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Forum Post: Economy Saying No to Second Obama Term

Posted 8 years ago on July 12, 2012, 2:21 p.m. EST by SteveKJR (-497)
This content is user submitted and not an official statement

Seems to me the cards are stacked agains him. It has taken him so long to figure out what is going on that it's too late. He is clueless when it comes to understanding the economy of the United States

Obama didn't come to live in the United States until he was around 19 and when he did finally arrive here he never really got a taste of what the United States was all about.

He went to college, hung around with socialists and after graduation, worked as a socialite for the government.

He has and never had any knowledge as to how folks in the US lived on a day to day basis.

He lived in Hawaii for much of his younger years and if anyone has ever lived in Hawaii, you know that Hawaii has its own culture that people who live there are exposed to.

Because of this, Obama never had a grasp on understanding of how the US economy works and continues to stumble blaiming big business or Bush for all that has gone wrong.

He made a comment about going on vacation and traveling in a greyhound bus and staying at Howard Johnson lodge at the age of 11.

There were no Howard Johnson Lodges in Hawaii when he was 11 and I doubt there were any greyhound busses to travel thourgh the countryside in Hawaii.




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[-] 2 points by ComeTogetherNOW (650) 8 years ago

Bain Fart. Whoopsy...

Yeah, hail to the New Out Sorcerer IN Chief, Mitt Romdee

[-] 1 points by jimmycrackerson (940) from Blackfoot, ID 8 years ago

How do we stop a sorcerer? Maybe with a white dragon?

[-] 1 points by ComeTogetherNOW (650) 8 years ago

Yes, the dragon...

That and it best spit fire at least a mile or two... ((((: > ) )

Poor Romdee, seems that Bain Fart got a little messy today. Time to get the boots out along with a big ladder. Don't forget to pinch your nose, the stench is almost about deadly.

[-] 2 points by JackHall (413) 8 years ago

Do you think Americans are in a trance? Obama needs to act more like a Democrat.

The United States has endured 8 years Presidents of Ronald Reagan, 4 years of G H W Bush, 8 years of Bill Clinton, and 8 years of G W Bush. That’s about 30 years dominated by Republican Presidents: 62.5% Republican vs 37.5% Democrat. Were these our Golden Years? Listening to Fox News and right-wing talk radio it would appear that nostalgia has over taken the country and they are begging to have a Republican President populate the Whitehouse again. How does any President repair 8 to 32 years of bedlam in 4?

And tell us what you know about Ronald Reagan's, GHW Bush’s, GW Bush’s and Bill Clinton's presidencies? American people have a poor memory. Fortunately, we still have archive footage here.

Reagan WORST President Ever

http://www.youtube.com/watch?v=-b1ePD_Hi_w [right click]

Ronald Reagan and GW Bush worst Presidents ever

http://www.youtube.com/watch?v=N6CpDFcB6Pc [right click]

G H W Bush and Iran Contra

http://www.youtube.com/watch?v=FqwQw3THRvU [right click]

Reagan on Iran Contra

http://www.youtube.com/watch?v=LgwxjG7y9eE&feature=related [right click]

G H W Bush in the 90s

http://www.youtube.com/watch?v=OAT03M1BlZs [right click]

Bill Clinton vs Franklin Roosevelt

http://www.youtube.com/watch?v=jkrVsYsQIcg&list=PLC9D27C32BE298724&feature=plpp_play_all [right click]

Mugging Main Street

http://www.democracynow.org/2010/9/7/robert_scheer_on__the_great [right click]

Last, but not least: G W Bush is proof the Republican Party doesn’t know how to govern to benefit the majority of citizens. Their policies have brought us to the deepest recession in 80 years. They do not know how to choose a President, and are incapable of removing an incredibly Republican Presidents. Mitt Romney’s endorsement by G H W Bush should sound alarms for all Democrats and Independents to vote Republicans out of government and politics.

There could be Political Science courses on the US President from 2001-2008’s public speaking record. Bushisms 101

http://www.youtube.com/watch?v=EGRYPYuFZLk&list=PLCB4C3FA3B212EE30&feature=plpp_play_all [right click]

Bushisms 122

http://www.youtube.com/watch?v=kcj_Jsifov4&list=PL6F3F4A1AAE8B7933&feature=plpp_play_all [right click]

Bushisms 211

http://www.youtube.com/watch?v=AioJbNL1JS8&list=PL2BEC5635A5CAAC8D&feature=plpp_play_all [right click]

Bushisms 390

http://www.youtube.com/watch?v=pWuIEIBN3sY&list=PL36D17D01D49B4319&feature=view_all [right click]

[-] 0 points by betuadollar (-313) 8 years ago

Have you ever heard of the word "rant"? Bush is NOT the here and now and Americans are still being sold out.

