Friday, September 21, 2012

Household Income Worst Now Than in the Great Recession



This country is going down the toilet because we have an inexperience leader in the White House. The only thing Obama know is to blame the other guy. Instead of fixing the problem, the president stares into space and wonders when he can go out golfing. The problem we face today is Obama's fault. Obama promised hope and change. Well, we all hope that the American people can change that in November. Obama must go!

WASHINGTON (CBSDC) — A new report put out by the Pew Research Center finds that the median income is worse now than it was during the Great Recession.

According to Pew, the Census Bureau showed that the median income for American households in 2009 – the official end of the Great Recession – was $52,195 (in 2011 dollars), while the median income dipped to $50,054 last year, falling 4.1 percent over two years.

“The decrease in household income from 2009 to 2011 almost exactly equaled the decrease in income in the two years of the recession,” the Pew report stated. “During the Great Recession, the median U.S. household income (in 2011 dollars) dropped from $54,489 in 2007 to $52,195 in 2009, a loss of 4.2 percent. By this yardstick, the recovery from the Great Recession is bypassing the nation’s households.”

The poverty rate rose from 12.5 percent in 2007 to 15 percent last year as the median household wealth fell by 39 percent over a three-year span, from $131,016 in 2007 to $79,431 in 2010.

Thursday, September 20, 2012

Obamacare Hits 6 Million People. Mostly Middle Class



Obamacare is a tax, which affects everybody. It will mostly affect the middle class. Thus, Obamacare will raise taxes, enforce the IRS to police who has health insurance or not, tax people making less than $250,000, and support death panels, which will wean out the old and the sick. In other words, Obama doesn't understand how this country works.

(AP) — Nearly 6 million Americans — significantly more than first estimated— will face a tax penalty under President Barack Obama's health overhaul for not getting insurance, congressional analysts said Wednesday. Most would be in the middle class.
The new estimate amounts to an inconvenient fact for the administration, a reminder of what critics see as broken promises.
The numbers from the nonpartisan Congressional Budget Office are 50 percent higher than a previous projection by the same office in 2010, shortly after the law passed. The earlier estimate found 4 million people would be affected in 2016, when the penalty is fully in effect.
That's still only a sliver of the population, given that more than 150 million people currently are covered by employer plans. Nonetheless, in his first campaign for the White House, Obama pledged not to raise taxes on individuals making less than $200,000 a year and couples making less than $250,000.
And the budget office analysis found that nearly 80 percent of those who'll face the penalty would be making up to or less than five times the federal poverty level. Currently that would work out to $55,850 or less for an individual and $115,250 or less for a family of four.
Average penalty: about $1,200 in 2016.

Wednesday, September 12, 2012

Under Obama Whites and Blacks are Even as Lower Class Group



Obama finally made more white people poorer in America. In fact, Obama balanced the white race and the black race evenly as a lower income group. Obama is destroying America. He is spreading the wealth all across the country. The only rich group is the government.

WASHINGTON (CBS WASHINGTON) – In the course of Obama’s presidency, people saying they are in the “lower classes” have risen from one-quarter to one-third of the adult population.

According to the Pew Research Center, Americans who say they are in the lower-middle or lower-class has risen from 25 percent to 32 percent in the past four years, in the national survey of 2,508 adults.

Not only has the lower class grown, but its demographic profile also has shifted. People younger than 30 are disproportionately swelling the ranks of the self-defined lower classes. The shares of Hispanics and whites who place themselves in the lower class also are growing.

Among blacks, the story is different.

The share of blacks in the lower class has not changed in four years, one of the few demographic groups in which the proportion in the lower classes did not grow. As a consequence, a virtually identical share of blacks (33%) and whites (31%) now say they are in the lower class.

Sunday, September 9, 2012

Obama Refuse to Explain how he will Cut Spending



Obama created a law that will explain how he will cut spending. Now, he is backing out. Obama has no intentions of cutting taxes. Rather, he would cripple the nation by defunding the military and businesses. Election time is right around the corner. Vote the bum out of office!

(THE HILL) The White House on Friday said it will miss the legal deadline for delivering a report to Congress on the spending cuts from sequestration that are scheduled to take effect in 2013.

Under the terms of the Sequestration Transparency Act signed in August, President Obama was to tell Congress by Friday how the administration plans to implement the $109 billion in automatic cuts mandated by the Budget Control Act.

The Office of Management and Budget has repeatedly failed to make legal deadlines. It delivered its presidential budget proposals and mid-session updates late both this year and last year.

Republicans have tried to tie the tardiness to the failure of the Senate to pass a budget resolution for the last three years.

House Speaker John Boehner (R-Ohio) said Obama needs to come clean about his plans to carry out the spending cuts.

Saturday, September 8, 2012

Democrat are Idiots Saying Obama Created 4.5 Million Jobs



It is called fuzzy math. Obama and his idiot followers learned well to cherry pick their data. 4.5 million??? LOL

(CNN) Anyone watching the Democratic National Convention on Tuesday night heard the number 4.5 million several times. "Despite incredible odds and united Republican opposition, our president took action, and now we've seen 4.5 million new jobs," San Antonio Mayor Julian Castro, the party's keynote speaker, said. The number Castro cites is an accurate description of the growth of private-sector jobs since January 2010, when the long, steep slide in employment finally hit bottom. But while a total of 4.5 million jobs sounds great, it's not the whole picture. While that is indeed a gain of 4.5 million, it's only a net gain of 300,000 over the course of the Obama administration to date. There's been a net loss of nearly 1 million public-sector jobs since Obama took office, despite a surge in temporary hiring for the 2010 census. The figure of 4.5 million jobs is accurate if you look at the most favorable period and category for the administration. But overall, there are still fewer people working now than when Obama took office at the height of the recession.