Skip to comments.Experts: Obama Too Optimistic on Economy
Posted on 07/14/2009 2:41:35 PM PDT by Dubya-M-DeesWent2SyriaStupid!
Politico Miscalculation Would Mean Much Higher Deficits Than the Administration Is Now Acknowledging
A series of POLITICO interviews in recent days with independent economists of varied political stripes found widespread disdain for Obamas first round of assumptions, with some experts invoking such phrases as rosy and fantasy. (CBS/AP)
President Barack Obamas economic forecasts for long-term growth are too optimistic, many economists warn, a miscalculation that would mean budget deficits will be much higher than the administration is now acknowledging.
The White House will be forced to confront the disconnect between its original, upbeat predictions and the mainstream consensus about how the economy is likely to perform in a new budget forecast to be unveiled next month.
(Excerpt) Read more at cbsnews.com ...
Obama's economic policies only work in Imagination Land.
What we do know is that he wants to PASS Universal Health Care and Cap and Trade....and he'll figure out how to scre* us some more later. (Saying this will pay for it isn't necessarily so and you and I know that he wants MORE from ALL working people!!
It's not a question, Einstein; there's no "whether" or "if" in this.
"What's the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the [un]hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That's the consensus among economists. That's the Hayek legacy."--Lawrence Summers
Fantasy is the best word for it.
The hole may be too deep to ever climb out of.
In the case of Obama, optimism is not honesty. Obama is lying and citizens are seeing it.
Someday, around the year 2050, when the debt ceiling has been raised to $1 Quadrillion, and bread costs $5000 a loaf, they’ll still be blaming Bush.
I’d certainly expect him to tout his own policies, so this shouldn’t be a surprise, but the Republicans are missing a great opportunity, since 0bama’s economic policy is doing poorly.
If I were in charge, I would be broadcasting 0bama’s pleas for passage of his act to save the world, and then if American’s still had faith in 0bama’s ability to manage the economy. He was given everything he asked fofr to stimulate the economy, but it failed.
His chief of staff said, “Don’t waste a crisis.” Why are Republicans wasting this crisis?
Obama is a con-artist.
anyone have the master of the obvious picture?
I suspect that there is something fundamentally dishonest about all of this. Everyone knew that Obama decided to throw fiscal sanity out the window and completely ignore any concerns about the national debt. What I don’t understand is how anyone can supposedly make any predictions about future economic growth and be believed. This is a complete charade from start to finish. From what i can tell, economists and policy wonks are generally just interested in keeping government growing at a steady pace.
The left certainly loves to centralize power. Seems to be their solution for everything.
Really? Is there an 'expert' out there who can confirm that water is wet?
He’s not optimistic, he just truly believes that if he speaks it, it happens.
What I still don’t understand is why the Obama Administration used such rosy models when constructing their economic plan. Claiming that unemployment would cap at 8% was a joke, and calling for substantial growth in GDP next year was even more laughable. Axelrod et. al came up with the completely phonie politcal slogan of to “save or create jobs,” but they unknowingly screwed themselves and us by choosing to be factually and intellectually dishonest about our true economic problems. $1.2 trilllion in deficit spending so far (and who knows how much more in terms of guarantees) plus unemployment more than likely to hit 12% or more (and stay there for years to come) is all we have to show for this disgraceful misreading of the economic situation. The smartest president in American history, what a joke.
“The left certainly loves to centralize power. Seems to be their solution for everything.”
Offering a “solution” is the means. Getting into power (and staying there) is the end.
And if he appoints a czar it is all cleaned up and unicorn fantasy land.
I can’t believe CBS is reporting this.
When they were urging the immediate passage of all the Stimulus money- they said it was needed to jump start the economy.
Jump start means quickly...
Now NObama the imposter is saying it was always meant to take at least two years!!!
The man is a walking liar.
Just read on here that his “Green Czar” is an ex-con.
There are dozens of examples of him playing fast and loose with the facts, but one of the most glaring was when he made the announcement about the cafe standards. He said the cars would cost $1300 more, but you'd make it up at the pump.
He pulled those numbers out of his rear end. He has no clue how much the new cafe standards will cost, but it was a good sound bite, so he used it.
In previous situations, the MSM got dragged into covering Clinton/Lewinsky and the Swift Boat Vets. In 2008, they decided that come what may, they absolutely were not going to be dragged into covering anything negative about 0bama. Now, they've got what they want, and are looking at the absolute destruction of their networks and the newspapers. 0bama counts on the media breathlessly reporting his lies as facts, then changing to the new lie when the old one quits working. Of course, with the economic situation, they now are getting ridiculous, and cover Michael Jackson 24/7 or spin it ridiculously, as in the LA Times article on "Funemployment."
everything he has done economically harmful will be forgotten and/or blamed on the 'terrorists', ie. it's still all Bush's fault...
Because most government economists are neoclassical keynesians.
He is in Utopia and is trying to convince the rest of us that it is a land that exists, we deserve it, and obama demands that we follow his lead into it.
These days, just most?
There are a few Austrian School people here and there. White at the BIS is one, and he’s made some pronouncements recently that piddle upon the parade of neoclassical government drones...