Keyword: stimulus

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  • Stimulus bill enabled billions in waste, exploitation of employees

    09/08/2014 7:43:45 PM PDT · by SeekAndFind · 14 replies
    Hotair ^ | 09/08/2014 | Ed Morrissey
    When Barack Obama and the Democrats on Capitol Hill forced the $800 billion stimulus bill into law, they insisted that waste, fraud, and abuse would not be tolerated. They put “Sheriff” Joe Biden on the case in March 2009, with Obama warning stimulus recipients that “around the White House, we call him the Sheriff — because if you’re misusing taxpayer money, you’ll have to answer to him.” The Department of Transportation employees gathered for the speech laughed at that statement, according to the White House transcript — and well they should have. An in-depth report from McClatchy and ProPublica...
  • Taxpayers and workers gouged by labor-law dodge: 2009 stimulus cheated taxpayers and workers

    09/05/2014 9:52:34 AM PDT · by SeekAndFind · 9 replies
    McClatchy DC ^ | 09/05/2014 | By Mandy Locke and Franco Ordoez
    <p>The largest government infusion of cash into the U.S. economy in generations the 2009 stimulus was riddled with a massive labor scheme that harmed workers and cheated unsuspecting American taxpayers.</p> <p>At the time, government regulators watched as money slipped out the door and into the hands of companies that rob state and federal treasuries of billions of dollars each year on stimulus projects and other construction jobs across the country, a yearlong McClatchy investigation found.</p>
  • Survey: Economists say Fed is on the right track

    08/24/2014 11:50:29 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Aug 25, 2014 12:39 AM EDT | Ken Sweet
    A majority of economists believe the Federal Reserve is doing the right things to help repair the U.S. economy, according to a survey released Monday by the National Association of Business Economists. The survey also showed that a vast majority of economists believe the U.S. economy is at little risk of inflation in the coming years. In the associations semiannual survey, 53 percent of economists said the Feds stimulus programs were on the right track for the U.S. economy while 39 percent thought the Fed was doing too much.
  • Obamas Economy In Action! Data Shows Cash For Clunkers Was An Epic Debacle

    08/10/2014 2:43:53 AM PDT · by afraidfortherepublic · 36 replies
    The Daily Caller ^ | 8-10-14 | Eric Owens
    Cash for Clunkers, the 2009 Obama administration stimulus program designed to spend $2.85 billion to jumpstart the auto industry, turned out to be a complete disaster for the auto industry. In the minds of Obamas team of advisers and economists, the program made total sense, of course. The plan was to dangle a $4,500 credit to persuade car owners to trade in their older automobiles for new cars with better fuel efficiency. It would stimulate an economy then in the midst of a deep recession. As a bonus, it would mean less oil consumption and cleaner-running cars. The law...
  • Oops! Obamas Cash for Clunkers program actually lowered total new vehicle spending

    08/07/2014 10:06:33 PM PDT · by 2ndDivisionVet · 12 replies
    The American Enterprise Institute ^ | August 4, 2014 | James Pethokoukis
    Back in 2008, economist Alan Blinder called the idea of a cash for clunkers federal rebate plan the best stimulus idea youve never heard of. But more and more analysis of the program suggests cash for clunkers will be a stimulus idea well never hear of again. Cash for Corollas: When Stimulus Reduces Spending by Mark Hoekstra, Steven Puller, and Jeremy West finds the programs merely pulled forward car sales from the subsequent seven to nine months and thus had no impact on the number of vehicles sold. This counters the Obama White House claim that a substantial proportion of...
  • White House: Those bridges we promised to fix back in 2009 are totally falling apart

    07/15/2014 2:03:53 PM PDT · by SoFloFreeper · 33 replies
    Twitchy ^ | 7/15/14 | Twitchy Staff
    Five years ago, Democrats spent $700 billion on fiscal stimulus, much of which was supposed to consist of public-works projects to repair the nations crumbling infrastructure.
  • Spain to unveil $8.6 billion stimulus package

    05/31/2014 8:22:09 AM PDT · by Olog-hai · 38 replies
    Associated Press ^ | May 31, 2014 9:31 AM EDT
    Spains prime minister says his government will unveil a stimulus package worth 6.3 billion ($8.6 billion) to boost competitiveness. [] (Mariano Rajoy) said Saturday corporate tax would be cut from 30 percent to 25 percent.
  • The Fates Hate Obama and You Pay the Price

