Hopey Changey Not Working So Well

[Annie]

On a believer losing faith:

Hot Air Zuckerman: Obamanomics “our economic Katrina”

Zuckerman: Obamanomics “our economic Katrina”
Share
37
POSTED AT 2:15 PM ON JULY 17, 2010 BY ED MORRISSEY

How far out of favor has Barack Obama fallen with the business community? Self-professed Obama supporter and occasional speechwriter Mort Zuckerman wrote a lengthy indictment of Obama’s economic policies in US News & World Report yesterday afternoon, outlining the many ways in which Obama has shown his hostility to capital and private markets. Zuckerman blasted his “gratuitous and overstated demonization of business,” and a lot more:

But one unfortunate pattern that has emerged in the last 18 months is to lay all the blame for our difficulties only on the business community and the financial world. This quite ignores the role of Congress in many areas, but most glaringly in forcing Fannie Mae, Freddie Mac, and the Federal Housing Administration to back loans to people who could not afford them. And not to mention the role of the Securities and Exchange Commission, which in 2004 sanctioned higher levels of leverage for financial firms, from 12 times equity to over 30 times equity.

This predilection to blame business is manifest in the unnecessary and provocative anti-business sentiment revealed by President Obama in a recent speech that was supposed to be seeking the support of the business community for a doubling of exports over the next five years. “In the absence of sound oversight,” he said, “responsible businesses are forced to compete against unscrupulous and underhanded businesses, who are unencumbered by any restrictions on activities that might harm the environment, or take advantage of middle-class families, or threaten to bring down the entire financial system.” This kind of gratuitous and overstated demonization of business is exactly the wrong approach. It ignores the disappointment of a stimulus program that was ill-designed to produce the jobs the president promised—that famous 8 percent unemployment ceiling.​

As we have discussed, the media and the Democrats seem to forget about the primary role previous government interventions had in creating our current mess. The anti-capital rhetoric has been a calculation designed to distract people from the failure of previous social engineering — so that Democrats can offer even more interventions as a tonic, which is akin to offering Socrates a nice glass of potassium cyanide to cure his hemlock hangover. But it’s not just the rhetoric, Zuckerman insists, and delivers a devastating conclusion:

But it’s not just the rhetoric that undermines the confidence the business community needs to find if it is to invest. Consider the new generation of regulatory rules, increased bureaucracy, and higher taxes created by the Obama administration. For example, the new financial regulation bill includes nearly 500 “rule-makings,” studies, and reports, compared with just 14 in total for the controversial Sarbanes-Oxley bill, passed after the financial scandals of Enron and WorldCom. The disillusionment has spread to the Business Roundtable, the U.S. Chamber of Commerce, and the National Federation of Independent Business (NFIB), which represents small businesses that normally account for roughly 60 percent of job creation.​

The chief economist of the NFIB, William Dunkelberg, put it clearly: Small business owners “do not trust the economic policies in place or proposed.” He also said, “The U.S. economy faces hurricane force headwinds and the government is at the center of the storm, making an economic recovery very difficult.”

Our economic Katrina, in short.

I’d say that the Hopeandchangillusion has worn off from Zuckerman and the entire business community — and the rest of those not living within ivory towers.

 

[EriktheRed]

So we have another supposed supporter of the President who's actually surprised that he's pursuing the agenda he ran on?


Wow.

 

[Annie]

So we have another supposed supporter of the President who's actually surprised that he's pursuing the agenda he ran on?


Wow.

LOL! Another? Who btw was a speech writer for Obama. Gee, the problem is????

 

[EriktheRed]

So we have another supposed supporter of the President who's actually surprised that he's pursuing the agenda he ran on?


Wow.

LOL! Another? Who btw was a speech writer for Obama. Gee, the problem is????

Nope....


Mort Zuckerman Is Not an Obama Speechwriter -- Daily Intel

 

[Annie]

So we have another supposed supporter of the President who's actually surprised that he's pursuing the agenda he ran on?


Wow.

LOL! Another? Who btw was a speech writer for Obama. Gee, the problem is????

Nope....


Mort Zuckerman Is Not an Obama Speechwriter -- Daily Intel

You didn't read this before posting? Thought so.

 

[EriktheRed]

LOL! Another? Who btw was a speech writer for Obama. Gee, the problem is????

Nope....


Mort Zuckerman Is Not an Obama Speechwriter -- Daily Intel

You didn't read this before posting? Thought so.

Well, I just reread it and it still says he wasn't a speechwriter for him.

As far as the OP goes, whatever. Shouldn't have come as too much of a shock that a Dem President with a Dem congress wasn't going to be quite as friendly to corproate America's bottom line as the other party would have been.

 

[NYcarbineer]

Businessess aren't hiring because we are cycling through an economic slowdown that makes for lower demand for the goods and services businesses produce, it's really that simple.

Businesses, however, have decided to pretend that it is government policy to blame, in other words, they are trying to create a false narrative, that can serve to exploit what is simply a natural cyclical economic occurrence, for the purpose of extracting even more future advantage for themselves.

