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How Can One Possibly Support Obama's Economic Policies? - Page 17

post #641 of 753
Quote:
Originally Posted by jazzguru View Post

Hey, I'm not the one who brought Christ into the discussion.

I was referring to your Matthew quote. It is very close to standard airline safety instructions. Jesus was stewardess. Puts him in a whole new light.
15/7 is my fave.
yes I want oil genocide.
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yes I want oil genocide.
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post #642 of 753

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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post #643 of 753
Quote:
Originally Posted by jazzguru View Post


Capitalism Saved the Miners

Quote:
The president of the U.S. is campaigning across the country making this statement at nearly every stop: "The basic idea is that if we put our blind faith in the market and we let corporations do whatever they want and we leave everybody else to fend for themselves, then America somehow automatically is going to grow and prosper."

Uh, yeah. That's a caricature of the basic idea, but basically that's right. Ask the miners.

The Center Rock drill, heretofore not featured on websites like Engadget or Gizmodo, is in fact a piece of tough technology developed by a small company in it for the money, for profit. That's why they innovated down-the-hole hammer drilling. If they make money, they can do more innovation.

The high-strength cable winding around the big wheel atop that simple rig is from Germany. Japan supplied the super-flexible, fiber-optic communications cable that linked the miners to the world above.

In an open economy, you will never know what is out there on the leading developmental edge of this or that industry. But the reality behind the miracles is the same: Someone innovates something useful, makes money from it, and re-innovates, or someone else trumps their innovation. Most of the time, no one notices. All it does is create jobs, wealth and well-being. But without this system running in the background, without the year-over-year progress embedded in these capitalist innovations, those trapped miners would be dead.

Chile's health minister, Jaime Manalich, said, "I never realized that kind of thing actually existed."

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post #644 of 753
From one of America's success stories:

Stop Bashing Business, Mr. President

Quote:
If we tried to start Home Despot today, under the kind of onerous regulatory controls that you have advocated, it's a stone cold certainty that our business would never get off the ground, much less thrive. Rules against providing stock options would have prevented us from incentivizing worthy employees in the start-up phasenever mind the incredibly high cost of regulatory compliance overall and mandatory health insurance. Still worse are the ever-rapacious trial lawyers.

Meantime, you seem obsessed with repealing tax cuts for "millionaires and billionaires." Contrary to what you might assume, I didn't start with any advantages and neither did most of the successful people I know. I am the grandson of immigrants who came to this country seeking basic economic and personal liberty. My parents worked tirelessly to build on that opportunity. My first job was as a day laborer on the construction of the Long Island Expressway more than 50 years ago. The wealth that was created by my investments wasn't put into a giant swimming pool as so many elected demagogues seem to imagine. Instead it benefitted our employees, their families and our community at large.
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post #645 of 753


POINT

Why Another Stimulus Might Not Help Us Rebuild
by NPR STAFF
October 17, 2010

Quote:
"Stimulus" may be a dirty word in Washington these days, but don't we need another boost to kick-start the economy?

Many economists say yes even if it may not be politically feasible after the election. Economic historian Niall Ferguson, however, says a second round isn't a good idea at all.

The Harvard historian tells NPR's Guy Raz that while it might have some impact on unemployment figures, another stimulus also carries with it a tremendous risk.

"The risk is that you finally stretch the credulity of financial markets to the breaking point, and investors not only in the U.S., but abroad say, 'You know what? U.S. fiscal policy really is out of control,' " Ferguson says.

This Isn't The 1930s

Economists who support another stimulus, many of them "Keynesian" economists, point to Franklin Roosevelt and the results of similar initiatives in the 1930s. During those years, they say, FDR's New Deal helped pull the U.S. out of the Great Depression and kept the nation from crashing on the eve of World War II.

Ferguson says you simply cannot use that era as a blueprint for today.

"The comparison just suggests a complete historical ignorance on their part," he says. "In the Depression ... the stock market fell 85 percent; the unemployment rate was 25 percent. Right now, the U.S. economy, its gross domestic product is about 2 percent below its pre-crisis peak. The unemployment rate is below 10 percent the economy is growing."

