The table below illustrates the tax increase that will hit individuals and families when their employers yield to the incentives in the Baucus bill to drop health coverage and send employees to the new government exchange to buy insurance. Last week the folks at the Congressional Budget Office (CBO) regaled us with their analysis of […]
In January Obama’s economic team published a report, including the above chart, predicting the number of jobs that would be created “or saved” by the “stimulus” $787 Billion of borrowing and spending. The report authors, through a series of assumptions, estimates, projections, purported to determine the total at 3,675,000 jobs. They even included figures by […]
Recently, President Obama, his various spokesmen and his media supporters donned their Econ professor hats to tutor us from history that re-employment has always been a “lagging indicator” as recessions end and recoveries begin. True enough. But that’s not what they said in January and February. Back then, when they were furiously selling the stimulus, […]
Today, the Administration released it’s Mid Session Budget Review, a 75 page document required by law, to update Congress on recent events that could affect the 2010 budget. On the summary page appears this laughable, yet tragically out of touch fantasy: Despite the demands put on the treasury to respond aggressively to avoid economic collapse, […]
The last economic downturn began in late 2000, with job losses starting in February, 2001 and accelerating after the terrorist attacks of 9-11-01. The only “stimulus” was sweeping tax rate reductions, a strategy that had proved successful when implemented by Presidents Kennedy and Reagan. Fifty two months of continuous Job growth began in September of […]
. For weeks Obama Administration officials have warned that unemployment would rise from present levels. A lot. Yesterday Press Secretary Robert Gibbs looked grim as he told reporters he expected today’s employment report from the Labor Dept. to show “several hundred thousand jobs lost” and a higher unemployment rate for July – higher than June’s […]
The $787 Billion Stimulus was enacted by Congress on February 13, after President Obama, Democrat leaders and most of the media declared that massive new borrowing and spending would immediately halt job losses. Passing the legislation was treated as an emergency. Congressmen and Senators voted without reading the final version, before it was even printed, […]
President Obama’s plan for Wednesday night’s press conference was to urge us to support his urgent, health care legislation, some thousand pages of new regulations and new bureaucracies and new federal power. He wants Congressmen and Senators to treat health care as an emergency, and vote for the legislation immediately, without reading it, or publishing […]
The first Stimulus Hoax article (scroll down or click here) we compared the wild promises President Obama made in January to sell his “stimulus,” with his much more sober and pessimistic comments after almost five months of continuing, catastrophic job losses. We included charts showing rapidly declining employment in the private sector, especially in heavy […]
On Saturday (July 11) President Obama went on defense against criticism of his radical economic agenda, especially the so-called “stimulus” or Recovery Act. By asserting that “this Recovery Act has worked as intended,” he tried to push back the emerging consensus that The People have been conned. The costs of ObamaNomics, unprecedented increases in government […]
