According to Wikipedia (yes, consider the source)…. here is the definition of Stagflation:

In economics, stagflation is a situation in which the inflation rate is high and the economic growth rate slows down and unemployment remains steadily high.

Well, under Barack Obama’s economic policies passed by the Democrat-controlled Congress from 2009-10…. we at least have two of those three.  And inflation is higher than most of us have been used to since at least the 1990s.

Bob Krumm says the USA is now Stag-Nation.

This is what a stagnant economy looks like.  The gain of 115,000 jobs is less than enough to keep up with population increases, and was below the median economic forecast for April.  The only reason that the unemployment rate “fell” to 8.1% is because the labor force participation rate keeps dropping.  If you stop looking for work, you aren’t unemployed.  But you’re not employed either.  You’re just “missing.”  You don’t count.

Welcome to the country we now live in:  the Stag-Nation.

And this from the bloggers at ZeroHedge:

It is just getting sad now. In April the number of people not in the labor force rose by a whopping 522,000 from 87,897,000 to
88,419,000.  This is the highest on record. The flip side, and the reason why the unemployment dropped to 8.1% is that the labor force participation rate just dipped to a new 30 year low of 64.3%.

GP Ed Note: My post yesterday about the “invisible 86 Million” is now dramatically out of date…

Here are the official FedGov numbers:

Nonfarm payroll employment rose by 115,000 in April, and the unemployment rate was little changed at 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, retail trade, and health care, but declined in transportation and warehousing.

Household Survey Data

Both the number of unemployed persons (12.5 million) and the unemployment rate (8.1 percent) changed little in April.

Among the major worker groups, the unemployment rates for adult men (7.5 percent), adult women (7.4 percent), teenagers (24.9 percent), whites (7.4 percent), and Hispanics (10.3 percent) showed little or no change in April, while the rate for blacks (13.0 percent) declined over the month. The jobless rate for Asians was 5.2 percent in April (not seasonally adjusted), little changed from a year earlier.

The number of long-term unemployed (those jobless for 27 weeks and over) was little changed at 5.1 million in April. These individuals made up 41.3 percent of the unemployed. Over the year, the number of long-term unemployedhas fallen by 759,000.

The civilian labor force participation rate declined in April to 63.6 percent, while the employment-population ratio, at 58.4 percent, changed little.

Whether Obama & his team studied Martian or Marxist Applied Economics, one thing is clear: They didn’t learn any lessons from the unprecedented US economic expansion that resulted in the 1981-83 economic policies pushed through a Democrat Congress by Ronald Reagan.

-Bruce (GayPatriot)

As Glenn Reynolds has said….and I reiterate on Twitter…. UNEXPECTEDLY!!!!!!

NEW YORK (CNNMoney) — There are far more jobless people in the United States than you might think.

While it’s true that the unemployment rate is falling, that doesn’t include the millions of nonworking adults who aren’t even looking for a job anymore. And hiring isn’t strong enough to keep up with population growth.

As a result, the labor force is now at its smallest size since the 1980s when compared to the broader working age population.

“We’ve been getting some job growth and it’s been significant, but it hasn’t yet been strong enough that you start to get people re-engaging in the labor market,” said Keith Hall, a senior research fellow at the Mercatus Center and former commissioner of the Bureau of Labor Statistics.

A person is counted as part of the labor force if they have a job or have looked for one in the last four weeks. Only about 64% of Americans over the age of 16 currently fall into that category, according to the Labor Department. That’s the lowest labor force participation rate since 1984.

It’s a worrisome sign for the economy and partly explains why the unemployment rate has been falling recently. Only people looking for work are considered officially unemployed.

Yesterday I noted, also on Twitter (so you may want to follow me!), that I’ve come to conclude Obama & his economic team must have studied “Applied Theories in Martian Economics” rather than understand what truly drives human economic activity.  It isn’t rocket science, but The Most Brilliant President Evah somehow has missed the boat.  Class warfare does not employment make.

Kudos to CNN Money for addressing the Elephant In The Room that most of the rest of the MSM has ignored to this point.

-Bruce (GayPatriot)

Via The Hill:

Rep. Barney Frank (D-Mass.) will announce Monday that he is not seeking re-election, ending a 32-year career in the House.

Frank, 71, is the top Democrat on the Financial Services Committee and the architect, with former Sen. Chris Dodd (D-Conn.), of the sweeping Wall Street regulatory reform law enacted in 2010.

