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The Obama Economy (Obama is running out of people to blame)
The Wall Street Journal ^ | March 3, 2009 | Editorial

Posted on 03/02/2009 7:45:01 PM PST by St. Louis Conservative

As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem.

Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth.

The Democrats who now run Washington don't want to hear this, because they benefit from blaming all bad economic news on President Bush. And Mr. Obama has inherited an unusual recession deepened by credit problems, both of which will take time to climb out of. But it's also true that the economy has fallen far enough, and long enough, that much of the excess that led to recession is being worked off. Already 15 months old, the current recession will soon match the average length -- and average job loss -- of the last three postwar downturns. What goes down will come up -- unless destructive policies interfere with the sources of potential recovery.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Editorial; Miscellaneous; News/Current Events; Philosophy
KEYWORDS: bailout; bho44; bhoeconomy; economy; hopeychangey; obama; stimulus; zero; zeronomics
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To: Wiseghy

The WSJ newspages are like any mainstream paper - they tend to lean left, however the editorial page is staunchly conservative.


21 posted on 03/02/2009 7:59:56 PM PST by St. Louis Conservative
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To: MamaLucci
They seem preoccupied with going to the barricades against Republicans who wield little power, or picking a fight with Rush Limbaugh, as if this is the kind of economic leadership Americans want.

Rush explained exactly what Present Potato Head and his Ballet Dancer Butt Boy are up to on his radio show today

Rush: Now, it is the Obama people saying that we conservatives have no plan. We are the party of "no." Have you ever heard the name Rush Limbaugh? That would be me and the administration is focusing now, ladies and gentlemen, on rule number 12 of Alinsky's Rules for Radicals: Pick the target, freeze it, personalize it, and polarize it. Cut off the support network; isolate the target from sympathy; go after people, not institutions, because people hurt faster than institutions. Well, I don't hurt. I am not hurt by any of this.

What this is, though, is cruel. It is cruel because it is a game of manipulation emanating from the Oval Office. It is an attempt to distract Americans from the destruction of their ability to earn a living. It is an attempt to distract you from your plunging economy. It is an attempt to distract you from your ability to save for retirement and to pursue happiness. See, honest face-to-face discussions and debates are fair.

I gave a speech at CPAC on Saturday, televised my first national address, address to the nation. In that speech were not just illustrations of what's wrong with this administration and liberalism. There were solutions, solution after solution after solution, because conservatism is a solution. None of the things that I said in that speech are being repeated by the Drive-By Media which I knew would be the case, because face-to-face discussions and debates are not going to happen.

Instead, Alinsky's Rules for Radicals number 12 has been employed: Pick the target, freeze it, personalize it, and polarize it.

rushlimbaugh.com

22 posted on 03/02/2009 8:00:16 PM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all. -- Texas Eagle)
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To: MamaLucci

Not in the MSM they are not!

Just wait. this is a disaster of unmitigated proportions and can not be glossed over.


23 posted on 03/02/2009 8:03:36 PM PST by genghis
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To: Texas Eagle

I think the targeting of Rush will either be one huge backfire or the end of him. There is no in between here. I hope for the first.


24 posted on 03/02/2009 8:06:13 PM PST by Anti-Kenyan
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To: genghis
I never underestimate the power of the press to OMIT
news that threatens it's agenda, and far too many
Americans have to be spoon-fed their opinions.
I do hope this article breaks the log jam.
25 posted on 03/02/2009 8:13:14 PM PST by MamaLucci (Shovel Ready: The Democrat's stinking pile of Porkulus........)
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To: Texas Eagle

Oh yes....their agenda is crystal clear.


26 posted on 03/02/2009 8:14:01 PM PST by MamaLucci (Shovel Ready: The Democrat's stinking pile of Porkulus........)
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To: Frantzie

Fox has been very hard on Obama... surprisingly so.


27 posted on 03/02/2009 8:14:45 PM PST by Arizona Carolyn
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To: St. Louis Conservative

He should look in the mirror. Mirror, mirror on the way, “whose the worst President of all??”


28 posted on 03/02/2009 8:16:12 PM PST by ExTexasRedhead
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To: genghis

“Libs are in for a shock when they find out what happens when their policies are implemented.”


I strongly disagree. Liberals know what their misguided policies will do. And that is their desire to DESTROY AMERICA.

0bama hates this country, its founders, its culture, its history, its people.

Liberals will look at the destruction with pride and a sense of accomplishment.


29 posted on 03/02/2009 8:16:36 PM PST by GreyMountainReagan (Liberals do not view the book 1984 as a warning but as a guideline.)
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To: Psycho_Bunny

IBD’s been making this point for weeks, but they’re conservative so they’re ignored.

When the stalwarts like WSJ start the finger pointing, it will require a response.

