Skip to comments.In Defense of Obamanomics (Obama advisor defends socialist agenda)
Posted on 03/08/2009 7:16:54 PM PDT by jimbo123
If leadership is defined as recognizing a crisis, addressing its challenges, and setting new directions while remaining true to one's values, then Barack Obama is already demonstrating his strengths as a leader. He has inherited an economic crisis worse than any the nation has experienced since the Great Depression. Within fewer than 50 days in office he has signed a historic stimulus package to bolster demand and create 3.5 million jobs. Governors, business leaders and economists from both the left and the right have applauded the stimulus. Friday's distressing employment numbers indicate that much more may be needed.
President Obama has also proposed a 10-year budget that is faithful to the progressive vision he articulated during his campaign. His budget includes significant investments in health care, energy, the environment and education, and a tax cut for the middle class. It also calls for higher taxes on the top 3% of income earners to finance his priorities and reduce the deficit. Not surprisingly, a budget plan this ambitious is triggering strong and well-organized opposition on numerous fronts.
(Excerpt) Read more at online.wsj.com ...
I you have to explain to people how you’re a leader, maybe you’re not.
I can’t help it. When I see this woman or hear her name, I think of the segment from Monty Python and the Holy Grail where a woman is accused of being a witch.
Maybe Laura will turn us all into newts; only this time we won’t get better.
I hope this is satire. If not, it’s a fairy tale.
This, from an economic advisor who wanted Clinton to reduce the deficit in the 90s. Ah...how flexible they are....
Musta been the person who had to write the statement for 0 to read to the NYT reporter who had the audacity to ask 0 if he was a socialist.
She was a hack years ago for Clinton, now she worships at the feet of Hussein.
Tax increases if you make too much (can't have people working too hard after all).
Higher prices for EVERYTHING from the carbon cap and trade idiot system.
No investment in domestic energy production except on types of energy that can't be used as baseline energy so we're still dependant on foreign oil.
Making more people dependant on the system.
Adding yet another layer of buracracy to an already overbloated medical system.
Overtaxing your income from your stocks in addition to income you get from your job (if indeed anyone still has one in 10 years thats not government provided).
Might as well move to Canada, at least their socalist system is better run and they have lots of space so its not as expensive to buy a house there.
Laura some of us remember your Tech Bubble.. People I trust Warren Buffet and Nouriel Roubini think your growth rate of 3.1 is pie in the sky numbers.
This ditz ignores the fact that “cap and trade” and all the other taxes except the Income tax are regressive or does the maroon anticipate that people will be required to present their 1040’s to find out what they have to pay for a gallon of unleaded - $3 for you, you poor person; hey, you, you rich bastard, you have to pay $83 per gallon!!
I wish he were dumb. He is more dangerous than that. He knows exactly what he is doing. America and freedom is unfair and the only way to fix it is to tear the whole thing down and start over. He's a liberal dream.
You are, I fear, absolutely correct. The only question is whether events will trip him up.
Did this ditzy chick manage to miss the recession which Clinton left for Bush to clean up?? (along with the Al Qaeda war against America....)
At what point in her speech did she credit the GOP Congress in helping Clinton get that famous ‘balanced budget’??? I couldn’t make it all the way through her speech so I presume it was somewhere near the end.
Anybody notice how complacent, or disinterested, Obama is about the economy. I think it’s chilling. It seems like he wants our economy to fail, so he can use the weak economy as an excuse to push his socialist agenda.
Sorry but I don’t think “inherit” covers it when he came from the Senate and voted for most of the spending! It’s all yours Obama quit complaining
Gawd- I hate democrats. Everyone of them.
The economy that Reagan inherited had worse numbers than this one did at 0bama's inauguration, and the we got out of that with TAX CUTS.
Second, 0bama did not "inherit it" - He was part of the the totally Democrat controlled Congress of two years that presided over the it.
Lie: “He has inherited an economic crisis worse than any the nation has experienced since the Great Depression.”
Truth: Things were much worse in 1980-1982.
Lie: “he has signed a historic stimulus package to bolster demand and create 3.5 million jobs.”
Truth: This spending bill will create over $1 trillion in additional federal debt and will cost jobs in the private sector. It may create a few hundred thousand government jobs.
Lie: “Governors, business leaders and economists from both the left and the right have applauded the stimulus.”
Truth: Those who understand economics and have read what is in the spending bill know it will be a disaster.
Lie: “President Obama has also proposed a 10-year budget that is faithful to the progressive vision he articulated during his campaign.”
Truth: Obama never said he would run up multi trillion dollar deficits.
Lie: “His budget includes significant investments in health care, energy, the environment and education, and a tax cut for the middle class.”
Truth: His budget wastes taxpayer money and give handouts to those who don't pay taxes now.
Lie: “assuming the economy has entered a recovery, President Obama’s budget will restore the top two marginal income tax rates to their 1990s levels of 36% and 39.6% for individuals earning more than $200,000 and couples earning more than $250,000.”
Truth: Obama will raise taxes no matter what happens to the economy.
Lie: “These changes will affect only the top 3% of taxpayers, the group that has enjoyed the largest gains in income and wealth over the last decade.”
Truth: These changes will hurt the economy and cause everyone other than the politically connected to suffer.
