The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.
The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.
You should notice that the Blue seasonally-adjusted SGS Alternate Unemployment Rate curve or trend diverts (Goes in the opposite direction) from previous administration’s unemployment data.
This suggests that the Barack Hussein Administration is somehow “cooking the books”.
Barack Hussein Obama and our nitwit Vice-President Joe Biden , if re-elected , promise to let the Bush tax cuts expire which will result in increased taxes at every income level.
What happens to you if the cuts expire? The Tax Foundation has done the math and provides a handy map to show the likely economic impact on people in every state. (For the record, the Tax Foundation describes themselves as, “a nonpartisan tax research group based in Washington, D.C.”)
The Five States Facing The Biggest Tax Increases (avg. per household):
New York $5,542
New Jersey $5030
Meanwhile, according to a report from the State House News Service our own House Speaker Robert DeLeo, in collaboration with Deval Patrick is hinting at raising taxes in 2013 in the middle of a recession, in order to support Taxachusetts’s burgeoning spending pogram. Taking their cue from Barack Hussein Obama, they will likely spring details of their proposals afterthe election when they and their minions are safely back in office.
On top of the Federal Tax Increases for 2013 and according to the Wall Street Journal a Loss of $4,019 in real Incomeduring the Obama years we are now looking at additional MA State Tax increases as well. Could there be a stronger reason to help Fiscally Responsible, Small Government Championing, Free Market Conservative candidates this fall?
“Flat tax collections in September have left state government trailing budgeted revenue benchmarks by $95 million one quarter of the way into the new fiscal year, according to figures released Wednesday by the Department of Revenue. Collections last month of more than $2.2 billion were up $8 million over September 2011, but were still $32 million shy of the monthly benchmark. Tax collections are up 0.03 percent over the first quarter of fiscal 2013.
Murray and DeLeo over the past few years have embraced the no-new-taxes approach after voting in 2009 to boost the sales tax by 25 percent to 6.25 percent. Though some more liberal Democrats on Beacon Hill have advocated for higher cigarette taxes to pay for health programs, members of the House and Senate from both parties have largely cheered the reluctance of leaders to force votes on new revenue, particularly in an election year.”
House Minority Leader Brad Jones of North Reading on Thursday said DeLeo’s reluctance to rule out tax hikes next year was “disappointing.”
“I will say that I am well aware that numerous discussions have been going on about increased taxes and that obviously members of the majority party don’t want to have those go public until after the election.
The 4 October 2012 press release from State House News follows:
ON RESISTANCE TO NEW TAXES, DeLEO TAKING WAIT-AND-SEE APPROACH FOR 2013
By Matt Murphy and Mike Deehan
STATE HOUSE NEWS SERVICE
STATE HOUSE, BOSTON, OCT. 4, 2012….After holding the line on new taxes since 2009, the pledge by legislative leaders to not upset the delicate economic recovery by increasing broad-based taxes or fees on residents and business is showing signs of cracking.
House Speaker Robert DeLeo told the News Service this week he doesn’t yet know if his proscription against new taxes or fees will apply to the 2013 legislative year when the Legislature is expected to address long-term financing of the state’s transportation system and may need to look to new sources of revenue.
DeLeo said he wants “to see where the numbers fall on next year’s budget” and with transportation financing before making a decision on whether to rule tax hikes in or out, a line the Winthrop Democrat has drawn the past several years, and which Democrats have followed, prior to the release of the House budget in April.
“That’s never been a desire of mine to increase taxes. But on the other hand . . . I’m smart enough to know that until you see the figures of what you’re working with, you don’t make any pledges.” DeLeo, the former House budget chief, said after a meeting Tuesday afternoon with UMass officials and local entrepreneurs.
Senate President Therese Murray last year deferred to the House, noting tax bills originate in there, while working to craft the Senate’s spending blueprint for the year that began July 1, though she showed no signs of appetite herself for higher taxes. Through a spokesman, Murray declined comment on the appetite for taxes next session.
Flat tax collections in September have left state government trailing budgeted revenue benchmarks by $95 million one quarter of the way into the new fiscal year, according to figures released Wednesday by the Department of Revenue. Collections last month of more than $2.2 billion were up $8 million over September 2011, but were still $32 million shy of the monthly benchmark. Tax collections are up 0.03 percent over the first quarter of fiscal 2013.
Murray and DeLeo over the past few years have embraced the no-new-taxes approach after voting in 2009 to boost the sales tax by 25 percent to 6.25 percent. Though some more liberal Democrats on Beacon Hill have advocated for higher cigarette taxes to pay for health programs, members of the House and Senate from both parties have largely cheered the reluctance of leaders to force votes on new revenue, particularly in an election year.
House Minority Leader Brad Jones of North Reading on Thursday said DeLeo’s reluctance to rule out tax hikes next year was “disappointing.”
“I will say that I am well aware that numerous discussions have been going on about increased taxes and that obviously members of the majority party don’t want to have those go public until after the election but they are absolutely underway and going on,” Jones said.
DeLeo has used his position over the past few years to thwart proposals by Gov. Deval Patrick to tax candy and soda, raise taxes on cigarettes and expand the scope of the state’s five-cent bottle redemption law, an idea encouraged by some environmentalists to improve recycling rates and generate $20 million in new revenue.
Any new debate over taxes in Massachusetts will also likely play out over a backdrop of the national discussion about how to address the federal debt and deficit, including the looming expiration of tax cuts on Jan.1 that could increase payroll taxes on Massachusetts residents and millions of Americans.
With unemployment at 6.3 percent after having risen moderately over the past two months, legislative leaders like DeLeo, if he wins reelection as anticipated, will be challenged to come up with a justification for new revenue after years of touting their reluctance to raise taxes as a selling point of their fiscal discipline and rationale for new businesses to locate and grow in Massachusetts.
In May, DeLeo published an open letter in the local Menlo Park, California newspaper to Facebook CEO Mark Zuckerberg suggesting the company, and others like it in Silicon Valley, consider expanding in Massachusetts.
