WTF Has Obama Done? - Issue No. 006 - Economy

I almost have one week down.  Only 39 more weeks to go, LOL.  I may have to cut these to five a week, they're so time consuming.

On today's issue I will focus on the number one issue facing our country - the Economy.  

If you've been watching the news like I have all day; You would have noticed that another week of private sector jobs were added to the 22 straight weeks of employment growth.  While Republicans continue to berate the President and deny seeing any type of improvement, the economy is slowly improving.  Unemployment is now at 8.3% which was the case in February 2009, a month after the president took office.

But how was this possible?  Well, we can thank a President who's been resilient, despite no help from Republicans in Congress.  Today we'll look at one broad policy and two targeted actions (WTF-15, WTF-16) in regard to the Economy.

WTF-14

The American Recovery and Reinvestment Act of 2009 (ARRA): a $789 billion economic stimulus plan.

(1) To preserve and create jobs and promote economic
recovery.
(2) To assist those most impacted by the recession.
(3) To provide investments needed to increase economic
efficiency by spurring technological advances in science and
health.
(4) To invest in transportation, environmental protection,
and other infrastructure that will provide long-term economic
benefits.
(5) To stabilize State and local government budgets, in
order to minimize and avoid reductions in essential services
and counterproductive state and local tax increases. [Reference]

WTF-15

Raised the small business investment limit to $250,000 through the end of 2009.

Stimulus raised the expensing limit - During the campaign, Barack Obama promised to extend a tax break for small businesses to give them a boost during the recession. The tax change raised the expensing limit — the amount that small companies can claim as their business expenses for investments.

A sharp-eyed reader brought to our attention a tiny provision in the American Recovery and Reinvestment Act, the economic stimulus package, that did exactly that. Section 1202 of the stimulus legislation raised the limit to $250,000. A May 2009 memo from the Internal Revenue Service confirms the change.[Reference]
 

WTF-16

U.S. Economy: Manufacturing grew by most since 2004.

In early 2011, The Institute for Supply Management’s factory index rose to 60.8, exceeding the most optimistic forecast in a Bloomberg News survey of economists and the highest level since May 2004, figures from the Tempe, Arizona-based group showed today. Readings greater than 50 signal growth. 

Stocks rose, extending a global rally, as factory reports from China to Europe bolstered the outlook for American companies like Caterpillar Inc. The ISM’s employment gauge climbed to the highest level since 1973, indicating manufacturers may be more willing to hire as sales pick up. 

“Businesses have figured out the economic recovery has legs so they’re growing more confident about expanding production and new orders and increasing hiring,” said John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “Manufacturing is making a very decent contribution to growth.”[Reference]

As promised, I will come back to the Economy in another issue.  Please make sure to read Issue No. 007 tomorrow as I continue with WTF-17
Everyday on BLADE 7184

An Open Letter To The People Who Hate Obama More Than They Love America

If this letter doesn't change you, or move you, I don't know what else will.  On my knees and crossing my heart to the God who brought me into this world, this letter is the damn-awful truth!   If you're a Republican this is directed at you,  If you hate Obama, this is meant to describe you, and if you're considering to vote for any of the presidential candidates currently running, let this open letter help change your mind.

Written by the Ministry of Truth, this was published on the Daily KOS, and I absolutely had to share it with the rest of of the world.  I'm so tired of people who wear the cross and promote their hatred beyond belief.  I highly condone this letter, as it is straightforward, honest and true.  If it sounds like we're mad, we have every right to be.  But do we hate you?  No, we are just embarrassed by you!

An open letter to the people who hate Obama more than they love America

    I meet you all the time. You hate Obama. You hate gay people. You hate black people, immigrants, Muslims, labor unions, women who want the right to make choices concerning their bodies, you hate em all. You hate being called racist. You hate being called a bigot. Maybe if you talked about creating jobs more than you talk about why you hate gay people we wouldn't call you bigots. Maybe if you talked about black people without automatically assuming they are on food stamps while demanding their birth certificates we wouldn't call you racist. You hate socialism and social justice. You hate regulations and taxes and spending and the Government. You hate.

     You like war. You like torture. You like Jesus. I don't know how in the hell any of that is compatible, but no one ever accused you haters of being over-committed to ideological consistency. You like people who look like you or at least hate most of the things that you hate. You hate everything else.

Now, I know you profess to love our country and the founding fathers (unless you are reminded that they believed in the separation of church and state), but I need to remind you that America is NOT what Fox News says it is. America is a melting pot, it always has been. We are a multi-cultural amalgamation of all kinds of people, and yet you still demonize everyone who is not a rich, white, heterosexual christian male or his submissive and obedient wife.

You hate liberals, moderates, hell, anyone who disagrees with Conservative dogma as espoused by Fox News and Rush Limbaugh. You hate em.

Well, here are the facts, Jack. If you hate the Government then you are unqualified to manage it. If you hate gay people more than you love America than you should take your own advice and get the hell out. There are several countries that are openly hostile to gay people, but they are full of brown people and you don't like them much either from what I understand. It looks like you are screwed, but that's not what I am here to tell you.

Continue reading after the jump . . .

Must Watch: 99% vs. 1% - The Data Behind The Movement

If you've been having a hard time understanding the "Occupy Wall Street" movement, or you simply don't get this 99% they keep talking about, then I suggest you watch this video.  It's absolutely amazing. 
 
The Guardian put together this animated short which explains the distribution of wealth in this country.  Share it with those who need a better understanding of why we ordinary Americans are paying more taxes than the rich.  Doesn't make any sense, does it?

Median Net Worth

It pains me to see close friends and past co-workers having a difficult time finding a job.  And it also pains me to know that I work with a nurse who's daughter just graduated college, and can't find work anywhere.  She has a Bachelor's degree, spent over 150,000 in college loans and no job to help pay that off.  So while Republicans are finding ways to make it harder on students, the elderly, and Latinos to vote in 2012, they are also blocking legislation which could help our college students with another major crisis - their debt.

Adding salt to the wounds of the new lost generation:

According to analysis by the Pew Research Center released Monday, younger Americans have been left behind as the oldest generation has seen wealth surge since the mid-1980s.

While it’s typical for older generations to hold more wealth than younger ones who’ve had less time to save, the gap between the two age groups has widened rapidly.

In 1984, households headed by people age 65 and older were worth just 10 times the median net worth of households headed by people 35 and younger.

But now that gap has widened to 47-to-one, marking the largest wealth gap ever recorded between the two age groups.

Must Watch: Where Do We Go From Here?

I could not say it better if I tried.

This poignant video is what democracy is all about.  Be proud that you're an American.  Be proud that you live in a country where this can happen.  

These people protesting are not our enemies, they are not terrorists.  They are firefighters, teachers, chefs, soldiers, auto-workers, office employees, I mean, the list goes on.  It is atrocious what these policemen are doing, beating and arresting people.  By the end of the year some of those same cops are going to be out of a job.  Is this how they repay those who are trying to help them?  They should have arrested those damn crazy nut jobs we call the Tea Party, with their guns waving and shit.  They were out protesting several months ago and no one did shit.

"I've been there around six times now. Two with a video camera, two with a still camera, and two just without a camera. Each experience has been unique - and I have to say - it makes it easier for me to have the camera - it gives me more focus there. But just getting lost in the crowd can be beauitful. I was there Friday night starting around 11pm and I believe there was the General Assembly going on - watching the process - they were organizing smaller groups - was beautiful - watching direct democracy in action." - Ed David

Don't You People Have Jobs?

LMAO, Isn't this the truth?