November 2, 2012

Bishop: Politicians Who Support Abortion And Those Who Knowingly Vote For Them ‘Are Objectively Guilty of Grave Sin’

Filed under: Activism,Life-Based News,Taxes & Government — Tom @ 5:44 pm

From the Chicago Tribune via McClatchy:

Joining the chorus of Roman Catholic clergy in Illinois criticizing President Barack Obama before next week’s election, Peoria Bishop Daniel Jenky ordered priests to read a letter to parishioners on Sunday before the presidential election, explaining that politicians who support abortion rights also reject Jesus.

“By virtue of your vow of obedience to me as your Bishop, I require that this letter be personally read by each celebrating priest at each Weekend Mass,” Jenky wrote in a letter circulated to clergy in the Catholic Diocese of Peoria.

In the letter, Jenky cautions parishioners that Obama and a majority of U.S. senators will not reconsider the mandate that would require employers, including religious groups, to provide free birth control coverage in their health care plans. “This assault upon our religious freedom is simply without precedent in the American political and legal system,” Jenky wrote.

“Today, Catholic politicians, bureaucrats, and their electoral supporters who callously enable the destruction of innocent human life in the womb also thereby reject Jesus as their Lord,” Jenky added. “They are objectively guilty of grave sin.”

Of course they are. That is not “controversial,” as the Tribune claims. It’s factual.

The Benghazi Wall Completely Crumbles

Fox News: “Benghazi consulate warned 3 hours before attack of militia gathering arms”

Found at Hot Air.

It seems that the better outcome for Obama would be losing the election.

The October Employment Situation Summary (110212); Rate up to 7.9%, 171K SA Jobs Added

Filed under: Economy,Taxes & Government — Tom @ 8:29 am

Econ catchup:

  • ADP’s employment report showed 158,000 jobs added in the private sector.
  • Auto sales were up by 6.9% in October over October 2011. Ford was flat, GM was up almost 5%, and Chrysler 10%. Toyota (+15%) and Honda (+22%) led the way.
  • The Institute for Supply Management’s Manufacturing Index rose to 51.7% in October from 51.5% in September, indicating slightly increased expansion. Oddly, new orders went into further expansion but the backlog of orders went further into contraction.

Predictions for today’s report:

  • Bloomberg: 7.9% unemployment rate; 125,000 job additions.
  • Reuters: same (“offering Obama no relief”)
  • I’ve read and heard several predictions that the job adds will be higher than the consensus prediction, but that the unemployment rate will rise to 8.0%.

The report will be here at 8:30.

HERE IT IS:

Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade.

Household Survey Data

Both the unemployment rate (7.9 percent) and the number of unemployed persons (12.3 million) were essentially unchanged in October, following declines in September.

Among the major worker groups, the unemployment rate for blacks increased to 14.3 percent in October, while the rates for adult men (7.3 percent), adult women (7.2 percent), teenagers (23.7 percent), whites (7.0 percent), and Hispanics (10.0 percent) showed little or no change. The jobless rate for Asians was 4.9 percent in October (not seasonally adjusted), down from 7.3 percent a year earlier.

… The civilian labor force rose by 578,000 to 155.6 million in October, and the labor force participation rate edged up to 63.8 percent. Total employment rose by 410,000 over the month. The employment-population ratio was essentially unchanged at 58.8 percent, following an increase of 0.4 percentage point in September.

Establishment Survey Data

Total nonfarm payroll employment increased by 171,000 in October. Employment growth has averaged 157,000 per month thus far in 2012, about the same as the average monthly gain of 153,000 in 2011. In October, employment rose in professional and business services, health care, and retail trade.

The change in total nonfarm payroll employment for August was revised from +142,000 to +192,000, and the change for September was revised from +114,000 to +148,000.

So 255,000 more people (171K today plus 50K more in August plus 34K more in September) were believed to be working in October than in September. My quick reax is that seasonally adjusted figures reflect the underlying raw (seasonally adjusted) data, but that will require a closer look.

My jump-out stats:

  • Since the recession ended in June 2009, the number of seasonally adjusted full-time workers has only increased by 2.8 million (from 112.747 mil to 115.459 mil). That’s an unimpressive average of 70,000 per month over 40 months.
  • Additionally the number of full-time workers isn’t even back to where it was when Barack Obama took office, declining by 371,000 (115.839 mil then vs. 115,459 mil now.
  • Meanwhile part-time employment since the recession ended is up by 1.182 mil, and is up by 1.372 mil since Obama took office.

There’s no way to spin any of this FT/PT divergence as positive. The only thing one can do, as the press has done during the nearly four years it has unfolded, is to ignore it.

I won’t have time to do much more with this until either late this evening or tomorrow morning. But I believe I’ll be able to look at and clear comments from time to time, so feel free to chime in.

NewsBusted (110212)

Filed under: NewsBusted — Tom @ 8:28 am

Here goes:

TOPICS:
Halloween
Vice President Biden
Obama Campaign
Mitt Romney
Al Gore’s Current TV
NY Police Officer
Hillary Clinton
Rapper Gunplay
San Francisco Massage Parlor

Best Line: “Hillary Clinton is hinting that after the election she might stay on at the State Department. Well, y’know, if Mitt Romney lets her.”

The Obama Economy: Still Not Recovered

Filed under: Economy,Taxes & Government — Tom @ 6:59 am

Not even back to where we were when the recession began.

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This column was posted at PJ Media and teased here at BizzyBlog on Wednesday.

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On Friday, the government reported that the nation’s gross domestic product (GDP) grew at an annual rate of only 2.0 percent.

