Tuesday, January 31, 2012

Barker's Newsbites: Tuesday, January 31, 2012


The actual "newsbites" can be found within the comments page of this post.
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4 comments:

William R. Barker said...

http://www.politico.com/news/stories/0112/72205.html

The government faces a fourth year of trillion-plus deficits in 2012, according to new projections released Tuesday—numbers which also show little relief in the future unless Washington comes to grips with needed changes in its tax and spending policies.

* FOLKS... RECALL: DEMOCRATS TOOK OVER THE HOUSE AND SENATE IN JANUARY 2007. INDEED, HARRY REID AND THE DEMS STILL CONTROL THE SENATE TO THIS DAY! PRESIDENT OBAMA WAS SWORN INTO OFFICE IN JANUARY OR 2009!

* YES... MANY, MANY, MANY REPUBLICANS SUCK... BUT NO ONE WITH AN HONEST BONE IN HIS (OR HER) BODY CAN POSSIBLY FAIL TO PLACE THE BLAME FOR THE EXPLOSION OF DEFICITS AND DEBT WHERE IT CLEARLY LAYS!

The $1.079 trillion deficit now projected for this fiscal year ending Sept. 30 is actually worse than what CBO had predicted in August.

* REMEMBER THIS NEXT TIME OBAMA CLAIMS THAT "THE NON-PARTISAN CBO" BUTTRESSES HIS LIES.

(*JUST SHAKING MY HEAD IN DISGUST*)

"The federal budget remains out of balance throughout the decade,” the CBO report reads. “The resulting accumulation of debt, along with rising interest rates, drives up the cost of financing that debt; in CBO’s projections, net interest costs grow significantly from 1.4% of GDP this year to 2.5% in 2022.

* JEEZUS, PEOPLE... HOW FUCKING IGNORANT - AND MASOCHISTIC - DO YOU HAVE TO BE TO STILL SUPPORT BARAK HUSSEIN OBAMA...?!?!

January 31, 2012 at 11:19 AM
William R. Barker said...

http://www.humanevents.com/article.php?id=49191

At the end of Sunday mass at the church this writer [Pat Buchanan] attends in Washington, D.C., the pastor asked the congregation to remain for a few minutes.

Then, on the instructions of Cardinal Archbishop Donald Wuerl, the pastor proceeded to read a letter.

In the letter, the Church denounced the Obama administration for ordering all Catholic schools, hospitals and social services to provide, in their health insurance coverage for employes, free contraceptives, free sterilizations and free "morning-after" pills.

In forcing the Church to violate its own principles, Obama has committed an act of federal aggression, crossing the line between church and state to appease his ACLU and feminist allies...

(*NOD*)

Obama's problem today is that not only is he forcing the Church to violate her conscience, he dissed the highest prelate in America.

In November, New York Archbishop Timothy Dolan, president of the U.S. Conference of Catholic Bishops, held what he describes as an "extraordinarily friendly" meeting with Obama at the White House.

The president assured the archbishop of his respect for the Church, and the archbishop came away persuaded Obama would never force the Church to adopt any policy that would violate her principles.

Ten days ago, Obama sandbagged the archbishop

He informed Cardinal-designate Dolan by phone that, with the sole concession of the Church being given an extra year, to August 2013, to comply, the new policy, as set down by Health and Human Services Secretary Kathleen Sebelius, will be imposed. All social and educational institutions of the Catholic church will offer health insurance covering birth control, or face fines.

"In effect, the president is saying we have a year to figure out how to violate our consciences," said Archbishop Dolan, who went on:

"To force American citizens to choose between violating their consciences and forgoing their health care is literally unconscionable. ... This represents a challenge and a compromise of our religious liberty."

NARAL Pro-Choice America is celebrating the new policy. Planned Parenthood's president, Cecile Richards, calls it a "health care issue ... based on what's best for women's health." Others have argued that many Catholic women practice birth control.

But that Catholics choose to ignore doctrine does not justify the U.S. government imposing on Catholic institutions a policy that violates Catholic teaching.

Even Washington Post liberal E.J. Dionne, in a Jan. 30 column titled "Obama's Breach of Faith," charges that the president "threw his progressive Catholic allies under the bus. ... Speaking as an American liberal who believes that religious pluralism imposes certain obligations on government ... the Church's leaders had a right to ask for broader relief from a contraception mandate that would require it to act against its own teachings."

* CONSTITUTIONAL LAW LECTURER, HUH...? PRESIDENT OF THE LAW REVIEW, HUH...?

* FOLKS... OBAMA DOESN'T GIVE TWO SHITS ABOUT THE CONSTITUTION OR THE RULE OF LAW. IT'S THAT FRIGG'N SIMPLE.

