Economic News

It is Saturday and I need to report on stuff that is happening and the MSM seems to avoid their inclusion in the daily news reports.

Remember those tax cuts last year and all the promises for the future?  Well here is some news that the GOP does not want the rest of the population to know…..

One of the many things confirmed by the great tax-bill melodrama of 2017 is that Republicans only pretend to care about “fiscal responsibility” when Democrats are in power and tax cuts aren’t on the line. With the opportunity to slash the corporate rate nearly in half, cries of “I won’t endorse a bill that adds one penny to the deficit!” evaporated, and tacking on $1.5 trillion became no big deal. Tax cuts, we will soon be reminded, don’t grow on trees, and the social safety net must be pared back in exchange. For now, though, Republicans are still in the trickle-down honeymoon phase, seeing in every corporate press release more confirmation that America has been made great again. Which makes it somewhat ironic that the Treasury is now burning through its cash reserves at an even more spectacular rate.

the CBO does not agree with the GOP bullshit……

According to the nonpartisan Congressional Budget Office, the federal government will run out of money even sooner than expected, thanks to the new tax legislation, which is estimated to lead to a fall in revenue of $136 billion in 2018. A default on debts had originally been forecasted for late March or early April. But now, because of the new withholding tables, “withheld receipts are expected to be less than the amounts paid in the comparable period last year.” That, combined with the fact that the Treasury generally issues a high number of tax refunds in February and March, means that the $272 billion in cash the Department had on hand as of Tuesday will quickly dwindle. If the debt ceiling isn’t increased by the first half of March, the C.B.O. cautioned on Wednesday, “the government would be unable to pay its obligations fully,” and would be forced to delay payments, default on its debts, or both.

https://www.vanityfair.com/news/2018/02/the-gop-tax-cut-is-draining-the-treasury

Why is it when the GOP does something economic the reserves suffer the worst?  And does no one call them on their bullshit?  Then they are the ones that bitch about the deficit the loudest and instead of responsible spending they want to make up the short fall by screwing the rest of the population?

One more news item and it is one that no one wants to hear…..recession…….

When will the US enter its next recession? Economists surveyed by the Wall Street Journal are predicting 2020. We’re currently in an economic expansion that started in mid-2009—the second-longest in American history—and 59% of the forecasters surveyed think it is most likely to end in two years due to the Federal Reserve raising interest rates. Another 22% predicted 2021; smaller groups predicted 2019, 2022, or an unspecified date beyond that.

Recessions are difficult to predict, but one economist who took part in the survey says signs are emerging that the current expansion is in the late stages of its cycle, and another says “any year from 2019 onward is in play” for a recession. The last recession began in December 2007; alarms were raised in 2011 and 2016, but the US did not enter a recession either time. The longest-ever economic expansion was in the 1990s, lasting 10 years.

Just FYI so that my readers can make any adjustments that they may need…..

Sorry if I peed on your parade….Have a good day and get some rest!  chuq

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Sex, Lies And Bullsh*t

Sex, sex, sex……Flynn, Flynn, Flynn….taxes, taxes, taxes……say goodbye to Al Franken…….that was last year and in the mean time people are dying of disease in Yemen, nukes may go to the Saudis, Jerusalem has been made the capital of Israel……and the world continues to turn…..and in a slow burn thanx to the American president……

Let’s look at say Franken (my example du jour)……he has resigned because of his events prior to his election to the Senate and yet there is a good chance that a pedophile could be elected to the Senate from Alabama(he was not)…..my my how far we have come…..for in 1987 a candidate was forced to resign because of a photo of a young woman sitting on his lap….Don’t hurt yourself….the candidate was Gary Hart.

And today we can just say that it is “fake news” and all is okay and the candidate could skate to a win.

Lies….lies….lies…..our society is awash in lies…..lies about immigrants….lies about sexual antics of politicians…..lies about international situation…..but the biggest source of lies in our society is from the one person that needs to be truthful…..the president.

