Posted on 09/03/2010 6:42:56 PM PDT by Justaham
Worst. President. Ever.
We can now safely say that Obama is the worst jobs president since the Great Depression. We can also safely say that the Obama-Pelosi Keynsian Economic Plan is one of the worst economic disasters in US history.
The Foundry reported:
By every objective measure, President Barack Obama’s economic stimulus package has been a complete failure. When President Obama was selling his stimulus plan to the American people, he promised it would save or create 3.5 million jobs by the end of 2010. At the time, employment stood at about 134.3 million, according to the Labor Department’s most commonly used measure. That established an Obama jobs target for December 2010 at 137.8 million. According to the latest jobs report, total U.S. employment stood at 130.3 million in August, which means the cumulative Obama jobs deficit stands at 7.5 million.
(Excerpt) Read more at gatewaypundit.firstthings.com ...
Another night of Ramen for dinner, while they munch lobster on another vacation...high-fiving Cloward & Piven.
Voters with short memories would automatically think she's talking about Obama. Then, the ad pulls the proverbial trigger and lists the date, to whom she was speaking (Bush), and what the unemployment rate was back then (<5%).
Then, the ads fades to back with the question, "How's that 'Hope & Change' working out for you, America?"
Somehow we made it through the Volcker 20% interest rates under Reagan.....top tax rate was 50% from 1982-1987....without a Great Depression....
and somehow, we made it through the Savings and Loan crisis when thousands of banks failed......with NO stimulus and two tax increases.......
But Obama and the Democrats still spread their BIG LIE about how they saved us from another Depression....though they have the Bush tax code in place with the lowest tax rates since the Roaring Twenties—and with zero percent interest rates.....and they just can’t understand why they can’t get the economy going....!
They need to get out of the way!
Their policies failed because deficit spending at all levels has crowded out the private sector and made inflation expectations high.
Their policies are aimed at Housing and Car buying, but those are the LEAST likely markets to move because they require cash outlays for down payments and more debt financing....
Who wants to shell out a lot of cash and borrow when he knows that he might not have a job next year!.....?
Also, the States and cities have borrowed to the hilt, raised taxes, and cut spending—all of which undermined whatever good effect from borrow-and-spend economics!
There never was a chance of a Great Depression, because during the Great Depression, taxes went sky high......thousands of banks failed and took peoples’ savings with them———so GDP plunged with the unemployment rate. Government was smaller at all levels.....
But now we have welfare spending, unemployment spending, Social Security spending, Medicare spending.....all sorts of spending to replace lost incomes.......and plenty of spending to make more spending unnecessary......
Somehow we made it through the Volcker 20% interest rates under Reagan.....top tax rate was 50% from 1982-1987....without a Great Depression....
and somehow, we made it through the Savings and Loan crisis when thousands of banks failed......with NO stimulus and two tax increases.......
But Obama and the Democrats still spread their BIG LIE about how they saved us from another Depression....though they have the Bush tax code in place with the lowest tax rates since the Roaring Twenties—and with zero percent interest rates.....and they just can’t understand why they can’t get the economy going....!
They need to get out of the way!
Their policies failed because deficit spending at all levels has crowded out the private sector and made inflation expectations high.
Their policies are aimed at Housing and Car buying, but those are the LEAST likely markets to move because they require cash outlays for down payments and more debt financing....
Who wants to shell out a lot of cash and borrow when he knows that he might not have a job next year!.....?
Also, the States and cities have borrowed to the hilt, raised taxes, and cut spending—all of which undermined whatever good effect from borrow-and-spend economics!
There never was a chance of a Great Depression, because during the Great Depression, taxes went sky high......thousands of banks failed and took peoples’ savings with them———so GDP plunged with the unemployment rate. Government was smaller at all levels.....
But now we have welfare spending, unemployment spending, Social Security spending, Medicare spending.....all sorts of spending to replace lost incomes.......and plenty of spending to make more spending unnecessary......
Somehow we made it through the Volcker 20% interest rates under Reagan.....top tax rate was 50% from 1982-1987....without a Great Depression....
and somehow, we made it through the Savings and Loan crisis when thousands of banks failed......with NO stimulus and two tax increases.......
But Obama and the Democrats still spread their BIG LIE about how they saved us from another Depression....though they have the Bush tax code in place with the lowest tax rates since the Roaring Twenties—and with zero percent interest rates.....and they just can’t understand why they can’t get the economy going....!
They need to get out of the way!
Their policies failed because deficit spending at all levels has crowded out the private sector and made inflation expectations high.
Their policies are aimed at Housing and Car buying, but those are the LEAST likely markets to move because they require cash outlays for down payments and more debt financing....
Who wants to shell out a lot of cash and borrow when he knows that he might not have a job next year!.....?
Also, the States and cities have borrowed to the hilt, raised taxes, and cut spending—all of which undermined whatever good effect from borrow-and-spend economics!
There never was a chance of a Great Depression, because during the Great Depression, taxes went sky high......thousands of banks failed and took peoples’ savings with them———so GDP plunged with the unemployment rate. Government was smaller at all levels.....
But now we have welfare spending, unemployment spending, Social Security spending, Medicare spending.....all sorts of spending to replace lost incomes.......and plenty of spending to make more spending unnecessary......
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