Resources

Who Controls America — George Carlin — Videos

Posted on May 15, 2013. Filed under: American History, Banking, Blogroll, College, Communications, Diasters, Economics, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, High School, history, Inflation, Investments, Language, Law, Life, Links, Macroeconomics, Monetary Policy, Money, People, Philosophy, Politics, Raves, Religion, Resources, Security, Strategy, Talk Radio, Tax Policy, Technology, Video, War, Wealth, Wisdom | Tags: , , , , , , , |

goerge_carlin

The Owners of the Country

Entropy fan

The Genius George Carlin

George Carlin: Brain Droppings

George Carlin Interview

george_carlin_nature

Read Full Post | Make a Comment ( None so far )

The Coming U.S. Stock and Bond Market Crash of 2013-2014 — The Stock and Bond Big Bubble Burst — Central Banks Buying Gold! — Videos

Posted on April 27, 2013. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Computers, Constitution, Crime, Demographics, Diasters, Economics, Education, Employment, Energy, European History, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, Health Care, history, History of Economic Thought, Immigration, Inflation, Investments, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Public Sector, Radio, Rants, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Television, Transportation, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

burstbubble

Great_recessionGreat_Depression

Fed-Reserve-Balance-Sheet

fed-dollars-2003-2012fed-balance-sheet-2016

federal_reserve_balance_sheet

Federal_funds_rate

QE-Fed-BalanceSheet-SP500-020413

BREAKING 2013 Economic Collapse Peter Schiff

Overdose: The Next Financial Crisis

David Stockman: We’re in a Monetary Fantasy Land

Ben Bernanke Is The Most Dangerous Man In US History

US BOND BUBBLE’S READY TO BURST!

Max Keiser: Propped Up Bond Market Set To Burst In April

U.S. Government Bond Bubble to Burst, Faber Says 

James Grant and James Turk discuss gold, the Fed and the fiscal situation of the USA

USA Will Die – Economic Collapse 2013 – Jim Rogers

JIM ROGERS – 2013 to Be Bad, ‘God Knows What Will Happen in 2014′

Jim Rogers Predicts Global Depression In 2013-2014

Peter Schiff on Max Keiser – Stopping the Global Financial Crisis

Keiser Report: Psyops & Debt Diets

Max Keiser: Will the next crash be on Bonds?

MAX KEISER: Colossal Collapse Coming! Keiser Report

MAX KEISER: Colossal Collapse Coming! Keiser Report

ALEX JONES & Max Keiser 2013, Year of The GREAT CRASH!

Peter Schiff – Dollar Could Collapse This Fall 2013

Peter Schiff – Economic Collapse 2013

Fed Will Keep Printing Until The Dollar Collapses~ Jim Rickards

Jim Rickards  Gold is Money ($7,000 Gold Price)

James Rickards Predicts US Inflation in 2013 due to the Devaluation of the US dollar

Currency Wars: Jim Rickards

Financial Pearl Harbor’ is a Real Threat Warns a Pentagon Adviser

CNBC Global Recession Is Coming – Marc Faber

Dr. Marc Faber – US is in 50-100 trillion worth of debt!

Marc Faber ‘We Are in the End Game’ Part 1

Marc Faber  ‘We Are in the End Game Part 2

Marc Faber – We Could See a 1987-Like Market Crash – Be Prepared and Get OUT!

Marc Faber-No Government Complies With Anything

Total Economic Collapse, Death of the Dollar, Impovershment, WWIII, Marc Faber Interview

Gerald Celente Deal Or No Debt Deal, The Debt Still Exists

Bill Gross: Economy Faces Structural Headwinds, “I Think We Are Facing Bubbles Almost Everywhere”

ECONOMIC CRASH WORLDWIDE STARTING

Harry Dent predicts global economic crash in 2013

Planned Economic Collapse 2013-2014

Background Articles and Videos

Meltdown (pt 1-4) The Secret History of the Global Financial Collapse 2010

Meltdown (pt 2-4) The Secret History of the Global Financial Collapse 2010

Meltdown (pt 3-4) The Secret History of the Global Financial Collapse.2010 

Meltdown – pt 4-4 The Secret History of the Global Financial Collapse (2010) 

The Fall of Lehman Brothers

Goldman Sachs: Power and Peril – Documentary

The Ascent of Money: A Financial History of The World by Niall Ferguson Epsd. 1-5 (Full Documentary)

The Fall of the Dollar – The Death of a Fiat Currency part 1

The Fall of the Dollar – The Death of a Fiat Currency part 2

The First 12 Hours of a US Dollar Collapse

LIFE HIDDEN TRUTH 2013 GLOBAL FINANCIAL CRISIS

 

Billionaires Dumping Stocks, Economist Knows Why

 

Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.

Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.

In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.

With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.

Unfortunately Buffett isn’t alone.

Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.

So why are these billionaires dumping their shares of U.S. companies?

After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.

It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.

One such person publishing this research is Robert Wiedemer, an esteemed economist and author of the New York Times best-selling book Aftershock.

Editor’s Note: Wiedemer Gives Proof for His Dire Predictions in This Shocking Interview.

Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials.

In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy.

The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice.

A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed . . .”

The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.”

And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.”

In the interview for his latest blockbuster Aftershock, Wiedemer says the 90% drop in the stock market is “a worst-case scenario,” and the host quickly challenged this claim.

Wiedemer calmly laid out a clear explanation of why a large drop of some sort is a virtual certainty.

It starts with the reckless strategy of the Federal Reserve to print a massive amount of money out of thin air in an attempt to stimulate the economy.

“These funds haven’t made it into the markets and the economy yet. But it is a mathematical certainty that once the dam breaks, and this money passes through the reserves and hits the markets, inflation will surge,” said Wiedemer.

“Once you hit 10% inflation, 10-year Treasury bonds lose about half their value. And by 20%, any value is all but gone. Interest rates will increase dramatically at this point, and that will cause real estate values to collapse. And the stock market will collapse as a consequence of these other problems.”

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=110D8-1&utm_source=taboola#ixzz2RhO2R5ey
Urgent: Should Obamacare Be Repealed? Vote Here Now!

http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=110D8-1&utm_source=taboola

Read Full Post | Make a Comment ( None so far )

Police State In Boston–What’s Next? Martial Law: Obama’s National Defense Resources Preparedness Executive Order To Declare Martial Law In Time of Peace — Videos

Posted on April 22, 2013. Filed under: American History, Blogroll, Business, Climate, College, Communications, Diasters, Economics, Education, Employment, Energy, Farming, Federal Government, Fiscal Policy, Food, Foreign Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Literacy, media, Natural Gas, Nuclear Power, Oil, People, Philosophy, Politics, Private Sector, Rants, Raves, Regulations, Resources, Security, Talk Radio, Taxes, Unions, Video, War, Water, Wealth, Weapons, Wisdom | Tags: , , , , |

Martial-Law

 

ExecOrder

executive_order_National_Defense_Resources_Preparedness

thomas_jefferson_tyranny

Police perform house-to-house raids in Watertown MA ripping innocent families from their homes

On Friday, April 19, 2013, during a manhunt for a bombing suspect, police and federal agents spent the day storming people’s homes and performing illegal searches. While it was unclear initially if the home searches were voluntary, it is now crystal clear that they were absolutely NOT voluntary. Police were filmed ripping people from their homes at gunpoint, marching the residents out with their hands raised in submission, and then storming the homes to perform their illegal searches.

Shocking Footage: Americans Ordered Out Of Homes At Gunpoint By SWAT teams

This is what martial law in the US looks like

Steve Watson
Infowars.com
April 22, 2013

Shocking footage has emerged from Friday’s lockdown in Boston, where police, federal agents, national guard troops and SWAT teams enforced door to door searches of everyone’s home within twenty blocks as the entire city was placed under orders to stay off the streets.

The video, shot by a resident from their own house across the street, shows police barking orders at men and women as they order them at gunpoint to identify themselves, put their hands on their heads, and get out of their own home. They are then ordered to run down the street to be further frisked by police as scores of armed militarized cops look on.

The scenes look like something out of a disaster movie, with the backdrop of suburban America juxtaposed with what is essentially martial law playing out in full daylight.

The story floated in the mainstream media that the door to door searches were conducted with the voluntary consent of the residents of Watertown is clearly false. 9000+ Police locked down an entire city and went in with full force, with armored vehicles and combat gear, all to search for an injured 19 year old kid who turned out to be cowering in someone’s back yard.

While armies of police roamed around people’s homes and private property, Public transportation was shut down, businesses were forced to close, and a no-fly zone was enacted over Boston in an unprecedented show of force.

At this point, as military helicopters buzzed over neighborhoods, the Fourth Amendment had ceased to exist in Boston, which quickly resembled a war zone.

The compliant mainstream media reported on the activity without alarm or question. Katy Waldman of Slate wrote an article claiming that under dire circumstances police can suspend 4th Amendment rights against unreasonable searches:

In exigent circumstances, or emergency situations, police can conduct warrantless searches to protect public safety. This exception to the Fourth Amendment’s probable cause requirement normally addresses situations of “hot pursuit,” in which an escaping suspect is tracked to a private home. But it might also apply to the events unfolding in Boston if further harm or injury might be supposed to occur in the time it takes to secure a warrant.

This activity, once again, sets a shocking precedent. Police and military are training in these circumstances every single day of the year. They are fully acclimatized to the process, as if it is completely normal. They do not hesitate in carrying out such orders, which are now being implemented whenever the authorities deem a situation to be an emergency.

This is what fully fledged martial law in America looks like.

http://www.infowars.com/shocking-footage-americans-ordered-out-of-homes-at-gunpoint-by-swat-teams/

Has Watertown Made Warrantless Searches The ‘New Normal’?

April 25, 2013

By Bob Parks

The whole notion of the police “manhunt” is not a new American phenomenon. Cops chase bad guys, cops corner bad guys. Sometimes the bad guys give up quietly, sometimes they go down in a blaze of glory. But we’ve always had rules of engagement when it came to law enforcement interaction with the general public.

It appears all that got thrown out the window in the aftermath of the Boston Marathon terror bombing and the subsequent police chase in Cambridge, Massachusetts that came to a screeching halt in Watertown.

Seemingly, for the first time in the United States, we witnessed paramilitary-garbed law enforcement personnel forcing residents out of their homes at gunpoint. In some cases, the language used by law enforcement was menacing.

Because of the hysteria that comes after any terror event, the American people wanted the perpetrators caught and, in doing so, appeared to have allowed their rights against unlawful search and seizure to not be suspended, but removed.

How many times have we watched cop dramas on television where the police had a pretty good idea of where the bad guys were, but as they weren’t sure, came to the door and asked permission to come inside to “have a look around”? The only time they ever bashed a door in is when they absolutely knew the bad guys were there. If there was ever any doubt, they’d have to wait… for a court order from a judge.

That did not happen here.

The police came to people’s homes, ordered them to leave immediately at the point of a gun in some cases, and then entered their place of residence. It’s never “consensual” when the person asking you for something has a gun in his hand. “Probable cause” is convenient, but in this case, very arbitrary.

Again, I understand this was the culmination of a horrific event, but let’s say instead of the Thursday evening car chase racing through the streets and winding up in Watertown, it went up Route 9 and ended in very upscale Newton?

Do you think armed police would, under the authority of the governor of Massachusetts and the federal government, put an assault rifle nozzle in the face of a potential wealthy political donor? Would those policemen force the family of the elite into the streets while they entered a home that is worth 20 of their salaries combined?

If it weren’t a middle class area like Watertown, would you really see a politician ordering law enforcement to forcibly enter and search homes on the upper west side of Manhattan or Georgetown or Beverly Hills? Would this happen to a celebrity in his home or, heaven forbid, a congressman?

When citizens are searched by pat-down, rousted out of their homes, and we end up thanking the police with blind understanding, the government has essentially found an acceptable means to take more of our rights away without even one politician having to cast a vote.

These past events in Watertown have set a precedent.

The police can now enter our homes anytime they want. It just requires a verbal massaging of the circumstance. After all, who ever heard of “shelter-in-place” before Friday, April 19, 2013?

If the government can order us to stay in our homes, it looks like it can throw us out of them any time it wants… at the point of a gun.

http://cnsnews.com/blog/bob-parks/has-watertown-made-warrantless-searches-new-normal

Systematic House-to-House Raids in Locked-Down Watertown, Massachusetts

Police and FBI Comb Watertown for Bombing Suspect

Boston Bombing: Watertown Operation: SWAT team secures houses searching for Dzhokhar Tsarnaev

Boston Door To Door Searches – Raw Video

Raid on Boston bombing suspect captured on film

Obama signs Executive Order NDRP Martial Law – Hannity Full News Clip Fox News (Mar 19, 2012)

Alex Jones – Obama’s New America with Martial Law

President Obama recently signed an Executive Order giving him the power to implement martial law in the US. The National Defense Resources Preparedness Executive Order will give Obama the power to seize the countries resources in a time of crisis or peace. This includes resources ranging from livestock to sources of energy and water.

Many critics of the Obama Administration believe this is another effort at power grab, but others argue that EO update is irrelevant. Alex Jones, host of The Alex Jones Show, joins RT with his take on the EO.

Obama Signs NDAA Martial Law in America 2012

Obama Signs NDAA Martial Law ∞ Justifying why U have no Rights ? Ron Paul Rohbs new channel

The Final Loss of Freedom in America NDAA.

Scary New NDAA Bill Passed

For Immediate Release
March 16, 2012

Executive Order — National Defense Resources Preparedness

EXECUTIVE ORDER

NATIONAL DEFENSE RESOURCES PREPAREDNESS

By the authority vested in me as President by the Constitution and the laws of the United States of America, including the Defense Production Act of 1950, as amended (50 U.S.C. App. 2061 et seq.), and section 301 of title 3, United States Code, and as Commander in Chief of the Armed Forces of the United States, it is hereby ordered as follows:

PART I  –  PURPOSE, POLICY, AND IMPLEMENTATION

Section 101Purpose.  This order delegates authorities and addresses national defense resource policies and programs under the Defense Production Act of 1950, as amended (the “Act”).

Sec. 102Policy.  The United States must have an industrial and technological base capable of meeting national defense requirements and capable of contributing to the technological superiority of its national defense equipment in peacetime and in times of national emergency.  The domestic industrial and technological base is the foundation for national defense preparedness.  The authorities provided in the Act shall be used to strengthen this base and to ensure it is capable of responding to the national defense needs of the United States.

Sec. 103General Functions.  Executive departments and agencies (agencies) responsible for plans and programs relating to national defense (as defined in section 801(j) of this order), or for resources and services needed to support such plans and programs, shall:

(a)  identify requirements for the full spectrum of emergencies, including essential military and civilian demand;

(b)  assess on an ongoing basis the capability of the domestic industrial and technological base to satisfy requirements in peacetime and times of national emergency, specifically evaluating the availability of the most critical resource and production sources, including subcontractors and suppliers, materials, skilled labor, and professional and technical personnel;

(c)  be prepared, in the event of a potential threat to the security of the United States, to take actions necessary to ensure the availability of adequate resources and production capability, including services and critical technology, for national defense requirements;

(d)  improve the efficiency and responsiveness of the domestic industrial base to support national defense requirements; and

(e)  foster cooperation between the defense and commercial sectors for research and development and for acquisition of materials, services, components, and equipment to enhance industrial base efficiency and responsiveness.

Sec. 104Implementation.  (a)  The National Security Council and Homeland Security Council, in conjunction with the National Economic Council, shall serve as the integrated policymaking forum for consideration and formulation of national defense resource preparedness policy and shall make recommendations to the President on the use of authorities under the Act.

(b)  The Secretary of Homeland Security shall:

(1)  advise the President on issues of national defense resource preparedness and on the use of the authorities and functions delegated by this order;

(2)  provide for the central coordination of the plans and programs incident to authorities and functions delegated under this order, and provide guidance to agencies assigned functions under this order, developed in consultation with such agencies; and

(3)  report to the President periodically concerning all program activities conducted pursuant to this order.

(c)  The Defense Production Act Committee, described in section 701 of this order, shall:

(1)  in a manner consistent with section 2(b) of the Act, 50 U.S.C. App. 2062(b), advise the President through the Assistant to the President and National Security Advisor, the Assistant to the President for Homeland Security and Counterterrorism, and the Assistant to the President for Economic Policy on the effective use of the authorities under the Act; and

(2)  prepare and coordinate an annual report to the Congress pursuant to section 722(d) of the Act, 50 U.S.C. App. 2171(d).

(d)  The Secretary of Commerce, in cooperation with the Secretary of Defense, the Secretary of Homeland Security, and other agencies, shall:

(1)  analyze potential effects of national emergencies on actual production capability, taking into account the entire production system, including shortages of resources, and develop recommended preparedness measures to strengthen capabilities for production increases in national emergencies; and

(2)  perform industry analyses to assess capabilities of the industrial base to support the national defense, and develop policy recommendations to improve the international competitiveness of specific domestic industries and their abilities to meet national defense program needs.

PART II  -  PRIORITIES AND ALLOCATIONS

Sec. 201Priorities and Allocations Authorities.  (a)  The authority of the President conferred by section 101 of the Act, 50 U.S.C. App. 2071, to require acceptance and priority performance of contracts or orders (other than contracts of employment) to promote the national defense over performance of any other contracts or orders, and to allocate materials, services, and facilities as deemed necessary or appropriate to promote the national defense, is delegated to the following agency heads:

(1)  the Secretary of Agriculture with respect to food resources, food resource facilities, livestock resources, veterinary resources, plant health resources, and the domestic distribution of farm equipment and commercial fertilizer;

(2)  the Secretary of Energy with respect to all forms of energy;

(3)  the Secretary of Health and Human Services with respect to health resources;

(4)  the Secretary of Transportation with respect to all forms of civil transportation;

(5)  the Secretary of Defense with respect to water resources; and

(6)  the Secretary of Commerce with respect to all other materials, services, and facilities, including construction materials.

(b)  The Secretary of each agency delegated authority under subsection (a) of this section (resource departments) shall plan for and issue regulations to prioritize and allocate resources and establish standards and procedures by which the authority shall be used to promote the national defense, under both emergency and non-emergency conditions.  Each Secretary shall authorize the heads of other agencies, as appropriate, to place priority ratings on contracts and orders for materials, services, and facilities needed in support of programs approved under section 202 of this order.

(c)  Each resource department shall act, as necessary and appropriate, upon requests for special priorities assistance, as defined by section 801(l) of this order, in a time frame consistent with the urgency of the need at hand.  In situations where there are competing program requirements for limited resources, the resource department shall consult with the Secretary who made the required determination under section 202 of this order.  Such Secretary shall coordinate with and identify for the resource department which program requirements to prioritize on the basis of operational urgency.  In situations involving more than one Secretary making such a required determination under section 202 of this order, the Secretaries shall coordinate with and identify for the resource department which program requirements should receive priority on the basis of operational urgency.

(d)  If agreement cannot be reached between two such Secretaries, then the issue shall be referred to the President through the Assistant to the President and National Security Advisor and the Assistant to the President for Homeland Security and Counterterrorism.

(e)  The Secretary of each resource department, when necessary, shall make the finding required under section 101(b) of the Act, 50 U.S.C. App. 2071(b).  This finding shall be submitted for the President’s approval through the Assistant to the President and National Security Advisor and the Assistant to the President for Homeland Security and Counterterrorism.  Upon such approval, the Secretary of the resource department that made the finding may use the authority of section 101(a) of the Act, 50 U.S.C. App. 2071(a), to control the general distribution of any material (including applicable services) in the civilian market.

Sec. 202Determinations.  Except as provided in section 201(e) of this order, the authority delegated by section 201 of this order may be used only to support programs that have been determined in writing as necessary or appropriate to promote the national defense:

(a)  by the Secretary of Defense with respect to military production and construction, military assistance to foreign nations, military use of civil transportation, stockpiles managed by the Department of Defense, space, and directly related activities;

(b)  by the Secretary of Energy with respect to energy production and construction, distribution and use, and directly related activities; and

(c)  by the Secretary of Homeland Security with respect to all other national defense programs, including civil defense and continuity of Government.

Sec. 203Maximizing Domestic Energy Supplies.  The authorities of the President under section 101(c)(1) (2) of the Act, 50 U.S.C. App. 2071(c)(1) (2), are delegated to the Secretary of Commerce, with the exception that the authority to make findings that materials (including equipment), services, and facilities are critical and essential, as described in section 101(c)(2)(A) of the Act, 50 U.S.C. App. 2071(c)(2)(A), is delegated to the Secretary of Energy.

Sec. 204Chemical and Biological Warfare.  The authority of the President conferred by section 104(b) of the Act, 50 U.S.C. App. 2074(b), is delegated to the Secretary of Defense.  This authority may not be further delegated by the Secretary.

PART III  –  EXPANSION OF PRODUCTIVE CAPACITY AND SUPPLY

Sec. 301Loan Guarantees.  (a)  To reduce current or projected shortfalls of resources, critical technology items, or materials essential for the national defense, the head of each agency engaged in procurement for the national defense, as defined in section 801(h) of this order, is authorized pursuant to section 301 of the Act, 50 U.S.C. App. 2091, to guarantee loans by private institutions.

(b)  Each guaranteeing agency is designated and authorized to:  (1) act as fiscal agent in the making of its own guarantee contracts and in otherwise carrying out the purposes of section 301 of the Act; and (2) contract with any Federal Reserve Bank to assist the agency in serving as fiscal agent.

(c)  Terms and conditions of guarantees under this authority shall be determined in consultation with the Secretary of the Treasury and the Director of the Office of Management and Budget (OMB).  The guaranteeing agency is authorized, following such consultation, to prescribe:  (1) either specifically or by maximum limits or otherwise, rates of interest, guarantee and commitment fees, and other charges which may be made in connection with such guarantee contracts; and (2) regulations governing the forms and procedures (which shall be uniform to the extent practicable) to be utilized in connection therewith.

Sec. 302Loans.  To reduce current or projected shortfalls of resources, critical technology items, or materials essential for the national defense, the head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 302 of the Act, 50 U.S.C. App. 2092, to make loans thereunder.  Terms and conditions of loans under this authority shall be determined in consultation with the Secretary of the Treasury and the Director of OMB.

Sec. 303Additional Authorities.  (a)  To create, maintain, protect, expand, or restore domestic industrial base capabilities essential for the national defense, the head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 303 of the Act, 50 U.S.C. App. 2093, to make provision for purchases of, or commitments to purchase, an industrial resource or a critical technology item for Government use or resale, and to make provision for the development of production capabilities, and for the increased use of emerging technologies in security program applications, and to enable rapid transition of emerging technologies.

(b)  Materials acquired under section 303 of the Act, 50 U.S.C. App. 2093, that exceed the needs of the programs under the Act may be transferred to the National Defense Stockpile, if, in the judgment of the Secretary of Defense as the National Defense Stockpile Manager, such transfers are in the public interest.

Sec. 304Subsidy Payments.  To ensure the supply of raw or nonprocessed materials from high cost sources, or to ensure maximum production or supply in any area at stable prices of any materials in light of a temporary increase in transportation cost, the head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 303(c) of the Act, 50 U.S.C. App. 2093(c), to make subsidy payments, after consultation with the Secretary of the Treasury and the Director of OMB.

Sec. 305Determinations and Findings.  (a)  Pursuant to budget authority provided by an appropriations act in advance for credit assistance under section 301 or 302 of the Act, 50 U.S.C. App. 2091, 2092, and consistent with the Federal Credit Reform Act of 1990, as amended (FCRA), 2 U.S.C. 661 et seq., the head of each agency engaged in procurement for the national defense is delegated the authority to make the determinations set forth in sections 301(a)(2) and 302(b)(2) of the Act, in consultation with the Secretary making the required determination under section 202 of this order; provided, that such determinations shall be made after due consideration of the provisions of OMB Circular A 129 and the credit subsidy score for the relevant loan or loan guarantee as approved by OMB pursuant to FCRA.

(b)  Other than any determination by the President under section 303(a)(7)(b) of the Act, the head of each agency engaged in procurement for the national defense is delegated the authority to make the required determinations, judgments, certifications, findings, and notifications defined under section 303 of the Act, 50 U.S.C. App. 2093, in consultation with the Secretary making the required determination under section 202 of this order.

Sec. 306Strategic and Critical Materials.  The Secretary of Defense, and the Secretary of the Interior in consultation with the Secretary of Defense as the National Defense Stockpile Manager, are each delegated the authority of the President under section 303(a)(1)(B) of the Act, 50 U.S.C. App. 2093(a)(1)(B), to encourage the exploration, development, and mining of strategic and critical materials and other materials.

Sec. 307Substitutes.  The head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 303(g) of the Act, 50 U.S.C. App. 2093(g), to make provision for the development of substitutes for strategic and critical materials, critical components, critical technology items, and other resources to aid the national defense.

Sec. 308Government-Owned Equipment.  The head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 303(e) of the Act, 50 U.S.C. App. 2093(e), to:

(a)  procure and install additional equipment, facilities, processes, or improvements to plants, factories, and other industrial facilities owned by the Federal Government and to procure and install Government owned equipment in plants, factories, or other industrial facilities owned by private persons;

(b)  provide for the modification or expansion of privately owned facilities, including the modification or improvement of production processes, when taking actions under sections 301, 302, or 303 of the Act, 50 U.S.C. App. 2091, 2092, 2093; and

(c)  sell or otherwise transfer equipment owned by the Federal Government and installed under section 303(e) of the Act, 50 U.S.C. App. 2093(e), to the owners of such plants, factories, or other industrial facilities.

Sec. 309Defense Production Act Fund.  The Secretary of Defense is designated the Defense Production Act Fund Manager, in accordance with section 304(f) of the Act, 50 U.S.C. App. 2094(f), and shall carry out the duties specified in section 304 of the Act, in consultation with the agency heads having approved, and appropriated funds for, projects under title III of the Act.

Sec. 310Critical Items.  The head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 107(b)(1) of the Act, 50 U.S.C. App. 2077(b)(1), to take appropriate action to ensure that critical components, critical technology items, essential materials, and industrial resources are available from reliable sources when needed to meet defense requirements during peacetime, graduated mobilization, and national emergency.  Appropriate action may include restricting contract solicitations to reliable sources, restricting contract solicitations to domestic sources (pursuant to statutory authority), stockpiling critical components, and developing substitutes for critical components or critical technology items.

Sec. 311Strengthening Domestic Capability.  The head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 107(a) of the Act, 50 U.S.C. App. 2077(a), to utilize the authority of title III of the Act or any other provision of law to provide appropriate incentives to develop, maintain, modernize, restore, and expand the productive capacities of domestic sources for critical components, critical technology items, materials, and industrial resources essential for the execution of the national security strategy of the United States.

Sec. 312Modernization of Equipment.  The head of each agency engaged in procurement for the national defense, in accordance with section 108(b) of the Act, 50 U.S.C. App. 2078(b), may utilize the authority of title III of the Act to guarantee the purchase or lease of advance manufacturing equipment, and any related services with respect to any such equipment for purposes of the Act.  In considering title III projects, the head of each agency engaged in procurement for the national defense shall provide a strong preference for proposals submitted by a small business supplier or subcontractor in accordance with section 108(b)(2) of the Act, 50 U.S.C. App. 2078(b)(2).

PART IV  -  VOLUNTARY AGREEMENTS AND ADVISORY COMMITTEES

Sec. 401Delegations.  The authority of the President under sections 708(c) and (d) of the Act, 50 U.S.C. App. 2158(c), (d), is delegated to the heads of agencies otherwise delegated authority under this order.  The status of the use of such delegations shall be furnished to the Secretary of Homeland Security.

Sec. 402Advisory Committees.  The authority of the President under section 708(d) of the Act, 50 U.S.C. App. 2158(d), and delegated in section 401 of this order (relating to establishment of advisory committees) shall be exercised only after consultation with, and in accordance with, guidelines and procedures established by the Administrator of General Services.

Sec. 403Regulations.  The Secretary of Homeland Security, after approval of the Attorney General, and after consultation by the Attorney General with the Chairman of the Federal Trade Commission, shall promulgate rules pursuant to section 708(e) of the Act, 50 U.S.C. App. 2158(e), incorporating standards and procedures by which voluntary agreements and plans of action may be developed and carried out.  Such rules may be adopted by other agencies to fulfill the rulemaking requirement of section 708(e) of the Act, 50 U.S.C. App. 2158(e).

PART V  -  EMPLOYMENT OF PERSONNEL

Sec. 501National Defense Executive Reserve.  (a) In accordance with section 710(e) of the Act, 50 U.S.C. App. 2160(e), there is established in the executive branch a National Defense Executive Reserve (NDER) composed of persons of recognized expertise from various segments of the private sector and from Government (except full time Federal employees) for training for employment in executive positions in the Federal Government in the event of a national defense emergency.

(b)  The Secretary of Homeland Security shall issue necessary guidance for the NDER program, including appropriate guidance for establishment, recruitment, training, monitoring, and activation of NDER units and shall be responsible for the overall coordination of the NDER program.  The authority of the President under section 710(e) of the Act, 50 U.S.C. App. 2160(e), to determine periods of national defense emergency is delegated to the Secretary of Homeland Security.

(c)  The head of any agency may implement section 501(a) of this order with respect to NDER operations in such agency.

(d)  The head of each agency with an NDER unit may exercise the authority under section 703 of the Act, 50 U.S.C. App. 2153, to employ civilian personnel when activating all or a part of its NDER unit.  The exercise of this authority shall be subject to the provisions of sections 501(e) and (f) of this order and shall not be redelegated.

(e)  The head of an agency may activate an NDER unit, in whole or in part, upon the written determination of the Secretary of Homeland Security that an emergency affecting the national defense exists and that the activation of the unit is necessary to carry out the emergency program functions of the agency.

(f)  Prior to activating the NDER unit, the head of the agency shall notify, in writing, the Assistant to the President for Homeland Security and Counterterrorism of the impending activation.

Sec. 502Consultants.  The head of each agency otherwise delegated functions under this order is delegated the authority of the President under sections 710(b) and (c) of the Act, 50 U.S.C. App. 2160(b), (c), to employ persons of outstanding experience and ability without compensation and to employ experts, consultants, or organizations.  The authority delegated by this section may not be redelegated.

PART VI  -  LABOR REQUIREMENTS

Sec. 601Secretary of Labor.  (a)  The Secretary of Labor, in coordination with the Secretary of Defense and the heads of other agencies, as deemed appropriate by the Secretary of Labor, shall:

(1)  collect and maintain data necessary to make a continuing appraisal of the Nation’s workforce needs for purposes of national defense;

(2)  upon request by the Director of Selective Service, and in coordination with the Secretary of Defense, assist the Director of Selective Service in development of policies regulating the induction and deferment of persons for duty in the armed services;

(3)  upon request from the head of an agency with authority under this order, consult with that agency with respect to:  (i) the effect of contemplated actions on labor demand and utilization; (ii) the relation of labor demand to materials and facilities requirements; and (iii) such other matters as will assist in making the exercise of priority and allocations functions consistent with effective utilization and distribution of labor;

(4)  upon request from the head of an agency with authority under this order:  (i) formulate plans, programs, and policies for meeting the labor requirements of actions to be taken for national defense purposes; and (ii) estimate training needs to help address national defense requirements and promote necessary and appropriate training programs; and

(5)  develop and implement an effective labor management relations policy to support the activities and programs under this order, with the cooperation of other agencies as deemed appropriate by the Secretary of Labor, including the National Labor Relations Board, the Federal Labor Relations Authority, the National Mediation Board, and the Federal Mediation and Conciliation Service.

(b)  All agencies shall cooperate with the Secretary of Labor, upon request, for the purposes of this section, to the extent permitted by law.

PART VII  -  DEFENSE PRODUCTION ACT COMMITTEE

Sec. 701The Defense Production Act Committee.  (a)  The Defense Production Act Committee (Committee) shall be composed of the following members, in accordance with section 722(b) of the Act, 50 U.S.C. App. 2171(b):

(1)   The Secretary of State;

(2)   The Secretary of the Treasury;

(3)   The Secretary of Defense;

(4)   The Attorney General;

(5)   The Secretary of the Interior;

(6)   The Secretary of Agriculture;

(7)   The Secretary of Commerce;

(8)   The Secretary of Labor;

(9)   The Secretary of Health and Human Services;

(10)  The Secretary of Transportation;

(11)  The Secretary of Energy;

(12)  The Secretary of Homeland Security;

(13)  The Director of National Intelligence;

(14)  The Director of the Central Intelligence Agency;

(15)  The Chair of the Council of Economic Advisers;

(16)  The Administrator of the National Aeronautics and Space Administration; and

(17)  The Administrator of General Services.

(b)  The Director of OMB and the Director of the Office of Science and Technology Policy shall be invited to participate in all Committee meetings and activities in an advisory role.  The Chairperson, as designated by the President pursuant to section 722 of the Act, 50 U.S.C. App. 2171, may invite the heads of other agencies or offices to participate in Committee meetings and activities in an advisory role, as appropriate.

Sec. 702Offsets.  The Secretary of Commerce shall prepare and submit to the Congress the annual report required by section 723 of the Act, 50 U.S.C. App. 2172, in consultation with the Secretaries of State, the Treasury, Defense, and Labor, the United States Trade Representative, the Director of National Intelligence, and the heads of other agencies as appropriate.  The heads of agencies shall provide the Secretary of Commerce with such information as may be necessary for the effective performance of this function.

PART VIII  -  GENERAL PROVISIONS

Sec. 801Definitions.  In addition to the definitions in section 702 of the Act, 50 U.S.C. App. 2152, the following definitions apply throughout this order:

(a)  “Civil transportation” includes movement of persons and property by all modes of transportation in interstate, intrastate, or foreign commerce within the United States, its territories and possessions, and the District of Columbia, and related public storage and warehousing, ports, services, equipment and facilities, such as transportation carrier shop and repair facilities.  “Civil transportation” also shall include direction, control, and coordination of civil transportation capacity regardless of ownership.  “Civil transportation” shall not include transportation owned or controlled by the Department of Defense, use of petroleum and gas pipelines, and coal slurry pipelines used only to supply energy production facilities directly.

(b)  “Energy” means all forms of energy including petroleum, gas (both natural and manufactured), electricity, solid fuels (including all forms of coal, coke, coal chemicals, coal liquification, and coal gasification), solar, wind, other types of renewable energy, atomic energy, and the production, conservation, use, control, and distribution (including pipelines) of all of these forms of energy.

(c)  “Farm equipment” means equipment, machinery, and repair parts manufactured for use on farms in connection with the production or preparation for market use of food resources.

(d)  “Fertilizer” means any product or combination of products that contain one or more of the elements nitrogen, phosphorus, and potassium for use as a plant nutrient.

(e)  “Food resources” means all commodities and products, (simple, mixed, or compound), or complements to such commodities or products, that are capable of being ingested by either human beings or animals, irrespective of other uses to which such commodities or products may be put, at all stages of processing from the raw commodity to the products thereof in vendible form for human or animal consumption.  “Food resources” also means potable water packaged in commercially marketable containers, all starches, sugars, vegetable and animal or marine fats and oils, seed, cotton, hemp, and flax fiber, but does not mean any such material after it loses its identity as an agricultural commodity or agricultural product.

(f)  “Food resource facilities” means plants, machinery, vehicles (including on farm), and other facilities required for the production, processing, distribution, and storage (including cold storage) of food resources, and for the domestic distribution of farm equipment and fertilizer (excluding transportation thereof).

(g)  “Functions” include powers, duties, authority, responsibilities, and discretion.

(h)  “Head of each agency engaged in procurement for the national defense” means the heads of the Departments of State, Justice, the Interior, and Homeland Security, the Office of the Director of National Intelligence, the Central Intelligence Agency, the National Aeronautics and Space Administration, the General Services Administration, and all other agencies with authority delegated under section 201 of this order.

(i)  “Health resources” means drugs, biological products, medical devices, materials, facilities, health supplies, services and equipment required to diagnose, mitigate or prevent the impairment of, improve, treat, cure, or restore the physical or mental health conditions of the population.

(j)  “National defense” means programs for military and energy production or construction, military or critical infrastructure assistance to any foreign nation, homeland security, stockpiling, space, and any directly related activity.  Such term includes emergency preparedness activities conducted pursuant to title VI of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5195 et seq., and critical infrastructure protection and restoration.

(k)  “Offsets” means compensation practices required as a condition of purchase in either government to government or commercial sales of defense articles and/or defense services as defined by the Arms Export Control Act, 22 U.S.C. 2751 et seq., and the International Traffic in Arms Regulations, 22 C.F.R. 120.1 130.17.

(l)  “Special priorities assistance” means action by resource departments to assist with expediting deliveries, placing rated orders, locating suppliers, resolving production or delivery conflicts between various rated orders, addressing problems that arise in the fulfillment of a rated order or other action authorized by a delegated agency, and determining the validity of rated orders.

(m)  “Strategic and critical materials” means materials (including energy) that (1) would be needed to supply the military, industrial, and essential civilian needs of the United States during a national emergency, and (2) are not found or produced in the United States in sufficient quantities to meet such need and are vulnerable to the termination or reduction of the availability of the material.

(n)  “Water resources” means all usable water, from all sources, within the jurisdiction of the United States, that can be managed, controlled, and allocated to meet emergency requirements, except “water resources” does not include usable water that qualifies as “food resources.”

