Rick Santelli's Chicago Tea Party |
| Posted: 27 Mar 2009 07:00 AM PDT The Fed’s preferred gauge of prices, which excludes food and fuel prices, rose 1.8% in February. This coincides with two, consecutive increases in the Consumer Price Index (CPI). In addition, AAA announced that gasoline prices have risen 10 cents in the last month. Is this the beginning of a major, inflationary event? Top [...] |
| Illinois to raise income tax 50% Posted: 26 Mar 2009 01:08 PM PDT Illinois is running a massive budget deficit. Instead of making the painful, but necessary spending cuts to get its budget under control, the new Governor is going to raise income taxes, corporate taxes, cigarette taxes, and automobile licensing fees. Illinois isn’t the only state adopting major tax hikes. California, already in a record breaking [...] |
| “Audit the Fed” Bill now has 44 co-sponsors Posted: 26 Mar 2009 12:47 PM PDT The Federal Reserve Transparency Act (HR 1207) now has the support of over forty Democrats and Republicans in the House. The Federal Reserve, responsible for our monetary policy and the health of the entire financial system, has presided over at least six, major “Boom-Bust” cycles since its inception in 1913. However, it is virtually unaccountable [...] |
| Congress reviewing college football rules Posted: 26 Mar 2009 12:28 PM PDT While the American people are suffering from the worst economic downturn since the Great Depression, Congress is meeting to decide how best to decide the college football national championship. So, don’t worry about the nearly $2 trillion budget deficit, $11 trillion national debt, or 650,000 job losses per month. Congress has all that under control. [...] |
| Stimulus job promise can’t even be measured Posted: 26 Mar 2009 12:16 PM PDT The Obama administration has predicted that 3.5 million jobs will be created and/or saved by its nearly $1 trillion stimulus package. However, a slew of economists have this to say regarding this seemingly bold claim: “Very uncertain” “Difficult to distinguish among alternative estimates” “Subject to substantial margins of error” As the ABC News article states, “Assumptions are piled [...] |
| US Postal Service: Next on the bailout list? Posted: 25 Mar 2009 12:19 PM PDT After losing $2.8 billion last year, the agency is expecting a much bigger loss in 2009. Postmaster General, John Potter, said, “Without a change, we will exhaust our cash resources…We can no longer afford business as usual.” The USPS has begun a number of cost cutting measures and has even proposed delivery cutbacks, as [...] |
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