"O"'s Economic Record.......

[greenberetTFS]

http://a4.sphotos.ak.fbcdn.net/hphot...893_n.jpg?dl=1

Big Teddy

[cbtengr]

Has anyone noticed that since the beginning of the year the MSM has done nothing but report how the economy is rebounding and how consumer confidence is getting stronger. In fact yesterday it was reported how Americans were starting to take on more credit card debt. Its an election year miracle for the chosen one. His economic speaks for itself.

[Badger52]

Originally Posted by cbtengr

In fact yesterday it was reported how Americans were starting to take on more credit card debt.

Depends on what they're breaking out the card for. If they're livin' large & haven't learned a thing, that's one possibility. If they're strapped and the plastic is the last straw that lets them fix the car to keep job-hunting, then they may be on the brink.

[Paslode]

Originally Posted by cbtengr

Has anyone noticed that since the beginning of the year the MSM has done nothing but report how the economy is rebounding and how consumer confidence is getting stronger. In fact yesterday it was reported how Americans were starting to take on more credit card debt. Its an election year miracle for the chosen one. His economic speaks for itself.

I think it may have been going on longer, but Yes I have. Like the Jobless claims that get widely heralded by the media and then 7-10 days later the numbers get revised and the media is quiet about it. Those numbers don't include people who have remained unemployed and exhausted their benefits.

Or how about all that hype on holidays sales which turns out is pretty bleak.

Zerohedge.com does a good of reporting reality.


As for credit cards use, my business continues to see a decrease in cc transactions and an increase in cash and checks.

[glebo]

This really puts it in perspective. Regardless of your political persuasion it appears both parties are totally incompetent

This cuts thru all the political doublespeak we get.
It puts it into a much better perspective.
Copied from an email this AM...don't know how accurate it is...but ya get the picture


Lesson # 1:

* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let's now remove 8 zeros and pretend it's a household budget:

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385

[greenberetTFS]

Originally Posted by glebo

This really puts it in perspective. Regardless of your political persuasion it appears both parties are totally incompetent

This cuts thru all the political doublespeak we get.
It puts it into a much better perspective.
Copied from an email this AM...don't know how accurate it is...but ya get the picture


Lesson # 1:

* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let's now remove 8 zeros and pretend it's a household budget:

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385

Big Teddy

[Paslode]

Things are just fine.......

Treasury Resumes Pillaging Retirement Accounts To Fund Deficit Spending Until Debt Ceiling Raised

Back on January 5, when we first broke the news that the US debt ceiling has been reached, and breached, yet again, we said "And now the Social Security Fund pillaging begins anew until Congress signs off on the latest interim debt ceiling increase." Sure enough, operation rape and pillage is a go.

U.S. SUSPENDS PAYMENTS TO PENSION FUND TO AVOID DEBT CAP BREACH
GEITHNER INFORMS CONGRESS ON SUSPENSION OF PAYMENTS TO FUND
GEITHNER SAYS `G' FUND PARTICIPANTS `UNAFFECTED' BY SUSPENSION
GEITHNER SAYS `G' FUND TO BE MADE WHOLE AFTER DEBT LIMIT RAISED
GEITHNER: DEBT LIMIT WILL BE INCREASED JAN. 27 UNLESS BLOCKED

In other words: Congress better pass the debt ceiling prontt, or else it will have to explain to government retirees the tens of billions in deficit funds, i.e., marketable debt, already issued will permanently offset the level in G-fund holdings.

Lastly, any comparison to similar acts of commingling performed by other insolvent entities in recent months is purely coincidental and no Obama handlers were thrown in jail as a result of this post.

http://www.zerohedge.com/news/treasu...ceiling-raised

[BOfH]

A relative of mine who works for NYDOT recently relayed the following to me: NYDOT has been struggling for Federal cash for some time now without much success, however very recently a very large chunk was made available to them, the condition: "shovel ready" projects only, or the money goes away. Now, any good engineer knows that most projects require some sort of planning, and with the amount of bureaucracy that the DOT faces when trying to do anything(EPA/DEP usual culprits), planning and approval takes some time, usually 8-10 months or so. Which brings us to the August - November 2012 time frame. Now consider unemployment in NY, the recent Republican(Bob Turner) upset in a traditional Democratic stronghold, makes for a volatile election year in NY, especially for the Dims. The answer, put a bunch of people to work, temporarily deflate unemployment, and hope that people have had amnesia for the past four years. Coincidence? I think not...

[Badger52]

Originally Posted by BOfH

Now consider unemployment in NY, the recent Republican(Bob Turner) upset in a traditional Democratic stronghold, makes for a volatile election year in NY, especially for the Dims. The answer, put a bunch of people to work, temporarily deflate unemployment, and hope that people have had amnesia for the past four years. Coincidence? I think not...

Classic FDR.