Throw Grandma From the Train
President Obama at the GOP House retreat, January 2010:
“We're not going to be able to do anything about any of these entitlements if what we do is characterize whatever proposals are put out there as, ‘Well, you know, that's — the other party's being irresponsible. The other party is trying to hurt our senior citizens. That the other party is doing X, Y, Z.”
President Obama today:
“One vision has been championed by Republicans in the House of Representatives and embraced by several of their party’s presidential candidates…This is a vision that says up to 50 million Americans have to lose their health insurance in order for us to reduce the deficit. And who are those 50 million Americans? Many are someone’s grandparents who wouldn’t be able afford nursing home care without Medicaid. Many are poor children. Some are middle-class families who have children with autism or Down’s syndrome. Some are kids with disabilities so severe that they require 24-hour care. These are the Americans we’d be telling to fend for themselves.”
-Jake Tapper
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What on earth is Obama talking about? We were ensured that Obamacare will take care of all these situations. Or did Obama lie about that too?
Posted by: Chuck | April 13, 2011, 3:30 pm 3:30 pm
love the title Jake. I hope ppl’s eyes are opened up to what’s really going on here.
Posted by: Dianne93101 | April 13, 2011, 3:31 pm 3:31 pm
You expected consistency from Obama? The Demagogue in Chief.
LOL
Posted by: Bill | April 13, 2011, 3:32 pm 3:32 pm
You will NOT see this tonight from Diane Sawyer… Media is already sticking its head in the sand to protect this Class Warfare Stooge
Posted by: I made a mistake voting not to raise the debt ceiling | April 13, 2011, 3:40 pm 3:40 pm
Dianne, Republicans filibustered and gutted most of obama care.
Posted by: Paul03 | April 13, 2011, 3:40 pm 3:40 pm
Tapper,
When Gibbs and Carney respond to your questions, take note that Obama taught them to respond how they do.
Obama’s “plans” are not serious attempts to fix our problems. They are about creating “satisfying” rhetoric.
The only way to extract an honest answers from these glib politicians is to go on the offensive, and to show the public that the rhetoric is manipulative.
Posted by: Mike, CO | April 13, 2011, 3:45 pm 3:45 pm
I don’t understand. You would rather that Obama ignore what the Republican plan proposes for Medicare and the Republican plan to eliminate the Affordable Care Act? What exactly did Obama say that is a mischaracterization of Republican proposals?
The Republicans have introduced a bill to repeal AHA. The Republicans have released a plan that replaces Medicare with vouchers. Aren’t you, as a “reporter,” supposed to know these things?
Posted by: TheOtherJim | April 13, 2011, 3:45 pm 3:45 pm
Jake – thanks for the confirmation of my suspicions. Also interesting to note all the things POTUS took off the table as soon as he said everything was on the table.
If my count is right, he’s punted three parts of his four part “plan” to “review panels” – Healthcare, Military, and Taxation. He has boldly stepped up and comitted to forming THREE panels to completely divorce him from the politically unpopular suggestions they’ll come up with as he hits the campaign trail.
Whee!
Tell me what leadership looks like?
This is what leadership looks like!
Posted by: N2vip | April 13, 2011, 3:51 pm 3:51 pm
from zero hedge
Warning: people on blood pressure medication are urged not to read this.
Yesterday the media had a field day when it was uncovered that the hard fought $38 billion in budget “cuts” which almost caused America to shut down were in reality $14 billion. We, thus, can’t wait to find out what the response will be when it is uncovered that the actual cuts were… $353 million. Yes: the ongoing functioning of the government was a pawn in a soap opera whose benefit to the US debt is $353 million, or about what Goldman’s trading desk makes in less than one day.
From Washington Post:
A new budget estimate released Wednesday says that the spending bill negotiated between President Barack Obama and House Speaker John Boehner would produce less than 1 percent of the $38 billion in claimed savings by the end of this budget year.
The Congressional Budget Office estimate shows that the spending bill due for a House vote Thursday would pare just $352 million from the deficit through Sept. 30. About $8 billion in cuts to domestic programs and foreign aid are offset by nearly equal increases in defense spending.
The House began debate on the measure Wednesday with a test vote slated for the early afternoon. The measure appears on track to pass the House and Senate this week before a stopgap spending measure expires Friday at midnight despite opposition from some of the GOP’s most ardent budget cutters.
…
Republicans say they wish the measure would cut more but that the cuts negotiated by Boehner are about as good as can be expected giver that Democrats hold the Senate and the White House. In his February budget, Obama pressed a freeze on domestic agency accounts.
“We continue to push this president to places he never said he would go,” said House GOP Whip Kevin McCarthy of California. “The president said he would freeze spending. Our Speaker negotiated, outnumbered 3-1. We have cut spending.”
Speechless yet? You should be. And for those confused how B.H.O. picked the arbitrary number of $4 trillion in “cuts”, John Lohman summarizes it best.
How Washington Cuts $38 Billion in 5 Simple Steps:
1. Announce spending bill that claims $38 billion in cuts
2. Wait for CBO to announce it only cuts $353 million1
3. Realize you only do 0.0093% of what you say2
4. Divide $38 billion by 0.0093% to get necessary target3
5. Round to the nearest trillion and announce result
1 : Source: Washington Post, April 13, 2011
2 : $353 million divided by $38 billion
3 : $38 billion divided by 0.0093 = 4.1 trillion
Posted by: pauldia | April 13, 2011, 3:54 pm 3:54 pm
constitution, article 2
no one but a “natural born Citizen”
contemplate that meaning born on US soil and of 2 PARENT CITIZENS.
1st father British subject
2nd father adopted him was Indonesian citizen
that makes him a DUAL citizen at best case scenario
Posted by: dad | April 13, 2011, 4:03 pm 4:03 pm
What on earth is Obama talking about? We were ensured that Obamacare will take care of all these situations. Or did Obama lie about that too?
POSTED BY: CHUCK | APR 13, 2011 3:30:53 PM
Get this Chuck…
A new AP/Gfk Poll shows the LOWEST approval of Obama’s healthcare overhaul since it was even thought about. Only 35% now approve of it, 45% do not, 17% unsure. This poll also showed a majority of SENIORS rejecting it, too. Looks like Obama’s wheels are coming off the wagon. AAAWWWW….
Posted by: Shoe | April 13, 2011, 4:23 pm 4:23 pm
City Councilman Kevin Fogerty: Kevin Fogarty, City Council. I hope I have your vote on election day.
Dr. Frasier Crane: And why exactly should I vote for you, Mr. Fogarty?
City Councilman Kevin Fogerty: Well, because I’m a hard worker, and I take a stand.
Dr. Frasier Crane: On what, exactly?
City Councilman Kevin Fogerty: The issues of the day.
Dr. Frasier Crane: Which are?
