Obama's deficit plans run into economic reality

Finally, Earth to Obama!!! The president is understanding reality.

(AP) LOS ANGELES-- President Barack Obama headed west to sell his big picture deficit-reduction plan. But many people are waiting for a quick fix to their own economic problems caused chiefly by persistent unemployment and the crippled housing market.

Audiences in California and Nevada understood why it's important to get a handle on the deficit over the long term. Yet they made clear that the economic recovery hasn't fully taken hold in ways that are meaningful to them.

As Obama shifts into re-election mode, he will need to show that he hasn't lost his focus on jobs even as the conversation in Washington swings to paying down what the nation owes.

An audience member at Obama's town hall meeting Wednesday at Facebook headquarters in Palo Alto, Calif., summarized how the increased attention on red ink looks to the public.

"At the beginning of your term you spent a lot of time talking about job creation and the road to economic recovery," the questioner told the president. "Since then, we've seen the conversation shift from that of job creation and economic recovery to that of spending cuts and the deficit."

"I would love to know your thoughts on how you're going to balance these two going forward, or even potentially shift the conversation back," she added.

Obama said that unless lawmakers get the country's long-term finances under control, more immediate economic gains could prove difficult.

Actually, We Have 10 percent Unemployment

The unemployment figures provided monthly by the government are always revised and can never paint a true picture of the job market. With the manipulations by the Obama government, Americans can't trust what bogus unemployment numbers the government projects. Therefore, Gallup provides an actual real number of our current state of our economy. Without seasonal adjustments, this country had a 10% unemployment in the month of March. It is a decreasing trend, but still way above the psychological threshold of 8%. Underemployment gives a true picture of our job market and it fell 19.3%. This is really high, and it is not surprising that the government won't disclose it.

(Gallup) PRINCETON, NJ -- Unemployment, as measured by Gallup without seasonal adjustment, was 10.0% in March -- down from 10.2% in mid-March and 10.3% at the end of February, but above the 9.8% at the end of January. U.S. unemployment was 10.4% at the end of March a year ago.

Underemployment combines part-time workers wanting full-time work with those who are unemployed. Both groups' readings fell in March; consequently, underemployment also fell, to 19.3% from 19.9% in mid-March and at the end of February. Underemployment was more than a full percentage point higher one year ago.

The percentage of part-time workers who want full-time work was 9.3% at the end of March -- down from 9.7% in mid-March and 9.6% in both February measurements. The current percentage remains higher than the 9.1% at the end of January but lower than the 10.0% of a year ago.

Democrats Game Plan is to Blame Republicans for a Government Shutdown

The Democrats game plan is a scare tactic using class warfare as their initial assault. Next will be a cowardly blame game on the Republican party. This is typical of Democrats. It would be wiser to follow the Wisconsin Democrats and leave town. This whole thing is a joke. The Democrats are claiming that cutting $100 billion will affect society adversely. The budget deficit is in the trillions of dollar and the Democrats are complaining $100 billion. Let the shutdown of the government happen. This time around the American people understands the dilemma this country faces. The American people are more educated that Washington is corrupt. It is ironic how the Democrats are trying to find their way to the American people after ignoring them for the past 4 year. Democrats in Washington are a bunch of scumbags.

(The Hill) Democrats headed back to their districts for the Presidents Day recess hope to drive home the message that Republicans should be blamed if the fight over spending cuts ends in a government shutdown.

House Democrats were still deciding Friday on how much advertising to buy during the week, but they had settled on a message of pointing out specific cuts in the House GOP spending bill and portraying them as unreasonable, a Democratic strategist said.

Democrats will tell constituents that the GOP bill will kick 218,000 children out of Head Start, cause 7,000 special education teachers to loose their jobs, devastate cancer and diabetes research and deny assistance to homeless veterans.

Key part of the Democrats’ messaging strategy will be to place the blame on the Republicans if an agreement on the CR can not be reached and the government is forced to shut down.

If Republicans cuts are successfully painted as unreasonable, then it is easier to blame them if a shutdown occurs, a Democratic aide said.

One aspect of the message is that the spending bill “destroys jobs” at a time of economic recovery. It says Democrats will trim spending by “going after tax loopholes and wasteful subsidies, instead of the reckless and indiscriminate cuts in the GOP spending plan.”