Sec. 802General.  (a)  Except as otherwise provided in section 802(c) of this order, the authorities vested in the President by title VII of the Act, 50 U.S.C. App. 2151 et seq., are delegated to the head of each agency in carrying out the delegated authorities under the Act and this order, by the Secretary of Labor in carrying out part VI of this order, and by the Secretary of the Treasury in exercising the functions assigned in Executive Order 11858, as amended.

(b)  The authorities that may be exercised and performed pursuant to section 802(a) of this order shall include:

(1)  the power to redelegate authorities, and to authorize the successive redelegation of authorities to agencies, officers, and employees of the Government; and

(2)  the power of subpoena under section 705 of the Act, 50 U.S.C. App. 2155, with respect to (i) authorities delegated in parts II, III, and section 702 of this order, and (ii) the functions assigned to the Secretary of the Treasury in Executive Order 11858, as amended, provided that the subpoena power referenced in subsections (i) and (ii) shall be utilized only after the scope and purpose of the investigation, inspection, or inquiry to which the subpoena relates have been defined either by the appropriate officer identified in section 802(a) of this order or by such other person or persons as the officer shall designate.

(c)  Excluded from the authorities delegated by section 802(a) of this order are authorities delegated by parts IV and V of this order, authorities in section 721 and 722 of the Act, 50 U.S.C. App. 2170 2171, and the authority with respect to fixing compensation under section 703 of the Act, 50 U.S.C. App. 2153.

Sec. 803Authority.  (a)  Executive Order 12919 of June 3, 1994, and sections 401(3) (4) of Executive Order 12656 of November 18, 1988, are revoked.  All other previously issued orders, regulations, rulings, certificates, directives, and other actions relating to any function affected by this order shall remain in effect except as they are inconsistent with this order or are subsequently amended or revoked under proper authority.  Nothing in this order shall affect the validity or force of anything done under previous delegations or other assignment of authority under the Act.

(b)  Nothing in this order shall affect the authorities assigned under Executive Order 11858 of May 7, 1975, as amended, except as provided in section 802 of this order.

(c)  Nothing in this order shall affect the authorities assigned under Executive Order 12472 of April 3, 1984, as amended.

Sec. 804General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect functions of the Director of OMB relating to budgetary, administrative, or legislative proposals.

(b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.

(c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

BARACK OBAMA

THE WHITE HOUSE,
March 16, 2012.

Read Full Post | Make a Comment ( None so far )

Senate defeats Obama’s gun grabbing agenda — Videos

Posted on April 19, 2013. Filed under: Blogroll, Politics, Video, Raves, Resources, Rants, Economics, Links, People, Life, Talk Radio, Education, Security, Strategy, Communications, Philosophy, liberty, media, Demographics, Federal Government, College, Weapons, Pistols, Rifles, Constitution | Tags: , , , , , , , , , , , |

president_obama_gun_controlgun_control_parents_children_victims

Gun Background-Check Plan Defeated in Senate

Gun show Loophole MYTH and Other Piers Morgan LIES

Obama calls Senate gun vote “shameful”

Obama: Gun lobby ‘willfully lied’

Barack Obama Speaks After Gun Control Fails in the Senate 

GOP Sen. Toomey- Background Checks Are Not ‘Gun Control,’ They’re ‘Common Sense’

Senators propose US gun control compromise

Gun Control Fight Shows Signs Of Splitting The Democratic Coalition

Wayne LaPierre On Whether NRA Supports Universal Background Checks At Gun Shows: ‘We Do Not’

Uncle Ted Cruz: ‘The Gun Show Loophole(Background Check) Doesn’t Exist’

 

What Gun Show Loophole?

The so called “gun show loophole” does not exist (I set the record straight)

Sore Loser – Sen. Feinstein After Losing Gun legislation states there will be no background checks

Megyn Kelly Panel Gun Control Argument & Debate after Shooting

Senate defeats Obama’s gun grabbing agenda

By Raymond Thomas Pronk

President Barack Obama and progressive liberals of the Democratic and Republican parties are once again attempting to infringe upon the Second Amendment Constitutional rights of the American people to keep and bear arms.

The progressive gun grabbers recognize that under Article V of the Constitution they do not have the necessary two-thirds of both Houses needed to propose an Amendment to repeal the Second Amendment nor do the gun grabbers have the necessary three-fourths of the state legislatures to ratify such an amendment.

Instead the gun grabbers propose laws that would infringe upon law-abiding American citizens in defending and protecting themselves against criminals, drug dealers, the dangerously deranged and tyrants.

In March Sen. Dianne Feinstein (D-CA) at a Senate Judiciary committee hearing on her amendment to reinstate the ban on “assault weapons” and high capacity magazines, said: “The time has come, America, to step up and ban these weapons. The other very important part of this bill is to ban large capacity ammunition feeding devices — those that hold more than 10 rounds. We have federal regulations and state laws that prohibit hunting ducks with more than three rounds. And yet it’s legal to hunt humans with 15-round, 30-round, even 150-round magazines. Limiting magazine capacity is critical because it is when a criminal, a drug dealer, a deranged individual has to pause to change magazines and reload that the police or brave bystanders have the opportunity to take that individual down.”

First, murder is a crime in all 50 states. Second, criminals, drug dealers and the dangerously deranged will use their weapons and magazines of choice, usually handguns not rifles, no matter what the federal or state laws ban. Restricting law-abiding citizens’ choice of weapons and magazine capacity would place them at an immediate disadvantage. Third, the so-called “assault weapons” that Feinstein would again ban includes semi-automatic rifles that most Americans use for hunting and sport shooting.

As John Lott, author of the books “More Guns, Less Crime” and “”The Bias Against Guns: Why Almost Everything You’ve Heard About Gun Control Is Wrong” points out, “When the federal assault weapons ban ended on Sept. 13, 2004, gun crimes and police killings were predicted to surge. Instead, they have declined.”

Senate Majority Leader Harry Reid (D-NV) on the floor of the Senate said, “On the anti-gun legislation before the Senate, we are making good progress on the effort to schedule a series of votes on amendments to the anti-gun violence legislation before the Senate.”

On April 17 Obama’s progressive gun-grabbing agenda was handed a major defeat. The Feinstein “assault weapons” ban was defeated in a bipartisan Senate vote of 60-40. An amendment to expand background checks also failed in a bipartisan vote of 54-46. The defeated amendment would have expanded background checks to cover all firearms sales at gun shows and over the Internet. However, the amendment would have exempted sales between friends and acquaintances outside of commercial venues.

The National Rifle Association’s chief lobbyist Chris W. Cox said, “This amendment would have criminalized certain private transfers of firearms between honest citizens, requiring lifelong friends, neighbors and some family members to get federal government permission to exercise a fundamental right or face prosecution.”

Under the Firearm Owners Protection Act of 1986 (FOP), the vast majority of gun sales at gun shows and over the Internet involve a Federal Firearms License (FFL) dealer that is required under the Gun Control Act of 1968 (GCA) to run a criminal background check through the National Instant Criminal Background Check System (NICS) maintained by the FBI prior to transferring the firearm to the purchaser.

Only unlicensed private party sellers such as gun collectors and occasional sellers who sell firearms at such shows are exempt from running a background check. This is the so-called “gun show loophole” that the gun grabbers want to close. However, even under existing law, if the private seller believes that the purchaser could not pass a background check, it is illegal to sell the firearm.

Texas Sen. Ted Cruz pointed out, “Why is all this focus directed at background checks? The reason is because the Department of Justice has said the only way to implement what they want–universal background checks — is a registry, a federal list of every gun owner in America. And that would be wrong; it’d be unconstitutional.”

The American people through their elected representatives in Congress will peacefully resist any attempt by progressive liberals to infringe upon their Constitutional right to keep and bear arms in order to defend and protect their lives and property from criminals, predators, the dangerously deranged and tyrants.

Ever since Obama was elected president in 2008 and re-elected in 2012, gun and ammunition sales across the country are breaking sales records and the number of criminal background checks is soaring.  The American people no longer trust their political leaders for they believe the gun grabbers’ real aim through federal anti-gun laws is to eventually repeal the Second Amendment.

As Richard Feldman said in his April 18 speech to Richland College students, progress in the gun debate will not be made until the focus shifts from controlling guns to controlling gun violence and this requires the political leaders to trust the people and the people in turn to trust their political leaders.

Richard Feldman was interviewed on the April 19 Pronk Pops Show presented by Raymond Thomas Pronk on KDUX web radio from 3-5 p.m. Fridays and author of the companion blog http://www.pronkpops.wordpress.com/.

Read Full Post | Make a Comment ( None so far )

Stop Obama’s Common Core Curriculum Standards — Progressive Indoctrination, Standardization and Tracking of American Children Into Collectivists — Little Boxes — Videos

Posted on April 2, 2013. Filed under: American History, Blogroll, Books, Business, College, Communications, Computers, Demographics, Economics, Education, Employment, Federal Government Budget, Fiscal Policy, government spending, High School, history, Language, Law, liberty, Life, Links, Literacy, Math, media, People, Philosophy, Politics, Programming, Psychology, Raves, Regulations, Resources, Science, Tax Policy, Taxes, Technology, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , |

common-core

Little Boxes – Walk off the Earth

Obama On The Common Core Standards

President Obama, Secretary Duncan Announce Race to the Top

The Bottom Line :Education Database

Why We Need Common Core: “I choose C.”

Common Core Lesson Plans – Rated very funny!

Common Core Standards & Forming a Professional Learning Network (PLN)

Vision of the Common Core

Common Core State Standards: Principles of Development

General Session: Common Core State Standards

Moderator: Governor Jeb Bush, Governor of Florida from 1999-2007 and Chairman of the Foundation for Excellence in Education

Panelists: David Coleman, President and CEO of the College Board Bob Corcoran, President and Chairman of the GE Foundation Dr. William Schmidt, University Distinguished Professor and Co-Director of the Education Policy Center at Michigan State University, Minnesota State Representative

The Common Core State Standards and What’s Next for Higher Education | College Board Forum 2012

P20 Statewide Longitudinal Data System

Indoctrination And The Progressive Future – TheBlazeTV – The Glenn Beck Program – 2013.03.27

Data Mining In Common Core – TheBlazeTV – The Glenn Beck Program

Urgent Message On Common Core – TheBlazeTV – The Glenn Beck Radio Program – 2013.03.28 

Part 1 of 5 Stop the Common Core

Part 2 of 5 Stop the Common Core

Part 3 of 5 Stop the Common Core

Part 4 of 5 Stop the Common Core

Part 5 of 5 Stop the Common Core

The Government will Control Your Childs Every Move? Common Core Disaster?

The Glenn Beck Program – Air Date: Thursday, March 14, 2013

Rick Hess: Common Core as one more Obama initiative

Teacher Talk episode: Common Core State Standards

Learn the Common Core Standards in 10 Minutes

Common Core Curriculum Standards

Common Core Standards Overview | LiteracyTA

Common Core Standards- Mathematics by David Foster

Two Moms Against Common Core

Neal McCluskey: The Folly of Common Core Curricula

Pete Seeger – What Did You Learn In School?

School-Standards Pushback

Conservative Groups Oppose National ‘Common Core’ as an Intrusion on States

By STEPHANIE BANCHERO

The Common Core national math and reading standards, adopted by 46 states and the District of Columbia two years ago, are coming under attack from some quarters as a federal intrusion into state education matters.

The voluntary academic standards, which specify what students should know in each grade, were heavily promoted by the Obama administration through its $4.35 billion Race to the Top education-grant competition. States that instituted changes such as common learning goals received bonus points in their applications.

Supporters say the Common Core standards better prepare students for college or the workforce, and are important as the U.S. falls behind other nations in areas such as math proficiency.

A 2010 report from the Thomas B. Fordham Institute, a right-leaning educational-research group, said the Common Core standards “are clearly superior to those currently in use in 39 states in math and 37 states in English. For 33 states, the Common Core is superior in both math and reading.”

But conservative lawmakers and governors in at least five states, including Utah and Alabama, recently have been pushing to back out, or slow down implementation, of Common Core. They worry that adoption of the standards has created a de facto national curriculum that could at some point be extended into more controversial areas such as science.

Critics argue that the standards are weak and could, for example, de-emphasize literature in favor of informational texts, such as technical manuals. They also dislike that the standards postpone teaching algebra until ninth grade from the current eighth grade in many schools.

A study released this year by a researcher at the Brookings Institution think tank projected Common Core will have no effect on student achievement. The study said states with high standards improved their national math and reading scores at the same rate as states with low standards from 2003 to 2009.

But mainly, critics of Common Core object to what they see as the federal government’s involvement in local-school matters.

“The Common Core takes education out of the hands of South Carolina and parents, so we have no control over what happens in the classroom,” said Michael Fair, a Republican state senator who plans to introduce a measure that would bar his state from spending money on activities related to the standards, such as training teachers and purchasing textbooks.

South Carolina Gov. Nikki Haley, who took office after the state adopted Common Core, wrote in a letter to Mr. Fair that the state should not “relinquish control of education to the federal government, neither should we cede it to the consensus of other states.”

Common Core could take another hit Friday when the 23-member board of the American Legislative Exchange Council, a group of more than 2,000 state lawmakers and business members who back limited government and free markets, among other conservative goals, is set to vote on a resolution to formally oppose the standards. The resolution was passed by the ALEC education task force in December.Model legislation often is drafted from the group’s resolutions and taken by ALEC members to their state legislatures.

Common Core evolved from a drive by the National Governors Association and the Council of Chief State School Officers to delineate world-class skills students should possess. The standards, created with funding from, among others, the Bill & Melinda Gates Foundation, set detailed goals, such as first graders should understand place values in math and eighth graders should know the Pythagorean Theorem.

“We brought the best minds in the country together to create international benchmarks that, once mastered, would make our students more competitive, globally,” said Gene Wilhoit, executive director of the Council of Chief State School Officers. He said his group has no plans to create national science standards.

As the standards were being developed, the Obama administration launched Race to the Top in July 2009, which awarded points to states that adopted “a common set of K-12 standards” that are “substantially identical across all states in a consortium,” according to the grant’s policies. The department didn’t specifically mention Common Core, but it was the only common set of standards being developed.

As a result, most state’s legislatures or state boards of education adopted Common Core.

The standards have yet to show up in many classrooms as states are just beginning to implement them. But in Kentucky, where Common Core rolled out this school year, teachers are altering instruction and searching for new classroom reading materials.

Jahn Owens, a teacher in Owensboro, Ky., said the more rigorous standards require her to teach her fifth-graders how to multiply and divide fractions. Previously, that was taught in sixth grade. First-grade teacher Heidi Dees has added more nonfiction books to her classroom.

“These standards take students much deeper into the subjects and force them to do more critical thinking,” Ms. Owens said. “It’s been hard work for the teachers because the implementation was so quick, but we are now more purposeful about student learning.”

The Obama administration has awarded more than $360 million to two groups to create student assessments aligned to Common Core.

Wireless Generation, an education-technology company owned by News Corp., which also owns The Wall Street Journal, recently purchased Intel-Assess, a company that creates student assessments aligned to Common Core.

Justin Hamilton, a spokesman for the U.S. Department. of Education, called Common Core a “game changer” but said the administration didn’t force states to adopt it. “A bipartisan group of governors created these standards and states collectively adopted them,” he said.

But Emmett McGroarty, executive director of American Principles in Action, a conservative lobbying group that wrote the ALEC resolution, said states were “herded” into adopting the standards with no time to deliberate on their worth. He called the standards “mediocre” and costly to implement.

http://online.wsj.com/article/SB10001424052702303630404577390431072241906.html

The Common Core Curriculum
National education standards that even conservatives can love.

By Chester E. Finn, Jr. & Michael J. Petrilli

After votes yesterday in Massachusetts and the District of Columbia, 28 states have now embraced the new “Common Core” standards for primary and secondary education. Already, a majority — including red states such as South Carolina, Utah, and Oklahoma — have declared that they will use Common Core English and math standards in their public schools. Yet this profound, and we think positive, shift in American education is occurring with little outcry from the right, save for a half-dozen libertarians who don’t much care for government to start with. How come?

It certainly helps that the new standards were created by a voluntary partnership of 48 states, not by the federal government. But it’s also true that the Common Core standards are remarkably strong, vastly better than the standards most states have developed independently over the past 15 years. Yesterday, our institute released a 370-page study that finds the Common Core standards to be clearly superior to the existing English standards of 37 states and the existing math standards of 39.

One reason the Common Core fared so well is that its authors eschewed the vague and politically correct nonsense that infected so many state standards (and earlier attempts at national standards). They expect students to master arithmetic and memorize their times tables; they promote the teaching of phonics in the early grades; they even expect all students to read and understand the country’s founding documents. The new standards aren’t perfect. Our reviewers found three jurisdictions that did better in English (California, Indiana, and — believe it or not — the District of Columbia), mostly because they better distinguish among different “genres” of literature and other writing. Another dozen states (including Massachusetts) are “too close to call,” meaning that their standards are about equal in content and rigor to the Common Core. But anybody worried that this national effort will dumb down what we expect young Americans to learn in school can relax, at least for now.

Anxiety will surely rise when school kids across the land begin (three or four years hence) to take tests linked to these standards, and even more when those test results start to determine promotion from fifth to sixth grade or graduation from high school. (The development of those tests will soon start, aided by $350 million of federal stimulus funds.) But without tests and results-based accountability, along with solid curricula, quality textbooks, and competent teaching, standards alone have no traction in real classrooms. Adopting good standards is like having a goal for your cholesterol; it doesn’t mean you will actually eat a healthy diet or live longer.

When high expectations for schools and students are combined with smart implementation in thousands of classrooms, policymakers can move mountains. That’s the lesson we take from Massachusetts, which has established high standards, well-designed assessments, a tough-minded (yet humane) accountability system, rigorous certification requirements for teachers, and a high bar that students must clear to earn their diplomas. The Bay State has been making steady achievement gains in reading and math in both fourth and eighth grades. That, of course, is why Massachusetts politicians and policymakers sparred over the proposal by state education commissioner Mitchell Chester to replace the state’s standards and tests with the new national versions.

Until now, however, the vast majority of states have failed to adopt rigorous standards, much less to take actions geared to boosting pupil achievement. In 2007, we published a comparison of states’ “proficiency” expectations under the federal No Child Left Behind Act. The results were dismaying: In some places, students could score below the tenth percentile nationally and still be considered “proficient.” In other locales, they had to reach the 77th percentile to wear the same label. And it wasn’t just that expectations varied, but that they varied almost randomly from place to place, grade to grade, and year to year.

Most Americans understand that this is not the way a big, modernized country on a competitive planet should operate its education system. Three years ago, an Education Next poll asked whether people favored “a single national standard and a single national test for all students in the United States? Or do you think that there should be different standards and tests in different states?”

http://www.nationalreview.com/articles/243517/common-core-curriculum-chester-e-finn-jr

Who’s Behind the Common Core Curriculum?

Written by 

Like so many education reform initiatives that seem to arise out of nowhere, the Common Core State Standards is another of these sweeping phantom movements that have gotten their impetus from a cadre of invisible human beings endowed with inordinate power to impose their ideas on everybody.

For example, the idea of collecting intimate personal data on public school students and teachers seems to have arisen spontaneously in the bowels of the National Center for Education Statistics in Washington. It required a small army of education psychologists to put together the data handbooks, which are periodically expanded to include more personal information.

Nobody knows who exactly authorized the creation of such a dossier on every student and teacher in American public schools, but the program exists and is being paid for by the taxpayer. And strange as it may seem, it arose seemingly out of nowhere, like a vampire, to suck the freedom out of the American people. Unlike Santa’s elves who work behind the scenes to bring happiness to children, these subterranean phantoms work overtime to find ways of making American children miserable.

The Common Core State Standards (CCSS) is another such vampire calculated not only to suck the freedom out of the American people, but also to suck out the brains of their children. And all of this is planned in the dark, away from the prying eyes of parents and writers like me. Ask any educator: “Who is the author of the Common Core Standards?” and they will not be able to tell you.

So I decided to look into the origin of the CCSS. It is said that it originated with the National Governors Association (NGA). When and where? At what meeting? At whose behest? The NGA’s Mission Statement says on its website:

The Common Core State Standards provide a consistent, clear understanding of what students are expected to learn, so teachers and parents know what they need to do to help them. The standards are designed to be robust and relevant to the real world, reflecting the knowledge and skills that our young people need for success in college and careers. With American students fully prepared for the future, our communities will be best positioned to compete successfully in the global economy.

Sounds wonderful. But why do we need it? Why are we re-inventing the wheel? Didn’t our public schools provide a decent education for the “greatest generation” when they were in school? That generation not only learned enough to win World War II but also enough to create the scientific foundation of our high-tech society. The only reason why we need the CCSS is because all of these graduate educationists need something to do to justify their degrees and the salaries that go with them. And of course the new curriculum will cost billions of dollars which will enable these vampires to live in the style to which they’ve become accustomed. By the way, if you object to my referring to these people as vampires, feel free to use your own designations.

The CCSS adds nothing to what we know about how to teach reading. It adds nothing to how we teach arithmetic and mathematics. It adds nothing to how we teach history, geography, and the “social studies.” In short, it is a fraud to get the American taxpayer to shell out big bucks for something that we already know how to do.  Yes, science has greatly expanded, but it also expanded from 1850 to 1950 and didn’t require a different methodology from the scientific method developed by the great scientists of the past. We may have better equipment which students of science must learn to operate, but the scientific method has not changed.

And of course, the CCSS were made to be as complicated as possible so that no parent or normal human being could understand them. For example, there is something called “Common Core State Standards Official Identifiers and XML Representation.” It states:

As states, territories, the District of Columbia, and the Department of Defense Education Activity move from widespread adoption of the Common Core State Standards (CCSS) to implementation, there is a need to appropriately identify and link assets using a shared system of identifiers and a common XML representation. The Council of Chief State School Officers (CCSSO) and National Governors Association Center for Best Practices (NGA Center), working closely with the standards authors, have released an official, viable approach for publishing identifiers and XML designation to represent the standards, consistent with their adopted format, as outlined below.

So now we know that there is such a body as “the standards authors,” who work closely with such bureaucratic organizations as the Council of Chief State School Officers and the National Governors Association Center for Best Practices. And to make sure that the Standards are being correctly implemented, we read the following in typical vampire language:

De-referenceable Uniform Resource Identifier (URIs) at the corestandards.org domain, e.g. http://corestandards.org/2010/math/content/6/EE/1 or http://corestandards.org/2010/math/practice/MP7. Matching the published identifiers, these dereferenceable URIs allow individuals and technology systems to validate the content of a standard by viewing the web page at the identifier’s uniform resource locator (URL). The NGA Center and CCSSO strongly recommend that http://www.corestandards.org remain the address of record for referring to standards.

What kind of human beings not only write such gobbledegook but also know what it means? And these educationists are among the well-paid elite who know how to make everything so complicated that only they are capable of understanding their own complexity. Here’s more:

Globally unique identifiers (GUIDs), e.g. A7D3275BC52147618D6CFEE43FB1A47E. These allow, when needed, to refer to standards in both disciplines in a common format without removing the differences in the published identifiers. GUIDs are unwieldy for human use, but they are necessarily complex to guarantee uniqueness, an important characteristic for databases, and are intended for use by computer systems. There is no need for educators to decode GUIDs.

Did you read that line, “GUIDS are unwieldy for human use, but they are necessarily complex to guarantee uniqueness”?  These people are masters at creating complexity for its own sake. The more complex, the more difficult it is for normal human beings to know what in blazes they are talking about.

What is the National Governors Association for Best Practices? Here is what their website says:

The National Governors Association Center for Best Practices (NGA Center) develops innovative solutions to today’s most pressing public policy challenges and is the only research and development firm that directly serves the nation’s governors….

The mission of NGA Office of Federal Relations is to ensure governors’ views are represented in the shaping of federal policy. Policy positions, reflecting governors’ principles on priority issues, guide the association’s work to influence federal laws and regulations.

The initiative for the Common Core State Standards seems to have arisen from a speech NGA Chairman Governor Paul Patton, Democrat, of Kentucky gave at the NGA meeting on June 12, 2002, in which he said:

Governors are constantly searching for solutions that will help all schools succeed, but some schools require more help than others. The long-term goal for states is to improve overall system performance while closing persistent gaps in achievement between minority and non-minority students. Fortunately, there are places to look for guidance. Although some schools continue to struggle, some have responded successfully to state reform efforts and others have gone far in improving student performance and closing the achievement gap. Current research also suggests there are ways state policies can effectively stimulate and support school improvement.

How that was translated into the need for Common Core State Standards, is not very clear. The Executive Director of the NGA is Dan Crippen, a Washington policy bureaucrat who was director of the Congressional Budget Office from 1999 to 2002. The Director of the NGA Center for Best Practices is David Moore, formerly of the Congressional Budget Office. The Director of the Education Division is Richard Laine. His profile states:

Laine directs research, policy analysis, technical assistance and resource development for the Education Division in the areas of early childhood, K-12, and postsecondary education. The Education Division is working on a number of key policy issues relevant to governors’ efforts to develop and support the implementation of policy, including: birth to 3rd grade access, readiness and quality; the Common Core State Standards, STEM and related assessments; teacher and leader effectiveness; turning around low-performing schools; high school redesign; competency-based learning; charter schools; and postsecondary (higher education & workforce training) access, success & affordability. The Division is also working on policy issues related to bridging the system divides between the early childhood, K-12 and postsecondary systems.

Well now we know who’s in charge of the Common Core State Standards. What is Mr. Laine’s background?

Previous Positions: Director of Education, The Wallace Foundation; Director of Education Policy and Initiatives, Illinois Business Roundtable; Associate Superintendent for Policy, Planning and Resource Management, Illinois State Board of Education; Executive Director, Coalition for Educational Rights; Executive Secretary, Committee for Educational Rights; School Finance Analyst, Chicago Panel on Public School Policy and Finance; Associate Director, California Democratic Congressional Delegation.

Education: M.P.P., M.B.A. and Certificate of Advanced Study in Education Administration and Public Policy, University of Chicago; B.A., University of California — Santa Barbara.

Obviously, Mr. Laine is one of those invisible bureaucrats who create policies for the governors, few of whom ever read them. He was Associate Director of California’s Democratic Congressional Delegation, which includes some of the worst left-wing members of Congress. He’s also in charge of “birth to 3rd grade access,” which the National Education Association strongly favors. Among Mr. Laine’s staff is Albert Wat, whose expertise is Early Childhood Education. His profile states:

Wat provides state policymakers with analyses and information on promising practices and the latest research in early childhood education policy, from birth through third grade. His work focuses on preschool education systems and alignment of early childhood and early elementary practices and policies, including standards, assessments and data systems.

Previous Positions: Research Manager, Senior Research Associate and State Policy Analyst, The Pew Charitable Trusts, Pew Center on the States, Pre-K Now.

Education: Master of Arts in Education Policy Studies, The George Washington University; Nonprofit Management Executive Certificate, Georgetown University; Master of Arts in Education, with focus in Social Sciences in Education and Bachelor of Arts in Psychology, with Distinction, Stanford University.

Like so many Washington policy wonks, Mr. Wat has to justify his bureaucratic position by thinking up new ways to create costly education reform that no freedom- loving citizen wants. Note his and Mr. Laine’s interest in “birth to 3rd grade” education, an area traditionally left up to parents. But then the totalitarian mind wants control over everything and everybody.

In other words, the Common Core State Standards have no more legitimacy than the plans of your local village idiot to reform education. They are the thought emanations of those who have nothing better to do. Yet, they will cost the American taxpayer billions of dollars and make American public education more confusing than ever.

http://www.thenewamerican.com/reviews/opinion/item/13412-whos-behind-the-common-core-curriculum

Common Core State Standards Initiative

The Common Core State Standards Initiative is a U.S. education initiative that seeks to bring diverse state curricula into alignment with each other by following the principles of standards-based education reform. The initiative is sponsored by the National Governors Association (NGA) and the Council of Chief State School Officers (CCSSO).

Development

The past twenty years in the U.S. have also been termed the “Accountability Movement,” as states are being held to mandatory tests of student achievement, which are expected to demonstrate a common core of knowledge that all citizens should have to be successful in this country.[1] As part of this overarching education reform movement, the nation’s governors and corporate leaders founded Achieve, Inc. in 1996 as a bi-partisan organization to raise academic standards, graduation requirements, improve assessments, and strengthen accountability in all 50 states.[2] The initial motivation for the development of the Common Core State Standards was part of the American Diploma Project (ADP).[3]

A report titled, “Ready or Not: Creating a High School Diploma That Counts,” from 2004 found that both employers and colleges are demanding more of high school graduates than in the past.[4] According to Achieve, Inc., “current high-school exit expectations fall well short of [employer and college] demands.”[5] The report explains that the major problem currently facing the American school system is that high school graduates were not provided with the skills and knowledge they needed to succeed.[5] “While students and their parents may still believe that the diploma reflects adequate preparation for the intellectual demands of adult life, in reality it falls far short of this common-sense goal.” (page 1). The report continues that the diploma itself lost its value because graduates could not compete successfully beyond high school,[5] and that the solution to this problem is a common set of rigorous standards.

In 2009 the National Governors Association hired David Coleman and Student Achievement to write curriculum standards in the areas of literacy and mathematics instruction. Announced on June 1, 2009,[6] the initiative’s stated purpose is to “provide a consistent, clear understanding of what students are expected to learn, so teachers and parents know what they need to do to help them.”[7] Additionally, “The standards are designed to be robust and relevant to the real world, reflecting the knowledge and skills that our young people need for success in college and careers,” which will place American students in a position in which they can compete in a global economy.[7] Forty-five of the fifty states in the United States are members of the initiative, with the states of Texas, Virginia, Alaska, and Nebraska not adopting the initiative at a state level.[8] Minnesota has adopted the English Language Arts standards but not the Mathematics standards.[9]

Standards were released for mathematics and English language arts on June 2, 2010, with a majority of states adopting the standards in the subsequent months. (See below for current status.) States were given an incentive to adopt the Common Core Standards through the possibility of competitive federal Race to the Top grants. President Obama and Secretary of Education Arne Duncan announced the Race to the Top competitive grants on July 24, 2009, as a motivator for education reform.[10] To be eligible, states had to adopt “internationally benchmarked standards and assessments that prepare students for success in college and the work place.”[11] This meant that in order for a state to be eligible for these grants, the states had to adopt the Common Core State Standards or a similar career and college readiness curriculum. The competition for these grants provided a major push for states to adopt the standards.[12] The adoption dates for those states that chose to adopt the Common Core State Standards Initiative are all within the two years following this announcement.[13] The common standards are funded by the governors and state schools chiefs, with additional support from the Bill and Melinda Gates Foundation, the Charles Stewart Mott Foundation, and others.[14] States are planning to implement this initiative by 2015[15] by basing at least 85% of their state curricula on the Standards.

Standards

In 2010, Standards were released for English language arts and mathematics. Standards have not yet been developed for science or social studies.

English Language Arts & Literacy in History/Social Studies, Science, and Technical Subjects

The stated goal of the English & Language Arts and Literacy in History/Social Studies, Science, and Technical Subjects standards[16] is to ensure that students are college and career ready in literacy no later than the end of high school (page 3). There are five key components to the standards for English and Language Arts: Reading, Writing, Speaking and Listening, Language, and Media and Technology.[17] The essential components and breakdown of each of these key points within the standards are as follows:

Reading

  • As students advance through each grade, there is an increased level of complexity to what students are expected to read and there is also a progressive development of reading comprehension so that students can gain more from what they read.[17]
  • There is no reading list to accompany the reading standards. Instead, students are simply expected to read a range of classic and contemporary literature as well as challenging informative texts from an array of subjects. This is so that students can acquire new knowledge, insights, and consider varying perspectives as they read. Teachers, school districts, and states are expected to decide on the appropriate curriculum, but sample texts are included to help teachers, students, and parents prepare for the year ahead.[17]
  • There is some critical content for all students — classic myths and stories from around the world, foundational U.S. documents, seminal works of American literature, and the writings of Shakespeare — but the rest is left up to the states and the districts.[17]

Writing

  • The driving force of the writing standards is logical arguments based on claims, solid reasoning, and relevant evidence. The writing also includes opinion writing even within the K–5 standards.[17]
  • Short, focused research projects, similar to the kind of projects students will face in their careers as well as long-term, in-depth research is another important piece of the writing standards. This is because written analysis and the presentation of significant findings is critical to career and college readiness.[17]
  • The standards also include annotated samples of student writing to help determine performance levels in writing arguments, explanatory texts, and narratives across the grades.[17]

Speaking and Listening

  • Although reading and writing are the expected components of an ELA curriculum, standards are written so that students gain, evaluate, and present complex information, ideas, and evidence specifically through listening and speaking.[17]
  • There is also an emphasis on academic discussion in one-on-one, small-group, and whole-class settings, which can take place as formal presentations as well as informal discussions during student collaboration.[17]

Language

  • Vocabulary instruction in the standards takes place through a mix of conversations, direct instruction, and reading so that students can determine word meanings and can expand their use of words and phrases.[17]
  • The standards expect students to use formal English in their writing and speaking, but also recognize that colleges and 21st century careers will require students to make wise, skilled decisions about how to express themselves through language in a variety of contexts.[17]
  • Vocabulary and conventions are their own strand because these skills extend across reading, writing, speaking, and listening.[17]

Media and Technology

  • Since media and technology are intertwined with every student’s life and in school in the 21st century, skills related to media use, which includes the analysis and production of various forms of media, are also included in these standards.[17]

Preliminary “example” works to be studied by students include works by Ovid, Atul Gawande, Voltaire, Shakespeare, Turgenev, Poe, Robert Frost, Yeats, Nathaniel Hawthorne, Amy Tan, and Julia Alvarez.[15]

Cursive and keyboarding

The standards do not mandate the teaching of cursive handwriting, although states are free either to add a cursive requirement or to permit individual school districts to require it. The standards include instruction in keyboarding.[18]

Mathematics

The stated goal of the mathematics Standards[19] is to achieve greater focus and coherence in the curriculum (page 3). This is largely in response to the criticism that American mathematics curricula are “a mile wide and an inch deep”.

The mathematics Standards include Standards for Mathematical Practice and Standards for Mathematical Content.

Mathematical practice

The Standards mandate that eight principles of mathematical practice be taught:

  1. Make sense of problems and persevere in solving them.
  2. Reason abstractly and quantitatively.
  3. Construct viable arguments and critique the reasoning of others.
  4. Model with mathematics.
  5. Use appropriate tools strategically.
  6. Attend to precision.
  7. Look for and make use of structure.
  8. Look for and express regularity in repeated reasoning.

The practices are adapted from the five process standards of the National Council of Teachers of Mathematics and the five strands of proficiency in the National Research Council’s Adding It Up report.[20] These practices are to be taught in every grade from kindergarten to twelfth grade. Details of how these practices are to be connected to each grade level’s mathematics content are left to local implementation of the Standards.

As an example of mathematical practice, here is the full description of the sixth practice:

6 Attend to precision.

Mathematically proficient students try to communicate precisely to others. They try to use clear definitions in discussion with others and in their own reasoning. They state the meaning of the symbols they choose, including using the equal sign consistently and appropriately. They are careful about specifying units of measure, and labeling axes to clarify the correspondence with quantities in a problem. They calculate accurately and efficiently, express numerical answers with a degree of precision appropriate for the problem context. In the elementary grades, students give carefully formulated explanations to each other. By the time they reach high school they have learned to examine claims and make explicit use of definitions.

Mathematical content

The Standards lay out the mathematics content that should be learned at each grade level from kindergarten to Grade 8 (age 13-14), as well as the mathematics to be learned in high school. The Standards do not dictate any particular pedagogy or what order topics should be taught within a particular grade level. Mathematical content is organized in a number of domains. At each grade level there are several standards for each domain, organized into clusters of related standards. (See examples below.)

Four domains are included in each of the grades from kindergarten (age 5-6) to fifth grade (age 10-11):

  • Operations and Algebraic Thinking;
  • Number and Operations in Base 10;
  • Measurement and Data;
  • Geometry.

Kindergarten also includes the domain Counting and Cardinality. Grades 3 to 5 also include the domain Number and Operations–Fractions.

Four domains are included in each of the Grades 6 through 8:

  • The Number System;
  • Expressions and Equations;
  • Geometry;
  • Statistics and Probability.

Grades 6 and 7 also include the domain Ratios and Proportional Relationships. Grade 8 includes the domain Functions.

In addition to detailed standards (of which there are 21 to 28 for each grade from kindergarten to eighth grade), the Standards present an overview of “critical areas” for each grade. (See examples below.)

In high school (Grades 9 to 12), the Standards do not specify which content is to be taught at each grade level. Up to Grade 8, the curriculum is integrated; students study four or five different mathematical domains every year. The Standards do not dictate whether the curriculum should continue to be integrated in high school with study of several domains each year (as is done in other countries, as well as New York and Georgia), or whether the curriculum should be separated out into separate year-long algebra and geometry courses (as has been the tradition in most U.S. states). An appendix[21] to the Standards describes four possible pathways for covering high school content (two traditional and two integrated), but states are free to organize the content any way they want.

There are six conceptual categories of content to be covered at the high school level:

  • Number and quantity;
  • Algebra;
  • Functions;
  • Modeling;
  • Geometry;
  • Statistics and probability.

