Obama said Monday that everything is just fine, he’s fixed all that’s wrong. Things will only get better if those evil, naysaying, dastardly Republicans will just roll over and play dead.
“So if you add it all up, over the last three and a half years, our businesses have added 7.5 million new jobs,” he said. “The unemployment rate has come down. Our housing market is healing. Our financial system is safer.”
The only reason unemployment is down is because more people have given up looking for work and dropped out of the labor force.
According to an article in Fortune, the nation still needs 8.3 million jobs to fully recover from the recession.
The poverty rate has climbed to 15 percent under Obama.
But Obama, who has been president for nearly five years and had Democrat majorities in both houses of Congress for the first two years, laments:
“We need to grow faster. We need more good-paying jobs. We need more broad-based prosperity. We need more ladders of opportunity for people who are currently poor but want to get into the middle class. Because even though our businesses are creating new jobs and have broken record profits, the top 1 percent of Americans took home 20 percent of the nation’s income last year, while the average worker isn’t seeing a raise at all. In fact, that understates the problem. Most of the gains have gone to the top one-tenth of 1 percent.”
And whose fault is this?
He got his financial bailouts, auto bailouts, stimulus, quantitative easing, longer jobless benefits, more taxes on the wealthy and ObamaCare.
When does he get a piece of the blame?
“Our deficits are going down faster than any time since before I was born,” he said. “By the end of this year, we will have cut our deficits by more than half since I took office.”
After doubling it. The total debt is approaching $17 trillion.
The next day the CBO announced that by 2038, the total debt will equal 100 percent of GDP. In 10 years, annual deficit would grow to almost 3½ percent of GDP under current law, while federal debt would equal 71 percent of GDP.
In one sentence Obama accused the Republican Party of creating “economic chaos if it can’t get 100 percent of what it wants.”
A few sentences later, he said, “The only way to make further long-term progress on deficit reduction that doesn’t slow growth is with a balanced plan that includes closing tax loopholes that benefit corporations and the wealthiest Americans at the expense of the middle class. That’s the only way to do it.”
Isn’t he demanding 100 percent of what he wants? Kennedy and Reagan found another way.
His grand plan, which had few if any specifics, is more of the same as he’s given us the past five years. Where has that gotten us?
Any day older and deeper in debt.
“Where has that gotten us?” Johnny Cash had the answer: “Another day older, and deeper in debt.”
“…closing tax loopholes that benefit corporations…”
I wonder how his buddy Jeff Immelt is gonna take that.
Actually, it was Tennessee Ernie Ford.
Actually, Joe, Tennessee Ernie had that song, Sixteen Tons, out long before Johnny Cash and ironically it was about coal and coal mining, something that gives Obama and others, especially Harry Reid, near apoplexy. They believe they are saving the earth by making it difficult to use this cheap and abundant fuel here, forgetting that other nations, e.g., China, build coal plants faster than we can erect windmills and solar panels… that we import from there. I often wonder if Harry Reid is at some melancholy stage, he always seems on the edge of weeping no matter the subject of his speeches, or maybe he just feels terribly sad that the three branches of government he once believed in no longer amounts to anything. Congress is becoming more irrelevant with each passing day while all power slides to the executive branch.
I’m trying to curb my anger over being repeatedly lied to by this band of corrupt tin pots. Zerø and his ilk, KNOW, that we know he’s lying, but he does it just the same. At least BJ Clinton had the decency to “mea culpa” after the blue dress surfaced.
And Kerry? What a perfect foil for Sec State. Botox man, with his sham plan.
In other words, the federal deficit has decreased dramatically, will not function as a drag on economic growth for at least the next decade, and its very long-term problems have nothing to do with discretionary spending.
contact: Hamilton-for-Governor-Of-Nevada 2014 (702-882-3786)
GOVERNOR BRIAN SANDOVAL’s “SCREW RURAL NEVADA” policy
Henderson, NV (September 18, 2013) As the new governor of Nevada in 2015, Republican Eddie InLiberty HAMILTON will RESTORE ADEQUATE FUNDING for Western Nevada College in Carson City, NV (a program servicing five Nevada rural counties), where young American CITIZENS could prepare for a career in manufacaturing, mining or nursing (just a step away from getting jobs and el governor senor Sandoval pulled the rug from under them).
