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Your So-Called Economic Recovery at work
Where’s the hope and change that was promised to Americans in 2008, when then candidate Barack Obama was campaigning for the Presidency? Now, the hope has dissolved, along with your change. Over the course of Obama’s term as President, we have seen unemployment numbers at an all time high, and the government continues to spend above and beyond its limits.
Despite unemployment and government spending, there are two additional factors that will prove the economy is in a downslide. Take for example, yesterday, an independent ratings agency, Weiss Ratings, indicated that the U.S. rating should be a ‘C’. According to Martin Weiss, President of Weiss Ratings, a ‘C’ Rating is comparable to a triple-B S&P rating. These ratings are justified by the massive debt burden and economic volatility.
The other factor that does not bode well for economic recovery is the decline of the dollar. According to a Reuters report, the dollar fell to a three-year low due to the unemployment numbers.
The question remains: When will the federal government wake up and actually address the debt burden and unemployment? This is not recovery by any stretch of the imagination.
Is it me…
or is the President Obama taking one too many vacations? Just to think that during the Bush Administration, the Democrats were complaining about President Bush’s working vacations, and now, they are mum about Obama’s numerous vacations. While Obama and his family are enjoying their time in Martha’s Vineyard, let’s take a look at the number of people unemployed and wishing for steady income.
According to the Christian Science Monitor, unemployment insurance claims have spiked to their highest number since late 2009. 500,000 Americans filed unemployment claims. Add to that, the national debt continues to spiral out of control. The national debt now sits at $13,310,379,000,000.00.
Meanwhile, Obama continues to enjoy his vacation. Why doesn’t he address this situation before we head into an even greater depression? Worst than the one under President Warren G. Harding. Wait a second…we are already there.
Remember this in 2012, people. The hope and change you placed into office in 2008 has failed you…and looks like it will doom you as well.
IOUs Become Main Method of Payment for California
Mismanagement and giving into the unions have finally landed California right where they needed to be…in financial peril. The fiscal situation has been driven to the point, where the state has been issuing IOUs as a form of payment because they are unable to pay their bills.
According to NBC Los Angeles, John Chiang, California’s Controller will be issuing IOUs to cover payments to schools. With California on the verge of bankruptcy due to the Governor and the Democratic legislature being unable to come to a consensus over the budget, this might be the sole form of payment for a while.
Meanwhile, California’s economic woes continue on, along with our federal government’s decision to spend like there’s no tomorrow. Today, The Wall Street Journal released an article detailing the federal government spending, which totals $165.04 Billion. It’s only a matter of time before all of the cards collapse and the U.S. is stuck issuing IOUs as forms of payment. Unfortunately, taxpayers will be the ones holding the bill.
Special House Session Reveals Another Bailout
Just what our country needed…another bailout. Thanks to the Democrats in Congress who ignored the wishes of their constituents by voting for H.R. 1568, a no-name bill that will dump borrowed dollars into the states. Tertium Quids reports that this bill was used to prevent teacher and public safety worker layoffs. Additionally, the House also voted to let the lame duck session (the session from Election Day to December) continue as planned, blocking a resolution proposed by Republicans that would eliminate this session to prevent House Speaker Nancy Pelosi’s agenda from moving forward.
How did Virginia’s Congressional Delegation vote:
H.R. 1586:
Voting YEA Connolly, Nye, Perriello, Moran, Scott, Boucher
Voting NO Forbes, Goodlatte, Wolf, Cantor, Wittman
Blocking Lame Duck:
Voting for Lame Duck: Connolly, Perriello, Boucher, Moran, Scott
Voting to block Lame Duck: Nye, Forbes, Goodlatte, Wolf, Cantor, Wittman
Sounds to me that voters should remember those voting in favor of H.R. 1586 (continuing to drive America further into debt) and Lame Duck.
Whatever happened to the Budget?
There is a question that the Americans should be asking Congress and that is: Whatever happened to the budget? It seems like a simple question that is usually addressed every year by Congress, but this year, distractions have popped up. For example, there’s the oil spill, fiscal regulatory reform, and yes, even some meddling in the European Debt Crisis. The budget has hit the wayside.
BankruptingAmerica has a great video out addressing Congress’ ignorance of the budget. The question is: Will they address it this session or will it be saved for the new Congress?
