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Obama, You Ignorant Ass [Update]

I am livid. Your stupidity on the fundamentals of economics is breathtaking. You blame Republican tax cuts as “not working?” Jesus Christ, man!!! George Bush’s tax cuts cost a total of $1.4 trillion dollars over 8 years. Here’s the link. Not my opinion, it is a fact.

Meanwhile, the Federal Government spent an additional $4.9 trillion dollars. Barack, open your taxi cab ears and listen–the Federal Government, thanks to Republican negligence, doubled the national debt from $5.7 trillion to $10.6 trillion in eight years. That means the U.S. borrowed more money than it could repay.

Do you understand, sir?

Tax cuts did not break the Federal budget. Tax cuts did not immerse the Federal Government in a level of debt not seen ever in the history of the United States. Spending by the Congress and the President helped break the bank.

And your “solution” to the current crisis–which was brought on by people and institutions spending money they did not have and borrowing money they could not repay–is to have the Federal government borrow more money it cannot repay and spend it? Are you shitting me?

I am not defending those Republican assholes who acted so recklessly and irresponsibly. They are guilty. But their stupidity does not give you license or excuse to be equally idiotic.

Here’s the scary number. U.S. GDP (i.e. Gross Domestic Product or the output of goods and services produced by labor and property located in the United States) is $14.2 trillion. Our Federal debt is approaching $11 trillion. In other words, our debt represents almost 80% of our annual economic output and GDP is shrinking while the amount of the debt is increasing.

Do get it? If you are in a lifeboat in the midst of the ocean and it is taking on water the last thing you want to do is start pouring more water into the boat.

Sorry, I cut you no break on this. Stupid is as stupid does. Only in this case your monumental ignorance is putting a nation at risk.

UPDATE–As is typical of the obama disciple, SFHillary, he reads things into my observations that are not there. Who has called for “doing nothing?” Not me.

Let’s focus the stimulus on where if should be.

First, cut government spending. How? Every employee of the Federal Government who is in the Senior Executive Service (i.e., holds the equivalent of a senior rank, starting at the 1 star general level) should take a 20% pay cut. Employees at the GS 11-15 should take a 15% pay cut, and those at GS 10 and below should take a 10% cut. Lead by example and make the government lead.

The money freed up by those cuts can be redirected to pay to help people who are in debt over their heads stay in their homes.

This much is certain–adding to the size of the Federal Government will not stimulate the economy and provide for sustained growth.

Second, a reduction on the interest rates of adjustable home loans. This will be arbitrary and costly but the Federal Government will offer to buy up bad mortgages and in turn will charge the folks paying on those mortgages a lower interest rate. The goal is to keep people in their homes, reduce their monthly expenses, and give them a reasonable chance of saving their property. That offers a better chance of stimulating economic growth than having houses go vacant.

Third, no matter how noble or necessary you may think an investment in infrastructure is you must understand that such public works projects do little by way of general economic stimulus. Rebuilding roads, sewers or schools may give us a spiffier nation down the road but it is like any project–if you want to remodel your home you still have to come up with the cash or get a loan. Just because it is the Federal Government does not mean those rules no longer apply.

  • Spark1845

    I say, jail, try, convict and HANG Obama. PERIOD. Hairball Reid should be right next to him. Then, Eric the DICK Holder, then Pelosi and so on.

  • http://www.facebook.com/thedaryl Daryl L. Hunter

    Well said!

  • Obama hussain

    What in the hell are you raving about you red neck pirate.Obama is the best thing now to run the country and sink us into the red debt tha twas created by all politicans.I say he needs a good spanking and a beating .Hey put him picking cotton.

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  • sub

    Benny Dawkins, this is Larry’s blog. He can say whatever the hell he wants. And so can I. if you want to stick your head up BHO’s rear entry, because you’re so enamored of his lovely speaking voice, that’s up to you. i’ll be calling him out for what he is, and arrogant narcissistic pretender. come back here in three years, and hang your head before me….

    sUb, NYC

  • sub

    it’s a month after this article, and look at what barack obama’s “economic policy” is doing to the US and world stock markets. this guy is like poison. and don’t talk to me about what he “inherited.” that was priced into the market when he took office. everyday, the market just goes down (17 of last 20 sessions, something like that). he’s been easily exposed, along with his tax cheat buddy geithner, as clueless, ineffectual, arrogant scum of the earth. I detest Obama, and I will do whatever I can to make sure he only has four years to ruin us. Thanks dems, you guys are a bunch or real geniuses….

