By Matt Loffman

May 7, 2010 12:17pm

Armed With Positive Job Creation Numbers, President Obama Offers Sunny Assessment of the Economy

Armed with Bureau of Labor Statistics report that the economy added 290,000 new jobs to the rolls in April, President Obama this morning heralded “the largest monthly increase in four years” and “the largest increase in manufacturing employment since 1998,” statistics that he was sure to point out come “on the heels of a report last week that the overall output of our economy, our GDP, is increasing.”

Jobs numbers for February and March were revised, he noted, with the economy having created 121,000 more jobs than previously estimated, meaning “we’ve now seen job growth for four months in a row,” he said.

The White House had clearly made the decision to accentuate the positive. And while the president didn’t entirely eliminate the negative – he pledged to keep working to reduce the unemployment rate – his assessment was decidedly sunny.

The president acknowledged that the unemployment rate increased to 9.9 percent, from 9.7 percent, but he said this was “largely a reflection of the fact that workers who had dropped out of the workforce entirely are now…seeking jobs again, encouraged by better prospects.”

Mr. Obama did not mention another contributing factor to the increase in the unemployment rate: that many Americans whose unemployment benefits are running out are now seeking employment. Nor did he mention that the “U-6” labor underutilization number – assessing those who cannot find full-time employment, or those so discouraged they have stopped looking for work — increased for the third month in a row, to 17.1%.

Approximately 230,000 of the jobs created in March were in the private sector, the president noted, saying that “there are limits to what the government can do. The true engine of job growth in this country will always be the private sector.”

He said the administration was hard at work to “create the conditions for companies to hire again,” including the series of tax incentives and other steps to promote hiring, tax cuts for hiring unemployed workers, companies being able to write off more of their investments in new equipment, the promotion of additional investments in school renovation, clean energy projects and road construction, and House passage yesterday of a bill to offer rebates to Americans who upgrade the energy efficiencies of their home, the so-called “cash for caulkers” bill.

Moreover, “four million small businesses recently received a postcard in their mailbox telling them that they’re eligible for a health care tax cut this year,” he added, pushing Congress to help pass a $30 billion small-business lending fund “which would help increase the flow of credit to small companies that were hit hard by the decline in lending that followed the financial crisis.”

The president took a moment to address “the unusual market activity that took place yesterday on Wall Street,” saying regulatory authorities are evaluating this closely, “with a concern for protecting investors and preventing this from happening again.” Their findings and recommendations will be made public, he said.

Regarding the Greek debt crisis, the president said he spoke this morning with German Chancellor Angela Merkel to re-assert US cooperation with the European Union and International Monetary Fund to help solve the problem.

The president stood in the South Driveway of the White House to make his remarks, flanked by his top economic aides: Treasury Secretary Tim Geithner, Labor Secretary Hilda Solis, Commerce Secretary Gary Locke, Budget chief Peter Orszag, National Economic Council director Larry Summers, chair of the Council of Economic Advisers Christina Romer. He took no questions after he spoke, and walked back to the Oval Office with his arm around Solis, the rest of his team trailing behind him.

-Jake Tapper and Sunlen Miller

User Comments

So what happens when all the temporary census workers hired in March and April get laid off in July?

Posted by: OhioMom | May 7, 2010, 12:32 pm 12:32 pm

Today’s positive results must be because Obama has focused like a laser on jobs.
Or maybe because America always rebounds from a recession even without passing a $800B stimulus bill(most of which still hasn’t been spent).
Who knows how much quicker the economy would have rebounded if Obama had not borrowed and spent like a madman, and passed a HC bill that is certain to raise taxes and kill jobs.
Consumers and employers simply do not know what to expect from Obama and his agenda. Alittle too soon for Obama to brag about the still fragile economy.

Posted by: ollie | May 7, 2010, 12:33 pm 12:33 pm

Obama has nothing to worry about.
The MSM will pay up the fact that the economy added 290K jobs, then leave off the part about the unemployment rate going up to 9.9%.

Posted by: fran | May 7, 2010, 12:42 pm 12:42 pm

“Approximately 230,000 of the jobs created in March were in the private sector, the president noted . . .”
Excellent.

Posted by: tierra | May 7, 2010, 12:52 pm 12:52 pm

In addition to a cumulative gain of 573,000 jobs over the past four months (including 231,000 private sector jobs in April and 66,000 temporary positions for the 2010 Census), manufacturing and retail sales have picked up and the overall economy has also continued to expand since last summer (check the GDP).

Posted by: There is no Planet B | May 7, 2010, 12:58 pm 12:58 pm

Obama will not see unemployment at less than 8.5% during his term in office. His ideology, economic incompetence, and profligate spending will prevent significant economic recovery.
Pay attention to what’s going on in Greece, folks. It’s a preview of what’s to come here (most likely sans the rioting).

Posted by: tjp612 | May 7, 2010, 1:21 pm 1:21 pm

So what happens when all the temporary census workers hired in March and April get laid off in July? posted by OhioMom
—-
Let’s hope the job market continues to grow so that there will be more permanent jobs available then.

Posted by: malcat | May 7, 2010, 1:36 pm 1:36 pm

I hate to burst any bubbles, but what is going on in Times Square? Did the Obama administration really take this attempted bomber off the Terrorist Surveillance List?What is today’s excuse?

Posted by: Nephron | May 7, 2010, 1:42 pm 1:42 pm

I guess when you make 5 million dollars
and have everything at your disposal,
its easy to have a sunny assessment.
Tells me he is a clueless detached dolt

Posted by: wis134 | May 7, 2010, 1:46 pm 1:46 pm

“Approximately 230,000 of the jobs created in March were in the private sector, the president noted . . .”
Excellent. Certainly contradicts the ‘all government job’ propaganda put out by the Republican right.

Posted by: tierra | May 7, 2010, 1:51 pm 1:51 pm

“Approximately 230,000 of the jobs created in March were in the private sector, the president noted . . .”
Excellent.
Posted by: tierra | May 7, 2010 12:52:57 PM
What type of jobs are these? What is the average wage? Are they service oriented, manufacturing, blue collar, white collar, skilled, non-skilled, professional?
As a skilled professional with a college degree I have seen no increase in the job postings in the past few months. In fact, I have seen fewer postings after a small surge near the start of the year. My dry spell heads into month five. My longest ever since I entered the work force as a teenager.

Posted by: For The Record | May 7, 2010, 1:56 pm 1:56 pm

At the grocery store yesterday, an elderly man was struggling to bag my groceries. Are these the private sector jobs that are so “excellent?” Is this what Hope and Change has to offer us today?

Posted by: For The Record | May 7, 2010, 2:01 pm 2:01 pm

So what happens when all the temporary census workers hired in March and April get laid off in July?
OhioMom | May 7, 2010 12:32:16 PM
A spike in the unemployment number that would prove devastating to Democrats in November.
But most of these jobs aren’t census jobs, so that will be just another Republican talking point proven to be a lie by reality.

Posted by: jhw539 | May 7, 2010, 2:10 pm 2:10 pm

Posted by: For The Record | May 7, 2010 1:56:29 PM
NYT:
“Recent economic data shows manufacturing picking up and government said that sector added 44,000 jobs in April. Since December, factory employment has risen by 101,000. Employment in professional and business services rose by 80,000, and 45,000 jobs were added in the leisure and hospitality sectors, which has grown by 121,000 jobs since December, mostly in food services work.”
Sometimes when times are tough in a given field, you can’t be too precious and elitist about what work you’ll do, FTR.

