Category Archives: Finance

Obama Admin to give $1 billion to Egypt while Egypt takes up with Iran

The Washington Free Beacon: According to U.S. officials, the head of the Egyptian General Intelligence Service, Maj. Gen. Murad Muwafi, met in early August with a senior official of Iran’s Ministry of Intelligence and Security (MOIS).

Disclosure of the Egyptian-Iranian intelligence meeting comes as the Obama administration is planning to provide $1 billion in aid to bail out Egypt’s new Islamist government. The administration is said to be seeking closer ties to the new regime in Cairo, following the ouster in February 2011 of long-time ally Hosni Mubarak.

Many members of the pro-democratic, anti-Muslim Brotherhood opposition in Egypt believe the Obama administration has made a covert pact to support the Morsi regime.

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Budget deficit tops $1 trillion for fourth time

Shameful!

Obama’s 2013-2022 Budget Proposal- OUTRAGEOUS!

President Obama seeks to run a $6 trillion dollar total budget deficit between 2013 and 2022.  This is not moral!  It is not ethical! And it must not be allowed to happen!

Just imagine if you started a business and in the documents governing that business you included a deficit budget for the next 10 years, with absolutely no method of making up the difference.  Not only that, but you included in the documents that your children and grandchildren would be responsible for all debt even past your death, and that there was no plan to increase receipts or decrease outlays.  You would not do it!  And you should not let the federal government do it!

Why the US Budget cannot be balanced

Obama 2008 on Bush: Irresponsible and unpatriotic

While running for office, candidate Obama declared that Bush 43 was irresponsible and unpatriotic because during his tenure in office the national debt went from $5 trillion to $10 trillion (over eight years).  Somehow he has failed to mention that in the last 3.5 years (less than half the time it took Bush 43) under his watch, the debt has soared by $6 trillion.  Who is irresponsible and unpatriotic?

National Debt on 9/6/2000: $5,698,164,900,000

National Debt on 9/6/2008: $10,253,533,380,000

National Debt on 9/6/2012: $16,005,878,000,000

(ref:www.usdebtclock.org)

MA Gov. Patrick chides Romney on household income record; gets it wrong

MA Governor Deval Patrick chided Mitt Romney on his record indicating that “household income was declining” during Mitt’s term.  Again, no need to let the facts get in the way of the story.

According to the US Census Bureau data the record tells a different story.  In 2002, the year before Romney took the reins in the governor’s office, the Median Household Income in MA was $51,085.  When Romney left office, the MHI was $59,930, or 1.17 times the 2002 level.

Median Household Income (source: http://www.census.gov/cgi-bin/saipe/saipe.cgi)

2002- $51,085
2003- $52,713
2004- $55,658
2005- $57,176
2006- $59,930

The K… Brothers steer millions to political group

But it’s not the K… Brothers that the mainstream media so vehemently denigrates.  In this case, K is not for Koch, but for Kanter, and the political group is not right-wing conservative, but the far-left organizations of George Soros.

Read about the Kanter Brothers here.

Unemployed? Consider the following when you head to the voting booth

9/08/2012-  Amended:  I went back and checked my numbers again and found that I must have been really tired when I did the original spreadsheet, so I looked at it again.  Although place does not change, tThis time I added the years for each configuration of White House and Congress.  You can see from the chart below that when all three are controlled by Republicans, unemployment figures, on average, are the best.  When the Congress is controlled by Republicans and the White House by a democrat, 2nd best, and when the Republicans control the White House and the House of Representatives, 3rd best.

Unemployment Figures

09/03/2012, Kelly Knight, Editor of Knightly Report:  When Republicans control both the Senate and the House of Representatives, the average unemployment rate for those years is 4.87%.  When Democrats control both houses of Congress, the average unemployment rate is 5.72%.

When Republicans control the White House, Senate, and House of Representatives the average unemployment rate for those years is 4.97%.  When Democrats control the White House, Senate, and House of Representatives the average unemployment rate is 5.74%

When Republicans control the White House and Senate, but not the House of Representatives, the average unemployment rate is 8.13%, but when the Democrats control the White House and Senate, but not the House of Representative, the average unemployment rate is 8.5%.

When Republicans control the White House and the House of Representatives, but not the Senate, the average unemployment rate is 5.3%.  When the Democrats control the White House and House of Representatives, but not the Senate…this has never happened since 1951.

When Republicans control the White House, but Democrats control the Senate and House of Representatives, the average unemployment rate is 5.69%.  When the Democrats control the White House, but Republicans control the Senate and House of Representatives, the average unemployment rate is 4.77%.  The only time this has happened is during the Clinton Administration, when we had the dot.com boom and Clinton largely governed as a moderate.

Finally, when Republicans control at least two of the three (White House, Senate, House of Representatives) the average unemployment rate is 5.79%.  When Democrats control at least two of the three (White House, Senate, House of Representatives) the average unemployment rate is 6.65%.

When it comes to lowering unemployment, it is safe to say that having Republicans in control is our best hope.

References: Data extrapolated from unemployment reports and Control of Congress records 1951-2011

Copyright 2012, The Knightly Report

Yes, Ryan accurately depicted what Obama said

From Senator Obama’s February 2008 campaign speech at Janesville, WI: “I believe that if our government is there to support you, and give you the assistance you need to re-tool and make this transition, that this plant will be here for another hundred years.

[…]

“We need to maintain our competitive edge in a global by ensuring that plants like this one stay open for another hundred years, and shuttered factories re-open as new industries that promise new jobs. And we need to put more Americans to work doing jobs that need to be done right here in America.”

From Republican Vice-Presidential Candidate Paul Ryan’s August 2012 speech at the 2012 RNC: “‘Right there at that plant, candidate Obama said: ‘I believe that if our government is there to support you…this plant will be here for another hundred years.’ That’s what he said in 2008.

“Well, as it turned out, that plant didn’t last another year. It is locked up and empty to this day. And that’s how it is in so many towns today, where the recovery that was promised is nowhere in sight.”

The plant closed on April 23. 2009, though its pending closing was announced by GM in June 2008.

“In October 2008, following the announcement that the Janesville plant was closing even earlier than anticipated, Obama reiterated the latter promise, saying, ‘As president, I will lead an effort to retool plants like the GM facility in Janesville so we can build the fuel-efficient cars of tomorrow and create good-paying jobs in Wisconsin and all across America.’ As the still-shuttered Janesville plant attests, that pledge was not followed through on” (redstate.com)

See my post GM: From Jaynseville to Jilin

GM: From Janesville to Jilin

The Free Beacon: A bailed out General Motors expanded its small truck and SUV manufacturing in China soon after closing down similar facilities in Janesville, Wisconsin—the plant Barack Obama pledged to save and keep open for “another hundred years” in 2008.

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