POTUS Tells Michigan Things Will Get Tougher As He Introduces New Plan for Community Colleges
EmailABC News' Jake Tapper and Sunlen Miller report:
WARREN, MICHIGAN — Calling the recession a “transformative moment” President Obama today came to the state with the highest unemployment rate in the country and warned that many more jobs will be lost in the coming months. The president argued that his administration is trying to re-build an economy better prepared for the 21st century, introducing a $12 billion investment in two-year colleges to better prepare for a world where associates’ degrees will be in greater demand, and calling it a historic step for community colleges not seen since the passage of the original GI Bill and the work of President Truman's Commission on Higher Education.
“What we face is far more than a passing crisis,” the president told residents of Michigan, where the jobless rate is approaching 15%. “It's not the time to shrink from the challenges we face and put off tough decisions. That's what Washington has done for decades. And it's exactly what I ran for president, to change that mindset.”
President Obama told the thousands gathered at Macomb Community College that he understands how they’ve been especially hard hit by this crisis.
“The statistics are daunting,” the president said. “In the whole country now, the unemployment rate is approaching 10 percent. And here in Michigan, it's about 5 points higher. And, you know, new jobs reports are going to be coming out, and we're going to see continuing job loss, even as the economy is beginning to stabilize. Now, that's not just abstractions. Those just aren't numbers on a page…Those are extraordinary hardships, tough times, for families and individuals who've worked hard all their lives and have done the right things all their lives.”
Obama said that his administration has a job to do – to get the economy back on track, and challenged those who complain about the economic mess without helping.
“I love these folks who helped get us in this mess and then suddenly say, ‘Well, this is Obama's economy,’” the president ad-libbed. “That's fine. Give it to me. My job is to solve problems, not to stand on the sidelines and carp and gripe. So I welcome the job. I want the responsibility.”
In his first visit to Michigan since the campaign, the President used a car-friendly example of his problem solving for the local crowd, saying that his unpopular move to help bailout GM and Chrysler from collapse earlier this year was at first questioned – a move he defended today as the “right thing to do.”
“Today, after a painful period of soul-searching and sacrifice, both GM and Chrysler have emerged from bankruptcy,” Mr. Obama said. “Remember: folks said there was no way they could do it. They've gotten it done already, in record time, far faster than anybody thought possible.”
Arguing that jobs requiring at least an associates’ degree will grow twice as fast as those for high school graduates in the coming years, the president outlined a new program for post-high school education called the American Gradation Initiative to train workers for new jobs. The Initiative will reform and fund community colleges through offering competitive grants, investing $10 billion in loans to renovate and rebuild colleges, and building a virtual infrastructure by offering more on-line classes.
“By 2020, this nation will once again have the highest proportion of college graduates in the world,” he pledged. “We used to have that. We're going to have it again”
The President promised that the plan will not add to the deficit. It will be paid for, he says, though money saved by ending wasteful subsidies provided to banks and lenders from student loans.
As he said in the past, the economic foundation cannot be repaired without the reform of the health care system and he warned that the debate currently being battled out on Capitol Hill cannot be won by those resistant to his efforts.
“There's going to be a major debate over the next three weeks,” Obama said referencing the August recess deadline, “And don't be fooled by folks trying to scare you, saying we can't change the health care system. We have no choice but to change the health care system, because, right now, it's broken for too many Americans.”
The president, who earlier in the day said his “expectation is, is that we will probably continue to see unemployment tick up for several months,” concluded by saying that “the road to recovery, the road to prosperity, is going to be hard…And it's going to take time. There are going to be false starts and there are going to be setbacks. But I am confident that we can meet the challenges we face, because that's what we've always done. That's what America does. We hit some challenges, we fuss and argue about it, and then we go ahead and go about the business of solving our problems.”
-Jake Tapper at the White House and Sunlen Miller in Michigan with the President
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“I love these folks who helped get us in this mess and then suddenly say,
=========
Does he include Governor Granholm in that group of folks?
It would be interesting if Obama would have gone to Michigan to get information, rather than to make a speech.
He should inform himself about what got Michigan into this mess. Granholm is a Democrat, and has been governor of Michigan since 2003.
Then, Obama should look at what got the automakers into the mess they are in. They offered wonderful benefits – like health care and college tuition- to workers, but they did not grow enough to sustain the costs of such generous programs.
Is he making the same mistakes with our country?
Posted by: MayBee | July 14, 2009, 5:53 pm 5:53 pm
“I love these folks who helped get us in this mess and then suddenly say, ‘Well, this is Obama’s economy,’” the president ad-libbed. “That’s fine. Give it to me. My job is to solve problems, not to stand on the sidelines and carp and gripe. So I welcome the job. I want the responsibility.”