Some topics in each category are indicated only for students intending to take more advanced, optional courses such as calculus, advanced statistics, or discrete mathematics. Even if the traditional sequence is adopted, functions and modeling are to be integrated across the curriculum, not taught as separate courses. In fact, modeling is also a Mathematical Practice (see above), and is meant to be integrated across the entire curriculum beginning in kindergarten. The modeling category does not have its own standards; instead, high school standards in other categories which are intended to be considered part of the modeling category are indicated in the Standards with a star symbol.

Each of the six high school categories includes a number of domains. For example, the “number and quantity” category contains four domains: the real number system; quantities; the complex number system; and vector and matrix quantities. The “vector and matrix quantities” domain is reserved for advanced students, as are some of the standards in “the complex number system”.

Examples of mathematical content

Second grade example: In the second grade there are 26 standards in four domains. The four critical areas of focus for second grade are (1) extending understanding of base-ten notation; (2) building fluency with addition and subtraction; (3) using standard units of measure; and (4) describing and analyzing shapes. Below are the second grade standards for the domain of “operations and algebraic thinking” (Domain 2.OA). This second grade domain contains four standards, organized into three clusters:

Represent and solve problems involving addition and subtraction.
1. Use addition and subtraction within 100 to solve one- and two-step word problems involving situations of adding to, taking from, putting together, taking apart, and comparing, with unknowns in all positions, e.g., by using drawings and equations with a symbol for the unknown number to represent the problem.
Add and subtract within 20.
2. Fluently add and subtract within 20 using mental strategies. By end of Grade 2, know from memory all sums of two one-digit numbers.
Work with equal groups of objects to gain foundations for multiplication.
3. Determine whether a group of objects (up to 20) has an odd or even number of members, e.g., by pairing objects or counting them by 2s; write an equation to express an even number as a sum of two equal addends.
4. Use addition to find the total number of objects arranged in rectangular arrays with up to 5 rows and up to 5 columns; write an equation to express the total as a sum of equal addends.

Domain example: As an example of the development of a domain across several grades, here are the clusters for learning fractions (Domain NF, which stands for “Number and Operations—Fractions”) in Grades 3 through 6. Each cluster contains several standards (not listed here):

Grade 3:
  • Develop an understanding of fractions as numbers.

Grade 4:

  • Extend understanding of fraction equivalence and ordering.
  • Build fractions from unit fractions by applying and extending previous understandings of operations on whole numbers.
  • Understand decimal notation for fractions, and compare decimal fractions.

Grade 5:

  • Use equivalent fractions as a strategy to add and subtract fractions.
  • Apply and extend previous understandings of multiplication and division to multiply and divide fractions.

In Grade 6, there is no longer a “number and operations—fractions” domain, but students learn to divide fractions by fractions in the number system domain.

High school example: As an example of a high school category, here are the domains and clusters for algebra. There are four algebra domains (in bold below), each of which is broken down into as many as four clusters (bullet points below). Each cluster contains one to five detailed standards (not listed here). Starred standards, such as the Creating Equations domain (A-CED), are also intended to be part of the modeling category.

Seeing Structure in Expressions (A-SSE)

  • Interpret the structure of expressions
  • Write expressions in equivalent forms to solve problems
Arithmetic with Polynomials and Rational Functions (A-APR)

  • Perform arithmetic operations on polynomials
  • Understand the relationship between zeros and factors of polynomials
  • Use polynomial identities to solve problems
  • Rewrite rational expressions
Creating Equations.★ (A-CED)

  • Create equations that describe numbers or relationships
Reasoning with Equations and Inequalities (A-REI)

  • Understand solving equations as a process of reasoning and explain the reasoning
  • Solve equations and inequalities in one variable
  • Solve systems of equations
  • Represent and solve equations and inequalities graphically

As an example of detailed high school standards, the first cluster above is broken down into two standards as follows:

Interpret the structure of expressions
1. Interpret expressions that represent a quantity in terms of its context.★
a. Interpret parts of an expression, such as terms, factors, and coefficients.
b. Interpret complicated expressions by viewing one or more of their parts as a single entity. For example, interpret P(1+r)n as the product of P and a factor not depending on P.
2. Use the structure of an expression to identify ways to rewrite it. For example, see x4y4 as (x2)2 – (y2)2, thus recognizing it as a difference of squares that can be factored as (x2y2)(x2 + y2).

Different standards, by state

States have individual variations on implementing the standards.

Vermont

  • Emphasize basic arithmetic, fractions in elementary school. Focus on memorization instead of reliance on calculators.
  • An Algebra I capability is perceived for elementary school graduates; Algebra II for high school graduates.
  • Improve difficulty level of books being read. Less emphasis on how students “feel” about a book and more on analyzing content.
  • Testing by computer is planned with results available almost “instantly.”[15]

Criticism

Critics question forcing a rigid template on schools already coping with other initiatives like No Child Left Behind. For some states, this will be the third (or more) major change over the past 16 years.[15]

Some critics also question whether there is a demand for creating state standards to begin with. According to the NGA and the CCSSO one motivating factor is the U.S.’s ranking on international test results; however, there does not seem to be a relationship between the US’s low score on these tests and the US’s economic ranking.[22] The United States has ranked 1st or 2nd on the World Economic Forum since 1998 despite scoring near the bottom on the International Mathematics and Science Studies for the past 50 years.[22]

In June 2011, the Voice of America Special English reported on the common core standards on its weekly Education Report for people learning American English. Some commentators criticized the idea that “one size fits all.”[23][24]

In a Huffington Post piece, “Do We Need a Common Core?”, Nicholas Tampio raised two objections to the Common Core. First, he suggests the importance of “America’s historical commitment to local control over school districts,” and the second is his anecdotal discussion of the Common Core claims that the program provide appropriate benchmarks to all students everywhere. He recounts the changes in his son’s kindergarten as the teacher began spending more time teaching from the Common Core curriculum, and says an “inspired kindergarten curriculum has been replaced with a banal one.”

Adoption of Common Core Standards by states

The chart below contains the adoption status of the Common Core Standards as of January 15, 2013.[25] Texas and Alaska are the only states that are not members of the initiative. Nebraska and Virginia are members but have decided not to adopt the standards. Minnesota rejected the Common Core Standards for mathematics, but accepted the English/Language Arts standards.[9] The District of Columbia, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, and the American Samoa Islands have also adopted the standards. Puerto Rico has not adopted the standards.

State Adoption stance
Alabama Formally adopted; repeal legislation introduced in upper and lower houses, February, 2013[26]
Alaska Non-member
Arizona Formally adopted
Arkansas Formally adopted
California Formally adopted
Colorado Formally adopted
Connecticut Formally adopted
Delaware Formally adopted
District of Columbia Formally adopted
Florida Formally adopted
Georgia Formally adopted
Hawaii Formally adopted
Idaho Formally adopted
Illinois Formally adopted
Indiana Formally adopted; repealed in State Senate on February 21, 2013
Iowa Formally adopted
Kansas Formally adopted
Kentucky Formally adopted
Louisiana Formally adopted
Maine Formally adopted
Maryland Formally endorsed
Massachusetts Formally adopted
Michigan Formally adopted
Minnesota Adopted (English standards only, math standards rejected)
Mississippi Formally adopted
Missouri Formally adopted
Montana Formally adopted
Nebraska Initiative member (will not adopt)[27]
Nevada Formally adopted
New Hampshire Formally adopted
New Jersey Formally adopted
New Mexico Formally adopted
New York Formally adopted
North Carolina Formally adopted
North Dakota Formally adopted
Ohio Formally adopted
Oklahoma Formally adopted
Oregon Formally adopted
Pennsylvania Formally adopted
Rhode Island Formally adopted
South Carolina Formally adopted
South Dakota Formally adopted
Tennessee Formally adopted
Texas Non-member
Utah Formally adopted
Vermont Formally adopted
Virginia Initiative member (will not adopt)[28]
Washington Formally adopted
West Virginia Formally adopted
Wisconsin Formally adopted
Wyoming Formally adopted

Assessment

With the implementation of new standards, states are also required to adopt new assessment benchmarks to measure student achievement. According to the Common Core State Standards Initiative website, formal assessment is expected to take place in the 2014–2015 school year, which coincides with the projected implementation year for most states.[13] The assessment has yet to be created, but two consortiums were generated with two different approaches as to how to assess the standards.[29] “26 states formed the PARCC RttT Assessment Consortium. Their approach focused on computer-based ‘through-course assessments’ in each grade combined with streamlined end of year tests, including performance tasks.”[30] The second consortium, “the SMARTER Balance Consortium, brought together 31 states proposing to create adaptive online exams.”[30] The final decision of which assessment to use will be determined by individual state education agencies. The Common Core State Standards website explained that some states plan to work together to create a common, universal assessment system based on the common core state standards while other states are choosing to work independently or through these two consortiums to develop the assessment.[31] Both of these leading consortiums are proposing computer-based exams that include fewer selected and constructed response test items, which moves away from what we typically think of as the Standardized Test most students are currently taking. This kind of assessment would be better aligned to college and career readiness, but does pose some interesting challenges considering the limited computer and technology resources available to some schools.

References

  1. ^ Gibbs, T. H. and Howley, A. (2000). “”World-Class Standards” and Local Pedagogies: Can We Do Both?” Thresholds in Education. ERIC Publications. 51 – 55.
  2. ^ “About Achieve.” (2011) Achieve, Inc. http://www.achieve.org/about-achieve
  3. ^ “Closing the Expectations Gap 2011: Sixth Annual 50-State Progress Report.” (2011). Achieve, Inc. <http://www.achieve.org/ClosingtheExpectationsGap2011&gt;
  4. ^ “Ready or Not: Creating a High School Diploma That Counts.” (2004) Achieve, Inc. <http://www.achieve.org/ReadyorNot&gt;
  5. ^ a b c “Ready or Not”
  6. ^ NGA Press Release announcing the Common State Standards Initiative
  7. ^ a b http://www.corestandards.org
  8. ^ http://www.corestandards.org/in-the-states States adopting the Core Standards
  9. ^ a b http://minnesota.publicradio.org/display/web/2012/06/12/daily-circuit-minnesota-adopting-common-core
  10. ^ Department of Education. President Obama, U.S. Secretary of Education Duncan Announce National Competition to Advance School Reform. Ed.gov. 24 July 2009. Web. 10 Oct. 2011. <http://www2.ed.gov/news/pressreleases/2009/07/07242009.html&gt;
  11. ^ “U.S Department of Education”
  12. ^ Fletcher, G. H. (2010). “Race to the Top: No District Left Behind.” T. H. E Journal 37 (10): 17 – 18.
  13. ^ a b http://www.corestandards.org
  14. ^ Anderson, Nick (March 10, 2010). “Common set of school standards to be proposed”. Washington Post. p. A1.
  15. ^ a b c d Walsh, Molly (14 September 2010). “Vermont joins 30 otherws in Common Core”. Burlington, Vermont: Burlington Free Press. pp. 1B.
  16. ^ http://www.corestandards.org/assets/CCSSI_ELA%20Standards.pdf
  17. ^ a b c d e f g h i j k l m “Key Points in English Language Arts. (2011). <http://www.corestandards.org/about-the-standards/key-points-in-english-language-arts&gt;
  18. ^ ”Hawaii No Longer Requires Teaching Cursive In Schools”. Huffpost Education. 1 August 2011.
  19. ^ mathematics Standards
  20. ^ Garfunkel, S. A. (2010). “The National Standards Train: You Need to Buy Your Ticket.” UMAP J 31 (4): 277 – 280.
  21. ^ appendix
  22. ^ a b Tienken, C. H. (2010). “Common Core State Standards: I Wonder?” Kappa Delta Pi Rec 47 (1): 14 – 17.
  23. ^ Transcript and MP3 of part one:Should All US Students Learn the Same Thing?
  24. ^ Part two: No National Standards: Strength or Weakness for Schools in US?
  25. ^ In the States (Common Core Standards Initiative website)
  26. ^ “Legislation would block Alabama from implementing national curriculum standards (updated)” Alabama Media Group, http://blog.al.com/wire/2013/02/legislation_would_block_alabam.html
  27. ^ “Nebraska one of few states not adopting standards”. The Grand Island Independent. 2013-01-05.
  28. ^ “Virginia’s stance against national standards is a blow for students”. The Washington Post. 2010-06-05.
  29. ^ “Common Core State Standards and Assessment Coalitions.” Education Insider. 9 Sept. 2010. Web. 10 Oct. 2011. <http://www.whiteboardadvisors.com/research/education-insider- common-core-standards-and-assessment-coalitions>
  30. ^ a b “Common Core State Standards and Assessment Coalitions”
  31. ^ “Common Core State Standards: In the States”

External links

For resources to use in the classroom visit http://www.commoncoreconversation.com/

Related Posts On Pronk Palisades

Big Brother Bill Gates Funds k-12 Tracking of Students With InBloom Database — Invasion of Privacy — Opt Out — Videos

Read Full Post | Make a Comment ( None so far )

The Century: America’s Time — Videos

Posted on March 10, 2013. Filed under: American History, Blogroll, Books, Business, College, Communications, Economics, Education, Employment, Energy, European History, Farming, Federal Government, Federal Government Budget, Films, Fiscal Policy, Food, Foreign Policy, government, government spending, Health Care, history, Homes, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Music, People, Philosophy, Politics, Psychology, Rants, Raves, Regulations, Religion, Resources, Security, Talk Radio, Tax Policy, Unemployment, Video, War, Wealth, Weather, Wisdom | Tags: , , |

the-century-americas-time-dvd-peter-jennings-history-b547Copy_of_the_century__78_percent_NEW_repaired

The Century: America’s Time – The Beginning: Seeds of Change

The Century: America’s Time – 1914-1919: Shell Shock

The Century: America’s Time – 1920-1929 Boom to Bust

The Century: America’s Time – 1929-1936 Stormy Weather

The Century: America’s Time – 1936-1941 Over the Edge

The Century: America’s Time – 1941-1945 Civilians at War

The Century: America’s Time – 1946-1952 Best Years

The Century: America’s Time – 1953-1960 Happy Daze

The Century: America’s Time – 1960-1964 Poisoned Dreams

The Century: America’s Time – 1965-1970 Unpinned

The Century: America’s Time – 1971-1975 Approaching the Apocalypse

The Century: America’s Time – 1976-1980 Starting Over

The Century: America’s Time – 1981-1989 A New World

The Century: America’s Time – 1990-1999 – Then and Now

Read Full Post | Make a Comment ( None so far )

Petulant President With Narcissist Personality Disorder Closes White House Tours — Olympus (White House) Has Fallen — Narcissist Controls White House — Americans Do Not Negotiate With Narcissists — Obama Is No Lincoln — The Great Pretender — Videos

Posted on March 5, 2013. Filed under: American History, Blogroll, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, history, Law, liberty, Life, Links, Macroeconomics, media, People, Philosophy, Politics, Raves, Resources, Tax Policy, Taxes, Unemployment, Video, War, Wisdom | Tags: , , , , , , , , |

White_House_Tours

Obama Cuts White House Tours Due to Sequester …(Tours Are Led by Volunteers)

Sequester Puts End to White House Tours

A New Way to Tour the White House

white house closed

Olympus Has Fallen – Official Trailer (HD)

obama-narcissist-in-chief1

Obama’s Psychopathic Narcissism / Megalomania

Obama Clinical Narcissist Interview II Sam Vaknin Sep2011

Obama: Narcissist’s Reaction to Failure and Defeat

malignant-narcissism-narcissist-obama

arrogant-obama

The Great Pretender

smileynarcissist-in-chief1

More sequester pain: White House cancels tours

By Stephen Dinan – The Washington Times

“…The White House announced Tuesday that it was canceling all public tours of the president’s home because of the sequester spending cuts.

“Due to staffing reductions resulting from sequestration, we regret to inform you that White House Tours will be canceled effective Saturday, March 9, 2013 until further notice. Unfortunately, we will not be able to reschedule affected tours,” the White House said in an email.

The notice comes as both the White House and Congress try to find cuts to their own budgets as part of $85 billion in cuts to the entire government.

As President Obama was returning from visiting wounded veterans at Walter Reed Medical Center, a reporter shouted a question about the decision to cancel the tours as Mr. Obama was walking from Marine One to the Oval Office.

He simply smiled and waved.

At the Capitol, staffers who use the building’s West Front entrance that looks out on the National Mall were told Tuesday that door would be closed as of next week in order to save money. …”

By Kathleen HennesseyMarch 5, 2013

“…  The White House has been struggling to highlight cutbacks at federal agencies now that the so-called sequester has hit. On Tuesday, it found one close to home.

Tours of the executive mansion will be canceled starting March 9, the White House announced, citing “staffing reductions resulting from sequestration.” The tours will not be rescheduled and the freeze will be in effect “until further notice.”

The cancellation will annoy plenty of tourists who tour the White House after securing their tickets well in advance through their elected representative’s office. It will also certainly annoy those congressional offices that must begin notifying disappointed constituents.

“We very much regret having to take this action, particularly during the popular spring touring season,” the White House said in a recorded message on the tour hotline.

Within hours of the announcement, Republicans began to criticize the decision as a stunt. One GOP congressman offered his own solution to the budget cutting at the White House. In an amendment to a bill to fund the government, Texas Rep. Louis Gohmert proposed that none of the money “may be used to transport the president to or from a golf course until public tours of the White House resume.”

The automatic budget cuts are a result of a deficit-reduction deal signed into law in 2011. Lawmakers and the White House agreed to the across-the-board cuts, hoping that the prospect of finding $85 billion in immediate savings would spark compromise on a broader deficit and debt-reduction deal. It did not.

In the lead-up to the budget cuts, which kicked in on Friday, the White House tried to pressure Republican lawmakers to reach a deal by highlighting the pain that would come from axing federal services. But its top spokespeople on the matter occasionally overstepped. …”

White House cancels tours over sequester cuts, as lawmakers call decision political

“…Sorry, Washington-bound spring-breakers. Your White House tours have been canceled.

The Obama administration announced Tuesday that it will cancel all tours starting this weekend, due to sequester cuts. The move prompted swift condemnation from Republican lawmakers, who described the decision as the latest attempt to make the sequester seem worse than it is.

“It’s politically motivated,” Rep. Kevin Cramer, R-N.D., told Fox News. “It seems childish — take my ball and go home.”

Rep. Ted Poe, R-Texas, declared in a statement that “the people have been banned from the people’s house.”

The announcement is the latest from the administration about the impact of the cuts that went into effect last Friday. Congressional staffers received a terse email saying White House tours would be canceled effective this Saturday.

The email cited “staffing reductions” from the sequester.

“Unfortunately, we will not be able to reschedule affected tours,” the notice said. “We very much regret having to take this action, particularly during the popular Spring touring season.”

White House tours, which are self-guided, are typically scheduled through members of Congress. Visitors can request a tour through their representative up to six months in advance.

Anyone arriving after Saturday, though, is in for a disappointment.

A recorded message on the White House visitor’s hotline Tuesday confirmed that the tours will soon be nixed until “further notice.”

A senior administration official later explained to Fox News that the cancellation arose from Secret Service staffing decisions. According to the Secret Service, officers normally assigned to the public tours are being reassigned to other posts. The Service says the move will reduce costs and “ultimately reduce the number of potential furloughs necessary by our agency.”

Cramer said if he were to give the administration the benefit of the doubt, he could see White House tours being on the list of nonessential items. He said he doesn’t think they’ll close the White House to the public forever.

Rep. Mike Simpson, R-Idaho, said the decision is just a bid to pressure Republican members to change course on the sequester — he said it would not be successful.

But Rep. Joyce Beatty, D-Ohio, told Fox News this is another reason why both sides should figure out a compromise. She said the closure of White House tours will be “alarming” for children coming to D.C. for spring break.

The annual National Cherry Blossom Festival also attracts droves of tourists in late March and early April, though the White House can no longer be on their itinerary.

The administration has announced a raft of expected cutbacks in response to the sequester. The Defense Department, and other federal agencies, are planning to furlough thousands of workers to save money. Congress also announced that it would cut back on foreign travel.

Can You Diagnose Your Narcissist?

How to Cope With a Vindictive Narcissist?

Faces of Narcissist’s Aggression

Narcissistic Personality Disorder: A Portrait

Related Posts On Pronk Palisades

Narcissistic Personality Disorder–Videos

Jim Jones–Cult of Personality–The Tragedy of Jonestown–Videos

Richard Kuklinski–The Ice Man–Videos

Sam Vaknin–Videos

There Are No Coincidences: Three Progressive Presidents Won The Nobel Peace Prize–Theodore Roosevelt, Woodrow Wilson, and Barack Obama–Narcissistic Personality Disorder!

Read Full Post | Make a Comment ( None so far )

All Governments Lie–The Coming Collapse of United States Economy — Videos

Posted on February 23, 2013. Filed under: Agriculture, American History, Blogroll, Books, Business, College, Communications, Crime, Demographics, Diasters, Economics, Education, Employment, Farming, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, Inflation, Investments, Law, liberty, Life, Links, media, Oil, People, Philosophy, Politics, Psychology, Raves, Resources, Tax Policy, Taxes, Technology, Transportation, Unemployment, Unions, Video, War, Water, Wealth, Wisdom | Tags: , , , , |

not-a-recession-yet

Jim Rogers Fed’s Money Printing – Coming Economic Collapse

 

Food Crisis – The Total Collapse Of The U.S. Economy Is 100%

Financial Collapse this Spring – Survive the Food Crisis

Prepare Yourself – America Will Collapse

Countdown to Economic Collapse (2-18-2013)

After America Collapses, What Comes Next?

Economic Collapse Is Imminent

The Economic Collapse and The End Of Our Liberty [HQ movie]

Read Full Post | Make a Comment ( None so far )

Amity Shlaes–Coolidge–Videos

Posted on February 19, 2013. Filed under: Agriculture, American History, Blogroll, Books, Business, College, Communications, Economics, Education, Employment, Farming, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, People, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Resources, Talk Radio, Tax Policy, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , |

coolidge_calvin

amity_shlaes_calvin_coolidge

President Coolidge, 1st Presidential Film (1924)

President Coolidge’s Inauguration  (1925) 

Calvin Coolidge: The Best President You’ve Never Heard Of – Amity Shlaes

Calvin Coolidge book by Amity Shlaes on w/ Glenn Beck on The Blaze TV

Amity Shlaes, Author, “Coolidge”

Digital Age-Why is Coolidge the Forgotten President?-Amity Shlaes

“How They Did It” – Part 1 of 4

“How They Did It” – Part 2 of 4

“How They Did It” – Part 3 of 4

“How They Did It” – Part 4 of 4

Background Articles and Videos

Keep Cool With Coolidge, Not Obama: Obama Reveals His True Hatred of Business

Related Posts On Pronk Palisades

Calvin Coolidge–Videos

Read Full Post | Make a Comment ( None so far )

Santa Obama’s $9 Minimum Wage: Good Propaganda, Bad Economics–Videos

Posted on February 19, 2013. Filed under: American History, Blogroll, Business, College, Communications, Demographics, Diasters, Economics, Education, Employment, Federal Government, Fiscal Policy, government spending, history, History of Economic Thought, Inflation, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Narcissism, People, Philosophy, Politics, Psychology, Public Sector, Rants, Raves, Regulations, Resources, Talk Radio, Technology, Unemployment, Unions, Video | Tags: , , , , , , , , , , , , , |

Santa Obama’s $9 minimum wage: good propaganda, bad economics

By Raymond Thomas Pronk

Presidential economic policies like the proverbial “road to hell” are often paved with good intentions.

In his 2013 State of the Union address, President Barack Obama said:

“Even with the tax relief we’ve put in place, a family with two kids that earns the minimum wage still lives below the poverty line. That’s wrong. Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full time should have to live in poverty and raise the federal minimum wage to $9 an hour. This single step would raise the incomes of millions of working families. It could mean the difference between groceries or the food bank; rent or eviction; scraping by or finally getting ahead. For businesses across the country, it would mean customers with more money in their pockets.”

Why not increase the minimum wage to $18 per hour and win America’s war on poverty?

What are the economic consequences or impact of a $9 minimum wage on young high school and college students seeking employment? A decidedly negative impact if economic history is any guide.

The large increase in teenage unemployment is partly driven by the increase in the minimum wage. When the minimum wage rate was increased in July 2008 from $5.85 to $6.55 there was an upward spike in the teenage unemployment rate to greater than 20 percent. When the minimum wage was again increased in July 2009 from $6.55 to its current rate of $7.25, there was another upward spike in the teenage unemployment rate to greater than 25 percent. This rising trend of upward spikes in teenage unemployment rates after an increase in the minimum wage is reflected in the following chart.

Unemployment rate or percent of 16-19 years from 1948 to present

             unemployment_rate_1948_present_16_19-years_edited           

Source: Bureau of Labor Statistics, Department of Labor

David Neumark, professor of economics at the University of California, Irvine and William L. Wascher, deputy director in the Division of Research and Statistics at the Federal Reserve Board, in their book, “Minimum Wages,” provide a comprehensive review of the evidence on the economic effects of minimum wage laws. They concluded that such laws reduce employment opportunities for less-skilled workers, tend to reduce their earnings and are not very effective in reducing poverty.

If Congress passes an increase in the minimum wage to $9 as proposed by Obama, young, inexperienced, low-skill workers, especially blacks and Hispanics, will again be hurt for they will not be hired by businesses who cannot afford to pay them the higher mandated minimum wage. This will be reflected in yet another spike upward in the teenage unemployment rate that might exceed 30 percent.

Furthermore, young American citizens, especially blacks and Hispanics, will face stiff competition from the more than 11 million illegal aliens who predominantly seek low-skilled jobs. Obama and progressives in both the Democratic and Republican parties want to grant these illegal aliens immediate legal status to work in the U.S.

Obama is repeating the past economic policy mistakes of progressive presidents from both political parties such as Hoover, Roosevelt, Truman, Johnson, Nixon, Carter and the Bushes in mandating higher than free market wage rates. These well-intentioned but massive government interventionist economic policies lead to prolonged depressions and recessions with high unemployment rates, especially for young, inexperienced, low skilled and minority workers.

Thirty years ago the black economist, Walter E. Williams, explored the effects of federal and state government intervention into the economy, including minimum wage laws, in the PBS documentary, Good Intentions, based upon his 1982 book, “The State Against Blacks.” Those favoring a rise in the federal minimum wage would be well advised to view this video together with “Milton Friedman on the Minimum Wage” on YouTube before advocating an increase in the minimum wage.

For young American citizens an entry-level job paying a lower competitive market wage rate is preferable to no job at a higher government mandated minimum wage.

Good intentions are not enough. Results measured in jobs created count.

Raymond Thomas Pronk is host of the Pronk Pops Show on KDUX web radio from 3-5 p.m. Fridays and author of the companion blog http://www.pronkpops.wordpress.com/

Digital Age-Why is Coolidge the Forgotten President?-Amity Shlaes

Sumner’s Explanation of The Forgotten Man – Revised for the 21st Century

Sumner’s Explanation of The Forgotten Man – Revised for the 21st
Century

By Joshua Lyons 9/25/09

As soon as A observes something which seems to him to be wrong,  from which X is suffering, A talks it over  with B, and A and B then propose to get a law passed – with the praise of Y – to remedy  the evil and help X.

Their law always proposes to determine  what C shall do for X or, in the better case,  what A, B and C shall do for  X.

As for A and B, who get a  law to make themselves do for X what they are willing to do for  him, we have nothing to say except that they might better have done it without  any law, but C is forced to comply with the new law.

All this  is done while Y looks on with glee and proclaims that  A and B are so good for helping poor  X.

A is the  politician
B is the humanitarian, special interest, do-gooder, reformer, social speculator, etc.
C is The Forgotten Man (i.e. you, me, us)
X is the downtrodden, the oppressed, the little guy, the misunderstood, etc.
Y is the Mainstream Media

In other words…
As soon as THE POLITICIAN observes something which seems to him to be wrong, from which THE DOWNTRODDEN is suffering, THE POLITICIAN talks it over with THE HUMANITARIAN, and THE POLITICIAN and THE HUMANITARIAN then propose to get a law passed – with the praise of THE MAINSTREAM MEDIA – to remedy the evil and help THE DOWNTRODDEN.

Their law always proposes to determine what THE FORGOTTEN MAN shall do for THE DOWNTRODDEN or, in the
better case, what THE POLITICIAN, THE HUMANITARIAN and THE FORGOTTEN MAN shall do for THE DOWNTRODDEN.

As for THE POLITICIAN and THE HUMANITARIAN, who get a law to make themselves do for THE DOWNTRODDEN what they are willing to do for him, we have
nothing to say except that they might better have done it without any law, but THE FORGOTTEN MAN is forced to comply with the new law.

All this is done while THE MAINSTREAM MEDIA looks on with glee and proclaims that THE POLITICIAN and THE HUMANITARIAN are so good for helping poor THE DOWNTRODDEN.

The preceding commentary was based on William Graham Sumner’s explanation of The Forgotten Man.

http://forgottenmenblog.blogspot.com/2009/09/sumners-explanation-of-forgotten-man.html

MinimumWage

food-stamps-minimum-wage-graph-1970-2010-no-population

The Truth about the Minimum Wage

Obama: “Raise Minimum Wage to $9 an Hour” – SOTU 2013

More on Minimum Wage

Obama’s $9/Hour SOTU Minimum Wage 

 Milton Friedman on Minimum Wage

Power of the Market – Minimum Wage

Williams with Sowell – Minimum Wage

The Job-Killing Impact of Minimum Wage Laws

“Good Intentions” by Dr. Walter Williams

Dr. Walter Williams’ 1982 PBS documentary “Good Intentions” based on his book, “The State Against Blacks”. The documentary was very controversial at the time it was released and led to many animosities and even threats of murder.

In “Good Intentions”, Dr. Williams examines the failure of the war on poverty and the devastating effect of well meaning government policies on blacks asserting that the state harms people in the U.S. more than it helps them. He shows how government anti-poverty programs have often locked people into poverty making the points that:

- being forced to attend 3rd rate public schools leave students unprepared for working life
- minimum wages prevent young people from obtaining jobs at an early age
- licensing and labor laws have had the effect of restricting entrance of blacks into the skilled trades and unions
- the welfare system creates perverse incentives for the poor to make bad choices they otherwise would not

Dr. Williams presents the following solutions to these problems:

Failing Public Schools – Give parents greater control over their children’s education by setting up a tuition tax credit or voucher system to broaden competition in turn revitalizing both public and non-public schools

Minimum Wages – Remove the minimum wage from youngsters to give more young people the chance to learn the world of work at an early age instead spending their free time idle an possibly falling into the habits of the street

Restrictive Labor Laws, Jobs Programs – Eliminate government roadblocks that prevent new entrepreneurs from starting their own business

Welfare Programs – Enact a compassionate welfare system such as a negative income tax which would remove dependency and dis-incentives for the poor to get themselves out of poverty

Scholars interviewed in the documentary include Donald Eberle, Charles Murray, and George Gilder.

Good Intentions 1 of 3 Introduction and Public Schools with Walter Williams

Good Intentions 2 of 3 Minimum Wage, Licensing, and Labor Laws with Walter

Good Intentions 3 of 3 The Welfare System and Conclusions with Walter Williams 

Government Intervention and Individual Freedom | Walter Williams

Obama: “Time to Pass Immigration Reform” – State of the Union 2013 

Contrasting Views of the Great Depression | Robert P. Murphy

 

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

Uncommon Knowledge: The Great Depression with Amity Shlaes

Calvin Coolidge: The Best President You’ve Never Heard Of – Amity Shlaes

Amity Shlaes, Author, “Coolidge”

Keep Cool With Coolidge, Not Obama: Obama Reveals His True Hatred of Business

Obama Wants $9 Minimum Wage…

 

Read Full Post | Make a Comment ( None so far )

President Barack Obama’s State of The Union Address, February 12, 2013– Rand Paul’s Tea Party Response and Marc Rubio’s Republican Response–Videos

Posted on February 12, 2013. Filed under: Banking, Blogroll, College, Communications, Culture, Economics, Education, Employment, Energy, Enivornment, Entertainment, Farming, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, Golf, government, government spending, history, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Money, Narcissism, People, Philosophy, Politics, Psychology, Public Sector, Quotations, Rants, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Transportation, Unemployment, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , |

Newtown-residents-invited-to-President-Obamas-State-of-the-Union-Address

how_congress_spends_your_money_chart

SurplusDeficitGDP

us_president_barack_obama_spending_money_for_debt_policy_speech_strategy_comic_political_cartoon_economist_funny_best_top_free_greatest1

The 2013 State of the Union Address

Rand Paul Gives The Tea Party Response To The President’s State of the Union Address

Marco Rubio – 2013 State of the Union – GOP Response w/ Water Break (12:01) (English)

Obama--State-of-the-Union-2013-4-jpg


Transcript: Obama’s State Of The Union Address As Prepared For Delivery

 

Mr. Speaker, Mr. Vice President, Members of Congress, fellow citizens:


Fifty-one years ago, John F. Kennedy declared to this Chamber that “the Constitution makes us not rivals for power but partners for progress…It is my task,” he said, “to report the State of the Union – to improve it is the task of us all.”


Tonight, thanks to the grit and determination of the American people, there is much progress to report. After a decade of grinding war, our brave men and women in uniform are coming home. After years of grueling recession, our businesses have created over six million new jobs. We buy more American cars than we have in five years, and less foreign oil than we have in twenty. Our housing market is healing, our stock market is rebounding, and consumers, patients, and homeowners enjoy stronger protections than ever before.


Together, we have cleared away the rubble of crisis, and can say with renewed confidence that the state of our union is stronger.


But we gather here knowing that there are millions of Americans whose hard work and dedication have not yet been rewarded. Our economy is adding jobs – but too many people still can’t find full-time employment. Corporate profits have rocketed to all-time highs – but for more than a decade, wages and incomes have barely budged.


It is our generation’s task, then, to reignite the true engine of America’s economic growth – a rising, thriving middle class.


It is our unfinished task to restore the basic bargain that built this country – the idea that if you work hard and meet your responsibilities, you can get ahead, no matter where you come from, what you look like, or who you love.


It is our unfinished task to make sure that this government works on behalf of the many, and not just the few; that it encourages free enterprise, rewards individual initiative, and opens the doors of opportunity to every child across this great nation.


The American people don’t expect government to solve every problem. They don’t expect those of us in this chamber to agree on every issue. But they do expect us to put the nation’s interests before party. They do expect us to forge reasonable compromise where we can. For they know that America moves forward only when we do so together; and that the responsibility of improving this union remains the task of us all.


Our work must begin by making some basic decisions about our budget – decisions that will have a huge impact on the strength of our recovery.


Over the last few years, both parties have worked together to reduce the deficit by more than $2.5 trillion – mostly through spending cuts, but also by raising tax rates on the wealthiest 1 percent of Americans. As a result, we are more than halfway towards the goal of $4 trillion in deficit reduction that economists say we need to stabilize our finances.


Now we need to finish the job. And the question is, how?


In 2011, Congress passed a law saying that if both parties couldn’t agree on a plan to reach our deficit goal, about a trillion dollars’ worth of budget cuts would automatically go into effect this year. These sudden, harsh, arbitrary cuts would jeopardize our military readiness. They’d devastate priorities like education, energy, and medical research. They would certainly slow our recovery, and cost us hundreds of thousands of jobs. That’s why Democrats, Republicans, business leaders, and economists have already said that these cuts, known here in Washington as “the sequester,” are a really bad idea.


Now, some in this Congress have proposed preventing only the defense cuts by making even bigger cuts to things like education and job training; Medicare and Social Security benefits.


That idea is even worse. Yes, the biggest driver of our long-term debt is the rising cost of health care for an aging population. And those of us who care deeply about programs like Medicare must embrace the need for modest reforms – otherwise, our retirement programs will crowd out the investments we need for our children, and jeopardize the promise of a secure retirement for future generations.


But we can’t ask senior citizens and working families to shoulder the entire burden of deficit reduction while asking nothing more from the wealthiest and most powerful. We won’t grow the middle class simply by shifting the cost of health care or college onto families that are already struggling, or by forcing communities to lay off more teachers, cops, and firefighters. Most Americans – Democrats, Republicans, and Independents – understand that we can’t just cut our way to prosperity. They know that broad-based economic growth requires a balanced approach to deficit reduction, with spending cuts and revenue, and with everybody doing their fair share. And that’s the approach I offer tonight.


On Medicare, I’m prepared to enact reforms that will achieve the same amount of health care savings by the beginning of the next decade as the reforms proposed by the bipartisan Simpson-Bowles commission. Already, the Affordable Care Act is helping to slow the growth of health care costs. The reforms I’m proposing go even further. We’ll reduce taxpayer subsidies to prescription drug companies and ask more from the wealthiest seniors. We’ll bring down costs by changing the way our government pays for Medicare, because our medical bills shouldn’t be based on the number of tests ordered or days spent in the hospital – they should be based on the quality of care that our seniors receive. And I am open to additional reforms from both parties, so long as they don’t violate the guarantee of a secure retirement. Our government shouldn’t make promises we cannot keep – but we must keep the promises we’ve already made.


To hit the rest of our deficit reduction target, we should do what leaders in both parties have already suggested, and save hundreds of billions of dollars by getting rid of tax loopholes and deductions for the well-off and well-connected. After all, why would we choose to make deeper cuts to education and Medicare just to protect special interest tax breaks? How is that fair? How does that promote growth?


