Well la, di-frickin' DA!
Posted on 11/08/2012 5:04:05 PM PST by Sub-Driver
Obama to make statement on economy Friday By Mark Felsenthal | Reuters – 48 mins ago
WASHINGTON (Reuters) - Newly re-elected President Barack Obama will make a statement on the economy on Friday, the White House said, setting the stage for a showdown with congressional Republicans over contentious tax and spending issues.
The president is likely to discuss looming tax increases and government spending cuts - the so-called fiscal cliff - that would go into effect early next year unless Congress acts to prevent them. He is due to make the statement from the East Room of the White House at 1:05 p.m. (1805 GMT).
Obama, who defeated Republican challenger Mitt Romney on Tuesday in a race in which the two candidates offered different visions for jump-starting the sluggish economy, is not expected to put forward a new or specific plan.
Instead, he is more likely to urge Congress to tackle the fiscal cliff and try to cut the massive U.S. budget deficit. Analysts have said that if left unaddressed, the abrupt fiscal tightening would knock the economy back into recession.
Congressional Republicans have already begun to stake out their position on ways to spare the already modest economic recovery from a fiscal shock. House of Representatives Speaker John Boehner is scheduled to hold a news conference earlier on Friday.
The president's advisers told reporters earlier on Thursday that dealing with the fiscal cliff would be an immediate priority. The administration sees Obama's re-election an endorsement of his position that affluent Americans should see their taxes rise, they said.
(Excerpt) Read more at news.yahoo.com ...
Oh, he’ll deliver a “statement”, will he? Let me guess, no questions from the press allowed? Or if they are, none of the hacks will ask anything of any consequence?
HAHA. If we play Slim Whitman during his address, will something good happen?
Here is what you wrote:
Why? Obama will have a poll with 75% of Americans and 99% of the media supporting him.
No, you didn't use the word mandate, but you describe someone that does. The only real poll was the election, Obama got 50% of the vote. The Reps retained control of the House by a comfortable margin.
Stop pushing this meme of an all powerful Obama who cannot be denied. The only real problem is if the Rep leadership in the House buys into this nonsense and fails to exercise its power--which is considerable.
And then there is the reality of our economy and the collapsing welfare state. We are broke and adding more debt, $4 billion a day. If interest rates go back up anywhere near what they were historically, our debt servicing costs will increase exponentially forcing far more cuts than sequestration. Our entitlement programs must be reformed sooner rather than later. What is Obama's plan? Will the 2% payroll tax holiday continue?
And then there is the implementation of the bad parts of Obamacare, i.e., the additional taxes, the establishment of the exchanges, the addition of 18 million to the Medicaid rolls, the activation of the IPAB that will reduce payments to hospitals and doctors and cause the loss of healthcare access for Medicare and Medicaid patients, the resistance of the states to the implementation of Obamacare (nullification), and a host of other problems associated with this 2700 page monstrosity that will kill hundreds of thousands of jobs and force more employers to stop providing healthcare and just pay the penalty.
Obama is also faced with a Europe going further into recession. Greece and Spain already have 25%+ unemployment rates. Iran still remains a growing problem. China is still a currency manipulator. The US continues to borrow 42 cents of every federal dollar spent. 10,000 people a day are retiring and will continue to do so for the next 20 years. We still have 47 million on food stamps.
Obama is facing huge problems. If he EOs an amnesty then everything else is just rearranging the deck chairs on the Titanic. The Heritage Foundation concluded that the cost of amnesty would be $2.6 trillion just for increased entitlement program costs. And the number of additional LEGAL immigrants who would join those who were the recipients of amnesty through chain migration, i.e., family reunification, would approach 70 million over a 20-year period, assuming there are only 12 million illegal aliens. We cannot assimilate such numbers. An amnesty would destroy the United States of America with the stroke of a pen.
Obama has no plan because he has no knowledge of what to do or how to do it. Pray to God. This will get far worse.
Maybe you didn't notice, but the Fed is buying up debt. It's mortgage debt but debt is fungible. It is a transparent ploy to keep interest rates on T-Bills ridiculously low. Given the fact that our country owes not just 15 or 20 trillion but has obligated 100 or 200 trillion more in the next 30 years, is there any chance in hell that we will come up with that money? No, we will default (stiff our creditors) we will cut entitlements (as you point out) and the Fed will inflate. We will eventually do all three of those things. Obama can pass on all of that in his term.
Obama will demagogue the entitlements, the payroll tax holiday and all of his spending. He doesn't care about debt and our inability to pay it. The Fed will comply with his implicit order to keep easing. Most importantly the Fed easing will keep undermining the economy as it has for the past 5-6 years, post bubble. He doesn't care if the Fed balance sheet grows into the trillions, it only helps him in his term.
I don't understand why you are complaining about Obamacare, it is only the means to destroy the private insurance system and then the allow the government takeover of the health providers using their single payer purse. Obama is laughing at your whining about the jobs it will kill, he could care less.
The rest of your post is rather obvious. Of course the world economy is not going to save Obama. But here's a tip: he does not care. He wants to transform American capitalism into a socialist, egalitarian economy. The best way for him to do that is to crush the capitalistic pieces one or two at a time. The struggling economy will just give him new reasons to control parts for his purposes like the auto union bailout.
Too much "disparity" in health care? Simple, just kill the insurance companies, create a single government payer, take over the providers and run it from Washington. Everybody gets a phone and you pay for it. His campaign donors deliver unreliable and 10x expensive solar power, he adds it to your electric bill. Those are just a few of things he has already started. There are big lists of others, look it up. Then think about how little the house can do to stop him.
I look forward to the thousands of 0bama speeches in the next four years.
Obama addressing the economy? Expect it’ll be broadcast on The Comedy Channel?
Awesome Wiley coyote graphic. Consider it stolen. :)
Did Benghazi never happen?
They are beginning the hearings today. Hillary might testify next week. Things are boiling....slowly but boiling just the same.
Being worried about reelection is no reason not to do the right thing.
I like that... but instead of turning your hair from gray to whatever, your ink goes from black to DEEP red.
Shall we take bets over whether the communist in chief will be on time?
Congress can work on it while he's doing his victory lap around Thailand, etc. BTW, is Michelle going along to keep tabs on Bathhouse Barry?
The House Republicans need to grow a spine and rid the crybaby as the speaker. If we’re going to go down then at least let’s do it fighting instead of rolling over and getting blamed for it at the same time.
demonize the rich. Demonize the house.
Let the whole system crash and burn. Then we can start over. Sooner it happens the better.
He has laid down the gauntlet. Now it is up to Boehner to blink.
No one will be punished in any manner over Benghazi. The 0bama regime AND the news media ran the clock out so 0bama could get re-elected and our Congress are PU**IES!!!
Who cares about the next election when the battle is going on right now?
Will there be anything to fight for in 2016?
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