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Obama’s Victory Economy, NOT!

By Larry Johnson on January 30, 2013 at 10:49 PM in Current Affairs

Imagine what the left wing media would be writing and crying about if George W. Bush was still the President and offered up this kind of pitiful economic outcome:

The US economy shrank 0.1 per cent at an annualised rate in the fourth quarter of 2012, the first contraction in three years, rattling financial markets and highlighting the danger of across-the-board federal spending cuts due in March.

Much of the fall in gross domestic product was due to a big reversal in business inventories and a plunge in federal defence spending which each knocked 1.3 percentage points off growth. That suggests the broader economy remains on a weak but stable growth path of 1 or 2 per cent.

Oh wait. Obama and his team accept blame for nothing. Nope, despite controlling the White House and the Senate the main culprits for the terrible, weak, faltering economy is?

The Republicans.

Until Barack Obama understands that higher taxes, undisciplined Federal spending and a socialist world are lethal to economic growth, he will continue to preside of an economy unable to re-employ the millions who lost their jobs during the 2008 downturn.

  • JohnnyTwoDog

    Three weeks ago Democrats were still calling the fiscal cliff a mirage.

    “Fiscal Cliff” a Fake Crisis -Daily Kos
    http://www.dailykos.com/story/2012/12/24/1173660/–Fiscal-Cliff-a-Fake-Crisis#

  • no_longer_a_democrat

    Com’on now Larry, its all Boooosh’s fault, always.

    Its only Boosh’s and the “evil” republican’s fault when the economy is not booming, when it is booming (won’t happen as long as Barry’s in the WH) well, that that point, then Barry and the dimocrats get credit.

    Pelosi and the dimocrats are drawing up cap n trade legislation right now….ya know to “help” the economy, and when it doesn’t pass, it will be repubs fault for not passing crap policies.

    And Obamacare hasn’t even kicked in yet, all these policies, new taxes, increasing debt all suffocating the economy and gee Barry and the dimocrats can’t figure out why the economy is shrinking and suffocating.

    Its all Boooooosh’s fault.

    • getfitnow

      Remember when the Leftists were screeching about the 6% unemployment rate and “McDonald’s economy” under Bush?

    • elizabethrc

      I listened to Dr Siegel yesterday on FOX and he spoke about what Obamacare is doing to primary care physicians. They are leaving their practices in large numbers and very few current medical school candidates are opting for that particular branch of medicine, choosing instead to become specialist physicians. 82,000 is the number quoted to have left practice.

  • akaPatience

    Last week NBC Nightly News seemed to imply the DOW’s nearing an all-time high is because of the wise economic policy of their favorite POTUS. What they failed to inform viewers of is that the market gains are mainly because of the Federal Reserve’s pumping policy. And now we know the economy actually contracted in the 4th quarter of last year. F-ing unbelievable.
    I’m sick and tired of fawning media making excuses for Democratic Party mismanagement these last 6 years. They sheepishly suggest that this may be the New Normal — high unemployment and a chronically sluggish economy. Well, if Democrats continue to have their way I guess it is. When are these overpaid talking heads ever going to face up to the fact that behind the gloomy numbers are actual people and families who are suffering? Will they ever concede that their chosen ones are paving a road to ruin?

    • getfitnow

      And keep in mind, this happened when we, the People, had 2% more income to spend.

      • elizabethrc

        “volume does not equal value”. That should be in banner headlines.

      • akaPatience

        My Obot husband asserts the equities markets “anticipate”. Well, it’s been anticipating/indicating wrongly these past 3 years or so. He watches MSNBC day and night and buys its BS, but completely dismisses anything negative about the POTUS’ mismanagement that’s commented on in the WSJ, IBD, FT, etc. Some people only believe what they want to believe.