[-] 1 points by JackHall (413) 8 years ago

The government needs to create jobs in the public sector. Obama should create a Department of Public Works. Borrow $700 billion from Federal Reserve to start to pay salaries and benefits and hire unemployed Americans to do work big business won’t do or isn’t going to do or can’t do. Their income tax, the goods and service produced will turn the economy around. We still need affordable housing, roads, bridges, schools, libraries, flood control, power generation, border security, manufacturing, architecture, art, theater, film, music, literature. We can’t depend upon private enterprise for everything.

There are no magic beans for this. The Republicans who ran the government for 8 years did not see economic collapse coming. Republicans who had been in government for decades thought the economy was fundamentally sound.

“[September 15, 2008] of all days, John McCain's stubborn insistence that the 'fundamentals of the economy are strong' shows that he is disturbingly out of touch with what's going in the lives of ordinary Americans. Even as his own ads try to convince him that the economy is in crisis, apparently his 26 years in Washington have left him incapable of understanding that the policies he supports have created an historic economic crisis.”

Economist Mike Kimel notes that the five former Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP, while the last four Republican Presidents (George W. Bush, George H. W. Bush, Ronald Reagan, and Gerald Ford) all oversaw an increase in the country's indebtedness.

The Republicans don’t have a plan. It’s their fault. “Fool us once shame on you. Fool us twice. We can’t get fooled again.”

According to the U.S. National Bureau of Economic Research (the official arbiter of U.S. recessions) the recession began in December 2007. US mortgage-backed securities, which had risks that were hard to assess, were marketed around the world. A more broad based credit boom fed a global speculative bubble in real estate and equities, which served to reinforce the risky lending practices. The precarious financial situation was made more difficult by a sharp increase in oil and food prices. The emergence of sub-prime loan losses in 2007 began the crisis and exposed other risky loans and over-inflated asset prices. With loan losses mounting and the fall of Lehman Brothers on September 15, 2008, a major panic broke out on the inter-bank loan market. As share and housing prices declined, many large and well established investment and commercial banks in the United States and Europe suffered huge losses and even faced bankruptcy, resulting in massive public financial assistance.

A global recession has resulted in a sharp drop in international trade, rising unemployment and slumping commodity prices. In December 2008, the National Bureau of Economic Research (NBER) declared that the United States had been in recession since December 2007. Several economists have predicted that recovery may not appear until 2011 and that the recession will be the worst since the Great Depression of the 1930s. Paul Krugman, who won the Nobel Memorial Prize in Economics, once commented on this as seemingly the beginning of "a second Great Depression." The conditions leading up to the crisis, characterized by an exorbitant rise in asset prices and associated boom in economic demand, are considered a result of the extended period of easily available credit and inadequate regulation and oversight.

The recession has renewed interest in Keynesian economic ideas on how to combat recessionary conditions. Fiscal and monetary policies have been significantly eased to stem the recession and financial risks. Economists advise that the stimulus should be withdrawn as soon as the economies recover enough to "chart a path to sustainable growth".

Wikipedia History of US Debt

http://en.wikipedia.org/wiki/History_of_the_United_States_public_debt [right click]

An active role for government is intervention through monetary and fiscal policies to control the business cycle. When private spending was too low, governments could take up the slack and spend in order to maintain domestic aggregate demand.

Keynesian Economics

http://www.nextnewdeal.net/what-keynesian-economics [right click]

It isimportant not to invest these funds in off-shore economies no matter how profitable. Profiteering and efficiency are not the objectives. We need millions of the newly employed to buy stuff made in America.

[-] 0 points by betuadollar (-313) 8 years ago

The Democrats don't have a feasible plan, either. We've tried public works projects before and for the most part, they failed; they no longer exist. While you demand more federal jobs, municipalities nationwide are laying people off because there is not enough wealth to support the public sector.