  • Portuguese Revolutionary Patriot- Peter Francisco

    Fellow Patriots,
    Please got to Military.com website, link below, and VOTE.
    This is to swupport LT Easterling who agreed to become a plaintiff in Orly Taitz Military Lawsuit. There was a badly written article about him and he needs support. Thanks & God Bless US.

    Please do it this instant it will take a few seconds.

    URGENT EVERYONE,

    CALL TO ACTION got to the Military Website and VOTE on the MIDDLE CHOICE it is running close right now.
    The link on the story Opened for me by hitting SHIFT + Click.
    OR Click this link directly to the poll:
    http://www.military.com/hp/poll?poll=4181
    Probably can vote multiple times.

    Story Link: http://www.military.com/news/article/February-2009/officer-calls-obama-usurper-imposter-president.html

  • Portuguese Revolutionary Patriot- Peter Francisco

    Hi fellow Patriots,

    I just want to encourage Dr Orly and all the Patriots in this struggle. Keep up the great effort our country depends on Minutemen like you and Seeking the Truth is God’s work.

    REMINDER:
    TODAY Feb 11 AT MIDNIGHT is the Final Day to Order a Numbered and Signed copy of the Larry Sinclair tell all book on “obama”. The book is an espose’ about homosexual sex, crack cocaine use & Murder. We need to help put this book over the top. “obama” got falsely famous with 2 books he may also be de-throned with one book.
    The Chigcago family of ASSASSINATED Donald Young, “obama’s church’s” choir director and supposed homosexual lover, needs closure. Making this book a success will expose this FRAUD.

    FOR MORE INFO ON BOOK:
    http://larrysinclair-0926.blogspot.com/

    I ordered my copy long ago. Mr Sinclair has been put thru hell and has been threatened with death, etc. His courage needs our support.

    God Bless US.

    PS “obama” found a house for a homeless person in less than an hour but can’t find his original Birth Certificate in well over a year?

    • Bazooka

      The above sounds like your typical NQ reader. Love it! This guy should be the president.

  • Bazooka

    Nice rant Larry, but a little misguided!

    It is exactly right to say that the tax cuts did not work. The point of the tax cuts were to stimulate the economy and you would expect create some jobs. They did not do that.

    I don’t think anyone including Obama is saying that taxes were the only reason the debt went up, but it contributed. I don’t think Obama would disagree with you on saying that spending was the reason for much of the increase in debt. Republicans spent and spent for years and the dems had no power to stop them.

    Where exactly did Obama say that tax cuts entirely caused the expansion in the deficit?

    A government stimulus package that uses borrowed money is a viable strategy to help kick-start the economy. This is completely different than bad mortgages or a credit bubble based on cheap money that were the basis for the current crisis. The government deficit is not the reason for the current economic mess. It does not help and makes it more difficult to pass a recovery plan, but it was not the cause of the problem. So to equate a stimulus plan with what caused this mess in the first place is completely false. A stimulus is not at all more of the same. Sure adds debt, but for the reason to kick start the economy.

    You are right the deficit is not in great shape and is tragedy of the Bush era. Total gross debt as percentage of GDP has averaged about 50% since 1940 and topped out during Clinton years at about 65% and steadily climbed during bush years. Compare it to Japan at 170%, Norway 83%, Canada 64%, Germany 65%, France 64%. However, that is total debt which includes social security obligations. If you exclude social security, which has been ballooning and only look at US Federal debt or public debt, as a % of revenue it has acctually been falling. It is now about 40% of GDP after topping out during the Clinton years at about 50%.

    http://barelkarsan.com/2008/09/debt-as-percentage-of-gdp.html

    Not great to add more debt, but the economy can probably afford the stimulus, particularly if it gets the tax dollars flowing again.

    Your suggest of a government pay cut will not get your very far. Actualy may make things worse as you will be taking more spending out of the economy.

    Just trying help pay for mortgages or lowering mortgage rates will create zero new jobs and is a stupid idea. The mortgage problem will be handled separately by TARP II.

    See this: http://online.wsj.com/article/SB123388493959055161.html

    Infrastructure spending will create jobs for the next couple of years (economist are claiming 3-4 million by end of 2010). Not sure if it will be enough, but probably better than doing nothing. I think the idea is to at least stop the deflationary tailspin and kick-start the economy or getting it at least heading back in the right direction.