Posted by: progressive mama | May 7, 2010, 2:11 pm 2:11 pm

One thing that I noted from the labor report (front page on bls.gov) is that the while the unemployment figures for the country as a whole is 9.9% and 9.15% for adults, teenagers are having much more trouble with 25.4%.
That means that there are a significant number of young people that are having a hard time getting their foot in the door for empolyment opportunites.
That worries me because as the labor market stays tight those who have prior experience will have a greater chance at employment, however we have 1/4 of the youth not able to get this experience, coupled with the administration coming down hard on companies who have unpaid intern programs. How are the youth supposed to get job experience if they have difficulty finding a company willing to invest time to give then the experience necessary to start a career?
Additionally we see that the work week has only inched up to 33.4(up by .1 hours) hours a week and salaries are more or less flat as well. Though there are some hiring, to me, it looks more like businesses in 2008-2009 cut staff as much as possible to cut, and tried to increased productivity, through innovation or hardware/software upgrades, then now they are looking to fill staffing holes, but there isn’t, as yet a large scale recovery to be seen.
I think we have to look for an average work week around 37+ hours before we can say we are well on the way to recovery. April’s numbers are promising but there are subtle hits throughout the report that seem in favor of a long protracted recovery.

Posted by: bobtherepublican | May 7, 2010, 2:11 pm 2:11 pm

to For the record: From the Bureau of labor statistics release:
by sector
+44k manufacturing
+7k mining
+14k construction
+80k business/profesional services
+26k temps
+45k leisure/hospitality
+20k health care
+66k federal
-20k in transportation
average workweek up to 34.1 hours(increase of .1 hours)
The information on wages say average hourly earnings up $.01 to $22.47 as a whole.
Also “In April, average hourly earnings of private-sector production
and nonsupervisory employees increased by 5 cents to $18.96.”
Still trying to dig around to explain those last two employee categories though I would imagine its manufacturing and service industry employees…maybe. Jhw539 do you have any idea?

Posted by: bobtherepublican | May 7, 2010, 2:22 pm 2:22 pm

Sometimes when times are tough in a given field, you can’t be too precious and elitist about what work you’ll do, FTR.
Posted by: progressive mama | May 7, 2010 2:11:09 PM
I’m pleased you can make that comment knowing nothing about me or my situation. Or was this just general sage advice? Having worked my way up from bagging groceries in high school to where I am today, I am fortunate enough to have put money aside for the dry spells. I don’t need to bag groceries like that poor man I saw yesterday to get by. I can afford to be a little “elitist” if I choose to do so. It is still my choice right? And even if I could not, what makes you think I am not working to get by while watching my specialty for when things pick up? Perhaps that’s the dry spell I was referring to. I truly resent your implications. Truly.

Posted by: For The Record | May 7, 2010, 2:24 pm 2:24 pm

April’s numbers are promising but there are subtle hits throughout the report that seem in favor of a long protracted recovery.
bobtherepublican | May 7, 2010 2:11:55 PM
These are all valid ruminations, but the more interesting question is what to do about it?
At this point, I do not see much more the government can do. Perhaps a bit more stimulus targeted specifically towards infrastructure, as much because we can buy bridges cheap right now (seriously, bids are coming in under budget all over the place) and need them as to create ditch digger jobs, but it’s almost too late in the cycle to really pour more government money in; it would be competing with private industry by the time it hit.
I’m starting to think Congress should go and beat out the immigration issue and move to the carbon tax/national debt (if the Republicans man up and play ball, the carbon tax will be how the deficit is ultimately dealt with) next year, when the economy is firmly settled.

Posted by: jhw539 | May 7, 2010, 2:25 pm 2:25 pm

Jhw539 do you have any idea?
bobtherepublican | May 7, 2010 2:22:07 PM
No clue here. If you want to get down into the weeds, I’d recommend looking up Hale “Bonddad” Stewart’s writings over at fivethirtyeight. Serious gristle for the details geek in his economy postings.

Posted by: jhw539 | May 7, 2010, 2:31 pm 2:31 pm

I truly resent your implications. Truly.
Posted by: For The Record | May 7, 2010 2:24:56 PM
Fair enough. Resent them. But whatever the case may be, you exploit your situation often enough to make partisan points, and you don’t punches very often when chatting with those who hold different views from you.

Posted by: progressive mama | May 7, 2010, 2:35 pm 2:35 pm

don’t pull punches — correction to last post

Posted by: progressive mama | May 7, 2010, 2:36 pm 2:36 pm

***I’m starting to think Congress should go and beat out the immigration issue and move to the carbon tax/national debt (if the Republicans man up and play ball, the carbon tax will be how the deficit is ultimately dealt with) next year, when the economy is firmly settled.
Posted by: jhw539 | May 7, 2010 2:25:40 PM***
I’m more in favor of a VAT myself, but combined with an overhaul of the tax system. With as many deductions and loopholes we have much of the taxable income is hidden and the government misses its revenue targets.
I personally would like to see something like a three teired income tax(10% to $150k, 15% to $350k and 20% greater than $350k) combined with a 12% VAT and 10% Capital gains on investments greater than $500k, with no corporate income tax.
The VAT would be used exclusivly to pay down the Federal debt, and to create a “rainy day fund” that several states use to good effect. Income tax and capital gains revenue would be used for the general budget.

Posted by: bobtherepublican | May 7, 2010, 2:38 pm 2:38 pm

Posted by: bobtherepublican | May 7, 2010 2:11:55 PM
Thanks for the breakdown and your thoughts. It would be nice if Jake would link to the report. I had to go find it myself. Poor blogging technique, Jake.
I agree with your worries about the teens. I think about 120,000 teens enter the workforce every month and I would not be surprised to see the government not taking this into account or helping them. I guess during hard times, the adults with families get the priority when the fast food job comes up. Speaks poorly for us as a nation to be in this situation after we’ve come through so much in the past 100 years.
I think that corporations are just now starting to migrate off Windows XP and onto Windows 7 so that will help IT professionals like myself get back in the game. I had an interview yesterday with a company that is doing just that. I know that Microsoft is committed to make this migration one that companies will want to make. In the past there has been no reason to leave XP due to the headaches involved. Larger companies are now starting to take the plunge.

Posted by: For The Record | May 7, 2010, 2:38 pm 2:38 pm

So what happens when all the temporary census workers hired in March and April get laid off in July?
OhioMom | May 7, 2010 12:32:16 PM
But most of these jobs aren’t census jobs, so that will be just another Republican talking point proven to be a lie by reality.
Posted by: jhw539 | May 7, 2010 2:10:32 PM
Right. Not most. Only 22.7%. It’s certainly a heavy percentage.
Let’s make sure they get counted as lost jobs when the census is over.

Posted by: For The Record | May 7, 2010, 2:51 pm 2:51 pm

***In the past there has been no reason to leave XP due to the headaches involved. Larger companies are now starting to take the plunge.
Posted by: For The Record | May 7, 2010 2:38:36 PM***
True, the company I work for still uses XP.
I personally just upgraded my wifes computer to Windows 7 to try it out before I upgrade mine as well. I pass vista by with a yawn and a cringe. Not enough benefits for the change and the system requirements were too high, compared to XP, which I’ve used since about 2003. Win 7 looks pretty good so far, though I may wait until the first service pack is released before I upgade…time will tell.

