The Trainwreck that is Obamanomics

The Economy is off the rails

American capitalism is the engine room of the global economy. Sadly, the guy in the engine room doesn’t know how the machine works. All he knows is how to toot his own horn. This is the real difficulty of the next four years if President Obama wins another term.

What should worry you is that Romney and Ryan are making little headway in the polls. Obama has the advantage of being the incumbent. George W. Bush had the same advantage, and in spite of negative perceptions abroad and demonization in the media at home, he still won in 2004. Obama has a lot less against him.

Romney needs to focus on the economic issues, not get himself embroiled and lost in skirmishes on foreign policy issues. He needs to do two things. First, he needs to clearly spell out the trajectory four more years of Obamanomics will take us through.

Spell it out:

Step by step.

Failure by failure.

Cent by cent.

The Fraser Institute in Vancouver points out that Canada is more economically free than America. Where is America? Between Qatar and Kuwait. If that is not a warning bell then I don’t know what it is.

Obama sold himself on the economic issues in 2008, which made the economy even worse. Investors and businesses took even more drastic decisions in response to the Obama gloom rhetoric. Having set up the premise that the global economy was in a more severe state than it actually was, he set himself up as savior. He promised he would come in on wings of angels, as Hilary herself told us, to save the world.

And it worked! As an election promise, as a selling point, it worked. As a presidency, it has failed miserably. He got four years and he’s blown it. The engine is going off the rails.

Does this look like a competent driver to you?

The debt piles up. The jobless are piling up. The government is bloated even more. People, as Romney rightly said, are increasingly dependent, and voting for Romney would feel to them like turkeys voting for Christmas.

If Obama stays in situ, then the engine will break down beyond repair. America cannot afford the load he is trying to pull, and nor can the global economy.

Romney and Ryan need to focus. If they can’t get this message home, and if they can’t inspire America to get this engine moving again, then they don’t deserve the job in the driving seat.

Fraser report can be found here: http://www.freetheworld.com/release.html

Everything is fine, time to put your feet up Mr President!

The private sector is doing fine apparently. This is at least according to President Barack Obama. I guess the 23 million Americans who are either unemployed, underemployed or have given up searching for work are suitably reassured. Not to worry, four more years! Yes folks, four more years out of work if this administration gets another victory in November.

Of course, President Obama later clarified things for reporters, and the rest of us stupid people, “the economy is not doing fine.” Then White House Press Secretary Jay Carney told reporters they should know better than to miss the broader point Obama was making. Oh what stupid people, why did they not realize the president intended that public sector job cuts are hurting the economy.

Carney crowed “You all ought to do your jobs and report on context…We’re for truthful, factual, accurate reporting done in context.” Oh, yeah, right.

Perhaps the president and Mr. Carney can explain why the Federal Reserve felt compelled to report the median net worth of families plummeted by 39 percent in the three years of the Obama Era of Salvation. Well, they didn’t say that exactly. They said the numbers, I added the editorial gloss. The figures speak for themselves though: a fall from $126,400 in 2007 to $77,300 in 2010. That puts Americans back where they were in 1992.

Even the president’s current day Rasputin, Paul Krugman, the mystical Nobel Prize-winning economist, admitted “That was an unfortunate line…The president bungled the line.” In a sentence more articulated than a truck driven by a Commerce Secretary, Krugman’s apologia for a president states “The truth is the private sector is doing better than the public sector, which is not well enough…The real story of this economy is that cutbacks at the public sector are what’s hurting the recovery.”

Mitt Romney’s take on this is “Last Friday, the unemployment rate rose to 8.2 percent and 300,000 more people joined the long-term unemployed. One week later, President Obama said the private sector is doing fine. Only a president that presides over forty months of unemployment over 8 percent would think that the last jobs report is “doing fine.” These comments show that President Obama is completely out of touch with the middle class.”

The Heritage Foundation notes “While the President’s comment is astoundingly out of touch with the public—and economic reality—perhaps even more distressing is that this wasn’t a passing verbal gaffe. This is actually a consistent talking point of the President and Democratic leadership that goes largely unchallenged by the media.” http://blog.heritage.org/2012/06/11/morning-bell-the-private-sector-is-not-doing-fine/

A famous Philosophy discussion on observation and knowledge of reality centers on the question, “If a tree falls in a forest and no one is around to hear it, does it make a sound?” I believe the same can be asked of the relationship between Obama’s errors and the liberal media…the noise is definitely made but they don’t seem to be around to hear it.