“Unlike California, where Governor Brown just announced a $16 Billion budget deficit sure to mean massive cuts in services and increases in government revenues, Massachusetts leaders have passed budget-after-budget on-time and with no new taxes or fees,” DeLeo wrote. “There is no denying California’s strengths, but a lot has changed in Massachusetts in the eight years since Facebook moved out. It’s a place where young workers, start-up companies and innovation entities want to be.”
Jones said that in addition to consideration of raising gas taxes, he has heard mention of raising the state income tax from 5.25 percent to 5.95 percent.
“Unfortunately the Democrats don’t want to have that discussion before the election because they know the public isn’t going to be welcome to it, isn’t going to be open to it. People are still hurting. They’re very apprehensive. We have a fragile economy,” Jones said.
Jones said there is a “reasonable consensus” that some people would like to put more resources into transportation and infrastructure, but said the idea of “going down the tax path is a dangerous one.”
“I think we’re going to be faced with the false choice of, well, we have to raise taxes to do this as opposed to, well, isn’t some of it maybe reprioritizing spending?” Jones said.
Citizens for Limited Taxation earlier this week rolled out endorsements of 40 legislative candidates, including 17 incumbents – all Republicans – who scored well on the group’s issues test and signed a “Taxpayer Protection Pledge” to “oppose and vote against any and all effort to increase taxes.”
Through its political action committee, CLT also gave maximum donations of $500 to many of its endorsees, including candidates challenging Sen. Murray and Reps. Thomas Calter (D-Kingston), Thomas Sannicandro (D-Ashland), Carolyn Dykema (D-Holliston), John Rogers (D-Norwood) and James O’Day (D-West Boylston.
Defense contractors back off layoff notice threats ahead of sequestration
Several defense contractors on Monday backed off threats to issue layoff notices to employees in coming weeks, a move they had said might be required given the threat of mandatory federal budget cuts in January.
Bethesda-based contracting giant Lockheed Martin and the U.S. arm of Britain’s BAE Systems, which is based in Arlington County, said they would not issue the notices this year. Under the federal Worker Adjustment and Retraining Notification Act, or Warn Act, states require advance notice of mass layoffs or facility closures.
The White House issued a memo late last week that directs contractors to follow the guidance of the Labor Department. In a July letter, the department said the Warn Act does not require contractors facing sequestration to send notices to their workers that they could be let go.
In its new guidance, the White House said that if sequestration occurs and an agency terminates or changes a contract that results in a plant closing or mass layoff, the contractors’ liability and litigation costs under the Warn Act would be “allowable costs” covered by the contracting agency.
“The additional guidance offered important new information about the potential timing of DOD actions under sequestration, indicating that DOD anticipates no contract actions on or about 2 January, 2013, and that any action to adjust funding levels on contracts as a result of sequestration would likely not occur for several months after 2 Jan,” Lockheed said in a statement.
Brian Roehrkasse, a spokesman for BAE Systems’ U.S. business, said BAE also will not issue Warn notifications to its employees.
“However, if specific information becomes available that certain company facilities may suffer mass layoffs due to sequestration, we will issue Warn notices at that time as required by law,” he said in an e-mail. “Unless sequestration is avoided, we eventually may have no choice but to issue Warn notices to potentially impacted employees.”
“A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship, then a monarchy.” Elmer T. Peterson
Food Stamps is just one of Barack Hussein Obama giveaways from our “public treasury’ that will eventually cause our Republic to collapse under the weight of his Socialist Programs.
It’s not just the increase in recipients: Obama allows each recipient to receive much more. Can’t blame that on Bush.
One of the least-appreciated reasons for conservatives to dislike former President George W. Bush is that even while the unemployment rate was declining, the U.S. saw a massive increase in participation in the food-stamp programs (Women, Infants and Children, or WIC; and Supplemental Nutrition Assistance Program, or SNAP). It’s quite accurate to refer, as the Washington Examiner recently did, to the “Great Bush-Obama food-stamp expansion.” But a recent article on the subject of food-stamp costs in National Review didn’t even mention Bush’s name. Firebrand Newt Gingrich, who has tirelessly focused attention on this topic, has been similarly negligent in omitting Bush from the picture.
Yet Obama has done much more than simply oversee an increase in participation.
Obama brings up Bush’s expansion when challenged about his food-stamp record — he has aggressively sought to blame his performance on his Republican predecessor. Here’s what he told ABC News when confronted on this issue:
First of all, I don’t put people on food stamps. People become eligible for food stamps. Second of all, the initial expansion of food-stamp eligibility happened under my Republican predecessor, not under me. No. 3, when you have a disastrous economic crash that results in eight million people losing their jobs, more people are going to need more support from government.
It’s stunning that the Romney campaign is allowing Obama to get away with not mentioning the costs that have no precedent whatsoever in Bush administration records or policy.
Under Obama, 14.7 million more Americans began using the food-stamp program than had been using it under Bush. That’s a whopping increase of 46%, from 31.9 million users in 2009 to 46.6 million today. One in every seven Americans. The WIC program now purchases over half of all infant formula sold in the United States.
But most importantly, the cost of the program to taxpayers has increased by far more than the expected, proportionate 46%.
Under eight years of George Bush, annual spending on food stamps rose from $15 billion to $35 billion — an increase of about $2.5 billion per year. But in just the first two yearsof the Obama administration alone, spending rose from $35 billion to $75 billion — a staggering increase of $20 billion per year, nearly ten times the rate of increase in cost under Bush.
The cost of food stamps under Obama rose from an average of $3.6 billion per month when he came to office to $6.2 billion per month now, a disproportional increase of 72% compared to the 46% increase in program usage. And even that figure is misleading because it is based on averages: the total cost of the program over Obama’s four years in office, as noted above, actually rose by well over 100%, now running in excess of $75 billion per year. If you compare 2007 and 2011, the total cost increase is an astounding 135%.
There are two possible explanations for the wildly disproportionate rise in food stamp costs under Obama: either he’s being much more generous with recipients than Bush ever dreamed of being, or food prices are rising because of his inflationary policies. Earlier this year, the Congressional Budget Office weighed in. They concluded that a combination of both factors was in play — but that Obama’s generosity (with taxpayer money) is the much bigger culprit.
