Obama hosting bipartisan talks on economy (Obama losing on the economy and now needs a bailout)

LA Times ^ | 5/16/2012 | By Kathleen Hennessey

[tobyhill]

After months of trading blame and criticism from afar, President Obama and GOPcongressional leaders will meet Wednesday to discuss the economy — and, presumably, trade blame and criticism in person, more politely. The bipartisan gathering at the White House, the first since late February, is billed as a discussion of legislative solutions to the sluggish economy. The White House says President Obama will push House Speaker John A. Boehner (R-Ohio) and Senate Minority Leader Mitch McConnell (R-Ky.) to embrace his congressional to-do list, a short list of relatively small initiatives the president has said will spur growth.

Obama unveiled the list last week during an address in Albany, N.Y. As he did so, he mocked the unpopular Congress, his frequent foil, saying he'd made the list brief and easy, so it wouldn't take much reading. GOP leaders quickly dismissed the list as an election-year gimmick.

But Obama is aiming to show that he is serious about looking for common ground on economic measures. The White House says the president will give particular attention on Wednesday to a proposal that would give a 10% income tax credit to small businesses that hire new employees or increase wages. The measure would also extend tax deductions for business investment, a provision that would put $50 billion in business coffers over two years, according to the White House.

[Bronco_Buster_FweetHyagh]

HHAHAHAHAHHAHAHAHAHA

Obama hosting “bipartisan” talks hahahahahaha......

[Venturer]

To warn Boehner and McConnell to be wary is probably a waste of time.

[ScottinVA]

Yeah.. just like that 0bamacare “summit.” Boehner and McConnell don`t have the courage to do so, but they should tell Boy Zer0 to piss up a rope.

[KC_Conspirator]

I know, what a laugher. This fool has run the economy into the ground for damn near 4 years.

[Madame Dufarge]

As he did so, he mocked the unpopular Congress, his frequent foil, saying he'd made the list brief and easy, so it wouldn't take much reading.

What a political genius - where do we find such men? /s

Yep, no better way to encourage compromise than to begin by implying that your opponents are essentially booger-eating morons.

[BRL]

Cut regs, Pass Keystone, Cut more regs, repeal Dodd-Frank.

[spokeshave]

a proposal that would give a 10% income tax credit to small businesses that hire new employees or increase wages

Ha...good luck with that

A 10% tax cut on very little earnings to hire a new worker or pay more ...in this economy...............LOFLMAO

[mo]

Any ‘pubbie showing up for these is a fool

[tobyhill]

That's why Boehner and McConnell need to get in front of the cameras and tell the American people that “we tried it Obama’s way and all he did was spend taxpayer's money for no results and now he wants a second bite at the apple. We'll meet with him but we don't expect Obama to change his ways”.

[Truth29]

“Any ‘pubbie showing up for these is a fool"

That’s why Boehner and McConnell will be at the head of the line.

[nathanbedford]

Rinos and fellow travelers on the left are addicted to "compromise" but there is no possibility of compromise except as cosmetics because of the fiscal and regulatory depredations committed by Barack Obama and to a lesser extent by George Bush.

Yes, it is quite possible for Republicans and Democrats to compromise on some small issue such as tax breaks to those who hire more people-which will have the unintended consequence of rendering American business less efficient and less able to compete with Asians and push us into a game that we ultimately cannot win, competing on human labor rather than technology -but there is no possibility whatsoever of compromise on the scale necessary to save the country from the impending crisis. That is because the the margins consisting of about $6 trillion-$7 trillion were squandered by Obama and to a lesser extent by Bush and so there is nothing left with which satisfy both sides and still solve the entitlements problem and, at the same time, solve the stampeding deficit and staggering debt.

