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President Barack Obama took a shot against China and Republican rival Mitt Romney on Thursday, complaining to the World Trade Organization that Beijing is abusing trade laws by imposing more than $3 billion in duties on U.S. automobile exports.
Chip Somodevilla / Getty Images
President Barack Obama speaks at a campaign event at the Wolcott House Museum Complex July 5, 2012 in Maumee, Ohio.
"Americans aren't afraid to compete," Obama told an enthusiastic crowd in this northern Ohio city hours after his administration filed the complaint with the WTO. "As long as we're competing on a fair playing field instead of an unfair playing field, we're going to do just fine. We're going to make sure that competition is fair."
The Democratic president's speech kicked off a two-day campaign bus tour aimed largely at blue-collar workers in Pennsylvania and Ohio, crucial battleground states in the November 6 presidential election.
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The complaint to the WTO seemed directed particularly at Ohio, home to thousands of auto-supply workers, many of whom have jobs that likely were saved by the U.S. government's $80 billion bailout of the industry that Obama supported and Romney opposed.
It also was a counterpunch to Romney's claims that Obama has not been tough enough on China's trade policies, and gave Obama's campaign another way to remind voters of its efforts to tie Romney's work as a private equity executive to the outsourcing of American jobs to China.
The WTO in Geneva confirmed it had received the complaint from the United States, the nation's third such challenge against China following action against duties imposed by Beijing on the exports of certain U.S. steel and chicken products.
The president's bus trip - his first of the 2012 presidential campaign - includes stops in the Toledo area, where auto plants have been affected by the Chinese duties.
The trade duties cover more than 80 percent of U.S. auto exports to China, including cars manufactured in Toledo and Marysville, Ohio, and Detroit and Lansing, Michigan.
Beijing slapped anti-dumping and countervailing duties on U.S. auto exports in December 2011 on roughly 92,000 autos and SUVs, worth $3.3 billion in annual U.S. exports.
"The duties disproportionately fall on General Motors and Chrysler products precisely because of the actions that President Obama took to support the U.S. auto industry during the financial crisis," an administration official said.
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U.S. automakers typically are reluctant to comment on U.S.-China trade conflicts, wary of offending officials who represent the fast-growing Chinese market.
Scott Paul, executive director of the Alliance for American Manufacturing, a group that promotes U.S. manufacturing and products, praised Obama's move.
"American workers and manufacturers strongly support President Obama's decision to launch a trade enforcement action against China's unfair auto tariffs," Paul said.
"The deck in China is stacked against American automakers and workers, and this case will help to level the playing field. Less than 1 percent of the estimated 18 million vehicles sold in China last year were made in America, despite the fact that the Detroit Three brands are growing more popular every day."
Romney's campaign, as expected, took a more skeptical view, casting the president's move as one of political convenience.
"President Obama is on the defensive, trying to win back the support of skeptical voters in states like Ohio and Pennsylvania," the Romney campaign said in a statement.
A blue-collar push
Buoyed by the Supreme Court's declaration that the president's healthcare overhaul is constitutional but anxious about shaky economic data, Obama's campaign is targeting blue-collar workers who have been hit hard by the loss of manufacturing jobs.
Knocking China is likely to appeal to that group.
NBC's Mark Murray and Domenico Montanaro discuss Mitt Romney's latest health care comments and President Obama's bus tour that is getting underway.
Obama's trip comes against a backdrop of mixed poll numbers, fundraising challenges and European threats to the U.S. economy that could derail Obama's hopes for re-election.
A report on Friday is expected to show the U.S. unemployment rate held at a lofty 8.2 percent in June, although data on Thursday offered some hopeful signs for the labor market, including a drop in claims for jobless benefits and a pickup in private-sector hiring.
An average of polls by RealClearPolitics shows the president ahead of Romney by a tight 2.6 percentage points in Ohio and nationwide.
Obama is polling particularly well with women and Hispanics across the nation, but working-class men are up for grabs.
Such voters are among the key targets for the Obama campaign's emphasis on Romney's work at Bain Capital, the private equity firm that the Republican once led. Bain invested in companies that were early adopters of outsourcing business activities to cheap labor markets such as China.
"It's a race for blue-collar men," said Democratic strategist Bud Jackson, noting that such people have been especially affected by the sluggish economy.
"The ability of the president to win over blue-collar men is more tied to the reality of the moment: Are jobs being created and do people feel more optimistic? For him, the proof is somewhat in the pudding."
'Overpromised and underdelivered'
The China move aside, this may not be the best week to find that proof.
Data released on Monday showed U.S. manufacturing activity contracted in June for the first time in nearly three years, and monthly jobless figures on Friday are expected to show unemployment unchanged at 8.2 percent.
Ohio Senator Rob Portman, a Republican who is seen as a potential vice presidential pick for Romney, said Obama's record at bringing down unemployment was shoddy.
"Unfortunately, the president overpromised and under delivered. Unemployment remains above 8 percent, and it has been at that level for more than three years - the longest stretch since the Great Depression," Portman wrote in an opinion piece in the Cleveland Plain Dealer, an Ohio newspaper.
"To get the economy back on track, we can't continue with the status quo. Bigger government, more regulations, higher taxes, record federal spending and massive borrowing haven't worked."
Ohio's unemployment rate is below the national average, falling to 7.3 percent in May, and the Obama campaign notes that it has fallen 3 percentage points since Obama took office.
Part of that drop is thanks to Obama's bailout of the automobile industry, the campaign argues, resulting in investment from U.S. automakers in the greater Toledo area.
Copyright 2013 Thomson Reuters. Click for restrictions.
Leave a Comment:
Obozo is so two faced it isn't funny. He's signed more free-trade agreements than any previous president, responsible for sending American jobs to foreign countries.
I realize this is a election year but no trade agreement contains any clause stating american jobs are going overseas. That is a corporate decision, which offshoring predates our trade agreements anyway.
So your anti obama hatred may be real but its rationale is flawed
That's the way these tea baggers think. There is no logic in their talking points.
TRUTH FROM POLITICIANS,
allot of blow from someone that supports a candidate who has no policy , no plan, no idea whats going on, and can't remember what he said yesterday about the same subject.
Sure we all can see the value of Mitt Romney especially when Bush's top executioner Rove is trying to buy another election.
Come back with something intellegent.
China's trade policies are nothing new ! Obama has been President for 3.5 years and has failed to do anything at all. Only now, as he panders for union votes in Ohio, does he start talking about it at all ! Talk is cheap, and all Obama does is talk, talk, talk.
When has Obama actually DONE ANYTHING about these unfair trade practices ?Oh, that's right, he was too busy pushing his social agenda with gay rights, amnesty for illegals and "health care" for all.
Where IS that laser-like vision on jobs you promised, Mr. President ? Are you only "concerned" now because of the impending elections ?? Are you desperately trying to "look tough" ???
The white, older workers in the country, regardless of blue collar, white collar, pink collar -- These baby boomers need to look back at least a decade (to 2001) and they can see how the failed GOP voodoo economics have hurt them. The inequality between the workers and CEOs, the rich and the poor, has skyrocketed since Bush-era policies have been in place--and still are in place.
Not just in regard to the stagnant job growth, but more importantly stagnant wages during what should have been during their peak earning years. Add to that the loss of wealth from equity in their homes, 401ks, pension plans, etc. because of Wall Street Gone Wild -- All of this will force them to work until they die. Because even by age 67 or 70 their Social Security pay out is going to suck and they won't own a home or have a pot to piss in.
It's mind-bending to me that these workers (i.e., Teabaggers) don't realize this. If they can only think in the moment, for example gas prices (really?), or blame conditions on the poor (seriously?), or would vote for a plutocrat like Romney just because he has an 'R' next to his name, they are not well-informed enough to vote.
You're confusing the president with Romney and Bain Capital.
jim-1455434 -- The president HAS worked on this the last 3.5 years:
So tell us Jim "Where IS that laser-like vision on jobs" that the Republicans promised before the 2010 mid-term election?
You rightwingers are insufferable (and that's a kind word).
'Buy America' is a law of the land, is China copying us too?
"False patriot", Your main squeeze Obama is the one who has promised his "laser-like vision" on jobs. He lied ! Obama thought his failed Stimulus would do the trick, and then focused all his energies on Amnesty for Illegals, Obamacare and his beloved Cap and Trade. He thought jobs would take care of themselves.
Republicans have passed a significant number of bills in the House and sent them to the Senate. Harry Reid is obstructing their passage as he will not even allow them to be brought up for consideration. Harry has his "BUTT-PRINTS" all over those jobs bills.
