The Obama administration keeps spending bigtime while Americans are losing their homes. Bigger government they say we need! When in fact we need to cut taxes not create more taxes. The corporations are hoarding cash because they don’t know what will come their way when Obama is finished with his big spending spree. Obama you need to understand government jobs is not what America needs, we need private sector jobs. I don’t agree with The Huffington Post on many issues but on Jobs Huffington got it mostly right and I agree that education, training and infrastructure would help years down the road, but we need jobs today and less spending by the government. Cut Taxes, Not Raise Taxes!
At a time when the economy is stuck in a deep and unusual malaise corporations are hoarding cash, unemployment is stubbornly high, credit is tight, and most of us can’t figure out how to make ends meet each month we need a bold plan of action. Yet our policymakers are acting as if everything is okay and the economy requires a few minor adjustments. Instead of big thinkers running the show, we have fine tuners.
A failure of imagination, a lack of persistence and a deadly complacency is eviscerating our economy. And millions of Americans who are either out of work, struggling to keep their jobs or relying on their savings to make ends meet are paying the price. If nothing else, let’s start with jobs.SOURCE
Bernanke Says Economy Uncertain
Federal Reserve Chairman Ben S. Bernanke said the economic outlook is “unusually uncertain,” prompting investors to seek safety in the dollar.
The U.S. initial jobless claims rose to 445,000 last week from 429,000 in the prior period
,according to a Bloomberg News survey before a Labor Department report today. SOURCE
The Bush Tax Cuts
President Obama and congressional Democrats are blaming their trillion-dollar budget deficits on the Bush tax cuts of 2001 and 2003. Letting these tax cuts expire is their answer. Yet the data flatly contradict this “tax cuts caused the deficits” narrative.
Mr. Obama asserted in his January State of the Union Address that by the time he took office, “we had a one-year deficit of over $1 trillion and projected deficits of $8 trillion over the next decade. Most of this was the result of not paying for two wars, two tax cuts, and an expensive prescription drug program.”
In short, it’s all President Bush’s fault. But Mr. Obama’s assertion fails on three grounds.
First, the wars, tax cuts and the prescription drug program were implemented in the early 2000s, yet by 2007 the deficit stood at only $161 billion. How could these stable policies have suddenly caused trillion-dollar deficits beginning in 2009? SOURCE