» Economy Cristy Li

Obama More Big Promises Without Delivering On First Stimulus

September 6, 2010 — Cristy Li

President Obama returned to campaign mode today pitching yet another stimulus, less than two months out until the general elections.

The latest scheme: $50 Billion (more) for the nations infrastructure

Exactly why is it that the taxpayers should pay for this latest gimmick, before Obama delivers on all of the grandiose promises made with his first economic stimulus?

Democrat-Socialists haven’t yet even spent all of the money from their first stimulus slush fund which was promised to hold unemployment below 8%

Most Asian Stocks Fall after Obama Proposes $50 Billion Dollar Stimulus–Bloomberg

Posted in Barack Obama, Economy, Socialism. No Comments »

Obama’s Recovery Summer: Unemployment Rate 9.6%

September 3, 2010 — Cristy Li

Obama Administration Spin: White House Council of Economic Advisers Chairman Christina Romer, said the Labor Dept report on unemployed was better than expected.

Huh?

Were we not told that Obama’s $787 Billion Dollar actual $862 Billion Dollar Economic Stimulus created 3 Million Jobs?

President Obama reacts to August Jobs numbers, doesn’t mention net jobs loss of 54,000 jobs.

Obama Administration in Denial

Economic Stimulus has worked so well that President Obama now intends to unveil a new stimulus to spark jobs growth and “keep the economy growing.”

More here from The Washington Examiner

Posted in Barack Obama, Economy, Obama Administration, Socialism. No Comments »

Restoring Honor Rally Draws More Than 500,000 At Lincoln Memorial On Saturday

August 28, 2010 — Cristy Li

Glenn Beck calls for National Revival during the “Restoring Honor” rally today in front of the Lincoln Memorial.

Sarah Palin speaks at “Restoring Honor” rally today in Washington, DC where it was estimated that more than 500,000 were in attendance at the Lincoln Memorial.

Alveda King, the Niece of Dr. Martin Luther King, Jr. spoke at the “Restoring Honor” rally—King told the crowd, ” I’m attending this rally to help reclaim America…I’m joining Glenn to talk about faith, hope, charity and honor. Those things that America needs to reclaim. Our children need to remember to love each other, their parents, God and their neighbors. I agree with Glenn on all those principles. So that’s why I’m here, for me its principles over politics.”

Thousands of people poured into the National Mall from the Lincoln Memorial to the World War II Memorial during the “Restoring Honor” rally today in Washington, DC

Related Posts: Report from Washington: Restoring Honor Rally

Beck, Palin, Faith, Hope and Charity—The Weekly Standard

Turnout Strong as Glenn Beck Rallies Americans to Restore “Honor” to the Nation—FOX News

Posted in Economy, Tea Parties. 1 Comment »

Obama’s Recovery Summer Disaster

August 27, 2010 — Cristy Li

Last week in Columbus, Ohio President Obama said, “Slowly but surely we are moving in the right direction…We’re on the right track.”

Today the Commerce Dept confirmed what many Americans already knew and which Obama has been lying about during his Summer Recovery Tour—Economic growth has grown to a trickle 1.6% between April-June, down from earlier estimates of 2.4% and a much slower pace than the 3.7% pace during the 1st Quarter.

President Obama’s Economic Stimulus is a disaster it has grown the deficit without adding jobs—the unemployment rate remains at nearly a 27 year high of 9.5%

Consumer Confidence has weakened according to a University of Michigan study, increasing worries regarding the economic outlook and fears that we may fall into a double-dip recession—if we’re not already in one?

The Most Fiscally Irresponsible Government In U.S. History—US News & World Report

Obama Tax Hikes Defended By Myths & Straw Men—The Heritage Foundation

Posted in Barack Obama, Democrats, Economy, Socialism, Tax Hikes. No Comments »

Obama’s Mortgage Aid Relief Failure

August 21, 2010 — Cristy Li

Nearly half of those who signed up for mortgage aid relief leave the program—more than 2.3 million homes fall into foreclosure again, pushing down neighborhood home values and crippling the broader housing market.

A new report issued by the U.S. Treasury says that foreclosures may continue to rise and weaken the ailing housing market even further.

Americans who signed up for Obama’s Mortgage Aid Relief Program described it as a bureaucratic nightmare, complaining that banks often lose documents and then complain that borrowers didn’t return their paperwork.

