The Obama Boom.

[dude1394]

Mavie...Obama has been a disaster already. He floats out a stimulus package that's a democratic dream spending plan..with almost nothing immediate about it.

He intends to sign a CR that is 8% higher than last years and contains 8K earmarks.

He's trying to slam ever democrat wish list onto the american economy while our economy is sinking like a stone...all the while talking about it like it's armaggedon...then blithely telling folks that it's time to buy stocks today...tra la la.

He's going to imposed taxes on every single one of us with cap and trade for a fantasy...

He's a disaster...The reason these blogs are ripping him to shreds is that's he tra la la ing while real peoples 401K's and pension plans are going kaput.

But don't bother me now..I have a 685trillion dollar healthcare bill to get passed (don't know what the hell's in it, but gotta pass it).

Even his own party is staring to freak out at the way this guys is spending money left and right and seemingly clueless about how to fix it or really that it's all that worrisome really.

[Mavdog]

Originally Posted by dude1394

Mavie...Obama has been a disaster already. He floats out a stimulus package that's a democratic dream spending plan..with almost nothing immediate about it.

He intends to sign a CR that is 8% higher than last years and contains 8K earmarks.

He's trying to slam ever democrat wish list onto the american economy while our economy is sinking like a stone...all the while talking about it like it's armaggedon...then blithely telling folks that it's time to buy stocks today...tra la la.

He's going to imposed taxes on every single one of us with cap and trade for a fantasy...

He's a disaster...The reason these blogs are ripping him to shreds is that's he tra la la ing while real peoples 401K's and pension plans are going kaput.

But don't bother me now..I have a 685trillion dollar healthcare bill to get passed (don't know what the hell's in it, but gotta pass it).

Even his own party is staring to freak out at the way this guys is spending money left and right and seemingly clueless about how to fix it or really that it's all that worrisome really.

no, the "disaster" was the last administration, not the current one.

obama cannot refuse to sign the bill at this point in time, if you want to vent anger direct it towards congress for sending it to him.

why criticize obama for saying that the stock market has overreacted, and that stocks present a value? seems to be a good use of the bloody pulpit to me.

the cap and trade system will only cause costs to increase on those industries who spew into our environment, those who do not modernize. and those who do reduce, those who do modernize, will benefit. do you want to breathe higher levels of ozone, or have your environment negatively affected? I don't.

how can you attack a healthcare bill that's yet to be written? obama has invited all sides to the table for input....and yet you've already decided the bill is wrong. talk about premeditated...

everybody is "freaked out" because the uncertainty of where our economy is heading. to blame that on obama, rather than those who formented the sickness, is ill conceived.

[dude1394]

Bush the boogey man lasted about 2 months ago. This one's all on theOne. It's his stimulus(sss) packages...it's his budget and his plans to permanently throttle this economy all the while talking out both sides of his mouth. He's a disaster in only a month.

And THAT is what has everyone "freaked out".
Folks are voting with what they have...their wallet...
http://www.nationaljournal.com/njmag...90307_2566.php

Having praised President Obama's job performance in two recent columns, it is with regret that I now worry that he may be deepening what looks more and more like a depression and may engineer so much spending, debt, and government control of the economy as to leave most Americans permanently less prosperous and less free.

Other Obama-admiring centrists have expressed similar concerns. Like them, I would like to be proved wrong. After all, if this president fails, who will revive our economy? And when? And what kind of America will our children inherit?

The house is burning down. It's no time to be watering the grass.

But with the nation already plunging deep into probably necessary debt to rescue the crippled financial system and stimulate the economy, Obama's proposals for many hundreds of billions in additional spending on universal health care, universal postsecondary education, a massive overhaul of the energy economy, and other liberal programs seem grandiose and unaffordable.

With little in the way of offsetting savings likely to materialize, the Obama agenda would probably generate trillion-dollar deficits with no end in sight, or send middle-class taxes soaring to record levels, or both.

All this from a man who told the nation last week that he doesn't "believe in bigger government" and who promised tax cuts for 95 percent of Americans.

The president's suggestions that all the necessary tax increases can be squeezed out of the richest 2 percent are deceptive and likely to stir class resentment. And his apparent cave-ins to liberal interest groups may change the country for the worse.

