Daily Readings 04-11-2012

By: admin
Published: April 11th, 2012


Calling the Obama economy a wasteland is an understatement

Here are just seven economic facts that begin to capture the economic pain Americans are presently experiencing as they struggle to survive the ravages of the Obama economy :

Freedom vs. fairness

The election will hinge on how many people who can’t afford a Kia now believe that they might be able to under Mr. Romney – and who could care less about the other guy in the Mercedes.

White House Economic Adviser Gene Sperling Hammered On CNBC Over Obama’s Budget…

America’s Debt Is Greater than Entire Eurozone’s (and U.K.’s) Combined Debt

Spies from China, Russia and Iran infect American universities to steal government and corporate secrets

American universities have become infected with foreign spies posing as humble students and researchers, who are working to steal government secrets and new technologies to take back to their own countries.

Untold numbers of foreign agents are hidden among the thousands of legitimate international students who are studying science, technology and engineering in the US.

Why Obama’s JOBS Act Couldn’t Suck Worse

The “Jumpstart Our Business Startups Act” (in addition to everything else, the Act has an annoying, redundant title) will very nearly legalize fraud in the stock market.

Obama’s Favored Policy Would Boost Gasoline’s Prices

President Obama needs to take Lemonade Economics 101.

Tell a 10 year old that the federal government is going to make him pay 25 cents for every glass of lemonade he sells at his corner stand, and he will say he’ll have to charge an extra quarter per serving — or simply close up shop. He certainly won’t say he’ll be persuaded to lower his prices.

But President Obama wants us to think he can compel oil companies to lower the pump price of gasoline, by eliminating business tax deductions for certain major companies, and raising their cost of doing business by what he admits would be $4 billion a year.

Energy: Refined out of existence

As petrol prices rise and western demand shrinks, refineries are closing across the developed world

Rep. Cleaver faces Bank of America suit, but could be bailed out by taxpayers

Congressional Black Caucus Chairman Emanuel Cleaver (D-Mo.), who is facing a lawsuit for failing to pay down a 2002 Bank of America loan that he used to buy a car wash in Missouri, could have a good chunk of the $1.5 million he owes paid off by taxpayers.

According to the Kansas City Star, the Small Business Administration (SBA) backed about three-quarters of Cleaver’s 2002 loan, which means that if the loan goes bad, the SBA could pay off $1.1 million of that debt.

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