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Posts Tagged ‘Economy’

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)

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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

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

Viral Vid: In front of Obama, Dr. Carson Slams Obamacare, US Debt, Political Correctness…

Posted by FactReal on February 9, 2013

In front of the Obamas, renowned neurosurgeon Dr. Benjamin Carson gave a great speech at Thursday’s Annual National Prayer Breakfast where he railed against Obamacare, political correctness, poor education, death panels, moral decay, taxes, America’s current fiscal policy, etc. Carson offered solutions as well. As alternative to Obamacare, Carson proposed a program where newborn babies are given health savings account.

Dr. Benjamin Carson’s Amazing Speech at the National Prayer Breakfast (2/7/2013)

Other video source: Here, and here.
HIGHLIGHTS FROM DR. CARSON’S SPEECH

Dr. Carson spoke about the U.S. debt:

One of our big problems right now … our deficit is our a big problem … Our national debt, 16 and a half trillion dollars — you think that’s not a lot of money? Count one number per second, … you know how long it would take to count to one trillion — 507,000 years!

Dr. Carson talked about a simpler taxation system:

What we need to do is come up with something that’s simple. And when I pick up my Bible, you know what I see? I see the fairest individual in the universe — God — and he’s given us a system. It’s called a tithe.

We don’t necessarily have to do 10% but it’s the principle. He didn’t say if your crops fail, don’t give me any tithe. He didn’t say if you have a bumper crop, give me triple tithe. So there must be something inherently fair about proportionality. You make $10 billion, you put in a billion. You make $10 you put in one. Of course, you’ve got to get rid of the loopholes. Some people say, ‘Well that’s not fair because it doesn’t hurt the guy who made $10 billion as much as the guy who made 10.’ Where does it say you’ve got to hurt the guy? He just put a billion dollars in the pot. We don’t need to hurt him. It’s that kind of thinking that has resulted in 602 banks in the Cayman Islands. That money needs to be back here building our infrastructure and creating jobs.

Dr. Carson proposed an alternative to ObamaCare:

Here’s my solution: When a person is born, give him a birth certificate, an electronic medical record, and a health savings account to which money can be contributed — pretax — from the time you’re born ’til the time you die. When you die, you can pass it on to your family members, so that when you’re 85 years old and you got six diseases, you’re not trying to spend up everything. You’re happy to pass it on and there’s nobody talking about death panels. Number one.

And also, for the people who were indigent who don’t have any money we can make contributions to their HSA each month because we already have this huge pot of money. Instead of sending it to some bureaucracy, let’s put it in their HSAs. Now they have some control over their own health care.

Dr. Carson Tells Hannity Why He Spoke Out Against Obama’s Policies To Obama’s Face
(2/8/2013)
Other video source: Here.
MORE
7 Fascinating Facts about Dr. Carson
Dr. Ben Carson’s life was dramatized in the 2009 film ‘Gifted Hands’
Dr. Ben Carson on Impact of ObamaCare on Patients (Video) (Nov 15, 2012)
Dr. Ben Carson’s Speech on America’s current social and political landscape (Video) (Feb 24, 2012)
Dr. Ben Carson’s Interview with Robert H. Schuller at Crystal Cathedral Ministries (Video) (2009?)
White House hang up on Dr. Carson because he is an Independent, not a Democrat (Jul 05, 2012)

Posted in Economy/ Finance, Healthcare, History/ Heritage, Obama, Religion, Right | Tagged: , , , , , , , , | Leave a Comment »

ObamaCare/FDA to Supermarkets: Jail Time or Food-Labeling

Posted by FactReal on February 6, 2013

USING OBAMACARE, THE FDA PROPOSES NEW FOOD LABELING RULE
Penalty: Jail time and thousands of dollars worth of fines.
Costs: $1 billion cost per year for grocery stores; higher prices for consumers

But remember it’s all for “your own good”…because “government knows best.”