    05/22/2014 5:19:10 AM PDT · by Kaslin · 1 replies
    Townhall.com ^ | May 22, 2014 | John Ransom
    Even the weather refuses to cooperate with Obama. So who can blame the GOP for spurning him? Thats how much hes been abandoned by the fates. And we pay the price for his gamble on his destiny, his legacy, his lie. Its ironic that at a time when Wall Street has been adjusting expectations for the economy because of moderately cold weatherlike THATs never happened before-- Obama is banging the drum for more draconian cuts to our great American-supplied fossil fuels. He cites global warming as the culprit. President Obama is putting global warming in the spotlight this week, using...
  • Another Obama-backed 'green' company, Smith Electric Vehicles,...

    05/05/2014 6:39:33 AM PDT · by afraidfortherepublic · 4 replies
    Washington Examiner ^ | 5-5-14 | Richard Pollack
    Four years have passed since President Obama visited Kansas City's main airport, rolled up his shirt sleeves and admonished the skeptics who said Smith Electric Vehicles was unlikely to make good on its promises to build 510 experimental electric-powered trucks and buses suitable for commercial use. Come see whats going on at Smith Electric," the president said, inspecting a table full of bright green truck batteries in what was once a maintenance hangar for TWA. "I think theyre going to be hard-pressed to tell you that youre not better off than you would be if we hadnt made the investments...
  • Whistleblowers Expose Rampant Corruption Inside Spanish Conglomerate Abengoa...

    05/04/2014 2:31:04 PM PDT · by calfit32 · 7 replies
    The Green Corruption Files ^ | May 2, 2014 | Christine Lakatos
    The Bureau of Land Management is attempting to shut down the Bundy Ranch to clear the path for massive solar energy developments in southern Nevada that will enrich an A-list of well-connected Democrats close to President Obama, Al Gore, Bill Clinton and others. Completely unreported however, a scandal of epic proportions has been brewing with yet another Democrat-connected recipient of green energy stimulus funds. The Spain-based conglomerate Abengoa operates close to 600 subsidiaries throughout Europe, the Middle East, Latin America, and Asia, and has received $3.6 billion in loans and grants in direct violation of President Obamas "Recovery Act" promise...
  • The Madison County Bridges In Nowhere And The Perennial Myth Of Crumbling Infrastructure

    04/30/2014 11:37:42 AM PDT · by all the best · 10 replies
    Davis Stockman's Contra Corner ^ | April 29, 2014 | Davis Stockman
    Whenever the beltway bandits run low on excuses to run-up the national debt they trot out florid tales of crumbling infrastructurethat is, dilapidated roads, collapsing bridges, failing water and sewer systems, inadequate rail and public transit and the rest. But most especially it presents a swell opportunity for Washington to create millions of jobs. And, according to the Obama Administrations latest incarnation of this age old canard, it can be done in a fiscally responsible manner through the issuance of green ink bonds by a national infrastructure bank, not red ink bonds by the US Treasury. The implication, of course,...
  • White House back to peddling economic stimulus-via-infrastructure spending and new taxes

    04/30/2014 10:38:37 AM PDT · by SeekAndFind · 10 replies
    Hotair ^ | 04/30/2014 | Erika Johnsen
    As President Obama so peevishly informed us all earlier this month, that the debate on repealing/replacing ObamaCare is now absolutely beyond contestation, so it would be really great if we could all just shut up and move on to more important things — like, say, the economy, because “the fifty or so votes Republicans have taken to repeal this law could have been fifty votes to create jobs by investing in things like infrastructure, more innovation.” That’s why the White House is leading by example and contrasting itself with Congress’s deliberately light legislative schedule — by proposing the same old...
  • BIG NEWS: Feds Paid $40 Million to Claire McCaskills Husbands Businesses (calls for tax returns)

    10/09/2012 11:34:20 AM PDT · by barmag25 · 24 replies
    The Gateway Pundit ^ | 10/9/12 | Jim Hoft
    Game Changer? The federal government paid nearly $40 million dollars to Claire McCaskills husbands businesses her first five years in office as Missouri Senator. During that time McCaskill has had influence over federal policy that has directly affected her familys income. Missouri royalty - The rest of the country has suffered but Claire McCaskill and her husband Joseph Shepard have done very well these past five years. There are renewed calls for Democrat McCaskill to release her tax returns. ABC3040 reported: Businesses affiliated with the husband of Missouri Sen. Claire McCaskill have received almost $40 million in federal subsidies for...
  • CBO Repeatedly Confounded Liberals, Vindicated Conservatives in February

