kill America with his socialism.  The Antichrist is coming.  He’ll be riding in on his white horse to save the day from the disaster and collapse caused by the previous false messiah Obama.  And Democrats will welcome the beast even more enthusiastically than they welcomed Obama and they will worship him and they will take his mark.

Get ready for hell on earth.  And then get ready for hell itself.  Because the beast is coming.

Are You Doing Better Than You Were Four Years Ago Under Obama’s Failed Fiasco Of A Presidency? ‘No, But That’s Not The Question,’ Say His Minions

September 4, 2012

This is the key stat to the answer, “Are you better off than you were four years ago”:

Household income is below recession levels, report says
By Michael A. Fletcher, Published: August 23

Household income is down sharply since the recession ended three years ago, according to a report released Thursday, providing another sign of the stubborn weakness of the economic recovery.

From June 2009 to June 2012, inflation-adjusted median household income fell 4.8 percent, to $50,964, according to a report by Sentier Research, a firm headed by two former Census Bureau officials.

Incomes have dropped more since the beginning of the recovery than they did during the recession itself, when they declined 2.6 percent, according to the report, which analyzed data from the Census Bureau’s Current Population Survey. The recession, the most severe since the Great Depression, lasted from December 2007 to June 2009.

Overall, median income is 7.2 percent

ABC News has a survey.  As of now, nearly three out of every four answer “No” to the question and say they are NOT better off under Obama.

Answer: HELL No.  You want to blame the recession and even the first year of Obama’s utterly failed presidency on Bush?  Fine.  But the fact remains that the median household income has gone down nearly TWICE as much during Obama’s “recovery” than it did during the entire recession that Obama blames Bush for.  Which is to say that even the very “best of times” under Obama’s failed presidency have paled in comparison even to the worst of times under Bush – with the very “worst” of “Bush’s times” happening while Bush was at home watching Obama stick his skinny legs up on the Oval Office desk.

THAT is what they call a “failed presidency.”  There is NO FREAKING WAY Americans are better off now than they were when this failure took office.  And when you add to that that the “failed Bush policies” led to a 5.26% unemployment rate whereas Obama’s messianic policies have led to a 9.33% average unemployment rate, well, you tell me which you like better.  Especially given the fact that when you consider people who have simply dropped out of the job market all together in despair due to Obamanomics, and when you consider the labor participation rate, the real unemployment rate under Obama is about 11.6% rather than the still-miserable 8.3%.

O’Malley: We’re Not Better Off Now
By Jonathan Miller
Updated: September 2, 2012 | 2:58 p.m.
September 2, 2012 | 11:27 a.m.

Democratic Gov. Martin O’Malley of Maryland, who is considered a possible contender for president in 2016, bucked other Obama surrogates on Sunday, saying that the country was not better off now than it was four years ago.

On CBS’s Face the Nation, host Bob Schieffer asked: “Can you honestly say that people are better off today than they were four years ago?”

(RELATED: Axelrod Calls GOP Convention a Bust)

Responded O’Malley: “No, but that’s not the question of this election. The question, without a doubt, we are not as well off as we were before George Bush brought us the Bush job losses, the Bush recession, the Bush deficits, the series of desert wars — charged for the first time to credit cards, the national credit card.”

Quipped Schieffer: “George Bush is not on the ballots.”

The most senior Obama campaign simply refused to answer the question:

David Plouffe (who frankly should have been explaining why he took money from IRAN):

GEORGE STEPHANOPOULOS: Is he right, can the president argue unequivocally that Americans are better off today than they were four years ago?

DAVID PLOUFFE: Listen, George, I think the American people understand that we got into a terrible economic situation, a recession, only that the Great Depression — the only thing the country has ever seen like it. So they know we had a deep hole. It took us a long time to get into that hole, it’s going to take a long time to out of it.

First of all, Governor Romney is offering the same, exactly policies that led to the recession in the first place.

To paraphrase Plouffe’s response to Stephanopoulos’ question:

“Mumble, mumble, mumble.  Blame Bush.  Blah blah blah.  And in conclusion, blame Bush.”

If you want your president to be a demagogue who will NOT accept responsibility for his record and who will blame and lie, then Obama truly is your “hope and change” and this really is your “fundamentally transformed America.”  Because that’s all that Obama has done and it is all that he will continue to do.

And of course that “that’s what led to the recession” line might sound good, but let’s point out that RONALD REAGAN USED CONSERVATIVE ECONOMIC POLICIES TO PROPEL AMERICA TO 10 PERCENT GROWTH AND CREATED OVER A MILLION JOBS A MONTH.

