CBO Projection Underestimated Unemployment Rates

In the back of my mind, I have been hoping that maybe I am wrong, that I have a pessimistic view of the world, and things are actually going to get better sooner than later.

It sucks being right…

Elmendorf Sees Even Bleaker Jobless Outlook

CBO Director Elmendorf said today the country has not yet seen the worst of joblessness, despite some encouraging signs of economic growth.

Speaking at the American Association for Budget and Program Analysis’ fall conference, Elmendorf said the CBO projection of this past summer, which saw the unemployment rate peaking at 10.5 percent next year, underestimated the autumn’s rise in jobless numbers. The rate hit 10.2 percent in October.

“We are weighing our precise forecast going forward,” Elmendorf said, adding that the employment picture is expected to get worse before it gets better.

CBO has forecast that it will take years before unemployment falls to a “sustainable” level of 5 percent, Elmendorf said, because the current jobless numbers are so high.

“If one judges the pain of a recession by the excess of the unemployment rate over the long-run level … this picture is very clear that most of the pain of the recession is ahead of us, not behind us,” he said.

His comments come as Democrats consider new legislation to stimulate job growth.

And they all said no more stimulus packages.  Once again, it sucks being right.

Obama DeathCare Roundup: Where To Start?

The circus in Washington surrounding this issue continues, and I am wondering if anybody else is asking the important question, “Why is this such an emergency when we know that this healthcare reform is not going to reduce the deficit, create jobs, or help the economy?”  It is more than obvious that this is just another plank in the fascist platform that is called “Government Takeover” by the liberal left wing of the Progressive Socialist Democratic Party formerly known as the party of slavery; The Democrats.  Don’t believe me, look it up here and here!

Remember Bambi and Nancy keep talking about the three fronts: Energy (Cap and Trade), Education (Americorps and HR3221), and Healthcare reform (Obama DeathCare).  They just didn’t tell you that they were going to take over large segments of the economy like banks, financial institutions, car companies, insurance companies, set pay for executives, appoint umpteen czars, etc.  If you are thinking this all just happened by accident and some cosmic perfect storm created this, go here and find out what has been going on under your noses.

Now, let’s take two steps back to 7.22.09 and this post: CBO Director Summoned To White House: More Chicago Thuggery?

Yesterday, the director of the CBO, Douglas Elmendorf, (also a former senior fellow at the Brookings Institute 2007-2009), was “invited” to the White House to meet with the resident’s “key budget and health advisors”, and outside experts to discuss “achieving cost savings in health reform”.

I am supposing that people would not be making such an issue about this visit if it weren’t for Bambi’s Chicago thuggery record.  Here are just a few examples and don’t be fooled by the titles:

In the Washington Times, 7.28.09:

CBO boosts Obama’s health plan

President Obama and his Democratic allies, scrambling to broker a health care deal Monday, finally got an upbeat assessment from Congress’ official scorekeeper when it said the plan for government-run coverage would not force out private insurers.

House Majority Leader Steny H. Hoyer trumpeted the report from the Congressional Budget Office, Congress’ nonpartisan budget analyst, that said private insurers could survive competition from a government health insurance option – contradicting a chief criticism from Republicans.

“Now we’ve heard that the reform will represent a government takeover of health care. A point of fact: The opposite is true,” said Mr. Hoyer, Maryland Democrat.

Republicans have said the public health insurance option, which would likely have low reimbursement rates, would drive private insurers out of business. They argue that once private insurers are gone, the public option would be the only health insurance option. (emphasis mine)

Republicans touted a report from the Lewin Group, a health research firm owned by an insurance company, that predicted 100 million people out of the 160 million now covered by employer-sponsored insurance would go to the government coverage.

Not so fast Bambi.  This video I put up a few days ago with the very words from the democrats horses’ mouths:

The Truth About Obama Health Care Reform

Want to know the truth about the strategy to move every American onto single payer health care where a bureaucrat decides whether you live or die?  Nothing says “the truth” like tape; always get tape:

Nothing says truth like dems talking about slowly and strategically moving everybody toward government controlled single payer health care because private insurers won’t be able to compete.  I KNOW THEY WON’T, I work for a small business that is getting creamed by health insurance costs.  If it comes down to the company surviving by moving everybody to the government plan or going bankrupt, I KNOW what my employer will do.

Moving on; Senator DeMint seems to be the only public person besides Sarah, Rush and Glenn to be doing a damn fine impression of Paul Revere, and raising the alarm about what is happening with the snake known as the Obama administration.

