Obama warns of dire consequences without stimulus

[KMAN]

I thought all of these other stimulus packages were supposed to fix the problem?????

Obama warns of dire consequences without stimulus - Yahoo! News

 

[Old Rocks]

I think that by last fall, the problem had passed the point of fixing. We are all in for a very rough ride. The Second Great Republican Depression has started.

 

[Red Dawn]

Obama warns of dire consequences without stimulus

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I thought all of these other stimulus packages were supposed to fix the problem????

I was under the impression that the bail out was supposed to stop the bleeding and prevent an outright complete meltdown.


Also, this honesty is at least refreshing. The dude is saying we're in for a rough ride and it could take years to dig out of the hole. Bush, his supporters, and John McCain spent much of the last 18 months telling us that the fundamentals were strong, and the economy was in pretty darn good shape.

 

[indago]

i Was Under The Impression That The Bail Out Was Supposed To Stop The Bleeding And Prevent An Outright Complete Meltdown.


Also, This Honesty Is At Least Refreshing. The Dude Is Saying We're In For A Rough Ride And It Could Take Years To Dig Out Of The Hole. Bush, His Supporters, And John Mccain Spent Much Of The Last 18 Months Telling Us That The Fundamentals Were Strong, And The Economy Was In Pretty Darn Good Shape.

liars All!

 

[editec]

If there's a patient who needs CPR in one bed, and a patient in the next bed who doesn't need CPR, and you give the CPR to the wrong patient, guess what?

The CPR won't help.

THAT is what we're doing right now.

 

[KMAN]

I was under the impression that the bail out was supposed to stop the bleeding and prevent an outright complete meltdown.


Also, this honesty is at least refreshing. The dude is saying we're in for a rough ride and it could take years to dig out of the hole. Bush, his supporters, and John McCain spent much of the last 18 months telling us that the fundamentals were strong, and the economy was in pretty darn good shape.

It depends on how you define fundamentals. Bush is right, the fundamentals of a free market still are successful, this is until the government gets involved... Sure the economy as a hole is not great but the fundamentals of a free market are still solid.

By the way, could you imagine if Bush said the economy is in trouble... The papers and Democrats would've ripped him a bigger hole (if that's possible). Even though the President really doesn't have law making power... It all comes from Congress.

 

[del]

It depends on how you define fundamentals. Bush is right, the fundamentals of a free market still are successful, this is until the government gets involved... Sure the economy as a hole is not great but the fundamentals of a free market are still solid.

you're right. the economy as a hole is perfect. it just keeps getting deeper.

 

[RetiredGySgt]

I thought all of these other stimulus packages were supposed to fix the problem?????

Obama warns of dire consequences without stimulus - Yahoo! News

Where is Chris to tell us it is all Bush's fault?

 

[WillowTree]

So if the sky is falling why are they blowing so much money on inauguration doyathink? Another bailout my azz. Let the damn sky fall then we can get over it. I'm tired of the Washington Drama Queens,

 

[Avatar4321]

I predict there will be dire consequences with the stimulus.

 

[editec]

I predict there will be dire consequences with the stimulus.

Agreed.

There have been dire consequences all along, but it wasn't until the investor class starting whining that anybody actually gave a rat's ass.

 

[Kevin_Kennedy]

I think that by last fall, the problem had passed the point of fixing. We are all in for a very rough ride. The Second Great Republican Depression has started.

Except both the Great Depression and this current crisis were caused by the Federal Reserve, not the GOP.

 

[Annie]

I think that by last fall, the problem had passed the point of fixing. We are all in for a very rough ride. The Second Great Republican Depression has started.

Why Obama Will 'Own' the Recession - Capital Commerce (usnews.com)

Why Obama Will 'Own' the Recession
January 07, 2009 10:16 PM ET | James Pethokoukis | Permanent Link |
For eight decades, Democrats have successfully blamed Republican Herbert Hoover for the decade-long Great Depression. That, even though Franklin Roosevelt's New Deal failed to restore prosperity or dramatically lower unemployment, and his tax increases in 1937 snuffed out a nascent recovery.

