Posts Tagged ‘stimulus’

Recent Developments Continue To Prove The ‘Liberals Are Dishonest Weasels’ Theory

March 24, 2012

Tell me that Democrats care about the poor while Republicans only care about the rich and I’ll say, “Jon Corzine.”  And that’s all I really need to say, given what Corzine did (where’s that $1.6 billion you “lost,” Jon?) and given this picture of a pair of genuine weasels:

Oh, and all the quotes from Barack Obama and Joe Biden about Jon Corzine that go with that picture:

This is what Barry Hussein recently had to say about this rat bastard:

“You’ve had an honorable man, a decent man, an honest man, at the helm of this state. … He’s fought for what matters to ordinary folks.”

“People…say, ‘You know, I was saving up all my life. …. Suddenly, because of this financial crisis, I may have to go back to work.’ “

“Jon knows these are challenging times. This is why he got into public service. He didn’t do it for the paycheck.”

“This crisis…came about because of the same theories, the same lax regulation, the same trickle-down economics that the other guy’s party has been peddling for years.”

“Jon’s got the mop and he’s cleaning up after somebody else’s mess.”

• “One of the things you’ve got in Jon Corzine is somebody who tells it to you straight,” Mr Obama said.

Do you notice how Obama – that vile weasel – used Jon Corzine to demonize Republicans? Obama was actually dishonestly saying that Republicans created a mess, and that this quivering piece of slime Jon Corzine was the guy cleaning up that mess.

Let me just digress for a moment and state that Barack Obama is the most divisive, most dishonest, most hateful, most demonizing, fearmongering LIAR in American history.

Barack Obama credited Jon Corzine as the force behind his $862 billion stimulus:

“Jon’s a leader who’s been called to govern in some extraordinary times,” Obama said while campaigning for Corzine in 2009. “Jon Corzine wasn’t just the first governor to pass an economic recovery plan for his state. He was an ally with the Obama administration in helping us develop a national recovery plan.”

And here’s what Joe Biden – again representing the Obama administration – said about Jon Corzine – while he was pointing out how team Obama repeatedly asked Corzine for advice and trusted him implicitly:

“I literally picked up the phone and called Jon Corzine and said Jon, what do you think we should do,” Biden said. “The reason we called Jon is that we knew that he knew about the economy, about world markets, how we had to respond, unlike almost anyone we knew. It was because he had been in the pit — because he had been in the furnace. And we trusted his judgment.”

Again:

“Way back in the transition period, before we were sworn in, when Barack Obama and I were literally sitting at a desk in a high rise in Chicago, beginning the plan on how we would try to get this economy out of a ditch, literally, the first guy I called was Jon Corzine. It’s not a joke. It’s not a joke. First of all, he’s the smartest guy I know in terms of the economy and on finance, and I really mean that.”

That’s right, Jon Corzine was a trusted adviser to Obama and Biden. That’s why our economy is in such great shape now. And the guy who helped Obama put together the massively failed stimulus also just put together the fourth largest bankruptcy in American history as he put his liberalism to work at MF (which stands for “Managed Futures”) Global and helped himself to other people’s money.

Now the smartest guy Obama and Biden know is saying, “I don’t know where the money went.” You know, even though that was pretty much his whole JOB to know.

It bookends nicely with Obama going to Solyndra and saying – you know, just before Solyndra collapsed with more than half a billion of your money thrown into it:

 “Companies like Solyndra are leading the way toward a brighter and more prosperous future.”

And of course Obama was right: a more “prosperous future” for China because we’re going to keep paying the interest on that $535 million Obama gave to his crony capitalist buddy who raised funds for him.  And I’ll bet that Obama crony George Kaiser will be giving Obama something-something from that $535 billion stash in the form of campaign contributions.  After all, that’s what “fairness” is all about, isn’t it?

Here’s the latest story in the saga of the poster boy for the fact that everything that liberals say about caring about the little people while Republicans only care about the rich load of crap:

Corzine Corzined – Congressional Panel Finds Former MF Global CEO Ordered JPM Fund Transfer
Submitted by Tyler Durden on 03/23/2012 16:13 -0400

Then only thing that could top today’s epic market insanity and hilarity, would be that Corzine is himself about to be Corzined. And just released from Bloomberg:

  • MF GLOBAL’S CORZINE ORDERED FUNDS MOVED TO JPMORGAN, MEMO SAYS
  • CORZINE’S `DIRECT INSTRUCTIONS’ CITED BY CONGRESSIONAL PANEL
  • MF GLOBAL TRANSFER WAS USED TO COVER OVERDRAFT, PANEL SAYS
  • MF GLOBAL FINDINGS CITED IN MEMO OBTAINED BY BLOOMBERG NEWS

And so we can now add perjury to felony embezzlement. Which means we now have to wait to find just which MF’er (and JPM’er) will be given a promise of untold millions if they only get Fab Tourre’d for a few years, and spend 5-7 in minimum security state prison instead of brave Jonny.

From Bloomberg:

Jon S. Corzine, MF Global Holding Ltd.’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co. accounts in London, according to an e-mail sent by a firm executive. 

Edith O’Brien, a treasurer for the firm, said in an e-mail sent the afternoon of Oct. 28, three days before the company collapsed, that the transfer of the funds was “Per JC’s direct instructions,” according to a copy of a memo drafted by congressional investigators and obtained by Bloomberg News.

O’Brien’s internal e-mail came as the New York-based broker found intraday credit lines limited by JPMorgan, the firm’s clearing bank as well as one of its custodian banks for segregated customer funds, according to the memo, which was prepared for a March 28 House Financial Services subcommittee hearing on the firm’s collapse. O’Brien is scheduled to testify after being subpoenaed this week.

“Over the course of that week, MF Global’s financial position deteriorated, but the firm represented to its regulators and self-regulatory organizations that its customers’segregated funds were safe,” said the memo, written by Financial Services Committee staff and sent to lawmakers.

Vinay Mahajan, global treasurer of MF Global Holdings, wrote an e-mail on Oct. 28 that said JPMorgan was “holding up vital business in the U.S. as a result” of the overdrawn account, which had to be “fully funded ASAP,” according to the memo. 

O’Brien Letter

Barry Zubrow, JPMorgan’s chief risk officer, called Corzine to seek assurances that the funds belonged to MF Global and not customers. JPMorgan drafted a letter to be signed by O’Brien to ensure that MF Global was complying with rules requiring customers’ collateral to be segregated. The letter was never returned to JPMorgan, the memo said.

The money transferred came from a segregated customer account, according to congressional investigators. Segregated accounts can include customer money and excess company funds.

Corzine testified that he never intended a misuse of customer funds at MF Global, and that he doesn’t know where client funds went.

“I did not instruct anyone to lend customer funds to anyone,” Corzine told lawmakers in December.

Steven Goldberg, a spokesman for Corzine, declined immediate comment.

Oops. Of course, in Jonny’s defense there was no perjury here. The truth was merely rehypothecated.

Just remember these truths every time a Democrat repeats their tired class warfare lies.  It’s every bit as much of a lie when a Democrat says them as it was when a Stalinist said pretty much the same damn things.

Update 4/23/12: Just to document how incredibly corrupt Obama is, Jon Corzine is STILL bundling campaign money for him.