Awesome! That’s what I voted for!
Posted by: GeorgeMichael | July 14, 2009, 5:58 pm 5:58 pm
Does this fool of a President think we are this dumb? His jab at Republicans saying that they got us into this…absolutely unbelievable. Barney Frank and Maxine Waters, the list goes on with Democrats on VIDEO denying for years of the coming disaster of Fannie and Freddie, and roadblocking regulations of them.
Obama said the stimulus would create jobs…wrong. We all knew it. Obama said Health Care reform and Cap and Tax is the answer….wrong. If these pass through Congress, we will have lost our liberties completely. And we all know it. Do not wait to call your Congressmen. Will it make a difference? I don’t know if it will now. But what if it does? Do you want to tell your grandchildren you simply did nothing, when they ask you why you let our great country, founded with liberties and freedom, become a government-controlled socialist slave machine?
Make no mistake, that when Obama says he wants to remake America, he wants our Constitution repealed. And he will stop at nothing. Unless we find ways, whatever they may be, in dissent, protest, and action…to derail this Socialist Train. We the People need to head it off with the Freedom Train, block it at all costs, and put us back on the right track.
Posted by: clint | July 14, 2009, 6:05 pm 6:05 pm
MayBee, I know we are cousins and all, and I really the time we share together, more than you know…
But Granholm did not cause the Big Three to run their business like idiots… They did it themselves. And now they are laying people off.
And, Granholm did not deregulate the financial sector, blow trillions in Iraq, or cut federal oversight of big business.
She’s not without fault, don’t get me wrong… but she could not have forced the auto companies to build cars that people buy. Now, of course, government can do that sort of thing… but only because the US auto industry is in free fall and to let them hit ground would be an extinction level event.
Posted by: GeorgeMichael | July 14, 2009, 6:05 pm 6:05 pm
Why do so many bloggers use the term “POTUS”?
The proper term is “The President” or “President Obama”. We’ll know who you are talking about.
You didn’t say “POTUS” during President Bush’s term, did you? Why start now?
Posted by: Gigglesworth | July 14, 2009, 6:09 pm 6:09 pm
The president deserves credit for leveling with the American people and not promising that he has a silver bullet for the ongoing Bush/Republican recession.
Posted by: matt | July 14, 2009, 6:17 pm 6:17 pm
“By 2020, this nation will once again have the highest proportion of college graduates in the world,” he pledged. “We used to have that. We’re going to have it again”
How? Because he has a brilliant Dept. of Education led by Arne Duncan? The same Arne Duncan who was unable to move the dial for high school graduation rates much above 50% while he was the CEO of Chicago Public Schools? More rhetoric from The One…
Posted by: tjp612 | July 14, 2009, 6:24 pm 6:24 pm
Citizens of Michigan:
You get the government you deserve. We all do. Perhaps you’ll see things differently come 2010 & 2012.
Posted by: tjp612 | July 14, 2009, 6:25 pm 6:25 pm
“The president deserves credit for leveling with the American people and not promising that he has a silver bullet for the ongoing Bush/Republican recession. ”
Ah, no. The president deserves to be blasted between his dopey jugears for lying about the stimulus- it was, according to him, going to be an immediate shock to the economic system, saving/creating jobs and turning around our economy. That failed.
Now dupes like yourself with very short memories are lauding him for lying about what he lied about previously.
Stalin called people like that “useful idiots”- wonder what barky is calling them?
Posted by: 2Brixshy | July 14, 2009, 6:27 pm 6:27 pm
Where are the 4 million jobs Obama promised to create/save (85%+ from private sector)?
The “stimulus” package passed, yet Obama tells us more bad news to come.
He promised unemployment would not exceed 9% if Congress passed the “stimulus” package. We are at 9.5% and 11% is not out of the question in 2010.
Where are the jobs?
Posted by: tjp612 | July 14, 2009, 6:28 pm 6:28 pm
“Why do so many bloggers use the term “POTUS”?”
So as to clearly delineate obama from the actual brains of the outfit, TOTUS.
Posted by: 2Brixshy | July 14, 2009, 6:29 pm 6:29 pm
tip612,I live in Michigan and am very impressed with Jennifer Granholm. it was not she who squashed every creative idea she ever came up with, it was of course our MI party of “no” in Lansing, who insisted that doing nothing was the best course forward, and made changing course impossible. Now back to Fox News Tip!
