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New income data from the Census Bureau reveal what a great job Barack Obama has done for the middle class as President. During his entire tenure in the oval office, median household income has declined by 7.3%. In January, 2009, the month he entered office, median household income was $54,983. By June, 2012, it had spiraled down to $50,964. That’s a loss of $4,019 per family, the equivalent of losing a little less than one month’s income a year, every year. And on our current course that is only going to get worse not better. Obama never tires of telling...

WASHINGTON (Reuters) - The number of people filing new claims for unemployment insurance rose to a higher-than-expected 462,000 in the latest week, the Labor Department said on Thursday, while the number of people still collecting jobless benefits fell to an almost two-year low. First-time jobless claims rose 13,000 in the week ended October 9 from the prior week's upwardly revised 449,000 seasonally adjusted claims. The four-week average of first-time jobless benefits, which economists prefer because it smoothes out weekly fluctuations, rose 2,250 to 459,000. Economists polled by Reuters had expected about initial 445,000 claims in the latest week.

Dear IRS, I'm sorry to inform you that I'm not going to be able to pay the taxes owed on April 15th, but all is not lost. I paid these taxes, accounts receivable tax, building permit tax, CDL tax, corporate income tax, dog license tax, federal income tax, unemployment tax, gas tax, hunting license tax, fishing license tax, waterfowl stamp tax, inheritance tax, inventory tax, liquor tax, luxury tax, Medicare tax, city tax, school and county property tax up to 33% the last four years. Real estate tax, Social Security tax, road use tax, toll road tax, state and city...

A Christian financial expert says the "socialist" economic policies of President Obama may bring temporary relief but they will also lead to long-term destruction of wealth. Bloomberg reports that the Dow Jones Industrial Average has fallen 20 percent since Inauguration Day, the fastest drop under a newly elected president in at least 90 years. When asked last week about stock market swoon, the president replied: "What I'm looking for is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing." Chuck Bentley is CEO of...

At least on Wall Street, the honeymoon is over for President Barack Obama. Polls still show the President has strong popularity among the general U.S. population, and Obama continues to command power in Congress. But among investors, fairly or unfairly, there is griping that the new Obama Administration is at least partly to blame for the recent slide in stocks. Since Nov. 4, Election Day, the broad Standard & Poor's 500-stock index is off about 25 percent, and since Jan. 20, when Obama took office, the "500" is down 15 percent. It's never easy to determine exactly why the stock...

NEW YORK (AP) -- Investors fled Wall Street as fear grew about the stability of the nation's largest banks and worries mounted about General Motors Corp. The major market indicators resumed their slide Thursday after a one-day rally, falling to levels not seen in more than a decade as investors contended with more disheartening economic data, new concerns about the stability of GM and ongoing uncertainty about the financial system.

NBC's Tom Costello, on duty at the White House today, asked press secretary Robert Gibbs about some comments made by his CNBC colleague Jim Cramer. On the Today show this morning, Cramer called Pres. Obama's budget a "radical agenda," adding, "This is the greatest wealth destruction I've seen by a President." "I'm not entirely sure what he's pointing to to make some of the statements," said Gibbs. "And you can go back and look at any number of statements he's made in the past about the economy and wonder where some of the back-up for those are too." When pressed...

Tuesday, February 17, 2009 "The Worst is Yet to Come"-America undergoing a Permanent CHANGE! Posted Feb 17, 2009 12:53pm EST by Aaron Task in Investing, Recession There's no question the American consumer is hurting in the face of a burst housing bubble, financial market meltdown and rising unemployment. But "the worst is yet to come," according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American's standard of living is undergoing a "permanent change" - and not for the better as a result of: An $8 trillion negative wealth effect from declining home values. A $10 trillion negative wealth...

Bombs away! No free gas or mortgage for you!