The Obama Boom.

[Ninkobei]

Originally Posted by mary

A) The current minimum wage legislation is over three years old.

B) The teen unemployment rate? Really?

finally a reasonable post

[Arne]

Oh, by the way, the Obama propaganda ministry thinks the US is on its way to recovery...

http://www.obama.com

[dude1394]

Bahama keeping his peeps employed. Heaven forbid a guvment worker losing their job. Or worse yet some poor politician have to cut their budget.

President Obama urged reluctant lawmakers Saturday to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid "massive layoffs of teachers, police and firefighters" and to support the still-fragile economic recovery.

[dude1394]

Our inexperienced community organizer strikes again.
http://www.denverpost.com/opinion/ci_15272041

While it would be unfair to blame the Obama administration for BP's string of mistakes that led to the Deepwater Horizon disaster, a second looming catastrophe would be entirely of the president's making and ought to be reconsidered.
One of the unfortunate victims of the massive oil leak in the Gulf of Mexico appears to be the erstwhile pragmatism of Ken Salazar. The Interior secretary is now aiding the president, who, while looking for someone's ass to kick, is trying to penalize the industry in two ways that defy good judgment.
It's natural to want to seek revenge for the massive environmental and economic havoc. But the administration is hurting the entire deepwater drilling industry by declaring a wide-ranging moratorium that experts say is killing more than 26,000 jobs and as much as $330 million a month in direct wages.

[dude1394]

You go Barry...Probably they weren't union jobs.

U.S. agency's action may kill Bucyrus deal, cost 1,000 jobs

Export-Import Bank denies loan guarantees for coal project in India

By Rick Barrett of the Journal Sentinel
Posted: June 26, 2010 |(191) Comments
Wider impact
Bucyrus has 250 suppliers in Wisconsin that employ 15,000 people

Up to 1,000 jobs at Bucyrus International Inc. and its suppliers could be in jeopardy as the result of a decision by the U.S. Export-Import Bank, funded by Congress, to deny several hundred million dollars in loan guarantees to a coal-fired power plant and mine in India.
About 300 of those jobs are at the Bucyrus plant in South Milwaukee, where the company has 1,410 employees and its headquarters. The remaining jobs are spread across 13 states, including Illinois, Minnesota and Indiana.
On Thursday, the Export-Import Bank denied financing for Reliance Power Ltd., an Indian power plant company, effectively wiping out about $600 million in coal mining equipment sales for Bucyrus, chief executive Tim Sullivan said.
The fossil fuel project was the first to come before the government-run bank since it adopted a climate-change policy to settle a lawsuit and to meet Obama administration directives.
"President Obama has made clear his administration's commitment to transition away from high-carbon investments and toward a cleaner-energy future," Export-Import Bank Chairman Fred Hochberg said in a statement. "After careful deliberation, the Export-Import Bank board voted not to proceed with this project because of the projected adverse environmental impact."
The bank's decision is puzzling, Sullivan said, because the power plant will meet international standards and the bank's environmental criteria.
The plant is under construction in Sasan, central India, and is scheduled to be up and running in 2012. Coal mining will take place for the plant whether it's done with Bucyrus machines or equipment from China and Belarus, Sullivan said.
"Unless the Obama administration jumps all over this and corrects a wrong fairly quickly, I am confident this business is going elsewhere," Sullivan told the Journal Sentinel on Saturday.
"The bank's decision has had no impact on global carbon emissions but has cost the U.S. nearly 1,000 jobs," he added.
The Export-Import Bank would not elaborate on the board's 2-1 vote - including Hochberg's - to deny the loan guarantees.
The U.S. State and Treasury departments recommended against making the loan guarantees. Neither agency could be reached for comment Saturday.

[dude1394]

I spent almost a trillion dollars and all I got was this t-shirt.

[dude1394]

From WashPost.. Keep right on killing that golden goose and then wonder "wha happened?"..

http://www.washingtonpost.com/wp-dyn...pinion/columns

One CEO told me, "Almost every agency we deal with has announced some expansion of its authority, which naturally makes me concerned about what's in store for us for the future." Another pointed out that between the health-care bill, financial reform and possibly cap-and-trade, his company had lawyers working day and night to figure out the implications of all these new regulations. Lobbyists have been delighted by all this activity. "[Obama] exaggerates our power, but he increases demand for our services," superlobbyist Tony Podesta told the New York Times.

[dude1394]

Barry continues his "stimulus" plan.

WASHINGTON — Diamond Offshore announced Friday that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters immediately — making it the first to abandon the United States in the wake of the BP oil spill and a ban on deep-water drilling.
And the Ocean Endeavor's exodus probably won't be the last, according to oil industry officials and Gulf Coast leaders who warn that other companies eager to find work for the now-idled rigs are considering moving them outside the U.S.

[dude1394]

The guy can't even be a marxist worth a dang.

