News

United States receives another credit downgrade under Obama’s leadership

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From Breitbart. (H/T ECM)

Excerpt:

Credit rating agency Egan Jones downgraded the United States Thursday on concern over the sustainability of public debt. Egan Jones is one of the most important ratings firms in the world; they lowered our credit level from AA+ to AA. The firm reduced America from AAA to AA+ in July 2011, just before Standard & Poor’s did the same.

Egan Jones warned. “Without some structural changes soon, restoring credit quality will become increasingly difficult . . . without some structural changes soon, restoring credit quality will become increasingly difficult.” They added that there was a 1.2% probability of U.S  default in the next 12 months.  The company cited the fact that the US’s total debt, which now equals its total GDP, is rising and soon will eclipse the national GDP; the company sees the debt rising to 112% of the GDP by 2014.

The debt grew 23.6% the first two years of Obama’s presidency. When the debt is more than 100% of the GDP, treasury notes fall, which is a problem because they are used for transactions between financial institutions. This, in turn, could raise rates on mortgages and other loans, which would discourage growth in the economy, as well as state and local governments feeling the pinch, which could eliminate more services.

Paul Ryan has offered a debt reduction plan which would reduce the current six federal income tax rates to just 2 — 10% and 25%. His plan would also reduce the federal corporate income tax rate from 35% to 25%, the same rate as the international average. Because of the additional revenue accrued from economic growth as a result of the tax reductions, federal revenues could double over the next 10 years; the added revenue  would be more than the entire GDP of almost every other country in the world.

Meanwhile, President Obama continues to vilify Ryan’s ideas, saying they are, “a Trojan horse, disguised as deficit-reduction plans . . . thinly veiled social Darwinism.” And White House projections show the federal debt’s ratio to gross domestic product growing to a record 124 percent in 2050 under Obama’s plan.

He just wants to keep spending and spending and spending money we don’t have. Money that he didn’t earn. Money that people not even born have not yet earned.

News

Number of Americans not in labor force hits record high of 87,897,000

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Employment to population ratio down 4.5% since Democrats took the House and Senate in January 2007
Employment to population ratio down 4.5% since Democrats took control of the House and Senate in January 2007

The Obama administration has pursued an economic policy of raising taxes on job creators, imposing regulatory burdens on businesses and shoveling mountains of taxpayer money into the hands of green energy firms which are often linked to Democrat fundraisers. Does it work to create jobs? Let’s see.

A record number of Americans are unemployed

From Breitbart.

Excerpt:

Amid disappointing unemployment numbers that fell 80,000 jobs short of projections, another number is raising eyebrows: the number of Americans not in the labor force has hit a record high 87,897,000.

This figure explains why overall unemployment dropped from 8.3% to 8.2%, as the Department of Labor’s unemployment figure does not include people who have given up hope and are not actively seeking employment.

When the number of individuals who have stopped looking for a job and/or who are working part-time but desire full-time employment is included–a figure known as the “underemployment rate”–real unemployment stands at 19.1%.

If you want to know if the President is doing a good job of creating jobs, just count the number of people who are unemployed. If the number of people who are unemployed is at a RECORD HIGH, then you need to elect a new President. Preferably someone who understands basic economics.

The real unemployment rate is 14.5%

From the American Enterprise Institute.

Excerpt:

Recall that back in 2009, White House economists Jared Bernstein and Christina Romer used their old-fashioned Keynesian model to predict how the $800 billion stimulus would affect employment. According to their model—as displayed in the above chart, updated—unemployment should be around 5.8% today.

But the true measure of U.S. unemployment is far worse:

1. If the size of the U.S. labor force as a share of the total population was the same as it was when Barack Obama took office—65.7% then vs. 63.8% today down from last month—the U-3 unemployment rate would be 10.9%.

2. But what if you take into the account the aging of the Baby Boomers, which means the labor force participation (LFP) rate should be trending lower. Indeed, it has been doing just that since 2000. Before the Great Recession, the Congressional Budget Office predicted what the LFP would be in 2012, assuming such demographic changes. Using that number, the real unemployment rate would be 10.5%.

3. Of course, the LFP rate usually falls during recessions. Yet even if you discount for that and the aging issue, the real unemployment rate would be 9.4%.