The Obama Administration is simultaneously creating a Middle East Muslim Caliphate, distancing our support of Israel while weakening our Military, our Economy and attacking our freedoms guaranteed by our Constitution.
If we don’t Oust Obama in November, WWIII will erupt in the Middle East, we will be defenceless (Obama signed treaty that reduces our nuclear arsenal from 5000 to 1500 missiles and has asked the military to consider going down to 292) and after we plunge over the fiscal cliff, China will own our debt and our destiny!
Glenn Beck is one of our “Watchman on he Wall”. He warned us that The Obama Middle East Policy was leading to a Caliphate whose sole aim would be to march on Israel and to make Jerusalem their Capital. Last May, during a rally for Muslim Brotherhood presidential candidate Mohammad Mursi, Egyptian Cleric Safwat Higazi spoke before an adoring crowd of thousands, proclaiming, “We can see how the dream of the Islamic caliphate is being realized, God willing, by Dr. Mohamed Mursi.” Cleric Safwat Higazi further stated that, “The capital of the United States of the Arabs will be Jerusalem.”
It should now be clear to any neutral observer that the Obama Administration has via its “Arab Spring” and “American Weakness” foreign policy initiatives, have deliberately created a Muslim Caliphate.
On February 11th 2011, Glenn Beck talking about the Tunisian Revolution stated:
“This is not just happenstance. This is not just poor people mad at rich people.
This is coordinated. Tunisia was the beginning. I think there is a chance Tunisia
was our Archduke Ferdinand moment that I’ve been telling you about, warning
that it would start in some place that wouldn’t look like anything – and most of
us wouldn’t understand it. He was the guy assassinated in Sarajevo. Month later
Austria and Hungary declared war against Serbia and the rest is called World War One”
And now we see beginning of the Obama Administration’s and the Caliphate’s plan to obliterate Israel. Our Egyptian Embassy , upon orders from the president “apologizes in advance” for a motion picture uncomplimentary to Allah. An apology that comes before the attacks on our Egyptian and Libyan Embassies. After mobs assemble outside our Libyan embassy, our Ambassador is taken to a safe house under the protection of Libya. Our good friends in the Libyan Government then aid the Muslim Brotherhood by providing the location of our Ambassador’s “Safe House”, thereby enabling his murder along with other embassy personnel l. Obama waits before announcing the deaths of our Embassy personnel even while it is making headlines in Europe. When he finally speaks, he soft peddles the entire atrocity and can’t wait to get on Air Force One, so he is not too late for his Fundraiser.
Here are Michelle Malkin’s Take on the Middle east Chaos:
When our Senator’s and Representatives attempt to slip a bill like the Farm Bill HR.6083 through Congress, they must really believe that, we the members of the electorate and their constituents are either brainless, dim-witted or morons. Even the financial scoring of this bill like most others, is filled with deception and dishonesty. Its no wonder that only 10% of our electorate believes that Congress is doing a satisfactory job in representing our interests.
Take this time during the recess to bone up on upcoming legislation like the the Farm Bill and the UN treaties and start a calling barrage into their offices. This period before November 6th is almost as dangerous as the “Lame Duck” session after the election, because the political phone calls, TV adds and multiple mailings will turn many people off, causing them to drop their guard and to stop paying attention to the happenings in Congress.This inattention to their actions is what Congress looks for so that they can slink additional debt killing legislation through!The only way we are going to turn things around is to educate ourselves on how they perpetrate their shenanigans and to CALL THEM OUT .
For the Farm Bill, you Must call your Senators and Congressman and tell them that our national debt is headed for a Fiscal Cliff and we aren’t interested in any more PORK being signed into law!!! They intend to take up this bill after the get back from their recess.
As Congress continues its recess and activists across the country attempt to educate their elected officials on the problems with the current farm and food stamp bill, we wanted to provide the main questions that our folks are receiving on the road and their best factual response, all in one post. Here you go, and we hope you find its useful.
How much does the so-called “farm bill”—the Federal Agriculture and Risk Management Act (H.R. 6083)—cost? According to the Congressional Budget Office (CBO), the bill costs $957 billion over ten years. The last farm bill, enacted in 2008, cost $604 billion over ten years. This bill amounts to a 60% increase in farm and food aid since the last reauthorization. Doesn’t H.R. 6083 “save” money? Not in any real world sense. As stated, the bill includes policies that over ten years will cost 63% more than the previous authorization. It is only because the Congressional Budget Office must ignore the expiration date of these programs and assume their continuation into eternity—including the Obama food stamp expansions—that the bill can be judged to “save” $35 billion. This is really just Washington-speak for spending 3.5% less than expected ($957 billion instead of $992 billion)—it’s not a cut. Isn’t H.R. 6083 really mislabeled as a farm bill given how much food stamp spending it includes? Yes. 80% of H.R. 6083’s spending is comprised of food stamp spending. This is because there are now 46 million individuals on food stamps, compared with 30 million in 2008 and 17 million in 2000. The reduction in the rate of growth to the food stamp program contemplated by the bill equals just $16 billion or 2%—not the sort of reforms that will lead to rolling back the food stamp program. This is one reason why most conservatives are so intent on splitting up the bill between its food stamp and farm subsidy components. Doesn’t H.R. 6083 include some much needed reforms to farm subsidies? The bill does eliminate wasteful direct payments to farmers, but it then plows much of the “savings” back into three new “shallow loss” entitlement programs that will actually serve to guarantee the profits for a larger number of farmers than currently benefit from direct payments. In addition, the bill sets new price floors for commodities (in most cases, higher than average recent prices) and expands crop insurance subsidies. Isn’t passing H.R. 6083 crucial towards passing drought assistance for those regions of the country that have been hard hit? No. The House of Representatives has already passed a separate piece of legislation—the Agriculture Disaster Assistance Act, H.R. 6233—to provide $383 million in emergency assistance to farmers, ranchers, and orchardists. The Senate refuses to act on the measure in order to put artificial political pressure to pass a massive farm bill. We opposed this drought assistance (see below), but regardless of a Congressman’s support for such assistance, it should have no bearing on whether they support a separate, long-term farm bill. Note: Some congressional offices, in an effort to confuse the issues, have noted that there is no food stamp spending in this separate drought package. That is true, but it confirms that the future of the drought package is not tied to passage of a multi-year farm bill. Should the federal government be providing $323 million in drought assistance? No. Proponents of the bill cite the drought’s impact on livestock—and the absence of livestock-specific disaster programs—as the principle reason for the aid package. However, the livestock-specific disaster programs expired in 2011, meaning ranchers knew that they had to plan for possible disasters, including drought. The Washington Post explained that “farmers should have to hedge as other businesses do: by diversifying their product lines, purchasing insurance at market rates, leveraging assets or maintaining cash reserves.” Because livestock producers did not take preventative action, they are now clamoring for a bailout. The bill also goes well beyond drought-inflicted livestock losses, by offering “subsidies to ranchers for livestock killed by raptors and wolves (along with hurricanes, floods, blizzards, disease, and extreme cold).” It also includes wildfires. The “drought” bill also covers trees, defined as “a tree, bush, and vine”, impacted by late-season freezes and insect infestations. Doesn’t the agricultural community need a farm bill during this recession? No. U.S. agriculture is thriving. Net farm income hit a record $98 billion last year and is expected to reach $122.2 billion in 2012. The top five earnings years in the last three decades have all occurred since 2004. With a healthy agriculture sector and a spiraling federal debt, now is the time to reform and eliminate commodity subsidies that cost taxpayers and distort the market.