Bain Capital is relevant only because you libtards (and that is a kind word) refuse to allow the discussion to be on the economy and Obama's failed leadership. You would like to brag that unemployment is at 6.0%, but the truth is that it is STILL over 8% with Obama nearing the end of his term !
you got that right. truth from politics
jim- name me one of bone head boehner and I'll invest on the dollar falling Cantor jobs bills that actually creates jobs. My favorite is HR2681 for the cement industry. With the economy now in full growth mode due to all these republican job ending regulations such as requiring cement workers to have breathing aparatus so they dont develop lung cancer from breathing in the fine cement dust, or preventing the release of known carcinigens into the atmosphere. We need more hard hitting JOBS bills such as these.
Your side has enacted 180+ and couting filibusters to prevent any movement on the economy. Because your side knows a lower unemployment and mittens would be a joke.
why the cayman islamnd and swiss bank accounts. Isnt american good enough for him. What is he hiding? why would anyone need offshore accounts?
Just read that Romney raised $100 million in June.
Gonna have to side with the Right-Wing Ding-a-Lings on this one. Sorry guys.
Clinton signed NAFTA (in 1992), and my state promptly lost 400,000 manufacturing jobs in a mere 9 years once Bush turned the other way (in 1999) and let NAFTA's environmental, trade and labor provisions go ignored. Bush did it to kill Unions. It worked.
Pres. Obama signed one for Korea and now,....wants one for Japan.
Those countries will not buy our cars not because they are inferior. They won't by them because they are culturally programmed not to. The Japanese are exceedingly provincial, more so than any people on earth. They will not buy anything not produced in Japan. They are hard-wired to buy Japanese products only. They would cheerfully sodomize their own mothers rather than buy outside products from "gei-jin" (foreigners, barbarians).
Those free trade agreements would wreck more havoc on Detroit once repubs get back in charge. History would repeat itself, and we would lose another manufacturing 400,000 jobs in Michigan alone.
These "Free" trade agreements may be sculpted by repubs,......but they're signed into law by DINO "Democrats",.....and they are effin' killing us.
jim-1455434 -- Thank you for the reminder. If the GOP/TP had not obstructed passage of the Jobs Act, and if the GOP/TP had not fired so many teachers, cops and firefighters, the unemployment rate would be below 7% right now.
I'm not a fan of many trade agreements either, but the media has failed to report about the many things President Obama has done to preserve/increase manufacturing here -- Most notably saving the auto industry in the first place so that there is such a thing as exports. He has also tried to get market share of batteries, and would like to do more in regard to solar panels, wind turbines, etc. Hey, the president is even the first to promote tourism here.
Come on, we know what Romney and the GOP/TP have done -- Nothing.
True Patriot - But that was the GOP's goal - to keep unemployment high. Anything they could do to make President Obama a one term President. Can we say "treasonous?" I believe the teachers, cops, etc., will remember come election day!
Obama/Biden 2012
How funny was Want the Truth From Politicians post? I had a good laugh. How uneducated a statement can one make and still take themselves seriously? Try visiting Romney’s web site sometime Want the Truth From Politicians. Romney’s web site even has a page dedicated to how Obama has not signed new trade agreements compared to China and the EU. It goes on to talk about how Romney would get to work signing trade agreements to increase trade. Agreements would increase trade but can cost jobs and make it easier for companies to outsource jobs. Any trade agreement with a country with low labor costs is especially susceptible to outsourcing. From the Romney Website on trade:
Mitt's Plan
Mitt Romney believes that free trade is essential to restoring robust economic growth and creating jobs. We need to open new markets beyond our borders for American goods and services on terms that work for America.
Opening New Markets
Every president beginning with Ronald Reagan has recognized the power of open markets and pursued them on behalf of the United States. George W. Bush successfully negotiated eleven FTAs, encompassing sixteen countries. He also had the vision to commence negotiations with a number of allies around the Pacific Rim to expand significantly the Trans-Pacific Partnership. All told, these agreements have enabled people across the world to come together and build a better future. Economists estimate that the agreements have led to the creation of 5.4 million new American jobs and support a total of nearly 18 million jobs. Looking beyond just our FTA partners, our total exports support nearly 10 million American jobs. These are not just jobs; they’re good jobs, paying significantly above average, and more than one-third are in manufacturing.
Vote Obama if you don't like Free trade agreements or outsourcing american jobs.
Don't know where you could possibly get all those stats but I think you might want to research some more because YOUR WRONG. All have you heard about the Asian Pacific Trade Agreement President Obama is hiding from his own party?
How funny, Comrade Obama, Our Communist in Chief, is riding around in a two million dollar bus He had made in Canada, accusing Mr. Romney of outsourcing jobs!Never mind that Mr. Romney himself , has created more jobs in this country than the entire Obama Regime.
Jim the way you feel about POTUS is EXACTLY the same way I feel about THOR! Okay? All the points you make about this one person, who is supposed to be the savior and do-all for our country according to you, I would direct to all the Republicons in the House.
The Obstructionists in the House are, as much, if not more than the POTUS. So, please, spare us with your continuing rhetoric about Obama not doing what he is suppose to do.
Do I have to quote McConnell on the POTUS first week in office? You know, as well as, everyone that Republicons wanted him out from the start. How fair is that?
The notion that the "numerous" jobs bills and Ryan budget are worthless, only to serve, conservatives agenda, and not the working middle class. THAT is why those bills never passed. So, get over it.
sirie
was it 2 or 3 people who wrote the Romney checks?
The only thing Romney is proving with these donations is that a few people are adamant about buying the White House.
No one in their right mind would ever write multi-milion dollar checks, and not expect something from it in return.
And if you notice, no "little" people are sending checks to Romney.
Why is not Mr Romney calling the Obama administration to task for their lack of interest in pursuing financial fraud ? Regarding the likes of Goldman Sachs and John Corzine?
Mr. President; Please explain to the citizens of OH why CA & NY have outsourced major infrastructure projects to the Chinese. Projects which could have put unemployed citizens in both states back to work.
Oh, that's easy. CEOs, including those running frauds, are Romney's good buddies. He'd rather they didn't get into trouble.
Because it was a State issue and not a Federal issue. If you have a complaint, take it up with the State Governors and State Legislatures.
"Obozo is so two faced it isn't funny. He's signed more free-trade agreements than any previous president, responsible for sending American jobs to foreign countries."
Want the truth from politicians: You shoud read Romneys 59 point plan. One of his first acts as president would be to authorize free trade treaties with 5 additional countries that Obama isn't persuing. You really think a man like Romney whose made a fortune producing goods made over sea's to sell here is more likely to protect labor over business?
I love the finger pointing back and forth. While Obama is not responsible for the jobs going overseas, he has not helped the problem. The question that needs to be asked is why they went overseas in the first place?
1 - Burdensome regulations. 2 - Punitive taxes. 3 - Years long permitting processes. Shall I go on. Both parties are responsible for this. Both must fix it. Unfortunately our current President is more concerned with adding more regulations. Leadership starts at the top. Pres. Obama has never learned how to lead. Great oratory does not a President make.
Southerners have had a long history of using states' rights to justify disturbing stuff
just why does Romney need cayman and swiss bank accounts? His father released 14 years of tax records, Romney just one and we are still waiting for details on his very complex return.
Just why would he need overseas accounts?
Who said he needs them ? As long as Romney is paying taxes on the income thus generated, what's the beef ?? Should he put his money in one of those big, risky U.S. banks that just got a credit downgrade ???
jim- I would love to read your outrage if Obama went on a vaction out of country(see blistering attacks from prrior years when wife and kids went overseas) let along have cayman island and swiss bank accounts.
doublespeak from the right- naw, couldnt be.
why have foreign bank accounts, why release only one years tax return, why have no further discussion of questions raised- such as how does he have a 102 million dollar IRA investment? See post number 5 for concerns
So now you are changing the subject to vacation locations ?
As far as foreign bank accounts goes .... we are in a GLOBAL ECONOMY genius ! If foreign investments reap a BIGGER RETURN ON INVESTMENT ..... duh !..... that is where the money goes.
Take your average broker account and you will have investments, some via mutual funds, that contain a variety of global funds. When you get your 1099 statement at end-of-year, you may have [ gasp ! ] foreign dividends withholding on that foreign income !!!!
Are you really that naive ? Take ANOTHER paxil !
jim-1455434- Your side called Michelle moochelle cause she spent millions(false) on her overseas trip instead of buying American. My, what a short term memory you have.