Such concerns may help explain why the Dow Jones industrial average plunged 17 percent from the morning of Inauguration Day (8,280) to its close on March 4 (6,876). The markets have also been deeply shaken by Obama's alarming failure to come up with a clear plan for fixing the crippled financial system -- which has loomed since his election four months ago as by far his most urgent challenge -- or for working with foreign leaders to arrest the meltdown of the world economy.

The house is burning down. It's no time to be watering the grass.

This is not to deny that the liberal wish list in Obama's staggering $3.6 trillion budget would be wonderful if we had limitless resources. But in the real world, it could put vast areas of the economy under permanent government mismanagement, kill millions of jobs, drive investors and employers overseas, and bankrupt the nation....
...................
And I hope that the president ponders well Margaret Thatcher's wise warning against some collectivist conceits, in a 1980 speech quoted by Wehner: "The illusion that government can be a universal provider, and yet society still stay free and prosperous.... The illusion that every loss can be covered by a subsidy. The illusion that we can break the link between reward and effort, and still get the reward."

[dude1394]

The market is reacting to this kind of stuff. The shear mendacity of his statements.

http://www.realclearpolitics.com/pri...ky_budget.html

The logic of Obama's address to Congress went like this:

"Our economy did not fall into decline overnight," he averred. Indeed, it all began before the housing crisis. What did we do wrong? We are paying for past sins in three principal areas: energy, health care, and education -- importing too much oil and not finding new sources of energy (as in the Arctic National Wildlife Refuge and the Outer Continental Shelf?), not reforming health care, and tolerating too many bad schools.

The "day of reckoning" has now arrived. And because "it is only by understanding how we arrived at this moment that we'll be able to lift ourselves out of this predicament," Obama has come to redeem us with his far-seeing program of universal, heavily nationalized health care; a cap-and-trade tax on energy; and a major federalization of education with universal access to college as the goal.

Amazing. As an explanation of our current economic difficulties, this is total fantasy. As a cure for rapidly growing joblessness, a massive destruction of wealth, a deepening worldwide recession, this is perhaps the greatest non sequitur ever foisted upon the American people.

At the very center of our economic near-depression is a credit bubble, a housing collapse and a systemic failure of the entire banking system. One can come up with a host of causes: Fannie Mae and Freddie Mac pushed by Washington (and greed) into improvident loans, corrupted bond-ratings agencies, insufficient regulation of new and exotic debt instruments, the easy money policy of Alan Greenspan's Fed, irresponsible bankers pushing (and then unloading in packaged loan instruments) highly dubious mortgages, greedy house-flippers, deceitful homebuyers.

The list is long. But the list of causes of the collapse of the financial system does not include the absence of universal health care, let alone of computerized medical records. Nor the absence of an industry-killing cap-and-trade carbon levy. Nor the lack of college graduates. Indeed, one could perversely make the case that, if anything, the proliferation of overeducated, Gucci-wearing, smart-ass MBAs inventing ever more sophisticated and opaque mathematical models and debt instruments helped get us into this credit catastrophe in the first place.

And yet with our financial house on fire, Obama makes clear both in his speech and his budget that the essence of his presidency will be the transformation of health care, education and energy. Four months after winning the election, six weeks after his swearing in, Obama has yet to unveil a plan to deal with the banking crisis.

What's going on? "You never want a serious crisis to go to waste," said Chief of Staff Rahm Emanuel. "This crisis provides the opportunity for us to do things that you could not do before."

[dude1394]

Even krugman see's that theOne's not addressing what needs to be done here. Sure he loves all of the new guvment programs..but even he knows that theOne is doing nothing to solve the real problems here.....just using this crisis to push his political agenda.

http://www.nytimes.com/2009/03/06/op...gman.html?_r=2

Last month, in his big speech to Congress, President Obama argued for bold steps to fix America’s dysfunctional banks. “While the cost of action will be great,” he declared, “I can assure you that the cost of inaction will be far greater, for it could result in an economy that sputters along for not months or years, but perhaps a decade.”

Many analysts agree. But among people I talk to there’s a growing sense of frustration, even panic, over Mr. Obama’s failure to match his words with deeds. The reality is that when it comes to dealing with the banks, the Obama administration is dithering. Policy is stuck in a holding pattern.