Even more importantly, Ferguson points to a fundamental difference between the way the economy functions today and how it did 80 years ago. The market circulated on much more of a closed circuit, within the country's borders.

"Globalization had collapsed by 1932 before Roosevelt even came into office so it was relatively easy to engage in fiscal or monetary stimulus, because there was virtually no trade, and there was virtually no capital movement across borders," he says.

In today's crisis, Ferguson says, globalization is still operational, and fiscal action in the U.S. has tremendous ripple effects abroad.

"It is no coincidence that the United States has been engaging in massive deficit finance and massive quantitative easing to use the technical term for printing money and that simultaneously, there have been surges in commodity prices and in emerging markets," he says.

"If the Fed is making dollars available virtually for free to the financial system," Ferguson says, "don't be surprised if people take that money and instead of investing in, I don't know, a new car factory in Michigan, they go and try and invest it in a more profitable way." Like in Asia, Latin America or commodity markets like gold.

Economics For The 'Real World'

So if a second stimulus isn't the best idea, what is?

Ferguson says instead of such short-term fixes, he'd like to see plans for "medium-term fiscal stability."

The first step, he says, is to create a solid plan to balance the budget over a five- to 10-year time frame, which would signal to businesses and investors that it's safe to hire and expand.

"Nobody really wants to invest in any significant way in new plans under conditions of uncertainty, and there's huge policy uncertainty," he says.

Stabilizing the U.S. fiscal position might mean significant spending cuts or significant tax hikes, Ferguson warns. "They're also going to have to stabilize the monetary position, which means probably higher interest rates," he says. "Because of that uncertainty, a lot of businesses are just sitting on their hands."

Additionally, the Obama administration also needs to change its tone, which Ferguson says is currently too anti-business.

"Confidence is a huge part of what makes an economy grow."

As for those economists who disagree with him most notably Paul Krugman, with whom he has had public feuds Ferguson says they don't really understand the economy.

"I have news for you most of the academic economists know fantastically little about the way that the real world works, because they spend a lot of their time doing applied mathematics and devising fancy models that effectively simplify the way the world works, because that sounds really clever," he says.

"What this crisis has revealed is that that cleverness is of very little value in the real world."

http://www.npr.org/templates/story/s...ryId=130628200

COUNTER POINT


How To Rev Up An Economy Stuck At 'Stall Speed'
by NPR STAFF
October 17, 2010

Quote:
The American economy is aloft, says economist Nouriel Roubini. But barely.

"The economy is growing so slowly that like a plane that is slowing down very fast, it might reach a point of falling off the cliff," he tells NPR's Guy Raz.

The New York University economist has a prescription for Washington: Cut payroll taxes for two years, extend the Bush tax cuts for everyone but the rich, and pass another stimulus bill.

"In my view, if we could do another stimulus with a commitment to obtain fiscal discipline over the long term, then we can square the circle between the need for a stimulus in the short run," he says. "Over the course of the medium term, we have to deal with these budget deficits."

But he acknowledges that's not likely in the current political climate. He says a more feasible alternative one Congress might be able to pass even if the GOP takes control in November would be a reduction in the payroll tax for a few years. If companies lost less to taxes, Roubini says they would hire more workers.

"Over two years I would say we could certainly afford a $200 billion cut" to payroll taxes, he says.

Roubini says his proposal could also be made budget-neutral by allowing the Bush-era tax cuts for the wealthiest Americans to expire at the end of this year.

But the most effective solution for an economic stall is also likely to be the most unpopular. Roubini says it's modeled on a policy employed during the Great Depression.

"We essentially reduced the principal value of consumer debt for those households that are essentially insolvent," he says. "It will be the only way to restore economic growth on a faster basis."

http://www.npr.org/templates/story/s...30630247&ps=rs
無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #646 of 753

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

Reply

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

Reply
post #647 of 753


無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #648 of 753
It’s Official: Obama Has Now Borrowed $3 Trillion

Quote:
(CNSNews.com) - It's official: The Obama administration has now borrowed $3 trillion, according to the U.S. Treasury Department.

