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Posts Tagged ‘Green industry’

 

The non-partisan Congressional Budget Office projects that publicly held debt will reach 56.1 percent of GDP under current law. If President Obama’s budget is implemented, CBO projects debt to reach 82.4 percent of GDP  according to http://www.heritage.org/research/features/BudgetChartBook/Obama-Budget-Increase-Debt-26-Percent-GDP.aspx 

You can keep track of our spending ways at the National Debt clock  http://www.brillig.com/debt_clock/ 

While George Bush may not be a saint, but Obama is looking more and more like a sinner- spending more than any other President in history. The National Debt was $10.6-trillion on the day Barack Obama took office, if his budget projections come to fruition, he’ll run up nearly as much government debt in four years as President Bush did in eight. 

From, A Pfennig for For your thoughts http://www.dailypfennig.com/ , “we’ll see the Budget Deficit, which is expected to be $180 Billion for the month of May… If it tallies there at $180 Billion, the Budget Deficit in the first 5 months of this year will have exceeded $650 Billion… And that’s before the $787 Stimulus gets added… And other items that will come along… And don’t forget that we posted a deficit in April!  I still believe the Budget Deficit will be at least $3 Trillion this year! That would push our National Debt to around $14 Trillion…” For a great explanation of “why do the annual federal budget deficits not match increases in the national debt,” visit http://www.independent.org/blog/?p=2355

Twice as nice for a Wednesday, both Trade Deficit and Budget Deficit will be released today. Ten Banks are going to repay their TARP (troubled assets relief program) funds, to the tune of nearly $70 billion, but that will barely put a dent in America’s economic decline, say nothing of the move toward socialized everything. 

Senators Joseph Lieberman (I-Conn.) and Lindsey Graham (R-S.C.)”vowed again Tuesday to vote against — and, if possible, filibuster — the troop-funding bill and all other legislation until they get their way,” according to http://www.huffingtonpost.com/2009/06/09/lieberman-graham-threaten_n_213262.html The hissy fit is over a photo amendment that would prevent the release of the Gitmo torture photos forever and ever.

“Transparency in government is an American value, but it is not without limits, no more than any of the values embraced in our Constitution,” Lieberman said. “The transparency in this case is needless and dangerous transparency.”

Their actions have merit.  The world does not need to see how low America stooped.  Too bad these two didn’t have the balls necessary during the campaign to warn that an Obama administration of transparency, would only come when it was convenient for Obama.  If nothing else, this Senate delay saves us a few bucks while the debate goes on.

According to CNN- President Barack Obama on Tuesday proposed making “pay-as-you-go” rules for federal spending into law.  The so-called PAYGO proposal requires Congress to balance any increased spending by equal savings elsewhere. By all accounts, added entitlement spending will be offset with spending cursor tax increases. Talk about bait and switch!

ABC points out, “discretionary spending – roughly 40% of the federal budget – is not covered by PAYGO.” The PAYGO rules will apply to new tax cuts and mandatory spending, with four major exemptions – any renewal of the 2001 and 2003 tax cuts, the continued efforts to “patch” the Alternative Minimum Tax, any effort to address physician’s payments in Medicare, and modifying the estate tax.” http://blogs.abcnews.com/politicalpunch/2009/06/president-obama-paygo-and-the-deficit-hole.html 

“”This is like quitting drinking, but making an exception for beer and hard liquor,” said Maya MacGuineas, President of the Committee for a Responsible Federal Budget (CRFB). “Exempting these measures from PAYGO would increase the ten-year deficit by over $2.5 trillion dollars. That’s not fiscal responsibility.” I’ll have a nice chardonnay please, and it better not be the frig from France.

60% of the budget is not subject to PAYGO.  Why is no one having a hissy fit over that?  While President Obama may enjoy a 60% approval rating, PAYGO and his expensive socialistic plans still don’t achieve his goals.  Bush might have spent a pretty dime, but at least is was shining in democracy. 

 debt by country
 

 

 

 

 

 

 

props to http://chalktalk-talk.blogspot.com/2009/06/worldwide-national-debt.html on the Percent of GDP.  Japan debt is equally dismal especially in light of recent military actions on the part of it’s neighbor North Korea.   Obama who continues his spiel of climate change for jobs might want to take a look at Japans which “is doing the smart thing by not meeting it’s ‘Kyoto Protocol’ targets and is only pledging to cut it’s future CO2 emissions by 8%. Via http://motorcitytimes.com/mct/japan-will-protect-its-economy-first/  Right now they need jobs and so do we.

