The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds.
Under those accounting practices, the government ran red ink last year equal to $42,054 per household — nearly four times the official number reported under unique rules set by Congress.
A U.S. household’s median income is $49,445, the Census reports.
The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.
The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government’s books.
Deficits are a major issue in this year’s presidential campaign, but USA TODAY has calculated federal finances under accounting rules since 2004 and found no correlation between fluctuations in the deficit and which party ran Congress or the White House.
“S&P’s downgrade on us was right, matter of fact we’re going to get another downgrade. I can tell you right now, you can have a great legal case for suing the rating agencies for not downgrading us again because we have not demonstrated the political will to solve the problems,” said Coburn on CBS’s midweek show “Face to Face,” posted online Wednesday. …
“We should see another downgrade, because we have not done the structural things that will fix our country,” he added. …
When asked if he agreed with Boehner’s decision to push forward the tumultuous debt-ceiling debate, Coburn said, “I think that’s exactly what our founders had in mind.” …
“Those are all things people don’t want to hear, but it’s going to happen, because if we don’t do it, the people who are loaning us the money are going to make us do it,” he said.
Only in gay california will you find these two people in kinship.
DOUBLE THE FAIL: OPRAH TEAMS WITH ARIANNA TO SAVE NETWORK
Oprah Winfrey’s OWN network is hemorrhaging money, and her popularity has yet to recover after her public embrace of then-Sen. Barack Obama’s race for the White House.
Fellow Obama backer Arianna Huffington’s much-balleyhooed deal with AOL hasn’t worked out as planned, with the Web leader’s influence getting trimmed back in recent weeks.
Now, the two media moguls are licking their wounds together as part of a new deal Deadline.com instantly branded as “desperate.”
MRC caught up with several N.O.W. cows who were complaining about how Rush Limbaugh engages in hate speech for having called Sandra Fluke a slut.
But they don’t want Ed Schultz removed from the air for being even more foul.
After learning about an anti-Rush Limbaugh protest being held by the National Organization for Women (NOW), MRCTV’s Dan Joseph set out to see what the hoopla was all about. To his surprise, rather than swaths of angry protesters, he found a dozen women waving signs and attempting to get drivers to “honk” in support of their efforts. Of course, Joseph took the opportunity to quickly engaged them in uncomfortable dialogue.
After he approached the women, who were holding signs reading, “Fight the radical right,” among other related messages, Joseph asked them why they were protesting Limbaugh. Their responses, while unsurprising, spawned what conservatives will surely see as hypocrisy.
Well, it seems yes obama is a socialist….
It’s a reminder that the President presented himself as much more progressive during his time in Chicago. In this little-seen advertisement that ran in the Hyde Park Herald in 1996, Obama was listed on a panel sponsored by the Democratic Socialists of America (DSA), University of Chicago Democrats, and University of Chicago DSA. He also supported gay marriage back then.
Muslim woman asked by security to remove head scarf in NJ mall, security guards sent to diversity training Screw islamics! Follow rules and orders or get the hell out of our country! And what security guards are paid? I would have told the powers that did this to kiss my ass!
As Egypt Votes, Muslim Brotherhood Vows It Won’t Bow to U.S. So the USA should stop all moneys to them NOW! And throw the president in jail if he bypasses congress again!
Levi Johnston is ‘penniless and living with his mother after squandering $1million on guns, boats and cars’ Asswipe should be in jail! For life.
Find out more at http://eagnews.org
Over the past year, a lot of people have been talking about “the 1%” versus “the 99%.” But if you’re concerned about one class exploiting another for economic gain, that’s the wrong way to look at the problem.
The protesters are right about one thing: there are gross class inequities in America.
There is one class that works more hours per day, more days per year, for more years of their lives. They have less job security, they pay more for health coverage, and their retirements are not guaranteed. Their incomes are determined by their performance, limited by economic reality, and tied to the fortunes of their employers. This is the private-sector producer class.
Part of what private-sector workers produce is taken for the benefit of another class, the government class.
