What happened to all of the doom and gloom economic threads?

[NeverEndingMe]

the obama, "yes we can" -> not do a damn thing

When he ran for the presidency in 2008, Barack Obama sprinkled his campaign speeches with ambitious catchphrases such as “the fierce urgency of now” and “yes we can.”

Nowadays, as he gears up for his re-election campaign, prepares a much-anticipated address on the economy to Congress and confronts some of the worst polling numbers of his presidency, President Obama has been trotting out a stump speech with a far less lofty message for voters: You expected too much from me.

“When I ran in 2008, I think that a lot of folks believed we elect Obama and suddenly we’re going to fix politics in Washington,” the president told a group of wealthy donors Aug. 11 in New York City in one typical passage. “And then, after 2 years, it’s been tough and there have been setbacks. It turns out that there are a lot of bad habits that have been built up over time [in Washington], and we’re also a big, diverse country and not everybody agrees with me.”

Referring to deliriously happy supporters on election night 2008 in Chicago, the president told Democrats in Miami this summer, “I tried to warn people, I explained to them: This isn’t the end, this is just the beginning. We weren’t going to be able to do it in a day or a week or a year or maybe even not in one term.”

The president’s attempt to dampen expectations retroactively is calculated, given a national unemployment rate that remains above 9 percent after his $821 billion economic recovery program. But observers are struck by the oratorical downshift in the candidate who revved up so many audiences with powerful speeches three years ago.

President Obama greets Hector Sealey (center), safety director for Ft. Myer Construction Corporation, and AFL-CIO President Richard Trumka (right) after speaking at the White House on Aug. 31, 2011, to urge Congress to pass a federal highway bill. (Associated Press)
“It’s almost as if he’s moving in reverse,” said Stephen Hess, an analyst on the presidency at the Brookings Institution. “People usually get better at giving speeches, not worse.”

In 2008, Mr. Obama’s speeches “held tens of thousands spellbound,” Mr. Hess said. “But it’s very hard to find a very strong speech he’s given since he’s been in office.”

 

[busybody..]

Re: Zero Jobs Created in August


. . . and yet we took in 100,000 foreign workers last month.




This Bad Jobs Report Is Worse Than It Seems


By Kevin A. Hassett

Job creation ground to a halt in August, and the U.S. is now clearly sputtering toward a recession. Downward revisions to prior months make this bad report worse than it seems.

It might be that this jobs report stimulates the Obama team to drop all the Keynesian nonsense, but I doubt it. Frankly, I expect Obama’s jobs speech to be the worst presidential speech in my lifetime. Their position throughout this recovery has been that the U.S. can have the highest corporate tax on earth, a big regulatory crackdown, and a vast expansion of labor-union power, and still expect a positive jobs story because of cash-for-clunkers and green jobs. This jobs report indicates how much damage that view has done.

— Kevin A. Hassett is director of economic-policy studies at the American Enterprise Institute.




I await the inevitable

Do you know who Hasset is?

AEI is?

Comon POON and UD, dont fail me now

 

[RightField]

This whole attitude shown by Obama and the Demcrats (and echoed by the press) is alarming if you really think about it.

• They spend $4T in new deficit spending in 3 years without having a supporting revenue stream for all that new spending.
  
• The new spending doesn't grow the economy as they expected (that it wouldn't provide any real benefit was something most other people could plainly see though) so there's no new tax receipts from economic growth
  
• They recognize that the huge deficits that they're incurring is harming the economy and reluctantly have to address it.
  
• Obama calls for large new taxes (that only address 5% of his annual overrun) (he euphamistically calls it a "balanced" approach)
  and when Congress balks at large new taxes he says "Washington is Broken" and something has to be done it.
  
  
  Are they trying to say that they should be able to raise spending and taxes any time they feel like without having a dissenting voice "getting in the way"?
  

I say that its time to bring in a new Executive team (President) who will reign in Obama's wild spending (much of which has been wasted on cronyism).

 

[RightField]

Why is it that we get bad news on Obama's economy every month.....and the bad news is accompanied by the side text "and previous month's figures have been downgraded too".