Democrats will also point to efforts they were made by their party to save American jobs. They will highlight attempts to pass a Build America Bonds initiative and a bill ending government contracts for companies that offshore jobs, according to the House Democrats “District Work Plan.”

The Man Who Will Be President One Day

The Answer is U.S. Congressman Lt. Col. Allen West. He will put honor back in the Oval Office, strengthen the military, curb aggression around the world, make conservatism as the norm, and bring patriotism and America's exceptionalism back to where it belongs. I will be looking forward for the day when a true black president can emerge and bring respect back to America. Allen West will have to establish his merits in Congress before pursuing the presidency. Once he understands the politics in Washington, Lt. Col. Allen West can lead this country forward.

(NewsMax) Allen West tells Democrats to "Grow-Up!"

“Over this past week I have watched and listened to members of the House of Representatives from across the aisle.

“I am appalled at their ignorance, belligerence, and dishonest rhetoric filled with empty emotional platitudes. Have they no shame in realizing that their inept, incompetent failures are the reason why we are debating this continuing resolution. They failed to pass a budget during the 111th Congress.

“Have they no honor in realizing that their fiscal irresponsibility over the past four years has resulted in our standing on the precipice of a fiscal canyon from which we may not recover.

“Also troubling are the events in the state of Wisconsin which mirror those that happened in Greece several months ago. We are witnessing the abject hostility of a unionized entitlement class that is being lauded by the liberal left, seemingly to include our President.

“It is such a critical time for our Republic, yet there seems no visionary leadership — it is as if America stopped producing adults. I have never seen a greater assembly of petulance and sophomoric behavior as what I have witnessed this week on the floor of the House of Representatives.

“To those across the aisle, please explain to the American people how your economic policies have created a better environment for long-term sustainable growth.

“This debate is about jobs and the economy.

“It begins with remedying the spending problem on Capitol Hill. It includes tackling the burdensome taxation and regulation policies strangling our country. It is the understanding that Keynesian tax and spend policies did not grow America’s economy, but the indomitable, entrepreneurial spirit of the American people.

“Government sets the conditions for job and economic growth, it does not create jobs.

“I am pleased that we are having open debate in the peoples’ house. However, there is clearly something lacking in this discourse — the recognition of the failure of the bureaucratic nanny-state liberal policies.

“Rest assured that I will do everything in my ability to stand firm and lead on the principles that make America exceptional.”

UPDATE: Obama Budget Proposes Broader Unemployment Taxes

Forget what Obama said about not raising taxes over the last two year. In today's headlines, Obama wants to increase unemployment taxes. Hypocrite! It would be easier to give business more of a tax break so they can hire employees and expand their business. Therefore, there would be a larger pool of workers to fund the unemployment insurance program. It is commonsense!

(WJS) WASHINGTON—President Barack Obama's budget proposal is expected to give states a way to collect more payroll taxes from businesses, in an effort to replenish the unemployment-insurance program. The plan could cause controversy at a time when the administration is seeking to mend fences with corporate America.

The proposal would aim to restock strained state unemployment-insurance trust funds by raising the amount of wages on which companies must pay unemployment taxes to $15,000, more than double the $7,000 in place since 1983.

The plan, which would take effect in 2014, could increase payroll taxes by as much as $100 billion over a decade, according to a person involved in its construction.

To avoid hitting businesses with a tax increase during the economic recovery, the proposal would delay the new rules until 2014. The plan is expected to be included in Mr. Obama's budget proposal for fiscal 2012, to be released Monday.

The Real Reason Why Unemployment is 9.0%

(Zero Hedge) At 64.2%, the labor force participation rate (as a percentage of the total civilian noninstitutional population) is now at a fresh 26 year low, the lowest since March 1984, and is the only reason why the unemployment rate dropped to 9% (labor force declined from 153,690 to 153,186). Those not in the Labor Force has increased from 83.9 million to 86.2 million, or 2.2 million in one year! As for the numerator in the fraction, the number of unemployed, it has plunged from 15 million to 13.9 million in two months! The only reason for this is due to the increasing disenchantment of those who completely fall off the BLS rolls and no longer even try to look for a job. Lastly, we won't even show what the labor force is as a percentage of total population. It is a vertical plunge.

