Budget cuts for federal offices

August 18th, 2011

We remember last year when President Obama forced the federal agencies to further cut budgets. This was a small cut of lee than two percent but you would have thought he slashed their entire budget. It has become that time again and the Obama administration sent out the first attempt as they want federal agencies to save money. The White House budget chief Jacob Lew has ordered agency heads to submit spending plans for the upcoming budget at least five percent below the current year levels. Jacob Lew wants them to propose ways to trim a total of at least ten percent of their spending. We have to applaud this as a great start to finding spending cuts and we are pretty sure they are required under the recent debt-ceiling agreement. The agreement reached did create a series of annual spending targets and would save tens of billions of dollars a year. We are not sure this will work as the American Federation of Government Employees, which represents more than 625,000 federal workers and employees of the District of Columbia in opposition they said this will equal job destruction, we would counter by is that such a bad thing. Based on the request federal agencies would need to trim will more than $1 trillion of this year’s $3.8 trillion federal budget. Lew suggests that savings can be found by eliminating unneeded programs and making agencies more efficient. This sounds great and at least the dialog is open.

President Obama has a plan

August 17th, 2011

Here is a great idea if you think everything is going south, plan a vacation to get away. If you think everyone thinks you are a big fail give them a nugget before you go. The last piece is to dangle a carrot for them to talk about while you are away. Did you think this was a CEO, a mayor or governor, your boss, none of the above, it is President Barack Obama. He is about to leave on ten day vacation it does not matter the economy is in the tank. So before he leaves on vacation he tells everyone when he gets back he will announce a broad package of tax cuts, construction work and help for the millions of Americans who have been unemployed for months. Why he has waited for this plan is weird because there might be no plan, or he is writing as his rest and relaxes on the islands. President Obama will unveil his economic strategy in a speech right after Labor Day. He did give us a nugget and the idea that he will want it to happen he will challenge the new super committee in Congress to go well beyond its goal of finding $1.5 trillion in deficit reduction. So the nugget he did not have after all, there is no plan and once again he will aks someone else to make one. Filed under gone fishing.

Healthcare Congress exceeded authority

August 12th, 2011

We know when it comes to Washington and courts, Washington always wins. Today was a good day as we saw a freedom protected. It is scary when the government can mandate you have to do something. President Barack Obama’s signature healthcare law suffered a setback when anUS Appeals Court for the 11th Circuit, based in Atlanta, ruled 2 to 1 that Congress exceeded its authority by requiring Americans to buy coverage, but it unanimously reversed a lower court decision that threw out the entire law. So even though it was a win it was a little hollow because we do not care about the people forced to buy healthcare we care about the people who will be allowed healthcare that cannot afford it forcing the people who do pay to pay more. We fully expect the US Supreme Court will eventually make the call. There is a pretty strong argument that without the mandate, which goes into effect in 2014, the entire law falls. It is not a leap because if you can opt out than you do not have to pay your share, for the people whom cannot pay. President Obama who has never stopped championing the individual mandate as a major accomplishment of his presidency might find it a tough sell for relection. The administration still believes this is a way to try to slow the soaring costs of healthcare while expanding coverage to the more than 30 million Americans without it. The case is moving and because this ruling conflicts with another appeals court ruling that upheld the law, the Supreme Court is expected to take it up during its term that begins in October with a ruling possible just months before the November 2012 presidential election.

President Obama needs a vacation

August 10th, 2011

We know this will not surprise you but, President Obama is still planning to vacation with his family this month on Martha’s Vineyard, in Massachusetts. You would think he might try to stay in Washington since we are dealing with our first in history downgrade in credit rating. Well it is summer time so everyone a little time off with thier family, even in the midst of an economic downturn. Wait for it here it comes it is going to be a working vacation. You know like the one when the oil was spilling in the gulf he could not break himself away. In all fairness we believe there is no such thing as a presidential vacation. Those being said come August 18 if you check the oval office it will say gone fishing. The president is slated to return to Washington by Aug. 28, the day he is scheduled to deliver remarks at the dedication at the Martin Luther King Jr. Memorial. This is not a new location as well as he has been to Martha’s Vineyard the past two Augusts for vacations. Those of course were not times like these and his approval rating was much higher. If there is not enough do nothing democrats in Massachusetts already what can one more hurt.

President Obama never to blame

August 9th, 2011

When will this President ever take blame. For the life of the run to the white House and all the way since, we have heard it as President Bush at fault. When the economy goes in the tank and the Standard & Poor ruling cut our credit rating it is because of the Tea Party. When will the American Obama zombies walk up and see the emperor has no clothes. We would just like for once the guy to take a little blame we are not saying he needs to admit he killed the economy with the stimulus and that shovel ready jobs do not create work for businesses. We do not him expect to take blame for rising healthcare cost because of the healthcare plan he rammed through congress. We cannot expect all this high level meeting with economists to ever change the way the economy is going. What is really getting to us today is the way he can never even talk about it being bad. For months we heard the stock market is a key sign the recession is over, then it feel through the floor so we cannot talk about that anymore. There was once a president who said the buck stops here. He meant congress would not be allowed to just spend; this president has never stopped anything or has shown the toughness to get anything corrected.