Posted by: bobtherepublican | May 7, 2010, 2:58 pm 2:58 pm

So the unemployment rate goes up and he thinks that is good news?? The real number is 17.1%! he mentioned that small business can get a tax credit for healthcare(fairly small), but what America needs is tax cuts for everyone that pays taxes! If the govt offered an incentive of cutting corp taxes if people are hired, than maybe we would get somewhere

Posted by: DJ | May 7, 2010, 2:59 pm 2:59 pm

Woo Hoo 9.9% unemployment, numbers to be proud of LOL

Posted by: Scott | May 7, 2010, 3:01 pm 3:01 pm

you exploit your situation often enough to make partisan points, and you don’t [pull] punches very often when chatting with those who hold different views from you.
Posted by: progressive mama | May 7, 2010 2:35:46 PM
I will endeavor to be more consistent.

Posted by: For The Record | May 7, 2010, 3:05 pm 3:05 pm

I personally would like to see something like a three teired income tax(10% to $150k, 15% to $350k and 20% greater than $350k) combined with a 12% VAT and 10% Capital gains on investments greater than $500k, with no corporate income tax.
The VAT would be used exclusivly to pay down the Federal debt, and to create a “rainy day fund” that several states use to good effect. Income tax and capital gains revenue would be used for the general budget.
bobtherepublican | May 7, 2010 2:38:19 PM
So would you be completely eliminating all defense spending and half of Medicare, or all defense spending and a third of Social Security taxes? No modern nation in the history of mankind has operated with that low a taxation scheme (assuming you really do keep the VAT out).
And a rainy day fund makes no sense at the federal level, but I assume you mean it would go to appreciate the currency value (err, causing deflation… a big economy killer… OK, lets just assume the VAT would be sunset?).

Posted by: jhw539 | May 7, 2010, 3:05 pm 3:05 pm

Team Obama projected 7.6% unemployment vs. reality of 9.9% unemployment-only off by 30%, and the projection is less than 1 ½ years old.
I can hardly wait to see how good their Health Care projections turn out over 10-20 years, using same level of accuracy (incompetence) we can expect an error rate of 200% to 400%.
Maybe time to start considering the IMF’s mandate to Greece (“Another reform high on the list is removing the state from the marketplace in crucial sectors like health care, transportation and energy and allowing private investment.” NYT, April 30, 2010).

Posted by: JMo | May 7, 2010, 3:08 pm 3:08 pm

So the unemployment rate goes up and he thinks that is good news?? The real number is 17.1%!
DJ | May 7, 2010 2:59:47 PM
The U6 was over 7% even at the peak of the economic boom in the 90′s. It was over 10% for 11 months in 2003.
It’s fine to use the U6, but dishonest if you just cherry pick it now because it looks big. U6 is and always has been much higher.

Posted by: jhw539 | May 7, 2010, 3:11 pm 3:11 pm

Posted by: DJ | May 7, 2010 2:59:47 PM
You’re obviously digressing from today’s enthusiasm.
Hey folks, here’s a thought re taxes. How about everybody pay some! On all levels! Everyone pay their FAIR share! Wouldn’t everyone feel better if they were helping out with all levels of taxation?

Posted by: For The Record | May 7, 2010, 3:11 pm 3:11 pm

The U.S. jobless rate rose to 9.9% in April, the first increase in three months, but the government’s broader measure of unemployment ticked up for the third month in a row, rising 0.2 percentage point to 17.1%.
The comprehensive gauge of labor underutilization, known as the “U-6″ for its data classification by the Labor Department, accounts for people who have stopped looking for work or who can’t find full-time jobs. Though the rate is still 0.3 percentage point below its high of 17.4% in October, its continuing divergence from the official number (the “U-3″ unemployment measure) indicates the job market has a long way to go before growth in the economy translates into relief for workers.

Posted by: JMo | May 7, 2010, 3:14 pm 3:14 pm

Team Obama projected 7.6% unemployment vs. reality of 9.9% unemployment-only off by 30%, and the projection is less than 1 ½ years old.
JMo | May 7, 2010 3:08:59 PM
CITATION PLEASE. Seriously, give me the actual quote INCLUDING THE FULL PAGE DISCLAIMER AND DISCUSSION OF ERROR BANDS. Oh, and include the date – and the FACT that the estimate was based on a different stimulus bill than what was actually passed.
Or just mindlessly parrot a talking point.
Let me guess which path you’ll choose.

Posted by: jhw539 | May 7, 2010, 3:14 pm 3:14 pm

Posted by: For The Record | May 7, 2010, 3:16 pm 3:16 pm

Hey, jhw, tell me who is cherry-picking numbers because they look BIG? Try President Obama! “Woo hoo! Look at all the jobs I create!”
For The Record | May 7, 2010 3:16:01 PM
That is not an actual quote, that is your slanted partisan paraphrase. Can you provide the ACTUAL QUOTE of Obama taking credit for the job creation? Not worth debating your latest mocking fabrication.

Posted by: jhw539 | May 7, 2010, 3:19 pm 3:19 pm

The notion presented by JHW and of course Tierra that these numbers are spectacular and something to hang your hat on are ridiculous and substaniates their obama talking points. The true reality to this economy is that we need over 400,000 jobs every month for the next three years to get back to acceptable levels of all americans that want to work are in fact working is at about 5.5%. So anything less than 400,000 jobs a month is a failure and only prolongs the problem. It also illustrates that spending a trillion dollars in job stimulus had very little impact on the creation of jobs and can be called a failure. History shows us that markets and recessions have to take their course and once corrected will rebound on its own. The spending of all this money has actually hindered this process because of the massive debt accumulated which is a major reason for the slow growth in jobs. We did not even mention the ramification of the cost of the health care bill yet since it will take a few years for that to be fully implemented. And yet JHW will continue to tell you that the cap and trade legislation will create job growth….right JHW

Posted by: David | May 7, 2010, 3:27 pm 3:27 pm

“Mr. Obama did not mention another contributing factor to the increase in the unemployment rate: that many Americans whose unemployment benefits are running out are now seeking employment. Nor did he mention that the “U-6” labor underutilization number – assessing those who cannot find full-time employment, or those so discouraged they have stopped looking for work — increased for the third month in a row, to 17.1%.”
Hey, jhw, tell me who is cherry-picking numbers because they look BIG?

Posted by: For The Record | May 7, 2010, 3:27 pm 3:27 pm

So does the U.S. Dept of Labor count the 120,000 or so teens who potentially enter the workforce as they come of age every month?

Posted by: For The Record | May 7, 2010, 3:30 pm 3:30 pm

The notion presented by JHW and of course Tierra that these numbers are spectacular and something to hang your hat on…
…anything less than 400,000 jobs a month is a failure and only prolongs the problem…The spending of all this money has actually hindered this process because of the massive debt accumulated which is a major reason for the slow growth in jobs…And yet JHW will continue to tell you that the cap and trade legislation will create job growth….
David | May 7, 2010 3:27:12 PM
That’s hilarious considering I actually posted on this very page that in my opinion carbon taxes should be put off due to concern about them dampening the recovery (May 7, 2010 2:25:40 PM). Did you not bother to read anything I posted in your zeal to attack some fantasy strawman?
Can you support any of your character attack on me with ACTUAL QUOTES? Or provide any ACTUAL DATA to support your fanciful economic analysis?

