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Lower Pay Is Dimming Outlook

Consumer confidence drops because of hike in Social Security tax

January 30, 2013

WASHINGTON (AP) — An increase in Social Security taxes is leaving Americans with less take-home pay — and a more negative outlook for the U.S. economy....

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Jan-30-13 4:23 AM

this was one tax cut that should not have happened..SS was helped into finanical trouble because of the cut..but it did "instill confidence" and more money in people's right after the elections they pull the rug out from under reality is setting in..this is just the start of much higher taxes for all..not just the "rich"... the higher stealth inflation tax is one that will get everyone...even the ones that pay no income reality sets in, more aren't going to like it.

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Jan-30-13 5:14 AM

The Obama economy. High taxes, high cost health care , high unemployment, high underemployment. Welcome to the liberal agenda. This country deserves every miserable day of Obama.

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Jan-30-13 6:53 AM

really,who is obama working for?not the working group.we're just getting drug through the mud by this whole system.this isn't what i call doing your job.stop the importing until we get back on our feet.why do we have to kiss these other countries butts while we are struggling here?obama may have brainwashed our young people into voting for him but it sure does look like they are going to be least in four years we'll be rid of him.if we could just get rid of the rest of this failing government common sense at washington has to be doing flip-flops in his grave.

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Jan-30-13 7:34 AM

Agree with Log, but doesn't this PROVE that the BUSH TAX CUTS WORKED???

Even a small amount of NON-INCOME tax increase (SSI)around 2% is causing NEGATIVE outlook on the US Economy???


PROVES that SPENDING CUTS are the ONLY WAY to cure the huge deficit problem.

It would take a 20% across the board increase in income taxes to make a dent in the deficit, but the economy would TANK with that hit.

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Jan-30-13 8:12 AM

I would take anything The Conference Board says with a grain of salt. It remains essentially a union of employers, about a notch above the insidious Chamber of Commerce.

I prefer to look upon the U.S. Bureau of Labor Statistics for credible indicators of economic growth.

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Jan-30-13 8:47 AM

"Demagoguery works well in bad times, but it’s harder to stoke fear and anger when the stock market is at a five-year high and the private sector has been adding jobs for nearly three years."

Milbank. Washington Post. 01/30/13

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Jan-30-13 9:19 AM

lets reduce the amount that people pay into ss taxes because its running out of money already and this will help in long run. Really thats Washington finances for you, lets raise taxes and healthcare costs on smokers but dont dare say anything about the overwieght people that cost our system more than smokers drug addiction and 1 more I cant remember,Ipay like 3 dollars a pack in taxes for my cigs and yes I have tried many times to quit and still smoking,I dont like it but I'm addicted to it,lets put some of the weight on the overweight for the taxes where it should be,look at all the problems caused by overweight compare the 2 and you will see what I mean. When govt takes your money they spend it anyway they want no matter what they said to begin with ,ss was to be put in seperate acct and left alone but they couldnt keep grubby hands off of it, why are roads bad when we pay all these taxes on gasoline to upkeep them, same reason the kitty was raided

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Jan-30-13 9:47 AM

dim leaders make for dim future.too many lost politicians in there at one's a good thing that the private sector is trying to save this place.the working group are the only people interested.we're the one's that pay the taxes.we ask for nothing free.our parents didn't teach us that.once again politicians,you all stink.

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Jan-30-13 10:14 AM

Stock markets like stability whether or not everyone agrees with the direction of it.

Private sector adding jobs for three years is like saying water falls on the ground when it rains.

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Jan-30-13 12:02 PM

boozerboy "I prefer to look upon the U.S. Bureau of Labor Statistics for credible indicators of economic growth."


CNBC 1/30/13

"The U.S. economy posted a STUNNING drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles."

BBBWhahahahahah! Just as predicted, AFTER the ELECTION, THE TRUTH of the ECONOMY starts being reported again.

And the truth is: 4 years of OBAMANATION and STILL {bleep}ing SUX!!!!

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Jan-30-13 1:14 PM

And that GDP DISASTER happend BEFORE the tax increase!!!

What is Q1 2013 going to look like???


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Jan-30-13 1:49 PM

this doesn't impact individuals who don't work and don't pay any financial interest. The one who gets everything from somebody else.