    03/06/2014 2:41:00 PM PST · by Kaslin · 4 replies
    Townhall.com ^ | March 6, 2014 | Akash Chougule
    February was not kind to supporters of the liberal agenda. In the span of four weeks, the nonpartisan Congressional Budget Office (CBO) released four separate reports, each concluding that misguided big government policies are hurting American businesses and families. CBO first reported in early February that President Obamas healthcare law will drive millions out of full time work and push our ballooning national debt to $27 trillion dollars. A second report released by the CBO concluded that a mandated hike in the minimum wage to $10.10 would kill 500,000 jobs, mostly for low-wage workers. And a third report suggested that...
  • Boxer: Absolutely No Way Were Going to Cut Spending

    03/03/2014 10:16:30 AM PST · by Olog-hai · 28 replies
    Cybercast News Service ^ | March 3, 2014 - 11:23 AM | Eric Scheiner
    While discussing federal spending and transportation funding, Sen. Barbara Boxer (D-Calif.) said there is absolutely no way were going to cut spending. Boxer was discussing the Highway Trust Fund with members of the American Association of State Highway and Transportation Officials (AASHTO) in Washington on Feb. 26th, when she addressed various tax increases that may be used to raise money for the program. I dont see support for raising the gas tax and there is absolutely no way were going to cut spending, so its going to have to be a creative way to fund this in reality, Boxer said....
  • Obama Must Go

    03/03/2014 2:26:06 AM PST · by servo1969 · 74 replies
    Townhall.com ^ | 3-3-2014 | John Ransom
    As Obama moves from one disaster to the next disaster, its clear that hes lacking the support from citizens here at home, is viewed skeptically by people abroad, and lacks the respect from foreign leaders that the Great Seal of the United States should confer on any president. A CBS News/ New York Times poll out tonight find only 40% of Americans are satisfied with the presidency of Barack Obama, reported CBS News last week. 59% say they're disappointed. Only 59 percent? Whats wrong with these people? Obamas been beaten on Syria, Iraq, Afghanistan, Libya, and now in Ukraine. Hes...
  • Amid military cuts, Obama urges $300B for roads and railways

    02/26/2014 2:46:38 PM PST · by SkyPilot · 34 replies
    Fox News and AP ^ | 26 Feb 14 | AP staff
    Just two days after the Pentagon outlined major cuts to the U.S. Army and other military programs, President Obama is calling for a whopping $300 billion commitment for America's roads, bridges and mass transit systems -- though as much as half comes from a tax plan that has bleak prospects on the Hill. The president talked about the stimulus-style plan during a stop Wednesday afternoon in St. Paul, Minn. Officials say the money, as proposed, largely would come from "pro-growth business tax reform." But aside from the challenges in pushing tax reform, Obama could have a hard time making the...
  • 2011 Flashback - Community Reinvestment Act: Separating Fact From Fiction

    02/23/2014 4:39:41 PM PST · by Son House · 13 replies
    IBD Editorials ^ | 03/29/2011 | Staff
    FACT: The toothless 1977 regulations fully expired in July 1997, when President Clinton rewrote them to toughen CRA enforcement as part of a crusade to close the "mortgage gap" between blacks and whites. For the first time, banks were required to show results. One of the five performance criteria in the "lending test" the most heavily weighted component of the CRA exam was adopting "flexible lending practices" to address the credit needs of poor borrowers in "predominantly minority neighborhoods." Banks that didn't bend their underwriting rules risked flunking the exam. Ex-Federal Reserve Board Gov. Lawrence Lindsey, a staunch...
  • NY Times: The Stimulus worked! (Almost verbatim White House talking points)

    02/23/2014 11:37:10 AM PST · by SeekAndFind · 35 replies
    American Thinker ^ | 02/22/2014 | Rick Moran
    Here's an editorial in the New York Times about the beneficial effects of the $832 billion stimulus bill passed in 2009 that could have been written in the White House: Of all the myths and falsehoods that Republicans have spread about President Obama, the most pernicious and long-lasting is that the $832 billion stimulus package did not work. Since 2009, Republican lawmakers have inextricably linked the words "failed" and "stimulus," and last week, five years after passage of the Recovery Act, they dusted off their old playbook again."The 'stimulus' has turned out to be a classic case of big promises...
  • Why You've Never Heard of the GReat Depression of 1920-21