Now is our best chance for bipartisan, comprehensive tax reform that encourages job creation and helps bring down the deficit. The American people deserve a tax code that helps small businesses spend less time filling out complicated forms, and more time expanding and hiring; a tax code that ensures billionaires with high-powered accountants can’t pay a lower rate than their hard-working secretaries; a tax code that lowers incentives to move jobs overseas, and lowers tax rates for businesses and manufacturers that create jobs right here in America. That’s what tax reform can deliver. That’s what we can do together.


I realize that tax reform and entitlement reform won’t be easy. The politics will be hard for both sides. None of us will get 100 percent of what we want. But the alternative will cost us jobs, hurt our economy, and visit hardship on millions of hardworking Americans. So let’s set party interests aside, and work to pass a budget that replaces reckless cuts with smart savings and wise investments in our future. And let’s do it without the brinksmanship that stresses consumers and scares off investors. The greatest nation on Earth cannot keep conducting its business by drifting from one manufactured crisis to the next. Let’s agree, right here, right now, to keep the people’s government open, pay our bills on time, and always uphold the full faith and credit of the United States of America. The American people have worked too hard, for too long, rebuilding from one crisis to see their elected officials cause another.


Now, most of us agree that a plan to reduce the deficit must be part of our agenda. But let’s be clear: deficit reduction alone is not an economic plan. A growing economy that creates good, middle-class jobs – that must be the North Star that guides our efforts. Every day, we should ask ourselves three questions as a nation: How do we attract more jobs to our shores? How do we equip our people with the skills needed to do those jobs? And how do we make sure that hard work leads to a decent living?


A year and a half ago, I put forward an American Jobs Act that independent economists said would create more than one million new jobs. I thank the last Congress for passing some of that agenda, and I urge this Congress to pass the rest. Tonight, I’ll lay out additional proposals that are fully paid for and fully consistent with the budget framework both parties agreed to just 18 months ago. Let me repeat – nothing I’m proposing tonight should increase our deficit by a single dime. It’s not a bigger government we need, but a smarter government that sets priorities and invests in broad-based growth.


Our first priority is making America a magnet for new jobs and manufacturing.


After shedding jobs for more than 10 years, our manufacturers have added about 500,000 jobs over the past three. Caterpillar is bringing jobs back from Japan. Ford is bringing jobs back from Mexico. After locating plants in other countries like China, Intel is opening its most advanced plant right here at home. And this year, Apple will start making Macs in America again.


There are things we can do, right now, to accelerate this trend. Last year, we created our first manufacturing innovation institute in Youngstown, Ohio. A once-shuttered warehouse is now a state-of-the art lab where new workers are mastering the 3D printing that has the potential to revolutionize the way we make almost everything. There’s no reason this can’t happen in other towns. So tonight, I’m announcing the launch of three more of these manufacturing hubs, where businesses will partner with the Departments of Defense and Energy to turn regions left behind by globalization into global centers of high-tech jobs. And I ask this Congress to help create a network of fifteen of these hubs and guarantee that the next revolution in manufacturing is Made in America.


If we want to make the best products, we also have to invest in the best ideas. Every dollar we invested to map the human genome returned $140 to our economy. Today, our scientists are mapping the human brain to unlock the answers to Alzheimer’s; developing drugs to regenerate damaged organs; devising new material to make batteries ten times more powerful. Now is not the time to gut these job-creating investments in science and innovation. Now is the time to reach a level of research and development not seen since the height of the Space Race. And today, no area holds more promise than our investments in American energy.


After years of talking about it, we are finally poised to control our own energy future. We produce more oil at home than we have in 15 years. We have doubled the distance our cars will go on a gallon of gas, and the amount of renewable energy we generate from sources like wind and solar – with tens of thousands of good, American jobs to show for it. We produce more natural gas than ever before – and nearly everyone’s energy bill is lower because of it. And over the last four years, our emissions of the dangerous carbon pollution that threatens our planet have actually fallen.


But for the sake of our children and our future, we must do more to combat climate change. Yes, it’s true that no single event makes a trend. But the fact is, the 12 hottest years on record have all come in the last 15. Heat waves, droughts, wildfires, and floods – all are now more frequent and intense. We can choose to believe that Superstorm Sandy, and the most severe drought in decades, and the worst wildfires some states have ever seen were all just a freak coincidence. Or we can choose to believe in the overwhelming judgment of science – and act before it’s too late.


The good news is, we can make meaningful progress on this issue while driving strong economic growth. I urge this Congress to pursue a bipartisan, market-based solution to climate change, like the one John McCain and Joe Lieberman worked on together a few years ago. But if Congress won’t act soon to protect future generations, I will. I will direct my Cabinet to come up with executive actions we can take, now and in the future, to reduce pollution, prepare our communities for the consequences of climate change, and speed the transition to more sustainable sources of energy.


Four years ago, other countries dominated the clean energy market and the jobs that came with it. We’ve begun to change that. Last year, wind energy added nearly half of all new power capacity in America. So let’s generate even more. Solar energy gets cheaper by the year – so let’s drive costs down even further. As long as countries like China keep going all-in on clean energy, so must we.


In the meantime, the natural gas boom has led to cleaner power and greater energy independence. That’s why my Administration will keep cutting red tape and speeding up new oil and gas permits. But I also want to work with this Congress to encourage the research and technology that helps natural gas burn even cleaner and protects our air and water.


Indeed, much of our new-found energy is drawn from lands and waters that we, the public, own together. So tonight, I propose we use some of our oil and gas revenues to fund an Energy Security Trust that will drive new research and technology to shift our cars and trucks off oil for good. If a non-partisan coalition of CEOs and retired generals and admirals can get behind this idea, then so can we. Let’s take their advice and free our families and businesses from the painful spikes in gas prices we’ve put up with for far too long. I’m also issuing a new goal for America: let’s cut in half the energy wasted by our homes and businesses over the next twenty years. The states with the best ideas to create jobs and lower energy bills by constructing more efficient buildings will receive federal support to help make it happen.


America’s energy sector is just one part of an aging infrastructure badly in need of repair. Ask any CEO where they’d rather locate and hire: a country with deteriorating roads and bridges, or one with high-speed rail and internet; high-tech schools and self-healing power grids. The CEO of Siemens America – a company that brought hundreds of new jobs to North Carolina – has said that if we upgrade our infrastructure, they’ll bring even more jobs. And I know that you want these job-creating projects in your districts. I’ve seen you all at the ribbon-cuttings.


Tonight, I propose a “Fix-It-First” program to put people to work as soon as possible on our most urgent repairs, like the nearly 70,000 structurally deficient bridges across the country. And to make sure taxpayers don’t shoulder the whole burden, I’m also proposing a Partnership to Rebuild America that attracts private capital to upgrade what our businesses need most: modern ports to move our goods; modern pipelines to withstand a storm; modern schools worthy of our children. Let’s prove that there is no better place to do business than the United States of America. And let’s start right away.


Part of our rebuilding effort must also involve our housing sector. Today, our housing market is finally healing from the collapse of 2007. Home prices are rising at the fastest pace in six years, home purchases are up nearly 50 percent, and construction is expanding again.


But even with mortgage rates near a 50-year low, too many families with solid credit who want to buy a home are being rejected. Too many families who have never missed a payment and want to refinance are being told no. That’s holding our entire economy back, and we need to fix it. Right now, there’s a bill in this Congress that would give every responsible homeowner in America the chance to save $3,000 a year by refinancing at today’s rates. Democrats and Republicans have supported it before. What are we waiting for? Take a vote, and send me that bill. Right now, overlapping regulations keep responsible young families from buying their first home. What’s holding us back? Let’s streamline the process, and help our economy grow.


These initiatives in manufacturing, energy, infrastructure, and housing will help entrepreneurs and small business owners expand and create new jobs. But none of it will matter unless we also equip our citizens with the skills and training to fill those jobs. And that has to start at the earliest possible age.


Study after study shows that the sooner a child begins learning, the better he or she does down the road. But today, fewer than 3 in 10 four year-olds are enrolled in a high-quality preschool program. Most middle-class parents can’t afford a few hundred bucks a week for private preschool. And for poor kids who need help the most, this lack of access to preschool education can shadow them for the rest of their lives.


Tonight, I propose working with states to make high-quality preschool available to every child in America. Every dollar we invest in high-quality early education can save more than seven dollars later on – by boosting graduation rates, reducing teen pregnancy, even reducing violent crime. In states that make it a priority to educate our youngest children, like Georgia or Oklahoma, studies show students grow up more likely to read and do math at grade level, graduate high school, hold a job, and form more stable families of their own. So let’s do what works, and make sure none of our children start the race of life already behind. Let’s give our kids that chance.


Let’s also make sure that a high school diploma puts our kids on a path to a good job. Right now, countries like Germany focus on graduating their high school students with the equivalent of a technical degree from one of our community colleges, so that they’re ready for a job. At schools like P-Tech in Brooklyn, a collaboration between New York Public Schools, the City University of New York, and IBM, students will graduate with a high school diploma and an associate degree in computers or engineering.


We need to give every American student opportunities like this. Four years ago, we started Race to the Top – a competition that convinced almost every state to develop smarter curricula and higher standards, for about 1 percent of what we spend on education each year. Tonight, I’m announcing a new challenge to redesign America’s high schools so they better equip graduates for the demands of a high-tech economy. We’ll reward schools that develop new partnerships with colleges and employers, and create classes that focus on science, technology, engineering, and math – the skills today’s employers are looking for to fill jobs right now and in the future.


Now, even with better high schools, most young people will need some higher education. It’s a simple fact: the more education you have, the more likely you are to have a job and work your way into the middle class. But today, skyrocketing costs price way too many young people out of a higher education, or saddle them with unsustainable debt.


Through tax credits, grants, and better loans, we have made college more affordable for millions of students and families over the last few years. But taxpayers cannot continue to subsidize the soaring cost of higher education. Colleges must do their part to keep costs down, and it’s our job to make sure they do. Tonight, I ask Congress to change the Higher Education Act, so that affordability and value are included in determining which colleges receive certain types of federal aid. And tomorrow, my Administration will release a new “College Scorecard” that parents and students can use to compare schools based on a simple criteria: where you can get the most bang for your educational buck.


To grow our middle class, our citizens must have access to the education and training that today’s jobs require. But we also have to make sure that America remains a place where everyone who’s willing to work hard has the chance to get ahead.


Our economy is stronger when we harness the talents and ingenuity of striving, hopeful immigrants. And right now, leaders from the business, labor, law enforcement, and faith communities all agree that the time has come to pass comprehensive immigration reform.


Real reform means strong border security, and we can build on the progress my Administration has already made – putting more boots on the southern border than at any time in our history, and reducing illegal crossings to their lowest levels in 40 years.


Real reform means establishing a responsible pathway to earned citizenship – a path that includes passing a background check, paying taxes and a meaningful penalty, learning English, and going to the back of the line behind the folks trying to come here legally.


And real reform means fixing the legal immigration system to cut waiting periods, reduce bureaucracy, and attract the highly-skilled entrepreneurs and engineers that will help create jobs and grow our economy.


In other words, we know what needs to be done. As we speak, bipartisan groups in both chambers are working diligently to draft a bill, and I applaud their efforts. Now let’s get this done. Send me a comprehensive immigration reform bill in the next few months, and I will sign it right away.


But we can’t stop there. We know our economy is stronger when our wives, mothers, and daughters can live their lives free from discrimination in the workplace, and free from the fear of domestic violence. Today, the Senate passed the Violence Against Women Act that Joe Biden originally wrote almost 20 years ago. I urge the House to do the same. And I ask this Congress to declare that women should earn a living equal to their efforts, and finally pass the Paycheck Fairness Act this year.


We know our economy is stronger when we reward an honest day’s work with honest wages. But today, a full-time worker making the minimum wage earns $14,500 a year. Even with the tax relief we’ve put in place, a family with two kids that earns the minimum wage still lives below the poverty line. That’s wrong. That’s why, since the last time this Congress raised the minimum wage, nineteen states have chosen to bump theirs even higher.


Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9.00 an hour. This single step would raise the incomes of millions of working families. It could mean the difference between groceries or the food bank; rent or eviction; scraping by or finally getting ahead. For businesses across the country, it would mean customers with more money in their pockets. In fact, working folks shouldn’t have to wait year after year for the minimum wage to go up while CEO pay has never been higher. So here’s an idea that Governor Romney and I actually agreed on last year: let’s tie the minimum wage to the cost of living, so that it finally becomes a wage you can live on.


Tonight, let’s also recognize that there are communities in this country where no matter how hard you work, it’s virtually impossible to get ahead. Factory towns decimated from years of plants packing up. Inescapable pockets of poverty, urban and rural, where young adults are still fighting for their first job. America is not a place where chance of birth or circumstance should decide our destiny. And that is why we need to build new ladders of opportunity into the middle class for all who are willing to climb them.


Let’s offer incentives to companies that hire Americans who’ve got what it takes to fill that job opening, but have been out of work so long that no one will give them a chance. Let’s put people back to work rebuilding vacant homes in run-down neighborhoods. And this year, my Administration will begin to partner with 20 of the hardest-hit towns in America to get these communities back on their feet. We’ll work with local leaders to target resources at public safety, education, and housing. We’ll give new tax credits to businesses that hire and invest. And we’ll work to strengthen families by removing the financial deterrents to marriage for low-income couples, and doing more to encourage fatherhood – because what makes you a man isn’t the ability to conceive a child; it’s having the courage to raise one.


Stronger families. Stronger communities. A stronger America. It is this kind of prosperity – broad, shared, and built on a thriving middle class – that has always been the source of our progress at home. It is also the foundation of our power and influence throughout the world.


Tonight, we stand united in saluting the troops and civilians who sacrifice every day to protect us. Because of them, we can say with confidence that America will complete its mission in Afghanistan, and achieve our objective of defeating the core of al Qaeda. Already, we have brought home 33,000 of our brave servicemen and women. This spring, our forces will move into a support role, while Afghan security forces take the lead. Tonight, I can announce that over the next year, another 34,000 American troops will come home from Afghanistan. This drawdown will continue. And by the end of next year, our war in Afghanistan will be over.


Beyond 2014, America’s commitment to a unified and sovereign Afghanistan will endure, but the nature of our commitment will change. We are negotiating an agreement with the Afghan government that focuses on two missions: training and equipping Afghan forces so that the country does not again slip into chaos, and counter-terrorism efforts that allow us to pursue the remnants of al Qaeda and their affiliates.


Today, the organization that attacked us on 9/11 is a shadow of its former self. Different al Qaeda affiliates and extremist groups have emerged – from the Arabian Peninsula to Africa. The threat these groups pose is evolving. But to meet this threat, we don’t need to send tens of thousands of our sons and daughters abroad, or occupy other nations. Instead, we will need to help countries like Yemen, Libya, and Somalia provide for their own security, and help allies who take the fight to terrorists, as we have in Mali. And, where necessary, through a range of capabilities, we will continue to take direct action against those terrorists who pose the gravest threat to Americans.


As we do, we must enlist our values in the fight. That is why my Administration has worked tirelessly to forge a durable legal and policy framework to guide our counterterrorism operations. Throughout, we have kept Congress fully informed of our efforts. I recognize that in our democracy, no one should just take my word that we’re doing things the right way. So, in the months ahead, I will continue to engage with Congress to ensure not only that our targeting, detention, and prosecution of terrorists remains consistent with our laws and system of checks and balances, but that our efforts are even more transparent to the American people and to the world.


Of course, our challenges don’t end with al Qaeda. America will continue to lead the effort to prevent the spread of the world’s most dangerous weapons. The regime in North Korea must know that they will only achieve security and prosperity by meeting their international obligations. Provocations of the sort we saw last night will only isolate them further, as we stand by our allies, strengthen our own missile defense, and lead the world in taking firm action in response to these threats.


Likewise, the leaders of Iran must recognize that now is the time for a diplomatic solution, because a coalition stands united in demanding that they meet their obligations, and we will do what is necessary to prevent them from getting a nuclear weapon. At the same time, we will engage Russia to seek further reductions in our nuclear arsenals, and continue leading the global effort to secure nuclear materials that could fall into the wrong hands – because our ability to influence others depends on our willingness to lead.


America must also face the rapidly growing threat from cyber-attacks. We know hackers steal people’s identities and infiltrate private e-mail. We know foreign countries and companies swipe our corporate secrets. Now our enemies are also seeking the ability to sabotage our power grid, our financial institutions, and our air traffic control systems. We cannot look back years from now and wonder why we did nothing in the face of real threats to our security and our economy.


That’s why, earlier today, I signed a new executive order that will strengthen our cyber defenses by increasing information sharing, and developing standards to protect our national security, our jobs, and our privacy. Now, Congress must act as well, by passing legislation to give our government a greater capacity to secure our networks and deter attacks.


Even as we protect our people, we should remember that today’s world presents not only dangers, but opportunities. To boost American exports, support American jobs, and level the playing field in the growing markets of Asia, we intend to complete negotiations on a Trans-Pacific Partnership. And tonight, I am announcing that we will launch talks on a comprehensive Transatlantic Trade and Investment Partnership with the European Union – because trade that is free and fair across the Atlantic supports millions of good-paying American jobs.


We also know that progress in the most impoverished parts of our world enriches us all. In many places, people live on little more than a dollar a day. So the United States will join with our allies to eradicate such extreme poverty in the next two decades: by connecting more people to the global economy and empowering women; by giving our young and brightest minds new opportunities to serve and helping communities to feed, power, and educate themselves; by saving the world’s children from preventable deaths; and by realizing the promise of an AIDS-free generation.


Above all, America must remain a beacon to all who seek freedom during this period of historic change. I saw the power of hope last year in Rangoon – when Aung San Suu Kyi welcomed an American President into the home where she had been imprisoned for years; when thousands of Burmese lined the streets, waving American flags, including a man who said, “There is justice and law in the United States. I want our country to be like that.”


In defense of freedom, we will remain the anchor of strong alliances from the Americas to Africa; from Europe to Asia. In the Middle East, we will stand with citizens as they demand their universal rights, and support stable transitions to democracy. The process will be messy, and we cannot presume to dictate the course of change in countries like Egypt; but we can – and will – insist on respect for the fundamental rights of all people. We will keep the pressure on a Syrian regime that has murdered its own people, and support opposition leaders that respect the rights of every Syrian. And we will stand steadfast with Israel in pursuit of security and a lasting peace. These are the messages I will deliver when I travel to the Middle East next month.


All this work depends on the courage and sacrifice of those who serve in dangerous places at great personal risk – our diplomats, our intelligence officers, and the men and women of the United States Armed Forces. As long as I’m Commander-in-Chief, we will do whatever we must to protect those who serve their country abroad, and we will maintain the best military in the world. We will invest in new capabilities, even as we reduce waste and wartime spending. We will ensure equal treatment for all service members, and equal benefits for their families – gay and straight. We will draw upon the courage and skills of our sisters and daughters, because women have proven under fire that they are ready for combat. We will keep faith with our veterans – investing in world-class care, including mental health care, for our wounded warriors; supporting our military families; and giving our veterans the benefits, education, and job opportunities they have earned. And I want to thank my wife Michelle and Dr. Jill Biden for their continued dedication to serving our military families as well as they serve us.


But defending our freedom is not the job of our military alone. We must all do our part to make sure our God-given rights are protected here at home. That includes our most fundamental right as citizens: the right to vote. When any Americans – no matter where they live or what their party – are denied that right simply because they can’t wait for five, six, seven hours just to cast their ballot, we are betraying our ideals. That’s why, tonight, I’m announcing a non-partisan commission to improve the voting experience in America. And I’m asking two long-time experts in the field, who’ve recently served as the top attorneys for my campaign and for Governor Romney’s campaign, to lead it. We can fix this, and we will. The American people demand it. And so does our democracy.


Of course, what I’ve said tonight matters little if we don’t come together to protect our most precious resource – our children.


It has been two months since Newtown. I know this is not the first time this country has debated how to reduce gun violence. But this time is different. Overwhelming majorities of Americans – Americans who believe in the 2nd Amendment – have come together around commonsense reform – like background checks that will make it harder for criminals to get their hands on a gun. Senators of both parties are working together on tough new laws to prevent anyone from buying guns for resale to criminals. Police chiefs are asking our help to get weapons of war and massive ammunition magazines off our streets, because they are tired of being outgunned.


Each of these proposals deserves a vote in Congress. If you want to vote no, that’s your choice. But these proposals deserve a vote. Because in the two months since Newtown, more than a thousand birthdays, graduations, and anniversaries have been stolen from our lives by a bullet from a gun.


One of those we lost was a young girl named Hadiya Pendleton. She was 15 years old. She loved Fig Newtons and lip gloss. She was a majorette. She was so good to her friends, they all thought they were her best friend. Just three weeks ago, she was here, in Washington, with her classmates, performing for her country at my inauguration. And a week later, she was shot and killed in a Chicago park after school, just a mile away from my house.


Hadiya’s parents, Nate and Cleo, are in this chamber tonight, along with more than two dozen Americans whose lives have been torn apart by gun violence. They deserve a vote.


Gabby Giffords deserves a vote.


The families of Newtown deserve a vote.


The families of Aurora deserve a vote.


The families of Oak Creek, and Tucson, and Blacksburg, and the countless other communities ripped open by gun violence – they deserve a simple vote.


Our actions will not prevent every senseless act of violence in this country. Indeed, no laws, no initiatives, no administrative acts will perfectly solve all the challenges I’ve outlined tonight. But we were never sent here to be perfect. We were sent here to make what difference we can, to secure this nation, expand opportunity, and uphold our ideals through the hard, often frustrating, but absolutely necessary work of self-government.


We were sent here to look out for our fellow Americans the same way they look out for one another, every single day, usually without fanfare, all across this country. We should follow their example.


We should follow the example of a New York City nurse named Menchu Sanchez. When Hurricane Sandy plunged her hospital into darkness, her thoughts were not with how her own home was faring – they were with the twenty precious newborns in her care and the rescue plan she devised that kept them all safe.


We should follow the example of a North Miami woman named Desiline Victor. When she arrived at her polling place, she was told the wait to vote might be six hours. And as time ticked by, her concern was not with her tired body or aching feet, but whether folks like her would get to have their say. Hour after hour, a throng of people stayed in line in support of her. Because Desiline is 102 years old. And they erupted in cheers when she finally put on a sticker that read “I Voted.”


We should follow the example of a police officer named Brian Murphy. When a gunman opened fire on a Sikh temple in Wisconsin, and Brian was the first to arrive, he did not consider his own safety. He fought back until help arrived, and ordered his fellow officers to protect the safety of the Americans worshiping inside – even as he lay bleeding from twelve bullet wounds.


When asked how he did that, Brian said, “That’s just the way we’re made.”


That’s just the way we’re made.


We may do different jobs, and wear different uniforms, and hold different views than the person beside us. But as Americans, we all share the same proud title:


We are citizens. It’s a word that doesn’t just describe our nationality or legal status. It describes the way we’re made. It describes what we believe. It captures the enduring idea that this country only works when we accept certain obligations to one another and to future generations; that our rights are wrapped up in the rights of others; and that well into our third century as a nation, it remains the task of us all, as citizens of these United States, to be the authors of the next great chapter in our American story.


Thank you, God bless you, and God bless the United States of America.

http://www.npr.org/2013/02/12/171841852/transcript-obamas-state-of-the-union-as-prepared-for-delivery


Full Text of Rand Paul’s Tea Party Response to State of the Union

Kentucky Sen. Rand Paul delivered the Tea Party rebuttal to Obama’s State of the Union speech


These are the prepared remarks of Rand Paul’s Tea Party rebuttal to President Obama’s State of the Union Speech. Follow U.S. News’s live coverage here.


I speak to you tonight from Washington, D.C. The state of our economy is tenuous but our people remain the greatest example of freedom and prosperity the world has ever known.


People say America is exceptional. I agree, but it’s not the complexion of our skin or the twists in our DNA that make us unique. America is exceptional because we were founded upon the notion that everyone should be free to pursue life, liberty, and happiness.


For the first time in history, men and women were guaranteed a chance to succeed based NOT on who your parents were but on your own initiative and desire to work.


We are in danger, though, of forgetting what made us great. The President seems to think the country can continue to borrow $50,000 per second. The President believes that we should just squeeze more money out of those who are working.

The path we are on is not sustainable, but few in Congress or in this Administration seem to recognize that their actions are endangering the prosperity of this great nation.

Ronald Reagan said, government is not the answer to the problem, government is the problem.

Tonight, the President told the nation he disagrees. President Obama believes government is the solution: More government, more taxes, more debt.

What the President fails to grasp is that the American system that rewards hard work is what made America so prosperous.

What America needs is not Robin Hood but Adam Smith. In the year we won our independence, Adam Smith described what creates the Wealth of Nations.

He described a limited government that largely did not interfere with individuals and their pursuit of happiness.

All that we are, all that we wish to be is now threatened by the notion that you can have something for nothing, that you can have your cake and eat it too, that you can spend a trillion dollars every year that you don’t have.

I was elected to the Senate in 2010 by people worried about our country, worried about our kids and their future. I thought I knew how bad it was in Washington. But it is worse than I ever imagined.

Congress is debating the wrong things.

Every debate in Washington is about how much to increase spending – a little or a lot.

About how much to increase taxes – a little or a lot.

The President does a big “woe is me” over the $1.2 trillion sequester that he endorsed and signed into law. Some Republicans are joining him. Few people understand that the sequester doesn’t even cut any spending. It just slows the rate of growth. Even with the sequester, government will grow over $7 trillion over the next decade.

Only in Washington could an increase of $7 trillion in spending over a decade be called a cut.

So, what is the President’s answer? Over the past four years he has added over $6 trillion in new debt and may well do the same in a second term. What solutions does he offer? He takes entitlement reform off the table and seeks to squeeze more money out of the private sector.

He says he wants a balanced approach.

What the country really needs is a balanced budget.

Washington acts in a way that your family never could – they spend money they do not have, they borrow from future generations, and then they blame each other for never fixing the problem.

Tonight I urge you to demand a new course.

Demand Washington change their ways, or be sent home.

To begin with, we absolutely must pass a Balanced Budget Amendment to the Constitution!

The amendment must include strict tax and spending limitations.

Liberals complain that the budget can’t be balanced but if you cut just one penny from each dollar we currently spend, the budget would balance within six or seven years.

The Penny Plan has been crafted into a bill that millions of conservatives across the country support.

It is often said that there is not enough bipartisanship up here.

That is not true.

In fact, there is plenty.

Both parties have been guilty of spending too much, of protecting their sacred cows, of backroom deals in which everyone up here wins, but every taxpayer loses.

It is time for a new bipartisan consensus.

It is time Democrats admit that not every dollar spent on domestic programs is sacred. And it is time Republicans realize that military spending is not immune to waste and fraud.

Where would we cut spending; well, we could start with ending all foreign aid to countries that are burning our flag and chanting death to America.

The President could begin by stopping the F-16s and Abrams tanks being given to the radical Islamic government of Egypt.

Not only should the sequester stand, many pundits say the sequester really needs to be at least $4 trillion to avoid another downgrade of America’s credit rating.

Both parties will have to agree to cut, or we will never fix our fiscal mess.

Bipartisanship is not what is missing in Washington. Common sense is.

Trillion-dollar deficits hurt us all.

Printing more money to feed the never-ending appetite for spending hurts us all.

We pay higher prices every time we go to the supermarket or the gas pump. The value of the dollar shrinks with each new day.

Contrary to what the President claims, big government and debt are not a friend to the poor and the elderly. Big-government debt keeps the poor poor and saps the savings of the elderly.

This massive expansion of the debt destroys savings and steals the value of your wages.

Big government makes it more expensive to put food on the table. Big government is not your friend. The President offers you free stuff but his policies keep you poor.

Under President Obama, the ranks of America’s poor swelled to almost 1 in 6 people last year, reaching a new high as long-term unemployment left millions of Americans struggling and out of work.

The cycle must be broken.

The willpower to do this will not come from Congress. It must come from the American people.

Next month, I will propose a five-year balanced budget, a budget that last year was endorsed by taxpayer groups across the country for its boldness, and for actually solving the problem.

I will work with anyone on either side of the aisle who wants to cut spending.

But in recent years, there has been no one to work with.

The President’s massive tax hikes and spending increases have caused his budgets to get ZERO votes in both houses of Congress. Not a single Democrat voted for the President’s budget!

But at least he tried.

Senate Democrats have not even produced a budget in the time I have been in office, a shameful display of incompetence that illustrates their lack of seriousness.

This year, they say they will have a budget, but after just recently imposing hundreds of billions in new taxes, they now say they will include more tax hikes in their budget.

We must stand firm. We must say NO to any MORE tax hikes!

Only through lower taxes, less regulation and more freedom will the economy begin to grow again.

Our party is the party of growth, jobs and prosperity, and we will boldly lead on these issues.

Under the Obama economy, 12 million people are out of work. During the President’s first term 800,000 construction workers lost their jobs and another 800,000 simply gave up on looking for work.

With my five-year budget, millions of jobs would be created by cutting the corporate income tax in half, by creating a flat personal income tax of 17%, and by cutting the regulations that are strangling American businesses.

The only stimulus ever proven to work is leaving more money in the hands of those who earned it!

For those who are struggling we want to you to have something infinitely more valuable than a free phone, we want you to have a job and pathway to success.

We are the party that embraces hard work and ingenuity, therefore we must be the party that embraces the immigrant who wants to come to America for a better future.

We must be the party who sees immigrants as assets, not liabilities.

We must be the party that says, “If you want to work, if you want to become an American, we welcome you.”

For those striving to climb the ladder of success we must fix our schools.

America’s educational system is leaving behind anyone who starts with disadvantages.

We have cut classroom size in half and tripled spending on education and still we lag behind much of the world.

A great education needs to be available for everyone, whether you live on country club lane or in government housing.

This will only happen when we allow school choice for everyone, rich or poor, white, brown, or black.

Let the taxes you pay for education follow each and every student to the school of your choice.

Competition has made America the richest nation in history. Competition can make our educational system the envy of the world.

The status quo traps poor children in a crumbling system of hopelessness.

When every child can, like the President’s kids, go to the school of their choice, then will the dreams of our children come true!

Washington could also use a good dose of transparency, which is why we should fight back against middle of the night deals that end with massive bills no one has read.

We must continue to fight for legislation that forces Congress to read the bills!

We must continue to object when Congress sticks special interest riders on bills in the dead of night!

And if Congress refuses to obey its own rules, if Congress refuses to pass a budget, if Congress refuses to read the bills, then I say:

Sweep the place clean. Limit their terms and send them home!

I have seen the inner sanctum of Congress and believe me there is no monopoly on knowledge there.

If they will not listen, if they will not balance the budget, then we should limit their terms.

We are the party that adheres to the Constitution. We will not let the liberals tread on the Second Amendment!

We will fight to defend the entire Bill of Rights from the right to trial by jury to the right to be free from unlawful searches.

We will stand up against excessive government power wherever we see it.

We cannot and will not allow any President to act as if he were a king.

We will not let any President use executive orders to impinge on the Second Amendment.

We will not tolerate secret lists of American citizens who can be killed without trial.

Montesquieu wrote that there can be no liberty when the executive branch and the legislative branch are combined. Separation of powers is a bedrock principle of our Constitution.

We took the President to court over his unconstitutional recess appointments and won.

If necessary, we will take him to court again if he attempts to legislate by executive order.

Congress must reassert its authority as the protector of these rights, and stand up for them, no matter which party is in power.

Congress must stand as a check to the power of the executive, and it must stand as it was intended, as the voice of the people.

The people are crying out for change. They are asking for us to hear their voices, to fix our broken system, to right our economy and to restore their liberty.

Let us tonight let them know that we hear their voices. That we can and must work together, that we can and must re-chart our course toward a better future.

America has much greatness left in her. We will begin to thrive again when we begin to believe in ourselves again, when we regain our respect for our founding documents, when we balance our budget, when we understand that capitalism and free markets and free individuals are what creates our nation’s prosperity.

Thank you and God Bless America.

http://www.usnews.com/news/articles/2013/02/12/full-text-of-rand-pauls-tea-party-response-to-state-of-the-union?page=4

Text of Senator Marc Rubio’s response to the Union address on Tuesday night

Good evening. I’m Marco Rubio. I’m blessed to represent Florida in the United States Senate. Let me begin by congratulating President Obama on the start of his second term. Tonight, I have the honor of responding to his State of the Union address on behalf of my fellow Republicans.  And I am especially honored to be addressing our brave men and women serving in the armed forces and in diplomatic posts around the world. You may be thousands of miles away, but you are always in our prayers.

The State of the Union address is always a reminder of how unique America is. For much of human history, most people were trapped in stagnant societies, where a tiny minority always stayed on top, and no one else even had a chance.

But America is exceptional because we believe that every life, at every stage, is precious, and that everyone everywhere has a God-given right to go as far as their talents and hard work will take them.

Like most Americans, for me this ideal is personal. My parents immigrated here in pursuit of the opportunity to improve their life and give their children the chance at an even better one. They made it to the middle class, my dad working as a bartender and my mother as a cashier and a maid. I didn’t inherit any money from them. But I inherited something far better – the real opportunity to accomplish my dreams.

This opportunity – to make it to the middle class or beyond no matter where you start out in life – it isn’t bestowed on us from Washington.  It comes from a vibrant free economy where people can risk their own money to open a business. And when they succeed, they hire more people, who in turn invest or spend the money they make, helping others start a business and create jobs.

Presidents in both parties – from John F. Kennedy to Ronald Reagan – have known that our free enterprise economy is the source of our middle-class prosperity.

But President Obama?  He believes it’s the cause of our problems.  That the economic downturn happened because our government didn’t tax enough, spend enough and control enough. And, therefore, as you heard tonight, his solution to virtually every problem we face is for Washington to tax more, borrow more and spend more.

This idea – that our problems were caused by a government that was too small – it’s just not true. In fact, a major cause of our recent downturn was a housing crisis created by reckless government policies.

And the idea that more taxes and more government spending is the best way to help hardworking middle-class taxpayers – that’s an old idea that’s failed every time it’s been tried.

More government isn’t going to help you get ahead.  It’s going to hold you back.

More government isn’t going to create more opportunities.  It’s going to limit them.

And more government isn’t going to inspire new ideas, new businesses and new private sector jobs.  It’s going to create uncertainty.

Because more government breeds complicated rules and laws that a small business can’t afford to follow.

Because more government raises taxes on employers who then pass the costs on to their employees through fewer hours, lower pay and even layoffs.

And because many government programs that claim to help the middle class, often end up hurting them instead.

For example, Obamacare was supposed to help middle-class Americans afford health insurance.  But now, some people are losing the health insurance they were happy with.  And because Obamacare created expensive requirements for companies with more than 50 employees, now many of these businesses aren’t hiring.  Not only that; they’re being forced to lay people off and switch from full-time employees to part-time workers.

Now does this mean there’s no role for government?  Of course not.  It plays a crucial part in keeping us safe, enforcing rules, and providing some security against the risks of modern life. But government’s role is wisely limited by the Constitution. And it can’t play its essential role when it ignores those limits.

There are valid reasons to be concerned about the president’s plan to grow our government. But any time anyone opposes the president’s agenda, he and his allies usually respond by falsely attacking their motives.

When we point out that no matter how many job-killing laws we pass, our government can’t control the weather – he accuses us of wanting dirty water and dirty air.

When we suggest we strengthen our safety net programs by giving states more flexibility to manage them – he accuses us of wanting to leave the elderly and disabled to fend for themselves.

And tonight, he even criticized us for refusing to raise taxes to delay military cuts – cuts that were his idea in the first place.

But his favorite attack of all is that those who don’t agree with him – they only care about rich people.

Mr. President, I still live in the same working-class neighborhood I grew up in. My neighbors aren’t millionaires. They’re retirees who depend on Social Security and Medicare. They’re workers who have to get up early tomorrow morning and go to work to pay the bills. They’re immigrants, who came here because they were stuck in poverty in countries where the government dominated the economy.

The tax increases and the deficit spending you propose will hurt middle-class families. It will cost them their raises. It will cost them their benefits. It may even cost some of them their jobs.

And it will hurt seniors because it does nothing to save Medicare and Social Security.

So Mr. President, I don’t oppose your plans because I want to protect the rich. I oppose your plans because I want to protect my neighbors.

Hard-working middle-class Americans who don’t need us to come up with a plan to grow the government. They want a plan to grow the middle class.

Economic growth is the best way to help the middle class.  Unfortunately, our economy actually shrank during the last three months of 2012.

But if we can get the economy to grow at just 4 percent a year, it would create millions of middle class jobs. And it could reduce our deficits by almost $4 trillion dollars over the next decade.

Tax increases can’t do this. Raising taxes won’t create private-sector jobs. And there’s no realistic tax increase that could lower our deficits by almost $4 trillion. That’s why I hope the president will abandon his obsession with raising taxes and instead work with us to achieve real growth in our economy.

One of the best ways to encourage growth is through our energy industry. Of course solar and wind energy should be a part of our energy portfolio. But God also blessed America with abundant coal, oil and natural gas. Instead of wasting more taxpayer money on so-called “clean energy” companies like Solyndra, let’s open up more federal lands for safe and responsible exploration. And let’s reform our energy regulations so that they’re reasonable and based on common sense. If we can grow our energy industry, it will make us energy independent, it will create middle-class jobs and it will help bring manufacturing back from places like China.

