Young graduates are in debt, out of work and on their parents’ couches. People in their 30s and 40s can’t afford to buy homes or have children. Retirees are earning near-zero interest on their savings. In the current listless economy, every generation has a claim to having been most injured. But the Labor Department’s latest jobs snapshot and other recent data reports present a strong case for crowning baby boomers as the greatest victims of the recession and its grim aftermath. These Americans in their 50s and early 60s — those near retirement age who do not yet
Comments: America has been transformed. Doncha like it?
I was particularly amused by the sentence from the NY Times article - "Their retirement savings and home values fell sharply at the worst possible time: just before they needed to cash out."
Guess it beats saying, "Their retirement AND home values were wiped out by a liberal president who demanded banks loan money to people who clearly couldn´t pay it back - thus driving home prices artificially thru the roof and taking most of the rest of the economy down with ´em when government policy failed utterly. Again."
Whew. That calls for a drink. Mebbe an Ethanol and tonic?
And yet..and yet more than 50% of these sheeple twice in four years will go out and freely vote the exact reason for their misery into power. One can understand the functionally illiterate LoFos - He give free phones, he gonna do more! But these are educated people. Scary!!
Yeah,..between the low info college degrees of the past 40 years, and television, there isn´t much left of "intellectual" America. Don´t get me wrong...there are plenty of people who think they are intellectual. I don´t count myself as intelligentsia, but I get the impression from a lot of people they think they are brilliant, and they walked right out there and voted for Obama.
The "educated" lofos are proudly innumerate, devoid of intellectual curiosity and still trying to get revenge against their parents for something that happened 40 or 50 years ago. All you need to do is say it´s the Republicans´ fault and they will look no further.
Still recall he 2008 experience of driving past what were then $3 to $4 million mega-mansions in the upscale towns of Westport and Weston, CT. The more pretentious the home, the more likely there was an Obama sign calling for Hope & Change. My wife & I were confused as to what the owners of these enormous houses wanted to change. They didn´t send their children into the military. They really didn´t want "them" living nearby, and with their 2 to 4 acre lots, couldn´t see them anyway. They all vacationed in the best places, drove European cars and seemingly enjoyed the life most aspired to achieve.
Yet, these wealthy suburbanites wanted an obscure, inexperienced, 1/2 term senator to fundamentally transform the country. Why? And, why are they so willing to support the more womanly version of Obama with Hillary?
The real estate meltdown - the source of the Great Recession was pre-Obama. It was, to use a snarky over-used phrase, Bush´s fault. He let in the 10 million of so illegals, that helped drive up demand for housing. In 2002, he pushed banks, FNMA, etc to lend to minorities at zero down. Yes, the Dems loved this stuff, and under Clinton and Reuben, the financial sector was relieved of all those fuddy-duddy Depression-era reforms (Glass–Steagall Act, etc.), that allowed banks to behave so badly - but it was (examine the timing) Bush´s Compassionate Conservatism (aka as Country-Club Conservatism) that did us in.
What Obama has mainly done wrong since is (1) regulate our economy into a permanent slump. (2) reward dependency by encouraging the expansion of government entitlements.
Folks here are wise but have not looked back far enough. This economic mess started with the Community Reinvestment Act in the 1990´s wherein Government mandated ( submit or be penalized ) mortgage lenders to "give" homes to people that were bad risks for repayment in hopes they would become part of the American Dream. It snowballed from there with the Government, Congress, Rating Agencies, Quasi-Government Agencies, lenders, and foolish buyers all taking a part in the debacle. All had a hand in creating the problem but the Government was the initial and primary culprit. Its all laid on in historical sequence in various internet articles.
My confusion exactly, #12. During the Bush years, things were going quite well but everyone was miserable because the MSM got them to believe "Good is Bad." And then the MSM got everyone to believe "Bad is Good," twice, no less!
