Nations Debt: $166 Billion in one day

The nation’s debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground.

The one-day increase for June 30 totaled $165,931,038,264.30 – bigger than the entire annual deficit for fiscal year 2007 and larger than the $140 billion in savings the new health care bill will produce over its first 10 years. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income.

Daily debt calculations jump and fall, and big shifts are common. But all three of the biggest one-day debt increases have occurred under the tenure of President Obama, and all of the top six have been in the past two years – an indication of just how quickly the pace of deficit spending has risen under Mr. Obama and President George W. Bush.

Categories: Economics

Obama Nominee: “We need to Redistribute Wealth.”

Weren’t those the same sentiments echoed by the giants in the school of thought formerly known as Communism (aka Progressivism)? Think it’s funny Obama is bypassing the Senate to immediately put this guy into action. “Any health care funding plan…must redistribute wealth…Excellent Healthcare by is by definition redistribution.” See it in this clip (about the 1:40 mark).

WH: Obama filling Medicare post, bypassing Senate

WASHINGTON – President Barack Obama intends to use the congressional recess to bypass the Senate and appoint Dr. Donald Berwick, an expert on patient care who’s drawn fire from the GOP, to oversee Medicare and Medicaid, the White House announced late Tuesday.

Categories: Economics, Politics

Are We Sure More Government Oversight Is Needed?

Categories: Environment, Politics

Obama Ratings Still Falling…

June 30, 2010 3 comments

Could this be even more of an indicator of what is to come in 2012? From the ratings drop reported earlier, new polls suggest things are getting worse.  What I found even more alarming is that 64% are dissatisfied with the way things are going in the country…65%?!?!?

Other highlights of the research:

  • How do  Americans approve of congress? Only 13% gave congress a rating of good or better.  (Ouch…I’d hate to be up for re-election in November).
  • How do Americans approve of the President? Only 40% gave Obama a rating of good or better; I will note that this was up 1% from exactly one month ago.
  • How much confidence do you have that the government in Washington D.C. will make progress over the next year on the most important problems facing the country? 10% said they have a lot of confidence.
  • 60% are in favor of States making cuts to meet budget demands instead of federal government bailing them out (with cuts in road maintenance and public transportation being the most favorable areas).
  • 60% are opposed to raising taxes

Sample size political demographic: Republican–24%; Democrat–31%; Independent–35%; No pref–5%; Other–5%. America is speaking loudly. Will manifest itself come November.

Categories: Politics

White House, Google violate lobbying pledge

June 25, 2010 4 comments

Why can’t we ever get away from  corrupt government? Why does this not surprise me.

Maybe a $150 billion company with 21,000 employees and 20 percent profit margins doesn’t count as big business or a special interest if it talks about “changing the world from the bottom up, not from the top down,” as President Obama put it.

Maybe a millionaire who spends his days leaning on policymakers to benefit his company isn’t a lobbyist if he calls himself an “Internet evangelist.”

Or maybe Google’s cozy relationship with the White House — exposed more clearly by e-mails recently made public through the Freedom of Information Act — is just one more instance of the administration’s actions contradicting Obama’s reformer rhetoric about battling the special interests and freeing Washington from lobbyist influence.

Timothy P. Carney: White House, Google violate lobbying pledge

Categories: Politics, Technology

Conservatives Still Outnumber Moderates, Liberals

In 2010, Conservatives Still Outnumber Moderates, Liberals.

Is this a precursor to 2010 elections? Maybe so.

Categories: Politics

Obama’s ratings continue to fall

President Barack Obama’s job performance rating has dropped to the lowest level of his presidency as Americans grow less confident in his leadership, according to an opinion poll published on Wednesday.

Obama’s rating stood at 45 percent in the Wall Street Journal/NBC News poll, down 5 points from early last month. For the first time in the survey, more people — 48 percent — say they disapprove of Obama’s job performance.

A majority of respondents, 62 percent, said the country was on the wrong track.

Forty-nine percent of those surveyed rate Obama positively on “strong leadership qualities,” down from 70 percent when he became president and a drop of 8 points since January.

The poll also showed growing concern over the BP oil spill in the Gulf of Mexico and slipping confidence in Obama’s handling of the environmental disaster that has shut down rich fishing grounds and soiled the coastlines of four U.S. states.

Categories: Politics