Posts Tagged ‘GE’

Brilliant Obama Geniuses More Stuck On Stupid Than Ever

August 28, 2011

Obama is giving Spanish-owned companies “shovel-ready jobs.  But they’re GREEN shovel-ready jobs.  So apparently it’s okay if those jobs only cost the American taxpayers – well, make that the Obama administration and his massive government bureaucracy borrowing from China so that American taxpayers have to pay principal plus interest – more than two million dollars per job.

John Ransom  
Palin Thumps Harvard
August 22, 2011

If you drew a straight line between the Obama White House, Harvard and Martha’s Vineyard, you’d apparently find no real economists judging by the effluvia created through progressive economics in this country.

But would it be too much to ask if we could have a few people who could just add, subtract, multiply and divide? What exactly is an Ivy League degree worth if you can’t do lower mathematics?

I guess a lot less than Sarah Palin and a University of Idaho bachelor’s degree is worth.

Go Uof I Vandals!

In a quest for a few more “green” jobs that the administration can brag about, the Department of Energy recently announced that they have awarded a Spanish company, Abegnoa Bioenergy, $134 million in loan guarantees for an experimental biomass plant that will create- count ‘em- only 65 “permanent” jobs in Kansas.

Say what you want but Palin’s career shows she knows how to divide 65 jobs into $134 million. That skill apparently is beyond the ken of the Hallowed-Halls-of-Harvard-and-Princeton crowd. But it certainly seems like a valuable skill for a president to have.

$134,000,000 /65= $2,061,538.46 per job.

With these kinds of economies of scale, it would make more sense for the administration to make 65 people multimillionaires outright with that money. Just think: 65 more people they could tax at a higher rate.

What’s more fair than that? I mean besides not taxing everyone out of business. But, since that’s not an option….

Oh, I forgot. That makes too much sense for a liberal. They don’t like millionaires.

They only like Brazilian, Spanish and progressive billionaires.

“This project is part of the Administration’s commitment to expand our advanced domestic biofuels industry,” said Energy Secretary Chu according to BrightEnergy.org. “Investments like these will create jobs and decrease the nation’s dependency on oil by using a sustainable, home-grown transportation fuel that will help reduce greenhouse gas emissions.”

Not likely.

What it will do is help a company with $5.5 billion dollars cash in the bank, owned by Spanish millionaires and billionaires, keep $134 million in the bank. Abegnoa can then use that money in real projects that require, um, what’s technically known as a “return on investment” (ROI) to be successful. ROI is generally considered to be a good thing in the investment business if you’d like to prevent criminal proceedings. Or alternately, if you can’t produce return on investment, you can try for a government guarantee.

Obama likes to talk about investing in education, infrastructure, whatever, but if Obama were in charge of your 401k, at retirement you’d not only be broke, but you’d owe a few million. Oops, looks like Mr. Investment put some money into education and infrastructure development that wasn’t just quite as shovel ready as he thought.

That will go down so well at the retirement home when it’s time to take your medicine and eat your peas.

The problem is that Washington types have been making promises about biomass biofuels for decades now without any real progress- biomass is not shovel ready in other words, unlike the real energy projects proposed by outside Washington types, like- oh, I don’t know- Sarah Palin.

In short, biomass takes feedstock like corn leaves, wood pulp or municipal waste and turns it into a liquid fuel like ethanol or a gas, like hydrogen. It’s kind of a way of speeding up the millions-of-years process that made fossil fuels.

The clean energy crowd in DC has promised for two decades that biofuels will help break dependence on foreign sources of oil, but they always have to dial back their predictions, says Gigaom.com, a technology website and consultancy that produces green IT research.

“Originally in 2010,” writes Gigaom “the EPA estimated the industry could produce 100 million gallons, but basically it turned out to be zero. For 2011, five companies were estimated to be able to produce about 6 million cellulosic ethanol-equivalent gallons and it’s unclear if they are going to make that estimate.”

Oh, but wait, it’s worse.

“For 2012,” says Gigaom, “the EPA previously estimated that the cellulosic ethanol industry would have a capacity to be able to produce 500 million gallons. But in June the EPA quietly proposed to reduce that volume estimate to 3.5 million to 15.7 million.”

Sounds like the same government guys who estimate jobs creation for the Bureau of Labor Statistics moonlight at the EPA.

So much for the DOE’s investment in Abegnoa, a publicly-traded company with almost $9 billion dollars in sales and 26,128 employees not counting the 65 soon-to-be-hirelings in Kansas.

So much for 65 permanent jobs in Kansas. In the meantime 20,000 real energy jobs Palin created with the Nat Gas pipeline in Alaska are being held hostage to a presidential permit that Obama hasn’t signed in two-and-a-half years.

If the biomass plant made any sense at all economically the company would be able to get a loan on the strength of its balance sheet, rather than having to rely on guarantees from the Department of Energy. Because in the end, this plant won’t make money, won’t make the rent and certainly won’t make enough “green” fuel to power Kyle Orton’s Prius for a week.