    From one of the most conservative economists around:

    “The only way to prevent a deepening recession will be a temporary program of increased government spending. Previous attempts to use government spending to stimulate an economic recovery, particularly spending on infrastructure, have not been successful because of long legislative lags that delayed the spending until a recovery was well underway. But while past recessions lasted an average of only about 12 months, this downturn is likely to last much longer, providing the scope for successful countercyclical spending.

    A fiscal package of $100 billion is not likely to be large enough to revive the economy. The fall in household wealth resulting from the collapse of the stock market and the decline of home prices may cut aggregate spending by $300 billion a year or more.

    The president-elect should focus on developing a mechanism for identifying and funding spending initiatives that can occur quickly and that would otherwise not be done. While it would be good if some of the increased spending also contributed to long-term productivity, the key is to stimulate demand. Any plan to finance this spending by raising taxes, even if postponed, as Sen. Barack Obama has suggested, would hurt the recovery by causing affected taxpayers to cut their spending now.

    The increased government spending should include not only money for infrastructure such as bridges and roads but also for a wide range of equipment. Rebuilding some of the military capacity that has been depleted by the wars in Iraq and Afghanistan could be done relatively quickly and should be part of the overall package.”

    http://www.washingtonpost.com/wp-dyn/content/article/2008/10/29/AR2008102903198.html

    End of the day Obama has been handed about the biggest shit sandwich you can have. There will never be solutions that everyone will agree on and make everyone happy. Nice way to have to start the presidency. Essentially take the heat and anger for something the Republicans created.

  • Benny Dawkins

    Larry, You ignorant ranting moron. Who the hell gives you the knowledge to act like you know so much. Hey dumbass, the president said it did not create jobs. Got. Go look for one moron, Bozo Bush left so many around.

    Benny Dawkins

  • lynn2829

    Obama inherited a 8 year nightmare and the only ignorant ones are people who expect him to fix the economy in less than a month

  • Cathy6224

    I thought the Dems had enough to pass without the Republicans? So what is it, they want Republicans on board to blame them when it fails and it will fail.

  • Cathy6224

    Let the government bailout small companies going under due to credit crunch, rather than big corporations who are going under due to greed. Help those home owners who lost their jobs. Those who aren’t home owners give them money to pay off their debts or purchase cars and things needed, that will stimulate the economy.

    Rebuild the manufacturing industry within the US

  • Blunt Force Trauma

    Sorry to report Larry, according to Reuters, as of 12:40 PM, EST, Reuters is reporting that ‘Senate passes $838 billion economic stimulus plan, sets up negotiations with House of Representatives’.

  • Tricia Spiegel

    Wow–Larry–You sound almost like, but better than, Keith Olbermann back when he was sane!
    Thanks!

  • wodiej

    GM laying off 10,000…..

    • Blunt Force Trauma

      Which is effecting salaried employees and is up from 5,000 last week.

  • I’m a Linda too

    woohoo Larry. Yep.

    And, the irrespsonbility for media and Camp Obama to just say this plan will create and save 4 million jobs is a lie. And worse, to claim “most” of this money will be to create, save and stimulate the economy. Repeating a lie many times does not make it true or fact. And Even if parsing words it became true, that they just made a majoirty for this effort, lets say, 430 billion for the goal, that means he’s wasting 400 billion in additional spending?

    But, sadlly Larry, he is proving us correct again. Especially on the finance market where he is protecting his donors. Like when he voted against the cap for interest rates.

    He is not adding the Republican plan to lower interest rates to 4 percent, or anything similar. He’s not even offering that as a solution for the 350 billion tarp funds. No no no, they want to bring our home prices down, so they can charge high amounts of interest rates, the same repeat of what brought the housig bubble. Then when the home prices inched up and up on a hot market, we got the sub prime mortages.

    And that’s why many are freaking out at this plan. It will so hurt so hurt our country. But the financiers are giddy with excitement, which is why they started buying troubled banks.

    DISASTER. Worse than Bush 2.0, because he’s repeating mistakes on a grander scale after being put in an economic mess.

    Again, what we all predicted.

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  • indiedogg

    “Scum”

    How articulate.

    How we have elevated the level of discourse. Very persuasive. I’m surprised Billy Shakespeare himself hasn’t risen from the bog to applaud your erudition.

    Monty Python help us; the king is crossing the bridge (might take some of you back a bit, but still funny, and instructive).

