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Posts Tagged ‘Debt Crisis’

Obama’s child like attitude

by Phantom Ace ( 115 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Election 2008, Elections 2012, George W. Bush, Republican Party, Socialism, unemployment at July 26th, 2011 - 11:30 am

Watching President Barack Hussein Obama’s speech last night I was struck by an impression. Not only is Obama a 3rd World style demagogue, he’s also very childish. He kept claiming how he was a victim and that Bush was to blame. As everyone knows, I was no fan of Bush nor do I give him a pass on the economic mess we are in, as others do. However, Obama has been in charge 2 1/2 years and has made things worse. An adult would try to fix the issues, a child blames others for his mess. Clearly Obama has the mind of a child and lives in a fantasy world.

President Obama’s decision to give a speech tonight was proof that things have not gone well for him. He threw (another) tantrum in the Friday news conference, he turned down a bipartisan deal presented to him Sunday and thereby took himself out of the limelight. Tonight’s speech was not intended to “solve” the impasse but to make sure Obama would get credit if a deal is struck and avoid blame if it is not.

The speech itself was part panic attack, part platitudes and a whole lot of class warfare (corporate jets! hedge fund managers!). He stood awkwardly at the East Room podium, minus any press corps. He began with a ponderous recap of the budget train wreck, and then described his grand bargain (light on the details, because, of course, he never put a concrete plan out there). He ridiculed the Republican plan, saying it didn’t ask for sacrifices from the rich. But wait, Majority Leader Sen. Harry Reid (D-Nev.) doesn’t have taxes in his plan. In fact, his whole plan was an indictment of Reid’s no-tax plan. Apparently, he assumed no one was keeping up with current developments.

[…]

It was a speech entirely divorced from reality. The Senate Democrats can’t pass tax hikes. The grand bargain can’t get through the Congress with jumbo tax hikes. It is hewho rejected a deal that had the agreeement of House and Senate leaders. You have to wonder why he set the bar so high. He’ll face the flood of “President Capitulates!” headlines when it doesn’t come about. But the answer lies in the sole and consuming passion of this White House: reelection. Hence, the class warfare and the excuse-mongering.

Read the rest: Two speeches, two visions

Barack Obama throws temper tantrums just like a child. He grew up sheltered and never experience hardship in his life. Rush said it best, he’s a man child. This is why Obama blames others, he’s not an adult.

Essential VDH: Our Ten Trillion Dollar Man

by Iron Fist ( 237 Comments › )
Filed under Barack Obama, Elections, Elections 2012, Politics at July 25th, 2011 - 2:00 pm

As the magnitude of the failure of the Obama Administration becomes obvious to even his staunchest supporters, VDH dissects our big-spending President and finds him to be every tropism of the Hard Left rolled into one. But he is not much of a bargin at this price. We haven’t bought much for our staggering deficits:

Obama has managed the nearly impossible: the greatest peacetime deficits in U.S. history — about $1.5 trillion per year — in his first three years achieved almost no economic expansion. Instead, unemployment is chronic and stays over 9.2%; growth is stagnant; gas is sky-high — and the president seems stunned that none of what he had promised came to pass. All his liberal nostrums have been tried and been found wanting. There is no successful EU model, no winning blue-state statist paradigm for guidance.

The economy should be booming. That is what Keyensians have assured us of for decades (Obama the Keyensian! Raaaaacist! 8O) Instead we have (hopefully) seen the utter discrediting of Keyensianism. It is worse than doing nothing, because now we have added 50% to out national debt, and that millstone will be around the neck of the economy for the next 100 years. Had we simply done nothing, it is possible the economy could have recovered by now.

Carter 2.0
With a subheading like that, who can resist another round of “That ’70s Show”?

Abroad the misdirection, confusion, and petulance mirror-image the debt mess. In Libya we have no mission aim, no methodology, and no desired outcome — our consolation only that Libya is a tiny country compared to a nearly 30-million person Afghanistan or Iraq. Obama went to the Arab League and the UN, but not the U.S. Congress for authorization — but to do what? Help the rebels? Enforce a no-fly-zone? Kill Gaddafi? Overthrow the government? All, some, or none?