Our Massachusetts political machine has done such a phenomenal job with Pension Reform, that Marian McGovern, who is retiring at 58 years of age will retire with a mere $163,000/year pension. Thanks go to Governor Deval Patrick for signing our comprehensive pension reform legislation on November 18, 2011.
The Top 50 Cities and Towns in MA ( There are 296 towns and 13 Cities)have amassed$20B in Post Employment Benefits (OPEB) Liabilities.
In 2011 41% of all of our state’s total Combined Debt and Pension Liability was due to Unfunded Pensions!
Folks, we simply must thank and reward the Governor and his and Democrat Machine this November for the wonderful job they did with Pension Reform!!!
Former state police commander to collect tax-free disability pension
Marian McGovern has a heart condition that was diagnosed in 2009.
Marian J. McGovern, the recently retired commander of the State Police, has been approved for a tax-free disability pension because she suffers from a heart condition, a state police spokesman said, a designation that will boost her retirement pay by tens of thousands of dollars.McGovern, 58, of Marshfield, made no mention of her medical condition when announcing her retirement in June. On Wednesday, a State Police spokesman revealed that McGovern was diagnosed with a heart condition in 2009, before her appointment later that year as commander of the 2,200 officers and 400 civilian employees of the State Police.McGovern is the second State Police superintendent in eight years to receive a disability pension because of a heart condition.McGovern’s disability is based on a “diagnosis of a serious condition and its continued prognosis into the future,” spokesman David Procopio said. “The pension designation is completely merited by Colonel McGovern’s medical situation.”
McGovern, who retired after 33 years, earned $209,000 as superintendent, and her annual pension will be about $163,000 a year.
Normally, public pensions in Massachusetts are exempt from state income tax, but ordinarily subject to federal income tax. However, when the retiree also has a disability, the pension is also exempt from federal income taxes.
Based on calculations reviewed by several public pension specialists, McGovern may save about $25,000 a year in lower federal tax bills by receiving a disability pension, compared with a pension without disability, depending on her tax bracket.
McGovern’s disability pension was approved by a special three-member board, which reviews only State Police disability applications. All other disability applications across the state are handled by a panel of three independent doctors, but state law requires that State Police disabilities be reviewed by the state commissioner of public health, state surgeon, and State Police superintendent, or their designees.
In McGovern’s case, the State Police superintendent’s designee abstained from voting, Procopio said. The pension was approved by a 2 to 0 vote.
Procopio said McGovern’s condition will “require lifelong medication and management.”
He said he did not know whether diagnosis of McGovern’s heart condition limited or impacted in any way the performance of her duties after 2009. Asked whether State Police in general may continue to work with such a medical condition, he said decisions would be made on a case-by-case basis.
McGovern, a Worcester native, was appointed by Governor Deval Patrick. She was the first woman to achieve that rank. The new commander is Timothy P. Alben, a 30-year veteran.
McGovern’s disability retirement is not without precedent. In 2004, Thomas J. Foley retired at age 50 as State Police superintendent with a disability pension because of a heart condition.
Since then, Foley has run successfully for Governor’s Councilor and unsuccessfully for Worcester County sheriff. He also recently wrote a book about his 20 years of pursuit as a State Police investigator of James “Whitey” Bulger.
Foley said in an interview he would gladly trade his heart condition for a regular, less lucrative pension.
“I got a heart condition, and I got it working the job,” he said. “It limits me. But I live with it, and I am not apologizing for any of my activities.”
“I put myself into some dangerous positions in my career,” said Foley, now 58.
The State Retirement Board is expected to formally accept the pension for McGovern at its Thursday meeting.
If you think that this cannot or will not happen in our state….you are sadly mistaken. Read the last section!
The following charts and discussions present an easy to understand view of Barack Hussein Obama’s DAMAGING accomplishments. I would suggest that you pass this information along to those citizens who do not follow political or economic news, but nevertheless vote .
If Obama was the CEO of a Corporation, the following operational , statistics would be just cause to have him booted out of office by his stockholders and Board of Directors.
Charts on the Obama Years
NOW for the final exam:
1. Why is California so broke?
Just One State , this is only one State…………… If this doesn’t open your eyes nothing will !
From the L. A. Times
1. 40% of all workers in L. A. County ( L. A. County has 10.2 million people) are working for cash and are not paying taxes. This is because they are predominantly illegal aliens working without a green card.
2. 95% of warrants for murder in Los Angeles are for illegal aliens.
3. 75% of people on the most-wantedlist in Los Angelesare illegal aliens.
4. Over 2/3 of all births in Los Angeles County are to illegal alien Mexicans on Medi-Cal, whose births were paid for by taxpayers.
