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soupsandwich
Joined: 20 May 2011
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 Posted: Fri Jun 03, 2011 9:38 am Post subject: Degree in Economics not needed..... |
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http://www.foxnews.com/on-air/oreilly/transcript/bill-oreilly-economy-takes-turn-worse
By Bill O'Reilly
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Economic data in this week paints a bleak picture of the U.S. economy. Housing prices continue to fall, unemployment not getting any better, and consumer confidence in the tank. All bad news for the Obama administration -- no president since FDR has been reelected with economic data that bad.
And then there is the $14 trillion-plus debt.The mistake President Obama is making is that he believes the federal government can control economic growth. It can't. Only the private sector can.
The president and Mr. Bush before him were correct in supplying taxpayer money to keep the banking system from collapsing. And Mr. Obama was also right in lending some American corporations cash to recover. As we reported last week, most of the TARP funds have now been paid back.
But the president's overall economic philosophy is hurting the nation. Is he spending far too much money on social justice and has not a clue -- not a clue -- on how to reform things like Medicare.
And as you may know, Mr. Obama has not put forth any economic plan.
BARACK OBAMA, PRESIDENT OF THE UNITED STATES: I say that at a time when the tax burden on the wealthy is at its lowest level in half a century, the most fortunate among us can afford to pay a little more.
(END VIDEO CLIP)
So, let's step back for a moment. Mr. Obama wants to raise taxes on the affluent, including small business owners who hire people. Does that make sense to you? If you want more jobs, you must give business incentives to hire, not take more money away from the entrepreneurial class.
This week, Greece got whacked again. The country is bankrupt. Spain in big trouble. And Italy is right behind them. All of those economies essentially run by the governments. So is the economy of Cuba. How is that working out?
"Talking Points" believes Mr. Obama's passion for spending is damaging the American economy. And that will be the centerpiece of the 2012 presidential campaign.
By the way, people who can't get jobs are hurt in many ways not just economically. There's a ripple effect. Kids see their fathers and mothers distraught. Families are broken up. It's awful.
The leadership in Washington must understand -- must -- that reform and incentives to the free market are desperately need. That's "The Memo." |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Fri Jun 03, 2011 10:38 am Post subject: |
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By DOUG WHITEMAN, Associated Press � Fri Jun 3, 6:34 am ET
CHILLICOTHE, Ohio � An Ohio woman who just turned 100 years old has taken customer loyalty to the extreme: She's still using a bank savings account that's been around almost as long as she has, since the year before World War I.
June Gregg recently mentioned to a friend that her account is the same one her father opened for her in January 1913, when she wasn't even a year-and-a-half old. The friend told the people at Gregg's small-town bank in southern Ohio.
Gregg still has the little blue passbook from when the account was opened with an initial deposit of $6.11. Her father, Gilbert, a farmer who grew corn, wheat and hay, was a Savings Bank customer and wanted his only daughter to learn thrift.
"That's what he always taught us: to
stay out of debt and save our money and not buy anything until we had the money to pay for it,"
Gregg said in an interview. |
1913. This farmer new more about economics than all the stupid, fascist-socialists in the US government since - especially the administrations of: Wilson, FDR, Nixon, Bush ll and Obama.
1913. That's when the troubles began: Federal Reserve and Federal Income Taxes.
"Neither borrower nor lender be." |
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soupsandwich
Joined: 20 May 2011
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| Posted: Fri Jun 03, 2011 1:18 pm Post subject: |
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1913. This farmer new more about economics than all the stupid, fascist-socialists in the US government since - especially the administrations of: Wilson, FDR, Nixon, Bush ll and Obama.
1913. That's when the troubles began: Federal Reserve and Federal Income Taxes.
"Neither borrower nor lender be." |
Good point. |
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