The government class plays by a different set of rules, dictated by unions and implemented by the politicians they help elect. For government union members, income is not determined by job performance, but by how many years they’ve managed to stick around. They’ll work fewer hours, get more vacation time, and make more money than their producer class colleagues. They’ll get better health coverage, and it’ll cost them less. The government class will retire at an earlier age and with a pension providing a guaranteed income, something fewer than 1 in 10 producer-class workers enjoy.
In Wisconsin, the government class makes up 14% of the population, exploiting the other 86%, the producer class.
The average Wisconsin state employee makes about $70,000 annually in salary and benefits, while the private-sector workers whose taxes pay for it earn about $15,000-a-year less. Talk about income disparity!
The government class is powerful because government employees are members of unions that contribute heavily to political campaigns. And in Wisconsin, no single group funnels more money into politics than teachers unions.
As the producer class struggled with a sluggish economy, Milwaukee public school teachers were rewarded for their political support by getting a 5% pay increase for the current school year.
Compared to the producer class, Milwaukee’s teachers are getting a pretty sweet deal. When school is in session, teachers work almost 4 hours less each week than the standard private sector employee does. And instead of getting the usual two weeks off each year, Milwaukee teachers enjoy nearly 14 weeks vacation. All told, the typical producer-class employee works well over 600 hours a year more than the typical government school employee.
You would think with this workload, total compensation for government teachers would be a lot less than for private-sector workers. But when you add salary, retirement and health benefits, a first-year teacher’s total compensation is almost $56 per contracted hour worked. For a fifth-year teacher, it’s over $60 an hour. A tenth year teacher, more than $66 an hour. And teachers can retire sooner, too, at age 57.
If that sounds generous to you, you’re not alone. Producer-class workers earn less than $735 a week. For a typical 40-hour week, that works out to just over $18 an hour.
Of course, there’s a cost to all this generosity. If you’re in the a producer class, you’re working harder than ever to pay for it all. And yet, mobs of government workers have besieged the capital for months, complaining that you’re not working hard enough, that you need to pay even more.
Government employees make up a small sliver of Wisconsin’s workforce, just 14%, and it’s time they stopped pushing the other 86% of us around.
Next time you see government employees demanding that you sacrifice even more for them, remind them that a public servant is supposed to serve the public, not turn the public into their servants.
If All Else Fails, Find What Fails Least!
It should be no surprise that President Obama keeps racking primary wins on his way to the 2012 Democratic Nominee for President. He is, after all, a sitting President.
Though, you wouldn’t know it by looking at recent results in Kentucky, where 42% of the voters chose “uncommitted” over giving clear support for a 2nd Obama term.
Or, in Arkansas, where 41% of voters chose little known John Wolfe over the incumbent.
And, let’s not forget West Virginia where nearly 43 percent of Democratic primary voters opted for Keith Judd, a convicted felon currently serving time in a Texas federal prison.
While not Democratic strongholds, the results in KY, AR, and WV are depictive of the number one problem President Obama faces in the 2012 election, energizing his base.
His recent evolution on the gay marriage issue locked up the LGBT vote, and the far-left zealots of the newly re-organized Occupy Wall Street crowd are a definite in Obama’s corner (though they’ll mislead you to the contrary). But, the base of the Democratic Party is having second thoughts.
Regardless what’s reported by the Main Stream Media, and despite current polling predictive of an Obama win in November, the Democratic base is not comfortable with his far-left leaning agenda and they question his ability to turn things around in light of perceived mishandling of the economy.
Oh they’ll voice support for Obama when push comes to shove, but will they turn up at the polls? And turnout, notwithstanding everything you’ve heard up to now, is what will decide the 2012 election.
Read all HERE.
Must piss off this man/woman thing that she was again caught in lies.
Last night, MSNBC’s Rachel Maddow attributed statements to Mitt Romney that he did not make.
In a segment pegged, ironically, to White House criticism of the Washington press corps, Maddow attempted to rise to the White House’s challenge by calling out Romney for holding President Obama to a higher standard on the unemployment rate than he did himself.
