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Updated Fri., June 1, 10:38 a.m. - President Barack Obama finds himself in a political game of "beat the clock," in which each successive economic report increases in electoral importance.
Pool / Getty Images
President Obama, along with his supporters and allies, will likely do what they've done for the past 19 months: hail employment growth but say there's much more work to be done.
The Bureau of Labor Statistics issued a report Friday reflecting dismal growth in employment in the month of May, an indicator of the rate at which the economy's recovery from the recession might have slowed.
The economy added only 69,000 jobs in May, well below economists' expectations. As a result, the unemployment rate ticked upward to 8.2 percent from 8.1 percent in April.
The White House stressed what it has for the past 19 months, hailing employment growth but saying there's much more work to be done.
"[O]ur economy is facing serious headwinds, including the crisis in Europe and a spike in gas prices that hit American families’ finances over the past months," said Alan Kreuger, the chairman of the Council of Economic Advisers. He added a note of caution: "It is important not to read too much into any one monthly report, and it is helpful to consider each report in the context of other data that are becoming available."
Presumptive Republican presidential nominee Mitt Romney and his Republican allies, meanwhile, pounced, arguing that the recovery would be more robust if not for the Democratic incumbent.
An msnbc TV panel discusses Mitt Romney's promise to get the unemployment rate to 6 percent, and President Obama's jobs record.
"The president's re-election slogan may be ‘forward,’ but it seems like we've been moving backward," Romney said. "We can do so much better in America. That's why I'm running for president."
But the administration’s biggest challenge might be on the calendar, not the campaign trail.
Voters’ sense of the nation’s economic trajectory tends to take shape in the summertime, said Alan Abramowitz, a political scientist at Emory University who’s developed predictive models for presidential elections.
“It's more a matter of how people perceive the direction of the economy, and that's going to be influenced by these reports as they come out,” he said, stressing in particular the importance of midsummer numbers on gross domestic product growth in the second quarter.
Right now, the economic numbers for Obama are essentially borderline –- a variable in keeping with the closeness of the campaign between the president and Romney.
“You would think, based on some of the indicators, if Gov. Romney were making a stronger argument, he should have an advantage in a weak economy,” said former Virginia Rep. Tom Perriello, a Democrat who heads the Center for American Progress’s Action Fund.
GDP figures from the first quarter, released on Thursday, were revised downward to show the economy grew at an annualized rate of 1.9 percent from January through March. And the economy added 115,000 jobs in April.
Both numbers are positive but lag behind the political expectations for the strength of the recovery, especially since Obama’s in his fourth year in office.
First Thoughts: Observations on the latest presidential polls
Lynn Vavreck, a political scientist at the University of California, Los Angeles, suggested that while Obama might not have much time to change underlying impressions, that level of growth might be enough.
“I don’t think he’s the underdog here,” she said of the president.
She said it’s hard for a challenger like Romney to “steal” an election just by arguing that growth hasn’t been on pace.
“These guys are not stealing these elections away from the incumbent party by arguing about whether the economy has been good enough, or whether the growth has been enough,” she said.
Voters’ sense of the trajectory of the economy matters, too. Job creation and GDP growth were far better in late 2011 and the beginning of this year than they seem to have been in the past few months, feeding into a sense that the pace of the economic recovery has slowed.
Sen. Mark Warner and Sen. Jerry Moran are working together on a bipartisan jobs bill called the "Startup Act 2.0."
That sense pervaded the May NBC News/Wall Street Journal poll, which showed Americans’ approval of Obama’s overall job performance and handling of the economy had each ticked downward. Not by coincidence, the horse race between Obama and Romney tightened, too.
To make matters worse, the window is closing on Obama’s opportunity to convince voters that things are improving. At some point, the overall perception of the direction of the economy will be “baked in,” and that raises the stakes for the next few months of economic figures.
“It's important, and it may be the most important thing, given that we're heading toward a close election –- more important than any campaign event or advertisement,” said Abramowitz. “It's probably going to have more impact if it happens soon, rather than at the end.”
Perriello cautioned, though, about a gap between “substance” and politics, noting that Republicans’ push to cut government spending -– a kind of austerity agenda along the lines of what many Europeans have pursued -– might have contributed to a slowdown for which Obama gets blamed.
NBC-Marist polls: Obama, Romney deadlocked in three key states
“It's not often in history you get a chance to see what would have happened under the Republican approach,” he said, referring to downturns in various European economies. “The politics of that are that if you're in the White House, you have to answer for what the unemployment rate is."
There are other looming variables that could shake up the trajectory of the election. A foreign policy episode in Iran, Syria or elsewhere could dethrone the economy as the No. 1 issue.
Or, when it comes to the economy, a deterioration of the financial situation in European economies could have reverberating effects in the U.S., the political outcome of which is mostly uncertain.
That’s not even to mention the millions of dollars that will be spent by Romney, Obama and their respective supporters to spin responsibility for the economic climate.
“There’s this big elephant that’s out there,” Vavreck said.
Leave a Comment:
Pack your bags 0bama.
Stock market will tell whether he needs to. According to socionomic theory, when the crowd turns from optimism to pessimism, it is first seen in stocks, and then the rest of the economy. Google for "social mood drives stocks" to understand how social mood is reflected in stocks, economy, politics and culture. A president who is in office during a bear market tends to lose the election. This is because the negative social mood that is driving the prices lower also works against him.
Obama needs to stay, Romney has no plans to fix the economy or unemployment. His plan would have been to let it all fail, like the auto industry, and we'd be in a depression right now.
Romney has given no specific plans to fix the economy or unemployment. He simply says he will.
"Trickle down" economic got us into this mess, and clearly won't fix it.
Can Romney take over companies and rape them dry of money if he is elected? Would this be a conflict of interest if by some longshot he was elected? Or does he does he have enough with 250 million in the bank? I think we should ask Mass how that worked out for them..........
Eric,
The auto industry STILL went to bankruptcy court, and gone through about the same reorganization except the plug would have been pulled on the Volt too. These reorganizations were discussed for 3 - 6 months before Bush gave them a few billion to tide them over until Obama took over.
Seven to seven
If raping businesses results in 80% of the businesses invested in being profitable and growing like Bain's track record, Bain should be "raping" them all, then everyone would have jobs!
What as sorry way to look at business. Is that what being democrat or liberal is all about. If it is, I assure you the majority of Americans will want nothing to do with either.
Good spin Akron, you believe that you must be brainwashed. The only profits ended up in Romneys bank account. I am actually a card carrying REPUBLICAN and could not vote for any of the POS candidates the GOP sadly put forth. Get ready for 4 more years dude..........
Bottom Line;
There were 134,379,000 people working when Obama took office, per the government's BLS.
There were 132,989,000 people working as of April 2012 - That's a LOSS of 1,390,000 jobs under Obama.
The National Debt has increased from $10.0 Trillion at the end of fiscal 2008 to $15.7 Trillion now, an increase of $5.7 Trillion in only 3.5 years. That's $5.7 Trillion of 'stimulus' deficit spending.
The economy (GDP) has improved by only about 4% in almost 4 years - about 1% per year.
No matter how they try to 'spin' it, Obama has been a huge FAILURE.
Seven to Seven
I work directly with hospitality, and industrial businesses. If they don't spend, I don't work. They only spend when the numbers work, or unless they have no other choice. Part of my job is to keep their expansion afordable.
I haven't had a lot of work for 4 years. Hospitality quit expanding and even delayed the required 7 year refreshes. Part of it was because travel decreased, but the bigger part was banking won't loan to higher risk ventures, which is hospitality.
I also worked in retail. Only the most profitable are expanding OR if a chain goes bankrupt, the frugal pick up the vacated box at a huge discount making expansion profitable. Despite that kind of deal only 1 in 3 of those that could be done are put under contract.
Currently I'm working with Industrial. No new buildings, just add just enough space to cover expansion for the next 3 - 5 years or give them enough space to make them. Even this is spotty, I had to find work outside my primary field to eat and stay ahead of the bills for a couple of months.
Medical and pharmaceuticals are cutting again. A further sign of things to come with the ACA. More experience nurses are experiencing layoffs to shed their wages. My brother is in pharmaceutical systems. partly from a bad cost cutting decision, he came close to losing his job and lost some of his help because orders for systems weren't coming in form hospitals.
If brain washed is seeing the everyday realities and reporting it, then I have no idea what you are smoking and don't want any of it.
Got any proof on that????
No, the debt increased to $11.9 trillion under Bush if you count the spending policy in 2009 which he signed upon. Obama only raised the deficit by roughly $3.8 trillion over 3.5 years, and by even less if you count his actual spending policies.
OBAMA BIDEN 2012
Time for the White House to announce "Summer of Recovery - 2012" !!
Wait a dad gum minute....what happened to the other "Summers of Recovery" ?
And, the "Obama Bucks" are running out, the National Debt is rising every second, and there is NO $$$ left in the piggy bank.
Maybe Mr. Obama could get his Treasury Secretary out of his office and prosecute those folks who HAVE NOT PAID THEIR BACK IRS TAXES....and he can start with the 41 Obama White House staffers and some of their aides.
WILSON CONTINUES TO MAKE UP HIS OWN FACTS, right on cue.
1. Republican governors like Snyder, Walker and Scott have cut 600,000 public employee jobs since 2010.
If they had not done so, our unemployment rate would be at 7.2%.
2. Other Presidents, including GWB increased government workers after recessions. President Obama is the only President whose government workforce has decreased-- and after a devastating recession.
3. There were 100,000,000 (one hundred million) LESS Americans living in our country when Reagan was President.
4. Even so, there are 35,000 LESS non-military public employees under President Obama.
5. 4.2 million private sector jobs have been created in the last 26 months.
That is MORE jobs created, than were lost - since President Obama came into office.
Roy, that isn't the whole story. The work force is the smallest it has been since 1981 when Reagan was sworn in.
When Reagan took office, our population was about 231 Million people. Today we have 311 million people. That is 80 million people more and our availabe workforce is SMALLER?
DB Akron "If brain washed is seeing the everyday realities and reporting it, then I have no idea what you are smoking and don't want any of it."
Seven to Seven is a hopeless case who actually believes the 'rhetoric' that Obama puts out.
Some people get 'high' on the strangest things. For them the 'withdrawal' symptoms will be very difficult for them.
DB Akron "Roy, that isn't the whole story. The work force is the smallest it has been since 1981 when Reagan was sworn in."
You must be talking about the 'Labor Participation Rate', which has indeed shrunk precipitously under Obama. If they used the same Rate today as under Bush, the Unemployment Rate would be about 12% - double what it was under Bush. While there are about 25 million more workers than under Reagan in 1988, as you point out, there are about 80 million new people.
In addition to there being 1.39 million fewer people working now than when Obama took office, there are an additional 6.7 million people that have graduated - only to find there are no jobs.
Backhouse those governors went from multi-billion deficits and headed to bankruptcy to modest hundred million dollar surpluses while hiring police, Fireman, and Teachers.
Walker's cuts have been exaggerated to have cost 18,000. The actual loss was 12,500. BUT at the beginning of the 2011-2012 School year schools hired 1700 teachers because they had surpluses instead of deficits. They are looking for over 700 more teachers for 2012 - 2013. This year Wisconsin has added 6100 new jobs where in the previous years Wisconsin was losing private sector jobs. That is only through April. If his pace continues, and it should, have replaced all those government jobs cuts with private sector jobs in less than 5 months.
