Daley can’t defend Obama’s ‘indefensible’ economic policies

[Trajan]

it all counts; regs, fees generated there by, payroll hours spent etc etc ...


check out this exchange;

June 8 2011

“Has anyone bothered to study the cumulative effect of all [the new Dodd-Frank-mandated rules and regulations the Fed is heaping on the banking industry]?” Jamie asked Ben Bernanke in Atlanta yesterday, “And do you have a fear, like I do, that when we look back and look at them?...? they will be a reason that it took so long that our banks, our credit, our businesses, and most importantly, job creation started going again?"


Mr Bernanke replied: “I can’t pretend that anybody really has. .?.?. We don’t really have the quantitative tools to do that.” But the Fed was trying to produce rules that “do not unnecessarily impose costs or unnecessarily constrict credit”, he said.

Bankstocks.com


Bernbank is apparently unaware that the gov. is charged with calculating best they can expense of rules etc. as they create them.....unreal.

___________________________________

OP article-

White House Chief of Staff Bill Daley took heat from business executives Thursday for the Obama administration’s regulatory expansions. Daley also said he didn’t have any good answers for some of what President Obama is doing and expressed frustration about the “bureaucratic stuff that’s hard to defend.”

“Sometimes you can’t defend the indefensible,” Daley said at a National Association of Manufacturers (NAM) meeting.

Daley couldn’t answer basic questions and continually faced criticism from the executives in the room. The business leaders even applauded each other’s criticism of the administration. “At one point, the room erupted in applause when Massachusetts utility executive Doug Starrett, his voice shaking with emotion, accused the administration of blocking construction on one of his facilities to protect fish, saying government ‘throws sand into the gears of progress,’” wrote Peter Wallsten and Jia Lynn Yang in the Washington Post.

Bill Daley | Obama Economic Policies | Bureaucratic Stuff | The Daily Caller

 

[The T]

I posted this elsewhere...it's a good point.

Obama's own COS can't answer for the policies...admitted...indefensible.

But the rubes here will defend it.

 

[Trajan]

apparently not

the epa is supposed to be performing impact studies as well, I'll lay 8-5 they are not and I'll lay 9-5 they don't give a crap.

 

[SFC Ollie]

Well, when you put the rookies into the championship game, what do you expect?

 

[The T]

Well, when you put the rookies into the championship game, what do you expect?

*Disaster*

 

[Quantum Windbag]

This is at least the third time someone posted about this, and still no defenders of Obama step up to defend his policies.

 

[The T]

This is at least the third time someone posted about this, and still no defenders of Obama step up to defend his policies.

With the Second Summer Of Recovery in the offing? WHY should they?

 

[uscitizen]

Of course Obama's economic policies are indefensible they are the same ones we have had since 2000.

 

[blastoff]

This is at least the third time someone posted about this, and still no defenders of Obama step up to defend his policies.

With the Second Summer Of Recovery in the offing? WHY should they?

Well everyone knows Summer of Recovery 1 failed because the damn shovel companies hadn't ramped up production enough to meet the demand.

 

[WillowTree]

Of course Obama's economic policies are indefensible they are the same ones we have had since 2000.

Bullshit

 

[Trajan]

Of course Obama's economic policies are indefensible they are the same ones we have had since 2000.

thats better than nothing..............I guess.

 

[Truthmatters]

it all counts; regs, fees generated there by, payroll hours spent etc etc ...


check out this exchange;

June 8 2011

“Has anyone bothered to study the cumulative effect of all [the new Dodd-Frank-mandated rules and regulations the Fed is heaping on the banking industry]?” Jamie asked Ben Bernanke in Atlanta yesterday, “And do you have a fear, like I do, that when we look back and look at them?...? they will be a reason that it took so long that our banks, our credit, our businesses, and most importantly, job creation started going again?"


Mr Bernanke replied: “I can’t pretend that anybody really has. .?.?. We don’t really have the quantitative tools to do that.” But the Fed was trying to produce rules that “do not unnecessarily impose costs or unnecessarily constrict credit”, he said.

Bankstocks.com


Bernbank is apparently unaware that the gov. is charged with calculating best they can expense of rules etc. as they create them.....unreal.

___________________________________

OP article-

White House Chief of Staff Bill Daley took heat from business executives Thursday for the Obama administration’s regulatory expansions. Daley also said he didn’t have any good answers for some of what President Obama is doing and expressed frustration about the “bureaucratic stuff that’s hard to defend.”

