Democratic Myth No. 1: GOP is to blame for failure of Obama’s job policies

[zeke]

Hey dude with the cute little doggie (Barret)

TM just kicked the shit out of you. You post what, 10 threads a day and each and every one of them, you are made to look like a moron. Nice job.

Why don't you go out and get a real job. Do something constructive. Instead of being made to look the fool. You will feel better about yourself with a real job.

Good work TM.

School bus is waiting..."dude" Spelling and comprehension needs work while you're there...it's beretta not Barret. I guess our tax dollars are being wasted on remedial classes, "zeke".

No its is barrett. Those little thingies that you put in your hair. Cause with your cute little doggie, I am sure you use those.

And what is this claim that "you guess our tax dollars are being wasted......." I thought you rethugs KNEW our tax dollars were being wasted. Quit guessing. Thats what you were doing about the stimulus. And your guess was wrong. Again.

 

[Truthmatters]

The right wing in this country wants nothing to do with facts.

facts ruin their whole self constructed imagined world.

 

[edthecynic]

Economists agree: Stimulus created nearly 3 million jobs - USATODAY.com

Christina Romer, the outgoing head of the president's Council of Economic Advisers, never really recovered politically from her January 2009 forecast that the stimulus would keep the unemployment rate below 8%. In fact, by the time Obama signed the Recovery Act into law on Feb. 17, 2009, it already had breached that level. (The original administration forecast was prepared using data from late 2008 before the already-wounded economy deteriorated even more dramatically.) The unemployment rate hit 10.1% in October 2009 and stands at 9.5% today.

So, here we are in 2012. What is the unemployment percentage, TM?

Can you tell the board?

7.8%

Gallup Daily: U.S. Employment

 

[TakeAStepBack]

Three destructive Obama administration policies

First, there’s the legislation Democrats passed under President Obama to fix our economy during the nearly two years they had control of the presidency, the House and a filibuster-proof majority in the Senate. There’s the failed trillion-dollar stimulus that was supposed to keep unemployment below 8 percent and reduce it to 5.4 percent by now but did little other than increase our debt. The Job Impact of the American Recovery and Reinvestment Act.

Then there’s the ironically titled Patient Protection and Affordable Care Act (Obamacare) that was to reduce health care costs but has resulted only in cost increases that are set to continue in an upward spiral.

Finally, there’s the Dodd-Frank Wall Street Reform and Consumer Protection Act that essentially enshrined “too big to fail.” Its voluminous rules are some of the most convoluted and confusing our capital markets have ever seen burying community banks in regulations, stifling business and hurting consumers.

President Obama proposed (and when Democrats were in complete control, actually passed) various pieces of legislation that failed to improve our economy but did succeed in increasing government regulation, driving costs higher for businesses, lowering incentives to work and increasing dependency.



Puzder: Democratic Myth No. 1: Republicans are to blame for failure of Obama's job creation policies - Conservative News

That's a myth.

And the myth continues that "Obama's policies" failed. The policies that passed, TARP, auto bailout, stimulus..were successes.

Subsequent policies were blocked.

TARP was signed into law by Bush, adn it's "success" is debatable.

The auto bailout is a failure in that it skewed the industry and GM is teetering again on another bankruptcy. Which it should have to go through. Along with restructuring or a coffin.

The stimulus was only a success if you lower the bar far enough. What it was sold to accomplish, it fell extremely short. In other words based on what it was suppose to accomplish, it fucking failed, fella.

You're welcome.

 

[beretta304]

Hey dude with the cute little doggie (Barret)

TM just kicked the shit out of you. You post what, 10 threads a day and each and every one of them, you are made to look like a moron. Nice job.

Why don't you go out and get a real job. Do something constructive. Instead of being made to look the fool. You will feel better about yourself with a real job.

Good work TM.

School bus is waiting..."dude" Spelling and comprehension needs work while you're there...it's beretta not Barret. I guess our tax dollars are being wasted on remedial classes, "zeke".

No its is barrett. Those little thingies that you put in your hair. Cause with your cute little doggie, I am sure you use those.

And what is this claim that "you guess our tax dollars are being wasted......." I thought you rethugs KNEW our tax dollars were being wasted. Quit guessing. Thats what you were doing about the stimulus. And your guess was wrong. Again.

No its is barrett.

thingies

 

[beretta304]

Jobless rates up in 26 states, down in 12 in Aug; payroll jobs up in 28 states, down in 21

U.S. Bureau of Labor Statistics

 

[beretta304]

Unemployment Rates for States

 

[Sallow]

Three destructive Obama administration policies

First, there’s the legislation Democrats passed under President Obama to fix our economy during the nearly two years they had control of the presidency, the House and a filibuster-proof majority in the Senate. There’s the failed trillion-dollar stimulus that was supposed to keep unemployment below 8 percent and reduce it to 5.4 percent by now but did little other than increase our debt. The Job Impact of the American Recovery and Reinvestment Act.