He is scheduled to hold a press conference at 1 p.m. in his district, according to a spokesman, who said the congressman would announce at that time the reason for his decision, Rep. Barney Frank (D-Mass.) will announce Monday that he is not seeking re-election, ending a 32-year career in the House.

Frank, 71, is the top Democrat on the Financial Services Committee and the architect, with former Sen. Chris Dodd (D-Conn.), of the sweeping Wall Street regulatory reform law enacted in 2010.

He is scheduled to hold a press conference at 1 p.m. in his district, according to a spokesman, who said the congressman would announce at that time the reason for his decision.

Hopefully his next stop will be prison for the economic crimes he has committed against the United States of America.

-Bruce (GayPatriot)

When our President is beholden to union special interests and a failed Keynesian economic dogma, most of us could have  did predict his “recovery” plans would have been a complete FAIL.

From Ed Morrissey at HotAir.com:

When running for President, Barack Obama decried the decline of American household income, which certainly dropped during the 2007-2009 Great Recession.  Since the recovery began in June 2009 — a recovery for which Obama has repeatedly claimed credit — that trend has gotten worse, not better.  A new report shows that the percentage of decline in household income during the so-called recovery actually doubled that of the recession:

During the recession, which economists say lasted from Dec. 2007 to June 2009, the median annual household income fell by 3.2 percent, from $55,309 to $53,518, according to a report authored by two former U.S. Census Bureau officials. But in the post-recession period from June 2009 to June 2011, the figure fell by 6.7 percent, from $53,518 in June 2009 to $49,909 in June 2011. …

The study found that during the post-recessionary period, families with just a male or female head with no spouse present saw a 7.3 percent decline in income compared to the 4.5 percent drop for married-couple households. Income for households with a head under the age of 25 fell by 9.5 percent, significantly more than the 5.5 percent decline for households with a head who is 45 to 54 years old.

Again, I repeat: Our President Spent $787 Billion Dollars Of Our Money And We Got Was This Lousy 9.1% Unemployment Rate (Forever…)

-Bruce (GayPatriot)

Common sense solutions from my candidate for President….

Herman Cain in Wall Street Journal: “My Plan to Revive Economic Growth”
Published: Thursday, September 15, 2011

Last week, President Obama unveiled his eagerly anticipated jobs plan. After 43 minutes of his speechifying, Americans were left wondering: We waited 30 months for this?
Indeed, it seems Mr. Obama’s first term has been spent advancing a legislative agenda that pays no mind to our ailing economy and the Americans whose sufferings are casualties in his ideological war. After a failed stimulus package, preferential industry bailouts, and the disastrous government overhaul of the health-care industry, it seems the plight of the American worker has remained an afterthought.

This is the worst jobs recovery since the Great Depression. If the Obama administration’s aim was to merely tie for last place with the previous worst recovery, it would have created eight million more jobs, based on comparative data from the Bureau of Labor Statistics. If our recovery were more typical of the postwar era, as former Sen. Phil Gramm reported on this page in April, we would have 14 million more jobs today.

As a longtime leader in the business community, I know firsthand that government does not create jobs. It can only create the conditions in which businesses operate. These conditions can spur growth, or they can suppress it. The conditions imposed by the current administration have suppressed growth.

Still, there is hope. That hope begins with economic certainty, a sort of assurance the president seems unwilling to provide. I, on the other hand, have proposed a plan that would stabilize and grow our economy:

“Cain’s Vision for Economic Growth,” also known as the 9-9-9 Plan, is founded upon three guiding economic principles: Production drives the economy. Risk-taking creates growth. Units of measurement must be dependable.

The plan begins with restructuring the tax code to include the broadest possible base at the lowest possible rate. The elements are:

• A 9% corporate flat tax. Businesses would deduct purchases from other businesses and all capital investment. The resulting gross income is taxed at 9%.

• A 9% personal flat tax. Individuals would deduct charitable contributions, then pay 9% on the rest of their income. Capital gains are excluded.

• A 9% national sales tax. This levy would be placed on the consumption of all new goods. Used goods purchased would be excluded.

My plan would also permanently eliminate taxes on repatriated profits, as well as payroll taxes and the estate tax.

All of these measures would free up capital, spur production, and incentivize risk-taking, thereby fueling the economy and creating jobs. The plan has been designed to be revenue neutral initially, and then revenues would grow in line with the economy.

But these policies must be coupled with sound money. A dollar must be worth the same tomorrow as it is today. Stabilizing the dollar’s value starts with the federal government taking significant measures to rein in its spending and pay down the national debt. Americans must be assured that the federal government will live within its means and get serious about eliminating our crippling debt. Repealing ObamaCare, Sarbanes-Oxley and the Dodd-Frank bank-regulation bill would be critical steps.

