Obama Has No Answer on Unemployment
by The New LedgerIn this week’s edition of Coffee and Markets, featuring The New Ledger’s Francis Cianfrocca, we’re talking about the latest unemployment numbers, the call for a millionaire’s tax, and Christina Romer’s goodbye remarks. We’re brought to you as always by BigGovernment.com and Stephen Clouse and Associates.
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Related Links:
TNL: Barack Obama is Losing Time
Romer: My Plan Failed
The Hill: White House Rules Out Stimulus Sequel
TNL: The Troubles Rich People Have
TNL: Critiquing Newt Gingrich’s Economic Policy
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61 Comments
Of course he doesn't. And moreover, why should he when he can play golf and always blame Bush. /S
Well after all he has been on vacation.
Of course Hussein has no answer on unemployment, what would a community organizing parasite know about job creation? His own treasury secretary is a tax cheat.
This whole admin is a twisted SNL skit..
How could he have answers for anything with out an answer czar
Obama's new Czar tells the unemployed "My advice to you is to start drinking heavily." SHOCKING story at:
http://spnheadlines.blogspot.com/2010/03/homeland...
Peace!
No Bama has no answer on anything, well, no correct answer.
Alfred would do a better job than No Bama and his cronies.
Well there you have it….spoken from the leader of the country. He just don't have an answer at this point, perhaps after a few rounds of golf, and a few more vacations he will be able to read something from the teleprompter.
Go away and come back again in a few more months.
and off to camp david for yet another weekend getaway….
http://abcnews.go.com/Business/wireStory?id=11550...
It is wrong to suggest that the toddler offer suggestions to such mundane problems as unemployment. It is below him. He needs that superlative mind of his clear for loftier thoughts to better devise ways to quickly and efficiently destroy the economy and the country.(sarc.)
Unemployment is not the only thing BO doesn't know about. He does not know about what makes this country great. He doesn't know about why this country has been a beacon of freedom when all other attempts has failed. He doesn't know about how hard his bad decision are making the American citizens work to survive.
He does know about how to tell you what is best for you from afar. He does know about how to take vacations. He does know about how to spend OPM.
Into the Oval Office so freshly painted
There is a certain corner with fresh urine tainted
He has been chewing up papers he shouldn't oughta
The mischeivous Bo is in hot water
Like his master he is ignorant without restraint
Typical response from the jug eared Harvard wonder boy who's grades and papers remain a mystery.
"Hey, We're buying Shrimp & Lahbsta for Michelle Antoinette. Don't bother me with your petty problems"
He has no answer for ANYTHING!
Well, that's good that he admits what WE THE PEOPLE have known for the past 18 months!! If only he would resign with a little dignity! Naaahhh…too easy!
"Let them play golf . . . . "
Sure he does.
"Let me be clear……Bush Did it"
Then he will begin flapping his ears, fly off, and join dumbo in that big circus in the sky.
Vacations (plural). But hey, everyone needs a vacation from their vacation from their vacation.
There once was a man named Barry
Whose vision for the country was quite scary
When asked "What is your plan?"
He replied "Take as much as you can from the man"
And then resumed his arrogance, quite airy.
At this point Mr. Obama is faced with the danger of "President/Party Fatigue" – if he doesn't get something moving within the next 12 months he will forfeit reelection and his party will be destroyed in the 2012 elections as well. This was the case with Truman, Johnson and Carter. All of these presidents started to see a recovery from the huge spending they enacted, but the recovery really didn't take hold until the waning months of their presidencies. By then, their presidencies were already considered a failure by Americans and Americans always vote their wallets, so they got the boot.
Mr. Obama's current proposal is too small to have impact – $30 billion in new spending will come at a net cost of around 75,000 jobs – in other words, the small bank bail out bill will end up killing about 75,000 private-sector jobs to enact and will have no real expectation of lasting effect. While it is true that fractional-reserve lending may expand it, it is still no different than a $30 billion increase in fractional-reserve lending capacity that is not supported by wealth creation activities in the private-sector economy. In the end, it will have the opposite of the intended effect and that is why my calculation of 75,000 jobs lost will be what we see – little or no impact.
Mr. Obama has to make a calculated political decision – does he want to stick with ideology (and go down with the ship) or does he want to at least sustain the Democratic Party as being viable in 2012? To do that he is going to have to suspend capital gain taxes on small-business capital gains held for at least two years and dividend income resulting from same – provided the gains come from equity investment. This will create a huge investment boom and the result will be a huge amount of employment coming on line around this time next year – right when the Democrats need it.
The question is whether or not dogma is more important than results. In days gone by, dogma was always more important to progressives. I guess we are going to see how progressive Mr. Obama really is…
Gee, I just realized I was wrong. No Bama does have an answer. The answer is ….. Vacation Time !
At this point I think that no matter what he does he is going down with the ship. The seas are too stormy for his or the Dems recovery, and there is another hurricane on the horizon.