As I've stated many times before, contrary to popular belief, economy is an apparatus that lives entirely outside ourselves. "Keynesian" is meaningless; it's not "economy," it's policy. The only way policy can impact regional economies is to impose substantial restriction, militarily or through force of law, and there is nothing about the progressive agenda that suggests anything but further imposition. But a plus here, a minus there, mean little to the machinations of "free" economy which must seek it's own self-leveling.

Made in America, are you kidding me? This administration hired the Chinese, and employed the Chinese here in America, to install the largest solar array in our history; they don't care about you, they care about power and wealth.

I vote Republican because I would hope, when they lean, that they will lean "right." And if not, I will be here to remind them, that they are guilty of violating the will of our fathers - it is a mandate they MUST respect - and something the left, primarily as more recent immigrants, has been trying to dismiss for over a century.

You know, the problem with all the politics is that I don't think people realize that even "left" and "right" are rooted themselves in human nature - while one side of us wants to lie on a beach passionately contemplating and patiently waiting for coconuts to gently waif into our laps, the stoic in us reminds, demands, that we deny all pleasure to work 12 hour days. Both of these "political" agendas, spring directly from within; if this were not true, they would not exist through our votes as an extension of inner desire.

[-] -1 points by SteveKJR (-497) 8 years ago

Lets not lose track of what is being talked about - we are talking about what's going on with todays president with todays economy and todays debt.

He owns it and he can't handle it. He doesn't know what to do except blame the rich and wealthy and GW Bush.

I have never in my lifetime have seen any other president who was up against a challange blame someone else because they failed to meet that challenge.

It's been almost 4 years now and the only thing coming out of his mouth is blame Bush, blame Congress, blame the weather, blame the Sunami in Japan, blame China trade, blame the Euro, blame the European economy -

Seems to me he places blame on everyone else but himself. He has made a 180 degree turn with his ideas from when he first came into office until now.

He said he wanted change - he said he wanted transparency - he said he wanted to get rid of Washington Lobbyists - he said he would get rid of Guantanamo Jails, he said he would stop the war in Afganastan

The only thing he changed was what he was going to do - he has managed to put us further in debt with no results.

And if he was supposed to be so smart as he claims to be how come he didn't know how long it was going to take for the economy to recover - He didn't all he did was smoozed everyone into thinking he was the greatest thing since sliced bread.

Well you now have your slice of bread - the only thing lacking is the line to get in to get it.

[-] 1 points by JackHall (413) 8 years ago

He doesn't own it. He might own it if the National Debt was zero when he took office. The Republicans owned it until Americans voted them out.

Even friendlier Obama’s critics say he tried to run a bipartisan government when Republicans only wanted to prevent Democrats from accomplishing anything during his presidency. Are you seriously blaming Obama for not having fixed the economy in only 3 years? You don’t understand how the economy is affected by previous administrations. According to a NY Times analysis, only 10% of the current deficit solely belongs to Obama’s policies.

Wiki –

From 1981 to 1989, nominal debt held by public nearly tripled. On the one hand, President Ronald Reagan increased military spending and lowered tax rates, while on the other hand congressional Democrats blocked attempts to reverse expansion in social welfare spending. As a result, debt held by the public as a share of GDP increased from 26.2% in 1980 to 41% by the end of the 1980s. Debt held by the public had risen to nearly 50% of GDP in the early 1990s, but fell to 39% of GDP by the end of the decade. The public debt burden during the presidency of Bill Clinton between 1992 and 2000, fell due in part to decreased militarily spending after Cold War, 1990, 1993 and 1997 budget deals, gridlock between White House and Congress, and increased tax revenue resulting from the Dot-com bubble. The budget controls instituted in the 1990s successfully restrained fiscal action by the Congress and the President and together with economic growth contributed to the budget surpluses that materialized by the end of the decade. These surpluses led to a decline in the debt held by the public, and from fiscal years 1998 through 2001, the debt-to-GDP measure declined from about 43 percent to about 33 percent. Debt relative to GDP rose due to recessions and policy decisions in the early 21st century. From 2000 to 2008 debt held by the public rose from 35% to 40%, and to 62% by the end of fiscal year 2010. During the presidency of George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008, due to decreasing tax rates and two unpaid wars. Federal spending under President George W. Bush remained at around 40% of GDP during his two terms in office; however, the combination of less tax revenue, two wars, a financial meltdown in 2008, the Stimulus and increased federal spending sent the public debt skyrocketing to 63% during Barack Obama's first two years in office (2009-2010). Under President Barack Obama, the debt increased from $10.7 trillion in 2008 to $15.5 trillion by February 2012.