    02/23/2014 9:46:03 AM PST · by Attention Surplus Disorder · 31 replies
    The Mises Institute ^ | 4/4/2009 | Thomas Woods
    Very interesting presentation by Thomas Woods, discussing the GD of 1920-1921, the depression nobody ever talks about. Well worth watching, :41, only a couple of slow spots, otherwise entertaining. It is never talked about because the US economy rapidly came out of it with NO federal stimulus; indeed, the Fed lowered taxes and decreased spending during this period. Instead, Warren G. Harding was universally ridiculed for his clumsy speeches; examples of which are given and which sound entirely sensible. Virtually all historians castigate Harding because he was allegedly slow and stodgy, and during the latter half of his term, the...
  • Senate's Generational Theft Act roll call vote; Where was Cornyn? (2009 skipped cloture vote)

    02/19/2014 5:18:16 AM PST · by jimbo123 · 1 replies
    Michelle Malkin ^ | 2/9/2009 | Michelle Malkin
    Here it is, for posterity. Trying to find out why Sen. John Cornyn did not vote: Triumph of the Turncoat Caucus. *** Ive just e-mailed Sen. Cornyns office and asked why he missed the vote. Heard from a NYC conservative that Cornyn is there now speaking to the Republican Monday Meeting group made up of wealthy GOP donors. Bizarre display of priorities. Several Washington Hill folks note, of course, that the number of no votes isnt important on cloture votes. But it matters to many of Sen. Cornyns tax-paying constituents, who have e-mailed wondering where he was.
  • Total Lawlessness, a Disastrous Economy, and CBS Asks Obama About ... What He's Watching on TV

    RUSH: This is CBS this morning and the co-respondent is Bill Plante. We had the fifth anniversary of the stimulus yesterday. We're in the midst of an absolutely devastated United States economy. There is no end in sight. We are also in the midst of the total wrecking of the American healthcare system. We are in the process of tearing it apart and rebuilding it all under government control eventually. No matter where you look, the jobs market, the economy, any Obama policy, no matter where you look, there is utter disaster. In fact, polling data out there, Washington Examiner,...
  • Five years later, White House and critics fight over stimulus law

    02/17/2014 6:21:15 PM PST · by BenLurkin · 4 replies
    LAT ^ | February 17, 2014, 2:20 p.m. | David Lauter
    As told by Democrats, the stimulus law is a tale of officials using government effectively to shield families from a severe economic crisis triggered by inadequately regulated speculation. In that accounting, the law is a prime example of how a strong central government can help the average person. To Republicans, by contrast, the law provides proof that government spending does little other than to burden future generations with debt. Given the continued weakness in the economy, Republicans have the simpler case to make: Good times have not yet returned, therefore, Obamas policies have failed. Florida Sen. Marco Rubio demonstrated the...
  • SEN. CORNYN BLASTS PORKULUS ANNIVERSARY DESPITE ABSENCE ON VOTE

    02/17/2014 2:20:21 PM PST · by jimbo123 · 10 replies
    Breitbart Texas ^ | 2/17/14 | MICHAEL QUINN SULLIVAN
    In the heat of a re-election campaign, U.S. Sen. John Cornyns press office issued a strong statement today condemning the 5-year anniversary of President Obama signing the Democrat-led stimulus package into law. Yet Cornyn was one of two senators both Republicans who were absent when the measure first went before the Senate in 2009. Five years later, our economy is still sluggish, Americans are dropping out of the workforce by the thousands, and the Presidents latest big government experiment, Obamacare, is now on track to slash 2 million more jobs from the workforce, wrote Cornyn about the American...
  • Silence (So Far) from Democrats on Stimulus Anniversary

    02/17/2014 1:27:00 PM PST · by Libloather · 11 replies
    NBC News ^ | 2/17/14 | Mark Murray
    When the $787 billion federal stimulus was signed into law exactly five years ago this Monday, the U.S. economy was losing almost 800,000 jobs per month. Now? More than 4.2 million jobs have been added since March 2009. Also at this time five years ago, the unemployment rate was 8.3% and would climb to a high of 10.0% just months later. Now it stands at 6.6%. But on this fifth anniversary of the stimulus passed mostly along party lines in response to financial crisis and Great Recession Democrats and the White House have responded so far with ...
  • 5 Years After Stimulus, Obama Says It Worked(libs at Time waking up)