Governor senor SANDOVAL arbitrarily slashed $1.7 million in funding to W.N.C and then diverted $40,000,000.00 to unproven school program for CHILDREN OF NON-CITIZENS, currently residing in the Las Vegas Valley, without proper papers. Republican Ed Hamilton, the Conservative Choice for Governor of Nevada in 2014 is PRO AMERICAN CITIZENS, but governor Sandoval has an education policy called “SCREW RURAL NEVADA”.
Furthermore, a Governor Hamilton will also PROTECT the American ICON, the MUSTANG from being abused by government…
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Page: 10 like thi
Nyp: When you decried the presence of nutjobs on this blog, I’ll acknowledge that there’s one person who fits that bill.
Hey – he sounds like a man for his time.
Of course Milty is referring to Eddie.
I have no choice other than to agree with Steve Sebelius on the odds of Eddie actually securing any elected public office.
I hope you mean the horse, not the car. (Sometimes its difficult to tell with you, Eddie.) At least you provide some entertainment along the way.
US debt has decreased, “dramatically”?? One source says $16.9 trillion. Another source says $17.2 trillion.
I guess it depends on your meaning of the word “is” (standard progressive play book) or in this case, “dramatically”.
You’re free to believe and espouse all the lies you want, petey. If you want to be seen as a nutjob, that is your right!
Don’t blame us, blame the guy in the mirror.
When Obama took over from Bush – as the worst part of the Great Recession — the federal deficit was about 10% of the US economy. In 2012 it was about 7%. The CBO now projects that in 2015 it will be about 2.2 percent.
Athos is saying Debt.
Spinning and spinning and spinning.
Glad to see you agree the federal deficit is not a real problem for at least the next decade.
It’s the spending.
Why? Why not the shortfall in revenues? Or a combination of spending plus inadequate revenues?
Because the spending is sucking capital out of the economy.
Huh?? With interest rates as low as they have been for the past five years?? With corporate cash reserves at near record highs?
There is no CEO in America who would say “I would love to build a new facility, but I can’t because the capital to do so just isn’t available.”
But there are plenty who would say “I would love to build a new facility, but I can’t because the domestic demand just isn’t there.”
So, does today’s move by the FED inspire confidence in the future or indicate the stagnation continues?
It indicates fear that Congress will continue to depress the economy and may even crash things by defaulting on the debt.
That would be catastrophically bad.
The Fed policy committee spelled it out for you guys:
“fiscal policy is restraining economic growth”
And Bernanke in his press conference:
“”A factor that did concern us was some upcoming fiscal decisions,It is the case I think that a government shutdown, and perhaps even more so a failure to raise the debt limit, could have very serious consequences for the financial markets and for the economy. …Our ability to offset these shocks is very limited, particularly a debt limit shock, and it’s very important that Congress and the administration work together to ensure the government is funded, that the government pay its bills, and that we avoid any event like 2011 that had for a time a noticeable effect on confidence in the economy.”
So the fed is blaming Congress for the stagnation in the economy.
Of course Nyp and his gang will say its the conservative blocking everything and I bet those on the conservative side will blame many of the liberals, pointedly I think Harry Reid owns a large portion of the responsibility for obstructing legislation. He should let House bill fail in the Senate by vote rather than by his own obstructionism. His continued blocking of house bills only adds to people seeing a total lack of attempted work in the WHOLE Congress.
The FED is correct.
And petey is a useful idiot!
A trillion $ deficit is still a trillion $ spent that we don’t have.
President Humpty Dumpty can’t change the laws of economics, like he thinks he can “heal” the planet, or charm Al Queeda.
Delusional fools following a delusional fool.
No thank you, petey.