Posted by: jim | July 14, 2009, 6:33 pm 6:33 pm
$1,000,000,000,000 = the deficit… so far, 13+ percent of the country’s gross domestic product…
The First Rule of Holes: When you find yourself in a hole, stop digging!
Karl Denninger: “We are in a credit recession. We cannot get out of the credit recession until the conditions that led to it no longer exist. The conditions that led to it are too much debt and too much leverage…”
You cannot spend yourself out of debt. At some point you have to ask yourself, are they doing this on purpose? Creating more crises to take advantage of?
Posted by: Danilo | July 14, 2009, 6:33 pm 6:33 pm
tjp612 . . .
From the introduction of the Recovery and Reinvestment Act, President Obama has clearly and repeatedly said the recovery from this economic crisis would not be easy, nor would it be fast.
President Obama cautioned that things might get worse before they got better.
That you did not understand this is not the fault of the President.
You’ve already heard the President say that job creation will head toward a peak in 2 years – that would be 2011.
But again, you seem not to hear or understand that.
Perhaps you should listen, instead of imagining a snap of the fingers could fix everything.
Posted by: danita | July 14, 2009, 6:36 pm 6:36 pm
Where is this all going to stop???? A trillion dollar budget deficit. And he keeps on spending. This president is even more of an idiot than the last one!
Posted by: I_Dislike_All_Politicians | July 14, 2009, 6:42 pm 6:42 pm
Obama: “Hurry, pass this stimulus or unemployment will go to 8 percent.”
Congress: “Hurry, we don’t have time to think or read. Pass the stimulus bill!”
Obama: “Hurry, pass Cap and Trade or we won’t have any electricity and the earth is going to burn up.”
Congress: “Hurry, we don’t have time to think or read. Pass the Cap and Trade bill!”
Obama: “Hurry, pass Health Care reform or everyone’s going to die or something.”
Congress: “Hurry, we don’t have time to think or read…”
Posted by: Theater of the Absurd | July 14, 2009, 6:47 pm 6:47 pm
“How? Because he has a brilliant Dept. of Education led by Arne Duncan? The same Arne Duncan who was unable to move the dial for high school graduation rates much above 50% while he was the CEO of Chicago Public Schools?”
CPS went from a graduation rate of 47% in 1999 to 55% in 2007 with large improvements in every demographic except Asians.
Posted by: Ryan C | July 14, 2009, 6:49 pm 6:49 pm
“Perhaps you should listen, instead of imagining a snap of the fingers could fix everything.”
But (contrary to your comments on your post – which are all true, but were statements made after The One started back-pedaling on his grandiose (but economically unsound) claims) Obama claimed if we “did nothing” we would be facing a economic disaster. The “stimulus” was passed and guess where we are? WORSE THAN IF NO ACTION HAD BEEN TAKEN ACCORDING TO PROJECTIONS BY OBAMA’S OWN WH STAFF (ROMER).
Look it up. Educate yourself.
Posted by: tjp612 | July 14, 2009, 6:50 pm 6:50 pm
Maybee: “Obama should look at what got the automakers into the mess they are in. They offered wonderful benefits – like health care and college tuition- to workers, but they did not grow enough to sustain the costs of such generous programs.
Is he making the same mistakes with our country?”
The unions bankrupted the auto industry and killed their golden goose. I’m gonna say, YES!
Obama is promising the same fate for America by taxing the most productive members of society to death and promising everyone else that government is going to give them everything they want.
Posted by: WhereWasThePress? | July 14, 2009, 6:52 pm 6:52 pm
“The “stimulus” was passed and guess where we are? WORSE THAN IF NO ACTION HAD BEEN TAKEN ACCORDING TO PROJECTIONS BY OBAMA’S OWN WH STAFF (ROMER).
Look it up. Educate yourself.”
Which shows what a mess we would have been in without a stimulus plan as the projections were too rosy.
Posted by: Ryan C | July 14, 2009, 6:55 pm 6:55 pm
Regarding Romer . ..
“In a report released on July 13, Romer’s Council of Economic Advisers says the stimulus bill is creating opportunities for workers in health care, education and energy. The report reiterates that the economists believe the stimulus plan will create 3.5 million jobs by the end of 2010. “The various forms of fiscal stimulus are expected to provide powerful upward pressure on aggregate demand and to aid recovery,” Romer’s group says.”
Posted by: danita | July 14, 2009, 6:59 pm 6:59 pm
She’s not without fault, don’t get me wrong… but she could not have forced the auto companies to build cars that people buy.
