GDP Plummets Below First Quarter Expectations

April 27, 2012 at 11:00 am (Automobile, Business, Economy, GDP, Jobs, President Obama, Spending)

Good thing we had that Summer of Recovery a couple of years ago.  Otherwise, who knows where we’d be now?

CNBC:

U.S. economic growth cooled in the first quarter as businesses cut back on investment and restocked shelves at a moderate pace, but stronger demand for automobiles softened the blow.

Gross domestic product expanded at a 2.2 percent annual rate,the Commerce Department said on Friday in its advance estimate, moderatingfrom the fourth quarter’s3 percent rate.

While that was below economists’ expectations for a 2.5 percent pace, a surge in consumer spending took some of the sting from the report.However, growth was still stronger than analysts’ predictions early in the quarter for an expansion below1.5percent.

Although the details were mixed, the GDP report offered a somewhat better picture of growth compared with the fourth quarter, when inventory building accounted for nearly two thirds of the economy’s growth. In the first quarter, demand from consumers took up the slack.

So, consumer spending seems to be the silver lining here.  But wait…

with the labor market showing early signs of fatigue after employment growth averaged 246,000 per month between December and February, consumer spending could soften in the second quarter.

Some gauges of regional factory activity eased as the second quarter started, and consumer confidence ebbed. In addition, first-time applications for unemployment benefits have spiked in recent weeks, although many economists pin the rise on seasonal quirks.

Additionally, the uptick in consumer spending is being attributed to automobile sales due to ‘a spurt of job growth’.

But how long can that last considering businesses, according to this report, are tightening their belts again?

… business spending fell for the first time since the fourth quarter of 2009, with investment in equipment and software risingat its slowestpace since the recession ended.

Business spending fell at a 2.1 percent pace after rising 5.2 percent in the fourth quarter.

Are you prepared to double down on the Obama economy?  Four more years of holding your breath every time an economic report is released?  Four more years of hearing the phrase ‘lower than expected’?

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President Abusing Taxpayer Money to Fund Campaign Rallies

April 27, 2012 at 9:00 am (2012 Election, Air Force One, Campaign, Fundraiser, George Bush, John Boehner, Mark Knoller, Obama Campaign, Rally, Taxpayer, White House)

Not too shabby for a guy who hasn’t officially held a campaign rally yet.  White House correspondent Mark Knoller, indicates that the President is really only fooling himself, having already held twice as many campaign fundraisers than George Bush did during his entire 2004 re-election bid.

Via the Daily Mail:

According to Mark Knoller of CBS News, unofficial keeper of presidential statistics, Obama has held 124 fundraisers – about one every three days – since he launched his re-election bid last April compared to the 57 Bush held to raise cash for his re-election bid eight years ago.
Obama’s frenetic fundraising schedule had prompted the Republican National Committee (RNC) to lodge a formal complaint with the Government Accountability Office (GAO) about misuse of taxpayer money.


Speaker John Boehner ripped the President, demanding that he ‘pony up and reimburse the Treasury’.

‘Frankly, I think this is beneath the dignity of the White House … for the president to make a campaign issue about it and then travel to three battleground states,’ he said. 
‘This one does not pass the straight-face test. You know it, and I know it. It’s time for the Obama campaign to pony up and reimburse the Treasury.’
He added that ‘the president keeps trying to invent these kind of fake fights because he doesn’t have a record’ and ‘the emperor wears no clothes’.

What exactly has this administration accomplished that does pass the straight-face test?

So how does he get away with using your money as opposed to his own?  RNC Chairman Reince Priebus, explains.

‘Throughout his administration, but particularly in recent weeks, President Obama has been passing off campaign travel as “official events”, thereby allowing taxpayers, rather than his campaign, to pay for his re-election efforts.’

The rate we’re being stuck with?  Air Force one costs roughly $180,000 an hour to operate, and the President has unlimited power to use it for his campaign tour stops.

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Egypt Proposing Law to Allow Men to Have Sex With Their Dead Wives?

April 27, 2012 at 7:26 am (Arab Spring, Egypt, Farewell Intercourse Law, Husbands, Marriage, Necrophilia, Wives, Women, Zamzami Abdul Bari)

It may seem a little extreme at first glance, but the new Egyptian government would like you to know they aren’t a band of barbarians stuck in the seventh century.  They have their limitations.  As demonstrated by the fact that the men will only be able to have sex with their dead wives for up to six hours after they’ve died.

Now that’s taking the moral high ground.

It’s called the ‘farewell intercourse law’ and we’re not even making that up.  It also includes provisions to lower the marriage age down to 14 and prohibiting a woman’s right to education and employment.

But hey, it’s the Arab Spring!

Via the Daily Mail:

Egyptian husbands will soon be legally allowed to have sex with their dead wives — for up to six hours after their death.
The controversial new law is part of a raft of measures being introduced by the Islamist-dominated parliament.
It will also see the minimum age of marriage lowered to 14 and the ridding of women’s rights of getting education and employment.
Egypt’s National Council for Women is campaigning against the changes, saying that ‘marginalising and undermining the status of women would negatively affect the country’s human development’.
Dr Mervat al-Talawi, head of the NCW, wrote to the Egyptian People’s Assembly Speaker Dr Saad al-Katatni addressing her concerns.
Egyptian journalist Amro Abdul Samea reported in the al-Ahram newspaper that Talawi complained about the legislations which are being introduced under ‘alleged religious interpretations’.
The subject of a husband having sex with his dead wife arose in May 2011 when Moroccan cleric Zamzami Abdul Bari said marriage remains valid even after death.
He also said that women have the right to have sex with her dead husband, alarabiya.net reported.

Then there’s this from Mark Steyn:

In Arab Spring, a young man’s fancy turns to … necrophilia? 

Gotta hand it to the Muslim Brotherhood. Hard to come up with a more apt image of the Arab Spring than an aroused Islamist rogering a corpse.

On behalf of the civilized world, we’d just like to say the following…  Ewwww.

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