Record-High 71 Percent Disapprove of How Obama's Handling Deficit, Says Gallup

The number of people clinging to the hope and change bullshit is dropping dramatically. While I'm glad that people are starting to see the light, I can't help but wonder what took them so long. It's not a big surprise that obama is destroying our Country bit by bit, he has been doing it since day one.

No matter how bad things get and how obvious it is that is directly related to the business killing, economy killing, job killing policies of this administration, there will always be some who feel obama can do no wrong. We can't change that, and frankly, that's ok. As long as the vast majority of Americans feel the need to change directions, we will be fine...

By Terence P. Jeffrey - CNSNews

In polling done a little more than a week after he signed legislation to lift the legal limit on the federal debt by as much as $2.4 trillion, the percentage of Americans saying they disapprove of the way President Barack Obama is handling the federal budget deficit hit an all-time high of 71 percent in the Gallup poll. 

From Aug. 11-14, Gallup asked 1,008 American adults: "Do you approve or disapprove of the way President Obama is handling the federal budget deficit." Only 24 percent said they approved while 71 percent said they disapproved.

Obama's approval for handling the deficit fell 8 points, and his disapproval rose 8 points since the last time Gallup asked this question, which was in a survey conducted May 12-15. At that time, 32 percent said they approved of how Obama was handling the federal budget deficit and 63 percent said they disapproved.

Gallup has polled Americans on whether they approve or disapprove of the way Obama is handling the deficit a twelve times during Obama's presidency. In those twelve Gallup surveys, a majority has never said they approve of the way Obama is handling the deficit.

Dow up today... 430 points

Wow, what a change from yesterday. You know what the biggest difference was? obama wasn't flapping his yap all over the place. He opened his mouth yesterday while the Dow was down 300 points and while he talked it fell another 300+ points. When will the guy learn just to shut up?

I saw this picture over at The Feral Irishman and thought I would borrow it.

It's incredible really, our credit rating has survived some very trying times and stood strong. It has never met a group of socialists like this before though. Couple the fact that obama and his gang of thugs are complete idiots with their socialist ways and it is a recipe for disaster.

It's also interesting that these assholes refuse to take any of the blame for our current fiscal nightmare. They continue to blame Bush, or the oil spill, or the Japan earthquake, anything but their own bumbling, stumbling, idiot selves.

Remember what I said yesterday about the ammo, beans and rice? I wasn't kidding. Stock up people. We are headed for some very dark days, don't be unprepared...

Who the hell is martin o'malley?

The democrat governor of Maryland claims that the Republicans are holding up the debt ceiling talks to damage the economy and ruin obama's chances in the 2012 election.

Are you shitting me? Where has this dumbass been for the last two and a half years? obama and his gang of thugs have done more damage to this economy than any president in the history of our Country. They have even done more damage than the peanut farmer, jimmy carter. obama is destined to be known as the worst president in history.

Maybe o'malley should do a little research before he says things that make him look like an idiot. The economy is ALREADY in bad shape, thanks to obama. There is very little Republicans could do at this point to make it worse. There is though, a lot they could do to make it better. But not by themselves. And the democrats don't care about anything but spending money they don't have and their own re-election.

o'malley needs to take a trip out of Maryland and see the rest of the Country. He needs to take a look at the current unemployment rate. Not the bullshit numbers that the obama administration are putting out, but the actual number of unemployed people. While the posted number is 9.2% the actual number is closer to 15% or higher. And when you figure in the number of people who are underemployed, it is catastrophic.

This is how the entire election season is going to go. democrats, even ones you have never heard of like o'malley, will try to blame Republicans for all the troubles of the world. They have nothing to run on, nothing. All that's left is to try and distract us from the real issues. It won't work on me, how about you?

President obama Doesn't Know the First Thing About Economics

Isn't this what I have been saying for almost 2 and a half years? The democrat method for getting more money to spend is to increase taxes. While there are BILLIONS of dollars in waste in our government, raising taxes requires no research or due diligence, it's a simple stroke of the pen.