    02/17/2014 11:20:16 AM PST · by gooblah · 18 replies
    Time Swampland ^ | Michael Grunwald
    Five years ago Monday, President Barack Obama visited the Denver Museum of Nature and Science to sign the American Recovery and Reinvestment Act, his $800 billion stimulus bill. At the time, the U.S. economy was losing 800,000 jobs a month. In the fourth quarter of 2008, it had contracted at an 8% annual rate, a Depression-level free fall. Today does not mark the end of our economic problems, Obama said on Feb. 17, 2009. But it does mark the beginning of the end. And so it did. The stimulus quickly became a national joke, mocked by the right as a...
  • Where was Cornyn? (2009 Stimulus Cloture Vote Flashback)

    02/17/2014 6:27:52 AM PST · by jimbo123 · 13 replies
    Politico ^ | 2/9/2009 | Glenn Thrush
    Texas Republican Sen. Jon Cornyn -- head of the GOP's Senatorial committee -- has been an outspoken critic of Democratic stimulus efforts, but he chose to skip tonight's cloture vote on the package without offering a detailed explanation. Cornyn was the only no-show -- except for Commerce Secretary nominee Judd Gregg, who recused himself. So where was Cornyn? "He had a long standing commitment and since it was cloture vote and no vote is like a "no" vote, he stuck to it," wrote spokesman Kevin McLaughlin in an E-Mail to Politico. "Obviously [he] is against [it] and will vote no...
  • Five Years After Stimulus: 1,268 Cases of Fraud

    02/16/2014 8:44:06 PM PST · by Nachum · 10 replies
    The Gateway Pundit ^ | 2/16/14 | Jim Hoft
    Posted by Jim Hoft on Sunday, February 16, 2014, 10:38 PM In November 2010, Vice President Joe Biden said fraud and abuse of the stimulus bill had been kept to a surprisingly low level. This came a year after Barack Obama bestowed VP Joe Biden with the title of the stimulus sheriff. Barack Obama signs the failed stimulus into law in 2009.Fast forward five years Investigators have proven 1,268 cases of fraud in the $840 billion stimulus program.USA Today reported: Despite thousands of fraud cases, the financial losses under the 2009 Recovery Act have been just...
  • Stimulus Worked as Intended! (Guest Post)

    02/16/2014 11:17:40 AM PST · by Starman417 · 7 replies
    Flopping Aces ^ | 02-16-14 | Blowhard
    The other night I attended a Republican meeting in Alexandria, Virginia, a suburb of Washington D.C. A candidate for Senator was speaking and I wanted to hear what he had to say. His name is Ed Gillespie and he has been a volunteer and elected leader in the Republican party for 30 years. I won't bore you with his party platform policies or a description of his well polished demeanor and dress. Let me just assure you he looked and sounded the part. But he said something that made me question him and the Republican party. He alluded to Obama...
  • Five Years Later: How's that Wreckovery Working Out?

    02/14/2014 4:33:06 AM PST · by Kaslin · 14 replies
    Townhall.com ^ | February 14, 2014 | Michelle Malkin
    On Feb. 17, 2009, President Obama promised the sun and the moon and the stars. That was the day, five years ago, when he signed the $800 billion "American Recovery and Reinvestment Act." President Modesty called it "the most sweeping economic recovery package in our history." He promised "unprecedented transparency and accountability." He claimed the spending would lift "two million Americans from poverty." Ready for the reality smackdown? The actual cost of the $800 billion pork-laden stimulus has ballooned to nearly $2 trillion. At the time of the law's signing, the unemployment rate hovered near 8 percent. Obama's egghead economists...
  • Biden's Third World Country

    02/11/2014 1:36:47 PM PST · by Kaslin · 8 replies
    Townhall.com ^ | February 11, 2014 | Scottie Hughes
    Last week, our nations genius Vice President Joe Biden offered a statement which alienated some of his most loyal fans. If I blindfolded someone and took them at 2:00 in the morning into the airport in Hong Kong and said where do you think you are, theyd say, this must be America, its a modern airport, Biden said during a speech on infrastructure in Philadelphia. Mr. Biden had a point, though not for the reason he thinks. The Vice President believes that the Government is not spending enough money on infrastructure projects like airports, bridges and highways. If that is...
  • Joe Biden: Infrastructure, Not Personal Freedom, is Behind Americas Economic Dominance