This just tells you how much damages Bush did.
There is no reason to vote for Romney who has declared he wants to go back to the same failed GOP policies that caused this mess in the first place.
Pigotry.....
So you want to tag along with Mr. Obama's "Forward" re-election agenda which he has stated he wants to continue with his FAILED agenda ?
I could post a list of his FAILED programs which BILLIONS of taxpayer dollars have been directed at his campaign supporters and special interest groups, however the Left would collapse it.
It seems you have some research to do before you put that check mark on your ballot.
No one wants Obama any more ....
He's done ....
And he knows it ....
I would rather have Obama than Romney. If you trust this Corporate Raider you are sorely mistaken. To all you fine GOP's out there I say put up someone you can actually vote for seriously. Let's see, last time McCain and a Alaskan nutcase, this time a Corporate Butcher who does not even know how much is in his checling account. Because!! It would take a room full of CPA's to figure out how many millions he spent on buying an election and what the stock market did today.
Give me a choice, a real choice, I would love to vote for a Republican. This is why Romney will lose soundly. Becuase you give us zero alternatives, there are many more like me.............
Obama has been a fiscal disaster ....
I hope you don't fiscally manage your homes fiscal responsibilities ....
Yes Seven2Seven there are many more like you , and just like you, they are called liberals. You are not fooling anyone.
Tell us all about the things Romney has done that makes him a better choice than President Obama? Puleeze, as Romney's record continues to be exposed, more and more voters will reject him.
He is trying to run on his experience as a businessman -- Had he been anything other than a corporate raider, perhaps he could tout this. Private Inequity is a demerit that is opposite of what a POTUS, Commander in Chief, and leader of the free world should be. You call replacing a lot of good paying jobs with a few crappy jobs a "job creator," seriously? Short-term gain for investors at the expense of workers and businesses is the way the country should be run, really?
Then look at the Olympics, or rather opportunism and connections in Utah to launch his bid for governor. Romney used his Private Inequity experience in the Olympics alright, by funding it with government handouts and treating volunteers like sh!t. Romney bullies those who are weaker, especially when he is in a pack.
Then look at his time as governor. Just like the Olympics, he had barely begun his term and was already using it to launch his bid for a presidential run. Aside from a less than impressive record as governor, Romney cut and run the last two years. At least Sarah Palin left the building and stopped collecting a paycheck.
I can't think of one, single positive thing about Romney. I could about McCain, and even Dubya. But Romney is despicable, through and through. It's hard to choose what is most despicable, the War on Women, a pack mentality of bullying instead of courage and leadership, blowing dog whistles like Nazi "appeasement" or Birther-type attempts to paint the president as un-American. Bain "vulture capitalism," along with Citizen's United and "corporations are people too" BS, that's what is anti-American!
You'll note Romney's slogan is "restoring American greatness" rather than "restoring the American Dream." Because Romney's definition of "greatness" is an oligarchy rule of the rich and corporations along with a large military. The peasants, well they need to get back out in the fields to feed the aristocracy--they aren't deserving of anything, not even dreams.
Romney -- He's not in it for you.
Don't even try to defend Obama's massive disasters ....
You're reaching really hard ....
Everyone knows Obama has to go ASAP ....
The sooner the better ....
Patriot, what about the 4.7% unemployment in Mass when Romney left? You don't find that appealing?
And you look at venture capital as un-american? How so?
jpeg, not liberal just see the truth. Romney is one giant LIE. Obama inherited GW Bushes poop in the bed with the "shock and awe" of a military disaster that plummented the country into recession.
Think, Think, if you can, what could all that Bush war money have been used for in the United States? Thats reality, pull your big elephant head out of the sand and look around......Bush $hit the Bed.
Pigotry "This just tells you how much damages Bush did."
I love how you Liberals like to blame Bush for the sub-prime mortgage collapse in late 2008 and totally absolve the Democratic run Congress that spent the last two years of Bush's Presidency undermining him, ignoring Bush's efforts to control reckless sub-prime lending practices, and ignored their oversight responsibilities of Wall Street.
FYI - Chris Dodd(D) was chairman of the Senate Wall Street oversight committee in the Senate, and Barney Frank(D) was chairman of the Wall Street oversight committee in the House.
Bush could do nothing unless it was first approved by the Democratic Congress, so can you name ONE THING that Bush supposedly did to cause the collapse? If you want to blame Bush merely because he was the President at the time, what's your excuse for Obama?
In other words, Mr Obama, time is running out. You had your chance and blew it.
The only humorous aspect in all of this is the desperation of Obama's supporters who realize how badly he's blown it and just won't admit it. I mean, just read the lefty comments here....everything from the tired old "it's Bush's fault", to the completely disproven bullcrap about Romney bankrupting companies and pocketing their money (how do you steal money from a company that's broke?)
To paraphrase Reverend Wright, 'Obama's chickens are coming home to roost' (in November).
Seven ..... how did the military spending cause the mortgage meltdown and credit freeze that caused the recession? Maybe the subprime guys woke up one morning and thought ...."hey we went into Falujah today, i think i'll write some crap loans and package them and sell them to AIG"
HA, HA, HA!!! Two collapsed comments as the Repubs dreaming of the a win can't take the truth!! Good night and sweet dreams but November will be a nightmare for you...........
Also, the Baby Boomers (38% of the US Population) are retiring at the rate of 10,000 per day. Many who became long term unemployed that were near retirement, gave up looking and retired. The rest have reached 65 or older starting a few years ago. So yes, several demographic factors are in play that would 'reduce the size of the workforce', but the conservative windbags on here (like Rpu Wilson) will make the realities of demographics. Obamas fault none the less.
Eventually the baby boomers leaving the workforce will leave us with somewhat of a worker shortage, especially in technical and professional services. It will not be in time to help Obama's economy this year, but it will happen. Most people don't give a thought to the trend of our demographics in America.
Yawwwwn.....still waiting to hear Romney's Jobs plan and if he is signing up with Trump, Norquist and Ryan for his policies since he has no ideas of his own. Where are Romney's Solutions? Where is his foreign policy? Where is his jobs plan? What does he replace Obamacare with? WHat things need to get cut and what needs to be exempted? Romney just doesnt have any answers.
Romney the weathervane has no Core. Trump/Romney have no Solutions
Obama/Biden 2012
RomNut is trying to buy the election
The Kind of Men who support Flip Flop Romney
1) William Koch, Runs Oxbow Carbon, worth $4 Billion, Donation $2 Million to Romney’s Super PAC, What He Wants: To pollute for free, Koch’s fortune is tied to some of the nation’s dirtiest industries
2) Harold Simmons (a Swift Boater and corporate raider), Traffics in Toxic Chemicals, worth $9.8
Billion, Donation $800,000 to Romney total giving $16.7 Million, What He Wants: Plans to store radioactive waste in Texas
3) Bob Perry, Owner of Perry Homes, Worth $600 Million, Donation $4 Million to Romney’s Super PAC , What He Wants: Tort reform to limit jury awards on homebuilders who do shoddy work
4) Jim Davis, Chairman New Balance Shoes, worth $1.8 Billion, Donation $1 Million to Romney’s Super PAC What He Wants: A lucrative Defense Contract
5) Richard & Bill Marriott, Heir to Marriott Hotel Fortune, Worth $3.3 Billion, Donation $2 Million to Restore Our Future, What He Wants: A legal pool of foreign born workers to work in their hotels at slave labor rates Romney served twice on the Marriott Board
7) Edward Conard, Ex Managing Director of Bain Capital, Worth $250 Million, Donation $1 Million to Restore Our Future, What He Wants: To screw taxpayers like Romney does with half the tax rates of others
8) Frank VanderSloot, CEO Melaeuca, Inc., Worth $1 Billion, Donation $1 Million to Romney’s Super PAC , What He Wants: Less consumer protections
9) Steven Lund, Vice Chairman Nu Skin Enterprises, worth $31.9 Million, Donation $2 Million to Restore Our Future, What He Wants: A world safe for false advertising & marketing scams
10) Julian Robertson Jr., Hedge Fund Titan, worth $2.5 Billion, Donation $1.25 Million to Restore Our Future What He Wants: lower taxes for the Rich
11) John Paulson, Hedge Fund Titan, worth $12.5 Billion, Donation $1 Million to Romney’s Super PAC What He Wants: No restrictions on Wall St. gambling
12) Paul Singer, Hedge Fund Titan, Worth $1 Billion, Donation $1 Million to Romney’s Super PAC What He Wants: He Needs Fed backing in his lawsuit to collect $2 Billion from Argentina
13) Robert Mercer, CEO Renaissance Technologies, made $125 Million in 2011 alone, Donation $ 1 Million to Romney’s Super PAC ,What He Wants: To squelch a proposed tax on stock options
14) Kenneth Griffin, CEO Citadel LLC, worth $3 Billion, Donation $1 Million to Restore our Future What He Wants: To end Volcker Rule on Dodd-Frank Wall St excesses
15) L. Francis Rooney III, CEO Rooney Holdings, worth $40 Million, Donation $1 Million to Restore our Future What He Wants: More building contract patronage
16) Steven Webster, CEO Avista Capital, worth $4 Billion, Donation $1 Million to Romney’s Super PAC What He Wants: To Drill baby drill first owner of Deep Sea Horizon the worst environmental disaster in the Nation’s history
Donald Trump , Who knows what this guy wants he is a Birther nut
This is not a Democracy that’s a hoax it’s a Plutocracy
Obama has clearly flip flopped more ....
Without conditions, the President vowed to cut the deficit in half by the end of his first term. To keep the President's promise the 2012 federal deficit must not exceed 229.27 billion dollars and that is not happening. I want the President to explain why his promise has not been kept and what it is going to take and cost to pay back all of the money that we have been borrowing.
Just before the stimulus bill was passed the President's adminiatration issued a report that predicted unemployment both with and without the stimulus. To date we have been doing worse than it the stimulus had never been passed. I want the President to fully explain this situation to the American people.
Obama Economics
This is what happens when Obama invests your money.
Raser Technologies
Obama gifted Raser Technologies 33 million of your taxpayer dollars in the form of a grant to build a power plant in Beaver Creek, Utah. Raser Technologies took your money, spent it, and is now hiding behind the protective walls of bankruptcy. Obama's investment in Raser Technologies netted America less than 10 jobs and Raser owing $1.5 million in back taxes.
Nevada Geothermal Power:
The Obama administration has given Nevada Geothermal Power $145 million in taxpayer loan guarantees and grants. More recently the New York Times has reported that Nevada Geothermal Power is a company in “financial turmoil." Nevada Geothermal’s own auditor said that he has “significant doubt about the company’s ability to continue as a going concern.” The American taxpayer should have Obama's ability to handle their money as a "going concern."
First Solar:
Obama handed First Solar more than $3 billion in questionable loan guarantees for power plants in Arizona and California. Now the company is burning through $401 million to restructure after canning 30% of its workforce. Obama should have bought Apple stock instead.
Beacon Power
Before Obama gave Beacon Power a $43 million loan guarantee, Standard and Poor's gave Beacon Power a CCC-plus rating. This isn't just throwing good money after bad, it's throwing money away. If anyone has a bridge in Brooklyn for sale, you just found a buyer and his name is Obama. Beacon Power has since been kicked off the Nasdaq and has filed for bankruptcy. Oops, he messed up again.
