100 Days: The Obama Presidency

[WRL]

We've hit the proverbial first milestone in the Obama Presidency, 100 days. I've complied a bit of information on the Presidents policies and how successful he's been. Most of this will focus on economics as this is the number one concern of Americans right now.

U.S. Economy: Unemployment Rate Reaches 25-Year High

The U.S. unemployment rate jumped in March to the highest level since 1983 and service industries shrank at a faster pace, indicating the economy remains trapped in what’s likely to be the longest recession since the 1930s.

http://www.bloomberg.com/apps/news?pid=20601087&sid=amufTZ_b7O40&refer=home


Mass Layoffs

April 23, 2009
In March, employers took 2,933 mass layoff actions involving 299,388 workers, the highest levels on record.

http://www.bls.gov/news.release/mmls.nr0.htm


Obama to raise taxes during recession

The last time this was done was by Herbert Hover, and it lead to the Great Depression. Here is a list of the Obama tax hikes.

$338 billion - Bush tax cuts expire
$179 billlion - eliminate itemized deduction
$118 billion - capital gains tax hike
$17 billion - Reinstate Superfund taxes
$24 billion - tax carried-interest as income
$5 billion - codify "economic substance doctrine"
$61 billion - repeal LIFO
$210 billion - international enforcement, reform deferral, other tax reform
$4 billion - information reporting for rental payments
$5.3 billion - excise tax on Gulf of Mexico oil and gas
$3.4 billion - repeal expensing of tangible drilling costs
$62 million - repeal deduction for tertiary injectants
$49 million - repeal passive loss exception for working interests in oil and natural gas properties
$13 billion - repeal manufacturing tax deduction for oil and natural gas companies
$1 billion - increase to 7 years geological and geophysical amortization period for independent producers
$882 million - eliminate advanced earned income tax credit


With all those tax hikes we still see...


Obama budget calls for record US deficit

United States President Barack Obama unveiled his administration's 2010 United States federal budget on Thursday. The budget calls for a record US$3.6 trillion in spending.


The new budget will use a $1.75 trillion deficit, which would be nearly four times greater than any previous deficit and is $250 billion larger than what was projected just days ago due to a proposed new spending for another bank bailout.

http://en.wikinews.org/wiki/Obama_budget_calls_for_record_US_deficit


So to help pay for all this massive spending...


US Treasury in plans for record debt sale

The US Treasury on Wednesday opened the floodgates of government bond issuance, revealing plans for a record debt sale in February and more frequent auctions in the months to come.

The announcement came amid growing fears about US government deficits and sent the yield on the benchmark 10-year Treasury note rising to 2.95 per cent, up from just over 2 per cent at the end of December.

The rise in Treasury yields has been pushing mortgage rates higher, complicating efforts to revive the economy. The US Federal Reserve said last week it was “prepared to” buy Treasuries if that would be a “particularly effective” way of reducing private borrowing costs.

“The Fed has to be troubled by the fact that mortgage rates have been rising and the buying of Treasuries by the Fed may come sooner than the market expects,” said William O’Donnell, UBS strategist.

http://www.freerepublic.com/focus/f-news/2178985/posts


Only the largest buyer of US debt is starting to balk at Obama's fiscal ineptness...


China 'worried' about US Treasury holdings

BEIJING (AP) - China's premier expressed concern Friday about its holdings of Treasuries and other U.S. debt, appealing to Washington to safeguard their value, and said Beijing is ready to expand its stimulus if economic conditions worsen.

Premier Wen Jiabao noted that Beijing is the biggest foreign creditor to the United States and called on Washington to see that its response to the global slowdown does not damage the value of Chinese holdings.

"We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried," Wen said at a news conference following the closing of China's annual legislative session. "I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets."

Analysts estimate that nearly half of China's $2 trillion in currency reserves are in U.S. Treasuries and notes issued by other government-affiliated agencies.

Washington is counting on China to continue buying Treasuries to fund its massive stimulus package. Last month, visiting Secretary of State Hillary Rodham Clinton sought to reassure Beijing that government debt would remain a reliable investment.

http://www.breitbart.com/article.php?id=D96T2TT81&show_article=1



And this chart shows the astronomical rate with which we are now printing money, the last time this was done was in the Weimar Republic, and we are surpassing that ten fold. Please make notice of the gigantic spike at the end.

And here we go with the obvious result of such fiscal ineptness...



Dollar Declines Most Since 1985

The dollar dropped the most against the currencies of six major U.S. trading partners since the Plaza Accord almost a quarter-century ago as the Federal Reserve’s plan to purchase Treasuries spurred speculation that it’s debasing the greenback.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aNdu22y30zwc&refer=worldwide#


Cap-and-trade program would raise electricity prices


Posted: Apr. 1, 2009

Proposed federal efforts to reduce greenhouse gas emissions through "cap-and-trade" programs would raise electricity prices for Wisconsin customers, a group of Midwestern utilities said Wednesday.

