I heard the first dog Bo is pretty sharp.
Joe Biden admits the Obama administration misread the depth of the current economic crisis.
That's interesting, notes CNBC broadcaster Rick Santelli, since the administration has been saying all along it's the worst slowdown since the Great Depression.
That doesn't sound like such a misread.
"I don't think they were really surprised by the depth of the slower activity," Santelli said this week. "Maybe they're just surprised that all that (stimulus) money really didn't create jobs ..."
And yet, there's talk of Stimulus II. Unbelievable.
The truth is becoming clear: For many in Washington, it's not about getting out of the economic crisis -- it's how. And the road, for them, has to go through Washington.
They just love spending your money. They love the power, the relevance, the ego-cuddling TV time it brings them, the gut-busting sense of accomplishment of spending other people's money. It really is that simple.
We've been sounding the alarm about Barack Obama's government-centric approach to life since the campaign. But recently, we've been seeing an uptick in readers' concern, and a newfound urgency in their worries about the direction America is headed.
Obama officials Wednesday claimed that the president isn't talking about a second stimulus -- though in an interview overseas, he said nothing is off the table. Moreover, his economic adviser, Laura D'Andrea Tyson, said very clearly on Tuesday that the country should be preparing for a second stimulus.
Her utterance signaled to world financial markets that the Obama administration sees a recovery as even farther off in the distance, and the markets suffered as a result.
Nor did the administration eschew the notion of a second stimulus until Senate Majority Leader Harry Reid flatly ruled it out.
The Obama administration appears increasingly confused and inept, in addition to being reckless with our money. First they are considering a second stimulus, then they're not. First they give Israel a green light to attack Iran's nuclear facilities, then they don't. First they know how bad the economy is -- and, oh by the way, just what to do to fix it -- then they admit they "misread" the financial picture.
These are not marginal issues. They are top-of-mind important and delicate matters of big-picture policy. Yet, administration officials are singing from different hymnals and, by their own admission, getting it wrong.
But even if the Obama folks had it together, a second stimulus would be a disastrous idea. The first one has been monumentally ineffective, as unemployment figures have crept up (despite Obama's promises of 3 million jobs) right along with the national debt.
The problem isn't a misreading of the economy. The problem is Obama and Co.'s fundamental philosophy that the economy 1) could and 2) should be micromanaged from the behind the white columns of Washington. It's a government-centric approach that has failed in nation after nation after nation.
Not only does Obama believe far too much in the power of government to be all things to all people, but at the same time he seems to believe that money grows on trees in the private sector, that American wealth is bottomless. Not only can we bleed businesses dry while borrowing even more from the Chinese to pay for everyone's health care, but we can also expand jobs by the millions.
How is that supposed to happen?
The worsening economic picture and the dissonant voices from the White House make you wonder if anyone there has a clue.
Comments
I heard the first dog Bo is pretty sharp.
"The financial problems in the U.S. will get worse. Millions of citizens there have lost their savings. Prices and unemployment are on the rise. General Motors and Ford are on the verge of collapse, and this means that whole cities will be left without work. Governors are already insistently demanding money from the federal center. Dissatisfaction is growing, and at the moment it is only being held back by the elections and the hope that Obama can work miracles. But by spring, it will be clear that there are no miracles." --- Source: Professor Igor Panarin, Russian analyst, DrudgeReport, Nov 25, 2008
I can see the citizens getting fed up with their taxes increasing while they spend our money, and a couple of cities even had a Boston tea party of their own. Even Richmond county is wanting to increase taxes when they failed to help get jobs here. How is that possible on only minimum wage jobs???
Sounds like they are admitting they are too stupid to do the jobs they were elected to do--SURPRISE,SURPRISE,SURPRISE!
speaking of minimum wages.. i wonder if increasing it 41% over the course of two years has uh.. contributed to the DEPRESSION we are in.
On top of not helpoing us get out of the economic mess we are in, the Waxman-Markey bill (cap and tax), which the sponsor Henry Waxman admits he doesn't know what is in The Waxman-Markey bill, will stiffle economic growth further, adding on billions in debt for health care will insure we become a third rate economy with continued unemployment and inflation will be added to the mix...
*Yawns* this ultraconservative editorial staff will have something to say day in and day out, week in and week out about Obama LOL... I stop bracing for these type of editorials and letters to the editor a long time ago. If the chronicle doesn't race bait itself, surely a letter to the editor a rant and rave or everyday poster will. *SHRUGS* Augusta is so backwards. It's a good thing this crap is free online. I haven't spent cent on the chronicle in years.
Now, now people ... patience. All this administration needs is 6 more years and the economy and national debt will be REALLY fixed. Stand by for more! (hint to O, socialism never works)
I think we will be saying stimuli soon enough instead of stimulus. Is Obama's economic advisor, Laura D'Andrea Tyson, related to Mike Tyson?
The idiots, including the big O, didn't "misread" the economy, they knew exactly what was wrong, but wanted to rob the taxpayers under the guise of a "stimulus packet." The present administration is so inept, their stupidity is showing along with their arrogance and ignorance. IMPEACH the big O!