Gallup: Actual Unemployment 9.9%, Actual Underemployment 19.2%

Gallup data gives probably the best unemployment figures base on proper data used. Therefore, unemployment should be close to 9.9% and the underemployment figures should be close to 19.2%. In order to protect Obama from further embarrassment, the US Bureau of Labor Statistics gave us a ridiculous number to quell the inadequacies of the president's policies.

Click here to see chart: Gallup Daily: U.S. Employment

(Gallup) Gallup's U.S. employment measures report the percentage of U.S. adults in the workforce, ages 18 and older, who are underemployed and unemployed, without seasonal adjustment. "Underemployed" respondents are employed part time, but want to work full time, or they are unemployed. "Unemployed" respondents are those within the underemployed group who are not employed, even for one hour a week, but are available and looking for work. Results for each 30-day rolling average are based on telephone interviews with approximately 30,000 adults. Because results are not seasonally adjusted, they are not directly comparable to numbers reported by the U.S. Bureau of Labor Statistics, which are based on workers 16 and older. Margin of error is ± 0.7 percentage points.

The Godfather of the Tea Party Movement Lashes Against Unemployment Report

The godfather of the Tea Party Movement Rick Santelli couldn't contain himself with the rhetoric that the unemployment numbers dropped to the lowest figure not seen in years. The figures are again manipulated since the unemployment rate does not account those who quit looking for work. It is commonsence that unemployment can't drop that dramatically when 36,000 jobs were created last month. That is an impossible feat.

(Media Research Center) Jobs are heading up and down at the same time. The Bureau of Labor Statistics announced the morning of Feb. 4 that only 36,000 jobs were added in the month of January, but the unemployment rate dropped from 9.4 percent to 9.0 percent.

The mainstream news media will likely latch on to the dropping unemployment rate, despite job gains that were less than one-fourth of the consensus estimate of 148,000 jobs added. One of the CNBC panelists noted that the increase was "way below consensus."

CNBC's Rick Santelli even lashed out at some of the CNBC "Squawk Box" panel that were discussing the latest jobs report.

CNBC's Steve Liesman interjected: "It went down, Rick. It went down - "

Santelli continued to criticize the spin: "You know what Steve? You and I both know that the unemployment rate, the labor force moving in and out, those giving up, is really probably your best statistical reason for the drop to 9.0 (percent). And in terms of jobs, you, Mr. Steve Liesman, said if you work just one day. If you stay home but you get paid you're counted in the data …"

But the fact that the two different economic surveys conducted by the BLS were moving in different directions was baffling to many. Even the liberal Economic Policy Institute noted on its blog that the picture was "muddled."

Obamacare Repeal Failed in Senate But There is Still Hope

The fight is not over......

(The Hill) The Senate on Wednesday voted down a repeal of President Obama’s healthcare law in a 47-51 party-line vote.

The vote came two weeks to the day the Republican House voted 245-189 to repeal the law, and just days after a federal judge ruled Obama’s signature legislative achievement is unconstitutional.

Republicans have vowed to carry the fight forward, saying they will seek to de-fund the law as it is implemented. The GOP also has promised Wednesday’s repeal vote will not be the last in this Congress.

The Tea Party Response for the State of the Union

A brilliant response by the Tea Party Movement. Great solutions to the problem we face. The prepared speech explains the dire problem we are currently in, and points out the fact that Obama didn't do anything in his first two years of office.

(CNN Politics) As prepared for delivery in response to the SOTU:

Good evening, my name is Congresswoman Michele Bachmann from Minnesota’s 6th District.
Two years ago, when Barack Obama became our President, unemployment was 7.8 percent and our national debt stood at what seemed like a staggering $10.6 trillion dollars.We wondered whether the President would cut spending, reduce the deficit and implement real job-creating policies.

Unfortunately, the President’s strategy for recovery was to spend a trillion dollars on a failed stimulus program, fueled by borrowed money.

The White House promised us that all the spending would keep unemployment under 8 percent.
Not only did that plan fail to deliver, but within three months the national jobless rate spiked to 9.4 percent. And sadly, it hasn’t been lower for 20 straight months. While the government grew, we lost more than 2 million jobs.

Let me show you a chart. [CHART]

Here are unemployment rates over the past ten years. In October 2001, our national unemployment rate was at 5.3 percent. In 2008 it was at 6.6 percent. But, just eight months after President Obama promised lower unemployment, that rate spiked to a staggering 10.1 percent.