S.C. Senator Is a Voice Of Reform Opposition

DeMint a Champion Of Conservatives

As anxiety about health-care reform was being expressed Monday on the medical center’s campus in this conservative suburb of South Carolina’s capital, Sen. Jim DeMint (S.C.) was sharpening his opposition to President Obama’s attempt to overhaul the health-care industry.

The Republican has used fiery rhetoric to create a sense of urgency on the matter, making himself a champion of conservatives in the process.

“I’m swinging on this issue,” DeMint said in an interview. “If I can stop a government takeover, I will. . . . It’s not personal. It’s not political. It’s about stopping a bad policy.”

Republican Senate leaders have distanced themselves from DeMint, saying they are opposed not to health-care reform but to the proposals Democrats are pressing. Sen. George V. Voinovich (Ohio), a retiring moderate, told colleagues Monday he thinks DeMint and other conservatives are to blame for the party’s downfall. And none of DeMint’s colleagues has endorsed his Waterloo comment.

Excuse me? Who decided John McCain was the champion of the Republican Party, or Colin Powell, or Michael Steele; none of which have any cajones to slow the momentum of the train wreck occurring to our nation?  I still want to know what the Dems promised the Repubs to allow Bambi in office – was it this deathcare or Sotomayor?

The Democratic National Committee seized upon the remark, airing a television ad on cable stations here accusing DeMint of “trying to kill health-care reform” and “playing politics with health care.” The party announced on Monday that it had extended the ad through Friday, and a Democratic official said DeMint’s outspokenness is helping to recruit candidates to challenge him in 2010 when he faces voters again.

“We’re certainly not trying to quiet Jim DeMint,” DNC spokesman Brad Woodhouse said. “He’s given us a gift because we’re able to go to other Republican members and say, ‘Do you agree with Jim DeMint that health care should be used to break the president politically?’ I don’t think it at all has been helpful to the Republicans.”

So the dems are attacking Sarah Palin, Jim DeMint and whoever else is trying to expose the lies of the Obama Administration and his zombies in congress.

DeMint, 57, who before entering politics owned a small marketing business and struggled to negotiate affordable health-care coverage for his dozen or so employees, said fixing the system has been one of the main causes of his career. But he considers Democratic plans a threat to freedoms Americans treasure.

Since arriving in Washington in 1999 as a House member, DeMint has been on a crusade against the bureaucracy of the federal city. He sought to abolish the federal tax code and once staged a rally in his home town of Greenville, where he tossed all 17,000 pages of the Internal Revenue Service tax code from a hot-air balloon.

“I’m working with a lot of people up here [in Washington] who don’t really understand the health insurance market,” he said. “I don’t think anyone in his Cabinet, or Obama himself, understands the business. I’ve been around doctors all my life.

“We need some real health-care reform,” he added. “So, Mr. President, get your hands off of my health care and let’s make health insurance work better.”

James L. Guth, a political scientist at Furman University, said of DeMint: Health care “in many ways kind of crystallizes all of the concerns he used to start with. His first campaign slogan was ‘Bring Freedom Home,’ and he sees all of these government programs as a gradual encroachment of American freedom.”

Some medical professionals here in Lexington County agree.

“Whenever I mention it to patients, they are afraid,” said John G. Black, a longtime internist at Lexington Medical Center and president of the South Carolina Medical Association. “You could go to any state in the union and you could find patients and physicians who are afraid they will lose freedom in making medical decisions.”

I wonder what the rest of the day will bring…

CBO Director Summoned To White House: More Chicago Thuggery?

CBO Director Summoned To White House: More Chicago Thuggery?

elmendorfd_portraitYesterday, the director of the CBO, Douglas Elmendorf, (also a former senior fellow at the Brookings Institute 2007-2009), was “invited” to the White House to meet with the resident’s “key budget and health advisors”, and outside experts to discuss “achieving cost savings in health reform”.

I am supposing that people would not be making such an issue about this visit if it weren’t for Bambi’s Chicago thuggery record.  Here are just a few examples and don’t be fooled by the titles:

Republicans Assail President Obama Meeting with Congressional Budget Office Director As Inappropriate

Republicans on Wednesday criticized as inappropriate a meeting President Obama held Monday with the director of the Congressional Budget Office, Douglas Elmendorf.

Elmendorf, a Democratic appointee, has been a thorn in the side of President Obama and congressional Democrats for the way he has analyzed health care reform legislation. In their view, Elmendorf hasn’t sufficiently given their health care reform proposals enough credit for cutting costs – which has caused them political problems in getting the legislation passed. Last week, frustrated at one analysis by Elmendorf, Senate Majority Leader Harry Reid, D-Nev., snapped, “what he should do is maybe run for Congress.”