IG report says Obama GM, Chrysler moves needlessly accelerated job losses

By: Mark Tapscott
Editorial Page Editor
07/20/10 6:51 AM EDT

A report by the Treasury Department's Special Inspector General for the Toxic Asset Relief Program (SIGTARP) contends that President Obama's push for General Motors and Chrysler to close thousands of dealerships across the country as part of their government bailouts "may have substantially contributed to the shuttering of thousands of small businesses and thereby potentially adding tens of thousands of workers to the already lengthy unemployment rolls, all based on a theory and without sufficient consideration of the decisions' broader economic impacts."

Read more at the Washington Examiner: http://www.washingtonexaminer.com/op...#ixzz0uE55QDuX

[aquaadverse]

You can overcome inexperience. You can overcome poor judgement in choosing the people you use for advisors.

But not at the same time.

[dude1394]

You go barry...Way to fire up those employment engines. More and more regulations, uncertainty and upcoming costs to businesses. The country may not be able to withstand two more years of you.

[Underdog]

^ That graph needs to be made into one of those trendy "you're doing it wrong!" motivational posters...

[dude1394]

Must be bush...er....What a cluster...

CBO projects that if current laws do not change, federal spending on major mandatory health care programs will grow from roughly 5 percent of GDP today to about 10 percent in 2035 and will continue to increase there-after. Those projections include all of the effects of the recently enacted health care legislation, which is expected to increase federal spending in the next 10 years and for most of the following decade.

[dude1394]

You go barry...Birds gotta fly, fish gotta swim, democrats gotta tax.

Weekend Wall Street Journal editorial, Democrats Against ObamaCare: The 1099 Repeal Fiasco, and the Snooki Tax: This wasn't a good week for ObamaCare, with Missouri voting to repeal the law and a Virginia judge refusing to dismiss a serious Constitutional legal challenge. Unlikely as it sounds, however, the repeal movement even came to include House Democrats.
To wit, the House voted last week to repeal one ObamaCare mandate. It might have been the first part of the bill to go over the side, except Democrats rigged the vote so that it failed, even though it got a majority.
The target was an ObamaCare footnote that could wreak havoc with more than 30 million small businesses. In the name of smoking out the illusory "tax gap" of unreported business income, Democrats snuck in a requirement that companies track and submit to the IRS all business-to-business transactions exceeding $600 annually. This 1099 reporting detail received no scrutiny until the IRS's National Taxpayer Advocate Nina Olson exposed the paperwork burden, which would produce no improvement in tax compliance. ...
This is the first of many such moments as the public discovers ObamaCare's many buried land mines. Another example got some attention last week thanks to Nicole "Snooki" Polizzi, one of the idiot savants on MTV's "Jersey Shore." The reality star complained on air that "I don't go tanning-tanning [indoor tanning] anymore because Obama put a 10% tax on tanning, and I feel like he did that intentionally for us." If you've lost Snooki, you've lost middle America. ...
This Snooki levy was the first direct ObamaCare tax hike to take effect—the IRS started to enforce it July 1—and like the 1099 mandate, the compliance burden is drastic. The IRS estimates that it takes 36 hours to complete Form 720, which must be filed quarterly. Tanning salons are now trying to reincorporate as gyms, health clubs or "phototherapists" that are exempt from the new tax.

[bernardos70]

I don't care about the tax, I'mma still GTL...... fresh to death! *fist pump*

[aquaadverse]

Funny how the strategy of beating the drum of "failed policies"" that worked under the rule of you can't disprove a negative with nothing to compare it to , fails when you actually have a record.

I'd say the "jobs saved" isn't fooling anyone.

[dude1394]

You go Barry...Economy melting down, trillion bucks to your peeps and you finally get around to doing something.

Even in the gloom of an international economic crisis, there is a bright spot of hope: free trade. Successful trade pacts with Panama and Colombia and a pending agreement with South Korea will serve to accelerate investment opportunities across a broad spectrum of business and industry, including agriculture, communications technology and natural resources — for Canada, that is. As for the United States, the best that can be said is that farmers, producers and exporters here have front-row seats as they watch three-quarters of a billion dollars in potential trade flow northward. In recent weeks, however, President Obama has indicated that he intends to finalize a long-overdue free trade agreement with Colombia. We hope he means it.

[dude1394]

You go Barry...Economy melting down, trillion bucks to your peeps and you finally get around to doing something.

Even in the gloom of an international economic crisis, there is a bright spot of hope: free trade. Successful trade pacts with Panama and Colombia and a pending agreement with South Korea will serve to accelerate investment opportunities across a broad spectrum of business and industry, including agriculture, communications technology and natural resources — for Canada, that is. As for the United States, the best that can be said is that farmers, producers and exporters here have front-row seats as they watch three-quarters of a billion dollars in potential trade flow northward. In recent weeks, however, President Obama has indicated that he intends to finalize a long-overdue free trade agreement with Colombia. We hope he means it.

[dude1394]

This is the Summer of George!! O' wait a minute this was NOT the summer of George but the Summer of the Recovery!!!!!

Like much that our inexperienced community organizer says, it's just not credible. But that's what you get with amateur hour.

NEW JOBLESS CLAIMS RISE TO 500,000...
Highest level in 9 months...
CBO: DEFICIT 9.1% OF GDP... DEVELOPING...

