President Obama tries to deceive The People with a meaningless comparison to the Eisenhower era. During the press conference he held to defend his 2012 budget President Obama claimed: As a start, [my budget] freezes domestic discretionary spending over the next five years, which would cut the deficit by more than $400 billion over the […]
Among several preposterous assertions made by President Obama in his Tuesday press conference was this: When I took office, I pledged to cut the deficit in half by the end of my first term. Our budget meets that pledge… None of the assembled reporters disputed or asked for clarification. This chart helps tell the […]
On Tuesday President Obama held a news conference. In response to the first question about the 2012 budget he delivered to Congress on Monday the President made an astounding assertion: What my budget does is to put forward some tough choices, some significant spending cuts, so that by the middle of this decade our annual […]
The Treasury Department’s monthly report for January was published Thursday. January was the fourth month of the government’s fiscal year. Thus, one-third of the 2011 fiscal year is already behind us. In the face of the most urgent fiscal and debt crisis in American history the government still managed to spend $53 billion or 5% […]
The Labor Department published its December jobs report Friday. Presidents Reagan and Obama both inherited severe recessions. But they chose opposite strategies in response. The chart compares employment losses and gains during and after those two worst recessions since the Great Depression. Facts from the January jobs report: Employers created 36,000 new jobs in January, […]
Government economists issued their GDP report for the fourth quarter of 2010 on Friday. The report confirmed again that the largest and most aggressive test of Keynesian stimulus theory ever tried has failed. President Obama and his advisers promised that a massive Keynesian “stimulus” in the form of Trillions in deficit spending would result in […]
President Obama is nothing if not an accomplished practitioner of Washington-Speak. As a public service we’ve translated some of the words and phrases from his State of The Union Speech into Main Street, American English. “Invest” – Spend “Investments” – Government programs and alternative energy schemes “Poised for progress” – My bureaucracy is working on […]
This month President Obama celebrates the second anniversary of his Administration. President Obama’s promises included: Put an end to “irresponsible Bush deficits.” Improve economic conditions for the middle class. Make America more prosperous by restricting conventional energy production and subsidizing the development of so-called “green energy.” Obama’s signature economic initiative was the $814 Billion “stimulus” […]
The Labor Department published its December jobs report Friday. The chart compares employment over three years during the two most severe recessions since the Great Depression. Facts from the December jobs report: Overall job growth, including private and public sectors was 103,000, pathetic compared to previous, post-recession recoveries 2010 job growth averaged 94,000 per month. […]
The new Congress just started and already there are renewed demands from the political-media establishment for tax hikes. The message from President Obama, the Democrats and most of the media is that current deficits resulted from decades of tax cuts, and now, jacking up tax rates is the only “responsible” thing to do. Anyone who […]