5. Nearly 35% of all inmates in California detention centers are Mexican nationalshere illegally.
6. Over 300,000 illegal aliens in Los Angeles Countyare living in garages.
7. The FBI reports half of all gang members in Los Angelesare mostlikely illegal aliens from south of the border.
8. Nearly 60% of all occupants of HUD propertiesare illegal.
9. 21 radio stations in L. A. AreSpanish speaking.
10. In L. A. County 5.1 million people speak English, 4.9 million speak Spanish. (There are 10.2 million people in L. A. County .)
(All 10 of the above statements are from the Los Angeles Times)
Less than 2% of illegal aliens are picking our crops, but 29% are on welfare.
Over 70% of the United States ‘ annual population growth (and over 90% of California’s , Florida’s , and New York’s ) results from immigration.
29% of inmates in federal prisons are illegal aliens.
HOW CAN YOU HELP?
Send copies of this letter to at least two other people. 100 would be even better.
This is only one State. The Nancy Pelosi crowd wants illegals to be given the right to vote so that their dependency on “Free” food stamps, Welfare, Medicaid etc., drives the United States towards becomes a single political party nation!
Republicans accuse HHS of gutting welfare reform with quiet policy change
Published July 13, 2012
Republicans are accusing the Obama administration of unilaterally gutting welfare reform after the Department of Health and Human Services quietly notified states that they may seek a waiver for the program’s strict work requirements.
HHS made the announcement in a policy memo Thursday, news that slipped well below the radar amid a raucous day on the presidential campaign trail. But a few prominent GOP lawmakers on Capitol Hill picked up on the change, and accused the administration of overhauling one of the most important bipartisan agreements of the past several decades.
“President Obama just tore up a basic foundation of the welfare contract” Republican Study Committee Chairman Jim Jordan, D-Ohio, said in a statement. He also called the move a “blatant violation of the law.”
Mitt Romney on Friday spoke up on the change, saying: “President Obama now wants to strip the established work requirements from welfare.” He said “the linkage of work and welfare is essential to prevent welfare from becoming a way of life.”
How exactly the HHS change will play out is unclear. In Thursday’s policy directive, the department said the states may seek a waiver from the work component of the Temporary Assistance for Needy Families Program, in order to “test alternative and innovative strategies, policies and procedures that are designed to improve employment outcomes for needy families.”
HHS stressed that any alternative should still aim to get welfare recipients into gainful employment. Any plan that “appears substantially likely to reduce access to assistance or employment for needy families,” will not be approved, the memo said.
But HHS is suddenly allowing for more flexibility in a program known — and in many circles, lauded — for its rigid framework. Currently, states have to have 50 percent of their caseload meet certain work participation requirements, though there are ways around that as many states fall short.
The latest department directive suggested alternative plans could “combine learning and work” to fulfill the work requirement, or let “vocational educational training or job search /readiness programs” count as well.
The hard-fought welfare reform agreement in 1996 was struck between the Bill Clinton administration and a Republican-led Congress. It is still considered a signature legislative achievement from that period.
The number of people on TANF has decreased dramatically since 1997, but roughly 4 million people are still enrolled according to federal figures. The change comes in the middle of a competitive election fight between Obama and Romney.
Rep. Dave Camp, chairman of the House Ways and Means Committee, and Sen. Orrin Hatch, R-Utah, ranking Republican on the Senate Finance Committee, have written to HHS Secretary Kathleen Sebelius asking for a more detailed explanation of the change and her authority for making it. Both expressed concern that the change would strip the crux of the 1996 welfare reform deal.
“This ends welfare reform as we know it,” Camp said in a statement.
“I’m disappointed that after years of sitting on their hands and failing to propose any significant improvements to the TANF programs, the Obama Administration is once again over-stepping their authority and attempting to circumvent Congress through an unprecedented bypass of the legislative process,” Hatch said.
The Supreme Court’s June 28th ruling leaves in place 21 TAX INCREASES in the health care law that the Congressional Budget Office (CBO)recently said would more than double from Obama’s original estimate of $675 – 900 billion to $1.76Trillion over the next 10 years. This latest CBO estimate will likely rise even higher due to the decision that prohibits the Federal Government from imposing fines on states that do not expand their Medicaid programs.
Of special note is the fact that twelve of the Obamacare tax hikes break Obama’s pledge that they will not will affect families earning less than $250,000 per year. These taxes include a “Cadillac tax” on high-cost insurance plans, a tax on insurance providers and an excise tax on medical-device manufacturers. By 2016, 75% of the Obama Taxes will be paid by families making $125,000 or less.
The list of the 21 tax increases are as follows:
A 156% increase in the federal excise tax on tobacco
Obamacare Individual Mandate Excise Tax
Obamacare Employer Mandate Tax
Obamacare Surtax on Investment Income
Obamacare Excise Tax on Comprehensive Health Insurance Plans
Since taking office, President Barack Obama has signed into law twenty-one new or higher taxes:
1. A 156 percent increase in the federal excise tax on tobacco: On February 4, 2009, just sixteen days into his Administration, Obama signed into law a 156 percent increase in the federal excise tax on tobacco, a hike of 61 cents per pack. The median income of smokers is just over $36,000 per year.
2. Obamacare Individual Mandate Excise Tax (takes effect in Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following
Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS).Bill: PPACA; Page: 317-337
3. Obamacare Employer Mandate Tax (takes effect Jan. 2014): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). Bill: PPACA; Page: 345-346
Combined score of individual and employer mandate tax penalty: $65 billion/10 years
4. Obamacare Surtax on Investment Income (Tax hike of $123 billion/takes effect Jan. 2013): Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income: Bill: Reconciliation Act; Page: 87-93
2013+ (current law)
2013+ (Obama budget)
*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens.