So far in August 2017 the lies are running rampant……

As of August 7, 2017, Donald J. Trump will have been in office as president of the United States for 200 days. This period of time will largely be remembered for the rancor and distrust sewn between his administration, the media, and the general public, as well as any numbers of investigations, scandals, and gaffes of various size and degree (occurring both on Twitter and in real life), but what stands out in perhaps the highest relief have been the falsehoods. (And his unconscionable perversion of the exclamation point.) Without further ado, a trio of Vogue contributors list what they believe to be Trump’s greatest hits: his most memorable, notable, or otherwise mind-boggling lies, from crowd size to James Comey. Follow along to see if your favorite made the cut!

https://www.vogue.com/article/donald-trump-lies-200-days

Of course the “fake news” machine will have a field day trying to push back on the lies.

Now for the bullsh*t portion of this post…..

The hatchet job that Trump TV (FOX News) is doing on the FBI……while I personally have no love for the FBI I have no doubt that they are honorable and hardworking….the lies about the FBI has been taken up  by the cowards in the House and Senate…..these toads are regurgitating everything thing that FOX throws at the political wall.

The hard working bloggers that carry the torch for Trump continue to make excuses for Trump’s lack of any governing skills…..stock market is the Deep State that is after Trump….there is NO deep state ……..we do have a president that probably cannot pick his nose without doing harm or checking with FOX first.

Watch any “bad” news for Trump and the chorus like a Greek play, starts trying to make the case that someone somewhere is pulling the strings around Trump.

Closing Thought–06Feb18

By now we all know what the GOP thinks of the latest tax cuts, although they like to call their obscenity as tax reform…..whether you are for them or against…the simple truth is that us average worker has cuts lasting 5 years and millionaires will last forever…..equality is a good thing a shame it does not apply to everyone.

Speaker Paul Ryan recently let it be known where his elitist ass stands…..

House Speaker Paul Ryan used Twitter to highlight a school secretary benefiting from the Republican tax overhaul, then deleted the tweet after online criticism that he is cheering an increase of $1.50 a week. The AP reported on Thursday that changes in tax withholding were sparking bigger paychecks, citing as one example Julia Ketchum of Lancaster, Pennsylvania, whose check went up $1.50 a week. She told the AP that the $78 a year would more than cover her Costco membership.

Ryan on Saturday posted a Tweet noting the secretary’s increase and linking to the AP story—which was quickly met with mockery, notes the Washington Post, particularly among those comparing the size of Ketchum’s windfall with that the nation’s wealthy. Typical was Rep. Joe Kennedy III, who tweeted that, “Meanwhile the wealthiest 0.1% of Americans receive an extra ~ $3,000 per week,” while a Post reporter notes that Ketchum’s $78 a year is less than Ryan makes in an hour as speaker. Ryan has posted several other examples of worker pay increases and bonuses since the overhaul, some as much as $1,000. Ryan’s spokeswoman didn’t immediately respond to a request for comment.

Gee….a whole $1.50 per week…..I mean really who could bitch about that?

Ryan quickly tried to rid himself of that unfeeling embarrassment….but people like me will not let it go….

It was an incredibly patronizing remark that drew immediate backlash and caused him to delete the tweet in humiliation.

But the internet is forever, and activists promptly made the $1.50 pay raise a rallying cry in favor of his Democratic opponent, Racine ironworker and union leader Randy Bryce.

According to a spokesperson from Bryce’s office, speaking to Shareblue Media, “From Saturday through 1 p.m. on Sunday, we raised $130,000 from 10,600 contributions.” Furthermore, 5,100 of those contributions were $1.50.

It is clear that Ryan’s laughable attempt to pretend the tax scam would benefit the middle class has completely backfired.

Who said the GOP was all about the rich….look at what they gave this secretary…..

I must take my leave…be well, be safe and see you guys tomorrow….chuq

Closing Thought–05Feb18

Does everyone remember the promises of the campaign?  Of course not……if they did then Trump would be less popular than he is….but that aside…..does the reader remember all the promises of the return of American business from overseas?

The promise was that he, Trump, would make it such a positive business environment that those American companies would come streaming back…..