As Gasoline Prices Soar Out Of Control, Yet ANOTHER Obama Energy Boondoggle Pisses Away Taxpayer Money By Hundreds Of Millions Of Dollars

March 2, 2012

Barack Obama giving away $2 billion in stimulus money on July 4, 2010:

In fact, today, I’m announcing that the Department of Energy is awarding nearly $2 billion in conditional commitments to two solar companies.

The first is Abengoa Solar, a company that has agreed to build one of the largest solar plants in the world right here in the United States. After years of watching companies build things and create jobs overseas, it’s good news that we’ve attracted a company to our shores to build a plant and create jobs right here in America. In the short term, construction will create approximately 1,600 jobs in Arizona. What’s more, over 70 percent of the components and products used in construction will be manufactured in the USA, boosting jobs and communities in states up and down the supply chain. Once completed, this plant will be the first large-scale solar plant in the U.S. to actually store the energy it generates for later use – even at night. And it will generate enough clean, renewable energy to power 70,000 homes.

The second company is Abound Solar Manufacturing, which will manufacture advanced solar panels at two new plants, creating more than 2,000 construction jobs and 1,500 permanent jobs. A Colorado plant is already underway, and an Indiana plant will be built in what’s now an empty Chrysler factory. When fully operational, these plants will produce millions of state-of-the-art solar panels each year.

Obama’s “investment” today:

Earlier today I mentioned Energy Secretary Chu’s statement to Congress that the administration didn’t care about lowering gas prices, just pushing alternative energy. Now we have the latest failure as part of that scheme, Abound Solar Manufacturing, has announced it will lay off 70% of its workforce. The company received a $400 million loan guarantee through the Obama stimulus.

Oh, and by the way, Abound got that $400 million loan even though it was obviously a huge credit risk:

A month before Abound Solarannounced it would be laying off nearly half its workforce, Congressional Republicans alerted the U.S. Department of Energy that they had questions about the decision to loan the Colorado firm $400 million.

The House Committee on Oversight and Government Reform asked Energy Secretary Steven Chu to explain how the solar panel manufacturer had qualified for the loan after the ratings firm Fitch had determined the company would make a “highly speculative” investment.

“Fitch describes Abound as lagging in technology relative to its competitors, failing to achieve stated efficiency targets, and expecting that Abound will suffer from increasing commoditization and pricing pressures,” wrote Rep. Darrell Issa, R.-California, the committee chairman. “DOE’s willingness to fund Abound, despite these concerns, calls into question the merits of this loan guarantee.”

Obama is demonizing oil companies (you know, the people who are the only reason ordinary Americans are able to get into their cars and drive somewhere) while he continues to give away billions of dollars to his crony capitalist fascist friends at the useless green energy companies.  Oh, and he’s demonizing the $4 billion in tax breaks to oil companies that keep this country going while he is proposing to give away $5 billion more to green energy that produces virtually nothing.

That should seriously piss you off, because gas prices – you know, the stuff that the oil companies Obama demonizes produce – have more than DOUBLED under this failed president’s failed policies:

The day Barack Obama took office, the average national price of gasoline was $1.84 a gallon.

As of today, March 1, 2012, the average national price of gasoline is $3.74 a gallon.

Oh, and gasoline may very well hit $5 a gallon by Memorial Day.

While even Bill Clinton is urging the Failure-in-Chief to “embrace” the Keystone Oil Pipeline that Obama has refused to alllow even though it wouldn’t have required ONE PENNY in taxpayer money.

Beyond Solyndra – which devoured more than half of a BILLION dollars in taxpayer money before going completely bankrupt – there have been many other massive Obama failures.

Just a couple:

Green energy company given federal stimulus funds lays off 125 workers, gives pay raise to executives
Published February 26, 2012 | FoxNews.com

An electric car battery company reportedly has laid off 125 employees since receiving $390 million in government subsidies, but is still handing out big pay raises to company executives.

A123 systems, which was touted as a stimulus “success story” by former Gov. Jennifer Granholm, D-Mich., had a net loss of $172 million through the first three quarters of 2011, according to the Washington Examiner’s “Beltway Confidential” blog, citing a report from the Michigan-based Mackinac Center for Public Policy.

A123’s primary customer, Fisker Automotive, is also struggling financially. “Yet, this month A123’s Compensation Committee approved a $30,000 raise for [Chief Financial Officer David] Prystash just days after Fisker Automotive announced the U.S. Energy Department had cut off what was left of its $528.7 million loan it had previously received.”

This month has seen significant pay boosts for other A123 executives, as well, including vice presidents Robert Johnson and Jason Forcier.

The raises were reported by the company in its filings with the U.S. Securities and Exchange Commission, according to the Mackinac report.

“It looks highly suspicious,” Paul Chesser, associate fellow for the National Legal & Policy Center, told Mackinac. “It looks like they are trying to pad their top people’s wallets in case something really bad happens.”

Click to read the Washington Examiner blog.

Click to read the Mackinac Center for Public Policy report.

And far, FAR worse:

Obama Gave Billions to Green Energy Companies with Ties to His Administration and 2008 Campaign
Posted by Jim Hoft on Thursday, February 16, 2012, 1:13 PM

The RNC released this infographic today showing that billions in taxpayer dollars were were given to firms with close ties to the Obama Administration.

The Washington Post reported:

Overall, the Post found that $3.9 billion in federal grants and financing flowed to 21 companies backed by firms with connections to five Obama administration staffers and advisers.

Obama’s program to invest federal funds in start-up companies — and the failure of some of those companies — is becoming a rallying cry for opponents in the presidential race. Mitt Romney has promised to focus on Obama’s “record” as a “venture capitalist.” And in ads and speeches, conservative groups and the Republican candidates are zeroing in on the administration’s decision to extend $535 million to the now-shuttered solar firm Solyndra and billions of dollars more to clean-tech start-ups backed by the president’s political allies.

White House officials stress that staffers and advisers with venture capital ties did not make funding decisions related to these companies. But e-mails released in a congressional probe of Obama’s clean-tech program show that staff and advisers with links to venture firms informally advocated for some of those companies.

David Gold, a venture capitalist and critic of Obama’s investments in clean tech, said that even if staffers had been removed from the final decision-making, they had the kind of inside access to exert subtle influence.

“To believe those quiet conversations don’t happen in the hallways — about a project being in a certain congressman’s district or being associated with a significant presidential donor, is naive,” said Gold, who once worked at the Office of Management and Budget. “When you’re putting this kind of pressure on an organization to make decisions on very big dollars, there’s increased likelihood that political connections will influence things.”

Energy Department spokesman Damien LaVera said the companies won awards based on merit, not political connections. He said the staffers and advisory board members reviewed by the Post had no role in funding decisions, nor did they have any personal financial stake in the companies. One of those administration advisers had first been appointed to his position by the Bush administration, LaVera said…

Thousands of agency and White House e-mails released as part of the Solyndra investigation show that venture capitalists who held advisory roles with the Energy Department were given access to Obama’s top advisers.

Read the whole thing. It will make you ill.

Obama is selling this country out even while he works to implode it by starving us of energy while spending us into bankruptcy.

8 Illuminating Charts That Show How Truly Failed Obamanomics Truly Is

December 26, 2011

Is Obamanomics working?  Only if “working” means imploding America: 

The 7 most illuminating economic charts of 2011
By James Pethokoukis
December 23, 2011, 12:11 pm

My Magnificent Seven. Some bust myths. Others highlight a reality the media is ignoring. Enjoy!