Finally, my plan promotes enterprise zones, also known as “empowerment zones.” Coupled with tax reform and monetary stabilization, empowerment zones would revitalize inner cities by providing tax credits to businesses that hire workers living and working in underprivileged areas.

Some of the most tragic unemployment numbers can be found in minority communities and in urban centers around the country. Empowerment zones would create a whole new generation of wage-earners providing for their families. The late Jack Kemp, a secretary of the department of Housing and Urban Development and a dear friend, was one of the first lawmakers to propose empowerment zones. He understood the tremendous economic benefits they would provide.

Each job lost today is not merely a statistic. Americans are struggling to determine whether to pay their mortgages or buy groceries, whether to buy school uniforms or pay the electric bill.

Such despair is unfitting for the greatest nation the world has ever known. After all, it is inherently American to work, to risk and to dream. Our government’s policies should encourage that, not stifle it.

Mr. Cain, a Republican, is running for president of the United States. He is a former chairman and CEO of Godfather’s Pizza and a former chairman of the board of directors to the Federal Reserve Bank of Kansas City.

I am proud this morning to announce my support for Herman Cain for President.

This is a personal decision by me and does not reflect the views of my co-bloggers nor should be construed as an official endorsement by GOPROUD of which I am a board member.

Now that I’m done with that disclaimer….let me shout this from sea to shining sea — AMERICA NEEDS HERMAN CAIN!!!! I have been flirting with the Cain candidacy for over a year now. I had the pleasure to meet him at CPAC and I have been closely following his campaign long before most people knew his name.

I felt it was important to declare my preference publicly today as I have decided to become actively involved in Team Cain to assist in the South Carolina primary and beyond. I owe my readers the transparency of knowing why I am writing about certain things and not to be confused by my intent.

Why Herman Cain? Well, haven’t been this excited about a Presidential candidate since Ronald Reagan in 1984 (the first year I was old enough to truly know anything and make a difference).

Some will now say, “now Bruce….there will never be another Ronald Reagan!” And that is true. And I am NOT equating Mr. Cain to Mr. Reagan. What I am saying is that Mr. Cain excites me with his common sense ideas, love of country, and ability to connect to the American psyche. Choosing a President has always been a “gut feeling” thing for America. I have a great feeling about Herman Cain.

Herman Cain has been plucked by destiny to arrive at America’s electoral doorstep at just the right time. He has a solid business background, is an inspirational leader of people, and understands the complexities of the world economy. He wasn’t a community organizer, he is a jobs and growth creator. He wasn’t a concocted creation of America’s radical left and academic centers of power, he is a true child of the American Experience. He has never scoffed at American values, he embraces our nation’s special place in the history of mankind and knows we are teetering on the edge.

Mr. Cain is familiar with rescuing failing enterprises, which to me is his most important qualification. In a sheer coincidence to the timing of my announcement, Daniel Henninger wrote this yesterday in the Wall Street Journal:

Does a résumé like Herman Cain’s add up to an American presidency? I used to think not. But after watching the American Idol system we’ve fallen into for discovering a president—with opinion polls, tongue slips and media caprice deciding front-runners and even presidents—I’m rewriting my presidential-selection software. [Emphasis added.]

Conventional wisdom holds that this week’s Chris Christie boomlet means the GOP is desperate for a savior. The reality is that, at some point, Republicans will have to start drilling deeper on their own into the candidates they’ve got.

Put it this way: The GOP nominee is running against the incumbent president. Unlike the incumbent, Herman Cain has at least twice identified the causes of a large failing enterprise, designed goals, achieved them, and by all accounts inspired the people he was supposed to lead. Not least, Mr. Cain’s life experience suggests that, unlike the incumbent, he will adjust his ideas to reality.

No other GOP candidate can bring the fight to Obama over the sorry state of the American economy than Herman Cain. Our other choices are, I’m sad to say, more of the same old thing — career professional politicians. Yes, even Ron Paul, folks.

So there you have it. My big announcement. Herman Cain is the first Presidential candidate I will actively and ENTHUSIASTICALLY campaign for through blood, sweat, money & tears since Ronald Reagan in 1984. That’s a long time of being unmoved by GOP nominees, don’t you think?

There will be more to say about Herman Cain and the issues. But I wanted to stand up today and proudly declare my support for the 45th President of the United States of America and the next true heir of the American Experience — Mr. Herman Cain.