Not only should the bishops file suit in federal court against the president and Sebelius for violation of the constitutional principle of separation of church and state, they should inform the White House that no bishop will give an invocation at the Democratic Convention.

Then, they should inform the White House that in the last two weeks of the 2012 campaign, priests in every parish will read from the pulpit at Sunday mass a letter denouncing Obama as anti-Catholic for denying the Church its right to live according to its beliefs.

January 31, 2012 at 11:47 AM
William R. Barker said...

http://www.zerohedge.com/news/latest-congressional-budget-outlook-2012-2022-released

* FROM THE LATEST CBO REPORT:

Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 1.25 percentage points higher than the actual rate of 8.7%.

[T]ranslation: CBO just admitted that the BLS numbers are bogus and real unemployment is 10%. Thank you.

(*SHRUG*)

The unemployment rate would be even higher than it is now had participation in the labor force not declined as much as it has over the past few years.

The rate of participation in the labor force fell from 66% in 2007 to an average of 64% in the second half of 2011, an unusually large decline over so short a time.

About a third of that decline reflects factors other than the downturn, such as the aging of the baby-boom generation. But even with those factors removed, the estimated decline in that rate during the past four years is larger than has been typical of past downturns, even after accounting for the greater severity of this downturn.

By CBO’s estimates, the rate of labor force participation will fall to slightly above 63 percent by 2017.

The dampening effects of the increase in tax rates in 2013 scheduled under current law and additional retirements by baby boomers are projected to more than offset the strengthening effects of growing demand for labor as the economy recovers further.

* FOLKS... AFTER YOU GO AND POUR YOURSELF A STIFF DRINK... READ THE REST OF THE ZERO HEDGE ANALYSIS OF THE CBO REPORT. IT'S BRUTAL. OBAMA AND HIS POLICIES ARE LITERALLY DESTROYING THE AMERICAN ECONOMY.

January 31, 2012 at 3:39 PM
William R. Barker said...

http://cnsnews.com/news/article/cbo-taxes-will-shoot-more-30-percent-over-next-2-years

The amount of money the federal government takes out of the U.S. economy in taxes will increase by more than 30% between 2012 and 2014, according to the Budget and Economic Outlook published today by the CBO.

At the same time, according to CBO, the economy will remain sluggish, partly because of higher taxes.

“In particular, between 2012 and 2014, revenues in CBO’s baseline shoot up by more than 30%,” said CBO, “mostly because of the recent or scheduled expirations of tax provisions, such as those that lower income tax rates and limit the reach of the alternative minimum tax (AMT), and the imposition of new taxes, fees, and penalties that are scheduled to go into effect.”

The U.S. economy, CBO projects, will perform “below its potential” for another six years and unemployment will remain above 7% for another three.

* AND THIS IS THE FRIGG'N ROSY SCENARIO, FOLKS!

According to the CBO report, federal tax revenues equaled $2.302 trillion in fiscal 2011, and will increase to $2,523 trillion in fiscal 2012, $2,988 trillion in fiscal in 2013, and $3,313 trillion in 2014.

* AND YET... TRILLION DOLLAR DEFICITS AS FAR AS THE EYE CAN SEE.

As a percentage of GDP, according to CBO, federal tax revenues were 15.4% in fiscal 2011, and will be 16.3% in 2012, 18.8% in 2013, and 20.0% in fiscal 2014.

* AND YET... IT'S NEVER ENOUGH.

(*SIGH*)

In dollar terms, the anticipated increase in federal tax revenue from fiscal 2011 ($2.302 trillion) to fiscal 2014 ($3.313 trillion) is $1.011 trillion. That is an increase of 43.9%.

From just 2012 to 2014, the increase in federal tax revenues from $2.523 trillion to $3.313 trillion equals $790 billion — or 31.3%.

The anticipated percentage increase in federal tax revenue is not only large when calculated in dollar terms but also when calculated as a share of GDP. The jump from 15.4% of GDP in fiscal 2011 to 20% of GDP in fiscal 2014 equals an increase of 29.8%.

The jump from 16.3% in fiscal 2012 to 20% in fiscal 2014 equals an increase over two years of 22.7%.

* FOLKS... I KNOW THE STATS GET TEDIOUS... BUT THE BOTTOM LINE IS THAT THE FEDERAL GOVERNMENT IS OUT OF CONTROL!

Federal tax revenues have averaged “about 18% of GDP for the past 40 years,” according to CBO. So, in the next two years federal tax revenues will rise from a level that is below the modern historical average to a level that is above it.

* AND STILL... THEY'LL SPEND MORE THAN THEY TAKE IN.

* PEOPLE... PLEASE... I'M BEGGING YOU...

* PAY ATTENTION...!!!

January 31, 2012 at 3:50 PM

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