1. The overly optimistic unemployment forecast of the Obama White House. This may be the most infamous economic prediction in U.S. political history (helpfully updated by The Right Sphere). For the original January 2009 chart from White House economic advisers Jared Bernstein and Christina Romer, see here.

 

2. The real unemployment rate. The official (U-3) unemployment rate is 8.6 percent. But the labor force has been shrinking as discouraged workers have been disappeared by government statisticians rather than counted as unemployed. But what if they weren’t? What if the Labor Department added those folks back into the numbers? Well, you would get this:

3. Middle-class incomes have been stagnant for decades—not. It is an oft-repeated liberal talking point, one that President Obama himself used in his populist Osawatomie Speech: The rich got richer the past 30 years while the middle-class went nowhere. In short, the past few decades of lower taxes and lighter regulation have been a failure. Or, rather, pro-market policies have been a failure … except that new research from the University of Chicago’s Bruce Meyer and Notre Dame’s James Sullivan find that “median income and consumption both rose by more than 50 percent in real terms between 1980 and 2009.”

4. Inequality has exploded—not. According to the MSM and liberal economists, U.S. inequality has exploded to levels not seen since the 1920s or perhaps even the Gilded Age of the late 19th century. And to prove their point—that the 1 percent has gotten amazingly richer in recent decades—the inequality alarmists will inevitably trot out a famous income inequality study from economists Emmanuel Saez and Thomas Pike. But why not instead look at wealth—all financial and nonfinancial assets—instead of income? It’s less volatile and a truer measure of all the economic resources at an individual’s command. Turns out that Saez has done research on that subject, too. And he even created a revealing chart documenting the ups and downs of U.S. wealth over the past century. It reveals a very different picture of inequality in America:

5. and 6. The underwhelming Obama recovery. When you compare the current recovery to those of the past, it looks pretty anemic. And it doesn’t matter if you look at GDP growth or unemployment (via The Economist).

 

 

7. America’s debt picture is worse than you think. If you factor in the long-term impact of rising federal debt on U.S. interest rates and economic growth—raising borrowing costs and lowering tax revenue—you’ll find that federal debt could be almost 50 percent higher by 2035 than the estimates usually bandied about in the media.

 

I’ll give you another chart as an extra bonus.  It demonstrates the inconvenient fact that Obama’s VERY BEST month in terms of unemployment is signifantly worse than George Bush’s WORST month:

The truth is that Obama has lost 2.5 million jobs since he took office. The truth is these  jobs have simply ceased to exist under Obama, as measured by the diminishing labor participation rate. The truth is that if Obama were measured by the same labor participation rate that Bush was measured by when he left office, unemployment would be at over 11.3% (according to an analysis by Reuters), rather than the 8.6% Obama is being lauded for by media propaganda. I mean, dang, the truth is that even liberal Ezra Klein affirms that the real unemployment rate ought to be 11 percent.

We live in an age where awful is massaged and manipulated by a modern Ministry of Truth to be wonderful.

http://seg.sharethis.com/getSegment.php?purl=http%3A%2F%2Fstartthinkingright.wordpress.com%2Fwp-admin%2Fpost-new.php&jsref=&rnd=1324936189264

Meet Barack Obama – Worst Failure, Biggest And Most Arrogant Narcissist – In History. And Then Meet Reality.

December 21, 2011

Meet Barry Hussein:

I would put our legislative and foreign policy accomplishments in our first two years against any president – with the possible exceptions of Johnson, F.D.R. and Lincoln, just in terms of what we’ve gotten done in modern history.” — Barack Obama, in 60 Minutes interview with Steve Kroft

Here’s the youtube:

He’s too humble.  He isn’t the fourth best; he’s the best of all the best.  At being an arrogant, patholotical narcissist who is so in love with himself that all the failure in the world isn’t enough to make him question even for a moment that he is the messiah, and the only messiah with whom we should have to do.

Obama’s two signature “accomplishments” are his “stimulus” and what is most appropriately called ObamaCare.  They are both so rotten and so unpopular that he is not mentioning them AT ALL as he runs for re-election.

As for the stimulus:

In early 2009, shortly before his inauguration as president, Barack Obama used a radio address to urge Congress to pass a massive federal “stimulus.”

“I asked my nominee for chair of the Council of Economic Advisers, Dr. Christina Romer, and the vice president-elect’s chief economic adviser, Dr. Jared Bernstein, to conduct a rigorous analysis of this plan and come up with projections of how many jobs it will create — and what kind of jobs they will be,” Mr. Obama said during that address. “Today, I am releasing a report of their findings so that the American people can see exactly what this plan will mean for their families, their communities and our economy.”

OK, so what “exactly” did Mr. Obama and his advisers think the stimulus — whose price tag hit $862 billion — would accomplish?

Well, they said the stimulus would hold unemployment below 8 percent, and that joblessness would steadily drop to less painful levels in coming months and years. By now — December 2011 — unemployment if the stimulus passed was supposed to have dropped to about 6 percent, according to the administration’s projections.

Did it work out that way?  Hardly.

Today’s unemployment rate is 8.6 percent — far higher than it was supposed to be by now if the stimulus passed. In fact, unemployment today is higher than the Obama administration predicted it would be even if the stimulus did not pass!

And that’s only the tip of the iceberg. Joblessness has now been higher than 8 percent for 34 straight months — a record not seen since World War II!

That raises an obvious question: If the first stimulus failed so miserably to do what the president said it would do, why should any consideration whatsoever be given to the idea of a second stimulus?

Fwiw, the “about 6 percent” is a rounded figure; in fact, Obama predicted it would be 5.8% by now if he got his stimulus got passed.

Obama is reduced to making an argument that itself manifest his collossal “God’s gift to not only women but hell, all mankind!” view of himself: he is saying that without him and his stimulus, we would have plunged into the Great Depression.  [Let’s forget the fact that, when it comes to housing – the thing that created the economic collapse in 2008 – Obama has LED US INTO THE GREAT DEPRESSION.]

Which is kind of like George W. Bush saying that if he hadn’t been president, space aliens would have invaded and the entire human race would have been eradicated.

The problem with this liberal analysis – other than the fact that the president is a dangerous mentally-ill malignant narcissist – is that it assumes what it is seeking to prove: Keynesian economics works, that’s just a statement of religious faith, and therefore Keynesianism clearly must have worked.

Even if the Obama Keynesian stimulus utterly failed to come anywhere even close to matching their predicted claims of grandeur.

We saw the hypocrisy of the excuses when the stimulus was such a failure that Obama stated claiming that he’d created “or saved” jobs.

Harvard economics Professor Gregory Mankiw said, “There is no way to measure how many jobs are saved.” Allan Meltzer, professor of political economy at Carnegie Mellon University said “One can search economic textbooks forever without finding a concept called ‘jobs saved.’ It doesn’t exist for good reason: how can anyone know that his or her job has been saved?”

Such a barometer had NEVER been used in American history for good reason.  And if Bush had tried to use it to claim that his agenda was really working out – just look at how many jobs he’d “saved” – the media would have rightly been all over him as a liar from hell for trying to pass such absurdity off.

But not now.  Obama is messiah.  He cannot be wrong.  If the stimulus clearly didn’t work on the physical level of reality, then it must have worked on the metaphysical level.

The unemployment rate has gone down, but it has “gone down” with the massive caveat that nearly three people are giving up and abandoning the workforce completely (which means they no longer count against Obama’s unemployment record) for every one who actually finds a job.