5. Obamacare Excise Tax on Comprehensive Health Insurance Plans (Tax hike of $32 bil/takes effect Jan. 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions. CPI +1 percentage point indexed. Bill: PPACA; Page: 1,941-1,956
6. Obamacare Hike in Medicare Payroll Tax (Tax hike of $86.8 bil/takes effect Jan. 2013): Current law and changes:
7. Obamacare Medicine Cabinet Tax (Tax hike of $5 bil/took effect Jan. 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959
8. Obamacare HSA Withdrawal Tax Hike (Tax hike of $1.4 bil/took effect Jan. 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959
9. Obamacare Flexible Spending Account Cap – aka “Special Needs Kids Tax” (Tax hike of $13 bil/takes effect Jan. 2013): Imposes cap on FSAs of $2500 (now unlimited). Indexed to inflation after 2013. There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. Bill: PPACA; Page: 2,388-2,389
10. Obamacare Tax on Medical Device Manufacturers (Tax hike of $20 bil/takes effect Jan. 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exempts items retailing for <$100. Bill: PPACA; Page: 1,980-1,986
11. Obamacare “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI (Tax hike of $15.2 bil/takes effect Jan. 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995
12. Obamacare Tax on Indoor Tanning Services (Tax hike of $2.7 billion/took effect July 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399
13. Obamacare elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Tax hike of $4.5 bil/takes effect Jan. 2013) Bill: PPACA; Page: 1,994
14. Obamacare Blue Cross/Blue Shield Tax Hike (Tax hike of $0.4 bil/took effect Jan. 1 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004
15. Obamacare Excise Tax on Charitable Hospitals (Min$/took effect immediately): $50,000 per hospital if they fail to meet new “community health assessment needs,” “financial assistance,” and “billing and collection” rules set by HHS. Bill: PPACA; Page: 1,961-1,971
16. Obamacare Tax on Innovator Drug Companies (Tax hike of $22.2 bil/took effect Jan. 2011): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980
17. Obamacare Tax on Health Insurers (Tax hike of $60.1 bil/takes effect Jan. 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. Phases in gradually until 2018. Fully-imposed on firms with $50 million in profits. Bill: PPACA; Page: 1,986-1,993
18. Obamacare $500,000 Annual Executive Compensation Limit for Health Insurance Executives (Tax hike of $0.6 bil/takes effect Jan 2013). Bill: PPACA; Page: 1,995-2,000
19. Obamacare Employer Reporting of Insurance on W-2 ($min/takes effect Jan. 2012): Preamble to taxing health benefits on individual tax returns. Bill: PPACA; Page: 1,957
20. Obamacare “Black liquor” tax hike (Tax hike of $23.6 billion/took effect immediately). This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105
21. Obamacare Codification of the “economic substance doctrine” (Tax hike of $4.5 billion/took effect immediately). This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113
Ace financial reporter, Charlie Gasparino of Fox News, broke the story yesterday that:
“Last year, as panic raged through the municipal bond market that cities and possibly even states might default on their debt under the burdens of massive government expenditures, particularly in the form of unfunded liabilities posed by public pension funds, J.P. Morgan (JPM: 34.30, +0.53, +1.57%) went out and studied whether the problem was indeed as acute as some had feared.”
The result wasn’t something J.P. Morgan, the largest underwriter of municipal debt, wanted to brag about, at least in public, according to people with direct knowledge of the matter. The study, completed in March 2011, showed that problem with pension funds was indeed real: States and big cities had amassedtrillions of dollars of unfunded liabilities for their public pension systems.
At the same time, these municipalities were failing to properly account for their exploding pension costs, and the only way out of the mess involved public officials making some politically difficult decisions, including raising taxes significantly, slashing budgets, and demanding that public workers pay a portion of their retirement benefits.”
In an interview on Fox Business, Gasparino specifically mentioned Massachusetts. My Town of Andover alone, has amassed nearly $215M in Unfunded Liabilities for our FY2013 budget noted as Post Employment Benefits (OPEB) Liabilities . The Top 50 Cities and Towns in MA ( There are 296 towns and 13 Cities)have amassed$20B in OPEB Liabilities.
In 2011 41% of all of our state’s total Combined Debt and Pension Liability was due to Unfunded Pensions!
Over the last few years, the Federal Reserve has steered our economy to unprecedented low interest rates which has served to mask our Pension liability ticking time bomb. Any uptick in interest rates will unleash the consequences in the JP Morgan report.
“This is the first time CBO has forecast a recession resulting from the fiscal cliff. “
The nonpartisan Congressional Budget Office (CBO) said Tuesday that unless lawmakers act to prevent scheduled tax increases and spending cuts at the end of the year, a recession will likely result in early 2013.
Early next year income taxes are set to go up when the Bush-era tax rates expire. Automatic spending cuts totaling roughly $109 billion triggered by last August’s debt-ceiling deal are set to hit. Meanwhile, payments to physicians under Medicare will be slashed.
CBO projects that these and other elements of the so-called “fiscal cliff” will cause the economy to contract as demand dries up.
Just when the bruises from a tough primary were beginning to heal, and some conservatives were starting to give Mitt Romney a second look in the aftermath of yesterday’s five-state primary sweep, comes word the moderate former Massachusetts Governor has the same policy as President Obama does on federally subsidized student loan interest rates.
House Republicans have said the estimated $6 billion annual cost of extending low-interest rates for student loans isn’t affordable without offsetting cuts, but that they are still deciding whether to support a temporary extension. Obama has started pushing Congress for the extension and planned a three-state tour this week to warn students of the potential financial catastrophe they will face if Congress fails to act.
Apparently Romney’s strategy for the fall campaign will be, “if you can’t out bid Obama, at least join him.”
Romney’s announcement that he supports an extension of the cheap interest rate on federal student loans pulls the rug out from under conservatives in the House who have been trying with little success to reduce spending and balance the budget – even if it takes 30 years via the Ryan Plan.
We have a bit of sympathy for young people who were sold a bill of goods by an education industry that convinced them there is actually a job market for degrees in folklore and performance art and who are now stuck with student loans that run to six figures.
However, Romney’s attempt to out-Obama Obama on student loans is a perfect illustration of how Greece got where it is, and why we are headed in the same direction.
In Greece, until the meltdown, practically everybody got a subsidy or a paycheck for something from the government. The politics were such that the trend was ever upward – once the subsidies started they could never be reduced or even slowed due to political pressure.
We have the same problem here in the U.S. and at some point soon some principled patriots will have to make the case to their fellow Americans that it has to stop. Having offsetting cuts doesn’t end or slow the student loan subsidy, but at least it doesn’t allow it to increase our ruinous deficit and debt.