We are not speaking of global investment mutual funds. These are secret, no disclosure, accounts. What is in them, even if they are interest paying accounts is not disclosed. Just why would POTUS want overseas accounts? To save some money- my oh my? The reason why hedge funds often use the Cayman Islands is like the Swiss they protect the privacy of their investors.Romney doesnt want full disclosure. That's why the Caymans and why only one year tax return has been released and why no answers to the many questions raised.
how about non disclosure on his IRA's? He either has the best investment record since Bernie Madoof or he undervalued the assets going into the account, which is the more likely scenero. Of course, mittens could just be saying I have so much money I dont care about the tax savings and invest over the 30k limit per year. But then, that cuts your argument on his motivation of just wanting a larger return on his investment.
Paxil, You absolutely wear yourself out with totally useless SPECULATION ! You present NO FACTS, but hide behind innuendo and "what ifs". Of course, you start off with a totally irrelevant comment about what the President's wife may be nicknamed.
Is that the best you've got ?
Obama flops with one failed economic policy after another and all you can do is work yourself into an absolute frenzy over how Romney may have gotten wealthy and maintained it.
I am willing to guess that Romney did NOT invest in Solyndra or GM stock!
jim.....Flipp Flopney's problem regarding the overseas bank accounts is that he wants the President of THIS country. He doesn't believe in America enough to deposit his money here? He sounds like a guy who hates America.....why does Flipp Flopney hate America? Cmon'....why does Flipp Flopney hate America?
Boy Republican logic is so easy.
Jim- Fact- Romney has Cayman Island and swiss bank accounts. What is in them has not been disclosed. Reporters have asked on numerous occassions.
jim- fact- Romney has an IRA valued per his tax return at 102 million. Fact, as an individual you are allowed a tax deferral of a maximum contribution of $30,000 per year. Romney put money into this account for 12 years. How did $360,000 turn into $102,000,000.
Romney has been asked this question on numerous occassions.
He has failed to comment.
Is this the best I've got? The man running for President may have committed tax fraud by purposely undervaluing the asset going into the IRA, thus reducing his tax liability or he has the best investment track record since the beginning of time. Or the man is very very honest and over invested in his IRA and purposely increased his tax liability.
We have asked. He has failed to respond. You think this bears no relevence to his character? You are the one kidding yourself. That's why the need for Cayman Island accounts so there will be no disclosure other then what he tells us.That's why he has released only one years tax return and why he has failed to respond to detailed quesions as a result of his disclosure
Jim- part II- you say Obama economic policies failed. The cbo scores his stimulus as a success. Even Mark Zinni(sic) a economic advisor to McCann said last month the stimulus worked. So does The Economist of England, a VERY conservative paper.
The 180+ and counting filibusters have screwed this country
The Republicans meeting BEFORE obama was sworn into office(see draper book, sen specters article dated 12/10, and n.y. times articles outlining the strategy) to develop a plan to block any obama programs.
Demint tweets 2/09 we will break him referring to Obama
180+ and counting filibusters the highest total in all of America's 223 year history. Jim- that is a 223 year record broken.
Would there even be a doubt as to who would be elected President if we had 6% unemployment.
Would we Jim? You know the answer and you know the reason for RepubliCON strategy Jim, dont you.
I need: Tell the CBO to talk to the millions and millions of people who are still unemployed and we'll see if the stimulus was a success. FYI the real unemployment rate is about 20% when you take into account all those who have part time jobs and those who have become discouraged and left the job force.
Paxil here is a fact! In four years the Obama administration has prosecuted no one for the financial fraud and ultimate collapse that is destroying the middle class.
To all posting about Romney's financial records. I'll be more concerned about that when Obama exposes everything about his past and is truthful about F&F.
Yes, but Cayman Island accounts don't pay much interest, and Swiss accounts pay little or none. Both of those are secretive, rarely co-operate with investigations, so are frequently used to hide income from the tax man (or worse, launder money from illegal sources...)
That still leaves a big question as to why...
Congress passed tarp 1 on oct. 3rd, 2008, 3 months before Obama took office after being advised that if a massive stimulus was not passed immediately to save the banking and financial sector we'd be looking at a depression worse than 1929. Romney was a huge supporter of stimulus. Until he opposed it. An interview by Romney at the end of Bush's term.
BLITZER: He’s talking about a $750 billion economic stimulus package. He wants it to be passed as soon as possible. It’s unclear if whether it can be passed before he’s inaugurated on January 20th. What do you think about this proposal?
ROMNEY: Well, I frankly wish that the last Congress would have dealt with the stimulus issue and that the president could assign that before leaving office. I think there is need for economic stimulus. Americans have lost about $11 trillion in net worth. That translates into about $400 billion a year less spending that they’ll be doing, and that’s net of additional government programs like Medicaid and unemployment insurance. And government can help make that up in a very difficult time. And that’s one of the reasons why I think a stimulus program is needed.
I’d move quickly. These are unusual times. But it has to be something which relieves pressure on middle-income families. I think a tax cut is necessary for them as well as for businesses that are growing. We’ll be investing in infrastructure and in energy technologies.
Romney admitting prior to Obama even assuming office that out economy lost 11 trillion in net worth and 400 billion a year in revenue. Even Romney admits that on Bush's watch we lost 10% of our revenue at the same time as millions were dumped on unemployment lines and onto medicaid and foodstamp roles yet the right won't admit Bush had anything to do with our deficit skyrocketing..
Question for all you libs. You are quick to jump on Romney for offshore bank accounts. How do you know Obama doesn't have them?????
bbb IF obama had offshore accounts he would be doing something ILLEGAL too!
Uhm, WTTFP, please explain your statement. The complaint filed is to protect American trade there not to send workers there???? Got it a little backwards there, Bud.
Our President talks crap about China, but doesn't express any criticism towards DEM leadership in CA or NY for oursourcing huge infrastructure projects to Chinese contractors rather than addressing the unemployment rate by hiring American workers in each state.
i do believe as a republican you support state rights and would object to the WH dictating expenditures done by a state. Arent you criticizing just to criticize?
It's more like fake outrage from the right.
job1- 98% of the "republican facts" on this site when examined are wrong, most are just outright lies to support their preconceived notions..
Take your paxil ! After that PROVE the 98% number you threw out or we will all know your comment is worthless !!
It is you libbies who magically elevate your OPINIONS to the status of FACTS ! LOL !!
jim, look on this site and you will find lie after lie. The stinulus didnt work, obama cant lead(perhaps 180+ filibusters and counting- the LARGEST NUMBER IN OUR HISTORY) have something to do with this.
Jim- pick an issue and lets discuss. I will make you a $10,000 Romney style wager that our side can defend Obama with more accurate information then your side could ever weld. Wonna try?
question one- why does he need cayman and swiss bank accounts again? We missed that explanation.
question two- how the heck did he get over 100 million in his IRA again?
Prove the 98% you claim and QUIT trying to change subjects ! You are flopping around like a freshly caught fish on the deck of a boat !! Man up, prove the 98% or admit you pulled it out your a$$ !!!
ANSWERS TO YOUR QUESTIONS:
Nobody but you said he "needs" foreign investment accounts .... a stupid, irrelevant question by you.
You have had for years the ability to make contributions to an IRA in excess of the annual limitation, you just don't get the excess deduction. Also, good investments grow. Maybe his IRA contained investments in Bain Capital.
jim- bingo maybe he invested in bain capital stock and maybe he valued it at the 30k figure when he knew its value was higher. He had 12 years of inputs into this ira and at 30k a year a $360,000 investment grew into $100,000,000+. Now that is one hell of an investment- the best year over year return in the history of investments, or he purposely threw away tax savings by placing $300k a year into his IRA but only deducting the 30k, or he cheated.
He has been asked about this before. His answer- total silence.
Wow, Romney raised $100Mil last month!
Maybe, maybe, maybe ...... Maybe you are a guy/girl/it that truly needs regular doses of paxil !
If you ask me about my personal investments, you will get silence as well. It's none of your business !
The only matter of relevance is Romney's ability to lead this country, restore fiscal order, reduce unemployment and manage the explosion of governmental growth. Romney has been successful in business and as Governor of Massachusetts.
Obama made a brief pit stop in the Senate for about 2 years or less before his political ambitions took over. It has been downhill since his election.
sirie- wow- didnt he have 75 donors for an average of $1,333,333 per donor.
Democracy with a small d in action
jim- even you dont believe the weak assed response you can give, The man wants to lead this country, set investment strategy for all 300 million by his actions and we are not allowed to be privy as to why he feels the need to have offshore accounts. Why he cant disclose how he turned $360,000 into $102,000,000 when the obvious and more likely conclusion is he cheated on his tax, but we are not allowed to know the answer because of his privacy.
You are a joke
Paxil,
Jim is a Republicon Troll that believes everything he regurgitates. He, like so many others, are completely oblivious to the masters they serve. Hypocritical, fear/angry monger puppets.
The truths escape them because of sheer hate, and fear.
You do realize that putting your investments in banks here at this time is not wise.