The truth is that Obama has lost 2.5 million jobs since he took office.  These jobs have simply ceased to exist under Obama, as measured by the labor participation rate.  The truth is that if Obama were measured by the same labor participation rate that Bush was measured by when he left office, unemployment would be at over 11.3% (according to an analysis by Reuters), rather than the 8.6% Obama is being lauded for by media propaganda.  I mean, dang, even liberal Ezra Klein affirms that the real unemployment rate ought to be 11 percent.

But Obama doesn’t have to worry.  The number has gone down – no matter how falsely that number is calcuated or what it hides – and the mainstream media says Obama is doing a wonderful job.

If you look at the monthly unemployment numbers, Obama’s BEST month of unemployment is far worse than Bush’s WORST month of unemployment:

But DNC Chair Debbie Wasserman Schultz is actually able to get on TV and claim that unemployment didn’t go up under Obama.  Because she is a liar from the party of liars who represent the king of all liars.

Take a look at what Obama has done for “employment” with the teens he promised to help with his mandatory minimum wage hike that priced most young workers right out of jobs.  Not that Obama gives a damn.  He “saved” them.  He’s moved on.

And, oh, by the way, when Obama compares himself to FDR, it should be pointed out that FDR massively failed to do anything more than utterly sabotage our economy just as Obama has done.

Take ObamaCare.  Please, as the comics say.  It is horribly unpopular, it will cost FAR more than the lying liberals and their false messiah said it would.  And hopefully it will soon be overturned as UNCONSTITUTIONAL by the Supreme Court.

We are at historic levels of unemployment, our nation having never seen such a disgrace since the last time a socialist ran the country.  The misery index is the highest it has EVER beenWe are at Great Depression levels in our housing situation.  But don’t worry; to an arrogant malignant narcissist like Obama, all these things and many others are just “bumps in the road” compared to his majestic wonderfulness.  If it isn’t Republicans’ faults that Obama has failed so wildly, it’s YOUR fault.  You are, in Obama’s words, lazy.  And soft.  And if you are a conservative, a racist small-minded religious bigot bitterly clinging to his guns and his antipathy for people who don’t look just like him.

None of it matters. Only Obama matters. He is the center of his own universe, and he’s doing fine.

P.S. Here’s another “fwiw”: I did a quick search for Obama’s “lazy” remark.  I actually couldn’t find it.  Do you know why?  I couldn’t find it because there were so many mainstream media “journalists” who rushed out to say that Obama really didn’t say what it sounded like he said after Obama said it.  But if George W. Bush had said the same damn thing, don’t not believe for a millisecond that the same journalists who said Obama didn’t call Americans’ lazy and soft wouldn’t have been saying that Bush just said Americans were lazy and soft.

We are watching what is happening in the socialist People’s Republic of North Korea right now.  It’s not “the people’s,” as the claim of socialism always promises; it was Kim Jong Il’s “republic” – and now that “people’s republic” belongs to his idiot son.  This is a country that deep inside a socialist dark age, to such an extent that the country is literally completely dark at night from space.  Millions of North Koreans have starved to death.  The country is told to continue being faithful to socialism.  While a few such as Kim Jong Il dine on imported caviar, drink imported champagne and entertain themselves with their favorite Western prostitutes and films.

But what does their press tell them? That their “Dear Leader” is doing a wonderful job taking care of them.  And the North Korean “mainstream media” did everything it could to preach that gospel.

We’ve seen that same thing in every socialist regime – from the Nazis (that’s national socialism) to the communists (that’s international socialism).  And we have seen it in our own socialist regime that Democrats and their media propagandists have been trying to erect for years.

We live in the days just before Antichrist. He will require everyone to take his mark, and every single human being on earth will have to take that mark or he or she won’t be able to buy food or anything else (Revelation 13:15-18). And when that time comes, the media will be assuring us that taking the mark will be a good thing, and that the people who won’t accept it are bad people who should be killed.

The astonishing deceit you are seeing on the media every single day is just one more proof that those coming days are soon at hand.

Newsflash: Obama Stimulus Was A Leftwing Boondoggle Created To Financially Benefit Obama-Connected Liberals

December 17, 2011

Obama keeps talking about the Republican culture of corruption because he’s the most dishonest man who has ever “occupied” the White House and he knows the media is as dishonest as he is.

The Obama stimulus porker – you know, that thing that didn’t create any jobs but cost the American taxpayers not $862 billion but rather $3.27 TRILLION – keeps looking worse and worse as we get the 20/20 vision to examine it.  Even the CBO is now stating for the record that their previous analysis was off, and that this stimulus turd was in fact a turd.

Obama laid a $3.27 TRILLION turd and nobody’s talking about it.

Well, now there’s this:

Outrage! Author of ‘stimulus’ tied to companies funded by bill: Received hundreds of millions in government grants, loans.
Posted on December 14, 2011 at 9:14 PM EST
By Aaron Klein

An advisor to President Obama who played a key role in developing the energy provisions of the so-called stimulus bill has graced the board of several companies that recently received government funds, including hundreds of million in “stimulus” money.

TJ Glauthier served on Obama’s 2008 White House Transition Team. He is widely credited with helping to craft the energy provisions of the American Recovery and Reinvestment Act of 2009, also known as the “stimulus.”

In addition to serving on the boards of multiple major energy companies, Glauthier previously held two Presidential appointments during the Clinton Administration.

He was the Energy Department’s Deputy Secretary and Chief Operating Officer, the second-highest ranking official.

Earlier, he served in the White House for five years as the Associate Director for Natural Resources, Energy and Science in the Office of Management and Budget.

Glauthier is tied to several energy companies that benefited from the “stimulus” bill he helped to craft.

One such company investigated by KleinOnline is GridPoint Inc, where he was appointed to the board in March 2008. GridPoint provides utilities software solutions for electrical grid management and electric power demand and supply balancing.

The “stimulus” provides for $4.5 billion for so-called smart grid projects. GridPoint has benefited from scores of smart grid deals funded by the “stimulus” bill.

The company partnered with the Electric Transportation Engineering Corporation (eTec), Nissan, the Idaho National Laboratory and others in a project to deploy electric vehicles (EVs) and their charging infrastructure in five states. The Energy Department had awarded eTec almost $100 million in “stimulus” funds to support the project.

GridPoint’s role in the eTec project was to supply smart charging and data logging capability to utilities located in strategic markets of eTec’s program in Arizona, California, Oregon, Tennessee and Washington.

GridPoint also benefited from “stimulus” funds when it recently provided home energy management, load management and electric vehicle management software solutions for a KCP&L’s Green Impact Zone SmartGrid Demonstration in Kansas City, Mo. The project was the recipient of stimulus funding.

Additionally, GridPoint helped the Sacramento Municipal Utility District, or SMUD, to manage power from its customers’ rooftop solar panels.

The Arlington, Va.-based company had landed a contract to help the Sacramento, Calif.-based municipal utility manage renewable power integration, energy storage and home energy management systems. SMUD had won $127.5 million in stimulus funds from the Department of Energy to carry out the project, which also includes deploying 600,000 smart meters in its service territory.

Also, in early 2009, the Energy Department awarded Argonne National Laboratory nearly $2.7 million in stimulus funding for three solar-energy related research projects. In addition, Argonne reportedly shared another $5 million in stimulus funding for projects with GridPoint and other companies and the University of Illinois Sustainable Technology Center.