The only thing that will be fine is a change in the White House. Of course, Barack Obama will not be made unemployed, he has a new career trajectory to follow of more books, speaking tours and all the perks of being ex-president.

This election is about the economy, and we’re not the stupid ones.

Romney needs to call Obama’s Bluffet….

 

We know that the Bluffet, sorry Buffet, rule is a motif for President’s class warfare, and more warning shots will be fired when Congress returns today from a two-week recess to a test vote on the rule, which would impose a minimum 30 percent tax rate on income over $1 million. The Bluffett tax targets wealthier Americans’ investments rather than salaries.

Today is the day when this issue of class warfare kicks off for November in earnest, now that we know it will be Romney for the GOP and Congress gets to have a say on the matter.

President Obama, who pays less tax than HIS secretary (he filed tax returns showing he paid an effective tax rate of 20.5 percent on income of about $800,000 in 2011) says the government needs the revenue from the Bluffett rule, estimated at $47 billion over 10 years, to cover “a broad range of goals.” He also says “This is not just about fairness.” Well, he got that right, it is very unfair, but not in the simplistic moralistic way he is peddling.

He says “This is also about growth. It’s about being able to make the investments we need to strengthen our economy and create jobs. And it’s about whether we as a country are willing to pay for those investments.” In other words, robbing Peter to pay Paul.

Fact is, do we really need government to do the investing, and where does the investment go? Into government black holes and deep pockets, rather than into businesses which create wealth. The Bluffet tax would not create wealth, it would merely enhance dependency. We would see a better rate of return on the $47 billion in business investment by the wealthy than we would from government. That is an awful lot of liquidity to take out of the markets, and I don’t see too many secretaries taking up the slack.

Of course, keeper of the Treasury keys Tim Geithner was out pushing the rule on Sunday, “Just because Republicans oppose this does not mean it’s not the right thing to do and not the right thing to push for,” he told NBC’s “Meet the Press” program. Double negatives aside, we can say that just because Democrats think it is the right thing to do doesn’t mean it even begins to make sense.

If we look at the paying side of this, we see the rich targeted for this end up paying more. Simple. But for what are they paying? Increased revenue means increased expenditure, and so the things for government to spend on expands to meet the expanded revenue. More programs, more dependency and less reward for effort. What does the payer get in return? They get little benefit, and the wealthier they are the less they need what they are paying for.

Which means the sole purpose of the Bluffet rule is twofold, increased state powers and redistribution of wealth. Conservatives who attack Romney or the rich for their wealth are playing with the same deck as Obama.

Obama says, “If you make more than $1 million every year, you should pay at least the same percentage of your income in taxes as middle-class families do… Most Americans support this idea. We just need some Republican politicians to get on board with where the country is.” Of course, Obama doesn’t have to worry too much about his investments, because after leaving office, which cannot come soon enough, he will make a ton of cash for the remainder of his days. He doesn’t have too much to worry about…The rest of us do.

The Problem With Romney

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There are plenty of pundits explaining why Romney is the best candidate to go up against President Obama in November. The effort to find the candidate who has ‘the best chance of beating Obama’ has been the topic of countless editorials and discussion groups. Certainly defeating Obama is a critical goal, but victory in November will have more to do with the weakness of Obama due to his failed policies than anything the GOP puts on the table. When an incumbent is running for re-election it is almost always more of a referendum on that person than about the ideas of the challenger. That being the case, maybe the focus on who has ‘the best change of beating Obama’ is the wrong metric to be using in deciding our nominee.

I submit that the question we should be asking is, “Which candidate has the best chance of undoing Obama’s policies?” When looking at the election that way, Romney comes up short. That’s the real problem with Romney. We could look past his lack of a personality and stammering during almost every debate. We could even look past his flip-flops. But when we look past those things, what do we find? We find a manager. That’s not what the country needs.

Barack Obama has governed as one of the most radical and autocratic Presidents in our history. He has accomplished so much of his radical agenda in the past three years that it truly will take a radical and energetic effort in the opposite direction just to get the country back on an even keel, let alone making real progress. Romney isn’t a radical. He isn’t going to drive us back from Obamanism. He’s more likely to take ‘reasonable’ steps to slowly and thoughtfully back us away from the cliff only to have the next liberal who gets into the White House send us careening back over it.