  • EWard

    Larry

    Great analysis about our economy and Obama’s poor performance. I agree with the other NQ posters that the questions he answered were planned. I listened to the conference on my car radio and noticed that he called on the Huffington Post reporter, Garrett of Fox, Chuck Todd of MSNBC, and Tapper of ABC. They are all Obama media hacks. Did anyone see Ed Schultz of Air America in the audience? These people are a joke!

    I agree that government employees should take a pay cut.

    One more note, on KSFO after OIAF’s conference a financial reporter stated that the buzz in financial circles is these institutions are underreporting their losses. And the amounts are huge.

    • http://Safari AnnieCollier

      I don’t watch anything that includes Ed Schultz. He’s scum.

  • cynic

    I credit Obama for giving thoughtful responses this evening that suggest he believes the American people are capable of intelligent analysis and have more than a 60-second attention span.

    Here’s a link to a full transcript of his Monday evening press conference, it anyone is fuzzy on what was actually in some of those long answers:
    http://edition.cnn.com/2009/POLITICS/02/09/obama.conference.transcript/

    • AlexisM

      If Americans are capable of intelligent analysis then we should sum up the Bacon Bill for them and let them get educated on what a fraud and con job it is.

  • AlexisM

    Good lord when are you people going to stop whining about rich people? America was founded on the principle that anyone can become a success. Not on the premise that the rich have to carry the lazy.

    Let’s take a poll…of all the people here out of work…would you honestly do the dirty jobs that the illegals do? Pick lettuce, dig ditches? No, you would rather get a free ride off the “rich people” that you envy and hate. The rich should work their azzes off to carry you. Right? That’s disgusting.

    We’re a welfare, lazy pathetic society. We have to send our business overseas because Americans won’t do the cheap labor. We have illegals coming here taking our jobs because lazy azzes would rather collect welfare on the back of the rich than do those jobs. So illegals take the jobs, don’t pay taxes, and send all their money back to Mexico. What’s wrong with this pathetic picture?

    Too many Americans are buying the free ride theory. Good luck with that. The more Obama pushes that, the more wealth leaves this country. Corporations don’t have to be citizens. And until America stops the liberal jealousy and hate for people who work hard and get paid for it, then we are going to fail. We’re not Canada, we’re America. But, of course, no one has to live here. Quite frankly, I am tired of paying the taxes I pay to support people who won’t work. It’s appalling.

    • http://www.marklevinshow.com/ Seattle Moss

      Alexis,
      Excellent post..When I drove through apple orchards last year i was appalled at all the fruit left on the trees not being harvested because of a crack down in illegals. If we wanted a real stimulus we could direct the unemployed Americans to the farms to pick the harvest.
      This won’t happen until food is the most important factor in everyday life. That is when Americans will take the ditch jobs.Until then they will blame the rich and those that work hard to make jobs possible for others.
      Societies don’t change until there is revolution.

      This is the change we are going to see here and in other countries
      http://www.telegraph.co.uk/news/newstopics/politics/4571944/Ed-Balls-minister-fears-rise-of-fascism-amid-economic-gloom.html

      • AlexisM

        My father came here from Greece with a family to feed. He is way too much of a “man” to go on the government dole and ask for handouts. He took whatever work he could to feed his family, and studied at night so he could learn a valuable trade that eventually made him wealthy enough for us to be comfortable. None of that exists anymore. None of it. The American dream and spirit is gone. It’s “let’s destroy the rich and steal from them” which is a disgrace. What kind of “man” does something like that? If someone has bills to pay, or a family to feed, they should get out in those apple orchards and pick apples. Period. In fact, Seattle, that’s a really good plan. Send those on welfare and unemployment out to the fields.

        • http://www.marklevinshow.com/ Seattle Moss

          Alexis,

          The American dream and spirit is gone. It’s “let’s destroy the rich and steal from them” which is a disgrace.

          Those that create the jobs employ the workers and buy products that other workers make are being looted and punished for their good works.
          Last week the Yacht builder closed laying off 600 people;
          The week before the small jet builder closed
          The week before that all the RV builders closed
          The week before that the custom builders went under.
          They all employed regular workers with families to feed
          The liberal Marxists would rather we all drive one car and live a life style they dictate.
          Problem is there is no job creation with that model
          Damn those rich people…They create far to many jobs!

