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Old 08-25-2009, 01:46 PM   #1 (permalink)
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Recovery won't improve unemployment

"The mood regarding the U.S. economy may be inching, ever so slowly, toward optimism. But don't expect to see much improvement on the jobs front anytime soon. The economy's following a script for a jobless recovery, and unemployment is likely to stay high, if not get slightly worse."

http://money.cnn.com/2009/08/25/news...ion=2009082513

Recovery with high unemployment, it is not recovery!

Most economic recoveries led to employment increases.
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Old 08-25-2009, 06:26 PM   #2 (permalink)
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Basically it's just a formal assurance to say look ahead, keep the faith, and things will get better. In reality people aren't convinced, and things aren't really looking up, or the defining forces believe we mere mortals have resigned to our faiths and have adapted to living without jobs.
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Old 08-25-2009, 06:57 PM   #3 (permalink)
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From the George W Bush School of Politics: Repeat it over and over enough and people will start to believe it's true! Rumsfeld did it, Rice did it, Cheney did it and Bush did it.

And it worked.

But times are changing...

White House projects bigger deficits, bigger debt

WASHINGTON (AP) — The U.S. government faces exploding deficits and mounting debt over the next decade, White House and congressional budget officials projected Tuesday in competing but similar economic forecasts.

Both the White House Office of Management and Budget and the nonpartisan Congressional Budget Office predicted the budget deficit this year would swell to nearly $1.6 trillion, a record, and far above the then-record 2008 budget deficit of $455 billion.

Read full story here.

Let me put that another way: The White House OMB and the Congressional Budget Office say the deficit will well more than TRIPLE in less than ONE YEAR! From $455 million to $1.6 Trillion!

And it's not all Bush's fault. There's Obama's change for ya.

"But while figures released by the White House foresee a cumulative $9 trillion deficit from 2010-2019, $2 trillion more than the administration estimated in May, congressional budget analysts put the 10-year figure at a lower $7.14 trillion.

"One reason for the difference: The CBO projection is based on an assumption that all the tax cuts put into place in the administration of former President George W. Bush will expire on schedule by 2011 as dictated by current law. President Obama's budget baseline, however, hews to his proposal to keep the tax cuts in place for families earning less than $250,000 a year."

Oh, really?

"At the same time, the continuing stresses on the economy have, in effect, increased the size of the stimulus package because the government will have to spend more in unemployment insurance and food stamps, Orszag said. He said the cost of the stimulus package — which spends most of its money in fiscal year 2010 — will grow by tens of billions of dollars above the original $787 billion."

Guess what, your taxes are going to go up no matter how much money you make and no matter what Obama says. There's no way he can cover these rising costs without a tax increase! Don't believe what comes out of Obama's mouth because he's living in a fantasy world!

Meanwhile, he's still marching forward to provide health care for illegal immigrants:

Obama Denies Existence of Health Care Loophole for Illegal Aliens

Last Thursday, President Obama appeared on the Michael Smerconish radio show and stated that none of the health care bills in Washington D.C. would give illegal aliens taxpayer-funded health care.

When pressed by a caller to Smerconish's radio show, President Obama suggested that organizations that correctly explain the illegal alien coverage loophole are spreading misinformation. President Obama stated: "This has been an example of just pure misinformation out there. None of the bills that have been voted on in Congress, and none of the proposals coming out of the White House propose giving coverage to illegal immigrants — none of them." (Politics Daily, emphasis added). Clearly, he chose these words very carefully so that they suggest one thing, but mean another.

Read full article here.

What do you think it is going to cost you in higher taxes to provide health care for illegal immigrants? There is nothing in either health care bill requiring identification be checked to determine citizenship. As a matter of fact, identification checks were proposed but voted down:

"At the Ways & Means Committee markup of the House bill, Rep. Dean Heller (R-NV) tried to include an eligibility verification process, using existing government databases, to screen applicants' eligibility for the public plan and the affordability credit. His amendment was defeated at the committee on a party-line vote." (This comes from the above-mentioned fairus.org article.)

The only way illegal immigrants would not get health care would be if they didn't sign up for it!

Who does Obama think he's fooling?
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Old 08-25-2009, 07:19 PM   #4 (permalink)
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Financial Health of Social Security, Medicare Worsens in Past Year

"The Congressional Budget Office recently projected that Social Security will collect just $3 billion more in 2010 than it will pay out in benefits. A year ago, the CBO had projected that Social Security would have a much higher $86 billion cash surplus for the 2010 budget year, which begins Oct. 1.

The trustees report projected that Social Security's annual surpluses would "fall sharply this year," then remain at a reduced level in 2010 and be lower in the following years than last year's projections. The report said that the Social Security annual surplus would be eliminated entirely in 2016, reflecting increased demands from the wave of 78 million baby boomers retiring.

That means Social Security will have to turn to its trust fund to make up the difference between Social Security taxes and the benefits being paid out beginning in 2016. The trustees projected the trust fund would be depleted in 2037, four years earlier than the 2041 date in last year's report.

At that point, the annual Social Security taxes collected would be enough to pay for three-fourths of current benefits through 2083. To tap the trust fund, the government would have to increase borrowing or raise taxes because Social Security bonds exist only as bookkeeping entries."

http://www.foxnews.com/politics/2009...ailing-faster/

Everything looks scary.
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