Bevvar: Yes, i'm sure putting millions in the banks of a country with a population of less than 59,000 people is much safer than U.S. banks that have already been bailed out for hundreds of billions proving we'll protect our banks with whatever resources it takes for the big banks. The Cayman islands entire budget is less than 1/2 billion a year. No one keeps money in Caymans accounts for safety they do it for secrecy. You people will excuse Romney for anything. The entire Caymans budget would barely cover Romneys net worth.
How interesting that you all are concerned with Romney's investment portfolio.
And how soon you libs forget:
Obama has not released his school grades
It took 3 years to see his birth certificate
Tim Gainter(sp?) is a tax cheat
I have never read/saw an interview with people who attended Obama's lectures when he was at Harvard
I have never read/seen an interview with people who went to school with Obama (at any time) nor heard from any of his teachers
When Obama was editor of the Harvard Law Revue he never wrote an opionion
When a senator in Illinois he never voted for or against anything
Obama appointed how many "czars" with no notice of their authority or salary
And Obama wasn't asked these questions and if asked I don't remember reading/seeing a response
question for all you romney supporters. His tax release shows he has in excess of 100 million in his IRA. The limit per year for tax deferred interest on your IRA is a $30,000 per year limit.
1. So Romney either did what no self respecting financial advisor would do and wasted tax savings
2. Romney has a better investment return then Bernie Maddoff
3. or he fibbed, placed Bain stocks in the IRA and valued them at the 30k max and magically in later years they developed a 450% per year return. Amazing
But maybe that's why he has the Cayman Island bank accounts- kink of like swiss bank accounts- the information never gets released.
Oblamo is the least accountable human that's ever breathed oxygen.... he's been in the job (notice I didn't say doing the job) for three and a half years and nothings ever his fault.... "the buck stops anywhere but here" should be his re-election slogan... and his economic strategy... he just needs another $20 Trillion or so to redistribute to his supporters to "get the economy going"...
Give the President credit for all of the good he has done for our Nation. The history books will show that President Obama is and was a GREAT President.
The facts bare this truth!
Also, his name is not Oblamo. You can call him Mr. President, President Obama or Obama. Show some respect.
on the night before his inauguration republican leadership met to discuss strategies on making Obama a failure as a President.
this has been sourced by Robert Drapers book, Sen. Specters article in 12/09, and articles reported by the N.Y. Times
In Feb 2009 Demint tweets "we will break him" referring to Obama
Since Jan 2010 when Scott Brown was elected and the Dem's lost their super majority we have had 180+ and counting filibusters. This is a record having Never been done in American History before.
So the Republicans have stopped Obama who was elected by a majority of people in this nation, had a electoral college blowout election, and the party of NO decides they know whats best.
Job1 "Also, his name is not Oblamo. You can call him Mr. President, President Obama or Obama. Show some respect."
So it is ok for you and your other liberal friends here to make fun of Mitt Romney but if anyone even tries to demean Obama, you demand respect?
Sorry friend, but respect is earned, not given away. Kindof like money (or used to be the case). You should earn it instead of demanding it. Too bad you can get free money for doing nothing, so I guess that wasn't a good example.
Fed up ,where did you come up with 20 trillion. You not only fell off the turnip truck ,but you landed into a pile of crap.
"The facts bare this truth !"
Please pardon me while I attempt to "not throw up" at this "OPINION" from Job 1.
It is also a "fact" that "bear" would be proper usage instead of "bare" ..... of course, you libs might think I was talking about Smokey the Bear ..... since you are all so "intellectually superior". LOL !!
Yes, Barack Obama has done a GREAT job of running up the national debt !
Yes, Barack Obama has done a GREAT job of running of getting annual budgets done on time (sarcasm)
Yes, Barack Obama has done a GREAT job af dividing U.S. citizens .... the not-so-rich versus the rich.
Yes, Barack Obama has done a GREAT job of keeping unemployment below 8% as promised (more sarcasm)
For everything else, there is Mastercard.... LOL ! Obama is a financial clu$terf_ck a$ Pre$ident !
'Job 1' is right - President Obama AND his opponent, Governor Romney, should be shown the respect that their office requires. The name calling (by both sides) is reprehensible. Please, folks, can you try to make a point without name calling? That said, President Obama has to run on his record for the first time in his life - if that is what people will judge him on, then we will all soon be showing due respect for PRESIDENT ROMNEY!!
Accountability? Dude, you don't even want to go there...okay?
Was Bush accountable for the New Orleaneans during Katrina? Was accountable for letting OBL go? Was he accountable for the American lives that died during the Iraq War (no WMD) et. al. STFU!
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Look up bare in Wiktionary, the free dictionary.
Bare means minimal or naked.
Well, if you insist that we are intellectually superior it is probably the only correct thing you have said! Does anyone else think he intended to mean "naked"? FAIL! We were not thinking of Smokey the Bear, we were thinking Smokey the Republicon Troll!
He needed trillions just to clean up Bush's trainwreck. According to Romney if he'd won in 2008 he'd have supported stimulus spending as well. See interview Romney did at end of 2008.
BLITZER: He’s talking about a $750 billion economic stimulus package. He wants it to be passed as soon as possible. It’s unclear if whether it can be passed before he’s inaugurated on January 20th. What do you think about this proposal?
ROMNEY: Well, I frankly wish that the last Congress would have dealt with the stimulus issue and that the president could assign that before leaving office. I think there is need for economic stimulus. Americans have lost about $11 trillion in net worth. That translates into about $400 billion a year less spending that they’ll be doing, and that’s net of additional government programs like Medicaid and unemployment insurance. And government can help make that up in a very difficult time. And that’s one of the reasons why I think a stimulus program is needed.
I’d move quickly. These are unusual times. But it has to be something which relieves pressure on middle-income families. I think a tax cut is necessary for them as well as for businesses that are growing. We’ll be investing in infrastructure and in energy technologies.
Jonathan
I totally agree with you on the name calling. Not just toward those who are in office or running for office, but also for the folks who post comments. There is no need from any side to be rude toward another because of a difference of opinion
Obama is in the race to be the "worst" president in history! He cann't keep a campaign promises, he got a border agent killed - and put us in more debt by raising the debt ceiling. Not to mention a stagnat economy.
Tyler,When are you going to put a end to the abuse of the delete option. I demand you answer me as a member of this blog.
You demand ? I am sure Tyler is shaking in his boots right now !
He did by private email
If you're civil your posts won't be deleted. Just play nice.
dude- making fun of Romney- can anyone from your side answer why the cayman island accounts, why 100 million in an IRA, and why your party would purposely deny the ability of the President duly elected from implementing his program. Instead 180+ and counting filibusters. Brought to us by the party that runs on the motto "Country First"
Paxil "dude- making fun of Romney- can anyone from your side answer why the cayman island accounts, why 100 million in an IRA, and why your party would purposely deny the ability of the President duly elected from implementing his program. Instead 180+ and counting filibusters. Brought to us by the party that runs on the motto 'Country First'"
Cayman Island Accounts - Still needed to be reported on Form 90-22.1, so it really doesn't matter where the accounts are, and the fact that it was reported on Form 90-22.1 shows him being transparent in the matter.
IRA account- Multiple IRAs, not just one. Besides, the thing about IRAs, they are TAXABLE when received. So, $100,000,000 in IRAs just shows that, overall, given current tax rates, Romney will have to pay $35,000,000 in taxes. Go ahead and spin that around, I don't care, because I know better. You can't get around not paying those type of taxes (IRAs are not capital gains, so no tax benefit from it).
Reason Obama doesn't get his toys- Jee, I wonder why. Could it be that Obama's policies are very destructive in nature and have absolutly no basis in helping America? Very possible, wouldn't you say, if a Republican president was just as dangerous as Obama when it comes to issuing very destructive policies? I would vote Democrat if I see any Republican issuing policies that would hurt overall growth in this nation like Obama's policies have been. Even though we are in a very stagnant growth, that is the best I could have hoped for with Obama at the head of it all. I'm sure MSNBC wouldn't report this at all, but there is a reason why REAL GDP has been slightly deflatting and why REAL UNEMPLOYMENT has been rising slightly.
I support "Growth First" policies instead of "Spend it all and expect our children to pick up the tab" policies we have been having for the last 4 years.
dude- are you for real. Romney reports on his Cayman Island accounts- no details just he has them and this is transparency to you. Explains a lot.
You have cayman island and swiss accounts so the details will not be disclosed.
Dude- where did you go to school. Want to make sure my kids dont go there. You put money in the IRA to avoid tax the year you place it in the account. So the more likely reason for this total is he valued the IRA investment at 30k when in fact it was really worth 300k- you just shielded 270k in income tax. get it? its not hard.