Shannon Bream reported today:

If the Food and Drug Administration gets its way, your trip to the grocery  store could get a tad pricier.

Supermarket owners argue a pending federal food-labeling rule that stems from  the new health care law would overburden thousands of grocers and convenience  store owners — to the tune of $1 billion in the first year alone. […]

The rule stems from an ObamaCare mandate that restaurants provide nutrition  information on menus. Most in the restaurant industry were supportive of the  idea, but when the FDA decided to extend the provision to also affect thousands  of supermarkets and convenience stores, the backlash was swift.

The proposed regulation would require store owners to label prepared, unpackaged foods found in salad bars and food bars, soups and bakery items. Erik  Lieberman, regulatory counsel at the Food Marketing Institute, said testing  foods for nutritional data will require either expensive software or even more costly off-site laboratory assessments.

Lieberman said failure to get it right comes with stiff penalties: “If  you get it wrong, it’s a federal crime, and you could face jail time and thousands of dollars worth of fines.”

(Click link or image below to watch video)

Video: Regulation in ObamaCare Will Impact Grocery Store Food Items
Via Fox News, January 27, 2013

FDAnewRules4Supermarkets
Highlights from the video:
Erik Lieberman, regulatory counsel at the Food Marketing Institute, and Shannon Bream explain:

“This is a federal regulation — in proposed stage right now — that stems from the health care law [ObamaCare] and basically says that supermarkets are going to have to label all kinds of foods.”

“If you don’t label it, supermarkets face thousands of dollars worth of fines and executives supermarkets could be put in federal jails.”

You can go to jail if you don’t label the foods correctly under this federal regulation.”

“And this is a sweeping regulation that affects thousands of items in the supermarket.”

“Because of this we could see a number of items going away and I can guarantee you that shoppers are going to see higher prices at the register.”

“There’s not a single study out there which shows that labeling reduces obesity rates.”

“We’ve estimated that it would be $1 billion dollars worth of burden in the first year alone.”

“This is a huge burden. Before we sell an item — like this apple pie — we have to send it to a laboratory for analysis, we have to compile eight different records on the item, we have to put that sign up there which says 300 calories.”

“We have to invest a lot of money to do this and this is money that we’re not investing in creating jobs or developing our stores and — savings that we can’t pass on to consumers.”

“If you don’t get it right someone’s going to jail.”

Posted in Government Abuse, Healthcare, Left, Obama | Tagged: , , , , , , , , | Leave a Comment »

Obama’s 160-Page Rule to Ban Soda & Candy in Schools

Posted by FactReal on February 5, 2013

OBAMA ISSUES MORE PROHIBITIONS…FOR YOU
The Obamas don’t want your kids to eat junk food or drink sodas, because they know better than you what’s best for your children.
ObamasSodasJunkFood
The Hill has the story of Obama’s proposed ban on school snacks:

The Obama administration proposed regulations Friday that would prohibit U.S. schools from selling unhealthy snacks.

The 160-page regulation from the Department of Agriculture (USDA) would enact nutrition standards for “competitive” foods not included in the official school meal.

In practice, the proposed rules would replace traditional potato chips with baked versions and candy with granola. Regular soda is out, though high-schoolers may have access to diet versions. […]

The rules are a product of the 2010 Healthy, Hunger-Free Kids Act, which also overhauled the nutritional make-up of regular school meals. They would apply to any school, public or private, that participates in the National School Lunch Program and the School Breakfast Program. […]

All snacks must also meet a range of calorie and nutrition requirements, such as limits on sodium, total sugar and calories from fat, with few exceptions.

The rules states that all schools may sell water, low-fat and fat-free milks and milk alternatives and 100-percent fruit and vegetable juices, with portion sizes varying by student age.

But don’t worry – King Obama will allow you to keep these God-given freedoms:

High schools will also be permitted to sell carbonated beverages, as long as they contain five calories or less per serving.