Never say never. If he put out a holiday on equity capital gains for small business issuers, I think we could easily see $25 billion in new investment in small businesses each month over what we see today. That could back 3,000,000 jobs over the ensuing 12-month period. That would give him the political room to make the argument his policies are slow, but they are working. People vote their wallets and a good measure may buy into that.
I agree, however, I cannot see him doing that. It is against what they want to accomplish and their nature. I think they don't care if No Bama is reelected.
I could be wrong tough, especially after they loose both houses this fall.
I think by then it may be too late. It will become an item for the new congress and the Republicans will make it their own policy they have to shove down Obama's throat. In the end, I think you are going to win this debate on points. The clock has already run out and everyone knows it but Obama.
Obama, "Government view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."
Ronald Reagan
Never Gonna Stand For This
http://www.youtube.com/watch?v=PIPoPw9zgvQ
The poser has never had to actually look for a job and has only had to take ones given to him.
He has no idea what unemployment is.
I just hope the clock hasn't run out on us.
If you ask me, playing golf is the best thing he can do. If he's on the links, he's not wrecking even more havoc.
The problem is he's too vain to realize that.
I agree with you up to a point. Yes that would help a lot. The real problem in my opinion is the uncertainty.
If the government announced that today, what's to stop them from simply changing their mind on Tuesday? Absolutely nothing. And that is the problem. Investors don't know what to expect, so they're hedging their bets.
And I don't blame them in the least.
Is the recovery over already, I must have missed it.
Here's the answer for unemployment. Mr. President, Speaker, Majority Leader $#@!#%^$$ STOP WHAT YOU ARE DOING!!!!!!!!!!!!!!!!!!!!!!
As long as no one knows the rules, no one is going to invest anything, no job creation will happen. The public sector is not the engine of the American economy, the private sector is. And as long as the rules change on a daily basis, no one in their right mind is going to make significant investments.
Risk can not be accurately assessed when the rules change from day to day.
Hey! Look over there!
Did anyone get the teleprompter's policy on unemployment?
there is nothing more he could do to make me "appreciate" him or agree with him.
I already hold too many grudges from what he and his democrapic machine have done up til now.
I will Never Ever vote for one of those lefty bitches Ever.
Obama has a very clear plan. In his own words, he will "Fundamentally Transform America!" and he has abused and robbed U.S.against our televised protests for 2 years.
He told Joe the Plumber, in his own words, to "step down, so someone else can step up! " HOW MUCH CLEARER CAN HE BE? He resents American and it's prosperity. He believes in "Re-distributing" OUR money to others, in his own words!
THE MAN & his followers are DICTATORS! Bring on the Trials for ABUSE OF POWER!Treason! Deriliction of Duty, and Crimes against a Nation!
Obama's economic advisers want to double down on the roulette wheel and gamble our entire nation on one big risky bet! They will be wrong!
At the end of the interview, he reiterates a point made by a former Fed governor about a weeks ago. It is that by artificially suppressing interest rates to extreme levels, it denies income to people who depend on fixed income, thus also suppressing demand from these groups and thereby also depressing the economy and employment. This would include people receiving money from pensions, seniors with CDs in the banks, bondholders, etc. Since their incomes from investing capital is so low, they are spending less, thus suppressing economic activity.
It's actually even worse than that. It also encourages the very types of risky behaviors that brought us to the brink in the first place. I encourages people to buy real estate at excessive prices because loan interest rates are artificially low. It encourages banks to make not only those real estate loans, but loans of all kinds. The banks, because they have been bailed out so many times, now don't perceive any risk to making highly leveraged and high risk loans. They know that if they make bad loans, the government will bail them out. Hedge funds and other shadow banking enterprises perceive little risk because they can borrow so cheaply, so they borrow even more and risk even more.
An example might help. If you have a credit card, and the interest rate is 1%, are you more likely to borrow more money than if they interest rate is 20%? If I could borrow from my credit card at 0-1%, as banks can do from the Fed, and I can invest it at 4-5%, then why wouldn't I take that risk? If I could borrow from my credit card at 0% and buy dividend-paying stocks that pay me 4-5%, knowing that if I lose money, the government will bail me out, then there is no perceived risk for me to borrow as much money as I can get my hands on. And this is exactly what the banks can do. Thus, they borrow to the hilt, take excessive risks, and pass their failures to the taxpayers. And we thus end up with greater and greater debts as the government just borrows more and more money to take all those bad debts off the bankers' hands.
We are also running a very high risk of igniting hyperinflation, especially when the bond bubble eventually pops. The rush for the exits and the resulting rush into commodities could collapse the Dollar almost overnight and result in a hyperinflationary depression. This would be the worst of all worlds! It has happened before in other countries that have done what we are doing now! (for a good explanation of this scenario, search for Gonzalo Lira's blog or Gordon Long's "tipping point" articles, or John Hussman's weekly free economic articles onthe website of Hussman Funds).
The bottom line is that we have created a black hole of debt, rewarded the players who have taken the worst risks, and penalized savers who have been smart with their money. That is a recipe for a catastrophe. WE can not defy the laws of sound economics forever, and when the due date comes, it will be very ugly indeed!