-Bruce (GayPatriot)

Via James Pethokoukis at Reuters.com:

From Goldman Sachs today: We have lowered our forecast for US real GDP growth further and now expect real GDP to grow just 2%-2½% through the end of 2012. Our forecast for annual average GDP growth has fallen to 1.7% in 2011 (from 1.8%) and to 2.1% in 2012 (from 3.0%). Since this pace is slightly below the US economy’s potential, we now expect the unemployment rate to be at 9¼% by the end of 2012, slightly above the current level.

2. Even our new forecast is subject to meaningful downside risk. We now see a one-in-three risk of renewed recession, mostly concentrated in the next 6-9 months. There are three specific issues that concern us. First, a worsening of the European financial crisis, and a failure of European policymakers to respond adequately, could lead to a further tightening of financial conditions and credit availability, which would worsen the economic outlook globally. Second, our forecast assumes that the payroll tax cut—currently scheduled to expire at the end of 2011—is extended for another year, but if that failed to happen the fiscal drag in early 2012 would increase significantly. Third, increases in the US unemployment rate have historically had a tendency to feed on themselves, and this could happen again.

Pethokoukis makes this comparison to the 1980 & 1984 elections:

The consensus used to be that President Obama might be OK if the jobless rate fell below 8 percent by Election Day.  That seems increasingly unlikely. The economy is, at best, in slow-growth mode, just churning and churning, creating few jobs.  Comparisons to President Reagan’s 1984 “Morning in America” campaign are looking ever-more ridiculous.  Under Reagan’s tax-cut driven recovery, unemployment fell from 10.8 percent in December 1982 to 7.2 percent by Election Day as the economy grew 4.5 percent in 1983 and 7.2 percent in 1984. In fact,  Jimmy Carter’s 1980 campaign might be the better comparison. The unemployment rate jumped from 6.0 percent in December 1979 to 7.5 percent on Election Day 1980 as the economy shrank 0.3 percent.

All I know is that outside of the 4% unemployment rate of the DC Beltway, it is more like Mourning In America under the Obama regime.

-Bruce (GayPatriot)

…if that’s what you call this nightmare we are living in. The following stats are provided by Investors Business Daily, but they are courtesy of the Obama Regime:

There are 2 million fewer private-sector jobs now than when Obama was sworn in, and the unemployment rate is 1.5 percentage points higher.

• There are now more long-term unemployed than at any time since the government started keeping records.

• The U.S. dollar is more than 12% weaker.

• The number of Americans on food stamps has climbed 37%.

• The Misery Index (unemployment plus inflation) is up 62%.

• And the national debt is about 40% higher than it was in January 2009.

In fact, reporters who bother to look will discover that Obama has managed to produce the worst recovery on record.

Hope and Change continues to ruin our nation…

-Bruce (GayPatriot)

The Carter record is a litany of despair, of broken promises, of sacred trusts abandoned and forgotten. Eight million — eight million out of work. Inflation running at 18 percent in the first quarter of this year. Black unemployment at 14 percent, higher than any single year since the government began keeping separate statistics. Four straight major deficits run up by Carter and his friends in Congress. The highest interest rates since the Civil War, reaching at times close to 20 percent, lately they’re down to more than 11 percent but now they’ve begun to go up again. Productivity falling for six straight quarters among the most productive people in the world.Through his inflation he has raised taxes on the American people by 30 percent, while their real income has risen only 20 percent. The Lady standing there in the harbor has never betrayed us once. But this Administration in Washington has betrayed the working men and women of this country.
The President promised that he would not increase taxes for the low and middle-income people, the workers of America. Then he imposed on American families the largest single tax increase in our nation’s history. His answer to all this misery? He tries to tell us that we’re “only” in a recession, not a depression, as if definitions, words, relieve our suffering.
Let it show on the record that when the American people cried out for economic help, Jimmy Carter took refuge behind a dictionary. Well if it’s a definition — if it’s a definition he wants, I’ll give him one. A recession is when your neighbor loses his job.  A depression is when you lose yours. And recovery is when Jimmy Carter loses his.

I would point out that there are now over 16 million Americans unemployed, many for the longest duration since WWII.  And African-American unemployment is close to 17%, higher than when Reagan gave this speech.

Substitute “Jimmy Carter” for “Barack Obama” in Reagan’s speech and it still measures up today.  I hope we make it to November 2012 when we can show Obama the definition of true recovery.