David Axelrod took the plunge and said, yeah, we’re better under the man who lowered the level of our oceans and healed our planet before ultimately saying, okay, maybe we AREN’T better off:

“Can you honestly say that Americans better off today than they were four years ago?” Wallace pointedly asked Axelrod.

“I can say that we’re in a better position than we were four years ago in our economy, in the sense that when this president took office, we were losing 800,000 jobs a month,” Axelrod responded. “And the quarter before he took office was the worst since the Great Depression and we are in a different place.”

“29 straight months of job growth, 4.5 million private sector jobs,” the adviser cited as statistical evidence, but conceded: “Are we where we need to be? No.”

That 29 straight months of job growth might actually sound impressive if Democrats hadn’t utterly pooh-poohed George Bush when he had FIFTY-TWO STRAIGHT MONTHS OF JOB GROWTH from September 2003 to December 2007 thanks to his TAX CUTSIt takes so much freaking chutzpah to decry fifty-two months of job growth and then laud a number barely half of that as magnificent that only a Democrat could possibly be hypocrite enough to do it.  But there you have it.

Then there’s the “monkey math” that Axelrod cites: basically, it first depends on the theory that Barack Obama really didn’t assume the presidency until 2010.  It was the devil BOOSH who was president in 2009 and so all of those numbers only apply to the devil Bush.  We only take credit for things we can make look good; Bush is responsible for everything else whether it happened during Obama’s watch or not.  I say that because Barack Obama has been president NOT for 29 months, ye Democrat dumbasses, but for going on 45 months.  And it is a national disgrace that we have such a completely failed leader that he can’t even assume responsibility for over a year of his failed presidency.

Then there’s the 800,000 jobs lost a month when Obama took office.  Well, Democrats are such liars they even fabricate when they’re getting close to trying to tell the truth.  We never lost “800,000 jobs a month.”  The most jobs we ever lost was in January 2009 (during that year that Obama was president but refuses to acknowledge) when we lost 741,000 jobs.  If you’re going to round that number honestly, David, you liar, we only lost 700,000 jobs that month, didn’t we?  And for Axelrod to oh so conveniently round way, WAY up and then make it sound like it was happening every single month – we got to that 700k number in only ONE month – is a lie from a serial liar.

What’s always been interesting to me is that we had a crisis that was created by Democrat-OWNED Fannie Mae and Freddie Mac going bankrupt which triggered the meltdown as private banks held Fannie and Freddie mortgage backed securities that they suddenly discovered were “toxic assets” because the GSEs had loaded up so much bad debt in those securities that nobody could tell good debt from bad debt.  And that month, in September 2008, we lost 280,000 jobs under Bush’s watch.  In October, things looked a little better and we only lost 240,000 jobs that month.

Then America made the stupidest decision in its history and elected Obama.  And businesses immediately responded in November by giving up 333,000 jobs – nearly a hundred thousand more jobs than the month before.  The panic of a future-failed Obama presidency continued as we lost 632,000 jobs in the first full month after Obama was elected.  What kind of fool can look at this reality and say, “Obama’s election calmed frightened businesses?”  Because businesses said, “This turd is going to kill us.  Let’s cut our losses now.”  And so the month Obama took the oath of his failed office, we lost 741,000 jobs that month as businesses cut and ran on his presidency.

To document that the huge job losses that Obama demagogues actually occurred because of sheer terror of a pathetic failure assuming office, let me go back to an article I wrote in October of 2008: “Actual Job Creators Favor McCain 4-1 Over Obama.”  I note an article from CEO Magazine:

People are most concerned about jobs right now; maybe they should stop listening to mainstream media ideologues and start listening to the people who actually create jobs:

Chief Executive Magazine’s most recent polling of 751 CEOs shows that GOP presidential candidate John McCain is the preferred choice for CEOs. According to the poll, which is featured on the cover of Chief Executive’s most recent issue, by a four-to-one margin, CEOs support Senator John McCain over Senator Barack Obama. Moreover, 74 percent of the executives say they fear that an Obama presidency would be disastrous for the country.

“The stakes for this presidential election are higher than they’ve ever been in recent memory,” said Edward M. Kopko, CEO and Publisher of Chief Executive magazine. “We’ve been experiencing consecutive job losses for nine months now. There’s no doubt that reviving the job market will be a top priority for the incoming president. And job creating CEOs repeatedly tell us that McCain’s policies are far more conducive to a more positive employment environment than Obama’s.”