Not only does he not have any answers, he doesn't even have a clue. Has proved to be inept at running the country and is absolutely killing all of us. He insults all Americans every time he opens his mouth.
A day of reckoning is just ahead!
We know his true agenda and he has no concern for unemployment, responsible spending, real justice, states rights, individual rights, the constitution or anything else important to us.
Obama would be a good blabbermouth preacher in some crazy church, but Otherwise he's been a vicious Anti-American DICTATOR to U.S!
His cohorts have also been vicious; Pelosi, Reid, Holder,Rham Emanuel,Valerie Jarrett, & Clinton. They turned U.S. in to the U.N! Enough said. Impeach them for that treason!
OK
Do we impeach "POTUS or TOTUS" ?
If the "Leader of the Free World" does not know how to be a "Leader" we should move him out of the White House over the weekend.
I will call the moving company and we all can go help him pack .
I will volunteer my services. Free of charge. Anything to keep US free.
who's in the white house revealed….
http://image.patriotpost.us.s3.amazonaws.com/2010...
take notice of the photos at the back of the room…
and yes barry does have a job…he fails at it too…lol
http://image.patriotpost.us.s3.amazonaws.com/2010...
recovery humor….
http://image.patriotpost.us.s3.amazonaws.com/2010...
http://image.patriotpost.us.s3.amazonaws.com/2010...
The only answer to American unemployment is a November Democrat massacare at the polls..
The only question is …What pre election surprises do they have up their sleeves? Tax cuts, tax holiday, whack Iran (big mistake),. allow domestic oil drilling? Whatever it is will be too little too late…
Bye bye Dims…
Obama DOES have an answer for unemployment: "File!"
(And I say that with all seriousness.)
Want proof? Who came up with the term 'the 99ers'???
No further questions. I rest my case.
Obama's answer on unemployment? Same as his answer on everything else!
"What, me worry ?"
Earlier today I heard a host on the radio mentioning a potential October surprise from democrats to try and lessen the damage in November. Some are speculating that Hussein and the anti-American democrats in congress will pass a bill to help small businesses.
It’s too late. Hussein, Pelosi and Reid have shown Zero interest in helping the businesses that are the engine of this economy. These elitist leftwing pieces of shyt think they can attack our economy, nationalize industries and companies like some banana republic dictators, intimidate dissenters with the full force of the federal govt, create unholy alliances with leftwing unions and then throw us a bone when they need us, only to return to attacking us if we were stupid enough to vote for them again.
Remember November; throw every leftwing socialist sack of shyt out of office.
I like your attitude. You are consitant, as I am. See below, which I wrote earlier today. You'll enjoy it.
I quite agree sbenard.
You are quite right He resents Americans,and is intent upon destroying U.S. imo. He loves socialism. He's quite clear about being a Dictator, which is perfect for a Narcissist like himself! It's all wrong. We CANNOT WAIT 2 years!
We need to start a Federal Investigation, in Nov, for Abuse of Power, Crimes against a Nation, treason for his associations and possible "deal" with Foreign Dictators, etc. Each one in Obama's Admin. need to be served subpoenas by Darrell Issa.
I hope Michele Bachmann and Paul Ryan are Pres & V.P. There are others too…
Hmmmm. A millionaires tax. I wonder if you tax millionaires would you have less of them, or just less of them hiring people? My guess is the latter. Lay off some workers to conserve wealth.
Seems like it would only hurt the "little people".
I can't help but think that with this guy and his stupid administration, when it comes to coming up with with any kind of policy … I visualize that proverbial stock broker back room that is full of monkeys throwing darts at the stock market page, only in this case the monkeys hit the page while these people don't even come close!
Obamas Liberation Theology ideas are failing.
When I take a vacation …which is rare as I am self-employed …I need a vacation to recover from the vacation, as do my friends & acquaintances.
Gosh …multiply Obama's vacations by at least 2.
He was great at getting people to "volunteer" …no pay, feel good.
Now he wants the rest of us to do the same, including those of us who are self-employed: no pay, feel good.
He has an answer to unemployment, unfortunately it's the wrong answer: more stimulus.
Wrong answer.
Wrong President.
Wrong Congress.
Time to start by voting them out to get some fiscal sanity back. It's the economy, stupid.
Has anyone seen the Republican Party? I thought they might like to get in on this fight.
where?????
before you start countin' those chickens comin' home to roost…some of you have forgotten that dumbasses vote more'n oncet…if they are union members or belong to any part of acorn they get at least 5 votes….if they belong to both it goes to 11…if they're dead and belong to both….hang on while I take off my clothes and shoes so I can count higher ……….
At least one surprise they have for this fall is all the stimulus money they've been sitting on to flood the economy and hopefully get some of the economic indicators looking a little better.
But they haven't a clue when it comes to economics – because they only listen to Keynesian economists. They expected to be in the home stretch by now, but they aren't even close.
This "surprise" is actually going to surprise them.
Wait…Blame bush *IS* his answer. Let it not be said he has no answer to unemployment problems!
But, I'd rather have a job than his answer.
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