Abound Solar landed a $400 million loan guarantee to build photovoltaic panel factories but as of February the company halted production and laid off 180 employees.
SunPower received a $1.2 billion loan guarantee now it is a worthless company.
Brightsource was handed a $1.6 billion loan guarantee and let still managed to posted net losses of $177 million.
Solyndra went bankrupt not withstanding the $535 million in taxpayer-funded loan guarantees it received.
ECOtality
Obama handed ECOtality $100 million back in 2009 to help sales of the Volt and other electric cars by installing over 12,000 electric car chargers in five states. Then in 2010 Obama touted ECOtality as an example of a stimulus success story during his State of the Union address. Since then ECOtality has accrued $45 million in losses and does not expect to, "achieve or sustain profitability on a quarterly or annual basis in the future.” Oh and it gets worse, ECOtality is also under investigation for insider trading. And that folks is another swing and a miss for Team Obama. ...
OMG how can this be? Obama, the genius he is, screwing the pooch with OUR money. This is not all...there are still more. But no need to show 4 aces yet ;)
Obama already saved a depression that was created by years and years of wasteful republican deficit spending. He pulled the country out of recession. What is lingering today is the economic malaise left by the republican profligate war spending and meaningless tax cuts and federal printing presses.
Vote Republican if you want to wage meaningless wars, give trillions of tax cuts for the mega rich, kill energy independence and kill middle class dream.
You simply cannot keep political promises when your opponents act as unhonorably as the GOP has. Obama is on a more correct path than any republican has shown. Nothing more...nothing less. The middle class will continue to pay regardless. Always have... always will. I personaly,as an independent, am ashamed of the new degree of dysfunction brought to congress by the republicans. I lay the blame with BOTH parties of course for bringing us where we find ourselves. Takes two to tango. Our best bet for our childrens future is Obama for 4 more years with an honorable congress and supreme court. We currently have neither. Vote!
I can see just how much people will believe anything they hear without doing their own research. I've read just about everything people have said concerning the President and Romney and still those on the far left and right still don't get it in my opinion. I love the fact that people are willing to go all out for who they feel will lead the country in the right direction. What I can't stand is those that feel the need to be disrespectful to both candidates using language that's not necessary in my view. Aside from that, here's what I can tell between the two.
I honestly can't not vote for someone that simply talks words with no substance. I have watched Romney closely this weekend and continue to shake my head as to why he continues to surround himself with people that are so far to the right(or even off the map) it's sickening. To me he clearly doesn't have his own voice, He's not running his own campaign and he's allowing himself to be "told" what to say and "how" to say it. THEN was even surprised how he kept his appearance to Solyndra a secret until the last possible minute to limit press and the public from showing up. So my question is simply how can you vote for someone that is CLEARLY trying to run a closed campaign? He doesn't want the media to know where he is unless it's "his" media, He doesn't want to answer any questions from anyone and he continues to stick to talking points rather than offer any ideas or substance to the people he is trying to reach and THIS is a guy you want to vote for? The republican base is still not sold on him. They still don't like him and with good reason. All he has done since 2000 is run for president, spending as much money as possible in order to get his name on the ticket and this doesn't bother any "loyal" republicans? He doesn't know if he wants to be a conservative or progressive. Why not? Aside from Solyndra, What are his other failures? They say the economy but don't site specifics. People talk about promises that the president has broken but what they fail(or forget) to realize is that the President was dealing with a congress hell bent on not letting any of his policies pass. That goes for Dems and Repubs.
As for the President, first off I have to commend him for doing the best he could with the "help" he had in congress. He's had some good ideas and unfortunately that's all they have been. He has hurt himself trying to "accommodate" the republicans who have done everything in their power to make his presidency a nightmare and sadly it is working. I firmly believe that if he had been more stern and aggressive with them, this country would be in a better position than it is now. For all of his accomplishments, he is being painted into a corner and for the life of me is not trying to "own" them. This in my opinion is making him look "weak" and lacking in leadership which is why a lotof people are not and enthusiastic as in 2008. I still believe in the end he will win the election but he has a lot of "owning" up to do.
If he "owns" the economy and continues to make the case that because of his policies, the economy is getting better slowly, this will kill all of Romney's thunder and render him mute. It will also show, in my opinion, the country that his is a leader with the balls to confront and lead the country against all those that continue to try and drive the country in the ground.
True Patriot...."Tell us all about the things Romney has done that makes him a better choice than President Obama? Puleeze, as Romney's record continues to be exposed, more and more voters will reject him."
Exactly. The GOP should have used the Dems strategy and ran someone who never did anything, so there is nothing to criticize. That's not entirely fair. Obama did vote a lot, even if he only voted "Present".
Witchking,
Great post. What a nice bunch of buddies Romney has. Obviously they all have our interests at heart.
The election is getting closer. That's why the information sources are working overtime weighing payouts from each side as to which economic picture they will portray.
I was thinking the same thing.
The only winners after Citizen United are the media outlets. Who did you think was going to get all that money.
The picture shows that Obama has no clue about economics ....
Romney is hiring the same failed advisors Bush owned......crashing the economy was so good under Bush for Romney and the top1%, Romney wants to do the same thing all over again. Flip Flop, Mitt flop with no plan yet. Just like the repubs only thing they want are more tax breaks for the rich, and they want you to pay their share of the taxes they should be paying. Romney knows how to make money...for himself.
PRESIDENT OBAMA/BIDEN 2012
Obama Economics
This is what happens when Obama invests your money.
Raser Technologies
Obama gifted Raser Technologies 33 million of your taxpayer dollars in the form of a grant to build a power plant in Beaver Creek, Utah. Raser Technologies took your money, spent it, and is now hiding behind the protective walls of bankruptcy. Obama's investment in Raser Technologies netted America less than 10 jobs and Raser owing $1.5 million in back taxes.
Nevada Geothermal Power:
The Obama administration has given Nevada Geothermal Power $145 million in taxpayer loan guarantees and grants. More recently the New York Times has reported that Nevada Geothermal Power is a company in “financial turmoil." Nevada Geothermal’s own auditor said that he has “significant doubt about the company’s ability to continue as a going concern.” The American taxpayer should have Obama's ability to handle their money as a "going concern."
First Solar:
Obama handed First Solar more than $3 billion in questionable loan guarantees for power plants in Arizona and California. Now the company is burning through $401 million to restructure after canning 30% of its workforce. Obama should have bought Apple stock instead.
Beacon Power
Before Obama gave Beacon Power a $43 million loan guarantee, Standard and Poor's gave Beacon Power a CCC-plus rating. This isn't just throwing good money after bad, it's throwing money away. If anyone has a bridge in Brooklyn for sale, you just found a buyer and his name is Obama. Beacon Power has since been kicked off the Nasdaq and has filed for bankruptcy. Oops, he messed up again.
Abound Solar landed a $400 million loan guarantee to build photovoltaic panel factories but as of February the company halted production and laid off 180 employees.
SunPower received a $1.2 billion loan guarantee now it is a worthless company.
Brightsource was handed a $1.6 billion loan guarantee and let still managed to posted net losses of $177 million.
Solyndra went bankrupt not withstanding the $535 million in taxpayer-funded loan guarantees it received.
ECOtality
Obama handed ECOtality $100 million back in 2009 to help sales of the Volt and other electric cars by installing over 12,000 electric car chargers in five states. Then in 2010 Obama touted ECOtality as an example of a stimulus success story during his State of the Union address. Since then ECOtality has accrued $45 million in losses and does not expect to, "achieve or sustain profitability on a quarterly or annual basis in the future.” Oh and it gets worse, ECOtality is also under investigation for insider trading. And that folks is another swing and a miss for Team Obama. ...
OMG how can this be? Obama, the genius he is, shaggin the pooch with OUR money. This is not all...there are still more failures. But no need to show 4 aces yet ;)
Obama already saved a depression that was created by years and years of wasteful republican deficit spending. He pulled the country out of recession. What is lingering today is the economic malaise left by the republican profligate war spending and meaningless tax cuts and federal printing presses.
Vote Republican if you want to wage meaningless wars, give trillions of tax cuts for the mega rich, kill energy independence and kill middle class dream.
Obama has also increased the national debt by 60%. He has spent more money in 31/2 years than every president before him, COMBINED!
Obama has added to the federal payrole. His policies have caused uncertainty and turmoil in the economy. His health care has already caused a 5% rise in premiums. What good is a mandate that makes you buy insurance that costs $2000.00 a month for a family of 4, if you make $3000.00 a month?
Wonder how many part time burger flippin' jobs we'll see Friday? You know 80% will be. And wonder how many people left the work force because their benefits ran out, or they got just too sick of looking. Probably at least a half a million, but of course we won't be told the truth...
That's a lie. Obama ran record $1.3 trillion deficits, Bush was a cheap skate by comparison. Bush's TARP pulled the country out of a recession that the democrat congress created. They inherited 4.6% unemployment and a booming economy when they took over congress.
Bush tax cuts increased revenue, check the IRS site.
Under Obama the rich have only gotten richer and the poor have only gotten poorer. It is Obama that has given billions of taxpayer dollars to his donors companies. It is Obama that bailed out his friends on wall street. It is Obama that is killing energy independence by killing oil production on federal lands, killing the pipeline, and slapping China with a 30% tariff on solar panels. Obama has decimated the middle class with his Marxist war on capitalism.
What glaring deception.
If not for the "robust" GOP cash giveaways to the wealthy and the party's greedy war hawks, America would not have plunged into an economic mess. A return of deluging cash on the 1%, outsourcing American jobs, bestowing huge tax breaks on highly profitable corporations and robbing the middle class and the poor so that the wealthy can stay submerged in financial paradise - is not the answer to this country's financial doldrums. "Those that forget history are bound to repeat history."
Obama/Biden 2012!
I can see just how much people will believe anything they hear without doing their own research. I've read just about everything people have said concerning the President and Romney and still those on the far left and right still don't get it in my opinion. I love the fact that people are willing to go all out for who they feel will lead the country in the right direction. What I can't stand is those that feel the need to be disrespectful to both candidates using language that's not necessary in my view. Aside from that, here's what I can tell between the two.
I honestly can't not vote for someone that simply talks words with no substance. I have watched Romney closely this weekend and continue to shake my head as to why he continues to surround himself with people that are so far to the right(or even off the map) it's sickening. To me he clearly doesn't have his own voice, He's not running his own campaign and he's allowing himself to be "told" what to say and "how" to say it. THEN was even surprised how he kept his appearance to Solyndra a secret until the last possible minute to limit press and the public from showing up. So my question is simply how can you vote for someone that is CLEARLY trying to run a closed campaign? He doesn't want the media to know where he is unless it's "his" media, He doesn't want to answer any questions from anyone and he continues to stick to talking points rather than offer any ideas or substance to the people he is trying to reach and THIS is a guy you want to vote for? The republican base is still not sold on him. They still don't like him and with good reason. All he has done since 2000 is run for president, spending as much money as possible in order to get his name on the ticket and this doesn't bother any "loyal" republicans? He doesn't know if he wants to be a conservative or progressive. Why not? Aside from Solyndra, What are his other failures? They say the economy but don't site specifics. People talk about promises that the president has broken but what they fail(or forget) to realize is that the President was dealing with a congress hell bent on not letting any of his policies pass. That goes for Dems and Repubs.
