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President Obama Doesn't Know the First Thing About Economics
Fox News ^ | 7/16/2011 | lain Murray

Posted on 07/16/2011 8:23:04 PM PDT by tobyhill

As the Oscar buzz surrounding actress Meryl Streep keeps growing -- thanks to her portrayal of Margaret Thatcher, it’s worth remembering one of the real Iron Lady’s most famous observations: that any housewife could manage the British economy.

President Obama should heed that advice, and realize that economy begins at home. Unfortunately, his recent statements on the economy give little reason for hope on that front.

The president’s press conference on Monday epitomized the “do something” nature of his administration. He wants to do something about … well, everything—from getting more kids into college to fighting global warming (although the latter is less evident these days, at least in public). The trouble is that he thinks he needs more and more of our money to do it, so he wants any budget deal to include tax rises.

Let’s take the example of college education grants, which the president suggested should be funded by an increase in taxes on millionaires like himself. The president’s budget request for 2012 contains an allocation of $36 billion for increased Pell grants for students from poor backgrounds to attend college. That’s out of an entire federal budget request of $3.7 trillion, which makes Pell grant expenditure just 1 percent of the total.

Looking at that from the viewpoint of Mrs. Thatcher’s proverbial housewife, we can compare it to the median household income of about $46,000, which, after taxes, is about $3,000 a month.

(Excerpt) Read more at foxnews.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS: obamasucks
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1 posted on 07/16/2011 8:23:08 PM PDT by tobyhill
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To: tobyhill

Bfl.


2 posted on 07/16/2011 8:25:23 PM PDT by GlockThe Vote (The Obama Adminstration: The flash mob who wonÂ’t leave.)
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To: tobyhill

Barack Obama doesn’t know the first thing about anything at all.


3 posted on 07/16/2011 8:25:39 PM PDT by jmacusa (Political correctness is cultural Marxism. I'm not a Marxist.)
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To: tobyhill

Housewives have accomplished things and lives have been shaped by their leadership. Obama has never done anything except wreck the U. S. economy.


4 posted on 07/16/2011 8:26:57 PM PDT by plain talk
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Knowing is irrelevant when one doesn’t give a crap.

It’s plain as day this fascist jackass is part of the movement to drive US free enterprise into the ground.


5 posted on 07/16/2011 8:28:41 PM PDT by Gene Eric (*** Jesus ***)
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To: tobyhill
President Obama Doesn't Know the First Thing About Economics

What tipped you off?

6 posted on 07/16/2011 8:29:42 PM PDT by Hoodat (Yet in all these things we are more than conquerors through Him who loved us. - (Rom 8:37))
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To: tobyhill

7 posted on 07/16/2011 8:31:32 PM PDT by garjog
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To: tobyhill
No marxist regime in the history of this world allowed a thriving middle class. He and his teleprompter programmers and ALLLLL his appointed czars know exactly what they are doing.
8 posted on 07/16/2011 8:34:52 PM PDT by Just mythoughts (Luke 17:32 Remember Lot's wife.)
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To: tobyhill

He just wanted to be president for the perks. Vacations, golf, parties, and making us pay for his constant use of AF1.

I want him to be impeached so he doesn’t walk out of that WH thinking he was the best president this country has ever had. I never thought I would say this, but he’s worse than Carter.


9 posted on 07/16/2011 8:36:11 PM PDT by mardi59 (T)
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To: tobyhill
Oh, he knows. He just views economic matters through the grid of Mao, Marx, Lenin and Keynes--not through that of Washington, Jefferson, Adams, Madison, and Adam Smith.

When, like America's Founders, one treasures Creator-endowed, inalienable rights and liberty, then economic matters are viewed as another dimension of individual liberty.

The following statement by Sir Winston Churchill, upon leaving office as Prime Minister in 1945, was prophetic for Great Britain, and as it turns out, the United States and the world:

"I do not believe in the power of the State to plan and enforce. No matter how numerous are the committees they set up or the ever-growing hordes of officials they employ or the severity of the punishments they inflict or threaten, they can't approach the high level of internal economic production achieved under free enterprise. Personal initiative, competitive selection, and profit motive corrected by failure and the infinite processes of good housekeeping and personal ingenuity, these constitute the life of a free society. It is this vital creative impulse that I deeply fear the doctrines and policies of the socialist government has destroyed. Nothing that they can plan and order and rush around enforcing will take its place. They have broken the main spring and until we get a new one, the watch wil not go. Set the people free. Get out of the way and let them make the best of themselves. I am sure that this policy of equalizing misery and organizing society--instead of allowing diligence, self-interest and ingenuity to produce abundance--has only to be prolonged to kill this British Island stone dead."