With redundant and wasteful programs by the hundreds, you would think that the very first thing our government would do is ensure that the money they are already spending is being done so wisely. That is never the plan, ever. That's why there are so many ways OUR money is being wasted.

obama has no clue. Every time he opens his mouth concerning the economy the stock market tanks and a company lays off a thousand people. At this point, it would be better if he just didn't say anything. obama doesn't even understand the most basic pieces of our economy. If he doesn't realize that by now, someone should tell him. And if his advisors have tried that, maybe something a little stronger is in order.

It's been painful to watch what has happened to our Country of the past couple of years. And there are no signs that it will get better any time soon...

By Iain Murray - FoxNews

As the Oscar buzz surrounding actress Meryl Streep keeps growing -- thanks to her portrayal of Margaret Thatcher, it’s worth remembering one of the real Iron Lady’s most famous observations: that any housewife could manage the British economy.

President Obama should heed that advice, and realize that economy begins at home. Unfortunately, his recent statements on the economy give little reason for hope on that front.

The president’s press conference on Monday epitomized the “do something” nature of his administration. He wants to do something about … well, everything—from getting more kids into college to fighting global warming (although the latter is less evident these days, at least in public). The trouble is that he thinks he needs more and more of our money to do it, so he wants any budget deal to include tax rises.

Let’s take the example of college education grants, which the president suggested should be funded by an increase in taxes on millionaires like himself. The president’s budget request for 2012 contains an allocation of $36 billion for increased Pell grants for students from poor backgrounds to attend college. That’s out of an entire federal budget request of $3.7 trillion, which makes Pell grant expenditure just 1 percent of the total.

Looking at that from the viewpoint of Mrs. Thatcher’s proverbial housewife, we can compare it to the median household income of about $46,000, which, after taxes, is about $3,000 a month.

The size of the problem that President Obama singles out as requiring tax increases is equivalent to a household budget shortfall of $30 a month. A competent economic manager should be able to deal with that sort of problem by tightening his or her belt elsewhere. The president’s seeming incapability to contemplate this demonstrates just how out of control the federal spending machine is.

Potential budget savings abound. The Heritage Foundation has identified about 90 programs that can be reduced or eliminated entirely at a savings of $343 billion annually. If the president were to agree to half of these, he could keep his Pell grant increases and still reduce discretionary spending by about $170 billion, no tax increase needed.

When it comes to his justification for tax increases, the president’s ignorance of basic economics shows through even more.

He has suggested that tax increases would stop him personally from keeping hundreds of thousands of dollars that he doesn’t need. So now we know what the president does with his book money – he throws it on a pile, like Tolkien’s dragon Smaug.

However, that’s not what wealth creators do. They either spend that “excess” money, providing jobs for people who make or import the things they spend it on, or invest it, thereby creating more jobs and more wealth which they can reinvest.

The obstacle in this virtuous circle is government’s intervention, which either makes the investment unviable owing to too much regulation, or takes away the profit through taxation, which is what Obama seems to want more of.

The president’s “do something” government is grossly exacerbating the great jobless recovery he laments. Sixty-four percent of small businesses will not hire any new employees over the next year, while 79 percent state that taxation, regulation, and legislation make it harder for them to hire more employees, according to the U.S. Chamber of Commerce.

Read the rest at the link above...

Nothing in the news today...

More crap about weiner's weiner. Who really cares?

obama and his gang of thugs are going to concentrate more on business than "rescue phase" to save the economy. That has to have business owners in mortal fear. obama and his thugs need to quit fucking with the economy. Step away. Leave stuff alone. If they would butt out, the economy would fix itself in a short amount of time.

Thanks to obama, Israel is having clashes with protesters on their borders. obama and his big fucking mouth. A U.S. president even suggesting that Israel return to pre 1967 borders suddenly legitimizes the issue. What a dumbass.

unemployment continues to rise...

9.1%. The number is complete bullshit, it's probably closer to 12% and maybe even 15%. And 9.1% would be bad enough.

And while the number of people losing their jobs continues to climb, obama continues to try and blow smoke up our ass. How can anyone in this Country believe a word this guy has to say? A single word? He sits around glad handing people in Ohio, painting a rosy picture of the job outlook and the economy while the world crumbles around us.