As for the President, first off I have to commend him for doing the best he could with the "help" he had in congress. He's had some good ideas and unfortunately that's all they have been. He has hurt himself trying to "accommodate" the republicans who have done everything in their power to make his presidency a nightmare and sadly it is working. I firmly believe that if he had been more stern and aggressive with them, this country would be in a better position than it is now. For all of his accomplishments, he is being painted into a corner and for the life of me is not trying to "own" them. This in my opinion is making him look "weak" and lacking in leadership which is why a lotof people are not and enthusiastic as in 2008. I still believe in the end he will win the election but he has a lot of "owning" up to do.
If he "owns" the economy and continues to make the case that because of his policies, the economy is getting better slowly, this will kill all of Romney's thunder and render him mute. It will also show, in my opinion, the country that his is a leader with the balls to confront and lead the country against all those that continue to try and drive the country in the ground.
PJ,isnt that the dems?
He shouldn't have invested in green energy, Obama should have gone down the same old, same old fossil fuel course until we are backed into a corner with $6.00 a gallon gas, and then the U.S is forced to take an alternative path. You can frack and drill only so long. This economy will turn somewhere around 2014, it doesn't matter if Big Bird is in office, due to The Great Bush Depression.
Forget it. We are not buying that excuse anymore.
Paul,
After almost 4 years Obama now owns this economy which started it's severe downturn in 2008, one year after democrats took control of the purse strings and both houses of congress.
PJ,
Bush 5 trillion over 8 years in new debt, including two unfunded wars and an unfunded entitlement program (Medicare Part D). Obama, 5.7 trillion in less than 4 years and rising. Who is running up huge deficit spending? Get your head out and see the facts.
common sense,
Obama may have tried to accommodate the republicans, but his keepers, Pelosi and Reid have done their best to screw everyone but themselves! The only way government works is through Bi-Partisan cooperation. Where Obama has seriously failed is in not reigning in the fanatical left enough so that compromises can be made. In 40 years of following politics, I have never seen the nation so polarized to extreme right and extreme left as it is now! That is Obama's fault. He can't lead his own party let alone this nation.
Scotus said " Corporation is People",the Idea is to screw-up the Middle-Class.This what has followed GOP.
In general, public debt is needed to store the private sector's financial wealth. If the public sector holds net debt, it also means that the *financial* wealth of the private sector is positive. In other words, you can't have the public and private sector with net savings simultaneously. That is arithmetically impossible.
Most of these public funds come from the 401K,SS ,etc are being invested in Government Bond Securities,Since with GOP no regulations, these Securities are invested in private sector's financial wealth.
If the Market fails,the Public fails,but these people still with generous big pay & bonuses,while the public has to suffers twice ,as it has another obligation to bailout these fails venture,If not the country down the drain.
Simple as that, when we win, you still remain same as plan, when we lose, we still with big pay & bonuses,you lose and you lose again.
Dick Cheney and Karl Rove, once two of the most powerful men in this country, are now suffering from Balzheimer's disease.Its now spreading to all GOPers, Why didn't I see it before?
Balzheimer's is a terrible illness that attacks the memory and gives its victims the balls to attack others for things they themselves made a career of,out of Balzheimer's disease. The best part,there is no known cure.
Archangel,
How soon we forget what really happen. You make the assumption that Pelosi and Reid were screwing everyone but themselves when they "reluctantly" went along with the president AND get the party in line somewhat to help push the Bi-partisan efforts of the President's through their party. Let's be frank, They didn't like a lot of the deals the president agreed with because they felt he gave away too much to the Republicans(debt limit, tax cuts, affordable health care act, etc.) and didn't "man" up so to speak on getting his ideas added as well. You also forget that Every time, The president and Behoner agreed on policy, the republicans wouldn't go along with it thus causing Behoner to "lie" and say that no deal was reached. It was he and Mitch McConnell that couldn't control the Tea Party backed representatives in the party and get them to buy into anything. It was Mitch McConnell that stated on the Senate floor that their main objective was to make Obama a one term President but you sit here and "fix" you mouth and say that it was the democrats that couldn't compromise?
I will give you that for the last year being that the Dems have decided to stand their ground and not "give in" as they did the first two years of Obama's presidency but remember, it was the republicans who did it first and STILL are. And you are right that none of this is helping the country at all but how can you blame Obama for the republicans willful and publicized defiance?
@archangel - the difference is the quality of spending. Bush wasted the money on wars and tax cuts for mega rich. Obama spent the money in stabilizing and recovering the economy.
Harley Chic
"Obama Economics
This is what happens when Obama invests your money."
Harley Chic,
Why don't you tell the truth but nothing but the truth?
"This is what happens when Bush invests your money"
The budget that is being debated so heavily in Congress and the Senate is "only" $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill.
In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.
G.W.Bush $16,000,000,000,000.00 Contract had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010.
The Federal Reserve had secretly bailed out many of the world's banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest.
Why must you mentioned the only not even a billion Green-Earth projects?
Must I SPELL OUT in details to you where this 16 trillion went?
I must had forgotten that all GOPers have Balzheimer's disease.
Whats really telling about the November elections is in this very MSNBC post! At this time, the initial posts praising Obama have been 'arrowed up' between 2-4 times; the posts slamming Obama as a poor, if not failing, president have been 'arrowed up' 15-20 times. I think Obama needs to spin some better lies quick; his excuses appear to not be working!!
It's been a tough slog for President Obama. This has not been the typical recession of the past.
The inherited pressures on this economy were and are compounded by the failed trickle-down theory of economics put forth by the previous administration. Plus you have the incredibly draining and unjustifiable costs of TWO (now one) wars, plus the collapse of not just the housing, mortgage and financial industries but also with the steady down-turn in the World economy.
Add to that a non functioning Congress with Republicans openly and vocally pronouncing that they'll do whatever it takes to make Obama a one term president regardless of the collateral damage inflicted by them to our fragile economy.
Despite all these influences, obstacles and partisan roadblocks this country is still making gains, albeit slow ones.
I, as a moderate, am quite willing to go another 4 years with President Obama. The alternative is not only an upheaval and disruption of the positive processes now in motion and evident, but also a mediocre, regressive and highly partisan republican administration bent on undoing rather than building upon.
This is not the election to slingshot back to the discredited fiscal and economic practices and imposed social "morals" of the Right and uber-Right.
Actually, no election should be. We should hold steady and be patient (not something we Americans are good at) with this Administration.
Unhappy-1583758
It's not an excuse. It's a resume...
Valhalla Phil I have to address your post because it is so full of misinformation that it pains me that someone would write such thing.
Bush kept the two wars off the books. Obama put them on the books. Bush finished of the Social Security fund to hide his real spending. Obama has nothing to rob to hide his real spending.
First, Bush's TART could have been better had he not given out blank checks with no strings attached. Bush's bailout made a nice bonus for the bank executives.
Second, how did the dem Congress create recession???
Please, Bush inherited 4% unemployment and left with the office when it was noisediving like a parachuter with no parachute.
Yes, but every economists, including Nobel Prize economists, told Bush that tax cuts + wars = financial suicide. Bush knew better and voila....
BTW, if the revenues were so big, why did Bush borrow...borrow...borrow? He should have been rolling in cash since the revenue increased?Why do we have such huge interest on the Bush mortgage today?
no this has been going on for 30 years but the biggest increase has been since 2000.
hmmm, did he write them personal checks????
Oil supply is up while the demand is down, corporate profit is up - record profits actually. And thanks to Obama, Middle Class is paying less in taxes than before.
@25Walker
Apparently America had forgotten Carter and elected Obama. Great point.
Not anymore. Despite dropping those that have expended their unemployment benefits the job market resulted in the number now being 8.2%.
There is some of that CHANGE that o'bummer promised.
Obama can do no wrong as long as his supporters can keep coming up with excuses. Even if it is the same old lame excuse it seems to satisfy Obama supporters. No big boy pants in the White House, just finger pointing and blame. Yes we can has been replaced by why we couldn't. If Obama had a record to run on, he would. But 3.5 years of record deficits and failed economic policies has Obama running scared. So Obama is going negative with his campaign. Is it really possible for Obama to get more negative then the past 3.5 years of hatred, division, blame, and complaining this country has endured?
Here you go. Proof that big media is owned by big business. If the media was liberal they would be trumpeting the things Obama has done. Instead we get this nonsense. Oh yes, I believe that voting the idiot Republicans, who incidentally got us into this mess with their policies back into office is the solution, because I'm just that dumb. I'm so dumb I think the world economy can be fixed and back to humming in 3 years. Yuppers. Go ahead, MSNBC, pump more big business propaganda down the throat of the American people.
Keep this up and the water your rich corporate masters are walking on is going to be a dry river bed. The economy cannot hum without the people.
What a bunch of morons.
You can tell the people on in here was drinks FIX NEWS KoolAid of LIES.
Using the same terms they use:
Obama invested in all those energy companies and they failed. But guess what bush is the one who signed off on their loans - Jack Butts.
Obama got us into more debt. How about bush gave the rich two tax cuts in 2001 & 2003 in the middle of a war. That cost the revenue drain by 4 Trillion dollars. Now go fact check that or just regurgitate FIX NEWS propaganda LIES.
1.) The rich have won and fooled 3/4 of this country into thinking we should give more to the rich, make a law to tell women have more babies, kill the middle class, kill the unions, deregulate everything, end public school, let corporation and billionaires buy the elections, let the corporations run the country = Fascism, let the church into state affairs, kill the HCA, social security, medicare, medicaid, unemployment insurance, housing assistance, pell grants, student loans and just no government at all just corporations. And I'm sure they will say this is in line with the constitution.
If you vote to let this happen, blame yourself for not looking for facts and taking the repuks at there word. Just like they said they will get JOBS, JOBS, JOBS in 2010. Where are the F-N JOBS?.
They LIED and will continue to LIE.
I think the corporation already own dumb people which is the reason they want to make more people stupid by taking away public education.
VOTE REPUK IF YOU HATE PRESIDENT OBAMA
By the way hating someone just because you hate the color of his skin is racist.
There are no facts in statement 1 that President Obama wants to do any of those things.
I will vote Republican because I dislike Obama's policies.
I'd love to shoot some hoops with him but I am not into smoking and dope or snorting coke with him. He seems like a nice guy, but he has no understanding of business. He seems keen on wrecking the America I like just fine - you know the capitalist one.
Now if you think I dislike him because he is half white or half black then you are the one who is racist.
If you agree with Obama you are not a racist.
If you disagree with Obama you are a racist. Is that your theory, Solutions539? Do you realize how ignorant you sound with that argument?
I disagree with my father all the time, that does not mean I am racist toward him (duh). Same with my wife, children, mother, etc. It just means I disagree with him.
I will state it another way. I disagree with Sharia law within some sects of the Muslim faith. I do not hate Muslims as a result. I disagree with some aspects of Catholicism, but that does not mean I hate Catholics as a result.
You need to grow up Solutions539.
Liberals can spin it however they like, but here is the bottom line
There are 5 MILLION fewer net jobs than when Obama took office because those jobs are gone due to the lack of any meaningful recovery.
In fact, had the current recovery kept pace with just the average recovery over the past 60 years, there would be 6.5 million more people with jobs today
http://news.investors.com/article/613025/201205300911/obama-recovery-much-worse-than-average.htm
The unemplyment numbers are pure BS. 8.2% of a pie 5 million jobs smaller is not really 8.2%. The number of people in this country keeps rising, do the math.
