When It Comes To Debt The Obama Administration Has The Mindset Of Gamblers

Barack Obama

In listening to President Obama and members of his cabinet speak about the financial crisis, one walks away with the impression, they have the mindset of gamblers. So much money has been pumped into the U.S. economy during President Obama’s term, yet he alarmingly continues to spend and keeps suggesting more stimulus packages, as the solution to America’s dire financial problems.

They sound like gamblers, who keep making risky wagers, believing that next gamble is the one that’s going to put them on top and in the black, only to end up further in the red, in a financial hole that keeps deepening.

It’s time for a sensible approach to finance with a sound fiscal plan, as the Judiciary Report has advocated for years. America does not have money to burn. It’s time for certain people in Washington to stop acting like it. There is a massive difference between debt and profit. Learn it.

After two presidents in a row, Bush and Obama, exhibited poor financial acumen, making very risky economic choices, to the detriment of America and the globe, the financial world has lost confidence in Washington.

The tides are changing in the world. It is the rise of China, India and Brazil in finance, which is a positive development for the world, as it means more people advancing. If America is to remain competitive in the financial world, prudent, precise and insightful action needs to be taken now to set things aright with the economy or risk falling to the wayside. The truth hurts, but it is only in confronting it and making the necessary changes, can one improve and move forward.

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Beyonce's Dad Sues For Being Fired Over Stealing From Her

Beyonce Knowles

Matthew Knowles, the dad and former manger of singer, Beyonce Knowles, has sued Live Nation for informing the singer that he was stealing money from her. Beyonce had a lawyer investigate the matter and uncovered the theft. However, her dad is suing for wrongful dismissal.

Beyonce Knowles

Knowles is known in entertainment industry circles for his cocaine and sex parties with young prostitutes and groupies. His wife, Tina Knowles, Beyonce's mother, left him over the matter, then reunited with him a year later, calling off the divorce, after the birth of a child he had outside of their marriage with a sitcom actress, who is almost half his age.

Matthew Knowles and Tina Knowles

The Knowles family are a clan of outright thieves, who have been hit with a number of unrelated lawsuits from all over the globe, accusing them of stealing millions in cash and copyrights. Therefore, it is ironic, but to be expected that they would steal from each other. There is no such thing as honor among thieves. The Knowles family worship money and will do anything outside the law to get it, in deeds that will get them arrested one day.

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Is It Fair For Obama To Solicit $1 Billion Dollars In Campaign Donations From The Public During A Terrible Financial Crisis

Barack Obama

In view of the horrible financial crisis America is currently mired in, is it fair for President Barack Obama, to ask the public to help him meet his goal of raising an unprecedented $1 billion dollars in campaign donations, for his 2012 reelection bid. This move lacks the sensitivity, consideration, austerity and economic prudence, a president should have under the circumstances.

Americans have lost their jobs, homes and life savings. Many are suffering during the current financial depression, in trying to make ends meet and put food on the table. In light of these facts, should President Obama really be soliciting such enormous campaign donations, during a financial crisis he helped to make much worse than it was in 2008, when he was elected.

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Officials Officially Pronounce Obama's Stimulus A Massive Failure That Added Billions To The National Debt

Barack Obama

Everyone from Alan Greenspan to Barack Obama's economic committee, have pronounced the President's stimulus a catastrophic failure that wasted huge amounts of taxpayer money in the billions. Mainstream newspapers and blogs have gone into overdrive, taking the president to task for the enormous waste that has set America even further behind.

A year and a half ago, on November 13, 2009, the Judiciary Report predicted this would happen (Obama Calls For Job Summit). It is now being stated this week, it would have been cheaper for Obama to, "Cut a $100,000 check to everyone whose employment was allegedly made possible by the 'stimulus.'”

STORY SOURCE

Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

12:07 PM, Jul 3, 2011 - The stimulus is now causing the economy to shed jobs. When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.

In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead...

http://www.weeklystandard.com

Down on the Fourth of July: the United States of gloom

July 3rd, 2011 - NEWS REVIEW: America’s deepening recession and widespread pessimism about the country’s prospects add a bitter note to Independence Day, reports Toby Harnden, US Editor. Across America today, people will gather for barbecues in their backyards, parades through their towns and firework displays lighting up the night sky. They’ll be celebrating Independence Day – the birthday of the United States and the 235th anniversary of shaking off the oppressive yoke of British rule...

That’s the good news. On the flip side, however, a country whose hallmark has always been a sense of irrepressible optimism is in the grip of unprecedented uncertainty and self-doubt. With the United States mired in three foreign wars, beaten down by an economy that shows few signs of emerging from deep recession and deeply disillusioned with President Barack Obama, his Republican challengers and Congress, the mood is dark.

The last comparable Fourth of July was probably in 1980, when there was a recession, skyrocketing petrol prices and an Iranian hostage crisis, with 53 Americans being held in Tehran. Frank Luntz, perhaps America’s pre-eminent pollster, argues that his countrymen are much more downbeat now than in 1980. “The assumption with the Carter years was that it was a failure of the elites, not the system. We thought the people in charge screwed up. We didn’t blame ourselves.” Remarkably, many Americans think things will only get worse and the good times will never return.

A recent New York Times/CBS poll found that 39 per cent think that “the current economic downturn is part of a long-term permanent decline and the economy will never fully recover”. That was up from 28 per cent last October. Last month, a CNN poll found that 48 per cent of Americans believe another Great Depression is somewhat or very likely.

Luntz has found that 44 per cent of Americans believe their country’s best days are in the past, 57 per cent that their children will not achieve the same quality of life, and 53 per cent that they are less free than five years ago. So what is going on? ...

http://blogs.telegraph.co.uk

Obama Is More Preoccupied With Fundraising Than The Economy

Barack Obama

U.S. President, Barack Obama, seems to be more preoccupied with his massive fundraising drive, in a shaky bid for reelection, rather than the dire economy that needs his full attention. Obama is attempting to raise the exorbitant sum of $1 billion dollars, in deeds that seem like buying the Presidency of the United States.

While Obama's attention is turned to fundraising matters, the economy continues to decline, falling into terrible territory, signaling irreversible damage. If Obama fixed the economy, he would not have to worry about raising so much campaign funds, as that would be the best testament and tool for the 2012 election.

Furthermore, $1 billion dollars in donated campaign money, to reelect an unpopular president, is better off in the public's pocket during a terrible financial depression, the incumbent made worse with unruly spending.

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