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Old 06-29-2011, 03:19 PM  
HonestChieffan HonestChieffan is offline
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Obamanomics. Dead.

WOLF: Obamanomics is shovel-ready
The failure of Keynesian economics is no laughing matter, Mr. President
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By Dr. Milton R. Wolf -



In 1932, President Hoover received a letter from a man in Illinois that read simply, “Vote for Roosevelt and make it unanimous.” Based on its recent floundering, it seems even the White House recognizes that Obamanomics has been a disaster. It’s nearly unanimous now.

When President Reagan entered office, America faced a deep recession with double-digit unemployment and inflation, plus dishearteningly long gas lines. Rather than wasting time blaming his predecessor, the Gipper went right to work unveiling Reaganomics - an embrace of the free market - which included four simple principles: (1) lower tax burden, (2) lower government spending, (3) lower regulatory burden, and (4) a strong dollar monetary policy.

The top income tax rate was reduced from a stifling 70 percent to a low of 28 percent. Total federal spending was reduced from 23.5 percent of gross domestic product to 21.2 percent. Deregulation ended disastrous price controls and curtailed the government’s micromanaging of private businesses. Disciplined money supply strengthened the dollar.

As Peter Ferrara, policy adviser to Reagan, has described, the results were beyond spectacular. Reaganomics unleashed an explosive growth of wealth and prosperity, the largest in the history of humankind. Some 20 million jobs were created. Unemployment dropped to 5.3 percent. The gross domestic product growth rate hit a high of 6.8 percent, and the total economy grew by nearly a third. Inflation dropped to 3.2 percent. Even the oil shortage was solved almost overnight.

Barack Obama is no Ronald Reagan.

President Obama entered office peddling the false hope that government can “spread the wealth.” This is as foolish as bucketing water from one end of a swimming pool to the other. At best you achieve nothing; in reality, the spilled water along the way leaves everybody worse off.

Obamanomics favors top-down compulsory cooperation over voluntary. It is the anti-Reaganomics. Mr. Obama has done the following: (1) raised taxes, (2) unleashed a wild orgy of spending, including his disastrous so-called “stimulus,” (3) dramatically increased regulations and even nationalized industries and businesses, and (4) printed money out of “quantitative easing” thin air.

The results were predictable. Since the Obama stimulus - a collection of “shovel-ready” projects promised to save the economy - was signed into law, America has lost 1.9 million jobs and unemployment has surpassed 9 percent. GDP growth remains anemic. Consumer confidence has tumbled. Gas prices were at $1.81 per gallon before Mr. Obama put his “boot on the neck” of suppliers, and now it’s more than doubled, to $3.81. We burn our food supply in our gas tanks, and grocery prices have skyrocketed - some staples by as much as 40 percent. Since the president signed his mortgage rescue plan, Americans have seen 3.82 million foreclosures. Most disturbingly, the majority of Americans are receiving some type of welfare.

Want to better understand Obamanomics? Look no further than “cash for clunkers,” Mr. Obama’s laughably misguided idea to use American’s wealth to, quite literally, destroy American’s wealth, to use taxpayers’ money to destroy taxpayers’ working automobiles. Despite the propaganda, these weren’t “clunkers” at all. I continue proudly to drive one myself. Edmonds.com estimated the cost per new car sold at $24,000. Some estimates are much higher. A year later, auto sales were at their worst in 27 years and Americans - low-income Americans in particular - are suffering a government-created shortage of low-priced cars. Still the Democrats claim that the clunkers program “has been successful beyond our wildest dreams.” The truth is, it was motivated by environmentalism, not economics. It reflects Mr. Obama’s arrogant belief that he knows better than you what type of car you should drive. Controlling your behavior is one wild dream, indeed.

Mr. Obama, abandoning any pretense of economic literacy, has placed the blame for unemployment squarely on America’s archenemy: the ATM. The jobless rate remains high, according to the president, because - it’s hard to make this stuff up - “when you go to a bank you use the ATM, you don’t go to a bank teller.” Other Democrats share his ignorance. Recently, Rep. Jesse Jackson Jr. claimed that Apple’s iPad was “probably responsible for eliminating thousands of American jobs.” Mr. Jackson, an iPad owner himself, adds hypoc-risy to ignorance.