    02/07/2014 6:17:54 AM PST · by SoFloFreeper · 16 replies
    PJ Media ^ | 2/6/14
    ...Biden also had this to say on the subject of why America has the worlds largest economy. No, Im not joking! he added. Why did we lead the world economically for so long? We had the most modern infrastructure in the world. Biden implies that we no longer lead the world economically, which isnt true. Its not even close to true. The US economy is still the worlds largest by far, nearly double the size of Chinas economy and more than three times third-place Japans. Several US states, including California, Texas and New York, would rank above most national economies...
  • Bernanke Leaves Fed with Record Balance Sheet of $4,102,138,000,000

    02/01/2014 2:01:10 AM PST · by Olog-hai · 17 replies
    Cybercast News Service ^ | January 31, 2014 - 4:21 PM | Ali Meyer
    Retiring Federal Reserve Chairman Ben Bernanke, who was replaced by Janet Yellen as of today, is leaving the Federal Reserve with an unprecedented $4,102,138,000,000 in total assets on its balance sheet, up 391 percent from the $834,663,000,000 in total assets the Fed showed on its balance sheet when Bernanke took over as chairman in February 2006. Much of the increase in the Feds assets has come in the form of U.S. Treasury securities and Freddie Mac and Fannie Mae mortgage-backed securities that the Fed purchased over the last five years in its attempts to stimulate the economy.
  • Obama's Stimulus Money-Laundering Scam

    01/15/2014 2:04:57 PM PST · by Nachum · 8 replies
    Rushlimbaugh.com ^ | 1/15/14 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Newport Beach in California. Steve, I'm glad you called, sir. Great to have you on the EIB Network. Hello. CALLER: Rush, good to be here, love listening to your show, and again your comments this morning regarding the unions and the -- RUSH: Money laundering. CALLER: Exactly. That's the term I was looking for, the money laundering. It's exactly what's going on out here in California with the bullet train. The politicians in California, all the Democrats have given all of the public employee unions their payback, but they've got a problem. All of the private sector...
  • Liberal Economic Mythology on Unemployment Benefits

    01/10/2014 9:56:47 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | January 10, 2014 | David Limbaugh
    How can we ever expect America's younger generations to preserve America's greatness when the president of this nation keeps preaching damaging economic myths and misguided moral lessons? It's one thing for our elected representatives to express compassion for those facing difficult financial circumstances. It's another for them to elevate the receipt of unemployment benefits and other forms of government dependency programs to a virtue. And it's yet another for them to justify these wrongheaded policies with false claims that they actually improve conditions when they make them worse. President Obama's policies of expanding the government and his practice of punishing...
  • Dow, S&P end at record highs after Fed's stimulus cut

    12/18/2013 1:16:37 PM PST · by NormsRevenge · 36 replies
    Yahoo Finance ^ | 12/18/13 | Angela Moon - Reuters
    NEW YORK (Reuters) - The Dow and the S&P 500 closed at all-time highs on Wednesday after the Federal Reserve announced a small reduction in its stimulus program, confirming that the U.S. economy was on firm footing.
  • Americans Don't Buy Obama's Talk Of Economic 'Recovery'

    12/06/2013 5:44:46 AM PST · by raptor22 · 16 replies
    Washington Examiner ^ | December | Staff
    President Obama regularly touts what he calls the economic recovery supposedly prompted by his policies, including the creation of 7.5 million jobs, consistent growth for more than three years and revitalization of the domestic auto industry. He recently told ABCs This Week host George Stephanopoulos, for example, that during the Great Recession of 2008, we came in, stabilized the situation. The banking system works. It is giving loans to companies who can get credit. And so we have seen, I think undoubtedly, progress across the board. Its an upbeat talking point for the president, but the problem is most Americans...
  • Obama Administration Urges More Unemployment