Then there’s the ironically titled Patient Protection and Affordable Care Act (Obamacare) that was to reduce health care costs but has resulted only in cost increases that are set to continue in an upward spiral.

Finally, there’s the Dodd-Frank Wall Street Reform and Consumer Protection Act that essentially enshrined “too big to fail.” Its voluminous rules are some of the most convoluted and confusing our capital markets have ever seen burying community banks in regulations, stifling business and hurting consumers.

President Obama proposed (and when Democrats were in complete control, actually passed) various pieces of legislation that failed to improve our economy but did succeed in increasing government regulation, driving costs higher for businesses, lowering incentives to work and increasing dependency.



Puzder: Democratic Myth No. 1: Republicans are to blame for failure of Obama's job creation policies - Conservative News

That's a myth.

And the myth continues that "Obama's policies" failed. The policies that passed, TARP, auto bailout, stimulus..were successes.

Subsequent policies were blocked.

TARP was signed into law by Bush, adn it's "success" is debatable.

The auto bailout is a failure in that it skewed the industry and GM is teetering again on another bankruptcy. Which it should have to go through. Along with restructuring or a coffin.

The stimulus was only a success if you lower the bar far enough. What it was sold to accomplish, it fell extremely short. In other words based on what it was suppose to accomplish, it fucking failed, fella.

You're welcome.

TARP was a success. The fact that you have a wall street where America still owns majority shares in major financial companies proves it. Lehman was a "proof of concept".

And the auto industry is thriving again...not "teetering". American cars are on top..world wide. That's not failure.

And there was no bar "lowered", the stimulus met the numbers it was scored to meet. The number of people that kept their jobs or were employed, was essentially the numbers that were projected by the stimulus.

You guys either do not recognize the extent of the damage caused by the Bush administration or live in an alternate reality.

 

[TakeAStepBack]

Economists agree: Stimulus created nearly 3 million jobs - USATODAY.com

Christina Romer, the outgoing head of the president's Council of Economic Advisers, never really recovered politically from her January 2009 forecast that the stimulus would keep the unemployment rate below 8%. In fact, by the time Obama signed the Recovery Act into law on Feb. 17, 2009, it already had breached that level. (The original administration forecast was prepared using data from late 2008 before the already-wounded economy deteriorated even more dramatically.) The unemployment rate hit 10.1% in October 2009 and stands at 9.5% today.

So, here we are in 2012. What is the unemployment percentage, TM?

Can you tell the board?

7.8%

Gallup Daily: U.S. Employment

People love their pleasantries.

Real Unemployment Rate Hits 11.7% As Spread Between Reported And Propaganda Data Hits Record | ZeroHedge

Real Unemployment Rate Hits 11.7% As Spread Between Reported And Propaganda Data Hits Record

Today's reported unemployment rate: 8.1%. The reason: the labor "participation" dropped to a 31 year low 63.5% as reported earlier. Of course, this number is pure propaganda, and makes no sense for one simple reason: despite the economic collapse started in December 2007, the US civilian non-institutional population since then has grown by 186,000 people every month on average hitting an all time high of 243,566,000 in August. These people need a job, and the traditional shorthand is that at least 100,000 jobs have the be generated every month for the unemployment rate to merely stay flat, let along improve. So what does one get when one uses the long-term average of the past 30 or so years which happens to be 65.8%? One gets an unemployment number that is 45% higher than the reported 8.1%, or 11.7%. That is what the real unemployment rate is assuming the US labor participation rate was realistic and not manipulated by the BLS cronies and the Bank of Spain assisted Arima-X-13 seasonal adjustment models. It also means that, as the chart below shows, the spread between the real and propaganda data hit an all time record, which was to be expected two months ahead of America's... presidential election.

 

[Bfgrn]

What's the matter? Your own link too hard for you to follow so you repost a chart?

Nice try but you failed. It was your source. BTW, where is the chart from? I may have missed it but it isn't on the CBO link.

They are two different charts, why? Because they measure two different things.

The CBO chart measures: Federal Debt Held by the Public Under CBO’s Long-Term Budget Scenarios (Percentage of gross domestic product)

 

[zeke]

Hey, why don't one of you rethugs list the Republican jobs bill that was so apparently good for America and created millions of jobs. But those meanies in the Senate just wouldn't let it go through.

Which bill was that?

 

[TakeAStepBack]

That's a myth.

And the myth continues that "Obama's policies" failed. The policies that passed, TARP, auto bailout, stimulus..were successes.

Subsequent policies were blocked.

TARP was signed into law by Bush, adn it's "success" is debatable.