Officials noted that the proposed rules will not apply to birthday treats, snacks provided during after-school activities, or student-brought foods.

SOURCES
Media Report:

●http://thehill.com/blogs/healthwatch/nutrition/280613-soda-candy-out-under-proposed-school-snack-rules

USDA 160-page regulation: (Issued on February 1, 2013)
●http://www.fns.usda.gov/cga/020113-snacks.pdf

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Illegal Immigration Costs $113 Billion to US; Illegals Pay only $13 Billion in Taxes

Posted by FactReal on February 4, 2013

ILLEGAL IMMIGRATION IS A NET FISCAL BURDEN ON U.S. TAXPAYERS
A 2010 study found that:
1) Illegal aliens get more in government services than they pay in taxes
Illegal aliens impose more than $113 billion per year in costs on the U.S. government at all levels — federal, state, and local — and pay only $13.4 billion in taxes, creating an annual net fiscal deficit of almost $100 billion, which have to be paid by the U.S. taxpayers. (Scroll down for table.)

2) Illegal aliens file tax returns to get free money from the IRS
As we previously reported, illegal aliens file income tax returns to get “refunds” from the IRS thanks to tax credits like the Additional Child Tax Credit (ACTC). At the federal level, their tax credits exceed what little income taxes they owe. E.g., illegal aliens owe $1.6 billion in taxes, but are able to deduct $3.9 billion as tax credits, resulting in a net refund of $2.3 billion from the IRS to the illegal aliens. (Scroll down for table.)

These tax benefits are the main reason why some illegal aliens file tax returns — not because they suddenly care about the U.S. laws … laws they broke when they entered this country illegally, when they decided to work without authorization and use fake or stolen identities.