Go Tebow!

Not only can’t they produce fuel from biomass economically, everyone seems to be unable to produce commercial quantities of fuel from biomass at any price.

Say what you want about the GOP’s desire to drill in ANWR and Palin’s support of it. But at least it’s bankable, as is the Palin’s Alaska-Canadian natural gas pipeline.

I know this much for sure: On day one any energy plan Palin puts forth will thump the plan the genius from Harvard has followed.

Let’s just call biomass what it is: the sub-prime market of Obama’s sub-prime “green” energy business.

And let’s call the taxpayers in this scheme what Wall Street and Washington want them to be: Shovel Ready.

Oh, and how about this little bit of brilliance from Team Obama:

GE’s Immelt Advises President on Jobs and Competiveness, Exports Jobs and Technology to China
Under Immelt, GE Cuts one-fifth of U.S. Work Force; Sells China Advanced Aerospace Tech NASA Originated

WASHINGTON – August 24 – Congressman Dennis Kucinich (D-OH) today called upon General Electric’s Chairman and CEO, Jeffrey Immelt to resign from his position as head of the President’s Council on Jobs and Competitiveness. Kucinich’s statement came in response to news reports that, in exchange for short-term profit, GE is sending advanced technology to China that was originally created by NASA.

“If he does not resign, the White House should remove him,” Kucinich said.

As 14 million Americans struggle with unemployment, General Electric, under Mr. Immelt’s leadership, is exporting highly-sophisticated technology to the Chinese in order to book short-term profits for GE. GE strives mightily to avoid paying federal income taxes, but goes ‘all in’ on a deal to transfer U.S. government-subsidized technology to the Chinese. Jeffrey Immelt has a conflict of interest. He cannot ethically advise the President on how to create American jobs and promote American competiveness, while at the same time leading a company that is exporting American technology and, along with it, American jobs,” said Kucinich.

A report in Monday’s Washington Post described the transfer of a virtual reality display system for airplane cockpits that GE is transferring to the Chinese as part of its joint venture with a Chinese state-owned company. The display system GE is transferring was originally developed using Synthetic Vision technology created by NASA in partnership with private industry. NASA has committed millions of dollars to pursue development of synthetic vision systems.

Kucinich added, “American taxpayers subsidized the development of this advanced technology, but U.S. taxpayers’ investment will end up creating jobs in China. In the short term, GE is selling products to the Chinese, which will help GE’s bottom line. In the long term, the Chinese will end up manufacturing and selling products using the same technologies that were made in America.”

“The United States has long been the leader in aerospace development and manufacturing. We have the best-trained, most skilled workers which give American-made aerospace products a natural competitive advantage. How can Mr. Immelt be the head of the President’s ‘Jobs and Competiveness Council’ while undermining the United State’s advantage in aerospace?” asked Kucinich. “In light of these revelations, Mr. Immelt should save the President the embarrassment of asking him to step down and voluntarily resign.”

GE has aggressively sought to cut the percentage of its American profits paid to the I.R.S., paying just a third of the average taxes paid by other American multinational companies. In 2000, 54% of General Electric’s employees worked in the U.S. That number dropped to 46% in 2010. Since Mr. Immelt assumed office on September 7, 2001, GE has cut one-fifth of its U.S. work force while increasing overseas employment.

“Obviously he is more qualified to be head of ‘Jobs and Competitiveness’ for a country other than the United States,” Kucinich concluded.

That’s right.  The same Obama who constantly demagogues that corporations should “pay their fair share” blah blah blah has as his top guy a CEO who paid ZERO in income taxes as his company used every single crony capitalist loophole under the sun.

That kind of hypocrisy and stupidity counts as “genius” in Obama’s America.

Apparently, Obama isn’t up to the challenge of actually creating any shovel ready jobs in America (and see also here).  So he’s creating them in China with American money instead.

Hey, I’ve got an idea.  Obama could listen to Paul Krugman and lie to the American people about a space alien invasion to fearmonger them into even MORE useless Keynesian spending.  That would be just plain brilliant.  At least if you are an utterly clueless liberal who is utterly blind to reality.

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AP-Reported FACT: U.S. Economy The Worst Since The LAST Time We Let A Socialist Run It

July 11, 2011

The Los Angeles Times print edition ran this story on July 2 under the considerably more Marxist headline, “Wealthy benefit from recovery as workers struggle“:

U.S. Recovery’s 2-Year Anniversary Arrives With Little To Celebrate
First Posted: 07/ 1/11 05:33 PM ET Updated: 07/ 1/11 05:33 PM ET

WASHINGTON (AP) — This is one anniversary few feel like celebrating.

Two years after economists say the Great Recession ended, the recovery has been the weakest and most lopsided of any since the 1930s.

After previous recessions, people in all income groups tended to benefit. This time, ordinary Americans are struggling with job insecurity, too much debt and pay raises that haven’t kept up with prices at the grocery store and gas station. The economy’s meager gains are going mostly to the wealthiest.

