Obama talked. And we got just more of the same…

Well it’s what? Some 961 days since he took office, and now Obama finally has decided he needs to tackle jobs – or appear to be doing so is what I see this as being – because he is heading for an epic ass kicking in 2012, even if his opponent is Dracula himself. Obama and his groupies are warning the republicans to pass this bill, and pass it fast, or else. I admit that I didn’t bother watching the community organizer in chief’s speech last night, but I did go read up on what he said, and as far as I can tell, while the left and the LSM are all talking about a bill, it is obvious that we have no bill whatsoever, but just a plan. Is this more of that special “Hope & Change” magic?

What I do know is that the price for this non-existent bill climbed from the $300 billion in new stimulus that was touted at the beginning of the week to a staggering something closer to another half a trillion. Fox news puts this new Keynesian stimulus plan that democrats are trying real hard not to refer to as stimulus part deux at $450 billion, but since there is no real bill, and I suspect that’s the number the WH gave them, I certainly wont be surprised that if we ever do get a bill, the price tag ends up being far costlier. Seriously, we waited over 30 months for Obama’s people to produce this junk?

The plan, touted as a bill, supposedly is a mix of tax cuts, tax credits, infrastructure investments and other measures – heavy on the infrastructure investment and other measures, and tax cuts and credits that I bet again only target those private sector industries the left wants to be the winners instead of those that actually would produce jobs immediately, I bet – needs to be nailed down, but so far, there is very little I see that will do any real job creation. And from the response by others that are not desperate democrats, it is obvious they where not very impressed. The problem our economy is facing right now is directly tied to the insecurity that the private sector feels because of what has been done so far. That’s because of a combination of things. The first is the myriad of crazy and unpredictable collectivist regulations coming from those things that Team Obama focused on, while ignoring jobs I should add, during its first 2 years. That coupled with a palpable hostility towards the private sector from these elitist academics playing political games, leave practically all small business owners feeling that it is simply too dangerous to expand and hire on new people, when the cost to them is nebulous and likely to just go up every damned time these democrats do anything. And that’s why trillions of dollars of government spending later, with even more debt being made we have no honest, real, and enduring job creation.

And this plan they claim is a bill? Well it is more of the same failed recipes of the last 30 months. Seriously, at this point Obama might want to take a page from my job plan. Topless coffee shops might actually do more to grow the economy than this idiotic plan of his that smacks of nothing more than another attempt to have tax payers subsidize the campaign coffers of countless democrats for the coming 2012 elections. Some people are advocating that we should let them actually create a bill and the pass it, because it is a victory for those that want these people out of power when it fails – and have no doubt it will fail – but seriously, the price tag is freaking frightening.

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  1. Hal_10000

    The tax cuts he talked about are broad ones: payroll tax extensions and depreciation. This is the sort of thing the RW has been flogging for years. He also was talking about overhauling unemployment insurance more like Georgia has, which would be a good idea. If you cut out the infrastructure spending and identify real spending cuts to balance it, I’d almost support it.

    I’m also questioning the “uncertainty” meme that’s being used to explain our sluggish economy. Obama has actually imposed less destructive regulation that Bush did (so far) and pulled back the most onerous one (ozone). Obamacare doesn’t kick in until 2014, at least. And business is ALWAYS uncertain. There’s never a guarantee that business investment is going to pay off or the political climate won’t change in 2 years. The talk of business is that they don’t see a market for expansion.

    The Democrats have identified the right problem: slack demand. But they have the wrong solution. Demand is slack because debt is high. Not much we can do about that unless you’re willing to inflate the currency. We’re just going to have to wait it out for another few years.

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  2. AlexInCT *

    I’m also questioning the “uncertainty” meme that’s being used to explain our sluggish economy. Obama has actually imposed less destructive regulation that Bush did (so far) and pulled back the most onerous one (ozone).

    Between the Dodd-Frank bill and other such nonsense (Water threatening to sue banks out of business) and Obamacare, the bill that had to be passed so people could find out what was in it, and the EPA that is basically now implementing “Cap & Tax” when congress shied away from it because it was destructive, there are massive uncertainties. I know many small business people, and every single one of them says the same thing. They fear the fact they can not predict their costs and thus see if their business is viable, and they all blame it on these three things predominantly.

    Obamacare doesn’t kick in until 2014, at least.

    Not true. There have already been far reaching and harsh consequences from it. From the taxes already being collected/scheduled to the special changes being implemented to meet requirements that have drastically increased private insurance costs – mine jumped 16% after Obamacare passed, and is slated to do more than that this year – impacting employers or individual insurers, the list of issues is long and distinguished. Couple that with all those political favors in the form of exclusions for those government is picking to be the winners, and the fact that someone else will be made to pay for that loss, and you have another nebulous but horribly painful unknown just waiting to take a bite out of someone’s rear end.

    The Democrats have identified the right problem: slack demand. But they have the wrong solution. Demand is slack because debt is high. Not much we can do about that unless you’re willing to inflate the currency. We’re just going to have to wait it out for another few years.

