Categorized | Featured, Freedom Under Fire

Freedom Under Fire, Feb. 27th, 2009

Freedom Under Fire, Feb. 27th, 2009

Does Obama have a double standard with earmarks? The Reagan Era is officially over, economy falls much more than initial estimates, and unemployment reaches 10.1% in California…just the latest in your Freedom Under Fire Report!

Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:

Obama’s Double Standard on Earmarks. On tuesday, President Obama declared before a joint session of congress that “we passed the recovery plan free of earmarks.” On Friday, Congress passed an omnibus spending bill for $410 billion that includes 8,500 earmarks estimated at $7.7 billion. Another example of Washington hypocrisy.

The Reagan Era is Officially Over. The budget that President Obama proposed on Thursday represents a complete reversal of Reagan’s limited government, lower tax policies that have defined-at least rhetorically-the last three decades of politics. The new era is one of discriminatory taxation on select population segments (i.e. the “wealthy”, businesses, and capital), and pervasive government expansion and involvement throughout American life, but particularly throughout the economy.

Economy Falls Much More Rapidly than Previously Thought. The Commerce Department revised FY04 GDP estimates from an annualized fall of 3.8% to a far more drastic decline of 6.8%. All components of GDP-with the exception of government spending-contracted. This is the steepest decline since the 1982 recession.

Unemployment Reaches 10.1% in California. According to official estimates, more than 1 in 10 California workers were unemployed in January. This is the largest unemployment rate in 26 years and raises questions as to why business, capital, and people are fleeing the state.

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This post was written by:

Rob Viglione - who has written 224 posts on The Freedom Factory.

Rob Viglione is a Realtor, economic consultant, and manager of a derivatives trading partnership. Rob has written extensively for Seeking Alpha and The Freedom Factory.

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