=========
No. Of course I meant Granholm was responsible for running Michigan, and the automakers responsible for their own problems.
Both failures are worth studying, I believe.
Now, someone remind me….was Barack Obama in the US Senate for 4 years prior to becoming President? Is he part of the mysterious “they” who got us into this situation?
Posted by: MayBee | July 14, 2009, 7:11 pm 7:11 pm
What good is college if there is no job when you graduate. Imagine what unemployment will be like 4 years from now if it continues at the current rate.
Posted by: guesswhaturwrong | July 14, 2009, 7:19 pm 7:19 pm
Watching Mr. Obama all through the primaries, the election and now the Presidency, one thing that I am sure of about the economy is that two years from now, the unemployment rate is still bad, Mr. Obama will not run out of excuses.
Posted by: young_voter | July 14, 2009, 7:24 pm 7:24 pm
This is this best thing he has done since coming into office.
Posted by: truth serum | July 14, 2009, 7:46 pm 7:46 pm
Yes, I am a conservative because I am in favor of minimal gov and will vote for the candidate who concurs, and I don’t care if the decision maker has a D or R after his/her name. What I am very concerned about is that this experiment in socialism will bring down the whole financial deck of cards and along with it Social Security, Medicare. etc.
I just turned seventy and work full time as a driver for an auto parts company. I would strongly suggest to everyone, especially those dependent on Social Security, that if you are working – keep working and save as much as possible to help you survive, what I believe to be a coming disaster. Also, I would start or continue a regular habit of good diet with plenty of exercise – as a help to ward off disease. Single payer health care? Forget it, or are you one of those who scoff at Canadians when they tell you they have to wait over a week for an MRI or get turned down for an operation because of their condition or age. Fear mongering? Your choice!!
Posted by: Jimbo | July 14, 2009, 7:52 pm 7:52 pm
President Obama may be doing good things but does anyone out there ask the question, “where is the money coming from to pay for all these things”? It really doesn’t take a rocket scientist to figure out it coming out our taxes at some point! He may be cutting some spending in government but we’re talking $trillions of dollars by the time he’s done, not just billions!
Posted by: realist | July 14, 2009, 7:56 pm 7:56 pm
Seems to me making higher education less expensive for the average guy is a good idea. Seems to me the tax cut for 95% of Americans means the average guy is paying less in taxes. Seems to me the President wants to make health insurance less expensive for the average guy. Seems to me the President’s stimulus bill means people like teachers, firemen, police, road builders, engineers, cops, autoworkers, etc. are working and not collecting unemployment. Seems to me that green energy is a primary new growth sector for the economy. Seems like this sector will employ thousands and thousands and thousands of Americans. Red blooded, backyard barbecuing Americans. Seems to me this is all very good. I also think it’s time for the average person to get a break. I think “It’s our time.”
Posted by: Charles Carruth | July 14, 2009, 8:05 pm 8:05 pm
NOBODY EXPECTS OBAMA TO WAVE A MAGIC WAND AND ALL WILL BE WELL. HOWEVER, WHEN HE IGNORES PROVEN STRATEGIES THAT HAVE HELPED US OUT OF PASSED RECESSIONS, SUCH AS LOWERING THE CORPORATE TAX RATE, AND ELIMINATING OR DECREASING THE CAPITAL GAINS TAX, IN FAVOR OF THROWING OUR CHILDRENS’ MONEY AT MAKE WORK JOBS AND PROGRAMS THAT CANNOT POSSIBLY CREATE TRUE ECONOMIC GROWTH – ONLY THE PRIVATE SECTOR(BUSINESS)CAN DO THAT.
Posted by: Jimbo | July 14, 2009, 8:17 pm 8:17 pm
No wonder the White House switched this event from the originally announced town hall meeting to a speech. Did they really want people in Michigan asking the president tough questions? Nope, they wanted a photo op and a sound bite that created the impression that the president is on the job. Guess they did not think they could fill the audience with friendly questioners like they did the health care town hall in Virginia.
Posted by: GetReal | July 14, 2009, 8:21 pm 8:21 pm
Don’t blame me … I inherited this mess!!!
Posted by: Inherit | July 14, 2009, 8:24 pm 8:24 pm
THE AMISH HAVE TO “LOL”ING AT ALL THIS CRADLE TO THE GRAVE STUFF – SURE STIMULATES PERSONAL RESPONSIBILITY, INDIVIDUAL INCENTIVE AND GOOD OLD “YANKEE INGENUITY.”