Today, unemployment is at 9.4 percent with about 400,000 new claims every week.
After the $700 billion bailout, the trillion-dollar stimulus, and the $410 billion spending bill with over 9,000 earmarks, many of you implored Washington to please stop spending money we don’t have.

But, instead of cutting, we saw an unprecedented explosion of government spending and debt, unlike anything we have seen in the history of our country.

[CHART]

Deficits were unacceptably high under President Bush, but they exploded under President Obama’s direction, growing the national debt by an astounding $3.1 trillion-dollars.

What did we buy?

Instead of a leaner, smarter government, we bought a bureaucracy that tells us which light bulbs to buy, and which will put 16,500 IRS agents in charge of policing President Obama’s healthcare bill.

ObamaCare mandates and penalties will force many job creators to stop offering health insurance altogether, unless yours is one of the more-than-222 privileged companies or unions that has received a government waiver.

In the end, unless we fully repeal ObamaCare, a nation that currently enjoys the world’s best healthcare may be forced to rely on government-run coverage that will have a devastating impact on our national debt for generations to come.

For two years President Obama made promises just like the ones we heard him make tonight. Yet still we have high unemployment, devalued housing prices and the cost of gasoline is skyrocketing.

Here are a few suggestions for fixing our economy:

The President could stop the EPA from imposing a job-destroying cap-and-trade system.

The President could support a Balanced Budget Amendment.

The President could agree to an energy policy that increases American energy production and reduces our dependence on foreign oil.

The President could also turn back some of the 132 regulations put in place in the last two years, many of which will cost our economy $100 million or more.

And, the President should repeal ObamaCare and support free market solutions like medical malpractice reform and allow all Americans to buy any healthcare policy they like anywhere in the United States.

We need to start making things again in this country, and we can do that by reducing the tax and regulatory burdens on job creators.

America will have the highest corporate tax rate in the world. Look no further to see why jobs are moving overseas.

But, thanks to you, there’s reason to hope that real spending cuts are coming. Last November you went to the polls and voted out big-spending politicians and you put in their place men and women with a commitment to follow the Constitution and cut the size of government.

I believe that we are in the early days of a history-making turn.

Please know how important your calls, visits, and letters are to the maintenance of our liberties. Because of you, Congress responded and we are starting to undo the damage that’s been done.

We believe in lower taxes, a limited view of government and the exceptionalism of America. And I believe America is the indispensible nation.

Just the creation of this nation was a miracle. Who’s to say that we can’t see a miracle again?

The perilous battle that was fought in the pacific, at Iwo Jima, was a battle against all odds, and yet the image of the young G.I.s in the incursion against the Japanese immortalizes their victory.

These six young men raising the flag came to symbolize all of America coming together to beat back a totalitarian aggressor.

Our current debt crisis we face today is different, but we still need all of us to pull together. We can do this.

And that’s the hope we hold tonight as Americans. We will push forward to reclaim the greatness of our country and to proclaim the liberty upon which we were founded.

And we will do so because we the people will never give up on this great nation.

God bless you, and God bless America.

The State of the Union is Full of Empty Promises

From (HotAir), they gave some important highlights from the SOTU. CBS poll showed that 44% who watch the SOTU were Democrats and 25% Republicans. It was a good speech, but it was 2 years too late. Obama gave some good ideas, but not enough to improve jobs and the economy. With 14 trillion in debt, a weakened dollar, and very high unemployment, the most important fix is to end wasteful spending and fix the tax system, which is almost impossible.

Highlights:

So tonight, I’m asking Democrats and Republicans to simplify the system. Get rid of the loopholes. Level the playing field. And use the savings to lower the corporate tax rate for the first time in 25 years – without adding to our deficit.

Now, I’ve heard rumors that a few of you have some concerns about the new health care law. So let me be the first to say that anything can be improved. If you have ideas about how to improve this law by making care better or more affordable, I am eager to work with you. We can start right now by correcting a flaw in the legislation that has placed an unnecessary bookkeeping burden on small businesses

But now that the worst of the recession is over, we have to confront the fact that our government spends more than it takes in. That is not sustainable. Every day, families sacrifice to live within their means. They deserve a government that does the same.

So tonight, I am proposing that starting this year, we freeze annual domestic spending for the next five years. This would reduce the deficit by more than $400 billion over the next decade, and will bring discretionary spending to the lowest share of our economy since Dwight Eisenhower was president.