Besides benefiting from stimulus grants, GridPoint last year won a $28 million contract with the United States Postal Service to install energy management systems in selected post office locations across the U.S.

Glauthier, meanwhile, had come under fire in the conservative blogosphere after Fox News reported the U.S. Navy has purchased 450,000 gallons of biofuel for about $16 a gallon, or about 4 times the price of its standard marine fuel, JP-5, which has been going for under $4 a gallon.

HotAir reported last week that Glauthier is a “strategic advisor” to Solazyme, the California company that is selling a portion of the biofuel to the Navy.

HotAir noted Solazyme received a $21.8 million grant from the 2009 stimulus package.

Also, writing at BigGovernment two weeks ago, Whitney Pitcher found that prior to serving as advisor to Solazyme and after his time as part of Obama’s transition team, Glauthier served of the advisory board of SunRun, a solar financing company.

In October of 2010, just a few short months after Glauthier joined SunRun’s advisory board, SunRun secured a $6.73 million grant from this Treasury Department stimulus program. The company was the ninth largest recipient of such programs through the December, 2010.

With research by Brenda J. Elliott

Boy, is it ever a small world where Obama’s crony capitalist fascist government-dictated corruption is involved.

We also learn that a big Obama donor had his hand in the same pot: he was the founder of Gridpoint, after all:

The founder of an energy company that benefited from deals involving hundreds of millions in “stimulus” money made the maximum donation allowable to President Obama’s inauguration, WND has learned.

Peter L. Corsell, founder of GridPoint Inc., contributed $50,000 to the inauguration.

I wrote about that Solazyme biofuel boondoggle too. It’s beyond outrageous what Obama and his thieving friends are getting away with.

I say it and keep saying it: this is God damn America, and it will continue to be God damn America until we rid ourselves of this evil despot.

Blacks, Hispanics, women and young people – all the groups most responsible for bringing Obama to power – are the most cursed under this administration (you know, even as all of Obama’s fascist crony capitalist friends PROSPER):

After decades of hard-fought progress, black economic gains were reversed in Great Recession (updated: that link was deleted by WaPo, which is a very common tactic of the revisionist liberal media.  Here is a still-current link to this story)

Hispanics’ Unemployment Rate Soars

Women Losing Ground as Jobs Crisis Rages

U.S. Youth Unemployment At Arab Spring Levels

 With all due respect, it is nothing short of poetic justice.  You voted for an incredibly evil man and one day you will burn in hell for it.  But get you should all get your foretaste of that hell early, SHOULDN’T YOU?

Stimulus An Even Bigger Treasonous Failure Than Americans Thought It Was, Says CBO

December 14, 2011

Obama spent $862 billion dollars of our money and our children’s money and their children’s children’s children’s money. 

A more precise estimate of what Obama spent is actually $3.27 TRILLION.  Because a lot of the stimulus required more expenditures down the road.

That bought Obama a lot of political payback as his crony capitalist fascist buddies who benefitted from all of this pork slush gave him over a billion dollars in camaign warchest money.

But did it help the United States?  Did it help the American people?

Stupid question, frankly.  It was never really intended to help anybody but Obama and his friends.

New CBO Reports Show Stimulus Even Less Effective Than Previously Believed
Kevin Glass   Managing Editor, Townhall.com
Dec 14, 2011

Buried within the Congressional Budget Office’s most recent report on the progress of President Obama’s American Recovery and Reinvestment Act was a surprising admission: the CBO now estimates the stimulus might have been only half as effective as previously thought.

You wouldn’t know it from the headlines. “Stimulus added up to 3.3M jobs,” reads a representative piece from Politico reporting on the November CBO report. This headline is accurate for the high-end estimate. That estimate, however, is essentially unchanged from previous reports. In the past, the CBO’s low estimate for jobs “created or saved” was 1.2 million which, in this report, has dropped to only 600,000.

A particularly unusual requirement in the stimulus was that the CBO issue regular reports on its estimates of the legislation’s economic effectiveness. Standard neo-Keynesian macroeconomics, to which the CBO has long seemed to subscribe in its economic modeling, posits that government spending creates a “multiplier effect” that ripples throughout the economy and creates more growth than it would normally appear to. The CBO’s newest report cuts one of their estimates in half, validating conservative criticism that they’ve been overestimating the effect of the stimulus.

If the debate about the law was shaped by the possibility that a $825 billion spending law would yield only six hundred thousand jobs, the debate may have been a lot different. Over $1.3 million dollars per job “created or saved?” That’s not a number that Democrats are eager to be touting on Capitol Hill.

The Center on Budget and Policy Priorities put together a chart representing the CBO’s revised estimates:

It might be difficult to find those who would argue that the stimulus was worth it if the CBO’s new low-end estimate of jobs “created or saved” is accurate. The left will always have Paul Krugman and similar ideologically-aligned colleagues arguing that the CBO is wrong, that the economic multipliers are higher, and that the CBO is actually underestimating the growth that comes from a massive injection of government money into the economy. The problem for Krugman et. al is that the economics on such undertakings are far from settled.

Studies attempting to estimate the effects of countercyclical fiscal policy have found an incredibly wide range of possibilities. While the CBO estimates a multiplier effect between 0.5 and 2.5, academic literature is even further apart. IMF economists writing about recent studies found estimates that government spending could be either significantly harmful or even more effective than the most optimistic CBO scenario. In summing up the state of macroeconomics, they found this to be an “embarrassingly wide range of estimated multipliers.”

“Usually, the CBO is very careful when they apply the range of jobs created because they don’t really know for sure,” said Douglas Holtz-Eakin, former CBO director and president of the American Action Forum. “I think it says a lot about the confidence of the profession in their ability to provide these estimates. There’s simply no consensus about the size of multiplier effects in the best of circumstances, and for those that were introduced in the midst of a large financial crisis-induced recession, it’s even more uncertain.”

The CBO’s modeling represents the wide range and uncertainty surrounding the economic community. It’s also not simply a matter of splitting the difference between the best-case and worst-case scenario being represented. The range presented is so wide precisely because economists are genuinely unsure of their methods and projections. New York Times economics reporter Ed Glaeser discussed this in writing,

The fundamental problem with acquiring certainty about Keynesian intervention is that anti-recessionary spending is just not very amenable to clean, compelling empirical evaluation… And so we are left wading in ignorance. It is a great tragedy that the most important area of economic decision-making is also the area where we will always know the least.

Economics was famously coined as “the dismal science” – and while the CBO is a nonpartisan, trustworthy institution, its estimates nonetheless represent value judgments and certain assumptions. Their willingness to revisit those assumptions in the wake of a stimulus that has not followed the models for what was promised by the Obama Administration is admirable. “They should be applauded for going back and reviewing on the basis of new research and new evidence,” Holtz-Eakin said.

Neither party has a monopoly on economics, despite what Obama’s economists may have claimed during the stimulus debate, and what the president himself regularly implies. Republicans who argue that the stimulus had no effect at all on employment are likely just as wrong as the news media that takes the CBO’s high-end estimates as fact. It’s difficult to spend that much money and have absolutely no effect on employment, no matter how strong a crowd-out effect might occur. The important thing is that the CBO effectively admitted their critics were correct that they have been overly optimistic in their economic estimates of the stimulus. Conservatives should applaud.