Simplifying our tax code will also help the middle class, because it will make it easier for small businesses to hire and grow.

And we agree with the president that we should lower our corporate tax rate, which is one of the highest in the world, so that companies will start bringing their money and their jobs back here from overseas.

We can also help our economy grow if we have a legal immigration system that allows us to attract and assimilate the world’s best and brightest. We need a responsible, permanent solution to the problem of those who are here illegally. But first, we must follow through on the broken promises of the past to secure our borders and enforce our laws.

Helping the middle class grow will also require an education system that gives people the skills today’s jobs entail and the knowledge that tomorrow’s world will require.

We need to incentivize local school districts to offer more advanced placement courses and more vocational and career training.

We need to give all parents, especially the parents of children with special needs, the opportunity to send their children to the school of their choice.

And because tuition costs have grown so fast, we need to change the way we pay for higher education.

I believe in federal financial aid. I couldn’t have gone to college without it. But it’s not just about spending more money on these programs; it’s also about strengthening and modernizing them.

A 21st century workforce should not be forced to accept 20th century education solutions. Today’s students aren’t only 18-year-olds.  They’re returning veterans. They’re single parents who decide to get the education they need to earn a decent wage. And they’re workers who have lost jobs that are never coming back and need to be retrained.

We need student aid that does not discriminate against programs that non-traditional students rely on – like online courses, or degree programs that give you credit for work experience.

When I finished school, I owed over $100,000 in student loans, a debt I paid off just a few months ago. Today, many graduates face massive student debt. We must give students more information on the costs and benefits of the student loans they’re taking out.

All these measures are key to helping the economy grow. But we won’t be able to sustain a vibrant middle class unless we solve our debt problem.

Every dollar our government borrows is money that isn’t being invested to create jobs. And the uncertainty created by the debt is one reason why many businesses aren’t hiring.

The president loves to blame the debt on President Bush. But President Obama created more debt in four years than his predecessor did in eight.

The real cause of our debt is that our government has been spending $1 trillion more than it takes in every year. That’s why we need a balanced budget amendment.

The biggest obstacles to balancing the budget are programs where spending is already locked in. One of these programs, Medicare, is especially important to me. It provided my father the care he needed to battle cancer and ultimately die with dignity. And it pays for the care my mother receives now.

I would never support any changes to Medicare that would hurt seniors like my mother. But anyone who is in favor of leaving Medicare exactly the way it is right now, is in favor of bankrupting it.

Republicans have offered a detailed and credible plan that helps save Medicare without hurting today’s retirees. Instead of playing politics with Medicare, when is the president going to offer his plan to save it? Tonight would have been a good time for him to do it.

Of course, we face other challenges as well. We were all heart broken by the recent tragedy in Connecticut. We must effectively deal with the rise of violence in our country. But unconstitutionally undermining the Second Amendment rights of law-abiding Americans is not the way to do it.

On foreign policy, America continues to be indispensable to the goal of global liberty, prosperity and safeguarding human rights. The world is a better place when America is the strongest nation on earth. But we can’t remain powerful if we don’t have an economy that can afford it.

In the short time I’ve been here in Washington, nothing has frustrated me more than false choices like the ones the president laid out tonight.

The choice isn’t just between big government or big business. What we need is an accountable, efficient and effective government that allows small and new businesses to create middle class jobs.

We don’t have to raise taxes to avoid the president’s devastating cuts to our military. Republicans have passed a plan that replaces these cuts with responsible spending reforms.

In order to balance our budget, the choice doesn’t have to be either higher taxes or dramatic benefit cuts for those in need.  Instead we should grow our economy so that we create new taxpayers, not new taxes, and so our government can afford to help those who truly cannot help themselves.

And the truth is every problem can’t be solved by government. Many are caused by the moral breakdown in our society. And the answers to those challenges lie primarily in our families and our faiths, not our politicians.

Despite our differences, I know that both Republicans and Democrats love America. I pray we can come together to solve our problems, because the choices before us could not be more important.

If we can get our economy healthy again, our children will be the most prosperous Americans ever.

And if we do not, we will forever be known as the generation responsible for America’s decline.

At a time when one showdown after another ends in short-term deals that do little or nothing about our real problems, some are starting to believe that our government leaders just can’t or won’t make the right choices anymore.

But our strength has never come from the White House or the Capitol.  It’s always come from our people. A people united by the American idea that, if you have a dream and you are willing to work hard, nothing should be impossible.

Americans have always celebrated and been inspired by those who succeed. But it’s the dreams of those who are still trying to make it that sets our nation apart.

Tonight, all across this land, parents will hold their newborn children in their arms for the first time. For many of these parents, life has not gone the way they had planned.

Maybe they were born into circumstances they’ve found difficult to escape. Maybe they’ve made some mistakes along the way. Maybe they’re young mothers, all alone, the father of their child long gone.

But tonight, when they look into the eyes of their child for the first time, their lives will change forever. Because in those eyes, they will see what my parents saw in me, and what your parents saw in you. They will see all the hopes and dreams they once had for themselves.

This dream – of a better life for their children – it’s the hope of parents everywhere. Politicians here and throughout the world have long promised that more government can make those dreams come true.

But we Americans have always known better. From our earliest days, we embraced economic liberty instead. And because we did, America remains one of the few places on earth where dreams like these even have a chance.

Each time our nation has faced great challenges, what has kept us together was our shared hope for a better life.

Now, let that hope bring us together again.  To solve the challenges of our time and write the next chapter in the amazing story of the greatest nation man has ever known.

Thank you for listening.  May God bless all of you. May God bless our president. And may God continue to bless the United States of America.

http://www.sfltimes.com/index.php?option=com_content&task=view&id=12438&Itemid=199

FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
             TABLE 1.  SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  01/13

   PERIOD                                                                     RECEIPTS                OUTLAYS    DEFICIT/SURPLUS (-)
+  ____________________________________________________________  _____________________  _____________________  _____________________
   PRIOR YEAR

     OCTOBER                                                                   163,072                261,539                 98,466
     NOVEMBER                                                                  152,402                289,704                137,302
     DECEMBER                                                                  239,963                325,930                 85,967
     JANUARY                                                                   234,319                261,726                 27,407
     FEBRUARY                                                                  103,413                335,090                231,677
     MARCH                                                                     171,215                369,372                198,157
     APRIL                                                                     318,807                259,690                -59,117
     MAY                                                                       180,713                305,348                124,636
     JUNE                                                                      260,177                319,919                 59,741
     JULY                                                                      184,585                254,190                 69,604
     AUGUST                                                                    178,860                369,393                190,533
     SEPTEMBER                                                                 261,566                186,386                -75,180

       YEAR-TO-DATE                                                          2,449,093              3,538,286              1,089,193

   CURRENT YEAR

     OCTOBER                                                                   184,316                304,311                119,995
     NOVEMBER                                                                  161,730                333,841                172,112
     DECEMBER                                                                  269,508                270,699                  1,191
     JANUARY                                                                   272,225                269,342                 -2,883

       YEAR-TO-DATE                                                            887,778              1,178,193                290,415
 http://www.fms.treas.gov/mts/mts0113.txt
Read Full Post | Make a Comment ( None so far )

Dereliction of Duty By President and Commander-In-Chief Obama–Sleeping While Americans Died–The Big Coverup and Scandal–The President Lied–Videos

Posted on February 7, 2013. Filed under: Blogroll, Communications, Crime, Diasters, Federal Government, government, government spending, Law, liberty, Life, Links, media, People, Philosophy, Pistols, Politics, Raves, Resources, Rifles, Security, Strategy, Talk Radio, Video, War, Weapons, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , |

panic.panic.button

Obama-AWOL-Benghazi

benghazi-cover-up

Benghazi_VICTIMS-2

Former National Security Adiviser Bud McFarlane: For Obama to Do Nothing is Dereliction of Duty

Know The TRUTH ~ Step By Step ~ Bret Baier’s ~ ‘Death and Deceit in Benghazi’

Obama Confronted on Benghazi – Stutters Through Response!

Mark Levin – Obama’s “Dereliction of Duty”

Rush military caller says that Obama ordered no response to Benghazi attack

BREAKING OBAMA MAY GO TO PRISON AND BE IMPEACHED KILLING OUR OWN

Father Of Murdered Navy Seal in Benghazi, Recounts Days After Attack – Judge Jeanine

Graham Questions Military Leaders on Response to Benghazi Attack

Part II: Graham Questions Military Leaders on Benghazi

Sen. Chambliss at Benghazi SASC Hearing

Panetta: Benghazi was a ‘problem of distance and time’.

No Word from Hillary During Benghazi Attack Panetta, Dempsey did not speak to Clinton

Panetta Defends Pentagon’s Benghazi Response

Senator Blunt Questions Secretary Panetta, General Dempsey About Benghazi Attacks

Rand Paul’s Reaction To Defense Secretary Panetta’s Benghazi Testimony – Fox News

Obama vs Panetta on Attacks in Benghazi – Obama Could have saved American Lives

Senators challenge military leaders on Benghazi attack response

“…The top two Defense Department officials were sharply challenged by lawmakers  Thursday on their insistent claims that nothing more could have been done to  save the four Americans who were killed in the Sept. 11 terror attack in  Benghazi.

Secretary Leon Panetta and Joint Chiefs Chairman Gen. Martin Dempsey were  peppered with questions from Republican senators during a hearing before the  Senate Armed Services Committee. The officials claimed military aircraft and  other assets were too far away to get to the scene in time, and suggested armed  aircraft like F16s could have done more harm than good in a chaotic situation.  The senators, though, pressed the officials for a fuller explanation on why  military assets were not deployed to rescue Americans under attack that night –  in what will likely be their last chance to question the outgoing Defense  secretary.

Sen. John McCain, R-Ariz., disputed testimony that the difficulty in  dispatching assets to the scene was “a problem of distance and time.” He  suggested the “light footprint” in the region and a failure to respond to  threats left the military ill-prepared.

“For you to testify that our posture would not allow a rapid response — our  posture was not there because we didn’t take into account the threats to that  consulate, and that’s why four Americans died,” he said. “We could have placed  forces there. We could have had aircraft and other capacity a short distance  away.”

He continued: “No forces arrived there until well after these murders took  place.”

Dempsey acknowledged having gotten word of a warning from the U.S. consulate  about being unable to withstand a sustained attack, but said the military never  got a request for support from the State Department.

“So it’s the State Department’s fault?” McCain asked, curtly.

“I’m not blaming the State Department,” Dempsey said.

McCain responded: “Who would you blame?”

Dempsey went on to claim that several U.S. posts were facing significant  threats, though McCain said none so much as Benghazi.

Shortly afterward, Sen. Lindsey Graham, R-S.C., pressed Panetta again on why  no forces were deployed until after the attack was over. Dempsey and Panetta  said they talked to President Obama one time that night, but Graham questioned  why there weren’t subsequent follow-up conversations.

“It lasted almost eight hours … did the president show any curiosity?”  Graham asked.

Panetta said there was “no question” Obama “was concerned about American  lives.”

“With all due respect,” Graham responded, “I don’t believe that’s a credible  statement if he never called and asked you, ‘are we helping these  people?’”

The secretary’s testimony on Benghazi was long-sought by Republican  lawmakers. After then-Secretary of State Hillary Clinton testified last month,  Graham had demanded that Panetta be brought before the Senate — threatening to  hold up the nomination of his prospective replacement Chuck Hagel over the  issue.

Committee Chairman Carl Levin, D-Mich., announced last week that Panetta  would testify.

Responding to long-running questions about whether more military assets could  have been dispatched to protect those under fire in Libya on Sept. 11, Panetta  in his opening statement claimed there simply wasn’t enough time to do  more.

“There was not enough time given the speed of the attack for armed military  assets to respond,” he said before the Senate Armed Services Committee. “We were  not dealing with a prolonged or continuous assault which could have been brought  to an end by a U.S. military response. … Time, distance, the lack of an  adequate warning, events that moved very quickly on the ground prevented a more  immediate response.”

Still, he said the Pentagon “spared no effort … to save American  lives.”

Panetta was testifying in what may be his final public appearance on Capitol  Hill as he prepares to leave the department.

Panetta, in his testimony, detailed the military response on the day and  night of the attack.

As Fox News has previously reported, he said an unarmed, unmanned drone was  positioned overhead the Benghazi compound.

But he said armed aircraft like AC-130 gunships would have taken too long to  get there — “at least nine to 12 hours if not more to deploy.”

“This was, pure and simple … a problem of distance and time,” he  said.

Panetta said he also directed that a Marine Fleet Antiterrorism Security Team  stationed in Spain prepare to deploy in addition to a second FAST platoon; a  special operations force in Central Europe prepare to deploy to a staging base  in Southern Europe; and a special ops force in the U.S. similarly prepare to  deploy to Southern Europe.

As for what was happening in Libya, he claimed the “quickest response” was  the Tripoli-based team of six people which was sent to Benghazi.

“Members of this team, along with others at the annex facility, provided  emergency medical assistance and supported the evacuation of all personnel. Only  12 hours after the attacks had begun, all remaining U.S. government personnel  had been safely evacuated from Benghazi,” he said.

Since the September assault, some have questioned whether enough was done to  protect those at the consulate and CIA annex in Benghazi. Four Americans,  including U.S. Ambassador Chris Stevens, were killed that night.

There have been questions about the perceived delays CIA officials –  stationed in Benghazi — encountered that night and their frustration that air  support was not sent from nearby Sigonella air base. In recent weeks, Fox News  has learned that the rescue unit that left Tripoli was told that air support  would be above when they landed in Benghazi, but it wasn’t. …”

Read more:  http://www.foxnews.com/politics/2013/02/07/panetta-defends-military-response-to-benghazi-attack-at-senate-hearing/#ixzz2KGmLO0Iu

Read Full Post | Make a Comment ( None so far )

The Coming Obama Recession — Real Recession — Real Recovery Needed –Videos

Posted on January 30, 2013. Filed under: Agriculture, American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, Natural Gas, Oil, People, Philosophy, Politics, Public Sector, Radio, Raves, Regulations, Resources, Security, Talk Radio, Tax Policy, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom |

gdp_large

first_look_fourth_quarter

JobLossesJan2013

http://www.calculatedriskblog.com/2013/02/january-employment-report-157000-jobs.html

Table 1.1.1. Percent Change From Preceding Period in Real Gross Domestic Product

[Percent] Seasonally adjusted at annual rates

Last Revised on: January 30, 2013 – Next Release Date February 28, 2013

Line 2010 2011 2012
I II III IV I II III IV I II III IV
1 Gross domestic product 2.3 2.2 2.6 2.4 0.1 2.5 1.3 4.1 2.0 1.3 3.1 -0.1
2 Personal consumption expenditures 2.5 2.6 2.5 4.1 3.1 1.0 1.7 2.0 2.4 1.5 1.6 2.2
3 Goods 5.2 3.3 3.8 7.9 5.4 -1.0 1.4 5.4 4.7 0.3 3.6 4.6
4 Durable goods 5.5 10.5 7.2 15.2 7.3 -2.3 5.4 13.9 11.5 -0.2 8.9 13.9
5 Nondurable goods 5.1 0.1 2.2 4.5 4.6 -0.3 -0.4 1.8 1.6 0.6 1.2 0.4
6 Services 1.2 2.3 1.9 2.3 2.0 1.9 1.8 0.3 1.3 2.1 0.6 0.9
7 Gross private domestic investment 19.8 14.6 16.4 -5.9 -5.3 12.5 5.9 33.9 6.1 0.7 6.6 -0.6
8 Fixed investment -0.9 14.5 -1.0 7.6 -1.3 12.4 15.5 10.0 9.8 4.5 0.9 9.7
9 Nonresidential 2.1 12.3 7.7 9.2 -1.3 14.5 19.0 9.5 7.5 3.6 -1.8 8.4
10 Structures -23.0 13.1 -2.2 9.3 -28.2 35.2 20.7 11.5 12.9 0.6 0.0 -1.1
11 Equipment and software 14.7 12.0 11.9 9.2 11.1 7.8 18.3 8.8 5.4 4.8 -2.6 12.4
12 Residential -11.4 23.1 -28.6 1.5 -1.4 4.1 1.4 12.1 20.5 8.5 13.5 15.3
13 Change in private inventories
14 Net exports of goods and services
15 Exports 5.9 9.6 9.7 10.0 5.7 4.1 6.1 1.4 4.4 5.3 1.9 -5.7
16 Goods 9.9 11.9 9.0 11.2 5.7 3.7 6.2 6.0 4.0 7.0 1.1 -7.9
17 Services -2.2 4.5 11.1 7.4 5.8 5.1 6.1 -8.8 5.2 1.1 4.0 -0.1
18 Imports 10.4 20.2 13.9 0.0 4.3 0.1 4.7 4.9 3.1 2.8 -0.6 -3.2
19 Goods 12.2 24.7 14.1 1.1 5.2 -0.7 2.9 6.3 2.0 2.9 -1.2 -2.7
20 Services 2.4 1.2 12.9 -5.0 -0.6 4.2 13.8 -1.7 9.0 2.3 2.6 -5.4
21 Government consumption expenditures and gross investment -3.1 2.8 -0.3 -4.4 -7.0 -0.8 -2.9 -2.2 -3.0 -0.7 3.9 -6.6
22 Federal 0.6 9.7 3.7 -4.1 -10.3 2.8 -4.3 -4.4 -4.2 -0.2 9.5 -15.0
23 National defense -3.7 7.3 7.2 -6.1 -14.3 8.3 2.6 -10.6 -7.1 -0.2 12.9 -22.2
24 Nondefense 10.1 14.6 -3.1 0.0 -1.7 -7.5 -17.4 10.2 1.8 -0.4 3.0 1.4
25 State and local -5.5 -1.4 -2.9 -4.6 -4.7 -3.2 -2.0 -0.7 -2.2 -1.0 0.3 -0.7
Addendum:
26 Gross domestic product, current dollars 3.9 4.1 4.6 4.5 2.2 5.2 4.3 4.2 4.2 2.8 5.9 0.5

Peter Schiff on Negative 4th QTR GDP “The Temporary Euphoria Of The Stimulus

Marc Faber ‘Correction is Overdue’

GDP Drops -0.1% In 4th Quarter – State Of The Economy – America In Crisis!

Surprise Q4 fall in US GDP

Rick Santelli Reacts To Negative Fourth Quarter GDP Growth: ‘We Have Become

The Economy Shrank 0.1% Last Quarter – That’s Not Good IMO – John D. Villarreal

Carney: GDP report not “good news” 

US GDP drop dents FTSE’s good form–  IG’s Afternoon Market Headlines 30.01.13

 

US economy shrinks for first time since 2009. 

John Williams: We’re Going to be in a New Recession in 2013 

Marc Faber. – US Economy 100% Chance of Another Recession

Recession Risks: UK heads for triple-dip as GDP shrinks

Background Articles and Videos

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, JANUARY 30, 2013

BEA 13-02

* See the navigation bar at the right side of the news release text for links to data tables, contact personnel and their telephone numbers, and supplementary materials.

<!—-><!—-><!—->

Lisa S. Mataloni: (202) 606-5304 (GDP) gdpniwd@bea.gov
Andrew Hodge: (202) 606-5564 (Profits) cpniwd@bea.gov
Recorded message: (202) 606-5306
Brent Moulton: (202) 606-9606 (Annual Revision)
Bob Kornfeld: (202) 606-9285
Ralph Stewart: (202) 606-2649 (News Media)
Jeannine Aversa: (202) 606-2649 (News Media)
National Income and Product Accounts Gross Domestic Product, 4th quarter and annual 2012 (advance estimate)
      Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- decreased at an annual rate of 0.1 percent in the fourth quarter of 2012
(that is, from the third quarter to the fourth quarter), according to the "advance" estimate released by the
Bureau of Economic Analysis.  In the third quarter, real GDP increased 3.1 percent.

      The Bureau emphasized that the fourth-quarter advance estimate released today is based on
source data that are incomplete or subject to further revision by the source agency (see the box on page 4
and the "Comparisons of Revisions to GDP" on page 5).  The "second" estimate for the fourth quarter,
based on more complete data, will be released on February 28, 2013.

      The decrease in real GDP in the fourth quarter primarily reflected negative contributions from
private inventory investment, federal government spending, and exports that were partly offset by
positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment,
and residential fixed investment.  Imports, which are a subtraction in the calculation of GDP, decreased.

	The downturn in real GDP in the fourth quarter primarily reflected downturns in private
inventory investment, in federal government spending, in exports, and in state and local government
spending that were partly offset by an upturn in nonresidential fixed investment, a larger decrease in
imports, and an acceleration in PCE.

      Final sales of computers added 0.15 percentage point to the fourth-quarter change in real GDP
after adding 0.11 percentage point to the third-quarter change.  Motor vehicle output added 0.04
percentage point to the fourth-quarter change in real GDP after subtracting 0.25 percentage point from
the third-quarter change.

_____________
      FOOTNOTE.  Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified.  Quarter-to-quarter dollar changes are differences between these published estimates.  Percent
changes are calculated from unrounded data and are annualized.  "Real" estimates are in chained (2005)
dollars.  Price indexes are chain-type measures.

      This news release is available on www.bea.gov along with the Technical Notes and Highlights
related to this release.
_____________

      The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 1.3 percent in the fourth quarter, compared with an increase of 1.4 percent in the third.
Excluding food and energy prices, the price index for gross domestic purchases increased 1.1 percent in
the fourth quarter, compared with an increase of 1.2 percent in the third.

      Real personal consumption expenditures increased 2.2 percent in the fourth quarter, compared
with an increase of 1.6 percent in the third.  Durable goods increased 13.9 percent, compared with an
increase of 8.9 percent.  Nondurable goods increased 0.4 percent, compared with an increase of 1.2
percent.  Services increased 0.9 percent, compared with an increase of 0.6 percent.

      Real nonresidential fixed investment increased 8.4 percent in the fourth quarter, in contrast to a
decrease of 1.8 percent in the third.  Nonresidential structures decreased 1.1 percent; it was unchanged
in the third quarter.  Equipment and software increased 12.4 percent in the fourth quarter, in contrast to a
decrease of 2.6 percent in the third.  Real residential fixed investment increased 15.3 percent, compared
with an increase of 13.5 percent.

      Real exports of goods and services decreased 5.7 percent in the fourth quarter, in contrast to an
increase of 1.9 percent in the third.  Real imports of goods and services decreased 3.2 percent, compared
with a decrease of 0.6 percent.

      Real federal government consumption expenditures and gross investment decreased 15.0 percent
in the fourth quarter, in contrast to an increase of 9.5 percent in the third.  National defense decreased
22.2 percent, in contrast to an increase of 12.9 percent.  Nondefense increased 1.4 percent, compared
with an increase of 3.0 percent.  Real state and local government consumption expenditures and gross
investment decreased 0.7 percent, in contrast to an increase of 0.3 percent.

      The change in real private inventories subtracted 1.27 percentage points from the fourth-quarter
change in real GDP after adding 0.73 percentage point to the third-quarter change.  Private businesses
increased inventories $20.0 billion in the fourth quarter, following increases of $60.3 billion in the third
and $41.4 billion in the second.

      Real final sales of domestic product -- GDP less change in private inventories -- increased 1.1
percent in the fourth quarter, compared with an increase of 2.4 percent in the third.

Gross domestic purchases

      Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 0.1 percent in the fourth quarter, compared with an increase of 2.6 percent in the
third.

Disposition of personal income

      Current-dollar personal income increased $256.2 billion (7.9 percent) in the fourth quarter,
compared with an increase of $72.7 billion (2.2 percent) in the third.  The acceleration in personal
income primarily reflected a sharp acceleration in personal dividend income, an upturn in personal
interest income, and an acceleration in wage and salary disbursements.   The sharp acceleration in
personal dividend income reflected accelerated and special dividends that were paid by many companies
in the fourth quarter in anticipation of changes in individual income tax rates.  The upturn in personal
interest income primarily reflected an upturn in interest rates for Treasury Inflation Protected Securities.
The acceleration in wages and salaries reflected the pattern of monthly Bureau of Labor Statistics
employment, hours, and earnings data for the fourth quarter, as well as a judgmental estimate of
accelerated compensation in the form of bonus payments and other irregular pay in the fourth quarter.

      Personal current taxes increased $21.0 billion in the fourth quarter, compared with an increase of
$10.0 billion in the third.

      Disposable personal income increased $235.2 billion (8.1 percent) in the fourth quarter,
compared with an increase of $62.7 billion (2.1 percent) in the third.  Real disposable personal income
increased 6.8 percent, compared with an increase of 0.5 percent.

      Personal outlays increased $95.0 billion (3.3 percent) in the fourth quarter, compared with an
increase of $88.6 billion (3.1 percent) in the third.  Personal saving -- disposable personal income less
personal outlays -- was $570.0 billion in the fourth quarter, compared with $429.8 billion in the third.
The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.7
percent in the fourth quarter, compared with 3.6 percent in the third.  For a comparison of personal
saving in BEA’s national income and product accounts with personal saving in the Federal Reserve
Board’s flow of funds accounts and data on changes in net worth, go to
www.bea.gov/national/nipaweb/Nipa-Frb.asp.

Current-dollar GDP

      Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
0.5 percent, or $18.0 billion, in the fourth quarter to a level of $15,829.0 billion.  In the third quarter,
current-dollar GDP increased 5.9 percent, or $225.4 billion.

2012 GDP

	Real GDP increased 2.2 percent in 2012 (that is, from the 2011 annual level to the 2012 annual
level), compared with an increase of 1.8 percent in 2011.

      The increase in real GDP in 2012 primarily reflected positive contributions from personal
consumption expenditures (PCE), nonresidential fixed investment, exports, residential fixed investment,
and private inventory investment that were partly offset by negative contributions from federal
government spending and from state and local government spending. Imports, which are a subtraction in
the calculation of GDP, increased.

      The acceleration in real GDP in 2012 primarily reflected a deceleration in imports, upturns in
residential fixed investment and in private inventory investment, and smaller decreases in state and local
government spending and in federal government spending that were partly offset by decelerations in
PCE, exports, and nonresidential fixed investment.

      The price index for gross domestic purchases increased 1.7 percent in 2012, compared with an
increase of 2.5 percent in 2011.

      Current-dollar GDP increased 4.0 percent, or $600.3 billion, in 2012, compared with an increase
of 4.0 percent, or $576.8 billion, in 2011.

      During 2012 (that is, measured from the fourth quarter of 2011 to the fourth quarter of 2012) real
GDP increased 1.5 percent.  Real GDP increased 2.0 percent during 2011.  The price index for gross
domestic purchases increased 1.5 percent during 2012, compared with an increase of 2.5 percent during
2011.

______________
      BOX.  Information on the assumptions used for unavailable source data is provided in a technical note
that is posted with the news release on BEA's Web site.  Within a few days after the release, a detailed
"Key Source Data and Assumptions" file is posted on the Web site.  In the middle of each month, an
analysis of the current quarterly estimate of GDP and related series is made available on the Web site;
click on Survey of Current Business, "GDP and the Economy."  For information on revisions, see
"Revisions to GDP, GDI, and Their Major Components."
______________

      BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov. By visiting the
site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.

                                         *          *          *

                           Next release -- February 28, 2013, at 8:30 A.M. EST for:
                        Gross Domestic Product:  Fourth Quarter and Annual 2012 (Second Estimate)

Release Dates in 2013

           		2012: IV and 2012 annual    	2013: I     	2013: II          2013: III

Gross Domestic Product
Advance..........		January 30            	April 26	July 31		  October 30
Second...........		February 28          	May 30          August 29	  November 26
Third............ 		March 28                June 26     	September 26	  December 20

Corporate Profits
Preliminary......		........                May 30          August 29	  November 26
Revised.......... 		March 28                June 26         September 26	  December 20

                                        Comparisons of Revisions to GDP

     Quarterly estimates of GDP are released on the following schedule:  the "advance" estimate, based on
source data that are incomplete or subject to further revision by the source agency, is released near the end of the
first month after the end of the quarter; as more detailed and more comprehensive data become available,
the "second" and "third" estimates are released near the end of the second and third months, respectively.
The "latest"” estimate reflects the results of both annual and comprehensive revisions.

     Annual revisions, which generally cover the quarters of the 3 most recent calendar years, are usually carried
out each summer and incorporate newly available major annual source data.  Comprehensive (or benchmark)
revisions are carried out at about 5-year intervals and incorporate major periodic source data, as well as
improvements in concepts and methods that update the accounts to portray more accurately the evolving U.S.
economy.

The table below shows comparisons of the revisions between quarterly percent changes of current-dollar
and of real GDP for the different vintages of the estimates.  From the advance estimate to the second estimate (one
month later), the average revision to real GDP without regard to sign is 0.5 percentage point, while from the
advance estimate to the third estimate (two months later), it is 0.6 percentage point.  From the advance estimate to
the latest estimate, the average revision without regard to sign is 1.3 percentage points.  The average revision
(with regard to sign) from the advance estimate to the latest estimate is 0.2 percentage point, which is larger
than the average revisions from the advance estimate to the second or to the third estimates.  The larger average
revisions to the latest estimate reflect the fact that comprehensive revisions include major improvements, such as
the incorporation of BEA’s latest benchmark input-output accounts.  The quarterly estimates correctly indicate the
direction of change of real GDP 97 percent of the time, correctly indicate whether GDP is accelerating or
decelerating 72 percent of the time, and correctly indicate whether real GDP growth is above, near, or below trend
growth more than four-fifths of the time.

                           Revisions Between Quarterly Percent Changes of GDP: Vintage Comparisons
                                                     [Annual rates]

       Vintages                                   Average         Average without     Standard deviation of
       compared                                                    regard to sign      revisions without
                                                                                         regard to sign

____________________________________________________Current-dollar GDP_______________________________________________

Advance to second....................               0.2                 0.6                  0.4
Advance to third.....................                .1                  .7                   .4
Second to third......................                .0                  .3                   .2

Advance to latest....................                .3                 1.2                  1.0

________________________________________________________Real GDP_____________________________________________________

Advance to second....................               0.1                 0.5                  0.4
Advance to third.....................                .1                  .6                   .5
Second to third......................                .0                  .2                   .2

Advance to latest....................                .2                 1.3                  1.0

NOTE.  These comparisons are based on the period from 1983 through 2009.

Recovery Shows a Soft Spot

GDP Shrinks 0.1% on Government Cuts, but Consumer, Business Spending Offer Hope

By JOSH  MITCHELL

“…The U.S. economy shrank for the first time in more than three years in the fourth quarter, underscoring the halting nature of the recovery. But the strength of consumer spending and business investment suggested that the economy will grow, albeit slowly, this year.

Gross domestic product—the broadest measure of goods and services churned out by the economy—fell at a 0.1% annual rate in the fourth quarter of 2012, according to the government’s initial estimate out Wednesday.

The details weren’t as discouraging as the headline. The drop, a surprise, was driven by a sharp fall in government spending and by businesses putting fewer goods on warehouse shelves, as well as by a decline in exports. The mainstays of the domestic private economy—housing, consumer spending and business investment in equipment and software—were stronger.

to the economy, even though it expected a return to moderate growth in the months ahead.

The U.S. joined other advanced economies in reporting contractions in the final months of last year. The U.K., Germany, Spain and Belgium have said their economies shrank in the fourth quarter, and several more euro-zone members in coming weeks are expected to report their own declines. Budget cuts appear to be a leading factor driving the contractions in many of those nations.

Deficit cutting in advanced economies is an important reason why global growth is expected to barely improve this year. The International Monetary Fund last week projected global growth of just 3.5% this year, a slight pickup from the estimated 3.2% growth in 2012, due partly to budget tightening in the U.S. and Europe. The International Monetary Fund expects advanced economies to expand just 1.4% this year, compared with 5.5% growth among developing economies.

[image]

Wednesday’s GDP report portrayed an economy stuck in low gear. For 2012, the economy grew 2.2%, up from the 1.8% growth of 2011, but still below the roughly 3% pace notched during healthier times.

For now, the economy is riding largely on the backs of consumers. Consumer spending, adjusted for inflation, increased at a 2.2% rate in the fourth quarter, up from 1.6% in the third. That included a jump in spending on durable goods, which are big-ticket items such as cars and refrigerators.

One thing that is helping consumers: They are starting to see substantial income gains after years of stagnation. The GDP report showed after-tax income rose at a rate of 6.8%, adjusted for inflation, the fastest pace since the recession.

One company benefiting from stronger consumer spending is Nando’s Peri-Peri USA, a closely held chain of chicken restaurants in the Washington, D.C., area. Same-store sales rose roughly 5% in the final months of 2012 compared with a year ago, said Chief Executive Burton Heiss.

Mr. Heiss said he believes consumers are feeling more secure as housing and other parts of the economy improve. Higher home prices, for example, might be giving consumers the confidence to spend more freely on going out. Mr. Heiss added that the strength seems to be continuing: Sales have picked up slightly since the start of the year.

U.S. companies stepped up investment in equipment and software during the quarter, with business investment rising at a rate of 8.4%, the strongest pace in a year. That defied expectations that companies would pull back due to worries over the “fiscal cliff” budget dispute in Washington.

Still, those factors weren’t strong enough to overcome declines in federal spending and exports and slower inventory growth.

The slower inventory investment was the biggest factor behind the contraction. Businesses essentially sold items from warehouse shelves, rather than placing new orders with manufacturers.

That may have been due to inventory accumulating too quickly last summer and some businesses becoming extra cautious about restocking. The upside is that with inventory levels now depleted, many businesses will be forced to replenish, possibly boosting growth in the current quarter.

Meanwhile, government spending, which has been a drag on growth for more than two years, declined for the ninth time in 10 quarters. The biggest cuts came in military spending, which tumbled at a rate of 22.2%, the largest drop since 1972. But state and local spending also fell, dashing hopes of stabilization after a rare increase in the third quarter.

Military analysts said the decline likely was a result of pressure on the Pentagon from a number of areas.

Among them: reductions in spending on the war in Afghanistan as it winds down, a downturn in planned military spending, a constraint placed on the Pentagon budget because the federal government is operating on short-term resolutions that limit spending growth, as well as concern that further cuts may be in the pipeline.

Pentagon officials already have imposed tighter controls on military spending to deal with the challenges.

David Berteau, a former Defense Department official who now heads the International Security Program at the Center for Strategic and International Studies in Washington, said he was surprised by the sharp drop and predicted that persistent uncertainty about the defense budget would continue to be a drag on the national economy.

“Is this a blip in the data or is it a trend?” he said. “I think you’re seeing a trend.”

The effect of defense cuts on the economy in the fourth quarter likely raises the stakes of looming budget fights between the White House and congressional Republicans. The White House said the GDP report showed the need for Congress to avoid “self-inflicted wounds” and reach a deal.

Companies tied to the defense industry already are bracing for cuts.

Noel McCormick, president of McCormick Stevenson, a small engineering firm in Clearwater, Fla., that designs weapons for major defense contractors, said big clients have told him they may resort to layoffs and cut spending if cuts happen.

That would have a “tremendous” impact on McCormick’s 12-person company, he said, likely causing it to cut back as well.

“There is a great deal of angst associated in the coming months,” Mr. McCormick said.

—Sudeep Reddy, Jon Hilsenrath, Ben Casselman and Dion Nissenbaum contributed to this article.

Read Full Post | Make a Comment ( None so far )

America’s Dilemma: Citizenship or Deportation?—President Barack Obama’s Speech On Illegal Immigration in Las Vegas–January 29, 2013–Videos

Posted on January 30, 2013. Filed under: American History, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, history, Immigration, Inflation, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Programming, Quotations, Rants, Raves, Regulations, Resources, Security, Strategy, Taxes, Technology, Unemployment, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , |

Obama-Time-to-fix-immigration

President Obama Las Vegas speech on comprehensive immigration reform on Jan. 29

Credit: http://www.upi.com

reagan

FULL SPEECH – US President Obama Immigration Reform from LAS VEGAS 1/29/2013

1984 – Ronald Reagan on Amnesty

Sessions Warns Washington Elites Against Rush To Amnesty

Amnesty – Not the Solution: Talk Border

Immigration: The real Third Rail of politics on TalkBorder

Talk Border: Safe Borders, Not Racism

Immigration by the Numbers — Off the Charts 

Immigration, World Poverty and Gumballs – Updated 2010

David Meir-Levi on Talk Border 

Martin Sieff on TalkBorder.com

Lou Barletta on Talk Border 

Michael Cutler, INS Special Agent

Charles Faddis, CIA (Ret), speaks with Michael Cutler, INS (Ret) on National Security and more in one part of a three-part interview for The United States of Common Sense, hosted by Charles Faddis..

Michael Cutler, a Fellow at the Center for Immigration Studies, an advisor to the 911 Families for a Secure America, and a consultant, retired in 2002 after a distinguished career with the INS of over 30 years, including 26 as a Special Agent. In 1991, he was promoted to the position of Senior Special Agent and was assigned to the Organized Crime Drug Enforcement Task Force and worked with members of other federal and state law enforcement agencies as well as law enforcement organizations of other countries. The task force’s investigations of aliens involved in major drug trafficking organizations ultimately resulted in the seizure of their assets and prosecutions for a wide variety of criminal violations.