Of course his details on his foreign bank accounts are not disclosed. But the fact that he REPORTED them on Form 90-22.1 shows that he is at least being VOLUNTARY about his foreign bank accounts. Or are you going to say that these accounts were found out from a different source other than the IRS?
It is the same as saying how much money are in my bank accounts. That is just asking for people to come rob me. "Please mister thief, take my wallet but don't take my bank information because I have boatloads of green in there!"
As for the IRA, seriously. Do you think IRS are that stupid? I work with IRS all the time and I know that they are a lot smarter than you put them to be, by accusing Mr. Romney from altering a few digits to "shield" himself from paying tax today.
Besides, we don't know if the IRAs are traditional or Roth. That type of information does not get disclosed to us (I'm betting that most of the funds in his IRA is Roth-type, because that would exempt him from getting taxed on the gains he makes in investment, but you would have to know taxes to understand what I am saying).
Please, keep up the insults. That doesn't affect me at all.
dude- the third set of comments you made deserved a seperate answer. Can you name me ONE nation that has implemented Republican or Teaparty economic plans that has turned the economy around? Lets see- the UK implemented your plans in 2010. Today they announced they will try Keynesian economics because they are officially in a double dip recession.
China is starting stimulus II due to the European slowdoen impacting them. Check out what their stimulus I program did why dont you.
Do you know what Pimco Bond is? The largest bond trader in the world. You know, a bond where its value increases as interest rates are low and decrease as rates rise. Very sensitive to what your side says will happen- deficits will cause inflation. The head of this company has publically stated the USA does NOT have a short term defcit problem. We have a short term JOBS problem.
You dont know, dont understand, and rather then admit your wrong your side just yells louder.
Please get educated on the issues. We are not marxists or unamerican. Your side just acts unamerican- especially if you ever read the declaration which kind of states the reasons for our independence.
hey dude- all romney needs to do is explain how 12 years of 30k max investments ballooned up to 102 million.
1. he either has the best investment track record since bernie maddoff
2. he went against the advise of any financial planner and threw away tax savings by overinvesting(above the 30k limit) in his IRA
3. or he play games on the valuation.
Romney REFUSES to tell us. I am reporting facts- let him disclose.
Dude why would a traditional or roth make any difference? Yes you forgo paying tax when received but you GIVE up the tax advantage going in. Your mentioning this only illustrates you are out of your element and really dont understand the question, let alone your weak ass answer
Please- do you know how few audits are done- especially on the rich because they have high priced attorneys on retainer to handle the audit. The Irs would rather go after us little folks who wont fight as hard
Your example of UK is very flawed, because it is part (not currency, but still a very strong part) of European Union, which is now at a very bad depression due to some of their member countries. Just in case you haven't heard, Greece, Italy, Spain, and Ireland are doing very bad atm.
China is implimenting an additional stimulus because they are trying to keep the good times rolling. Have you noticed their GDP has been expanding at an accellerated rate since the late 90s? That bubble is about to burst, and lucky that not many investors are in that market due to political strongholds of the market in that nation. I guess communism is a good thing in this case. Keeps us from going down with China.
What is your point about Pimco anyway? What one person said that may be used for your favor? I bet you that when he points out something that you don't like, you would cast him out like anyone else not with you.
Also, please stop assuming that I am the voice of Republican National Party. I am neither defending or attacking either party. Just your ideas. "Rather then admit your wrong your side just yells louder." "Your side just acts unamerican." Please get YOUR facts straight. I'm not attacking your party, just your political beliefs.
name me ONE country that has implemented your plans that has any success. You call him Oblummo or whatever but obviously you must be an independent. As far as Pimco goes it cuts your arguments in half. The head of Pimco said your deficit reduction screams all last year and continuing until today are WRONG.This from the largest investor in the world on INTEREST sensitive products. He is not an ideologue- he has to make money on the investments for his company or he loses his job and he says your ideas are wrong.
Do you know who Greenspan is? You know, the Maestro. The guy your side loved to love. In Congressional testimony after the crash he admitted his "world philiosohy was flawed." He based, and the core of your sides argument is, business will not purposely do anything to destroy itself. Then how do you explain all of the banking industry going off the cliff.
How do you explain the LIBOR scandel that just erupted and the head of Barclay forced to resign?
Seriously. You want me to explain everything for you without you even looking it up for yourself? Besides, anything I say about my viewpoints will be counterpointed with your weak arguments because that seems to be what you do here.
So I'll bite. What are my plans anyway? I don't remember pointing them out to you in our little exchange. You assume that because I'm against you, I have become the spokesperson of the anti-paxil group around the world.
As far as Pimco goes, it is just one person's viewpoint in global matters. His job is to access credit worthiness of bonds his company buys (or at least, oversee those that actually do make those type of decisions) and become the spokesman for the company. His viewpoints are his viewpoints, not the "end-all decision of today's financial world."
Besides, Alan Greenspan was one of the greatest chairmen of the Fed out there. He is right that the world philiosophy is flawed, but I think we have different viewpoints of what he is referring. My viewpoint is, without international regulations, when things become interconnected, and the ties are so strong with each other, one vibration would affect the world in a way unfathomable to today's markets and could cause a global depression in the scale unimaginable. Which is what is happening with the European Union as we speak.
As for the banking industry, that was some bad mistakes lead on by credit-default swaps and anticipation of borrowers to actually pay off their loans instead of borrowing more and more and more until the entire bubble burst. Inflated housing prices did not help at the very least, and could be considered as one of the factors that helped make the bubble inflate period.
As for LIBOR, I'll wait to form an opinion as I get more facts. I don't follow the mob mentality into beliving what the first person said and raise my pitchfork in response.
dude- you call my arguments weak? The core of the non regulations philosophy(isnt that the essense of the 30 jobs bills stalled by reid) is the statement that business does not need regulations. They know how to do it better then govt anyway. Obviously they dont. Obviously Greenspan never acted on the regulatory side believing it didnt matter. In 2008 he said regulations matter and that is the significance of his comments.
Pimco is in the bond business. Bonds go down in value when interest rates go up. Your sides scream on deficits is based upon what belief? The head of Pimco says your side is wrong. The world's largest investor, whose sole job is predicting the movement of interest rates. So I will take the head of this company that owns over 100 billion in bonds over the "dudes" understanding of economics.
As far as LIBOR goes the head of Barclays resigned after admitting they lied. The Bank of Scotland admitted they llied. The way the system works is all 14 banks had to be in on it or two banks lying would have had no results at all. So its not a mob mentality on Libor but an indication that you dont understand what you dont understand. Incidently, arsehole, LIBOR determines the rate on variable rate loans- like car, auto, mortgage-. I heard a figure of 750 billion in loans being jacked up due to these bankers falsifying the information. They lie, we pay more. Kind of like the cdo's and the rest of wall street. They LIE
Did I say that businesses did not need regulation?
But since you are on the topic, lets discuss that. Regulations can either hinder or help an industry, depending on the type of the regulation. Most regulations have minimal effects to a business, but some are very damaging and can force a business out of the market. Those types of regulations are what is being attacked, but, as you have demostrated, since a person attacks one regulation, they MUST be attacking all regulations and "want businesses do what they want to do and screw the little person!" You really must think that, because I show you one flaw in your argument and you attack me like I damaged the core of your being.
What Greenspan said shows what I just said. I seriously doubt he meant that we should overregulate every single industry until there is one mechanical way to do anything and if you even get near the line, you must be penalized with the most severe penalties known to man. Which is the direction our current administration is going. Just look at what the individual mandate IMPLIES: Buy health insurance or pay a tax. I lost my freedom of choice last Thursday, and nobody realized it.
Your belief in what Mohamed El-Erian said, who I believe is what you are referring to, is the same as yours. Of course you are going to believe what he said, because it is what you think. Better to have somebody else say the same thing to reenforce your beliefs, I guess. So no matter what happens, you will always believe what one person said at one point of time. Even if you misinterpret what that person said.
As far as anything is concerned, do you honestly think people DON'T lie? You think EVERYONE tells the truth? Because if you do, boy, do I have a deal for you!
Don't base your opinions on what a few people do. It makes you look like an idiot every time.
dude- greenspan did not say what you said because greenspans position throughtout his career was anti regulations. Not needed, waste of time, interferes with the efficacy of busness.
Dude- how did all that efficacy workout after Sept 2008. How's it working out with JP Morgan derivative loss is now 9 billion when it was suppossed to be 2 billion just a month ago. Who needs the Volker rule..Have a couple more screw ups like this and with fewer and bigger banks the whole system can come crashing down.
How's that efficacy working out now that we know the LIBOR rate is a scam.
The entire system is corrupt, and the most corrupt are the RepubliCONS and their teaparty goons.