The bipartisan Fiscal Commission I created last year made this crystal clear. I don’t agree with all their proposals, but they made important progress. And their conclusion is that the only way to tackle our deficit is to cut excessive spending wherever we find it – in domestic spending, defense spending, health care spending, and spending through tax breaks and loopholes.

This means further reducing health care costs, including programs like Medicare and Medicaid, which are the single biggest contributor to our long-term deficit. Health insurance reform will slow these rising costs, which is part of why nonpartisan economists have said that repealing the health care law would add a quarter of a trillion dollars to our deficit. Still, I’m willing to look at other ideas to bring down costs, including one that Republicans suggested last year: medical malpractice reform to rein in frivolous lawsuits.

To put us on solid ground, we should also find a bipartisan solution to strengthen Social Security for future generations. And we must do it without putting at risk current retirees, the most vulnerable, or people with disabilities; without slashing benefits for future generations; and without subjecting Americans’ guaranteed retirement income to the whims of the stock market.

Obama to make earmark threat promise in State of the Union - TheHill.com

We will see...........

Obama to make earmark threat promise in State of the Union - TheHill.com

President Drops Entitlement Reform for More Spending in the State of the Union

Instead of taking the opportunity to increase his jobs approval numbers, Obama will talk about more spending and avoid speaking about entitlement reform in the State of Union. Liberal ideology takes a precedence over rational thinking. Pushing an agenda that will fundamentally change this country in an adverse way is the only priority Obama has right now. Weakening this country with irreversible programs will lead to the destruction of the United States. Obama doesn't care. He and his family will be taken care of from the powers that run this country- POWERFUL BANKS.

(Race42012) In yet another bout of political cluelessness, the president has declined a golden opportunity to triangulate and will not be pushing entitlement reform in his State of the Union address tomorrow night. This is akin to finding a winning lottery ticket on the sidewalk and tossing it into the garbage. By advocating real, even if left-of-center, entitlement reform, President Obama would have been able to recast himself as a Clinton-style fiscal moderate at a time when his approval rating is on the uptick, and during a post-tragedy era, when Americans want to like their president again.

The reasons that a presidential call for entitlement reform would have been pitch perfect tomorrow night are legion. First, even though the economy is no longer in recession, unemployment remains high, and the average voter, while not an economist, intuits that there are major, structural problems with the American economy that need to be solved. Unfortunately, solving problems often costs money, especially when liberals are the ones coming up with the solutions. The reality is that many of our economic problems are due to irrational economic actions that are the result of public policies that disincentivize rational behavior.

That’s why entitlement reform would have solved Obama’s many woes. First of all, the savings that would be generated from a major overhaul of Social Security and Medicare would far outweigh any new spending that Obama will likely propose tomorrow night. Secondly, entitlements are the primary cause of the long-term debt issue. And third, entitlement reform, particulary of the sort that means-tests entitlements and cuts the benefits of affluent seniors, would largely impact a voting bloc that Obama has already lost anyway, and would bait Republicans into doubling down on their “early bird special” strategy that they seem to be intent on embracing, where the GOP targets older, white voters, who are a lagging, not leading, indicator of where the nation is headed.

By passing up this opportunity to make the case for entitlement reform, the president may be about to give away his newfound majority support in the polls. Americans are going to hear lots of new spending proposed by the president tomorrow night, but no way to pay for that spending, and no way to prevent the looming fiscal crisis. Suburban independents, who tend to be Concord Coalition types who hate deficits and debt, may find themselves torn between a president that they want to like, and policies that they know simply don’t add up. That will open the door a tad for the GOP in 2012, a door that had been closing over the past couple of months.

Even After a Democrat Shellacking in November Obama Wants to Spend More Money

Obama is clueless what occurred in the last November election. The president admitted that the Democrats took a severe shellacking, but that is not going to stop Obama from spending more. At the present, we are going to hit the debt ceiling in the next couple months, and the Republicans are adamant to cut spending. In the past year, a series of stimulus packages gave us an above 9 percent unemployment or 17% underemployment. In the summer of July 2010 from the (Hot Air) website, they described how Obama was committed to spend $2 Billion to create 5000 jobs. The article went on to say:

Obama proposes spending $2 billion to create a total of 5,100 jobs. That will cost $392,156.87 per job. That kind of money, in the private sector at least, should fund several jobs. Heck, even a government bureaucrat costs less than that; even at the Department of Transportation, that would cover two and have enough left over for a secretary. But that’s not the only folly in this proposal. Of the 5,100 jobs Obama promises, only 1,500 of them are permanent jobs. The others are construction jobs, which will only last as long as the money flows to the project. That means we will spend over $1.3 million per “permanent” job in building this “green economy,” which looks more like a red-ink economy with even a cursory check of the numbers.

