Posted on 08/08/2011 5:03:06 PM PDT by NoLibZone
The verdict is in: That Obama speech (to which he arrived 53 minutes late) was a disaster, that totally failed to reassure anyone that the economy isn't imploding all over again.
Why the wrong note?
We wonder if Obama actually believes that he has to tiptoe around the bond vigilantes.
See, if we were giving that speech, amid this market, we'd have said: "Congress, get back in session, and let's pas some tax cuts."
Obviously that's what's need right now.
Instead, Obama focused on deficit reduction! He talked about the super-committee, and the need for tax reform.
WHAT?
At best, the super-committee will just deliver deficit reductions, which may satisfy S&P (though probably not, since they already said so), but will certainly do nothing positive for the market.
(Excerpt) Read more at businessinsider.com ...
.Warren Harding figured it out in 1920...
Congress and the Executive Branch have lots to do.
So far they’re not doin’ it right..
Its been done before..
Harding cut the government’s budget nearly in half between 1920 and 1922. The rest of Harding’s approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third. The Federal Reserve’s activity, moreover, was hardly noticeable. As one economic historian puts it, “Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supply around and fight the contraction.” 2 By the late summer of 1921, signs of recovery were already visible. The following year, unemployment was back down to 6.7 percent and was only 2.4 percent by 1923.
http://www.firstprinciplesjournal.com/articles.aspx?article=1319&loc=r
BTW..ole Warren ALSO fixed immigration...
Mr. Harding signed into law the Emergency Quota Act[3] which sought to control immigration following World War I and preserve the distinctive American culture by ensuring the majority of immigrants came from the historically compatible cultures of Northern Europe. This law aimed to bring wages of hard working Americans under control by limiting immigration to 3% of the 1910 census. It was followed on by a similar act in 1924, after Mr. Harding’s death.[4]
A Warren Harding prescription...if filled ...would ignite the afterburners on the US job machine and the economy. However DC would have to yield on a tremendous amount of power. Our job as We the People...is to persuade them of the “utlitity” ..shall we say..of doing so.
Any takers that ‘Bammy couldn’t even tell you that Warren Harding was one of his predecessors in office?
“A Quick Theory About That Disastrous Obama Speech”
According to the Author:
“Why the wrong note?
... Obama actually believes that he has to tiptoe around the bond vigilantes.”
I don’t think that’s it.
I’m going with Secret Agent Man’s theory.
It was more a coup d' etat than a terrorist attack. I think we should call it "The November Revolution".
Workers Unite!
Barry just twittered; he wants a do over tomorrow to see if he can get it right.
Please tone it down. Your statement sounds like something a liberal would say that disrespects the nearly 3,000 who died on that day.
Obama is bad, but we do not have to engage in shallow hysteria. We're better than that.
This is the real reason..IMHO...he’s working for these guys
He's an idiot who's in way over his head. Hillary will get the Dem nomination in 2012.
I was almost embarassed for him when he said, "we're still an AAA country." I could picture Clinton's people handing him that line while trying to hide the smirks from their faces.
I was hoping some reporter at that presser would have the balls to ask Zero, “WHEN will you and your administration be resigning in disgrace ?”
Or at least, “Given your promise about a single term if the economy hadn’t turned around in three years, when will you announce your withdrawal from the 2012 race ?”
It took you only 6 sentences to summarize the essentials. The entire democrap party + countless LSM bots can’t/won’t figure it out. sigh.
No he talked about “long term” solutions to our debt problem. They want to hear about short term solutions...period.
Read Robert Barro’s proposals in today’s WSJ where he addresses the issues you raised.
For example, you say that corporations are sitting on loads of cash. True. It is also true that much of it is parked overseas and won’t be brought hear to be subject to 35% tax rate. One company I know, a mid-size corporation, had most of its cash overseas, and just sold itself to an overseas corporation. Problem solved.
That is magnificent.
The Left , OTOH (whom we can note, are on overload with simpatico for every jihadist that terrorizes our planet) ARE destroying every aspect of our country and our American culture, as well. As well, they are destroying life and freedom, wherever else they plant themselves.
As does the Left, for that matter; albeit with greater subtlety.
A super comittiee?
That’s his plan?
Doens’t he know at this stage we need a super-duper committee? Or even a BLUE RIBBON panel?
(”Blue ribbon- that’s the best kind~!” - Lenny from The Simpsons)
Nice graphic but the donkey should be facing the other way.
This guy is a total disaster!
I agree with your post!!
The 11/4/2008, the biggest really; and the longest. And it is a great tag line...bumper sticker, et al.
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