I think I”ll have a Saki instead of that chardonnay after all.

My share of I.O.U.S.A. debt leaves little room for more than a sip out of the White House Fountain.

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President Obama was in Williamsburg, Va., addressing  the House Democrats saying the stimulus bill could end the “tyranny of oil, “and blames the entire economic meltdown of the GOP and GWB. 

“Bolivian president Jorge Quiroga recently remarked that two key commodities, oil and cocaine, enter the United States duty free while the U.S. Congress debates duty-free entry of legal products from the United States…” http://www.latinbusinesschronicle.com/app/article.aspx?id=3129 

Congress is debating a lot of things, but it would seem that this stimulus bill isn’t going to stimulate anything but more angst for everyone. Why would Obama allow House Democrats to draft his stimulus legislation in the first place? What could he have been been thinking.  http://www.forbes.com/2009/02/05/obama-stimulus-republicans-opinions-columnists_0206_peter_robinson.html?partner=popstories

Apparently, it all comes back to the black gold and blame for Mr. O, failing to realize that there have been plenty of bipartisan issues that created this fiasco.  Yes, three–quarters of oil is owned and controlled by the world’s governments.  Chevron, Exxon Mobil, BP , Shell, Valero, Conoco-Phillips and Marathon are part of the world’s largest and most powerful financial empires in and of themselves, recently announcing record profits.  Problematic, is the restrictions from drilling and exploration on U.S. Soil and Territories while Obama wants to go green.  Sarah Palin governs a treasure trove of oil and reserves that could certainly help our economy. 

Green is already breaking the state of California with businesses moving out of state and taking jobs with it before they have to pay cap and trade carbon penalties.   http://online.wsj.com/article/SB123336500319935517.html?mod=googlenews_wsj  “Green policies have a tendency to push states into the red.”  Green is not going to push up any daisies for America in the short term, either.

Antonia Juhasz, in her book, “The tyranny of oil- The world’s most powerful industry and what we must do to stop it,” http://www.npr.org/templates/story/story.php?storyId=95465269 says the business and politics of oil’s production pose such grave implications on so many fronts — the environment, human rights, the economy, worker safety, public health — that the current state of petroleum-industry affairs is fundamentally antithetical to democracy.  Antithetical to democracy?  Tell that to the Iraq’s who recently voted in a democratic election. 

Juhasz is also analyst with Oil Change International, a watchdog group, and is the author of “The Bush Agenda: Invading the World, One Economy at a Time.”  Want to bet she voted for Obama?   Obama is not blameless in taking in Oil Industry campaign donations, granted not as much as the Republicans. 

General James Jones, US National Security Adviser was nominated to the board of directors for Chevron.  http://www.scandoil.com/moxie-bm2/news/gen-james-l-jones-nominated-to-chevron-board-of-di.shtml  Jones said, “Americans are right to demand swift and sensible action to produce more energy right here at home…”   http://www.energyxxi.org/articles/Statement_from_General_James_L_Jones_USMC_Ret_on_expanding_US_oil_and_gas_access.aspx  Maybe there is hope yet.

In the first round of billions spent, a report due on Friday calculates Treasury put about $254 billion into financial institutions in 2008, but got only $176 billion in value.  “That’s a shortfall of about $78 billion,”  adding that Mr. Paulson “was not entirely candid” in his description of TARP’s bank capital injection program. http://www.nytimes.com/2009/02/06/business/economy/06tarp.html?em   Pauslon bought preferred stock in companies like General Motors and Citigroup.  I’ve heard of “Buy American”, but holy shit, Paulson wasn’t supposed to take it literally.

What the frig is O doing in Williamsburg anyways- the campaign is over.  We know, you won.  Sad thing is, we’ve already lost $78 billion.  A stimulus is supposed to be immediate short-term spending in an economic downturn, not a forever solution to every problem.  It is still winter on the calendar and just a few weeks into the Obama administration and capi­talism and globalization are freezing in the US. 

Someone get Obama a blanket cause the heat is on Mr. President.

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