Mr. Obama, meet Ned Ludd. In the early 1800s, the Luddites - named for Ned Ludd, an alias used to conceal their leaders’ true identities - sabotaged factories for fear of new technology. Their mistake was a belief that jobs themselves are prosperity when, in fact, it’s the products and services of those jobs that create prosperity. The government could hire people to dig holes and other people to fill them back in, but America would be poorer for the wasted effort. In reality, new technologies, from the advent of the wheel to today’s nanotechnology - including the ATM and the iPad - increase efficiency, which frees people for more important endeavors. This is the precise mechanism that improves mankind’s standard of living.

And now, as Obamanomics continues to crumble, the president has made a stunning admission: ” ‘Shovel-ready’ was not as shovel-ready as we expected.” The line drew laughter from his friendly audience. This is not the first time his own supporters have been caught laughing at Obamanomics. Last week - before the Democratic National Committee, no less - the president made this wild claim: “Over the last 15 months, we’ve created over 2.1 million private-sector jobs.” That despite the record showing America has 1.9 million fewer jobs today than before his “stimulus.” According to the White House’s own transcript, what followed next was “laughter” (until later, that is, when Orwellian Ministry of Truth officials in the administration scrubbed the record and changed the transcript to read “applause”).

Americans are suffering, Mr. President, and it’s no laughing matter. It’s time to put Obamanomics where it belongs: on the trash heap of history. Got a shovel?

Dr. Milton R. Wolf, a Washington Times columnist, is a board-certified diagnostic radiologist and President Obama’s cousin.

http://www.washingtontimes.com/news/...-shovel-ready/
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Old 06-29-2011, 04:11 PM   #2
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Some will try to twist the results, but Reagan did a good job when coming into office at a bad time.


Obama has been trash, yet blames Bush for EVERYTHING. Obama is a ****ing loser.
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Old 06-29-2011, 04:57 PM   #3
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No politician has the balls of Reagan. In the face of what we see here and now, he was smart and allowed Volker to raise rates. Did it hurt? Yes. Did it work? HELL YES! It ****ing killed the BS that's going on now (oil reserve releases, raising the debt limit... as if more debt solves the debt problem, facing our aggressors eye to eye).

We need less Harvard/Wharton school of thinking and more common sense. The Chinese see our faults and tell us to **** off... and yet we're so ****ing smart we keep on doing complete, unadulterated Ivory Tower bullshit because Bernanke (who hasn't been right yet) tells us this is the path.
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Old 06-29-2011, 05:01 PM   #4
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Damnit! I mis-read the OP title and got excited for a minute.
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Old 06-29-2011, 06:01 PM   #5
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Originally Posted by notorious View Post
Some will try to twist the results.... Obama has been trash, yet blames Bush for EVERYTHING.
I hear you - did you see today's NY Times / CBS News poll?

Who deserves the most blame for the condition of the economy?
64% blame the Bush admin, Congress & Wall Street
8% blame President Obama

Its just a puny little teensie weensie tiny little weenie little segment of Americans that blame Obama. Imagine how those few tiny little weenie 8% of Americans feel? To be so amazingly incredibly out of step with the rest of the county - how isolated can you be? But at least today's poll also shows some hope for them:

2012 Republican candidate that makes you most enthusiastic?
84% chose "no one," "other," & "don't know"
7% chose Romney
7% chose Bachmann
2% chose Cain

84% is a huge number. No One Other Don't Know has a great chance of beating the President in 2012. Although, in spite of a terrible economy, the President's approval rating is still above his disapproval, he just cannot compete with Republi No One Other Don't Know.



http://www.cbsnews.com/8301-503544_1...in;contentBody
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Old 06-29-2011, 06:04 PM   #6
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Whats funny is Obama has the same economics as Bush but most here are too stupid to look past the R or D.
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Old 06-29-2011, 06:04 PM   #7
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Quit posting pics of that smarmy bastard, I can't stand to look upon his ill begotten face.
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Old 06-29-2011, 06:51 PM   #8
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Originally Posted by Stewie View Post
No politician has the balls of Reagan.
If only we could could have the Reagan Economic Adviser's take on whats being proposed today, the opinion of the Reagan Economy Architect on current Republi economic policy. I'm sure that he would have some insightful input on what both Obama & the Republis are proposing. Why, just today Senate Republis put forth an amendment supported by all 47 Repuli Senators. I just wish we could get the opinion of the Mighty Reagan Economic Adviser, Bruce Bartlett..... Oh hey now wait a minute - Reagan's Economy Guy did have a comment! Lemme see if I can find it for us.... oh - here it is:

"This is quite possibly the stupidest constitutional amendment I think I have ever seen. It looks like it was drafted by a couple of interns on the back of a napkin. Every senator cosponsoring this POS should be ashamed of themselves." - Bruce Bartlett, Ronald Reagan Economic Adviser
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Old 06-29-2011, 07:02 PM   #9
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Quote:
Originally Posted by Ugly Duck View Post
I hear you - did you see today's NY Times / CBS News poll?