-Bruce (GayPatriot)

No longer Bush’s Fault(tm), our man-boy President now blames…. wait for it….. technology instead of his economic policies for our stagnant economy.

President Obama explained to NBC News that the reason companies aren’t hiring is not because of his policies, it’s because the economy is so automated. … “There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and you use an ATM, you don’t go to a bank teller, or you go to the airport and you’re using a kiosk instead of checking in at the gate.”

Oh brother.

-Bruce (GayPatriot)

UPDATE (from Dan):  Is it just me, or did Obama sound whiny when he blamed ATMs.  And wasn’t he supposed to be the hip politician who embraced new technology?  Don’t think this will play well with most Americans, may make him look as out of touch as some president who at least according to an inaccurate report in the New York Times was unfamiliar with a grocery store checkout scanner.

UP-UPDATE (from Bruce):  An ATM has responded to this scurrilous attack from Obama.

I didn’t do it.

President Obama says I’m to blame for high unemployment – part of the “structural” problems with the economy. Yes, he actually said my electronic brethren and I – who dispense cash and make lines move a little more quickly at the airport – are part of the reason 1.5 million fewer Americans have jobs than when the “stimulus” was enacted.

But before the president fingered us as responsible for job losses, he sought to take credit for the sluggish economy.

And even DNC Chairwoman Debbie Wasserman Schultz (D-FL) said this morning that Democrats own the economy. I don’t. I’m just an ATM. I don’t own anything.

Seems that way. (h/t - Instapundit)

John Williams, over at Shadow Stats, compiles economic data for inflation and unemployment the way it used to be calculated pre-1990. Based on that data, the CPI inflation rate is over 10%, and the unemployment rate is over 15% (see charts). The Misery Index is the sum of the current inflation rate and the unemployment rate. If it were to be calculated using the older methods, the Index would now be over 25, a record high. It surpasses the old index high of 21.98, which occurred in June 1980, when Jimmy Carter was president. Most believe the height of the Index along with the Iranian hostage crisis is what caused Carter to lose his re-election bid.

Verrrry interesting. But I still stick to my steak dinner bet with Little Miss Atilla that come Jan 20, 2013 it will be Barack Obama taking the Oath again.

P.S. – Employment rates among African Americans is the worst ever.  They told me if I voted for McCain that there’d be discrimination against minorities from The White House — they were right!

-Bruce (GayPatriot)

Stunned.  NOT!

From HotAir.com:

[T]he economists at e21 take a long look at a new study by Daniel Wilson at the San Francisco Fed on the effect on employment from the Obama administration’s stimulus plan, which indicates that the impact was a lot less than advertised.  Instead of adding two million jobs to the economy, the Fed finds that any new jobs added had disappeared by August of this year.

And from the e21 website….

Wilson’s study makes an important contribution to this debate by focusing on state-by-state comparisons. A large portion of stimulus funding at the state level was based on criteria that were entirely independent of the economic situation that states faced. For example, the number of existing highway miles was used to calculate additional transportation spending.

The study uses this resulting variation in state-level stimulus funding to determine what impact ARRA funding had on employment — including both the direct impact of workers hired to complete planned projects, as well as any broader spillover effects resulting from greater government spending. Administration economists have repeatedly emphasized the importance of this indirect employment growth in driving economic recovery.

The results suggest that though the program did result in 2 million jobs “created or saved” by March 2010, net job creation was statistically indistinguishable from zero by August of this year. Taken at face value, this would suggest that the stimulus program (with an overall cost of $814 billion) worked only to generate temporary jobs at a cost of over $400,000 per worker. Even if the stimulus had in fact generated this level of employment as a durable outcome, it would still have been an extremely expensive way to generate employment.

But we all knew this already didn’t we?  Read the whole thing!

-Bruce (GayPatriot)

I put together this information back in July of this year:

November 2008 (President George W. Bush)
Total Unemployed: 10.3 MILLION
Unemployment Rate: 6.7%

Obama Inaugurated – Jan 20, 2009
Total Unemployed: 11.1 MILLION

$787 Billion “Stimulus Package” – Passed Feb 2009
Total Unemployed: 12.5 MILLION

JULY 1, 2009
Total Unemployed: 14.5 MILLION
Unemployment Rate: 9.4%

November 2009 – “I will not rest until all Americans who want work can find work,” President Obama
Total Unemployed: 15.4 MILLION

January, 2010
Total Unemployed: 14.8 MILLION
Unemployment Rate:  9.7%

Healthcare Reform Signed Into Law – March 2010
Unemployment Rate:  9.7%
Total Unemployed: 15 MILLION

JULY 1, 2010
Total Unemployed: 14.6 MILLION
Unemployment Rate:  9.5%

Let’s add today’s update, shall we….