Workers’ wages and benefits make up 57.5 percent of the economy, an all-time low. Until the mid-2000s, that figure had been remarkably stable — about 64 percent through boom and bust alike.

[…]

But if the Great Recession is long gone from Wall Street and corporate boardrooms, it lingers on Main Street:

Unemployment has never been so high — 9.1 percent — this long after any recession since World War II. At the same point after the previous three recessions, unemployment averaged just 6.8 percent.

The average worker’s hourly wages, after accounting for inflation, were 1.6 percent lower in May than a year earlier. Rising gasoline and food prices have devoured any pay raises for most Americans.

The jobs that are being created pay less than the ones that vanished in the recession. Higher-paying jobs in the private sector, the ones that pay roughly $19 to $31 an hour, made up 40 percent of the jobs lost from January 2008 to February 2010 but only 27 percent of the jobs created since then.

[…]

Hard times have made Americans more dependent than ever on social programs, which accounted for a record 18 percent of personal income in the last three months of 2010 before coming down a bit this year. Almost 45 million Americans are on food stamps, another record.

[…]

Because the labor market remains so weak, most workers can’t demand bigger raises or look for better jobs.

“In an economic cycle that is turning up, a labor market that is healthy and vibrant, you’d see a large number of people quitting their jobs,” says Gluskin Sheff economist Rosenberg. “They quit because the grass is greener somewhere else.”

Instead, workers are toughing it out, thankful they have jobs at all. Just 1.7 million workers have quit their job each month this year, down from 2.8 million a month in 2007.

The toll of all this shows in consumer confidence, a measure of how good people feel about the economy. According to the Conference Board’s index, it’s at 58.5. Healthy is more like 90. By this point after the past three recessions, it was an average of 87.

How gloomy are Americans? A USA Today/Gallup poll eight weeks ago found that 55 percent think the recession continues, even if the experts say it’s been over for two years. That includes the 29 percent who go even further — they say it feels more like a depression.

Allow me to start with the second paragraph in the story:

“Two years after economists say the Great Recession ended, the recovery has been the weakest and most lopsided of any since the 1930s.”

The weakest and most lopsided of any recovery since the 1930s, you say???

WHO WAS PRESIDENT IN THE 1930s?  WHICH PARTY DOMINATED BOTH THE HOUSE AND THE SENATE IN THE 1930s?

And next let me ask you, “Are there any similarities between socialist Democrat Franklin Delano Roosevelt and socialist Democrat Barack Hussein Obama???  And the answer is, “HELL YES THERE ARE!!!”:

Which is to say, “This is the worst the U.S. economy has ever been since the LAST time we had a socialist just like FDR – and the mainstream media proudly hailed Obama as FDR and Obama’s as a NEW “New Deal.”

But here’s the truth:

FDR prolonged — not ended — great depression

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt. After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

”Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. ”We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”

In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.

[…]

”The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. ”Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”

And of course all the “experts” the mainstream media love to trot out have all bought hook, line and sinker the notion that capitalism is something to be loathed and feared.  So they demand that America pursue asinine government stimulus policies that fail even by the “experts'” own standards, and then these same “experts” proceed to argue that the economy failing to recover somehow is proof that more of the same thing that already failed is necessary.

These “experts” whom the mainstream media give a loud microphone to to espouse their socialist views are pathologically incapable of seeing this connection between socialist policies and an economy in the doldrums.  Every bit of negative economic news is invariably “unexpected” (liberals favorite adjective to wave a hand at bad economic developments whenever a Democrat president is in charge), because these “experts” cannot separate the inevitable results of their ideology from their terribly failed ideology.  There has to be a disconnect, or more commonly, a scapegoat.

I can simply re-cite my conclusion from a previous article to find a particularly laughable example of this phenomena:

I think of the Soviet Union, which literally blamed the total failure of their entire political philosophy and the ruinous policies that philosophy entailed by claiming that their agricultural output had been adversely affected due to 72 years of bad weather.  And the Soviet Union has gone the way of the Dodo bird for that very reason.

Is America under Obama the next Dodo bird to fall apart while we’re assured that everything is fine while some suitable scapegoat bears the blame for every failure that can’t be ignored???

It couldn’t be the fact that socialism is nothing more than state-planned economic failure.  It had to be something else, ANYTHING else.

The Big Brother from the novel 1984 had Emmanuel Goldstein.  The Big Brother who is now occupying our White House has George W. Bush.

The next obvious question to ask and answer is, “Why are the wealthy benefitting while the workers struggle?”

The answer is twofold: 1) because when you attack the employers, the first thing to go is the employees and 2) because that’s exactly how crony capitalism works.