    • DianaLC

      “When are these overpaid talking heads ever going to face up to the fact that behind the gloomy numbers are actual people and families who are suffering? ”
      I’ve tried using my son’s experience recently being out of work and struggling to find work to talk to my lib brother and sister and friends about how terrible the economy is. I’ve even used my own recent experience working a temp job to give them an idea of the enormous number of people I worked with all with college degrees trying to make a living with one temp job after another and part-time jobs on top of them.
      In regard to my son’s struggle, they just give platitudes about how nice it is that he was always abele to convince someone to give him a job. HUH? Some feel by mentioning my son’s troubles, I’m embarrassing him in some way and should guard his privacy. HUH?
      Mostly it’s that they are my age, settled into retirement. They don’t want to rethink the worldview they’ve created for themselves over their lifetimes: Democrats, the party of the people, against Republicans, the party of rich white guys. America will exist forever as they remember it and experience it now in their own little mental bubbles.

  • HELENK2

    I keep wondering if wrecking the economy is on purpose.

    EPA and the many added regulations
    obamacare

    bailouts

    green energy loans

    pigford money
    end work regulation for welfare
    stopping the keystone pipeline

    a punch drunk teenager with a credit card would spend money more wisely

    • KenoshaMarge

      When you do things according to your ideology and ignore common sense and reality then it is on purpose. Add in the “high” of being all powerful and being able to vanquish your enemy with the help/contrivance of a powerful media and an ignorant/credulous population and you have chaos.

      I wish I believed that things would get better. I wish I believed that Obama and his Administration were honest and competent. I don’t.

      When all is said and done, when the dust settles, whatever is left of this country will be what we “inherit” from a criminal media/Democrat conspiracy to get their way no matter what it does to the United States. Because many/most of them don’t much like their country a whole lot anyway.

      • foxyladi14

        Right on Marge!!!1

    • getfitnow

      I don’t wonder, HELEN. This is what socialism looks like.

  • KenoshaMarge

    I find the DOWs unrealistic exuberence worrisome. Another bubble? And if/when it bursts, what then?

    • akaPatience

      Ditto Marge. All we can do is try to protect any gains until the Day of Reckoning. As long as the Fed keeps printing money it’ll probably buoy the stock market.

      • KenoshaMarge

        I hope I’m wrong. But there is no way that the DOW should be so high-spirited given the sluggishness of the economy. My fear is that it’s another damn bubble and that people will be hurt again. Many still haven’t gotten on their feet from the last disaster.
        I also refuse to believe that the DOW is a sign of a healthy economy. It seems to head for record highs just before it goes bust.

  • getfitnow

    “Unexpectedly” backwards!s/ This is what an Obama Economy looks like. I’m not worry ’cause Marco Rubio is so dreamy. /s

  • elizabethrc

    But isn’t that excactly what Obama wants for America? I’ve long ago lost any illusions (not that I had them where he’s concerned) about his love of this country. I believe he is so driven by the ideas implanted in him by his associations over decades with Davis, Ayers, Wright and the like, he sees success as destroying America and he incapable of changing that mindset.
    The fact that Democrats in Congress skip merrily down that path with him makes me realize just how far off that path they have strayed. They should not, as presently constituted, be allowed any role in the running of this government.

    • DianaLC

      Yesterday, I got a call from the Conservative Majority (I believe that’s who called). The caller tried to convince me they were going to get Obama impeached. I told them that I had given up hoping anything would stop Obama, that I felt the Republicans were as inept and corrupt as he is, despite claiming conservative agendas. I would not donate to any sort of political organization ever again. I’m trying to figure out ways to preserve any of my financial assets (though I am not close to being wealthy) to be of use for my two sons and their families, so they will have a buffer against what’s coming.
      On a different note, I get to breathe a little easier. My second son has finally found a job after being without a permanent job since April. He’s bounced from part-time to temp jobs, sometimes both at once since. But finally a real job, and though it pays as well as the one he lost (but also with a chance of overtime), he’s thrilled because he thinks it’s a job that will provide him with a chance to learn new skills. And he says everyone there seems happy to be there. It’s a locally owned buisiness.
      I told him that he had a right to feel proud of himself since so many can’t seem to get that permanent job. I watched as he did everything he could to work while being out of work, so to speak. He worked so hard at those temp jobs while working hard all the time at sending out applications.
      He will never take a job for granted again, I think. But he has much to do now to start building his future, which had received a terrible setback in O’s economy.