Lie: “Critics charge that President Obama’s tax rates for high-income earners will strangle small business and stifle economic growth. Such claims are misguided or disingenuous. A full 97% of small businesses will see their rates unchanged or enjoy additional tax benefits under the Obama plan.”
Truth: Businesses are reducing jobs at a rate of over 500,000 per month because of Obama.
Lie: “the strong expansion of the 1900s proves that the tax rates on income, capital gains and dividends in the Obama budget will support rapid economic growth and substantial income gains at the top.”
Truth: The expansion of the economy of the 1990s did not begin until the Republicans took over Congress and reduced tax rates and harmful regulation.
Lie: “the higher tax revenues resulting from these rates will reduce the deficit by about $750 billion, bringing it down to an average of 3.9% of GDP over the next 10 years and to 3.1% of GDP by the end of the decade.”
Truth: These higher rates as well as other Democrat policies are destroying the private sector and will greatly reduce revenues.
Lie: “This compares to an average deficit of 3.6% of GDP between 1982 and 1997, when the Dow Jones Industrial Average increased by 835%.”
Truth: Deficits as a percent of GDP will be far above the historical 3% average. The increase in the Dow in 1982-1987 was due to the Reagan policies. When Dems took over Congress in 1987 the Dow declines. The second increase from 1995-1997 was when the Republicans took over congress.
Lie:”$634 billion reserve President Obama needs to finance health-care reform with the other half coming from savings in health spending. These savings include competitive bidding in order to reduce Medicare payments to private insurance plans, increasing the Medicaid rebate for brand-name drugs, and strengthening Medicare pay-for-performance incentives for hospitals.”
Truth:Obama’s program will greatly reduce the guality of health care and will greatly increase the costs.
Lie:”these savings are fair and reasonable ways to finance the twin goals of achieving universal health-care coverage and moderating the growth of health-care spending.”
Truth:These programs will increase the growth of health care spending.
Lie:”Health-care costs must be contained through significant investments in health information technologies, disease management techniques, and wellness and prevention programs. And these investments must begin now. The stimulus package contains over $20 billion for such investments and they are major priorities in the budget.”
Truth: This is just ignorant nonsense.
Lie: “Reducing the nation's dependence on foreign oil and cutting carbon emissions are also priorities, supported by overwhelming scientific evidence on the risks and costs of climate change.”
Truth: Global Warming is a fraud unsupported by any scientific evidence.
Lie: “Economists agree that establishing a price for carbon emissions either through a carbon tax or a cap-and-trade system is essential to achieving these goals.”
Truth: No one who understands economics believes any of this nonsense.
Lie: “The system will impose a limit on the amount of carbon that businesses are allowed to emit each year. Firms will be required to purchase permits from the federal government through an auction and will then be free to buy and sell them.”
Truth: Businesses will face huge costs and will probably be made uncompetitive.
Lie: “Higher prices are necessary to encourage energy efficiency and the development of renewable energy, to discourage carbon emissions, and to reduce the societal costs of global warming.”
Truth: Higher prices will put a huge burden on our economy, will cost millions of jobs and reduce our standard of living.
Lie: “The Obama auction plan will also generate substantial government revenues, about 80% of which will be used for financing a refundable tax credit of up to $400 for individuals and up to $800 for families.”
Truth: This is not a tax credit, this is a welfare payment to those who don't pay taxes now.
Lie: “The result will be tax cuts for 95% of working Americans.”
Truth: Taxes will go up.
Lie: “The remaining 20% of the auction revenue will be used to finance investments in energy efficiency, clean energy and smart-grid technologies.”
Truth: Any remaining money will be stolen by the politically connected.
Lie: “the returns to higher education are substantial for both the individual and the overall economy. Too many American students are forced to forego these returns because they cannot afford a college education, with deleterious effects on the nation's competitiveness.”
Truth: Most families who pay college tuition will get nothing.
Lie: “If the economy recovers as projected, over the next decade taxes as a share of GDP at around 19% will be lower than they were during the second half of the 1990s, government spending as a share of GDP at around 22.5% will be about where it was under Reagan, and nondefense discretionary spending at around 3.6% of GDP will fall to its lowest level since that data was first collected in 1962.”
Truth: Deficits will be 10%-20% of GDP which is unsustainable. The productive sector of the economy will be destroyed.
Lie: “The real risk lies in the possibility that the economy's recovery starts later and is much weaker than the economic assumptions in the budget. In this case, by no means remote, President Obama will have to adjust his plans while remaining true to his values. In a very few days in office, he has already demonstrated that he has the leadership skills to rise to the challenge.”
Truth: Obama has no values, he is a wannabe Stalinist who will use economic weakness as an opportunity to destroy our freedoms and become a dictator.
” He has inherited an economic crisis worse than any the nation has experienced since the Great Depression.
The economy that Reagan inherited had worse numbers than this one did at 0bama’s inauguration, and the we got out of that with TAX CUTS.
Second, 0bama did not “inherit it” - He was part of the the totally Democrat controlled Congress of two years that presided over the it. “
Yep..how soon we forget. Interest rates 12 to 20plus %.
Unemployment was higher too. Housing? Tons of people had mortgages worth more than their house, me for one.
And NO ONE bailed us out. The early 70’s you could hardly by a job in my town. It’s been worse. But I do think it will get worse.
This is a Berkeley professor who worked for Clinton and is a huge Marxist...
This is more Commie drivel...