Allen West “There can be no more excuses, the American economy is deteriorating”

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by Allen West via Facebook

There can be no more excuses, the American economy is deteriorating, and has been over the last four years. Today’s first time weekly jobless claims number comes on the heels of the news of our economy contracting. I would hope we will now pay attention and stop falling for empty rhetoric and distractions.

And how ironic that today former Sen. Chuck Hagel is having his confirmation hearing after our ally Israel has received a new threat from Syria and Iran. Why? Because they stopped a shipment of arms headed to Hezbollah. Oh yeah, that is the same Hezbollah Hagel did not want to declare as a terrorist organization.

Allen West Discusses Economic Shrinkage with Greta – Jan 30, 2013

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As our economy takes an unexpected fourth quarter hit, Allen West goes “On the Record” with Greta to discuss our shrinking economy.

WATCH BY CLICKING HERE: Greta Fox News Insider Interview

Tonight Allen West goes “On the Record” with Greta To Discuss Our Anemic GDP

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via Allen West Facebook

“Do you think the President says to Michelle, “Honey, I shrunk the economy?” I’ll be going On the Record tonight with Greta van Susteren to talk about our anemic GDP.” 10PM ET 1/30/13

Join Greta for LIVE CHAT and what you think about the show by clicking here to go to her blog: GRETAWIRE

Allen West Joins PJ Media’s Next Generation TV as Director of Programming

Hello,

First, I want to thank you for your continuing support. I enjoyed my time serving as a member of the 112th Congress. However, those who think losing a congressional race defines me and ends my service to my country fail to realize what drives my patriotism and passion for America.

NGTV

I know many of you have been wondering what I would do next. Today, I’m excited to announce that I have joined PJ Media, LLC as their Director of Next Generation Programming. I will lead the effort to develop new programming that examines the issues of the day through the lens of the next generation, while at the same time encouraging all Americans to stand up for our nation’s collective future. As part of our new venture, I will write a free, weekly newsletter. You can check out the first edition of my newsletter below, and please sign up for it to stay informed on our work to preserve the American dream for future generations.

My parents kept the promise of America alive for me. Now it’s time for me to keep the promise of a better life alive for my children’s generation and their children’s generation. I hope you will join me in standing up for America’s future.

Visit www.NextGeneration.TV today to learn more, and be sure to sign up for my free, weekly newsletter.

Steadfast and Loyal,

Allen B. West

NGTV Weekly Update

AW NGTV

Standing Up For Our Future

Greetings to all Americans, and welcome to the Next Generation weekly update.

I am so thrilled that PJ Media offered me the opportunity to lead their new, mission-critical programming that zeros in on the future for America’s next generation. Using many forms of media such as Internet TV, social media, live events, outreach programs and newsletters like this one, we will examine the challenges facing our nation through the eyes of young Americans while encouraging all Americans to stand up for our nation’s future. All of the new programming we are developing will be rolling out in February and March on NextGeneration.TV. And I’ll keep you up to date on our work to preserve the American dream for future generations right here in this newsletter every week.

You may be wondering why am I taking on this mission.

Earlier this month, my family and I traveled to Phoenix, Ariz., to attend the 2013 BCS Fiesta Bowl. It was truly great to be in such a festive atmosphere, and even see some old friends.

However, as I watched the opening kickoff, I got that deep feeling in the pit of my stomach that it would be a long evening for the K-State Wildcat Nation. So my mind started to drift and analyze what was before me.

I looked over at my two daughters, dressed in K-State purple, and thought about my first college bowl game. I considered the cost today to attend a BCS bowl game, and thought about how the college-bowl experience will be something that will be harder for future generations to afford.

Is our dollar losing such value that ticket prices may become untenable for our next generation? I remember as a kid working hard doing errands and chores for neighbors, like washing cars and cutting grass, to earn the money to go see a game.

This is just one example of traditional American experiences we must stand up for in order to preserve the American dream for future generations.

We find ourselves dealing with incredibly pressing concerns about our fiscal security. We are on track for our fifth year of a deficit larger than $1 Trillion, and no one seems to want to tackle the issue of federal government spending, which is currently near 25 percent of our gross domestic product (GDP).