TOTAL COST OF ILLEGAL IMMIGRATION (In Million US dollars)
EXPENDITURES
on Illegal Aliens
TAXES
COLLECTED
from Illegal Alliens
NET FISCAL
BURDEN
on U.S. Taxpayers
FEDERAL $28,795 $9,457 $19,339
STATE/LOCAL $84,211 $3,955 $80,255
TOTAL $113,006 $13,412 $99,594
See Table 19 (Page 79)
Federal Expenditures on Illegal Aliens
EDUCATION
Supplemental for poor children of illegal aliens (Title I) $1,332,900,000
Education programs for migrant students (Title I, Part C) $236,900,000
Supplemental for Limited English Proficient (LEP) students (Title III Program) $538,000,000
Post-Secondary Education
(In 2009, children born to illegal aliens received $19.4 billion in Pell Grants.)
N/A
Education Subtotal $2,107,800,000
MEDICAL
Emergency Medical Care $250,000,000
Fraudulent Use of Medicaid $1,235,000,000
Medicaid Cost of Childbirth $1,238,100,000
Medicaid for Children $1,626,800,000
Other Medical Outlays $1,600,000,000
Medical Subtotal $5,949,900,000
LAW ENFORCEMENT
State Criminal Alien Assistance (SCAAP) $330,000,000
Criminal Aliens in Federal Prisons $678,400,000
Byrne Grants $24,300,000
Detention and Removal $2,545,000,000
Project Safe Neighborhoods $39,500,000
Residual ICE Functions $2,824,000,000
Exec. Office of Immigration Review $222,500,000
Southwest Border Prosecution $33,000,000
National Guard $642,000,000
Coast Guard $500,000,000
Law Enforcement Subtotal $7,838,700,000
PUBLIC ASSISTANCE (WELFARE)
Free and Reduced Meal Program $2,264,600,000
Cash Assistance of Needy Families $1,030,000,000
Housing Assistance Programs $787,000,000
Child Care & Development Fund $633,000,000
Public Assistance Subtotal $4,714,600,000
GENERAL EXPENDITURES
General Expenditures Subtotal $8,184,400,000
TOTAL $28,795,400,000
See Tables 1-5 (Pages 12-31)
State and Local Government Outlays on Illegal Aliens ($M)
Education for the children of illegal aliens constitutes the single largest cost to taxpayers, at
an annual price tag of nearly $50 billion.
K-12 LEP** UNIV. MEDICAID SCHIP+ JUSTICE WELFARE+ GENERAL* TOTAL($M)
Alabama $159.2 $27.7 $26.3 $6.1 $18.7 $21.4 $38.3 $298
Alaska $62.4 $12.6 $7.8 $2.4 $6.8 $16.7 $29.9 $139
Arizona $1,390.5 $279.6 $259.8 $60.5 $339.7 $85.5 $153.0 $2,569
Arkansas $129.9 $26.1 $19.4 $4.2 $17.9 $16.7 $29.9 $244
California $9,226.9 $1,855.5 $87.9 $2,486.8 $434.4 $3,169.8 $1,611.0 $2,883.7 $21,756
Colorado $805.3 $161.9 $198.6 $53.0 $146.9 $30.4 $54.4 $1,451
Connecticut $456.1 $91.7 $72.8 $30.8 $61.0 $87.6 $156.8 $957
D.C. $153.2 $32.9 $12.6 $6.0 $31.1 $27.3 $48.9 $312
Delaware $140.5 $19.3 $24.1 $6.4 $20.3 $33.9 $60.8 $305
Florida $2,780.1 $559.1 $530.6 $129.2 $578.9 $317.1 $567.6 $5,463
Georgia $1,453.5 $217.8 $265.5 $52.0 $194.6 $77.1 $138.0 $2,399
Hawaii $70.8 $14.2 $13.3 $3.0 $11.1 $15.3 $27.3 $155
Idaho $93.6 $18.8 $18.7 $4.3 $23.1 $10.5 $18.7 $188
Illinois $2,046.7 $430.3 $93.2 $570.8 $154.4 $379.7 $328.7 $588.3 $4,592
Indiana $310.5 $62.4 $56.4 $15.2 $37.6 $45.3 $81.1 $608
Iowa $147.6 $29.7 $28.0 $8.6 $23.3 $40.3 $72.2 $350
Kansas $215.8 $43.4 $1.5 $41.9 $11.6 $31.6 $34.4 $61.6 $442
Kentucky $124.3 $25.0 $18.5 $5.5 $22.1 $46.9 $83.9 $326
Louisiana $109.5 $22.0 $17.5 $4.2 $19.2 $18.4 $32.9 $224
Maine $18.7 $3.8 $2.0 $0.9 $3.5 $13.2 $23.7 $66
