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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (14500)	6/30/2009 10:57:30 AM
From: JakeStraw	1 Recommendation Read Replies (2) \| Respond to of 103300

In just two years, the debt load will leap to 60% of GDP, and to 87% by 2020 and 181% by 2035 — just 25 years away. Today, we spend about 1% of GDP on paying down debt. That's estimated to rise to 2.5% by 2020. Soon these payments will start eating seriously into our budget, and we'll be like hapless homeowners who put too much on their credit cards. We'll be working just to pay our debts — or rather, our children and grandchildren will. Almost all of this spending surge is due to entitlements. So it doesn't even include possible programs like cap and trade and national health care. Medicare and Medicaid alone account for 80% of the growth of all entitlement spending over the next 25 years, rising from 5% of GDP to 10%. Now, imagine the rest of health care spending — about 13% of GDP right now — on the government's tab, too. The CBO says this debt growth will have a pernicious effect on the economy. "As investment (is) displaced by government debt, GDP (will) grow more slowly and eventually decline." ibdeditorials.com

To: Kenneth E. Phillipps who wrote (14500)	6/30/2009 1:19:13 PM
From: JakeStraw	1 Recommendation Respond to of 103300

Jobless rates rise in all US metro areas in May finance.yahoo.com

To: Kenneth E. Phillipps who wrote (14500)	7/2/2009 9:58:28 AM
From: JakeStraw	Respond to of 103300

US employers cut larger-than-expected 467,000 jobs in June; jobless rate ticks up to 9.5 pct finance.yahoo.com Driving the unemployment rate up to a 26-year high of 9.5 percent...

To: Kenneth E. Phillipps who wrote (14500)	7/2/2009 11:34:00 AM
From: JakeStraw	1 Recommendation Read Replies (1) \| Respond to of 103300

Hardworking families could have paid a lot of bills and sent a lot of kids to college with the $300,000 of "taxpayer money" the government spends every week or so to fly Speaker Nancy Pelosi home to San Francisco for a round of political fundraisers and parties. American taxpayers could do a lot of good for themselves and others with the $400 billion in taxpayer money that Washington spends each year on the 55% of government programs that admittedly fail to accomplish their purposes. ibdeditorials.com

To: Kenneth E. Phillipps who wrote (14500)	7/6/2009 10:16:08 AM
From: JakeStraw	1 Recommendation Read Replies (2) \| Respond to of 103300

Stop The Madness That's Killing Jobs More grim news — 467,000 jobs lost in June, with unemployment hitting a 26-year high of 9.5%. Some people are rightly starting to wonder: Where's that stimulus we were promised? ibdeditorials.com Why is this job decline happening? The private sector — the real engine of economic and job growth — won't hire because it's scared of what it sees coming out of Washington. On the horizon, as far as the eye can see, are higher taxes, uncontrolled spending and layers upon layers of new regulations.