City Councilman Kevin Fogerty: The things that concern you and your family… the most.
Posted by: Steve | April 13, 2011, 4:28 pm 4:28 pm
This President not only does not speak the truth, but I don’t think he has a clue about what truth is. His post-modern intellectual avoid-reality-at-all-cost pretend thinking is starting to whack him with a clue bat. So he doubles his attacks on his designated enemies instead — the Republicans being the most evil ones of all. Moral relativism, it seems, stops at the Republican doorstep.
Posted by: Michael Babbitt | April 13, 2011, 4:31 pm 4:31 pm
Same old crap. Odumbo is not making sense. Throw the old people under the bus, that is what he has been talking about for 2 years. Every senior citizen shouldn’t pay their taxes and see how much we could save our money. WE ARE BROKE and THE MONEY HAS RAN OUT.
Posted by: Dee Ann Goodson | April 13, 2011, 4:38 pm 4:38 pm
Will this make the evening news broadcast to show Obama as the liar that he is? NOPE, it will be covered up. A few internet stories, but never any real exposure of obama’s lies on the news broadcast.
Posted by: Dan | April 13, 2011, 4:39 pm 4:39 pm
and this suprises you why?
Posted by: whatsgoingonhere? | April 13, 2011, 4:41 pm 4:41 pm
“He has boldly stepped up and comitted to forming THREE panels to completely divorce him from the politically unpopular suggestions they’ll come up with as he hits the campaign trail.” – N2VIP
I thought he already had a panel tell him what should be done about cutting the spending and bring the bloated budget in line.
Oh Well.
Maybe this President doesn’t listen very well.
Posted by: Noz | April 13, 2011, 4:43 pm 4:43 pm
What it all boils down to is that Obamacare is truly a farce.Look at how it was thrown together… or the failed effort to do effort to finance it. Check details, especially the Nebraska farce. It broke my heart to see our elected officials act in such a way. I love my USA!
Posted by: MichaelH | April 13, 2011, 4:44 pm 4:44 pm
Obama on Grandmother – June 2009
Obama said during the ABC Special on Wednesday night that a way to save healthcare costs is to abandon the sort of care that “evidence shows is not necessarily going to improve” the patient’s health. He went on to say that he had personal familiarity with such a situation when his grandmother broke her hip after she was diagnosed with terminal cancer.
Obama offered a question on the efficacy of further care for his grandmother saying, “and the question was, does she get hip replacement surgery, even though she was fragile enough they were not sure how long she would last?”
Posted by: wheresmymoney | April 13, 2011, 4:50 pm 4:50 pm
I thought he already had a panel tell him what should be done about cutting the spending and bring the bloated budget in line.
Posted by: Noz | Apr 13, 2011 4:43:53 PM
He didn’t like what that panel said. He will try another. Mulligan time, AGAIN.
Posted by: wheresmymoney | April 13, 2011, 4:51 pm 4:51 pm
“Republicans filibustered and gutted most of obama care.”
That’s really interesting since it passed when the Democrats had a filibuster proof majority.
Posted by: Darury | April 13, 2011, 4:56 pm 4:56 pm
While I appreciate ABC’s work in showing Obama’s hypocrisy. This SHOULD BE a news story, not a blog post.
Posted by: David Longstreth | April 13, 2011, 4:57 pm 4:57 pm
DUH!!! Hes been doing this consistently!
Posted by: shawn | April 13, 2011, 5:16 pm 5:16 pm
“Some are middle-class families who have children with autism or Down’s syndrome. Some are kids with disabilities so severe that they require 24-hour care.”
Are these the same kids on which Obamacare levies new taxes for their treatments and medical devices?
Posted by: blindisde | April 13, 2011, 5:17 pm 5:17 pm
Everything that comes out of Obama’s mouth is a lie. If his lips are moving he is lying.
Posted by: Marie | April 13, 2011, 5:27 pm 5:27 pm
Throw Grandma from the train, throw Rev Wright under the bus and the GOP in the back of the bus! It goes on and on….
Posted by: shawn | April 13, 2011, 5:29 pm 5:29 pm
Rep. Joe Wilson summed it up best at President Gardener’s 1st SOTU teleprompter reading:
Rep. Wilson: You. Lie!
and so it is with the stupidest man ever elected president.
Posted by: Nick Danger | April 13, 2011, 5:39 pm 5:39 pm
This is just Jake trying to be cute again.
If you look at what precipitated Obama’s comment at the retreat, it was Ryan saying this:
OBAMA: “Paul’s approach…would say we’re going to provide vouchers of some sort for current Medicare recipients at the current level –”
RYAN: “No… ‘And the premise of our idea is, look, why not give people the same kind of health care plan we here have in Congress? That’s the kind of reform we’re proposing for Medicare.”
The fact that Ryan was lying about his proposal, and the fact that it is not in any way a serious proposal, deserves some discussion.
Posted by: Flash Override | April 13, 2011, 5:59 pm 5:59 pm
Those families with Downs or autism USED to be able to use their HSA to pay for their educational needs. Obama slashed the $$ amount allowed. Throw Grandma indeed.
Posted by: sybilll | April 13, 2011, 5:59 pm 5:59 pm
Wow, Jake, great catch! Now, was what he said in the speech accurate?
I was hoping that this stupid “gotcha” crap had died with Tim Russert. No such luck, huh?
Posted by: Ian | April 13, 2011, 6:41 pm 6:41 pm
So Barry is talking out of both sides of his mouth again.
What else is new?
More Kool Aid, Obamabots?
Posted by: GarandFan | April 13, 2011, 6:48 pm 6:48 pm
You’ve been doing some yeoman’s work, there, Jake. Thanks for the effort to keep perspective in the mix. It’s much appreciated.
Posted by: tree hugging sister | April 13, 2011, 7:19 pm 7:19 pm
If Obots weren’t stupid they wouldn’t be democrats.
Posted by: Jeremy | April 13, 2011, 7:36 pm 7:36 pm
This is what happens when you have more than one speech writer feeding your teleprompters, Barry. You (they) forget what you said yesterday.
Posted by: ratskeller | April 13, 2011, 7:54 pm 7:54 pm
will no one ever learn? Obama is a race-baiting, hypocritical, lying, intellectually dishonest, double-minded, lefty redistributionist.. he will always say one thing and do another, talking out of each side of his mouth and every other orifice.
Posted by: commontruths | April 13, 2011, 8:01 pm 8:01 pm
You mean Obama’s a lying hypocrite? Who woulda guessed?
Posted by: John | April 13, 2011, 8:06 pm 8:06 pm
“TheOtherJim”
Obviously you’re only regugitating the rhetoric and haven’t actually read what the Repubs plan is. Granny will not be thrown out into the street. Ryan is proposing that people above a certain age stay in Medicaid and younger people will start getting vouchers and keeping more of their own money to buy real health care of their own choosing. But don’t hurt yourself and actually, you know, do any reasearch.