He is either the most clueless person in this Country or the most evil.

I go back and forth on that. At times it seems as though he has put together the perfect plan to drive our Great Nation into ruin. And other times he appears to be the most incompetent politician in the history of our Country. And that's saying alot, because there have been some dumbass politicians. But never do I believe he is truthful or cares about this Country.

One of these days, in the not so distant future, after we have begun to recover from the damage this socialist scumbag has caused, we will think of him like we do jimmy carter, as a joke. His inability, or unwillingness, to do anything positive for this Country is etching his legacy in stone.

This is what happens when 52% of the population votes for an unqualified, inexperienced candidate with the ability to read a teleprompter simply because they feel guilty for being white. Our Country is a very complex machine. To run it requires a set of skills obama will NEVER possess...

Ireland, don't be stupid...

So, I see a headline today that reads, "Irish Economy of Top Concern During Obama Visit". Believe me, Ireland, this is the LAST guy you want to take any kind of economic advice from. Just look at all the wonderful things he has done for our economy in the two years he has been in "office". He has raised our debt by about $4 TRILLION DOLLARS!

He has no experience at saving an economy and even worse he has no clue, about anything. Don't let your leaders implement anything this guy suggests and don't buy into his ability to read a teleprompter. He is no messiah. He is a pretender and he will force your Country into bankruptcy...

Obama's Scandalous War Against Domestic Oil

obama gets a pass where George W. Bush was crucified, big surprise there. It's funny how the hypocrisy works isn't it? Like the article says, obama's policies are actually contributing to the high fuel prices.

There is no section of our economy that isn't hurt by the high price of gas. Food prices go up because of transportation costs. The tourism (hotel, motel, restaurant, air travel, amusement parks, National Parks, on and on) industry suffers because people can't afford the fuel to travel.

Even attractions local to people will suffer because they don't have the disposable income to go to the movie theater, or McDonald's. When people spend every extra dollar they have on gasoline to get back and forth to work, it does damage to every part of our economy...

by  David Limbaugh - Human Events

Do you remember the terrible things the left was saying about President George W. Bush when gas prices soared under his watch? Yet President Obama, whose policies and actions are actually contributing to rocketing gas prices today, gets the usual mainstream media pass.

Is it that the liberal media exempt Obama from accountability because they're on his team in general? Is it because they think he's blameless in the equation even though they sprang to the unfounded conclusion that Bush was culpable? Or could it be that they aren't critical because they share his bias against conventional energy and believe the pain caused by his policies is necessary to move us toward alternative energy sources?

During Bush's term, gas prices went down 9 percent, adjusted for inflation. Yet, preposterously, he was excoriated for allegedly colluding with "big oil" to drive up prices. When prices spiked later in his term, he took proactive steps to increase our supply and reduce prices, and they worked. But Obama has taken action to impede conventional energy sources and shove us into alternative ones. Even so, liberals ignore any possible causal links.

Obama told us he would bankrupt the coal industry. He's pushing high-speed rail down our throats despite the lack of public demand for it and our inability to finance it. Transportation Secretary Ray LaHood said the administration intended to coerce us out of our cars. Energy Secretary Steven Chu said, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe."

In view of exploding gas prices, why aren't these statements seen as scandalous? Where are the calls for investigations?

Obama demeans "big oil," pushes alternative energy every time he gets a chance and does everything in his power to suppress domestic oil production, then looks us in the face and tells us he's increasing domestic production -- kind of like how he says his budget won't add a penny to the national debt. The audacity is of Hollywood magnitude, and so is the lack of scrutiny that enables it.

Behind the smoke and mirrors of his rhetoric, it's hard not to conclude that Obama's on a mission to suppress or shut down the existing oil infrastructure in the United States in pursuit of his stated alternative priorities.

The Heritage Foundation's Rory Cooper reports that, as of February 2011, at least 103 permits were awaiting review by the Bureau of Ocean Energy Management, Regulation and Enforcement. And since February, the administration has issued on average only 1.3 permits a month, a 78 percent reduction in the monthly average according to the latest Gulf Permit Index.