          • AlexisM

            I’ve said it before…the wealthy in Venezuela got tired of Chavez and took their money elsewhere. A lot of it came here, much of it to Florida, thanks very much to them. We will do the same. If people can’t pursue their dreams here, they will go elsewhere. My family has a lot of friends who decided to just retire early and close their businesses, rather than go through the Obama nonsense. They could have continued to employ people and do business, but it’s just getting too hard to look to the future positively with someone like Obama destroying incentive.

            • http://www.marklevinshow.com/ Seattle Moss

              Alexis,
              I can only give myself as an example..
              I’m fortunate to have had a great education and upbringing from a father that sacrificed everything material so that his two sons could be equipped for the world out there.
              My easy life ended with the collapse of the oil industry back in the 80′s. My father lost everything he had built over the years especially his career and for several years it was really hard for me.
              I realized that it was up to me to make something of myself in this world and that I would have nobody to help.
              I moved up to Seattle in my car with just a hope and a prayer not even knowing a soul in this town.
              Over the nearly twenty years I have been here, I first etched out a living anyway I could by selling whatever products that needed to be sold.
              I finally got recognized one day selling high end windows at the home show many years back. I had been working everyday at the show and the other reps laughed at my drive to get every last deal. Then walked in a friend of an owner of a plastics company and he stood and watched my style. He then wanted me to sell him a single door miles away. The other reps couldn’t believe that I would drive sixty mile just to sell a door. But I knew I could sell him all the windows too. When I got to his house he wasn’t so much interested in the door although he bought that along with the windows. This gentleman was interested in my life and in my future and told me I had the opportunity to take the job of a lifetime building a plastics company for his friend.
              Since that time I have doubled the business for this company and have become a partner part owner and member of the family. I owe all my success to not giving up and working the extra hours and going the extra distance to get the deal.

              • AlexisM

                First, Seattle, there are two of you out there? Be still my heart.

                I have never been on unemployment or welfare. Ever. I started working when I was 19 and have worked every single day, even weekends, since. I have never taken government money, never, for anything. Nor will I. I am educated and have a craft and talent, but if that ever stops being lucrative I will scrub toilets in a Motel 6 before I go on the dole and steal money from those who earned it. Never, ever, ever will I promote depriving people of their success so that I can have a free ride. I have pride and dignity and my spirit would die if I took from others. I can sense that you would never do that either, being the man you seem to be. Congrats on all of your success!

                • http://www.marklevinshow.com/ Seattle Moss

                  Alexis,

                  I have pride and dignity and my spirit would die if I took from others. I can sense that you would never do that either, being the man you seem to be.

                  As I was rising here in Seattle there were times when I was alone and searching. Empty and wondering why I didn’t have the easy road like some. I set out to cure myself of this self pity by volunteering to help people at my local church. What I came to realize was how fortunate I really was and how I could never forsake my parents and what they had given me. I have taken that attitude all the way and work so that others can work and provide for their families. Part of my job is motivating others either at work or in my church. We all have a gift that God has given us to perform in this world.

                  • AlexisM

                    Seattle, you are a dreamboat. What a lucky woman your wife is. And what a great American you are. Like what America was when our forefathers created it. I have no earthly idea what the hell America is now. But I pray for the backlash. Just like in physics…every action has a reaction…time to clean America up from the filth we have wallowed in for too long.

                    • http://www.marklevinshow.com/ Seattle Moss

                      Alexis,
                      You’re a real patriot!
                      The backlash will be severe.Not just about Obama but this whole culture that brought us here to this moment.
                      I appreciate your confidence that we will get through this mess intact.
                      I’m preparing for the revolution

                      The revolution of American patriotism pride, value in work, decency towards others and respect to all people especially women.
                      This revolution starts in 2010

                    • AlexisM

                      LOL Seattle…the Revolution has already started. Victory is in 2010 and then in 2012.

                    • cynic

                      If you’re part of a society that has got some serious systemic problems, the rational response is to start trying to fix things, not to burn it all to the ground.

                      Don’t advocate total ruin and try to pass it off as patriotism.

                    • AlexisM

                      Cynic…it’s Obama and Pelosi who are advocating our total ruin. We’re just going to stop them, that’s all. This is America, not the old Soviet Union. Grow up, get a backbone, get educated and stop your partisan rants for God’s sakes. If you’re going to live here, be American and love America dammit.

    • cynic

      We have to send our business overseas because Americans won’t do the cheap labor.

      Tell that to any midwestern American who worked hard for years, only to have the factory he or she worked in packed up and moved to China.

      The average full-time factory worker in China earns about $40 per week. How are American workers supposed to compete with that?