Posted by: John | April 13, 2011, 8:10 pm 8:10 pm
Thanks 52% Our kids will have NOTHING thanks to this rage-filled commie. I told my kids that they’ll be lucky to keep $10 out of every $100 they make.
The fact that he got elected is a sad commentary on how badly America has been dumbed down.
Hey, ABC (CBS, NBC, NPR, MSNBC, CNN), are Soros’s checks always on time? That includes you, too, Jake. It’s hard to believe how so-called “journalists” threw it all away to become stenographers.
Posted by: seezclearly | April 13, 2011, 8:11 pm 8:11 pm
Paul03, obamacare was passed when demorats had complete control of congress, The GOP had no say in this at all, one way or the other. What was in ObamaCare and not in ObamaCare was 100% demorat.
Posted by: EconRob | April 13, 2011, 8:33 pm 8:33 pm
Have we ever had a President with less compunction about outright lying to the American people? This may even outrank the finger wag of Clinton. At least Clinton was trying to defend himself instead of make cheap political points. Obama is an idiot and all those who believe him are idiots.
Posted by: JWnTX | April 13, 2011, 8:38 pm 8:38 pm
This is because our President is not American – and I don’t mean citizenship – I mean his temperament and leadership qualities. His politics verge on marxist, fascist, and socialist. He cannot move anything forward politically without resorting to demonization, fear-mongering, and outright lying… yknow, the usual marxist class tripe. He simply is unfit to lead a great nation of free individuals.
Posted by: jrobinson | April 13, 2011, 8:41 pm 8:41 pm
The fact that he got elected is a sad commentary on how badly America has been dumbed down
======================
The really funny part about these allegations is those who make them then commonly go on to offer idiots like Sarah Palin and Michele Bachmann as serious alternatives.
Posted by: Skip | April 13, 2011, 8:46 pm 8:46 pm
obamacare was passed when demorats had complete control of congress
====================
No, it passed after they had lost the supermajority.
Posted by: Skip | April 13, 2011, 8:49 pm 8:49 pm
Well you know–or at least you say–that Sarah Palin and Michelle Bachman are idiots. Have you considered that Barack is a moron? It’s an equally valid statement and observation.
Posted by: Mike Myers | April 13, 2011, 8:50 pm 8:50 pm
Have we ever had a President with less compunction about outright lying to the American people?
===================
Yes for sure….George Bush is a fine example.
Posted by: Skip | April 13, 2011, 8:51 pm 8:51 pm
Why do these comments run backwards?
Posted by: Bradley | April 13, 2011, 8:54 pm 8:54 pm
Skip, ObamaCare was passed when the democRATS had the majority. I’m not clear whether it was the supermajority at the time – although I believe it was – I assume that you know the difference, and are aware it doesn’t matter. His bill, they passed it. Obama lost significant blue votes over this, and couldn’t strip the usual Rhinos away to aid him. (Which should really tell you how extreme that bill was.)
Posted by: jrobinson | April 13, 2011, 8:54 pm 8:54 pm
Skip, George Bush didn’t lie nearly as much as CFAP, Media Matters, or Soros told you he did. Obama has lied more in this one speech than Bush’s entire political career. There is barely anything factual behind any of it. The math is more than fuzzy, its downright shady. And the tone was more demagogic than anything I’ve ever heard uttered from an American President. If Bush had ever made a speech like this, he would’ve lost my support instantly. There is simply no excuse for any of that.
Posted by: jrobinson | April 13, 2011, 9:00 pm 9:00 pm
He cannot move anything forward politically without resorting to demonization, fear-mongering, and outright lying
=========================
You mean like claiming Americans who disagree with you aren’t really American, they are going to destroy America instead, and those who know what America really is are promoting freedom by forcing their ideas of what America really is on others? Sounds like it’s right out of the right-wing playbook to me.
Posted by: Skip | April 13, 2011, 9:03 pm 9:03 pm
“You mean like claiming Americans who disagree with you aren’t really American, they are going to destroy America instead . . . ”
- – - – -
I can’t speak to the “not real American” part, but if you add up the numbers and subtract BO’s lies, he’s well on his way to destroying America, if by “destroying America” you can include leading America into a long, painful period of no liquidity, limited jobs, rising cost of living, exorbitant and crippling energy prices, unpredictable, corrupt, and unreviewable power grabs in place of Rule Of Law, loss of empowerment in world affairs with its attendant heightened threats to our economy, our territory, and our physical safety . . .
And, no, sorry, George W Bush never, in his eight years, approached the breathtaking dishonesty of the BO presidency and administration.
Posted by: bobby b | April 13, 2011, 9:17 pm 9:17 pm
you can include leading America into a long, painful period of no liquidity, limited jobs, rising cost of living, exorbitant and crippling energy prices
========================
We believe he has a much better chance of leading us OUT of all this than the Republicans do.
Posted by: Skip | April 13, 2011, 9:30 pm 9:30 pm
I was talking to Grandma and I asked her if she heard The President’s observations. She told me never mind dear,I looked and saw Biden sleeping then I went to sleep too. Biden and me heard that before.
Posted by: MFB | April 13, 2011, 9:30 pm 9:30 pm
You mean like claiming Americans who disagree with you aren’t really American, they are going to destroy America instead, and those who know what America really is are promoting freedom by forcing their ideas of what America really is on others?
============
Don’t you get it, skip? None of that is true. That’s not what Bush did, it’s what you Lefties kept telling us he was doing… you just haven’t realized the difference. What, exactly did he say that you needed to agree with him about or you were un-American?
Today, I heard that entitlements were as American as apple pie and Paul Ryan was going to kill my grandmother.
Posted by: jrobinson | April 13, 2011, 9:32 pm 9:32 pm
And, no, sorry, George W Bush never, in his eight years, approached the breathtaking dishonesty of the BO presidency and administration
=====================
Opinion…nothing more, and most American don’t agree. Bush’s approval numbers were in the tank by the time he left office while[according to Gallup] most Americans rate Obama’s honesty favorably.
Posted by: Skip | April 13, 2011, 9:34 pm 9:34 pm
Sure are a lot of paid shills in this thread.
I love it when poor people defend millionaires of any kind who couldn’t care less.
Nice job creation for 10+ years of tax cuts!
Posted by: IGetPaidToDoThis | April 13, 2011, 9:36 pm 9:36 pm
We believe he has a much better chance of leading us OUT of all this than the Republicans do.
==========
And this, Skip, is why you’re a tool. When the internet bubble burst in 2000, Bush inherited an economy that was already the worst since the Great Depression. He cut taxes, people got back to work. With 3 years, we were back to 5.9%. DemocRATS take control in 2007, quadruple the debt, and try every Kensyian trick up their sleeve to make it work, and now we’re staring at an even greater depression. The reason Obama can’t fix it, is because Obama don’t know how. He ain’t got the tools. He can’t find his socialist broom anywhere. All he’s got is a teleprompter.