It took from 1776, when the United States became an independent country, until 1990, the year after the Berlin Wall fell signaling victory in the Cold War, for the federal government to accumulate a total of $3 trillion in debt, according to the Treasury Department. It only took from Jan. 20, 2009, the day President Barack Obama was inaugurated, until Oct. 15, 2010, for the Obama administration to add $3 trillion to the federal debt.

The overall debt of the federal government, according to the Treasury Department, is now $13.666 trillion.

Each business day, in the afternoon, the Treasury Department’s Bureau of the Public Debt publishes the exact amount—to the penny--of total federal debt as of the close of the previous business day.

At the close of business on Jan. 20, 2009, according to the bureau, the total debt of the federal government was $10,626,877,048,913.08. On Oct. 15, 2010, the federal government borrowed an additional $58,979,549,154.06, bringing the total federal debt at the close of Friday’s business day to $13,665,926,643,255.96—an increase of $3,039,049,594,342.88 since President Obama’s inauguration.

As calculated by the Bureau of the Public Debt, the total federal debt includes two major components: debt held by the public, which includes publicly traded securities such as Treasury bonds, and intragovernmental debt, which is money the government borrows from theoretically dedicated funds within the government itself, such as the Social Security trust fund.

The overwhelming majority of the $3.039 trillion increase in the debt under President Obama has come in the form of debt held by the public as opposed to intragovernmental debt. Debt held by the public has increased $2.75196 trillion since Obama was inaugurated, according to the Bureau of Public Debt, while intragovernmnetal debt has increased 287.0889 billion.

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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post #649 of 753

Campaign signs at the Pig Pickin and Politickin rally last week at the Northstone Country Club in Huntersville, N.C.

By MICHAEL COOPER
Published: October 18, 2010

HUNTERSVILLE, N.C. What if a president cut Americans income taxes by $116 billion and nobody noticed?

Quote:
It is not a rhetorical question. At Pig Pickin and Politickin, a barbecue-fed rally organized here last week by a Republican womens club, a half-dozen guests were asked by a reporter what had happened to their taxes since President Obama took office.

Federal and state have both gone up, said Bob Paratore, 59, from nearby Charlotte, echoing the comments of others.

After further prodding including a reminder that a provision of the stimulus bill had cut taxes for 95 percent of working families by changing withholding rates Mr. Paratores memory was jogged.

Quote:
Youre right, youre right, he said. Ill be honest with you: it was so subtle that personally, I didnt notice it.

Few people apparently did.

In a troubling sign for Democrats as they head into the midterm elections, their signature tax cut of the past two years, which decreased income taxes by up to $400 a year for individuals and $800 for married couples, has gone largely unnoticed.
無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #650 of 753
We don't have a foreclosure thread, so I'm linking to this here. It is happening under Obama's watch.

The foreclosure epidemic seems to be largely driven by fraud.
Why is the government allowing this nonsense to continue, when it is the epicenter of the current recession?
The evil that we fight is but the shadow of the evil that we do.
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The evil that we fight is but the shadow of the evil that we do.
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post #651 of 753
Quote:
Originally Posted by FineTunes View Post

HUNTERSVILLE, N.C. What if a president cut Americans income taxes by $116 billion and nobody noticed?

Nobody noticed the Making Work Pay Credit because it was not a tax cut.

At $152 billion, Bush's Economic Stimulus Act of 2008 was bigger, but no one ever called it a tax cut. It was merely "helicopter money" intended to motivate people to get out of their economic funk and go to the mall. As was expected (by most sentient beings) but surprising (to most "economists"), it was used instead to buy a few tanks of gas or pay off some credit card interest. Its effect on the economy was miniscule if anything, and may have lasted a month or two. Like nearly all government spending these days, the money didn't exist - it was created ex nihilo, borrowed against our progeny's future, including their future recessions. In my opinion, it was shameless election year pandering... and failed to meet that goal as well.

