Obama Refuses to Focus on his own failed
policies
On Aug 5th 2011, Credit
rating agency Standard & Poor's downgraded the United States'
credit rating for the first time in the history of the ratings.
The
Obama Administration says the S&P's analysis contained "deep and
fundamental flaws."
 Who is to blame for the huge number of unemployed
Americans and the economic recession?
Obama blames the weak economy and high unemployment during his time in
office on problems he inherited from Bush, the earthquake and tsunami in
Japan, unrest in the Middle East, the situation in Europe, tax write offs
for corporate jets and the rich.
(Note- The war in Iraq and Afghanistan begun by Bush and inherited by Obama,
cost over a trillion to date)
Financial Facts - Obama in 2011 will oversee the biggest one year
jump of debt in the history of the U S, or nearly $2 trillion in one year.
The gross federal debt will top $15 trillion, officially equaling the size
of the entire U.S. economy.
According to IRS data, the entire taxable income of everyone earning over
$100,000 in 2008 was about $1.582 trillion. Even if all these Americans were
taxed at 100%, it would not cover Obama's deficit for this year.
Today, more than 40% of Americans pay no income tax and nearly 60% receive
some form of government assistance.
The Obama Administration has increased Debt, more than All Past Presidents
Combined.
Under U.S. law, the national debt may not exceed $14.3 trillion. That figure
was reached in May. The U.S. began using two government pension schemes to
service the debt that will only last until August. Raising the debt ceiling
was approved and signed by Obama in August 2011. The Obama Administration
has increased Debt, more than All Past Presidents Combined.
Analysts predict as many as two million U.S. white-collar jobs such as
programmers, software engineers and applications designers will shift to low
cost centers by 2014.
But the biggest companies looking to "off shoring" to cut costs, such as
Microsoft Corp ,International Business Machines Corp and AT&T Wireless, Walt
Disney Co, Time Warner Inc are reluctant to attract attention for political
reasons
General Electric pays no tax in U.S. while moving manufacturing and jobs to
China. GE reported profits of $14.2 billion. Its American tax bill? None.
General Electric is moving the headquarters of its 115-year-old X-ray
business to Beijing. About 60,000 people work at GE Healthcare globally. GE
is not on the Obama "Rich Company Hit List." Obama wants to overhaul the
corporate tax system and he designated G.E.’s chief executive, Jeffrey R.
Immelt, as the chairman of the President’s Council on Jobs and
Competitiveness. Lighting Up The Real News
Boston Scientific is hiring 1,000 people in China and will shift more work
to foreign sites with less government oversight than the U.S.
Other American companies are moving overseas or using foreign workers to
avoid the current Administration's business ignorance.
Bush created all our problems, it's worse than we thought, it'll take
years for our solutions to have an impact.
Tea
Party News
8/2011 Obama Says - He wasts to GROW JOBS RIGHT NOW...How
about the last 2 1/2 years and the promises with all the bailout money -
like unemployment will be under 8% ... or the shovel ready jobs that never
happened?????
Obama prefaces his comments on July jobs numbers by noting that 2011 has
been "tumultuous year" thus far. Obama mentioned the Arab Springs across the
middle east, oil prices and the earthquake and tsunami in Japan as reasons
that halted economic growth in the United States and worldwide. Obama also
used these instances to explain the disappointing number of jobs created in
July.
"We've weathered the Arab Springs effect on oil and gas prices. The Japanese
earthquake and tsunami's effect on supply chains. The extraordinary economic
uncertainty in Europe and recently markets around the globe have taken a
bumpy ride," Obama said this morning. "My concern right now, my singular
focus is the American people. Getting the unemployed back on the job,
lifting their wages, Rebuilding that sense of security the middle-class has
felt slipping away for years."
Video News
Obama Says: Extending Unemployment Benefits Will "Create Jobs Right Now"
????
PRESIDENT: "So, when Congress gets back in September I want to move quickly
on things that will help the economy create jobs right now. Extending the
payroll tax credit to put a thousand dollars in the pocket of the average
American worker. Extending unemployment insurance to help people get back on
their feet. Putting construction workers back to work rebuilding America.
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