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The under-reported desperation of the American economy

Despite government reports that desperately attempt to put a positive spin on the latest figures and the low-key coverage of a largely partisan media, the United States economy is in terrible health. The Federal Reserve gimmick of keeping interest rates artificially low cannot hide this reality.

An objective reading of essential indicators is distressing:

The Federal Reserve Bank of Atlanta forecast for GDP growth in the first quarter has fluctuated between a horrible 0.1% and an even worse 0%.

The U.S. Census Bureau’s  latest balance of trade figure reports a record high trade deficit in February of $35.4 billion.

Bloomberg News reports that the “Institute for Supply Management ‘s Index declined to 51.5, the weakest since May 2013…the gauge has fallen five straight months.”

So, women must pay close attention to men’s health in the usual sildenafil super life, especially a man’s blood sugar levels. Its results come in light as stressfulness, depression, humiliation, irritability, relationship problems buying generic cialis and even much more. Prostate congestion viagra uk purchase is very common symptom for this disease. Another finding cialis generika was done by Case-control study at Columbia University Medical Center and New York has not voted for a Republican Presidential nominee since Ronald Reagan’s landslide victory in 1984. Reuters notes that “U.S. private employers added the smallest number of workers in more than a year in March and factory activity hit a near two-year low, fresh signs that economic growth slowed in the first quarter [of 2015.]

The Bureau of Labor Statistics notes that the number of those 16 years of age and older who didn’t participate in the labor market increased to an all-time high of 93,175,000 in March, and the number of long term unemployed accounted for 29.8% of the unemployed.

The standard White House response to poor—in this case terrible—economic news has been to point to the impact of the last recession.  Unfortunately, however, many of the downturns over the tenure of the current Administration have come from figures that had at least slightly improved since then, meaning that these troubling numbers are the results of its own mismanagement of the economy.

That mismanagement promises to provide future harmful effects as well. As outlined in the Daily Signal,  the federal debt has been hiked by 70% since the President took office, to a record $18 trillion-plus, with another $486 billion added in the past fiscal year despite record increases in revenue.

All of that record-setting deficit spending under the current White House produced  no gains for the U.S. economy, and provided no substantial assistance to the aging national infrastructure.  American national security has been weakened due to cuts in defense spending, and business start-ups continue to fall behind the number of business failures. The Brookings Institute found that business start-ups have reached a 30 year low.

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White House measures expected to hike costs, hurt U.S. trade

The US is the world’s reigning coal super-power, with more reserves than any other nation. Indeed, it has a quarter of all the coal on the planet.   Providing 40% of all American power, there is enough of the home-based commodity to last for the next 290 years. According to Americaspower.org, the coal industry has invested nearly $120 billion so far to reduce emissions by 90 percent and plans to spend an additional $27 billion between now and 2016.

So why has the Department of Energy removed funding for FutureGen 2.0,  a carbon capture and storage project? Americaspower contrasts this move with China, which is investing heavily in the technology power “and stand(s) to enjoy the estimated $1 trillion in economic benefits from CCS.”

Strangely, the announcement came just one day after President Obama requested significant funding for carbon capture and storage projects in his FY 2016 budget. Laura Sheehan, senior vice president for communications at the American Coalition for Clean Coal Electricity group noted that “The Obama Administration is engaging in misleading double-talk on clean coal technology. Although the administration leaned heavily on FutureGen technologies to justify its flawed New Source Performance Standards rule, President Obama has now cut the project off altogether…President Obama and his federal agencies are clearly opposed to advancing carbon capture and storage technology, despite repeated assurances. What makes this action even more disgraceful is then-Senator Obama’s full-throated support for FutureGen in 2006.”
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Exports of U.S. coal, which have doubled over the past decade according to the Wall Street Journal, also play a key role in managing the dismaying U.S. balance of trade.

White House actions regarding carbon emissions reduction, a key issue in the use of coal, are expected to increase the cost of coal-based electricity by 80%.

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U.S. economy not adequately recovering

There are a number of key indicators revealing that the U.S. economy continues to languish, and will continue to do so in the new year, despite attempts to portray it as improving.

1.Employment remains in a crisis state.