The establishment press thinks we’re supposed to be happy that it wasn’t the 1.8 percent analysts expected. Please. Over one-third of the reported growth came from increasesd federal defense expenditures, which may only have occurred because of the “need” to spend as much as possible before the September end of Uncle Sam’s fiscal year and the onset of sequestration. Additionally, nonresidential investment in the private sector, which is most definitely not “doing fine” as President Obama claimed in June, actually dropped.

Annual growth remains on a downward trajectory. So far in 2012, the economy has grown at an annual rate of 1.7 percent. Last year, it grew by 1.8 percent, and in 2010 by  2.4 percent.

Here’s a bone for the clowns in the Obama campaign like Stephanie Cutter who go on TV and blatantly lie about how the current economy is generating Reagan-like numbers. The economy under Ronald Reagan also saw declining annual growth, except for one “little” thing: GDP expansion went from an astonishing 7.2 percent in 1984 to a perfectly fine 4.1 percent in 1985 to a still pretty darned good 3.5 percent in 1986.

Several commentators, including the American Enterprise Institute’s James Pethokoukis, while accurately noting that the Reagan-era recovery saw growth which almost tripled what we’ve seen under Obama during the 13 quarters since the recession officially ended, understate this economy’s real-world underperformance and its negative impact on everyday people.

No less than insufferable Obama cheerleader Warren Buffett told CNBC in September 2010 that he didn’t consider the recession to be over more than a year after its official end. He then laid down his own benchmark for defining its conclusion:

I think we’re in a recession until real per capita GDP gets back up to where it was before (the recession began) … on any common sense definition, the average American is below where he was before, or his family, in terms of real income, GDP. We’re still in a recession. And, and we’re not gonna be out of it for awhile, but we will get out of it.

Guess what, pal? We’re not “out of it” yet:

RealPerCapitaGDPthru3Q12Oct28

Perhaps the Obamalover of Omaha thought that the economy would achieve this benchmark by now, and as such that his statement two years ago carried no political risk. Well sir, we’re still 1.5 percent below the the pre-recession per capita GDP peak. At the rate of growth seen in the past three quarters, we won’t get above it until the second quarter of 2014, five years after the recession officially ended. No post-World War II economy has performed this poorly after a recession.

By contrast, per capita GDP under Reagan took a mere three quarters to get back to its pre-downturn peak, and was almost 12 percent higher 13 quarters after that recession’s end:

RealPerCapitaGDPunderReagan

The chart shows why Reagan was able to ask Americans in 1984 if they were better off than they were at the beginning of his term. He already knew the answer; per capita GDP and real income were already far ahead of their pre-recession peaks by that summer. Under Obama, both statistics still trail.

Those who argue that the most recent recession was much steeper than the Reagan-era downturn totally miss the point in two ways. Most obviously, though the per capita GDP drop of 6 percent during the most recent recession is greater than the 4 percent drop during 1981-1982, the chart above shows that the explosive Reagan recovery would only have required a couple more quarters to make up that difference. A less obvious but more important point is that the Reagan downturn wasn’t as steep because the Kemp-Roth supply-side tax cuts which first took meaningful effect in 1982 cushioned the recession’s impact in arguably tougher circumstances, which included 13 percent inflation and interest rates topping 20 percent.

Despite Obama’s historic underperformance, Buffett continues to support Obama. That shouldn’t be a surprise, given how much one of his companies has benefitted from the Keystone Pipeline’s continued delay. Covering his tracks, Buffett announced his support for the pipeline in May. By that time, his opinion didn’t matter, but I guess his public perception did.

Thanks to four years of out-of-control spending and industry-stifling top-down control, the worst economic stewardship by a presidential administration since Franklin Delano Roosevelt lengthened the Great Depression by implementing eight years of out-of-control spending and industry-stifling top-down control continues. The misery won’t stop if Barack Obama wins reelection. The Wall Street Journal reviewed the President’s “Plan for Jobs and Middle-Class Security” and pronounced it Obama’s “Second First Term.”

We won’t even be that lucky if Obama wins a second term. We really don’t want to see what he and his minions would do once he and they are unencumbered by the need to face reelection.

Friday Off-Topic (Moderated) Open Thread (110212)

Filed under: Lucid Links — Tom @ 6:05 am

Rules are here. Possible comment fodder may follow later. Other topics are also fair game.

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Positivity: Catholic Charities works to assess, relieve damage from Hurricane Sandy

Filed under: Positivity — Tom @ 6:00 am

From Washington:

Oct 31, 2012 / 05:17 pm

Catholic Charities agencies along the East Coast are working to assess the damage left by Hurricane Sandy and respond to the needs of those left in its wake.

Kevin Hickey, executive director at Catholic Charities of Camden, N.J., told CNA on Oct. 31 that while there is significant flooding and damage throughout the six southern counties that make up the diocese, “the main focus is the coast.”

“The devastation there is enormous,” he said, especially on the barrier islands of Ocean City and Atlantic City, which took a direct hit from the storm. Because access to the two sites is restricted, emergency workers cannot get there and do not know when they will be able to do so.

Hickey added that Catholic Charities has an office in Atlantic City, but said that he is “fairly confident that is underwater.”

New Jersey is one of several states that were devastated by Hurricane Sandy, a massive storm that made landfall in the U.S. on Oct. 29 and proceeded to sweep through the northeast, killing dozens and leaving some 6 million people without power.

Hickey predicted that there will be “a tremendous need” for food, as well as water and shelter, in the coming days. More long-term needs include arrangements for those who were evacuated from the barrier islands, he said, adding, “I think that’s going to become a challenge.”

One estimate predicted that power would be restored to most of the mainland by the weekend, but there is less certainty about when it will be restored to the barrier islands. …

Go here for the rest of the story.