Fearmonger-In-Chief Enters Stage (HARD) Left
Until President Obama stops with his hyperbolic rants that we’d better pass his stimulus package or fear spiraling downward into an irreversable recession, I’ll keep calling him the Fearmonger-In-Chief. According to this article, the Fearmonger-In-Chief is at it again:
“This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse,” Obama wrote in the newspaper piece titled, “The Action Americans Need.”
First, let’s just establish the fact that this legislation doesn’t create jobs. If ANY jobs get created between now and the midterm elections, it’s more likely because this legislation didn’t pass or they were created in spite of this legislation.
REPEAT AFTER ME:
This is not a jobs bill. It’s a political payoff.
This is not a jobs bill. It’s a political payoff.
This is not a jobs bill. It’s a political payoff.
This is not a jobs bill. It’s a political payoff.
There. Now that we’ve settled that, let’s get down to dissecting President Obama’s latest ramblings. Saying that there will ever be a recession that we can’t come back from is ignoring the fact that we overcame the Great Depression. Not only did we survive it, we prospered after winning a war. We survived because that’s who we are as a nation.
It isn’t a stretch to think that President Obama is saying these outlandish things either because he’s panicking or he’s saying these things because he actually believe what he’s saying. If it’s the former, he’s just engaging in unadulterated fearmongering. If it’s the latter, it’s because he doesn’t know how to put things together for the good of the country.
Other than the Great Depression, I’d ask historians and economists that could cite the last time a recession that lasted “for years.” I;ve been paying attention to such things since 1972 and I don’t recall recessions that lasted a couple of years in that time.
Newt Gingrich narrated this YouTube video for American Solutions. In it, Speaker Gingrich talks about some of the ‘creative’ ways that the Senate bill, as currently configured, wastes our taxes:
Building new schools in Milwaukee when 21 schools sit empty will jumpstart the economy and create jobs? At what price?
On top of all that, the nonpartisan CBO says that Obama’s stimulus plan does more harm than good:
CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.
CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net. [The House bill] would have similar long-run effects, CBO said in a letter to Sen. Judd Gregg, New Hampshire Republican, who was tapped by Mr. Obama on Tuesday to be Commerce Secretary.
This information gives a whole new meaning to the cliche “Give till it hurts.” Thouogh there aren’t any tax increases in this bill, it’s guaranteed that they’re heading our direction because we can’t continue piling up debt like this.
I’m interested in economists’ opinion on this question:
Would we pull out of this recession faster if we did nothing?
President Obama says stops just short of saying that the world will end if we don’t pass the Political Payoff Bill of 2009. I’d like to know if that’s accurate or if he’s pulling an Al Gore on us.
Technorati Tags: Pork, President Obama, Fearmonger-In-Chief, Al Gore, Recession, Unemployment, Inflation, Debt, Stimulus, Democrats, Newt Gingrich, American Solutions, Republicans, CBO
Cross-posted at LetFreedomRingBlog
February 5th, 2009 at 5:18 pm
We should start another war to get ourselves out of this recession.
February 5th, 2009 at 5:40 pm
I call it the “Polical Donors Reimbursment Act.”
February 5th, 2009 at 9:42 pm
Liem, that’s what our glorious messiah is trying to do: start a war between the have lots/have nots (but figure they’re owed lots anyway), and the normal producers who’re just haves trying to work their way through life honestly. He won the first skirmish by getting elected, he will probably win the first battle (the pork package), but God help us all if he wins the war.
I’m old and won’t have to live under his oppression long, but young turks like you will wake up some morning and wonder why the guvmint shut down your power, or cut off your credit, or makes you wait in long lines for loaves of bread.
Dissent isn’t the most sincere form of patriotism like we’ve been screamed at for the last 8 years, it’s only patriotism if it moves the country forward, or if it prevents the country from egregious error. We conservatives see our dissent of the pork package as trying to prevent an egregious error; libs (in general) are simply p.o.’d that the great unwashed don’t want in on the “free” goodies his holiness (and his uncontrolled minions Reid and Pelosi) is offering.
February 6th, 2009 at 10:36 am
Brow beating corporations and propagandizing profits as immoral during hard economic times is a strange way of encouraging economic recovery, Mr. Liem.
Chastising executives for awarding themselves lavish bonuses is one thing, but to pontificate with the arrogance he showed the other day in a baldfaced attempt to discourage free market forces, and self starting entrepreneural activity, as if the almighty Federal governemnt is the one and only way to recovery, only shows what a self-styled Marxist this fool thinks he is.
He’s got two years. Two years to play around with his aademic theories, because he hasn’t got jack for experience. Eityer he creates a deeper depression or turn this economy around, and he’s already got one strike against him with this trillion dollar political pay off bill, you and your grandchildren will never pay for in a hundred years of socialist econmic planning.
