Free Republic

By The states that voted to put Barack Obama in office are suffering for supporting him. A recently releast Investor’s Business Daily report provides some telling data derived from comparing economic conditions in the so-called Blue States (those who voted for Obama) with those in the Red States that voted for John McCain. Income growth in Blue States trails per capita income growth in Red States by about .07%. Job growth which has been slow nationwide has Blue States lagging by .08%. Home prices in Red States actually climbed slightly by .03% but Blue State home prices dropped about 3.8%....

With elections less than eight months away, rising prices at the pump are threatening to derail a tenuous economic recovery. And President Obama, to mitigate political fallout, embarked this month on a four-state swing to promote his "all of the above" energy strategy, a broadly supported approach to increasing domestic development of natural gas, solar, wind, hydro, nuclear and yes, oil. But if the president has begun to or at least talk about some moderate sensibilities on domestic energy production, he hasn't changed a bit on tax policy. Every policy and campaign speech the president has given since taking office,...

The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency. The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office. The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day. The National Debt also now exceeds...

A new report by the nonpartisan Congressional Budget Office states that by 2016, Obamacare will result in 4 million people fewer people getting health insurance coverage from their employers.The estimate is a vast increase from the CBO prediction just a year ago that 1 million would no longer obtain coverage from their employers. And it raises substantial questions about the veracity of one of Obama’s key pledges in selling the health care law – that everyone who wants to keep their current health insurance plan and doctor could do it.It’s not clear how many of the 4 million would be...

I"m a nurse anesthetist, and I just got a work-related email from my boss. Basically it said "please conserve midazolam, fentanyl, morphine, and hydromorphone.....supplies are CRITICALLY short & the hospital is struggling to maintain supplies". Um, ok. The last time I checked, this was the United States, not Crapistan. How are we "critically short" on all of the major anesthesia drugs that we use??? Am I supposed to offer the patient a bullet to bite? Are there any FReepers out there who have ties to the pharm industry and can explain this? Speaking with others throughout the hospital, I have...

Gasoline prices could soar as high as $7 a gallon this summer thanks to supply threats stemming from Middle East unrest as well as OPEC policy, says real estate mogul Donald Trump. Iran has already cut off supply to France and to the U.K. to protest sanctions from the west, who accuse Tehran of developing a nuclear weapons program. U.S. military officials have said they feel they can ration with Iran, although fears are growing that Israel may consider a unilateral strike on Iran anyway, which is sending crude oil skyrocketing.

The problems Obama will face are growing not subsiding. In just the last month the pump price of gasoline has risen .20 a gallon. ……..higher than it has been in February since 1981. The reason for the rise totally out of Obama’s control; he can’t lie his way out of it. The Iranians want to squeeze the Europeans who are already looking at $8.00 a gallon gas so they are denying France and England oil. The Europeans will come here to buy their gasoline because our $3.52 per gallon looks great! When they do our price will go up whether...

After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today. And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven't sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.

President Obama released his FY 2013 budget [Monday] morning. By his own numbers, his budget raises net taxes over the next decade by $1.56 trillion (Table S-9, page 225). As a percentage of the economy, tax revenues would rise all the way to 20.1% of GDP in 2022, far higher than the historical tax revenue average of 18.3% of GDP (Table S-1, page 205). Here are some of the tax lowlights: All 20 of the new or higher taxes in Obamacare are assumed to take place. That means that there will be a 3.8 percentage point surtax on investment income....

When Barack Obama entered office in January, 2009, the labor force participation rate was 65.7%, meaning nearly two-thirds of working age Americans were working or looking for work. When the recession supposedly officially ended in June, 2009, the labor force participation rate was still 65.7%. In the latest, much celebrated, unemployment report, the labor force participation rate had plummeted to 63.7%, the most rapid decline in U.S. history. That means that under President Obama nearly 5 million Americans have fled the workforce in hopeless despair. The trick is that when those 5 million are not counted as in the work...