“Sometimes you can’t defend the indefensible,” Daley said at a National Association of Manufacturers (NAM) meeting.

Daley couldn’t answer basic questions and continually faced criticism from the executives in the room. The business leaders even applauded each other’s criticism of the administration. “At one point, the room erupted in applause when Massachusetts utility executive Doug Starrett, his voice shaking with emotion, accused the administration of blocking construction on one of his facilities to protect fish, saying government ‘throws sand into the gears of progress,’” wrote Peter Wallsten and Jia Lynn Yang in the Washington Post.

Bill Daley | Obama Economic Policies | Bureaucratic Stuff | The Daily Caller

What good does new well thought out laws when some will game them from actually being inforced?

Its what the bush SEC did with gramm leach bliely.

They held back the protections in the law that would have prevented this whole mess.

 

[Claudette]

it all counts; regs, fees generated there by, payroll hours spent etc etc ...


check out this exchange;

June 8 2011

“Has anyone bothered to study the cumulative effect of all [the new Dodd-Frank-mandated rules and regulations the Fed is heaping on the banking industry]?” Jamie asked Ben Bernanke in Atlanta yesterday, “And do you have a fear, like I do, that when we look back and look at them?...? they will be a reason that it took so long that our banks, our credit, our businesses, and most importantly, job creation started going again?"


Mr Bernanke replied: “I can’t pretend that anybody really has. .?.?. We don’t really have the quantitative tools to do that.” But the Fed was trying to produce rules that “do not unnecessarily impose costs or unnecessarily constrict credit”, he said.

Bankstocks.com


Bernbank is apparently unaware that the gov. is charged with calculating best they can expense of rules etc. as they create them.....unreal.

___________________________________

OP article-

White House Chief of Staff Bill Daley took heat from business executives Thursday for the Obama administration’s regulatory expansions. Daley also said he didn’t have any good answers for some of what President Obama is doing and expressed frustration about the “bureaucratic stuff that’s hard to defend.”

“Sometimes you can’t defend the indefensible,” Daley said at a National Association of Manufacturers (NAM) meeting.

Daley couldn’t answer basic questions and continually faced criticism from the executives in the room. The business leaders even applauded each other’s criticism of the administration. “At one point, the room erupted in applause when Massachusetts utility executive Doug Starrett, his voice shaking with emotion, accused the administration of blocking construction on one of his facilities to protect fish, saying government ‘throws sand into the gears of progress,’” wrote Peter Wallsten and Jia Lynn Yang in the Washington Post.

Bill Daley | Obama Economic Policies | Bureaucratic Stuff | The Daily Caller

What good does new well thought out laws when some will game them from actually being inforced?

Its what the bush SEC did with gramm leach bliely.

They held back the protections in the law that would have prevented this whole mess.

The Dems had a super majority. Why didn't they re-install everything that was taken out??

I'll wait for your answer.

 

[kiwiman127]

it all counts; regs, fees generated there by, payroll hours spent etc etc ...


check out this exchange;

June 8 2011

“Has anyone bothered to study the cumulative effect of all [the new Dodd-Frank-mandated rules and regulations the Fed is heaping on the banking industry]?” Jamie asked Ben Bernanke in Atlanta yesterday, “And do you have a fear, like I do, that when we look back and look at them?...? they will be a reason that it took so long that our banks, our credit, our businesses, and most importantly, job creation started going again?"


Mr Bernanke replied: “I can’t pretend that anybody really has. .?.?. We don’t really have the quantitative tools to do that.” But the Fed was trying to produce rules that “do not unnecessarily impose costs or unnecessarily constrict credit”, he said.

Bankstocks.com


Bernbank is apparently unaware that the gov. is charged with calculating best they can expense of rules etc. as they create them.....unreal.

___________________________________

OP article-

White House Chief of Staff Bill Daley took heat from business executives Thursday for the Obama administration’s regulatory expansions. Daley also said he didn’t have any good answers for some of what President Obama is doing and expressed frustration about the “bureaucratic stuff that’s hard to defend.”

“Sometimes you can’t defend the indefensible,” Daley said at a National Association of Manufacturers (NAM) meeting.

Daley couldn’t answer basic questions and continually faced criticism from the executives in the room. The business leaders even applauded each other’s criticism of the administration. “At one point, the room erupted in applause when Massachusetts utility executive Doug Starrett, his voice shaking with emotion, accused the administration of blocking construction on one of his facilities to protect fish, saying government ‘throws sand into the gears of progress,’” wrote Peter Wallsten and Jia Lynn Yang in the Washington Post.