Obama's MWPC didn't have even that anemic effect, since a few dollars not withheld from one week to the next isn't likely to get as much notice as a fat check in the mail. Unlike the Bush "stimulus", it was also gradually phased out for individuals making over $75000, couples over $150000, and completely eliminated at incomes over $95000/$190000. It also required completing yet another IRS form (Schedule M). It's also temporary, for last year and this. Is it any wonder it went unnoticed? Why are these people constantly "surprised" at the result of their idiocy?

Transient policies have transient effects. I'll gladly pay less taxes any way I can, but to me, a tax cut means a permanent reduction in marginal tax RATES. Anyone contemplating expanding a business or investing one's personal income in something needs a plan for the future. Absent a reasonably certain economic plan to work with, a one-time sprinkle of money doesn't inspire one whit of confidence to make those kinds of decisions. Absent such a plan, we will experience economic stagnation at best - companies and individuals have been hiding in their bunkers since expiration of the Bush tax cuts began to loom on the horizon. For some reason, this fact continues to flummox "economists" as well.

Changing the tax code allows companies to plan for the future. None of these programs changed the tax code a bit. Letting people and businesses save and invest their own money is the only proven way to truly restore economic growth, and economic growth is the only proven way to increase Treasury revenue.

When will these idiots come to this realization...? Not soon enough to undo the damage they've already inflicted upon us.
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post #652 of 753
Quote:
Originally Posted by Frank777 View Post

We don't have a foreclosure thread, so I'm linking to this here. It is happening under Obama's watch.

Try this one: What is ForeclosureGate and Robosigning?

It will be entertaining to see this all play out, sort of watching a slow-motion car wreck...
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post #653 of 753
The $400 was forgotten, so what about $250?

Too Little Too Late: Obama's Proposed $250 Rebate to Seniors Unlikely to Sway Election, Analysts Say

Quote:
"I think the Democratic Party's standing between now and November is past the point of rescue with seniors," Glen Bolger, a GOP pollster, told FoxNews.com.

Yet another penetrating glimpse into the obvious.
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post #654 of 753
無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #655 of 753
Hot air? White House takes credit for Bush-era wind farm jobs:

Quote:
Administration claims 50,000 jobs created, but many projects were completed before funds were handed out

The Obama administration is crediting its anti-recession stimulus plan with creating up to 50,000 jobs on dozens of wind farms, even though many of those wind farms were built before the stimulus money began to flow or even before President Barack Obama was inaugurated.

Out of 70 major wind farms that received the $4.4 billion in federal energy grants through the stimulus program, public records show that 11, which received a total of $600 million, erected their wind towers during the Bush administration. And a total of 19 wind farms, which received $1.3 billion, were built before any of the stimulus money was distributed.

Yet all the jobs at these wind farms are counted in the administration's figures for jobs created by the stimulus.

Quote:
The association, in turn, cites a study by the Energy Department's Lawrence Berkeley National Laboratory, which estimated that the grant program supported more than 51,600 short-term jobs during the construction phase, the equivalent of that many people working full time for one year, and an additional 3,860 long-term full-time jobs. The study assumed that all the projects finished in the first half of 2009 were not caused by the stimulus.

When the wind association and the Obama administration cite such figures as 50,000 jobs, however, they don't mention that the study found that most were short-term jobs.

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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post #656 of 753
Quote:
Originally Posted by Wormhole View Post

I was referring to your Matthew quote. It is very close to standard airline safety instructions. Jesus was stewardess. Puts him in a whole new light.
15/7 is my fave.

If there was a Jesus?
post #657 of 753

I am sick and tired of all you people bitching about Obama. Why don't you run for president and see what you can do to make this country more financially sound? Or go to England and live with all the cuts they are having now.
post #658 of 753
Quote:
Originally Posted by gerald apple View Post

I am sick and tired of all you people bitching about Obama. Why don't you run for president and see what you can do to make this country more financially sound? Or go to England and live with all the cuts they are having now.

