Post by jgaffney on Aug 9, 2011 18:40:56 GMT -5
This is from the NY Post
An hour late and many trillions of dollars short, President Obama took to the podium yet again yesterday to explain that none of this mess is his fault.
It’s not about leading the nation, you see, let alone addressing its problems -- it’s about Campaign 2012.
So he thumbed his nose at Standard and Poor’s -- the independent agency that on Friday downgraded America’s credit rating and yesterday whacked both Fannie Mae and Freddie Mac, two of the chief villains behind the housing collapse.
For good measure, he even blamed the earthquake in Japan for the parlous condition of Uncle Sam’s finances.
And he doubled down on his poll-tested demands for higher taxes on the wealthy and yet more extended unemployment benefits.
So much for any hope that Obama would give us something besides his class-warfare, redistributionist ways -- which have brought us soaring debt, high unemployment, a falling dollar and the humiliation of S&P’s downgrade of the nation’s credit.
Even as President Downgrade spoke, the stock market continued to crater, losing more than 600 points and signaling a continuing vote of no confidence in the administration’s economic policies.
But, then, where would he get a new approach? He’s been abandoned by every one of his main economic advisers except hapless Treasury Secretary/punching bag Timothy Geithner. So don’t go looking for him to make good anytime soon on his airy promise to have some concrete “ideas” for the special congressional debt-reduction committee.
Instead, he persists in continuing to advocate the same ruinous policies.
Lemme see....Social Security is projected to run out of cash in 2017, and out of money completely in 2037. So, what does Obama do? He reduces the amount of money that Social Security collects from paychecks! Why didn't I think of that?
BTW, what employer is going to hire a new employee just because the employer can save 2% on the payroll taxes? Obama signed this into law earlier, and look how well it has been working!
An hour late and many trillions of dollars short, President Obama took to the podium yet again yesterday to explain that none of this mess is his fault.
It’s not about leading the nation, you see, let alone addressing its problems -- it’s about Campaign 2012.
So he thumbed his nose at Standard and Poor’s -- the independent agency that on Friday downgraded America’s credit rating and yesterday whacked both Fannie Mae and Freddie Mac, two of the chief villains behind the housing collapse.
For good measure, he even blamed the earthquake in Japan for the parlous condition of Uncle Sam’s finances.
And he doubled down on his poll-tested demands for higher taxes on the wealthy and yet more extended unemployment benefits.
So much for any hope that Obama would give us something besides his class-warfare, redistributionist ways -- which have brought us soaring debt, high unemployment, a falling dollar and the humiliation of S&P’s downgrade of the nation’s credit.
Even as President Downgrade spoke, the stock market continued to crater, losing more than 600 points and signaling a continuing vote of no confidence in the administration’s economic policies.
But, then, where would he get a new approach? He’s been abandoned by every one of his main economic advisers except hapless Treasury Secretary/punching bag Timothy Geithner. So don’t go looking for him to make good anytime soon on his airy promise to have some concrete “ideas” for the special congressional debt-reduction committee.
Instead, he persists in continuing to advocate the same ruinous policies.
Lemme see....Social Security is projected to run out of cash in 2017, and out of money completely in 2037. So, what does Obama do? He reduces the amount of money that Social Security collects from paychecks! Why didn't I think of that?
BTW, what employer is going to hire a new employee just because the employer can save 2% on the payroll taxes? Obama signed this into law earlier, and look how well it has been working!