Posted by: jhw539 | May 7, 2010, 3:31 pm 3:31 pm

Posted by: jhw539 | May 7, 2010, 3:33 pm 3:33 pm

Speaking of carbon footprints, why DID Al Gore start living next to the ocean when according to proven science that is a bad idea?
Won’t his mansion end up under water when the oceans rise?

Posted by: For The Record | May 7, 2010, 3:34 pm 3:34 pm

Hey, jhw, tell me who is cherry-picking numbers because they look BIG? Try President Obama! “Woo hoo! Look at all the jobs I create!”
For The Record | May 7, 2010 3:16:01 PM
Hey, jhw, tell me who is cherry-picking numbers because they look BIG?
For The Record | May 7, 2010 3:27:55 PM
Can you or can you not back up your initial mocking of the President with a quote FROM THE PRESIDENT, as you implied? (For the record, Jake is not the president and his quote doesn’t supports your original fabricated attack on the president.)

Posted by: jhw539 | May 7, 2010, 3:35 pm 3:35 pm

***So would you be completely eliminating all defense spending and half of Medicare, or all defense spending and a third of Social Security taxes? No modern nation in the history of mankind has operated with that low a taxation scheme (assuming you really do keep the VAT out).
And a rainy day fund makes no sense at the federal level, but I assume you mean it would go to appreciate the currency value (err, causing deflation… a big economy killer… OK, lets just assume the VAT would be sunset?).
Posted by: jhw539 | May 7, 2010 3:05:48 PM***
Currently there are 47% of the population that don’t pay income taxes, usually those making under $50k a year would in my suggestion fall under the 10% bracket.
Additionally as the vat would hit all income brackets with that 12% tax it would raise more funds than you think. I need to dig up a estimate I read about a month ago on a 10% VAT but if I remember it correctly it alone would bring in 1 trillion into the treasury.
Realistically there would need to be adjustments in the budget, and by adjustments I mean cuts. Defense, entitlements, public employee contracts, private industry investment and tax rebates/deductions would all need to be on the table to balance the budget effectively.
As for Medicare and Social Security specifically we need to ask what do we now want these programs to do? Social Security was origially intended as a way to help those people who were unsually long lived, when the life expectency was about 62-66. Medicare was designed as a health insurer for elderly.
Medicare still functions as that same original concept, however operates with intolerable levels of fraud. Social Security no longer serves the same function as it once did and has become more of a public sector pension fund, when the private sector as a whole as moved away from such programs because of the high costs to the employeer.
Both need heavy adjustments to regain sovlency so that they can help the citizenry as originlly intended or reformed to provide for the support in a more effective manner, before they become totally insolvent.

Posted by: bobtherepublican | May 7, 2010, 3:43 pm 3:43 pm

cont. to Jhw539:
The “rainy day fund” though does have problems with it as you say though. It would deflate the currency too much to have a, say, $500 billion fund set up for national emergencies, or whatever amount, but something does need to be done so that when we have a crisis our only option is deficit spending.

Posted by: bobtherepublican | May 7, 2010, 3:45 pm 3:45 pm

“I’m starting to think Congress should go and beat out the immigration issue and move to the carbon tax/national debt (if the Republicans man up and play ball, the carbon tax will be how the deficit is ultimately dealt with) next year, when the economy is firmly settled.”
This (the carbon tax) would be disastrous to U.S.-based industry as it would lead to an exodus of U.S. manufacturers to countries with lower energy costs. Cap-and-tax will destroy American mfg.
But given Lefties don’t understand how the “real world” works, they think this is a great idea….

Posted by: tjp612 | May 7, 2010, 3:51 pm 3:51 pm

Can you or can you not back up your initial mocking of the President with a quote FROM THE PRESIDENT, as you implied?
Posted by: jhw539 | May 7, 2010 3:35:51 PM
Whatever.
You accuse a poster of cherry-picking numbers when the President in my opinion cherry-picks his own numbers, which you seem to have no problem with.
Froth away, “my friend.”

Posted by: For the Record | May 7, 2010, 3:57 pm 3:57 pm

Commander in Chief, of BS.

Posted by: Rick McDaniel | May 7, 2010, 4:21 pm 4:21 pm

CITATION PLEASE. Seriously, give me the actual quote INCLUDING THE FULL PAGE DISCLAIMER AND DISCUSSION OF ERROR BANDS. Oh, and include the date – and the FACT that the estimate was based on a different stimulus bill than what was actually passed.
It comes from the Chart that Chritine Romeer presented showing how the Unemployement rate would fare with/without the stimulous.

Posted by: JMo | May 7, 2010, 4:22 pm 4:22 pm

Dow Jones is “underwater for the year.” (for jhw: Neil Cavuto, Fox News, 5/7/10)
Sep 22, 2009 – $9,829
Dec 31, 2009 – $10,428
May 7, 2010 – $10,380
After a big run up from July to September 09, the Dow is 551 points higher than it was on Sep 22, 2009.
After years and years of the experts and the government encouraging Mutual Fund investment from the average worker, it’s pretty obvious to me that unless you are Wall Street savvy, a Regular Joe is not likely to flourish or be able to even save for the future in this environment.
Like real estate, I thought 401K’s were supposed to be for long term investment and to basically replace retirement plans. But there are so many forces at work that most of us have no knowledge of or control over, wild swings and ‘bubbles’ bursting have ruined these two investment vehicles.
Especially with 401Ks, one should be able to invest in a 401K and just “forget about it” until retirement arrives. Long term 401K profits are still possible but it requires much more energy than “promised.” I wonder what my balance would look like if the “risk takers” were not around to create this roller coaster. I would hope it would have been a lot bigger.

Posted by: For the Record | May 7, 2010, 4:23 pm 4:23 pm

Can you or can you not back up your initial mocking of the President with a quote FROM THE PRESIDENT, as you implied?
Posted by: jhw539 | May 7, 2010 3:35:51 PM
The quotation mark is also used to designate speech acts in fiction.
“Woo hoo! Look at all the jobs I create!”
Consider my comment a work of fiction titled ‘Armed With Positive Job Creation Numbers, President Obama Offers Sunny Assessment of the Economy.’

Posted by: For the Record | May 7, 2010, 4:35 pm 4:35 pm

Its spring folks, the job market always gets a seasonal bump in the spring. This administrations policies will hold a lid on the job market in the long run. Employers are going to be slow to hire if the cost of hiring an employee goes up.

Posted by: Jeff | May 7, 2010, 5:00 pm 5:00 pm

I’m starting to think Congress should go and beat out the immigration issue and move to the carbon tax/national debt (if the Republicans man up and play ball, the carbon tax will be how the deficit is ultimately dealt with) next year, when the economy is firmly settled.
Posted by: jhw539 | May 7, 2010 2:25:40 PM
there’s your quote.

