Skip to comments.Marc Faber: Obama's Job Package 'a Complete Joke'
Posted on 09/09/2011 4:20:00 PM PDT by george76
Pimcos Mohamed El-Erian might like what he sees in President Barack Obamas $447 billion jobs package but not Marc Faber, the author of the Gloom, Boom and Doom report, who is not happy about the Presidents plan.
The package is another complete failure of Keynesian economics and corrupt interventions, Faber
(Excerpt) Read more at cnbc.com ...
Anyone who says, “Let’s spend 450 billion dollars and let someone else worry about how to pay it back”, has been doing way too many recreational drugs.
At $247,000 per job created (and that is OPTIMISTIC), this bill is a costly disaster.
Obama’s a Complete Joke - there, fixed it.
It’s not just the package that’s a joke its his whole Presidency.
It’s myopic to reject 0bama’s plan out of hand. OK, so as more details are coming out (i.e. they just thought of them) on this plan, we learn that 0bama wants payroll tax cuts and reduced Sarbanes-Oxley regulation against investing in tech startups.
Economically, the above are better ideas than the more traditional “infrastructure spending” that politicians typically trot out for every recession.
Do people here on FR *really* want to be actually rolling back red tape (Sarbanes-Oxley) and payroll tax cuts?
right now hurry up, right now hurry, right now.........odd that we need to rush and sign something it took him 2 years and a vacation in Marthas vinyard to come up with, no idea how to pay for it but it’s paid for, details will follow which means it’s not even a legitimate program but a lot of talking points and retoric. Fool! He set up the republicans again and made congress irrelevant and out he goes to campaign for it. NERO FIDDLES WHILE ROME BURNS
Just how much more evidence than the lunatic debacle last night does it take before a Section 4 declaration is transmitted to the President pro tempore of the Senate and the Speaker of the House of Representatives that Obozo is incapable of discharging the powers and duties of the Presidency?
Obama was in the middle of his usual blame-the-Republicans-in-advance rant. He was shouting. He was shouting at me,
He said (or rather shouted, with an angry face) that Republicans want to cut most federal government spending..
MOST? What planet does this goof isolate himself on? The most radical plan is Rand Paul's "penny-plan, which calls for a 1 penny on a dollar reduction, and likely is too radical for most Republicans. 1% equals "MOST? This speech was planned, written, practiced and delivered deliberately. There are no "slips of the tongue" in an address to a joint session of Congress.
And yet no one even says anything because even the liberal newsman know he's out of his gourd.
Imagine the firestorm if Palin or Perry in prepared remarks shouted that 1% equals "most!"
Not at all, but why cut the red tape for tech startups and nobody else? A job is a job, right? Cut the red tape for all business and cut the cronyism that tries to pick winners.
As for payroll taxes, Social Security is already going bust in 2017. Cutting revenues makes it go bust sooner and cutting payroll taxes does not stimulate job creation or investment. Only cutting the highest marginal tax rates or capital gains taxes does that. Just because Joe Schmoe gets an extra $1500 a year in his paycheck that he knows probably won't be there in a year or two won't inspire him to go start up a new business and hire somebody.
“Just how much more evidence than the lunatic debacle last night does it take before a Section 4 declaration is transmitted to the President pro tempore of the Senate and the Speaker of the House of Representatives that Obozo is incapable of discharging the powers and duties of the Presidency?”
This was not a speech at all, it was a scolding rant by a narcissistic lunatic who fears being rejected for his failures by the American people. He has no executive skills or leadership acumen whatsoever. He is an empty suit.
Very good juxtaposition of images. At least the ShamWow guy is actually selling something of value.
It’s a legitimate question. What is really being said behind closed doors in Washington these days? Do they “get it” that the shark has been jumped? Or are they so far removed from the real world that it’s just something to make small talk over in between rounds of Scotch? Very hard for me to make sense of it all.