Shay Mitchell Pretty Little Hottie Again

August 8th, 2011

This week we highlight a new comer to the countdown. Shannon Ashley “Shay” Mitchell who was born April 10, 1987 in Toronto, Ontario Canada is this week’s recipient. This 21 year old took us by surprise hen she walked the blue carpet at the teen choice awards. If you did not know her she is in a ABC Family show Pretty Little Liars and would not even be considered the top three lovely looking ladies in the cast. On this night she stole the show and deserved the space. Shay was also in Degrassi: The Next Generation and Disney XD series Aaron Stone. She worked in a music video for Sean Paul as well as the series Rookie Blue. Shay has modeled for American Eagle Outfitters but her last job has put her on the map. Shay plays Emily Fields in Pretty Little Liars and the whole cast did attend the awards. She nailed it in this short red look, with long legs and her hair pulled back. When she walked the carpet everyone was watching her go by. The black sexy shoes with her black her made you look her up and down and back again. We are not sure where Pretty Little Liars will go but the cast has some Pretty Awesome looking hotties ands you can aid Shay to the list

S&P needs an IRS audit

August 5th, 2011

Standard and Poors whacks the US government, they have a lot of balls. There would not even be a Standard and Poor if it was not for the US. They downgraded the US from a triple AAA rating to a double A plus but it put the US in a negative status meaning they could drop it again. The bottom line is Treasury Secretary Timothy Geithner should have been ahead of this and must fall on the sword. President Obama has now become a long shot for winning reelection because the country will never forgive him for this one. He could capture every terrorist on the planet but when all your credit cards raise their rates that hits American below the belts. Who is to blame, start at the top as there is plenty to go around. President Obama, congress, the cabinet and really S&P, ewhile everyone was afraid of Moody’s. In 1941, Poor and Standard Statistics merged to become Standard & Poor’s Corp. In 1966, the company was acquired by The McGraw-Hill Companies, and now encompasses the Financial Services division. This is a power play by the S&P top gain recognition over Moody’s and the US has become a pawn in a deadly economic game. The first move President Obama should do is call the IRS to audit everything including top executives at S&P and brings out the hammer. It is simple logic that if the US is not a triple A S&P and all other financial holding in the US are downgraded as well. President Obama must act fast and swift.

Dow drops Tea512

August 4th, 2011

It is very rare that we talk about the markets because other buying and selling stocks, mostly buying, we do not claim to know anything. Today we talk Dow Jones as stocks plunged sharply and the dow finished down 512 points. Being that this is the Tea512 we thought the worst day since December of 2008, we needed to call attention to the number itself. The talking heads were say that all three major averages dropped into negative territory for the year as investors were reacted to the intensifying global economic slowdown and ahead of the widely-followed monthly unemployment report. This means that the major indexes are firmly in negative territory for the year. This is also being called correction territory, defined by a drop of 10 percent. The experts or so called saying this has nothing to do with us but more the tension from Europe. There seems to be a run on the banks which is starting to be a concern and sending a scare through the world markets. We hate to bring attention to these facts but the drop of 512 was noticed by Tea512 and if we had to lose a bundle of money in the stock market, 401K, and IRA at least we were able to get a post out of it.

Debt 100% of GDP first time since WWII

August 3rd, 2011

We expect that now the debt ceiling is debate is over we can see fall out from the drama. The first was a report today that after the ceiling was raised the US debt shot up $238 billion to reach 100 percent of gross domestic project. Just like when a 21 year old get their first credit card the envelope has not hit the floor and they swipe it. The Treasury was borrowing immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt. In case you have been under a rock the new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium. When economists speak of Italy and Belgium and default they talk only as not if but when. In the US the official limit was hiked $400 billion and will be increased in stages over the next 18 months. The facts show that the last time US debt topped the size of its annual economy was in 1947 just after World War II. It was only thirty years ago in 1981 it had fallen to just 32.5 percent.

Debt Deal is passed

August 2nd, 2011

The Senate made it official as the clocked winded down on the default, Congress and the White House on Tuesday gave final approval to a $2.4 trillion debt extension that keeps government borrowing and spending on track. The 74 page bill will be remembered for a long time as it redefines the debt-increase debate forever. It will be a show to see as the next step as congress must constitute the 12-member super committee that will recommend $1.5 trillion in deeper savings by the end of this year. This will be an interesting mix and we feel the members who pushed this legislation through are going to be the one cherry picked for the assignment. The final tally was a 74-26 vote in the Senate, which followed the day before a 269-161 approval in the House. Meant the only thing left was President Obama to sign and take credit as well as complain he did not get enough. Someday this President will write a plan on his own and submit to congress for approval more than likely in his second term when it will not mean he is tied to something costing him a reelection. Take heart your government works the fight, they lie, the trick, but in the end they do get it done. The only question that remains is are the American people better off for it?