Posted by: Jimbo | July 14, 2009, 8:26 pm 8:26 pm
Posted by: Gigglesworth | Jul 14, 2009 6:09:45 PM
Moderators aside, last time I checked this is still a free country. I guess you don’t remember all the names the libs called Bush. When they apologize, I’ll start calling The Big Kahuna: President Obama, ok? Payback is – well you know.
Posted by: Traffic Cop Timmy | July 14, 2009, 8:27 pm 8:27 pm
the ongoing Bush/Republican recession.
Posted by: matt | Jul 14, 2009 6:17:51 PM
____________________________________
You mean the ongoing Bush/Republican/Maxine Waters/Barney Frank/Chris Dodd/Franklin Raines/Daniel Mudd/Democratic recession, right?
Posted by: Traffic Cop Timmy | July 14, 2009, 8:28 pm 8:28 pm
“I love these folks who helped get us in this mess and then suddenly say, ‘Well, this is Obama’s economy,’” the president ad-libbed. “That’s fine. Give it to me. My job is to solve problems, not to stand on the sidelines and carp and gripe. So I welcome the job. I want the responsibility.”
Posted by: danita | July 14, 2009, 8:29 pm 8:29 pm
Timmy . ..
Just listening to Barney Frank speak on the mortgage situation stating he wanted low rental accommodations for those of small income, but Bush and the Republicans pushed for the “ownership” society even for those of low income.
May not have been the best idea.
Posted by: danita | July 14, 2009, 8:31 pm 8:31 pm
WHO IS GOING TO HIRE ALL THESE THOUSANDS OF NEW WORKERS? IT WILL HAVE TO BE THE FED, AS THE PUBLIC SECTOR (BUSINESS) IS NOT THE LAND OF OZ. I SAW A GREEN CAR THE OTHER DAY – MIGHT SURVIVE IN A CAR CRASH, BUT A TRUCK CRASH? GET REAL!!!
Posted by: Jimbo | July 14, 2009, 8:35 pm 8:35 pm
“Bush and the Republicans pushed for the “ownership” society even for those of low income.”
LOL It was Clinton and Janet Reno. Check your so-called facts.
Posted by: I_Dislike_All_Politicians | July 14, 2009, 8:38 pm 8:38 pm
Seems to me not everyone is suited for higher education. Paying to get them into college only to have them drop out and never finish seems more expensive, not such a good idea. Check into the academic records of many full-ride athletes.
Seems to me expecting 5% of Americans to pay for themselves and everyone else is unrealistic and patently unfair.
Everyone should hav a stake in our government. The average guy should pay and average amount of taxes.
Seems to me the President wants to make health insurance less expensive which will actually artificially control the market. Without Tort Reform doctors will not be able to afford to keep their practices causing shortages and longer wait times for appointments.
Longer wait times mean more Americans will die waiting or be diagnosed so late that they will be denied care.
Seems to me the President’s stimulus bill means people like teachers, firemen, police, road builders, engineers, cops, autoworkers, etc. are working and not collecting unemployment but a whole lot of other people are not.
It’s un-American for the president to pick and choose whose job is subsidized and whose job is outsourced or eliminated.
Seems to me that green energy is a pipe dream right now and that we need to explore clean coal, drilling for U.S. oil and nuclear energy which is good enough for France and the United Arab Emirates (who happen to also have oil).
Seems like for every “green” job gained will result in two well paying jobs lost. Thousands and thousands and thousands of Americans will be put out of work. Red blooded, backyard barbecuing Americans will lose their jobs so leftists can gain power and the country will lose power.
Seems to me this is all very bad.
I also think it’s time for the average American to get a clue. The liberals have become leftists. Trickle up misery and poverty will hit the middle class first.
I think it’s time to wake up and stop being subservient to the Democratic party and take responsibility and pride in living your own life.
Posted by: Rose colored glasses | July 14, 2009, 8:39 pm 8:39 pm
So what help will be community college when there are no jobs for those that do attend? Michigan is finished. Save yourself, move to Texas or Florida.
Posted by: Terry | July 14, 2009, 8:39 pm 8:39 pm
Two year colleges are a good first step but unless we’re moving solely toward an economy based on lower paying associate degree jobs, our kids are still going to need that 4 year degree.
Posted by: jan | July 14, 2009, 8:42 pm 8:42 pm
“From his earliest days in office, Mr. Bush paired his belief that Americans do best when they own their own home with his conviction that markets do best when let alone.
“He pushed hard to expand homeownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards.”
Posted by: danita | July 14, 2009, 8:51 pm 8:51 pm
“Two year colleges are a good first step but unless we’re moving solely toward an economy based on lower paying associate degree jobs, our kids are still going to need that 4 year degree.”
