The Pictures Tell The Story

As President Obama goes around the country praising the economic growth in America, there is another side of the story.

Yesterday, John Hinderaker at Power Line posted the following charts:

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The charts are taken from a booklet put out by the Republicans on the Senate Budget Committee. The booklet includes another chart which explains the low unemployment numbers that were released today–the workforce has significantly decreased. If the unemployment rate reflected the number of workers that have left the work force, the number would be considerably higher.

workforceparticipationratePlease follow the link above to the booklet to see the eleven charts that explain what is happening to the American economy and to the Middle Class in America.

The Cost Of Compromise

A budget compromise was needed by both sides–establishment Republicans and Democrats for different reasons. The Republicans did not want to be blamed for another shutdown when the Continuing Resolution (CR) expired or when the debt ceiling needed to be raised (that day is rapidly approaching and there are no guarantees that either side will  handle it well). The Democrats needs to pass a budget (for the first time in five years) to change the subject from ObamaCare. Each side had their reasons. However, it bothers me that both side were willing to throw the veterans who served our country and went to war at the request of Congress under the bus.

Yesterday the Washington Free Beacon reported that the budget compromise which has passed the House of Representatives could cost military service retirees as much as $124,000 in retirement pay.

The article reports:

The Washington Free Beacon reported that under the budget agreement crafted by House Budget Committee Chairman Paul Ryan (R., Wisc.) and Senate Budget Committee Chairman Patty Murray (D., Wash.), military retirees younger than 62 will receive 1 percentage point less in their annual cost-of-living adjustment (COLA).

While new federal employees who are hired after Jan. 1, 2014 will be required to pay 1.3 percent more of their pay into their pension plans, federal retirees will continue to receive their generous pension benefits and current employees will not be required to pay more.

Please excuse my cynicism, but note that the federal employees have unions–the military does not. Unions make very large political contributions–the military does not. This is a horrible perversion of priorities. We ask our soldiers to risk their lives, and then we cut their pensions rather than cutting the pensions of civil servants who work in safety. That is simply awful.

The article reports:

A loss of one percentage point in their COLA translates into thousands of dollars in lost retirement income.

For instance, a 42-year-old who retires as an enlisted E-7 could lose a minimum of $72,000. E-7 refers to the ranks of Sergeant First Class, Chief Petty Officer (CPO), Master Sergeant, and Gunnery Sergeant.

A 42-year old Lieutenant Colonel could lose a minimum of $109,000 over a 20-year period.

If an E-7 retires at 40, they would lose $83,000. Commissioned officers could lose much more. Lieutenant colonels and commanders (an O-5 rank) who retire at 40 would lose $124,000.

Sen. Kelly Ayotte (R., N.H.) has also come out against the deal late Thursday.

“I cannot support a budget agreement that fails to deal with the biggest drivers of our debt, but instead pays for more federal spending on the backs of our active duty and military retirees – those who have put their lives on the line to defend us,” Ayotte said in a statement.

“My hope is that both parties can work together to replace these unfair cuts that impact our men and women in uniform with more responsible savings, such as the billions that the Government Accountability Office has identified in waste, duplication and fraud across the federal government.”

It will be interesting to see if this part of the bill gets changed. If not, everyone who voted for the compromise should be voted out of office.

 

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A Chart That Tells It All

From the Weekly Standard today:

The Senate Budget Committee has stated that $1.2 trillion of the proposed $1.6 trillion in tax hikes would go toward new spending, while only $400 billion would go toward deficit reduction. We don’t need more taxes or more spending–we need to cut both taxes and spending.

President Obama has stated that ‘taxing the rich’ will solve our budget problems. Taxing the rich in order to spend more money will simply create more budget problems. Until we deal with the spending, there will be no solution.

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It Costs What ???!!!

CBN News reported today that a Senate Budget Committee study says that Obamacare will cost $2.6 trillion in the first full decade of the new law. President Obama said it would cost around $900 billion. On Wednesday, the House of Representatives voted 244-185 to repeal the Patient Protection and Affordable Care Act (Obamacare). Five Democrats voted with the Republicans for repeal. President Obama has stated that he will veto any attempt to repeal the bill.

Has there ever been a government program that did not end of costing more than it was predicted to cost?