Under one scenario, rates could jump by as much as 63% from 2012 to 2030...

President Barack Obama and Democratic lawmakers advocate cap-and-trade, while some Republicans have denounced it as leading to sharply higher energy prices.

http://www.jsonline.com/business/42281387.html


So who still supports Obama's policies? Higher taxes, Higher electric bills, massive record deficits, begging foreign nations to finance our deficit spending, a spiraling dollar. Granted he ran an inspiring campaign that gave people hope, however his actual governance is going to cause serious, detrimental long term damage to this country. So who's still in Obama honeymoon mode, and who's looking clearly at the policies? If you support President Obama, then why? What is it about his policies you support? If you don't and I've missed something, speak up, if you have something to add, speak up!

 

[Norman Paperman]

3... 2... 1...

 

[belme1201]

Now that you've "complied" a rundown of the inherited bush legacy, maybe you would like to explain the level of Obama's popularity, both his job approval as President, and personally after the first 100 days. Also, don't forget twice as many Americans now feel we're on the right track as compared to the incompetent days of the bush gang. Don't you think the possibility may be that all the anti-Obama vitriol from the hate machine is burying the RW naysayers? His popularity matches and in some instances exceeds that of the revered R. Reagan after his first 100 days! As much as you and yours would love for him to fail it ain't gonna happen and it must be killing you.

 

[Beefy]

The new budget will use a $1.75 trillion deficit, which would be nearly four times greater than any previous deficit and is $250 billion larger than what was projected just days ago due to a proposed new spending for another bank bailout.!

Hello Larry.

You know this is bullshit right? I don't support Obama's fiscal shit by any means, but his deficit is really only $250 billion higher than W's.

You see, your beloved W didn't include the cost of his wars, or his $700,000,000,000 stimulus package in his "budget".

So while W and Obama are both spendthrift douchebags, only one of them is honest about it.

So take your bullshit about deficits somewhere else.

Its amazing to me that you're willing to turn a blind eye to trillions and trillions of dollars of off the books spending by your God, W, and then feign outrage when a democrat does the EXACT SAME THING, except, is honest about it.

Stop pretending to care. Its pathetic.

 

[WRL]

Now that you've "complied" a rundown of the inherited bush legacy, maybe you would like to explain the level of Obama's popularity, both his job approval as President, and personally after the first 100 days. Also, don't forget twice as many Americans now feel we're on the right track as compared to the incompetent days of the bush gang. Don't you think the possibility may be that all the anti-Obama vitriol from the hate machine is burying the RW naysayers? His popularity matches and in some instances exceeds that of the revered R. Reagan after his first 100 days! As much as you and yours would love for him to fail it ain't gonna happen and it must be killing you.

Obama's still enjoying his honeymoon period, most voters haven't taken a close look yet, and those that are, well just look at the latest generic congressional ballot poll from Rasmussen, the GOP leads 41 to 38. Once more American's start to pay attention, they'll also see the largest one year deficit in US history, one of the largest tax hikes in US history, a massive expansion of the federal government, a massive increase in their electric bills, an economic system that cannot sustain itself, yet being pushed harder and harder, hopfully more and more people wake up to what's happening before we go over that cliff of no return.

Oh, and on Obama's great approval ratings...
Partisan Gap in Obama Job Approval Widest in Modern Era

For all of his hopes about bipartisanship, Barack Obama has the most polarized early job approval ratings of any president in the past four decades. The 61-point partisan gap in opinions about Obama's job performance is the result of a combination of high Democratic ratings for the president -- 88% job approval among Democrats -- and relatively low approval ratings among Republicans (27%).

http://pewresearch.org/pubs/1178/polarized-partisan-gap-in-obama-approval-historic

 

[FUCK THE POLICE]

LOL

Obama's approval ratings are WAYYY higher than bushes.

 

[WRL]

Hello Larry.

You know this is bullshit right? I don't support Obama's fiscal shit by any means, but his deficit is really only $250 billion higher than W's.

You see, your beloved W didn't include the cost of his wars, or his $700,000,000,000 stimulus package in his "budget".

So while W and Obama are both spendthrift douchebags, only one of them is honest about it.

So take your bullshit about deficits somewhere else.

Its amazing to me that you're willing to turn a blind eye to trillions and trillions of dollars of off the books spending by your God, W, and then feign outrage when a democrat does the EXACT SAME THING, except, is honest about it.

Stop pretending to care. Its pathetic.

Hello. How have you been doing?

