Obama breaks Poverty Record. James Carville: Obama should "Panic."
President Obama already presided over the worst unemployment rate since the Great Depression, but now America's poverty rate has dramatically increased as well, reports the U.S. Census Bureau, who counted the number of Americans in poverty as the highest ever since they started tracking the number 52 years ago.
While Obama proposes job-killing tax and spend policies, the unemployment rate, national debt and number living in poverty continue to skyrocket to historical record highs. In his speech to Congress, Obama proposed to borrow and spend another $447 billion for yet another Big Government bailout paid to his corporate friends, (just like he privately pressured the Pentagon to help big Democrat donors, like Solyndra and LightSquared). Helping the unemployed find work is clearly not his priority, since Obama regulates and raises taxes on small business employers.
 Even Democrats fear Obama's poor handling of the economy. In a CNN editorial, Democrat icon James Carville said it was time for the President to "Panic" and "the time has come to demand a plan of action that requires a complete change from the direction that [Obama] is headed."
We voters told Obama to change course a year ago when we fired Nancy Pelosi as Speaker. But sadly, the Obama Administration continues to fight against 3 good bills that could really fix the economy. We must demand Congress act on these issues:
1) Fair Tax Act - H.R. 25 promotes freedom, fairness, and economic opportunity by repealing the income tax, abolishing the Internal Revenue Service, and enacting a Fair Tax, which is a national sales tax to be administered primarily by the States.
2) Cut, Cap and Balance Act - pass a Constitutional Amendment to force Congress to cut, cap and balance the federal budget every year. (Passed by House, but stalled in Harry Reid's liberal Senate.)
3) Regulation Moratorium and Jobs Preservation Act - S.1438 provides no agency may push any significant regulatory action until the unemployment rate drops to less than 7.7%.
Pass the Fair Tax
My dear friend Alan Keyes, with whom I stood as national campaign chaplain in 2008, said the IRS is a 20th century socialist tyrannical experiment in taxation, and it has failed. The income tax is now over 85 years old, and before that the federal government held no claim on our personal income or possessions. The only taxes allowed were on sales, excise, and tariffs. Economic liberty was sought by our founding fathers, as the bulwark of our political liberty. But the income tax gave the government control over us, overturning a government of the people. Politicians now have power to decide how much income we can make, turning us all into slaves of the state. As Alan Keyes says: "True economic liberty and moral revival go hand in hand."
The Fair Tax is undoubtedly the best "Jobs Bill" before Congress today. By replacing all personal and corporate taxes with a single sales tax on new items only, the bill would increase the amount money Americans have to invest, save, and spend. As the amount of investments and saving increase, banks will have a greater supply of money to lend for mortgages, and make interest rates more competitive. Americans could save faster for a new home or new car, and pay off old debts and credit cards. Increased buying power would also mean more jobs across America. With fewer punitive business taxes, American companies and jobs overseas would come back home.
The Fair Tax would apply evenly to citizens and immigrants. All taxes generated on our current total consumption of $11 trillion would generate $2.6 trillion per year, which is $400 billion more than the government currently collects. A Fair Tax can solve the deficit!
Most importantly, every individual would decide how much of their own hard earned money the government should get, based on their own consumption. Spend less money, pay less taxes! Earn more income, save as much as you wish. Since it's only a tax on new products, you could buy an old house or used car, and pay no taxes on it, making it much easier for young Americans to buy a first home or a family car, giving every American a fair chance to fulfill the American Dream. Cut, Cap and Balance the Budget
Obama plans to bully the American people out of yet another $447 billion bailout, just one month after he agreed to rein in his spending addiction. Do we trust him yet? Anyone who thinks the solution to fixing our economy is borrowing more money, is insane.
Just look at Bank of America, who received $45 billion in cash with another $97 billion if they need it. President Obama gave our money to bail out their bank, and now they're foreclosing on record numbers of Americans! According to the watch group ForeClosureRader "Bank of America appears to be primarily responsible for the surge in foreclosures" and according to CNBC defaults are up 15% nationwide, and Bank of America has increased its foreclosure rate 200% in the last few months. BOA's slogan should be "kicking hard working Americans out of their homes with the money we gave them." And BOA just announced it will cut 30,000 jobs.
The Obama Administration and his Federal Housing Finance Agency are now suing Bank of America and many other companies, from Citigroup to General Electric, for "misleading" the government over the quality of loans sold to the public debt. Bank of America has also been sued by AIG for securities fraud, for $10 billion according to AIG.