Bill Daley | Obama Economic Policies | Bureaucratic Stuff | The Daily Caller

What good does new well thought out laws when some will game them from actually being inforced?

Its what the bush SEC did with gramm leach bliely.

They held back the protections in the law that would have prevented this whole mess.

The Dems had a super majority. Why didn't they re-install everything that was taken out??
I'll wait for your answer.

I have an answer for you. The reason is simple and it's pure Washington, they didn't do anything because it would take away a political talking point.

 

[LibocalypseNow]

Wow! So rare to see such honesty in Hopey Changey Land. He should be axed to leave any day now. Bye Bye Mr. Daley,it was nice knowin ya.

 

[Steve Hanson]

it all counts; regs, fees generated there by, payroll hours spent etc etc ...


check out this exchange;

June 8 2011

“Has anyone bothered to study the cumulative effect of all [the new Dodd-Frank-mandated rules and regulations the Fed is heaping on the banking industry]?” Jamie asked Ben Bernanke in Atlanta yesterday, “And do you have a fear, like I do, that when we look back and look at them?...? they will be a reason that it took so long that our banks, our credit, our businesses, and most importantly, job creation started going again?"


Mr Bernanke replied: “I can’t pretend that anybody really has. .?.?. We don’t really have the quantitative tools to do that.” But the Fed was trying to produce rules that “do not unnecessarily impose costs or unnecessarily constrict credit”, he said.

Bankstocks.com


Bernbank is apparently unaware that the gov. is charged with calculating best they can expense of rules etc. as they create them.....unreal.

___________________________________

OP article-

White House Chief of Staff Bill Daley took heat from business executives Thursday for the Obama administration’s regulatory expansions. Daley also said he didn’t have any good answers for some of what President Obama is doing and expressed frustration about the “bureaucratic stuff that’s hard to defend.”

“Sometimes you can’t defend the indefensible,” Daley said at a National Association of Manufacturers (NAM) meeting.

Daley couldn’t answer basic questions and continually faced criticism from the executives in the room. The business leaders even applauded each other’s criticism of the administration. “At one point, the room erupted in applause when Massachusetts utility executive Doug Starrett, his voice shaking with emotion, accused the administration of blocking construction on one of his facilities to protect fish, saying government ‘throws sand into the gears of progress,’” wrote Peter Wallsten and Jia Lynn Yang in the Washington Post.

Bill Daley | Obama Economic Policies | Bureaucratic Stuff | The Daily Caller

What good does new well thought out laws when some will game them from actually being inforced?

Its what the bush SEC did with gramm leach bliely.

They held back the protections in the law that would have prevented this whole mess.

How would Graham Leach Bliley prevented the economic downturn? This I've got to hear

 

[Quantum Windbag]

it all counts; regs, fees generated there by, payroll hours spent etc etc ...


check out this exchange;

June 8 2011

“Has anyone bothered to study the cumulative effect of all [the new Dodd-Frank-mandated rules and regulations the Fed is heaping on the banking industry]?” Jamie asked Ben Bernanke in Atlanta yesterday, “And do you have a fear, like I do, that when we look back and look at them?...? they will be a reason that it took so long that our banks, our credit, our businesses, and most importantly, job creation started going again?"


Mr Bernanke replied: “I can’t pretend that anybody really has. .?.?. We don’t really have the quantitative tools to do that.” But the Fed was trying to produce rules that “do not unnecessarily impose costs or unnecessarily constrict credit”, he said.

Bankstocks.com


Bernbank is apparently unaware that the gov. is charged with calculating best they can expense of rules etc. as they create them.....unreal.

___________________________________

OP article-

White House Chief of Staff Bill Daley took heat from business executives Thursday for the Obama administration’s regulatory expansions. Daley also said he didn’t have any good answers for some of what President Obama is doing and expressed frustration about the “bureaucratic stuff that’s hard to defend.”

“Sometimes you can’t defend the indefensible,” Daley said at a National Association of Manufacturers (NAM) meeting.

Daley couldn’t answer basic questions and continually faced criticism from the executives in the room. The business leaders even applauded each other’s criticism of the administration. “At one point, the room erupted in applause when Massachusetts utility executive Doug Starrett, his voice shaking with emotion, accused the administration of blocking construction on one of his facilities to protect fish, saying government ‘throws sand into the gears of progress,’” wrote Peter Wallsten and Jia Lynn Yang in the Washington Post.