Actually, most 4 year degrees will get you nowhere these days either. If you’re going the college route, you better double major to compete, and you really better count on grad school as well. A 4 year degree is just about equal to a 2 year degree these days.
People are FAR better off going to actual TRADE schools which will give them real skills that they can take wherever they go.
Posted by: paul | July 14, 2009, 8:52 pm 8:52 pm
Check the FACTS danita before you post.
“The Clinton-Reno threat of vigorous enforcement pushed banks to make the now-infamous loans that many blame for the current meltdown. Banks, in order not to get in trouble with the regulators, had to make loans to people who shouldn’t have been getting mortgage loans in the first place.”
Google Clinton Reno Redlining and see what you come up with.
Posted by: I_Dislike_All_Politicians | July 14, 2009, 8:54 pm 8:54 pm
Just read today that CIT is in big trouble – if they go under it will affect hundreds of businesses. The clock is ticking, Obama. Business pays the bills, not the public sector. Until you understand that basic economic concept, IT WILL BE “THE OBAMA DEPRESSION” -AND VERY SOON!! “NICE TO DO” IS NOT THE SAME AS “NEED TO DO.”
Posted by: Jimbo | July 14, 2009, 8:55 pm 8:55 pm
I’m impressed he recognizes the value of community college degrees. America’s 4-year University system is the envy of the world (heck, California’s alone is the envy of any nation in the world), but it is not necessary or desireable for everyone. There is a real demand for the shorter format, just as there is a real demand for technical craftsmen.
I am impressed that this administration – often derided for being elites clearly respects and appreciates the value of other educational paths.
Posted by: jhw539 | July 14, 2009, 8:58 pm 8:58 pm
“During the 1990s, Washington pushed Fannie and Freddie to expand their role providing loans for low- and middle-income borrowers.
“In 2002, the Bush administration charted a more aggressive course by pushing for lower down payments and touting vouchers that would allow public-housing tenants to one day own homes.”
Posted by: danita | July 14, 2009, 9:03 pm 9:03 pm
“In 2004, President George W. Bush campaigned on lower barriers to homeownership as part of the domestic agenda for his second term. The Republican Party platform that year singled out the down payment as the “most significant barrier to homeownership.”
wall street journal
Posted by: danita | July 14, 2009, 9:06 pm 9:06 pm
“THE RICH WILL FUND NATIONAL HEALTH CARE.” NO, BUT WHAT IT WILL DO IS DRIVE MANY OF THEM TO INVEST IN OFFSHORE OR FOREIGN MARKETS OR MOVEE THEIR BUSINESSES TO SAME. AND THEN GUESS WHO WILL BE LEFT BEHIND TO PAY FOR ALL THIS JUNK???? DUH.
Posted by: Jimbo | July 14, 2009, 9:10 pm 9:10 pm
Some of you are really “off the hook” in your comments….
Gov intervention does not equal socialims, marxism, or any other “scary” labeling you want to throw around….guess spending billions on weapon systems that never get used while lowering gov’t rev through tax decreases is considered “wise”…NOT!! By the time Reagan came into office the USSR was already on the downswing and couldn’t compete…too bad our three letter agencies COULDN’T SEE THAT!! Way to go defense industry…you really cleaned house and screwed the taxpayer!!
Republicans could have won the white house if they simply had “IDEAS”, they didn’t!! Reaganomics was a ‘BUST’…and we say what the neo-cons ddid to the economy by trying to bring democracy to those who want to define gov’t for themselves….$2 trillion down the drain in Iraq and the Iraqi’s will NOT pay us back.
Some of you conservatives need to stop drinking the Kool Aid and get off the crack!! Likewise, you democrats need to scale back and position for a better fiscal future…..
We need a third party alternative!!!
Posted by: DShirley | July 14, 2009, 9:11 pm 9:11 pm
Jimbo:” NO, BUT WHAT IT WILL DO IS DRIVE MANY OF THEM TO INVEST IN OFFSHORE OR FOREIGN MARKETS ”
Just like they did under Reagan (much higher capital gains tax, which is the majority of income for the ‘rich’), or Bush Sr, or Clinton when taxes were as high or higher than proposed? Why would returning to the traditional level of taxation proven to support a vibrant economy suddenly result in massive flight from the country?
Posted by: jhw539 | July 14, 2009, 9:12 pm 9:12 pm
paul:”People are FAR better off going to actual TRADE schools which will give them real skills that they can take wherever they go. ”
A *technical* 4 year degree is still more valuable. After the housing bust, trades are no where near in as great of demand.