Maryland $921.4 $295.7 $174.2 $62.1 $137.7 $47.7 $85.5 $1,724
Massachusetts $839.3 $168.8 $144.0 $71.1 $152.1 $174.5 $312.4 $1,862
Michigan $314.1 $63.2 $62.4 $25.2 $66.0 $142.6 $255.3 $929
Minnesota $305.3 $61.4 $70.7 $28.7 $62.8 $77.2 $138.1 $744
Mississippi $59.9 $10.4 $9.4 $2.1 $7.8 $6.1 $10.8 $106
Missouri $133.6 $26.9 $25.6 $8.3 $21.2 $44.0 $78.8 $338
Montana $16.0 $3.2 $2.0 $0.7 $2.6 $2.6 $4.7 $32
Nebraska $126.0 $25.3 $0.2 $24.8 $7.6 $26.4 $18.4 $33.0 $262
Nevada $691.1 $139.0 $149.7 $32.8 $152.0 $9.5 $17.0 $1,191
New Hampshire $54.6 $11.1 $8.8 $3.9 $7.8 $15.5 $27.7 $129
New Jersey $2,209.8 $228.3 $334.4 $174.9 $335.7 $69.7 $124.8 $3,478
New Mexico $345.1 $69.4 $0.7 $41.7 $22.5 $67.8 $21.8 $39.0 $608
New York $4,879.4 $946.3 $22.2 $675.2 $281.6 $865.3 $648.2 $1,160.3 $9,479
North Carolina $1,032.4 $207.6 $190.5 $59.5 $155.4 $149.7 $267.9 $2,063
North Dakota $15.4 $3.1 $2.5 $0.9 $1.9 $3.3 $6.0 $33
Ohio $211.4 $42.5 $41.7 $14.6 $51.8 $144.5 $258.7 $765
Oklahoma $204.1 $41.1 $0.6 $43.4 $9.8 $37.2 $46.3 $82.8 $465
Oregon $354.2 $71.2 $60.7 $19.0 $110.8 $31.9 $57.1 $705
Pennsylvania $450.5 $125.4 $78.1 $33.0 $74.3 $221.0 $395.6 $1,378
Rhode Island $158.7 $27.4 $23.8 $14.8 $21.9 $11.3 $20.3 $278
South Carolina $221.6 $44.6 $30.2 $7.2 $28.0 $21.2 $37.9 $391
South Dakota $13.5 $2.7 $2.8 $0.7 $3.9 $5.5 $9.8 $39
Tennessee $231.8 $49.8 $53.5 $14.2 $41.4 $55.9 $100.1 $547
Texas $5,089.0 $1,023.4 $25.9 $1,167.5 $250.7 $727.9 $212.9 $381.2 $8,878
Utah $239.2 $48.1 $2.9 $57.7 $9.9 $53.8 $14.8 $26.5 $453
Vermont $18.4 $3.7 $2.2 $0.7 $2.0 $12.9 $23.0 $63
Virginia $882.7 $401.7 $205.0 $60.4 $132.6 $79.8 $142.9 $1,905
Washington $639.3 $128.6 $7.7 $146.2 $46.0 $127.2 $148.9 $266.5 $1,510
West Virginia $14.7 $3.0 $1.6 $0.5 $1.3 $17.9 $32.0 $71
Wisconsin $288.9 $58.1 $1.3 $48.2 $13.5 $68.1 $145.1 $259.7 $883
Wyoming $26.3 $5.3 $3.4 $0.9 $5.5 $6.4 $11.4 $59
TOTAL $40,883.0 $8,269.9 $244.1 $8,553.1 $2,270.4 $8,687.2 $5,484.9 $9,817.9 $84,211
* Free and subsidized school meal costs are included with General outlays.
**LEP = Limited English Proficient
See Table 15 (Pages 70-71)
Federal Taxes Collected from Illegal Aliens
Income Tax $1,635,000,000
Earned Income Tax Credits (EITC) for Illegal Aliens ($1,777,800,000)
Additional Child Tax Credit (ACTC) ($2,160,000,000)
Net Income Taxes Collected ($2,302,800,000)
Net Income Taxes Collected ($2,302,800,000)
Social Security Tax $7,000,000,000
Medicare Tax $1,637,100,000
Excise and Miscellaneous Taxes $2,489,700,000
Employer Taxes (FUTA & Income) $632,600,000
TOTAL $9,456,600,000
See pages 33-41, and Table 6 (Page 41).
State and Local Taxes Collected from Illegal Aliens
Property Tax $1,378,400,000
Sales Tax $2,332,600,000
Income Tax $244,200,000
TOTAL $3,955,200,000
See Table 17 (Page 76) for breakdown by state.
SOURCE
– Martin, Jack and Eric A. Ruark, “Burden of Illegal Immigration on United States Taxpayers,”
Federation for American Immigration Reform, Washington, DC, July 2010. (PDF)

RELATED
Illegal Aliens Got $4.2 Billion in Tax Credits from IRS in Year 2010
IRS incentivising more illegal immigration
MEXICAN IMMIGRATION LAWS ARE TOUGHER THAN U.S. LAWS

Posted in Economy/ Finance, Government Waste, Immigration | Tagged: , , , , , , , , , , , | 1 Comment »