Video: T-Paw discusses his Economic Plan on Kudlow

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Video: T-Paw discusses his Economic Plan on Kudlow, posted with vodpod
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June 7, 2011. Tags: , , , , , , , , , . Economy, Finance, Foreclosures, Healthcare, Housing, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

Video: Paul Ryan unveils budget ~ Gen X is ready to take some pain, are you?

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Rep Ryan on Squawk Box this morning discussing his budget.

Gen X will be the first to hit the new Medicare Premium Assistance Program in 2022.

We always knew it would be us. At this point I am GLAD it is us. The Boomers don’t have the fortitude of their parents and all they do is consume.

Only the Thirteenth Generation aka Gen X, is prepared to sacrifice.

After all, we are used to it. We expected it. Hell, we have been waiting for the other shoe to drop on us since our first experience following Boomers, the Carter years, and then the pain of Volcker slaying inflation during Reagan’s recession. And don’t forget the FICA tax increase we got to pay for Boomers’ retirement, the $$ that is now-gone and which we will have to pay, again.

Fact is, we are a small enough generational cohort that the pols feel comfy shafting us, always have, always will.

Heaven forfend someone should ask the frakkin Boomers to share the pain. They still think they are God’s gift to the world.

So instead of righting the ship immediately, which we could do if the Boomers would give something up, we in Gen X will take the first hit.

So here we are, stepping up, ready to share the burden.

FIX IT NOW. CUT NOW. WE ARE READY.

We are the Eeyores of the current populace and we have always been ready to get the shaft, at least let us do it now so we feel we contributed something meaningful while we got screwed…

and PS-Thank you Rep. Ryan!

Andrew Stiles breaks out some numbers on NRO:

$6.2 trillion — Amount of spending cuts proposed relative to President Obama’s 2012 budget request.

$5.8 trillion — Amount of spending cuts proposed relative to the current CBO baseline.

2008 — Ryan’s plan would bring non-security discretionary spending to below 2008 levels (pre-stimulus, pre-bailout, pre-Obama).

20 percent — Target spending levels (as a percentage of GDP).

$4.4 trillion — Total deficit reduction over 10 years called for under the plan, compared to $4 trillion under Bowles-Simpson and just $1.1 trillion under Obama’s 2012 budget.

$4.7 trillion — Total debt reduction relative to Obama’s budget.

$178 billion — Amount of saving achieved in the Defense Department budget, per the recommendations of Defense Secretary Robert Gates, $100 billion of which would be reinvested, the rest used to reduce the deficit.

$750 billion — Total savings achieved through Medicaid reform, in the form of block grants to states, giving governors greater flexibility in their budgets.

2022 — Year that proposed Medicare reforms would take effect.

25 percent — The top tax rate proposed for both individuals and companies.

18-19 percent — Target revenue levels (as a percentage of GDP), in keeping with historic average levels.

$800 billion — Total amount of tax increases eliminated by repealing Obamacare.

1 million — Private-sector jobs created over the next year.

4 percent — Projected unemployment rate by 2015.

$1.5 trillion — Projected growth in real GDP over the next decade.

$1.1 trillion — Estimate increase in wages over 10 years, yielding an average increase in income of $1,000 per year for each American family.

10 percent — Proposed reduction to the federal workforce over the next three years.

$120 trillion — Total debt reduction by 2050 relative to Obama’s budget.

Update: Oh here we go, Boomers whining about not having enough to live in style in retirement. Cry me a frakkin river dudes, you spent it all and THEN some (and once again Gen X, following your shenanigans, got the 1st 10 yr run with no $$ in stocks) but dont worry your Berbanke is printing just as fast as he can so you can continue to take cruises every spring (until stagflation catches up to us).

Your idiotic brain trust picked out Obama to be POTUS! There are no more resources for you to consume! Jeebus, get a grip!

The 77 million-strong generation born between 1946 and 1964 has clung tenaciously to its youth. Now, boomers are getting nervous about retirement. Only 11 percent say they are strongly convinced they will be able to live in comfort.

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April 5, 2011. Tags: , , , , , , , , , . Economy, Finance, Healthcare, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

Obama to rule out any compromise for extension of Bush tax cuts on top 2% Wednesday…

Another one for the files..the NYT lede: “President Obama on Wednesday will rule out any compromise that would extend the Bush-era tax cuts for the wealthy beyond this year…”

This is as we predicted, but just today the delusional or willfully blind floor traders at NYSE told Bob Pisani they expected the Bush Tax cuts for the top 2% to be extended.

