Obama 2012-Are You Better Off Than Four Years Ago?

[delldude]

Found the bloke who made the statement and sullied my impeccable reputation among my esteemed internet colleagues.

U.S. Rep. Tim Scott recently said Standard & Poors officials visited Congress and told members the Republicans' Cut Cap and Balance proposal "was the only plan on the table which would keep our AAA rating," but that's not exactly what the agency said.

In its Aug. 5 report downgrading the nation to an AA+ rating, the agency did not mention Cut, Cap and Balance.

"Standard & Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing," its eight-page report said.

However, the report also said the compromise deal that President Barack Obama struck with Congress "falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics."

Scott, one of 110 congressmen to sign onto the Cut Cap and Balance plan, said Monday Standard & Poors didn't endorse the plan per se.

"Basically, they said we needed to cut our spending. Cut Cap and Balance was the only piece of legislation that would make that criteria," he said. "It's absolutely splitting hairs from my perspective. It's not like we put out a false statement. The statement is true."

In his Aug. 12 message, Scott talked about how Charleston County Council's credit rating was raised from AA to AAA during his tenure as chairman.

He said rating agencies wanted to know how much money the county had in reserves, its reserves compared to its overall budget, the county's history of tax increases and its recent spending habits.

"This paints a clear picture as to what matters in their eyes," he said. "There is one path forward to restore our (national) credit rating, and we know what we must do. We must reduce spending, cut through onerous government red tape placed on our small businesses and pass a balanced budget amendment. It's as simple as that."

Its quite possible right wing activists who learned of Goebbels successful use of propaganda tactics from the Wilson era spun this story. But in the end, its true as CC&B was the only dog in the show at the time.

 

[Ms Tree]

That makes much more sense. The statement attributed to him was in compete contradiction to the link I posted to S&P.

 

[delldude]

What about me?

I've been victimized by a Republican.

Man can you believe that?

 

[dapoes]

And today's jobs report courtesy of president downgrade = zero jobs added! Zero growth from zero in chief!

Heckava job Barry!

 

[Kev3188]

Big celebration tonight in Texas Techie?

Texans are 3-0! Yes we are celebrating. How are the Steelers?

Doing pretty good....little injury issues though.

I'll give to a TKO.

We are better off now than 4 years ago.

The road to glory goes through Tampa Bay, fellas. B)

 

[eolesen]

S&P analysts David Beers and John Chambers said that the “extremely difficult” political discussions over how to reduce the more than $1 trillion budget deficit carried more weight in their decision than the nation’s debt.

The “debate this year has highlighted a degree of uncertainty over the political policymaking process which we think is incompatible with the AAA rating,” Beers said on an Aug. 6 conference call with reporters.

Chambers, the chairman of S&P’s sovereign debt committee said in an interview on Bloomberg Television that “this is a problem that has to be addressed by the full spectrum of political parties.”

I'm not certain that the Tea Party's recommendations is what they were looking for as much as there being a attainable solution on how to bring the deficit under control. The Tea Party at least had some radical ideas on spending.

Since there is no agreement on how to control spending, I'd say the rating is appropriate.

The current leaders in Washington couldn't manage a lemonade stand...

 

[delldude]

I'm not certain that the Tea Party's recommendations is what they were looking for as much as there being a attainable solution on how to bring the deficit under control. The Tea Party at least had some radical ideas on spending.

Since there is no agreement on how to control spending, I'd say the rating is appropriate.

The current leaders in Washington couldn't manage a lemonade stand...

Campaign 2012 focus is going to be about damaging the Tea Party....the Tea Party is a cross section of America. This will backfire terribly for Obama.

Polish off your deck of race cards.

 

[dapoes]

The Obama Depression: More than a Million New Food Stamp Users in One Month http://t.co/JAwEC36

 

[SparrowHawk]

The Obama Depression: More than a Million New Food Stamp Users in One Month http://t.co/JAwEC36

Hope & Change is what we voted for and this is what we got. Joke is on us. Let's hope we don't get fooled again! Like these 7 masterpieces of "Hope &Change"

General Motors: Democrats hail GM as a wonderful success story that shows how well the government and private industry can work hand-in-hand to save jobs! The cost of that "wonderful success story?" Roughly 13 billion dollars in taxpayer money and a 45 billion tax break. That's supposed to be a victory? Gee, what was it that King Pyrrhus of Epirus once said after a "victory" like that over the Romans? Oh, yes, "Another such victory and I come back to Epirus alone." But no worries, as long as we can keep borrowing more money from the Chinese while your children pay the bills, Obama's fatcat corporate pals will never have to go it alone.