“No one blames Mr. Elmendorf for accepting an invitation from the President of the United States,” House Minority Leader John Boehner, R-Ohio, said in a statement.“The issue is whether it was appropriate for the White House to invite him to discuss pending legislation before Congress at all.”

CBO is tasked with providing “objective, nonpartisan, and timely analyses to aid in economic and budgetary decisions on the wide array of programs covered by the federal budget.”

The White House flatly rejected the idea that there was anything untoward about the invitation or the meeting, which took place on Monday for just under an hour. In addition to the president and Elmendorf, present in the meeting were White House officials such as Assistant to the President for Legislative Affairs Phil Schiliro, Director of the White House Office of Health Reform Nancy-Ann DeParle, Office of Management and Budget director Peter Orszag (a former CBO director himself), National Economic Council Director Larry Summers, chair of the Council of Economic Advisers Christy Romer, senior adviser David Axelrod, and press secretary Robert Gibbs.

Others were there as well, including Department of Health and Human Services adviser Meena Seshamani, Harvard University economist David Cutler and Alice Rivlin of the Brookings Institute, who was founding director of CBO from 1975-1983.

Wow, a heck of a list of heavy hitters.  Once again, for those of you new to the Monster, check out the links on the backgrounds of these people.

Phil Schiliro, Nancy-Ann DeParle, here and here, (check out JP Morgan Chase and Covington & Burling – a Pilgrims Society law firm), Peter Orszag, Larry Summers, Christy Romer, David Axelrod, Meena Seshamani, David Cutler, Alice Rivlin (a former Vice Chairman of the Federal Reserve), and not to be left out, the Brookings Institute, here and here.  If you haven’t taken the time to research the Brookings Institute – now would be the time.  Brookings is tied to everything.

From my The Fed page:

Paul Warburg became known as a persuasive advocate of central banking in America, in 1907 publishing the pamphlets “Defects and Needs of Our Banking System” and “A Plan for A Modified Central Bank”. His efforts were successful in 1913 with the founding of the Federal Reserve System. He was appointed a member of the first Federal Reserve Board by President Woodrow Wilson, serving until 1918.

In 1919 he founded and became first chairman of the American Acceptance Council. He organized and became the first chairman of the International Acceptance Bank of New York in 1921. International Acceptance was acquired by the Bank of the Manhattan Company in 1929, with Warburg becoming chairman of the combined organization.

He became a director of the Council on Foreign Relations at its founding in 1921, remaining on the board until his death. From 1921 to 1926 Warburg was a member of the advisory council of Federal Reserve Board, serving as president of the advisory council in 1924-26. He was also a trustee of the Institute of Economics, founded in 1922; when it was merged into the Brookings Institution in 1927, he became a trustee of the latter, serving until his death.[8][9]

So you see the connections from the past to the present through Aldrich, Rockefeller, Warburg, The Council On Foreign Relations and the Brookings Institute?

But back to the thuggery story:

“The President invited the director to the White House to discuss health care reform and reducing health care costs,” said White House spokesman Reid Cherlin.

Gibbs described the meeting as a way to discuss ways to reduce health care costs, with no discussion of the CBO methodologies that have annoyed Democrats in their drive to pass health care reform legislation.

Former CBO director Douglas Holtz-Eakin, a Republican appointee who advised the 2008 presidential campaign of Sen. John McCain, R-Ariz., said that he never had a private meeting at the White House during his time helming CBO, from 2003 to 2005.

“The only appearance could be that they’re leaning on him,” Holtz-Eakin said. “CBO was created for Congress, for independent analysis. The White House did him (Elmendorf) a terrible disservice.”

This is what the CBO has said about Bambi’s DeathCare:

CBO: Health care reform to increase federal cost

Congress’ budget watchdog warned Thursday that Democrats’ health care bills would not lower skyrocketing costs and would drive up government spending, undermining one of President Obama’s chief arguments for the overhaul.

Congressional Budget Office (CBO) Director Douglas Elmendorf said the plans already released by the House and Senate would keep costs rising at an unsustainable pace, fueling criticism from Republicans and some conservative Democrats that the overhaul will bankrupt the country.

I keep stating that the takeover of this country started some 100 years ago and finally people are catching up.  The Pilgrims are behind the CFR, Brookings, AIG, and numerous other think tanks.  Stop worrying about George Soros.

UPDATE: Cavuto Video About This Meeting:

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