“Half as effective as previously thought”???  And this new analysis comes what, only what, three years after it passed?

In anothe couple of years, it’s going to be regarded as only half as effective as it was before they realized that it was only half as effective as they’d thought.

It’s an unmitigated disaster.

Obama foolishly and wickedly gambled away everything this country had – and like his good pal and trusted advisor Jon Corzine did HE LOST OUR MONEY.

Barack Obama is the worst national disaster in American history.  He is the Antichrist’s useful idiot.  He may have already so crippled America that it will never be able to recover, and one more Obama term would certainly leave us guaranteed to collapse in the next ten years.

Debt To Shoot Over $15 TRILLION Today Under Obama (Thanks For Bankrupting Us, Barry Hussein!)

November 16, 2011

Obama promised he would cut spending.  Obama promised he would “cut our deficit in half by the end of my first term.”

Here’s the thing.  Obama not only lies; he lies knowing full damn well he’s lying.  He promises to cut spending when at the very same time he keeps calling for more and more spending than not only this nation but THE ENTIRE PLANET AND HUMAN RACE have ever seen.  Obama rammed through an $862 billion stimulus that the CBO said would actually cost the American people $3.27 TRILLION.  And then if that wasn’t enough he recently set out to demonize Republicans for not doing the same insane thing AGAIN with his jobs bill that not even DEMOCRATS will pass (and see here).

And under Obama, the projected future deficits easily top a trillion a year for as far into the future as the eye can see.  Not that America will make it that long before it implodes.

This guy is genuinely evil.  He is a liar without shame.  And he is leading us to complete economic collapse.

US Debt Hits 15 Trillion Today – First Time In History

On November 16th the U.S. National Debt is set to soared above the $15 trillion mark for the first time in history. As this staggering figure is digested by the nation; politicians seem to be oblivious to the ramifications of their uncontrolled spending and resulting debt burden as it continues to climb with no end in sight.

While the global financial system remains transfixed by the problems of Greece and several other European countries risking default over their massive debts, the real threat is whether the credit standing and currency stability of the world’s biggest borrower, the United States, will be jeopardized by its disastrous outlook on deficits and debt.

That’s the fear raised in a penetrating Op-Ed found on the Financial Times website written by Roger Altman, a former deputy U.S. Treasury secretary under President Clinton who is now chairman of Evercore Partner, a leading global advisory and investment firm.

“America’s fiscal picture is even worse than it looks,” Altman writes. “The non-partisan Congressional Budget Office just projected that over 10 years, cumulative deficits will reach $9.7 trillion and federal debt 90 percent of gross domestic product – nearly equal to Italy’s.

While President Obama is preparing for a difficult re-election fight next year; Republican candidates from Mitt Romney to Herman Cain have pounced on the country’s economic woes in their bids to win the GOP nomination and the chance to oppose Obama.

Neither party seems open to fully embracing the Simpson and Bowles Committee recommendations that many citizens would agree are the most common-sense and comprehensive solutions to the nation’s revenue and debt problems.

The Occupy Wall Street protests directed at the nation’s financial inequalities continue to rage across the country; but one has to question if these protest wouldn’t be more accurate if consolidated in Washington D.C. where each citizen is being punished for the unconscionable purchase of votes by entitlement politicians.

It took nearly 200 years for the United States to rack up $1 trillion, but the federal government has certainly made up for lost time by increasing the debt by another $14 trillion in just the past 40 years.

Passing this significant milestone may mean that President Barack Obama will have to request another debt ceiling increase before next years election.

And while neither party seems committed to cutting the national debt, Republicans in Congress have showed some backbone in opposing further borrowing by the government. And some may argue that the acrimonious debate on Capitol Hill a few months ago about raising the national debt ceiling illustrates that politicians are finally hearing outrage from the citizenry.

The “Super Committee” is having trouble coming up with a mere 1.2 trillion in cuts for the next 10 years (a pittance of the amount needed to reduce the debt) and no better luck than Congress did as a whole in tackling the overall problem of spending.

No one can argue that President George W. Bush bears a great deal of responsibility for this mess and it was evident that the growing debt and lack of conservative fiscal policies cost the Republicans in the 2008 elections.

What is unclear is whether Obama’s big-government liberal tendencies that have increased spending by more than $4 trillion in just three years will cause his defeat in 2012 and the reversal of the growing debt trend by installing a new administration with debt reducing policies.

View: US Debt Clock

Under Obama’s “leadership,” the United States will pay nearly $700 billion in interest alone each year to service our debt.

This nation is almost certainly doomed because the American people were foolish enough at a critical point in our history to elect a fool to lead them.

God damn America is about to come crashing down.

Obama: ‘This election won’t be as sexy as the first one [when I could demonize the incumbant and make a bunch of empty promises]’

October 25, 2011

Get out your barf bags.  Because Obama is coming to your town in his Canadian-built bus (as he sends half a billion dollars to Finland to create jobs in Europe) to talk about “jobs.”  And why three years into his presidency he somehow bears no responsibility for the fact that everything he promised has been nothing but a big fat giant lie from hell.

Obama: Country facing economic, political crisis
By JIM KUHNHENN, Associated Press – 10/24/2011
 
LOS ANGELES (AP) — Testing a re-election theme, President Barack Obama is telling donors during a fundraising rich tour of three western states that the country is suffering from an economic crisis and from a political crisis. “People are crying out for action,” he says.

Pointing to elements of his $447 billion jobs plan rejected by Republican lawmakers, Obama said they would likely linger as campaign issues in 2012.

“This is the fight that we’re going to have right now, and I suspect this is the fight that we’re going to have to have over the next year,” Obama told about 240 donors at a fundraising event Monday at the Bellagio hotel and casino in Las Vegas. “The Republicans in Congress and the Republican candidates for president have made their agenda very clear.”

In Los Angeles on Monday evening, Obama mingled with Hollywood’s royalty. At an intimate dinner with top donors in the Hancock Park home of producer James Lassiter, Obama chatted with movie star Will Smith and former Los Angeles Lakers standout Earvin “Magic” Johnson.

“Sometimes I think people forget how much has gotten done,” Obama said, and he urged his supporters to rally once again, at the same time joking, as he often does, that he is older and grayer now. “This election won’t be as sexy as the first one.”

The Las Vegas fundraiser attracted about 240 people who paid from $1,000 to $35,800 toward Obama’s re-election campaign and to the Democratic National Committee. The bigger donors met the president personally.

The dinner at the Lassiter home was cozier, with fewer than 40 donors who paid $35,800 each. Among the sponsors were Troy Carter, the manager of Grammy award winner Lady Gaga. The singer herself was a guest at a fundraiser last month at the Atherton, Calif., home of Facebook chief operating officer Sheryl Sandberg.

Obama was to raise money at the home of movie stars Melanie Griffith and Antonio Banderas, an event aimed at Latino donors that was also expected to feature actress Eva Longoria and mayors Antonio Villaraigosa of Los Angeles and Julian Castro of San Antonio.

While in Las Vegas, Obama spelled out a plan to help homeowners refinance their homes even if their home values had dropped dramatically below what they owed on their mortgages. Obama ventured into a working class development in the Las Vegas suburbs that benefitted from a community revitalization program like one he is pushing Congress to approve now.

But the president displayed campaign-style vigor, wading into the neighborhood crowd to shake hands and even lift a baby. His handlers reminded him it was time to leave, but Obama strode to yet another group of residents for one last hand shake, autograph and photograph.