Maddow first ran footage of Romney’s interview with Time Magazine’s Mark Halperin yesterday, in which the former governor of Massachussets said that over a period of four years his administration could get the unemployment rate “down to 6 percent, or maybe lower.” She then ran footage from a May 4 speech in which Romney, dismissing celebration of an 8.1 percent unemployment rate, said “anything over 8 percent, anything near 8 percent, anything over 4 percent is not cause for celebration.”
Paraphrasing Romney’s remarks from the May 4 speech, Maddow then said: “Sure, President Obama has brought unemployment down, but anything over 4 percent is an Obama failure.”
Then, speaking for herself, Maddow said: “Mitt Romney says anything over 4 percent is a failure of the Obama administration, then two-and-a-half weeks later says his own goal is 6 percent unemployment.”
That is incorrect — which is to say, false. Mitt Romney did not say that unemployment over 4 percent is a failure of the Obama administration. He said it was not cause for celebration. Furthermore, in his interview with Halperin, Romney did not say that his own goal of 6 percent unemployment would be cause for celebration either. He merely said that that was his own goal. Maddow is simply tying together two different statements to create and attribute a statement that was never actually made.
The irony is that Maddow pegged her criticism of Romney to White House spokesman Jay Carney’s own criticism of the Washington press corps.
New Panthers are RIGHT-WING radicals?? hahahahhaha
The last decade has seen major changes in the American radical right. What was once a world largely dominated by a few relatively well-organized groups has become a scene populated by large numbers of smaller, weaker groups, with only a handful led by the kind of charismatic chieftains that characterized the 1990s. At the same time, there has been explosive growth in several sectors of the radical right, especially in the last few years, much of it driven by anger over the diminishing white majority (the Census Bureau has predicted that non-Hispanic whites will fall to less than 50% of the population by 2050) and the severe dislocations caused by a still-ailing economy. An anti-Muslim movement, almost entirely ginned up by political opportunists and hard-line Islamophobes, has grown enormously since taking off in 2010, when reported anti-Muslim hate crimes went up by 50%. During the same time frame, a number of religious-right anti-gay groups, enraged and on the defensive as swelling majorities of Americans drop their opposition to same-sex marriage and other LGBT rights, have grown extraordinarily vicious in their propaganda. Most dramatically, so-called “Patriot” groups — which, unlike most hate groups, see the federal government as their primary enemy — have grown explosively in just the last three years, going from 149 groups in 2008 to 1,274 last year. As a result of all these developments and others, a new crop of leaders has come to the fore. Some are longtime activists of the radical right, but others have become active only in recent years. What follows is an alphabetized series of short profiles of key men and women activists of the radical right — 30 to watch. [...]
Malik Zulu Shabazz
Date of Birth: 1966
Groups: New Black Panther Party
Location: Washington, D.C.
Ideology: Black Separatist
Although he’s sometimes identified in the mainstream media as a mere “legal adviser” or “community organizer,” Malik Shabazz is a racist black nationalist with a long, well-documented history of violently anti-Semitic remarks and accusations about the inherent evil of white people. He is also particularly skilled at orchestrating provocative protests. Ousted from the Nation of Islam after he became an embarrassment even to that hard-line group, Shabazz went on to take up the leadership of the New Black Panther Party.
ACORN Offshoot Sues State For Not Registering Voters On Welfare I look at it this way. If you are in prison, you don’t get to vote. Welfare is just a prison without walls, so welfare recipients should not vote!
This is plain dumbass stupid! If you have a dick, use the mens room. Don’t have a dick, use the womens room. This lawsuit should have been thrown out!
Lie of the Day: Progressives Pretend Obama Isn’t a Big Spender
It made the rounds on the blogosphere. It got fact-checked by Politico. White House spokesman Jay Carney cited it. It’s the latest left-wing talking point that President Obama has actually put a slow to the growth of government spending.
And it’s completely false.
Read it all and see the graphic HERE.