RTCS

Musings on the Week

Musings on the Week

October 26, 2013

 

Debt – The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. Barack Obama.

Politics – Republicans In Name Only (RINO) lack the will to fight the Democrat Party, but they are more than willing to disparage and fight conservatives in their own party.

Politics – What is frustrating to the Washington elite, both Democrat and Republican, is that the TEA Party remains proudly independent, consistently conservative, and unbribe-able.

Politics – Despite all of Obama’s “bafflegab,” the ObamaCare rollout is a policy disaster that may be unfixable and will undermine this overly-complex law from ever being implemented.

Politics – This week’s distractions from Obama’s disastrous policies are again: immigration reform including amnesty and exaggerated claims about ObamaCare success.

Politics – IRS officials are now known to have collaborated with the White House to illegally share taxpayer information, so it is now time to accuse the President of complicity.

Politics –The basis of Obama’s reputation for intellectual superiority is a myth that is composed of a toxic mixture of Democrat propaganda and Political Correct indoctrination.

Politics – Hillary Clinton is on the campaign trail making speeches accusing Republicans of all the Democrat dirty political tricks the Clinton White House perfected in the 1990s.j

Media – As new technologies emerge, I expect Twitter will go the way of telephone party

lines doomed by personal privacy issues and a lack of any viable business case.

Taxes – I will cut taxes - cut taxes - for 95% of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class. Barack Obama.

Economy – The economy continued to limp along as employers added just 148,000 jobs, but has still not recovered back to the conditions that Obama faced when he was first elected.

 

November 2008

September 2013

Change

Annual Federal Spending

$2.75T

$3.52T

+$.77T

Total National Debt

$9.99T

$17.04T

+$7.05T

Food Stamp Participation (000)

31,800

47,800

+16,000

Labor Force Participation Rate

65.9%

63.2%

-2.7%

Employed (000)

144,100

144,303

+203

Employment Population Ratio

61.4%

58.6%

-2.8%

Unemployed (000)

10,538

11,255

+717

Unemployed - 27+ wks (000)

2,219

4,146

+1,927

Average Weeks Unemployed

18.9

36.9

+18.0

Unemployment Rate (U3)

6.8%

7.2%

+0.4%

Underemployment Rate (U6)

12.6%

13.6%

+1.0%

Inflation Rate

.1%

1.5%

+1.4%

Misery Index

6.9

8.7

+1.8

Average Price/Gallon Gas

$2.21

$3.66

+$1.45

Jobs The number of Americans who are 16 years or older and who have decided not to participate in the nation’s labor force climbed to a record 90,609,000 in September.

Debt By the end of Obama’s eight years, he will have matched the borrowing of all previous Presidents combined, and does not include the $80+ trillion of unfunded liabilities.

Debt The Debt Ceiling was raised causing the next showdown to be in three months, so now we can look forward to another manufactured crisis to distract the low information voters.

Finance The Federal Reserve Quantitative Easing buys $85 billion in securities each and every month, and the unintended consequence is to shrink the economy by 2.5% each year.

Healthcare ObamaCare passed without a single Republican vote in the House or Senate, and if no Republicans voted to fund it in the House or Senate, it would have been defunded.

Healthcare When ObamaCare was passed, the original ten year cost was estimated at $900 billion, but the latest forecast is $2.6 trillion, nearly triple Obama’s original estimate.

Healthcare Health insurance premiums and insurance costs will go up for young people in all but five states (Colorado, New Jersey, New York, Ohio, and Rhode Island.

Healthcare The vast majority of people who have managed to navigate the ObamaCare sign-up process in some states have enrolled in Medicaid, not private health plans.

Housing HUD is forcing banks to eat $57 billion in bad FHA loans made mostly to “rebound borrowers” who again defaulted on their refinanced “subprime” mortgages.

Pensions Public sector pension funds, in pursuit of higher returns, shifted to riskier investments and based on false assumptions politicians allowed less than the full funding contributions.

Marriage A Canadian study found that children living with gay and lesbian families were 65% as likely to graduate compared to children living in heterosexual married homes.

Environment Democrats and liberals are in climate denial when it comes to reality on energy and climate policy, endorsing both science and political fiction.

Environment In 2012, the world reportedly “invested” $1 billion a day ($359 billion) last year to fight global warming, and delivered no measurable improvement in any climate metric.

Debt I expect that the country’s credit rating will be downgraded again when debt ceiling negotiations fail to cut spending enough to halt deficit spending.

Deficit – I expect one or more states to declare bankruptcy and seek assistance to recover from the bad economic decisions of the past under federal judicial protection.

Housing I expect that it will take four or more years at the current rate for the backlog of foreclosures to finally clear, before we see any signs of life of a robust housing recovery.

Leadership – Americans ... still believe in an America where anything's possible -- they just don't think their leaders do.Barack Obama.

GWOT Muslims worldwide continue the 1,400-year-old war to impose Islam across the world  citing the same Islamic texts and teachings, but denying this religious imperative.

Defense Military downsizing is adversely affecting defense preparedness as budget cuts necessitate training being eliminated and critical material acquisitions being delayed.

Libya – A year later after the Benghazi attack, no one has been held accountable for the order to “stand down and not attempt to provide assistance to our people under attack.

Israel I expect that Israel will be attacked by Hamas and the IDF will retaliate by invading and then re-annexing Gaza based on defensible borders and 1920 San Remo Conference.

Israel – I expect that Israel will suffer a nuclear attack from Islamist extremists, and Obama will talk a lot, but stand aside and refuse to help defend this longtime ally.

Asia – I expect that North Korea will attack South Korea and attempt to reunite Korea, and Obama will be “unable” to support our troops and will negotiate for a stalemate.

 

David Coughlin

Hawthorne, NY       

www.ReturnToCommonSensesite.com