Why does the administration (the people who do the calculations for the President) always have to retroactively downgrade the figures later. Are they trying to make them look better than they really are in each new month and then go back and adjust them downwards later when there's less attention?

It happened just the opposite way when Bush was President. The figures would come out low and the democrats would bemoan how bad it was to have Republican leadership and the scandelous 5% unemployment....and then later the bookkeepers would go back and retroactively improve the figures.

 

[RightField]

Why is it that we get bad news on Obama's economy every month.....and the bad news is accompanied by the side text "and previous month's figures have been downgraded".

Why does the administration (the people who do the calculations for the President) always have to retroactively downgrade the figures later. Are they trying to make them look better than they really are in each new month and then go back and adjust them downwards later when there's less attention?

It happened just the opposite way when Bush was President. The figures would come out low and the democrats would bemoan how bad it was to have Republican leadership and the scandalous 5% unemployment...and how bad low taxes, low regulation and restricted civil government spending were....and then later the bookkeepers would go back and retroactively improve the figures.

 

[koalabear]

US job growth was stagnant in August

No net jobs created; jobless rate stuck at 9.1 percent.


Updated: 09/02/2011 11:00 ET
DOW 11,291.39 -202.18

 

[NeverEndingMe]

and now we wait for camp obama, to come up with ways on "how do we blame this round of bad news on Bush"

Why is it that we get bad news on Obama's economy every month.....and the bad news is accompanied by the side text "and previous month's figures have been downgraded too".

Why does the administration (the people who do the calculations for the President) always have to retroactively downgrade the figures later. Are they trying to make them look better than they really are in each new month and then go back and adjust them downwards later when there's less attention?

It happened just the opposite way when Bush was President. The figures would come out low and the democrats would bemoan how bad it was to have Republican leadership and the scandelous 5% unemployment....and then later the bookkeepers would go back and retroactively improve the figures.

 

[NeverEndingMe]

US job growth was stagnant in August

No net jobs created; jobless rate stuck at 9.1 percent.


Updated: 09/02/2011 11:00 ET
DOW 11,291.39 -202.18

college kids could create many drinking games with the obama regime.

for instance, every time the dow plummets, take a drink

every time the obama blames Bush, take a drink

this part of the stimulus brought to you by the Happier America through booze campaign

 

[koalabear]

college kids could create many drinking games with the obama regime.

for instance, every time the dow plummets, take a drink

every time the obama blames Bush, take a drink

this part of the stimulus brought to you by the Happier America through booze campaign

We would better off if Oblamers economic team played the game and stayed drunk.

 

[unregistered]

 

[koalabear]

It's all part of UD's hallucinatory recovery.

He will send in MercMORON to explain it all.

 

[busybody..]

It's all part of UD's hallucinatory recovery.

he will post CHARTS!!!!!!!!!!!!!!!!

 

[Ulaven_Demorte]

It's fun to see the collective amnesia of the "right" when it comes to the economy. Now what happened that would have negatively affected the economy in August?
Hmmm......



It couldn't possibly have been the House GOP playing chicken with the debt ceiling, causing the U.S. credit rating to be downgraded.


Naaaaah..

 

[busybody..]

RECOVERY BUMMER (CONT’D): No Jobs Added In August. “The weakness in employment was underscored by revisions to the jobs data for June and July. Collectively, those figures were lowered to show 57,000 fewer jobs added.”

UPDATE: “It was the first time since World War II that the economy had a net zero jobs created for a month.” Hey, they don’t call him President Zero for nothing.

And note this: “Mr. Ryan chided the administration—which once predicted that the 2009 stimulus bill would hold unemployment under 8%—for now projecting that unemployment would remain higher than 8% for the remainder of Mr. Obama’s current term.” Yes, it’s good to keep pointing out that the stimulus bill didn’t deliver on Obama’s promises. Obama lied, the economy died!

And look at the horrific 16.7% number for black unemployment:

 

[koalabear]

It's fun to see the collective amnesia of the "right" when it comes to the economy. Now what happened that would have negatively affected the economy in August?
Hmmm......