Mr. Cutler has testified as an expert witness at nine Congressional hearings on issues relating to the enforcement of immigration laws having been called by members of both political parties. Mr. Cutler also furnished testimony to the Presidential Commission on the Terrorist Attacks of September 11. Mr. Cutler has appeared on numerous television and radio programs including the OReilly Radio Factor, OReillys No Spin Zone, Fox News and the Lou Dobbs Tonight Program on CNN to discuss the enforcement of immigration laws and has participated in various public debates and panel discussions on issues involving the enforcement and administration of immigration laws. Among the areas of concern that he is able to speak about authoritatively are the nexus between immigration and national security, the impact of immigration on the criminal justice system, strategies to combat illegal immigration, and why amnesty for illegal aliens is wrong.

Roy talks about ICE lawsuit with FNC’s Neil Cavuto

The Dangers of Unlimited Legal & Illegal Immigration

Stop Amnesty for Illegal Immigrants – Expert Reveals the True Cost of Amnesty

Path to illegal citizenship: The high cost of Illegal and legal lImmigration for U.S. Citizens 

Why Oppose the DREAM Act?

 

The E-Verify Solution for Illegal Hiring 

How Many Illegal Aliens Are in the US?  – Walsh – 2

How Many Illegal Aliens Are in the United States? Presentation by James H. Walsh, Associate General Counsel of the former INS – part 2.
Census Bureau estimates of the number of illegals in the U.S. are suspect and may represent significant undercounts.  The studies presented by these authors show that the numbers of illegal aliens in the U.S. could range from 20 to 38 million.

America’s dilemma: citizenship or deportation?

By Raymond Thomas Pronk            

“The definition of insanity is doing the same thing over and over again and expecting different results.” – Albert Einstein

President Barack Obama flew to Las Vegas last week to give a speech at a local school outlining his views and principles for comprehensive immigration reform. “Right now, we have 11 million undocumented immigrants in America; 11 million men and women from all over the world who live their lives in the shadows.  Yes, they broke the rules.  They crossed the border illegally.  Maybe they overstayed their visas.  Those are facts.  Nobody disputes them.  But these 11 million men and women are now here,” Obama said.

Why are there more than 11 million illegal aliens in the United States? Simply, the federal government under both Democratic and Republican progressive presidents has refused to vigorously enforce existing immigration law as set forth in federal statutes and regulations and failed to control and secure U.S. borders against a massive invasion of illegal aliens. These presidents betrayed their oath of office to defend and protect the Constitution.

In a debate with Democratic presidential candidate Walter Mondale in 1984, President Ronald Reagan said, “I believe in the idea of amnesty for those who have put down roots and lived here, even though some time back they may have entered illegally.”

On Nov. 6, 1986, Congress enacted the Immigration Reform and Control Act (IRCA), also known as the Simpson-Mazzoli Act, to reform immigration law and control the number of illegal immigrants entering the country. Reagan signed the bill.

Under this law approximately three million illegal aliens who had continuously resided in the U.S. before Jan.1, 1982 were granted legal status and eventually citizenship — amnesty for illegal aliens.

Since then the federal government has failed to control and secure the borders and by so doing, the 1986 law by granting amnesty created a strong magnet or incentive for future illegal aliens. Both Reagan and the American people were double-crossed by progressive Democrats and Republicans in Congress who really wanted open borders and unlimited illegal immigration.

The American people are asking for immigration law enforcement and secure borders and not Obama’s comprehensive immigration reform with a pathway to citizenship. Americans favor limited controlled legal immigration but oppose open borders with unlimited illegal immigration. So-called “undocumented workers” or more accurately illegal aliens should, as required by federal law, be removed from their place of work and deported to their country of origin.

Why? First, aliens broke into the country illegally when they entered the U.S. without a valid visa or over stayed their visas and did not return to the country of origin. Second, aliens broke the law when they either stole identities of U.S. citizens or purchased fraudulent documents such as driver’s licenses and Social Security cards in order to obtain employment in the U.S. Third, aliens broke the law when they worked in the U.S. without having the legal status to do so. Fourth, many employers broke the law when they knowingly hired illegal aliens. You do not reward criminal behavior by granting a pathway to citizenship. The rule of law requires federal government enforcement of immigration law by deporting illegal aliens.

When you multiple these crimes by millions, you are dealing with a crime wave and mass invasion that has been sanctioned by the progressive ruling elites in Washington D.C. from both the Democratic and Republican parties who favor open borders and token enforcement of existing federal immigration law.

Why did these ruling elites ignore the will of the American people? The Democratic Party favors open borders and a pathway to citizenship or amnesty for illegal aliens because they believe the overwhelming majority of these illegal aliens will, when they become citizens, vote for Democratic candidates.

Progressive Republicans likewise favored open borders and amnesty for illegal aliens because many of the businesses that employ illegal aliens also contribute to the campaigns of Republican candidates.

Both political parties could care less that millions of American citizens are unemployed as a direct result of policies that encouraged massive illegal immigration. Staying in power, not the welfare of the American people, was and is the top priority of these politicians.

The 11 million illegal aliens and their dependents should be given the choice to either voluntarily return to their country of origin by a certain date or face deportation under existing federal immigration law. With over 25 million American citizens seeking permanent full time jobs, this would immediately reduce the number of unemployed citizens by millions.

Most Americans would agree with two of Obama’s principles of comprehensive immigration reform namely “to stay focused on enforcement” and “to bring our legal immigration system into the 21st century.”  However, most Americans would not agree with Obama to first give the 11 million plus illegal aliens a pathway to citizenship or amnesty for illegal aliens before first controlling and securing the borders and enforcing existing immigration law.

There is a saying in Texas, “Fool me once, shame on you, fool me twice, shame on me.”

“You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.” — Abraham Lincoln

Raymond Thomas Pronk is host of the Pronk Pops Show on KDUX web radio from 3-5 p.m. Fridays and author of the companion blog http://www.pronkpops.wordpress.com/

Background Articles and Videos

Opinion: Will Obama Poison Immigration Reform?

Reagan on immingration 2 

Numbers USA – Immigration By the Numbers – Part 1

Numbers USA – Immigration By the Numbers – Part 2 of 2

E-Verify: Employment Verification 

How Many Illegal Aliens Are in the US?  – Walsh – 1 

How Many Illegal Aliens Are in the US?  – Walsh – 2

How Many Illegal Aliens Are in the United States? Presentation by James H. Walsh, Associate General Counsel of the former INS – part 2.

Census Bureau estimates of the number of illegals in the U.S. are suspect and may represent significant undercounts.  The studies presented by these authors show that the numbers of illegal aliens in the U.S. could range from 20 to 38 million.

THE WHITE HOUSE
Office of the Press Secretary
______________________
For Immediate Release                          January 29, 2013
REMARKS BY THE PRESIDENT
ON COMPREHENSIVE IMMIGRATION REFORM
Del Sol High School
Las Vegas, Nevada

11:40 A.M. PST

THE PRESIDENT:  Thank you!  (Applause.)  Thank you!  Thank you so much.  (Applause.)  It is good to be back in Las Vegas!  (Applause.)  And it is good to be among so many good friends.

Let me start off by thanking everybody at Del Sol High School for hosting us.  (Applause.)  Go Dragons!  Let me especially thank your outstanding principal, Lisa Primas.  (Applause.)

There are all kinds of notable guests here, but I just want to mention a few.  First of all, our outstanding Secretary of the Department of Homeland Security, Janet Napolitano, is here.  (Applause.)  Our wonderful Secretary of the Interior, Ken Salazar.  (Applause.)  Former Secretary of Labor, Hilda Solis.  (Applause.)  Two of the outstanding members of the congressional delegation from Nevada, Steve Horsford and Dina Titus.  (Applause.)  Your own mayor, Carolyn Goodman.  (Applause.)

But we also have some mayors that flew in because they know how important the issue we’re going to talk about today is.  Marie Lopez Rogers from Avondale, Arizona.  (Applause.)  Kasim Reed from Atlanta, Georgia.  (Applause.)  Greg Stanton from Phoenix, Arizona.  (Applause.)  And Ashley Swearengin from Fresno, California.  (Applause.)

And all of you are here, as well as some of the top labor leaders in the country.  And we are just so grateful.  Some outstanding business leaders are here as well.  And of course, we’ve got wonderful students here, so I could not be prouder of our students.  (Applause.)

Now, those of you have a seat, feel free to take a seat.  I don’t mind.

AUDIENCE MEMBER:  I love you, Mr. President!

THE PRESIDENT:  I love you back.  (Applause.)

Now, last week, I had the honor of being sworn in for a second term as President of the United States.  (Applause.)  And during my inaugural address, I talked about how making progress on the defining challenges of our time doesn’t require us to settle every debate or ignore every difference that we may have, but it does require us to find common ground and move forward in common purpose.  It requires us to act.

I know that some issues will be harder to lift than others.  Some debates will be more contentious.  That’s to be expected.  But the reason I came here today is because of a challenge where the differences are dwindling; where a broad consensus is emerging; and where a call for action can now be heard coming from all across America.  I’m here today because the time has come for common-sense, comprehensive immigration reform.  (Applause.)  The time is now.  Now is the time.  Now is the time.  Now is the time.

AUDIENCE:  Sí se puede!  Sí se puede!

THE PRESIDENT:  Now is the time.

I’m here because most Americans agree that it’s time to fix a system that’s been broken for way too long.  I’m here because business leaders, faith leaders, labor leaders, law enforcement, and leaders from both parties are coming together to say now is the time to find a better way to welcome the striving, hopeful immigrants who still see America as the land of opportunity.  Now is the time to do this so we can strengthen our economy and strengthen our country’s future.

Think about it — we define ourselves as a nation of immigrants.  That’s who we are — in our bones.  The promise we see in those who come here from every corner of the globe, that’s always been one of our greatest strengths.  It keeps our workforce young.  It keeps our country on the cutting edge.  And it’s helped build the greatest economic engine the world has ever known.

After all, immigrants helped start businesses like Google and Yahoo!.  They created entire new industries that, in turn, created new jobs and new prosperity for our citizens.  In recent years, one in four high-tech startups in America were founded by immigrants.  One in four new small business owners were immigrants, including right here in Nevada — folks who came here seeking opportunity and now want to share that opportunity with other Americans.

But we all know that today, we have an immigration system that’s out of date and badly broken; a system that’s holding us back instead of helping us grow our economy and strengthen our middle class.

Right now, we have 11 million undocumented immigrants in America; 11 million men and women from all over the world who live their lives in the shadows.  Yes, they broke the rules.  They crossed the border illegally.  Maybe they overstayed their visas.  Those are facts.  Nobody disputes them.  But these 11 million men and women are now here.  Many of them have been here for years.  And the overwhelming majority of these individuals aren’t looking for any trouble.  They’re contributing members of the community.  They’re looking out for their families.  They’re looking out for their neighbors.  They’re woven into the fabric of our lives.

Every day, like the rest of us, they go out and try to earn a living.  Often they do that in a shadow economy — a place where employers may offer them less than the minimum wage or make them work overtime without extra pay.  And when that happens, it’s not just bad for them, it’s bad for the entire economy.  Because all the businesses that are trying to do the right thing — that are hiring people legally, paying a decent wage, following the rules — they’re the ones who suffer.   They’ve got to compete against companies that are breaking the rules.  And the wages and working conditions of American workers are threatened, too.

So if we’re truly committed to strengthening our middle class and providing more ladders of opportunity to those who are willing to work hard to make it into the middle class, we’ve got to fix the system.

We have to make sure that every business and every worker in America is playing by the same set of rules.  We have to bring this shadow economy into the light so that everybody is held accountable — businesses for who they hire, and immigrants for getting on the right side of the law.  That’s common sense.  And that’s why we need comprehensive immigration reform.  (Applause.)

There’s another economic reason why we need reform.  It’s not just about the folks who come here illegally and have the effect they have on our economy.  It’s also about the folks who try to come here legally but have a hard time doing so, and the effect that has on our economy.

Right now, there are brilliant students from all over the world sitting in classrooms at our top universities.  They’re earning degrees in the fields of the future, like engineering and computer science.  But once they finish school, once they earn that diploma, there’s a good chance they’ll have to leave our country.  Think about that.

Intel was started with the help of an immigrant who studied here and then stayed here.  Instagram was started with the help of an immigrant who studied here and then stayed here.  Right now in one of those classrooms, there’s a student wrestling with how to turn their big idea — their Intel or Instagram — into a big business.  We’re giving them all the skills they need to figure that out, but then we’re going to turn around and tell them to start that business and create those jobs in China or India or Mexico or someplace else?  That’s not how you grow new industries in America.  That’s how you give new industries to our competitors.   That’s why we need comprehensive immigration reform.  (Applause.)

Now, during my first term, we took steps to try and patch up some of the worst cracks in the system.

First, we strengthened security at the borders so that we could finally stem the tide of illegal immigrants.  We put more boots on the ground on the southern border than at any time in our history.  And today, illegal crossings are down nearly 80 percent from their peak in 2000.  (Applause.)

Second, we focused our enforcement efforts on criminals who are here illegally and who endanger our communities.  And today, deportations of criminals is at its highest level ever.  (Applause.)

And third, we took up the cause of the DREAMers — (applause) — the young people who were brought to this country as children, young people who have grown up here, built their lives here, have futures here.  We said that if you’re able to meet some basic criteria like pursuing an education, then we’ll consider offering you the chance to come out of the shadows so that you can live here and work here legally, so that you can finally have the dignity of knowing you belong.

But because this change isn’t permanent, we need Congress to act — and not just on the DREAM Act.  We need Congress to act on a comprehensive approach that finally deals with the 11 million undocumented immigrants who are in the country right now.  That’s what we need.  (Applause.)

Now, the good news is that for the first time in many years, Republicans and Democrats seem ready to tackle this problem together.  (Applause.)  Members of both parties, in both chambers, are actively working on a solution.  Yesterday, a bipartisan group of senators announced their principles for comprehensive immigration reform, which are very much in line with the principles I’ve proposed and campaigned on for the last few years.  So at this moment, it looks like there’s a genuine desire to get this done soon, and that’s very encouraging.

But this time, action must follow.  (Applause.)  We can’t allow immigration reform to get bogged down in an endless debate.  We’ve been debating this a very long time.  So it’s not as if we don’t know technically what needs to get done.  As a consequence, to help move this process along, today I’m laying out my ideas for immigration reform.  And my hope is that this provides some key markers to members of Congress as they craft a bill, because the ideas I’m proposing have traditionally been supported by both Democrats like Ted Kennedy and Republicans like President George W. Bush.  You don’t get that matchup very often.  (Laughter.)  So we know where the consensus should be.

Now, of course, there will be rigorous debate about many of the details, and every stakeholder should engage in real give and take in the process.  But it’s important for us to recognize that the foundation for bipartisan action is already in place.  And if Congress is unable to move forward in a timely fashion, I will send up a bill based on my proposal and insist that they vote on it right away.  (Applause.)

So the principles are pretty straightforward.  There are a lot of details behind it.  We’re going to hand out a bunch of paper so that everybody will know exactly what we’re talking about.  But the principles are pretty straightforward.

First, I believe we need to stay focused on enforcement.  That means continuing to strengthen security at our borders.  It means cracking down more forcefully on businesses that knowingly hire undocumented workers.  To be fair, most businesses want to do the right thing, but a lot of them have a hard time figuring out who’s here legally, who’s not.  So we need to implement a national system that allows businesses to quickly and accurately verify someone’s employment status.  And if they still knowingly hire undocumented workers, then we need to ramp up the penalties.

Second, we have to deal with the 11 million individuals who are here illegally.  We all agree that these men and women should have to earn their way to citizenship.  But for comprehensive immigration reform to work, it must be clear from the outset that there is a pathway to citizenship.  (Applause.)

We’ve got to lay out a path — a process that includes passing a background check, paying taxes, paying a penalty, learning English, and then going to the back of the line, behind all the folks who are trying to come here legally.  That’s only fair, right?  (Applause.)

So that means it won’t be a quick process but it will be a fair process.  And it will lift these individuals out of the shadows and give them a chance to earn their way to a green card and eventually to citizenship.  (Applause.)

And the third principle is we’ve got to bring our legal immigration system into the 21st century because it no longer reflects the realities of our time.  (Applause.)  For example, if you are a citizen, you shouldn’t have to wait years before your family is able to join you in America.  You shouldn’t have to wait years.  (Applause.)

If you’re a foreign student who wants to pursue a career in science or technology, or a foreign entrepreneur who wants to start a business with the backing of American investors, we should help you do that here.  Because if you succeed, you’ll create American businesses and American jobs.  You’ll help us grow our economy.  You’ll help us strengthen our middle class.

So that’s what comprehensive immigration reform looks like:  smarter enforcement; a pathway to earned citizenship; improvements in the legal immigration system so that we continue to be a magnet for the best and the brightest all around the world.  It’s pretty straightforward.

The question now is simple:  Do we have the resolve as a people, as a country, as a government to finally put this issue behind us?  I believe that we do.  I believe that we do.  (Applause.)  I believe we are finally at a moment where comprehensive immigration reform is within our grasp.

But I promise you this:  The closer we get, the more emotional this debate is going to become.  Immigration has always been an issue that enflames passions.  That’s not surprising.  There are few things that are more important to us as a society than who gets to come here and call our country home; who gets the privilege of becoming a citizen of the United States of America.  That’s a big deal.

When we talk about that in the abstract, it’s easy sometimes for the discussion to take on a feeling of “us” versus “them.”  And when that happens, a lot of folks forget that most of “us” used to be “them.”  We forget that.  (Applause.)

It’s really important for us to remember our history.  Unless you’re one of the first Americans, a Native American, you came from someplace else.  Somebody brought you.  (Applause.)

Ken Salazar, he’s of Mexican American descent, but he points that his family has been living where he lives for 400 years, so he didn’t immigrate anywhere.  (Laughter.)

The Irish who left behind a land of famine.  The Germans who fled persecution.  The Scandinavians who arrived eager to pioneer out west.  The Polish.  The Russians.  The Italians.  The Chinese.  The Japanese.  The West Indians.  The huddled masses who came through Ellis Island on one coast and Angel Island on the other.  (Applause.)  All those folks, before they were “us,” they were “them.”

And when each new wave of immigrants arrived, they faced resistance from those who were already here.  They faced hardship.  They faced racism.  They faced ridicule.  But over time, as they went about their daily lives, as they earned a living, as they raised a family, as they built a community, as their kids went to school here, they did their part to build a nation.

They were the Einsteins and the Carnegies.  But they were also the millions of women and men whose names history may not remember, but whose actions helped make us who we are; who built this country hand by hand, brick by brick.  (Applause.)  They all came here knowing that what makes somebody an American is not just blood or birth, but allegiance to our founding principles and the faith in the idea that anyone from anywhere can write the next great chapter of our story.

And that’s still true today.  Just ask Alan Aleman.  Alan is here this afternoon — where is Alan?  He’s around here — there he is right here.  (Applause.)  Alan was born in Mexico.  (Applause.)  He was brought to this country by his parents when he was a child.  Growing up, Alan went to an American school, pledged allegiance to the American flag, felt American in every way — and he was, except for one:  on paper.

In high school, Alan watched his friends come of age — driving around town with their new licenses, earning some extra cash from their summer jobs at the mall.  He knew he couldn’t do those things.  But it didn’t matter that much.  What mattered to Alan was earning an education so that he could live up to his God-given potential.

Last year, when Alan heard the news that we were going to offer a chance for folks like him to emerge from the shadows — even if it’s just for two years at a time — he was one of the first to sign up.  And a few months ago he was one of the first people in Nevada to get approved.  (Applause.)  In that moment, Alan said, “I felt the fear vanish.  I felt accepted.”

So today, Alan is in his second year at the College of Southern Nevada.  (Applause.)  Alan is studying to become a doctor.  (Applause.)  He hopes to join the Air Force.  He’s working hard every single day to build a better life for himself and his family.  And all he wants is the opportunity to do his part to build a better America.  (Applause.)

So in the coming weeks, as the idea of reform becomes more real and the debate becomes more heated, and there are folks who are trying to pull this thing apart, remember Alan and all those who share the same hopes and the same dreams.  Remember that this is not just a debate about policy.  It’s about people.  It’s about men and women and young people who want nothing more than the chance to earn their way into the American story.

Throughout our history, that has only made our nation stronger.  And it’s how we will make sure that this century is the same as the last:  an American century welcoming of everybody who aspires to do something more, and who is willing to work hard to do it, and is willing to pledge that allegiance to our flag.

Thank you.  God bless you.  And God bless the United States of America.  (Applause.)

END                12:05 P.M. PST

Read Full Post | Make a Comment ( None so far )

Secretary of State Hillary Clinton Grilled Over 4 Deaths and Poor Security in Benghazi and Arms Shipments or Transfers From Libya To Turkey Bound For Syria–Denies There Was Any Shipment–Ask The Central Intelligence Agency–Videos

Posted on January 23, 2013. Filed under: American History, Blogroll, College, Communications, Diasters, Economics, Education, Federal Government, Foreign Policy, government, government spending, history, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Regulations, Resources, Talk Radio, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , , , , |

rand_paul

Hillary Rodham Clinton, Ron Johnson, Jeff Flake, John McCain, John Barrasso, Rand Paul

Benghazi-testimony-Rand-Paul-tells-Hillary-Clinton-I-would-have-relieved-you-of-your-post

Clinton, Biden, Cuomo, Kerry in 2016, What’s the difference?

Dinah Washington: What Difference A Day Makes

O’Reilly on Hillary Benghazi Testimony: If Any Politician Should Be Advertising Teflon, It’s

Chairman Royce on Fox News “Special Report with Bret Baier” on Sec Clinton testimony

012313 – Sen. Rand Paul on the Situation Room with Wolf Blitzer discussing Benghazi h

Explosive: Sen. Rand Paul To Hillary Clinton – I Would Have Fired You

John McCain Confronts Hillary Clinton On Benghazi: Your Answers ‘Are Not

Marco Rubio Grills Hillary Clinton About Benghazi Testimony

GOP Rep.: Clinton let Benghazi consulate “become a death trap”

[HIGHLIGHTS] Hillary Clinton Testifies On Libya Benghazi Attack [FULL]

LATEST NEWS : Clinton on Benghazi: No delays in decision making

Death And Deceit In Benghazi – Did Obama Amind Try Hide The Truth? – W Bret Bair

Glenn Beck Analyzes U.S. Consulate Attack in Benghazi, Libya

Lebanon seizes 150 tons of Libyan arms en route to Syrian rebels

Benghazi-Gate: Connection between CIA and al-Qaeda in Libya and Syria, with Turkey

CNBC: Benghazi is not about Libya! “It’s An NSC Operation Moving Arms & Fighters Into Syria”

SYRIA CRISIS: US ADMITS arms sent to Syria find ISLAMIST EXTREMISTS [WEST FU

Syrian opposition getting ‘daily shipments’ of arms

LATEST NEWS : Clinton on Benghazi: No delays in decision making

Murder Of Chris Stevens In Benghazi Attack Ordered By American Military Leadership

Benghazi Lies

OBAMA CONFRONTED ON BENGHAZI – Stutters Through Response

Top AFRICOM Leader General Carter Ham Was Never Ordered to Save US Men in Ben

President Obama Comments on the Attack in Benghazi, Libya

Michael Scheuer: Mrs Clinton Has Blood on her Hands Everywhere

FMR CIA Chief on ‘Benghazi-Gate’: “The Democrats Are Very Good At Watching People Die”

Benghazi-Gate: Ex-CIA Michael Scheuer “Obama’s Benghazi Cover-up Worse than

Michael Scheuer Slams CNN Host Over Libya: ‘You’re Just Carrying the Water for Mr. Obama

Sen. Rand Paul on Benghazi: ‘Where in the hell were the Marines?’

Clinton Grilled on Benghazi Attacks in Congressional Inquiry

By Paul Stanley

“…An emotional and frustrated Secretary of State Hillary Rodham Clinton traded barbs with legislators on Capitol Hill in her appearances Wednesday before Senate and House committees searching for answers in the attacks in Benghazi, Libya, on Sept. 11, 2012, that killed a U.S. ambassador and three security personnel.

Clinton’s day began first thing on Wednesday morning when she appeared before the Senate Foreign Relations Committee and will end later in the day before the House committee.

“I take responsibility,” Clinton told the Senate Foreign Relations Committee. “Nobody is more committed to getting this right. I am determined to leave the State Department and our country safer, stronger and more secure.”

But soon after making her statement claiming responsibility, Sen. Rob Johnson (R-Wis.) seemed to back Clinton in a corner when he suggested “a simple phone call” to sources in Benghazi might have determined there was no protest at the American Embassy. “Why wasn’t that known?” asked Johnson.

Clinton initially said it was not policy to make inquiries before the FBI investigation was completed, but fired back at the GOP senator when she was pressed on the issue. “With all due respect, what difference at this point does it make?” she said. “We have four dead Americans. It’s our job to figure out what happened and make sure it never happens again. People were tying in real time to get to the information.”

She also said the deaths were extremely “personal” to her.

Sen. John McCain (R-Ariz.) also pressed the secretary on why additional security was not in place. He also revealed that he had met with Ambassador Chris Stevens approximately two months before his death and that he expressed “his deep and grave concerns about security in Benghazi.”

Clinton said those concerns never reached her desk.

“I did not see these requests. They did not come to me. I did not approve them. I did not deny,” she said.

However, a review by an independent board concluded that “systemic failures” resulted in the consulate being at risk to attacks and that no organized protest were planned or were in place at the time of the attacks.

Sen. Rand Paul (R-Ky.), the son of former presidential candidate and House member Rep. Ron Paul (R-Texas), further pressed Clinton by criticizing her for not reading the cables requesting more security. “Had I been president and found out you did not read the cables from Benghazi and from Ambassador Stevens, I would have relieved you of your post,” said Paul. “I think it’s inexcusable.”

However, neither members of the House or Senate asked Clinton why the initial attacks were blamed on an amateur video that insulted Islam.

Clinton’s appearance was postponed for several weeks due to her health. She is expected to step down from her post in the coming days and will most likely be replaced by Sen. John Kerry (D-Mass.), and who, like Clinton, ran unsuccessfully for the White House.

Prior to her being appointed as Secretary of State during President Obama’s first term, Clinton served as the first lady when her husband, former President Bill Clinton, served two terms in the White House. She went on to be elected as a U.S. Senator from New York prior to serving as the nation’s top diplomat.

She is also mentioned as a potential 2016 Democratic presidential nominee. …”

Angry Clinton Explodes at Questioning on Libya Protest: ‘We Have Four Dead Americans…What Difference at This Point Does It Make?’

Madeleine Morgenstern

“…Secretary of State Hillary Clinton erupted at Sen. Ron Johnson (R-Wis.) during his questioning Wednesday over whether there were protests in Benghazi, Libya before the deadly assault on the U.S. diplomatic mission.

Johnson was insisting that the American people were “misled” about protests that supposedly occurred over an anti-Islam video, similar to those that had taken place at the U.S. Embassy in Cairo hours earlier on Sept. 11, 2012. It was later determined there had been no protests in Benghazi and the assault was labeled a terrorist attack.

“Do you disagree with me that a simple phone call to those evacuees to determine what happened would have ascertained immediately that there was no protest?” Johnson asked Clinton during the Senate Foreign Relations Committee hearing. “That was a piece of information that could have been easily, easily obtained, within hours if not days.”

“Senator, when you’re in these positions, the last thing you want to do is interfere with any other process going on — ” Clinton started to answer.

” — I realize that’s a good excuse,” Johnson cut in.

“Well, no, it’s the fact,” Clinton said sharply, adding that there are questions being raised “even today” about what precisely happened in Benghazi.

She continued, “Now, we have no doubt they were terrorists, they were militants, they attacked us, they killed our people. But what was going on and why they were doing what they were doing, is still — ”

http://www.theblaze.com/stories/2013/01/23/clinton-explodes-at-gop-senators-libya-questioning-we-have-four-dead-americans-what-difference-at-this-point-does-it-make/

Read Full Post | Make a Comment ( None so far )

Inverted Yield Curves As Predictor of Coming Recession When Fed Compressed Short Term Fed Funds Rate To Near Zero Interest Rate Policy (ZIRP) Since December 16, 2008–Videos

Posted on January 22, 2013. Filed under: American History, Banking, Blogroll, Business, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, history, Language, Law, liberty, Life, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Psychology, Raves, Resources, Taxes, Wealth, Wisdom | Tags: , , , , , , , , |

WSJYieldCurve

Inverted Yield Curve

What is a Yield Curve?

What is a yield curve? – MoneyWeek Investment Tutorials

Yield Curve analysis

Treasury Bond Prices and Yields 

The basics of bonds – MoneyWeek Investment Tutorials 

Bonds basics part two – MoneyWeek Investment Tutorials

Jim Grant: Honey, I Shrunk the Yield Curve!!

Yield Curve and Predicted GDP Growth, December 2012

December 28, 2012

Covering November 24–December 14, 2012

Highlights

December

November

October

3-month Treasury bill rate (percent)

0.07

0.09

0.10

10-year Treasury bond rate (percent)

1.69

1.67

1.79

Yield curve slope (basis points)

162

158

169

Prediction for GDP growth (percent)

0.6

0.6

0.6

Probability of recession in 1 year (percent)

8.6

9.2

8.2

 

Overview of the Latest Yield Curve Figures

Over the past month, the yield curve has gotten slightly steeper, with long rates edging up and short rates edging down. The three-month Treasury bill fell to 0.07 percent (for the week ending December 14) down from November’s 0.09 percent, itself just down from October’s 0.10 percent. The ten-year rate, at 1.69 percent, is up a scant two basis points from November’s 1.67 percent, but still remains a full ten points below October’s 1.79 percent. The slope increased to 162 basis points, up four basis points from November’s 158, but still down from the 169 basis points seen in October.

The steeper slope was not enough to have an appreciable change in projected future growth, however. Projecting forward using past values of the spread and GDP growth suggests that real GDP will grow at about a 0.6 percent rate over the next year, even with both October and November. The strong influence of the recent recession is still leading towards relatively low growth rates. Although the time horizons do not match exactly, the forecast comes in on the more pessimistic side of other predictions but like them, it does show moderate growth for the year.

yield_curve_predicted_GDP_growth

 

The slope change had a bit more impact on the probability of a recession. Using the yield curve to predict whether or not the economy will be in recession in the future, we estimate that the expected chance of the economy being in a recession next December is 8.6 percent, down from November’s 9.2 percent, and up a bit from October’s 8.2 percent. So although our approach is somewhat pessimistic with regard to the level of growth over the next year, it is quite optimistic about the recovery continuing. We’re not sure if that lower chance of a recession counts as a gift from Santa, but we’ll take it.

recession_probability_from_yield_curve

 

The Yield Curve as a Predictor of Economic Growth

The slope of the yield curve—the difference between the yields on short- and long-term maturity bonds—has achieved some notoriety as a simple forecaster of economic growth. The rule of thumb is that an inverted yield curve (short rates above long rates) indicates a recession in about a year, and yield curve inversions have preceded each of the last seven recessions (as defined by the NBER). One of the recessions predicted by the yield curve was the most recent one. The yield curve inverted in August 2006, a bit more than a year before the current recession started in December 2007. There have been two notable false positives: an inversion in late 1966 and a very flat curve in late 1998.

More generally, a flat curve indicates weak growth, and conversely, a steep curve indicates strong growth. One measure of slope, the spread between ten-year Treasury bonds and three-month Treasury bills, bears out this relation, particularly when real GDP growth is lagged a year to line up growth with the spread that predicts it.

yield_curve_spread_real_GDP_growth

 

yield_spread_lagged_real GDP_growth

Predicting GDP Growth

We use past values of the yield spread and GDP growth to project what real GDP will be in the future. We typically calculate and post the prediction for real GDP growth one year forward.

Predicting the Probability of Recession

While we can use the yield curve to predict whether future GDP growth will be above or below average, it does not do so well in predicting an actual number, especially in the case of recessions. Alternatively, we can employ features of the yield curve to predict whether or not the economy will be in a recession at a given point in the future. Typically, we calculate and post the probability of recession one year forward.

Of course, it might not be advisable to take these numbers quite so literally, for two reasons. First, this probability is itself subject to error, as is the case with all statistical estimates. Second, other researchers have postulated that the underlying determinants of the yield spread today are materially different from the determinants that generated yield spreads during prior decades. Differences could arise from changes in international capital flows and inflation expectations, for example. The bottom line is that yield curves contain important information for business cycle analysis, but, like other indicators, should be interpreted with caution. For more detail on these and other issues related to using the yield curve to predict recessions, see the CommentaryDoes the Yield Curve Signal Recession?” Our friends at the Federal Reserve Bank of New York also maintain a website with much useful information on the topic, including their own estimate of recession probabilities.

http://www.clevelandfed.org/research/data/yield_curve/

Read Full Post | Make a Comment ( None so far )

Faber and Schiff on Investments in 2013–Bullish On Gold–Bearish On Bonds–Prices Rising–Inflation–Videos

Posted on January 11, 2013. Filed under: American History, Banking, Blogroll, Business, Communications, Economics, Energy, Federal Government, Federal Government Budget, government, government spending, history, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, Monetary Policy, Money, Natural Gas, Oil, People, Philosophy, Politics, Raves, Resources, Security, Tax Policy, Video, Wealth, Wisdom | Tags: , , , , |

Peter Schiff Interviews Marc Faber On What Will Happen in 2013 – CNBC 1_10_2013

Peter Schiff 2013 – The CPI is nothing but Government Propaganda!

Inflation Propaganda Exposed

he CPI is no longer a tool to accurately measure inflation, but an instrument of propaganda the government uses to hide accelerating inflation from the public and financial markets. Modest CPI increases over the past several years do not reflect an absence of inflation, but a design flaw in the index that fails to fully capture the magnitude of price increases. Central bankers drawing economic conclusions regarding inflation and monetary policy based on this highly flawed data point are making a major policy error.

Note: Prices for the twenty items in our basket rose 44.3% during a ten-year period despite an official rise in the CPI of just 27.5% during the same time frame. But that is using official government numbers to evidence those price increases. However, judging by the inaccuracy of government numbers on other items, such as newspapers and health insurance, the actual rate of increase of the prices of the goods in our basket was likely much higher than what the government claimed!

Peter Schiff 2013 – Big Government is very expensive, if you want it you have to pay for it

Read Full Post | Make a Comment ( None so far )

Schiff on Cliff–Debt Downgrade–$1.5 Trillion Deficit Coming Soon–Videos

Posted on January 3, 2013. Filed under: American History, Banking, Blogroll, Business, College, Communications, Diasters, Economics, Education, Employment, Energy, European History, Federal Government, Federal Government Budget, Fiscal Policy, Food, government, government spending, history, Law, liberty, Life, Links, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Resources, Tax Policy, Taxes, Video, War, Wealth, Wisdom | Tags: , , , , |

peter_schiff

kicking_can_down_the_road

can

Congress Sells America Down the River to Avoid the Fiscal Cliff

greece_can_kicking

Read Full Post | Make a Comment ( None so far )

Excessive Speculation, Intercontinental Exchange and Government Regulation

Posted on December 29, 2012. Filed under: American History, Blogroll, Communications, Demographics, Diasters, Economics, Education, Energy, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Oil, People, Philosophy, Politics, Programming, Rants, Resources, Video, Wisdom | Tags: , , , , , , , , , , , , , , |

ICE_logo

Gas Prices Explained

Mike Masters on Regulating Commodities Speculation

Michael W. Masters (Better Markets & Masters Capital Management)

Court Strikes Down CFTC Regulation to Limit Excessive Speculation

Michael Greenberger on Crude Oil Speculation

5th OPEC International Seminar – Michael Masters

Michael Masters Chairman, Better Markets Inc Michael W Masters is the founder and Managing Member of Masters Capital Management, an investment management firm. He is also a Partner in Masters Capital Nanotechnology, a venture capital fund. Mr Masters, an expert on the topic of commodities speculation and financial reform, has testified before many Congressional committees and government agencies, including the House Energy Subcommittee, the Commodity Futures Trading Commission (CFTC) and the Financial Crisis Inquiry Commission. Recently, he participated in joint SEC-CFTC roundtable discussions on a variety of security-based swaps issues. Speaking out about the far-reaching harmful effects of unregulated commodities speculation and the need for financial reform, Mr Masters has made numerous appearances in media outlets around the world. He has also addressed consumer and corporate groups, and has served as an expert panellist before international and investor groups. He is the founder of Better Markets, a Washington, DC-based non-profit, non-partisan organization established to promote transparency and accountability in the financial markets for the public interest. He was the 2004 winner of the “Open Your Heart” award from Hedge Funds Care and is a 1989 graduate of the University of Tennessee.
The OPEC International Seminar is now regarded as one of the premier events on the world energy calendar, bringing together Ministers from OPEC Member Countries and other oil-producing countries, heads of intergovernmental organizations, chief executives of national and international oil companies, other industry leaders, renowned academics, analysts and media.
The 5th OPEC International Seminar, held in Vienna’s historic Hofburg Palace on 13–14 June 2012, focussing on the theme ‘Petroleum: Fuelling Prosperity, Supporting Sustainability’. The latest in the series of Seminars, which began in 2001, provided fresh impetus to key industry issues and developed existing and new avenues of dialogue and cooperation.