Instead, hardworking Americans, like those who want to take their kids to ball games, saw a two percent decrease in their take-home pay, and are faced with eight new taxes associated with the Affordable Care Act.

We are embroiled in a seminal decision about American individual liberty and freedom. I am making a stand because I want Americans to have greater opportunities, and that should be our promise to the Next Generation. Will you join me?

Steadfast and Loyal,

Allen B. West

Next Generation Today 
hosted by Allen West
Launches Monday, February, 4, 2013.
Check back often for special previews and discussions.

Rep. Allen West’s Weekly Wrap and Highlights of the Week

Dear Patriot-

Greetings to our Constituents, fellow Floridians, and all Americans. It is time for our weekly update.

My wife, Angela, and I bid farewell this week to two constituents who were very dear friends. One was a highly accomplished businessman and stalwart conservative, Larry Day. May God bless you Larry, and may God bless your wife Sharon. We will miss you.

Our other dearly departed friend was Mrs. Greta Sussman, an American patriot. Greta was so warm and kind to Angela and our daughters, especially when she invited our family to her home for Friday Shabbat dinner.  It was very special. To her husband and former Mayor of Hillsboro Beach, Chuck, I want to say that Angela and I will always be here for you and your lovely family.

Americans like Larry Day and Greta Sussman are why I serve this great nation. They are indicative of that unique American exceptionalism and indomitable spirit that never surrenders.  As we go forward as a nation, it is that indomitable spirit that will guide us back to the greatness that we know is achievable. An integral subset of that indomitable spirit is our American entrepreneurial drive, which has fueled our free market and enterprise system and given birth to unprecedented economic growth, innovation, ingenuity, and investment.

Still, today’s report of a 2.0 percent GDP growth for the third quarter, is not reflective of what rugged individual industrialists can achieve. Our previous second quarter GDP growth was initially reported as 1.8 percent only to be downgraded to 1.3 percent. My concern is that this number will receive the same revision in mid-November.

The almost $1 trillion stimulus promised a GDP projection of 4.5 percent right now, as well as unemployment of only 5.8 percent. One disturbing aspect of today’s report is that the key driver of private sector job creation, real nonresidential fixed investment, declined for the first time since the first quarter of 2011. Real nonresidential fixed investment remains 7.2 percent lower than it was when the recession began in the fourth quarter of 2007. Also, the tiny 0.72 percentage point of today’s reported 2.0 percent annualized growth rate was the result of higher Federal Government consumption and investment. We all know the Federal Government is currently spending about 25 percent of our GDP  with estimates from the Obama Administration’s Fiscal Year 2013 budget projecting it to grow to nearly 32 percent.

Today’s report cements America’s current recovery in last place among post-World War II recoveries lasting more than a year.  Since the recession ended in June 2009, real GDP has increased a total of 7.2 percent.  The average total increase in real GDP over the comparable 13 quarters in the other recoveries was 16.8 percent.  In the strong President Ronald Reagan recovery of the 1980’s, real GDP increased a total of 19.6 percent.   In comparison, President Reagan had the economy humming at 7.1 percent GDP growth at the same period of time in his presidential term.  If the economy had grown at the average pace of the other post-World War II recoveries, real GDP would be $1.2 trillion higher (based on 2005 dollars).  A Reagan-style recovery would have produced an economy with $1.6 trillion more than the current recovery (again, based on 2005 dollars).

A bigger economy would mean more job creation and higher federal revenues. If the economy had grown at the average pace of the other recoveries, and revenues had returned to a Fiscal Year 2007 level relative to GDP, the budget deficit would have been reduced by more than half. In other words, we would currently have a budget deficit of only $230 billion, rather than $1.1 trillion. Sadly enough, the debt is taking the opposite growth path, which is why we have an upside-down debt to GDP ratio.

Lastly, we continue to learn more about the incident in Benghazi, yet we hear no response or explanation from President Barack Obama. I remember the University of North Carolina basketball team, under Coach Dean Smith, used a tactic called, “four corners.” It was a stall tactic implemented, particularly in the second half, since there was no shot clock to run down the clock.

It is evident by his appearances on those really tough media outlets like Inside Edition, Daily Show, Late Night, Tonight Show, and MTV that President Obama, a basketball enthusiast, learned about using the four corners. But there’s one difference.  The President’s team has no lead on the scoreboard, and the American people have the ball. The only question is, will they slam dunk?