But their leaders still got $9.05 million and $14 million bonuses, proving Obama lies when he claims to be the party of the workingman and the poor. It's time to petition your congressman: No more bailouts. Our national debt is already $14.8 Trillion, exceeding our $14.4 Gross Domestic Product. DON'T INCREASE THE NATIONAL DEBT another $447 billion for more Wall Street bailouts.
Sadly Obama appointed a "SuperCongress" to frighten Senior Citizens and rob the Pentagon budget, without passing any meaningful breaks for small business.
Regulation Moratorium and Jobs Preservation Act
Questions about sustainability of the United States economy continue to plague Obama, and keep his leadership ability in constant doubt. The high unemployment rate is squarely President Obama's fault, due to over-regulation of small business: 99.7% of employers! Stocks were down last month on poor jobs reports, as if more proof were needed of President Obama's failure to create jobs. "The U.S. economy failed to add any new jobs in August caused European and Asian stock markets to sink sharply Monday," reported AP. "That jobs figure [ZERO JOBS CREATED] was far below economists' already tepid expectations for 93,000 new U.S. jobs and renewed concerns that the U.S. recovery is not only slowing but actually unwinding. U.S. hiring figures for June and July were also revised lower, only adding to the gloom."
New reports from the Department of Labor show the unemployment rate ha s nearly doubled in the first two years of President Obama's leadership. In 2008 under President Bush unemployment averaged just 5.8%, but by 2010 after two years of Obama the unemployed rate rose to 9.6%. This is second highest unemployment rate in over 60 years. In 2011 the unemployment rate is averaging 9.01%, making this the first time since the Great Depression that unemployment has held above 9% three years in a row. Obamanomics has created the worst economy in four generations.
But we have good news. Senator Jim DeMint (R-SC) has proposed a bill that would actually create jobs, called S.1438, the Regulation Moratorium and Jobs Preservation Act of 2011. According to the Small Business Association, small businesses employ 99.7% of all working Americans, and are responsible for 75% of all new jobs created. Small business is the driving force of the American economy as much today as ever.
Sen. DeMint is sponsoring a bill that calls for all Government agencies to STOP expanding regulatory compliance costs, until unemployment shrinks to 7.7%. Let's petition 100 Senators and 435 Congressmen to STOP OVER-REGULATING SMALL BUSINESSES...
The Obama Administration has been over-regulating small businesses with "fees" as a "hidden tax" that cost American business more then $1.75 trillion each year. Obama spent trillions bailing out Big Wall Street banks in 2009, has not offered so much as a penny to help the small town firm or farmer many were the hardest hit in the recession, and had to lay people off and in many cases closed their doors entirely.
Now as scary as these numbers are, they only hide the real depth of the problem. The "dirty little secret" about unemployment numbers is that they only count unemployed people actively searching for jobs. Obama does not count what economists call "discouraged workers" or "underemployed" workers with part-time jobs. A discouraged worker actively seeks employment but did not find a job in one year of searching. Some people have been out of work so long, that Obama no longer counts them as unemployed. Even if you look for a job every day, you no longer matter to the politicians, who only care about their re-election, so they fudge the unemployment numbers to make themselves look good, (despite the fact they over-regulated YOU out of a job). Another group of people the "underemployed" or over-qualified for the job they have. The medical doctor who drives a taxi because it's the only employment he can find, is not counted as unemployed. Also not counted: people who work seasonal jobs, and students who just graduated college and are still looking for their first job. When all these people are counted, The Economic Policy Institute adds at least 11 million unemployed Americans. According to the Department of Labor 9.1% equals 14 million, so if you add the missing 11 million, Obama's true unemployment rate is closer to 16%.
Stopping the White House and its agencies from bullying extra "regulatory fee" taxes out of small business owners forces them to employ less people. Obama's greed for big-government power has directly cost millions of Americans their jobs. Unlike big banks, the small business man of America is not asking for an $8 trillion government handout, rather "They want the regulators off their back, the National Labor Relations Board to stop pushing the union agenda, and try to help companies that create jobs," said Senator DeMint. Let's help put America back to work, by petitioning Congress to get off the backs of small business owners, so they can hire folks off the street.
Let's get Obama, Pelosi, and Reid off employer's back, and help get folks back to work. God Bless you, in Jesus' name, Chaplain Gordon James Klingenschmitt |
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