..And Dodd & Frank are guaranteed Federal incomes for life. ...There ´otta´ be a law against lifetime pensions provided by taxpayers for dishonorable, (-and worse!), former Boomtown, ´lawmakers,´ who should be accountable for policies in violation of their oaths of office to, ´protect and defend the U.S.A.´
Dodd/Frank´s mortgage fiasco and Rep. Al Swift´s, ´Motor Voter,´ legislation, together are hurting America the Beautiful immeasurably abd increasingly. Pres. Reagan reminded us that freedom can be lost in just one generation. Will the USA be recognizable in 20 years with such increasing statist legislation regarding EVERYTHING conceivable in American life?!
SOUTH ORANGE, N.J. -- The victim of a vicious knockout attack in New Jersey is speaking out for the first time. He was cold-cocked, and hit not just with a fist, but with a glove with hard plastic knuckles. Two of the four attackers are still on the run. "All of a sudden, I was trying to watch my back and these two came around front and punches my face," the victim said. The 36-year-old restaurant worker does not want his name or face on television, and who could blame him? He still has headaches from a concussion and six
Sears stock plummeted Wednesday as news came out that Edward Lampert, its stubborn billionaire chairman and CEO, had to surrender majority control of the 120-year-old big box retailer when investors in Lampert’s hedge fund pulled money out. With no end in sight for Lampert’s quixotic turnaround efforts, it’s time to question whether there’s any way to save Sears as long as he remains in charge. (Snip) Lampert began at Sears with the ill-fated $12 billion merger with Kmart in 2005. Sales have declined for 27 straight quarters and the company’s stock is down over 70% from its high in 2007.
The Internal Revenue Service (IRS) has no system in place to prevent fraud when individuals apply for tax credits under Obamacare, according to the Treasury Inspector General for Tax Administration (TIGTA). The IG said in an audit released Tuesday that the IRS has no plan to manage, monitor, or mitigate fraud risk when processing premium tax credits available under the Affordable Care Act (ACA). “The ACA Program has not yet completed a fraud mitigation strategy,” the audit found. “It is important for the IRS to thoroughly consider fraud threats and risks that could impact new ACA systems.” Politico reports: The
Around 100,000 Americans successfully signed up for health insurance in November through the troubled federal online marketplace, HealthCare.gov, a person familiar with the preliminary data confirmed to ABC News. The figure reflects a surge in enrollment as software and hardware fixes to the site were made over the course of the month. In October, only 26,000 people could successfully enroll in Obamacare plans, according to the Department of Health and Human Services. "We´ve been working 24/7 to make improvements, and more consumers are successfully shopping online and enrolling in a health plan each week," Health and Human Services Secretary
NEW HAVEN >> The jail cell death last weekend of Yale University professor Samuel See, known as a brilliant writer and rising star in academia, has shaken up the tight-knit college community. Now adding to the mystery of his unexpected death are apparent connections between the online profiles of See and several escort service websites that include a cache of sexually explicit photos. At least four websites advertising male escort services included a phone number connected to See. The website Ryan Cochran Escort Services includes the same phone number listed on an order of protection filed against See in September.
For many Ann Arborites, Thanksgiving is a day devoted to giving thanks, spending time with family, eating turkey and watching the Detroit Lions. This year, retail giants want that to change. (Snip) The early openings change the game for retail giants looking to boost profits through aggressive holiday sales. It also means millions of retail employees in the U.S. are working on the holiday, and it poses the question to consumers: Is a bargain on a 70-inch television or an Apple iPad worth ditching Thanksgiving dinner? “You couldn’t pay me to stand in a line in the cold on Thanksgiving
Macy´s Inc and a slew of other U.S. retailers are opening on Thanksgiving for the first time ever in a bare-knuckled brawl for a bigger slice of overall holiday sales. But it might not be so easy to lure most Americans from their turkey and football - particularly if the weather is foul. Department store rivals Kohl´s Corp and J.C. Penney Co Inc led a string of Thanksgiving opening announcements after Macy´s said it would open its U.S. stores on the popular holiday, ending a 155-year tradition. Sales trends, survey results and an online "Save Thanksgiving" backlash suggest that shoppers
The captain of a Greenpeace ship released on bail after two months of detention in a Russian prison following an Arctic protest said he and his fellow activists remain in shock at their treatment. American Peter Willcox, who was also in charge of Greenpeace’s Rainbow Warrior when it was sunk in Auckland in 1985 by a bomb planted by the French intelligence service, said the organization again found itself in the crosshairs of a government bent on throttling the environmental group. “There is a similarity between the two cases,” with both the French and Russian governments targeting Greenpeace to prevent
DENVER - 9Wants to Know has learned federal investigators believe Colombian drug cartels have taken root within Colorado´s medical marijuana industry. On Thursday, federal agents from the Drug Enforcement Agency and Internal Revenue Service executed search warrants on several medical marijuana shops in Denver and Boulder. One of those shops is VIP Cannabis, a shop near Federal Boulevard and Alameda Avenue. Numerous calls into VIP Cannabis by 9Wants to Know have not been returned. While the warrants and other documents relating to the investigation are under court-ordered seal, sources spoke on the condition of anonymity to 9Wants to Know.