Boo hoo. Then leave. No one's forcing you to come here let alone read any of the posts.

P.S. I didn't happen to be "bitching about Obama" in that post...merely pointing out one of the deceptions emanating from his administration.

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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post #659 of 753

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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post #660 of 753
Stimulus Failure: 48 Out of 50 States Lost Jobs Since Democrats Trillion Dollar Stimulus Plan

Quote:
In total, over 2 million jobs have been eliminated, in contrast to the over 3 million more jobs Americans were promised if Democrats’ 2009 stimulus plan passed. The only place in America that has exceeded its projected job growth following Democrats’ stimulus is Washington, D.C.

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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post #661 of 753
Another Tea Party member speaks out:

Quote:
Q: What are your feelings about the online reactions? Many people seem upset or outraged.
A: I'm stunned that so many people who call themselves liberal yet are completely intolerant. I thought liberals loved everyone: the poor, the immigrant, the gays, the handicapped, the minorities, dogs, cats, all eye colors, all hair colors! Peace, love, bull! Curious they have no tolerance whatsoever for anyone who doesn't think exactly as they do. You disagree and you're immediately called a fool, a Nazi, a racist. That's pretty f'd up!! I would never judge someone based on their political views. Their honesty, integrity, kindness to others, generosity? Yes. Politics? No!

Recognize anyone ?

Quote:
Q: What are some misconceptions that people have about Tea Parties (and their attendants) in general?
A: That they're all racists, they're all religious nuts, they're all uninformed, they're all stupid, they want no taxes at all and no regulations whatsoever. Those "arguments" are presented by the Dems in order to keep their base of uninformed voters on their side. In my opinion, as soon as you start name-calling, your opinion is immediately deemed invalid!

Recognize anyone yet?

Quote:
Q: What would you like to see change?
A: The current administration!

Quote:
Q: What specifically about the current administration do you disagree with?
A: I disagree with spending / borrowing / printing -- damn the torpedoes, full speed ahead! I disagree with the "we won" attitude, which is the cowardly way of saying fuck you! I disagree with an administration that for twenty months blames Bush.

How about now?

Quote:
I am also against the government taking over the student loan program, car companies, bailouts and the White House taking control of the census (what the hell is that all about?); [about] any First Lady telling (I know, I know, "suggesting to") us what to eat, the mayor of New York City declaring "no salt" (screw you, pal!), the mayor/city commissioners of Anytown, U.S.A. declaring you can't fly a flag, can't say the Pledge of Allegiance and can't sing the National Anthem. I'm against a President dismissing any and all who dare to disagree; the water being turned off in (central) California, at [an] area where they've turned off the water because they want to save a one-inch fish -- turning that huge area of farming land into another dustbowl -- the insipid start of food supply control methinks! The government deciding what kind of lightbulbs we can use (all you "think green" people, three objections to this b.s.: 1) Those bulbs give off the light of a candle; 2) They're very expensive; 3) They have mercury in them - how the hell are we supposed to dispose of them?).

I am against the government now thinking about bailing out unions. The unions made the contracts which include insane pensions; the U.S. government didn't. I'm against the government closing down offshore drilling in the Gulf with one hand and with the other giving (lending?) Brazil money to help them do way deeper offshore drilling -- rather curious. I'm against a government that will not defend our borders; and on and on and on.

Just another ignoramus racist Obama-hating teabagger, I suppose.

Read more:
http://blogs.riverfronttimes.com/ato...ound_video.php

Quote:
Q: And yet there is also a minority that agrees with you.
A: There are a lot more than you think who agree with me.

You got that right.
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post #662 of 753
Barney Frank rakes in $40G from bailed out banks

Quote:
U.S. Rep. Barney Frank, in an intensifying clash with GOP upstart Sean Bielat, has pledged not to take campaign cash from lenders that got federal bailouts — yet has raked in more than $40,000 from bank execs and special interests connected to the staggering government loans, a Herald review found.