Obama even reversed an earlier decision to open access to coastal waters for exploration, placing a seven-year ban on drilling in the Atlantic and Pacific Coasts and in the eastern Gulf of Mexico. Oil production in the Gulf is expected to drop by 220 thousand barrels per day in 2011, which is going to cost the U.S. some $1.35 billion in revenues in 2011.

Not only are we losing oil production and revenues, the administration's actions are destroying jobs in the oil industry and elsewhere. Many companies are going out of business. The Heritage Foundation reports that Seahawk Drilling, of Houston, laid off 632 employees before recently filing for bankruptcy as a direct result of Obama's moratorium and subsequent "permitorium." Seahawk owned and operated 20 shallow-water rigs in the Gulf. Randall Stilley, president and CEO of Seahawk, said, "As an American, you never want to look at your own government and say they're hurting you personally, they're hurting your business and they're doing it in a way that's irresponsible. I'm not very proud of our government right now and the way they handled this."

Read the rest at the link above...

Why won't our economy recover?

A big part of our economy revolves around disposable income. People use the money they have left over after the bills are paid, disposable income, to eat at McDonald's, go to the movies, buy flat screen TVs at Walmart, take a vacation, stay at hotels, etc.

Every one of these activities stimulates our economy. These activities enable places like McDonald's and Walmart to hire more help, which also helps our economy grow, and results in more tax paying citizens. Those additional tax paying citizens spend their disposable income, further growing the economy.

When gas prices go through the roof, like they are now, take a guess at where people spend the income they would otherwise use to eat out or buy other goods and services. You got it, at the gas pump. In an economy that is already in the toilet, the effects are even worse.

So while obama sits around with his thumb in his ass, gas prices continue to rise and our economy continues to decline. Until the oil companies in this Country are allowed to do what they do best, drill for oil, it will be impossible for a recovery to take place.

As far as the profits of the evil oil companies are concerned, keep this in mind, the government makes more on a gallon of gasoline than the oil companies. Also, unlike obama's pet company, GE, the oil companies actually pay taxes, a lot of taxes. Some oil companies pay more in taxes than they make in profit. And don't forget that oil companies pour much of their profits back into the company in the form of exploration, research and development.

For a further look at oil company profits, see the post by Joe Texan below.

EPA Regulations Strangling America

Billions and billions of dollars in budget money and virtually unlimited power. The epa is doing everything that it can do to wreck our economy by imposing insane standards on companies and coming soon, even individuals. The epa is denying oil companies the ability to drill for oil in our Country, making it impossible for us to become free of foreign oil. The epa is telling us what kind of light bulbs we can use.

Our economy is bordering on collapse and the epa still makes unreal demands of companies.

The worst part about the epa, they don't give a damn what we, the public think or say, and there isn't a damn thing we can do about it...

by Rep. Ted Poe - Human Events

Right now, someone is sitting at a large oak table in the EPA’s marble palace in Washington, D.C., sipping a vanilla latte and dreaming up a new rule to impose. Without fail, the EPA continues to come up with ideas that leave you scratching your head in wonderment because of the questionable science used to justify these regulations. Instead of protecting the environment, these rules dreamed up by the EPA in Washington are destroying American industry and killing job creation, which is just what our economy needs right now. This type of federal meddling is exactly what causes companies to lay off workers, move overseas, and in many cases, fail. The purpose of the Environmental Protection Agency is to protect the environment—not to regulate American industry into nonexistence.

The EPA’s blatant disregard of the fragile state of our economy is alarming. Businesses in the United States already are operating in an environment of uncertainty, which makes investors hesitant to invest in American businesses. The EPA’s efforts to force companies to comply with its expensive (and many times environmentally unnecessary) regulations will inevitably increase the cost for businesses, and accordingly consumers, and destroy job growth. If the EPA continues on its crusade of destruction and over-regulation, manufacturing and energy companies will take their business to friendlier lands overseas, jobs will be destroyed, and the environment will not be any better off.