Posted by: whatsgoingonhere? | May 7, 2010, 5:01 pm 5:01 pm

So does the U.S. Dept of Labor count the 120,000 or so teens who potentially enter the workforce as they come of age every month?
For The Record | May 7, 2010 3:30:55 PM
Yes, and the approximately 30,000 other people (legal immigrants, people with resolved health issues, etc) who enter the job market.
Posted by: jhw539 | May 7, 2010 3:33:35 PM
“Yes?” Can you show me where this? You once told me that, as an independent contractor, I was counted but that I believe was proven to be inaccurate.

Posted by: For the Record | May 7, 2010, 6:20 pm 6:20 pm

I think that corporations are just now starting to migrate off Windows XP and onto Windows 7 so that will help IT professionals like myself get back in the game. I had an interview yesterday with a company that is doing just that.
Posted by: For The Record | May 7, 2010 2:38:36 PM
Got a contract offer this afternoon for 6 months (plus possible extension/perm). I am making a sacrifice however. Two hour RT commute. Yuch. Looks like my carbon footprint will be growing again.
My dry spell appears to be over for now. No more watching Fox News all day! And it looks like I’ll be on Obama’s BIG numbers for May. ;-)

Posted by: For the Record | May 7, 2010, 6:27 pm 6:27 pm

Posted by: For the Record | May 7, 2010 6:27:12 PM
Interesting that I got this contract because the company has bought up several companies that were struggling but had good products to sell.
Free market.

Posted by: For the Record | May 7, 2010, 6:30 pm 6:30 pm

Obama’s press releases and analysis is beginning to sound very Sovietesque. With the willing press like the old Pravda. I admit the census hiring was a clever trick to boost numbers and take people off the rolls during a key reporting period but those aren’t real jobs. Even with Obama’s draconian, invasive census community survey the census jobs won’t last more than a month or so. But the people will be “working” and off the rolls for the reporting. Next we will be seeing how the wheat forecast is in alignment with the latest 5 Year Plan!

Posted by: Ed | May 7, 2010, 7:30 pm 7:30 pm

Additionally as the vat would hit all income brackets with that 12% tax it would raise more funds than you think. I need to dig up a estimate I read about a month ago on a 10% VAT but if I remember it correctly it alone would bring in 1 trillion into the treasury.
bobtherepublican | May 7, 2010 3:43:17 PM
The tax on the low earners wouldn’t bring in much – the income distribution is very strongly skewed to upper income levels. But IF you use the VAT for general funding (previously you said it would strictly be used for deficit and debt reduction), it can work. The VAT is a flat tax approach that could conceivably work.

Posted by: jhw539 | May 7, 2010, 7:42 pm 7:42 pm

Even with Obama’s draconian, invasive census community survey the census jobs won’t last more than a month or so.
Ed | May 7, 2010 7:30:39 PM
So if those jobs disappear in a month or so, the jobs reports will go negative. I have a feeling you don’t understand what this metric is or else you wouldn’t make such an absurdly ignorant statement sure to be absolutely proven wrong in a matter of months.

Posted by: jhw539 | May 7, 2010, 7:48 pm 7:48 pm

You accuse a poster of cherry-picking numbers when the President in my opinion cherry-picks his own numbers, which you seem to have no problem with.
For the Record | May 7, 2010 3:57:00 PM
So I guess you cannot give AN ACTUAL QUOTE of the president saying anything like you claimed he said. Glad I didn’t waste time arguing about your lie.

Posted by: jhw539 | May 7, 2010, 7:50 pm 7:50 pm

Posted by: jhw539 | May 7, 2010, 7:53 pm 7:53 pm

Put your money in an index fund,turn off the stock ticker for 6 years and wait it out.You don’t need to manage anything-the simplest,cheapest approach works best.Bogle is right.

Posted by: Nephron | May 7, 2010, 8:24 pm 8:24 pm

President Obama gives insincere lip service to “free markets”…i.e. “capitalism,” while working hard to bring down the most efficient capitalist nation in history!
I have grown tired of his doublespeak in which he spouts one lie after another, then claims that his governing style is working better than what we had before. It is amazing that Obama can speak such atrocious lies with a straight face!

Posted by: R. T. Tidwell | May 7, 2010, 8:29 pm 8:29 pm

In what universe is a jump in hiring in conjunction with increased unemployment positive news?
Actual unemployment is more like 20% or more. The figures issued by the government only reflect those receiving unemployment benifits. I guess once your unemployment checks run out, you don’t count anymore.

Posted by: Tom | May 7, 2010, 9:32 pm 9:32 pm

President Obama gives insincere lip service to “free markets”…i.e. “capitalism,” while working hard to bring down the most efficient capitalist nation in history!
Posted by: R. T. Tidwell | May 7, 2010 8:29:48 PM
_______________________________________
Pathetic fear mongering nonsense.

Posted by: tierra | May 7, 2010, 9:32 pm 9:32 pm

Anybody notice the near trillion dollar drop in value in the stock market in a few minutes on Thursday? How could that happen? Maybe because, like fiat currencies, there is no real value in stock. Most stock par values are $1 or less, and even that is questionable. The value in stock, like the value in the Dollar is an issue of faith… When people doubt, value flees…
Right now, as I type, there is a tidal wave (tsunami) of debt building. It is leaning down, obscuring the sun, and about to crash down on the American economy. It will carry all in its wake. No one will escape the consequences, not me, not you, not our children and grandchildren.
Look to Greece to see our future… There is absolutely no way to pay back the debt… Bad money chases out good.
Act now to protect your loved ones. Learn a trade, save things of enduring value, pay down debt, pray …

Posted by: Quo Warranto | May 7, 2010, 9:34 pm 9:34 pm

Like value in the Dollar, value in the Obama Presidency is faith-based.
If you look at his actual qualifications for the office, they are completely absent.
Therefore, he is in office because a sufficient number of people had faith.
That faith is evaporating and will soon be gone… what will remain?
We are living in uncertain times…

Posted by: Quo Warranto | May 7, 2010, 9:47 pm 9:47 pm

Right now, as I type, there is a tidal wave (tsunami) of debt building. It is leaning down, obscuring the sun, and about to crash down on the American economy.
_____________________________________
Too bad – Bush was handed a surplus by the Clinton administration and turned that into an additional $5 trillion in national debt – supposedly during a ‘strong’ economy – and then that collapsed.

Posted by: tierra | May 7, 2010, 9:56 pm 9:56 pm

“When people doubt, value flees…”
If so there is no better reason to broadcast a sunny assessment.
“There is absolutely no way to pay back the debt…”
What a bunch of baloney. There is more than enough wealth in this country to pay our debts, especially if we don’t dump the burden squarely on the shoulders of the middle class like the Republicans would be more than happy to do.

Posted by: Skip | May 7, 2010, 10:04 pm 10:04 pm

Too bad – Bush was handed a surplus by the Clinton administration and turned that into an additional $5 trillion in national debt – supposedly during a ‘strong’ economy – and then that collapsed. Posted by: tierra | May 7, 2010 9:56:50 PM
Bush, Obama, it doesn’t matter, what will be, will be (Que sera, sera). People living off government largesse should be particularly concerned… What is your plan…?

Posted by: Quo Warranto | May 7, 2010, 10:06 pm 10:06 pm

Too bad – Bush was handed a surplus by the Clinton administration and turned that into an additional $5 trillion in national debt – supposedly during a ‘strong’ economy – and then that collapsed.
Posted by: tierra | May 7, 2010 9:56:50 PM
———————————-
Bush, Obama, it doesn’t matter
Posted by: Quo Warranto | May 7, 2010 10:06:40 PM
____________________________________
Oh it certainly does matter.