Dude dude dude dude sounds kind of silly doesn't it
A) you are grasping for straws. Your interpretation of Greenspan is not only weak, it is counter to your argument. First off you were saying that he was supporting regulations, then you are saying that he was anti-regulation. Make up your mind, you are flip-flopping more than Obama at a independent town hall meeting.
B) you are taking everything out of context. You have to realize that everything is being blown out of proportion and you are not helping matters any. Do you remember Authur Andersen? I highly doubt it, but that firm is a perfect example of what happens when things get blown way out of proportion and people turn into their mob mentality to hunt down a "monster" that made their lives bad. Guess what, the "monster" most of the time turns out to be themselves. That is why you should listen towards the facts and make your decision without letting the emotion of the pack rule your decision for you.
It is as simple as that. Now is not the time to get your mob on because last time that happened, Obama was elected and we all know how big of a mistake that turned out to be.
Not as big as having 8 years of W!
You guys (left wing of the left wing) are too much. As Obama continues to spin out of control your vitriolic attacks will only become even more hysterical.
And as far as Obama being considered a great president, I almost had to take advantage of ACA...that gagged me so much from laughter I nearly needed an ambulance and some emergency health care.
mlk boner- like so many on your side you dont understand much. Lucky you didnt call the ambulence and go to the emergency room as Obama care isnt implemented yet.
since Obamacare is the last Republican health care plan ever devised just what exactly is your position on the 35-50 million uninsured. When ill or dying hide under a bush?
love it- the party of no ideas just loves to criticize those attempting to make improvements.
Actually Paxil, you said it yourself...Obama stole Romney's health care plan for Mass, and he stole Rubio's plan on immigration. That Obamacare was rushed through as a means to a political end should scare you witless, oops, you're already there.
mlk boner- rubio immigration plan? The Dream Act passed Congress. It had 55 votes in the Senate but was filibustered in 2010. Obama ran on health care in 2008. The dems thinking using a Republican plan Might be an approach to bi partisanship. But who knew the Republican party is in revolt and Republican plans pre 2008 are now forbidden and evidence of Rino thoughts.
Do you people even know any facts?
Paxil, Do YOU know any facts ?
Here is a FACT for you to munch upon .... the term "Congress" includes both legislative bodies, the House of Representatives AND the Senate. So your statement above is false from the start.
But then it is rather amusing that you desperately try to act like you know so much more than anybody else and you like to declare your "OPINIONS" as "facts". Take another paxil, you are still floundering.
Jim- the election was Nov 2010.The teaparty came in jan 2011. The House had already passed the Dream Act and the Senate did also in 2010.
Jim- do you know anything?
Exhibits A thru C re my earlier note about hysteria and vitriolic attacks.
The Dream Act was more like a nightmare after the Democrats attached tax increases to it.
gee Jim- guess you didnt get your facts straight and you have a limp assed attack of the tax increase. It passed the damm Congress only to be FILIBUSTERED. 180+ and counting. The highest number in the 223 year history of our country.
Paxil and Jim need to get a room.
mlk yeah maybe you would need aca, but atleast NOW you will be able to AFFORD insurance and the ins company cant turn you down for pre excisting conditions!
Great comment here on Obama today & why he should lose (needs to read up on Reagan!)
Obama likes to pretend he is as great as Reagan when he is not pretending he is as great as Abe Lincoln himself. He reminds me more of Jimmy Carter with his incompetence.
Really? Regan is revered, he certainly wasn't a great president, David. The Godfather of Trickle Down Theory. And you Republicons still want to go down that road. That's rich.
Reagan had his moments. He was best known for helping "tear down this wall" in Berlin, but outside of that he raised, let me say again, RAISED taxes not once, or twice, but 11 times!
You probably shouldn't have brought him up....
Reagan lowered the top tax rate from 70% to 39% and paid for it by eliminating credit card interest deductions and placing caps on medical and charitable contribution deductions. He did grow the economy but he did it with the biggest peace time increase in military spending in history tripling our debt. Reagan was a great president by raising taxes on the middle class to give the rich a break and massively increasing our debt?
Hey MSNBC: Your "Decision '12' Headlines" and "More Political News" are basically the same headines/stories twice!! Slow news day??
BTW Job1, I have have respect for "the office" of the president and what that is supposed to represent. I just have lost any respect I might have had for the person currently holding the office. Bush 2 was higher on my respect-o-meter -- but not by much!
lets see lying our nation into war, being the only President to lower tax rates while entering a war, increases medicare expenditures without any corresponding offset on revenue and he places just below Obama on your respect-o-meter?
Obama reacted, Bush 2 acted- he never HAD to do any of the things he did. How many jobs were lost between Sept 2008 and Jan 20, 2009 again?,
Bill Clinton and Madeleine Albright used the terms "Weapons of Mass Destruction" quite a few times .... long before Bush was elected. Are you saying they BOTH lied ? Furthermore, Congress voted FOR the war .... including positive votes from Hillary Clinton and John Kerry. Any more hollow claims ?
jim- someone can use the same term referring to different events. I assume you are referring to the serbs on your comments.
yes many dems voted for the war but the degree of false information emanating from the white house, and especially the neo cons who prior to the election called for the invasion and finishing off of Sadamn made the expansion of the war almost a forgone conclusion
Paxil, As usual, your A$$umptions are wrong. Furthermore, Congress was allowed to see the same information the White House had on WMD's. You are spinning yourself like a top ..... take another paxil !
Jim- the spinner is you. Bush lied hundreds of thousand died. From the yellow cake lie in his state of the union address. To Scotter Libby committing purjury to cover up their sorry ass. Like Bush being unwilling to testify on the 9/11 commission unless he could hold Cheney's hand.
Carole, your respect-o-meter is certainly broken. Fix it.
Bush was notorious for pushing anyone from his inner circle who didn't support his assumptions Saddam had WMD. The following piece of an analysis of CIA'S analysis on WMD in Iraq.
It had taken just one day for the team
assembled at the CIA to trip over the fault line dividing the Bush
administration. For months, the vice president's office and the Pentagon had
been more aggressive than either State or the CIA when it came to making the
case against Iraq.
Veteran intelligence officers were
dismayed. "The policy decisions weren't matching the reports we were reading
every day," says an intelligence official. In September 2002, U.S. News has
learned, the Defense Intelligence Agency issued a classified assessment of
Iraq's chemical weapons. It concluded: "There is no reliable information on
whether Iraq is producing and stockpiling chemical weapons . . . ." At about the
same time, Rumsfeld told Congress that Saddam's "regime has amassed large,
clandestine stockpiles of chemical weapons, including VX, sarin, cyclosarin and
mustard gas." Rumsfeld's critics say that the secretary tended to assert things
as fact even when intelligence was murky. "What we have here is advocacy, not
intelligence work," says Patrick Lang, a former top DIA and CIA analyst on Iraq.
"I don't think [administration officials] were lying; I just think they did a
poor job. It's not the intelligence community. It's these guys in the Office of
the Secretary of Defense who were playing the intelligence
community."
carol if i were you i would not let anyone know you respect little b. even the repubs dont mention him.
I am glad to hear that the President is getting a chance to leave Washington. I hope that everyone is impressed with the President's Canadian made buses that the federal government had to borrow money to pay for. The President needs to address his promise to the American people that the 2012 federal deficit will not exceed 229.27 billion dollars yet his own White House has predicted that the 2012 federal deficit will exceed 1.3 trillion dollars. The more than 1 trillion dollars that the federal government is having to borrow in 2012 will end up costing the tax payers, I estimate, more than 9 trillion dollars before it is all paid back in 170 years. I assume that the tax payers that he is speaking with will really like the idea. I am sure that the tax payers will also like the idea that the President's White House is predicting huge deficits for at least another decade that the tax payers are going to have to pay for. The White House predictions could be wrong as they were with the stimulus. So instead of hope and change our future is now a big gamble. Hopefully the President will remember to brag about the increase in the annual trade deficit that has occurred during his administration. All hail the Chief!
That's funny? How long did it take Clinton to produce a surplus from the previous Republicon spending sprees?
Big gamble? As big as Etch-A-Sketch as the POTUS? Nothing bigger than that!
This is clearly about winning votes, and nothing else. Why else would the apologizer in chief be ranting about ANY foreign government instead of cow-towing and ass-kissing? I'd be willing to bet that he called the Chinese premier to tell him that he was going to say something and to "just give me time," that he'd take it all back after he was elected... Honest...
Mr. Romney doesn't like China thinks they will attack their biggest customer - like thoes tea-tards, no corporations in China to "take over" and they have "Maotsecare."