In the name of saving us from ourselves, the EPA continues to abuse its power. The mother of all mandates is the proposed cap-and-trade regulations. Houston, Tex., is the energy capital of the world, and my area of southeast Texas is home to more energy companies and facilities than almost any other location in the United States. What I hear most often from the businesses that supply the energy that our country demands is that these questionable regulations will significantly increase costs that make doing business in the U.S. too difficult. This type of over-regulation will crush the economy and put thousands of people out of work. What makes the EPA’s proposed regulations most disturbing is that Texas has been successful on its own in ensuring clean air through the Texas Commission for Environmental Quality. Despite Texas’ own progress, the EPA is looking for more to control, arrogantly ignoring the will of the people and the will of Congress.

The American people have rejected the EPA’s cap-and-trade regulations overwhelmingly, and this month, the House of Representatives passed the Energy Tax and Prevention Act that would prevent the EPA from regulating greenhouse gasses (i.e., carbon dioxide). Of course, this caused the fear-mongerers to scream that we don’t care about the environment. What was left out of their talking points is that this legislation does not prohibit the EPA from regulating those hazardous pollutants that are harmful to public health. We await the Senate's action on this bill.

The Environmental Police Agency’s assault on our economy and state does not stop there. It wants to control what kind of light-bulbs Americans use, how much power the utility companies generate, the “particulate coarse matter”—more commonly known as dust found on farms and ranches, how much water we have in our toilets, and one of the newest ones: What kind of anti-bacterial soap we use to wash our hands. That’s right, the EPA’s overstepping of authority now touches almost every aspect of our lives. So, if you’re a mom who has been using the same soap for years to protect your children from spreading germs, sorry. You need to go to the pharmacy and buy some new “improved” EPA-authorized soap. While you’re there, you should pick up a box of only-Made-in-China compact fluorescent bulbs—because thanks to the EPA—incandescent bulbs will be banned by 2014.

Read the rest at the link above...

Laffer Curve...

Have you ever heard of the Laffer Curve? I hadn't until several months ago. It's a little like the Bell Curve for grading in school, but this is for determining the optimal tax rate in an economy.

The Laffer Curve basically says that at 0 percent taxation the government gets $0 dollars in revenue, and at 100 percent taxation the government gets $0 dollars in revenue. At 100 percent taxation there is no incentive for people to earn money. Instead bartering and other means of trade take the place of cash transactions.

Based on those assumptions, there has to be a tax rate in between that keeps the people happy while generating the revenue government needs to function.

When Ronald Reagan took over after jimmy carter almost drove our economy into the ground, he used the Laffer Curve, in part, as a basis for dropping the highest marginal tax rate from 70 percent to 31 percent. It resulted in a massive increase in revenue to the federal government. Of course, congress continued to spend every single nickle that came in, and then some, so no surplus was ever attained.

It's hard to believe that taxing people LESS brings in MORE money, but it works. That isn't always the case, but historically in this Country it is very effective.

obama and his gang of thugs think that taxation is the key to solving our financial crisis. It isn't. Cutting spending is the first step. Reducing the size and influence of government is also a good step. Businesses have to have some freedom in order to be innovative. Innovation leads businesses to employ more people, more people paying a lower tax rate increases revenue to the government.

obama also talks constantly about the evil rich people. They don't pay their fair share. There are three points I would like to make about that.
1. The top 1 percent of wage earners in this Country pay 40 percent of the tax burden. Compare that to the bottom 45 percent who pay no taxes at all. Who is actually carrying the burden?

2. Rich people in this Country employ millions of people. The small business is the backbone of this Country. We are losing small businesses every day to uncertainty with the economy, over regulation, over taxation and just a general hostile environment created by this administration.

3. Companies and corporations don't pay tax. Sure, they may send money to the federal government, but they offset that money by increasing prices on goods and services or being unable to afford raises and other benefits for their employees.

One last thing, it is not evil for a company to make a profit. Profits mean more research and development which results in better products. It means raises for employees. It means charitable donations. It means putting more money back in to our economy.

obama is bad for our Nation. He is anti-American in every sense of the word. His plot to turn us into a third world nation is dangerous. His underhanded and dirty tactics should not be tolerated. The press in this Country have given him a free pass from the moment he emerged from the chicago slime. Will the press be as forgiving when he comes for them?

For more information on the Laffer Curve, and other examples, visit this link...