Wednesday, October 5, 2011

Barack Obama and the Economy - #3300 - This is Why America is Not Creating Jobs - Redstate (2) September Jobs Cut Announcements Spike 212% - Hot Air (3) Even More Obvious: Opposition to Obama Grows and Solidifies - Hot Air (4) Michelle Obama's Africa Trip Cost More Than $424,142 - US News and Politics

George Stephanoupolos asked Barack Obama about banks and their new fees. Of course, Obama could not accept any responsibility for that at all. And along the way he said something pretty damn amazing.  This:  “You don’t have some inherent right just to– you know, get a certain amount of profit.  Actually, in the free market, on the supply and demand curve, you do have an inherent right to get a certain amount of profit — that certain amount of profit that you derive from your business practices that draw in the maximum amount of profit possible before customers decide you are charging too much or they are not getting value enough to justify their continued business with you.  Barack Obama has spent three years as President punishing those who take risks and taking from those whose risk leads to reward.  In this one quote we see everything wrong with Barack Obama’s world view and how it has broken the American job creation engine.  Read more........

September Job-Cut Announcements Spike 212% - Friday brings us the September unemployment report, but Bloomberg reports on a disturbing indicator this morning. According to one industry analyst, announced job cuts rose 212% from the previous September and hit a two-year high (via Instapundit):  U.S. employers announced the most job cuts in more than two years in September, led by planned reductions at Bank of America Corp. (BAC)and in the military.  Announced firings jumped 212 percent, the largest increase since January 2009, to 115,730 last month from 37,151 in September 2010, according to Chicago-based Challenger, Gray & Christmas Inc. Cuts in government employment, led by the Army’s five-year troop reduction plan, and at Bank of America accounted for almost 70 percent of the announcements.  While the bulk of firings are not “directly related” to economic weakness, they “could definitely be a sign of more cuts to come,” John A. Challenger, chief executive officer of Challenger, Gray & Christmas, said in a statement. “Bank of America is not the only bank still struggling in the wake of the housing collapse, and the military cutbacks are probably just the tip of the iceberg when it comes to federal spending cuts.”  Read more.......

More Obvious: Opposition to Obama Grows and Solidifies - Hot Air - Still no good news for Barack “Underdog” Obama. As Ed reported yesterday, the same Washington Post-ABC News poll that showed Herman Cain rising showed Barack Obama falling — but Cain’s ascendancy obscured the news about the president’s ever-increasing unpopularity.  Not today. Headlines to highlight “hardening” disapproval of the president have popped up all over the place this morning. Drudge ran it in red. Chris Cillizza and Aaron Blake at The Fix made it a top topic. The Hill reported the WaPo-ABC poll as though it were released today.  The point is, the president’s high disapproval rate is indeed crystallizing – and newsies aren’t letting it go unnoticed:  Four in 10 Americans “strongly” disapprove of how the president is handling his job, up from 28 percent at the start of the year. Obama’s disapproval rating has steadily grown since the beginning of the year as the economy has stalled.  Read more.......

Michelle Obama's Africa Trip Cost More Than $424,142 - US News and Politics - First lady Michelle Obama's family trip to South Africa and Botswana in June cost taxpayers well over $424,000, according to new accounting based on Air Force manifests obtained by Judicial Watch, a taxpayer watchdog group. The use of Air Force aircraft alone for the June 21-27 trip cost $424,142, said the group, and that doesn't include the food, lodging, and ground transportation for the 21 family and staff members.  Read more.........

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