There is a magnificent book entitled, New Deal Or Raw Deal?  How FDR’s Economic Legacy Has Damaged America, which should be required reading.  Burton Folsom Jr. points out that when FDR structured his many policies and regulations that strangled economic growth, he did so in such a way that favored the big crony capitalist corporations at the expense of the smaller businesses that could no longer compete given the costly regulatory requirements.  The smaller businesses were forced out of the market while the big businesses protected themselves with insider deals based on access to and influence with the government that only they could afford.  And there is no question whatsoever that – even as FDR employed the class warfare of socialism – the rich got richer while the poor got poorer.  Income tax revenues plunged as the wealthy sheltered their wealth from the high tax rates and the poor paid an increasingly high overall percentage of tax revenues via excise taxes.  Regulations mandating higher pay for workers priced those workers right out of their jobs.  Folsom provides the official data to back it up.

Check out this fact from page 127 of New Deal or Raw Deal?:

In 1929, prior to FDR demonizing the rich, income taxes accounted for 38% of total revenue collected, and corporate income taxes accounted for 43%.  Excise taxes which burdened the poor only counted for 19% of revenues.  By 1938, the rich and the corporations had protected themselves from FDR’s demagogic tax policies (but the poor couldn’t), such that the only 24% was collected in income taxes (versus 38%) and only 29% from corporate income taxes (versus 43%).  Meanwhile the poor-punishing excise taxes (e.g. gasoline tax) soared from 19% to 47% of the total taxes collected.  Meanwhile, when income taxes were kept low, the wealthy invariably paid FAR MORE in the total tax revenue as they put their money out to invest in and expand the economy in pursuit of the profits.  And they created millions of jobs in doing so.

And guess what?  Regulations mandating higher wages are STILL killing jobs now that Obama is doing it.

And the exact same mindset is yielding the exact same results ALL OVER AGAIN.  Obama has put the fear of God (actually the fear of the Soviet-style STATE) into the wealthy and the corporations.  They keep hearing Obama demagogue them, and they keep sheltering their money.  And they will CONTINUE to keep doing that until the threat of Obama is gone.  Just like they did with FDR.

Here we are today, with “the New FDR,” Barack Obama.  Who is the top dog on Obama’s economic team?  Why lo and behold, it is none other than GE CEO Jeffrey Immelt, crony capitalist extraordinaire whose big corporation has REPEATEDLY benefitted from a cozy insider relationship with big government.  And consider how Obama literally took big auto makers GM and Chrysler away from their legitimate shareholders and gave them to big unions.

Regarding “crony capitalism,” I made a sweeping statement in a previous article:

That said, there is also a deliberate and fundamental misunderstanding of fascism by the left.  If you read leftists, you come away thinking that somehow “fascism” is the takeover of a state by corporations. But stop and think: Hitler, Himmler, Eichmann, Hess and all the other key Nazis WEREN’T corporate CEOs who took over the state; THEY WERE SOCIALIST POLITICIANS WHO TOOK OVER THE CORPORATIONS.  They usurped the corporations and FORCED them to perform THEIR agenda.  They either performed the Nazis’ will or they were simply taken away from their rightful owners and nationalized.

And to the degree that German crony capitalist corporations helped Hitler in his rise to power, THEY WERE JUST MORE USEFUL IDIOTS.

The same sort of takeover of German corporations by socialists is building in America.  Take Maxine Waters, a liberal Democrat, as the perfect example.  What did she say of the oil companies?

“This liberal will be all about socializing … uh uh … would be about … basically … taking over … and the government running all of your companies.”

THAT’S what Hitler did, too.  Hitler got this power through regulations that required corporations to do his bidding, just like Obama has now REPEATEDLY done.

And then consider how willing Maxine Waters used “crony capitalism” (which is the essence of developing fascism) to directly personally benefit even as she shaped the banking industry.

The Democrat party is the party of socialism.  It is the party of Marxism.  It is the party of fascism.

I stand by that sweeping statement.  People need to realize that “Nazi” stood for “National SOCIALIST German Workers Party,” and that both Nazi socialism and Soviet socialism were big government socialist tyrannies that failed their people.  As to our own experiment with socialism here in the USA, I point out in an article that explains how “Government Sponsored Enterprises” Fannie Mae and Freddie Mac policies led us into economic implosion in spite of warnings for YEARS prior to the 2008 economic collapse:

But rigid opposition from Democrats – especially Democrats like Senator Barack Obamawho took more campaign money from Fannie and Freddie and dirty crony capitalism outfits like corrupt Lehman Bros. than ANYONE in his short Senate stint – prevented any “hope and change” of necessary reform from saving the US economy.

The timeline is clear: Fannie Mae and Freddie Mac were giant behemoths that began to stagger under their own corrupt weight, as even the New York Times pointed out:

Fannie Mae and Freddie Mac are so big — they own or guarantee roughly half of the nation’s $12 trillion mortgage market — that the thought that they might falter once seemed unimaginable. But now a trickle of worries about the companies, which has been slowly building for years, has suddenly become a torrent.