Posted by: tierra | May 7, 2010, 10:08 pm 10:08 pm

There is more than enough wealth in this country to pay our debts,
Posted by: Skip | May 7, 2010 10:04:30 PM
One of the pillars of this country, and the wealth of this country is right of ownership of private property.
Do you propose theft as a means of accessing this wealth to pay down this debt?
After the theft, will there be someway to enforce fiscal discipline, or will the debt be run up again?
It doesn’t matter because the wealth of which you speak is dollar based. With the fall of the dollar, the wealth will be diminished.
The only answer is devaluation and inflation, which is the cruelest and most regressive tax of all. The rich guy can afford to invest in “inflation proof” commodities. The poor working slub, trying to put aside a couple of buck will have the value in that money stolen from him…

Posted by: Quo Warranto | May 7, 2010, 10:15 pm 10:15 pm

Bush, Obama, it doesn’t matter
Posted by: Quo Warranto | May 7, 2010 10:06:40 PM
____________________________________
Oh it certainly does matter.
Posted by: tierra | May 7, 2010 10:08:42 PM
____________________
How so? Mr. Bush is gone from the scene. Mr. Obama holds the reigns of power now. But either way, the crash is certain.
Mr. Bush ran up an inexcusable debt in 8 years. Mr. Obama has tripled down in 18 months.
But Mr. Obama cannot debase the dollar, that was done by Mr. Roosevelt, Mr. Johnson, Mr. Nixon. In and of itself, the Dollar is worthless — no intrinsic value.
What Mr. Obama has done, and continues to do, is to undermined the faith in the debased dollar. That faith will soon disappear, the Nation will be plunged into crisis.
What will you do to protect yourself and your loved ones…?

Posted by: Quo Warranto | May 7, 2010, 10:28 pm 10:28 pm

“It doesn’t matter because the wealth of which you speak is dollar based. With the fall of the dollar, the wealth will be diminished”
The debt is dollar based as well is it not? It’s better to owe China alot of weak dollars than strong ones.
“The rich guy can afford to invest in “inflation proof” commodities”
If so he can therefore also afford to invest in his country by willingly paying the taxes necessary to pay down the debt.

Posted by: Skip | May 7, 2010, 10:31 pm 10:31 pm

Posted by: tierra | May 7, 2010, 10:32 pm 10:32 pm

Posted by: Skip | May 7, 2010 10:31:30 PM
The rich have had their wealth swell greatly from the good times for the country – it would be Christian of them to help out during the difficult times. Of course, they only pretend to be Christian to get the votes.

Posted by: tierra | May 7, 2010, 10:36 pm 10:36 pm

Posted by: Quo Warranto | May 7, 2010, 10:37 pm 10:37 pm

Bush was the one who inherited a surplus and turned into an additional $5 trillion in debt – supposedly during a ‘strong’ economy – then that collapsed too.
We are fortunate he and the Republicans are gone.
Posted by: tierra | May 7, 2010 10:32:00 PM
_____________________
Just sing that lullaby to your grandchildren as they go to sleep hungry in the world after the crash…
Posted by: Quo Warranto | May 7, 2010 10:37:16 PM
__________________________________
It’s not a lullaby, its a political statement warning people of what the Republicans really did when they had power.

Posted by: tierra | May 7, 2010, 10:39 pm 10:39 pm

If so he can therefore also afford to invest in his country by willingly paying the taxes necessary to pay down the debt.
Posted by: Skip | May 7, 2010 10:31:30 PM
Taxes are not an investment. They are basically theft. It is using the power of government to remove money from one person who earned it to give it to another who did not.
Excepting, of course, the legitimate functions of government such common defense, roads, postal service, etc…
There is just not enough taxing ability to handle this debt…
The crash is inevitable now…

Posted by: Quo Warranto | May 7, 2010, 10:40 pm 10:40 pm

“Taxes are not an investment. They are basically theft”
Taxes are paying back to maintain the system from which all wealth is derived. Acquiring wealth and not paying taxes is theft.

Posted by: Skip | May 7, 2010, 10:44 pm 10:44 pm

The rich have had their wealth swell greatly from the good times for the country – it would be Christian of them to help out during the difficult times. Of course, they only pretend to be Christian to get the votes.
By the way, its Bush and the Republicans who were at the reins when the national debt took a $5 trillion leap – and the economy crashed. No wonder you’re so depressed about things Quo – look at the mess your heros created.

Posted by: tierra | May 7, 2010, 10:45 pm 10:45 pm

Leadership and learning are indispensable to each other.
-John F. Kennedy
___________________________________
Some things the Republicans seem to lack.

Posted by: tierra | May 7, 2010, 10:48 pm 10:48 pm

“The rich have had their wealth swell greatly from the good times for the country – it would be Christian of them to help out during the difficult times”
To their credit many notable very wealthy people [Democrats of course] have said they would more than happy to pay more taxes to help the country. When they vote for candidates who support letting the ridiculous Bush tax cuts expire they essentially vote to raise their own taxes.

Posted by: Skip | May 7, 2010, 10:50 pm 10:50 pm

I live in Illinois everyday on the radio the teacher union plays a commercial telling
you to call your state representative because
they have not funded enough money for all
their workers to keep their jobs. This is just
one of the state unions they all are crying for money. SOUND LIKE GREECE. Remember
fellow citizens this is OBAMA state and we
are very close to being bankrupt.

Posted by: deadwrestler | May 7, 2010, 10:53 pm 10:53 pm

The debt is dollar based as well is it not? It’s better to owe China alot of weak dollars than strong ones.
Posted by: Skip | May 7, 2010 10:31:30 PM
Exactly! That will be the trigger. The Chinese will realize that the debt is uncontrollable and will elect to not purchase any more.
They are already doing that… thats why the crisis is at hand. What exactly will you be doing to insulate yourself and you loved ones…?

Posted by: Quo Warranto | May 7, 2010, 11:03 pm 11:03 pm

Posted by: deadwrestler | May 7, 2010 10:53:23 PM
The magician performs the slight of hand to distract you from the fact its really the top 5% who got richer and richer sucking the money into their possession.
But sure, let’s blame it on the working and middle class.

Posted by: tierra | May 7, 2010, 11:04 pm 11:04 pm

By the way, its Bush and the Republicans who were at the reins when the national debt took a $5 trillion leap – and the economy crashed. No wonder you’re so depressed about things Quo – look at the mess your heros created.
Posted by: tierra | May 7, 2010 10:45:47 PM
Bush, Obama, Repub, Demo, it doesn’t matter… Our lives are about to change, what is your advice, on macroscopic level…?

Posted by: Quo Warranto | May 7, 2010, 11:06 pm 11:06 pm

Posted by: tierra | May 7, 2010, 11:09 pm 11:09 pm

“Taxes are not an investment. They are basically theft”
Taxes are paying back to maintain the system from which all wealth is derived. Acquiring wealth and not paying taxes is theft.
Posted by: Skip | May 7, 2010 10:44:41 PM
_______________
How Democratic of you to take part of a quote without the whole…
How Communist of you to say that accumulation of wealth is theft…
What will you do when the ability of the
Government no longer exists to pay out boundless largesse? Oh sure the payments will continue, but in devalued inflated dollars… There will be now ability to maintain cost of living adjustments… Service on the debt will sap all..