February 6th, 2009 at 12:53 pm
I don’t get it. Why would the government shut off my power, cut my credit, or not sell me bread? I don’t remember reading that as part of the stimulus package.
Conservatives had 8 years in the presidency that included a trillion dollar war and tax cuts that were supposed to trickle wealth to the rest of us. That’s led us to where we are now. If your ideas were the right direction for America, Obama wouldn’t have been elected.
February 6th, 2009 at 5:20 pm
I’m trying desparately not to get into ad hominem attacks here, Liem, but if you weren’t such a blind fool it would be easier to avoid.
First, it was donk/jackass policies, pressures and rules that set us down the road to the economic mess we’re in, coupled with an incredible lack of paying attention by such entities as the SEC.
Second, please explain how, if the guvmint takes one of my dollars and $.50 of it ends up in the economy (because bureaucratic waste takes the other $.50), that helps the economy more than if I keep the dollar, spend $.90 in the economy and save the other dime?
Last, since you obviously can’t connect the dots, I’ll do it for you. The mother of all pork bills, a.k.a. the “Stimulus Package”, will cause the severe lack of anything to pay your power bill with, the severe restrictions on credit and the long lines for bread reminiscent of the ones seen in the failed Soviet Union (following similar socialist policies pushed by our esteemed leader.)
Hundreds of other countries have tried socialist policies and all have failed miserably to keep up with economic advances displayed by the United States in the last two centuries. Some continue to try, and are still failing. What about that track record do you fail to understand?
February 6th, 2009 at 7:12 pm
Mr Liem, you can throw money at the economy all day long. Nothing is going to happen, unless there is confidence on the part of consumers, and producers of goods and services alike that its safe to spend to either buy stuff, or make it. Nothing.
Now why in hell, should Mr. Widget feel like increasing production, if his own President is standing there telling him Not so fast you greedy bastard, Ill tell you when you can make a profit, and how much you can pay yourself.
Why should a banker go out on a limb and loan Widget Inc. any money for plant expansion and startup costs if the govt. is going to dictate when and where they make a profit enough to be able to pay him interest on the money he loans him?
Lastly, why should Joe Plantworker go out and piss away his unemployment check if there is no chance in hell, his old workplace is going to be able to pay him anything, even if it did rehire him because, the jackass he elected for President would rather throw money around at work and feel good crap he doesnt even know how to do, or care about?
Are the dots becoming a little clearer now, just a little?
When you know what the hell your talking about, come back with something constructive other than the twerp headed Bravo Sierra you dug this hole for yourself to begin with.
February 6th, 2009 at 8:02 pm
Carlos: First, you’re saying that the policies pressures and rules set up by Democrats are what caused this economic mess and then you immediately say that because they didn’t set up enough rules, the SEC failed.
Second, I can’t. Your hypothetical situation pulls too many fake numbers out of your butt unless you’re making $100,000. In which case, good on you.
Last, if you’re waiting in line for bread, I think you have bigger problems than to worry about what I think.
February 7th, 2009 at 6:57 am
Liem, go back and read what I actually wrote. I wrote (translated) that guvmint rules and regs were a burden and drag on business, but the reg agencies failed to enforce the rules and regs that were already in place. That doesn’t sound to me that I thought they needed more rules and regs.
Second, how did you do with story problems in elementary/secondary schools? Your response seems to indicate you would have major problems solving even a simple one.
And last, that was almost my point.
February 7th, 2009 at 12:28 pm
TA Gray: So you’re saying what’s needed is more tax cuts to help out the 7.6% of Americans on unemployment?
Carlos: Firstly, I agree that regulations failed to curb the extensive and ludicrous lending. But to say that Democrats were exclusively at fault for failing free market theory means that your conservative blinders are on. Especially when Republicans are more likely to ask for leniency on regulations and Democrats are more likely to ask for more forceful regulation. And don’t forget the last wonderful President your party put in office.
Secondly: So you’re saying in your real life, the government is taking 50 cents for every dollar you earn? If so, that puts you in a fake tax bracket. For those earning $357,701 and above, you get taxed 35%. Therefore I’m not going to waste my time using the numbers you’re pulling out of your butt.
Lastly, when you’re forced to wait in line for government issue bread because you have no other options, you let me know and I’ll beg for forgiveness. Until then, realize that conservative policies have had their run and failed miserably.
The funniest part in all this time is that the conservatives in power have made this country a shit sandwich and are now crying and complaining about how no one wants to eat it.
February 8th, 2009 at 8:45 am
Liem, instead on diverting the discussion to “the numbers (I’m) pulling out of (my) butt” it would be a lot easier for me to be talking to Klingons circling Uranus. They would make more sense, and would actually keep the discussion on topic.
Get a life.