DECEMBER 3, 2010 – 22 MONTHS SINCE OBAMA BECAME PRESIDENT
Total Unemployed: 15.1 MILLION
Unemployment Rate:  9.8%

This is your country on Obamanomics.  Any questions?

-Bruce (GayPatriot)

Love it, love it, love it.

(Washington, D.C.) – Today, GOProud, the only national organization representing gay conservatives and their allies, announced they were expanding their television advertising buy against Barney Frank (D-MA). The ad, entitled “The Real Democrats of Washington, D.C.,” will now air district wide on Bravo and Lifetime through Election Day. “The response to this ad has been overwhelming,” said Jimmy LaSalvia, Executive Director. “We know this ad is resonating and we are expanding the buy to help make sure voters know what an embarrassment Barney Frank is.”

The ad began airing in district on Monday of this week on Lifetime and Bravo in the Boston market. GOProud’s latest buy will now include the entire district, including portions in the southern part of the district covered by the Providence market, and the ad will now run through next Tuesday. “GOProud is committed to saving the jobs of millions of Americans, including gay and lesbian Americans, by firing Barney Frank – the man the responsible for the financial meltdown that devastated our economy,” concluded LaSalvia.

Here’s the ad.

And here’s a CNN report last week about the GOPROUD ad when it first hit the airwaves.

DONATE to GOProud — because even gay Democrats are destroying this nation one at a time. 

-Bruce (GayPatriot)

This is the single most effective and chilling campaign ad I’ve seen in quite some time.

-Bruce (GayPatriot)

Hopeandchange, folks…. Hopeandchange.

This is the whole that Obama Democrats’ One Trillion Stimulus has dug for our nation and our future generations. Not even a short-term gain for the pain. Just pain all around. Pathetic.

How’s is this NOT a Depression, again? Remind me, please.

-Bruce (GayPatriot)

7.6 Million jobs are not here.  Where are they?  Ask President Obama.

Total employment in the United States economy now stands at 130.2 million. This is 7.6 million jobs short of where the President promised the economy would be by December 2010 if Congress adopted his economic policies. 9.6% unemployment. A 7.6 million jobs gap. Unemployment is actually higher now than when the recession ended in June. If this is not the definition of failure, then what is?

Ask Conn Carroll (no relation) from the Heritage Foundation asks, “when will Obama Administration admit that their economic policies have been a complete failure?”

Remember, the $816 BILLION stimulus was supposed to keep unemployment at 8.5%.  No higher.  They promised.  They said if Congress DIDN’T pass the Stimulus, things would get much worse.  They were both right and wrong.  Congress passed the Stimulus and now things have gotten much worse.  Quite the pickle for “the most brilliant” President evah, wouldn’t you say?

By contrast, when the 1980s recession ended in December 1982, unemployment stood at 10.8%. Fifteen months into President Ronald Reagan’s economic recovery, and unemployment had already fallen three full points to 7.8%. Why was the Reagan recovery such a success? And why is the Obama recovery such a failure? Well, for starters, President Reagan did not saddle our children with a brand new $1 trillion entitlement. But more urgently, President Reagan also did not threaten the U.S. economy with the largest tax hike in American history.

There still is time for Congress to act to prevent the Obama tax hikes. Tax hikes that include higher rates on individual income, capital gains and dividends. No Americans will escape the damage from the Obama tax hikes including: 1) Destroying an average of 693,000 jobs every year through 2020; 2) Draining $726 billion from disposable income, $38 billion from personal savings and $33 billion from business investments; 3) costing the average non-farm small-business owner $3,500 more in taxes, and much, much more.

This seems a good time to re-pimp the upcoming movie “I Want Your Money” which opens on October 15.

-Bruce (GayPatriot)

Help Mick Mulvaney GET RID of John Spratt and Nancy Pelosi.  DONATE NOW!

-Bruce (GayPatriot)

Damnnnnnnnnn.  I’m not sure King Barack I has ever been dressed down like this since maybe prep school in Indonesia.

Damnnnnnnnnn!  Too bad the video doesn’t show how he answered.  My guess is that it went something like this… “well, uhhhhhhh…..aaaaaand…. I inherited this mess….uhhhhhhhh…. hope and change…. aaaaaaaaand….. uhhhhhh…. Republicans are evil.”

I know, I know… the lady must be racist.

-Bruce (GayPatriot)