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Trump’s 2018 Budget Blueprint (link)

Posted by FactReal on March 16, 2017

TrumpBudgetBlueprintFor2018
President Trump’s White House released today his budget proposal for 2018.

Scroll down for winners and losers.

The budget is called “America First – A Budget Blueprint to Make America Great Again.”

Here is the link to the budget (PDF): #https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/budget/fy2018/2018_blueprint.pdf
WINNERS
– Defense Department: INCREASE: $52.3 billion, 10%
– Veterans Affairs: INCREASE: $4.4 billion, 5.9%
– Homeland Security: INCREASE: $2.8 billion, 6.8%
LOSERS
– Health and Human Services: DECREASE: $15.1 billion, 17.9%
– State Department: DECREASE: $10.9 billion, 28.7%
– Education: DECREASE: $9.2 billion, 13.5%
– Housing and Urban Development: DECREASE: $6.2 billion, 13.2%
– Agriculture: DECREASE: $4.7 billion, 20.7%
– Environmental Protection Agency: DECREASE: $2.6 billion, 31%
– Labor: DECREASE: $2.5 billion, 20.7%
– Transportation: DECREASE: $2.4 billion, 12.7%
– Energy: DECREASE: $1.7 billion, 5.6%
– Commerce: DECREASE: $1.5 billion, 15.7%
– Interior: DECREASE: $1.5 billion, 11.7%
– Justice: DECREASE: $1.1 billion, 3.8%
– Treasury: DECREASE: $519 million, 4.1%

SOURCE
Winners and losers in Trump’s budget blueprint
#http://www.foxnews.com/politics/interactive/2017/03/16/white-house-budget-blueprint-march-16-2017/

RELATED
-Trump’s Budget Takes a Cleaver to Cronyism and Waste at the Energy
#http://dailysignal.com/2017/03/16/trumps-budget-takes-a-cleaver-to-cronyism-and-waste-at-the-energy-department/

Posted in Economy/ Finance | Tagged: , | Leave a Comment »

Hollywood Welfare Paid by Taxpayers

Posted by FactReal on February 25, 2013

George Clooney’s film, Argo, received $6.21 million in tax credits
ObamaClooneyBFF
Via Forbes:

Even as the Hollywood glitterati ruminate about social responsibility and the need for the wealthy “one percent” to pay their “fair share,” Hollywood millionaires and moguls are bagging an estimated $1.51 billion in tax revenues annually through something called “film tax credits.”

Consider a few of this year’s Oscar nominated films. According to a new report by the Government Accountability Institute, Quentin Tarantino’s controversial spaghetti Western, Django Unchained, featuring Jamie Foxx and Leonardo DiCaprio has applied to receive an estimated $8.4 million in film tax credits from the State of Louisiana. Actor-director Ben Affleck and producer George Clooney’s film, Argo, received $6.21 million in tax credits from the California Film Commission. Steven Spielberg’s Lincoln, featuring Daniel Day-Lewis, Sally Field, and Tommy Lee Jones, hauled in $3.5 million in tax-free film credits. Silver Linings Playbook bagged a cool $5.6 million.

Indeed, 40 states now have some form of subsidy or incentive that allow filmmakers to defray income and/or sales taxes incurred during filming. Thirteen states even offer so-called “transferrable film tax credits” that allow filmmakers to convert unused credits into cash—at taxpayer expense, of course.

[…]

[T]ax and policy analysts who have studied film tax credit programs say industry claims of job creation are vastly overstated. Worse, say critics, they drain vital state resources from things like education and healthcare.

[…]

What’s more, the Tax Foundation says “that states lose money by offering tax credits for film production” and that “movie production incentives are costly and fail to live up to their promises” because “they create mostly temporary positions with limited options for upward mobility.”

RELATED
Hollywood’s Pious Hypocrisy

Posted in Government Waste, Left, Myths Busted | Tagged: , , , , , , | Leave a Comment »

OBAMA 2011: Wanted Sequester Cuts. OBAMA 2013: Against Them (Video)

Posted by FactReal on February 19, 2013

OBA-MANIPULATION
2011 Obama defends automatic spending cuts (Nov. 21, 2011):
“Already some in Congress are trying to undo these automatic spending cuts. My message to them is simple: No.” “I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending.”