Minorities continue to offer a bulwark of support for the Affordable Care Act, according to the latest United Technologies/National Journal Congressional Connection Poll. But the deepening discrepancy between their views of Obamacare and their support for President Obama´s reelection last year shows skepticism about whether the big social-welfare program has worked touched even the White House´s most ardent supporters. A battery of questions about who benefits from the health care law, whether it should be repealed, and what´s to blame for its rocky rollout all reveal a portion of the electorate that´s far more favorable to the sweeping reform than
WASHINGTON - President Barack Obama´s signature health law has helped spur stronger economic growth by contributing to slower increases in healthcare prices and spending, the White House said on Wednesday. The White House´s assertion of the economic benefits of the law commonly called Obamacare runs counter to the views of many critics, who say it is raising insurance premiums and chilling job creation. (Snip) "The government´s non-partisan actuaries report this is the result of the terrible economy under President Obama, not his health care law," Boehner press secretary Brendan Buck said in an email.
The Obama administration has not always been great at selling its agenda, but the president´s adoption of the right-wing slur "Obamacare" as a prideful new name for the Affordable Care Act has been a notable exception. We often think the proper response to being called a dirty name is to object. That´s a good first step, but in the long term, the judo approach is constructive -- hurl the power being used against you back to your opponent. For example, in 1968 William F. Buckley could offend Gore Vidal by calling him a "queer" on television. Today, the line would
A veteran Washington adviser who has worked for four Presidents on both sides of the political aisle said that the stunning Government Accountability Report report that found President Barack Obama has not had a one-on-one meeting with Health and Human Services Secretary Kathleen Sebelius since the passage of Obamacare over three years ago is an indictment of the entire White House operation and shows that the Obama administration has bordered on "malfeasance." "I have no doubt the White House is right, that Secretary Sebelius was in several group meetings with the president about health care," Gergen caveated, "but the whole
President Barack Obama’s Facebook page on Saturday posted a message honoring the dead from Pearl Harbor—accompanied by a picture of Obama descending the stairs next to the Pearl Harbor Memorial. The picture barely fits the name of the Arizona Memorial so it can frame Obama in the foreground. The post´s statement reads: Today, with solemn pride and reverence, let us remember those who fought and died at Pearl Harbor, acknowledge everyone who carried their legacy forward, and reaffirm our commitment to upholding the ideals for which they served. President Obama The Obama Administration´s current shipbuilding plan shrinks the size of
Dr. Ezekiel Emanuel, the hapless, goalpost-shifting so-called "architect" of Obamacare, told Fox News´ Chris Wallace on Fox News Sunday that President Barack Obama´s promise "if you like your doctor, you can keep your doctor" was absolutely true--with one important caveat: if you like your doctor, "you can pay for it." Wallace grilled Dr. Emanuel, challenging his false claims that California´s enrollment was keeping pace with the percentage of the young population necessary to keep the system afloat, and pointing out that the president´s promise on doctors would collapse once people lost their insurance or their
Just how much do many Hollywood liberals hate conservatives? In an interview with Playboy, Ben Affleck said, "When I watch a guy [on film] I know is a big Republican, part of me thinks, I probably wouldn’t like this person if I met him": PLAYBOY: You developed a political profile campaigning for presidential candidates Al Gore, John Kerry and Barack Obama. How did that come about? AFFLECK: I grew up in a house with a mother who was a teacher and a Freedom Rider—very left-wing Democrats living in a heterogeneous working-class neighborhood. I picked up a lot of those values there, and I
The U.S. isn´t called "America the Beautiful" for nothing. Each year, millions of tourists come from home and abroad to see the country´s majestic landscape and iconic sites, from the Grand Canyon to the Statue of Liberty. But there are also cool, quirky attractions, like Vermont´s Ben & Jerry´s Factory and Tennessee´s Graceland, the former home of Rock and Roll King Elvis Presley. From California to New York and everywhere in between, the country is chock-full of incredible attractions that keep luring in visitors. Here are the best tourist attractions in every state.