Disastrous for the country.” That doesn’t sound good. And that’s about as optimistic as the CEO’s get about Barack Obama:

“I’m not terribly excited about McCain being president, but I’m sure that Obama, if elected, will have a negative impact on business and the economy,” said one CEO voicing his lack of enthusiasm for either candidate, but particularly Obama.

In expressing their rejection of Senator Obama, some CEOs who responded to the survey went as far as to say that “some of his programs would bankrupt the country within three years, if implemented.” In fact, the poll highlights that Obama’s tax policies, which scored the lowest grade in the poll, are particularly unpopular among CEOs.

Bankrupt the country within three years.” There. You want socialism, you can have it. “Spread the wealth around” so that country itself is as broke as the defaulting homeowners and the defaulting mortgage houses we keep hearing about.

We didn’t listen to those CEOs.  And here we are very nearly damned bankrupt just as they predicted, as Democrats gather for their convention, with the national debt about to hit $16 TRILLION (now well above our entire GDP) and an actual fiscal gap of no “mere” $16 trillion but a supermassive black hole of death $222 trillion.

You want to see the market tank and employers cut their losses again?  Just re-hire Obama.  You’ll see things go to sh!t right quick as business reacts to the fiasco.

Let’s see, what did the lying dishonest weasel say back in 2008?

“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.” — Barack Obama, 3 July 2008

That’s right.  Six trillion dollars in debt from Obama in one four-year term is responsible and patriotic; four trillion dollars over EIGHT YEARS is “irresponsible and unpatriotic.”  Again, there’s that thingy about Democrat=hypocrite and hypocrite=Democrat.  And if you are a Democrat, it is only because you, personally, are a hypocrite and a bad person.

The 4.5 million private sector jobs that Axelrod credits Obama for first of all utterly refuses to consider that 13 first months of Obama’s presidency (to quote that Servpro commercial jingle, “Like it never even happened!”) and second of all counts all the job gains but refuses to consider the rather disturbing factoid about all of those new jobless claims that have racked up every single month during Obama’s presidency. But you see, all the job gains are because of Obama but all the nearly 400,000 job losses every single damn month four damn years after Bush left the White House are still because of the devil Bush.  Third, given our population growth, ten million Americans have actually entered the work force during Obama’s presidency; which is to say that Obama is nowhere NEAR keeping up with simple population growth even according to his own asinine horn-tooting.  And fourth, this “4.5 million jobs” is a full-of-crap talking point parroted by rabid ideologues

This turd needs to go.  He needs to go now.  And if he doesn’t go soon this country is simply doomed.

US Federal Reserve Handed Out More In Bailouts ($16 TRILLION!) Than The ENTIRE OFFICIAL US DEBT

December 31, 2011

If you like socialism and you don’t like socialism for the rich, YOU ARE A STUPID SOCIALIST.

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts
Posted by AD on July 21st, 2011

The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the left), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious — the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.

“This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.” – Bernie Sanders(I-VT)

When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.

Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses will eventually plunder the world economy.

The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places

View the 266-page GAO audit of the Federal Reserve(July 21st, 2011): http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

Source: http://www.gao.gov/products/GAO-11-696
FULL PDF on GAO server: http://www.gao.gov/new.items/d11696.pdf
Senator Sander’s Article: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

I have to laugh at the chutzpah of openly socialist Bernie Sanders in his quote, “This is a clear case of socialism for the rich…”  I mean, I thought the guy LIKED his socialism.  The idea that only socialism for the poor is okay is as idiotic as it is false.  You can go to any socialist country at any time in history to see how false it is: Kim Jong Il of “The Peoples” Republic of North Korea made sure that he had his fill of nothing but the very finest in food and drink and blong Swedish prostitutes while the rest of his starving people were digging out their own feces to burn in order to survive the winter.

But the other little factoid being revealed here is the sheer extent of our totally-out-of-control debt.

Consider the following NPR story:

A National Debt Of $14 Trillion? Try $211 Trillion
by NPR Staff
August 6, 2011

Note that the story was written in August of 2011, you know, way, way back in history when our official debt was only $14 trillion.

Obama zoomed it to more than FIFTEEN TRILLION just three months later in November.  And now the same fool-in-chief is demanding that we hike our debt ceiling again by yet another $1.2 trillion.

While Bush was rightly criticized for exploding the national debt by $4 trillion in eight years, Barack Obama has supermassively exploded the national debt by $6 trillion in only three years.

And we’re talking about our debt being a tiny,tiny fraction of what it truly is: try more than $211 TRILLION, if we use all the debt that we’ve REALLY racked up.

We are so doomed.

Which is why the beast is coming.

Get ready to worship him and take his mark, Democrats.  Your entire lives up to this point has prepared you for that moment.