Posted by: jhw539 | July 14, 2009, 9:17 pm 9:17 pm
Posted by: danita | Jul 14, 2009 9:12:16 PM-
Way to go danita….love it when the TRUTH is told….conservatives ought to be cringing in their boots about now!!
Posted by: DShirley | July 14, 2009, 9:18 pm 9:18 pm
jhw539 – Capital gains tax is the majority of income for the rich? How can a tax be income? Reagan lowered taxes across the board and things “boomed.” Businesses in the US pay the second highest corporate taxes in the world (next to Japan). So let’s squeeze them a little more – wonderful.
Posted by: Jimbo | July 14, 2009, 9:23 pm 9:23 pm
“In 2004, President George W. Bush campaigned on lower barriers to homeownership as part of the domestic agenda for his second term. The Republican Party platform that year singled out the down payment as the “most significant barrier to homeownership.”
wall street journal
Posted by: danita | Jul 14, 2009 9:06:20 PM
==========
From the same article:
“Government policies have promoted homeownership for decades, from Franklin D. Roosevelt’s New Deal, which paved the way for the 30-year mortgage, to postwar policies that explicitly ensconced it as a federal goal.”
But this is off topic for this thread, so I’ll leave it at that.
Posted by: Jen | July 14, 2009, 9:32 pm 9:32 pm
GEE, I WONDER WHY COUNTRIES IN EUROPE ARE FLEEING FROM OBAMA TYPE SOCIALIST PROGRAMS THAT HAVE BEEN DISASTERS? YOU WOULD THINK THE RATIONAL AND INTELLIGENT PEOPLE OVER HERE WOULD PAY ATTENTION TO WHAT IS GOING ON OVER THERE. DUH!!
Posted by: Jimbo | July 14, 2009, 9:34 pm 9:34 pm
“In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.” 1/20/2004
Posted by: danita | July 14, 2009, 9:50 pm 9:50 pm
Jimbo:” Reagan lowered taxes across the board and things “boomed.”"
Taxes on the rich are lower than under Reagan due to the much lower capital gains tax. A large portion of income for the rich is capital gains (according to publicly released data from the IRS).
Bush lowered taxes all through his tenure, so I suppose things are booming now according to your simplistic analysis, right?
Posted by: jhw539 | July 14, 2009, 10:01 pm 10:01 pm
Y’all vilifying the evil rich people… you DO realize that if you redistribute the wealth through taxes and penalties, there won’t be any rich left to pay the higher tax rates. You’ll all have to carry a heavier tax load to make up for it. Good luck with that…
Posted by: Traffic Cop Timmy | July 14, 2009, 10:08 pm 10:08 pm
THINGS “WERE” BOOMING FOR THE FIRST SIX YEARS OF THE BUSH ADM. FULL EMPLOYMENT, STEADY GROWTH OF THE GNP – AND THAT WAS WITH 911 AND THE WAR ON TERROR. WHEN THE DEMS TOOK OVER CONGRESS IN 06 THINGS STARTED TO SLIDE. BUSH WARNED THE BARNEY FRANKS A NUMBER OF TIMES BEGINNING IN 01 ABOUT THE REAL POSSIBILITY OF A HOUSING MARKET COLLAPSE (Ref.NYTimes, BUT FRANKS REBUFFED BUSH, STATING NO PROBLEM. MANY OF US CONSERVATIVES NOW FEEL THAT BUSH SHOULD HAVE GONE DIRECTLY TO THE AMERICAN PEOPLE ABOUT THE DANGER TO THE HOUSING MARKET, WHICH HE DID NOT DO,ALTHOUGH IN FAIRNESS HE WAS TOTALLY ABSORBED WITH THE TERROR PROBLEM.
Posted by: Jimbo | July 14, 2009, 10:44 pm 10:44 pm
Posted by: Jimbo | Jul 14, 2009 8:55:12 PM-
It sucks when amateur conservatives like yourself post nonsense!
1- CIT “HAS” received $2.3B already from the stimulus. So what did they do with it!! Businesses are laying off not hiring!!
2- They will get more gov’t money if they sell off some of the $32B in assets they have to improve their liquidity..why should the tax payer fork out more money when they are SITTING ON ASSETS!!
Get real!!
Posted by: DShirley | July 14, 2009, 10:49 pm 10:49 pm
Posted by: Jimbo | Jul 14, 2009 10:44:32 PM-
OMG, another conservative living in the “TWILIGHT ZONE”!!