    11/18/2013 6:16:18 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | November 18, 2013 | Daniel J. Mitchell
    President Obama has presided over a terrible jobs market. Unemployment is more than two-percentage points higher today than the White House claimed it would be if the so-called stimulus was enacted. Even more worrisome, the employment-population ratio seems to have permanently fallen, which is bad news for economic performance since our output is a function of how much capital and labor is being productively utilized. So whats the response from the Obama Administration? Well, they want to further subsidize people for not working. Im not joking. Heres some of what has been reported by the Huffington Post. The Obama administration...
  • Barack Obama and the Myth of the Unforced Error

    11/01/2013 2:20:40 PM PDT · by jfd1776 · 3 replies
    Illinois Review ^ | November 1, 2013 A.D. | John F. Di Leo
    Many believe that the current administration or perhaps more broadly, the current Democratic regime, by the triumvirate Obama, Pelosi, and Reid since the 2006 elections will be remembered and condemned for its unforced errors that is, for the unnecessary mistakes it has made, through mishandling programs and clumsily creating needless trouble by misreading economic cause-and-effect or societal trends. But were they truly errors at all? Were they mistakes? Much of the damage done by this administration has in fact been intentional either out of some arrogant belief that we elites know better than you do or out...
  • Bankrupt solar panel firm took stimulus money, left a toxic mess, says report

    10/30/2013 3:07:52 PM PDT · by lowbridge · 26 replies
    http://www.foxnews.com ^ | October 30, 2013
    A Colorado-based solar company that got hundreds of millions of dollars in federal loan guarantees before going belly-up didn't just empty taxpayers' wallets - it left behind a toxic mess of carcinogens, broken glass and contaminated water, according to a new report. The Abound Solar plant, which got $400 million in federal loan guarantees in 2010, when the Obama administration sought to use stimulus funds to promote green energy, filed for bankruptcy two years later. Now its Longmont, Colo., facility sits unoccupied, its 37,000 square feet littered with hazardous waste, broken glass and contaminated water. The Northern Colorado Business Report...
  • Fed maintains strong stimulus as U.S. growth stumbles

    10/30/2013 11:37:27 AM PDT · by NormsRevenge · 41 replies
    Yahoo! News ^ | 10/30/13 | Pedro da Costa and Alister Bull - Reuters
    WASHINGTON (Reuters) - The Federal Reserve extended its support for a slowing U.S. economy on Wednesday, sounding a bit less optimistic about growth and saying it will keep buying $85 billion in bonds per month for the time being. In announcing the widely expected decision, Fed officials nodded to weaker economic prospects due in part to a fiscal fight in Washington that shuttered much of the government for 16 days earlier this month. The Fed indicated the recovery in housing had lost some steam, while noting some reversal in a recent spike in borrowing costs. "Available data suggest that household...
  • Arthur Laffer: cuts succeeded where stimulus failed - Austerity Works

    10/25/2013 3:02:03 AM PDT · by Cincinatus' Wife · 10 replies
    The Spectator UK ^ | October 26, 2013 | Arthur Laffer
    America has shown that stimulus is pointless how can a poor person spend himself to prosperity? All the drama coming out of Washington in the last few weeks has obscured some seriously good news: federal government spending is falling. And not at a trickle: think the White Cliffs of Dover. Not since the economic boom following 1945 have Americans seen such a rapid decline in the governments claim on the nations resources falling by a welcome $94 billion over two years. You need to go back to the end of the Korean war to find a time when...
  • Study Shows Limbaugh Plan Would Have Worked Better Than Obama's Stimulus

    10/23/2013 12:32:23 PM PDT · by Kaslin · 1 replies
    Rush Limbaugh.com ^ | October 23, 2013 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Last night on Breitbart this came in over the transom. Try this headline: "Experts Conclude: Limbaugh Plan Better than Obama's Stimulus." And I said, "My gosh, who remembers that? That's five years ago." And Joel Pollak writing in Breitbart: "In 2009, at the height of debate about President Barack Obama's stimulus plan, conservative radio host Rush Limbaugh proposed a compromise in the pages of the Wall Street Journal that would have devoted half the stimulus to tax cuts. Now, a new working paper by the National Bureau of Economic Research (NBER) concludes that Limbaugh was right, at...
  • Anxiety as stimulus hike in food stamps set to end

