Mr. Obama’s February budget provided the outline, but the House bill now fills in the details. To wit, tax increases that would take U.S. rates higher even than most of Europe. Yet even those increases aren’t nearly enough to finance the $1 trillion in new spending, which itself is surely a low-ball estimate. Meanwhile, the bill would create a new government health entitlement that will kill private insurance and lead to a government-run system.
Fruits of Liberal Policy
CBO: The Long-Term Budget Outlook
Measured relative to GDP, almost all of the projected growth in federal spending other than interest payments on the debt stems from the three largest entitlement programs—Medicare, Medicaid, and Social Security.
via Director’s Blog » Blog Archive » The Long-Term Budget Outlook.
Card Check – Just Good for Unions
Foreclosures at record high in first half 2009 despite aid – Yahoo! News
U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.
Foreclosure filings jumped to a record 1.9 million on more than 1.5 million properties in the first six months of the year, RealtyTrac said on Thursday.
The number of properties drawing filings, which include notices of default and auctions, jumped 9.0 percent from the second half of 2008 and almost 15 percent from the first half of last year.
“Despite everybody’s best efforts to date we’re not really making any headway against the problem,” Rick Sharga, senior vice president at RealtyTrac in Irvine, California, said in an interview.
via Foreclosures at record high in first half 2009 despite aid – Yahoo! News.
DEM HEALTH RX A POI$ON PILL IN NY – New York Post
Congressional plans to fund a massive health-care overhaul could have a job-killing effect on New York, creating a tax rate of nearly 60 percent for the state’s top earners and possibly pressuring small-business owners to shed workers.
Global warming: Our best guess is likely wrong – Nature Geoscience
“In a nutshell, theoretical models cannot explain what we observe in the geological record,” said oceanographer Gerald Dickens, a co-author of the study and professor of Earth science at Rice University. “There appears to be something fundamentally wrong with the way temperature and carbon are linked in climate models.”
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor’s Business Daily — It’s Not An Option
The healthcare (or lack thereof) must be defeated! Call your senators.
It didn’t take long to run into an “uh-oh” moment when reading the House’s “health care for all Americans” bill. Right there on Page 16 is a provision making individual private medical insurance illegal.
Democrats want to impose “surtax” to finance health care – WSJ.com
A new study by the Kaufman Foundation finds that small business entrepreneurs have led America out of its last seven post-World War II recessions. They also generate about two of every three new jobs during a recovery. The more the Obama Democrats reveal of their policies, the more it’s clear that they prize income redistribution above all else, including job creation and economic growth.
via Democrats want to impose “surtax” to finance health care – WSJ.com.
Average length of unemployment highest since 1948. – WSJ.com
The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion.
via Average length of unemployment highest since 1948. – WSJ.com.
Black-White Gap in Jobless Rate Widens in New York City – NYTimes.com
Economists said they were not certain why so many more blacks were losing their jobs in New York, especially when a large share of the layoffs in the city have been in fields where they are not well represented, like finance and professional services. But in those sectors, the economists suggested that blacks may have had less seniority when layoffs occurred. And black workers hold an outsize share of the jobs in retailing and other service industries that have been shrinking as consumers curtail their spending.
via Black-White Gap in Jobless Rate Widens in New York City – NYTimes.com.
Some simple math for Barry Little League, hurt the employers and buyers and you’ll always end up hurt the only citizens you care about, your voting handouts.
Low taxes for all is the only way, but leave alone learning in time, you’ll just never learn. 3.5 years to go before we can get some basic IQ back in office.