Homeowner Often Rejected Under Obama’s Mortgage Aid Relief Plan

More here from Breitbart

U.S. Debt—$13 Trillion+ $44,000 per American Via Yahoo Finance

Posted in Barack Obama, Economy, Obama Administration, Rep. Barney Frank. No Comments »

Obama’s Go On Vacation Again—4th In A Month

August 19, 2010 — Cristy Li

Elitist Liberals In Martha’s Vineyard Welcome The Obama’s

With the nation’s unemployment claims rising to the highest level in 9 months and new weekly jobless claims for unemployment compensation topping 500,000 with escalating federal budget deficits and a new crisis developing in the middle east which I wrote about here instead of staying in Washington taking care of the nations business, the Obama’s now are on their 4th vacation of the Summer—must be nice?

Four vacation in a month for Comrade Obama

While in Martha’s Vineyard, the Obama’s may want to pick up the hottest selling item of the Summer—T-Shirts featuring George W. Bush asking, “Miss me yet?”

Posted in Barack Obama, Economy, Michelle Obama. No Comments »

Federal Budget Deficit Will Top $1.3 Trillion–Worst In 65 Years

August 19, 2010 — Cristy Li

Just in time for the mid-term campaigns, the Congressiona Budget Office reports today, that the federal budget deficit this year will exceed $1.3 Trillion Dollars.

Measured as a share of the total economy the federal budget deficit is 9.1% of Gross Domestic Product, the second largest budget shortfall in 65 years.

In 2009 the federal budget deficit was a record high of $1.4 Trillion Dollars or 9.9% of GDP

CBO forecasts projected deficits totaling $6.2 Trillion for a decade starting in 2011

Remember when Obama campaigned on the pledge to restore fiscal discipline instead the Democrat-Socialists who control Congress along with Obama have blown up the deficit which ran about 3% during George Bush’s last year as President.

During Obama’s Watch—Unsustainable Federal Budget Deficit Government Debt held by the public has gone up from 40% of GDP during Bush’s last year as President to 63% of GDP today and is anticipated to be 90% of GDP by 2020

Related Post: The ObamaCare Disaster—American Spectator

Posted in Barack Obama, Budget Crisis, Democrats, Economy, ObamaCare. No Comments »

Obama’s “Recovery Summer” Goes Bust

August 17, 2010 — Cristy Li

Declaring “Recovery Summer” victory tour at the start of June, must have looked like a pretty safe wager for the Obama Administration. The economy seemed to have shifted firmly into gear during the Spring.

Lawrence Summers, Director of the National Economic Council told the “Financial Times” om early April that the economy was “moving towards escape velocity. You hear a lot less talk of W shaped recoveries and double dips than you did six months ago.”

Recovery Summer looks more like a bad bet, private sector job growth has fallen by two-thirds and the U.S. unemployment rate is still sky high—9.5% and if the size of the U.S. workforce as measured by the Dept of Labor had stayed consistent since April instead of shrinking by a million the unemployment rate would be 10.4 %

Jobless claims are at the highest level since February, worse yet, the expansion is decelerating after growing by 5.7% in the 4th quarter 2009 and 3.7% in the first quarter 2010

Gross Domestic Product advanced by just 2.4% from April through June, according to the Commerce Dept and new data shows the final second quarter number may actually be closer to flat with growth for the rest of the year just 1 to 2 percent at best.

Full article here “Obama’s Bad Bets—Recovery Summer Goes Bust” The Weekly Standard

Posted in Barack Obama, Economy. No Comments »

Obama Begs Wisconsin Voters: “Don’t Give Into Fear”

August 16, 2010 — Cristy Li

Immigration Activists stage a demonstration outside of Obama’s Democrat-Socialist Congressional Campaign Committee fundraiser.

During Obama’s campaign stump speech today in Milwaukee, the President begs/pleads with voters “Don’t give into Fear…Lets reach for Hope.”

Stop with the platitudes Obama—Wisconsin’s property values have fallen on average 3.1% in 2009—President Obama, please explain to voters in Milwaukee, why they should have confidence in anything you have to say?

Bankruptcy Filings in Wisconsin Up 16% in 2010, Spike tied to Unemployment

Obama’s Public Approval Numbers Hit New Low—USA Today

More here Obama Pleads to Voters: “Don’t give into fear” Via Yahoo News

Posted in Barack Obama, Democrats, Economy. No Comments »

Obama’s Failed Economic Summer of Recovery

August 6, 2010 — Cristy Li

Where are the 3 Million Jobs that President Obama claimed, were saved or created from his $862 boondoggle economic stimulus?

Whatever became of the Obama Administration grossly exaggerated economic forecast, that the unemployment rate would be approximately 7% with the Economic Stimulus and in the absence of the plan would be at 8.8% with 90% of the jobs created in the private sector.

Today the U.S. Dept of Labor announced that U.S. employment fell for the second month in a row, non-farm payrolls falling 131,000—the government likewise admitted that they had padded employment numbers in May and June and reported 97,000 fewer jobs than previously stated.