And it was FANNIE and FREDDIE that collapsed FIRST before ANY of the private investment banks, which collapsed as a result of having purchased the very mortgaged backed securities that the Government Sponsored Enterprises SOLD THEM.  It wasn’t until Fannie and Freddie collapsed that investors began to look with horror at all the junk that these GSE boondoggles had been pimping.

The man who predicted the collapse in 1999 wrote a follow-up article titled, “Blame Fannie Mae and Congress For the Credit Mess.”  It really should have read, “Blame DEMOCRATS.”  Because they were crawling all over these GSEs that they had themselves created like the cockroaches they are.  But Wallison is nonpartisan

Barack and Michelle Obama have a documented personal history of crony capitalism:

The Chicago way is a very, very ugly way.  And Obama has been in it up to his eyeballs.  Chicago is a dirty place filled with dirty politicians – and Obama was perfectly at home with all the dirt.

That Chicago corruption extends right into Obama’s home, by way of his wife Michelle.  This is a woman who sat on high-paying boards in direct quid-pro-quo consequences of Obama advancing in public office.  And in some of those boards, she participated in the worst kind of hospital patient-dumping.

Here’s a video of Michelle Obama you ought to watch – if you can stand the revelations:

Too bad we voted to nationalize the Chicago Way.

I also pointed out that when you attacked employers, the ones who would be hit the most and the hardest would be EMPLOYEES.

Take a look at what’s happening to small businesses, which create at least half of all the jobs in America, under Obama.  How about the fewest new business startups since the Bureau of Labor Statistics began tracking it:

Through the 12 months ended in March of last year, 505,473 new businesses started up in the U.S., according to the latest data available from the Bureau of Labor Statistics. That’s the weakest growth since the bureau started tracking the data in the early 1990s. It’s down sharply from the record 667,341 new businesses added in the 12 months that ended in March 2006.

And we can tie this right back to crony capitalism, as Obama has created a system in which larger businesses are protected against the threat of competition from smaller businesses:

Many times large corporations will even lobby for more regulations  for their  own industry because they know that they can handle all of the  rules and  paperwork far easier than their smaller competitors can.   After all, a  large corporation with an accounting department can easily  handle filling out a  few thousand more forms, but for a small business  with only a handful  of employees that kind of paperwork is a major  logistical nightmare.

When it comes to hiring new employees, the federal government has  made the  process so complicated and so expensive for small businesses  that it is  hardly worth it anymore.  Things have gotten so bad that more  small  businesses than ever are only hiring part-time workers or  independent  contractors.

So what we actually have now is a situation where small businesses  have lots of incentives not to hire more workers, and if they really do need some extra help the rules make it much more profitable to do  whatever you can to keep from bringing people on as full-time   employees.

And who do all these rules and regulations hurt the most but the very people Democrats cynically and deceitfully claim they are trying to help?  Meanwhile, who does it help the most but the crony capitalist corporations who DON’T do most of the hiring in America who can profit from Obama’s war on business that results in the destruction of their small business competition.

A recent report by the National Federation of Independent Business points out that small businesses are planning to SHRINK rather than EXPAND their payrolls under Obama.  From the New York Times:

A Slowdown for Small Businesses
By CATHERINE RAMPELL
Published: June 14, 2011

In the latest sign that the economic recovery may have lost whatever modest oomph it had, more small businesses say that they are planning to shrink their payrolls than say they want to expand them.

That is according to a new report released Tuesday by the National Federation of Independent Business, a trade group that regularly surveys its membership of small businesses across America.

The federation’s report for May showed the worst hiring prospects in eight months. The finding provides a glimpse into the pessimism of the nation’s small firms as they put together their budgets for the coming season, and depicts a more gloomy outlook than other recent (if equally lackluster) economic indicators because this one is forward-looking.

While big companies are buoyed by record profits, many small businesses, which employ half of the country’s private sector workers, are still struggling to break even. And if the nation’s small companies plan to further delay hiring — or, worse, return to laying off workers, as they now hint they might — there is little hope that the nation’s 14 million idle workers will find gainful employment soon.

“Never in the 37-year history of our company have we seen anything at all like this,” said Frank W. Goodnight, president of Diversified Graphics, a publishing company in Salisbury, N.C. He says there is “no chance” he will hire more workers in the months ahead.

“We’re being squeezed on all sides,” he says.

So let me ask again the question that the Los Angeles Times phrased: “Why are the wealthy benefitting from the ‘recovery’ as workers struggle?

And the answer is simple: because Barack Obama and the Democrat Party are socialist who have destroyed the engine that creates the jobs that workers depend upon to flourish.

An interesting fact is that businesses are now forced to spend $1.7 TRILLION a year in regulatory compliance costs.  That is a massive hidden tax on their viability; it exceeds the overt income taxes businesses have to pay, and it most certainly exceeds their profits.  And right now Obama is attacking them via the Dodd-Frank regulatory legislation, via the EPA, via OSHA, via ObamaCare and via the ridiculous actions of the NLRB in addition to their tax burden.  Just to name a few.  The result is businesses terrified to expand and further place their necks under Obama’s axe blade.