Old man: You are a fool if you actually belive this (which you wrote):
"He (Obama) has spent more money in 3 1/2 years than every president before him, COMBINED!" Where do you get this stuff?... Hannity? Bush the lesser alone has beat Obama in spending, never mind Reagan and Bush the greater, and that's just in my lifetime.
Vahalla Phil - I'd call you on your nonsense also, but it seems Ballie has already set you straight.
@ Rational AmeriCAN,
I understand you premise and respect your opinion but I have to ask a question: Do you feel comfortable voting for a "YES MAN" simply because he is not Obama? Do you weigh the pro's and con's before you make a decision or just go with the alternative simply because you don't like the other guys policies? Not trying to change your mind but rather understand the mindset. I personally as an independent, who feels like Obama has been weak in getting his agenda done because he has "appeased" the republicans for far too long has still, for lack of cooperation, got this economy back on track although it is anemic. He has done the best he could given all the obstacles from both his party and republicans to get things moving in the right direction.
I would be inclined to vote for Romney but I just simply can't as he has a lot to hide and it If you are going to go through great lengths to hide your past and sidestep valid questions for the position you are running for, that speaks volumes to me and goes toward his character. Again just my opinion.
You can say anything you want, but the fact remains Obama has spent more in 3.5 years than Bush spent in 8 and you dont even have to adjust for inflation.
I have been noticing since December, those corporations and industries opposed to Obama squeezing on the economic brakes in order to influence the elections out come in November. Add to that, those states with Republican Governors laying off like a going out of business sale. It beyond obvious the card they are playing, and I hope the majority see through this crap! Do we let the corporations steal from us as they did for a generation, or do we change it in favor of REAL people, and the 99%?
Would you say the democratic supporters were doing the same thing leading up to the 08 election?
I seem to remember as soon as 0bama won the election the headlines started looking rather rosy.
And yes the republican governors are laying off public employees aka leaches that produce nothing but require the work of others to get their government paycheck.
The republican plan was always to try and stall the economy by cutting spending. The problem is, for republican governors now they are at risk because their state economies are crumbling as a result of the spending cuts.
So what is California excuse?
If you look at Governor Brown versus the Schwarzenegger, things are getting better.
It's always been the case that Republicans break things and Democrats fix them.
They elected the "Terminator" and a liberal Boob afterwards........Neither have worked and they cannot adjust their lifestyle and support illegal Mexicans.
Eric - an economy of government spending IS NOT an economy. 2 types of people- 1 who thinks government is the answer to the problem. the other is that government Is the problem.
thotas, California has proposition 13 which passed in the 1980s. What it does is keep tax revenues at 1980s level while the costs of everything go up and up. Also for Bush's little wars the CA National Guard supplied tons of equipment that the state has not been reimbursed for. Governor Brown has called for cuts accross the board but also has said that without revenue increases the cuts are going to be brutal. Those hurting most from the cuts will be our children.
Russ, those Republican states gave tax rebates and cut red tape for those businesses to get started or expand. Business ALWAYS goes to where the conditions are most favorable for them to survive and profit long term.
That is why Texas has consistently increased in available jobs. Businesses can thrive there. Ohio became the 5 highest in new jobs last month. Why? Tax cuts, tax abaitment, helping cut development red tape. Basically most of what the democrats installed the previous 4 years.
Wisconsin has seen the first growth in jobs in 3 - 4 years. Why? Tax cuts, regulatory relief, tax abatement.
Adler
The freeze installed by the citizens of California was a freeze in rates. As incomes increase they automatically get more money. As more jobs are created they also increases revenue. The combined increase in Wages and increase in jobs easily exceeds the rate at which the population is increasing. Put simply, California has a spending problem, not a revenue problem, just like the US Federal government.
Federal outlays have averagde 7.5% more revenue each year, but the big spending politicians set outlays to increase 8.0 - 9.0%. That is called a spending problem, not a revenue problem.
Republicans - high unemployment?? Where's Romney's plan? Don't like the new healthcare plan?? What is Romney's plan?? Foreign affairs - Oh God help us! Get the GOP the hell out of the decision process - or should I say the LACK OF decisions!
Independent and voting for Obama!
Eric,
Arnie is a RINO and things are not getting better.
In 2009 we had tax increases and they did nothing to help. All it did was left them wanting more.
deborah, do you even read what you type? The GOP hasn't been making the decisions for almost 6 years...where's the country? in the crapper. democrat mantra....rule it or destroy it.
Eric, Rep govenor states are not crumbling. Look at side by side comparison of Indiana and IL. Il had huge tax increases to fix their huge deficit, only to find a year later it didn't work and the deficits are now bigger. IN next door took the opposite approach and is doing quite well. I live in IN and have seen several news pieces on people and businesses leaving IL because it is a train wreck in slow motion.
Walker has unemployment under 8% in Wisconsin. New teachers hired, closing the 3+Billion deficit he got.
Niki Haley has dropped her state unemployment 2% and is getting lots of new business.
Texas is creating tons of jobs.
Christie is turning around a HUGE mess in Jersey.
The California success you claim went from a 4 billion deficit to an estimated 16Billion deficit. That's what you want?
Walkers destroyed Wisc economy and everyone knows he has been losing more and more jobs despite his false campaign ads paid for by outsiders. Walker is under investigation and transfered over a $100,000 to his defense fund legal bills. Governor CROOK
Texas has nothing but low paying jobs that people cannot make a normal living on.
eric Do you call awarding a 7.2 billion dollar contract to chinese contractors and giving 3000 construction jobs to chinese workers working in the US, Things getting better in Cailfornia.
Vote for Obama in 2012 if you want to see the government check, vot for Romney if you want to see the government out of your pocketbook. The democrats are the party of government subsidy. Obama is now known as the Foodstamp King. a new reality show is planned for HBO that will be hosted by Bill Maher, it will be called 2012 the year the Jeffersons got Evicted.....
If you think there is a real difference between republicans and democrats, open your eyes. They are two sides of the same coin. No matter what side lands up we lose.
Else than raise the debt? Our country is on life support with money printing and loans.None of the numbers shown are right,unemployment is really over 20%. Were in a depression.
Romneys voting record is like Obamas. Ron Paul is the only one talking sense,willing to tackle the debt,cut agencys and end wars and shutdown overseas bases,if your anti war he is the man(only vet,and most supported by the military)
If you love your country,vote for Ron Paul or write him in. And i dont see anything crazy about him.
Mabe his love of country and freedom is a bit weird for some.
@Eric913730, Dems always fix things?, I guess that is why Obama's in a tight race with a relatively weak opponent. Rather curious as to why this is since the economy is nice and fixed.
He has Hollywood in his pocket, talk about the 1%!, and the wind of the liberal media at his back yet in a close race. The self-admitted Kenyan is in trouble. And as for weather or not he was born in Kenya he portrayed himself as such. And at the very least he is either Kenyan or a liar about being one. Either way, not a good look for a President.
so what im reading is this, 'obama is proud fo racial backround and i see it as bad. obama is weak because romney is weak. obama is in with hollywood because he needs to raise money without relying on massive GOP superpacks to fund him.'
so yeah, personally id rather have a president that is proud of his racial back and one that can make decisions without having to be spoonfed his responses or relying on bold lies to be even in a race. you know like romney has been caught doing for his entire campaign, primary included.
get over your precieved racism and do some fact checking like an educated person, basically stop assuming FOX isn't lying to you. assume ALL media is lying to you until you know they arent.
Unusual, does the teleprompter count in this discussion? Yeah, that would qualify as "spoon fed". :-)
Wow, some of the economic wizardry in many of these posts is really astounding. As if cutting spending on a bloated government bureaucracy is the reason the economy stalls. Government does not create revenue, it wastes it. Driving this country further into debt by printing, borrowing, and spending devalues the dollar and we will pay a heavy price in the very near future.
This country needs jobs, and not public sector. We need revenue generating tax base increasing jobs that are only going to come from the private sector. We lost millions of jobs when Bill Clinton signed NAFTA into law that have never been replaced. This is an expensive place to do business and it is time for Washington to quit playing games and create a business friendly environment in this country.
The path this nation is on is a joke. Piling mountains of debt on future generations that will have nothing to show for this irresponsible behavior. Obama doesn't have a clue what to do to help this country, anymore then the idiots he hired. This country is being bound and restrained from achieving, and all we get from Washington is smoke and mirrors.
Yes all those tech jobs in Austin and oil, cattle, and manufacturing jobs all over the state are all minimum wage. Who knew?
Then explain why the 10 poorest cities have been run by all democrats for decades, some over a century.
Ok drones, watch me pull a rabbit out of my a$$, presto change-o......... wait, it was really supposed to work this time.
LMAO....... hahahahaha - DOH!!!!!
Good description of the Romney campaigns over the last decade.
No doubt Obama lickspittles MSNBC will do all you can to skew the numbers in his favor. News, no. Propaganda, yes.
Yes, and your boys over there at FOX are busy spinning them the other way.
The only disadvantage you have, is there are real economic figures like the GDP.
By the way, it's grown each and every quarter since Obama was sworn in, despite total obstruction on the part of the Republican party.
You would blame Bush also I guess .... "LOL"
Why in the world would anyone blame poor lil' old Bush? He took us from a very comfortable place high up the ladder in 2000 and left us in a hole so deep (8 short yrs. later) that we could no longer even see the ladder. We threw his party out on their butts and hired the other party to dig us out of the hole.
Funny thing about holes. The deeper the hole, the more difficult and time-consuming our efforts must be just to reach the surface once more. The new crew has worked laboriously to do just that as the old crew has done nothing but throw rocks at them and grasp at their heals to drag us back down. Despite the best efforts of sabotage by the old crew, the new crew has brought us back into the light and even managed to climb a few rungs up the ladder. We are clearly well on our way up.
The old crew now seeks control of the ladder once more. They try to shame us for remembering it was THEIR fearless leader that bought us such misery in the first place. They promise rainbows of prosperity by using the very same failed methods that caused our great despair. They believe us to be fools. Election 2012 is the time to kick dirt in their faces and bury them in the very holes they keep digging for the rest of us.
The majority of all Americans blame Bush and cronies...it is reality!
Our debt has slowly gone up sense 1972,how about blaming congress?heck with no term limits some have been there like forever.
Vote Ron Paul!
How long do we have to wait for trickle down economics to take place?????? It's been 12 years and we're still waiting. The only thing that has happen is that businesses have sent jobs overseas for better profits due to low wage payouts. Banks got passes on risky loans to those they knew couldn't afford them for the purpose of making money. Wages for low and middle class stagnated while the the rich got richer. And this is what we want to go back to? Really????
To me it's simple, If you lost your job due to the recession and it was sent overseas, and you are employed now based on the current economy, why would you want to risk losing your job again by going back to the same policies as before?
Certainly you remember the Clinton recession that Bush brought us out of in spite of 911. Certainly you remember that Bush tried to fix Fannie Mae and Freddie Mac before the housing bust (but was stopped by the Dems). Certainly you remember that following his tax cuts the Treasury recorded the highest intake of revenues it has ever seen. Certainly you remember that it was not until the democrats took over congress that the economy started to falter (helped by the press, Hillary, and Obama trying to stoke up campaign issues). Certainly you remember that the deficit ballooned in the last two years of Bush's presidency with the dems controlling the purse.