Now today's Obamacrats are apparently going to try and Hooverize President Bush in an effort to shield themselves from the potential political fallout of a prolonged recession. It will take years to fix the American economy, Obama says, and years of trillion-dollar budget deficits to do it. And everyday it seems that Team Obama tries to lower economic expectations, such as bearishly predicting that unemployment would hit double-digits.

The not-so-subtle message in the middle of all these pessimistic prognostications: When ya'll go to vote in 2010 and 2012 and a) unemployment is still as high as it's been in decades, b) income growth is sluggish at best, c) the budget deficit is running at a trillion bucks a year, and d) stock prices remain stubbornly low -- hey, don't blame us, you can't rebuild Rome in a day or even in a first term. Remember, Bush really left us a mess....

...And Obama has good reason to doubt the patience of voters. Recall that bad economies propelled Ronald Regan and Bill Clinton to the White House -- and both gentlemen saw their respective parties suffer badly in the very next midterm election because of voter economic anxiety. To quote Oscar Rogers, the impatient "financial consultant" on Saturday Night Live, American voters want Washington to "Fix it!" and fix it fast.

And, really, how can Obama avoid taking responsibility when he will be so actively meddling in the economy? It will be his decision to forego deep and permanent new tax cuts, his decision to not extend the Bush tax cuts, his decision on how to spend the remaining $350 billion in TARP money, his decision to quasi-nationalize healthcare, his decision to push a cap-and-trade carbon emission program and his decision to spend hundreds of billions on a "green" industrial policy. It might even be his decision to try and reunionize the American laborforce. Obama will "own" the battered economy, perhaps almost literally, given Uncle Sam's bailout binge.

So what standard should voters hold Obama to? How about this one: The 1981-82 recession last lasted 16 months and was followed by an explosive recovery thanks largely to the Reagan tax cuts (even though they were slowly implemented). The current downturn, according to the National Bureau of Economic Research, started in December 2007. Mr. Obama better hurry.

 

[Oddball]

It's now official...

We are dealing with the biggest economic imbecile to ever hold the "office of the President-elect".

The endless string of platitudes, truisms, and out-and-out bullshit that are the standard fare of his "soaring" speeches aside, if what he is proposing (printing up more money and transfer payment scams) worked , we already would be out of the current economic mess, since we've already been treated to over $1 trillion of "economic stimulus" and bailouts.

I wish Doctors Walter E. Williams and Vernon Smith would've leapt up from the audience and beatren that moron about the head with a shileighlie!!

 

[RoadVirus]

I thought all of these other stimulus packages were supposed to fix the problem?????

Obama warns of dire consequences without stimulus - Yahoo! News

The Messiah-elect is saying the sky is falling to justify the pork projects he & his fellow Dumbos will be needing.

 

[Annie]

The Messiah-elect is saying the sky is falling to justify the pork projects he & his fellow Dumbos will be needing.

Are you insinuating this might be an Obama recession/depression?

 

[WillowTree]

It's now official...

We are dealing with the biggest economic imbecile to ever hold the "office of the President-elect".

The endless string of platitudes, truisms, and out-and-out bullshit that are the standard fare of his "soaring" speeches aside, if what he is proposing (printing up more money and transfer payment scams) worked , we already would be out of the current economic mess, since we've already been treated to over $1 trillion of "economic stimulus" and bailouts.

I wish Doctors Walter E. Williams and Vernon Smith would've leapt up from the audience and beatren that moron about the head with a shileighlie!!

he's making good on his promise of wealth redistribution. people who never paid a dime of "income tax" are going to get money back lot's of money, your money!

 

[Chris]

Yes, lowering taxes for the middle class is a bad thing, but lower taxes for the wealthy is a good thing.

 

[Gord]

Obama warns of dire consequences without stimulus - Yahoo! News

So what happened to "hope"?

 

[WillowTree]

So what happened to "hope"?

good effen question