Meanwhile, Obama’s socialist policies have not only devastated the worker by destroying his jobs, but they’ve ruined America on numerous other levels, too.  Take the housing crisis – which was THE cause of the economic implosion of 2008.  Did Obama make it better?  Well, here’s a headline for you from CNBC: “US Housing Crisis Is Now Worse Than Great Depression.”  Which is to say that Democrats – who first created the housing crisis by refusing to allow the regulation of their pet socialist wealth redistribution agencies Fannie Mae and Freddie Mac – took something awful and turned it into an American Dream-massacring nightmare.

The latest job figures simply further document my point: Obama is destroying America job by job.  Not only did the unemployment rate go up to 9.2% (Obama promised the American people that the unemployment rate would be 7.1% by now if he got his massive government-spending stimulus); not only were the previous two month figures adjusted DOWNWARD by some 45,000 jobs; not only have a third of the unemployed been unemployed for at least a YEAR with fully half of the unemployed having been unemployed for over six months (which is unprecedented); not only did the economy create an incredibly dismal 18,000 jobs (versus the 100,000 the economists naively expected); but a quarter million more people simply walked away from the workforce entirely – abandoning any hope that Obama will do anything more than crush their hopes of finding a job.

Obama And Liberal Democrat Ally General Electric Paid NO Taxes Last Year And In Fact Was GIVEN Money By Government

March 28, 2011

Before we get to our main story, let’s do a little recent historical review.

First of all, G.E.has been a key Obama ally, and GE CEO Jeffrey Immelt is basically even working for Obama:

Obama Names GE CEO Immelt As Economic Adviser
January 21, 2011

President Obama wants to cast some light on economic success stories in the shadows of a slow recovery. And he is looking to find some more.

On Friday, the president travels to Schenectady, N.Y., birthplace of the General Electric Co., to showcase a new GE deal with India and announce a restructured presidential advisory board to focus on increasing employment and competitiveness.

Obama is naming GE CEO Jeffrey Immelt as the head of a Council on Jobs and Competitiveness. The panel replaces Obama’s Economic Recovery Advisory Board, which had been chaired by former Federal Reserve Chairman Paul Volcker. Obama announced late Thursday that Volcker, as expected, was ending his tenure on the panel.

Then there’s the fact that G.E. has been a MASSIVE beneficiary of the Obama- and Democrat-imposed radical so-called “green” agenda:

Undisclosed NBC Conflict of Interest Again Arises in Annual ‘Green Week’
By Lachlan Markay | November 16, 2010 | 16:47

On Sunday, NBC Universal launched its annual “Green Week,” as part of the company’s “Green is Universal” environmental awareness campaign.

As NBC embarks on yet another week of “environmentally themed programming,” it falls to media watchdogs to point out the massive conflict presented by NBC parent company General Electric’s significant financial interests in the policies “Green Week” indirectly advances.

GE stands to make millions from Democrats’ “clean energy” agenda. The company has invested massive amounts of money in technology that can only be profitable through government intervention or subsidization.

Put these two facts together and what do you get?

Now consider this, stupid, depraved fools (i.e., anyone who calls themselves a “Democrat” and says that evil corporate greed comes from Republicans:

G.E.’s Strategies Let It Avoid Taxes Altogether
By DAVID KOCIENIEWSKI
Published: March 24, 2011

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.

Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.

While General Electric is one of the most skilled at reducing its tax burden, many other companies have become better at this as well. Although the top corporate tax rate in the United States is 35 percent, one of the highest in the world, companies have been increasingly using a maze of shelters, tax credits and subsidies to pay far less.

In a regulatory filing just a week before the Japanese disaster put a spotlight on the company’s nuclear reactor business, G.E. reported that its tax burden was 7.4 percent of its American profits, about a third of the average reported by other American multinationals. Even those figures are overstated, because they include taxes that will be paid only if the company brings its overseas profits back to the United States. With those profits still offshore, G.E. is effectively getting money back.

So we’ve got a giant mega-corporation whose top leadership is clearly in the pocket of the Democrat Party and which has clearly benefitted from the Democrat Party agenda.

And lo and behond, it turns out that not only do these piles of quivering un-American slime at GE not pay taxes, but Obama actually has the naked chutzpah to reach into the American people’s pocket and say, “We owe you this, Mr. Immelt.”

Now, this would be loathsome and indefensible enough it GE was a rightwing corporation.  But understand that Democrats are continually demonizing Republicans as being “the party of corporate greed” when in fact THEY are the real winners at the corporate greed game.

Democrats calling Republicans “corporate shills” is like Yassar Arafat calling Ronald Reagan “anti-Jew”; the label only works if you are an idiot on every level imaginable.