Frank vowed in February 2009 that he wouldn’t accept campaign donations from banks that received money under the $700 billion Troubled Asset Relief Program (TARP) or political action committees tied to such institutions.

But Frank has hauled in thousands from top execs at Bank of America, Citizens Bank, Wainwright Bank, JP Morgan Chase and other institutions that received billions in TARP money.

Just yesterday, Frank made new campaign finance disclosures showing he received $17,000 from top executives of Bank of America — including $2,000 from CEO Brian Moynihan. B of A received $45 billion in bailout money. In all, Frank has hauled in at least $27,000 since 2009 from bank execs — and $13,000 from PACs — connected to banks that received TARP funding, including:

• $5,000 earlier this month from the Bank of America Corp. Federal PAC;

• $10,000 in August and September from the Bipartisan PAC/Bank of New York Mellon Corp.; Mellon received $3 billion from TARP;

• $2,000 in June 2009 from the Financial Services Roundtable PAC, which counts TARP recipients B of A, JP Morgan Chase and Wells Fargo among its members; and

• $1,000 in March from U.S. Bancorp PAC; the Minnesota-based bank received more than $6 billion in TARP funds.

“Now that he’s in the political fight of his life, Barney Frank tossed aside his phony pledge and lined his pockets with cash from his closest allies — Wall Street executives,” said National Republican Congressional Committee spokesman Tory Mazzola. “He made a promise to voters, but obviously he cares more about saving his career as a politician than with keeping his word.”

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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post #663 of 753
NEWS IN BRIEF
OCTOBER 22, 2010 | ISSUE 4642

Quote:
HARTFORD, CTFollowing a speech tomorrow afternoon in support of Senate hopeful Richard Blumenthal, top Democratic Party member Barack Obama is expected to take advantage of a brief lull in his hectic schedule to govern the United States of America, sources reported Thursday.
Quote:
"Barack should have a little bit of free time in the car when we travel between the get-out-the-vote rally in East Hartford and the fundraising dinner for [Connecticut gubernatorial candidate] Dan Malloy,"

said Obama aide Lisa McMaster, admitting that most of the business of being leader of the free world would have to wait for the few days between the end of the midterm election cycle and the start of the 2010 presidential campaign.
Quote:
"Those 15 or so minutes should allow him to skim the past weeks national security briefings, sign a few pieces of legislation, and shoot a 45-second call to South Korean prime minister Kim Hwang-sik to hammer out a free-trade pact."

McMaster added that if everything goes perfectly, Obama might have a moment between the dinner's salad and entrée courses to authorize a missile strike on suspected al-Qaeda sites in Yemen.

http://www.theonion.com/articles/oba...de-over,18306/



無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #664 of 753
By BEN FELLER, AP White House Correspondent 1 hr 27 mins ago
Quote:
WASHINGTON Preparing for political life after a bruising election, President Barack Obama will put greater emphasis on fiscal discipline, a nod to a nation sick of spending and to a Congress poised to become more Republican, conservative and determined to stop him.

He is already giving clues about how he will govern in the last two years of his term.

Obama will try to make gains on deficit reduction, education and energy. He will enforce his health care and financial overhauls and try to protect them from repeal should Republicans win control of Capitol Hill. He will use executive authority when blocked by Congress, and steel for scrutiny and investigations if the GOP is in charge.

While trying to save money, Obama will have to decide whether to bend to Republican and growing Democratic pressure to extend Bush-era tax cuts, even for the wealthy, that expire at year's end. Obama wants to extend them for people making less than $200,000 and married couples making less than $250,000, but a broader extension is gaining favor with an increasing number of Democrats.

Moving to the fore will be a more serious focus on how to balance the federal budget and pay for the programs that keep sinking the country into debt.

http://news.yahoo.com/s/ap/20101024/...will_he_govern



無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #665 of 753







無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
Reply
無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #666 of 753

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

Reply

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

Reply
post #667 of 753

Quote:
According to the report, 1/3 of the unemployed have been out of work for over a year. This hasnt happened since the Great Depression.