    During which I am afraid it will only get worse before there is any chance for it to get better I am afraid needs to be added Hal.

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  3. richtaylor365

    because he is heading for an epic ass kicking in 2012

    We’ll see. I am cautiously optimistic, but respect Obama’s ability to campaign.

    Having actually watched the speech, some quick observations. HD is great for sports and movies, not so much for highlighting the physical flaws of old people, seeing Hillary, Nancy, and Al up close was disturbing. But no one can argue what a great communicator the president is. He was nails for this speech, his timing, cadence, passion, gestures, and delivery was spot on. He relies (or seems to) less on his teleprompter, he connects with his audience, never flubs a line or gets tongue tied, and appears to believe every bit of that stuff he spouts.

    The first half was about jobs, some of which is doable. The tax credits for small business, those that hire unemployed and veterans, this might help. The Pay roll tax cuts, not so much as history as proven. The dismemberment of the tax code, the eliminating loopholes and deductions, I’ll believe it when I see it.

    Putting the burden of funding his jobs plan on the super committee, mandating $2 trillion in cuts instead of the $1.5 they were originally tasked for, seems murky and hardly qualifies as ,”Alreay paid for”.

    I also wish he would shelf his demonization of millionaires and billionaires and lay off squeezing them further, he says its not class warfare but folks know differently. And for god’s sake, stop bringing up Warren Buffett and his tax liability, it is disingenuous.

    Obamacare doesn’t kick in until 2014, at least.

    But businesses are paying for it now, excluding those lucky 1400 or so donors that got their waivers, the costs of Obamacare are affecting those small businesses that might want to expand their payroll now.

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  4. AlexInCT *

    Having actually watched the speech, some quick observations. HD is great for sports and movies, not so much for highlighting the physical flaws of old people, seeing Hillary, Nancy, and Al up close was disturbing. But no one can argue what a great communicator the president is. He was nails for this speech, his timing, cadence, passion, gestures, and delivery was spot on. He relies (or seems to) less on his teleprompter, he connects with his audience, never flubs a line or gets tongue tied, and appears to believe every bit of that stuff he spouts.

    Not disputing any of this Rich, but damn, after 30 months of the orator-in-chief destroying the economy, all but the most hardcore and insane people aught to figure out we are dealing with a used car salesman, a con man, here. If people let them fool them as second time, as the saying say, the shame is on them.

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  5. davidstvz

    We have to read Alex’s less informed synopsis (didn’t even watch the speech) as the main post and get the far more reasonable takes as comments from the rest of you guys. I appreciate all of your opinions, but isn’t that a little backwards?

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  6. Jim

    I actually listened to the speech live. Something kept nagging at me the whole time and at first I thought, “Maybe I’m so jaded against him, I’m not giving him a fair shake.” Then one shoe dropped, “The people who have benefited the most need to share sacrifice.” It wasn’t until the speech was over and I sat thinking about it as a whole that the other shoe dropped.
    Think about the speech in its entirety. Some of the things he said were a complete 180 on his policies of, well, his entire political career. But he offered no explanation of why that might be. I realized that there was no “mea culpa” moment in the speech. At no point did he take *any* responsibility. So much so that the speech was crafted in a way to *dare* the Tea Party to veto the tax hikes, at which point, *they* get to bear the entire onus of the failing economy. If you distill the rhetoric of the entire speech, it reads thus:
    “I may have spent the last 2 years tying weights to your feet but, if you drown, it’s some rich guy’s fault for not buying you a life raft.”
    Seriously. Do you for a *single moment* believe the budget would have included mandatory spending cuts had the Tea Party faction not been elected? For 2 years this Administration had nearly carte blanche do do what they wanted. But now, all of a sudden, the President is worried how they are going to pay for it? Think back, now, let’s review:
    The Republicans hold out for extending the Bush tax cuts around election time. They are accused of playing politics yadda yadda. After the election, the Tea Party holds their ground on the debt ceiling. They are terrorists, obstructionists, etc etc. Why? Because they demand spending cuts and no tax increases and are “holding the country hostage.”
    Flash forward to President Obama’s speech:
    “Pass this bill. Pass it now. Don’t stick to your promise to not raise taxes for any reason, tax the rich to help pay for my bill.”
    All of a sudden, the President is interested in cutting spending, specifically Medicare and Medicaid, to fund tax cuts, but only if Republicans will fold and tax the rich? Who is attempting to hold who hostage?
    Taken as a whole, the speech was essentially a failing President attempting to make a power play and shift the entire blame of the ’11-’12 economy on anyone refusing to raise taxes on the rich to pay for a “jobs bill.” Politically brilliant. We’ll see how it plays out with the public.

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  7. working_man

    define what you mean by “more reasonable?”

    Historians don’t have to “be there” to be able to speak about a topic from the past which they have researched fo they?

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  8. richtaylor365

    That is why it is so important for the GOP to get it right this time. No, I don’t think Dracula could win, he might do better then McCain, but Obama will only be beaten by someone who can inspire those disaffected centrists who voted for Obama last time but will more then likely sit out 2012. The GOP nominee will have to work for this.