It couldn't possibly have been the House GOP playing chicken with the debt ceiling, causing the U.S. credit rating to be downgraded.


Naaaaah..

Explain why there were no jobs when the libs controlled both houses, IDIOT.

 

[koalabear]

RECOVERY BUMMER (CONT’D): No Jobs Added In August. “The weakness in employment was underscored by revisions to the jobs data for June and July. Collectively, those figures were lowered to show 57,000 fewer jobs added.”

UPDATE: “It was the first time since World War II that the economy had a net zero jobs created for a month.” Hey, they don’t call him President Zero for nothing.

And note this: “Mr. Ryan chided the administration—which once predicted that the 2009 stimulus bill would hold unemployment under 8%—for now projecting that unemployment would remain higher than 8% for the remainder of Mr. Obama’s current term.” Yes, it’s good to keep pointing out that the stimulus bill didn’t deliver on Obama’s promises. Obama lied, the economy died!

And look at the horrific 16.7% number for black unemployment:

But those figures are subject to further revision, downward.

 

[unregistered]

 

[busybody..]

..Obama halts controversial EPA regulation



By DINA CAPPIELLO - Associated Press,



..
..WASHINGTON (AP) — President Barack Obama on Friday scrapped his administration's controversial plans to tighten smog rules, bowing to the demands of congressional Republicans and some business leaders.

Obama overruled the Environmental Protection Agency and directed administrator Lisa Jackson to withdraw the proposed regulation to reduce concentrations of smog's main ingredient, in part because of the importance of reducing regulatory burdens and uncertainty for businesses at a time of rampant uncertainty about an unsteady economy.

The announcement came shortly after a new government report on private sector employment showed that businesses essentially added no new jobs last month — and that the jobless rate remained stuck at a historically high 9.1 percent.

The withdrawal of the proposed regulation marks the latest in a string of retreats by Obama in the face of Republican opposition. Last December, he shelved, at least until the end of 2012, his insistence that Bush-era tax cuts should no longer apply to the wealthy. Earlier this year he avoided a government shutdown by agreeing to Republican demands for budget cuts. And this summer he acceded to more than a $1 trillion in spending reductions, with more to come, as the price for an agreement to raise the nation's debt ceiling.

A spokesman for House Speaker John Boehner, R-Ohio, had muted praise for the White House, saying that withdrawal of the smog regulation was a good first step toward removing obstacles that are blocking business growth.

"But it is only the tip of the iceberg when it comes to stopping Washington Democrats' agenda of tax hikes, more government 'stimulus' spending, and increased regulations, which are all making it harder to create more American jobs," Boehner spokesman Michael Steel said

 

[RightField]

It's fun to see the collective amnesia of the "right" when it comes to the economy. Now what happened that would have negatively affected the economy in August?
Hmmm......



It couldn't possibly have been the House GOP playing chicken with the debt ceiling, causing the U.S. credit rating to be downgraded.


Naaaaah..

No, actually it was the democrat refusal to reduce the level of increased spending that they've added over the past three or four years. The whole debt debate was Obama's bemoaning the "broken" Congress when they refused to go along with his tax increases as a salve for the ill economy (that he euphamistically called the "balanced" approach). Now he's still got annual overruns of over $1T and he's pouting about it and looking for someone to blame instead of recognizing the situation and doing something about it.

The dems had supermajorities in congress until recently, they could have avoided debate and discussion about the whole increased tax concept back then, but they avoided the discussion on a political calculation to try to retain a couple seats in Congress in the 2010 elections. If they'd had the tax increase discussion last summer, they probably would have lost even more seats and Obama would have been facing the same kind of Congress that Clinton had (which would have been a lot better for the country).

The dems spent too much and they want to keep spending large amounts of money and their only plan is to increase taxes dramatically to pay for it. The republicans want him to reduce spending and use tax increases only as a last resort. THAT's what the debt discussion was about and that's in large part what the next election will be about.