The arrogance of power on display in the current Administration in America is at odds with America's story of opportunity, achievement, prosperity and plenty, because it relies on imperfect people in positions of power assuming that they make better decisions than the rest of the population.

10 posted on 07/16/2011 8:40:03 PM PDT by loveliberty2
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To: tobyhill

Zero is a spoiled, lazy, arrogant, incompetent, and mean Euro-Socialist Wannabe, with the 90% of the media that is controlled by the democrat party completely in the tank for this Affirmative Action Manchurian Candidate.


11 posted on 07/16/2011 8:40:22 PM PDT by FormerACLUmember (When the past no longer illuminates the future, the spirit walks in darkness.p)
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To: tobyhill

12 posted on 07/16/2011 8:47:12 PM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: jmacusa; Hoodat

Obama isn’t the only one in Washington that doesn’t know anything about economics, budgets, etc. I would venture that very few Congressmen have ever actually balanced a checkbook or worried about how they were going to pay their utility bills using just their own income. IMO they should all have to score 100% on a test covering basic accounting and life skills before they are even allowed to run for office - and one on the Constitution as well.


13 posted on 07/16/2011 8:51:18 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: tobyhill

Question for the President: “Which conservative book on economics did you find the most interesting and why?”


14 posted on 07/16/2011 8:55:00 PM PDT by cookcounty (Nullius in Verba. "Take no man's word for it.")
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To: plain talk
Obama has never done anything except wreck the U. S. economy.

Y'know, that's a profound observation.

Barack Obama is 50-yr old man without a single professional accomplishment. He gets royalties for a book he didn't write. He was elected president of the Harvard Law Review...and contributed nothing. None of his community organizer projects seemed to bear fruit. He solved not a single problem when chairing charitable foundations. While a legislator, he never authored any meaningful legislation -- he voted "present". He's never built a company, nor created a single job.

Indeed, as you point out, his sole accomplishment in life is the wrecking of the US economy.

Will that be what he tells his grandchildren...???

15 posted on 07/16/2011 8:58:56 PM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance On Parade)
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To: tobyhill

“President Obama Doesn’t Know the First Thing About Economics”.
Yeah yeah, and the sun comes up in the freakin east and it is going to snow in Houghton in February.\

Obammy is a dumbass,
Gee ya think?


16 posted on 07/16/2011 8:59:20 PM PDT by Joe Boucher ((FUBO))
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To: tobyhill

17 posted on 07/16/2011 9:00:30 PM PDT by quantim (Victory is not relative, it is absolute.)
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To: tobyhill; All

President Obama Doesn’t Know the First Thing About Economics
______________________________________________________________
Or: Creating jobs.... running a country.... foreign policy.... diplomacy...... military life..... how to meet a payroll.... What it’s like to have a real job..... I could go on but I’ll stop. That’s why I call him President Clueless.


18 posted on 07/16/2011 9:01:10 PM PDT by no dems (Never miss a chance to say "I love you" because you may never get the chance to say "goodbye".)
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To: tobyhill; All

My question is can anyone prove he ever took any economics course? Does anyone at Occidental college, Columbia University or Harvard Law know if he ever took a course? Does anyone remember him in any courses anywhere?


19 posted on 07/16/2011 9:01:56 PM PDT by arrogantsob (Why do They hate her so much?)
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To: tobyhill
Obama may or may not understand economics, but he sure understands the power of money to get reelected, and how the lack of money can lose an election.

Obama can't cut ANY Federal program because they are overwhelmingly manned by his supporters/contributors, and/or the money directly funds organizations (ACORN, Planned Parenthood, ...) that will support & fund his reelection. Laying off employees & shutting programs takes money directly from his campaign.

20 posted on 07/16/2011 9:03:15 PM PDT by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
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