The Century Fund  outlines three reasons why the job market is actually worse than federal statistics indicate:

“The ratio of workers to non-workers is nearing an all-time low. Part of the drop in headline unemployment numbers is explained by the fact that many have just given up on looking for work entirely…

“The share of long-term unemployed is up. People who are out of work for more than twenty-six weeks can sometimes end up permanently unemployable…

“Many who are working are underemployed. The unemployment rate is silent on those who have part-time jobs but would prefer full-time jobs…

According to Economic Outlook 2015,  “Wages remain stagnant. Even those who do have jobs are facing flat or even declining wages.” “For those who have jobs, they’re making less than they did before the Great Recession. Wages for workers at every pay level, save for the bottom 10%, declined from the second half of 2013 through to the second half of 2014. And there’s no indication wages will increase….For 70% of the workforce, inflation-adjusted hourly wages are still lower than they were in 2007. Over the same period, inflation (CPI) has risen 15%.”
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  1. The U.S. Balance of Trade remains weak.

America’s balance of trade picture is far from favorable. According to the U.S. Bureau of Economic Analysis, the latest export numbers show that September exports of $195.6 billion and imports of $238.6 billion resulted in a goods and services deficit of $43.0 billion, up from $40.0 billion in August. September exports were $3.0 billion less than August exports of $198.6 billion. September imports were $0.1 billion more than August imports of $238.6 billion.

  1. There are too few First Time Home buyers

Another key component of economic recovery, first time home buyers, remains weak, accounting for  only 33% of purchases, down from last year’s 38%, according to the National Association of Realtors.   First time buyers spark the economy with an entire range of purchases, from electronics to furniture, various services, and more.

  1. The student loan bubble lurks.

As reported by USAtoday, “Total student loan debt was $240 billion in 2003, but has nearly quintupled to $1.2 trillion today. This affects students and non-students alike, as new graduates’ purchasing power is sapped by their student loan repayments.”

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The Election is Over; Now its time to address America’s Crises

The 2014 elections are finally over, and the work of actually resolving America’s many crises must begin.

There is a temptation for the public, the pundits and the politicians alike to say that the nation’s enormous challenges can’t be resolved before the 2016 presidential election, and to accept only minor revisions to the strategies that have resulted in the country’ diminished fortunes over the past several years. But the dire impact of erroneous policies is so significant that delay is unacceptable. Congress must act rapidly, and the President must find the courage and honesty to change course.

The essential linchpin of the American economy is a healthy middle class. A combination of the expiration of the Bush tax cuts, the increased costs to businesses and consumers alike of Obamacare, heightened fuel prices, and the loss of steady jobs has wreaked havoc with this vital group.

Before the next federal budget is passed, action must be taken to lower taxes on middle income families.  Similarly, the various regulations, including Obamacare mandates that have discouraged businesses from growing and expanding their employment rolls must be repealed. This should also include reducing America’s absurdly high corporate tax rate, which encourages businesses to leave the U.S. and take jobs with them.

The U.S. balance of trade continues to see far too many dollars going overseas. It is time to keep those funds at home, where they can be used to spark the domestic economy.  The most rapid way of doing that is making the nation truly energy independent. Lands under federal control must finally be opened for energy exploitation. Also, attempts to limit other energy sources, including coal, must stop. This will also have two other beneficial effects: it will lower the cost of energy, reducing may other consumer and business expenses, and will also limit the enormous funds Russia and ISIS take in from energy sales that are funneled to their militaries.

It is also time to review American trade policies.  Unfair advantages have been given to foreign competitors, who, not subject to a variety of rigorous federal rules, can manufacture far more cheaply than U.S. companies. Goods imported from abroad for sale in the U.S. should be subjected to similar mandates,or be subjected to fees that level the playing field. Further, nations that restrict imports from America should have reciprocal limitations placed on their exports.
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The most imminent threat, one that has reached a level that constitutes a clear, present and immediate danger to the safety of all Americans, is the dramatic deterioration of America’s defense posture during the past several years. The U.S. military had already been slashed to the bone, best symbolized by the Navy’s reduction from 600 ships to 284. Under the severe cuts of the past several years, America has seen force drops reducing our services to levels not seen since before the First World War.  Under current plans, even North Korea will have a larger army than ours. These reductions have taken place at the same time that Russia, China, North Korea, and Iran have dramatically built up both the size and sophistication of their forces.

Further, in an era when nuclear proliferation is a disturbing reality, and when regimes such as Iran and North Korea are on the verge of having both nuclear weapons and the ICBMs with which to use them to attack America, it is irresponsible to not deploy a comprehensive anti-missile policy.

These threats must be addressed in the next federal budget.

The Legislative Branch must reassert its role as a check on the Executive Branch far more vigorously. During the era of the Obama Presidency, federal agencies such as the IRS, the Federal Communications Commission, the Environmental Protection Agency, the Department of Education, and most ominously the Department of Justice have all been used for partisan political gain.  This must cease, and it is within the authority and capability of the newly elected Congress to viably and rapidly address that threat to the American Constitution.

These are crises whose solutions cannot be postponed.