The View From 1776

Obama’s Model For Economic Failure

The president is assiduously repeating Franklin Roosevelt’s anti-business, anti-recovery policies.

Posted by .(JavaScript must be enabled to view this email address) on 07/15 at 12:06 AM
  1. Au contrair, mon frere!

    The economy is actually recovering, albeit slowly, in spite of your continued protestations to the contrary:

    The Stimulus worked and saved the nation's bacon, unemployment is down again this month, the market is up, and inflation is no where to be seen! In fact, the rising concern is the reverse, deflation!

    We are. of course, not out of the woods yet. But we can thank our lucky stars that we don't have John McCain and Sarah Palin behind the wheel.

    The wild and irresponsible Republicans drove the economic car into the ditch, and just when we have the tow truck pulling it out, they are asking for the car keys again! Whew!
    Posted by .(JavaScript must be enabled to view this email address)  on  07/15  at  01:32 PM
  2. If you call this a recovery - more than 17% unemployment among those still seeking jobs and those who have given up seeking a job- you have a strange sense of reality.

    Even the Keynesian Fed has cut back its expectations and acknowledges that the economy is on a very slow boat to nowhere.

    Our present economic stagnation mimics that caused by FDR's wild anti-business, high tax, and strangling regulatory thrusts in the 1930s. Three recessions handled in a very different way - under JFK, Reagan, and George W. Bush - resulted in real economic recoveries.
    Posted by .(JavaScript must be enabled to view this email address)  on  07/15  at  10:00 PM
  3. Yes, I do indeed call this a recovery because, by definition, a recovery is when the trends are in the positive direction.

    The patient is recovering when his fever is dropping, when his bones are mending, and when his wounds are healing. He may not be out playing tennis yet, but he is most definitely, "in recovery."

    I find it extremely curious that you would cite GW Bush as somebody who "handled a recession," since he is the undisputed author and progenitor of our present enormous difficulties. So grievous was the damage inflicted by this man that even with Godspeed and good fortune, we will be fortunate to get the economy back on an even keel by 2016
    Posted by .(JavaScript must be enabled to view this email address)  on  07/16  at  10:12 AM
  4. No, a recovery is not just when the trends are in the positive direction unless they can be sustained and these can't. As you probably know, we haven't had a recovery from a recession for decades because each time the spending to end the recession was pulled back, the nation found it had sowed the seeds for the next recession. Too many jobs were created with government spending for the
    "recovery" to be sustained.

    What we had were economic improvements as this chart on the diminishing returns on debt shows.

    As the international think tank that developed this chart states in its introduction

    which creates US public debt which is now counter-productive: a borrowed Dollar now causes a loss of 40 cents (see chart below).

    As you know, our government accountants say there is no way of avoiding the loss of our standard of living and domestic tranquility, by using the policies we are using. The CBO also warns of this and the potential collapse of the dollar if we try to create inflation to help with managing debt with devalued dollars.

    We have over $120 trillion in debt and obligations and there is no way to pay for them even if we taxed every citizen 100% or had double digit growth for decades. As the President's own "Debt Commission" states.

    "We can't grow our way out of this," Bowles said. "We could have decades of double-digit growth and not grow our way out of this enormous debt problem. We can't tax our way out. . . . The reality is we've got to do exactly what you all do every day as governors. We've got to cut spending or increase revenues or do some combination of that."

    You have to increase tax revenues and you won't do that through tax rate increases but through tax reform. Get rid of almost all taxes and combine them in a simple tax and tax code that doesn't cost 400% (slightly under 400% in the average of $1 billion or smaller business which is the majority of business and who hire about 85% or more of the employees in this nation) more than the tax sent in as is currently the case.

    This inability to have a recovery now or in the past is due to decades of bad policies. We now face another leg down in our economy either now or in the coming months or year due to the need to cut spending this unsustainable economic improvement depends on.

    Our own government says it is unsustainable, international think tanks say it is unsustainable, the President's own 2011 budget projections show it is unsustainable and economists around the world say it is unsustainable.

    It is not this President's, or the last one's or the previous one's fault. This goes back decades to the unsound fiscal policies that were based on flawed economic and monetary principles put forth by the Banking organizations, like the CFR that advises both parties on economic and monetary policy. No President or Congress of either party can stop us from having a depression but, they can delay it for awhile and make it worse.
    Posted by JanPBurr  on  07/21  at  11:50 AM
  5. "The Federal Reserve (Banks) are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers."
    -- Louis McFadden
    (1876-1936) US Congressman (R-PA) (1915-1935), Chairman of House Banking and Currency Committee. Poisoned in 1936.
    Source: Speech in Congress, June 10, 1932

    They advise Congress and the President and thus, things get worse each decade.
    Posted by JanPBurr  on  07/21  at  11:54 AM
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