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Obama’s Policies Could Cause a Second U.S. Credit Downgrade
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Tag Archives: Economics
by Ben Johnson, The White House Watch
Obama scored another historical first on Friday, becoming the first president to see the U.S. credit rating downgraded by Standard & Poor’s, from AAA to AA+. While we hope his presidential reign lasts no longer than January 2013, Americans may have to live with the consequences of Obamanomics for more than a decade to come. The chairman of Standard & Poor’s sovereign debt ratings, John Chambers, told ABC’s … Read the Rest of this Post
Posted in Floyd Reports, News Reports, Opinion
Tagged Barack Obama, Barry Eichengreen, Bill Clinton, Birkshire Hathaway, China, Dagong Global Credit Rating, David Axelrod, Debt Ceiling, Dow Jones, Economics, Guan Jianzhong, Hillary Clinton, John Chambers, John Kerry, NASDAQ, National Debt, Obama's downgrade, Standard & Poor's (S&P), stock market, Tea Party, Tea Party Movement, Timothy Geithner, U.S. Credit Rating, U.S. dollar, University of California-Berkeley (UCB), Wall Street Journal, Warren Buffett, Xinhua news agency
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by Ben Johnson, The White House Watch
If you were regularly described as one of the most “brilliant” leaders in our nation’s history and were poised to launch a 16-month-long crusade to convince the nation to re-elect you, how would you sell your dismal economic record? Barack Obama gave his answer in a press conference yesterday, when he promised to deliver “massive, job-killing tax increases” and claimed a 9.2 percent unemployment rate proves he was … Read the Rest of this Post
by Dr. John A. Sparks
President Obama is now openly proposing tax increases on at least two important fronts as part of his “solution” to the growing debt crisis.
The president’s favorite approach is to talk about the “wealthiest Americans.” In his speech on April 13, he proclaimed that he will do away with the “Bush tax cuts” for the rich as soon as he has the opportunity. Just a week later, April 21, he … Read the Rest of this Post
Posted in Floyd Reports, News Reports, Opinion
Tagged Barack Obama, economic crisis, Economic Issues, Economics, Social Security, Tax Hikes
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by Dr. Mark W. Hendrickson
As Americans increasingly feel the pinch of higher prices for food and fuel, the Federal Reserve’s QE2 policy of creating more money has been called into question. Asked if the Fed bore some responsibility for these vexing price increases, Fed Chairman Ben Bernanke essentially replied, “It’s not our fault.” Instead, Bernanke blamed the price increases on “global supply and demand conditions.”
Is Chairman Bernanke correct? To use a well-known phrase: … Read the Rest of this Post
by Dr. Shawn Ritenour
That is the question asked by the left-leaning Christian organization, Sojourners, in its campaign of the same name. It is a most appropriate question given the battle over the budget and given this time of year, not long after the most holy holiday of the year for Christians.
Sojourners claims that, despite record budget deficits and national debt, reducing subsidies for things like vaccines and bed nets in Africa, school lunch
Posted in Floyd Reports, News Reports, Opinion
Tagged Christianity, Economic Issues, Economics, Jim Wallis, Sojourners
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by Floyd and Mary Beth Brown
While Barack Obama spends his time running victory laps around the country over the killing of Osama bin Laden, the American economy is careening toward a dangerous cliff. Royal Weddings, Obama’s multiple birth certificates, and absurd arguments about the NFL lockout dominate the news while daily Americans get poorer.
Obamanomics is a disaster. A greater disaster hasn’t been visited on the United States in our economic history because we … Read the Rest of this Post
New York City Michael Bloomberg has a keen solution for the city of Detroit: open the U.S. border and allow illegal immigrants to move in “start businesses, take jobs whatever.” The Democrat-turned-Republican-turned-Independent, who is said to be considering a third party presidential run in 2012 and was a major force behind the “No Labels” movement, says America’s most decrepit city would benefit if the illegals promise to keep their discipline and work ethic inside … Read the Rest of this Post
Who’s right, the president of the Southern Baptist denomination or Al Sharpton?
by Dr. Shawn Ritenour
By the time you read this, Federal Reserve Chairman Ben Bernanke will have held the Fed’s first press conference following a meeting of the Federal Open Market Committee—the Fed committee that controls monetary policy. Leading up to this historic moment, the popular press has repeated a well-rehearsed rhetorical dance as it reports on the monthly release of the Consumer Price Index. Those who should know better repeat the mantra that, while … Read the Rest of this Post
by Susan Stamper Brown
We’ve heard a lot of pep-talks recently that it might be time to for Americans to reduce their living standards and expectations in order to accept the “New Normal” that is inevitable if Washington’s reckless spending spree on the taxpayer’s dime continues.
It’s difficult to grasp the notion that citizens are expected to go without in order to fund a government that is about to bust the seams of its financial … Read the Rest of this Post
