Obamanomics: Trickle Up Poverty

mudwhistle

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Jul 21, 2009
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Headmaster's Office, Hogwarts
ObamaRepair.jpg


Obama has an abysmal economic record, but he still thinks he can attack Mitt Romney on his. Sure, this is easy when you play fast and loose with the facts. This is the guy that says Romney is the outsourcer in chief. Well Obama is the king of outsourcing. He's even outsourcing our laws.

Since Obama has been president the number of Americans collecting food stamp benefits went from over 28 million to over 44 million. The number of people finding jobs was over a million less than those applying for Social Security disability.

There are 1.3 million less taxpayers with jobs than when Obama became president. Only 63% of employable workers are participating in the job market today.

The debt has gone from $10 trillion to over $16 trillion and is projected to hit $20 trillion by the time he leaves office after his second term.

Obama's health care law hasn't helped anyone to date and it has been discovered to be the biggest tax increase in the world.....yet Obama claims he wants to cut taxes for the middle-class. Fact is he's not cutting taxes for anyone. He's raising them. It's all in the wording. Obama claimed in Cleveland that tax-cuts are the cause of our economic collapse, yet he's been talking this week about keeping the Bush tax-cuts in place for one more year, minus cuts for the rich of course.

His Attorney General is fighting several states that are trying to clean up their voter rolls claiming discrimination is involved and then he gives a speech at the NAACP Convention that required a government issued photo I.D. to enter.

Jeffery Immelt, a member of the Obama Administration, outsourced over a million jobs the last 3 years to China in his plants as CEO of General Electric yet Obama feels he can attack Romney about outsourcing.

Obama is signing away United States sovereignty to the U.N. taking away our rights to our own oil and giving away our rights to bare arms in a series of 5 irreversible treaties. By the end of the year foreign countries will have more control over American wealth than we will.

This is all part of Obama's plan for the decline of America.

If you listen to an Obama speech he makes his lies sound valid but it's all in the presentation. It's all garbage. It's geared for the folks that don't have the time to pay attention. The right has to spend most of their time correcting his bold-faced lies and even when he's caught lying he simply doubles down on the lies hoping that not enough people heard they were lies. When you listen to MSNBC you wouldn't know the other side of the story they are so much in the tank for him.

Obama said in Cleveland, “Over the last three years, I’ve cut taxes for the typical working family by $3,600. I’ve cut taxes for small businesses 18 times.” But Obama’s “tax cuts” have almost all involved tax credits and other loopholes, not reductions in rates, which he is increasing at an historic pace, as discussed last week. It is reductions in rates that promote economic growth and prosperity, because it is the marginal tax rate, or the rate on the next dollar of income, that determines whether the producer is going to undertake the activity to produce that income. Tax credits are really no different than welfare checks, particularly the refundable tax credits Obama has favored, which pay the beneficiary the full amount of the credit regardless of tax liability. But welfare does not promote economic growth and prosperity, Nancy Pelosi to the contrary notwithstanding

Moreover, in deriding regulatory relief from the exploding regulatory costs he is imposing on the economy, Obama also again identified such regulatory relief, or deregulation, as a chief cause of the financial crisis. He said, “During the last decade, there was a specific theory in Washington about how to meet this challenge….We were told that fewer regulations – especially for big financial institutions and corporations – would bring about widespread prosperity. [But] how did this economic theory work out?”

Obama added, “Without strong enough regulations, families were enticed, and sometimes tricked, into buying homes they couldn’t afford. Banks and investors were allowed to package and sell risky mortgages. Huge reckless bets were made with other peoples’ money.”

Notice that after almost 4 years of Obama’s Presidency, no regulations have been adopted to counter any of these supposed problems. Banks and investors are still allowed to package and sell mortgages, which still bear risk. Financial institutions still make bets with other peoples money, because that is the business they are in. And nobody has ever explained how the financial industry can make good money by tricking people into buying homes that they can’t afford.
Obamanomics: Economics For Dummies - Forbes
 
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Not to worry Mud..........just 3 1/2 more months before all this shit gets mothballed for generations. This generation, like in the late 70's, just had to see for itself the folly that is the Keynesian model. They've now gotten the message. Its gonna happen every few generations..............a smooth talking empty suit wowing the electorate and then crashing and burning on substance. It'll happen again someday, but not for quite some time.
 