Who deserves the most blame for the condition of the economy?
64% blame the Bush admin, Congress & Wall Street
8% blame President Obama

Its just a puny little teensie weensie tiny little weenie little segment of Americans that blame Obama. Imagine how those few tiny little weenie 8% of Americans feel? To be so amazingly incredibly out of step with the rest of the county - how isolated can you be? But at least today's poll also shows some hope for them:

2012 Republican candidate that makes you most enthusiastic?
84% chose "no one," "other," & "don't know"
7% chose Romney
7% chose Bachmann
2% chose Cain

84% is a huge number. No One Other Don't Know has a great chance of beating the President in 2012. Although, in spite of a terrible economy, the President's approval rating is still above his disapproval, he just cannot compete with Republi No One Other Don't Know.



http://www.cbsnews.com/8301-503544_1...in;contentBody


Quote:
A generic Republican candidate now holds a four-point lead over President Obama in a hypothetical 2012 election matchup. It's the fifth week in a row that the GOP candidate has been ahead and the widest gap between the candidates to date.
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Old 06-29-2011, 07:04 PM   #10
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So all they have to do is run a hypothetical candidate instead of one of the losers who are interested.
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Old 06-29-2011, 07:05 PM   #11
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Whats funny is Obama has the same economics as Bush but most here are too stupid to look past the R or D.
The truth you are speaking. The Dems since they took over Congress took what Bush was doing to another level. Obama was only happy to show he could outspend the big spender.
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Old 06-29-2011, 07:06 PM   #12
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So all they have to do is run a hypothetical candidate instead of one of the losers who are interested.
Whatever it takes! It's pretty sad though when the President loses in a poll to someone to be named at a later date.
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Old 06-29-2011, 07:06 PM   #13
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I'll believe it when I start to see more than 25% for any individual Republican candidate. It may take awhile since there are lots of hats in the ring, but as proven in 2004, public dissent alone can not put an incumbent president out of office. It takes actual public support to do it.
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Old 06-29-2011, 07:14 PM   #14
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I'll believe it when I start to see more than 25% for any individual Republican candidate. It may take awhile since there are lots of hats in the ring, but as proven in 2004, public dissent alone can not put an incumbent president out of office. It takes actual public support to do it.
It's all going to come down to one thing....the economy. It's that simple. I don't give a **** about what is going on with the wars, illegal immigration, energy, deficits, etc., etc. It's about J O B S! If the unemployment rate is still close to what it is now then Obama can kiss his half-black, half-irish, half-indonesian ass goodbye.

Clinton had it right, it's the economy, stupid. People vote with their wallets. If unemployement and the cost of gas, in that order, don't come down by election time he is toast.
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Old 06-29-2011, 07:36 PM   #15
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Quote:
Originally Posted by Ugly Duck View Post
I hear you - did you see today's NY Times / CBS News poll?

Who deserves the most blame for the condition of the economy?
64% blame the Bush admin, Congress & Wall Street
8% blame President Obama

Its just a puny little teensie weensie tiny little weenie little segment of Americans that blame Obama. Imagine how those few tiny little weenie 8% of Americans feel? To be so amazingly incredibly out of step with the rest of the county - how isolated can you be? But at least today's poll also shows some hope for them:

2012 Republican candidate that makes you most enthusiastic?
84% chose "no one," "other," & "don't know"
7% chose Romney
7% chose Bachmann
2% chose Cain

84% is a huge number. No One Other Don't Know has a great chance of beating the President in 2012. Although, in spite of a terrible economy, the President's approval rating is still above his disapproval, he just cannot compete with Republi No One Other Don't Know.



http://www.cbsnews.com/8301-503544_1...in;contentBody

The Democratic Congress wasn't an option?


Besides, did I say anything about Obama getting beat? Did I say anything about a Republican beating him?

Nope.

I do not believe that a President can have a direct impact on the economy. He has indirect control, such as helping the public's mindset with solidarity, giving us direction, telling business owners what to expect.

He has failed miserably with the people that actually contribute to this country. His support come from people that are employed by the government or have come to live off of the government. You know, the kind of people that won't survive a week if this country goes to shit.
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