Steadfast and Loyal,

Highlights of the Week:

– Monday, 22 Oct; visited Thermal Concepts Company in Davie which develops high capacity commercial HVAC systems to discuss tax and regulatory policy effects on small business growth, hat tip to Larry Maurer; visited The Learning Experience, at their headquarters in Boca Raton, hat tip to Richard and Michael Weissman for hosting us to discuss their concerns with business growth and expansion.

– Tuesday, 23 Oct; visited Viesel Fuel in Stuart at the request of President/CEO Stu Lamb, an amazing company which takes used cooking and vegetable oils and converts into a diesel additive and ships out to refineries. Photoshere. Stu is a former US Air Force test pilot who saw a need because of high gas prices for his vehicle fleet and through ingenuity and innovation, built a new business; addressed the residents at the Miles Grant Golf community in Port Salerno at a luncheon focusing on the Greatest Senior generation and the legacy which we must pass on to the next generation. We discussed their concerns on tax, healthcare, and MEDICARE/Social Security; visited an inner city after-school program led by Travis Pitts of Pitts Enterprises Inc. in West Palm Beach. I spent about an hour with young kids discussing their hopes, dreams, and the importance of education and reading.

– Wednesday, 24 Oct; addressed the Florida Bankers Association at their quarterly luncheon at the Kravis Center in West Palm Beach. We focused on the looming fiscal cliff, monetary policy, and the unintended circumstances of the Dodd-Frank Financial Reform legislation on small community banks; toured the Workforce Solutions center in Port St. Lucie to understand how they are attacking the high unemployment situation in the Treasure Coast region, I focused on veterans services. I also visited the Army and Marine Corps recruiters who are located adjacent to the facility- photo here; visited the Aegis Communications call center located next to Workforce Solutions where they have just hired 300 local residents, hat tip to Paula in HR. Photos here.

– Saturday, 27 Oct; plans to visit the traveling Vietnam War Wall in Martin County, my older Brother fought in Vietnam with Charlie Co, 1/26th Marine Regiment; will attend the Ft Pierce Gun Show to meet fellow gun owners and American Patriots; and drop by the Port St Lucie Fall Fest as we prepare for Halloween; finally rounding off the day in boots and jeans for the Indiantown Rodeo.

– Sunday, 28 Oct; will run my first half-marathon of the season, Oceanside Physical Therapy Halloween Half-Marathon in Jensen Beach.  I am going to need physical therapy afterwards!  Will speak at Truth Church in Ft Pierce and pray to God to ease my pain after running 13.1 miles; will attend the 10th Anniversary celebration of the Port St. Lucie Shooting Center, come by and shoot some rounds with me!

Reading Recommendation by Congressman Allen West – The Truth Cannot be debated

George Santayana stated, “Those who fail to learn from history are doomed to repeat it”, this message is quite appropriate as we review our US economic history with recessions. The truth is plain and cannot be debated. It is just a question of Americans awaking from the kool-aid induced coma and accepting that which is obvious before we go into full economic decline. – Congressman Allen West  – Good Read/Wall Street Journal:

 “The ‘Financial Recession’ Excuse”

“Faced with the failed results of his own governing strategy of tax, spend and control, the president will have no choice but to follow an election strategy of blame, vilify and divide. But come Nov. 6, American voters need only ask themselves the question Reagan asked in 1980: ‘Are you better off than you were four years ago’”

By Phil Gramm and Mike Solon

 Commerce Department data released last Friday show that four years after the recession began, real gross domestic product per person is down $1,112 while 5.8 million fewer Americans are working than when the recession started.

Never before in postwar America have either real per capita GDP or employment still been lower four years after a recession began. If in this “recovery” our economy had grown and generated jobs at the average rate achieved following the 10 previous postwar recessions, GDP per person would be $4,528 higher and 13.7 million more Americans would be working today.

Behind the startling statistics of lost income and jobs are the real and painful stories of American families falling further behind: record high poverty levels, record low teenage employment, record high long-term unemployment, shrinking birthrates, exploding welfare benefits, and a crippled middle class.

As the recovery faltered, President Obama first claimed the weakness of the recovery was due to the depth of the recession, saying that it was “going to take a while for us to get out of this. I think even I did not realize the magnitude . . . of the recession until fairly far into it.”