This example is nothing short of shocking. There was an example of a Los Angeles county given a stimulus of several million dollars and that produce 55 jobs. It is important to understand that the government role is never intended to create jobs. The real jobs are created by the private sector. The governments role is to spend our money. Therefore, Obama had no intent in changing his ways after the election.

(WSJ) President Barack Obama will call for new government spending on infrastructure, education and research in his State of the Union address Tuesday, sharpening his response to Republicans in Congress who are demanding deep budget cuts, people familiar with the speech said.

Mr. Obama will argue that the U.S., even while trying to reduce its budget deficit, must make targeted investments to foster job growth and boost U.S. competitiveness in the world economy. The new spending could include initiatives aimed at building the renewable-energy sector—which received billions of dollars in stimulus funding—and rebuilding roads to improve transportation, people familiar with the matter said. Money to restructure the No Child Left Behind law’s testing mandates and institute more competitive grants also could be included.

While proposing new spending, Mr. Obama also will lay out significant budget cuts elsewhere, people familiar with the plans say, though they will likely fall short of what Republican lawmakers have requested.

Besides a bump in approval numbers Obama still has 10 things to worry about

In a recent poll, Obama's approval numbers have improved, but it is uncertain why people felt he is doing a good job. In fact, some polls suggest that the president's handling of the Texas shooting or the lack there of contributed to the bump in the poll numbers. This should not illustrate a comparison with Bill Clinton that Obama is running to the center. It should illustrate that this country is in trouble with someone inexperience pretending to be president.

(Human Events) These are unsettling times that we live in. Not to be a downer, but here are the Top 10 Things to Worry About:

1. Out-of-control deficits: With trillion-dollar budget deficits projected for years and the national debt hitting $14 trillion, this mountain of red ink will come crashing down at some point. Add ballooning entitlements to the mix and the country’s financial status is a recipe for disaster. Watch the wreckage as cash-strapped state governments start going bankrupt and project the resulting chaos to the national level.

2. Terrorism: Whether it is homegrown terrorists or al Qaeda plotting overseas, the threat of jihadist attacks against America remains high. The fact that we haven’t had a major terror attack since 9/11—thanks in large part to alert citizens and inept bombers—should not lull us into complacency. The Obama Administration’s refusal to acknowledge that radical Islam is the enemy puts the nation at risk.

3. Healthcare system at risk: Healthcare costs are rising, doctors are fleeing and Obamacare is certain to make matters worse. And if you think things are bad now, Medicare will soon be under severe strains as Baby Boomers are just starting to become eligible for benefits. With 30 million people being added to the existing healthcare system under Obamacare, good luck getting an appointment with a doctor.

4. Stubborn unemployment: Where are the jobs? The unemployment rate has been above 9% since April 2009 and it is likely to remain high for years. And the rate is closer to 17% when taking into account those who have stopped looking for work or are forced to work only part-time. Matters likely could get worse as state and local governments are starting to shed jobs that were sheltered by federal stimulus money and businesses show no sign of adding to their payrolls with so much economic uncertainty.

5. Inflation: The Fed can’t keep printing money without eventually eroding the value of the dollar. Fed Chairman Ben Bernanke’s quantitative easing will only add to the inflationary pressure. To those who say inflation is not a worry, have you been to the grocery store or gas pump lately?

6. Rogue nations: The madmen in charge in North Korea and Iran are intent on flexing their nuclear muscles and America remains their enemy. Obama’s campaign pledge to talk to the ruling despots hasn’t panned out and it seems to only be a matter of time before one of these powder kegs erupts.

7. China: China owns our debt and is pouring money into its military. China’s President Hu says the dollar-dominated currency system is a “product of the past.” America was the world’s sole superpower for some 20 years, but will be tested by China’s economic and military might.