12 days to ObamaCare, Athos.
Where do you plan on hunkering down?
“Now, this debt ceiling — I just want to remind people in case you haven’t been keeping up — raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you’ve already racked up, Congress. It’s a basic function of making sure that the full faith and credit of the United States is preserved.” – Obama
Or is it Doublethink? Maybe both…
War is Peace, Freedom is Slavery, Ignorance is Strength, Debt is Wealth
The President is absolutely correct. The debt ceiling authorizes the government to pay bills it has already incurred. If, for some insane reason, you do not wish the government to ever operate at a deficit, lower the budget authorization levels.
But you guys really, really don’t want to screw around with the debt ceiling. Blowing up the full faith & credit of the United States government would have catastrophic consequences for the global economy.
It’s like a credit card. You don’t keep kicking up the unpaid balance every month.
Actually, it is not like a credit card at all.
But, if it were, you would not announce that you were defaulting on your unpaid balance.
Do not screw around with the full faith & credit of the United States. That would be very, very scary.
NYP, pls check this quote, I’m too lazy:
“And to preserve their independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.” – Thomas Jefferson
That one, for once is not bogus.
Do not screw around with defaulting on US governmental obligations. The consequences would be grave.
Oh look, here’s a nice overview of the Federal Reserve System, so you won’t have to read The Creature from Jekyll Island:
Now, some may believe that it’s OK for the fascist/globalist banksters to control the economy of the U.S., and to continually destroy the value of the dollar through inflation, and to keep us in ever-increasing perpetual debt, but I do not, and neither did our Founders (except the bastard Hamilton).
I got as far as the part about the Federal Reserve not being a governent agency, and didn’t need to read any further.
Default, no. Stop charging, yes.
That is great. All you need to do is elect Senators, Representatives and Presidents who agree with you.
Just don’t default on obligations to pay for past expenditures if you don’t get your way.
The debt ceiling forces the country to examine its spending habits.
Nyp is actually correct. Like a personal budget, if we want to clear up debt, we have to spend less and pay off current obligations.
So how about it Nyp? You on board with electing people who will spend less? There are currently a good number of them in the House of Representatives and back in ’10 a bunch of you guys were on board (40% of TEA identified themselves as Democrat or Independent.) Its too bad your peeps in office don’t understand the concept of spending less and this forces the endless debt ceiling debates which do harm all by themselves.
So Nyp, how about it, spend less or keep digging the credit hole deeper and deeper?
No. I am in favor of spending more and taxing more, although I am open to reductions in farm subsidies and would be willing to accept changes in Medicare and Social Security. Current discretionary spending does not pose an economic problem of any kind, and entitlement spending (i.e., Medicare) will not pose an economic problem for at least the next decade.
But if you elect Senators, Representatives and Presidents who agree with your point of view, you will get what you desire, notwithstanding my objections.
A “Tax and Spend Liberal”
Well…. ’10 showed what happens when you shove stuff up the public’s rear end against their will.
You better hope ACA works…
That is precisely what I am.
“I got as far as the part about the Federal Reserve not being a governent agency, and didn’t need to read any further.”
Ignorance is Strength
nyp on September 19, 2013 at 7:19 am
12 days to ObamaCare, Athos.
Where do you plan on hunkering down?
With my union buddies on the picket line!
Where you gonna be, petey? In the loft of your parents home?
At a celebratory party of my revolutionary cell.
BTW, here is a very useful primer on deficit issues:
ACA and Walgreens, good or bad?
Private insurance exchanges are a good conservative idea.
I say it remains to be seen.
In the article you see detailed Walgreens employees will be able to hold premium costs to as little as 5 dollars a month,,,,,for catastrophic care policies that are no better than the minimeds they have had to date.
What the premiums might be for a bronze policy is totally in question and an average is impossible to predict at this point. These people don’t have much to spare now, ACA takes nice bite and it could get ugly.
You better be hoping it works out, these are the people you guys like to bamboozle on a regular basis.