But, in fact, the 1981-82 recession was deeper and unemployment was higher. Moreover, the 1982 recovery was constrained by a contractionary monetary policy that pushed interest rates above 21%, a tough but necessary step to break inflation. It was also a recovery that required a painful restructuring of American businesses to become more competitive in the increasingly globalized economy. By way of comparison, our current recovery has benefited from the most expansionary monetary policy in U.S. history and a rapid return to profitability by corporate America.

Despite the significant disadvantages the economy faced in 1982, President Ronald Reagan’s policies ignited a recovery so powerful that if it were being repeated today, real per capita GDP would be $5,694 higher than it is now—an extra $22,776 for a family of four. Some 16.9 million more Americans would have jobs.

The most recent excuse for the failed recovery is that financial crises, by their very nature, result in slower, more difficult recoveries. Yet the 1981-82 recession was at least in part financially induced by inflation, record interest rates and the dislocations they generated. The high interest rates wreaked havoc on long-term lenders like S&Ls, whose net worth turned negative in mid-1982. But even if we ignore the financial roots of the 1981-82 recession, the financial crisis rationalization of the current, weak recovery does not stand up to scrutiny.

The largest economic crisis of the 20th century was the Great Depression, but the second most significant economic upheaval was the panic of 1907. It was from beginning to end a banking and financial crisis. With the failure of the Knickerbocker Trust Company, the stock market collapsed, loan supply vanished and a scramble for liquidity ensued. Banks defaulted on their obligations to redeem deposits in currency or gold.

Milton Friedman and Anna Schwartz, in their classic “A Monetary History of the United States,” found “much similarity in its early phases” between the Panic of 1907 and the Great Depression. So traumatic was the crisis that it gave rise to the National Monetary Commission and the recommendations that led to the creation of the Federal Reserve. The May panic triggered a massive recession that saw real gross national product shrink in the second half of 1907 and plummet by an extraordinary 8.2% in 1908. Yet the economy came roaring back and, in two short years, was 7% bigger than when the panic started.

It is certainly true that the economy languished in the Great Depression as it has over the past four years. But today’s malaise is similar to that of the Depression not because of the financial events that triggered the disease but because of the virtually identical and equally absurd policy prescriptions of the doctors.

Under President Franklin Roosevelt, federal spending jumped by 3.6% of GDP from 1932 to 1936, an unprecedented spending spree, as the New Deal was implemented. Under President Obama, spending exploded by 4.6% of GDP from 2008 to 2011. The federal debt by the end of 1938 was almost 150% above the 1929 level. Publicly held debt is projected to be double the 2008 level by the end of 2012. The regulatory burden mushroomed under Roosevelt, as it has under Mr. Obama.

Tax policy then and now was equally destructive. The top individual income tax rate rose from 24% to 63% to 79% during the Herbert Hoover and Roosevelt administrations. Corporate rates were increased by 36%. Under Mr. Obama, capital gains taxes are set to rise by one third, the top effective tax rate on dividends will more than triple, and the highest marginal tax rate will effectively rise by 21.4%.

Moreover, the Obama administration’s populist tirades against private business are hauntingly similar to the Roosevelt administration’s tirades. FDR’s demagoguery against “the privileged few” and “economic royalists” has evolved into Mr. Obama’s “the richest 1%” and America’s “millionaires and billionaires.”

Yet, in his signature style, Mr. Obama now claims our weak recovery is not because a Democratic Congress said yes to his policy prescriptions in 2009-10 but because a Republican House said no in 2011. The sad truth is this president sowed his policies and America is reaping the results.

Faced with the failed results of his own governing strategy of tax, spend and control, the president will have no choice but to follow an election strategy of blame, vilify and divide. But come Nov. 6, American voters need only ask themselves the question Reagan asked in 1980: “Are you better off than you were four years ago?”

Sadly, with their income reduced by thousands, the number of U.S. jobs down by millions, and the nation trillions deeper in debt, the answer will be a resounding “No.”

Mr. Gramm, a former U.S. senator from Texas, is the senior partner at U.S. Policy Metrics, where Mr. Solon, a former senior budget staffer in both houses of Congress, is also a partner.