      • elizabethrc

        Congratulatons to your son on both his efforts to find a job and his success in getting one he likes.
        Effort is something Democrats seem to despise. I no longer think they understand or even subscribe to ‘self respect’. Pride in one’s own abilities escapes them and without it, we will fall into decay as a country.
        How ashamed of us our Founding Fathers must be.

        • DianaLC

          Thank you. He used my computer alot while job searching, as I have the Microsoft Office stuff for uploading resumes and cover letters. I saw first hand what he had to go through.
          We both determined early on that if he was going to get a job, he had better NEVER sue the employment agency that got him into the situation or take unemployment. It was clear on some of the applications that answering yes to that one about unemployment would mean his application would go into the trash immediately.
          And I should brag some more. This week after starting his new job, he received a call from the local store of the large national company (that is an Obama supporter) that he did seasonal work for recently. They were going to offer him a permanent PART-TIME job. He was so thrilled that he didn’t feel obligated to accept.

      • http://noquarterusa.net Larry Johnson

        Amen. Those so-called conservatives who are using fear to enrich themselves are just as bad as Obama.

      • HELENK2

        I am so glad for your son. Good Luck to him

  • elizabethrc

    An interesting email I received today says it all:
    If a Republican doesn’t like guns, he doesn’t buy one.
    If Democrat doesn like guns, he wants all guns outlawed.
    If a Republican is a vegetarian, he doesn’t eat meat.
    If a Democrat is a vegetarian, he wants all meat products banned for everyone.
    If a Republican is a homosexual, he quietly heads his life.
    If a Democrat is a homosexual, he demands legislated respect.
    If a Republican is down-and-out he thinks about how to better his situation.
    If a Democrat is down-and-out he wonders who is going to take care of him.
    If a Republican doesn’t like a talk show host, he switches channels.
    If a Democrat doesn’t like a talk show host, he demands that those they don’t like be shut down.
    If a Republican is a non-believer he doesn’t go to church.
    A Democrat non-believer wants any mention of God and religion silenced.
    If a Repub. decides he needs health care, he goes shopping for it, or may choose a job that provides it.
    A Democrats demands the rest of us pay for his healthcare.
    Pretty much says it all.

    • DianaLC

      I got the same one. It’s been going around for a while. But it makes a good point.

    • akaPatience

      Ain’t it the truth!

  • DianaLC
    • HELENK2

      watched it stole it

  • foxyladi14

    Nailed it Larry

  • HELENK2

    stolen from a commenter at the crawl dad hole

    http://www.youtube.com/watch?feature=player_embedded&v=NyYYgLzF6zU

    • DianaLC

      Wow! What a great defense of the 2nd Amendment. And, of course, it comes from a legal immigrant who knows the value of the Constitutional principles.

  • HELENK2
  • HELENK2

    http://www.usnews.com/news/politics/articles/2013/01/31/obamas-jobs-council-shutting-down-thursday

    backtrack shutting down the Jobs Council.

    not that he ever listened to them anyway

    • getfitnow

      Didn’t they only meet about 3–4 times?

  • HELENK2
  • HELENK2
    • HARP2

      Unions are having an “oh shit” moment.

  • HELENK2

    http://newsbusters.org/blogs/noel-sheppard/2013/01/30/67-percent-texas-republicans-want-obama-impeached

    67% of Texas Republicans want backtrack impeached. so to others. the breakdown might shock dems

  • HELENK2
  • HELENK2

    http://freebeacon.com/wasting-away-again-in-afghanistan/

    wasting away again in Afghanistan.
    $7.3 million building turn over the Afghan police and nobody uses it

  • akaPatience

    And when is anyone going to allow that years of Fed policy hasn’t succeeded in lowering unemployment? Even though interest rates are uber low, people aren’t necessarily borrowing and spending more — they’re smart enough not to stick their necks out in these uncertain times, much less with so many unemployed or under employed. And anyway, why would banks loosen lending when they stand to gain so little with such low interest rates? What price will we eventually pay for all of the money printing?