Libs are a joke - they try to make the case that Romney wants to revert back to "failed" policies while they have the way "forward". Really? When has tax and spend NOT been the liberal mantra - talk about tired old same old, same old. How many times does Keynesian economics have to be proven wrong before you start to get it? I guess as long as you keep getting your handout, you don't care who has to pay for it or how much damage it does.
You must be "Nut "to expects middle -Class to believes in a republican form of government with a cleverly constructed constitution which would deny the majority of the power to infringe on the rights of a minority of nuts conceived them.
If the majority supported a general strike against rents and mortgages and supported the factory takeovers, would not the clandestinely organized Objectivist Tea- party be tempted to dispense with democracy in order to enforce what they conceived of as the rights of the dispossessed bourgeoisie?
Commonsense,
How long do we have to wait for trickle down economics to take place??????
The effects of trickle down have already taken place. The money trickled down into capital reserves that were then used for corporate takeovers, not for job creation or retooling factories. Just remember the timeline of when the megacorps began to be born. Right after Reagan cut taxes on the wealthy. That is where the money went. Romney made his fortune from trickle down economics. Where is your fortune?
Jack,
Although you appear to be somewhat of a nut, I admire your ability to use the term bourgeoisie correctly.
@ Alsophia theophilos
I haven't gotten it yet. Still waiting on the Corporate raiders to divide it among the working class like it was "designed".
The ultimate question is whether a slowly growing economy that outperforms other industrial nations that are following the challenger's economic proposals will be enough to get re-elected. A rational choice political scientist would say it should be, but as the people who think that teachers and garbagemen and policemen and firemen are leaches represent a large percentage of the voters, it might be a close race.
Congress is the largest leach on the American economy.
Obama's massive debt and deficit makes him the biggest leach now .... "LOL"
Yes Eric and Harry Reid is the biggest blood sucking leech of them all.
Obama has anyone beat as a leach from his debt disaster he's thrown on the backs of every tax payer ....
Agree Eric, goverment(s!) and politicians, 95% - BOTH SIDES.
Goverment doesn't contribute one single red cent to the GDP.......
Time for the American public to put on their "big boy/girl" pants, rein in this out of control spending and clean out DC! Do the research on your Senators and Representatives..........
Hey BigBen: When do you get your government check the 1st or the 3rd of each month? I find it ironic that you bemoan the very government that pays you for doing absolutely nothing other then living in Alaska.
... when the GD garbagemen and the lifegraud make 400% more than the average working man they're leaches, when the same leaches get to retire at 105% of salary plus free healthcare for life they're leaches, when they get to retire after only 25 year while the the rest of us have to work 50 years before retiring they're leeches
When the garbagemen and lifegrauds pay is so bloated that we now have to stuff 50 kids to one class because we can't afford more teachers they're leeches.
When the national debt has doubled ... where the state of California is preparing to file BK because of leeches ... theyre GD LEECHES ... tax the rich ... tax the oil companies
It's interesting that the economic slowdown is being attributed in large part to the drastic cut-backs in government spending -- mostly by state and local governments run by teabaggers. Just like in Europe, where conservatives are tanking the European economy in the name of austerity, except the teabaggers here are a lot crazier than conservatives over there.
Wow, Houston, that's bizzare. You think that the conservatives in Europe are tanking the economy? Have you read ANYTHING about Greece or Spain? Get your head out of that snug little hole you seem to have found it in. It's entitlements that are ruining their economy. And government spending isn't "economic growth." It's just taking my money and giving it to some SEIU employee. It produces squat.
Really how much debt is enough? I see people here knocking the tea party,all i ever got from them was following the constitution and limiting spending.I dont see why all the hate towards them.
Try that never ending spending at your home,(and each month more than the last)tell us how it worked out
Sounds like a pity party and they don't want us naysayers to attend. Works for me.
Houston,
The European country pushing most of the austerity measures, Germany, is in the best financial health of the lot in the E.U. The most socialized of the countries are the ones that are in the worst shape. Watching ones spending is the way to keep out of financial trouble, while spending to excess is a sure way to dig a hole to deep to crawl out of, just ask Greece!
Anyone for a little Wag the Dog?
Why is there no coverage of Axelrod getting booed off the stage in Boston?
That's because it doesn't suit the media Agenda. Sofa king liberal.
Thinking(not) ....repubs setting up busloads of professional protesters and transporting them to Dem rallies. WHILE ROMNEY HID and kept his press conference private with only a few reporters to show his lies. you can run Mitt and YOU CAN HIDE like a coward....where is your plan Mitt? 47th worse state for job creation in Mass. under Mittster the flip flop king!
Were still waiting for the Obama plan,or budget or any dam thing except more debt.
Vote Ron Paul!
Um Thinking Long Term, I saw that on CNN and MSNBC earlier today on Andrea Mitchell show. They showed how Axelrod was thrown off message by the sign waving and chanting Romney supporters. Sorry to ruin you case there. It also showed how Romney waited til the last minute to let reporters know he was speaking at Solyndra to limit reporters and his own supporters from showing up......Anyone else report that?
Yes, it was reported elsewhere .... sorry to burst your little bubble ! Solyndra is but a symbol of Obama's total failure as President. Obama does not understand a Balance Sheet.
Jim-145534,
If it takes one thing to mark a tenure as a total failure then why do we have so many CFO's, Senators, House representatives, Owners, etc that have failed miserably still doing their job? How bout this....Maybe President Obama does understand a balance sheet but due to lack of cooperation from those that make policy (congress) he is unable to achieve that goal. But let's spin it this way for you.
How bout all the failures you have made on your job but you were able to keep it? Does that mean you are a total failure at your job? How bout life in general? How bout thinking about outside the box before you spew your narrow minded opinion.
Ladies and gentlemen, we have to face the facts. The economy is growing, albeit at a slow pace. Why you may ask??? Mainly because the middle class doesn't have the disposable income to spend our economy to health and because the government isn't spending enough money to hire people and stimulate demand. Republicans, whether you like it or not, austerity is what is killing us. Unemployment would be near 7% had the states kept a half-million people instead of firing them. Had Obama's job bill been passed, demand would be up as people would be put to work rebuilding roads, teaching in schools, or serving in local fire and police departments. Face it, America, we have two paths to take. One is a rough road that has some potholes and dings, but leads to a path of prosperity and economic opportunity for all. The other is a road strewn with harsh austerity, useless tax cuts, growing income inequality, and a shrinking middle class. Obama hasn't done all he could to fix the economy, I admit. But he did the best he could, especially with a Republican Party that sought to take him down on Day One. It's either slow and steady growth, or a quick and painful fall that we may never recover from. Either we bite the bullet now and go with the guy who saved our economy, or watch our country burn right before our eyes. You may think what you may, but my support lies in Obama.
OBAMA BIDEN 2012
Goernment doesn't stimulate $h!t except more bloated government spending that we can't afford any more. Geez, when our creditors come calling, are you gonna stand there like somebody getting their car repo'.ed? You know, the deer in the headlight look like you didn't see it coming.
onermailliw-
funny, here you are commenting on the internet a govt invention. Wonder what impact this little givt boobdoogle has contributed to the economy.
Its amazing RepubliCons can make it home from work at night
Do you remember the Great Depression??? Do you know how we got out of it??? SPENDING MONEY. We spent billions of dollars to build weapons of war; to create warplanes, aircraft carriers, battleships, cruisers, tanks, trucks, rifles, ammunition, and helmets, to say the least. Who do you think bought those weapons??? THE GOVERNMENT. One man, you have to realize that government spending for things like roads and bridges GO TO THE PRIVATE SECTOR. You don't see interns and bureaucrats drilling holes in the ground or laying asphalt, do ya??? It's construction workers from a private firm. Those workers then get money to buy products, stimulating demand and increasing employment somewhere. You guys on the right need to take an econ class.
Oh, and by the way, when you are driving home, remember that the roads and highways that you are driving on were made by the GOVERNMENT.
OBAMA BIDEN 2012
Paxil..I thought it was Al Gore that invented the internet.Oh wait...Gore didn't invent the internet, what he really did invent was climate change.
@Freshiee: It is clear that you accept Keynesian theory. But, at no time have our leaders refilled the coffers of the treasury during the "good times". Neither party applies the theory correctly. Democrats "tax and spend" and republicans and democrats "borrow and spend". What is the solution or result when you cannot find lenders for all the debt? I understand that we don't have that problem today. But, the CBO has not painted a pretty picture for the future.
Your cited example of government stimulus shocked me as it shows that you were in favor of FDR's creation of the military industrial complex. The thing about federal government stimulus is that it serves as a "primer" for the private sector and the consumer to spend which, in theory, generates more tax revenue to replenish the initial federal government outlay. Tax cuts, in theory, are suppose to work the same way. The problem with the most recent stimulus is that it was poorly applied. The result is a slow growth economy. It really didn't spark the spending of businesses or consumers.
You have commented that the Bush era tax cuts did not work. To the contrary, businesses invested and grew the economy...overseas. Consumers spent money, the tax base grew. But, government spending continued to grow faster than the revenue flow. Wages remained stagnant. Consumers took on more debt; Businesses remained flush with cash. But, it remains in overseas subsidiaries due to the highest corporate tax rate in the world. Eventually, the unsustainable housing bubble busted and the consumers got slammed by huge losses in equity in their homes and in the stock market. Anytime you have an event that impacts the driving force behind our economy (consumers account for 70% of our economy) the way the housing bubble did, it is going to take a long time until there is a recovery.
In the meantime, deficits continue to rise and the interest on the debt continues to become a larger part of the federal spending pie. It's unsustainable.
The federal government's job is not to create jobs. It is to facilitate, through legislation, an environment for job growth by the private sector. As the economy grows, a government (municipal, county, state) closest to the people they support will provide for the services needed. If that principal was followed, would it be necessary for the federal government to be so large?
I agree that laying off federal workers at this juncture would not be a good idea. But, most states have a balanced budget amendment in their respective constitutions. Therefore, they are faced with two choices: Increase taxes or cut spending. Increasing taxes is taking money away from the consumer and businesses. Since it applies to the 70% driving force of the economy, both parties have only raised taxes reluctantly. It is why the Obama administration extended the Bush tax cuts. But, come January 2013, the Bush era tax cuts will end and we will see if raising taxes is the right solution or will it send our nation back into recession.
Simple Dave....make the top 1% pay their fair share, problem almost solved. Keep the spend and borrow repubs out of congress so the dems can fix the economy again.
I hear tell it that the dems prolnged the depression. So how much debt is enough,when well the country collapse? If anything the dems have held up the stuff in the senate. 16 trillion isnt enough?hey wheres the budget? debt and printing money is whats keeping us on life support.
Push for term limits on congress. Vote for Ron Paul,both Obama and Romney suck!war mongers who are bought and paid for.
Freshieee,
1.5 trillion a year in deficit spending for almost 4 years is austerity? You really need to either go back to school or sue the one that gave you a worthless degree. Not to mention that the federal budget is the largest in terms of percentage of GDP it has ever been without the deficits, let alone with them.
starsailing,
Who do you think pays most of the taxes now? The bottom 50% pay no taxes or receive full refunds, the bottom 5% receive more than the pay in due to EIC. The tax system in place is regressive and needs to change. The top 1% pay the taxes they are legally required to pay as most of their revenues are from capital gains which are taxed much lower than income.
