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Obama stands by 'Recovery Summer'-will be offering a new package of ideas on the economy next week
The Hill ^ | 9/3/2010 | Jordan Fabian

Posted on 09/04/2010 10:32:34 AM PDT by Qbert

President Obama on Friday said he has no regrets about describing the last three months as the "Recovery Summer."

"I don't regret the notion that we are moving forward because of the steps that we have taken," Obama said in response to a question after he offered comments on the latest unemployment figures. 

The administration described the summer of 2010 as "recovery summer" because a large amount of the 2009 stimulus package was being spent over the summer. But job growth slowed dramatically over the summer amid concerns the economy was moving into a double-dip recession, and Republicans have made fun of the moniker.

 The president's remarks came after the Labor Department released jobs data showing unemployment rising from 9.5 to 9.6 percent. The private sector created 67,000 jobs, but overall the economy lost 54,000 jobs. 

Those numbers were better than expected, and are easing concerns about a double-dip recession. Still, Republicans argued Friday they fall short of a real recovery.

The administration has held firm that its policies are slowly but surely nursing the economy back to health. 

"We are confident we are moving in the right direction but we want to make sure this economy" is getting even stronger, Obama said on Friday.

Obama said he would be offering a new package of ideas on the economy next week.


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: duckandrecover; obama; obamanomics; recession; rectovery; reekovery; unemployment; wreckovery
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283,000 jobs lost this summer, GDP revised down to an anemic 1.6%, rising unemployment rate, etc., etc....yeah, sounds like we're "moving in the right direction." (/s)

I think he would have been better off responding, "Hey, guys I'm buying shrimp" again to the question...

1 posted on 09/04/2010 10:32:37 AM PDT by Qbert
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To: Qbert; Candor7; Howie66; 70th Division; freekitty; justiceseeker93; Windflier; MamaDearest; ...

Mullah Obama can stand by his Recovery Summer all the way through November 2nd so We The People can see what a fool he is. Meanwhile, during his Recovery Summer, he and Muchelle had one vacation after another paid for by We The People.


2 posted on 09/04/2010 10:37:44 AM PDT by ExTexasRedhead (Take back our country on November 2, 2010.)
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To: Qbert
'WE'RE MOVING IN THE RIGHT DIRECTION'

Credit: Matt Drudge

3 posted on 09/04/2010 10:39:51 AM PDT by library user
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To: Qbert
Those numbers were better than expected, and are easing concerns about a double-dip recession.

Many think there won't be a double-dip recession because we never exited from recession.

4 posted on 09/04/2010 10:40:05 AM PDT by Need4Truth (the just shall live by faith.)
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To: library user

Doh. I forgot my < p >

PREVIEW. PREVIEW. PREVIEW.

More coffee...


5 posted on 09/04/2010 10:41:03 AM PDT by library user
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To: Qbert

6 posted on 09/04/2010 10:42:43 AM PDT by BenLurkin (This post is not a statement of fact. It is merely a personal opinion -- or humor -- or both.)
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To: Qbert

What is more alarming is the weekly filings from the BLS is “first time filers”. Considering that number has been around 450,000 or more each month of this so-called recovery should be scaring the hell out of people. They use the number from week to week and the differences between them to make a case that it is getting better. How in the hell are we supposed to get all warm and fuzzy when over 400,000 NEW people are filing for unemployment each week?


7 posted on 09/04/2010 10:44:56 AM PDT by mazda77 (Rubio for US Senate - West FL22nd - Scott for FL Gov. - Miller AK US Senate)
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To: Qbert

The dealer is showing a K and this fool doubles down with a 9 and a 6 in his hand.

There has never been a dumber POTUS. Not even carter.


8 posted on 09/04/2010 10:45:30 AM PDT by freedumb2003 (Either we have principles or we are just liberals following the winds a bit starboard...)
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To: Qbert

I don’t know how this journalist considers this a “double dip recession” when the economy has been in one long sustained slide since Barry took office. The Dems have become transparently delusional.


9 posted on 09/04/2010 10:51:36 AM PDT by purplelobster
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To: Qbert

The administration described the summer of 2010 as “recovery summer” because a large amount of the 2009 stimulus package was being spent over the summer

spinspinspinspin


10 posted on 09/04/2010 10:51:43 AM PDT by italianquaker (obama all hat no cattle)
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To: ExTexasRedhead
Wreckovery is more like it.
11 posted on 09/04/2010 10:53:11 AM PDT by SouthTexas
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To: freedumb2003

I laughed out loud at your analogy. If anybody had the summer of private chefs, parties and golf vacations, they would believe recovery is here as well.