Posted by: jrobinson | April 13, 2011, 9:37 pm 9:37 pm
Obama is a staggering con man. Nothing more. 2012 can’t come soon enough to rid ourselves of this buffoon and his merry band of “social justice” Democrats.
Posted by: Moni | April 13, 2011, 9:39 pm 9:39 pm
PS: the only shill here is the one called, igetpaidtodothis. shhhhh!
Posted by: jrobinson | April 13, 2011, 9:41 pm 9:41 pm
I think I and many other Americans are discerning enough not to trust those who apparently don’t believe in their own policies enough that they feel they need to revise history to cover for their failings. The same old stale recipe of tax cuts and deregulation are largely responsible for creating our problems and we have absolutely no reason to believe the Republicans can offer anything else instead.
Posted by: Skip | April 13, 2011, 9:51 pm 9:51 pm
not to trust those who apparently don’t believe in their own policies enough that they feel they need to revise history to cover for their failings. The same old stale recipe of tax cuts and deregulation are largely responsible for creating our problems[..]
========
Exactly, Skip, exactly. First you admonish me for revising history, then you revise it for me. Thank you.
Posted by: jrobinson | April 13, 2011, 9:59 pm 9:59 pm
Obama votes “present.” Again.
On the day Obama was inaugurated, the national debt stood at $10.626 trillion. Currently the debt is about $14.275 trillion. Obama is now proposing to cut deficits by $4 Trillion over 12 years.
So in other words, he’s proposing to reduce deficits over the course of the next 12 years by the same amount by which the debt rose in the first two years of his presidency, including his failed $800 stimulus boondoggle.
So when is Obama actually going to lead and deliver a plan for reducing out-of-control spending and the deficit?
Present…. Until 2012.
Posted by: Moni | April 13, 2011, 10:17 pm 10:17 pm
If so why were the Republicans claiming during the 2008 election that the economy was strong right up to the banking collapse? They blame the Democrats now of course. So they wanted to take credit when they thought things were good but transfer blame when they turn out to be wrong. I’m confident Americans will be able to tell who is attempting to rewrite history.
Posted by: Skip | April 13, 2011, 10:20 pm 10:20 pm
On the day Obama was inaugurated, the national debt stood at $10.626 trillion. Currently the debt is about $14.275 trillion. Obama is now proposing to cut deficits by $4 Trillion over 12 years
=================
Again blatantly ignoring that much of the debt incurred in Obama’s first years was the result of financial obligations because of prior Republican policies which could not simply be ignored by the following administration.
Posted by: Skip | April 13, 2011, 10:25 pm 10:25 pm
Again blatantly ignoring that much of the debt incurred in Obama’s first years was the result of financial obligations because of prior Republican policies which could not simply be ignored by the following administration.
=================
You can see that Skip drinks a lot of kool aid. Most of the items that were spent for are pet projects by the democrats to the tune of Rahm Emanuel’s “Don’t let a crisis go to waste.” They bailed out the banks, GM, Fannie Mae and Freddie Mac and pushed through Health Care without reading the bill. And again today he blames Bush……….shameful!
Posted by: NewsNinja2011 | April 13, 2011, 10:33 pm 10:33 pm
“Madness is rare in individuals – but in groups, parties, nations, and ages it is the rule.” — Nietzsche
Deficit spending as a matter of planned economic policy only began in the Kennedy administration. Before then, we engaged in it only in wartime. Over the past fifty years it’s become the madness of the age, and it will collapse the economy just as surely as mismanaged debt collapsed the French economy in the 1780s, with similar disastrous results for ordinary men and women. The free ride for teachers, public employees (who enjoy UNBELIEVABLY generous compensation compared to the private sector at comparable skill levels), NPR, PBS and Planned Parenthood is coming to an end, either through sane legislation enacted to calibrate the end of the ride as painlessly as possible, or, less sanely, by allowing the immutable and implacable laws of cause and effect to operate, in which case a sudden collapse will leave the national economic landscape strewn with rubble.
Posted by: TomB | April 13, 2011, 10:46 pm 10:46 pm
If so why were the Republicans claiming during the 2008 election that the economy was strong right up to the banking collapse? ”
The economy WAS strong, until the Democrats took control of Congress in 2007, doubled the deficit, startied passing job-killing regs, refused to drill as oil soared, engaged in talk that caused banks to collapse and mismanaged us into worse fiscal crisis.
Democrat policies kill jobs, hurt our prosperity and cause recessions.
Obama’s speech proves he is a leftwgin lunatic who will do NOTHING to avert the financial collapse of the USA. It is imperative that he be removed in 2012. We have no other choice if we want to save USA.
Posted by: Patrick | April 13, 2011, 11:01 pm 11:01 pm
This man is a fraud.
Posted by: Hero | April 13, 2011, 11:01 pm 11:01 pm
This right-wing attempt to blame trillions of dollars in debt on teachers, public employees, and public broadcasting is comical.
Posted by: Skip | April 13, 2011, 11:04 pm 11:04 pm
“Again blatantly ignoring that much of the debt incurred in Obama’s first years was the result of …”
Democrats passing massive over-spending bills, that increased spending by 40% in just 4 years!!!
We went from $2.5 trillion to $3.7 trillion… that’s a massive increase and we need to stop it right now.
“financial obligations because of prior Republican policies”
- a lie – there was no ‘obligation’ to throw billions in wasteful stimulus money out the door, or massively increase govt spending, or pass a govt take over of healthcare.
Posted by: Patrick | April 13, 2011, 11:06 pm 11:06 pm
The economy WAS strong, until the Democrats took control of Congress in 2007, doubled the deficit, startied passing job-killing regs, refused to drill as oil soared, engaged in talk that caused banks to collapse and mismanaged us into worse fiscal crisis.
Democrat policies kill jobs, hurt our prosperity and cause recessions
====================
Why on Earth didn’t Bush do anything to stop them? How many vetoes did they manage to overcome? Remember this congress was derided as “do nothing”. Historical revision is easily detectable.
Posted by: Skip | April 13, 2011, 11:09 pm 11:09 pm
PolitiFact rates the statement:
“…the economy began its nose dive when Democrats took control of Congress in January 2007. For 54 months before that, with a Republican president and Republican control of Congress, the economy was doing very well and growing.”
-as a Pants on Fire lie. They continue:
“The evidence shows that the economy did not “nose dive” for at least a year after the Democrats took control of Congress, and experts of various ideological backgrounds agree that long-term trends in the housing and energy markets played a bigger role in directly causing the recession. While what happens in Washington can certainly influence the economy, it is only one of many factors. We believe it is the height of partisan wishful thinking to imply that one party’s accession to power in Congress is to blame for a major recession.”