The U.S. budget situation has deteriorated significantly since 2001, when the CBO forecast average annual surpluses of approximately $850 billion from 2009–2012. The average deficit forecast in each of those years as of June 2009 was approximately $1,215 billion. The New York Times analyzed this roughly $2 trillion "swing", separating the causes into four major categories along with their share:

• Recessions or the business cycle (37%);

• Policies enacted by President Bush (33%);

• Policies enacted by President Bush and supported or extended by President Obama (20%); and

• New policies from President Obama (10%).

CBO data is based only on current law, so policy proposals that have yet to be made law are not included in their analysis. The article states that "President Obama's agenda ... is responsible for only a sliver of the deficits", but that he "...does not have a realistic plan for reducing the deficit...." Presidents do not, acting alone, have constitutional authority to levy taxes or spend money; all such proposals must originate in Congress, but the President has a veto over new laws, and his priorities influence Congressional action. Peter Orszag, the OMB Director under President Obama, stated in a November 2009 that of the $9 trillion in deficits forecast for the 2010–2019 period, $5 trillion are due to programs from the prior administration, including tax cuts from 2001 and 2003 and the unfunded Medicare Part D. Another $3.5 trillion are due to the financial crisis, including reductions in future tax revenues and additional spending for the social safety net such as unemployment benefits. The remainder are stimulus and bailout programs related to the crisis.

Wikipedia History of US Debt

http://en.wikipedia.org/wiki/History_of_the_United_States_public_debt [right click]

[-] -1 points by salta (-1104) 8 years ago

obama is doing exactly what he was supposed to do. destroy the usa as founded.

[-] 2 points by PandoraK (1678) 8 years ago

Just a short news flash for you...Hawaii has been a state since 1959, which effectively MADE it part of the United States.

Hawaii has it's own culture? So does Chinatown in NYC and San Francisco.

Do you even know what the word socialite means? Totally inappropriate in the context.

The vacation comment is you making assumptions, bad assumptions at that.

Try reading, there is REAL information out there.

[-] 0 points by SteveKJR (-497) 8 years ago

I never said anything about Hawaii not being a state, and Obama is a Socialite - and a Socialists.

As far as the vacation assumptions - he said it I didn't - prove me wrong.

With regard to Chinatown in NYC and San Francisco - you are correct and add to that that those people do have the choice or opportunity to travel across country to see what the rest of America is about - can't do that in Hawaii.

[-] 1 points by PandoraK (1678) 8 years ago

Funny thing is, even I who has only gone on ONE vacation in her entire life, didn't stay in the state I lived in...that is your assumption...that a vacation meant staying in HI.

[-] 1 points by JackPulliam3rd (205) 8 years ago

Didn't you hear about the upcoming interview he gave? He just forgot to tell a good story. That's what went wrong.


[-] 0 points by SteveKJR (-497) 8 years ago

You know this is a very interesting point. Read the following of what he said:

The mistake of my first term – couple of years – was thinking that this job was just about getting the policy right,” Obama told CBS News’ Charlie Rose. “And that’s important, but, you know, the nature of this office is also to tell a story to the American people that gives them a sense of unity and purpose and optimism, especially during tough times

So, he thinks that "telling a story to the American people to give them Unity, purpose and optimism during tough times is the answer.

Is he that much of a "dumb ass". Telling a story to the American people - I think the American people heard enough of his stories and it's always been the same "Blame Bush"

He has yet to tell a story on how he's going to get the economy and jobs back - but he can't because he doesn't know how.

He just wants to tell us stories.

[-] 0 points by betuadollar (-313) 8 years ago

I don't believe Obama has ever participated in the American economy or any economy for that matter.

Why would anyone focused on creating Federal jobs permit JP Morgan a profit of 5+ billion in the issuance of Food Stamp cards?

And how much do you want to bet they don't issue healthcare cards as well?

[-] 0 points by SteveKJR (-497) 8 years ago

Lets not forget that JP Morgan is also involved in issuing housing loans for Fannie Mae and Freddie Mac - it's in the billions - and they get a profit off every loan made.

[-] 0 points by obombya (11) 8 years ago

you better watch what you say or obama will put you on his kill list. look out for the drones,