Millions of Americans must eventually come to the realization they'll never work again.

As one commenter wrote, "elections have consequences." Those consequences are now becoming painfully evident. The unemployed have the whole day off next Tuesday.
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post #668 of 753
From those commie liberal socialists at The Washington Times:

Quote:
Obama wins more spending cuts than Bush

President Obama notched substantial successes in spending cuts last year, winning 60 percent of his proposed cuts and managing to get Congress to ax several programs that had bedeviled President George W. Bush for years.

The administration says Congress accepted at least $6.9 billion of the $11.3 billion in discretionary spending cuts Mr. Obama proposed for the current fiscal year. An analysis by The Washington Times found that Mr. Obama was victorious in getting Congress to slash 24 programs and achieved some level of success in reducing nine other programs.

Among the president's victories are canceling the multibillion-dollar F-22 Raptor program, ending the LORAN-C radio-based ship navigation system and culling a series of low-dollar education grants. In each of those cases, Mr. Obama succeeded in eliminating programs that Mr. Bush repeatedly failed to end.

"This is a very strong beginning for the president's efforts to shape a budget that invests in programs that work and that ends programs that don't," said Tom Gavin, a spokesman for the White House budget office. "The Congress has approved more than 60 percent of the president's proposals, and that's a high mark, that's a strong beginning."

By comparison, the Committee for a Responsible Federal Budget says Mr. Bush won 40 percent of his spending cuts in fiscal 2006 and won less than 15 percent of his proposed cuts for 2007 and 2008.
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post #669 of 753
Quote:
Originally Posted by FormerLurker View Post

From those commie liberal socialists at The Washington Times:

Wow! $6.9B?! Remarkable. How did he do it?! How did he manage to cut 2/10ths of 1% from the budget? Hell, that's not even 1% of the deficit! This is truly the sign of a tidal wave of fiscal conservatism! Never mind the $787B he demanded and spent (114X the size of these spending "cuts"). No, we'll focus on the cut of $6.9B from a $3.5T budget.

<golf clap everyone>

Let's look at some specifics:

Quote:
By comparison, the Committee for a Responsible Federal Budget says Mr. Bush won 40 percent of his spending cuts in fiscal 2006 and won less than 15 percent of his proposed cuts for 2007 and 2008.

Gee, what happened in 2007 and 2008? Anyone want to guess?


Quote:
"The president wisely proposed most of his cuts in defense, knowing that the Democratic Congress is going to give much more scrutiny to defense than nondefense programs, so it's not surprising he had some success there. He was sailing with the wind," Mr. Riedl said.


Quote:
Mr. Obama's victories were offset by some defeats, including several programs to which Congress added money.


Quote:
Congress also added $2.5 billion to buy more C-17 cargo planes, which the Pentagon says are not needed.

<sigh>


P.S. Lest anyone think I'm opposed to the $6.9B in spending cuts, let me be perfectly clear: I'm NOT opposed to them! I'm merely pointing out the utter ridiculousness of even touting this in the face of everything else that's been done.

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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post #670 of 753
So between the spending cuts and the tax cuts for the middle and lower classes, why do the Republicans hate Obama so much again?

Oh wait, he's on TEAM BLUE! FUCK TEAM BLUE!

 

“The nitrogen in our DNA, the calcium in our teeth, the iron in our blood, the carbon in our apple pies were made in the interiors of collapsing stars. We are made of starstuff.” 
-Sagan
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“The nitrogen in our DNA, the calcium in our teeth, the iron in our blood, the carbon in our apple pies were made in the interiors of collapsing stars. We are made of starstuff.” 
-Sagan
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post #671 of 753
Quote:
Originally Posted by BR View Post

So between the spending cuts and the tax cuts for the middle and lower classes, why do the Republicans hate Obama so much again?

Well, since he didn't really do either. Maybe that's it. Ya think?

