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Frank: Obama admin 'dumb' to predict no higher than 8% unemployment
The Hill ^ | 08/18/10 | Michael O'Brien -

Posted on 08/18/2010 9:13:31 AM PDT by george76

It was "dumb" for President Obama and his aides to promise that unemployment would not surpass 8 percent if the stimulus act passed...

Rep. Barney Frank (D-Mass.), the chairman of the House Financial Services Committee, called into question the wisdom of projections issued by the Obama administration during the congressional fight over the stimulus bill that argued it would prevent higher levels of joblessness.

Frank said Tuesday evening during an appearance on the Fox Business Network. "That was a dumb thing to do."

(Excerpt) Read more at thehill.com ...


TOPICS: Business/Economy; Extended News; Government; News/Current Events; Politics/Elections; US: District of Columbia; US: Massachusetts
KEYWORDS: barney; barneyfrank; dumb; frank; obama; stimulus; unemployment
Barney knows dumb

ht comments

1 posted on 08/18/2010 9:13:34 AM PDT by george76
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To: george76
Photobucket

2 posted on 08/18/2010 9:15:26 AM PDT by Dick Bachert (The upcoming election is the most important in our lifetimes!!! BE THERE!!!!!!!)
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To: george76
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3 posted on 08/18/2010 9:15:48 AM PDT by b4its2late (Ignorance allows liberalism to prosper.)
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To: george76

This from the architect of the Freddie/Fannie debacle.

I’d tell Barney to stick his observations about economics where the sun don’t shine, but he’d enjoy it too much.


4 posted on 08/18/2010 9:16:55 AM PDT by Darkwolf377 (Forget it, Jake. It's Chinatown. -- written by Robert Towne)
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To: george76
Yeah, about as dumb as suggesting that Fannie and Freddie mac were fine going forward.

Oh wait.

5 posted on 08/18/2010 9:16:55 AM PDT by MAexile (Bats left, votes right)
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To: george76
I havn’t seen any numbers, but superficially it sounds like Barney has a real race on his hands. IIRC Brown won Barny's district in the special election. Looks like even the safe and powerful democrats don't want to get any Obama on them during this election cycle.
6 posted on 08/18/2010 9:17:35 AM PDT by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: george76
Good, the top rats admit that their administration is dumb.

Somewhere W is smiling broadly.

7 posted on 08/18/2010 9:21:16 AM PDT by Scott from the Left Coast
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To: george76

Not only was it dumb to predict, the whole stimulus approach was dumb.

This is Frank doing damage control.

The fact is they just pissed trillions of dollars away to do a little pork barelling and screw the people once more.

The Dems are history. So is Obama. You had your chance, now you go.Please go quietly before we stuff a rag in your mouth.


8 posted on 08/18/2010 9:21:42 AM PDT by Candor7 (Obama . fascist info..http://www.americanthinker.com/2009/05/barack_obama_the_quintessentia_1.html)
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To: george76

But, but, Barne......ALL the economists agree with Obama ALL the time.

Obama KEEPS TELLING you that, and the economists NEVER say he’s wrong about that.


9 posted on 08/18/2010 9:22:02 AM PDT by cookcounty ("From My House I can See November!" ---Sarah Palin)
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To: george76

Yes, he should have predicted 15%.


10 posted on 08/18/2010 9:22:54 AM PDT by Retired Greyhound
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To: george76

Its dumb to be the cause of 10.5% joblessness too. Why do so many Hyphenated-Americans love this guy and his clan for destroying their lives and the lives of their deceased relatives that fought so hard for the Union. So sad.


11 posted on 08/18/2010 9:23:29 AM PDT by lefty-lie-spy (Stay metal. For the Horde \m/("_")\m/ - via iPhone from Tokyo.)
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To: george76

I think he meant to say “stupidly”.

Mmmm Mmmm Mmmm


12 posted on 08/18/2010 9:28:07 AM PDT by Mobties (I yield back the balance of my time)
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To: george76

What a surprise - that Barney Frank would have 20-20 “hindsight.”


13 posted on 08/18/2010 9:28:38 AM PDT by Fido969 ("The hardest thing in the world to understand is income tax." - Albert Einstein)
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To: GonzoGOP

Is frank up for re-election this year?