MSNBC host Melissa Harris-Perry opened her program over the weekend with a commentary about the Affordable Care Act’s colloquial moniker: “Obamacare.” She said that the word was originally created as a “derogatory term,” designed by white men as a way to delegitimize President Barack Obama and his achievement. However, she said that the term will soon be synonymous with all of Obama’s accomplishments and she urged her audience to use the term with pride. “I want to talk today about a controversial word. It’s a word that has been with us for years, and like it or not, it’s indelibly
Prime Minister Benjamin Netanyahu made a last minute decision not to participate in a memorial service for the late South African President Nelson Mandela, despite having notified the South African government that he would attend the event. The decision was made in light of the high transportation costs resulting from the short notice of the trip and the security required for the prime minister in Johannesburg. The Prime Minister’s Office found that the trip would have cost roughly 7 million shekels ($2.4 million) – 2.8 million shekels for chartering a private El Al plane and a further 3.2 million shekels for
President Obama, former president George W. Bush and their wives departed Washington Monday morning on Air Force One on their way to a memorial service in South Africa for Nelson Mandela. The president and first lady Michelle Obama are being accompanied by Mr. Bush, former first lady Laura Bush and former Secretary of State Hillary Rodham Clinton on the flight to Johannesburg. A four-hour memorial service will be held on Tuesday for South Africa’s first black president. Mr. Mandela, the anti-apartheid revolutionary, died on Thursday at age 95. Former President Bill Clinton and daughter Chelsea are traveling separately to South Africa. Former President
President Obama will make remarks on Nelson Mandela´s legacy during a memorial service Tuesday for the late South African freedom fighter, officials said Monday. "We do expect President Obama to speak as part of the program," said Ben Rhodes, deputy national security adviser for strategic communications. The president and first lady Michelle Obama departed Monday for Johannesburg, where a Mandela memorial service will be held in a soccer stadium. Obama, who will also spend time with the Mandela family, is not scheduled to hold any bilateral meetings with foreign leaders while in South Africa, Rhodes said. Rhodes also said the
All three networks on Monday morning highlighted the appearance of the Obamas at the Kennedy Center Honors, but only ABC fawned over "fashion win" of First Lady. Lara Spencer enthused that " one of the stars of the show was Michelle Obama." An excited Spencer explained that Mrs. Obama looked "absolutely ravishing in a flowing teal gown as she accompanied President Obama." The co-host declared, "Another big fashion win for the First Lady. CBS This Morning offered a full report on the various performers who were honored, but co-anchor Charlie Rose avoided ABC´s superlatives.
Barack Obama has arrived in South Africa to lead the American delegation at a memorial service for former South African President Nelson Mandela in Johannesburg. But his party is reportedly stuck in traffic and he is said to have arrived late at the stadium for the ceremony. [Snip] But Mr Clinton, Mr Carter and his wife Rosalynn have all traveled separately to the event. According to reports, Mr Obama and his delegation are stuck in a lines of traffic caused by tens of thousands of people making their way to the event. Mr Obama is among the foreign leaders who
An Iraq veteran who thought he was buying an iPad as a Christmas present after responding to a Craigslist posting, has been shot dead in an Indianapolis parking lot by the fake sellers. New-dad Jim Vester, 32, was lured to an address on Wednesday in the west side of the city and brothers Tyron Kincade, 19, and Tyshaune Kincade, 18, have been arrested after Vester was shot dead leaving behind his one-year-old son, Gavin and wife, Jamie.