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ObamaRepair.jpg


Obama has an abysmal economic record, but he still thinks he can attack Mitt Romney on his. Sure, this is easy when you play fast and loose with the facts. This is the guy that says Romney is the outsourcer in chief. Well Obama is the king of outsourcing. He's even outsourcing our laws.

Since Obama has been president the number of Americans collecting food stamp benefits went from over 28 million to over 44 million. The number of people finding jobs was over a million less than those applying for Social Security disability.

There are 1.3 million less taxpayers with jobs than when Obama became president. Only 63% of employable workers are participating in the job market today.

The debt has gone from $10 trillion to over $16 trillion and is projected to hit $20 trillion by the time he leaves office after his second term.

Obama's health care law hasn't helped anyone to date and it has been discovered to be the biggest tax increase in the world.....yet Obama claims he wants to cut taxes for the middle-class. Fact is he's not cutting taxes for anyone. He's raising them. It's all in the wording. Obama claimed in Cleveland that tax-cuts are the cause of our economic collapse, yet he's been talking this week about keeping the Bush tax-cuts in place for one more year, minus cuts for the rich of course.

His Attorney General is fighting several states that are trying to clean up their voter rolls claiming discrimination is involved and then he gives a speech at the NAACP Convention that required a government issued photo I.D. to enter.

Jeffery Immelt, a member of the Obama Administration, outsourced over a million jobs the last 3 years to China in his plants as CEO of General Electric yet Obama feels he can attack Romney about outsourcing.

Obama is signing away United States sovereignty to the U.N. taking away our rights to our own oil and giving away our rights to bare arms in a series of 5 irreversible treaties. By the end of the year foreign countries will have more control over American wealth than we will.

This is all part of Obama's plan for the decline of America.

If you listen to an Obama speech he makes his lies sound valid but it's all in the presentation. It's all garbage. It's geared for the folks that don't have the time to pay attention. The right has to spend most of their time correcting his bold-faced lies and even when he's caught lying he simply doubles down on the lies hoping that not enough people heard they were lies. When you listen to MSNBC you wouldn't know the other side of the story they are so much in the tank for him.

Obama said in Cleveland, “Over the last three years, I’ve cut taxes for the typical working family by $3,600. I’ve cut taxes for small businesses 18 times.” But Obama’s “tax cuts” have almost all involved tax credits and other loopholes, not reductions in rates, which he is increasing at an historic pace, as discussed last week. It is reductions in rates that promote economic growth and prosperity, because it is the marginal tax rate, or the rate on the next dollar of income, that determines whether the producer is going to undertake the activity to produce that income. Tax credits are really no different than welfare checks, particularly the refundable tax credits Obama has favored, which pay the beneficiary the full amount of the credit regardless of tax liability. But welfare does not promote economic growth and prosperity, Nancy Pelosi to the contrary notwithstanding

Moreover, in deriding regulatory relief from the exploding regulatory costs he is imposing on the economy, Obama also again identified such regulatory relief, or deregulation, as a chief cause of the financial crisis. He said, “During the last decade, there was a specific theory in Washington about how to meet this challenge….We were told that fewer regulations – especially for big financial institutions and corporations – would bring about widespread prosperity. [But] how did this economic theory work out?”

Obama added, “Without strong enough regulations, families were enticed, and sometimes tricked, into buying homes they couldn’t afford. Banks and investors were allowed to package and sell risky mortgages. Huge reckless bets were made with other peoples’ money.”

Notice that after almost 4 years of Obama’s Presidency, no regulations have been adopted to counter any of these supposed problems. Banks and investors are still allowed to package and sell mortgages, which still bear risk. Financial institutions still make bets with other peoples money, because that is the business they are in. And nobody has ever explained how the financial industry can make good money by tricking people into buying homes that they can’t afford.
Obamanomics: Economics For Dummies - Forbes

Would be funny if it wasn't so sad.
 

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