Harley-Davidson has crapped on that promise……

The iconic American motorcycle maker was part of President Donald Trump’s focus on U.S. manufacturing in the early days of his administration. Executives visited the White House in February to meet with Trump, who thanked Harley-Davidson “for building things in America.” But even Harley-Davidson had a manufacturing footprint overseas, and the Milwaukee-based company says the facility in Thailand will improve its ability to serve markets where demand is on the rise.

Harley-Davidson said the move will not impact its U.S. factories.

http://www.foxbusiness.com/markets/2017/05/23/harley-davidson-building-factory-in-thailand.amp.html

“Will not impact American factories”…..then why is the factory in Kansas City being closed?

Just asking?

Have a good evening…..peace out my friends…..chuq

Closing Thought–08Jan18

Those darn pesky facts

Trump recently signed a tax cut bill and several companies showed  their appreciation by giving its workers a bonus or a raise……and Trump had to proclaim these companies as forward looking and a credit to his “America First” agenda……but as usual Trump is a bullshit artist….

Companies like ComCast and AT&T were held up by Trump….well let’s look at the crap…..some are laying off workers…….but the tax bill saved them cash and they want to keep it…..

Comcast and AT&T were among the businesses that claimed Republican lawmakers’ effort to restructure the tax code in favor of wealthy corporations would allow them to be more generous to their workers, and publicly announced $1,000 year-end bonuses for their employees. The CEOs of both companies specifically cited the tax bill in separate press releases touting these “special” bonuses.

https://thinkprogress.org/companies-gop-tax-bonuses-layoffs-fdf07fdf90d2/

As usual the reality never gets reported for if they do then they are labeled “Fake News” by our mental deficient president…..somehow Obama will get the blame…..

My writing is getting old for the day….I will shut it down and rest for tomorrow’s stuff….chuq

The Speaker Speaks–Dec. 2017

Some may say that I am a prick.  And they are probably right.  Why would I say this?

The tax bill that passed in Dec 2017 is nothing but a boost for the wealthy….the middle class gets a boost for a couple of years then it disappears but the wealthy gets to keep all their benefits….it will create jobs…horseshit!

All that aside….I have the Speakers words and his promises on vid and in print and I will be sure to play this for the conservs whenever they try to run in my district…..

https://www.speaker.gov/press-release/speaker-ryans-floor-remarks-tax-cuts-and-jobs-act

The “Swamp” just got richer…..

The Tax Vote

The GOP has NO shame….how can they stand before the nation and lie and lie and lie……

Can we move the f*ck on?

Did you hear the Speaker go on and on….all of it lies….tax reform did not happen tax cuts for the wealthy did…..they stole the future and did not need a weapon to do so…..

Most Americans do not understand a word of economics why else do you think they can lie and get away with it…..but Vox has made it simple for everyone to understand the whole picture……a  fellow blogger Gronda Morin posted it on his site and I wanted to let my readers see what the truth of the matter…….

VOX Graphs To Explain Economy/ US Congress Needs To Learn the Basics

If you study the graphs it makes it painfully clear just how bad the f*cking of the American people will be…..this bill does NOTHING to change any of the math…..

The GOP has been foaming at the mouth since January to do what they have wanted to do to the American people for 30 years.

After all the glowing promises of the GOP…..after all the talking points were spread around…….

https://www.commondreams.org/news/2017/12/19/house-and-senate-vote-heres-13-worst-things-trump-gop-tax-scam

OOPS!…….. they’ll have to do it again on Wednesday because of a legislative hiccup. Tuesday’s vote, largely along party lines, was 227-203 and capped a GOP sprint to deliver a major legislative accomplishment to President Trump. In a last-minute glitch, however, the Senate parliamentarian ruled that three provisions in the bill, including one that would allow parents to use college savings accounts for home-schooling expenses for young children, violate Senate budget rules. House Majority Leader Kevin McCarthy said the House would vote on the package again on Wednesday, after the Senate removes the problematic provisions and passes the bill, per the AP.

Next year they will come for everyone’s Social Security and Medicare…..wait for it.