Want more?  Feed on this:

Here’s one among thousands of examples: Incandescent light bulbs are far more convenient and less expensive than compact fluorescent bulbs (CFL) that General Electric now produces. So how can General Electric sell its costly CFLs? They know that Congress has the power to outlaw incandescent light bulbs. General Electric was the prominent lobbyist for outlawing incandescent light bulbs and in 2008 had a $20 million lobbying budget. Also, it should come as no surprise that General Electric is a contributor to global warmers who help convince Congress that incandescent bulbs were destroying the planet.

The greater Congress’ ability to grant favors and take one American’s earnings to give to another American, the greater the value of influencing congressional decision-making. There’s no better influence than money. The generic favor sought is to get Congress, under one ruse or another, to grant a privilege or right to one group of Americans that will be denied another group of Americans.

And guess what?  As soon as Democrats took over Congress that’s exactly what they did: they criminalized incandescent light bulbs and made GE’s mercury-laden CFL bulbs the “Big Brother” alternative.

GE gave $20 million to Democrats.  But don’t worry, Democrats took money right out of your and your children and grandchildren’s pockets to pay back their corporate pals with their usual array of shennanigans.

And the only thing that is more despicable than that is that all the while they’re doing all this, Democrats are constantly demonizing Republicans.

Hypocrisy is the quintessential defining essense of liberalism.  Pure and simple.

Massachusetts Senate Candidate Martha Coakley’s Vote ALREADY Bought And Paid For

January 12, 2010

Is it Massachusetts or Massachusettes?  No matter.  Not as long as all those pharmaceutical and insurance industry lobbyists spell Martha Coakley’s name right on all those fat checks they’re writing to buy her election.

The line of the evening during last night’s debate as reported by Politico:

David Gergen pressed Scott Brown on health care and the Kennedy legacy last night, producing a memorable exchange:”With all due respect, it’s not the Kennedy seat and it’s not the Democrat’s seat — it’s the people’s seat,” Brown says.

But that’s not true at all if Brown’s opponent wins.

If Martha Coakley wins, it will be PhRMA’s seat.  It will be Pfizer’s, Bristol-Myers Squibb’s, Astra-Zenaca’s, Blue Cross’, United Health’s, and numerous other pharmaceutical and insurance company’s seat.

This campaign has taken an amazing turn, particularly in the utter incomprehension of Democrats that the American people have genuinely turned against them.

The greatest signal of disconnect may have happened last night, when Democrat candidate Martha Coakley went to Washington to attend a fund raiser with more than 50% of the guest list coming from big Pharma (PhRMA).

Here is a video compendium of Barack Obama from 8 separate occasions saying he would make health care negotiations public by televising them on C-SPAN:

And here is Barack Obama from one of those 8 promises:

“we’ll have the negotiations televised on C-SPAN, so the people can see who is making arguments on behalf of their constituents and who is making arguments on behalf of the drug companies or the insurance companies.”

And the man and the party that made that promise have instead buried their health care boondoggle into total secrecy to hide the bribes and corruption going on.

John McCain’s heated exchange with Democrat Senator Max Baucus nakedly reveals the reality as to which party “is making arguments on behalf of the drug companies or the insurance companies”:

Mr. McCAIN. My response is, I don’t know what deal has been cut in Senator Reid’s office, as the deal was cut with the pharmaceutical companies and the deal was cut with the AMA and the deal was cut with the hospital association. But I know what the effect is. I know what the effect is. The bill would slice $55 billion—-

Mr. BAUCUS. This is not on my time because he is going to filibuster over there.

Mr. McCAIN. The House bill would slice $55 billion over 10 years for projected Medicare spending on home health services while the Senate bill would take $43 billion. I know that. But I don’t know the details of the deal that was cut over where the white smoke comes out. I don’t know what the deal was. I know what the deal was with PhRMA. I know what the deal was with PhRMA. They told them they would oppose drug reimportation from Canada, and they told PhRMA they would not allow competition for Medicare patients.

So I don’t know the deal that was cut that bought them, but I know deals have been going on, and I know they are unsavory. I know people, such as the lady who was just referred to, Bertha Milliard, are not too interested in seeing their home health care cut.

Mr. BAUCUS. If the Senator will yield, with time being equally divided on both sides for this colloquy.

Mr. McCAIN. I don’t know what the deal was—-

Mr. BAUCUS. I can tell the Senator the deal. I am going to tell the Senator the deal.

The PRESIDING OFFICER. The Senator from Arizona has the floor.

Mr. McCAIN. I don’t know what the deal was, but we will find out, just like the deals that were cut with all of these other organizations.

Mr. BAUCUS. I will tell the Senator what the deal was.

Mr. McCAIN. This place is full of lobbyists. I can’t walk through the hallway without bumping into one of their lobbyists. If the Senator keeps interrupting, he is violating the rules of the Senate. He needs to learn the rules of the Senate.

Did someone say lobbyists?  Did someone talk about pharmaceutical and insurance lobbyists being thick as fleas, and Democrats cutting one deal after another with them?