Posted by: Skip | April 13, 2011, 11:19 pm 11:19 pm
“financial obligations because of prior Republican policies”
- a lie -
===================
I guess you think PolitiFact lies too then:
“As much as Republicans like to blame Obama and the Democratic Congress for the boom in federal spending, a sizable chunk of current spending was set on its course because of actions taken under President George W. Bush and the Republican Congress (such as the Medicare prescription drug benefit). This doesn’t mean Obama and the Democratic Congress bear no responsibility for the rise in spending. They just don’t deserve all the blame.”
Posted by: Skip | April 13, 2011, 11:46 pm 11:46 pm
Why on Earth didn’t Bush do anything to stop them? How many vetoes did they manage to overcome? Remember this congress was derided as “do nothing”. Historical revision is easily detectable.
====
If Bush declined to veto legislation, wasn’t that a sign of his bipartisanship?
A Democratic congress in the last 2 years of the Bush administration is a revision of history? You would have liked it to be a Republican congress instead?
Posted by: Mike, CO | April 13, 2011, 11:47 pm 11:47 pm
of course it didn’t nose dive exactly when the democRATS took over in 2007, don’t be a child. It takes a bit of time for policies and spending increases and new budget items to affect an economy this size. Starting with the first bailout Bush signed – you know, the Pelosi Reid Clinton Obama bill – it took about 12-16 months for the full effects to settle in. Ever since then, this country has been in straight Kensyian mode – massive money printing, aka quantitative easing. It didn’t work in the first Great Depression, and it ain’t gonna work in the second. And Progressives at the helm both times, go figure. Blaming Bush for this economy is silly; his worst offense is signing Pelosi’s bill. We’re almost 4 years into Obamanomics and – wake up – it isn’t getting any better.
Posted by: jrobinson | April 13, 2011, 11:52 pm 11:52 pm
This right-wing attempt to blame trillions of dollars in debt on teachers, public employees, and public broadcasting is comical.
====
SKIP, if you want to search for blame, why don’t you add some of the most detestable things congress has done?
For example, the GSEs, Fannie and Freddie, are now backstopped by the federal government. What does that mean?
Well, it means that the government is on the hook for all losses from Fannie and Freddie. The potential losses from these companies, who own the majority of US mortgages, is not on the official figures for US debt.
So what will this decision cost us? Who knows. But it will cost us a heck of a lot more than public employees once the losses are realized.
The big fish are more important than the small fish. We need to worry about all the fish right now, but don’t think we can start to take things off the table when things are already out of control.
The fact that Obama speaks in soothing tones isn’t going to change reality, and your insistence that tough decisions are really tax decisions is simplistic.
Posted by: Mike, CO | April 13, 2011, 11:58 pm 11:58 pm
What I love about these arguments I seem to having lately is that they are all arguing against reality. They scream, they wine, they want, they need, oh what about the victims, the poor teachers blah blah blah… and all I have to do is point to the checkbook with the negative balance and shrug. It’s just math, Skip, that’s all. Go on and keep spending. Nothing to see here. Zero, dude, is like, just a number.
Posted by: jrobinson | April 14, 2011, 12:11 am 12:11 am
For example, the GSEs
====================
Of course the GSEs were hard hit, they were the largest players in real estate when the housing bubble burst. The GSEs were a good idea and successfully freed up money for loans for potential homeowners. If they hadn’t succumbed to shareholder pressure and lowered their lending standards to keep from losing more market share to the runaway private sector they might not be as bad off now.
Posted by: Skip | April 14, 2011, 12:13 am 12:13 am
If they [GSEs] hadn’t succumbed to shareholder pressure and lowered their lending standards to keep from losing more market share to the runaway private sector they might not be as bad off now.
====
You must have missed Barney Frank’s greatest hits montage.
I do not think the GSEs are the fault of Democrats exclusively, but they are one of those rotten examples of how good intentions go very bad.
The GSEs are what saved the big banks that were bailed out by TARP.
If the banks were not able to unload their toxic mortgages onto the GSEs, they would have failed, even with TARP.
This is how “we the taxpayer” agreed to bail out the banks. By transferring their debt to the taxpayer.
And then Geithner has the gall to say that TARP was profitable. The biggest ponzi/con game in history, all thanks to the Treasury and congress.
Posted by: Mike, CO | April 14, 2011, 12:21 am 12:21 am
…and all I have to do is point to the checkbook with the negative balance and shrug
———————–
That’s the same attitude most Republicans have. Luckily many Americans aren’t buying…
-According to Gallup:
“For next year’s budget, more Americans favor raising taxes on upper-income households than making additional domestic spending cuts”
Posted by: Skip | April 14, 2011, 12:21 am 12:21 am
Posted by: Skip | Apr 13, 2011 11:46:41 PM
Yes, Politifact lies, distorts, and covers for Obama. Here’s what they failed to mention:
Bush’s 2007 deficit was $161 billion.
Obama’s deficit in two years was $4 trillion.
African-American unemployment ROSE in March to 15.5%.
African-American underemployment is 25%.
Teen unemployment averages 25% (34% in California).
A record number of Americans are chronically unemployed (>99 weeks).
Our workforce is the same size it was 11 years ago.
SS, Medicare, Medicaid, and Welfare consume ALL tax receipts.
GM created new factories and most new jobs overseas.
Most green jobs created went overseas.
Poverty is at an all-time high.
Food stamp use is at an all-time high.
The poor are using Medicaid at record levels.
Gas is $4.
Food costs and healthcare costs are soaring.
Over 1,200 Obamacare waivers were granted (many at the request of 43 unions).
We’re fighting wars in Iraq, Afghanistan, Yemen, Pakistan, and Libya.
60% of all U.S. casualties in Afghanistan occurred under Obama.
There’s your Hope and Change.
Posted by: Chuck | April 14, 2011, 12:24 am 12:24 am
“For next year’s budget, more Americans favor raising taxes on upper-income households than making additional domestic spending cuts”
Posted by: Skip | Apr 14, 2011 12:21:39 AM
It’s easy for 50% of Americans to say that. They don’t pay any federal income taxes at all. Many receive credits (aka welfare). I’m sure they’d like that to continue.
Posted by: Chuck | April 14, 2011, 12:27 am 12:27 am
Well Chuck many Americans apparently don’t like the Republican plan to try and balance the budget and place the burden of deficit reduction almost exclusively on the backs of American workers, and they have every right to vote it down.
Posted by: Skip | April 14, 2011, 12:41 am 12:41 am
“The GSEs were a good idea and successfully freed up money for loans for potential homeowners. If they hadn’t succumbed to shareholder pressure and lowered their lending standards to keep from losing more market share to the runaway private sector they might not be as bad off now.”