Posted by: DShirley | July 14, 2009, 10:51 pm 10:51 pm
“President Bush announced an Administration effort to increase home ownership rates among African Americans and Hispanics by 5.5 million by 2010.
“The plan would provide down payment assistance to 40,000 minority homebuyers.
“Bush’s plan would be closely tied to some $440 million in minority loan programs offered by Fannie Mae and Freddie Mac. President Bush commended Fannie Mae and Freddie Mac’s efforts . . . ”
Putting the mortgage crisis in place
Posted by: danita | July 14, 2009, 11:13 pm 11:13 pm
Posted by: danita | Jul 14, 2009 11:13:45 PM
Nice, truth be told!
Posted by: DShirley | July 14, 2009, 11:20 pm 11:20 pm
I WAS VERY MUCH OPPOSED TO THE BUSH BAILOUT/STIMULUS PACKAGE AND EVEN MORE SO THE OBAMA PACKAGE. THEY ARE A COMPLETE WASTE OF THE PUBLIC MONEY AND A DETRIMENT TO REAL RECOVERY AND ECONOMIC GROWTH. ECONOMIC GROWTH CAN ONLY TAKE PLACE IN THE PRIVATE SECTOR MAKE WORK PROGRAMS AND JOBS ARE A FARCE AS WE ARE FINDING OUT NOW. AS A SENIOR I AM VERY MUCH AFRAID THAT THE OBAMA SPENDING WILL CAUSE NOT ONLY THE ECONOMY TO COMPLETELY TANK, BUT WILL TAKE DOWN SOCIAL SECURITY AND MEDICARE WITH IT. THE “OBAMA DEPRESSION” IS UPON US. LIBERAL ARTS MAJORS RUNNING A CAPITALIST SOCIETY – WONDERFUL!!
Posted by: Jimbo | July 14, 2009, 11:23 pm 11:23 pm
I can’t help but wonder in a year or two or three if Obama and libs will still blame Bush for this mess. Probably,they surely can’t fix this economy by throwing money at it. Real incentives to business and investors have a chance of working. The Obama stragety has no chance.
Posted by: Manitu | July 14, 2009, 11:47 pm 11:47 pm
POTUS is annoying. Don’t do that. You’re not edgy, you’re lame.
Posted by: Joe | July 14, 2009, 11:47 pm 11:47 pm
I agree with Joe, Jake Tapper should simply use President Obama or the President – it’s not that difficult.
“POTUS” is shoddy.
Posted by: danita | July 15, 2009, 1:14 am 1:14 am
The neophyte’s honeymoon is over and
we are beginning to see an “ugly duck-
ing” before us. The problem for Obama
is that there is no “magnificent swan”
in the offing. Just a duckling that
will turn out to be just a duck….
probably lame to boot.
Posted by: Trajan | July 15, 2009, 1:31 am 1:31 am
I like POTUS, TOTUS and SCOTUS. It is cool and edgy, like Barry (*before* he wore the mom jeans at the All-Star game).
The only one I have a hard time pronouncing is VPOTUS, so I call him “Joey B.”
Posted by: Danilo | July 15, 2009, 10:20 am 10:20 am
Concerning the POTUS shorthand– did you guys never watch “West Wing”? The very first scene of the first episode was my introduction to the term POTUS– Rob Lowe’s character has to explain the acronym to the chick he had sex with who saw a message on his phone/beeper/I forget what. POTUS is not a put-down, but was once a sort of insider jargon that has gone mainstream.
Posted by: moderate | July 15, 2009, 10:32 pm 10:32 pm
The Stimulus Plan is not working. It is not designed to stimulate this economy, it is designed to forward a liberal agenda – it will never stimulate the economy directly.
So what is it going to take to convince the world that the “Emperor has no clothes?” 10% unemployment? 13%, 14% 15%? 20%
The President has a dog in this race. It was his plan (that Polosi and Reid wrote) and he sold it – pure and simple. He blamed Bush the whole time (naturally) but he owns this recovery.
Guess what, folks? The economy is not recovering and since we have all had some time to both read the Bill and see the results there is little evidence that it will directly impact the health of the economy in the short or long term.
Regardless of what many of the members of this forum thought of Bush he would have never let this mess get to this level. He made many mistakes but he never took his eye off the ball – so, you folks up there in Michigan and PA and Indiana, Ohio and New Jersey that are at the sharp end of the pencil in the unemployment in this country – take a look, open your eyes and you might notice that ‘the Emperor has no clothes.”
Posted by: Lone Star Rules | July 16, 2009, 7:52 am 7:52 am