We haven't built busses in America in years. Those jobs are now in Canada and Europe.
exlax ETCH-A-SKETCH is dumb as a box of rocks! He said our illustrious President Obama is appealing to the BLUE-COLLAR WORKERS! Who does this jerk thinks he's referring to? It's the 99% American People! President Obama doesn't give a damn about exlax ETCH-A-SKETCH'S ONE-PERCENTERS! EXLAX doesn't even know how to get a vote! How in the hell could he possibly lead our country when he makes stupid statements that actually takes away votes!! He might be a MORMON, but he's also a MORAN!
99% American People, vote 100% STRAIGHT DEMOCRATIC & let's rid our selves of these corrupt Republican corporate political puppets like exlax ETCH-A-SKETCH!
You're one of the reasons President Obama is going to lose this election. If you can't say anything intelligent don't say anything at all.
And by intelligence, your contribution is to point out what? You didn't have anything intelligent to add either, but I do. Obama isn't going to lose anything. Obama will more than likely get close to 300 electoral votes. My intelligent observation by latest polling figures.
How is that for intelligent?
OBAMA 2012
Exactly when is the left wing of the left wing going to take any responsibility for this nightmare of an economy. Their glorious leader has been in office 3.5 years. They complain the republicans are obstructionists, to which I reply, Thank God!!
Does the Uber left actually believe that if Obama had even ONE good idea to improve the economy, he wouldn't have received bipartisan support? Instead, Obama's entire term has been spent on divisiveness and growth of government.
He truly has no idea how to run the railroad, does not understand business, and has surrounded himself with like thinkers (using "think" loosely) who also have no basic understanding of what makes this country go forward.
He's pandered to every socio economic group in the US, living up to the old adage...15 votes here...20 votes there...pretty soon we're talking real numbers! On his pander list, I can only hope my dog is ahead of the neighbors cat...but I expect both of them will hear from Mr Obama soon.
At this moment, after 42 years of moving forward...dirt poor to middle class...by the sweat of my own brow, I have never been so pessimistic about our future.
We must wake from our nightmare. Vote for Romney, or vote for my dog...either could do a better job than Obama.
Ummm.... probably when the right wing of the right wing in the House takes full responsibility as being obstructionists!
Sheesh, in that picture, Obama looks possessed again. He looks that way quite often.
Does President Obama ever say anything or do anything that is NOT politically motivated? The issue of China not playing fairly has been discussed since the Republican debates and Romney said very clearly that China needed to be held to account for unfair practices. It's taken President Obama this long to finally make a statement about the situation with China. Lest we all forget President Clinton is the one we can thank for the Chinese Trade Agreement in which he proclaimed it would create millions of American jobs.
You think Romnuts is going to do anything about China? LOL And the CTA did create millions of jobs, Walmart? Apple? Hello?
Oh, yeah. He makes a statement like he is for the American economy and going to get tough on China but at the same time he has contracted our infrastructure repair to the Chinese instead of American companies. Just like every success we have in the Middle East. Then he turns around and throws a bone to the Muslims. After getting OBL he outs the doctor. He allows a drone to be lost in Iran. Leaves millions of dollars of ammo and weapons in Libya. Claims to have deported more illegals than ever at the same time he is allowing illegals to stay here. He throws a crumb to us, a crumb to the Muslims, the Chinese, the illegals. If only he would concentrate on doing what is best for America but too late. He'll be voted out in Nov. Too bad no one will convict him for the traitor he is.
We want to mess with China for taking our industrial production with the help of the Mitt Romneys in the business investment world shutting down our factories, everyone go out to the stores you buy at and look at the goods you buy. Let's all plan to buy as little stuff from China and any other country but especially China for the next one to two years. Plan ahead, we also can pool our stuff we have already that we can share, give away stuff or sell it cheap in a garage sale you hold but the goal is to minimize imports from China. Do that and tell our banks we want to have them invest in our industries here, and if that means building factories as quick as we can to replace that stuff that is shipped across the Pacific so be it, let's build those factories here again. Obama and congress do what you say you can to support that building of factories here by making the regulations and taxes reasonable at least to get started, and I bet we can replace 90% of our imported stuff in 2 years!!!
And you think the banks will listen to us? Hell, our own politicians don't listen to us.
Never forget what BUSH gave him
Worst economic conditions since the Great Depression
Luckily 6/10 people know this. Who are the other 4?? More like "what" are the other 4.
+1
This didn't happen overnight. It's been happening over the past 15-20 years, but the economy was kept going by middle class Americans tapping into the equity on their homes until they were completely tapped out.
It shouldn't be all about Democrats or Republicans!
It should be about doing the right thing for our country and the majority of its citizens. I consider myself an independent voter, but going back to the Reagan days and with the only exception having been Perot, I’ve always voted Republican. But all this single-minded, left versus right, ideological one dimensional bull has got to go! This is the problem with our country. It shouldn't be about Democrats or Republicans! It should be about Americans, especially our elected officials, doing the right thing for our country and its citizens.
Both parties have sold out the bulk of the American citizens, who they're supposed to represent, by allowing the "out-sourcing" floodgates to open wider and wider without taking any sensible measures to stem the tide. (Under Clinton jobs to China, Under Bush I & II influx of illegals or cheap easily abused labor into the US and jobs to Mexico/NAFTA) Our leaders are elected by the Citizens of the United States of America to represent the interests of those citizens and the country itself. They are NOT elected by the Global Market Place or foreign citizens!
We need whoever wins the next election to Start Protecting American Jobs and do whatever it takes to bring back the jobs they let go. They've got to give us somebody who will stand up for the American people.
We need to bring manufacturing back to the United States of America and both parties are ignoring tariffs as a way to level the playing field, raise money and bring jobs back home. Let's guess why. Oh that's right, tariff is a dirty word. Hum, maybe it’s that our so called leaders (political leaders) are beholden to the same people who are exporting our jobs.
I guess we should keep letting Corp Boards, Wall Street, CEOs and Foreign Lobbyists promote sending US jobs to countries where they work for slave wages, no benefits, no OSHA safety standards or no real environment regulations. How's that been working for us?
The so called “Global Market Place” is not a level playing field. Companies may have made higher profits by "out sourcing", but they've been putting middle class Americans who are a good part of the world’s customer base out of work. I’m not a lefty or member of any union. I run a business that employs over 20 people and produces products that are purchased by customers that do manufacturing and packaging. I’m just an average Joe, but I've been saying this for more than 10 years now. If I can see it, so can our so called leaders (political leaders) who are beholden to the same people who are exporting our jobs.
We need to add tariffs that are proportionate to the inequities in wages and regulations in the country where the goods were produced and or where we’re importing them from. We could then use the money raised by these tariffs to help companies build state of the art manufacturing plants here in the USA, which would create more jobs here at home for US citizens, which would then in turn increase our income tax revenue.
The people with all of the excuses as to why we can’t or aren’t willing to manufacture products here in the US are the same people who have provided us with the thinking that’s gotten us into this mess in the first place.
Over the past 15-20 years, I've seen too many of our customer's close manufacturing plants here in the USA and move those plants to different countries, decimating entire areas here in OUR COUNTRY. And I'm not alone. Returning jobs to American Citizens will provide income tax revenue to OUR Government versus our government having to pay unemployment benefits to those who would be jobless instead.
Bringing manufacturing back to the US not only gives jobs to the US citizens who would be working in those manufacturing facilities, but to the people that would be working in the businesses that would spring up all around them. This should also include the safe harvesting, production and distribution of our own natural energy here in the USA, rather than paying for fuel from countries where they hate us. Let’s keep that money and those jobs here in the US.
These so-called “free trade agreements” have to go. It was obvious when they were passing these agreements as to what was going to happen and sure enough it did. Our leaders had to have known this as well when they were passing these bills. It’s just common sense. We also need to bring customer support services back to the United States of America and staff them with employees who are US Citizens.
The “Global Market Place” is not a level playing field! The whole idea of the tariffs is so we can pay our factory workers a decent wage and not be blown out by these other countries where they don’t play by the same rules.
We may have to pay a bit more for products made here in the USA by US citizens, but at least we'll still have jobs and a future for our children.
The bottom line is that “Our Government” has to protect American industry and the jobs that those industries provide. If they do that, the rest will take care of itself.
All this single-minded, left versus right, ideological one dimensional bull has got to go!
This is the problem with our country.
It shouldn't be about Democrats or Republicans!
It should be about Americans, especially our elected officials, doing the right thing for our country and its citizens.
Check this site out: economyincrisis.org
economyincrisis.org/content/protectionism-matter-self-survival#comment-6632
economyincrisis.org/content/unethical-predatory-practices
Too bad we'll never see these types of articles in the mainstream media
You make some real valid points, however, this is exactly about the left and the right, since it is the ideals of each that have polarized us to the point that there are more independents than ever.