No doubt Romney and his establishment Republican advisors think of this as “moving to the center” for the fall election. We call it stiffing the conservatives in Congress and pandering on the road to fiscal perdition – as well as a perfect illustration of why conservatives should remain deeply skeptical of the Romney candidacy.
Our “Patriot’s Day Rally” with its Theme of Patriot Courage is meant to be a family affair and we will be providing free professional patriotic face painting for children, as well as balloons and prizes. Rich Howell will conduct a free tour of Lexington and Concord along the Battle Road and will provide a historic narrative. The bus will depart from the Lexington Green (See Map on facebook) around 10:00 AM. A tour registration sign-up counter is available on our Lexington Battle Green Tour site. The site will also keep you informed about updated speakers and events, so please visit it frequently.
Our Keynote Speaker Texas Republican Congressman and former District Judge Louie Gohmert and he will headline a series of diverse guests who promise to electrify you with patriotic discussions and messages on our theme of “Patriot Courage.”
Other local and nationally acclaimed speakers include:
Diana Reimer National Coordinator Tea Party Patriots
Brian CamenkerDirector Mass Resistance
Rabbi Jonathan HausmanAhavath Torah
Carla HowellExecutive Director National Libertarian Party
Don FederColumnist and Consultant
Ed King Founder Citizens for Limited Taxation-(CLT)
Steve AylwardVice-President Mass Republican Assembly
Horace MelloNational Committeeman Mass Republican Assembly
Rev. Garrett LearThe Patriot Pastor
Leo MartinHistorian; Director of Education – Jenney Grist Mill
Rev. Scott LivelyAbiding Truth
Tom WeaverShow ID to Vote
Brigit Fay, a co-founder of the Boston Tea Party and one of our event organizers, stated that our “Patriots Day Rally” with its theme of “Patriot Courage” is meant to foster the positive values of patriotism, integrity, critical thinking and ethical reasoning across all age groups with special attention to children. Consequently, we will be providing a tent that will provide free patriotic face painting balloons and prizes for children attending our event.
The Mass Tea Party coalition is a coalition of locally organized non-profit, non-partisan, chapters dedicated to promoting the principles of fiscal responsibility, constitutionally limited government, traditional values and free markets.
4-Term Texas Republican Congressman and former District Judge Louie Gohmert will articulate his position on our economy at the Mass Tea Party Coalition’s Tax Day
Patriot Day Rally on Boston Common
Sunday April 15th 2012 1Pm to 4Pm
During these trying economic times, Rep. Gohmert has been developing innovative solutions to jumpstart our economy and offering practical alternatives to the government’s bailout frenzy. His “Federal Income Tax Holiday” gained widespread national support from the grassroots level to national leaders, allowing taxpayers to decide how best to spend their hard-earned money. Louie has repeatedly called for an end to the socialization of our economy and decried the notion that Washington Bureaucrats know better than American taxpayers.
Saugus MA- Carlos Hernandez, The Massachusetts Tea Party Patriots State Coordinator announces that the Mass Tea Party Coalition will hold a Patriot Day Rally on Sunday April 15th at the Boston Common Bandstand. Further details will follow as event plans are finalized. The Theme of the Rally is “patriot Courage” The Mass Tea Party is a grassroots coalition of more than 40 locally affiliated chapters Throughout Massachusetts. The groups are non-profit, non-partisan organizations dedicated to promoting & Defending The Constitution of the Constitution of the United state of America.
Adding this $101.8 trillion to the current U.S. debt of $11.9 trillion, and taking 2009 GDP at $14.26 trillion as reported by the Bureau of Economic Analysis, the United States has total liabilities of almost 800% of GDP!
If you owned a business would you continue operating or shut it down if all your employees, who don’t have to worry about day to day operations, were making 60% more in salary than you do?
Welcome to the new America where Government employees enjoy just such a salary advantage. The trend is continuing in spite of our financial crisis and humongous debt burden. If we do not change this trend soon, private class workers will become indentured servants to our government employees.
Remember when the Wall Street Journal’s Stephen Moore wrote that we have “become a nation of takers” as opposed to a “nation of makers”?
What did he mean by that?
“More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined,” Moore wrote back April. “Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees.”
Outspoken investment broker, bestselling author, financial commentator, and 2010 candidate in the CT Republican primary for the United States Senate, Peter Schiff doesn’t hold back in this scathing video incitement against Republicans, Democrats and Tea Party bashers.
“Our leaders lack the will to do what is right” “…and the one thing we prove with this budget farce was that we don’t have any leadership or any political will in Washington to do the “Right Thing”.
“Everybody chickened out. The Republicans, the Democrats…”
“If you think the Tea Party changed the Republican Party, think again. They [Republicans] sold out those Tea Party principles”
“Any Republican who voted to increase the National Debt should be voted out of office.”
We are in the mist of what Senator Rand Paul has called a “Manufactured Crisis”. Both parties and many of our Representatives and Senators are misrepresenting the facts and outright lieing. Senator McConnell says that they [Republicans] won’t allow the US government to Default “for the first time in our history” I guess History isn’t Senator McConnel’s strong suite. According to Thecitizen.com, the US has defaulted 5 previous times. http://www.thecitizen.com/node/7986
In another story in the American Spectator:
http://spectator.org/archives/2011/04/15/thank-you-cbo# dated April15th 2011 Ross Kaminsky wrote, “Yesterday, despite the defection of 59 Republican votes, the House of Representatives passed the budget for the rest of the 2011 fiscal year as negotiated between John Boehner and Harry Reid. The Senate passed the bill 81-19 shortly thereafter. This after a Congressional Budget Office report suggested that only $352 million will be saved this year, versus the claimed $38.5 billion of savings in the budget.That CBO report is a blessing for fiscal conservatives.” That means that actual savings were about 110 times lower than we were told.