Posted by: Skip | Apr 14, 2011 12:13:07 AM
The GSEs were a horrible idea. They were thoroughly politicized and infiltrated by Democratic Party operatives who made millions before the companies collapsed (Frank Raines, Jim Johnson, etc.). They didn’t lower lending standards due to shareholder pressure. They lowered standards due to political pressure and incentives. Jim Johnson received a huge bonus when he accumulated $1 trillion in subprime loans. To meet their targets, they basically told private sector banks that they would back risky loans. So nobody should be surprised the private sector transferred the risk to the GSEs. From their perspective, it would have been idiotic not to. The rest is history, including billions of bailout dollars from taxpayers. But at least criminals like Raines and Johnson are living well.
Posted by: Chuck | April 14, 2011, 12:48 am 12:48 am
Well Chuck many Americans apparently don’t like the Republican plan to try and balance the budget and place the burden of deficit reduction almost exclusively on the backs of American workers, and they have every right to vote it down.
====
There is no plan from Obama to balance the budget. He had another chance to propose one today, he cam up $12 trillion dollars short (on cuts of $4 trillion).
I guess there is a lot to like about Obama’s budget, if you think that deficit is equal to debt. The President did nothing to clarify that deficit reduction does nothing to pay down the debt. Deficit reduction without balancing the budget adds to the debt.
The more debt we add now, the more we have to pay in interest. However, even with tax hikes that Obama proposes, there isn’t enough to balance the budget.
So what America “doesn’t like”, doesn’t compare to what Obama is proposing. Obama is playing a cynical game where we procrastinate balancing the budget, with the pretense that we are creating and saving jobs, and keeping entitlements.
That would be nice, if it could last more than 10 years. But there is bipartisan agreement that it will not last. Most economists believe that once the debt to GDP ratio exceeds 100%, a country is headed for bankruptcy. The US debt to GDP ratio is currently 100%.
This principle has been proven in Ireland, Portugal, and Greece.
Posted by: Mike, CO | April 14, 2011, 12:58 am 12:58 am
When will Democrats be honest enough to admit that a tax on one is a tax on all?
If you raise taxes ‘on the rich’, what happens?
Prices of goods and services provided by ‘the rich’ (your doctor, your local business owner etc) go up, and who pays the increase?
That’s right. You pay their increased taxes.
Posted by: Joe White | April 14, 2011, 1:01 am 1:01 am
Posted by: Skip | Apr 14, 2011 12:41:00 AM
Unfortunately, too many Americans live in a state of perpetual denial. Many never planned for bad times. That’s one reason we have so many bankruptcies and foreclosures. It’s time to pay the piper. We either do it now when it’s less painful or later after a total economic collapse.
Instead of addressing their debt problems years ago, Greeks decided to punt and now retirees there are trying to live on only one-half to two-thirds of their original government pension checks. Don’t think it couldn’t happen here.
Posted by: Chuck | April 14, 2011, 1:03 am 1:03 am
Having a daughter that is autistic, i know that insurance does not pay for therapy, and it’s no surprise that this moron of a president is completely clueless about that. what an incompetent.
Posted by: timothy william | April 14, 2011, 1:09 am 1:09 am
Obama could tax the rich into the ground – and it still wouldn’t come close to patching our oozing hole of insolvency.
We must reform and cut back spending first. Then talk about increasing taxes as necessary.
Posted by: Parker | April 14, 2011, 1:27 am 1:27 am
Obama is a skilled community organizer.
Whipping up class and race resentment is the most important skill in a community organizer’s tool box.
That makes Obama a master craftsman – of sorts.
Posted by: Parker | April 14, 2011, 1:41 am 1:41 am
What Obama said at the retreat referred to lying and scaremongering. What Obama is doing is laying out the facts. The Republicans ARE being irresponsible. Their budget proposal WILL hurt seniors.
Posted by: giantslor | April 14, 2011, 2:26 am 2:26 am
Jake, Thank you for your report. I happen to believe you are the only fair minded reporter from any of the three major networks ABC, CBS, or NBC. I still can’t believe they gave the moderator spot to Christine Amanpour on “This Week”. They lost me as a viewer.
Posted by: Mike | April 14, 2011, 2:35 am 2:35 am
Obama is probably the first President in history who wants to destroy the country.
Why?
He thinks he can be King of the World.
His mentor, George Soros, wants a one world government, and O is his man to be the figurehead.
Look it up. The evidence is overwhelming.
We really waste time discussing things like Obama wanting to trim the deficit.
He is just trying to get more time, keeping people talking and wondering, while he goes full steam ahead with whatever Soros tells him to do.
Soros used to be stealth. He would write an article saying what the U.S. should do, and boom…next thing you knew that was the exact same thing Obama proposed and ran through the Congress.
Now Soros is all out there…well, sort of…but his visits to the WH have been noticed. Not all of them, but a few.
What was it Soros said just a month or two ago? If Obama couldn’t do what they needed him to do…there were others.
So Obama got back in line to do what Soros wants.
Could people please vote for a real President in 2012?
Posted by: Letscheck | April 14, 2011, 3:40 am 3:40 am
“For next year’s budget, more Americans favor raising taxes on upper-income households than making additional domestic spending cuts”
Posted by: Skip | Apr 14, 2011 12:21:39 AM
Awesome, lets figure out what tax rate we need on the over $250,000 crowds to remove the 1.6 trillion dollar deficit.
Figure income taxes… income, current tax rates… calculating.
Oh, and none of this namby-pamby graduated tax rate, tax all their money at the same rate. The over $250,000 crowd made 1.4 trillion last year; we need to cover 1.6 trillion so…
A 114.3% tax rate will cover it. For every dollar they make they’ll need to pay $1.13 in taxes and we’ll cover it.
So we confiscate every dollar they own, plus a bit more, and keep state taxes, sales taxes, etc… do you think they’ll keep working if they have to pay to work?
For next year’s budget, most Americans don’t understand there aren’t enough “rich” to get the problem under control.
Fixed that statement for you; you’re welcome.
Posted by: ertdfg | April 14, 2011, 4:35 am 4:35 am
“So we confiscate every dollar they own, plus a bit more, and keep state taxes, sales taxes, etc… do you think they’ll keep working if they have to pay to work?”
All this so Skip doesn’t have to work or pay taxes.
Posted by: drjohn | April 14, 2011, 7:02 am 7:02 am
“You mean like claiming Americans who disagree with you aren’t really American, they are going to destroy America instead,”
Skip, that’s exactly what Obama has done for the last four years. Now Obama is actually doing it. Obama was the one who said he was going to “fundamentally transform” the United States of America. Fundamentally, the United States of America is a democratic republic and that is what Obama intends to change.
Posted by: drjohn | April 14, 2011, 7:08 am 7:08 am
And the big crash is yet to come. Most ARM,(remember, Adjustable rate mortgage) where taken out in 2008 and mature in 2012. You haven’t seen anything yet!
