Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

There will be no recovery as long as Obama is President
Flopping Aces ^ | 09-15-10 | DrJohn

Posted on 09/15/2010 2:02:21 PM PDT by Starman417

3/13/2010

WASHINGTON (AP) - Confronting misgivings, even in his own party, President Barack Obama mounted a stout defense of his blueprint to overhaul the economy Thursday, declaring the national crisis is "not as bad as we think" and his plans will speed recovery.

Barack Obama recently named Austan Goolsbee, the wanna-be comedian, to lead the Council of Economic Advisers. Goolsbee tells America that unemployment will remain high for, well, likely as long as Obama remains President:

"I don't think the unemployment rate will be coming down significantly at any time in the near future," according to POLITICO's Mike Allen.

Obama has described Goolsbee as

"...someone who has a deep appreciation of how the economy affects everyday people,”

Sounds great, if only you could believe it. Goolsbee is just another policy wonk who has zero experience in the real business world. He is the perfect fit for the Obama administration.

But Goolsbee doesn't hold a candle to Larry Summers or Tim Geithner. Summers, a key player in the first stimulus package, is often described as a genius, but his genius seems to lie in his crystal clear hindsight.

He was all for a stimulus package in late 2008, but in 2001 argued against stimulus spending:

"The idea that a huge spending program is the way to stimulate the economy, or the idea that the way to get better at high tech is for the government to take over the technology industries, these kinds of ideas basically have become passe because they've been disproven,"

He is described as foreseeing the mortgage crisis;

“Three months ago it was reasonable to expect that the subprime credit crisis would be a financially significant event but not one that would threaten the overall pattern of economic growth. This is still a possible outcome but no longer the preponderant probability,”

Yet Summers was an architect of that crisis.

In 1998 Brooksley Born, chair of the Commodity Futures Trading Commission, decided that derivatives ought to be regulated but encountered a buzzsaw of opposition:

(Excerpt) Read more at floppingaces.net...


TOPICS: Business/Economy; Politics
KEYWORDS: goolsbee; obama; unemployment

1 posted on 09/15/2010 2:02:23 PM PDT by Starman417
[ Post Reply | Private Reply | View Replies]

To: Starman417
Jim Jones to followers: Keep drinking the kool-ade people it's not as bad as you think.
2 posted on 09/15/2010 2:06:01 PM PDT by Know et al (Spill chock want ketch awl yore miss takes.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Starman417

“declaring the national crisis is “not as bad as we think”

For once, he’s right. It worse!


3 posted on 09/15/2010 2:09:56 PM PDT by rickb308 (I love watching libruls heads explode as they see their dogma run over by their karma.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Starman417

This is predictable based on the failure of Cuba to have an economic recovery for 70 years under Castrati


4 posted on 09/15/2010 2:15:22 PM PDT by gusopol3
[ Post Reply | Private Reply | To 1 | View Replies]

To: gusopol3

oops, sorry, 50 years, it just seems like 70


5 posted on 09/15/2010 2:16:23 PM PDT by gusopol3
[ Post Reply | Private Reply | To 4 | View Replies]

To: Starman417

Photobucket


6 posted on 09/15/2010 2:21:54 PM PDT by FrankR (Standing up to TYRANTS is the only thing that will stop the onslaught of TYRANNY.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Starman417

0bummer’s promises have degenerated to things are not as bad as they seem.


7 posted on 09/15/2010 2:47:44 PM PDT by luvbach1 (Stop Barry now. He can't help himself.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Starman417

There will be no recovery as long as Democrats control Washington.


8 posted on 09/15/2010 3:05:57 PM PDT by pallis
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson