Kathianne
10-27-2009, 05:47 PM
No, not an anti-war rant, rather shockingly, an anti-Obama thought or two. I read the following, something to think about for anyone considering running in 2012:
http://pajamasmedia.com/blog/dow-10000-and-our-lowered-expectations/
gajillions of links:
Our Lowered Economic Expectations
Posted By Tristan Yates On October 27, 2009 @ 12:40 am In . Column2 02, . Positioning, Money, Politics, US News | 26 Comments
The Dow Jones Industrial Average recently reached 10,000 again, rising 50% since March and reclaiming a major market milestone. September job losses were also less than expected, keeping unemployment under 10%. Moody’s [1], Google [2], and even the New York Times [3] say the recession is over.
That means mission accomplished, right? Surely President Obama deserves the Nobel Prize in economics too, or at least a day off from the never-ending criticism spewing forth from far-right outfits like the Atlantic [4] and U.S. News and World Report [5].
Unfortunately, as usual, reality has to intrude on this president and his cheerleaders. In fact, the DJIA closed over 9,000 [6] on January 2. Then the president came into office, passed the so-called stimulus, and immediately attacked the finance, energy, tourism, health care, and automotive industries — and where did the Dow go? It went to 6,500 by March.
In the 1980s and 2000s, it became part of the narrative to criticize both Reagan and Bush for the slow job growth (exaggerated into the “jobless recovery”) and an unequal distribution of wealth that helped those on Wall Street at the expense of Main Street. Reaganomics [7] was a dirty word among liberals, even as Ronald Reagan’s policies were pulling the country out of Democratic malaise [8] and stagflation.
Now we have Obamanomics, which has no jobs and no recovery. In May, unemployment [9] among adult workers with a high school education was 10.0%. In September, it hit 10.8%. For African-Americans it is up from 14.9% to 15.4%. For Hispanics it is stuck at 12.7%. Nearly one million homes went into foreclosure [10] in Q3, an all-time record....
...Let’s turn the calendar back to January and travel to an America that might have been. President-elect Obama asks his best economic advisors what it will take to get our economy moving again. Then he keeps his campaign promise [15] and listens.
First, he tells Congress that he will veto any tax increase on anyone anywhere, as a recession is the wrong time to raise taxes. From now on the Bush tax cuts [16] are the American tax cuts and he stands behind them.
Next, he brings in T. Boone Pickens and the rest of the American energy industry and says in his best Texas accent, git-R-done [17]. Offshore drilling, nuclear power plants, natural gas pipelines, whatever it takes. Cut oil imports and the trade deficit in half in five years.
Third, he signs mortgage relief into law. No, not that failed program that turned CNBC’s bond market analyst [18] Rick Santelli into a million-hit YouTube star. Instead the administration slashes mortgage rates for responsible owners and purchasers — those individuals with good credit and home equity. For once we use the faith and credit of the USA to reward financial responsibility.
That transformative 2009 economic agenda would have jump-started the recovery, and by now the Dow would be at least 2,000 points higher and unemployment at least two points lower. And because it wouldn’t cost a dime, tax revenues would recover and the American dollar would be a symbol of strength and optimism rather than another looming disaster [19].
By focusing like a laser [20] on the economy in 2009, President Obama would have held the centrist ground he took during the campaign, triangulated an unpopular Congress, deflected most personal criticism, and ultimately taken full credit for the recovery. His approval rating would be in the 70s and his political capital limitless.
The road not taken. Where we are now is nowhere. Nine months have been spent pushing government health care, a 1993 Clinton policy failure that wasn’t on the top of anyone’s issue list. The proposal contains every policy mistake Washington has ever made, including higher taxes, price controls, “unspecified” future Medicare cuts, fines, employer mandates, and a higher deficit — and it doesn’t even provide coverage for everyone.
Conservatives may be unhappy with the president’s policies, but they aren’t disappointed because they expected so little from Obama and never bought into his promises of post-partisanship. The moderates and independents that did believe are starting to realize that this recession has gone on far longer than it needed to and to understand just how badly they were betrayed.
