Thursday, March 17, 2011

Barack Obama - #2727 - Obama's First 2 Years a Disaster for America - American Thinker (2) Housing Starts See Biggest Drop Since 1984 - Yahoo Finance (3) Wholesale Prices Up 1.6% on Steep Rise in Food - Yahoo Finance

Recall the euphoria that surrounded Barack Obama during the 2008 election season and after he was inaugurated as the 44th President of the United States. Life was going to be blue skies and rainbows, or at least we were told, with hope and change on the way. The American people would be better off and so would our nation with Obama in control. After a little more than two years as the President, those blue skies have turned gray with not the slightest hint of a rainbow......As of March 14, the average price of regular unleaded gasoline was $3.57/gallon. When Obama took office in January 2009, the price was $1.81/gallon. That represents more than a 90% increase in just over two years. To put that in perspective, assume you have a 40 mile round trip commute to work, your car gets 20 miles per gallon and that prices remain the same going forward. Relative to January 2009, you are paying about $18 more per week and about $72 more per month at the pump. Read more......
Housing Starts See Biggest Drop Since 1984 - Yahoo Finance -  Housing starts posted their biggest decline in 27 years in February while building permits dropped to their lowest level on record, suggesting the beleaguered real estate sector has yet to rebound from its deepest slump in modern history.  Groundbreaking on new construction dropped 22.5 percent last month to an annual rate of 479,000 units, according to Commerce Department data released on Wednesday. This was just above a record low set in April 2009 and way below the estimates of economists, who had been looking for a smaller drop to 570,000.  Read more........
Wholesale Prices Up 1.6% on Steep Rise in Food - Yahoo Finance - Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.  The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February -- double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.  Food prices soared 3.9 percent last month, the biggest gain since November 1974. Most of that increase was due to a sharp rise in vegetable costs, which increased nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose.  Energy prices rose 3.3 percent last month, led by a 3.7 percent increase in gasoline costs.  Read more.........

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