Our disasterous policy in Libya is simply an example of out disasterous policy everywhere. We can’t back Israel for anything, and we can’t seem to decide who we really want to win in Libya. Hanson has a theory on that:

The only reason I can think why we bombed Gaddafi, and then allowed him to survive, is that we ourselves are terrified of the possible end-game and aftermath, given that we have little idea of who the rebels are, and even less whether they would be better, the same, or worse than the horrific status quo.

Much like we had to pass ObamaCare to find out what was in it, we have to overthrow Kadaffy to find out what the rebels we are supporting actually are. So we half-way support them, as though we wanted them to fail. That our goal is the kind of bloody stalemate that is worse than mere war, worse even than losing a war.

Obama is the final expiation of all of America’s “sins”, the true Messiah of the Left:

Obama, you see, is our nemesis. He is a totem, the logical manifestation of a warped media, the reification of some crazy — and arrogant — ideas about redistributive politics, the statist economy, and cultural and social life that permeated American life the last forty years. He is the president with a 1,000 faces that we have all seen at work, on TV, throughout American life, and at some point the odds determined that we had to have a rendezvous with him— perhaps a catharsis to teach us the wages of Keynesian debt, of a social policy contrary to human nature with its equality of result doctrines, of an all-powerful, all-growing unaccountable government, of the now hip ambiguity about past American protocols and history. Obama is the exaggeration of all the dubious ideas that arose since the 1960s — brought to fruition on his watch, delivered by mellifluous cadences by an untouchable persona.

An utter disaster, without hope of mitigation. That is what we are left with for the Obama Administration. We still have more than a year of it to go, and Obama still will be a formidible candidate going into next year’s election. It is possible that he’ll exceed Carter, and win re-election. If that happens, the country will have chosen national suicide over substance. No one can deny the utter failure o f the Obama Administration. To elect four more years of failure would be madness.

Herman Cain on the Economy and More

by 1389AD Comments Off on Herman Cain on the Economy and More
Filed under Barack Obama, Economy, Elections 2012, George W. Bush, Headlines at July 23rd, 2011 - 6:14 pm

Dick Morris TV Lunch ALERT! Herman Cain on the Economy

Herman Cain’s classic line “I LEFT THAT DEMOCRAT PLANTATION” – Watch Out Wannabe Master Obama!!

Herman Cain on Crazy, Nutjob, Racist, Babbling Idiot TX Rep. SHEILA JACKSON LEE playing RACE CARD!

Gang of 6 plan is really 3 Trillion in new taxes!

by Phantom Ace ( 3 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Headlines, Progressives, Republican Party at July 21st, 2011 - 1:35 pm

When the gang of 6’s plan was revealed, I was in a wait and see mode. Well that’s over now. Clearly this plan is nothing more than a stealth tax increase. Originally it was stated that 1 Trillion in new revenue would be raised by closing loopholes, not raising rates. Well it turns out, the plan really raises taxes by 3 Trillion!

According to the outline, the $1.5 trillion in “tax relief” is how the Congressional Budget Office would score the plan.

But what the gang conveniently leaves out is that the CBO’s forecast has $4.6 trillion in tax hikes already baked into it. That’s because the CBO baseline assumes all the Bush tax cuts get repealed, that every other temporary tax cut is left to expire, and that the alternative minimum tax continues to entrap millions more middle-class families each year.

Once you take that into account, the $1.5 trillion in “tax relief” turns instead into a $3.1 trillion tax increase over the next decade. (It’s anyone’s guess where the gang got its $1 trillion tax hike figure.)

Like all bipartisan plans, it’s really a way for the Progressives to get the GOP to surrender. This plan is useless and will not reduce the debt or deficits. Does anyone really believe that even having an additional 3 Trillion in revenue will reduce anything? They will piss that money away. This gang of 6 plan is a scam.