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Global Recession

Obama’s to Blame for Record Breaking Numbers of Food Stamp Recipients

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Finally, it appears as if the U.S. economy is picking up some decent steam, but can President Obama and Democrats take any credit at all for the uptick? Recent economic news in the U.S. has been encouraging. On Friday, The Associated Press reported that, according to government figures, job creation in November and December was better than expected, and wage growth ticked up the most since President Obama took office. According to the AP: U.S. employers added a vigorous 257,000 jobs in January, and wages jumped by the most in six years — evidence that the job market is accelerating closer ...

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Ebola will ravage world economies if it continues to spread

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As the Ebola epidemic worsens, it will threaten local and regional economies that were already struggling to grow before the deadly virus struck If those economies falter, that will have an impact on global markets The longer the disease is allowed to spread, the greater the economic risks Without question the Ebola outbreak continues to dominate headlines, but most of the coverage has dealt with the health impact of the disease, concerns over how easily it can spread and, particularly in the U.S., where it might turn up next since the Obama administration refuses to close off air travel from the most stricken parts of West ...

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America will never experience great economic growth again without major tax reform

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The U.S. economy grew at a good clip in the second quarter, but when averaged with the first quarter, growth was tepid Bush-era economist James C. Capretta says that the best way to spur new economic growth that is sustainable is by reforming the ‘dysfunctional’ U.S. tax code He cites the recently released tax reform plan from Sens. Mike Lee and Marco Rubio as a template for downsizing and simplifying the code, thereby spurring economic growth In recent days the federal government released figures indicating that the U.S. economy grew an eye-popping 4.6 percent in the second quarter, a statistic that was, ...

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A Swedish Plan to Save the U.S.

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By Kelly Irons To say that the U.S. government is a profligate spender of OMP – other people’s money – is such an understatement it borders on the hysterical. Yes, our government has a spending problem. And because of that, it also has a management problem, a waste, fraud and abuse problem, and a taxation problem. High taxes (well, for some income groups) feed an insatiable federal leviathan that then uses our money to pick certain winners in the corporate world (think incentives) while buying off key voter constituencies with taxpayer money (think welfare, SNAP, Obamacare and other government subsidies). It’s all gotten ...

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Yellen, as Fed Chief, Will Continue War on Savings

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Anyone hoping that the departure of Ben Bernanke as chairman of the Federal Reserve will mean more responsible monetary policy is in for a rude surprise if Obama’s nominee Janet Yellen is confirmed. At her confirmation hearing Thursday, Yellen said that: [S]he will pursue policies that hurt people who try to build up wealth, claiming that impoverishing savers serves the collective good of society. Senator Mike Johanns (R-NE) observed that artificially suppressing interest rates hurts those who have saved: “You know, explain to the senior citizen who is just hoping that a CD will earn some money so they don’t ...

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America, How Can We Screw Thee? 4 Trillion Ways

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By Nick Sabal If you still harbor a shred of doubt that your government and its institutions really care about Main Street America, this should put those doubts to rest once and for all. And make you mad as hell in the process. In today’s Wall Street Journal, former Federal Reserve bond buyer Andrew Huszar wrote a piece I’m sure he hopes will clear his conscience, even though, despite his own initial apprehension, in 2009 he became part of the biggest ongoing swindle of the American taxpayer in the history of the country. Forget ballooning welfare and food stamp fraud. Put ...

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Starving The Beast – The 2013 Budget Sequestration

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Sequestration is the name given to budget cuts by the federal government as a measure of austerity. In fiscal 2013, spending cuts totaling about $85.4 billion have been planned and the austerity measures will continue through 2021. These cuts will reduce spending on defense and Medicare among others. However, major programs such as Medicaid, Social Security, and military pay and benefits will not be impacted. Sequestration is expected to affect economic growth and creation of new jobs. The main goal is to reduce the huge budget deficit by stopping runaway government spending – to effectively “Starve the Beast.” Supporters of ...

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