  • MG6
    • DianaLC

      I wonder if, like the Holocaust, they think the studies connecting canibalism to prion diseases suffered by some native tribes are myths. (Mad Cow disease and that disease that eventually prevents a person from sleeping and several others are prion diseases.)

  • HELENK2

    Just the interest payment on the national debt

    http://www.youtube.com/watch?feature=player_embedded&v=VtVbUmcQSuk#!

  • JJ_the_PUMA

    While I supported a national healthcare plan in principle, what was passed into law just won’t work economically. I would not underestimate the drag this will have on the economy as 2014 approaches.

    • DianaLC

      I knew we needed to work on the costs of medical care. I wasn’t thinking of healthcare INSURANCE, however. It seems strange to me that the idea of heath care itself and healtcare insurance has become so intertwined.
      I wanted people to work from the bottom up, on specific fixes rather than thinking they could do an overall fix at once. It never works.

    • getfitnow
      • JJ_the_PUMA

        The biggest single reason the bill as written can’t work is that the penalty (oops, I mean tax) is so small compared to the cost of insurance. A person can therefore wait until they get sick to buy insurance, which can no longer be refused. The second biggest problem is that they have put such a large burden on business that they will find ways to avoid providing coverage. Companies will not allow workers to work more than 30 hours per week, will stay under 50 employees, or just pay the penalty, which will often be cheaper.

        • getfitnow

          Yep. The “new norm” for work week is already happening. I have 2 friends that were looking for jobs last year. All jobs had the ceiling of less than 30 hours.

          Most employers are not crazy.

  • MG6

    One has to wonder why Hispanics follow the empty suit, here is why…

    http://www.americanthinker.com/blog/2013/01/el_culto.html

    • DianaLC

      Interesting take on the situation. I live in CO, so it is not necessary to remark that there are quite a few Hispanics around me. I am always so surprised at their continued love affair with O when he has indeed done nothing that really helps them.

      • getfitnow

        Cult of personality is part of it, but recently, I’m thinking more and more it really is the nanny state that is the drawing card.

        You have the head of the NAACP now saying blacks are doing worse now. Duh! But, they voted for “free stuff” in droves.

        The exit polls showed that the younger generations of families that have come here to get away from oppressive government, don’t think like their parents and grandparents.

      • MG6

        Here is a good article on the art of Deception…

        http://www.americanthinker.com/2013/02/the_american_appetite_for_deception.html

        Now add in the lack of education (or political illiterate) and/or the want to be given free stuff, you have the willingness to be deceived.

        • DianaLC

          Interesting take on things. Much truth, but very frightening truth.

  • MG6
  • HELENK2

    http://www.cnbc.com/id/100425198

    US treasury ready with extreme measures on debt

  • HELENK2
  • TeakWoodKite

    It is not in him understand much of anything LJ. That much is clear.

  • JJ Birk

    Actually almost the entire drop in GDP in the fourth quarter was because of cuts in military spending (as you quoted article itself says above – some cuts related from withdrawing from wars). Read the detail of the recent GDP report. Financial markets are up on the GDP report. Nobody believes this drop in military spending driving the GDP number down means much. In fact, the rest of the GDP report ex-military spending suggests a stronger and broad-based economic remains and there were positive indicators that suggests stronger GDP growth in 2013.

    Funny, but as LJ wants to cut military spending, so he has to expect it will have an impact on GDP.

    The stock market is near its all time high. That “socialist world” that you say Obama espouses sure has been good for the stock market and corporate profits. We need more of that “socialist world”.

    Federal spending has actually be dropping significantly. The 2013 deficit is now expected to be below $1 trillion, which is a 40% drop from the $1.45 tn that Bush left us in his final 2009 budget year.

    Taxes for most Americans have gone no where, but down under Obama. Current tax revenue per GDP at 15% is the lowest it has been in 60 years.

    We continue to make steady progress in job growth. Unemployment claims last week were at their lowest level since the Great Recession began in 2007.