Just days after Vice President Joe Biden told George Stephanopoulos that it was “premature” to push for another “stimulus” spending bill, Obama economic adviser Laura D’Andrea Tyson told a seminar in Singapore on July 7, "We should be planning on a contingency basis for a second round of stimulus." Though Tyson is a member of Obama’s Economic Recovery Advisory Board, she said in the speech she was speaking for herself and not for the administration.
The Congressional Budget Office (CBO) informed Rep. Paul Ryan, ranking Republican member of the House Budget Committee, that President Obama’s budget under-reported (and the CBO itself) the national debt in Obama’s budget by trillions of dollars by predicting unrealistically low interest rates on the national debt in a June 30 letter. Obama’s budget planned to increase the deficit from the current $11 trillion to more than $23 trillion. The CBO letter admits that those estimates may be optimistic by as much as $5.6 trillion.
At a United Nations climate meeting in Bonn, Germany, world leaders proposed a levy on long-haul air travel as a way to raise money to supposedly help less developed countries adapt to alleged anthropogenic (human-caused) “climate change.” If the proposal were to become reality, the United Nations would be able to supplement “contributions” from member nations with its own international tax, something world-government promoters have dreamed about for decades.
President Barack Obama’s director of the National Economic Council, Larry Summers, spoke at the Council on Foreign Relations on June 12. At the time of this writing, a video and a transcript were both available at the CFR website. The stated purpose was to present his “Reflections on Economic Policy in Time of Crisis,” but the theme seemed to be saving the free market from having too much freedom. He even credited socialist economist John Maynard Keynes with the “great insight” that the free market will supposedly fail to achieve a natural balance between supply and demand “two or three times a century, perhaps a little more.”
By some estimates, the U.S. has lost 6 million jobs during the current economic recession began in December 2007. Now, President Obama is planning to tap into the $787-billion stimulus package to create what his administration believes will be 600,000 new job
Will the Obama spend-a-rama finish off the dollar as the world's reserve currency? It well may, and sooner than most people think. Any day now we may wake up to headlines announcing that the International Monetary Fund's SDR (Special Drawing Rights) is being adopted as the new global currency.
President Barack Obama, speaking from the White House's State Dining Room on May 11, hailed the healthcare industry's promise to cut $2 trillion in costs over 10 years as "a watershed event." The president hosted a meeting attended by health insurance, medical device, pharmaceutical, and hospital CEOs, three physicians (all officers of the American Medical Association), representatives of the Service Employees International Union, and administration officials.
You know the economy is in the tank when officials hail the loss of 539,000 non-farm jobs in the U.S. economy during the month of April as good news. President Barack Obama termed the latest unemployment figures "somewhat encouraging," despite the fact that unemployment rose from 8.5 to 8.9 percent nationally. Obama was somewhat encouraged in part because most economists had expected April job losses to be higher than 600,000, as had happened in each of the first three months of 2009.
President Barack Obama revealed new details in his fiscal 2010 budget on May 7, with a statement saying: “We can no longer afford to spend as if deficits don't matter and waste is not our problem. We can no longer afford to leave the hard choices for the next budget, the next administration — or the next generation.”
The hundreds of thousands of Americans who attended Tax Day Tea Parties on April 15 may now be asking themselves, "What's next?" After all, freedom from the unjust taxes of King George III did not end automatically after the original Boston Tea Party. The colonists had much hard work ahead of them.