Political Rope

U.S. Job Market Short by 7.2 Million Jobs of Stimulus Projection

Mar 112012

According to the early January 2009 projections of President Obama’s team, the economy was suppose to have 137,550,000 non-farm payrolls by the end of 2010 if a robust Stimulus was put in place. That would be a gain of 3.5 million jobs in a stretch of 23 months: From February 2009 through the end of 2010. On a monthly average, that would be 152,174 additional jobs. If we keep to this average for the fourteen months since after December 2010, the economy should have produced an additional 2.13 million jobs to a total of 139.68 million jobs by the end of February 2012. But instead, current payrolls stand at 132.4 million. This is a shortfall of 7.2 million jobs than what the Stimulus projected.

Indeed, “everyone predicted a great depression,” claims president Obama. But due to his Stimulus, things are not as bad as expected… But then again, we are short 7.2 million jobs and the Unemployment Rate is at 8.3% instead of the projected 6% only because things were after all worse than expected…

Annual Average for Regular Gas in Recent History

Economy & Buisness No Responses »

Mar 102012

With the average gas prices for a regular gallon gas now above $3.75 in the United States, let’s look at the recent annual average for gas prices, based on the Energy Information Administration:

2011 – $3.521

2010 – $2.782

2009 – $2.353

2008 – $3.246

2007 – $2.796

2006. $2.572

2005 – $2.270

2004 – $1.852

2003 – $1.561

2002 – $1.345

2001 – $1.420

2000 – $1.484

Bank Closings Down Compared to Recent Years; Still Way up Than Bush Era

Economy & Buisness, News No Responses »

Mar 102012

The Federal Deposit Insurance Corporation (FDIC) closed one bank this weekend, brining to thirteen the number of banks it closed this year. Last year this time, the FDIC had already shuttered 25 banks, which was similar to the 26 closed in the same time in 2010. However, the 2010 number was more than the seventeen banks closed through the first ten days of March a year earlier. In Bush’s last year in office, 2008, the FDIC at this time had closed only two banks. In fact, for all of 2008, only 25 banks were closed, and that was Bush’s worst year in office for Banks.

CBO: 2012 Deficit Projected to be Five Times Larger Than 2007 Budget Deficit

Budget & Deficit, News 1 Response »

Dec 132011

In further evidence of the fiscal mess the United States is now, the CBO projects that the federal budget deficit for Fiscal Year 2012 (which started on October 1’st) will reach $973 billion. This is five times larger than the 2007 budget deficit, the last budget written by then-President George W. Bush and the Republican controlled Capitol Hill.

The deficit for the first two months of the current year, already reached $236 billion which is almost half the $500-plus billion deficit for all of FY-2008.

178 US Troops Died in Afghan Post OBL; 170 Died in Iraq During Bush’s Last Nine Months

War No Responses »

Aug 242011

The USA lost 178 troops in Afghanistan in the almost four months since the capture of OBL. This is more than the 170 US troops that were killed in Iraq during the last nine months of the Bush Presidency. (This includes the full month January 2009. Obama was inaugurated on the 20’th of that month).

US Afghan losses in the last four months (178) are five times larger than the Iraq losses (35) of the last four months Bush was in office. Additionally, the last four month period in Afghanistan is the second worst four-month period for US troops there since the war started almost ten years ago.

US Deaths in Afghanistan Reached 1,114 Under Obama Vs. 630 Under Bush

Uncategorized No Responses »

Aug 182011

Call it bad luck, blame it on mismanagement, or maybe attribute it to an increased mission in recent years. Regardless, the United States lost 1,114 soldiers in Afghanistan since the start of January 2009; the month Obama became President. That is close to double of the 630 troops that were killed during the seven years-plus that the Bush Administration ran the war.

Gallup: At This Time in Office, Bush Presidents Were Ahead of Obama on Handling the Economy

Polls No Responses »

Aug 182011

Only 26% in a Gallup Poll – a new low – approve of President Obama’s handling of the economy. At this time in office, 45% in a Gallup poll approved of President George W. Bush’s handling of the economy, and approximately 35% – also in Gallup - approved how Bush the First handled the economy at this time of his four years in office.

For The DNC, Pawlenty is Still Running, While Perry is Missing

2012 Elections 2 Responses »

Aug 172011

Currently, Wednesday August 17, 2011 11:40 AM, one of the main pages at the website of The Democrats lists Tim Pawlenty as one of the Republican candidates for president, while the website does not mention the candidacy of Texas Governor Rick Perry.

In an era of ever-changing news, one would expect a national party to have staff on hand to keep its website up to speed.

Bush First Dropped to 39% in Gallup at End of Fifth Year; Obama Mid-Third

Polls & Opinion No Responses »

Aug 152011

Sunday August 14 was the first time President Obama’s approval rating dropped to a low of 39% in the Gallup Poll. How bad or good is it? Well, October 17 2005, at the end of President’ Bush fifth year in office, was the first time the forper president dropped to 39%. Overall, his sixth year in office 2006, was the first year that Bush’s average approval rating was below forty (37.3) percent in Gallup.

Obama’s average approval rating for his current term is 51%; lower than the average 54% presidents since FDR had at the current time in office. But this number does not mean the end of Obama: Clinton, Reagan, and Nixon were all slightly weaker than Obama at this time, yet 2/3 of them had mega victories, while the third – Clinton – also won, however he didn’t pull in a full fifty percent.

CBO: Only Twelve Cents of Each Dollar in New Monthly Debt is Due to Bush Tax Cuts

Budget & Deficit No Responses »

Jul 292011

A Political Rope analysis of a CBO report concludes that only 12.1% of each dollar in recent debt is due to the Bush Tax Cuts.

Here is the breakdown: The total eleven year cost of all the Bush tax cuts (including cuts for the poor and middle class) is $1.829 trillion. This amounts to $13.86 billion per month spread through those years. By comparison, the total new debt accumulated in Fiscal Years 2009 through 2011 (including CBO projections) is $4.106 trillion. This amounts to $114.06 billion per month.

It doesn’t mean that the rest of the monthly debt is due to spending. The tax changes in the Stimulus bill and the 2010 Tax Act passed in the lame duck session, add another $17.88 billion per 36 of the above months.

All in all, only $31.74 billion (27%) of the average added $114.06 billion debt per month since the start of Fiscal Year 2009 is due to the tax changes enacted since President Clinton left office. (This includes the Bush 2001, 2003, and 2004 tax laws that helped many poor and middle class Americans; the Obama 2009 Stimulus tax changes for “95 percent working Americans;” and the Lame Duck 2010 tax changes supported by Democrats and Obama that also largely went for lower income Americans).

A PR strategist for Republicans notes that if Democrats want Republicans to compromise on tax rates; spending shall first be reduced to levels that add to the debt in balance that tax changes do, and only then can there be a discussion of raising taxes.

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