The auto bailout is a failure in that it skewed the industry and GM is teetering again on another bankruptcy. Which it should have to go through. Along with restructuring or a coffin.

The stimulus was only a success if you lower the bar far enough. What it was sold to accomplish, it fell extremely short. In other words based on what it was suppose to accomplish, it fucking failed, fella.

You're welcome.

TARP was a success. The fact that you have a wall street where America still owns majority shares in major financial companies proves it. Lehman was a "proof of concept".

And the auto industry is thriving again...not "teetering". American cars are on top..world wide. That's not failure.

And there was no bar "lowered", the stimulus met the numbers it was scored to meet. The number of people that kept their jobs or were employed, was essentially the numbers that were projected by the stimulus.

You guys either do not recognize the extent of the damage caused by the Bush administration or live in an alternate reality.

General Motors Is Headed For Bankruptcy -- Again - Forbes

General Motors Is Headed For Bankruptcy -- Again

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.

Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.

So, first you say TARP, which is a Bush policy, is a success. Then you say the Bush administration caused all the damage. You can't have it both ways. Well, youre a LOLberal. I guess you can. Of course Im sure you attribute the TARP "success" to Obama.

Revisiting Unemployment Predictions | e21 - Economic Policies for the 21st Century

Back in January 2009, Christina Romer and Jared Bernstein produced a report estimating future unemployment rates with and without a stimulus plan. Their estimates, which were widely circulated, projected that unemployment would approach 9% without a stimulus, but would never exceed 8% with the plan. The estimates, along with real unemployment rates, are posted below

In May 2011, using the latest figures available from the BLS, the unemployment rate reached 9.1%. In contrast, the Romer and Bernstein projections estimated that the unemployment rate would be around 8.1% for this month without a recovery plan, or 6.8% with a stimulus plan (which was ultimately passed). The actual unemployment rate has been consistently above Romer and Bernstein’s worse case scenario for the economy – and by a considerable margin. They projected that the unemployment rate would never climb above 9%. As time has passed, it turns out that only two months out of the last two years have seen an unemployment rate lower than 9%

 

[beretta304]

What's the matter? Your own link too hard for you to follow so you repost a chart?

Nice try but you failed. It was your source. BTW, where is the chart from? I may have missed it but it isn't on the CBO link.

They are two different charts, why? Because they measure two different things.

The CBO chart measures: Federal Debt Held by the Public Under CBO’s Long-Term Budget Scenarios (Percentage of gross domestic product)

I asked for a link to them. I'd like to see it. Too much to ask?

 

[NYcarbineer]

Hey, why don't one of you rethugs list the Republican jobs bill that was so apparently good for America and created millions of jobs. But those meanies in the Senate just wouldn't let it go through.

Which bill was that?

The Republican alternative to the 2009 stimulus was a 700 billion dollar stimulus bill that differed from the Obama stimulus only in a marginally different ratio of tax cuts to spending.

 

[NYcarbineer]

So, here we are in 2012. What is the unemployment percentage, TM?

Can you tell the board?

7.8%

Gallup Daily: U.S. Employment

People love their pleasantries.

Real Unemployment Rate Hits 11.7% As Spread Between Reported And Propaganda Data Hits Record | ZeroHedge

Real Unemployment Rate Hits 11.7% As Spread Between Reported And Propaganda Data Hits Record

Today's reported unemployment rate: 8.1%. The reason: the labor "participation" dropped to a 31 year low 63.5% as reported earlier. Of course, this number is pure propaganda, and makes no sense for one simple reason: despite the economic collapse started in December 2007, the US civilian non-institutional population since then has grown by 186,000 people every month on average hitting an all time high of 243,566,000 in August. These people need a job, and the traditional shorthand is that at least 100,000 jobs have the be generated every month for the unemployment rate to merely stay flat, let along improve. So what does one get when one uses the long-term average of the past 30 or so years which happens to be 65.8%? One gets an unemployment number that is 45% higher than the reported 8.1%, or 11.7%. That is what the real unemployment rate is assuming the US labor participation rate was realistic and not manipulated by the BLS cronies and the Bank of Spain assisted Arima-X-13 seasonal adjustment models. It also means that, as the chart below shows, the spread between the real and propaganda data hit an all time record, which was to be expected two months ahead of America's... presidential election.

Nice chart.

So, the unemployment rate was really much higher than reported for Ronald Reagan's entire presidency??

Hmmm...don't be so harsh on the Gipper, he's a conservative legend.

lol

 

[Truthmatters]

Zero Hedge - Wikipedia, the free encyclopedia


Zero Hedge was founded in January 2009.[1] Posts are signed "Tyler Durden," a character in the Chuck Palahniuk book and movie Fight Club,[2] reflecting the news site's activist posture.[1] Despite speculation that "Tyler Durden" is a pseudonym of Daniel Ivandjiiski,[2][3] who was penalized for insider trading in New York in September 2008,[4] Ivandjiiski denies being a founder of Zero Hedge.

