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Archive for February 13, 2012

AP OBLITERATES OBAMA BUDGET: ‘Government Still Getting Bigger’

“aking a pass on reining in government growth, President Obama unveiled a record $3.8 trillion election-year budget plan Monday, calling for stimulus-style spending on roads and schools and tax hikes on the wealthy to help pay the costs. The ideas landed with a thud on Capitol Hill.

Though the Pentagon and a number of Cabinet agencies would get squeezed, Obama would leave the spiraling growth of health care programs for the elderly and the poor largely unchecked. The plan claims $4 trillion in deficit savings over the coming decade, but most of it would be through tax increases Republicans oppose, lower war costs already in motion and budget cuts enacted last year in a debt pact with GOP lawmakers.”

Via Fox News

White House Underestimated 2012 Deficit by $769.5B–or 138 Percent

“President Barack Obama released a budget today that estimates the federal deficit will drop to $901.4 billion in fiscal 2013, resulting in the first federal deficit of less than $1 trillion since Obama was elected in 2008. It also predicts the federal deficit will decline sharply in fiscal 2014, dropping all the way to $667.8 billion.

But the White House does not have a good record in estimating what the federal deficit will be in future years.

In February 2009, Obama submitted his first budget to Congress. It boldly predicted that the federal deficit would decrease dramatically during Obama’s term, dropping from an estimated $1.841 trillion in fiscal 2009 to $557.4 billion in fiscal 2012.

However, in the fiscal 2013 budget that Obama submitted to Congress today, the White House is predicting that the federal deficit for fiscal 2012 will not be $557.4 billion after all. Instead, the White House says, it will be $1.3269 trillion.”

Via CNS News

Great Scott

“Walker came to office in the Republican wave of 2010. He inherited a mess. Under his profligate predecessor, Jim Doyle, state government had operated almost as a slush fund for public employee unions. Giveaways to teachers and others put the state on an unsustainable fiscal path, so Doyle raised some taxes and threatened to raise others. He raided a state fund set up to cover medical liability, essentially stealing contributions doctors had made to the pooled account. The Wisconsin Supreme Court ruled against that pilfering, but the money had already been spent. Even after budget gimmickry that would make Fannie and Freddie blush, the official deficit was $3.6 billion.”

“Just over a year later, Walker and the Republicans in the state legislature have nearly eliminated the deficit. For the two-year budget cycle, the state will show a $143 million shortfall because the stagnant economy has resulted in lower tax receipts than had been projected. But the shortfall is for the first half of the cycle; Wisconsin will run a surplus in the current fiscal year. And Walker said last week that he will eliminate the remaining shortfall without raising taxes. It’s a credible claim. He reduced the deficit without raising taxes. In fact, one of his first moves upon being sworn in was to cut taxes on businesses. His subsequent reforms have allowed property tax receipts to go down for the first time in years—by some $47 million.”

Via The Weekly Standard

Keiser Report: FBI vs Gold Standard Extremists

Facing Authoritarianism In Our Daily Lives

“The summer I turned 16 I worked at the restaurant at the local marina washing dishes. It was a good job for someone on the edge of sixteen. The hours were good, day shift mostly, which left plenty of time for my chores at home and time in the evenings with friends. The restaurant was less than a half-mile walk from my parent’s home and I didn’t need to depend on anyone to get there and back. The best part was that one of my girlfriends worked there, washing dishes too.

My girlfriend’s older brother had helped us get the jobs and looked after us. Both of us got on well with the rest of the kitchen staff, most of whom were many years older than us, and mostly male. In polite sweetness, they called us the “dishwashing dolls”, but I still haven’t figured out what was so cute about them shoving stacks of dirty plates our way and an endless stream of pots and pans at the end of the shift. Still, we all worked well together and the job was enjoyable, if dirty.

All of that changed when a new kitchen manager was hired. We were all required to attend an after-hours meeting where he and his new, authoritarian methods were introduced. The changes didn’t mean much to me. I was only a dishwasher after all. How could the changes on the cooking line affect me?”

Via Alt Market

DARPA Set to Drop Computer “F-Bombs” to Spy on Public

“It’s bad enough that drones have been welcomed by Congress into American skies, as well as already being used around the planet to conduct surveillance and bomb select countries from remote locations.