President Obama last week brandished new jobs numbers as proof that his policies were having an effect on the unemployment rate, which the report said declined to 8.3 percent in January. The president is right about one thing: his big government agenda and class warfare tactics are having an effect -- but it's not the one he claims. In truth, last month's drop in the unemployment statistic was due largely to the evaporation of 1.2 million people from the labor force number. When people become so discouraged they stop actively looking for work, they are no longer counted as unemployed...

<p>As searches dragged on, many just stopped looking. Now they aren’t even counted among the jobless.</p> <p>Jackson Julien looked for a fun job, then for anything. Finally, demoralization set in.</p> <p>Millions of Americans have vanished from the US labor force in the past three years, many of them so discouraged by long, fruitless job searches that they have given up looking for work, convinced that no employer wants them, according to a new study.</p>

The American public's dependence on the federal government shot up 23% in just two years under President Obama, with 67 million now relying on some federal program, according to a newly released study by the Heritage Foundation. The conservative think tank's annual Index of Dependence on Government tracks money spent on housing, health, welfare, education subsidies and other federal programs that were "traditionally provided to needy people by local organizations and families." The increase under Obama is the biggest two-year jump since Jimmy Carter was president, the data show. The rise was driven mainly by increases in housing subsidies, an...

Some issues fade; others fester. The Obama administration’s contraceptive mandate for religious charities, hospitals and universities is the festering kind. The initial reaction concerned the rights of institutions. Catholic organizations naturally resent being forced to buy health insurance that covers sterilization, contraceptives and drugs that can end a pregnancy soon after conception. The Obama administration seems to have calculated that, since contraceptives are popular and the Catholic Church is not, the outcry would be isolated. But religious liberty is also popular, given the Constitution and all that.

It appears the record surge in people not in the labor force is not the only outlier in today's data. For the other one we go to the Household Data Survey (Table 9), and specifically the breakdown between Full Time and Part Time Workers (defined as those "who usually work less than 35 hours per week"). We won't spend too much time on it, as it is self-explanatory. In January, the number of Part Time workers rose by 699K, the most ever, from 27,040K to 27,739K, the third highest number in the history of this series. How about Full time...

CBO: Taxes Will ‘Shoot Up by More Than 30 Percent’ Over Next 2 Years By Terence P. Jeffrey January 31, 2012 (CNSNews.com) - The amount of money the federal government takes out of the U.S. economy in taxes will increase by more than 30 percent between 2012 and 2014, according to the Budget and Economic Outlook published today by the CBO. At the same time, according to CBO, the economy will remain sluggish, partly because of higher taxes. “In particular, between 2012 and 2014, revenues in CBO’s baseline shoot up by more than 30 percent,” said CBO, “mostly because of...

Obama-backed electric car battery-maker files for bankruptcy By Andrew Restuccia - 01/26/12 11:55 AM ET An Indiana-based energy-storage company, whose subsidiary received a $118.5 million stimulus grant from the Energy Department, filed for bankruptcy Thursday. Ener1 is asking a federal bankruptcy court in New York to approve a plan to restructure the company’s debt and infuse $81 million in equity funding. “This was a difficult, but necessary, decision for our company,” Ener1 CEO Alex Sorokin said in a news release. “We are extremely pleased to have the strong support of our primary investors and lenders to substantially reduce the company’s...

This morning, Rep. Jan Schakowsky appeared on the Don Wade and Roma show on WLS-AM Chicago to comment on President Barack Obama’s State of the Union address. Schakowsky praised the president’s green energy initiatives, claiming that the (recalled) Chevy Volt “is doing pretty well” and defending Obama’s failed investment in Solyndra. When the hosts asked her to defend President Obama’s decision to block the development of the Keystone pipeline, Schakowsky did not dispute that the project would create jobs, but denied that these jobs were significant: "Twenty thousand jobs is really not that many jobs and investing in green technologies...

Trying to jump-start his re-election with hometown fund-raisers and rallies, President Barack Obama told 500 cheering fans Wednesday, “Everything that we fought for is now at stake in this election.” He repeated the message at more intimate gatherings in private homes in Lake View and Kenwood. He fired up the troops in his very first visit to his national headquarters in the Prudential Building. And he even stopped in to his own home for 20 minutes at the end of the night before flying back to Washington, D.C. He hopes the fund-raisers bring in more than $2 million for what...