 

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Obamacare Is Already Costing Americans A Lot Of Money

This is a chart from the Washington Free Beacon showing the financial impact of Obamacare even before it is completely put into effect:

Obamacare's $17 trillion surprise

The article reports:

Staff at the Senate Budget Committee, which calculated the figure using methods based on those used by the Centers for Medicare and Medicaid Services (CMS), found that total unfunded obligations for federal health care programs have jumped from $65 trillion in 2009 to $82 trillion in 2011.

Added to the government’s existing obligation for entitlement programs like Social Security, Medicare, and Medicaid, the total now comes to almost $100 trillion.

That is almost seven times the United States’ annual gross domestic product (GDP).

It seems to me that it is becoming very obvious that Obamacare will not save Americans any money. There are much better ways to do healthcare reform–tort reform, portability, risk pools for people with pre-existing conditions. All of these can be done without federal control. It’s time to remind the government that they govern at the consent of the governed–we are citizens–not subjects.

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Exactly Where Are Our Priorities ?

Yesterday John Hinderaker at Power LIne posted an article entitled, “If A Tree Falls In the Senate Budget Committee Hearing Room…” It was the most accurate news article I have seen in a long time.

Mr. Hinderaker points out:

…Obama’s acting OMB Director, Jeffrey Zients, appeared before the Senate and House Budget Committees to defend the budget and encountered rough sledding. Among other things, Senator Jeff Sessions asked Zients whether the president’s budget increases spending compared with current law, and Zients was unable or unwilling to answer the question. You know that Tim Geithner followed Zients to the Senate Budget Committee hearing room, and he, too, was unable to say whether Obama’s budget increases federal spending. (It does, both in comparison with current law, as represented by the Budget Control Act, and in absolute terms, by 46% from FY FY 2012 to FY 2021.) You know that the administration’s claim that its budget contains $2.50 in spending cuts for every dollar in tax increases is ridiculous. You know that, despite his confusion on other points, Geithner testified for the second year in a row that President Obama’s budget is “unsustainable.”

This needs to be shouted from the rooftops! We are headed in the direction of bankruptcy and riots in the streets. So what are we talking about–Rich Santorum and his views on birth control.

The article further reports:

I searched three leading liberal newspapers, the New York Times, the Washington Post and the Los Angeles Times: neither the New York Times nor the L.A. Times had run a single story about the Congressional hearings on the FY 2013 budget. The Post had done only slightly better; it failed to report on Zeintz’s testimony and, while it did run a short item on Geithner’s Budget Committee appearance, it failed to note either his admission that Obama’s budget is unsustainable or his inability to say whether the budget increases spending.

Americans who rely on traditional news sources have no idea what is going on. No wonder the President’s approval ratings are still good!

The lack of information getting to the voting public is a danger to the future of our country. It’s a shame that the major media does not realize that when it all collapses, they will be included in the collapse.

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This Really Doesn’t Sound Like A Plan

Hot Air posted a video today of some of the Congressional hearings on the President’s proposed budget. The clip they posted is of Paul Ryan asking United States Secretary of the Treasury Timothy Geithner what the President’s budget does to help end future deficit spending. I strongly suggest that you follow the link and watch the video.

There is a great quote in the video:

Geithner states, “We’re not coming before you today to say that we have a definitive solution to the long term problem, what we do know is we don’t like yours.”

In other words, why, no, our new budget does nothing to address America’s long-term fiscal crisis.

If our current administration is not willing to address America’s long-term fiscal crisis, let’s elect an administration that will be.

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The Truth Comes Out–Unfortunately It’s A Bit Late

John Hinderaker at Power Line reported today on testimony given by Doug Elmendorf, head of the Congressional Budget Office to the Senate Budget Committee. Senator Jeff Sessions reminded Mr. Elmendorf of the CBO’s projection, made around the time the stimulus bill was enacted, that the measure would have a negative long-term impact on economic growth. Elmendorf confirmed that this is still the view of the CBO.

The article at Power Line contains a video of the testimony. So let me get this straight–we spend $800 billion-plus dollars, the unemployment rate is still at 9 percent or more, and the spending will have a long-term negative impact on economic growth. Where do we go to get our money back?

 

 

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