Oct 17

Austerity Myth: Federal Spending Has Actually Increased

via Investors.com:

When Republicans took control of the House in January, they pledged to make deep cuts in federal spending, and in April they succeeded in passing a bill advertised as cutting $38 billion from fiscal 2011′s budget. Then in August, they pushed for a deal to cut an additional $2.4 trillion over the next decade.

Some analysts have blamed these spending cuts for this year’s economic slowdown.

But data released by the Treasury Department on Friday show that, so far, there haven’t been any spending cuts at all.

Higher Spending, Deficits

In fact, in the first nine months of this year, federal spending was $120 billion higher than in the same period in 2010, the data show. That’s an increase of almost 5%. And deficits during this time were $23.5 billion higher. Read the rest

graphic from Investors.com

Sep 17

Jobs crisis could spark riots says Mayor Bloomberg

Usually when Meddlin’ Mike Bloomberg, lover of the nanny state starts in with his fear-mongering, I let it go in one ear and out the other. As my message to all nanny’s goes… you people don’t have permission to mind my business, how about minding your own instead? So, most of the time when people like that blow the foghorn, it’s always about taking more liberty from people with the same old tired excuses of “public (fill-in-the-blank).”

Except now, Meddlin’ Mike is echoing the warnings that Glenn Beck has been sounding for the last two years, since Beck is rarely wrong, that gives a little credibility to Meddlin’ Mike this time around.

NEW YORK (CNNMoney) — New York City Mayor Michael Bloomberg is worried that high U.S. unemployment could lead to the same kind of riots here that have swept through Europe and North Africa.

“You have a lot of kids graduating college, [who] can’t find jobs,” said Bloomberg, during his weekly radio show on Friday. “That’s what happened in Cairo. That’s what happened in Madrid. You don’t want those kinds of riots here.”

That was the mayor’s response when asked about the poverty rate, which rose to 15.1% in 2010, its highest level since 1993, according to census data released Tuesday. About 46.2 million people are now living in poverty, 2.6 million more than last year.

“The public is not happy,” he said. “The public knows there is something wrong in this country, and there is. The bottom line is that they’re upset.”

Riots have gripped various countries in European cities, including Athens and London, fueled by young people infuriated by high unemployment and austerity measures, which in some cases has led to looting. Read the rest

I think riots are going to happen, we’re pretty close to that now and it’s not going to matter if the president is Barack Obama or a Republican, riots are going to happen. Now I know leftists love to point and blame (that’s the only thing they do well), and they will probably do that, and of course they’ll blame the wrong person like they always do. If you want to play the blame game, you have to be truthful, this all started back in the 1930′s with President Franklin Delano Roosevelt and Social Security. Sorry folks, but the truth has no agenda, it just is. I hope the Republicans leave the blame game to the masters, the Democrat Party, and not be consumed with blaming 80 year-old policies on a president that has been dead for 66 years, just do what must be done regardless of political pressure. That’s called putting the country first and doing the right thing.

Here’s why I think riots will happen. You’ve got Barack Obama imposing socialism, and willfully spending this country into insolvency. Hey, look at his record, look what he’s done. Actions speak louder than words. And he is showing no sign of letting up, that was proved last week with his calls for spending another half trillion dollars.

Then you have Republicans who likely will cut spending and eliminate programs. The perfect recipe for the worthless panhandlers to rise in revolt. Like I said, either way, I think riots are coming.