Upon arriving in Los Angeles, Obama headed to a diverse neighborhood near Lassiter’s home south of Hollywood and stopped at Roscoe’s, a chicken restaurant, where he greeted customers and ordered chicken wings for his staff.

Most of his remaining time during this three-day swing through Nevada, California and Colorado is being spent raising money. On Tuesday he will tape an appearance on “The Tonight show with Jay Leno,” his second as president and fourth appearance overall. He will also attend fundraisers in San Francisco and Denver.

Why is the country suffering from a political crisis and an economic crisis three years into the Obama presidency?  Why is it that three years into the Obama’s regime the people are crying out for action?

Obama began running for re-election earlier than anyone before him:

“Yesterday, President Barack Obama announced his plans to run for reelection in 2012, 582 days before Election Day and before most major Republican opponents officially announced that they’d be entering the race. This is the earliest any incumbent president has officially signed up to run again.”

The day that he announced, he himself ended his ability to move things legislatively.  He went into full-time candidate mode and every single thing he is doing is merely another campaign tactic.

To add to that, Obama has done fundraisers and average of once every three days since he announced his re-election bid in early April.  As of October 13, Obama had held 55 fundraisers since April 4.

You add up all his golf, and he isn’t doing much else BUT campaign.  Particularly given the fact that most of the crap the man is doing is nothing but incredibly poorly disguised campaigning (which he’s cynically making taxpayers pay for).  From CNN:

But at times, the event also took on a touch of the political rally Obama’s political opponents said it was.

“I’m not just here to enjoy the nice weather, I’m here to enlist you in a fight,” he said to the cheering Cannon Falls crowd.

Republican National Committee Chairman Reince Preibus derided the event — the first stop on Obama’s three-state trip — as nothing more than a campaign event disguised as a public one.

“He’s spending taxpayers’ dollars on a bus tour disguised as some kind of economic event for the country when we all know that it’s a campaign event paid for by the taxpayers,” he said.

Earlier, the Republican National Committee issued a “briefing book” on the trip made to resemble one produced by the administration in which it mockingly described the trip as “a totally non-political taxpayer-funded administration event that just happens to criss-cross several battleground states critical to the president’s reelection.”

Obama continues to demonize Republicans for obstructing his idiotic jobs bill – which is EXACTLY LIKE HIS COMPLETELY FAILED STIMULUS IN EVERYTHING BUT HIS DISINGENUOUS NAME FOR IT – even though IT WAS DEMOCRATS IN CONTROL OF THE SENATE who obstructed Obama’s jobs bill and wouldn’t let it come up for a vote.  Because truth hurts Obama; he has to live in a world of lies and lying demagoguery and sell that world of lies.

Add to that the fact that this Marxist-in-Chief has been out hypocritically playing communist class warfare in public even as he has been sucking up to the filthy rich – oh, about every three days or so – in private.

Let’s just call Obama what he is: totally dishonest (or read what Steve Wynn had to say here).

Housing Under Obama Worst Since Great Depression – With Poor And Minorities Most Screwed By ‘Hope And Change’

October 7, 2011

Obama rammed his “stimulus” through Congress on lies and false promises.

Obama said that virtually all economists were on his side.  That was a flat-out lie.  Obama made promises based on his lies that are now documented to have been completely false.

And this truly evil man who represents God damn America is trying to do the same thing all over again.  He’s singing the same tune and making the same lying promises all over again.

The saddest thing about Obama’s “fundamental transformation” of the American economy and way of life is that the people Obama cynically and deceitfully claimed he was defending are in fact the ones who are being the most truly screwed by Obama’s policies.

And it just never ends: Obama crushes and oppresses the poor and the helpless – blames the Republicans for the failures that are completely his fault and which were taking place well before Republicans had any power to fight Obama’s demonic policies at all – and then deceitfully runs against Republicans on a campaign that is pure demagoguery.  As just one example, Obama is out blaming Republicans for stopping his jobs bill – which is just the same damn failed stimulus by a different name But it is DEMOCRATS who are blocking Obama’s jobs bill and Republicans who want it to come up for a vote.  And Obama is the worst kind of liar for falsely claiming otherwise.

And here we go again.  THE most evil president in American history is destroying America.  And it’s hard to imagine how Obama is going to blame his double-dip recession (DEPRESSION) that entirely happened on HIS WATCH on somebody else.  God damn America is going to go down hard until we rid ourselves of this wicked man.

By the way: This article was written by a fool, for what it’s worth. The third paragraph in the article claims the reason for this terrible state of affairs is “reduced government involvement.” But consider the final sentence in this New York Times article:

“Fannie, Freddie and F.H.A. buy or insure about 97 percent of residential mortgages.”

Can you understand how truly full of stupid it is to argue that the government hasn’t been “involved enough” with this wretched fiasco when in fact they control 97 percent of the hell they inflicted on us with their hellish policies?!?!?  Ninety-seven percent wasn’t enough government control, you jackass?!?!?  What, ninety-nine percent would have been even better?  One hundred percent government takeover would have fixed our inadequately socialized system for sure?!?!?

Oct 6, 6:07 PM EDT
Census: Housing bust worst since Great Depression
By HOPE YEN
Associated Press

WASHINGTON (AP) — The American dream of homeownership has felt its biggest drop since the Great Depression, according to new 2010 census figures released Thursday.

The analysis by the Census Bureau found the homeownership rate fell to 65.1 percent last year. While that level remains the second highest decennial rate, analysts say the U.S. may never return to its mid-decade housing boom peak in which nearly 70 percent of occupied households were owned by their residents.

The reason: a longer-term economic reality of tighter credit, prolonged job losses and reduced government involvement.

Unemployed young adults are least likely to own, delaying first-time home purchases to live with Mom and Dad. Middle-aged adults 35-64, mostly homeowners who were hit with mortgage foreclosures or bankruptcy after the housing bust in 2006, are at their lowest levels of ownership in decades.

Measured by race, the homeownership gap between whites and blacks is now at its widest since 1960, wiping out more than 40 years of gains.

“The changes now taking place are mind-boggling: the housing market has completely crashed and attitudes toward housing are shifting from owning to renting,” said Patrick Newport, economist with IHS Global Insight. “While 10 years ago owning a home was the American Dream, I’m not sure a lot of people still think that way.”

He noted the now-diminished roles of mortgage buyers Fannie Mae and Freddie Mac, which for decades at the urging of government helped enable loans to borrowers with poor credit, many of them minorities. In a shift, the Obama administration earlier this year said it would move from a longtime government focus on promoting homeownership for all and instead steer people with low incomes toward renting where appropriate.

Congress has been considering whether to eliminate the federal tax deduction for home-mortgage interest, a popular incentive to home-buying that’s been in place since the early 20th century.

Given depressed housing values that could continue for at least another four to five years, it now makes more sense in most cases to rent than own, Newport said.

Nationwide, the homeownership rate fell to 65.1 percent – or 76 million occupied housing units that were owned by their residents – from 66.2 percent in 2000. That drop-off of 1.1 percentage points is the largest since 1940, when homeownership plummeted 4.2 percentage points during the Great Depression to a low of 43.6 percent.

Since 1940, the number of Americans owning homes had steadily increased in each decennial census due to a mostly booming economy, favorable tax laws and easier financing. The one exception had been 1980-1990, when ownership remained unchanged at 64.2 percent.