Bill Daley | Obama Economic Policies | Bureaucratic Stuff | The Daily Caller

What good does new well thought out laws when some will game them from actually being inforced?

Its what the bush SEC did with gramm leach bliely.

They held back the protections in the law that would have prevented this whole mess.

Daley works for Obama, and is talking about what he has done since he was elected. Blaming Bush just make you look stupid. I know that you are stupid, but you don't have to look stupid.

 

[LibocalypseNow]

Daley should be axed to leave any day now. Honesty will not be tolerated in Hopey Changey Land. See Ya Mr. Daley!!

 

[waltky]

Recovery at risk...

What's next for economy: Slow growth, weak hiring
July 6, 2011: Almost no one is satisfied with the current state of the U.S. economy. But economists say the outlook is pretty bleak too.

Sluggish economic growth will continue into 2012, if not beyond, with only modest hiring and high unemployment, according to a CNNMoney survey of 27 economists. The economists predict that gross domestic product, the broadest measure of the nation's economic health, will grow at only a 2% annual rate in the second quarter, little improved from the 1.9% growth rate in the first three months of the year. For the full year, they're projecting growth of 2.6% -- even weaker than in 2010. While they expect growth to pick up to 3% in 2012, that's just barely enough to get employers hiring at a significant pace.

Expectations started off strong in 2011, with some economists looking for growth as high as 4.3% in the first quarter. But momentum waned in the spring after the Japanese earthquake shook the world economy and oil prices rose precipitously. Since then, economists have slashed forecasts for growth going forward, with some raising the risk of a new recession. "The start-and-stop recovery we have experienced over the last year and a half is stifling the momentum necessary for business confidence to rise materially and hiring to gain traction," said Russell Price, senior economist at Ameriprise Financial. Forecasts for the job market aren't much better.

The June jobs report due Friday is expected to show 120,000 jobs added to payrolls, with businesses adding 130,000 as government employment continues to decline. Typically, the economy needs to add about 150,000 just to keep pace with population growth. The unemployment rate is expected to fall only slightly to 9% from 9.1% in May. Hiring for all of 2011 is expected to come in just under 2 million jobs. And unemployment is expected to be at 8.7% at the end of this year. The economists blame the hiring slump on uncertainty about consumer demand and Washington's future actions on debt, health care reform and financial regulation.

While the forecast is slightly better for hiring next year, with economists expecting about 200,000 jobs being added on average each month, that will only be enough to bring unemployment down to 8.1% by the end of 2012. For that reason, most economists don't expect the Federal Reserve to start reining in the economy anytime soon, even though inflation is likely to pick up. The economists predict overall prices will rise about 3.2% this year, up from 1.2% last year.

Only two economists expect a rate hike from the central bank this year, while about half expect the Fed's next move will be to raise rates in 2012 or later. Others expect lower-profile steps, like setting an explicit inflation target or changing the interest rate paid on excess reserves. None of them expect the Fed to embark on another round of asset purchases to pump cash into the economy, a controversial effort known as quantitative easing, although Keith Hembre, chief economist of Nuveen Asset Management said that could happen if there is a European sovereign debt default or an unexpected hard landing for the Chinese economy.

Source

See also:

Challenger report: More job cuts ahead
July 6, 2011: As the economic recovery continues to lose momentum, more job losses are on the horizon for thousands of Americans, according to a report released Wednesday.

The number of planned job cuts rose 11.6% in June to 41,432 from May's 37,135, according to outplacement consulting firm Challenger, Gray & Christmas. Government workers will take the biggest hit, the report said, accounting for 10,176 of the announced reductions. While the overall pace of job cuts has slowed since the recession, hiring has been spotty. Employers have now announced a total of 245,806 planned job cuts this year -- down 17.4% from 297,677 cuts announced in the first six months of 2010.

But year over year, job cuts have increased 5.3% from June 2010. "The employment picture remains a bit cloudy. Continued slowness in the pace of job cuts is certainly promising. However, hiring is coming in spurts and is not quite robust enough to make a significant dent in unemployment," John A. Challenger, chief executive officer of Challenger, Gray & Christmas said in a statement.

The Challenger report along with the ADP report due out Thursday, typically set the tone for the government's highly anticipated monthly jobs report due Friday. Economists are expecting 120,000 jobs were added to payrolls in the month. Typically, the economy needs to add about 150,000 just to keep pace with population growth.

Source