      Most Americans couldn’t live on the wages an illegal alien picking lettuce earns.

      I don’t believe laziness much to do with any of this.

      • AlexisM

        LOL cynic…why do you think that company moved to China in the first place? And, do you think maybe if the left stopped the influx of illegals here, that those jobs would be available to Americans? Hmmmm….Oh yeah, it’s all the Republicans’ fault. You should start reading up on who creates these policies that cause the problems.

        • cynic

          Why do you think that company moved to China in the first place?

          Simple. To cut costs and increase profits. Besides being able to pay slave wages, when they farm out the work to China they don’t have to worry about healthcare costs, safe working conditions, paying social security taxes, unemployment taxes, workers compensation insurance, or providing any retirement benefits. They also don’t have to worry about responsible environmental practices. Child labor goes unnoticed.

          • AlexisM

            And, cynic, why do you think that is? Could it maybe be unions having something to do with that? Could it be that it’s impossible to make any profits if you have to pay more than jobs are worth, salary-wise and you have to pay ridiculous benefits? Unions have destroyed business in this country. Whereas they once served a purpose, now they serve for extortion. Either give, give, give or we will shut your business down. There are two sides to every story. Not just that rich people and, therefore republicans, suck.

          • Newly Independent

            Besides being able to pay slave wages, when they farm out the work to China they don’t have to worry about healthcare costs, safe working conditions, paying social security taxes, unemployment taxes, workers compensation insurance, or providing any retirement benefits. They also don’t have to worry about responsible environmental practices. Child labor goes unnoticed.

            Exactly.

            In other words, these corporations don’t have to worry about treating their Chinese or Mexican employees like human beings. They can treat them like borderline slaves.

            That seems to be one thing that the “new” “progressive” Democrat party & fiscal Republicans have in common: their hatred for working class America.

            Having said that, it is also disgusting for some Americans to want to live off of working Americans like parasites instead of taking advantage of our free Capitalistic system by working for themselves or creating businesses that will provide new jobs for other Americans.

          • http://sonicninjakitty.wordpress.com Sonic Ninja Kitty

            Why do you think that company moved to China in the first place?

            Simple. To cut costs and increase profits.

            Yes, and you can add the fact that foreign labor makes the goods we buy here cheaper, giving us a better standard of living. Oh, and when foreigners have better wages which lift them our of poverty, they tend to start buying our raw materials and products, too. It all comes back around.

            Free trade (which includes movement of jobs to places that increase economies of scale) should not be demonized, but rather lauded. It raises the standard of living for everybody in the world.

            Americans will just have to get smarter in the jobs they decide to train for, and get used to more mobility in the job market. We cannot take all the benefits of free trade and lower product prices and then claim we don’t want to participate on the other end of it.

  • http://sonicninjakitty.wordpress.com Sonic Ninja Kitty

    Larry, Remember–Obama was a part of the Congress that created the astounding government spending–he’s just continuing down the same path–faster! For us it is the road to serfdom.

    I’m no expert, but I wonder why more people aren’t talking about the inflation this spending will cause (surely!). Some deflation (which we have now and will continue if allowed) is actually a good thing–something we should want. It adjusts prices down to where they should have been in the first place. I know it’s painful (especially in housing) but we cannot continue to have unrealistic expectations of our house values soaring. How will our children ever afford any house?

    Obama’s minions are trying to scare people with chicken little talk of a ‘deflationary spiral’ but don’t believe it! The CBO has predicted a bottoming out of this recession (which is NOT the worst since the Depression, as Obama constantly says!) during the second quarter of this year.

    Inflation will kill us–it will suffocate businesses and raise everyone’s cost of living. Tax cuts (NOT tax rebates, which are one-time deals that no one can make long-term plans with) will help businesses plan for investment and growth, which is what we want. Businesses provide the stable, long term jobs as opposed to the ‘stimulus jobs’ that are temporary (if there even are many–one estimate I heard said that if you take the money, divide by the number of jobs it’s supposed to create, it comes to almost $300,000 we will pay to ‘create’ each job!).

    I get so frustrated when Obama repeats the false phrase “failed policies of the past”!! The thing that failed was NOT the economic policy per se, it was Congress–in terms of creating laws that forced banks to make bad loans, in failing abjectly in oversight when all those banks were over leveraging/credit default swapping, and in spending like there was no tomorrow!! And YOU were a part of that, Obama, so shut the heck up!!