The unemployment rate, currently at 9.5 percent, will not fall to around 5 percent until 2014, Elmendorf said. The last time the jobless rate was 5 percent was April 2008, just as the economy was entering recession. Economists generally view a 4 percent target jobless rate as a benchmark of full employment.

Hopefully by then the congress will have been purged...barry will be out the door thank goodness.. Someone who's actually held a job might get elected.

[dude1394]

What a cluster of epic porpotions.

http://blog.heritage.org/2010/08/20/...y-to-recovery/

When President Barack Obama was selling his economic stimulus plan to the American people, he promised that, if enacted, the legislation would prevent unemployment from rising above 8%. $3 billion in Cash for Clunkers bailouts, $10 billion in government union bailouts, $16 billion in Medicaid bailouts, $13 billion in home buyer tax credits, and $814 billion in stimulus act spending later the nation’s unemployment rate stands at 9.5%. And now the Congressional Budget Office (CBO) says that number is not going to come down any time soon. Yesterday, the CBO released its 10-year budget baseline predicting that the economy will grow at an anemic 2% next year (half the growth rate it predicted last summer) and that unemployment will remain above 9% through the rest of this year. And that wasn’t even the worst news.

The CBO also said the federal deficit will surpass $1.3 trillion this year, and predicted an additional $6.2 trillion in deficits over the next decade. But even these numbers are too rosy. By law the CBO only analyzes federal budgets as written ignoring almost certain policy changes that include the annual “doc fix” (stopping cuts to doctor’s Medicare payments), rising discretionary spending, and tax changes. Using more realistic assumptions, The Heritage Foundation’s Brian Riedl shows that: 1) annual budget deficits will never fall below $1 trillion and will reach nearly $2 trillion by 2020; 2) the national debt held by the public will pass 100% of gross domestic product (GDP) by 2020; 3) by 2020 half of all income tax revenues will go to pay just the interest on our $23 trillion national debt.

[dude1394]

You go Barry...

Obama knew Gulf drilling ban would cost at least 23,000 jobs

By: Mark Tapscott
Editorial Page Editor
08/21/10 10:25 AM EDT

Interior Department officials knew beforehand that President Obama's six-month moratorium on drilling in the Gulf of Mexico would cost more than 23,000 jobs and inflict devastating economic damage throughout the region.
Even so, the administration was not deferred from defying a federal judge and doing it anyway.
Federal court documents examined by The Wall Street Journal reveal a July 10 memo to Interior Secretary Ken Salazar from Michael Bromwich in which he estimated that "a six-month deepwater-drilling halt would result in 'lost direct employment' affecting approximately 9,450 workers and 'lost jobs from indirect and induced effects' affecting about 13,797 more.'"

Read more at the Washington Examiner: http://www.washingtonexaminer.com/op...#ixzz0xH94EFJX

[dude1394]

How interesting..

So the following are facts, based on the government's own figures.

• Obama's stimulus, passed in his first month in office, will cost more than the entire Iraq War -- more than $100 billion (15%) more.
• Just the first two years of Obama's stimulus cost more than the entire cost of the Iraq War under President Bush, or six years of that war.
• Iraq War spending accounted for just 3.2% of all federal spending while it lasted.
• Iraq War spending was not even one quarter of what we spent on Medicare in the same time frame.
• Iraq War spending was not even 15% of the total deficit spending in that time frame. The cumulative deficit, 2003-2010, would have been four-point-something trillion dollars with or without the Iraq War.
• The Iraq War accounts for less than 8% of the federal debt held by the public at the end of 2010 ($9.031 trillion).
• During Bush's Iraq years, 2003-2008, the federal government spent more on education that it did on the Iraq War. (State and local governments spent about ten times more.)

[dude1394]

You go barry and team pelosi...

[dude1394]

Those Joker Products!!!!

Noticeably absent from President Obama's latest economic-stimulus package are any further attempts to create jobs through "green" energy projects, reflecting a year in which the administration's original, loudly trumpeted efforts proved largely unfruitful.


The long delays typical with environmentally friendly projects - combined with reports of green stimulus funds being used to create jobs in China and other countries, rather than in the U.S. - appear to have killed the administration's appetite for pushing green projects as an economic cure.


After months of hype about the potential for green energy to stimulate job growth and lead the economy out of a recession, the results turned out to be disappointing, if not dismal. About $92 billion - more than 11 percent - of Mr. Obama's original $814 billion of stimulus funds were targeted for renewable energy projects when the measure was pushed through Congress in early 2009.


Even some of the administration's liberal allies have expressed skepticism over the original stimulus package's use of green investments as a way to spur quick employment growth at home.


"Spending on renewables is slow to get out of the door. Leaks to foreign companies is an inadequate driver of jobs and growth and may not create a strong exporting industry," said Samuel Sherraden, an economic analyst at the New America Foundation, a Washington-based progressive think tank.
Only about $20 billion of the allotted funds have been spent - the slowest disbursement rate for any category of stimulus spending. Private analysts are skeptical of White House estimates that the green funding created 190,700 jobs.