12 posted on 09/04/2010 10:54:55 AM PDT by Lazlo in PA
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To: ExTexasRedhead

Mullah Obama can stand by his Recovery Summer all the way through November 2nd so We The People can see what a fool he is. Meanwhile, during his Recovery Summer, he and Muchelle had one vacation after another paid for by We The People.


Just part of the plan to burn the house down before they surrender it. They want to turn over ashes when they leave.


13 posted on 09/04/2010 10:54:59 AM PDT by unkus
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To: Qbert

How about telling us where the stimulus money is going - you know - be transparent?

Here’s just a few -

http://deathby1000papercuts.com/2009/11/stimulus-bill-money-spent-on-3-4-million-tunnel-for-florida-turtles/

Wow, $3.4 million to build a 13 foot tunnel for turtles? How much is that a foot? Nice work if you can get it.

http://www.jsonline.com/business/82657582.html

anything changed since?

there are many more outrageous allocations of stimulus money - someone needs to demand a list.


14 posted on 09/04/2010 10:55:32 AM PDT by maine-iac7 (g)
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To: library user

BHO Toast


15 posted on 09/04/2010 11:00:25 AM PDT by FrankR (It doesn't matter what they call us, only what we answer to....)
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To: Qbert

I know this may sound counter-intuitive, but maybe we should be cheering Obama on, because if Obama has proven anything over the last two years is that liberal economic policies are a complete failure. Put simply, let him dig his own grave.

Any person who has taken ECON 101 or has done business in the real world can tell you that more government spending, more regulations and higher taxes are not a recipe for economic growth and job creation.

Barack Obama has proven to all and sundry that you can’t control a $13 trillion dollar economy by imperial fiat from Washington DC.


16 posted on 09/04/2010 11:08:39 AM PDT by radpolis
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To: Qbert

I believe it was Bush senior who said something similar, and the press tried to crucify him.


17 posted on 09/04/2010 11:17:17 AM PDT by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
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To: Need4Truth

“Many think there won’t be a double-dip recession because we never exited from recession.”

It’s simply the way that ‘recession’, ‘depression’ and ‘recovery’ are defined. Technically, we exited the recession. Of course, it was essentially smoke and mirrors in large part, and it didn’t help people in any meaningful way.

I’d make an analogy to a crummy Little League team that wins a bunch of games because their opponents don’t have enough players, and the team winds up with an 11-10 record at the end of the year. If Obama was coaching the team, he’d go around boasting every day how it had a “winning record”. Technically true, but so what?


18 posted on 09/04/2010 11:21:54 AM PDT by Qbert
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To: Qbert

As delusional as the Captain of the Titanic probably with same result as well.


19 posted on 09/04/2010 11:23:03 AM PDT by vicar7
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To: library user
Oh no! Now there's two of him. ;-)
20 posted on 09/04/2010 11:24:49 AM PDT by Qbert
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To: maine-iac7

Hopefully, these questions will be asked coming next January...


21 posted on 09/04/2010 11:26:34 AM PDT by Qbert
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To: ExTexasRedhead
Yep. And I think he's back on vacation yet again.
22 posted on 09/04/2010 11:28:20 AM PDT by Qbert
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To: Qbert
I think we have just barely escaped a double-dip and I think that we are going into a Japan type muddle. That means that the worst is over. It does not mean that employment will improve soon. It means that Barack Obama has heaped such staggering load of debt on generations of Americans that we will be swimming against the tide, laboring as my parents did to emerge from the great depression. They bought a home in 1938 which today is worth somewhere between three quarters and $1 million. In those days it cost them $7,800.

They were terribly worried about making those mortgage payments so they doubled down on the payments. That is what America is doing now on our credit cards, on our corporate balance sheets, and, yes, on our mortgages when they are not underwater.

It takes a long time to lift this burden. But, as I have posted time after time, it is a disservice to our readers, to conservatism, and to our reputation, to see economics through a political filter. Even worse is it to judge the market through a political prism. George Soros got to be a billionaire by going the other way. Anyone who invests on the basis of his political instincts is a fool. George Soros is evil but he is not a fool, neither should we be.

The market, like the Holy Spirit, is no respecter of persons or politics. It is a giant mistake to conflate politics with finance. One must maintain an open mind, free of political prejudices, when predicting markets. Keynesians do not maintain an open mind. Milton Friedman, on the other hand, is the essence of the open mind. Nevertheless, Friedman in academia is despised and John Maynard Keynes is holy writ.

