Frosty the Snow Job.
"Therefore, that’s $2.50 per gallon X 42=$105.00 X 10,000,000 barrels, which equals $1,050,000,000.00 we pay other countries daily. That’s money that never returns to America."
He's only high by over $350 billion per day (roughly 13 million barrels per day of net imports times the $53.5/barrel avg FOB cost of imported oil this year is $696 million, not $1.05 billion), but worse than that is his ignorant notion that this "money that never returns to America." Foreign investment in the US in 2006 came to over $2.4 TRILLION, nearly ten times our current imported oil burn rate.
"Brian Williams of NBC stated that the Federal deficit will grow another $383 billon in 2007."
Brian Williams should watch the news. The CBO says this year's budget deficit will be less than $200 billion and many private-sector analysts are predicting a number as low as $150 billion.
"But, if GM and Ford collapse, Michigan, Ohio, Indiana and Illinois will become basket cases because most of their jobs involve the auto industry."
These four states employ almost 19 million people. The entire country employs only about 1 million people in motor vehicle and motor vehicle parts manufacturing. I guess "most" means something different to Frosty. Hell, it couldn't even be most of the manufacturing jobs - manufacturing jobs in these states are over 2.6 million.
"Harvard’s Professor Borjas of economics showed that illegal aliens displace American workers out of $200 billion in lost wages annually."
I'm gonna need a cite for that, Frosty. According to Borjas' own analysis, the net long-term effect on US wages from all immigration, legal and otherwise, is zero-point-zero percent.
econlog.econlib.org
Oh, and even most immigration opponents only claims 12 million illegals, not 20 million.
"Additionally, illegal aliens send over $61 billion back to their home countries each year. In other words, they are slashing and slicing the Golden Goose. Over $20 billion bleeds to Mexico, $25 billion to South America and $16 billion to Asia."
Now he's just making s#!t up - according to the BEA, private remittances to all of Central and South America came to less than $21 billion last year and adding in all of Asia and Pacific only adds $9 billion more. Hell, total private remittances to the entire rest of the world cam to only $56 billion last year, yet somehow illegals alone remit five billion more than that? Bull crap.
But let's say he's right - so f'ing what? US currency in circulation abroad is effectively free revenues for the US treasury.
"All the while, according to a recent Bears and Stearns report, illegals work off the books to the tune of $400 billion annually in uncollected IRS income taxes. Who makes up that money?"
A better question would be "who makes up Frosty's numbers?"
Actually, Bear Stearns estimates lost income tax revenue from all "off the books" jobs - only a portion of which are held by illegals - at up to $35 billion annually. Not even remotely close to $400 billion.
bearstearns.com
I could go on, but this joker, Frosty, isn't worth the time I've given him already. He's a liar or an idiot - or both. |
