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Economy

Federal debt increased $50,521 per household in the last four years

I have enough stress dealing with the debt I incur on my own.  I don't need another 50 G's added to that.  :

During Barack Obama’s first term as president of the United States, the debt of the federal government increased by $5.8 trillion, which exceeds the combined debt accumulated under all presidents from George Washington through Bill Clinton.

The new federal debt accumulated in Obama's first term equaled approximately $50,521 for each of household in the country.

On Jan. 20, 2009, when Obama was first inaugurated, the total debt of the federal government was $10,626,877,048,913.08, according to the U.S. Treasury. As of the close of business on Jan. 17, the last day reported by the Treasury before Obama’s second inauguration, the total debt of the federal government was $16,432,631,489,854.70.

Thus, from Obama’s first inauguration to his second, the federal government’s debt grew by $5,805,754,440,941.62.

Given that the Census Bureau currently estimates that there are 114,916,000 households in the United States, the $5,805,754,440,941.62 debt increase under Obama equals about $50,521 per household.

Reality of the fiscal cliff deal

Now that the Election Is Over, the Washington Post Admits that the Obama Recovery Has Been Terrible

Timing is everything.  Source: 

I agree that Obama inherited a crappy economy, and I think it is silly to assert that he bears any responsibility for the severity of the 2007-2009 recession.

But it is very fair to hold him responsible for what's happened since the recession ended. I've cited data from the Minneapolis Federal Reserve on both employment and gross domestic product to show that .

And I think it is fair to blame Obama for the economy's anemic performance during that time, largely because his agenda of and exacerbated the . In other words, he promised "hope" and "change," but delivered more of the same.

Bovine exodus from California?

This is actually quite interesting.  I never knew there was government cheese before...

It's not just millionaires and billionaires who are fleeing the economic madness in California. Even cows are starting to depart for greener pastures. That's right, 400 bovine refugees shuffled off to Kansas just this month, with more expected to follow as over 100 dairy farms in California close their doors.

Why are cows voting with their hooves?

It's hard to find a government program as insane as the complex web of price supports, market orders, direct payments, diversion programs, herd reductions, import barriers, export subsidies, and stacked-to-the-rafters cheese warehouses that characterize Uncle Sam's efforts to "rationally manage" the dairy market. If you really want to understand how crony capitalism works to create market conditions only a Soviet commissar could love, take a look at what happens when byzantine federal regulations collide with state interventions.

Around the time of the New Deal, guaranteeing the milk supply joined life, liberty, and the pursuit of happiness as one of the cardinal responsibilities of government. While this may be ascribed to a desire by politicians to always have enough babies to kiss, some suspect that buying the votes of dairy farmers had something to do with it.

DHS Hides Records of Failed $1 Bil System from Congress

:

In an apparent effort to cover up a potential scandal, the Department of Homeland Security (DHS) has for months refused to provide congressional leaders with records related to a failed program that was quietly nixed after the agency blew $1 billion on it.

The faulty “life-saving” technology, known as was supposed to detect biological attacks. However, it’s never come close to meeting its goal of accurately detecting pathogens that cause anthrax, tularemia, smallpox, plague and other deadly diseases. Instead it is well known for false alarms and other glitches. In short, it’s turned out to be a worthless money pit for U.S. taxpayers.  

The system became such a joke that state and local authorities didn’t bother ordering evacuations when its alarm triggered. In fact, before DHS pulled the plug in BioWatch a few months ago, it was revealed that federal agencies documented 56 false alarms since 2008. Regardless, DHS kept pouring money into it and even planned to invest billions more to upgrade the inept BioWatch system this year. DHS’s chief medical officer even vouched for the upgrade, telling a congressional committee that it was “imperative to saving thousands of lives.”

Hostess Goes Down: Daily Kos Blames Corporate Greed and Mitt Romney-Style Liquidation

Not that I eat them much, since they are chock-full of notgoodforyou, but the Twinkie is also chock-full of nostalgia.  Alas, the poor Twinkie and cakey compatriots are no more.  :

The Wall Street Journal has the main story, "." (At .)

But check the extreme left Daily Kos for the "workers'" perspective, "":

Whoops, that dip in unemployment was a California boo boo

How curious that the jobless numbers dropped dramatically just before the last debate.  Guess what?  Just as curiously, .

Remember how the Bureau of Labor Statistics put out a bizarrely low jobless claims report last week, producing breathless coast-to-coast media coverage of the lowest claims level in four years?  Remember how it turned out they produced this report without having received all of the necessary data?  (BLS still won’t say exactly what was missing; it has been theorized that it had something to do with the numbers from California, which delayed calculation of the traditional “seasonal adjustments.”  However, the crew at disputes the California theory, growling that in truth, “nobody at the Department of Labor knows what is actually going on, and numbers are simply being picked out of thin air.”)

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by Dr. Radut