Posted by: dgh | April 14, 2011, 7:08 am 7:08 am
Gas is going to $5.00 a gallon,interest rates are primed to go up,we have no coherent foreign policy and all that this mediocrity offers is scare tactics and the usual “Republicans eat children” tripe.And what is he doing today? Running off to Chicagoland for campaign dinners.Government by Brownian motion.
Posted by: Nephron | April 14, 2011, 8:32 am 8:32 am
Posted by: ertdfg | Apr 14, 2011 4:35:26 AM
Thank You so much ertdfg.
Liberals needed that wake-up call.
I doubt you’ll get a retort from Skip
Posted by: Noz | April 14, 2011, 9:03 am 9:03 am
Didn’t he also tell Republicans that they needed to be in Washington, not campaigning for President, because we face some serious issues in the next two years?
And then he begins his campaign the week of an impending shutdown.
Posted by: djaymick | April 14, 2011, 9:05 am 9:05 am
Reuters: Jobless Claims Unexpectedly Rise; Inflation Pressure Grows
“New claims for unemployment benefits unexpectedly rose last week, bouncing back above the key 400,000 level, while core producer prices clumbed faster than expected in March, government reports showed on Thursday.
Initial claims for state unemployment benefits rose 27,000 to a seasonally adjusted 412,000, the Labor Department said.
Economists polled by Reuters had forecast claims slipping to 380,000.
The prior weeks figure was revised up to 385,000 from the previously reported 382,000.”
Obama’s WINNING! Unexpectedly!
Posted by: Justin | April 14, 2011, 9:31 am 9:31 am
Wow, some post-election vetting by ABC news!
Posted by: Tim | April 14, 2011, 9:42 am 9:42 am
This country has run a deficit since 2002′s budget year. In 2003, 2004 and 2008, it averaged around 20% more than 20% more than we brought in as tax revenue. During the other Bush years, it averaged 6% to 15%. Put a different way, spending grew by 48% from 02 to 08 while tax revenue only few by 36%.
You may argue that the idea that spending during a recession is a bad thing and who knows, it may be. I tend to think things would have been a lot worse if the fiancial markets collapsed or if we failed to provide for unemployment insurance.
So far, the GOP plan has been to shift costs, not cut them. And the entire idea of decreasing tax revenue by moving any saves in spending cuts into tax cuts is just plain silly. We had a massive unpaid for tax cut in 2001 and 2003 that didn’t grow revenue all that much compared to the same period in the 1990′s where revenue grew at 4 times the rate of spending.
If the GOP was serious about our deficit, the conversations wouldn’t include planned parenthood or npr. They would be about closing loopholes that allow our largest companies to operate in the country without any tax bill. They would be about reducing our massive military budget by 10%, 15%, 25% a year. And they would be about moving the entitlement programs back into the safety net.
So far, there aren’t any grownups in the room so Jake, rather than play “gotcha politics” with sound bites, how about asking both sides to grow some balls.
Posted by: George | April 14, 2011, 9:56 am 9:56 am
Patrick, your comment really ignored the recent history of this country: ‘The economy WAS strong, until the Democrats took control of Congress in 2007, doubled the deficit, startied passing job-killing regs, refused to drill as oil soared, engaged in talk that caused banks to collapse and mismanaged us into worse fiscal crisis.’
Not one word of the above quote is true. Anyone can check for the stats for those years. The economy wasn’t strong, good-paying jobs were in decline and rising oil and gas prices were pinching the poor and middle-class hard and slowing the economy.
Drilling here doesn’t lower prices as all oil is sold on the world market to the highest bidder.
The Republicans in the 90′s weakened the banking regulations, which allowed the banking crisis to happen, don’t you remember how rated A but actually junk mortgage bonds were sold here and all over the world, causing a world-wide banking crisis when they turned out to be crap.
Bush was in charge, he could have vetoed anything the Dems passed that he didn’t approve of.
I know it is a waste of time to talk to a history/reality revisionist but please don’t think you are fooling anyone. I will never understand why people lie about easy to look up facts. If you dealt in facts you would realize the Republican party is solely looking out for big corporations, and the very wealthy, at the expense of small businesses, middle-income folks and the country’s economy in general. It is the fall of Rome all over again, if greed is allowed to rule for its selfish short term gain that sets us up for calamity.
Posted by: Lydia | April 14, 2011, 10:01 am 10:01 am
“If you dealt in facts you would realize the Republican party is solely looking out for big corporations, and the very wealthy, at the expense of small businesses, middle-income folks and the country’s economy in general.”
Posted by: Lydia | Apr 14, 2011 10:01:14 AM
Comical. Anyone who still thinks that ridiculous rhetoric after the past four years is in a state of perpetual self-denial. If YOU dealt in facts you’d know that the wealthy got wealthier under Obama and a large number of the middle class are now much poorer. As is our economy.
Posted by: Chuck | April 14, 2011, 10:46 am 10:46 am
“The [Bush] economy wasn’t strong, good-paying jobs were in decline and rising oil and gas prices were pinching the poor and middle-class hard and slowing the economy.”
Posted by: Lydia | Apr 14, 2011 10:01:14 AM
Then how do you explain my business sales doubling, my payroll expanding, and my net worth tripling during those years even though I was middle class?
Posted by: Chuck | April 14, 2011, 11:01 am 11:01 am
Chuck, there are always exceptions in any crisis, of companies that make a bigger profit. Look at Halliburton and their huge no-bid contracts during a time many companies were shutting their doors. When a lot of folks die, the funeral homes have a profitable year.
But when trying to direct national policies, the national trend is what matters. Especially if patriotism and wanting our country to be stronger in the future is the basis for decisions.
Posted by: Lydia | April 14, 2011, 11:48 am 11:48 am
The One’s greatest difficulty is that it is getting harder and harder and harder to blame Bush.
Posted by: Uh, Clem | April 14, 2011, 11:54 am 11:54 am
It is funny how Fannie and Freddie are blamed for the mortgage crisis, but there were a lot of investors buying new condos and homes, sight unseen, to ride the wave of rising home prices. Those investors, just like folks buying gold today, were driving the prices up artificially high with their greed. And many of those investors were buying with very little money down, so they could buy many properties. When the prices started falling, they tried to sell quickly which flooded the market and drove prices further down. It was just like the investors buying stocks with little or no money down right before the Great Depression, counting on a rise, to then sell for a profit. Eventually the bottom fell out of that too, because the rise in prices was artificially built up by investors, not actual demand for the products the companies made.
The greed of bankers giving bad loans made the whole mess possible. That and their ‘bundling’ of these bad loans as A rated paper they sold around the world.
Posted by: Lydia | April 14, 2011, 11:56 am 11:56 am
It is funny how Fannie and Freddie are blamed for the mortgage crisis, but there were a lot of investors buying new condos and homes, sight unseen, to ride the wave of rising home prices.