They (market watchers) have claimed this crippling maneuver is ‘priced in’ to the markets while simultaneously every talking head on CNBC has been saying ‘no way will they let those expire! that would be crazy!” for months.

Yet here we are, as predicted. Obama and Pelosi would never, ever let those tax cuts get extended come hell or high water (or low water mark for the GDP whatever the case may be).

So tomorrow we will see if the expiration was indeed priced in or if the markets realize just who Obama is, finally, and tank in response.

And the really great news is Obama is going to GET partisan in his speech, like he hasn’t already? NYT in same piece linked above says he will talk tough on the differences b/w GOP and Dems. Oh brother. More Spike Lee Malcolm X dialogue mayhap? Ditches? Bamboozlement?

Well, I don’t hate the rich. I recognize they hire people and create jobs. I think the geniuses at the WH who designed this plan STILL do NOT GET the American people. We don’t want to fight the rich, we want them to hire us! So we can save and invest and help our kids get farther than we did. American Way, American Dream , get it?? Sheesh.

September 7, 2010. Tags: , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics. 1 comment.

Rick Santelli on GSE Reform

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h/t PK4 on ZH: Rick-

“we need a new amendment that gives every American a house, a car with or without fins, 4-5 weeks of vacation with every Monday off …since government knows better than any other enterprise …and we have years of documented evidence to prove it (paraphrased from earlier today).He also stated that big funds will tell the government that if you don’t guarantee them (GSE debt) that they will dump’em. Bottom line. “GSE’s will cost more than any other bailout …and they haven’t even slowed down.”

Rick Santelli on GSE Reform , posted with vodpod

August 17, 2010. Tags: , , , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

Rick Santelli ~ Fed and Treasury have no business pumping up housing at expense of taxpayers

Vodpod videos no longer available. Courtesy of CNBC ~

Airtime: Fri. Aug. 13 2010  8:00 AM ET

Steven Ricchiuto, of Mizuho Securities USA, and Thomas Higgins, of Payden & Rygel, debate whether the Fed should back away from the economy.

Rick Santelli ~ Fed and Treasury have no busine…, posted with vodpod

August 13, 2010. Tags: , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. 2 comments.

Meg Whitman still way ahead of Poizner in Cali Gov primary race…

Another one who may not be as red as the right may like, but who can beat the Dem. And Jerry Brown needs to be beaten like a rug on a clothesline.

Even Axelrasputin has embraced Rahm’s policy of recruiting conservaDems to try and hold seats, the GOP needs to win the battle so we can fight the war and restore the economy from 2010 to 2012, or at least hold the line on the destruction the Democratic spending tsunami has wrought.

CQ Political Wire:

A new Public Policy Polling survey in California shows Meg Whitman (R) with a big lead over over Steve Poizner (R) in the Republican primary for governor, 51% to 26%.

One poll showed the race tightening a couple weeks ago, but it appears to have been an outlier.

May 25, 2010. Tags: , , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

Market Mover Friday: Thar’s jobs in them thar hills! 231k private sector jobs added, UE rate climbs to 9.9%…

Update: 10:03am EST- Uhh, the DOW is starting to drop rapidly like yesterday, now down 89.62….

yay jobs! as predicted the UE rate is climbing back up as jobs are added. We ‘discouraged’ workers are encouraged by jobs being added and are coming back to the work force looking for employment!

It’s hard to keep a good economy down. Now if only Team Obama would take a vacation or something :0) We would be firing on all cylinders if they weren’t spending like money was going out of style in D.C.

Traders anxiously watching sell orders.

CNBC:

…Employers added 290,000 jobs in April, the Labor Department said on Friday, far more than analysts had expected. The department also revised figures for February and March to show 121,000 more jobs were added than previously thought.

The unemployment rate, however, rose to 9.9 percent as discouraged workers re-entered the labor force to look for work….

…Private sector employment increased 231,000, also the largest gain since March 2006, after rising 174,000 in March. Private payrolls have now grown for four months. Census hiring contributed 66,000 jobs.

Analysts had expected private employment to rise between 50,000 and 100,000 in April….

May 7, 2010. Tags: , , , , , . Economy, Finance, Labor Department, Obama Administration, Politics, Unemployment Statistics, Wall St. 1 comment.

Referendum on Puerto Rican statehood moves forward…

(more…)

April 29, 2010. Tags: , , , , , . Immigration, Politics, Taxes. Comments off.

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