Unemployment is a laging indicator. My suspicion is that we are coming to the end of the starker losses in employment, that picture will now stabilize, but the economy as a whole will not recover vigorously, but languidly.

Politics keys off of the unemployment statistics. But that is a whole different matter from the course of the economy. As a lagging indicator it is like trying to analyze the market by looking at the rear view mirror.


23 posted on 09/04/2010 11:32:30 AM PDT by nathanbedford ("Attack, repeat, attack!" Bull Halsey)
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To: nathanbedford
we are coming to the end of the starker losses in employment, that picture will now stabilize, but the economy as a whole will not recover vigorously, but languidly.

I think you have that right. Politicians are the ultimate followers. I will be interesting to see what direction the electorate pulls them in November. In the mean time, flat is the new up.

24 posted on 09/04/2010 11:49:04 AM PDT by Poison Pill
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To: Qbert
The only thing we “recovered” this summer was oil.
25 posted on 09/04/2010 11:51:06 AM PDT by WyvernAK (Knowledge is Power, ie Obama is in trouble)
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To: Qbert
Iceburgs? Not my concern!

Light all the boilers and make maximum speed!

26 posted on 09/04/2010 11:55:06 AM PDT by LasVegasMac
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To: Poison Pill; nathanbedford

“we are coming to the end of the starker losses in employment, that picture will now stabilize, but the economy as a whole will not recover vigorously, but languidly.”

Agree with the latter part, but most economists believe that 2.5% GDP growth is necessary to keep the unemployment rate from rising- Q2 was revised down to 1.6%. Not to mention that the adult population grew by 2M since last year (and of course, there are those dreadful U6 numbers...)

I posted this earlier today (explains a lot of this):

http://www.freerepublic.com/focus/f-bloggers/2583145/posts


27 posted on 09/04/2010 12:05:23 PM PDT by Qbert
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To: Need4Truth

So misunderstood! he meant next summer not this summer! silly


28 posted on 09/04/2010 12:05:38 PM PDT by ronnie raygun (We are our founding fathers keepers)
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To: Qbert
Thank you for posting that, I agree with it entirely.

The problem of employment might very well be a chronic one. As I am sure you are aware, a recession is defined, or normally is defined, as two consecutive quarters of negative growth. So we might have many quarters of positive growth which are not robust enough to counter the employment problem, as you point out.

If a Republican president were to say that the economy is improving while unemployment numbers stagnated, he would be excoriated in the media. That is probably not the case for this president.

I think it is clear that the electorate will repudiate Obama's spending schemes this November. Assuming the Republicans take control of the House at least, the question is, will Obama be able, Harry Truman like, to pin the blame on the Republicans for the lagging unemployment statistics?

All of this is more than of merely academic interest or even speculation over political possibilities, this has to do with the very tricky business of climbing out of the mess we are in. A daunting climb that admits of very little margin for misstep. Therefore, it is vital that we do not deceive ourselves, that we do conflate unemployment with the economy, that we are clear in our definitions, and we do not permit Obama to demagogue the issues.


29 posted on 09/04/2010 12:37:58 PM PDT by nathanbedford ("Attack, repeat, attack!" Bull Halsey)
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To: Qbert
most economists believe that 2.5% GDP growth is necessary to keep the unemployment rate from rising

I think society is beginning to come to terms with something that is going to be painful and drag on for a while. Many people are over-employed or over educated for the jobs they are best suited for. Politicians and the education industrial complex pushed this for their own benefit. But you don't need a 4 year $ 100,000 college degree to be a clerk. Thinning out the office herd helps in the short run as it increases cash flow which will eventually be used for growth. I expect employment numbers to ease but I think that will happen as folks turn to jobs they previously would have considered "beneath" them. Also, a turn away from expensive 4 year degrees means they will earn money sooner and be productive in the economy longer.

30 posted on 09/04/2010 12:38:04 PM PDT by Poison Pill
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To: Qbert
I stole this pic from Drudge because it perfectly depicts nobama's claim of "We're moving in the right direction."

Mush for brains idiot.

Note: If you decide to use this, be aware that there are two pics, left and right.

31 posted on 09/04/2010 1:09:05 PM PDT by upchuck (If we let the federal gvmnt live beyond its means, we will soon have to live below ours. ~Joe Miller)
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To: BenLurkin

“Beelzebama”..


32 posted on 09/04/2010 1:34:46 PM PDT by sheik yerbouty ( Make America and the world a jihad free zone!)
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To: sheik yerbouty
“Beelzebama”..

I like that!