The latest proposed addition to the drone spy program is even creepier: disposable computers with software programs funded by DARPA to be dropped as self-destructing “bombs.”

Now, not only will drones surveil and hack from above, but they will drop a payload to interface with hidden computers on the ground, completely integrating a full-spectrum data transmission and control grid.

The name of the project, as well as its announcement at a hacker convention called ShmooCon, had this non-techie convinced that it had to be satire or a hoax, but the project has also been noted by Forbes and Wired, which only serves to illustrate how far off into our dystopian technocratic police state we have wandered. It seems that we are being acclimated to how funny and cool our futuristic spy toys have become. This fun has culminated in the planned dropping of F-BOMBS (Falling or Ballistically-launched Object that Makes Backdoors) to combat “Bad Men With Guns.”

Via Activist Post

Recovery Ending Event: Big Oil Insider Warns of $5 Gas This Year

“U.S. consumers may be able to ignore continued warnings about economic and political instability by avoiding the news and burying their heads in the sand when water cooler conversations pop up, but what they will not be able to ignore is paying $40 more every time they pump gas into their minivans.

According to oil industry insider and former Shell CEO John Hoffmeister, that’s exactly what we can expect this year.

In an interview with CNBC, Hoffmeister warned that the price of oil will continue to rise amid increasing global demand from emerging economies, tensions in the middle east, and a weakening dollar, causing the price of gas to jump to $5 per gallon before the end of this year:”

Via SHTF Plan

Categories: Uncategorized

Why Are Record Numbers Of Young Adults Jobless And Living At Home With Mom And Dad?

“In the United States today, unemployment among those age 18 to age 34 is at epidemic levels and the number of young adults that are now living at home with Mom and Dad is at an all-time high. So why are so many of our young adults jobless? Why are record numbers of them unable or unwilling to move out on their own? Well, there are quite a few factors at work. Number one, our education system has completely and totally failed them. As I have written about previously, our education system is a joke and most high school graduates these days are simply not prepared to function at even a very basic level in our society. In addition, college education in the United States has become a giant money making scam that leaves scores of college graduates absolutely drowning in debt. Many young adults end up moving back in with Mom and Dad because they are drowning in so much debt that there are no other options. Thirdly, the number of good jobs continues to decline and this is hitting younger Americans the hardest. Millions of young people enter the workforce excited about the future only to find that there are hordes of applicants for the very limited number of decent jobs that are actually available. So all of this is creating an environment where more young adults are financially dependent on their parents that ever before in modern American history.”

Via The Economic Collapse Blog

Categories: Unemployment

Obama Proposes Massive Tax Hikes, Still Comes Up With $1.33 Trillion Deficit; Obama’s “Race to the Bottom” Education Proposal; Dysfunctional Congress

“President Obama made a pledge to cut the deficit in half by the end of his first term. Instead it exceeded a trillion dollars for four straight years.

Indeed, the president could not even make a pledge made in September to reduce the deficit to $956 billion. Finally, just to keep the deficit at $1.33 Trillion, look at the tax hikes Obama proposes.

Details below summarized from the Bloomberg article Obama Sends $3.8T Budget to Congress”

Via MISH’S Global Economic Trend Analysis

Obama judicial appointee says we have right to keep arms, but not to bear them

“When Wayne LaPierre, executive vice president of the National Rifle Association (NRA), spoke at CPAC on February 10th, he predicted that if Barack Obama wins a second term it will usher in an all-out attack on the Second Amendment. In so many words, he said the same people who brought us Fast and Furious, “a criminal enterprise” for which there has yet to be prosecutions, will use four more years to gut constitutional protections on the right to keep and bear arms. And anyone who wonders what this assault on the Second Amendment might look like need look no further than Illinois, where a judge that President Obama appointed has just ruled that we have the right to keep arms, but not to bear them.

That’s not a typo. Rather, it’s an unbelievable decision recently delivered by U.S. Judge Sue Myerscough, in a challenge which the Second Amendment Foundation filed against Illinois’s ongoing prohibition against carrying concealed weapons in that state. Said Myerscough, in rendering her decision: “[Although the] plaintiffs argue that the Second Amendment protects a general right to carry guns that include a right to carry operable guns in public … [the] Supreme Court has not recognized a right to bear firearms outside the home.””

Via Daily Caller

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