In short, all this collective pissing and moaning from the corporate interests is a con.

 

[bucs90]

Businessess aren't hiring because we are cycling through an economic slowdown that makes for lower demand for the goods and services businesses produce, it's really that simple.

Businesses, however, have decided to pretend that it is government policy to blame, in other words, they are trying to create a false narrative, that can serve to exploit what is simply a natural cyclical economic occurrence, for the purpose of extracting even more future advantage for themselves.

In short, all this collective pissing and moaning from the corporate interests is a con.

HOLY JESUS H CHRIST!!!! A massive breakthrough!!!!!!

".........that can serve to exploit what is SIMPLY A NATURAL CYCLICAL economic occurrence......"


SO.......if I read that "natural cyclical occurrence" part right, you're saying that in fact it is NOT George W. Bush's fault??????????

 

[bucs90]

0-1.4 years in: Bad economy = Bush's fault
1.5+ years in: STILL a bad economy = just a natural cyclical occurrence, thats all.

 

[Sarah G]

They hopey changey Sarah Palin knock off is pretty silly.

She and you seem about 12 years old saying it.

 

[bigrebnc1775]

Nope....


Mort Zuckerman Is Not an Obama Speechwriter -- Daily Intel

You didn't read this before posting? Thought so.

Well, I just reread it and it still says he wasn't a speechwriter for him.

As far as the OP goes, whatever. Shouldn't have come as too much of a shock that a Dem President with a Dem congress wasn't going to be quite as friendly to corproate America's bottom line as the other party would have been.

From your link:
Neither Jon Favreau nor Ben Rhodes, who have "been closely involved in every speech the President has given since 2005," had "ever met or spoken to Mort Zuckerman," Politico reported.

Politico reported????? Is Politico the same as media matters and NPR?
Stupid ***** like jillian do not like what I just posted. Must have hit a truth nerve.

 

[jillian]

They hopey changey Sarah Palin knock off is pretty silly.

She and you seem about 12 years old saying it.

they sound like imbeciles saying it.

but its their way of making sure no one can have intelligent discussions about what's right and what's wrong.

it's also being said by people who started spewing that type of silliness on election day 2008.

 

[Mr. Shaman]

Businessess aren't hiring because we are cycling through an economic slowdown that makes for lower demand for the goods and services businesses produce, it's really that simple.

Businesses, however, have decided to pretend that it is government policy to blame, in other words, they are trying to create a false narrative, that can serve to exploit what is simply a natural cyclical economic occurrence, for the purpose of extracting even more future advantage for themselves.

In short, all this collective pissing and moaning from the corporate interests is a con.

Bingo!!!!!!!!!!!!!!

(How refreshing, to hear some actual-maturity/experience, here, from-time-to-time!!)

​

 

[Mr. Shaman]

Businessess aren't hiring because we are cycling through an economic slowdown that makes for lower demand for the goods and services businesses produce, it's really that simple.

Businesses, however, have decided to pretend that it is government policy to blame, in other words, they are trying to create a false narrative, that can serve to exploit what is simply a natural cyclical economic occurrence, for the purpose of extracting even more future advantage for themselves.

In short, all this collective pissing and moaning from the corporate interests is a con.

SO.......if I read that "natural cyclical occurrence" part right, you're saying that in fact it is NOT George W. Bush's fault??????????

No.....it's merely that ol' Bush/Rove-tactic of taking-advantage of (too) many Americans' ignorance of all-things-Historical.

​

 

[Dr Grump]

0-1.4 years in: Bad economy = Bush's fault
1.5+ years in: STILL a bad economy = just a natural cyclical occurrence, thats all.

More soundbites...trying to shift the blame...

Because you know, it only takes 15 months to try and claw back a $10 trillion deficit...

 

[sparky]

i find it hard to see wall street's collapse as anything other than a phenomenon they created themselves , with the aid of governmental insiders , many of which as GS alumni

 

[Mr. Shaman]

So we have another supposed supporter of the President who's actually surprised that he's pursuing the agenda he ran on?


Wow.

....And, then....ya' got those REAL Conservatives blowing-the-whistle on the 'Baggers nostalgia for lynching!

​

 

[Mr. Shaman]

Nope....


Mort Zuckerman Is Not an Obama Speechwriter -- Daily Intel

You didn't read this before posting? Thought so.

Well, I just reread it and it still says he wasn't a speechwriter for him.

As far as the OP goes, whatever. Shouldn't have come as too much of a shock that a Dem President with a Dem congress wasn't going to be quite as friendly to corporate America's bottom line as the other party would have been.

....And, the other-Party's CHAMPION For Corporate America isn't doing all-that-well, EITHER!!!!

*

 

[editec]

Drill Baby Drill.

 

[Greenbeard]

They hopey changey Sarah Palin knock off is pretty silly.

She and you seem about 12 years old saying it.

they sound like imbeciles saying it.

Nah, they sound like a coupla mavericks, rufflin' some feathers.