 

[TakeAStepBack]

Thanks, TM. I already new ZeroHedge exposed flash trading and Goldman Sachs. Thanks for showing the class that they have some cred in reporting. Just like real unemployment vs. fantasyland.

 

[TakeAStepBack]

7.8%

Gallup Daily: U.S. Employment

People love their pleasantries.

Real Unemployment Rate Hits 11.7% As Spread Between Reported And Propaganda Data Hits Record | ZeroHedge

Real Unemployment Rate Hits 11.7% As Spread Between Reported And Propaganda Data Hits Record

Today's reported unemployment rate: 8.1%. The reason: the labor "participation" dropped to a 31 year low 63.5% as reported earlier. Of course, this number is pure propaganda, and makes no sense for one simple reason: despite the economic collapse started in December 2007, the US civilian non-institutional population since then has grown by 186,000 people every month on average hitting an all time high of 243,566,000 in August. These people need a job, and the traditional shorthand is that at least 100,000 jobs have the be generated every month for the unemployment rate to merely stay flat, let along improve. So what does one get when one uses the long-term average of the past 30 or so years which happens to be 65.8%? One gets an unemployment number that is 45% higher than the reported 8.1%, or 11.7%. That is what the real unemployment rate is assuming the US labor participation rate was realistic and not manipulated by the BLS cronies and the Bank of Spain assisted Arima-X-13 seasonal adjustment models. It also means that, as the chart below shows, the spread between the real and propaganda data hit an all time record, which was to be expected two months ahead of America's... presidential election.

Nice chart.

So, the unemployment rate was really much higher than reported for Ronald Reagan's entire presidency??

Hmmm...don't be so harsh on the Gipper, he's a conservative legend.

lol

You really have to deflect to over 30 years ago?

 

[TakeAStepBack]

Zero Hedge - Wikipedia, the free encyclopedia


Zero Hedge was founded in January 2009.[1] Posts are signed "Tyler Durden," a character in the Chuck Palahniuk book and movie Fight Club,[2] reflecting the news site's activist posture.[1] Despite speculation that "Tyler Durden" is a pseudonym of Daniel Ivandjiiski,[2][3] who was penalized for insider trading in New York in September 2008,[4] Ivandjiiski denies being a founder of Zero Hedge.

What does this have to do with anything, Turdsplatter?

 

[Sallow]

TARP was signed into law by Bush, adn it's "success" is debatable.

The auto bailout is a failure in that it skewed the industry and GM is teetering again on another bankruptcy. Which it should have to go through. Along with restructuring or a coffin.

The stimulus was only a success if you lower the bar far enough. What it was sold to accomplish, it fell extremely short. In other words based on what it was suppose to accomplish, it fucking failed, fella.

You're welcome.

TARP was a success. The fact that you have a wall street where America still owns majority shares in major financial companies proves it. Lehman was a "proof of concept".

And the auto industry is thriving again...not "teetering". American cars are on top..world wide. That's not failure.

And there was no bar "lowered", the stimulus met the numbers it was scored to meet. The number of people that kept their jobs or were employed, was essentially the numbers that were projected by the stimulus.

You guys either do not recognize the extent of the damage caused by the Bush administration or live in an alternate reality.

General Motors Is Headed For Bankruptcy -- Again - Forbes

General Motors Is Headed For Bankruptcy -- Again

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.

Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.

So, first you say TARP, which is a Bush policy, is a success. Then you say the Bush administration caused all the damage. You can't have it both ways. Well, youre a LOLberal. I guess you can. Of course Im sure you attribute the TARP "success" to Obama.

Revisiting Unemployment Predictions | e21 - Economic Policies for the 21st Century

Back in January 2009, Christina Romer and Jared Bernstein produced a report estimating future unemployment rates with and without a stimulus plan. Their estimates, which were widely circulated, projected that unemployment would approach 9% without a stimulus, but would never exceed 8% with the plan. The estimates, along with real unemployment rates, are posted below

In May 2011, using the latest figures available from the BLS, the unemployment rate reached 9.1%. In contrast, the Romer and Bernstein projections estimated that the unemployment rate would be around 8.1% for this month without a recovery plan, or 6.8% with a stimulus plan (which was ultimately passed). The actual unemployment rate has been consistently above Romer and Bernstein’s worse case scenario for the economy – and by a considerable margin. They projected that the unemployment rate would never climb above 9%. As time has passed, it turns out that only two months out of the last two years have seen an unemployment rate lower than 9%

That's interesting..

You can't break something then fix something..

Cool..go with that.

Because there's no arguing with that logic.

Cheers.