The war cost 1 trillion over what 5 years, Obama's surpassed that in what 100 days, you're damn right I'm going to call it out. Also I did criticize Bush on spending, but come on, Obama's making Bush's spending look like child's play. Not to justify it in any way, but this is insane. The TARP bailout I never supported, neither did most of the GOP, the only way it passed was with majority Democratic support. Bush lost a lot in my view when he pushed it so hard. It was a bad idea then, and it's an even worse idea now, not to mention Obama got to spend half of the first TARP funds.

Also, how do you figure Obama's first deficit of 1.7 trillion is only 250 billion more than Bush's? I am by no means 'feigning' outrage here, Obama and his Democratic allies are pushing through a massive, burdening, reorganization of the government towards left wing agenda's no matter the cost, they are pushing it so hard and so fast, before Congress can change hands, it's a purely political move, timed on politics, and going to either bankrupt this country or burden my child's, children.

 

[WRL]

LOL

Obama's approval ratings are WAYYY higher than bushes.

Obama's job approval rating comes in at 62 percent, down just three points from the 65 percent

The president's approval is nearly identical to the job rating George W. Bush received at the same point in his first term, as 63 percent of Americans approved and 22 percent disapproved (April 18-19, 2001). One noticeable difference is that approval of Obama is much more divided along partisan lines today than Bush's ratings were eight years ago.

http://www.foxnews.com/story/0,2933,517802,00.html


just saying, there is traditionally a 'honeymoon' period for most Presidents. Obama's fairing no better than the average.

 

[Beefy]

Good to see you back here Larry.

Bush's last on the books "deficit" was $455 Billion. The wars were roughly another $340 billion. His TARP was another $700 billion. Add em all up and you're at a deficit of $1.5 trillion dollars.

Now, what really gets me, what boils my blood, is that now, finally after 8 years of reckless total fiscal expansion and unprecedented government growth under the Republicans, NOW, you "fiscal conservatives" (LOL) are coming out of the woodwork crying that government is too big. This AFTER YOU CHEERLED the expansion for the last 8 years that now acts as the launching pad for the DEMOCRATS!

Republicrats. Demopublicans. You're all the same to me. You only bitch about things when the other team is in power, but you're all on the same road to hell.

 

[WRL]

Good to see you back here Larry.

Bush's last on the books "deficit" was $455 Billion. The wars were roughly another $340 billion. His TARP was another $700 billion. Add em all up and you're at a deficit of $1.5 trillion dollars.

Now, what really gets me, what boils my blood, is that now, finally after 8 years of reckless total fiscal expansion and unprecedented government growth under the Republicans, NOW, you "fiscal conservatives" (LOL) are coming out of the woodwork crying that government is too big. This AFTER YOU CHEERLED the expansion for the last 8 years that now acts as the launching pad for the DEMOCRATS!

Republicrats. Demopublicans. You're all the same to me. You only bitch about things when the other team is in power, but you're all on the same road to hell.

Only half the TARP funds where spent while Bush was in office, and as I said, I couldn't have opposed it harder.

_______________________________________________________________________________________

Congress is now considering President Bush’s request for an additional $145 billion to pay for the wars in Iraq and Afghanistan through September 30, 2008.

http://vcnv.org/iraq-and-afghanistan-supplemental-spending-2008
________________________________________________________________________________________

While Mr. Bush had hoped to preside over a shrinking of the federal deficit in his final year in office, the budget projects that the deficit, which dropped substantially from 2004 to 2007, will go up again, to $410 billion in 2008 from $162 billion last year. That would approach the record set in 2004, when the deficit hit $413 billion.

The growing deficit is primarily, but not entirely, due to the economic stimulus package of tax rebates being developed on Capitol Hill. Even so, Mr. Bush says his proposal puts the nation on track for a balanced budget by 2012.

http://www.nytimes.com/2008/02/05/washington/05budget.html?ref=science

 

[Beefy]

It doesn't matter when it was spent Larry. It was money that was put into play.

Okay, maybe the cost of the wars was $140B less. It still makes W's deficit $1.3 TRILLION. Not $455 billion. And it makes a $1.3TRILLION deficit the base for the next, inevitable administration.

Imagine if W had really been a fiscal conservative, and grew the budget only with inflation from the Clinton years. We'd be running a surplus, but no. He was able to run thes enormous deficits because of your cheerleading.

And the fiscal problems of the US are not due to the latest douchbag's first 100 days. He still has plenty of time to fuck up on his own, and I promise you he will. But the current mes is still your mess, not his. A spade is a spade, whether it wears a donkey's tail or elephant ears. I just wish you'd be honest about it.