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  9. Xetrov

    You can read the speech in its entirety here.

    A few things that jumped out at me –

    We need a tax code where everyone gets a fair shake, and everybody pays their fair share. And I believe the vast majority of wealthy Americans and CEOs are willing to do just that, if it helps the economy grow and gets our fiscal house in order.

    What exactly is ‘fair share’?

    This isn’t political grandstanding. This isn’t class warfare. This is simple math.

    Yeah, it is pretty simple math – 47% already pay zero in income tax. The top 1% of income earners pay 40% of the income tax in the country already. Wealth Redistribution is not the answer.

    How many times did he say “You should pass this jobs plan right away.”? I counted at least three. What happened to the 48 hour wait he promised for all legislation to be posted online before it’s passed? Didn’t he learn his lesson from the Obamacare backlash? Guess not.

    A lot of promises, not much substance – which has been par for his course. I’ll be curious to read the actual plan (which he apparently wont put out for two more weeks).

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  10. Seattle Outcast

    Obama has never been, to me, a great speaker. Perhaps because I don’t watch him when he speaks, so I don’t get the whole show and I’m not influenced by his acting when he reads one off the teleprompter.

    What I come invariably come away with from one of his speeches is that he can’t go 60 seconds without lying. And he knows he’s lying – you can hear it in his voice. When he can’t even give a speech he believes in himself, why bother paying attention to him?

    He’s doomed, and he knows it.

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  11. Miguelito

    I only heard about 30min of his speech.. because our power outage had just hit and I was trying to get news. They wouldn’t cut away for even a minute to give any data and it really pissed me off. The fact that he was saying more of the same just made it that much worse.

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  12. AlexInCT *

    Spared me from having to make fun of David there working_man. Thank you.

    But yes, I too would like him to point out what he felt was said in the comments that was so much more “reasonable” than what I said everyone was already saying.

    And I love the fact that his big bone with me is that I didn’t waste my time listening to a used car salesman making a pitch and then pointed out that’s what it was. I think that if I had actually listened to the speech I would have been far angrier in my post. I hate stupid and that’s all last night’s speech was.

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  13. AlexInCT *

    What exactly is ‘fair share’?

    Whatever progressives academics and elits decide other people than them should be allowed to keep. It’s class warfare code 101 lingo. Capitalism isn’t fair, and the fact that that they have to pander to those capitalists they hate, those people that should know that progressives are their god damned betters, pisses Obama off.

    The more I read about the speech the more I realize it sounds like a petulant child using his used car salesman skills to sell people he thinks are stupid the same shit in a different package.

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  14. Hal_10000

    Did you hear that idiot Mark Zandi is claiming that if the jobs program is passed, GDP will go up 2%, 2 million jobs will be created, blah blah blah. And why shoudl we believe him now?

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  15. Miguelito

    I took the text from that link and did a
    grep -i ‘pass t’
    and got 12 hits!

    $ grep -i ‘pass t’ foo.txt
    customers for their products and services. You should pass this jobs
    Pass this jobs bill, and starting tomorrow, small businesses will get a
    tax cut if they hire new workers or raise workers’ wages. Pass this
    Pass this jobs bill, and we can put people to work rebuilding America.
    Pass this jobs bill, and thousands of teachers in every state will go
    and ours. And it has to stop. Pass this jobs bill, and put our teachers
    Pass this jobs bill, and companies will get extra tax credits if they
    Pass this bill, and hundreds of thousands of disadvantaged young people
    Pass this jobs bill, and companies will get a $4,000 tax credit if they
    Pass this jobs bill, and the typical working family will get a fifteen
    taxes, which is why you should pass this bill right away.
    the moment will allow us to pass this jobs plan ��� or any jobs plan.

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  16. AlexInCT *

    Yeah I did. it reminded me of Krugman saying that the problem with the first stimulus was that it was just too small, and that’s why it failed so miserably.

    Seriously, these people are so invested in their ideology and the stupid belifed that government can and should control everything so tat it can guarantee as many people as possible fcross the finish line at the same time, that even when all they get is failure after failure, it simply leaves them nothing but more determined to do more of the same, only harder, with even bigger disastrous consequences. If this isn’t insanity I do not know what is.

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  17. Hal_10000

    Well Zandi is a perfect illustration of how the media look at experts. Zandi has credentials, he comments on everything and he sounds smart. It’s only when you look at his record that you see he’s been so spectacularly wrong about everything. Btu as long as he’s confident when spouting his bullshit, no one cares.

    I mean, the level of precision in his predictions is ridiculous. The economy is NEVER that predictable. It’s a sign of someone who believes economic models, no matter what they say. I feel like hacking his computer and changing a few numbers, just he’ll go out and say that the stimulus will great 7 billion jobs and grow the economy 152%. You KNOW he would would. And you know the media wouldn’t question it.

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  18. hist_ed

    It’s a sign of someone who believes economic models,

    Glad to see that you are sceptical of computer models’ long term predictive ability. I am pretty sure you must apply that scepticism to all things that are so modelled.

    (Sorry Jimk, I couldn’t resist).

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