Lake Minnetonka Liberty

"Man is not free unless government is limited"

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Tag Archives: GDP

Obama’s Class-Warfare, Tax-the-Rich Budget

If you shake out the Obama budget in terms of bold headlines, it’s really a class-warfare, tax-the-rich budget. Layer upon layer of tax hikes are piled on successful investors, small-business owners, and corporations.

The capital-gains tax goes from 15 percent to 24 percent (including Obamacare). The dividends tax goes from 15 percent to nearly 40 percent, and that’s not including the double tax on corporate profits embodied in dividends and capital gains. The Bush tax cuts for top earners are repealed. There’s the 30 percent Buffett-rule minimum tax on millionaires.

Read the rest at Big Government

OBAMANOMICS: Economic Growth Slows to Crawl, GDP Increase an anemic 1%

Tell me again how well that hope and change is working out. Even Jimmy Carter managed to do better with the economy than this dumbo-eared baboon that calls 1600 Pennsylvania Avenue home for the next 14 months.

via CNBC:

The U.S. economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up.

Gross domestic product growth rose at annual rate of 1.0 percent the Commerce Department said, a downward revision of its prior estimate of 1.3 percent…

Economists had expected output growth to be revised down to 1.1 percent. In the first quarter, the economy advanced just 0.4 percent. The government’s second GDP estimate for the quarter confirmed growth almost stalled in the first six months of this year.

The United States is on a recession watch after a massive sell-off in the stock market knocked down consumer and business sentiment.

Want more of the same? Vote Obama 2012 and you’ll get it.

He just can’t wait to spend us in to insolvency

Alright goddammit. Which one of you dumb son-of-a-bitches voted for that socialist bastard again? You don’t like admitting it now, do you? I told you this was going to happen… before the ’08 election, didn’t I?

How can anyone be inspired by just a two-word slogan? Hope, and change, without knowing anything about the man, his ideology, his policies, any details or explanations about anything. And how could those same people overlook the out in the open socialist tendencies of then candidate Obama? What are you people?
F—ing retarded? “D-uh, Hope ‘n change! D-uh… it’s good enough for me! D-uh, Hyuk, hyuk, hyuk.” Like I always say, the stupid should never be allowed to vote.

Oh he just couldn’t wait to get his hands on the new credit card and start spending again, could he? I told you he would do that just a couple of days ago, and he will continue spending until he can’t spend anymore, creating the crisis for him to get his precious tax increases. We discussed how that will be done yesterday in a post found here.

It took him just one day of spending to top 100% of our GDP. And some of you are actually simple enough to think that this is not intentional? Crawl back under that rock, where you belong.

US debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.[...]

Ratings agencies have warned the country to reduce its debt-to-GDP ratio quickly or facing losing its coveted AAA debt rating.

Hope and change huh? F—in’ dummies.