Last Friday the Labor Department reported that private sector employers added an anemic 50,000 net jobs to the U.S. economy in November. That is far fewer than what is needed to absorb discouraged workers reentering the workforce or population growth. As a result, unemployment rose to 9.8 percent, marking the 19th consecutive month that our nation’s unemployment rate topped 9 percent, a post–World War II record.
Faced with this record breaking unemployment, what did the leftist Senate majority do the very next day? They voted to raise taxes, of course. Fortunately, a bipartisan coalition of Republican and Democratic Senators defeated the Obama tax hikes, setting the stage for an all-or-nothing tax showdown this week.
With unemployment at 9.8 percent and President Barack Obama 7.3 million jobs short of where he promised the economy would be by December 2010, just how many jobs are at stake in this week’s negotiations? The Heritage Foundation’s Center for Data Analysis crunched the numbers on various possible tax proposals andestimates that:
- Permanently extending current tax rates would cause no further job losses in 2011 or over the next 10 years;
- Raising taxes on just those making more than $1 million would cause 78,000 lost jobs in 2011 and 198,000 lost jobs by 2020;
- Raising taxes on individuals making more than $200,000 and families making more than $250,000 would cause 238,000 jobs lost in 2011 and 693,000 jobs lost by 2020;
- Extending current tax rates for just two years would cause 949,000 job losses by 2020;
- Extending current tax rates for just one year would cause 1,056,000 job losses by 2020; and
- Allowing all the tax hikes would cause 550,000 job losses this year and 1,205,000 job losses by 2020.
And these CDA numbers do not even capture the uncertainty caused by Congress’s failure to set tax rates in a responsible time frame. Jeffrey Lacker, president of the Richmond Federal Reserve, said in an October speechthat with “the continuing uncertainty about tax rates for 2011 (now less than three months away), business planners may be finding it more difficult than usual to project economic conditions or the financial implications of prospective hiring and investment commitments. While it is hard to estimate the magnitude of the effects of these fears, or to disentangle them from general expectations of weak demand growth, they are too broad and deep for me to dismiss as implausible the notion that they have significantly dampened consumer and business spending of late.”
The American people know that unemployment at 9.8 percent is no time to raise taxes on anyone. Last month only 31 percent of Americans told Gallup that raising taxes on the wealthy was the best approach for dealing with the U.S. economy. By contrast, 62 percent chose either reducing the deficit (39 percent) or cutting taxes (23 percent) as the best approach. And this week, by a 59 percent to 30 percent margin, Americans tell the Associated Press and CNBC that Congress should cut federal spending rather than raise taxes.
The left got shellacked at the polls last moth for a reason: The American people have fundamentally rejected their agenda. But they are completely undeterred. Whether it is taxes, spending, amnesty, New START, energy—the issue doesn’t matter. The leftist majorities in Congress know they have just weeks left in power. They already lost the election. Therefore they have no reason not to force as much of their agenda through as possible, no matter how unpopular it is. Conservatives in Congress should do everything in their power to stop this leftist legislative onslaught until a more representative Congress is sworn in next month.
Quick Hits:
- According to the National School Boards Association, First Lady Michelle Obama’s child nutrition bill gives the federal government the power to ban bake sales.
- Republicans are planning to preserve current Medicare doctor payment levels by de-funding Obamacare.
- Responding to mounting state debts to government union pensions, Republicans introduced a bill last week denying states the ability to sell tax-exempt bonds unless they report their true pension liabilities.
- Contrary to past White House promises, diplomatic cables now reveal that the Obama Administration did kill missile defense in Europe in exchange for Russian sanctions on Iran.
- Where can Congress cut spending? Watch our latest video for answers.
Comment:
Yes! COMPLETELY, 100% UNDETERRED; But Not For Any Published in any location, including Fox News!
BECAUSE OF THE PROMISED MONEY TO START-UP: —”Patient Protection and Affordable Act with Usurped 100% of the private ‘College Loan” programs. This fact has allowed the Department of Education to formulate 32 CFR 600…’Program Integrity Issues’. The word ‘integrity’ has nothing to do with “Religion and Morality”, Nor does it have anything to do anyone involved in this writing it, to “..shall be bound by Oath or Affirmation, to support this Constitution – which means ALL of this Document, and its Twin – The Declaration; and especially Article IV:2,4! The word ‘administration’, as long as our government, at any level of governing, allows a very, unConstitutional “Closed Shop”; union’s will “rule and write regulations” which are Not Law and are never viewed, by any person directly elected by “We the People” — including the President of the United States of America. Unions have never grown-up in responsibility from their beginnings of industrial mining, shipping; criminal-force too many times, if only because of force of membership and concomitant removal of several million, individual, rights to liberty. Unions remain a bulwark for Socialism.