4. Then there’s the broader, U-6 measure of unemployment which includes the discouraged plus part-timers who wish they had full time work. That unemployment rate, perhaps the truest measure of the labor market’s health, is still a sky-high 14.5%.

5. The employment-population ratio dipped to 58.5% vs. 61% in December 2008. An historically low level of the U.S. population is actually working.

People keep talking about intelligent Barack Obama is. But shouldn’t we judge a person’s intelligence based on what they can produce? If you measure Obama’s intelligence based on his results – adding trillions and trillions of dollars to the debt while lowering the number of people who have jobs to a record low – then a fair-minded observer would say that Barack Obama is a person of low intelligence. He simply is out of his league. He would be out of his league if he tried to run a lemonade stand. If no one – Republican or Democrat – would hire this man to work in a private business that they owned, why would we ever elect him to be President?

Commentary

What does “the resurrection” mean to Jewish theologians?

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Here’s a helpful post from Eric Chabot talks about this and other interesting topics related to the resurrection.

Excerpt:

Where do we see resurrection in the Hebrew Bible?

As just stated, belief in a resurrection of persons from the dead are seen in eight passages: (Job 19:26; Ps. 17:15; 49:15; 73:24; Is. 26:19; 53:10; Dn. 12:2;12:13). The resurrection terminology is seen in two places (Ezek. 37:1-14; Hos. 6:2) to show a national and spiritual restoration brought about by the return from the exile. As far as the nature of the future bodily resurrection, it may involve a corpse or the receipt of a material body comparable to the present physical body (Job 19:26; Is. 26:19), or it may be a matter of transformation (Dn. 12:2-3 and perhaps 12:13); or glorification after reanimation, in the case of the righteous.

As far as the function of the resurrection, it may be personal vindication (Is. 26:16; 53:10-12). Resurrection may also have a function in relation to reward or punishment (Dn. 12:2; 12:13), an assumption to heaven and enriched fellowship with God (Ps. 49:15; 73:24,26), or preface to the beatific vision of God (Ps. 17:15 and possibly Job 19:26). (1)

The Greek word for resurrection is “anatasis” which means “a raising up” or “rising.” There are resuscitations in the Tanakh such as the example of Elijah and Elisha raising a person from death (1 Kings 17-23; 2 Kings 4:34-35). While these figures may have been raised in a resurrection sense, they were not raised immortal in the same way Jesus was.

Extra-Biblical Passages on Resurrection

There are also extra-biblical passages that speak about the resurrection (Enoch 92:2; 4 Ezra 7:32; Enoch 91:10; 2 Maccabees 7:9; 14; 28-29). Even the The Messiah Apocalypse, which is dated between 100 and 80 B.C.E mentions resurrection: “He [God] frees the captives, makes the blind see, and makes the bent over stand straight…for he will heal the sick, revive the dead, and give good news to the humble and the poor he will satisfy, the abandoned he will lead, and the hungry he will make rich.” (2)

In the Rabbinical literature there are explicit teachings on the resurrection. It says in the Mishnah 10.1, it says, “All Israelites have a share in the world to come; … and these are they that have no share in the world to come: he that says that there is no resurrection of the dead prescribed in the Law.” Moses Maimonides, a Jewish rabbi and a medieval Jewish philosopher who has forever influenced the Jewish and non-Jewish world said:

” The resurrection of the dead is one of the cardinal principles established by Moses our teacher. A person who does not believe this principle has no real religion, certainly not Judaism. However, resurrection is for the righteous. This is the earning of the statement in Breshit Rabbah, which declares: “the creative power of rain is both for the righteous and the wicked, but the resurrection of the dead is only for the righteous.” Our sages taught the wicked are called dead even when they are still alive; the righteous are alive even when they are dead” (Bab. Talmud Brakhot 18 b).

3 points are made here: 1. Resurrection is a cardinal principle taught in the Torah which all Jews must believe 2. It is for the righteous alone 3. All men must die and their bodies decompose. (3)

It’s important to understand that the concept of resurrection had a meaning before Christianity ever started. And it’s interesting to ask why the early Christians applied the notion of resurrection to Jesus. What is the best explanation for their decision to do such a strange thing? Why not just give up on him and deny that he was the Messiah when he was killed by the Romans?