Well, last night a lot of these lobbyists quit flocking around the hallways of the Capital and instead flocked around Martha Coakley to shower her with campaign money.

Martha Coakley promises you, the American people, that if you trust her with the power and prestige of the United States Senate, she will be one more politician in the pockets of those lobbyists:

Coakley in trouble? Pharma and HMO lobbyists to the rescue

By: Timothy P. Carney
Examiner Columnist
01/09/10 1:55 PM EST

Massachusetts Attorney General Martha Coakley speaks during a news conference at her campaign headquarters in Charlestown, Mass. Monday, Jan. 11, 2010. (AP Photo/Elise Amendola)

With Democrat Martha Coakley in trouble in the Massachusetts special election to fill Ted Kennedy’s seat, Democrats could lose vote No. 60 for President Obama’s health-care bill. In response, an army of lobbyists for drug companies, health insurance companies, and hospitals has teamed up to throw a high-dollar Capitol Hill fundraiser for Coakley next Tuesday night. The invitation is here.

Of the 22 names on the host committee–meaning they raised $10,000 or more for Coakley–17 are federally registered lobbyists, 15 of whom have health-care clients. Of the other five hosts, one is married to a lobbyist, one was a lobbyist in Pennsylvania, another is a lawyer at a lobbying firm, and another is a corporate CEO. Oh, and of course, there’s also the political action commitee for Boston Scientific Corporation.

All the leading drug companies have lobbyists on Coakley’s host committee: Pfizer, Merck, Amgen, Sanofi-Aventis, Eli Lilly, Novartis, Astra-Zeneca, and more. On the insurance side of things, Blue Cross/Blue Shield, Cigna, Humana, HealthSouth, and United Health all are represented on the host committee.

Those HMOs (like Aetna) or drug companies who don’t have lobbyists in Coakley’s top tier of fundraisers? They’re covered, because the host committee includes four lobbyists representing the Pharmaceutical Researchers and Manufacturers of America (PhRMA), two representing America’s Health Insurance Plans (AHIP), and one representing the Biotechnology Industry Organization (BIO)

So think of these top donors to health-care reform’s 60th vote next time President Obama claims that he’s battling the special interests in this battle. The army listed below is on Obama’s side, and these clients will all benefit from “reform.”

Here are some of Coakley fundraiser hosts with some of their current health care clients:

  • Thomas Boggs, Patton Boggs: Bristol-Myers Squibb
  • Chuck Brain, Capitol Hill Strategies: Amgen, BIO, Merck, PhRMA
  • Susan Brophy, Glover Park Group: Blue Cross, Pfizer
  • Steven Champlin, Duberstein Group: AHIP, Novartis, Sanofi-Aventis
  • Licy Do Canto, Raben Group: Amgen
  • Gerald Cassidy, Cassidy & Associates: U. Mass Memorial Health Care
  • David Castagnetti, Mehlman, Vogel, Castagnetti: Abbot Labs, AHIP, Astra-Zenaca, General Electric, Humana, Merck, PhRMA.
  • Steven Elmendorf, Elmendorf Strategies: Medicines Company, PhRMA, United Health
  • Shannon Finley, Capitol Counsel: Amgen, Astra-Zeneca, Blue Cross, GE, PhRMA, Sanofi-Aventis.
  • Heather Podesta, Heather Podesta & Partners: Cigna, Eli Lilly, HealthSouth
  • Tony Podesta, Podesta Group: Amgen, GE, Merck, Novartis.
  • Robert Raben, Raben Group: Amgen, GE.

If Coakley pulls it out, this is the crowd that will have brought her here. If health-care reform passes, this is the crew that will have won.

This amounts to the most naked and most shameless chutzpah I have ever seen.

If Martha Coakley is elected to Senate, it will be total and abject mockery of everything that Obama promised the American people.

Just to further demonstrate what a total scam Martha Coakley’s bought-and-paid-for candidacy is, she ran the usual liberal attack ad after the debate last night –

– which MISSPELLED THE STATE FOR WHICH SHE WAS RUNNING TO SUPPOSEDLY SERVE.

BOSTON (Legal Newsline) – An advertisement for Massachusetts Attorney General Martha Coakley’s senatorial campaign misspelled the name of the state Monday night.

After a three-person debate Monday night, an attack ad on Republican state Sen. Scott Brown paid for by the state’s Democratic Party spelled it “Massachusettes.”

The ad was “authorized by Martha Coakley for Senate and approved by Martha Coakley.”

“The punchlines write themselves: Before you represent a state in the Senate, shouldn’t you learn how to spell its name?” Jim Geraghty wrote for National Review Online.

We don’t know for sure who owns Martha Coakley, or who pays for her smear ads, but we know they aren’t from the state of Massachusetts.  They’re from some state called “Massachusettes,” where pathologically dishonest demagogues promise bogus utopias, but produce disaster.

If you are a Democrat and you are not ashamed of your party, I have nothing but contempt for you.