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Jan-30-13 1:50 PM

you don't need money. the one selling you something is the one with need for money. they could give it to you free it they chose.

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Jan-30-13 1:57 PM

to quit smoking. I wrapped several layers of duct tape arround my ciggarett pack. I despise candy, so I made a rule I had to eat something sweet whenever I smoked. Finally, I tossed my smokes out the window on a long trip and pledged to apply the same money to a car of my choice. it worked. Felt better in debt to my dream car than a tobacco warehouse owner.

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Jan-30-13 1:59 PM

Hillary on TV giving her regular " WE want " talks. wonder after she leave the cabinet position she will still try to speak for America when she talks ?

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Jan-30-13 2:01 PM

Walks-- Agree 100%. Why would those who don't work care? Now, if they put a high tax on things liked by those people ie. Sports, lottery tickets, tobacco, alc. et. they would scream.

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Jan-30-13 2:04 PM

they say the economy is shakey. they can pass a bill that helps the working class avoid late fees on their bills. Require all mployers to pay the worker electronic deposit same day they work. Late fee could apply to employer who is late paying the debt to the worker.

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Jan-30-13 2:07 PM

I know I know. I am working on it. your thoughts become your words, your actions, your character, destiny. need a big bus for all of us who are flawed.

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Jan-30-13 4:45 PM

@walks: re Hillary. Isn't she the one who started the saying: "The majority of Americans feel..." and it always coincided with what she was pushing. Gotta hand it to the libs. They have a better PR machine.

didjaevernotice that liberal Expresidents NEVER stop commenting on events? Hillary will be the same.

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Jan-30-13 5:42 PM

the ones that pay no income tax or payroll tax due to not working, but collecting a Govt. check, will care about the same time that people who think the stock market will just keep going up..the market is going to have a big correction down about like 1987...but this time the Fed. bank will inject even larger amounts of funny money from thin air..this is when the inflation will be felt by all..Including the free for doing nothing croud...

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Jan-30-13 5:43 PM

Hey, Nostradoofus (aka wRAT)!

'President Obama is riding a wave of personal popularity into his second term, with his highest favorability ratings since his first year in office, according to a new Washington Post-ABC News poll.'


Bask in his glory duhWrat! You live in amazing times!

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Jan-30-13 6:44 PM

Bring it, Blover:

President Barack Obama averaged 49.1% job approval during his first term in office, among the lowest for post-World War II presidents. Only Jimmy Carter and Gerald Ford had lower job approval averages. Obama’s first-term average is most similar to Bill Clinton’s. Lyndon Johnson, John Kennedy, and Dwight Eisenhower were the most popular first-term presidents.

Obama’s first-term approval average, like those of most presidents with lower first-term averages, was likely dragged down by a sluggish economy. Clinton and Reagan saw higher second-term approval as the economy improved. Obama’s approval rating has also shown improvement, with a 48.1% average in his fourth year in office after a 44.4% average in his third year."

{Bleeping} IDIOT!


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Jan-30-13 7:18 PM

Has anyone took notice to the fact gasoline prices have went up .20 a gallon since the inauguration?

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Jan-30-13 7:32 PM

Rick Santelli made a stunning observation Wednesday about the shocking report that the economy actually shrunk in the fourth quarter last year.

"We are now Europe," he declared on CNBC's Squawk Box.

Read more: *******newsbusters****/blogs/noel-sheppard/2013/01/30/rick-santelli-responds-negative-gdp-report-we-are-now-europe#ixzz2JVbQ1C5B

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Jan-30-13 7:33 PM

"Hey Joe," Santelli said, "when you act like Europe, you get growth rates like Europe, and our discussions with economists sounds like we're in Europe. They have the same discussions constantly."

"They’re always doing the right thing," he continued. "They’re always thinking they know better. And this is the kind of growth. We have become Europe. We are now Europe."

Steve Liesman pushed back, “We reduced federal spending, government spending by 15 percent. Which part of that’s not Europe don’t you get?”

“And why do we need to reduce government spending?” asked Santelli. “Because we run trillion dollar deficits for crying out loud.”

Read more: *******newsbusters****/blogs/noel-sheppard/2013/01/30/rick-santelli-responds-negative-gdp-report-we-are-now-europe#ixzz2JVbhL3Jz

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