Putting aside the question whether Obama even desires a healthy economy and an honest fix, the problems he has created are so massive that they cannot be cured except by the dismantling of his administration's record, and more. By way of example, consider the Bush tax cuts which are about to expire next year because the Democrats would not make them permanent. Here is what Goldman Sachs has to say today about the effect of the Bush tax cuts will have if the Democrats force them to lapse:

14) If Congress fails to address fiscal cliff, fiscal policy likely to be 4 ppt drag on US growth in 1H 2013 – our base case assumes that drag will be 1 ppt next year. Alec Phillips: (i) We estimate that if Congress fails to address the "fiscal cliff" at year-end, fiscal policy will weigh on growth by nearly 4 percentage points in the first half of 2013. By contrast, our base case assumes that fiscal restraint will reduce growth by only 1pp next year; if Congress were to extend all of the expiring tax and spending measures, the effect on growth would be reduced to around 0.5pp. (ii) Comments today by House Speaker Boehner and Treasury Secretary Geithner provided some new guidance on the potential timing of fiscal decisions. Secretary Geithner affirmed our own expectation that the deadline for raising the debt limit is unlikely to be reached until early 2013. Speaker Boehner indicated openness to a short-term extension of fiscal measures as a means of achieving a broader fiscal agreement in 2013.

4%! That would tumble and economy with an anemic GDP of 1.9% into a real recession. Add to these burdens the regulatory jihad being conducted against the American enterprise and energy by the EPA and other agencies and the smothering effect of Obama Care and it is clear that by summer 2013 the American economy will be in ruins.

Every dollar that Obama has squandered means that we are without that dollar to reconstruct our economy now. Obama will not cease his jihads so there can be no "compromise." There are simply no dollars left to grease the Democrat party machinery and fix the economy.

We need an election to the death in November. There must be either salvation or ruin. We cannot have Obama profligacy and recovery too. The coming reckoning can be resolved only at the ballot box and not by cosmetic compromise.

[GlockThe Vote]

What an idiot. Obama has to go.

[Mouton]

I thought we had act one of this tragedy a few years ago. These guys never learn or never want to. They will be used as props for his campaign. By simply admitting they need a meeting between the GOP and his majesty, they are giving credence to His Excellency’s point they have obstructed the economy. Never learn do these boys. Or care to learn. They both need to go. In answer to a request for a bipartisan meeting, McConnel should have said everything is bottled up in the democrat controlled senate, why not have a meeting with your alter ego Weed, er Reid and why bother us. The house has passed many things, including a budget which has languished on his desk for three years.

One thing is guaranteed, his excellency’s falling numbers will rise about 5% after this charade.

[Caipirabob]

Obama's a big ZERO on the economy no matter what happens between now and November. There's nothing he can do at this point that can conceal the level of destruction his idiot socialist policy has wrought on this nation.

His only avenue remains personal attacks and groveling to every minority special interest group in existence.

I expect direct discussion of reparations and amnesty for student loans now owned by the government.

OTOH, I fully expect the democrats to "educate" the country on romney's faith as well. Those attacks should be quite interesting as the socialists always overreach. Given the panic, it may even be entertaining.

[scooby321]

Tell Obama to have the Senate to pass a budget first so people can plan.

[Pollster1]

This is a simple setup. (1) Invite the GOP to bipartisan talks. (2) Demand absurd and insane concessions that have nothing to do with helping the economy. (3) Lead the media in blaming the Obama Recession on intransigent republicans who refused to “compromise”. (4) Bring out more dead and fictional voters in November, when the real, living voters don’t fall for it.

[Venturer]

Agreed—and it is a Charade.

[italianquaker]

FUBO

[preamble]

Obama has spent a lot of time on the economy.

Hanging out with George Clooney.

Going to Ohio, California, New York to fundraise and
just fly around in AF1.

Playing golf.

Fundraising.

Going around to colleges on the student loans. On “official” business.

Yes that interest rate hike of 3% is going to affect a lot of jobs July 1

HAHAHA HA HA HA. STudent loans!!!

Free Birth Control

And now he wants to sit down with Boenher.

HA HA HA HA HA