Continuing Annual Debt Increase
The CBO set the annual debt for 2012 at 1.1 trillion taking the
average annual debt, under Obama, down to 1.4 trillion (per year). Under
Bush, the previous record holder, average annual debt was $400 billion.
Understand that the four year plan, from this administration, called
for a $600 billion in deficit for 2012 ($800 billion for 2011).
Further, the
CBO sees unemployment at 8% or above through all of 2012. We tend to
forget that under Bush, unemployment averaged 5.5% for the eight year
term including the recession laden 2008 . . . . . . . 4.7% without 2008
numbers. We are in the fifth year of this recessionary period and Obama
continues to act as if his social agenda, moving this country
into an European style form of governance, is more important than dealing
the recession.
Housing prices
have declined in value, during this period (actually since 2006) by
33% and Obama's mortgage rescue plan has failed. Designed to give aid to
7 million troubled homeowners, less than 400,000 were benefited.
And the beat goes on. With latest totals, end of year (2011)
mortgage prices declined another 1.3% according to the S&P / Case Shiller
20 city index. Prices on that index fell in 19 of the 20 cities studied.
Phoenix, Arizona was the lone exception. Chicago,
Atlanta and Detroit are the hardest hit by the mortgage crisis.
Update:
True unemployment: According to the CBO, if we included the same size workforce as two years ago (the Obama Administration has reduced down the size of the workforce), the 8.5% unemployment rate reported for December of 2011 would actually be 10%.
Taxes are scheduled to increase by more than 30% over 2012 and 2013.
GDP (the measure of our economic expansion) will be 2.2% for 2012 (it was 1.7% for the entire of 2011), and just 1.0 % for 2013, the year that ObamaCare rises to full force as a forced law
Update:
True unemployment: According to the CBO, if we included the same size workforce as two years ago (the Obama Administration has reduced down the size of the workforce), the 8.5% unemployment rate reported for December of 2011 would actually be 10%.
Taxes are scheduled to increase by more than 30% over 2012 and 2013.
GDP (the measure of our economic expansion) will be 2.2% for 2012 (it was 1.7% for the entire of 2011), and just 1.0 % for 2013, the year that ObamaCare rises to full force as a forced law
End Notes:
CNN
Business News 1/31/2012
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