The only way to undo a radical is either a long steady restoration or a radical restoration. Since Presidential terms are only 4 years long and there is no guarantee of a re-election victory, the slow and steady approach isn’t wise. We can’t afford to suffer under Obama’s policies for more than a year after he leaves office. We need a radical reversal of our nation’s course. We need what happened in Wisconsin and New Jersey where radical leftist nonsense was radically and swiftly thrown into the dumpster so real economic progress could be made.

Romney’s a nice guy and if the past four years had been Reagan’s second term, then Romney would be a great choice. All he’d have to do is be a manager and keep things running smoothly. But, the past four years weren’t Reagan’s second term; they were Obama’s radical experiment in disaster. We’re not running smoothly. We need more than a manager. We need a crusader who will drive to undo what Obama did with even more gusto than Obama used to do it himself.

We need to stop asking who could best defeat Obama and accept the fact that Obama will win or lose on his record. Assuming we do win the election because Obama is such a failure, which candidate will most effectively and quickly undo not just some of what Obama did, but ALL of what Obama did? The answer clearly isn’t Mitt Romney.

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Where America is economically 1,000 days into the Obama Administration

Today marks 1,000 days of President Obama’s administration and the race for the GOP nomination is in full flight with the American economy facing perhaps its biggest challenges since the great depression.

As U.S. Vice President Joe Biden recently told a Florida radio station, ”The U.S. election in November 2012 will be a “referendum” on the Obama administration’s handling of the economy.”

So what is the economic report card for the Obama Administration’s first 1,000 days.

  • Since President Obama took office, the National debt has increased by $4.3 trillion with America now borrowing $4.2 billion each day, to keep the country going. The total National Debt now stands at $14.9 trillion dollars.
  • 6.5 million jobs have been lost in the private sector and 290,00 in the Public sector, in last three years.
  • Four million bankruptcies have occurred during this period.
  • The unemployment rate has been above nine percent for 840 of the 1000 days, and the average unemployed worker has been without a job for more than 9 months.
  • 2.4 Million Homes have been foreclosed on.
  • Health Insurance premiums have increased by on average 13%.
  • 1 in 6 American’s are now officially classified as poor largely due to rising unemployment and 49.9 million American’s are uninsured, the biggest in more than two decades.

In fairness, the President has done some good work by extending the Bush era tax cuts and unemployment benefits. He also saved the automobile industry which regardless of your political view, is a hard fact to deny.

What we have seen from the Obama Administration though is bigger government, more regulations, and massive amounts of government spending in the hope of stimulating the economy. The trouble is that it simply hasn’t worked, as the numbers have shown. President Obama Promised that his $787 billion stimulus would save or create 3.3 million jobs by the end of 2010.  It simply hasn’t, in fact, his stimulus bill has caused nothing but problems with states now seeking more money to keep teachers and other public sector workers on the payroll, President Obama calling for an additional $35 billion funding bill today for the states. There has also been the wasted billions on green energy projects and the no so ready, shovel ready job projects.

The President has been touring the country over the last month, trying to sell his $447 billion jobs package or as most people call it, Stimulus II. It was defeated in the Senate last week on a bi-partisan basis. I actually don’t blame the president entirely for the state of the economy. I blame those academic advisors and special advisors he brought into his administration in the early days. They applied their theories without really having the practical experience of working in the economy ironically, a lot of the criticism’s which people are labelling against Herman Cain and Mitt Romney at present is based on their having real life experience. Where are President Obama economic experts 1,000 days down the road, they’ve abandoned the sinking ship.

The two big strategic mistakes President Obama did make in his first 1,000 days are as follows; firstly, he should’ve waited until his second term to pursue and implement his signature piece healthcare legislation “Obamacare”. The first mistake he made is what President Bush Snr (41) made, if you don’t look after the domestic economy, you can have all the success in the world on every other front however, people want jobs and want to know they are better off now, then they were four years ago. President Obama should’ve focussing on getting the economy right in his first term and leaving Obamacare until his second term.

The second mistake President Obama has made strategically in his first 1,000 days is not moving to the center and working with the Republican Congress after the mid-term election defeat. In 1994 when the Republicans won control of Congress under the Contract of America with Speaker Newt Gingrich, then President Bill Clinton knew in order to get re-elected, he had to work with the Republicans and move to the center. President Clinton did and worked effectively and in fact, gained the upper hand winning over independent voter by the time the next presidential election came around in 1996. It is Independent voters that decide the outcome of elections not the respective party faithful.