@starsailing: With that comment, you could not have been awake through any economics course. Many people like to point out that during the Eisenhower administration, the top 1% paid a higher tax rate and the economy expanded. But, let's fast forward to 2012...the US economy is not the only game on the globe! The top 1%, in fact, the top 10% invest their money globally. In fact, many of our largest corporations have international subsidiaries that have expanded their operations. In fact, GM produces 70% of their vehicles overseas (unthinkable concept in the 40s and 50s). With so many global alternatives, the top 1% can invest their money wherever the taxes are most favorable, thus legally circumventing tax rates in the US. US corporations have vast amounts of cash on hand. Arguably, the most cash held by businesses in history. Unfortunately, it was generated overseas and to repatriate it would cost them 35% before investment. Corporations exist to benefit the shareholders. Those shareholders are global. Therefore, money can't be invested in the US simply out of a "patriotic" duty.
The only tax cut I would support is to allow corporations with cash overseas to repatriate their cash as long as it created jobs in the US. No other exception.
In the meantime, pick up an economics book. Understand that our government does not follow Keynes theory, supply side or Austrian. There is no discipline or rationale behind the actions of our federal legislatures, the Federal Reserve and the recent presidential administrations.
I know 1 thing, I"m having a party come November election day. Obummer loses, celebration. If Obummer wins, funeral wake. I'm waiting for Obummer's Nixon moment. You know, the one where he is waving at the door of Air Force 1, leaving Washington for the last time.
I agree ! If Obama is defeated, it will lift my spirits and I plan to "lift some spirits" of my own ... will probably take the day off and will try to suppress a big grin from my face !! On second thought, no suppression .... some things in life are cause for celebration !
Is it possible?? Could Obama possibly come to election day with nearly THREE straight
years of economic and job growth??? It is sure looking like it according to non-partison
sources, Even the Democrats are not bragging about this yet,,,,,,Or at least not nearly
as loudly as could be expected. And all we'll hear from Mitt Mormon is how we HAVE to
turn this around??
Not sure about anyone else, But I do not want to go back to LOSING 750,000 jobs per
month and a near total world wide economic collapse brought on by the exact policies
Mitt plans to implement "on day one"
Is that why we have had 5 weeks of increased unenjoyment numbers?
Hey Bo! What are you smoking?
Someone doesn't have a clue that America is in deep trouble from Obamanomics and his debt and deficit ....
Nope, I watch everything except FOX noise, LOL
Then how do you stay blind to Obama's debt disaster ....
Lowest employment participation in 30 years ....
Lowest home ownership in 15 years ....
And on and on ....
Obama has to go ASAP ....
Or right away ....
Simple ....
27 consecutive months of job growth, 36 consecutive months of Us GDP growth. You bet Mitt wants to turn it around. The GOP loves depressions because then all their vulture capitalists friends can swoop in and buy up even more things at pennies on the dollar. This isn't the type of capitalism to build our economy so that is built to last. We want the steady growth that we have been enjoying for the past three and a half years. The GOP has not made one single positive contribution to our Nation in over a decade. Let's see the GOP has done the following but none of which are positive: sued for and "won" the Citizen's United case which is the biggest piece of garbage that our Nation has had to face in a long time, they presided over the Crash of '07 and the failed GOP policies that Mitt wants to take us back to caused the Second Great Depression, they started two unfunded wars based on known lies, turned a budget surplus into a budget deficit, failed to capture or kill Osama Bin Laden, neglected the Nation's infrastructure and fought against rebuilding anything at all, failed to protect the Nation on 9/11. What has the GOP done that is positive for the Nation? Really? Don't just say Obama this and Obama that because that is not an answer. What has the GOP done positive in the past ten years? Name one thing. When the GOP does something positive then they should be permitted back into public office but until that time they should be banned from office because they hate government so much. It would be like putting somebody who hates science and thinks we should not explore outer space in charge of NASA. With friends like the GOP who needs enemies?
Simple answer Bennie.......Bush put the United States in the greatest depression since the greatest depression. The repubs vow to stop all progress in recovery to try and do what you are doing now....but it is not working........repubs mess in the diaper and cry to have the middle class and poor clean up their mess.
It's going to take decades to clean up Obama's mess ....
You DUMBOCRATS have drank the purple kool-aid...you have been SNOWED by big government and Bias, left-wing media as*holes. What in the hell have you been listening to...the country is in the crapper, the deficit is at major proportions and growing every single day that Jokebama stays in office and his supposed bailouts were to every corrupt company who filled his coffers with campaign donations.(See Harley-Chic's post above..Q.UITE insightful) And don't even get me started on his FAILED foreign policy...apologizing to the world for us and as*-kissing the chinese and letting the Taliban and Al-Quaida run rampant in the middle east. All this while the vacationer-in-chief goes golfing or to Martha's Vineyard or on another taxpayer paid- for safari. If Obama Bin Laden had an OUNCE of integrity or credibility, he would have taken responsibility for all his bass-ackwards debacles and not blamed EVERYTHING on Bush. What a cop-out. Well enjoy Obummers 'Magical Misery Tour', because I will laugh as he is flying out of Washington for the LAST time with his over-spending family as they play 'Hail to the CHUMP' when this election is over...
How much are you Obama supporters paid? its either that or your aahhh nuts. He is like George Bush on steroids,everything that sucked about GB,Obama has increased.
Vote or write in Ron Paul if you care about this country and your freedom.
Romney claims to have been a job creator at Bain. His job had nothing to do with creating jobs. He promised to create jobs in Massachusetts if elected governor. The record shows that job growth during his administration was 47th out of the 50 states. Romney is a myth creator, not a job creator. His business was about cutting payroll and, sometimes, looting and closing businesses altogether.
He hasn't stopped lying just because the primaries are over. McCain, Huckabee, Gingrich, Perry, and Santorum pegged him a liar, and they did so from personal experience with Mitt Pinocchio.
And you believed them! Actually, of the bunch, Romney was the most honest. What can we say of Obama and the honesty issue... Hmmm....
Nicely done - you have managed to recite the current liberal anti Romney talking points without stumbling.
Congratulations on not even managing to understand what you said - truly I am impressed...
One sad little round of polite golf clap type applause to get past the awkward moment of you failing to understand what I just said to you.
Have a good night, Affinity
Ok......what do repubs say about Romney?.....oh yeah....Romney is a liar per repub candidates.
And Obama lied more ....
Repubs dont like Romney much because his voting record is about the same,he at least had a job.
During the debates he sounded like a big military guy,ive had enough of being the worlds police.
Ron Paul is the answer,vote or write him in.
Funny that a failed economy for the last 3.5 years isn't enough to convince people that old "Tax and spend" Obummer is a failure. Why would three more months of a crappy economy make any difference at all?
Funny that "Obummer" has not raised any taxes - in fact, he has cut many, for the middle class and small businesses. Funny that "Obummer" has reduced the rate of increase in government spending to the lowest in decades.
Funny that the right, who seem to worship St. Ronald, forget that it wasn't his tax cuts (mostly of benefit to the already wealthy) that caused the economic turn around during his administration, it was his massive government spending on defemse systems. I worked at the time for a major aerospace firm that was chugging along but when Reagan started spending government money on new weapons systems, doubled its employment. It didn't hire more people because the CEO got to keep more of his income - it hired more people to satisfy the demand created by the "evil" government!
If a small business owner is not able to sell his product or service due to a lack of demand (nobody buying), giving him a tax break that allows him to keep more of his income is not going to spur him into hiring other enmployees. That will only happen when the employees he has cannot meet an increase in demand.
I was working for a small business when Bush passed his first round of tax cuts. My take-home pay went up a few bucks - whoopty doo. The owner of the business who raked in a taxable income of around $250K saw a nice increase - but he didn't sacrifice that extra income to hire a new employee (not that it was enough to cover the burdened cost of an additional employee) - he laid people off because concurrent with the tax cuts came a drop in demand for the services we provided. So much for tax cuts creating jobs!
We are currently seeing a slight slowing in the recovery that is a direct result of the drop in government spending forced upon the administration by the Republicans in Congress. The stimulus was not as effective as it could have been because almost a third of it was in tax cuts, which have been shown over and over to have minimal stimulative effect. Had that almost $300B been given to the states to retain public sector workers, instad of as tax cuts, as has been pointed out earlier, the unemployment rate would now be closer to 7%
@usbrit WA: You do know that the claim that the Obama administration has reduced the increase in federal government spending to its lowest levels in decades has been debunked. Even the Washington Post gave it 3 pinocchios. You can't take $787 billion stimulus package that was passed by democrats and applied to the 2009 budget and use that as a base. But, let's play this out a little. If the $787 billion stimulus was a one time expenditure, why have we seen increased spending above the 2009 budget every year since?
Also, a lot of the stimulus money did go to the states to retain public sector workers. However, it was only enough for one year. Short memory?
The only tax cuts that the Obama administration has given was the small reduction in social security payroll tax.
The fact is that if people weren't leaving the workforce in droves, unemployment would still be around 9%.
What part of the failed GOP policies did you particularly enjoy? The 700,000 jobs lost a month? The two unfunded wars based on known lies? The failure of the GOP to capture or kill Osama Bin Laden? The failure of the GOP to protect the Nation on 9/11? The NYSE at 6000 under the failed policies of the GOP? The housing market collapse? The job market collapse? The banking collapse? The Auto industry collapse? The manufacturing sector collapse? Outsourcing of US jobs? You notice how the term outsourcing actually came into the National lexicon under W. Bush and since he left office the term fell out of use.The $4.08/gallon gas? Citizens' United?Which one do you like so much, dipstick? If you can name one positive contribution the GOP has made to the Nation in the past decade then you'll be the first to do it because they have not made one single positive contribution to the Nation in over ten years. It is unbelievable that people still follow them with all their failures. With friends like the GOP who needs enemies? The GOP is always wrecking everything.
Obama keeps things looking good if you just ignore the insane debt or pretend the unemployment isnt crazy.Or those borded up buildings everywhere dont exist.
I see a war with Iran before the elections to take our minds off how screwed up things are.
Vote Ron Paul if you love your country and your freedom.
usbrit,
Funny how numbers can be manipulated. The reason that Obama has lowered the rate of increase in government spending is that in 2008 congress increased government spending dramatically and in 2009 they raised by over 40% more, both years are being attributed to Bush even though the Dems controlled congress and spending. Once the 1.5 trillion in deficits were in place there was no need to increase spending anymore.
There are a number of sneaky little tax increases in Obamacare.
The %AGI floor on medical deductions will be raised from 7.5% to 10%, reducing a potential deduction.
There is a 2.9% medicare tax on stock gains.
There is a potential tax on the sale of your home.
There is a tax on tanning booths (I wonder if that is racially discriminatory)
There is a reduction in the amount an individual can put into a cafeteria plan for reimbursement of qualified medical expenses.
"You'll have to read the bill to see what's in it".
Speaking of Obamacare, it has just come out about the secret meetings with big pharma as they negotiated behind closed doors for support. Thus, competition from Canadian pharma was disallowed. Likewise, the big insurance companies "bought into" the deal so they were guaranteed mandates that everyone must buy insurance. "Transparency" was trampled upon.
The economy just gets sicker and sicker under Obama.
Remember the "Summer of Recovery"?? The "laser focus on jobs"?? Now Obama is just trying the silent treatment. Ignore the problem, and maybe it will just go away. LOL
When will Obama realize that He is the problem. When he makes his long awaited concession speech this November, that will be the signal for all these companies to begin hiring.
Time to ditch this disgusting dog-eater and elect a REAL President.
