'Palm' pid='11043' datel Wrote:STP; that's not the point crooze is making. This guy (like many businesses including the one I am involved with) is looking ahead to what's coming and saying it will get increasingly tough to fund BOTH Obamacare (Obama- "It's not a tax", Supreme Court- "It IS a tax."
, increased business/personal taxes and deal with inflation when it comes (and it will come eventually). What businesses and individuals that understand all of the pieces are seeing is that under the CBO's calculations after studying the proposed Obama 2013 budget (which has little support anywhere) deficits:
"In all, between 2013 and 2022, deficits would total $6.4 trillion (or 3.2 percent of total GDP projected for that period), $3.5 trillion more than the cumulative deficit in CBO’s baseline."
And:
"Federal debt held by the public would increase from $10.1 trillion (68 percent of GDP) at the end of 2011 to $15.2 trillion (77 percent of GDP) at the end of 2017 and then to $18.8 trillion (76 percent of GDP) at the end of 2022 (see Table 2). Under the assumptions of CBO’s current-law baseline, debt held by the public would increase more slowly, ending 2022 at $15.1 trillion; as a percentage of GDP, however, such debt would decline to 61 percent by the end of 2022."
That's insane. He came into office promising to cut the deficit in half by the end of his first term and this is what we get. A couple of comments from the CBO that show that this administration doesn't get it when projecting out how things will go. Obama projects that even though all this will be heaped upon individuals and corporations, personal incomes and corporate profits will just go up and provide more tax revenues. Wrong. Per CBO:
"Specifically, CBO’s economic projections imply less revenue than the Administration’s do largely because CBO projects that wages and salaries—the most significant component of the tax bases for individual income and payroll taxes—will be about $3.2 trillion (or 3 percent) lower over the next 10 calendar years than the Administration projects. In addition, CBO projects that domestic economic profits—the main component of the tax base for corporate income taxes—will be $1.5 trillion (or 8 percent) lower than the Administration projects."
Yesterday Darden which is an owner of several restaurant chains, stated that it is testing out cutting a large part of its workforce to part-time status because of its projected effects of Obamacare (which the president stated in the debate he has grown to like that label). This stuff is very real and most anywhere you look companies are saying they are holding off in hiring due to lack of enthusiasm from consumers and increased costs/taxes. People are saying that corps are flush with cash and should be hiring more. Guess what? Without consumer confidence about the economy companies don't project growth. Without growth there is no reason to hire. Corps look ahead and do not like what they see. I live in an area of the US where things are pretty good, but when doing our recent projections for the next few years, we are projecting no growth, or very little. And we base our projections on major industry forecasts for our state.
The future is bleak under these policies, and the change that was promised didn't happen, and it's not seen as happening, except for the worse. Do you see otherwise? He came in on a promise of change and deficits cut in half, also jobs for the young, etc. That has not happened and is not even close. Those youth are very disenchanted (My kids among them; even though they have jobs, they know many of their friends who are still searching) and many of them are saying they may not vote this time around. I think he will be ushered out because he's far from delivered. And wasn't it he that said that if he didn't deliver, he would be a one-term president (His quote)? It's time he at least delivers on THAT promise.
"Darden, which operates more than 2,000 restaurants in the U.S. and Canada, employs about 180,000 people. The company says about 75 percent of its employees are currently part- timers"
http://www.heraldtribune.com/article/20121010/ARTICLE/310109985
So 75% of Darden's employees are already part time and thus unlikely to have any benefits today. Kind of like the Walmart of food services. Somehow though Darden is able to maintain a business in Canada even though all of their Canadian employees have health care. I suspect Darden's announcement of record profits yet simultaneous decision to cut portion size is somehow something the First Lady can be blamed for as well.