The Government Can

Another thing that speaks for itself. Enjoy!

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Posted under Economy

Written by admin on September 3, 2009

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Obama’s Budget Tightening Farce

It’s official, Obama is asking his Cabinet to cut spending. Has he finally realized the importance of not putting the country into a tailspin of debt? Let’s evaluate…

Obama has asked for a reduction of $100 million. When we are talking about deficits in the Trillions, a few million is a simple drop in the bucket.  AP puts this into perspective:

 

  • Less than one-quarter of the budget increase that Congress awarded to itself.
  • 4 percent of the military aid the United States sends to Israel.
  • Less than half the cost of one F-22 fighter plane.
  • 7 percent of the federal subsidy for the money-losing Amtrak passenger rail system.
  • 1/10,000th of the government’s operating budgets for Cabinet agencies, excluding the Iraq and Afghan wars and the stimulus bill.

 

When you consider that the costs of borrowing the money for the latest “Stimulus” package is $100 million a day, does this effort amount to anything?

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Posted under Economy

Written by admin on April 20, 2009

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A Perspective on Debt

I came across this debt ticker over at Marvelous Medley:

Just look at that number…  $11 Trillion dollars and growing fast! A trillion is a large number, and a bit hard to wrap my head around, so I looked around for some comparisons. I came across this over at tysknews:

Trillion = 1,000,000,000,000. 
The country has not existed for a trillion seconds. 
Western civilization has not been around a trillion seconds. 
One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.

NPR gave this for comparison:

$1 Trillion would be enough money to buy about a 1,000 boxes of Girl Scout cookies for every person in the United States.

And here is a youtube video to give a bit more explaination:

Debt SurgeIt is hard to wrap one’s head around this number. Take the above, multiply it by 11. Now you have our current debt. Next year, we’ll be adding around $2 Trillion to that number. And we will continue to add Trillions to the debt every year until we get this out of control spending in check.

The United States GDP was just over $14 Trillion in 2008. Yes, our debt is nearly as much as our entire GDP! The interest payments on this debt is the third largest item on our budget at over $412 Billion. Now, throw in that the Federal Government alone is slated to spend over 27% of our GDP this year. Certainly someone other than me has to see the obsurdity in this.

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Posted under Economy

Written by admin on March 24, 2009

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WSJ: Public Confidence in Obama Dropping

The Wall Street Journal is reporting that confidence in Obama is rapidly dropping. Obama’s numbers have now dropped to the point that they are lower than President Bush in this point in 2001. His net approval rating was as low as +6% this week according to Rasmussen. The article points out multiple signs of trouble in the polling data:

  • A third strongly disapprove of Obama’s performance.
  • Obama has lost nearly all Republican support and a large portion of Independant support.
  • Support is dropping more rapidly than other Presidents of the 20th and 21st centuries.
  • 83% are concerned Obama’s policies will not improve the economy.
  • 82% are worried about the growing deficit.
  • 78% are concerned about inflation.
  • 69% are worried about Government’s increasing role in the economy.
  • Less should have been spent on the stimulus according to a 3-to-1 margin.
  • Obama’s budget is opposed by a 46% to 41% margin.
  • Voters reject Pelosi’s idea of a second stimulus by a 2-to-1 margin.
  • The feeling is that the mortgage bailout will unfairly benefit the irresponsible by 48% to 36%.
  • 45% do not have confidence in the direction Obama is taking.
  • Less than half suport increasing taxes for expanded health-insurance (17% less support than 1993).
  • Only 20% support the most recent bank bailout.

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Posted under Economy

Written by admin on March 13, 2009

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Cincinnati Tea Party Update

The Cincinnati Tea Party is only 6 days away and I thought I’d give a few updates.

  • Over 4000 people have registered to attend (as of Sunday night)
     
  • The speaker list has grown as well:
    Cincinnati Tea Party Founder Mike Wilson
    Former Congressman Steve Chabot
    Cincinnati City Councilman Chris Monzel
    Hamilton Township Trustee Michael Munoz
    Small Business Owner Harald Zieger
    Secretary – UC College Republicans David Watkins
    Concerned Taxpayer Théa Shoemake
    Financial Planner Tom O’Brien
    Media Consultant Mike Brenner
     
  • Those looking for parking, it is available directly underneath Fountain Square via entry from Vine Street and Walnut Street.
  • An official flyer is available for posting or handing out to friends. 

Let’s hope for a big turnout and have our voices heard. Hope to see many of you there!

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Posted under Economy

Written by admin on March 9, 2009

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