 

[WRL]

President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. The Washington Post has a great graphic which helps put President Obama’s budget deficits in context of President Bush’s.
What’s driving Obama’s unprecedented massive deficits? Spending

http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/


Now Bush spent to much, yes, on many programs I didn't support, however Obama is surpassing that by 4x's as much in 100 days, and they have no plans to tighten spending, if they push Obama's health care initiative this year, there's another 600 billion, which won't even come close to scratching the surface on his actual plan. We're looking at a 1.7 trillion dollar deficit this year alone, and that's if they don't spend one more cent, it's only April. Now we have this swine flu epidemic, and I'm sure Obama's response will be to throw around billions more.

 

[Beefy]

Quadruple the deficit. I guess you'll only see what you want to see.

Obama's finances are a mess. And they couldn't have nearly been this bad, nearly this bad without a little help from the big government republicans.

Congratulations Larry.

 

[WRL]

Quadruple the deficit. I guess you'll only see what you want to see.

Obama's finances are a mess. And they couldn't have nearly been this bad, nearly this bad without a little help from the big government republicans.

Congratulations Larry.

Hey if we want to talk about the 'true' deficit then...

[FONT=Palatino, Georgia, Times New Roman, Times, serif][SIZE=+2]Federal obligations exceed world GDP[/SIZE][/FONT]

[FONT=Palatino, Georgia, Times New Roman, Times, serif][SIZE=+1]Does $65.5 trillion terrify anyone yet?[/SIZE][/FONT]

As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.

The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.



http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851

 

[Beefy]

Hey if we want to talk about the 'true' deficit then...

[FONT=Palatino, Georgia, Times New Roman, Times, serif][SIZE=+2]Federal obligations exceed world GDP[/SIZE][/FONT]

[FONT=Palatino, Georgia, Times New Roman, Times, serif][SIZE=+1]Does $65.5 trillion terrify anyone yet?[/SIZE][/FONT]

As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.

The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.



http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851

Yes I'm aware of this. Guess where it was before 8 years of Republican rule. Or is it your assertion that in 100 days Obama made $65 trillion in commitments?

If the Republicans sauteed a baby on live TV, would that bother you?

 

[WRL]

Yes I'm aware of this. Guess where it was before 8 years of Republican rule. Or is it your assertion that in 100 days Obama made $65 trillion in commitments?

If the Republicans sauteed a baby on live TV, would that bother you?

All I've been quoting here are the facts, statistics, what's up with this comment?

I mean I don't know how else to say this, I opposed the pill bill, I opposed the TARP funds, as staunchly as I could, so hang them around my neck if you wish, I didn't support them.

 

[Beefy]

All I've been quoting here are the facts, statistics, what's up with this comment?

I mean I don't know how else to say this, I opposed the pill bill, I opposed the TARP funds, as staunchly as I could, so hang them around my neck if you wish, I didn't support them.

Accountability William. This mess is not Obama's fault. Yet. There will be plenty of time for him to mess up. This mess, right now, is your fault.

 

[Dixie - In Memoriam]

but his deficit is really only $250 billion higher than W's

Boy, this is really lame, even for Beefhead!

Do you understand or comprehend, in any realistic way, how much $250 billion is?
Do you understand or comprehend, we are over $10 trillion in the red already?
Do you understand or comprehend, Bush was not fiscally conservative?

...but his deficit is really only $250 billion higher than W's
Translation: ....but Obama is only spending another quarter trillion per year we don't have!


MORONS!

 

[FUCK THE POLICE]

Obama's job approval rating comes in at 62 percent, down just three points from the 65 percent

The president's approval is nearly identical to the job rating George W. Bush received at the same point in his first term, as 63 percent of Americans approved and 22 percent disapproved (April 18-19, 2001). One noticeable difference is that approval of Obama is much more divided along partisan lines today than Bush's ratings were eight years ago.

http://www.foxnews.com/story/0,2933,517802,00.html


just saying, there is traditionally a 'honeymoon' period for most Presidents. Obama's fairing no better than the average.

Bush tied for the lowest approval of all time and had the highest disapproval of all time.

 

[Beefy]

Boy, this is really lame, even for Beefhead!

Do you understand or comprehend, in any realistic way, how much $250 billion is?
Do you understand or comprehend, we are over $10 trillion in the red already?
Do you understand or comprehend, Bush was not fiscally conservative?

...but his deficit is really only $250 billion higher than W's[/B
Translation: ....but Obama is only spending another quarter trillion per year we don't have!


MORONS!

Yes Dixie. I understand how much money that is, and it pisses me off to high heaven. Its idiots like you and your ilk who wish to disregard 1 TRILLION in Bush's spending due to your partisan hackery that I'm pointing out.

Numb nut. Never stopped to think that until Obama, Bush was the most liberal spender of all time.

Stop pretending to care you jackass. You loved the spending for all those years and guess what/ You get more of the same. Your crying now is meaningless. You caused this.