Here’s one example that pops-up any ‘Constitutional Conservative: ‘Integrity’ has everything to do with 30 changes which “strengthen and improve administration of the programs authorized under HEA”. The three working words are ‘strengthen and improve administration’. Why? Has absolutely nothing to do with the Webster or Oxford dictionaries’ definitions of the words. You have to change your thinking to Saul Alinsky’s “The End Justifys the means”: “In a separate chapter he suggests that the perennial question, “Does the end justify the means?” is meaningless as it stands: the real and only question regarding the ethics of means and ends is, and always has been, “Does this particular end justify this particular means?” These rules of the ethics of means and ends are only one chapter of his book, totally distinct from his “clear set of rules for community organizing.”(from Wikipedia, “Rules for Radicals”).
Reasons why the Socialists cannot allow the wealthy to be included in the Bush Tax Program (Didn’t our Former President have ‘Fore-Sight’:-)! I smile every time everyone has to use one of the Best President’s in US History, name!! It’s millions of votes for Life, Liberty, and the Pursuit of Happiness from God rolled into one location – our taxes – which have no limit – except the self-imposed, ‘Religion and Morality’ of our Republican Form of Government. And so ‘We the People’ can see, learn, understand that allowing any, but a Republic try to rule US(A); that the outcome Shall Always Be The Same: Few men, in the Executive Branch, with closed-shop union, regulation writing via non-elected cabinets with non-identified Czars working “to help the President learn his Office” from 1/20/09 supporter-lemmings — like Dodd, Frank, Reid, Pelosi — Shall, with vigor and force — spend the United States of America and it “Posterity-children” out of Both Our Documents of Individual rights and duties – Under God.
—”The Financial Stability Act” ; This is the empowerment:HR4173 by Barnie Frank -Charles Dodd (so much for the example of ethics defined by committee in government) WITHOUT Cosponsors— “Wall Street Reform and Consumer Protection Act of 2009 – Title I: Financial Stability Improvement Act – Financial Stability Improvement Act of 2009 – (Sec. 1000A) Directs the Comptroller General to audit and report to Congress within two years after enactment of this Act on all actions taken by the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the federal reserve banks during the current economic crisis.
Subtitle A: The Financial Services Oversight Council – (Sec. 1001) Establishes the Financial Services Oversight Council, consisting of the heads of specified federal financial regulatory bodies and chaired by the Secretary of the Treasury. Requires the Council, among other things, to: (1) advise Congress on financial domestic and international regulatory developments, including insurance and accounting developments, and make recommendations to enhance the integrity, efficiency, competitiveness, and stability of the U.S. financial markets; (2) monitor the financial services marketplace to identify potential threats to the stability of the U.S. financial system; (3) subject financial companies and activities to stricter prudential standards; (4) recommend that a member Council agency adopt stricter prudential standards for the firms it regulates in order to mitigate systemic risk; and (5) resolve, upon request, a jurisdictional dispute between member Council agencies.”
Everyone who calls themselves American, look at this, learn from it; and teach your children – because you cannot be too busy to teach ‘Religion and Morality’ with the Duties of Birth-right or Naturalization-right; and because public education – Shall Not obey either The US or The State Constitutions in teaching anything, except Revisionist, politically correct, interpretation of those old men writing the Declaration, “who never spoke of slavery, but all owned slaves.”(from “American History, the Revolution”).
For these Socialists, it is the amount of money they need to continue their “ingraining of Socialism” only slightly disguised as “Democracy”, with perhaps a bit of Progressive……But Never, Never a Creator of “powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them,..”!!!!
This comment enlarges the Socialist need for power and $$$$$$$$$$$$$..., to them, it doesn't matter where or who gives them their 'government-owned' money. This writer hates the word "oversight". All it says is oops! Then makes up some kind of -after-the-fact-repair; not in light of the "Inner Power" Constitutions and Declaration; only in the perpetuations of humankind-based errors. God, His son Jesus, with our Founders - have written instructions for each individual in the world - not just here in our Nation - for those people and leaders who want to share in the Glory and in the Salvation that is part of God, the Father - His Son, Jesus - our Holy Ghost - and Our Founders.
The Correct Word is ACCOUNTABILITY with the principles of "Quality Circles" medicine has been using for years, in all levels, departments, sections, statistics with responsibility to "do No Harm" with "Hippocratic Oath" what-ever version you like!! The Oath to the Constitution Is The Same Thing!!!!