Mitt Romney 2012, Mitt Romney 2016.
Well said...
the article tries to blame republicans for a slowdown when you factor in unfunded liabilities for the future years for todays bills, the annual deficit rides at 5 trillion per year. HOw many trillions spent per year is enough? I mean, do these dems have any idea when they wake up one morning a year or two from now and the world decides the dollar is no longer safe. You think we have problems now. Just wait. We need to grow jobs through tax, tort reform, free enterprising the medical industry and get our trade agreements functioning. I don't think it will happen but it sure makes you wonder.
Yeah, we need to cut the tax cuts for the wealthy, make our healthcare industry single-payer to make sure that people don't die because they can't pay their bills (thousands have this year alone), and regulating our economy to keep the free market from screwing up like they did last time. And as for the spending, where the hell were you when Bush turned a surplus into a deficit???
OBAMA BIDEN 2012
freshie -
jolly raises a legitimate point, and you respond with a series of democratic/liberal talking points, including the inevitable Blame Bush, as well as with the predictable, and slightly sad, defense of the "Affordable" health care act
Excellent work - with that logic, may I now offer you a job on Obamas re-election campaign, thus assuring, should you accept, Romneys victory in November?
What's your beef with the "Affordable Health Care Act???" It cuts the deficit by $200 billion, insures 30 million people, and is one step forward to even broader healthcare reform. Plus it was an idea forged by the conservative Heritage Foundation in the 1990s???
Nah, I'll pass. But I will come back to celebrate with you when Obama cruises to a close but substantial victory in November. Hope to see you then!!!
OBAMA BIDEN 2012
@Freshiee: The ACA is a colossal failure. It doesn't matter where it originated. But, I will wait until July or earlier to make any comment on it since the US Supreme Court has not ruled yet.
As we have discussed in the past, during the time that the democrats enjoyed the super majority, why wasn't Glass-Steagall re-introduced as legislation? I am sure there were at least 3 or 4 republican senators who would have voted in favor of it. Could it have something to do with the fact that Obama received more money from Wall Street donors than McCain?
Just so you know freshiee, the Federal government has not been out of debt since before the Civil War.On the odd occasion, there have been years where that same government spent less than it taxed, as indeed it did for one year during Mr. Clintons term. That surplus however, was generated by the dotcom boom that was a false progenatior of surplus cash. Its lack of viability was demonstrated early in Bush's administratration, one of the 2 leading forces that he inherited that led to our recent economic downturn. The other factor is the horrific lending practices instituted by Clinton and the democratic congress. Fanny mae and Freddie mac are democratic party anchors that have been tossed in the GOP boat.
Welcome to Jokebama's 'Magical Misery Tour'....
"Obama races the clock with summer economic numbers"
Is this there way of saying they just need to convince America Obama's policies are working "good Enough" so he can get re-elected then after November its o.k. if the Economy goes to Sh|T.
If this is what 3.5 years of Obama and Democrat Policies achieve can we really afford 4 more years?
"Obama races the clock with summer economic numbers"
Maybe BO should have been concerned with the economy a few years ago.
He'll have plenty of vacation time real soon ....
Yeah, when he wins the election and doesn't have to campaign anymore...
Less vacations than Bush; read 'em and weep.
Me thinks you forgot the stimulus package; created and saved between 1.8 million and 3.3 million jobs.
OBAMA BIDEN 2012
You're dreaming ....
No one wants Obama anymore ....
No one ....
Stimulus was money spent on frivolous and money wasting projects to now have the projects completed and the workers are unemployed? MONEY WASTED! What about long term? But the Debt just climbs and climbs, Hey lets print out more stimulus money!
Except roughly 50% of Americans.....
Hmm, so building and rebuilding our nation's crumbling infrastructure is wasteful???? Very funny. ANd how come jobs became added after the stimulus passed??? Got any theories about that???
Oh and by the way, Obama offered to cut the deficit by $4 trillion over the next 12 years, with $3 trillion in cuts and $1 trillion in tax increases. But the GOP said no. So enough with the debt problem. Where were you when Reagan tripled our debt and Bush doubled it????
OBAMA BIDEN 2012
You said roughly 50% ....
Obama only has a 45% approval rating now ....
And that has been steadily dropping .... "LOL"
And some polls show Obama much lower than that ....
He's far from a loved president .... "LOL"
Even you know he really needs to get booted out ....
Where is everyone participating in these POLLS??? I have not been asked to take any poll!! So the numbers are not a true depiction of Americans decisions!! All I get are phone calls to participate in a political survey to get a 2 day cruise,,,,,, I think NOT!!! Someone send me a link so I can get in on these polls!!!
180+ filibusters and counting. The party of obstruction is alive and well. Trump is the spokesperson of the 21th century no nothing party.
Europe that embraced the republicon concepts has tried them, learned they dont work, and had repudiated them.
What are Romney's economic plans again- one never hears. But if you read Time Magazine he states the Ryan spending cuts by definition will create another recession. So he says one thing then another. Just what does Mittens believe in? The Obamacare he implemented in Massachusetts and recommended to the rest of the country? The severlly conservative or the person who tells Time Magazine that you cannot terminate spending without causing another recession.
Pax -
The argument that the "republicon" policies will lead to a Europe style recession is based on a completely false premise, and is thus complete nonsense.
Read your own statement - "you cannot terminate spending without causing another recession" - again, a false and misleading conversion of the actual point. Let me know, with proof, please, when Romney - not Mittens - ever once said he would terminate all spending.
Some spending, yes - all spending, no.
So enjoy calling me names now, as I am fairly sure you will, while you (hopefully) intentionally miss the point of what I just said to you in favor of continuing to worship at the feet of the current President.
Exactly, even Colin Powell who I feel was excited to see another light skinned black be President or mad at Bush for making him look stupid in the weapons of mass destruction, is waking up from his kool-aid induced haze. Colin said that Obama should have focused on the economy more. Go figure.
MSNBC can NOT put enough spin or twist the truth enough to make Americans buy Obama's lies, Obama is a pure failure and we will downgrade him just the way he did AMERICA, do not forget because of Obama America got her first downgrade in history, and in November he will be gone in a very FAST & FURIOUS WAY.
And all of America knows that MSNBC will lie, cheat and twist the truth for Obama, but very soon he will be gone and then what will MSNBC do?
let me see we got a downgrade because the Republicans were playing games with POTUS, he inherited the worst economy since the great depression. The republicans continue to play games with POTUS, they won't pass the jobs bills, to get people back to work like the, Teachers, Firefighters, cops and construction workers.You honestly believe the republicans give a crap for the middle class folks or the poor.
How can this be good news for President Obama?
Voters’ sense of the trajectory of the economy matters, too. Job creation and GDP growth were far better in late 2011 and the beginning of this year than they seem to have been in the past few months, feeding into a sense that the pace of the economic recovery has slowed.
Hard to blame this NEW trend on George W. Bush, isn't it?
But the real question is will it really change regardless of who wins in November. I suspect far slower than is currently being projected. We are in a very deep hole and the inability to reduce government spending does not bode well for an accelerating economy.
Obama was lost from his very first day in office ....
And now we're going to be paying for it for decades ....
Name one positive contribution the GOP has made to the Nation. Let's just look back at the past GOP Presidents. Even if I give you Reagan you still got 4/5 failures. W.Bush, H.W Bush, Ford, Nixon! It's hard to believe the GOP even exists anymore with the constant failures. Who in their right mind would support such a big bunch of losers and whiners? No body in their right mind would.
G-9.....even if I give you Clinton.......you still got 3/4 failures Johnson, Carter, and Obama.
My dad tryed to run a buisness under Carter,kinda hard with 20% interest rates.I never thought anyone could be worse but Obama did it. I would have been happier with clinton,at least Hillery could have asked Bill for advice.No we get the guy with no experience,never had a job.Heck as a senator he voted present a lot so he didnt have to commit.And talk about some weird folk he has around him.Just his pick of Biden as vice president makes me question his thinking,what they looked for the dumbest white guy they could find?
vote Ron Paul!
Obama supporters = : (
Romney supporters = : )
"LOL"
Obama will go down as the worst president in the history of history ....
Even longer than that ....
Most of the state runs are trying to spin a turd. The facts are incumbents have lost on the economy before, with better economic numbers than Obama has.
We're not even close to where we should be, even if you think things are improving, and they are not. They can put out phony unemployment numbers all they want, but all of us not counted will be voting in November.
Obama couldn't fiscally manage a wiener cart ....
Never mind a country .... "LOL"
Hey Ben: You seem to know an awful lot about wieners. Something you want to tell everybody?
Yea ....
You're one .... "LOL"
Are you actively not seeking employment while you get your government check? Question the motives of the liars on here. Why lie if the facts support your argument? Name one positive contribution the GOP has made to the Nation in the past decade. It is truly amazing that not one person can name one positive contribution thaty the GOP has made to the Nation. Did you guys capture or kill Osama Bin Laden? No. Did you guys sink the stock market in half under your last President? Yes. Did your last President collapse the entire economy? Yes. Did your last President knowingly start two unfunded wars based on lies? Yes. Did your last President undue the policies of President Clinton that led to a budget surplus and thus create a GOP caused budget deficit? Yes. Did your last President lose 700,000 a month and fail to create even one net new job in eight years? Yes. Did your last President fail to protect the Nation on 9/11? Yes. What has the GOP done that is good? If you had a friend or family member and all they did was screw up constantly you eventually lose faith in that person. That is exactly where the GOP is today. No contributions to society yet they take take take. Talk about a sense of entitlement? I know it hurts your feelings to see a Democrat succeed again where all the Republicans have failed. 9/11, the worst failure of National defense in the history of the World. Should we go back to those failed policies too. Unfunded wars across the globe and broken ties with our allies. Mitt will take us back to those failures too.
CONGRESS! they suck and need term limits. Hey we have unlimited unfunded wars already.Ron Paul the only anti war candidate! vote or write him in if you love your country and value your freedom.
speaking of congress...tell your representatives to pass this bill, on jobs:
http://www.dpcc.senate.gov/?p=blog&id=133
"Secretary LaHood And Senate Democrats Call On House Republicans to Pass Bipartisan Jobs Bill"
and quit stalling.
I have to admit, its been great watching you liberals crash and burn. I mean, Obama turned into a huge disaster, never took any responsibility for anything. Easily the most divisive administration ever, black vs white, rich vs poor. Feds and Mexican government suing states for trying to curb illegals. REAL unemployment at 16%. CNN's rating lowest in 20 years. Oprah down 300 million this year alone. moveon.org will soon go belly up. OWS turned into a disaster. Oh' and my personal favorite? When the libs tried to accuse Romney or putting his dog on the roof of the car, then we find out Obama ATE dog. This year alone 129,000 millionaires moved out of the USA. Yup, hope and change.
Dogs love riding in the wind ....
And looking around ....
and they're DELISH!!!!
"LOL"
BBQ Anyone?
Mystery meat .... ??
"LOL"
pink slime
That barks .... "LOL"
Tastes like rooster.
Gona go to Bamma's for BBQ dog meats and chitlins. He gonna tell me all about his travels to all 57 states and how he gave an award to a corpseman. (lol). Me sure glad he cut the national debt in half like he promised and the unemployment rate didn't go above 8% like he promised. Gotta go, Bamma's rich friends are acommin and he emparassed by the 99%.
Heads of State Dinner, Head of UAW, Head of AFLCIO.................