PDA

View Full Version : The "Amatuer" in the White House at it again.



Uncle Bill
10-28-2012, 01:02 PM
All you lefties must be so proud of this man-child you elected. Are you continuing your blind acceptance of this pathetic inept person? Must be fun to get FOOLED again, or is it your white guilt showing?

Here's some late-breaking news from the messiah. Enjoy. UB

Obama Suggests Raiding Social Security For “Tax Relief” Again

http://sayanythingblog.com/files/2012/04/Social-Security-300x195.jpg


Written By:
Rob Port (http://sayanythingblog.com/entry/author/admin/)
Oct 27, 2012


“[W]e’ve now gone more than 570 days into the Barack Obama Re-Election Campaign. On Day 568, Obama finally deigned to produce a second-term agenda — a document so unserious and insubstantial that its release served to underscore his desperation rather than enlighten anyone on his approach to the next four years,” writes Ed Morrissey (http://hotair.com/archives/2012/10/27/surprise-obama-floats-new-tax-cut-trial-balloon/).

“Clearly, that didn’t do anything to revive Obama’s chances on the campaign trail, especially not with Mitt Romney hammering home his closing argument on jobs and the economy. Therefore, on Day 574 — and late in the evening on a Friday — Obama finally got around to floating a tax-cut trial balloon.”

Morrissey is referring to hints from the Obama campaign (http://www.washingtonpost.com/business/economy/white-house-considering-new-tax-cut/2012/10/26/8187d726-1fa5-11e2-9cd5-b55c38388962_story.html) that they’d like to do another version of the Making Work Pay tax relief which cut into revenues for an already beleaguered Social Security program to pay for a small amount of temporary tax relief for those earning paychecks.

The White House is weighing the idea of a tax cut that it believes would lift Americans’ take-home pay and boost a still-struggling economy, according to people familiar with the administration’s thinking, as the presidential candidates continue battling over whose tax policies would do more for the country.

Obama administration officials have concluded that the economy, while improved, is still fragile enough that it may need another bout of stimulus. The tax cut would replace the payroll tax cut championed by President Obama in 2011 and 2012, which was designed as a buffer against economic shocks such as the financial crisis in Europe and high oil prices. It expires at year’s end.

The new tax cut could provide hundreds of dollars or more a year to workers and show up in every paycheck. It may be similar to a tax cut Americans received in 2009 and 2010, which provided up to $400 for individuals and $800 for married couples, sources close to the administration said.

This didn’t work the last two times it was tried, and the reason is obvious. Americans don’t change their behavior based on an extra $20/week, especially not when that extra $20/week is temporary.

And keep in mind that this payroll tax cut comes out of Social Security revenues. Whatever else that can be said about that entitlement monster, it is currently running a deficit being obligated to pay more out in benefits than it collects in revenues. And when Social Security dips into the trust fund to make good on this deficit, the US Treasury must borrow more money to make good on the treasury bonds that make up 100% of that trust fund.

In short, Social Security already doesn’t have enough revenues to maintain itself and is relying on a trust fund that is little more than an accounting fiction, and Obama wants to cut even more revenues from the program to buy votes with a tiny bit of trivial tax relief.

Update: For what it’s worth, the Obama campaign is now denying (http://washingtonexaminer.com/wh-denies-wapo-report-that-its-considering-a-new-tax-cut/article/2511887?custom_click=rss) the Washington Post’s report about their consideration of a new tax cut.

Uncle Bill
10-28-2012, 01:27 PM
Oh...BTW...after telling us in one of the 'debates' how much oil drilling he's responsible for...comes this revelation. UB

1. Obama Curtails Drilling in Oil-Rich Alaskan Reserve

The Obama administration, citing environmental concerns, has banned drilling on half of the vast National Petroleum Reserve-Alaska in a move decried even by Alaska’s congressional delegation.

“The price of gasoline, which was $1.84 a gallon the day President Obama took office, has more than doubled since, willfully aided and abetted by an administration that claims we can't drill our way to energy independence as we ignore vast reserves of North American energy that dwarf OPEC's and we sit on 100 years' supply of petroleum,” Investor’s Business Daily (IBD) stated in an editorial.

The National Petroleum Reserve-Alaska (NPRA), not to be confused with the Arctic National Wildlife Refuge (ANWR) to the east, is a 23.5-million-acre, Indiana-sized tract on Alaska’s North Slope. It was established by President Harding in 1923 to ensure oil supplies for the U.S. Navy.

The desolate NPRA has been described as the largest tract of undisturbed public land in the United States and includes a point 120 miles from the nearest village or usable road.

In 1976, the reserve was transferred to the Interior Department and Congress designated it as a strategic oil and natural gas stockpile to meet the “energy needs of the nation.”

But in August, Obama’s Interior Secretary Ken Salazar announced that new drilling would be allowed on half of the reserve while the other half will be off-limits to oil and gas exploration.

Environmentalists had lobbied to protect the habitat of caribou, eider ducks and other Arctic species.
“The move drew praise from environmentalists but sharp criticism from oil and gas proponents who said it would restrict the industry’s ability to tap the nation’s hydrocarbon resources,” the Washington Post reported.

The off-limits portions of the reserve are “the most productive areas” of a tract that IBD says contains 2.7 billion barrels of oil and 114 trillion cubic feet of natural gas.

Alaska’s congressional delegation — Sens. Mark Begich (a Democrat) and Lisa Murkowski, and Rep. Don Young — call the administration’s action “the largest wholesale land withdrawal and blocking of access to an energy resource by the federal government in decades.”

They also said the move “will significantly limit options for a pipeline” through the reserve to transport oil and gas.
Erik Milito, the American Petroleum Institute’s group director of upstream and industry operations, said the plan “continues to leave domestic energy resources, jobs and government revenue off the table.”

IBD concludes: “The move is typical Obama sleight of hand: Take credit for increased oil production on public lands that you had nothing to do with, lock up resources on federal lands with the exception of places the oil companies find unprofitable or unpromising, then blame them, not your administration, for driving up prices.”

gman0046
10-28-2012, 08:27 PM
The scary part isn't the fact Obama was elected but that there were enough STUPID people to elect him. Four years of the community organizer is enough. Americans lets take back our country and send the failure packing.