US Action News

In the past two decades the economy was sparked by consumers who spent far more than their income by running up record debts and converting house price appreciation into cash. Those days are over.

Van Jones a self avowed communist and former White House staffer tells an audience that Paul Ryan’s budget will destroy more infrastructure than al-qaeda. Jones was Obama’s “green jobs” czar who is a spread the wealth (take it form those who have it and give it to people you like) activist that now works for the Center for American Progress which advises Obama.

The bad economic news just keeps rolling in. It is almost as if someone has slammed on the economic brakes.

Rep. Paul Ryan talked about downgrades of the United States’ credit ratings, and why it is more imperative than ever to get spending under control. The House Budget Committee Chairman said he sees the issue of the debt ceiling as “an opportunity” because neither the president nor the Senate have been able to fix the budget thus far.

Many of those on the extreme left oppose reforming Medicare for another reason entirely: they desire a state-run monopoly of healthcare. They prefer a socialized healthcare model. To attain that goal, the left needs to merely block reforms to Medicare. Gridlock and stalemate will assure Medicare’s eventual bankruptcy and therefore its subsequent nationalization (a la Fannie Mae and Freddie Mac).

Peter Yastrow the world’s largest LIBOR trader discusses the stock market plunge, the housing drag on the economy, and the federal reserve’s efforts to save the economy. – video

The Obama Administration looks upon schools and colleges as giant reservoirs of young people who can be indoctrinated with “social justice” (i.e., America is somehow an oppressive, unjust society), multiculturalism instead of patriotism, and diversity in moral and immoral behaviors.

Peter Schiff explains how current government policies are leading us to a depression worse than the Great Depression and possibly coupled with hyper inflation. He says there never was a recovery, just an artificial bump from massive spending of printed money.

“I don’t believe the president has a clue as to what makes the free market tick. They have no confidence in his expansionist government policies and that’s whats killing the private economy.” – Rep. Joe Walsh on Cavuto

The data has continued to come in weak, missing economic forecasts left and right. Just in the last few days we’ve gotten more of it, so we’ve updated the original list. – Business Insider