33 posted on 09/04/2010 1:35:48 PM PDT by Allegra (Pablo is very wily.)
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To: Qbert
"I don't regret having the notion hallucination that we are moving forward because of the steps really awesome drugs that we have taken," Obama said in response to a question after he offered comments on the latest unemployment figures.
34 posted on 09/04/2010 1:38:49 PM PDT by Allegra (Pablo is very wily.)
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To: unkus

I’ve been wondering if there could have a massive “get the hell out of our Country” rally without being machined gunned by loyal alphabet security forces?


35 posted on 09/04/2010 1:47:30 PM PDT by mcshot (Who is the power behind the MSM that is trying to take-down our Country?)
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To: Qbert

[”I don’t regret the notion that we are moving forward because of the steps that we have taken,”]

At some point, EVERYONE will have to finally admit that this country is being run by an absolute fool.


36 posted on 09/04/2010 2:00:49 PM PDT by RetSignman (Tea Parties ..."We have seen the Patriots and they are us")
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To: Qbert
As that fat woman Rosie O’Doughnut said....he's
Delusiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiionallllllllllllll.
37 posted on 09/04/2010 2:27:03 PM PDT by celtic gal
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To: ExTexasRedhead

I just wish that Imam Obama would stand in front of our troops.


38 posted on 09/04/2010 4:36:29 PM PDT by Howie66 (I can see November from my house.)
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To: Qbert

You can always count on Obama to double down. His narcissism wouldn’t allow it to be any other way.


39 posted on 09/04/2010 4:45:46 PM PDT by Smokeyblue
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To: SouthTexas

Wrecking more lives than drugs and alcohol


40 posted on 09/04/2010 4:47:10 PM PDT by Son House (Like Getting Liposuction, and Coming Out Fatter. Time to Convict Democrats of Economic Malpractice.)
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To: Qbert

as soon as he gets back from his latest vacation that is...

ROFL


41 posted on 09/04/2010 4:52:08 PM PDT by TexasFreeper2009 (Obama = Epic Fail)
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To: Qbert

well, he must be over his ramadan fasting/holiay (he was on back to back holidays) ... he is not lying and eating again... those ice cream cones get tiresome!


42 posted on 09/04/2010 4:53:34 PM PDT by bareford101 (Be loud! We have nothing – NOTHING - to apologize for in fighting for our Country!!)
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To: Qbert

well, he must be over his ramadan fasting/holiday (he was on back to back holidays) ... he is not lying and eating again... those ice cream cones get tiresome!


43 posted on 09/04/2010 4:53:44 PM PDT by bareford101 (Be loud! We have nothing – NOTHING - to apologize for in fighting for our Country!!)
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To: Qbert

well, he must be over his ramadan fasting/holiday (he was on back to back holidays) ... he is lying and eating again... those ice cream cones get tiresome!


44 posted on 09/04/2010 4:53:55 PM PDT by bareford101 (Be loud! We have nothing – NOTHING - to apologize for in fighting for our Country!!)
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To: Qbert
This is perfect.

The economy stinks, there is no recovery, the job situation is hopeless, the debt insurmountable.....

......and Obama has no regrets and 'stands by' it all.

What a dimwit.

45 posted on 09/04/2010 4:55:03 PM PDT by ohioWfan (Proud Mom of a Bronze Star recipient!)
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To: vicar7
"Recovery Summer"
text describing the image
46 posted on 09/04/2010 4:55:30 PM PDT by Son House (Like Getting Liposuction, and Coming Out Fatter. Time to Convict Democrats of Economic Malpractice.)
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To: Qbert
"We're moving in the right direction. Bush is making us fail."


47 posted on 09/04/2010 4:57:44 PM PDT by paulycy (Demand Constitutionality: Islamo-Marxism is Evil.)
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To: mcshot

I’ve been wondering if there could have a massive “get the hell out of our Country” rally without being machined gunned by loyal alphabet security forces?


Those “loyal alphabet security forces” are welcome to show up if such a rally occurs. There are LOT of us who are itching for something like that. Bring it on, bastards.


48 posted on 09/04/2010 5:12:07 PM PDT by unkus
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To: Qbert

49 posted on 09/04/2010 5:12:39 PM PDT by Recovering_Democrat
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To: mazda77

Ir scares me because I know what it is like applying for jobs 24/7 and being on the verge of being foreclosed upon, no income whatsoever and wondering when we do get the boot, where do we go?

It is a horrible feeling and yes, I do have experience but it is not easy. I am not looking for a job that pays top dollar either, just one that covers the bills and maybe rent.


50 posted on 09/04/2010 5:14:38 PM PDT by hsmomx3
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