Posted by: Quo Warranto | May 7, 2010, 11:16 pm 11:16 pm

Bush, Obama, Repub, Demo, it doesn’t matter…
___________________________________
It most certainly does matter – you Republicans leave the country in an absolute mess, and your best answer is – it doesn’t matter.
Posted by: tierra | May 7, 2010 11:09:05 PM
Believe me, when you are standing in a bread line, it won’t matter who caused it, only who will end it…

Posted by: Quo Warranto | May 7, 2010, 11:18 pm 11:18 pm

How Communist of you to say that accumulation of wealth is theft…
________________________________
“Some will rob you with a six gun, some rob you with a fountain pen.”

Posted by: tierra | May 7, 2010, 11:18 pm 11:18 pm

Believe me, when you are standing in a bread line, it won’t matter who caused it, only who will end it…
Posted by: Quo Warranto | May 7, 2010 11:18:01 PM
______________________________________
It most certainly does matter – you Republicans leave the country in an absolute mess, and your best answer is – it doesn’t matter because we left such a big mess . . .

Posted by: tierra | May 7, 2010, 11:21 pm 11:21 pm

“Some will rob you with a six gun, some rob you with a fountain pen.”
Posted by: tierra | May 7, 2010 11:18:47 PM
And some of you, as do I, like Woodie Guthrie!

Posted by: Quo Warranto | May 7, 2010, 11:25 pm 11:25 pm

How Democratic of you to take part of a quote without the whole…
How Communist of you to say that accumulation of wealth is theft…
———————-
That must make you a Democrat then, because you only took part of my quote as well. I said accumulation of wealth without paying taxes is theft. I can’t imagine what it’s like to be so bitter about involuntarily helping others. The way right-wingers talk about making money as if they’re printing it in their basements….a simple test should suffice to demonstrate otherwise: Have yourself dropped off on a deserted island that has two palm trees and some seagulls with nothing but your shorts and some food and lets see if you can get rich. There is a difference between being genuinely concerned about inflation and overplaying the drama queen.

Posted by: Skip | May 7, 2010, 11:48 pm 11:48 pm

“Taxes are not an investment. They are basically theft.”
Yeah who needs police or fireman or roads or military or a justice system or etc etc etc
The right wing…stuck on stupid.

Posted by: Ryan C | May 7, 2010, 11:54 pm 11:54 pm

“They are already doing that… thats why the crisis is at hand. What exactly will you be doing to insulate yourself and you loved ones…?”
Hopefully your family gets you the help you needs before you end up on a street corner with a sandwich board.

Posted by: Ryan C | May 7, 2010, 11:55 pm 11:55 pm

What a bunch of baloney. There is more than enough wealth in this country to pay our debts, especially if we don’t dump the burden squarely on the shoulders of the middle class like the Republicans would be more than happy to do.
Posted by: Skip | May 7, 2010 10:04:30 PM
So as a taxpayer, Skip, when will you be sending in your $117,777.00 because as of this moment that’s how much you owe on the National Debt. Or will you be waiting for some rich guy to pay it for you. And that’s just the real-time National Debt. Doesn’t include debt we’re on the hook for.
Baloney is right. We all may be eating baloney within the next decade.

Posted by: For the Record | May 8, 2010, 12:02 am 12:02 am

If so he can therefore also afford to invest in his country by willingly paying the taxes necessary to pay down the debt.
Posted by: Skip | May 7, 2010 10:31:30 PM
Do you need the address of the IRS, Skip? As a taxpayer. you owe $117,777 (and counting).

Posted by: For the Record | May 8, 2010, 12:06 am 12:06 am

There is a difference between being genuinely concerned about inflation and overplaying the drama queen.
Posted by: Skip | May 7, 2010 11:48:10 PM
———————
Are you really so bitter?
Skip, I don’t care a whit about Democrat or Republican. I care about this country, our founding principles. I want them preserved for my children and grandchildren, great grandchildren.
There is a great trial at hand, there is no way to escape it. Our leaders, both Democrat and Republican have put us in a pretty fix.
I only hope that in the end there will still be an America where individual freedoms, individual rights, individual opportunities exist.
The crash will occur, there can be no doubt. All will suffer, perhaps billions will die in the world. Let us hope that at the end, some in America, will reestablish a what was…
The crisis will happen in our time…. What are you doing to prepare…?

Posted by: Quo Warranto | May 8, 2010, 12:07 am 12:07 am

Uh oh, the economy is adding jobs.
What will the right wing do?

Posted by: Ryan C | May 8, 2010, 12:11 am 12:11 am

Posted by: Foghorn Leghorn | May 8, 2010, 12:12 am 12:12 am

“this Cavuto guy” – really. Pretending you don’t watch Fox News I suppose. Never kid a kidder.”
Isn’t Cavuto on FoxBusiness which has a viewship somehwere in the tens of thousands?

Posted by: Ryan C | May 8, 2010, 12:12 am 12:12 am

“Do you need the address of the IRS, Skip? As a taxpayer. you owe $117,777 (and counting)”
I don’t think as citizens we’re either going to pay off the debt at a flat rate or all at once.

Posted by: Skip | May 8, 2010, 12:13 am 12:13 am

I don’t think as citizens we’re either going to pay off the debt at a flat rate or all at once.
Posted by: Skip | May 8, 2010 12:13:38 AM
And since you stated, “There is more than enough wealth in this country to pay our debts,” then I’m guessing you’re willing to wait it out – until we get it from the rich, that is. Am I right?

Posted by: For the Record | May 8, 2010, 12:20 am 12:20 am

I don’t think as citizens we’re either going to pay off the debt at a flat rate or all at once.
Posted by: Skip | May 8, 2010 12:13:38 AM
The debt cannot be paid, that is the problem… Devaluation, inflation are at hand… A general decrease in the standard of living…
Get the movie “The Southerner” for a glimpse into your future…

Posted by: Quo Warranto | May 8, 2010, 12:20 am 12:20 am

“The crash will occur, there can be no doubt. All will suffer, perhaps billions will die in the world. Let us hope that at the end, some in America, will reestablish a what was…”
But the only propositions you guys ever offer to avoid this otherwise inevitable terrible fate is cutting taxes and deregulating corporations. Americans have heard it too many times…they’re not buying it anymore.

Posted by: Skip | May 8, 2010, 12:21 am 12:21 am

“How did all those racists get in to the big tent?”
Nice of you to admit that the Arizona law is racist.

Posted by: Ryan C | May 8, 2010, 12:22 am 12:22 am

“But the only propositions you guys ever offer to avoid this otherwise inevitable terrible fate is cutting taxes and deregulating corporations.”
The end times fantasy is bizarre.

Posted by: Ryan C | May 8, 2010, 12:23 am 12:23 am

Today is a good day.
290,000 jobs were added, more people are seeking work.
The economy is improving.
And the right wing who wanted to watch the country burn is furious.

Posted by: Ryan C | May 8, 2010, 12:28 am 12:28 am

“- until we get it from the rich”
I’m willing to pay higher taxes. The argument over tax rates always comes down to what we all decide is fair. After the huge revenue giveaways to the wealthy from the Bush years you’ll have little success trying to shame me into believing it’s not time for the wealthy to pitch in this time.