14 posted on 08/18/2010 9:29:07 AM PDT by Mr. K (Physically unable to proofreed (<---oops! see?))
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To: Mr. K

He is in the house. Every seat is up every two years.


15 posted on 08/18/2010 9:32:45 AM PDT by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: GonzoGOP

Yep, Barney is up for re-election. Time to shift gears until November 3rd. How stupid are voters if they vote to re-elect this idiot? Stupid is as stupid does.


16 posted on 08/18/2010 9:35:39 AM PDT by Catsrus (Have)
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To: Candor7

Or in zero’s famous words, sit down and shut up - get out of the way!


17 posted on 08/18/2010 9:36:27 AM PDT by Catsrus (Have)
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To: george76

Epic failure. Dare I say, “unprecendented”.


18 posted on 08/18/2010 9:39:23 AM PDT by rod1
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To: george76
Barney let's not forget the Democrats in the Senate;

February 20, 2009

Sen. Klobuchar on Range: Stimulus bill needed for 'jolt' to economy

http://klobuchar.senate.gov/inthenews_detail.cfm?id=309042&

“In the nation, this bill will provide 3.5 million jobs in the next two years,” said Klobuchar,

...“Ninety percent of them will be in the private sector,” she said. .




19 posted on 08/18/2010 9:56:48 AM PDT by Son House (The Bush Tax Cuts Produced Better Results Than All The Democrat's Stimulus Bills Combined.)
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To: george76
Barney, let's not forget the Democrats in the House;

Walz(D-Mn) votes for stimulus bill
We received this statement from Walz’s congressional office

http://www.bluestemprairie.com/a_bluestem_prairie/2009/01/walz-votes-for-stimulus-bill.html

This legislation will create and save 3 to 4 million jobs, rebuilding America, making us more globally competitive and energy independent, and transforming our economy for long-term growth; give 95% of American workers an immediate tax cut; and invest quickly in the economy – with 75% spent in the first 18 months. For example, the plan provides $45 million to Minnesota in Byrne grant funding, which would keep police officers on the beat all across the state. It will also provide about $685 million to the Minnesota Department of Transportation for “shovel-ready” construction projects that can be up and running quickly.

“This recovery plan puts Americans back to work fixing our roads, bridges, and schools,” said Walz. “At the same time it calls into action our entrepreneurs, engineers, mechanics, electricians, and other laborers to transition our country to energy independence and bring the power and opportunity of high-speed internet to all corners of rural America. What’s exciting is that southern Minnesotans can benefit greatly from this strategy. Experts say more than 90 percent of the jobs created will be in the private sector.” added Walz.

20 posted on 08/18/2010 9:59:28 AM PDT by Son House (The Bush Tax Cuts Produced Better Results Than All The Democrat's Stimulus Bills Combined.)
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To: george76
Frank: Obama admin 'dumb'to predict no higher than 8% unemployment

Fixed.

21 posted on 08/18/2010 11:55:25 AM PDT by Recovering_Democrat
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To: george76
First his latest statements on FannieFred and now this.....I think he's buttering both side of his buns.....

FMCDH(BITS)

22 posted on 08/18/2010 1:49:46 PM PDT by nothingnew (I fear for my Republic due to marxist influence in our government. Open eyes/see)
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To: GonzoGOP

Frank is just as toxic as Obama. He and Dodd belong in jail.


23 posted on 08/18/2010 10:00:29 PM PDT by kabar
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To: george76
"That was a dumb thing to do."

The 'Dumb Thing' has already been done over a dozen times since 1974 by his constituents.

There is no hope for Massachusetts!

24 posted on 08/19/2010 9:38:28 AM PDT by wmileo
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To: george76
I heard a report over the weekend and found it online that in an interview with Larry Kudlow, Barney Frank admitted that loading to low-income people was wrong, that Freddie Mac and Fannie Mae should be shut down within the next year.

http://townhall.com/columnists/LarryKudlow/2010/08/21/barney_frank_comes_home_to_facts

Whether this is because he's worried about his seat in the fall, or has actually come to face facts is anyone's guess.

25 posted on 08/23/2010 4:05:42 AM PDT by theDentist (fybo; qwerty ergo typo : i type, therefore i misspelll)
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