We don’t know why President Obama got stuck on health care — maybe getting advice from economic and political advisors who idolize Marx, Mao, and Chavez [21] is a bad idea. If he can get unstuck, there are two other domestic issues that, if handled well, would not only help the economy but reboot his failing presidency....
http://pajamasmedia.com/blog/dow-10000-and-our-lowered-expectations/
gajillions of links:
Our Lowered Economic Expectations
Posted By Tristan Yates On October 27, 2009 @ 12:40 am In . Column2 02, . Positioning, Money, Politics, US News | 26 Comments
The Dow Jones Industrial Average recently reached 10,000 again, rising 50% since March and reclaiming a major market milestone. September job losses were also less than expected, keeping unemployment under 10%. Moody’s [1], Google [2], and even the New York Times [3] say the recession is over.
That means mission accomplished, right? Surely President Obama deserves the Nobel Prize in economics too, or at least a day off from the never-ending criticism spewing forth from far-right outfits like the Atlantic [4] and U.S. News and World Report [5].
Unfortunately, as usual, reality has to intrude on this president and his cheerleaders. In fact, the DJIA closed over 9,000 [6] on January 2. Then the president came into office, passed the so-called stimulus, and immediately attacked the finance, energy, tourism, health care, and automotive industries — and where did the Dow go? It went to 6,500 by March.
In the 1980s and 2000s, it became part of the narrative to criticize both Reagan and Bush for the slow job growth (exaggerated into the “jobless recovery”) and an unequal distribution of wealth that helped those on Wall Street at the expense of Main Street. Reaganomics [7] was a dirty word among liberals, even as Ronald Reagan’s policies were pulling the country out of Democratic malaise [8] and stagflation.
Now we have Obamanomics, which has no jobs and no recovery. In May, unemployment [9] among adult workers with a high school education was 10.0%. In September, it hit 10.8%. For African-Americans it is up from 14.9% to 15.4%. For Hispanics it is stuck at 12.7%. Nearly one million homes went into foreclosure [10] in Q3, an all-time record....
...Let’s turn the calendar back to January and travel to an America that might have been. President-elect Obama asks his best economic advisors what it will take to get our economy moving again. Then he keeps his campaign promise [15] and listens.
First, he tells Congress that he will veto any tax increase on anyone anywhere, as a recession is the wrong time to raise taxes. From now on the Bush tax cuts [16] are the American tax cuts and he stands behind them.
Next, he brings in T. Boone Pickens and the rest of the American energy industry and says in his best Texas accent, git-R-done [17]. Offshore drilling, nuclear power plants, natural gas pipelines, whatever it takes. Cut oil imports and the trade deficit in half in five years.
Third, he signs mortgage relief into law. No, not that failed program that turned CNBC’s bond market analyst [18] Rick Santelli into a million-hit YouTube star. Instead the administration slashes mortgage rates for responsible owners and purchasers — those individuals with good credit and home equity. For once we use the faith and credit of the USA to reward financial responsibility.
That transformative 2009 economic agenda would have jump-started the recovery, and by now the Dow would be at least 2,000 points higher and unemployment at least two points lower. And because it wouldn’t cost a dime, tax revenues would recover and the American dollar would be a symbol of strength and optimism rather than another looming disaster [19].
By focusing like a laser [20] on the economy in 2009, President Obama would have held the centrist ground he took during the campaign, triangulated an unpopular Congress, deflected most personal criticism, and ultimately taken full credit for the recovery. His approval rating would be in the 70s and his political capital limitless.
The road not taken. Where we are now is nowhere. Nine months have been spent pushing government health care, a 1993 Clinton policy failure that wasn’t on the top of anyone’s issue list. The proposal contains every policy mistake Washington has ever made, including higher taxes, price controls, “unspecified” future Medicare cuts, fines, employer mandates, and a higher deficit — and it doesn’t even provide coverage for everyone.
Conservatives may be unhappy with the president’s policies, but they aren’t disappointed because they expected so little from Obama and never bought into his promises of post-partisanship. The moderates and independents that did believe are starting to realize that this recession has gone on far longer than it needed to and to understand just how badly they were betrayed.
We don’t know why President Obama got stuck on health care — maybe getting advice from economic and political advisors who idolize Marx, Mao, and Chavez [21] is a bad idea. If he can get unstuck, there are two other domestic issues that, if handled well, would not only help the economy but reboot his failing presidency....