2013 Obama predicts Armageddon if sequester cuts go through (Feb. 19, 2013):
“So these cuts are not smart. They are not fair. They will hurt our economy. They will add hundreds of thousands of Americans to the unemployment rolls. This is not an abstraction — people will lose their jobs.”

(H/t: TheRightScoop.com)
RELATED
Mark Levin exposes a WASTELAND of govt overspending while Obama LIES to your face saying we can’t cut spending
Hannity Mocks Obama’s Melodramatic ‘Mayan Sequester Apocalypse’ (Video)

Posted in Economy/ Finance, Left, Obama | Tagged: , , , , , , , , , | Leave a Comment »

Obama’s is the Worst Economic Recovery in History (Graph, GDP Data)

Posted by FactReal on February 16, 2013

“Obama has presided over the worst multi-year recovery in American history since the end of World War II,” CNSNews found using public economic data. During Obama’s so-called economic recovery, the economy grew only 7.5% while other post-recession periods saw double-digit growth from 11.7% to 51.2%.

“From the end of the last recession in June 2009 until the fourth quarter of 2012, the economy grew only 7.5 percent, increasing from $12.7 trillion to $13.6 trillion,” explains CNSNews.

We prepared graphs and tables to illustrate how weak Obama’s economic recovery has been.
(Sources: Gross Domestic Product (GDP) since 1949 and NBER’s List of U.S. Recessions.)

ObamaRecoveryGDP
RECESSION PERIODS
(A recession/contraction is a period between a peak and a trough — see graph below.)

Officially, the last recession lasted from December 2007 to June 2009.

Start
(Peak)
End
(Trough)
Duration
(# months)
1948 Nov 1949 Oct 11
1953 July 1954 May 10
1957 Aug 1958 Apr 8
1960 Apr 1961 Feb 10
1969 Dec 1970 Nov 11
1973 Nov 1975 Mar 16
1981 July 1982 Nov 16
1990 July 1991 Mar 8
2001 Mar 2001 Nov 8
2007 Dec 2009 June 18
RECOVERY/POST-RECESSION PERIODS
(An expansion is a period between a trough and a peak — see graph below.)

Obama’s economic recovery is the worst multi-year recovery when compared with double-digit growth in other post-recession periods.

During Obama’s economic recovery (from the second quarter of 2009 until the fourth quarter of 2012), the economy grew only 7.5 percent, increasing from $12.7 trillion to $13.6 trillion.

Start
(Trough)
GDP
($ Billions)
1949-10-01 $1,838.7
1954-04-01 $2,306.4
1958-04-01 $2,534.5
1961-01-01 $2,816.9
1970-10-01 $4,253.0
1975-01-01 $4,791.2
1982-10-01 $5,866.0
1991-01-01 $7,943.4
2001-10-01 $11,370.0
2009-04-01 $12,701.0
End
(Peak)
GDP
($ Billions)
1953-07-01 $2,351.8
1957-07-01 $2,616.6
1960-04-01 $2,832.0
1969-10-01 $4,259.6
1973-10-01 $4,948.8
1979-10-01 $5,884.5
1990-07-01 $8,052.6
2001-01-01 $11,287.8
2007-10-01 $13,326.0
2012-10-01 $13,647.6
% Economic
Growth
Duration
(# months)
27.9% 45
13.4% 40
11.7% 24
51.2% 106
16.4% 36
22.8% 58
37.3% 92
42.1% 120
17.2% 62
7.5% 42
Business Cycle
NOTE
The early 1980s post-recession period lasted just 12 months (from July 1980 to July 1981.)

SOURCES
Obama’s economic recovery the worst multi-year recovery since WWII

Real Gross Domestic Product (1949 – 2012)

National Bureau of Economic Research
●http://www.nber.org/cycles/cyclesmain.html

Bureau of Economic Analysis
●http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=1&isuri=1

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