So now the Washington establishment that consists of Obama, Boehner, McConnell, and Reid are once again talking about a $3T or $4T CUT which is based upon baseline budgeting that assumes a 7% increase in Revenues over the next 10years, and a commission charged with making the cuts while not being bound to do so by a future congress. Should we believe their hype when they continue to misrepresent, lie and break their promises like allowing us to view legislation for 3 days before it’s enacted? When Shaun Hannity asked Speaker Boehner if we could view the proposed cuts in the legislation, Shaun got a lot of doubletalk and no commitment to view any of the cuts.
Rush Limbaugh says that, “I think we’ve been played for a bunch of saps, I mean not us exclusively, I just mean the whole country.” Meanwhile, Ron and Rand Paul Stated that Boehner bill that was just passed, simply changes the trajectory of our Debt and does not significantly eliminate it. As a matter of fact independent auditors are stating that our debt will Increase by $1T over the next year alone and over 10 years $7 to 8T.
Both Parties must not only take us for a “bunch of saps” but a bunch of fools as well.
Three smaller Debt Rating companies have already reduced the US Debt Rating from AAA to AA. After this Obama Redistribution of Wealth fiasco is over, Standard & Poors and Moodys will Follow suit and Boener will not have only been played for a Sap but a Fool as well. He will also be responsible for the disintegration and ultimate collapse of our economy as well as “The Traditional American Way of Life”. Unfortunately for us citizens, the 2010 election mandate was not sufficient to overcome the traditional Establishment’s hold on the House and they elected a fool to wage war against a Socialist and his Agenda that will put us all into bondage!
It took days. It took brutal fighting. It took arm twisting and probably flat out bribery. The Washington establishment has won. It looks like House Speaker John Boehner will bring his debt-ceiling bill to the floor of the House for a vote. He would not be doing that if he were not certain he had the votes.
What does it mean?
For starters, it means the status quo in Washington won. The debt ceiling will be raised and there will be no meaningful spending cuts. Most of Boehner’s spending cuts are in coming years. We know that is a joke as any congress in future years can simply undo those budget cuts. How many times have we seen this in the past?
It means that the GOP has turned its back on the Tea Party. The GOP leadership used the Tea Party to gain power and has now told us where to go. We do have some friends in the leadership. But very few.
John Boehner is certainly the worst Republican we could have landed in the Speaker’s chair. It is really hard to say that Nancy Pelosi could be much worse.
The worst part about this is the fight was so unnecessary. Boehner had already passed Cut, Cap and Balance. Harry Reid killed the bill as soon as it arrived in the Senate. He has promised a similar fate for the Boehner bill.
If Reid is simply going to kill it, why have we gone through this?
Today, Barack Obama (through his minions) has been on twitter today telling his followers to tell Republican politicians to “compromise.” When the hell is the party of treason going to compromise? We all need to tweet back @barackobama and ask him why he won’t compromise.
In his speech before the House of Representatives, Boehner has said he “stuck his neck out a mile,” to reach an agreement. The truth of the matter is Boehner’s main goal has been compromise, not victory.
This is what happens when we put a RINO in charge who has no clear plan. Compromise is not the goal. Victory is the goal. Compromise is a tool.
Boehner even announced he was putting revenues, the current Washington euphemism for tax hikes on the table. Ron Paul said today that we need someone with conviction, not someone looking for a compromise.
The Tea Party needs to make some decisions for 2012. The obvious move is what we have called for, for a while. We must primary John Boehner. If he survives a primary, we must make certain he is a one-term speaker.
We also need to recruit some good candidates. We need to find people within our Tea Party groups who would make good candidates for office.
For America, this is nothing but a disaster. The debt ceiling will continue to rise. There will be no cutting of spending. Our economy will continue to sink and we will need to prepare for a very difficult future.
President Barack Obama told CBS News today [July 12th] that there may not be enough money in the U.S. Treasury to cover Social Security checks after Aug. 3 if Congress does not agree to lift the legal limit on the federal debt and allow his administration to borrow more money.
“I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it,” Obama told CBS News anchor Scott Pelley in an interview.
According to the Daily Treasury Statements published by the U.S. Treasury Department, the ongoing flow of federal tax revenue since the Treasury declared that it had hit the debt limit on May 16 has been more than sufficient to cover the combined costs of federal spending on interest payments, Medicare, Medicaid, Social Security, the Veterans Affairs department and federal workers wages and insurance benefits (including wages and insurance benefits for military personnel).
Go to the following URL and let friends and family know the truth, that our Debt Limit has to be increased by only $189B for the next year instead of $1.4T and with a little Yankee ingenuity, it wouldn’t have to be raised at all!
Erick ErIckson calls upon Republicans to show some backbone and finally Stand Up and be Counted after failing to fulfill their 2010 election promise to Repeal Obamacare and to move our economy from the precipice.
“In the election of 2010, voters sent you to Washington to do two things: (1) End Obamacare and (2) pull us back from the brink of financial ruin.
You have failed at the first task. Obamacare remains. You never even seriously attempted to restrain its funding or implementation. Heck, you haven’t even saved the incandescent lightbulb.
Will you now fail at the second task too?
If you cave, fold, or compromise on the President’s terms, you will have failed in both your missions. If you support Mitch McConnell’s plan, you will have decisively failed.
Now is a time for choosing. Now is your time for choosing.As I pointed out to John Boehner yesterday, despite what the pundits in Washington are telling you, it is you and not Obama who hold most of the cards. Obama has a legacy to worry about. Should the United States lose its bond rating, it will be called the “Obama Depression”. Congress does not get pinned with this stuff.
But there are a few points that you need to understand.
First, as the hours go on, the doom and gloom scenarios are going to get worse. By the end of July, Goldman Sachs, Ben Bernanke, and Timmy Geithner are going to tell you the world will end unless you raise the debt ceiling.
Senator Jon Kyl says that the GOP has agreed to allow up to up to $200B in New Revenues; That is to say $200B in new Tax increases.
Meanwhile, House of Representatives Majority Leader Eric Cantor floated a possible tax compromise, saying Republicans could agree to closing some tax breaks in a budget deal as long as they were offset with tax cuts elsewhere.
Call your Republican Leadership and tell them we don’t have a Revenue Problem, We have a SPENDING PROBLEM!
Also tell them this is not compromise but capitulation!