Having said that, are you for the efforts of OWS and the 99%, the middle class, the rights of women's health, the rights of LGBT's , the right to collectively bargin, et. al., or are you for hoarding profits overseas, cut and slash in austerity oblivion, revenue suppression, and ultimate no-governence?
This is the fight! Lets hope that the 60% that Rob is referring to actually goes out and votes in November!
OBAMA 2012
You are 100% right. I changed my registration from Democrat to Republican because I am so disgusted with the Democrats. They went along with everything Obama wanted even when it wasn't the right thing for our country. If the Republicans don't immediately start doing what the America people want, I will actively get behind a third party to oust Democrats and Republicans. We don't deserve to be treated the way we are by both parties and they don't deserve the good people of America putting their hopes on them.
This didn't happen overnight. It's been happening over the past 15-20 years, but the economy was kept going by middle class Americans tapping into the equity on their homes until they were completely tapped out.
It shouldn't be all about Democrats or Republicans!
It should be about doing the right thing for our country and the majority of its citizens. I consider myself an independent voter, but going back to the Reagan days and with the only exception having been Perot, I’ve always voted Republican. But all this single-minded, left versus right, ideological one dimensional bull has got to go! This is the problem with our country. It shouldn't be about Democrats or Republicans! It should be about Americans, especially our elected officials, doing the right thing for our country and its citizens.
Both parties have sold out the bulk of the American citizens, who they're supposed to represent, by allowing the "out-sourcing" floodgates to open wider and wider without taking any sensible measures to stem the tide. (Under Clinton jobs to China, Under Bush I & II influx of illegals or cheap easily abused labor into the US and jobs to Mexico/NAFTA) Our leaders are elected by the Citizens of the United States of America to represent the interests of those citizens and the country itself. They are NOT elected by the Global Market Place or foreign citizens!
We need whoever wins the next election to Start Protecting American Jobs and do whatever it takes to bring back the jobs they let go. They've got to give us somebody who will stand up for the American people.
We need to bring manufacturing back to the United States of America and both parties are ignoring tariffs as a way to level the playing field, raise money and bring jobs back home. Let's guess why. Oh that's right, tariff is a dirty word. Hum, maybe it’s that our so called leaders (political leaders) are beholden to the same people who are exporting our jobs.
I guess we should keep letting Corp Boards, Wall Street, CEOs and Foreign Lobbyists promote sending US jobs to countries where they work for slave wages, no benefits, no OSHA safety standards or no real environment regulations. How's that been working for us?
The so called “Global Market Place” is not a level playing field. Companies may have made higher profits by "out sourcing", but they've been putting middle class Americans who are a good part of the world’s customer base out of work. I’m not a lefty or member of any union. I run a business that employs over 20 people and produces products that are purchased by customers that do manufacturing and packaging. I’m just an average Joe, but I've been saying this for more than 10 years now. If I can see it, so can our so called leaders (political leaders) who are beholden to the same people who are exporting our jobs.
We need to add tariffs that are proportionate to the inequities in wages and regulations in the country where the goods were produced and or where we’re importing them from. We could then use the money raised by these tariffs to help companies build state of the art manufacturing plants here in the USA, which would create more jobs here at home for US citizens, which would then in turn increase our income tax revenue.
The people with all of the excuses as to why we can’t or aren’t willing to manufacture products here in the US are the same people who have provided us with the thinking that’s gotten us into this mess in the first place.
Over the past 15-20 years, I've seen too many of our customer's close manufacturing plants here in the USA and move those plants to different countries, decimating entire areas here in OUR COUNTRY. And I'm not alone. Returning jobs to American Citizens will provide income tax revenue to OUR Government versus our government having to pay unemployment benefits to those who would be jobless instead.
Bringing manufacturing back to the US not only gives jobs to the US citizens who would be working in those manufacturing facilities, but to the people that would be working in the businesses that would spring up all around them. This should also include the safe harvesting, production and distribution of our own natural energy here in the USA, rather than paying for fuel from countries where they hate us. Let’s keep that money and those jobs here in the US.
These so-called “free trade agreements” have to go. It was obvious when they were passing these agreements as to what was going to happen and sure enough it did. Our leaders had to have known this as well when they were passing these bills. It’s just common sense. We also need to bring customer support services back to the United States of America and staff them with employees who are US Citizens.
The “Global Market Place” is not a level playing field! The whole idea of the tariffs is so we can pay our factory workers a decent wage and not be blown out by these other countries where they don’t play by the same rules.
We may have to pay a bit more for products made here in the USA by US citizens, but at least we'll still have jobs and a future for our children.
The bottom line is that “Our Government” has to protect American industry and the jobs that those industries provide. If they do that, the rest will take care of itself.
All this single-minded, left versus right, ideological one dimensional bull has got to go!
This is the problem with our country.
It shouldn't be about Democrats or Republicans!
It should be about Americans, especially our elected officials, doing the right thing for our country and its citizens.
Unethical Predatory Practices Imposed on U.S.
April 21, 2012 Thomas Heffner
The United States is in open competition with the same countries from which we buy our goods and finance our government. These countries supply our consumption while simultaneously competing fiercely against our companies in international markets. Nations like India, Japan and China, along with trade blocs like the European Union, rail against “protectionism” in the U.S. because they do not want to have their unfettered access to our market tampered with.
The United States is told that it must oblige to its commitment to “free trade,” not because it is in our best interest, but because it is in our foreign creditors’ best interest. They want the current system to continue unimpeded. Foreign exporters finance our government so the U.S. can continue functioning, and then they make all of their money back through the goods we buy from them. The U.S. government then pays back its finance charges and over time foreign financiers virtually double their investments. The United States is told that it must keep up its end of the “free trade” bargain. Meanwhile other countries skirt the rules, using hostile practices to put our companies out of business and capture sectors of the market.
Other countries limit and restrict the amount of American-made goods flowing into their markets. The United States puts up no such regulations, and is thus flooded with foreign-made goods. The WTO, NAFTA, and other “free trade” agreements favor the foreign producers in this equation, and the United States is not one of them. We are told by these international trade regimes that we cannot and should not protect our own economy. Through “free trade” the U.S. must open itself up to all foreign interests.
Our government has eroded its own regulations regarding capital infusions, mergers and acquisitions, and foreign-takeovers. To make matters worse, all successful American companies are for sale on an open stock market. As a result the United States has lost thousands of companies to foreign takeovers in the past 30 years, and stands to lose even more as the economic crisis deepens. The same cannot be said of other countries, where takeovers are closely regulated and major industrial champions rarely – if ever – get purchased by an interest overseas.
It is inevitable our foreign competitors have economically conquered us. Our fate is sealed. Most Americans do not realize the gravity of the situation because so much of the media attention is directed in favor of the “free trade” system that has bankrupted us. Scholars, politicians, professionals, and others from all walks of life have been indoctrinated into the idea that “free trade” is the best and only way to do business. Our political leaders believe in the whimsical idea, and those that do not preach the fallacies of “free trade” are bought and paid for by major corporate interests and foreign lobbies.
With this arrangement we are inexorably heading into the 21st century as an American colony at full speed. Our experiment with economic freedom, one which has gone on since 1776, is doomed at this rate. It was great while it lasted.
As an economically conquered nation we have no ability to resist this economic and political pressure. Our factories are shuttered and our industries are unproductive. This country imports consumer goods which could and should otherwise be made at home. It exports its wealth, strength, and prestige in exchange.
With no internal capabilities remaining and no strength, we are happy that our colonial masters even give us a job. There are thousands of foreign-owned, American-registered companies in the United States. Many of the automobile factories which presently supply our car market are foreign-owned. Our state, local, and federal governments continue to offer tax breaks and subsidies to these foreign companies in exchange for a few American jobs even after this practice drove our own automakers to the point of dissolution.
In the near future we may find our living standard diminished and our prospects for growth and economic independence dampened. Without any homegrown industries to drive a comeback we will be forced to be content with our diminishing status. While formerly living in the lap of luxury we allowed the greatest economy on earth to fall apart by living on imports and foreign-financed debt. The “me first” mentality which drove this country has pushed us into a crisis from which we will not return, if we do not start fixing our problems now.
i agree. too many greedys. the pie is up for grabs and time is short i guess
It's obvious that the foreign interests are influencing our media as well, just watch the ABC Nightline special on Apple’s iPhone and iPad products being made in China that ends with the biased comment “That you can be the nation that lines up to make these products or the nation the lines up to buy them, but it’s impossible to be both”. What bull crap propaganda! ABC has direct ties to Apple and Foxconn.
Check out: economyincrisis.org
neo nihilist scum all