1 day, 24 hours to go…
And the biggest reason to get rid of Barack Hussein Obama…
And the biggest reason to get rid of Barack Hussein Obama…
18 days to stop the spending…
The complete list of faltering or bankrupt green-energy companies:
*Denotes companies that have filed for bankruptcy.
The problem begins with the issue of government picking winners and losers in the first place. Venture capitalist firms exist for this very reason, and they choose what to invest in by looking at companies’ business models and deciding if they are worthy. When the government plays venture capitalist, it tends to reward companies that are connected to the policymakers themselves or because it sounds nice to “invest” in green energy.
The 2009 stimulus set aside $80 billion to subsidize politically preferred energy projects. Since that time, 1,900 investigations have been opened to look into stimulus waste, fraud, and abuse (although not all are linked to the green-energy funds), and nearly 600 convictions have been made. Of that $80 billion in clean energy loans, grants, and tax credits, at least 10 percent has gone to companies that have since either gone bankrupt or are circling the drain.
42 more day and night of fight…
Obama brags that he saved General Motors, well…
Obama and his supporters have been more than happy to tout his bailout of the auto industry, but General Motors still owes taxpayers $42 billion according to an Inspector General’s report and the company’s stock has hit an all time low.
We the taxpayer ponied up over $53 dollars a share for GM stock GM hasn’t traded at $53 a share in a long, long time – in short we the taxpayer, the 53% were ripped off. Today GM is trading $24.36 nearly $30 a share less than we were forced to pay for it.
The way I see it GM owes us a lot of cars of out choice – we’ve paid for them.
But they are trying to make up for it with Obama’s failed electric car the Volt (Joke)
Now the losses could be even higher. It costs $60,000 to $75,000 to build a Volt, including development, manufacturing and raw materials, estimates Sandy Munro, president of Munro & Associates, a Troy, Mich., a company that analyzes vehicle production expenses for automakers. Much of the cost comes from an expensive combination of two power systems — electric and gasoline. With a sticker price of $40,000, minus the $10,000 the company pays in incentives, GM gets roughly $30,000 for every Volt. So it could be losing at least $30,000 per car.
61 more days of words, words, words and all the noise, noise, noise ….
This video is a little over 13 minutes long and I HIGHLY recommend you watch the entire thing and send it to your friends and liberals…
WORDS MATTER …
Personally I’ve sent this to some liberals and asked them why does their president lies?
Still waiting on a reply … not holding my breath.
75 more days to bring an end to Hype and Blame …
So I guess you heard the latest liberal gloating that Obama is the smallest spender since Jesus… Obama is all over this like a duck on a June bug.’ What’s the word politicains love to use in place of lying? Oh yeah… intellectual dishonesty.
But with everything liberal, there is a problem…
First, Nutting writes, “In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion.” This is inaccurate for two reasons: first, as Nutting notes in a separate chart, Obama was responsible for $140 billion in stimulus spending in 2009. Therefore, insinuating that the 2009 deficit was garnered entirely under President Bush’s watch is misleading.
Second, and related, Nutting fails to place blame for a number of other spending items President Obama signed into law on the President, particularly those from the $410 billion H.R. 1105, the Omnibus Appropriations Act, 2009. This Act, signed into law by President Obama on March 11, 2009, included the following:
- Five billion dollars worth of earmarks added by Members of Congress.
- A funding increase of $8.5 billion in the Labor-HHS-Education portion of the law, excluding emergency appropriations.
- A $31 billion increase in nine bills funding various federal agencies over FY 2008, astotaled by the U.S. Conference of Mayor.
All told, as noted by the Canada Free Press, the omnibus increased total spending in the relevant departments by 8% over the prior year. And while $31 billion is not a large amount of money compared to the federal budget in 2009 (it was less than one percent of spending in that year), it was 22% of the $140 billion in deficit spending Nutting credits to Obama. Nutting should still have put the blame for those increases on Obama’s shoulders – as he eventually, and rightly, did with stimulus spending.
Third, Nutting cites the Congressional Budget Office (CBO) to claim FY 2013 spending is supposed to go down by 1.3%. This is extremely misleading. In citing the CBO, Nutting is looking at the its 2012 baseline report on spending. This report looks at how current law will impact spending and the deficit. However, in the same report, CBO’s alternative fiscal scenario (what I like to call the politically realistic scenario, with explanations of the likely course Congress will take regarding specific tax and spending programs) expects certain spending reductions to be delayed by Congress. These include cuts to doctor payments in Medicare and the sequestration cuts scheduled to take place in 2013. These and other examinations of fiscal reality cause the CBO to note “deficits would average 5.4 percent of GDP over the 2013–2022 period, rather than the 1.5 percent reflected in CBO’s baseline projections.” The CBO also expects the difference in deficits between the baseline report and alternative fiscal scenario to be about two percent of GDP, or over $300 billion in 2013.
Finally, while Nutting’s thesis focuses exclusively on the time President Obama has been in office, it should be pointed out that then-Senator Obama voted for at least two big-ticket items opposed by many Republicans and signed by Bush – TARP and the auto bailouts. While not looking at these is consistent with Nutting’s thesis, it also leads the reader to forget that it takes three to tango in Washington…and by having control of the House and the Senate Senator Obama and his Democratic allies were two of those partners in spending in Fiscal Year 2009.
OK got that? Obama came into office and started spending like drunken sailor while still technically un the Bush budget and nutty nutting is trying to assign most of this new spending created by Obama to Bust and since the Democrats haven’t passed a budget since Obama took office there is really no spending budget to base anything one and factoring in baseline spending which is automatic increases to the budget these cost aren’t calculated.
It really real simple if Obama hasn’t increased the spending then why has the debt risen at it’s fastest rate in history? Answer that one libtards where did the $5,000,000,000,000.00 go?
I put as much faith in Nutting report as I do in Obama’s ability to tell the truth – none.
Oh one last note…
The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.
The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government’s books.
And Obama wants to add another government entitlement of healthcare… can you say BROKE?
More here debunking nutty Nutting…
Barack Obama: The Spending King
Claim Obama Slowed Spending Shows Democrats’ Dishonesty
With a Straight Face, Matthews Spins: It’s a ‘Fact’ That Obama Is Not a ‘Reckless Spender’
Actually, the Obama spending binge really did happen
The Truth about President Obama’s Skyrocketing Spending
Mirror, Mirror, on the Wall, Which President Is the Biggest Spender of All?
Obama Is a Spendthrift— And Here’s the Proof (sarcasm)
Gross domestic product expanded at a 2.2 percent annual rate, the Commerce Department said on Friday in its advance estimate, moderating from the fourth quarter’s 3 percent rate.
2.2% – that’s pathetic – let’s wind back the hands of time and see what Obama said the economy would grow at if we spent near a trillion in stimulus…
In August of 2009, the White House—after having a half year to view the economy and its $870 billion stimulus response—predicted that GDP would rise 4.3% in 2011, followed by 4.3% growth in 2012 and 2013, too. And 2014? Another year of 4.0% growth.
In its 2010 forecast, the White House said it was looking for 3.5% GDP growth in 2012, followed by 4.4% in 2013, 4.3% in 2014.
In its 2011 forecast, the White House predicted 3.1% growth in 2011, 4.0% in 2012 and 4.5% in 2013, 4.2% in 2014.
In its most recent forecast, the White House predicted 3.0% growth this year and next, and then back to 4.0% after that. Good luck with that.
In reality, the economy grew 1.7% in 2011.
Pssst Mitt… he has a record now use it.
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