Solyndra: Those "green jobs" Obama talks about incessantly have really worked out well, haven't they? Just look at Solyndra. It received 535 million dollars of your money via stimulus loans and now? Solyndra just laid off 1100 workers and went into Chapter 11 bankruptcy. Hmmm, maybe there was a REASON that it had to get that huge loan from the government instead of investors beyond, "Capitalists are big meanies!"

Health Care Follies at AT&T, Verizon, Caterpillar, Deere, Valero Energy, AK Steel, 3M and McDonald's: When Obama tried -- and failed -- to sell health care reform to the public, he was promising everything to everybody. Among the many, many false promises that were made was that the bill would reduce health care costs and that people could keep their current health care if they wanted it. Unfortunately, although not surprisingly, Obama was either lying or had no idea what he was talking about because health care costs are going to explode under the law and numerous companies are considering dropping their coverage when the law comes into force.

On Thursday and Friday AT&T, Verizon, Caterpillar, Deere, Valero Energy, AK Steel and 3M announced publicly that a tax provision in the new health care law will make it far more expensive to provide prescription drug coverage to their retired employees.

McDonald's Corp. has warned federal regulators that it could drop its health insurance plan for nearly 30,000 hourly restaurant workers unless regulators waive a new requirement of the U.S. health overhaul.

Thirty percent of employers will definitely or probably stop offering health benefits to their employees once the main provisions of President Obama's federal health care law go into effect in 2014, a new survey finds. The research published in the McKinsey Quarterly found that the number rises to 50 percent among employers who are highly aware of the health care law.

Is Obama a Machiavellian schemer who's trying to create this result or an incompetent blockhead who has no idea what he's doing? Whichever the case may be, the end result is the same: An unkept promise and people who will be forced off healthcare plans that they were already happy with because of the government.

Johnson Controls, Inc.: Under Obama massive amounts of government money have flowed to well connected or politically correct green industries with little emphasis on results. For example, 300 million dollars of your money was given to Johnson Controls, Inc. as part of a stimulus grant so it could make high-tech batteries. So, how many "jobs, jobs, jobs" were created with all of those tax dollars? Only 150 so far, which comes out to a mere 2 million dollars per job created.

Evergreen Solar, Inc.: Not only did Evergreen Solar receive stimulus cash, it received tax dollars from the state of Massachusetts. So how well was your money spent?

Last week, the Massachusetts-based Evergreen Solar filed for bankruptcy, after laying off 800 workers in March. Now, they are slated to dump another 65 workers by closing a plant in Michigan. This, after receiving an undisclosed amount of stimulus cash, in addition to $58 million in state aid.

Gibson Guitars: It was raided -- again -- for the terrible sin of supposedly buying illegally harvested wood from another country. Of course, Gibson has noted that the wood was received from a Forest Stewardship Council certified supplier and one has to wonder if that has more to do with the fact that Gibson's CEO contributes to Republicans while one of its biggest competitors, C.F. Martin & Company, has a CEO who contributes to Democrats. Incidentally, don't worry too much about Gibson Guitars because the DOJ has come up with a solution: They should fire their American workers and hire people in Madagascar to do the same work.

Boeing: Unions dramatically drive up costs, make it more difficult to fire political workers, are more likely to strike and have been responsible for decimating whole industries in the United States. Naturally, no company ever WANTS to work with a union if it doesn't have to do it. Unfortunately for Boeing, unions are too important to Barack Obama's re-election campaign; so he's stacked the National Labor Relations Board with union puppets who, for the first time in the history of the United States, refused to allow Boeing to open a plant in South Carolina because the plant would use non-union labor.

Deep into the recent recession, Boeing decided to invest more than $1 billion in a new factory in South Carolina. Surging global demand for our innovative, new 787 Dreamliner exceeded what we could build on one production line and we needed to open another.