Posted by: Skip | May 8, 2010, 12:30 am 12:30 am

“The end times fantasy is bizarre”
It’s amateur night at the Fear/Greed forum.

Posted by: Skip | May 8, 2010, 12:33 am 12:33 am

“The end times fantasy is bizarre”
It’s amateur night at the Fear/Greed forum.
Posted by: Skip | May 8, 2010 12:33:12 AM
——————–
In your opinion, how long can the borrowing go on….?

Posted by: Quo Warranto | May 8, 2010, 12:35 am 12:35 am

“Nope, but I’ll be on Obama’s BIG list for May – assuming I pass the background check and drug test.”
No Megan’s law in your state?

Posted by: Ryan C | May 8, 2010, 12:37 am 12:37 am

“In your opinion, how long can the borrowing go on….?”
Let’s just suffice to say I don’t think we can borrow indefinitely. But what makes you think I should want to offer any sincere reply only to have you respond “See! We’re all doomed! Get ready to eat your pets!” If you knock it off with the hysterics it’s much more likely somebody might take you seriously.

Posted by: Skip | May 8, 2010, 12:46 am 12:46 am

But the only propositions you guys ever offer to avoid this otherwise inevitable terrible fate is cutting taxes and deregulating corporations. Americans have heard it too many times…they’re not buying it anymore.
Posted by: Skip | May 8, 2010 12:21:45 AM
———————-
Americans may not be buying it anymore, but the are going to have to live with the consequences….
The only true solution is cutting spending. Limit the Federal Government to the enumerated powers. It has no business getting money from one person, one city, one state and giving it to another.
It’s not the taxes, it’s the spending. Stop it!

Posted by: Quo Warranto | May 8, 2010, 12:55 am 12:55 am

Let’s just suffice to say I don’t think we can borrow indefinitely. But what makes you think I should want to offer any sincere reply only to have you respond “See! We’re all doomed! Get ready to eat your pets!” If you knock it off with the hysterics it’s much more likely somebody might take you seriously.
Posted by: Skip | May 8, 2010 12:46:06 AM
———————
If our politicians lack the political will to stop spending now… why do you have any hope they will find it in the future?

Posted by: Quo Warranto | May 8, 2010, 12:59 am 12:59 am

Posted by: Skip | May 8, 2010, 1:18 am 1:18 am

The military is a legitimate function of the Federal Government and spending on the military should be cut or increased based on threat analysis. I support spending on military technology which is very expensive, but will pay off in the end. The last thing we should ever want is to have our guys in a fair fight with the enemy.
As for the entitlements, they should be cut… as quickly as possible, and ditto for the government programs that have no legitimate constitutional basis.
It’s hard to cut medicare, social security, etc., but it must be done. If programs are offered in these areas, it should be done at the State level, where the citizens have better access to government and better control over spending.
In my opinion, the Federal Government has no business being to directly involved with the lives of citizens…
The States, counties and cities can and should handle it… The decrease in Federal taxes can be made up in the States.

Posted by: Quo Warranto | May 8, 2010, 1:35 am 1:35 am

Why is good news always bad news to the wingnuts? Oh thats right, they want Obama to fail, regardless of the effect on the Country.

Posted by: jim | May 8, 2010, 5:53 am 5:53 am

“Why is good news always bad news to the wingnuts?” – jim
Let me help you understand jim.
It’s because the “good news” being reported is meant to distract you from the real underlying “bad news” they don’t want to report. Consumer spending is a big part of the economy and the dog and pony show want you to be confident enough to spend. Don’t tell the people about the upcoming state spending disasters/budget shortfalls that will lead to more unemployment.
Personally, I don’t give a rat’s behind if the President fails or not, it’s not about him.
I care about our country succeeding.

Posted by: Noz | May 8, 2010, 9:43 am 9:43 am

The crisis will happen in our time…. What are you doing to prepare…?
Posted by: Quo Warranto |
I’m thinking of having a lobotomy and becoming a Progressive and leveraging my minority status and getting a unionized government job. Will that prepare me?
Posted by: Foghorn Leghorn
Sounds like a plan Foggy.
Get the government to pay for the lobotomy and you have a winner there.

Posted by: Noz | May 8, 2010, 11:29 am 11:29 am

Sounds like a plan Foggy.
Get the government to pay for the lobotomy and you have a winner there.
Posted by: Noz | May 8, 2010 11:29:47 AM
As if you don’t see the scar… and the results.

Posted by: progressive mama | May 8, 2010, 11:45 am 11:45 am

If you’re going to talk serious spending cuts you’ve basically got the entitlements and the military. When the Democrats proposed eliminating wasteful spending associated with the healthcare bill Republicans broadcast to the elderly that the socialist Democrats were cutting their Medicare. Whenever Democrats want to cut military spending the Republicans call them soft on defense. When the Republicans are in control they pretty much don’t do anything about anything at all besides trying to cut regulations and taxes [except last time they got us into a very expensive war]. I’d say next time the Democrats decide they want to cut something the Republicans better play ball.
Posted by: Skip | May 8, 2010 1:18:48 AM
Agreed.
Meanwhile, the AP’s H. JOSEF HEBERT and ERICA WERNER have taken a closer look at the Obama admin’s response to the Gulf Oil spill (Obama oil response: aggressive as crisis unfolded) and another right wing meme bites the dust for anyone with an iota of intellectual honesty. And Chris Goode has a post up at the Atlantic Monthly called “Sabotage! Conspiracty! And other Ways to Spin the Oil Spill.
Goode writes: “There are shades of politicization, shades of grandstanding. Not everything is an attempt to gain political advantage from an oil spill. It is right that policymakers–and, yes, advocacy organizations–should try to assess what this oil spill means for U.S. energy policy, and whether we should change how we approach offshore drilling in light of the disaster.
But the responses show that everyone sees something different in the spill–and, often, politicians and groups have interpreted it to back up positions they already held, long before the rig exploded and we all realized just how significant the catastrophe was going to be.”
Same with the job numbers, the economy, the deficit. As Ryan C points out in his posts at May 8, 2010 12:28:35 AM
and 12:23:50 AM
” 290,000 jobs were added, more people are seeking work.
The economy is improving.
And the right wing who wanted to watch the country burn is furious.
… The end times fantasy is bizarre.”
Not that being bizarro puts a sock in it for some.

Posted by: progressive mama | May 8, 2010, 12:03 pm 12:03 pm

Nine point nine percent unemployment. up .7% and climbing..The only thing the American voter should ask themselves is ” Are you better off than you were under the last administration?” If so, stay with the current administration, if not, vote them out….Thus far, over 50% are voting them out…may change, but my business degree says not a chance…..Look for interest rates too increase; as well as inflation..government courtesy of Obama and Co. has created competition for precious dollars………….

Posted by: Parallex View | May 9, 2010, 12:07 am 12:07 am

Posted by: vox064 | May 9, 2010 8:09:52 AM
Don’t read my posts.
Its really that simple.

Posted by: progressive mama | May 9, 2010, 9:03 am 9:03 am

Interesting site, I will have to check out some of your other posts.

Posted by: Asa Votolato | November 11, 2011, 10:40 am 10:40 am

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