8. Crime: Crime is a persistent problem in America with high rates of violence in many of the nation’s cities. With murder and mayhem increasing to epidemic levels just across the border in Mexico, is it only a matter of time before the cartel’s drug wars spill over to the U.S.?

9. Housing market: Is your house underwater? A good many Americans are in that situation and are unlikely to see it get better any time soon. The housing market was so high when it crashed that prices are unlikely to ever recover.

10. Obama Administration: With the Democrats losing the House, liberals will not be able to push their agenda through Congress. But the Obama Administration can enact measures via administrative fiat. Just look at how the Environmental Protection Agency is starting to regulate greenhouse gases after cap-and-trade failed legislatively as an example of the administration circumventing the will of the people.

After Manipulating the Unemployment Figures 9.4 Percent is Still High

The current unemployment figures is manipulated and does not reflect the true unemployment figures in America. In fact, underemployment went to 19%. This is something no media outlet is willing to report. With the holiday season done, let's see what the unemployment figure will look like nexst month. The point is that unemployment will remain above 9 percent for the rest of Obama's term in office. This is unacceptable to the American people!

(MailOnline) President Obama insisted America was 'digging itself out of hole' today as new figures offered a glimmer of hope for the country's beleaguered economy.

103,000 new jobs were created last month and the unemployment rate dropped to 9.4 percent, its lowest level in 19 months, the Labor Department said.

But the job growth fell short of expectations and the drop in unemployment was mainly because people stopped looking for work.

But other factors can affect the unemployment rate, at least temporarily. One key reason for the drop was that the government no longer counts people as unemployed when they stop looking for work.

Fewer people said they were out of work last month. The number of unemployed fell by more than 500,000 to just under 14.5 million, the lowest since April 2009.

Still, the unemployment rate has topped 9 percent for 20 months, the longest such streak on record. And even with last year's job gains, the unemployment rate fell only from 9.7 percent to 9.4 percent.

Federal Reserve Chairman Ben Bernanke offered a more optimistic outlook for the economy while testifying before the Senate Banking Committee on Friday.

Still, Bernanke said it could take four to five years for unemployment to drop to a historically normal rate of around 6 percent.

Through all of 2010, the nation added 1.1 million jobs, or an average of 94,000 jobs a month.

Consumer Confidence Shows Surprise Drop in December

Before the media blast how sales during the Christmas season was fantastic, the reality is that we are still in a recession and the economy still sucks.

(CNBC) U.S. consumer confidence unexpectedly deteriorated in December, hurt by increasing worries about the jobs market, according to a private report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes slipped to 52.5 in December from an upwardly revised 54.3 in November.

The median of forecasts from analysts polled by Reuters was for a reading of 56.0.

Obama and 9.8% Unemployment

As mentioned last month, the media can make up stuff to paint a rosy picture, but realistically, the numbers do not lie. Last month, the good news on consumer sentiment and economic figures are always short lived. The media and the government tend to manipulate the narrative. America continues to live in a deep recession. The current state of the economy is not Bush's fault. During the Bush era, unemployment was on average 5.3%. In 20 months under Obama rule, unemployment remains over 9%. If voters want another Obama term, expect this recession turn to a great depression.

Wall Street Journal U.S. employers added just 39,000 payroll jobs in November, a sharp slowdown from the prior month, the Labor Department said. The unemployment rate jumped to 9.8% from 9.6% in part due to more people joining the labor pool.

But with 15.1 million people classified as unemployed, and millions more on the sidelines who have given up searching for work, the road to finding a job remains bleak for many Americans. More than 6.3 million people in November had been out of work for six months or more, up 100,000 from the prior month.

Boston College Law student asks for money back

This is why students, who have no idea what is happening outside of the academia, should not vote until they are in the working world. It seems a third-year Boston College Law School student is accepting reality. With high unemployment, the law student is facing an enormous student loan debt and dismal job prospects. The message is resonating among other students as they offered the message: Keep the degree ... and give me back my tuition!

While students in high school and college frolic behind the wall of higher learning, this nation has been experiencing 14 months of high unemployment above 9%. If the idea of living in the moment means more to them, it will eventually catch up when they step foot in the real working world.

I offered this advice pro bono, "Vote wisely not because you want lower college cost, but you want a job after college. Get the Democrats out of office!"

Read post: BC Law student asks for money back