By Floyd and Mary Beth Brown,Expose Obama
Obama’s Economic Recipe is Disastrous
Barack Obama is demonstrating just how little he understands basic economics. He believes growing the government at a rapid rate is what causes prosperity,declaring America must "spend our way out of this recession."He also in recent weeks scolded "fat cat bankers,"telling them they need to loan more money out to get our economy going again. Obama’s economic illiteracy is plunging our country into economic ruin.
From bailouts,to company takeovers,health-care reform and stimulus bills:If it involves greater taxpayer involvement,Obama supports it.
When Obama reported that the Treasury had received back $200 billion in TARP funds,he declared that he planned to spend that money on a second stimulus while paying down the debt. This is patently untrue.
America will not be paying down any debt. The Senate is moving to raise the debt ceiling by over $1.8 trillion. Actually,we will be borrowing a record sum,as Obama mortgages our future to "spend us out of this recession."
The problem with his policy is that it doesn’t work. Government spending has never created prosperity. Every dollar the government spends must be taken from someone else. Government engages in wealth transfer not wealth creation. Borrowing money and running sizable deficits is transferring wealth from the future generation,which faces paying off Obama’s credit card. The bill must be paid someday. Obama is robbing future generations in order to support his binge spending.
Obama’s first stimulus was nothing more than a slush fund of money used by Democrats to support their liberal pet projects. Six million dollars’worth of stimulus money lined the pockets of Democratic pollster Mark Penn who used it to create three jobs;$18 million from the stimulus went to fund Obama’s recovery website,which reported on jobs saved and stimulus money spent in congressional districts that do not exist. With that kind of success rate it should surprise no one that Obama’s approval rating has plummeted to 45 percent. American voters understand government spending is not the recipe for recovery.
Recently,Obama met with leading bankers,individuals he referred to as "fat cats."In his meeting,Obama pushed these banks to lend more and loosen up their capital requirements on loans. Nobody is arguing that these banks need or deserve the outrageous bonuses they have been pocketing after Obama bailed them out with the taxpayers’dime,but the idea that they need to lend more is nearly ludicrous.
The reason the housing market collapsed in the first place was because Congress pushed Fannie Mae and Freddie Mac to loan nearly half of their assets to families with incomes below the national median.
Coupled with the Community Reinvestment Act,which forced banks to make imprudent loans,overzealous lending created an artificial housing bubble that collapsed. After the CRA was expanded in 1995,bank loans going to low- and moderate-income families increased by 80 percent. These were the same banks that were later attacked for being predatory for taking undue risks. They were making poor loans,but it was at the behest of a federal government that was trying to artificially increase home ownership amongst people not equipped for the responsibilities of home ownership.
Fast forward back to today. Obama is now encouraging banks to make more loans,asking banks to take more risk. This is the same Obama who has criticized banks for making risky loans in the past. By creating business-climate uncertainty Obama is not helping our country to stabilize. Obama’s conflicting messages are confusing. Which "Obama"are banks suppose to listen to – the one who demonizes risky behavior,or the one who demonizes banks for sitting on their assets?
Obama’s meeting with bank leaders was simply political theatre as was his recent "jobs"summit. Jobs aren’t created by bureaucrats sitting around talking. They are created when people are free to innovate and create without undue fear of erratic government behavior. If the government would cut back on its wild spending,cut taxes and promote a stable regulatory environment,the private sector would start creating new jobs.
WHAT DO YOU WANT FROM A GUY WHO THINKS THERE ARE 57 STATES?
AND THEY THOUGHT DAN QUAYLE WAS DUMB WHEN HE MISSPELLED POTATO!
OBAMA = LAUGHING STOCK
This fellow is an affirmative action nightmare….show us the grades and birth certificate…He was pushed thru Law School…He has been babied and had his poo poo kissed since his birthing in Kenya…You should all learn that you can never get out of them what "GOD"did not put in them…His Mate the one that does shame to a lowland gorilla is of the same ilk….Like 2 B'B's in a rain barrel….Just a dumb anys "SVUGGIE"…
REPEAT,REPEAT!
IMPEACH OBAMA
http://www.impeachobamacampaign.com/
To create jobs our ignorant president is suing Intel. Huh? What an idiot! Luckily most Americans are beginning to understand this. Intel —has been responsible,along with Microsoft (sued by the last Democratic president),through standardization of personal computer "guts"for disseminating more knowledge throughout the world than has ever been accomplished in the history of the world. Helping millions of humans rise out of ignorance and poverty while advancing computing power and slashing costs through fierce competitiveness…SUED FOR SUCCESS. Hopefully America will emasculate this worst,most harmful,inexperienced and ignorant president in U. S. History in the elections of 2010. Fire the corrupt Congressmen!
http://www.periodictablet.com
i believe you underestimate obama. He knows what he is doing. he has been
coached by SOROS,and all his left thinking supporters on how to "make the U.S. into a socialist third world country. He is following all the steps necessary to acomplish this goal. If he is not stopped,he will accomplish it.
A world without a strong U.S. is a terrible world to think of. without U.S. support,europe will fall back to the middle ages,ruled by MUSLIMS who
are uneducated and know only how to destroy,not how to create anything.
We are underestimating him,he does not want to build the U.S. up,
he wantd to redistribute the money from those who can to those who cannot.
WAKE UP AMERICA,YOU HAVE A DESTRUCTIVE DEVIL IN THE WHITE HOUSE.
obama and bernanke are working together to make dollar fail if they can the government will be out of debt and they will control the new currency wake up you evil people who put this boy in office
Please go to youtube and Look under Fema concentration camps and you will find about the marshall law that obama is going to declare after the health care bill is signed that is why they are in such a hurry There will not be a election if he declares marshall Law only cival war I just do not think the GOOD American people are going to stand for that
By now it should be clear that people voted for someone who is not at all presidential matrial.
Google Mount Weather which is right outside of Winchester VA…Run by FEMA…That is where the Congress,Senate and their families along with the administration are going when civil unrest truely occurs…5 to 15 stories underground all self sustaining including a crematorium….Please Google and read…Amazing how long this government has been updating and preparing this site….
Obama is not dumb or financially illiterate. He knows exactly what he is doing as do Reid and Pelosy. They are spending our country into oblivian. I'm concerned that we will end up as a Marxist state with a dictator by the name of Obama!
That won't happen,Americans will stand for none of those shananigan's. There will not be such a peaceful revolution!
Obama reminds me of the story about 2 hippies walking down the street and one steps off the curb and is instantly struck by a car. The one hit,on the ground all bloody and injured,looks up at the other and says man call me an ambulance. The standing uninjured hippie looks down and says man you are an ambulance. sounds about like Saul Alinsky,Bill Ayres,Reverend Wright,George Soros and the rest of the perverts,Homos and pond scum saying you are President..