Broken down by state, 41 states saw declines in home ownership since 2000, many of them in the South and West where foreclosures were more common. They were led by South Carolina, Alabama, Florida, Mississippi and North Carolina. On the other end of the scale, states with higher shares of vacation homes owned by affluent baby boomers saw small increases in ownership, including New Hampshire, Hawaii, Alaska and Vermont.

The U.S. housing crisis is far worse than the experience in most Western industrialized nations, which, unlike the U.S., did not foster markets of subprime lending to promote homeownership. The U.S. continues to maintain a relatively high rate of homeownership, surpassed only by countries such as Spain, Ireland, Australia and England.

“In the U.S., there’s still a strong cultural pull toward homeownership, because in normal times it’s always been seen as a way to build net worth and equity,” said Dan McCue, research manager at Harvard’s Joint Center for Housing Studies. But with many former homeowners now renting, he said, clearly that dynamic has changed: “It puts a renewed focus on rentals, and on ways to create new opportunities for low-income households to build their wealth.”

Blacks, who as a whole have lower income and higher unemployment than other groups, were particularly set back by the housing bust. Their homeownership rate fell from 46.3 percent in 2000 to 44.3 percent; among whites, the rate dipped slightly from 72.4 percent to 72.2 percent. Whites are now on average 1.63 times more likely than blacks to own a home, the widest gap since 1960.

Among all minorities, homeownership in the U.S. rose slightly over the past decade to 48 percent from 47.4 percent, boosted by more home buying among the younger and larger Hispanic population. Hispanic homeownership increased from 45.7 percent to 47.3 percent.

In all, nearly 44 percent of all renters in the U.S. are minorities, compared with only 22 percent of homeowners. Broken down by state, minorities make up more than half of all renters in 10 states and the District of Columbia, up from 6 in 2000 – with the new states being New York, New Jersey, Mississippi, Louisiana and New Mexico.

“There is no doubt that a large part of the white-minority economic divide is reflected in the disproportionate minority representation among the nation’s renters,” said William H. Frey, a demographer at Brookings Institution, who analyzed the race data. “The recent financial crises, including large numbers of subprime loans to African Americans, has dramatically widened the white-black homeownership disparity.”

Other census findings:

-Homeownership rates decreased in each region of the country over the last decade. Midwesterners were most likely to own a house, at 69.2 percent, followed by Southerners at 66.7 percent, Northeasterners at 62.2 percent and Westerners at 60.5 percent.

-For the fourth census in a row, West Virginia had the highest homeownership rate, at 73.4 percent. The District of Columbia, with its high share of single twenty- and thirty-somethings who rent, had the lowest at 42 percent.

-While homeowners were the majority in most of the nation’s metropolitan areas, they were outnumbered by renters in many of the nation’s largest cities. They included New York City, where renters made up 69 percent of households, Los Angeles at 61.8 percent, Chicago at 55.1 percent and Houston at 54.6 percent.

By age, the highest ownership rate nationwide is for those 65 and older, about 77.5 percent. Older Americans are more likely to own their homes debt-free and thus be less exposed to the foreclosure crisis. Still, their homeownership rate is down slightly from a 2000 peak of 78.1 percent.

Among adults 34 and younger, homeownership was nearly 40 percent, the highest since the mid-1990s. For adults in the 35-44, 45-54 and 55-64 age groups, homeownership rates fell to their lowest since at least 1980.

Peter Francese, founder of American Demographics magazine who is now analyst for the MetLife Mature Market Institute, believes Americans aren’t completely giving up on homeownership. He noted millions of young adults are delaying home-buying while they temporarily double-up with their parents, representing pent-up demand for houses that will surface once the job market begins to recover.

Online:

http://www.census.gov

If Democrats actually give one flying damn about the poor or about minorities, it is long past time that they threw this failure out on his dumbo ears.

I call them “DemonCrats,” for “Demonic Bureaucrats.”  These people impose their Marxist-fascist government planned economy, and then they simply cannot understand why it keeps failing over and over and over again.

What happens again and again?  The Demonic Bureaucrats impose stupid and immoral policies on the private sector to force them to do incredibly harmful and counterproductive things such as make home loans to people who cannot possibly afford them.  And then when the private sector figures out a way to somehow make money on the latest failed government takeover, the DemonCrats blame the private sector.  Thus Democrats force the banks to make stupid loans to people who could not pay those loans back, forcing the banks to pursue dangerous policies in pursuit of the profits they exist to pursue.  And then when everything goes to hell, the same Democrats who set up the entire disaster and caused the whole mess invariably point their fingers at the people they forced into an impossible situation to begin with.

And Democrats will continue to do this until the American people either wise up and drive them out of power, or until America collapses.  Whichever comes first.

Obama Can’t Blame Bush Any More, But That’s Okay: It’s ‘Soft’ AMERICAN PEOPLE’S Fault Now

September 30, 2011

Who’s to blame for our economy?  Why don’t we ask the Demagogue-in-Chief?

Still making excuses: Obama blames economic misery on Americans getting ‘a little soft
‘President claims U.S. had lost its ‘competitive edge’
By Daniel Miller
Last updated at 3:22 PM on 30th September 2011

Barrack Obama claims the U.S. had ‘gotten a little soft’ in the last couple decades and needs to ‘get back on track’.

The president was talking about the state of the economy during an interview with a local TV station from Orlando, Florida, when he made the comments.

He told WESH-TV’s Jim Payne: ‘The way I think about it is, this is a great, great country that had gotten a little soft and we didn’t have that same competitive edge that we needed over the last couple of decades.

‘We need to get back on track.’

Mr. Obama has faced heavy criticism for his handling of the economy, and the current unemployment rate  of 9.1 per cent is threatening his re-election bid.

He acknowledged that with the current economic climate it is a particularly ‘challenging’ time for young people.

He said: ‘Even before the financial crisis hit, one of the reasons that I ran for president was that wages – incomes had flat-lined at the same time that costs were going up.

‘I think people felt that opportunities were becoming more constricted for the next generation.’

‘And that’s why making sure that we’re revamping our education system, making sure we’ve got world class infrastructure, investing in basic science, research and technology, making sure that we are moving manufacturing to the US, and that we are being tough with our trading partners, making sure that they’re not taking advantage of us.

Americans are too soft.

I kind of view that in terms of a parent who says his kid is fat, and we’re supposed to forget the fact that it was that damned parent who kept stuffing the kid’s face with high-calorie foods.

Let’s see.  I don’t need to get a job; I can stay on unemployment for a hundred weeks, two hundred weeks, hell, for life.  I don’t have to worry one iota, because Obama is going to attack “the rich” and spread their wealth around (“From each according to his ability, to each according to his need“) so I can sit on my fat, lazy ass as long as I keep voting for Democrats. 

But it’s my fault I’m soft?  Why isn’t my “daddy” to blame who shoved all this fat PORK down my throat?

Truman had that now famous slogan on his desk: “The buck stops here.”  Obama did a little editing on his sign: “The buck stops anywhere but here.”

All I can say is that I don’t particularly need a week, scrawny, dumbo-eared pathetic whiner who frankly isn’t man enough to accept responsibility for anything calling me or my fellow Americans “soft.”

And if I AM soft, then please stop stuffing your fatty, sugary, syrupy STIMULUS boondoggles down my throat, okay?