====
The democrats just awarded these speculators with the biggest bailout known to mankind. Democrats voted for it, and that is a matter of the record.
====
Those investors, just like folks buying gold today, were driving the prices up artificially high with their greed.
====
Currently, the Fed has flooded the world with free money. That money is used for speculation. If he increased interest rates, then the speculation would decrease. Petition the Fed to stop his zero interest rate policy.
====
And many of those investors were buying with very little money down, so they could buy many properties. When the prices started falling, they tried to sell quickly which flooded the market and drove prices further down.
====
If the prices go down, it makes things more affordable. Note that it is the current policy of Democrats to increase home prices. Why? Because if they don’t increase home prices, all the mortgages owned by Fannie and Freddie are underwater. And then the US taxpayer, yes, the US taxpayer is responsible for covering those losses.
====
It was just like the investors buying stocks with little or no money down right before the Great Depression, counting on a rise, to then sell for a profit. Eventually the bottom fell out of that too, because the rise in prices was artificially built up by investors, not actual demand for the products the companies made.
The greed of bankers giving bad loans made the whole mess possible. That and their ‘bundling’ of these bad loans as A rated paper they sold around the world.
====
The greed of bankers is unabated as long as they are not allowed to fail. TARP prevented their failure, which artifically kept home prices high, allowed them to transfer their bad debt to the US taxpayer, and caused gas prices to rise 100% due to zero interest rate policy.
Even worse, we pay the banks interest on the US Treasuries they own.
You have really confused who the enablers are. The enablers for this chicanery and fraud are the Democrats. They voted for TARP, they voted for greed, they vote to underwrite the losses of greedy banks.
Don’t make the mistake of voting for them again.
Posted by: Mike, CO | April 14, 2011, 12:16 pm 12:16 pm
“But when trying to direct national policies, the national trend is what matters. Especially if patriotism and wanting our country to be stronger in the future is the basis for decisions.”
Posted by: Lydia | Apr 14, 2011 11:48:42 AM
I agree. Which of the following national trends do you find are indicative of a stronger country driven by Obama’s national policies?
Obama’s deficit in two years was $4 trillion.
African-American unemployment ROSE in March to 15.5%.
African-American underemployment is 25%.
Teen unemployment averages 25% (34% in California).
A record number of Americans are chronically unemployed (>99 weeks).
Our workforce is the same size it was 11 years ago.
SS, Medicare, Medicaid, and Welfare consume ALL tax receipts.
GM created new factories and most new jobs overseas.
Most green jobs created went overseas.
Poverty is at an all-time high.
Food stamp use is at an all-time high.
The poor are using Medicaid at record levels.
Gas is $4.
Food costs and healthcare costs are soaring.
Over 1,200 Obamacare waivers were granted (many at the request of 43 unions).
We’re fighting wars in Iraq, Afghanistan, Yemen, Pakistan, and Libya.
60% of all U.S. casualties in Afghanistan occurred under Obama.
Posted by: Chuck | April 14, 2011, 12:31 pm 12:31 pm
Again blatantly ignoring that much of the debt incurred in Obama’s first years was the result of financial obligations because of prior Republican policies which could not simply be ignored by the following administration.
Posted by: Skip | Apr 13, 2011 10:25:45 PM
You’re Blatantly ignoring the fact that the Dems had control of the House and Senate since 2007, when the debt began climbing at an alarming rate. Bush was a lame duck President for the last 2 years. It was the Dems that were spending.
Posted by: wheresmymoney | April 14, 2011, 2:57 pm 2:57 pm
Chuck, your long list of what is wrong are all due to the economic downturn, not current administration policies.
And that downturn was caused by 4 policy changes by previous administrations: the Repubs in the 90′s weakening banking regs, bad trade agreements which lost us jobs, encouraging outsourcing of jobs with tax breaks and lifting of tariffs,& Bush’s tax breaks for the wealthy.
This administration has pushed through strong banking regs, Dems tried to end the tax breaks for out-sourcing but Repubs blocked it from coming to a vote and the Repubs are against ending the tax cuts for the wealthy. I don’t think anyone is talking about reworking trade agreements.
Even if all 4 of these things were fixed tomorrow, it doesn’t change the fact that a tremendous amount of money was lost by a lot of people, so they have less to spend. Some folks lost half their savings.
The best thing we can all do, besides pestering our representatives for some protective tariffs, ending tax breaks for out-sourcing and ending tax breaks for the wealthy, as well as closing the loopholes for corporations, is to buy American-made goods and food.
Companies will hire more if their products are selling. So read your labels and buy American when you can.
Posted by: Lydia | April 14, 2011, 7:58 pm 7:58 pm
And that downturn was caused by 4 policy changes by previous administrations: the Repubs in the 90′s weakening banking regs, bad trade agreements which lost us jobs, encouraging outsourcing of jobs with tax breaks and lifting of tariffs,& Bush’s tax breaks for the wealthy.
====
One of the most important factors in the subprime crisis was the existence of GSEs. Without the GSEs, they banks had no one to offload their toxic mortgages to. One other major factor was low interest rates. Low interest rates allowed liquidity to enter the system in irrational ways.
The regulations would have no realistic effect. The high leverage ratios employed by the banks were universally supported. And the proof of the inadequacy of regulation is that no one of significance has been prosecuted.
====
This administration has pushed through strong banking regs, Dems tried to end the tax breaks for out-sourcing but Repubs blocked it from coming to a vote and the Repubs are against ending the tax cuts for the wealthy. I don’t think anyone is talking about reworking trade agreements.
====
Strong banking regulations are a very irrelevant. The idea that banks will be held accountable is ludicrous. They are getting free money from the taxpayer, why do they need regulations for that? We are giving money to them, and the regulations allow it? Why would they want to change or break the rules when they are getting money for free?
====
Even if all 4 of these things were fixed tomorrow, it doesn’t change the fact that a tremendous amount of money was lost by a lot of people, so they have less to spend. Some folks lost half their savings.
====
The money that was left over from being lost is now being devalued because of our federal deficit spending. It’s a double whammy!
Posted by: Mike, CO | April 14, 2011, 8:12 pm 8:12 pm
“your long list of what is wrong are all due to the economic downturn, not current administration policies.”
Posted by: Lydia | Apr 14, 2011 7:58:21 PM
Sounds to me like you’re in deep denial. Obama accelerated and deepened the recession. My list, which you failed to debunk, occurred during Obama’s presidency. For example, gas more than doubled on Obama’s watch, hurting the working poor. Our intervention in Libya made it spike sharply. His response: Get used to it or trade in your car. Keep that liberal compassion in mind next time you spend $60 filling up your gas tank.
Posted by: Chuck | April 14, 2011, 9:13 pm 9:13 pm