Their new "jobs" plan will be more of the same....they'll say we have to spend more (on democrat special interests) in order to break free from the economic malaise. They're in a casino and they've bet recklessly all through their term and now the night is drawing to a close and they're going to cash in the title to the car for one last fling at the roulette wheel in a last ditch effort to win it all back. I say no. Take your losses and lets get back to working, planning and being smart instead of throwing what little we have left in a big gamble that's failed time and time again (because in Obama's roulette wheel of wasteful spending, there is no winning number).

 

[Ulaven_Demorte]

It was the Democrats not wanting to acknowledge the last election and vote for cut cap and balance when it was presented to the Senate, had they done so the downgrade wouldn't have happened.

That duck was dead long before it ever got to the Senate. The simple fact is that the House wasted several days pushing through a bill that they KNEW would never pass the Senate in a million years.

Who's fault is it if you're told, without hesitation that your proposal will never be signed off on, if you waste your time ramming it through the House?

 

[busybody..]

INSPECTOR GENERAL: Individuals Who Are Not Authorized to Work in the United States Were Paid $4.2 Billion in Refundable Tax Credits.

 

[Ulaven_Demorte]

No, actually it was the democrat refusal to reduce the level of increased spending that they've added over the past three or four years. It was Obama's bemoaning the "broken" Congress when they refused to go along with his tax increases as a salve for the ill economy (that he euphamistically called the "balanced" approach).

The dems had supermajorities in congress until recently, they could have avoided debate and discussion about the whole increased tax concept back then, but they avoided the discussion on a political calculation to try to retain a couple seats in Congress. If they'd had the tax increase discussion last summer, they would have lost even more seats and Obama would have been facing the same kind of Congress that Clinton had.

You should tell S&P to revise their report detailing why they downgraded the U.S. Credit rating. They obviously didn't get your memo.

 

[busybody..]

That duck was dead long before it ever got to the Senate. The simple fact is that the House wasted several days pushing through a bill that they KNEW would never pass the Senate in a million years.

Who's fault is it if you're told, without hesitation that your proposal will never be signed off on, if you waste your time ramming it through the House?

***points and laughs at your stupidity***

 

[busybody..]

..Obama halts controversial EPA regulation



By DINA CAPPIELLO - Associated Press,



..
..WASHINGTON (AP) — President Barack Obama on Friday scrapped his administration's controversial plans to tighten smog rules, bowing to the demands of congressional Republicans and some business leaders.

Obama overruled the Environmental Protection Agency and directed administrator Lisa Jackson to withdraw the proposed regulation to reduce concentrations of smog's main ingredient, in part because of the importance of reducing regulatory burdens and uncertainty for businesses at a time of rampant uncertainty about an unsteady economy.

The announcement came shortly after a new government report on private sector employment showed that businesses essentially added no new jobs last month — and that the jobless rate remained stuck at a historically high 9.1 percent.

The withdrawal of the proposed regulation marks the latest in a string of retreats by Obama in the face of Republican opposition. Last December, he shelved, at least until the end of 2012, his insistence that Bush-era tax cuts should no longer apply to the wealthy. Earlier this year he avoided a government shutdown by agreeing to Republican demands for budget cuts. And this summer he acceded to more than a $1 trillion in spending reductions, with more to come, as the price for an agreement to raise the nation's debt ceiling.

A spokesman for House Speaker John Boehner, R-Ohio, had muted praise for the White House, saying that withdrawal of the smog regulation was a good first step toward removing obstacles that are blocking business growth.

"But it is only the tip of the iceberg when it comes to stopping Washington Democrats' agenda of tax hikes, more government 'stimulus' spending, and increased regulations, which are all making it harder to create more American jobs," Boehner spokesman Michael Steel said

Curiously, this doesn’t mean it’s really dead, not dead-dead:

Mr. Obama left open the possibility that the EPA proposal could be revived later, saying the ozone standard will be reconsidered in 2013.

So the translation is “maybe we should wait until after the election to destroy thousands of jobs and cost the economy billion of dollars.”

 

[busybody..]

You should tell S&P to revise their report detailing why they downgraded the U.S. Credit rating. They obviously didn't get your memo.

you made this all up

with each post

you keep piling more and more shit on yourself