Posted on 08/09/2011 8:46:14 AM PDT by yoe
Pummeled by ghastly economic news, President Obama called Monday for more spending and extended tax cuts that he said would help stimulate the economy — but these also could deepen the deficit problems that helped the federal government earn its first-ever debt downgrade last week.
The president made the proposals as world stock market indexes were tumbling, and his remarks seemed designed to help the White House regain its political footing by resetting the congressional agenda next month. Mr. Obama said he wants the 2 percent payroll-tax cut extended into next year, the creation of an infrastructure bank by Congress to promote construction, and enhanced unemployment benefits extended for another year.
“If Congress fails to extend the payroll-tax cut and the unemployment-insurance benefits that I’ve called for, it could mean 1 million fewer jobs and half a percent less growth,” the president said from the White House, as stocks were in the midst of deep losses that would register a nearly 635-point drop in the Dow Jones industrial average. “This is something we can do immediately, something we can do as soon as Congress gets back.”
(Excerpt) Read more at washingtontimes.com ...
Forgive me, I just saw it. Nevermind.
We need another downgrade or two before these idiots wake up and even then, I doubt it. =.=
More truth than fiction, I fear....
Good post!
He was all set to sail to reelection.
At a crucial stage in the 2007 Democratic primaries, Obama gave a barnstorming speech, ending with a promise of what his victory would produce: "A nation healed. A world repaired. An America that believes again." But the bankrupt world he created would not cooperate.
He threw trillions of stimulus at anything that moved but the sagging economy would not cooperate.
He was all set to take credit for the debt ceiling bill--but the stock market took a dive and would not cooperate.
He catered to Third World tyrants and terrorists to shore up his base--as independents ran for the hills.
We ain't seen nuttin' yet. God knows what the Marxist progressive will tell him to do next.
"Americans are too stupid to understand how smart you are."
Aerial view of Tiah's Cove, location of 29-acre Blue Heron Farm, Chilmark, Martha's Vineyard.
The Obama's are planning a third vacation fit for the rich and famous at the spectacular Martha's Vineyard waterfront farm ---the stunning 29-acre Blue Heron Farm----a glamorous spread featuring spectacular views, a private beach, and even its own private golf tee, the Vineyard Gazette reported.
With a main Victorian farmhouse, a five-bedroom "guest house," a reconstructed Pennsylvania barn and New Hampshire shed plus other out buildings, Obama will have room to roam and space to accommodate an entourage while meeting the government's security needs. The sprawling property, located in the town of Chilmark, is owned by Mississippi timber magnate William Van Devender and wife Mollie, who have decided to rent it for two months this summer.
It sold for more than $20 million in 2005. The prior owners hosted Bill and Hillary Clinton in the summer of 1998. The cost to Obama was unknown, but similar luxury rentals in the area go for between $35,000 to $50,000 per week, about what the average US wage earner earns in a year. Obama can practice his jump shot on a private basketball half-court or indulge his golfing jones by teeing off on a private tee with a 300-yard fairway leading to a putting green. He can also stroll to a private saltwater pond or take a dip in the Atlantic from a private beach.
Obama was expected to pay the rental out of his own pocket last time.
The house has a private dock with a Boston Whaler, a catamaran and several kayaks, but it was unclear whether use of the boats comes with the deal. Its pool is "one of the prettiest pool's I've ever seen," said Wallace, while the hot tub overlooking the water offers "total privacy."
There is a private vegetable garden for First Lady Michelle Obama, who favors locally grown produce. If daughters Sasha and Malia want to plan a sleepover, there's a miniature boathouse with a loft on the water.
SOURCE http://www.nypost.com/seven/07252009/news/nationalnews/high_life_on_farm_for_o_181304.htm
"You think these suckers are gonna vote for you after all your screwups, Obama?"
"My screwups? You the one who went globe-trotting in designer outfits."
From the "Nancy told me so" file:
"Unemployment insurance, the economists tell us, return $2 for every $1 that is put out there for unemployment insurance," Speaker Nancy Pelosi said on the House floor.
Don't think about it. Just beleive it.
I recall that moment. It was like getting hit on the head with a ball-peen hammer.
The logical extension of that remarkable thought is that we should all quit our jobs, and the economy will soar.
Now that’s some real pretzel logic!
The 2 % cut in gross payroll SOC SEC taxes is only making the SOC SEC fund go broke quicker.
It is NOT helping the economy now or in the future.
How long before NObama tries to seize all private pensions & 401’s??????
Rough life these 2 cretins live : )
I can’t believe Jay said that Obama will be having a working vaca.
The POTUS is always working...
Not this one, Jay.
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