    10/10/2013 8:07:14 AM PDT · by DJ MacWoW · 95 replies
    Associated Press ^ | Oct 10, 2013 6:21 AM (ET) | RIK STEVENS
    CONCORD, N.H. (AP) - A temporary increase in food stamps expires Oct. 31, meaning for millions of Americans, the benefits that help put food on the table won't stretch as far as they have for the past four years. Food stamps - actually the Supplemental Nutrition Assistance Program - go to 47 million Americans a month, almost half of them children and teenagers.
  • Not Even Fisker's Fire Sale Can Dampen DOE Enthusiasm for 'Investments'

    09/19/2013 3:02:43 PM PDT · by jazusamo · 6 replies
    NLPC ^ | September 19, 2013 | Paul Chesser
    After the Department of Energy announced this week ithad given up on not-bankrupt-but-should-be Fisker Automotive, and will auction off its loan for a pittance, youd think (and hope) Congress would have had enough of this kind of thing. Senator John Thune certainly has. The Obama administration has gotten into the business of picking winners and losers at a significant cost to taxpayers, said the South Dakota Republican yesterday. Im calling for the Senate to consider my amendment to eliminate the wasteful ATVM loan program and for my colleagues to join me in protecting taxpayer dollars from any future risky green...
  • Fed: No taper

    09/18/2013 11:13:08 AM PDT · by Hojczyk · 95 replies
    CNBC ^ | September 18, 2013 | Jeff Cox
    <p>An economy still stumbling toward recovery was not enough to sway the Federal Reserve, which defied market expectations Wednesday and said it will not begin pulling back on its monthly asset-purchasing program. Stocks surged on the news but bond yields were flat.</p>
  • Grace Hill asked to return federal funds [stimulus] targeted to reduce pollution

    09/04/2013 4:04:29 PM PDT · by kevcol · 4 replies
    St. Louis Post-Dispatch ^ | Sept 4, 2013 | Nancy Cambria
    Should a St. Louis nonprofit agency that helps the poor have any business in rebuilding the diesel engine of an old Mississippi River tugboat named the Bryant T? Thats essentially the question raised in a recent federal audit of a Grace Hill Settlement House program to retrofit diesel engines and reduce pollutants from delivery trucks, school buses, fire engines and even two old tugboats in St. Louis. The audit recommended the agency return more than $1.4 million to the Environmental Protection Agency.
  • Detroit Teachers Moonlight As Sugar Babies (i.e., Paid Escorts) To Offset Wage Cuts

    08/28/2013 7:55:18 PM PDT · by DogByte6RER · 44 replies
    CBS Detroit ^ | August 28, 2013 | CBS Detroit
    Detroit Teachers Moonlight As Sugar Babies To Offset Wage Cuts DETROIT (WWJ) - Its back-to-school season and many Detroit teachers are struggling in the wake of budget cuts and overcrowded classrooms. According to the National School Supply and Equipment Association, the average teacher spent at least $485 on school supplies for their classroom last year. So, what are some Detroit women doing to offset their struggles in the classroom? Well, theyre becoming sugar babies of course seeking financial assistance from wealthy men online. In the Detroit School District alone, 201 teachers are moonlighting as sugar babies to offset wage...
  • Obama Administration: Its Incompetence Is Historic

    08/28/2013 9:31:59 AM PDT · by 2ndDivisionVet · 30 replies
    RealClearPolitics ^ | August 27, 2013 | Michael Barone
    Evidence of the astonishing incompetence of the Obama administration continues to roll in. It started with the stimulus package. One-third of the money went to public employee union members -- a political payoff not very stimulating to anyone else. Billions went to green energy loans, like the $500 million that the government lost in backing the obviously hapless Solyndra. Infrastructure projects, which the president continues to tout, never seem to get built. He's been talking about dredging the port of Charleston, for example, to accommodate the big container ships coming in when the Panama Canal is widened. The canal widening...
  • Beginning of the End? (Like it or not, QE is coming to an end)

    08/20/2013 6:30:31 AM PDT · by SeekAndFind · 27 replies
    Alhambra Investment Partners ^ | 08/20/2013 | Joe Calhoun
    The stock market pulled back last week and we are now in the midst of a mild correction, down all of 3% from the all time highs set just a couple of weeks ago. It has been an extremely orderly retreat so far with the volatility index barely budging from its recent lows. The natural question is whether this is the start of a bigger correction, the start of a bear market or merely another buying opportunity in a bull run that is getting long in the tooth by historic standards. There were 33 bull markets from 1900 to the...