Hopefully the response will be a positive one. Obama’s approval ratings are sinking fast. They need to do something to stabilize the market, even if it means backing down from some of the most egregious liberal proposals and start talking about tax cuts.

If Obama doesn’t do something soon to turn this thing around, it’s going to be a millstone which will sink his agenda and maybe destroy the rest of his term.


30 posted on 03/02/2009 8:17:06 PM PST by randita (Starve the beast - earn as little as you can get by on and spend even less.)
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To: Texas Eagle

Brass tacks. On main street, people lost their jobs and wonder how the gov will help the recovery. Local gov responds with higher prop, income and sales taxes and fees. Fed gov sends billions and trillions to Wall Street, while main street gets 16 bucks a week?? expiration of Bush taxcuts??? 2010 Dems will lose Congressional seats, because in 2006 and even 2008 they won GOP districts by slim margins. If main streeters do not see job improvements by 2010, Dem Congress is toast. Talk to main streeters, they do not want welfare, they want a JOB!!!!!


31 posted on 03/02/2009 8:18:10 PM PST by Fee (Peace, prosperity, jobs and common sense)
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To: Anti-Kenyan

This crap isn’t going to separate Rush’s fans from Rush. It is just going to make’em all angry.


32 posted on 03/02/2009 8:26:52 PM PST by DB
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To: St. Louis Conservative

Once we run Obama out on a rail, we need to cancel all old issues of currency and print new stuff.

Obama’s and his crook pals have robbed us blind.


33 posted on 03/02/2009 8:28:37 PM PST by Nathan Zachary
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To: DB

It’s designed to separate moderates and independents from the GOP and then marginalize Republicans as “fringe” idiots who take marching orders from Rush Limbaugh. It’s designed to distract from their socialist budget and also politically weaken the GOP si their opposition will be less effective.


34 posted on 03/02/2009 8:31:10 PM PST by St. Louis Conservative
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To: St. Louis Conservative
C'mon now... The Obama administration, such as it is, can't be bothered with little things like putting thought into economic policy or monitoring the effects of their off-the-cuff decisions and socialistic policies. They've got to go after the real threat to the Country - conservative talk radio! And that Limbaugh guy too! :-/

The theater of the absurd rolls on to the next scene...

35 posted on 03/02/2009 8:35:01 PM PST by CodeMasterPhilzar (I'll keep my money, my guns, and my freedom. You can keep the "change.")
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To: Anti-Kenyan
I think the targeting of Rush will either be one huge backfire or the end of him.

Rush is a media personality. America knows that.

Once a President of the United States, be he Democrat or Republican, has decided to fight it out with a media personality, mano a mano, on the same playing field, be it with Rush or Al Franken or Hannity or Michael Moore or Bill O'Reilly or Rosie O'Donnell, that President of the United States has lowered himself in the public eye and has made a fool of himself.

Dan Quayle learned that lesson after picking a fight with Candice Bergen and her "Murphy Brown" character and he was only a Vice President.

36 posted on 03/02/2009 8:35:06 PM PST by Polybius
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To: St. Louis Conservative
Obama is in the midst of creating an economic disaster.

If voters don't turn on him after that, it doesn't really matter anymore. They are too stupid for survival and the country will go down them.

37 posted on 03/02/2009 8:37:50 PM PST by DB
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To: MamaLucci
Hard to believe it's only five weeks since this traitorous commie took office.

It seems more like 5 years of Obama on the TV all day, every day, still giving empty campaign promises.


38 posted on 03/02/2009 8:41:08 PM PST by Iron Munro (Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.)
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To: genghis

“Libs are in for a shock when they find out what happens when their policies are implemented.”

We have two years of absolute terror ahead. With the numbers in Congress and the exceptional maneuvers the Obamunists are willing to deploy in the Senate, we can not hope for anything good.

They won’t care for the suffering. They will point fingers and say black is white and white is black. It’s worked to this point.

Obama has made many statements on the Bush tax cuts countering reality.
That’s not going to stop in any shape or form.

We are in a deep trouble. Only the strength of the American people and the economy can maybe override it. For a short time.


39 posted on 03/02/2009 8:42:15 PM PST by romanesq
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To: genghis

“Libs are in for a shock when they find out what happens when their policies are implemented.”

We have two years of absolute terror ahead. With the numbers in Congress and the exceptional maneuvers the Obamunists are willing to deploy in the Senate, we can not hope for anything good.

They won’t care for the suffering. They will point fingers and say black is white and white is black. It’s worked to this point.

Obama has made many statements on the Bush tax cuts countering reality.
That’s not going to stop in any shape or form.

We are in a deep trouble. Only the strength of the American people and the economy can maybe override it. For a short time.


40 posted on 03/02/2009 8:42:15 PM PST by romanesq
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