The National Labor Relations Board (NLRB) believes it was a mistake and that our actions were unlawful. It claims we improperly transferred existing work, and that our decision reflected “animus” and constituted “retaliation” against union-represented employees in Washington state. Its remedy: Reverse course, Boeing, and build the assembly line where we tell you to build it.

These are but a few examples of the Hope & Change brought forth by the back bench junior Senator fro IL masquerading as POTUS! This is the eternal dilemma of the American businessman: At any point some politician, bureaucratic toady, or left-wing judge may come up with some haywire interpretation of a law or regulation and throw sand in the gears. No amount of preparation can really fix the problem because our regulatory schemes have become such vast Byzantine tangles of red tape that everyone is essentially breaking some law or another during every waking moment of the day.

 

[7days]

The left finally gets it.

 

[7days]

Oh my....

Dems discuss dumping Obama

Obama has ruined the Democratic Party. The 2010 wipeout was an electoral catastrophe so bad you’d have to go back to 1894 to find comparable losses. From 2008 to 2010, according to Gallup, the fastest growing demographic party label was former Democrat. Obama took over the party in 2008 with 36 percent of Americans considering themselves Democrats. Within just two years, that number had dropped to 31 percent, which tied a 22-year low.

 

[SparrowHawk]

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

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






*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:


Bill: PPACA, Reconciliation Act; Page: 2000-2003; 87-93

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. 2010): $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

Read more: http://www.atr.org/comprehensive-list-obama-tax-hikes-a6433#ixzz1XPdiqHUI

No wonder he wants to tax the wealthy! He's done beat us to death.

 

[SparrowHawk]

 

[SparrowHawk]

You just gotta love the ragin' cajun James Carvile for pointing out the obvious. I abhor Carville's politics but man o man he is spot on here.

Carville to Obama: Panic
Thursday, 15 Sep 2011 08:09 AM

Political strategist and former Clinton adviser James Carville thinks it's time for President Barack Obama to . . . panic.

Following the results in two highly watched U.S. House elections Tuesday — a stunning upset with a Republican win in New York and and another GOP victory in Nevada — Carville says he can think of only one word of advice for the president: Panic.

"We are far past sending out talking points. Do not attempt to dumb it down. We cannot stand any more explanations. Have you talked to any Democratic senators lately? I have. It's pretty damn clear they are not happy campers.

"This is what I would say to President Barack Obama: The time has come to demand a plan of action that requires a complete change from the direction you are headed."

And then, Carville offers advice to the president in a CNN column. Step 1: "Fire somebody. No — fire a lot of people."

Carville, in his usual no-nonsense approach, then compares Obama's situation with the Russian Army's 64th division at Stalingrad and to Ronald Reagan, George Bush, and Bill Clinton in 1994, when Clinton "fired many people . . . and took a lot of heat for it. Reagan fired most of his campaign staff in 1980. Republicans historically fired their own speaker, Newt Gingrich. Bush fired Defense Secretary Donald Rumsfeld. For God's sake, why are we still looking at the same political and economic advisers that got us into this mess? It's not working."

He goes on to say that Obama's team of advisers, hard-working as they may be, aren't cutting it.

"It's time to show them the exit. Wake up — show us you are doing something."

Carville says the president needs to start investigating those on Wall Street who are "utterly ruining the economic fabric of our country. Demand from the attorney general a clear status of the state of investigation concerning these extraordinary injustices imposed upon the American people. I know Attorney General Eric Holder is a close friend of yours, but if his explanations aren't good, fire him too. Demand answers to why no one has been indicted."

Carville also insists that Obama is just not acting like a Democrat.

"While we are going along with the Republican austerity garbage, who is making the case against it? It's not the Democrats!

"We are allowing the over-educated, over-explanatory bureaucrat by the name of [Congresssional Budget Office Director Douglas] Elmendorf do all the talking. Do not let him make your case. Let us make your case. Is it any wonder that we were doing better in the middle of the stimulus-spending period than we are doing with the austerity program?"

Finally, Carville says Obama must stick to his own explanations and stop susggesting things are improving because, "evidently they are not."

"The course we are on is not working. The hour is late, and the need is great. Fire. Indict. Fight."

Read more on Newsmax.com: Carville to Obama: Panic