President Obama with all respect may be the only person who believes he has done a good job on the economy. Beyond that, he may be the only person who believes his current rhetoric and embracing of protests against entrepreneurs and successful and hardworking people, will get him re-elected next year and win over independent minded voters although I sincerely doubt it.

The eventual GOP nominee needs to emphasise the best of American traditions and empower the private sector, liberalise the markets and stimulate the education system to restore America’s economic engine. It will require strong leadership, collaboration and the involvement of expertise from both the public and private sectors until the economy is back in good health. It will require sacrifice in the short term and there will be no short term fixes.

Above all, it is clear that the rhetoric going into next years election is going to be based on class warfare and aimed at dividing people something President Obama promised he wouldn’t do. It is a very sad day when a president resorts to that tactic in order to win an election.

I would hope that any GOP nominee has the courage and conviction to refrain from engaging in such low level politics and be a president for all the people regardless of creed, colour or religion.

Trunkline 2012: Saturday Political News in Review and Cinema Politico Movie of the Week for 10/8/11


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Brought to you by White house 2012 & Hulu.com, The Good Pope is a poignant retelling of the story of Pope John XXIII.  He was Pope for only 4 years, seven months and six days when he died of stomach cancer on the 3rd June 1963.  His lived during a period of profound change, and a time which produced some of the most significant events of the 20th Century and once he became Pope, he also  produced some of the most significant events in the contemporary history of the Catholic Church.

Bob Hoskins stars as The Good Pope.

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Even the “Average Joe” Knows President Obama Can’t Win in the Obama Economy

Bookmark and Share  Vice President Joe Biden is probably one of the G.O.P.’s best friends.  He has a real propensity for always saying the right thing ………..for Republicans.  His latest statements to verify that came Thursday at the Washington Ideas Forum, an invitation only, two day forum for leading newsmakers at the Newseum in Washington, DC. The event is sponsored by The Atlantic and the Aspen Institute.

During an appearance at the forum, Biden stated that  the shaky economy has left many Americans in “real trouble“, and made clear that the Republican Party is strong enough to beat President Barack Obama in the 2012 election.  Note how he said “President Obama” and not “us“.  Joe may be dumb but he is not without an ego that would prohibit him from sharing the blame for the economy that he said will be responsible for the defeat.

According to Joe, a significant majority of the American people don’t believe the country is moving in the right direction. You think?  He adds that such a public perception is never a good place to be going into re-election (no kidding), regardless of whether it is the current administration’s fault or not.

Biden defended the Administration though when he suggested that the economy has still greatly improved under President Obama.  He states that he is  counting on voters recognizing how deep the recession was and how much the economy has improved under the Obama Administration.

To be fair, credit must be given when it is deserved.  Joe is right about the strength of the Republican Party going in to the 2012 presidential election.  However, honesty is not always welcome in politics, especially if you are a liberal trying to promote the benefits of unsustainable spending, increased taxation, and socialist policies.  For that reason, the Vice President is not likely to get a pat on the back and hear a sincere thank you from the President for his honesty.  Instead he might hear something more along the lines of “Way to go, Joe.  Thanks for the encouraging words”.

The episode does demonstrate one thing though.  It shows us that the Administration sees the writing on the wall.  So much so that even the “average Joe” can read it.  That means that the Obama re-election team is surely preparing a campaign based on desperate attempts to run an extremely negative campaign against the Republican ticket, regardless of whose names are on it.  If they understand that voters will have very little reason to support the Obama-Biden ticket for reelection, there only chance will be to make the opposition look worse.  That means that while the President will try to resort to discussing issues with little detail and great flowery, rhetoric, His surrogates and ad men will be attacking attacking the Republican ticket with verbal assaults that are based on personal matters, and far-fledged distortions of records.

This conclusion is only verified by Joe Biden.

His comments on the 2012 election at the Washington Ideas Forum offer us a glimpse of the Administration’s mindset.  They know that they can’t win on the one issue that is likely to dominate the election…… the economy.  Oh they will try to wage class warfare, they will incite the anger of their big union base and take advantage of the underprivileged.  They will even play the blame it on Bush card and try to morph the Republican presidential nominee into Bush.  But in the end, the American people understand that saying that sat upon President Truman’s desk and read, “The buck stops here”.   And the fact that no bucks are flowing in to the economy, will only make most voters more aware of who is responsible for that.
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