Secret Exemptions Allowed Speculators to Distort Futures Markets

FACTBOX: NYSE enters the ICE Age

Intercontinental Exchange to buy NYSE

IntercontinentalExchange (ICE): Delivering same-day response to regulatory requests

Derivatives still a ticking time bomb! Sept 2011

Jeff Sprecher, Chairman & CEO, IntercontinentalExchange

**MUST SEE** The Real Reason Gas Prices Are High – Best Explanation!

Will CFTC Limit Excessive Speculation?

Gas Prices & Oil Speculation

Oil Market Manipulation, Gas Prices, Energy Exploration, Securities Exchange Commission

How Wall St Speculation Drives Up Gas Prices

Find Out How Gasoline Gets to Your Tank

IntercontinentalExchange, Inc.,

“…IntercontinentalExchange, Inc., known as ICE, is an American financial company that operates Internet-based marketplaces which trade futures and over-the-counter (OTC) energy and commodity contracts as well as derivative financial products. While the company’s original focus was energy products (crude and refined oil, natural gas, power, and emissions), recent acquisitions have expanded its activity into the “soft” commodities (sugar, cotton and coffee), foreign exchange and equity index futures.

In 2011, ICE and NASDAQ OMX Group joined forces to bid against Deutsche Börse after the latter announced a $9.5 billion deal to merge with NYSE Euronext. The two U.S. bidders and then the German exchange ultimately withdrew after their bids encountered regulatory antitrust resistance. In December 2012 NYSE Euronext agreed to be acquired by ICE pending regulator approval.

ICE is organized into three business lines:

  • ICE Markets — futures, options, and OTC markets. Energy futures are traded via ICE Futures Europe; soft commodity futures/options are handled by ICE Futures U.S.
  • ICE Services — electronic trade confirmations and education.
  • ICE Data — electronic delivery of market data, including real-time trades, historical prices and daily indices.

Contracts sold through ICE Futures U.S. are processed through a subsidiary, ICE Clear U.S. (ICEUS). In May 2008, ICE launched its own Clearing House, ICE Clear, with divisions for Europe, US, Canada & Trust (ICEU).[2]

Headquartered in Atlanta, ICE also has offices in Calgary, Chicago, Houston, London, New York and Singapore, with regional telecommunications hubs in Chicago, New York, London and Singapore.

History

In the late 1990s, Jeffrey Sprecher, ICE’s founder, chairman, and Chief Executive Officer, acquired Continental Power Exchange, Inc. with the objective of developing an Internet-based platform to provide a more transparent and efficient market structure for OTC energy commodity trading. In May 2000, IntercontinentalExchange (ICE) was established, with its founding shareholders representing some of the world’s largest energy traders. The company’s stated mission was to transform OTC trading by providing an open, accessible, multi-dealer, around-the-clock electronic energy exchange. The new exchange offered the trading community better price transparency, more efficiency, greater liquidity and lower costs than manual trading.

In June 2001, ICE expanded its business into futures trading by acquiring the International Petroleum Exchange (IPE), now ICE Futures Europe, which operated Europe’s leading open-outcry energy futures exchange. Since 2003, ICE has partnered with the Chicago Climate Exchange (CCX) to host its electronic marketplaces. In April 2005, the entire ICE portfolio of energy futures became fully electronic. In April 2010 ICE bought CCX’s owner Climate Exchange PLC for 395 million pounds ($622 million). Climate Exchange PLC also owns the European Climate Exchange (ECX).[3]

ICE became a publicly traded company on November 16, 2005, and was added to the Russell 1000 Index on June 30, 2006. The company expanded rapidly in 2007, acquiring the New York Board of Trade (NYBOT),[4] ChemConnect (a chemical commodity market), and the Winnipeg Commodity Exchange. In March 2007 ICE made an unsuccessful $9.9 billion bid for the Chicago Board of Trade, which was instead acquired by the Chicago Mercantile Exchange.[5]

In January 2008, ICE partnered with TSX Group’s Natural Gas Exchange, expanding their offering to clearing and settlement services for physical OTC natural gas contracts.[6]

NYSE Euronext

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Borse, speculation developed that ICE and Nasdaq could mount a counter-bid of their own for NYSE Euronext. ICE was thought to be looking to acquire the American exchange’s derivatives business, Nasdaq its cash equities business. As of the time of the speculation, “NYSE Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion.”[7] Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Merc (CME) to join in what would be probably be an $11-12 billion counterbid for NYSE.[8] On April 1, ICE and Nasdaq made an $11.3 billion offer which was rejected April 10 by NYSE. Another week later, ICE and Nasdaq sweetened their offer, including a $.17 increase per share to $42.67 and a $350 million breakup fee if the deal were to encounter regulatory trouble. The two said the offer was a $2 billion (21%) premium over the Deutsche offer and that they had fully committed financing of $3.8 billion from lenders to finance the deal.[9] The Justice Department, also in April, “initiated an antitrust review of the proposal, which would have brought nearly all U.S. stock listings under a merged Nasdaq-NYSE.” In May, saying it “became clear that we would not be successful in securing regulatory approval,” the Nasdaq and ICE withdrew their bid.[10] The European Commission then blocked the Deutsche merger on 1 February 2012, citing the fact that the merged company would have a near monopoly.[11][12]

In December 2012, ICE announced it would buy NYSE Euronext for $8 billion, pending regulatory approval. Jeffrey Sprecher will retain his position as Chairman and CEO.[13] The boards of directors of both ICE and NYSE Euronext approved the acquisition.[14]

 Key subsidiaries subject to regulation

 ICE Clear Credit LLC

  • see main article ICE Clear Credit LLC
  • Clearing entity for credit default swaps (CDS)
  • Regulated by
    • CFTC – Derivatives Clearing Organization
    • SEC – Registered Securities Clearing Agency

ICE Clear Europe Limited

  • Clearing entity for credit default swaps (CDS)
  • CFTC – Derivatives Clearing Organization
  • Regulated by
    • SEC – Registered Securities Clearing Agency
    • U.K. Financial Services Authority (FSA) – Recognised Clearing House
    • U.K Financial Services Authority (FSA) – Settlement Finality Designation (SFD) under the Financial Markets and Insolvency Regulations 1999
    • Bank of England (U.K.s central bank) – regulated as an Inter-Bank Payment System (Banking Act 2009)

ICE Futures U.S., Inc.

  • Trades futures and options in three main areas
    • Agricultural – e.g. Sugar No. 11, Cotton No. 2
    • Currency – e.g. U.S. Dollar Index, more than 50 currency pairs
    • Equity index – e.g. Russell Indexes
  • Regulated by
    • CFTC – Exchange

ICE Clear U.S., Inc.

  • Clears products traded on ICE Futures U.S., Inc.
  • Regulated by
    • CFTC – Exchange

Commodities traded on the exchange

  • Coal
  • Crude and Refined products
  • Emissions
  • Natural Gas
  • Power
  • Cocoa
  • Coffee C
  • Cotton No. 2
  • FCOJ A
  • Orange juice concentrate
  • Sugar No. 11
  • Russell Indices
  • US Dollar Index
  • Iron Ore Swaps

http://en.wikipedia.org/wiki/IntercontinentalExchange

Read Full Post | Make a Comment ( None so far )

National Rifle Association Recommends Armed Police Officers At Schools–Common Sense Response–Video School Shooting Games and SSRI Antidepressant Drugs–Videos

Posted on December 21, 2012. Filed under: Blogroll, Communications, Economics, Education, Federal Government Budget, government, government spending, High School, Law, liberty, Life, Links, media, People, Philosophy, Pistols, Politics, Psychology, Rants, Raves, Regulations, Resources, Rifles, Taxes, Technology, Video, Weapons, Wisdom | Tags: , , , , , , , , , , , , |

 

National Rifle Association Holds News Conference In Wake Of Newtown School Shooting

NRA Press Confrence: Wayne LaPierre Calls For Armed Police Officers in every school

NRA Calls for Armed Police Officer in Schools

N.R.A. Press Conference: Group Calls for Armed Guards in Schools

RE: ‘NRA killing our kids!’: Video of protesters disrupting NRA’s LaPierre speech

SSRI Drugs are Dangerous!

Correlation Between Prescription Drugs, Children, Violence

Dangerous Side Effects of Antidepressants

 

Easily Accessible School Shooting Games

Lets Play School Shooter 2011 GOTY

School Shooter: North American Tour 2012 – Gameplay Video #2

THE SAVAGE NATION (HOUR 1) 12-14-2012 [Shooting in Newtown, Connecticut]

Chris Greene “SSRI Drugs are responsible for School Massacre”

Read Full Post | Make a Comment ( None so far )

R. Christopher Whalen: Inflated: How Money and Debt Built the American Dream–Videos

Posted on December 10, 2012. Filed under: Banking, Blogroll, Business, Communications, Demographics, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, history, History of Economic Thought, Homes, Immigration, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Philosophy, Politics, Public Sector, Rants, Raves, Regulations, Resources, Tax Policy, Technology, Unions, Weather, Wisdom | Tags: , , , , , , , |

Inflated_How_Money_and_Debt_Built_The American_Dream

r_Christopher_Whalen

“Whalen is smart. He’s one of the few worthy of your time. Others: Marc Faber, Hugh Hendry, Doug Dachille, David Rosenberg, Howard Davidowitz, James Grant, Peter Schiff, Niall Ferguson, Doug Casey, Jim Rogers.”

Chris Whalen Drops the F-Bomb on Wall Street while sounding the Bankruptcy Alarm

Whalen: Libor Is A Collusive Price Set By Collusive Banks

Whalen: Go Back To The Future To Fight Fraud With Equity Receivers

Value Investing Conference 2010 – Part 4

Inflated: How Money and Debt Built the American Dream | Christopher Whalen

‘Inflated: How Money and Debt Built the American Dream’

Chris Whalen: “The Fed let the real economy go to hell”

Web Extra Chris Whalen: Is JP Morgan blowing hot air with clawbacks? Plus, Natural Gas forecasts

CHRIS WHALEN: “PAPER ASSETS ARE HEADED TO ZERO” 7-6-2010

Christopher Whalen, A New Deal For The American Economy 1/7

Christopher Whalen, A New Deal For The American Economy 2/7

Christopher Whalen, A New Deal For The American Economy 3/7

Christopher Whalen, A New Deal For The American Economy 4/7

Christopher Whalen, A New Deal For The American Economy 5/7

Christopher Whalen, A New Deal For The American Economy 6/7

Christopher Whalen, A New Deal For The American Economy 7/7

Read Full Post | Make a Comment ( None so far )

Tea Party Conservatives–What We Believe–Videos

Posted on December 8, 2012. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Culture, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, History of Economic Thought, Homes, Immigration, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Psychology, Radio, Rants, Raves, Regulations, Resources, Science, Security, Strategy, Talk Radio, Tax Policy, Taxes, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , |

bill-whittles-firewall

What We Believe, Part 1: Small Government and Free Enterprise.

What We Believe, Part 2: The Problem with Elitism

What We Believe, Part 3: Wealth Creation

What We Believe, Part 4: Natural Law

What We Believe, Part 5: Gun Rights

What We Believe, Part 6: Immigration

What We Believe, Part 7: American Exceptionalism

Read Full Post | Make a Comment ( None so far )

How Did U-3 Official Unemployment Rate Decline from 7.9% to 7.7% In November When 600,000 New Jobs Are Needed To Reduce Unemployment Rate By .2% and Only 146,000 Jobs Were Created–542,000 Americans Left The Labor Force In November!–Videos

Posted on December 7, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Raves, Regulations, Resources, Security, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Wisdom |

sgs-emp

CNBC Squawk Box: Unemployment Rate Slides to 7.7%

Fmr. Obama Economist Jared Bernstein: Unemployment Drop Due To Labor Force

U.S. Adds 146,000 Jobs; Jobless Rate Falls to 7.7% 

Rick Santelli Epic Rant on November Jobs Report & Soak The Rich: They Love to Fib About Statistics

 

The Unemployment Game Show: Are You *Really* Unemployed? from Mint.com

U.S. Unadjusted Unemployment Shoots Back Up

Unemployment situation best for college grads, whites, men, and older workers

U.S. unemployment, as measured by Gallup without seasonal adjustment, was 7.8% for the month of November, up significantly from 7.0% for October. Gallup’s seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October’s rate.

gallup_unemployment_rate

Although the increase in the unadjusted rate in November is a sharp contrast to the 0.9-point decline seen in October, November’s 7.8% rate is still tied for the second-best unadjusted unemployment monthly reading of 2012. However, on an adjusted basis, November’s rate is the highest reading in six months. Looking at year-to-year comparisons, seasonally adjusted unemployment is down from 8.9% in November 2011.

Underemployment, as measured without seasonal adjustment, was 17.2% in November, a 1.3-point increase since the end of October. The uptick in November also puts an end to the six-month trend of improvements or no change. Still, underemployment has improved 0.9 points since November 2011.

Gallup’s U.S. underemployment measure combines the percentage who are unemployed with the percentage of those working part time but looking for full-time work. Gallup does not apply a seasonal adjustment to underemployment.

Gallup_Underemployment_Rate

http://www.gallup.com/poll/159104/unadjusted-unemployment-shoots-back.aspx

US Unemployment Rate Dropped in December 2012 – What’s the Good and the

Employment Situation Summary Table A. Household data, seasonally adjusted

Household Data Summary Table A. Household Data, Seasonally adjusted

[Numbers in thousands]

Category Nov. 2011 Sept. 2012 Oct. 2012 Nov. 2012 Change from: Oct. 2012- Nov. 2012
Employment status
Civilian noninstitutional population 240,441 243,772 243,983 244,174 191
Civilian labor force 153,937 155,063 155,641 155,291 -350
Participation rate 64.0 63.6 63.8 63.6 -0.2
Employed 140,614 142,974 143,384 143,262 -122
Employment-population ratio 58.5 58.7 58.8 58.7 -0.1
Unemployed 13,323 12,088 12,258 12,029 -229
Unemployment rate 8.7 7.8 7.9 7.7 -0.2
Not in labor force 86,503 88,710 88,341 88,883 542

http://bls.gov/news.release/empsit.a.htm

ESTABLISHMENT DATA Summary table B. Establishment data, seasonally adjusted
Category Nov. 2011 Sept. 2012 Oct. 2012(p) Nov. 2012(p)
EMPLOYMENT BY SELECTED INDUSTRY (Over-the-month change, in thousands)
Total nonfarm 157 132 138 146
Total private 178 122 189 147
Goods-producing 8 -17 18 -22
Mining and logging 4 0 -7 5
Construction 1 -1 15 -20
Manufacturing 3 -16 10 -7
Durable goods(1) 14 -14 7 11
Motor vehicles and parts 1.4 -1.4 -2.5 9.7
Nondurable goods -11 -2 3 -18
Private service-providing(1) 170 139 171 169
Wholesale trade 6.9 -0.5 8.0 13.1
Retail trade 33.8 36.6 50.9 52.6
Transportation and warehousing 9.9 3.7 9.2 3.5
Information -2 -8 -5 12
Financial activities 11 14 5 1
Professional and business services(1) 39 8 55 43
Temporary help services 19.7 -10.0 13.9 18.0
Education and health services(1) 20 45 24 18
Health care and social assistance 6.2 37.3 38.2 22.0
Leisure and hospitality 42 28 20 23
Other services 8 11 5 3
Government -21 10 -51 -1

Employment Level

143,262,000

Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

employment_level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146028(1) 146057 146320 145586 145903 146063 145905 145682 146244 145946 146595 146273
2008 146397(1) 146157 146108 146130 145929 145738 145530 145196 145059 144792 144078 143328
2009 142187(1) 141660 140754 140654 140294 140003 139891 139458 138775 138401 138607 137968
2010 138500(1) 138665 138836 139306 139340 139137 139139 139338 139344 139072 138937 139220
2011 139330(1) 139551 139764 139628 139808 139385 139450 139754 140107 140297 140614 140790
2012 141637(1) 142065 142034 141865 142287 142415 142220 142101 142974 143384 143262
1 : Data affected by changes in population controls.

Civilian Labor Force Level

155,291,000

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Civilian_Labor_Force_Level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154075(1) 153648 153925 153761 154325 154316 154480 154646 154559 154875 154622 154626
2009 154236(1) 154521 154143 154450 154800 154730 154538 154319 153786 153822 153833 153091
2010 153454(1) 153704 153964 154528 154216 153653 153748 154073 153918 153709 154041 153613
2011 153250(1) 153302 153392 153420 153700 153409 153358 153674 154004 154057 153937 153887
2012 154395(1) 154871 154707 154365 155007 155163 155013 154645 155063 155641 155291
1 : Data affected by changes in population controls.

Labor Force Participation Rate

63.6 %

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

civilian_labor_force_participation_rate

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 65.9 66.0 65.8 65.8
2009 65.7 65.8 65.6 65.6 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.1 64.9 64.6 64.6 64.7 64.6 64.4 64.5 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.1 64.0 64.1 64.1 64.1 64.0 64.0
2012 63.7 63.9 63.8 63.6 63.8 63.8 63.7 63.5 63.6 63.8 63.6

Unemployment Level

12,029,000

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Unemployment_Level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7678 7491 7816 7631 8395 8578 8950 9450 9501 10083 10544 11299
2009 12049 12860 13389 13796 14505 14727 14646 14861 15012 15421 15227 15124
2010 14953 15039 15128 15221 14876 14517 14609 14735 14574 14636 15104 14393
2011 13919 13751 13628 13792 13892 14024 13908 13920 13897 13759 13323 13097
2012 12758 12806 12673 12500 12720 12749 12794 12544 12088 12258 12029

Unemployment Rate U-3

7.7%

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

unemployment_Rate

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 8.9 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.8 9.9 9.6 9.4 9.5 9.6 9.5 9.5 9.8 9.4
2011 9.1 9.0 8.9 9.0 9.0 9.1 9.1 9.1 9.0 8.9 8.7 8.5
2012 8.3 8.3 8.2 8.1 8.2 8.2 8.3 8.1 7.8 7.9 7.7

Unemployment Rate U-6

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

U_3_unemployment_rate

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.1 11.8 12.7 13.5
2009 14.2 15.1 15.7 15.8 16.4 16.5 16.5 16.7 16.8 17.2 17.1 17.1
2010 16.7 16.9 16.9 17.0 16.6 16.5 16.5 16.6 16.9 16.8 16.9 16.6
2011 16.1 15.9 15.7 15.9 15.8 16.2 16.1 16.2 16.4 16.0 15.6 15.2
2012 15.1 14.9 14.5 14.5 14.8 14.9 15.0 14.7 14.7 14.6 14.4

U.S. Adds 146,000 Jobs; Jobless Rate Falls to 7.7%

By NELSON D. SCHWARTZ

“…Shaking off the effects of Hurricane Sandy and the looming fiscal impasse in Washington, the economy created 146,000 jobs in November, well above the level economists had been expecting.

The report released Friday by the Labor Department also showed the unemployment rate fell to 7.7 percent, the lowest level in four years. But the drop came largely from a decline in the number of people seeking work and counted as officially unemployed.

Among specific industries, the retail sector was especially healthy, adding 53,000 jobs as the holiday shopping season approached. In the last three months, retail employment has increased by 140,000.

One notable point of weakness was the manufacturing sector, which lost 7,000 jobs in the month. Demand from Europe and other overseas markets has weakened recently, while some manufacturing companies have held off on spending as political leaders square off in Washington over how to cut the deficit.

Highlighting just how vulnerable to shocks the economy remains, one widely followed index of consumer sentiment showed a marked drop in early December. The Thomson Reuters/University of Michigan’s index of consumer confidence, released Friday, fell to 74.5, down from 82.7 in November.

That was the lowest it has been since August – a decline that Bricklin Dwyer, an economist with BNP Paribas, attributed to the showdown in Washington over the budget.

“The deterioration in consumers’ future expectations was probably related to increased concerns relating to the political theater surrounding the ‘fiscal cliff’ negotiations,” he wrote in a report Friday.

The Labor Department revised job growth in previous months downward somewhat. October growth fell to 138,000 from an initial estimate 171,000, and September’s declined to 132,000 from 148,000. Average hourly earnings in November rose 0.2 percent, the report showed.

By the widest measure of joblessness, unemployment also eased slightly: after factoring in people looking for work as well as those forced to take part-time positions because full-time work wasn’t available, the total unemployed fell to 14.4 percent in November from 14.6 percent in October.

The report for November was relatively strong, economists said, and showed fewer effects from Hurricane Sandy that had been expected. In Friday’s announcement, the Bureau of Labor Statistics said the storm did “not substantively impact the national employment and unemployment estimates for November.”

Ethan Harris, co-head of global economics at Bank of America of Merrill Lynch, said, “It’s a pretty solid report. It’s consistent with a slow recovery in the job market.”

“It’s encouraging that with the fiscal cliff looming, the corporate sector seems willing to hire even with the worries about what’s going in Washington,” Mr. Harris said.

If the budget impasse can’t be resolved this month, however, it’s likely that jobs growth will weaken early next year, he added. “The fiscal cliff is a very dangerous game,” he said.

Indeed, other economists remained cautious about the jobs outlook.

“It’s not something to get too excited about,” said Nigel Gault, chief United States economist for IHS Global Insight. “The number is 146,000 and the average so far this year is 151,000. We’re pretty much in line with what we’ve been doing.”

Mr. Gault said Hurricane Sandy’s impact may have been seen in construction, where the number of jobs fell by 20,000, as well as in manufacturing.

The labor participation rate, which represents the proportion of the adult population that is either employed or actively looking for work, remains very low by historical standards.

At 63.6 percent in November, Mr. Gault said, it was just 0.1 percent above the low point for the current economic cycle, which was reached in August 2012.

“We’re not at the point in which the jobs market is strong enough to pull discouraged workers back into the labor market,” he said. …”

http://www.nytimes.com/2012/12/08/business/economy/us-creates-146000-new-jobs-as-unemployment-rate-falls-to-7-7.html?hp&_r=0

Employment Situation Summary

Transmission of material in this release is embargoed                         USDL-12-2366
until 8:30 a.m. (EDT) Friday, December 7, 2012

Technical information:
 Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov

                         THE EMPLOYMENT SITUATION -- NOVEMBER 2012

Total nonfarm payroll employment rose by 146,000 in November, and the unemployment
rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today.
Employment increased in retail trade, professional and business services, and health
care.

  -------------------------------------------------------------------------------------
 |                                                                                     |
 |                                Hurricane Sandy                                      |
 |                                                                                     |
 |Hurricane Sandy made landfall on the Northeast coast on October 29th, causing severe |
 |damage in some states. Nevertheless, our survey response rates in the affected       |
 |states were within normal ranges. Our analysis suggests that Hurricane Sandy did not |
 |substantively impact the national employment and unemployment estimates for November.|
 |BLS will release the regional and state estimates on December 21st. For additional   |
 |information on how severe weather affects employment and unemployment data, see      |
 |Question 8 in the Frequently Asked Questions section of this release.                |
 |                                                                                     |
  ------------------------------------------------------------------------------------- 

Household Survey Data

The unemployment rate edged down to 7.7 percent in November. The number of unemployed
persons, at 12.0 million, changed little. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (7.2 percent), adult
women (7.0 percent), teenagers (23.5 percent), whites (6.8 percent), and Hispanics (10.0
percent) showed little or no change in November. The unemployment rate for blacks (13.2
percent) declined over the month. The jobless rate for Asians was 6.4 percent (not
seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was little
changed at 4.8 million in November. These individuals accounted for 40.1 percent of
the unemployed. (See table A-12.)

The civilian labor force participation rate declined by 0.2 percentage point to 63.6 percent
in November, offsetting an increase of the same amount in October. Total employment was
about unchanged in November, following a combined increase of 1.3 million over the prior
2 months. The employment-population ratio, at 58.7 percent, changed little
in November. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as
involuntary part-time workers), at 8.2 million in November, was little changed over the
month. These individuals were working part time because their hours had been cut back or
because they were unable to find a full-time job. (See table A-8.)

In November, 2.5 million persons were marginally attached to the labor force, essentially
unchanged from a year earlier. (These data are not seasonally adjusted.) These individuals
were not in the labor force, wanted and were available for work, and had looked for a job
sometime in the prior 12 months. They were not counted as unemployed because they had not
searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 979,000 discouraged workers in November, little
changed from a year earlier. (These data are not seasonally adjusted.) Discouraged workers
are persons not currently looking for work because they believe no jobs are available for
them. The remaining 1.5 million persons marginally attached to the labor force in November
had not searched for work in the 4 weeks preceding the survey for reasons such as school
attendance or family responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 146,000 in November. Since the beginning
of this year, employment growth has averaged 151,000 per month, about the same as the 
average monthly job gain of 153,000 in 2011. In November, employment rose in retail
trade, professional and business services, and health care. (See table B-1.)

Retail trade employment rose by 53,000 in November and has increased by 140,000 over the
past 3 months. Over the month, job gains occurred in clothing and clothing accessory stores 
(+33,000), in general merchandise stores (+10,000), and in electronics and appliance stores
(+9,000). Employment in miscellaneous store retailers decreased by 13,000.

In November, employment in professional and business services rose by 43,000. Employment
continued to increase in computer systems design and related services.

Health care employment continued to increase in November (+20,000), with gains in hospitals
(+8,000) and in nursing care facilities (+5,000). Health care has added an average of 26,000
jobs per month this year.

Employment in wholesale trade edged up over the month (+13,000). Since reaching an employment
trough in May 2010, the industry has added 228,000 jobs.

Information employment also edged up in November (+12,000), with the increase concentrated
in motion picture and sound recording (+15,000). On net, information employment has changed
little over the past 12 months.

In November, leisure and hospitality employment continued to trend up (+23,000). Over the
past 12 months, the industry has added 305,000 jobs.

Employment in construction declined by 20,000 in November, with much of the loss occurring
in construction of buildings (-11,000). Since early 2010, employment in construction has
shown no clear trend.

Manufacturing employment changed little over the month. Within the industry, job losses
in food manufacturing (-12,000) and chemicals (-9,000) more than offset gains in motor
vehicles and parts (+10,000) and wood products (+3,000). On net, manufacturing employment
has changed little since this past spring.

Employment in other major industries, including mining and logging, transportation and
warehousing, financial activities, and government, showed little change in November.

The average workweek for all employees on private nonfarm payrolls remained at 34.4
hours in November. The manufacturing workweek edged up by 0.1 hour to 40.6 hours, and
factory overtime was unchanged at 3.2 hours. The average workweek for production and
nonsupervisory employees on private nonfarm payrolls edged up 0.1 hour to 33.7 hours.
(See tables B-2 and B-7.)

In November, average hourly earnings for all employees on private nonfarm payrolls rose
by 4 cents to $23.63. Over the past 12 months, average hourly earnings have risen by
1.7 percent. In November, average hourly earnings of private-sector production and
nonsupervisory employees edged up by 3 cents to $19.84. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for September was revised from +148,000
to +132,000, and the change for October was revised from +171,000 to +138,000.

_____________
The Employment Situation for December is scheduled to be released on Friday,
January 4, 2013, at 8:30 a.m. (EST).

  ----------------------------------------------------------------------------------------
 |                                                                                        |
 |                   Revision of Seasonally Adjusted Household Survey Data                |
 |                                                                                        |
 |In accordance with usual practice, The Employment Situation release for December 2012,  |
 |scheduled for January 4, 2013, will incorporate annual revisions in seasonally adjusted |
 |unemployment and other labor force series from the household survey. Seasonally adjusted|
 |data for the most recent 5 years are subject to revision.                               |
 |                                                                                        |
  ----------------------------------------------------------------------------------------

   ---------------------------------------------------------------------------------------
  |                                                                                       |
  |                         Household Survey Reference Period                             |
  |                                                                                       |
  |In the household survey, the reference period for November 2012 was the calendar week  |
  |that included the 5th of the month. Typically, the reference period for the household  |
  |survey is the calendar week that includes the 12th of the month. In accordance with our|
  |usual practice for November, the reference and survey periods were a week earlier this |
  |year so that household survey interviews would not be conducted during the Thanksgiving|
  |holiday.                                                                               |
  |                                                                                       |
   ---------------------------------------------------------------------------------------
Read Full Post | Make a Comment ( None so far )

Jumping off the fiscal cliff and bouncing back towards peace and prosperity with bungee budgets!–Videos

Posted on December 4, 2012. Filed under: American History, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, People, Philosophy, Politics, Psychology, Public Sector, Raves, Resources, Security, Strategy, Tax Policy, Taxes, Unemployment, Unions, Video, War, Wealth, Weather, Wisdom | Tags: , , , , , , |

bungee_jumping_off_fiscal_cliff

FISCAL CLIFF, OH NOES!!

World’s Tallest Bungee Jump HD (Backwards)

Aussie tourist’s bungee cord snaps

Fiscal Cliff: What Republicans, Democrats Agree on So Far

Dan Mitchell Commenting on Republican Weakness in Fiscal Cliff Negotiations

Grover Norquist: Obama “Thinks Somebody Made Him King”

Peter Schiff: Many Other Cliffs Await the US Economy – CNBC 12/05/2012

“Grover Norquist confident Republicans will abide by no tax pledge” Grover Scares The GOP

Fiscal Cliff solution: Simpson-Bowles?

Fiscal Cliff GOP Plan Offered by John Boehner White House Rejects Plan

Obama – Finally An Aggressive Progressive?!

White House ‘Reluctantly’ Willing to Go Off Fiscal Cliff?

Obama On Rejecting GOP Plan: It’s Just A Matter Of Math’

Sen. Hatch: Obama’s “fiscal cliff” plan a “bait and switch”

Joe Scarborough Hammers Fiscal Cliff Offer: Was It Necessary For Obama ‘To Be So Provocative?’

Charles Krauthammer Fiscal Cliff Analogy: Obama Offer Worse Than Appomattox

Timothy Geithner ‘This Week’ Interview: Fiscal Cliff is in the GOP’s Court

Dr. Coburn on OUTFRONT with Erin Burnett Regarding Speaker Boehner’s Offer and Fiscal Cliff

Fiscal Cliff Hangout – Nov. 30, 2012

The Engineered Fiscal Cliff

Jumping off the fiscal cliff and bouncing back towards peace and prosperity with bungee budgets!

By Raymond Thomas Pronk

The year-end fiscal cliff time bomb of massive tax increases and huge spending cuts is ticking louder and louder.

On Nov. 29, President Barack Obama sent Treasury Secretary Tim Geithner to Congress to present his opening proposal to increase tax revenues by $1.6 trillion over the next 10 years, a possible extension of the temporary Social Security payroll tax cut and increased presidential power to raise the national debt without limit. Obama would support $600 billion in spending cuts including $350 billion from Medicare and other health programs.

However, Obama wants an additional $200 billion in new spending outlays for jobless benefits, aid for struggling homeowners and at least $50 billion for public works infrastructure projects—another stimulus package. In summary, Obama wants four times as much in tax increases as spending cuts.  Obama’s so-called balanced approach offer was dead on arrival in the Republican-controlled House..

House Speaker John Boehner, R-Ohio, and other Republican leaders responded by sending Obama the GOP plan in a Dec. 3 letter that includes $800 billion in higher tax revenues over the next decade. The letter pointed out that Erskine Bowles, co-chair of Obama’s debt commission, recommended a balanced middle ground approach that included significant spending cuts as well as $800 billion in new tax revenue.

However, the GOP plan would keep the Bush marginal tax rates for all brackets, including those for higher income earners in place. The Republican letter pointedly said,

“The new revenue in the Bowles plan would not be achieved through higher tax rates, which we continue to oppose and will not agree to in order to protect small businesses and our economy.”

The Republican plan would also cut over ten years $600 billion from costly health care programs including Medicare, $300 billion from national defense and domestic programs and another $300 billion from other proposals including forcing federal workers to contribute toward their pension plans. The Republican plan would produce an estimated $2.2 trillion in savings over 10 years.

Neither the Democratic nor Republican proposals to avoid the year-end fiscal cliff would balance the budget in the next ten years. The Republicans as much as admitted this in their letter by stating, “This is by no means an adequate long-term solution, as resolving our long-term fiscal crisis will require fundamental entitlement reform. Indeed, the Bowles’ plan is exactly the kind of imperfect but fair middle ground that allows us to avert the fiscal cliff without hurting our economy and destroying jobs.”

The president after reading the Republican proposal letter, rejected the GOP plan out of hand because it did not increase the marginal tax rates on those earning more than $250,000, the majority of whom are successful business owners who create wealth, income and jobs.

The table below summarizes the failed 10 year record of both political parties in controlling government spending that have produced massive fiscal-year deficits and an ever increasing national debt.

Summary of Tax Receipts and Spending Outlays of the

United States Government for Fiscal Years 2002-2012

[in million of dollars]

Fiscal Year Tax Receipts Spending Outlays Deficits (+)  or Surplus (-)

2002

1,853,225 2,011,016 157,791
2003 1,782,108 2,159,246 377,139
2004 1,879,783 2,292,628 412,845
2005 2,153,350 2,472,095 318,746
2006 2,406,675 2,654,873 248,197
2007 2,567,672 2,729,199 161,527
2008 2,523,642 2,978,440 454,798
2009 2,104,358 3,520,082 1,415,724
2010 2,161,728 3,455,931 1,294,204
2011 2,302,495 3,601,109 1,298,614
2012 2,449,093 3,538,446 1,089,353
Source: Department of the Treasury, Final Monthly Treasury Statements of Receipts and Outlays of the United States Government for Fiscal Years 2002-2012, table 1.

Neither the Democratic Party led by President Obama, Senate Majority Leader Harry Reid and House Minority Leader Nancy Pelosi nor the Republican Party led by House Speaker Boehner, House Majority Leader Eric Cantor and Senate Minority Leader Mitch McConnell, are capable of balancing the budget of the U.S. government.

U.S. government budget deficits are financed or paid for by the issuing of debt in the form of Treasury bills, notes or bonds by the Department of the Treasury. The sale of Treasury securities results in an increase in the national debt and an increase in the interest that must be paid by the American people to those who purchase the Treasury securities.

The Federal Reserve, the central bank of the United States, has been artificially suppressing interest rates for more than four years, to near zero rates (.25 percent) for federal funds, money loaned overnight by commercial banks to each other. Once inflation or a rise in the general price level hits the economy, interest rates will quickly rise to market levels. The interest paid by the federal government on its Treasury securities will quickly double and triple to more than $750 billion per year.

Until the U.S. government lives within the means of the American people by balancing its budget, the economy:

(1)   will grow at relatively low rates between 1 and 2 percent per year,

(2)   have persistently high unemployment rates in the 8 to 10 percent range,

(3)   and inflation or price increases will exceed 3 to 6 percent or more per year.

Economists describe such a situation as stagflation, a portmanteau of stagnation and inflation

Forget about the fiscal cliff. Focus on economic growth and job creation. Balance the budget.

A balanced budget is one in which total spending outlays equal total tax receipts. A budget deficit is one in which total spending outlays exceed total tax receipts. A budget surplus is one in which total tax receipts exceed total spending outlays.

Balance the U.S. government’s budget by Sept. 30, 2016, the end of fiscal year 2016, by cutting total government spending $250 billion or about 7 percent per year for four years until the budget is balanced or in surplus.

Federal government spending outlays would be capped at the following fiscal-year levels:

The Bungee Budgets

Balancing The United States Government Budget

By Sept. 30, 2016

Estimated Tax Receipts, Spending Outlays, Deficits, and Surpluses

[in million of dollars]

Fiscal Year Estimated Tax Receipts* Estimated Spending Outlays**  EstimatedDeficits (+)  or Surplus(-)
2013 2,475,000 3,288,000 813,000
2014 2,500,000 3,038,000 538,000
2015 2,525,000 2,788,000 263,000
2016 2,550,000 2,538,000 -12,000
*Estimated tax receipts are based on the current Internal Revenue Code being extended for four years and increasing tax receipts of $25 billion per fiscal year.**Spending outlays are reduced $250 billion from the previous fiscal year.

Extend the so-called Bush marginal tax rates for four years or until the current complex Internal Revenue Code and regulations are replaced by either a single flat income tax or a broad-based national consumption retail sales tax—the FairTax. The proposed bungee budgets for fiscal years 2013-2016 require leaders with courage, vision and wisdom to pass and implement them. The possibility of the above proposal being passed by Congress and signed into law by the president are slim and none.

Today the U.S. has a national debt exceeding $16 trillion and unfunded liabilities for Social Security and Medicare exceeding $63 trillion according to the latest report of the trustees of both programs. The unfunded liability is the amount the government has promised in benefits looking indefinitely into the future less the payroll taxes and premiums the government expects to collect.

The U.S. government’s national debt and unfunded liabilities now exceed $80 trillion or more than five times the total estimated U.S. real gross domestic product for 2012. The U.S. warfare and welfare state has already fallen off the fiscal cliff and is accelerating toward a default on its Treasury debt.

Yet the political theater in Washington, D.C., over the phony fiscal cliff crisis will continue into 2013. The American people deserve the leadership they voted for in November. Now the American people will pay the price as the economy heads toward another recession. The party is over. Happy New Year!

Raymond Thomas Pronk is host of the Pronk Pops Show on KDUX web radio from 3-5 p.m. Fridays and author of the companion blog http://www.pronkpops.wordpress.com.