Now Franks wants more money to give to ACORN. Rambo, the enforcer, wants to push for another stimulus before the first ones is spent. Strike while the iron is hot. As rambo says 'never let a good crisis go to waste'.
The first so-called stimulus bill was not even designed to create jobs. Anyone with half a brain knew that and anyone who is surprised that it didn't create (or save ) jobs is a fool who fell for the crap the dems and O are trying to sell. The first stimulus was to fund various bs pet projects, to fund a specific social and political agenda and to pay off special interests for support during the presidential election. Thtas why Obama wanted it passed so quickly and why the dems didn't want anyone to even have a chance to read it. Never let a good crisis go to waste. Now these people want to pass an alleged real stimulus bill. God help us.
Let's see here - 8 years to ruin a country, 6 months to fix it.
It's so convenient to forget that Hank Paulsen and the Bush administration masterminded this bailout "strategy" and Obama inherited both the problem and the "solution in progress." Everyone on the left and the right in Congress is a corporate lackie and the only way for the people to have a voice in government today is to start a serious dialogue with a third party that rejects corporate bribery as a matter of policy.
Let's see here - less than 6 months to have a larger debt than all governments back to Washington; largest stimulus debt; borrowing from China; largest unemployment; companies taken over by prezbho; companies that have been in business over 20 yrs being sold out from under them; paying off unions and ACORN; wanting government controlled insurance; cap and trade (TAX); buying votes by making more dependent voters and the list goes on and on. Do things look that good to you? Is this the CHANGE we can believe in?
Let's not forget Obama and McCain sat in the meetings for bank bail outs and approved them.
The Sky is Falling and we are all going to Hades in a Handbasket! More fear mongering from the party that put us in this economic hole, lost the last election big time and now cries fear because they are no longer in power. We have nothing to fear but fear itself!
Obama and McCain are cut from the same mole.. If only we could have had a real conservative running for president.
omno: Actually, on July 24, the minimum wage will have increased 23.9% in 2 years. On that date it will have increased 40.77% since 1997. On the 24th, the minimum wage will have increased 400% since 1970, however, the cumulative inflation rate for that time has been 466%. Had it not been increased in 2007, it would have only increased 255% against an inflation rate of 435%.
I wonder if Joe read the stimulus bill
Damn do you all really mean that someone really disapproves of their Messiah. Surely you are kidding. Not the almighty Islamic Damnbama.
amfirst:4/1/2009
Rob Pavey/Staff Writer,
The Augusta Chronicle,
"A $1.615 billion windfall from President Obama's economic stimulus package will enable Savannah River Site to create as many as 3,000 jobs and accelerate environmental cleanup projects." 6/22/09 Chronicle " So far, contracts involving stimulus funds coming to SRS have been awarded to 28 small businesses and 12 large businesses." Glad they're paying off that Democratic stronghold of Aiken County.
Hmmm, Germany cut their tax rate and their economy is starting to turn around. Obama and the Democrats are trying to tax EVERYTHING and businesses are scared to death and still firing people. Consequently, consumers are scared to death and not buying anything. Imagine that. Big government and big taxes do not work. Never have, never will. Turn this country around in 2010. Put the TAX and WASTE Democrats out. Trillions of dollars committed to the PORKULUS bill supposedly for infrastucture projects to stimulate the economy. In the end, only 5% of that money was dedicated to infrastructure and that 5% will not be spent for several years. We have been ROBBED. The Democrats have STOLEN our money under false pretenses and WASTED it on welfare programs and ACORN. Now we have, currently, 32 CZARS to manage every aspect of our lives. Pretty soon you will have to consult a CZAR before you flush you toilet, which is what we need to do to the Democrats. Put them down the toilet with one big FLUSH in 2010. Glad to see the polls starting to reflect those sentiments.
Amfirst: My wife also ran into an official with the Ga DOT who said they had NO money for construction. Any road construction you currently see in Ga is funded by stimulus funds. Yet another payback for "specific social and political agenda and to pay off special interests for support during the presidential election". A look back shows McCain won Ga by over 204K votes and Chambliss won with 57.4% of the vote.
Most of the road construction going on now is repairs only.
This administration has no clue. Did you expect anything different? Well, I was hoping it would not get this bad but this is the change I guess we are in for. But with all the thiefs and liars this guy has working for him, don't look for any relief anytime soon. We are the laughing stock of the world with these nit wit dems.
max:Germany individual income tax rates ,2009
Tax % Tax Base (EUR)
0 Up to 7,834,
14% 7,835-52,552,
42% 52,553-250,400,
45% 250,401 and over.Note: The rates are before solidarity tax,all individuals,and business tax-for business income.
Members of the church pay 8%-9% church tax. A Euro is $1.4 USD. I'm game, let everyone in the US who makes over $73574.2 pay 42% + in taxes instead of the 25%-35% they pay in the US (or 0-15% for most capital gains, roughly 28% in Germany with no deductions other than an exemption for real estate held over 10 years).
and to think, we're only a heart beat away from Joe "comb over" Biden. My leg just gets all tingly thinking about that prospect
The Augusta Chronicle ©2012. All Rights Reserved.