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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post #672 of 753
Quote:
Originally Posted by john galt View Post



Millions of Americans must eventually come to the realization they'll never work again.

OTOH, there will be plenty of meat ready for the live gladiatorial games that will eventually come.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #673 of 753
Quote:
Originally Posted by BR View Post

So between the spending cuts and the tax cuts for the middle and lower classes, why do the Republicans hate Obama so much again?

I only hate him because you love him.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #674 of 753
Thread Starter 
Quote:
Originally Posted by BR View Post

So between the spending cuts and the tax cuts for the middle and lower classes, why do the Republicans hate Obama so much again?

Oh wait, he's on TEAM BLUE! FUCK TEAM BLUE!

Spending cuts????? Are you seriously still hanging you hat on that claim?

By the way, has anyone noticed that those who disagree with Obama always are portrayed as having another motivation for doing so? It could never be that they disagree with Obama on policy, not even if they list the policies they disagree with.....no, no! They are either racists, or classists, morons, etc....or in this case, they are just blindly partisan. That must be it.
I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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post #675 of 753
Lester Thurow:

Quote:
While corporations are legal entities that write checks to government, they do not pay taxes. They simply collect money from someone--their shareholders, their customers, or their employees--and transfer it to government. There is no such thing as taxing corporations as opposed to individuals. This immediately raises the issue of who ultimately pays the corporate income tax. The incidence of the corporate income tax is an area of economics with a large literature and little or no agreement. Depending upon the exact assumptions used, the definition of incidence, and the time periods under consideration, it could be a tax on shareholders, a sales tax on consumers, or a tax on employees. (Personally, I believe that it is a tax on shareholders in the short run and a sales tax in the long run, but my advocacy of its elimination does not hang on that belief.) While there may be a certain perverse political virtue in collecting a tax where no one is sure whether he pays it , simple economic efficiency and equity would seem to call for the elimination of taxes where incidence is uncertain. Only if we do so can we establish a tax system that is fair and has the economic consequences we intend.

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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post #676 of 753
Soon to be House Speaker John Boehner proposes his agenda:

What the Next Speaker Must Do

These are almost exactly the same issues that won Obama the Presidency.

End earmarks: Obama promises "no earmarks"
Let Americans read bills before they are brought to a vote: Public Will Have 5 Days To Look At Every Bill That Lands On My Desk
No more bills written behind closed doors in the speaker's office, "Complete transparency"

Of course, Obama's promises on tax increases were obliterated long ago:
No Higher Taxes With Health Reform, Obama tax pledge up in smoke, WH Won't Rule Out Tax Increase On Middle-Class, etc, etc.
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post #677 of 753

Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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Malo periculosam, libertatem quam quietam servitutem.

(I prefer the tumult of liberty to the quiet of servitude.)

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post #678 of 753
Quote:

Yes but the positive spin on it is that she is no longer exhausted and is now enjoying an extended staycation.

"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell

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"During times of universal deceit, telling the truth becomes a revolutionary act." -George Orwell

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post #679 of 753
Quote:
Originally Posted by BR View Post

So between the spending cuts and the tax cuts for the middle and lower classes, why do the Republicans hate Obama so much again?

http://www.nytimes.com/2010/11/24/bu...er=rss&emc=rss

Must be because of record breaking corporate profits.

No... it's the GM bailout leading to record breaking IPO $ raised....
yes I want oil genocide.
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yes I want oil genocide.
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post #680 of 753
Quote:
Originally Posted by Wormhole View Post

http://www.nytimes.com/2010/11/24/bu...er=rss&emc=rss

Must be because of record breaking corporate profits.

No... it's the GM bailout leading to record breaking IPO $ raised....

Misleading headlines and statements are fun aren't they:

Quote:
Corporate Profits Were the Highest on Record Last Quarter

The nations workers may be struggling, but American companies just had their best quarter ever.

American businesses earned profits at an annual rate of $1.66 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or non-inflation-adjusted terms.

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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