Read Full Post | Make a Comment ( None so far )

History Repeats Itself on The Fiscal Cliff–House of Representatives Should Extend Bush Tax Rates Another Year–Let Obama Jump Off The Fiscal Cliff–Focus On Growing The Economy By Lowering Tax Rates and Balancing The Budget–Videos

Posted on December 2, 2012. Filed under: American History, Blogroll, Business, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, government spending, Health Care, history, Law, liberty, Links, Macroeconomics, Microeconomics, People, Philosophy, Politics, Raves, Resources, Tax Policy, Video, War, Wisdom | Tags: , , , |

Barack Obama-Taking Us Over a Cliff

Balancing the Budget Without Cutting Spending Would Cause Taxes to Skyrocket

America is running massive deficits, and a balanced budget requirement is often considered a way to rein in red ink.

Without serious entitlement and spending reforms, the level of taxes required to balance the budget would reach economically stagnating levels.

balancing-budget-680

Entitlement Spending Will Nearly Double by 2050

Spending on Medicare, Medicaid, Social Security, and the Obamacare subsidies will soar as 78 million baby boomers retire and health care costs climb.

Total spending on federal health care programs will more than double.

Future generations will be left with an untenable debt burden.

entitlement-spending-double

Tax Revenues Devoured By Medicare, Medicaid, and Social Security in 2045

Spending on Medicare, Medicaid, the Obamacare subsidies, and Social Security will devour all revenues by 2045.

Entitlement spending is already crowding out vital constitutional functions, such as defense.\

entitlements-historical-tax-levels

Robert Welch Accurately Predicted Fall Off Fiscal Cliff in 1974

Peter Schiff 2012 – Stop spending and consuming, start saving and producing! 

What is the Fiscal Cliff? Everything You Need To Know

Pat Buchanan: Republicans Should Stand Their Ground on Tax Hikes

Speaker Boehner: “I’m Determined to Solve Our Debt Problem. We Have a Serious Spending Problem”

Ouch! Geithner Is Busted Lying About Non-Existent War Savings

Timothy Geithner ‘This Week’ Interview: Fiscal Cliff is in the GOP’s Court 

Fiscal Cliff Explained – How Do We Land? Mike Maloney Gold & Silver Inc 

When Will the Real Fiscal Cliff Negotiations Begin?: ‘This Week’ Roundtable Discussion 

Ron Paul on Secession, Romney, Fiscal Cliff, the GOP’s Future and

Constitutional Conservatism or Die

Fiscal Cliff history lesson

Hear a history lesson about the fiscal cliff of 1990 known as the 1990 Budget summit agreement. It resulted in budget surpluses and balanced budgets for our federal government from 1994 until just after the attack of 9/11 of 2001. Elizabeth B. Letchworth is the only women in the United States Senate history to be elected by the Senate to serve as the U.S. Senate Secretary for the Majority for the Republicans. She is now a principal @ Congressional Global Strategy, LLC and owner of GradeGov.com

Related Posts On Pronk Palisades

Forward Off The Fiscal Cliff…Falling…Falling…Splat!–Videos

Read Full Post | Make a Comment ( None so far )

Stephen Moore–Who is the Fairest of Them All?: The Truth About Opportunity, Taxes, and Wealth in America—Videos

Posted on November 29, 2012. Filed under: American History, Books, College, Communications, Culture, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, Homes, Immigration, Inflation, Language, Law, liberty, Life, Links, Macroeconomics, People, Philosophy, Politics, Psychology, Public Sector, Raves, Resources, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , |

The Truth about Tax “Fairness”

Fairest of Them All: Finding Real Economic Justice – CBN.com

An Evening with Stephen Moore

Stephen Moore delivered the keynote address at the 2012 Annual Dinner of the Kansas Policy Institute October 18, 2012. Moore is an economic writer and policy analyst who founded and served as president of the Club for Growth from 1999 to 2004. He is currently a member of the editorial board of the Wall Street Journal, regularly writes for that paper’s opinion page and frequently appears on national broadcast media including CNBC and Fox News.

An Overdue Book

By Thomas Sowell

“…If everyone in America had read Stephen Moore’s new book, “Who’s The Fairest of Them All?”, Barack Obama would have lost the election in a landslide.

        The point here is not to say, “Where was Stephen Moore when we needed him?”  A more apt question might be, “Where was the whole economics profession when we needed them?” Where were the media?  For that matter, where were the Republicans?

        Since “Who’s The Fairest of Them All?” was published in October, there was little chance that it would affect this year’s election.  But this little gem of a book exposes, in plain language and with easily understood facts, the whole house of cards of assumptions, fallacies and falsehoods which constitute the liberal vision of the economy.

        Yet that vision triumphed on election day, thanks to misinformation that was artfully presented and seldom challenged. The title “Who’s The Fairest of Them All?” is an obvious response to liberals’ claim that their policies are aimed at creating “fairness” by, among other things, making sure that “the rich” pay their “fair share” of taxes.  If you want a brief but thorough education on that, just read chapter 4, which by itself is well worth the price of the book.

        A couple of graphs on pages 104 and 108 are enough to annihilate the argument about “tax cuts for the rich.”  These graphs show that, under both Republican President Calvin Coolidge and Democratic President John F. Kennedy, high-income people paid more tax revenues into the federal treasury after tax rates went down than they did before.

        There is nothing mysterious about this. At high tax rates, vast sums of money disappear into tax shelters at home or is shipped overseas. At lower tax rates, that money comes out of hiding and goes into the American economy, creating jobs, rising output and rising incomes.  Under these conditions, higher tax revenues can be collected by the government, even though tax rates are lower. Indeed, high income people not only end up paying more taxes, but a higher share of all taxes, under these conditions.

        This is not just a theory.  It is what hard evidence shows happened under both Democratic and Republican administrations, from the days of Calvin Coolidge to John F. Kennedy to Ronald Reagan and George W. Bush.  That hard evidence is presented in clear and unmistakable terms in “Who’s The Fairest of Us All?”

        Another surprising fact brought out in this book is that the Democrats and Republicans both took positions during the Kennedy administration that were the direct opposite of the positions they take today.  As Stephen Moore points out, “the Republicans almost universally opposed and the Democrats almost universally favored” the cuts in tax rates that President Kennedy proposed.

        Such Republican Senate stalwarts as Barry Goldwater and Bob Dole voted against reducing the top tax rate from 91% to 70%.  Democratic Congressman Wilbur Mills led the charge for lower tax rates.

        Unlike the Republicans today, John F. Kennedy had an answer when critics tried to portray his tax cut proposal as just a “tax cut for the rich.”  President Kennedy argued that it was a tax cut for the economy, that changed incentives meant a faster growing economy and that “A rising tide lifts all boats.”

        If Republicans today cannot seem to come up with their own answer when critics cry out “tax cuts for the rich,” maybe they can just go back and read John F. Kennedy’s answer.

        A truly optimistic person might even hope that media pundits would go back and check out the facts before arguing as if the only way to reduce the deficit is to raise tax rates on “the rich.”

        If they are afraid that they would be stigmatized as conservatives if they favored cuts in tax rates, they might take heart from the fact that not only John F. Kennedy, but even John Maynard Keynes as well, argued that cutting tax rates could increase tax revenues and thereby help reduce the deficit.

        Because so few people bother to check the facts, Barack Obama can get away with statements about how “tax cuts for the rich” have “cost” the government money that now needs to be recouped.  Such statements not only promote class warfare, to Obama’s benefit on election day, they also distract attention from his own runaway spending behind unprecedented trillion dollar deficits. …”

http://townhall.com/columnists/thomassowell/2012/11/28/an_overdue_book/page/full/

WSJ Economist Moore: No Grounds for Obama’s Tax on Wealthy

By Jim Meyers and John Bachman

“…Moore is a senior economics writer and editorial board member for The Wall Street Journal. He is the founder and former president of the Club for Growth and a best-selling author. He also wrote the cover story for Newsmax magazine’s October issue.

Moore’s new book is “Who’s The Fairest of Them All: The Truth about Opportunity, Taxes and Wealth in America.”

In an exclusive interview with Newsmax TV, Moore was asked if Obama and the Democrats are advocating higher taxes on the wealthy to improve the economy or to win over middle-class voters.

“I don’t think anybody thinks that raising tax rates will improve the economy. At least I certainly hope no one does because the history is so unequivocal that that’s not the case,” Moore says.

“In fact, what you want is lower tax rates, not higher tax rates, especially when we’re living in a global economy where United States companies are competing against companies in India and China and Germany and France and all over the world.

“So there’s no case on economic grounds for raising tax rates. President Obama is selling that idea on the grounds of fairness and that’s really the reason I wrote this book, to sort of define what does it really mean to be a fair society.

“What I show in this research is that the fairest  system of them all is the free enterprise system. The free enterprise system is what creates growth, creates jobs and higher living standards for almost all Americans. So it’s hard to improve on that system. President Obama believes that the way to create a fairer system is to redistribute income from the rich to the poor. That’s never worked very well.”

Americans are an “aspirational society” and don’t believe that rich people are evil, Moore adds.

“Most of us aspire to be rich and that’s really the American Dream — to try to work hard, start a business, do the right thing so you can get rich. And America’s still the best country in the world to do that, despite all the obstacles that government tries to create.

“I think President Obama is driven much more by an ideology that says, ‘Redistribute wealth instead of creating.’ It’s almost like the wealth is just automatically there and all we have to do is just cut up that pie differently. What I show in the book is that when you try to do that, what happens is the pie shrinks and everybody is worse off.”

Vice President Joe Biden recently said the middle class has been “buried” during the last few years. But Moore argues that the demise of the middle class is a myth.

He comments: “First of all, let me say that the demise of the middle class over the last three years is very real. We have seen a very steep decline in middle income earnings over the last three and a half years. Since President Obama came into office, there’s been a $4,500 decline in income. That’s huge. That’s one month’s income.

“What I was talking about in the book is, over the last several decades, in the ‘80s, ‘90s and even the first of the 2000s, the middle class did very well. President Obama says, ‘Oh, the recent decades have been a time of decline in the middle class.’ That’s not
true. The real decline of the middle class was George Bush’s last year in office and Barack Obama’s first three and a half years in office.” Moore points out that the wealthiest 10 percent of Americans pay most of the taxes — 75 percent of income taxes and 45 percent of all taxes. Yet some argue that the richest Americans are still doing really well when compared to the other 90 percent and can afford to chip in a little more in taxes.

“Look, we do need more tax revenues if we want to balance this budget. There’s absolutely no  question about it,” Moore says.

“Tax revenues as a percent of our GDP are lower than they’ve been in 40 years. My response to this argument about why not just soak the rich is that that’s never really worked very well. History proves if you want to get more revenues out of rich people, cut their tax rates, don’t raise them. That’s a lesson that John F. Kennedy taught us, Ronald Reagan taught us, even George W. Bush taught us.

“I don’t think there’s any evidence  that raising tax rates way up is going to get more money out of the rich because the rich will find shelters, they will find tax carve-outs and loopholes and deductions to hide their money.”

Another argument from the left is that we should raise tax rates to where they were under President Clinton. President Obama has pointed out that those rates did not slow down economic growth during Clinton’s tenure. Moore takes issue with that point of view.

“A couple of things,” he says. “One is that President Obama doesn’t want to just raise the rates to the Clinton era, he wants them to be a lot higher. People forget that also in the Obamacare healthcare law, there’s a 3.8 percent investment surtax so rates would actually go up about four percentage points higher than they were in the Clinton administration.

“But the other thing to point out is the Clinton years were prosperous, in part because under a Republican Congress and Bill Clinton, who was a conservative in terms of his fiscal policies, government spending fell as a share of GDP from 22 percent to 18 percent. So that’s like a tax cut when you cut government spending by four percentage points of GDP.

“Barack Obama’s done just the opposite. He’s raised gross spending by almost four percentage points of GDP. We’ve been averaging about 24 percent, which is the highest it’s been any time since World War II when we were fighting the Nazis and the Japanese.

“So the point I would make is that Barack Obama’s kind of the anti-Clinton. Obama’s not a fiscal conservative. He’s driven up the debt by over $1 trillion a year. Just last week, the numbers came out that we had a $1.1 trillion deficit in 2012. That’s four straight years with trillion-dollar deficits. That isn’t fiscal conservatism. That doesn’t help anybody.”

The Bush-era tax cuts are set to expire next year at the same time that automatic cuts in government spending are scheduled to take effect, possibly leading to what some have called a “fiscal cliff.” That makes this year’s election crucial, Moore asserts.

“The most important fiscal cliff is this tax increase, and the reason this is such an important election is if Barack Obama wins, he will have a mandate from voters to raise tax rates,” he tells Newsmax.

“I agree with the Congressional Budget Office and a lot of other economists that that’s something that could cause a double dip recession. And if you think the economy’s bad now, wait until
those tax rates go up in 2013.

“One of the arguments for Mitt Romney is he’s actually going to cut the rates, not raise them. I do think we need spending cuts. There’s a lot of people who say that we can’t afford to do these spending cuts next year. Yes, we can afford to do that.

“In fact, we have to do that. We have to start really taking a blade to government spending because that’s so inefficient and every dollar the government spends is a dollar less the private sector has to spend on its own expansions.”

Mitt Romney is vowing to cut taxes by 20 percent across the board and pay for those cuts by eliminating loopholes. Romney also says he believes in a progressive tax structure.

“I like his tax plan,” Moore says. “I don’t agree with everything in it but [I agree with] the basic concept, which Ronald Reagan did with Dan Rostenkowski and Bob Packwood and Ted Kennedy and Democrats back in the
1980s.

“It’s amazing how the Democrats have moved to the left. Back then, what we did is we cut tax rates significantly, very significantly, and we closed off loopholes to make a much more efficient tax system and it worked really well. That’s what Mitt Romney, for the most part, is trying to do — get rid of the pollution and the special interest carve-outs in the tax system, lower the rates for everybody.

“It’s been proven time again, that’s a very productive way to get the economy moving again. The numbers can add up. Ronald Reagan proved the numbers can add up. When we did the 1986 tax act, that lowered the rate all the way down to 28 percent. We actually got more revenues into the treasury, not less.”

Asked to give Romney’s plan a letter grade, Moore responds: “I’ll give him a B-plus. The tax plan is strong and it will move us right in the right direction.

“Now I’d like to see a flat tax. I’m a Steve Forbes guy. One rate for everybody with no deductions, no loopholes and you get rid of the double tax on saving and investment. That would be the optimal tax system but Mitt Romney’s plan moves us in that direction.

“Interestingly, under Mitt Romney, the top tax rate would be about 28 percent. Under Barack Obama, the top tax rate goes up to 42 percent. That’s a big difference.”

Read Latest Breaking News from Newsmax.com
http://www.newsmax.com/Newsfront/moore-obama-tax-plan/2012/10/09/id/459261#ixzz2DeMBPkui

75% of Obamacare taxes will be on middle-class

Stephen Moore: We’ve Spent Over a Million Dollars For Each Green Job 

Wall Street Journal Stephen Moore – Ron Paul’s IRS proposal 

Wall Street Journal’s Stephen Moore on the 2012 Election 

Ashbrook Center – Stephen Moore – Can Capitalism Make a Comeback? – April 4 2012 

Stephen Moore, Senior Economics writer for the Wall Street Journal speaks at an Ashbrook Center Major Issues Lecture on April 4, 2012. Moore addresses the topic : Can Capitalism Make a Comeback?

Stephen Moore – America at a Crossroads

Dr. Mathew Manweller of Central Washington University and Stephen Moore of the Wall Street Journal join members of the Freedom Foundation to discuss the direction the United States going into the 2012 election.

Read Full Post | Make a Comment ( None so far )

Bye Bye Birdie aka Bubbles Ben Bernanke and Bye Bye Blackbird Barry–A Twofer!–Videos

Posted on November 4, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Foreign Policy, government, government spending, history, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Radio, Rants, Raves, Resources, Wisdom | Tags: , , , , , , , , , , , , |

Ann-Margret BYE BYE BIRDIE

“CTRL+P” BERNANKE IS ALMOST DEAD!

November 2, 2011, Press Conference with Chairman of the FOMC, Ben S. Bernanke 

Peter Schiff  – The Fed Unspun: The Other Side of the Story 

Jim Rogers on Ben Bernanke, the Dollar and “Saving the Saver” 

Investor Jim Rogers Gives Dire Warning

Marc Faber: Fed Monetary Policy Will Destroy World 9/14/2012

G. Edward Griffin: “The End Of The Line”

Taylor at CFR: Rethinking the Fed’s Dual Mandate 

Corker On Fed’s Dual Mandate

Pence: End Dual Mandate of Fed

A Discussion of the Fed’s Dual Mandate Responsibilities

Huizenga Questions Witnesses on the Dual Mandate of the Fed 

Julie London & Bass Duet Bye Bye Blackbird Colour TV Show 

Read Full Post | Make a Comment ( None so far )

We Can’t Afford Four Years of Obama With Fewer Americans Working Than Five Years Ago In November 2007 (146.6 Million) Than Today (143.4 Million)–Obama Is Not Working Out–Vote For A Change–Videos

Posted on November 4, 2012. Filed under: American History, Blogroll, Business, Communications, Culture, Demographics, Economics, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, Health Care, history, Immigration, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, media, Monetary Policy, People, Philosophy, Politics, Programming, Psychology, Rants, Raves, Resources, Video, Wealth, Weather, Wisdom | Tags: , , , , , , , , , |

November 2nd 2012 CNBC Stock Market Squawk Box (October Jobs Report)

Market Week in Review – November 2, 2012 

Employment Level

143.384 Million

Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146028(1) 146057 146320 145586 145903 146063 145905 145682 146244 145946 146595 146273
2008 146397(1) 146157 146108 146130 145929 145738 145530 145196 145059 144792 144078 143328
2009 142187(1) 141660 140754 140654 140294 140003 139891 139458 138775 138401 138607 137968
2010 138500(1) 138665 138836 139306 139340 139137 139139 139338 139344 139072 138937 139220
2011 139330(1) 139551 139764 139628 139808 139385 139450 139754 140107 140297 140614 140790
2012 141637(1) 142065 142034 141865 142287 142415 142220 142101 142974 143384
1 : Data affected by changes in population controls.

Civilian Labor Force Level

155.641 Million

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154075(1) 153648 153925 153761 154325 154316 154480 154646 154559 154875 154622 154626
2009 154236(1) 154521 154143 154450 154800 154730 154538 154319 153786 153822 153833 153091
2010 153454(1) 153704 153964 154528 154216 153653 153748 154073 153918 153709 154041 153613
2011 153250(1) 153302 153392 153420 153700 153409 153358 153674 154004 154057 153937 153887
2012 154395(1) 154871 154707 154365 155007 155163 155013 154645 155063 155641
1 : Data affected by changes in population controls.

Labor Force Participation Rate

63.8%

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 65.9 66.0 65.8 65.8
2009 65.7 65.8 65.6 65.6 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.1 64.9 64.6 64.6 64.7 64.6 64.4 64.5 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.1 64.0 64.1 64.1 64.1 64.0 64.0
2012 63.7 63.9 63.8 63.6 63.8 63.8 63.7 63.5 63.6 63.8

Unemployment Level

12.258 Million

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7678 7491 7816 7631 8395 8578 8950 9450 9501 10083 10544 11299
2009 12049 12860 13389 13796 14505 14727 14646 14861 15012 15421 15227 15124
2010 14953 15039 15128 15221 14876 14517 14609 14735 14574 14636 15104 14393
2011 13919 13751 13628 13792 13892 14024 13908 13920 13897 13759 13323 13097
2012 12758 12806 12673 12500 12720 12749 12794 12544 12088 12258

Unemployment Rate U-6

7.9%

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 8.3 8.7 8.9 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.8 9.9 9.6 9.4 9.5 9.6 9.5 9.5 9.8 9.4
2011 9.1 9.0 8.9 9.0 9.0 9.1 9.1 9.1 9.0 8.9 8.7 8.5
2012 8.3 8.3 8.2 8.1 8.2 8.2 8.3 8.1 7.8 7.9

Total Unemployment Rate U-6

14.7%

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.1 11.8 12.7 13.5
2009 14.2 15.1 15.7 15.8 16.4 16.5 16.5 16.7 16.8 17.2 17.1 17.1
2010 16.7 16.9 16.9 17.0 16.6 16.5 16.5 16.6 16.9 16.8 16.9 16.6
2011 16.1 15.9 15.7 15.9 15.8 16.2 16.1 16.2 16.4 16.0 15.6 15.2
2012 15.1 14.9 14.5 14.5 14.8 14.9 15.0 14.7 14.7 14.6

Background Articles and Videos

Mythical Green Shoots and the Big Government Lie on Unemployment

Employment Situation Summary

Transmission of material in this release is embargoed                       USDL-12-2164
until 8:30 a.m. (EDT) Friday, November 2, 2012

Technical information:
 Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov

                         THE EMPLOYMENT SITUATION -- OCTOBER 2012

Total nonfarm payroll employment increased by 171,000 in October, and the unemployment
rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics
reported today. Employment rose in professional and business services, health care,
and retail trade.

   _______________________________________________________________________________
  |                                                                               |
  |                                Hurricane Sandy                                |
  |                                                                               |
  |Hurricane Sandy had no discernable effect on the employment and unemployment   |
  |data for October. Household survey data collection was completed before the    |
  |storm, and establishment survey data collection rates were within normal ranges|
  |nationally and for the affected areas. For information on how unusually severe |
  |weather can affect the employment and hours estimates, see the Frequently Asked|
  |Questions section of this release.                                             |
  |                                                                               |
  |_______________________________________________________________________________|

Household Survey Data

Both the unemployment rate (7.9 percent) and the number of unemployed persons (12.3
million) were essentially unchanged in October, following declines in September.
(See table A-1.)

Among the major worker groups, the unemployment rate for blacks increased to 14.3
percent in October, while the rates for adult men (7.3 percent), adult women (7.2
percent), teenagers (23.7 percent), whites (7.0 percent), and Hispanics (10.0 percent)
showed little or no change. The jobless rate for Asians was 4.9 percent in October
(not seasonally adjusted), down from 7.3 percent a year earlier. (See tables A-1,
A-2, and A-3.)

In October, the number of long-term unemployed (those jobless for 27 weeks or more)
was little changed at 5.0 million. These individuals accounted for 40.6 percent of
the unemployed. (See table A-12.)

The civilian labor force rose by 578,000 to 155.6 million in October, and the labor
force participation rate edged up to 63.8 percent. Total employment rose by 410,000
over the month. The employment-population ratio was essentially unchanged at 58.8
percent, following an increase of 0.4 percentage point in September. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to
as involuntary part-time workers) fell by 269,000 to 8.3 million in October, partially
offsetting an increase of 582,000 in September. These individuals were working part
time because their hours had been cut back or because they were unable to find a
full-time job. (See table A-8.)

In October, 2.4 million persons were marginally attached to the labor force, little
different from a year earlier. (These data are not seasonally adjusted.) These
individuals were not in the labor force, wanted and were available for work, and had
looked for a job sometime in the prior 12 months. They were not counted as unemployed 
because they had not searched for work in the 4 weeks preceding the survey. (See
table A-16.)

Among the marginally attached, there were 813,000 discouraged workers in October, a
decline of 154,000 from a year earlier. (These data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they believe
no jobs are available for them. The remaining 1.6 million persons marginally attached
to the labor force in October had not searched for work in the 4 weeks preceding
the survey for reasons such as school attendance or family responsibilities. (See
table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 171,000 in October. Employment growth
has averaged 157,000 per month thus far in 2012, about the same as the average monthly
gain of 153,000 in 2011. In October, employment rose in professional and business
services, health care, and retail trade. (See table B-1.)

Professional and business services added 51,000 jobs in October, with gains in 
services to buildings and dwellings (+13,000) and in computer systems design (+7,000).
Temporary help employment changed little in October and has shown little net change 
over the past 3 months. Employment in professional and business services has grown by
1.6 million since its most recent low point in September 2009.

Health care added 31,000 jobs in October. Job gains continued in ambulatory health
care services (+25,000) and hospitals (+6,000). Over the past year, employment in
health care has risen by 296,000.

Retail trade added 36,000 jobs in October, with gains in motor vehicles and parts dealers 
(+7,000), and in furniture and home furnishings stores (+4,000). Retail trade has added
82,000 jobs over the past 3 months, with most of the gain occurring in motor vehicles
and parts dealers, clothing and accessories stores, and miscellaneous store retailers.

Employment in leisure and hospitality continued to trend up (+28,000) over the month.
This industry has added 811,000 jobs since a recent low point in January 2010, with
most of the gain occurring in food services.

Employment in construction edged up in October. The gain was concentrated in specialty
trade contractors (+17,000).

Manufacturing employment changed little in October. On net, manufacturing employment
has shown little change since April.

Mining lost 9,000 jobs in October, with most of the decline occurring in support
activities for mining. Since May of this year, employment in mining has decreased
by 17,000.

Employment in other major industries, including wholesale trade, transportation and 
warehousing, information, financial activities, and government, showed little change
over the month.

In October, the average workweek for all employees on private nonfarm payrolls was
34.4 hours for the fourth consecutive month. The manufacturing workweek edged down by
0.1 hour to 40.5 hours, and factory overtime was unchanged at 3.2 hours. The average
workweek for production and nonsupervisory employees on private nonfarm payrolls edged
down by 0.1 hour to 33.6 hours. (See tables B-2 and B-7.)

In October, average hourly earnings for all employees on private nonfarm payrolls edged
down by 1 cent to $23.58. Over the past 12 months, average hourly earnings have risen
by 1.6 percent. In October, average hourly earnings of private-sector production and
nonsupervisory employees edged down by 1 cent to $19.79. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for August was revised from +142,000 to
+192,000, and the change for September was revised from +114,000 to +148,000.

_____________
The Employment Situation for November is scheduled to be released on Friday,
December 7, 2012, at 8:30 a.m. (EST).
Read Full Post | Make a Comment ( None so far )

U.S. Real Gross Domestic Product Grew in 3rd Quarter at 2% Annual Rate–Videos

Posted on October 26, 2012. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, Homes, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Politics, Psychology, Rants, Regulations, Resources, Tax Policy, Taxes, Technology, Video, Wealth | Tags: , , , , |

US growth up, but not enough to help Obama

The Politics Behind the Latest Government Economic Report

US GDP grows 2% ahead of presidential election

GDP Rises 2% in 3rd Quarter, Consumer Spending Increases

3XSQ: U.S. GDP expands 2%

National Income and Product Accounts Gross Domestic Product: Third Quarter 2012 (advance estimate)
      Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 2.0 percent in the third quarter of 2012 (that
is, from the second quarter to the third quarter), according to the "advance" estimate released by the
Bureau of Economic Analysis.  In the second quarter, real GDP increased 1.3 percent.

      The Bureau emphasized that the third-quarter advance estimate released today is based on source
data that are incomplete or subject to further revision by the source agency (see box below).  The
"second" estimate for the third quarter, based on more complete data, will be released on November 29,
2012.

      The increase in real GDP in the third quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), federal government spending, and residential fixed
investment that were partly offset by negative contributions from exports, nonresidential fixed
investment, and private inventory investment.  Imports, which are a subtraction in the calculation of
GDP, decreased.

      The acceleration in real GDP in the third quarter primarily reflected an upturn in federal
government spending, a downturn in imports, an acceleration in PCE, a smaller decrease in private
inventory investment, an acceleration in residential fixed investment, and a smaller decrease in state and
local government spending that were partly offset by downturns in exports and in nonresidential fixed
investment.

____________

FOOTNOTE.  Quarterly estimates are expressed at seasonally adjusted
annual rates, unless otherwise specified.  Quarter-to-quarter dollar changes
are differences between these published estimates.  Percent changes are
calculated from unrounded data and are annualized.  "Real" estimates are in
chained (2005) dollars.  Price indexes are chain-type measures.

      This news release is available on BEA’s Web site along with the Technical Note and Highlights related to this release.
____________

      Final sales of computers added 0.17 percentage point to the third-quarter change in real GDP
after subtracting 0.10 percentage point from the second-quarter change.  Motor vehicle output subtracted
0.47 percentage point from the third-quarter change in real GDP after adding 0.20 percentage point to
the second-quarter change.

      The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 1.5 percent in the third quarter, compared with an increase of 0.7 percent in the second.
Excluding food and energy prices, the price index for gross domestic purchases increased 1.3 percent in
the third quarter, compared with an increase of 1.4 percent in the second.

      Real personal consumption expenditures increased 2.0 percent in the third quarter, compared
with an increase of 1.5 percent in the second.  Durable goods increased 8.5 percent, in contrast to a
decrease of 0.2 percent.  Nondurable goods increased 2.4 percent, compared with an increase of 0.6
percent.  Services increased 0.8 percent, compared with an increase of 2.1 percent.

      Real nonresidential fixed investment decreased 1.3 percent in the third quarter, in contrast to an
increase of 3.6 percent in the second.  Nonresidential structures decreased 4.4 percent, in contrast to an
increase of 0.6 percent.  Equipment and software decreased less than 0.1 percent, in contrast to an
increase of 4.8 percent.  Real residential fixed investment increased 14.4 percent, compared with an
increase of 8.5 percent.

      Real exports of goods and services decreased 1.6 percent in the third quarter, in contrast to an
increase of 5.3 percent in the second.  Real imports of goods and services decreased 0.2 percent, in
contrast to an increase of 2.8 percent.

      Real federal government consumption expenditures and gross investment increased 9.6 percent
in the third quarter, in contrast to a decrease of 0.2 percent in the second.  National defense increased
13.0 percent, in contrast to a decrease of 0.2 percent.  Nondefense increased 3.0 percent, in contrast to a
decrease of 0.4 percent.  Real state and local government consumption expenditures and gross
investment decreased 0.1 percent, compared with a decrease of 1.0 percent.

      The change in real private inventories subtracted 0.12 percentage point from the third-quarter
change in real GDP after subtracting 0.46 percentage point from the second-quarter change.  Farm
inventories subtracted 0.42 percentage point from the third-quarter change after subtracting 0.17
percentage point from the second-quarter change.  Nonfarm inventories added 0.30 percentage point to
the third-quarter change after subtracting 0.29 percentage point from the second-quarter change.

      Real final sales of domestic product -- GDP less change in private inventories -- increased 2.1
percent in the third quarter, compared with an increase of 1.7 percent in the second.

Gross domestic purchases

      Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 2.1 percent in the third quarter, compared with an increase of 1.0 percent in the
second.

Disposition of personal income

      Current-dollar personal income increased $89.3 billion (2.7 percent) in the third quarter,
compared with an increase of $130.3 billion (4.0 percent) in the second.

      Personal current taxes increased $13.2 billion in the third quarter, compared with an increase of
$20.2 billion in the second.

      Disposable personal income increased $76.1 billion (2.6 percent) in the third quarter, compared
with an increase of $110.0 billion (3.8 percent) in the second.  Real disposable personal income
increased 0.8 percent, compared with an increase of 3.1 percent.

      Personal outlays increased $111.4 billion (4.0 percent) in the third quarter, compared with an
increase of $57.4 billion (2.0 percent) in the second.  Personal saving -- disposable personal income less
personal outlays -- was $445.0 billion in the third quarter, compared with $480.3 billion in the second.
The personal saving rate -- personal saving as a percentage of disposable personal income -- was 3.7
percent in the third quarter, compared with 4.0 percent in the second.  For a comparison of personal
saving in BEA’s national income and product accounts with personal saving in the Federal Reserve
Board’s flow of funds accounts and data on changes in net worth, go to
www.bea.gov/national/nipaweb/Nipa-Frb.asp.

Current-dollar GDP

      Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
5.0 percent, or $190.1 billion, in the third quarter to a level of $15,775.7 billion.  In the second quarter,
current-dollar GDP increased 2.8 percent, or $107.3 billion.

______________

BOX.     Information on the assumptions used for unavailable source data is provided in a technical note that
is posted with the news release on BEA's Web site.  Within a few days after the release, a detailed "Key
Source Data and Assumptions" file is posted on the Web site.  In the middle of each month, an analysis of
the current quarterly estimate of GDP and related series is made available on the Web site; click on Survey
of Current Business, "GDP and the Economy."  For information on revisions, see "Revisions to GDP, GDI, and
Their Major Components."
______________

      BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov. By visiting the
site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.

                                        *          *          *

Next release -- November 29, 2012, at 8:30 A.M. EST for:
Gross Domestic Product:  Third Quarter 2012 (Second Estimate)
Corporate Profits:  Third Quarter (Preliminary Estimate)

                                        *          *          *

Release Dates in 2013

           	 2012: IV and 2012 annual    	2013: I     	2013: II          2013: III

Gross Domestic Product
Advance...		January 30            	April 26	July 31		  October 30
Second...		February 28          	May 30      	August 29	  November 26
Third... 		March 28             	June 26     	September 26	  December 20

Corporate Profits
Preliminary...          ........		May 30      	August 29	  November 26
Revised... 		March 28             	June 26     	September 26	  December 20

                                            Comparisons of Revisions to GDP

     Quarterly estimates of GDP are released on the following schedule:  the "advance" estimate, based on
source data that are incomplete or subject to further revision by the source agency, is released near the end of the
first month after the end of the quarter; as more detailed and more comprehensive data become available,
the "second" and "third" estimates are released near the end of the second and third months, respectively.
The "latest"” estimate reflects the results of both annual and comprehensive revisions.

     Annual revisions, which generally cover the quarters of the 3 most recent calendar years, are usually carried
out each summer and incorporate newly available major annual source data.  Comprehensive (or benchmark)
revisions are carried out at about 5-year intervals and incorporate major periodic source data, as well as
improvements in concepts and methods that update the accounts to portray more accurately the evolving U.S.
economy.

The table below shows comparisons of the revisions between quarterly percent changes of current-dollar
and of real GDP for the different vintages of the estimates.  From the advance estimate to the second estimate (one
month later), the average revision to real GDP without regard to sign is 0.5 percentage point, while from the
advance estimate to the third estimate (two months later), it is 0.6 percentage point.  From the advance estimate to
the latest estimate, the average revision without regard to sign is 1.3 percentage points.  The average revision
(with regard to sign) from the advance estimate to the latest estimate is 0.2 percentage point, which is larger
than the average revisions from the advance estimate to the second or to the third estimates.  The larger average
revisions to the latest estimate reflect the fact that comprehensive revisions include major improvements, such as
the incorporation of BEA’s latest benchmark input-output accounts.  The quarterly estimates correctly indicate the
direction of change of real GDP 97 percent of the time, correctly indicate whether GDP is accelerating or
decelerating 72 percent of the time, and correctly indicate whether real GDP growth is above, near, or below trend
growth more than four-fifths of the time.

                           Revisions Between Quarterly Percent Changes of GDP: Vintage Comparisons
                                                     [Annual rates]

       Vintages                                   Average         Average without     Standard deviation of
       compared                                                    regard to sign      revisions without
                                                                                         regard to sign

____________________________________________________Current-dollar GDP_______________________________________________

Advance to second....................               0.2                 0.6                  0.4
Advance to third.....................                .1                  .7                   .4
Second to third......................                .0                  .3                   .2

Advance to latest....................                .3                 1.2                  1.0

________________________________________________________Real GDP_____________________________________________________

Advance to second....................               0.1                 0.5                  0.4
Advance to third.....................                .1                  .6                   .5
Second to third......................                .0                  .2                   .2

Advance to latest....................                .2                 1.3                  1.0

NOTE.  These comparisons are based on the period from 1983 through 2009.
Read Full Post | Make a Comment ( None so far )

Bill Gates–Microsoft–New Wave of Products–Surface–Videos

Posted on October 25, 2012. Filed under: Blogroll, Books, Business, Communications, Economics, liberty, Life, Links, media, Philosophy, Rants, Raves, Resources, Reviews, Technology, Video, Wealth | Tags: , , , , , , |

Bill Gates – Introducing Microsoft Windows 8 and Microsoft Surface – HD

Microsoft Windows Surface RT Review # 1: An Introduction

Microsoft Surface is the best productivity tablet yet

CNET Update:      Digging deep into Microsoft’s Surface

Microsoft Surface Pricing

Microsoft Surface Tablet Windows 8 Touch Screen – Hand on Review 

Background Articles and Videos

Microsoft Surface – Keynote (Microsoft first Window 8 Tablet) 

Related Posts On Pronk Palisades

Microsoft’s No Compromises–Surface–Doing More With Less Than $500?–Real Cool–iPad Killer?–Video

Microsoft and Nokia Partnership On Smart Phones–Videos

Windows Phone Series 7–Videos

Bill Gates–Videos

Bill Gates Goes Nuclear with The TerraPower Traveling Wave Reactor–The Next Big Thing–Innovation and Technology Making A Difference

Bill Gates Wants More Best, Bright, and Cheap Foreign Labor–More Jobs and Competition In Amercan Labor Market Is Needed–Not More Visas and Subsidies!

The History of Microsoft–Videos

A Kinder Gentler Wiser Microsoft Gives Away Valuable Software Developer Tools to Students Around The World!

Bill Gates–Hope, Change and Rapid Affluence Development–Creative Capitalism!

Wealth, Income and Job Creation: Let A 1000 Microsofts Bloom

Microsoft’s Channel 9 Coffeehouse Community Killer–spam

Microsoft Expression Studio–Videos

Read Full Post | Make a Comment ( None so far )

« Previous Entries

Liked it here?
Why not try sites on the blogroll...

Follow

Get every new post delivered to your Inbox.

Join 357 other followers