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Obama says GOP making life harder for the jobless

Renae

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WASHINGTON (AP) - President Barack Obama on Saturday pinned blame on Republicans for making life harder for the unemployed and for those who could lose their jobs without new federal intervention. He did so even as he sought to distance himself from the "dreary and familiar politics" of Washington.
Capping a week in which the administration scored a victory - a $20 billion fund to be paid by BP for the victims of the Gulf of Mexico oil spill - Obama reserved his radio and Internet address to focus on the work that didn't get done.
His main concern was the rejection of a bill in the Senate that would have provided more money for the long-term unemployed, aid for strapped state governments and the renewal of popular tax breaks for businesses and individuals.
"If this obstruction continues, unemployed Americans will see their benefits stop," Obama said. "Teachers and firefighters will lose their jobs. Families will pay more for their first home. All we ask for is a simple up or down vote. That's what the American people deserve."
My Way News - Obama says GOP making life harder for the jobless

Gov't is not the answer Barack.
 
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obvious Child

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Redress

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Gotta love political grandstanding with things like unemployment benefits in a time with close to 10 % unemployment. What makes it hilarious is these same republicans who voted against this because of the debt had no problem squandering the near balanced budget Clinton left them.
 

obvious Child

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Gotta love political grandstanding with things like unemployment benefits in a time with close to 10 % unemployment. What makes it hilarious is these same republicans who voted against this because of the debt had no problem squandering the near balanced budget Clinton left them.
Guess which senate minority leader was in office when the GOP was blowing the bank?
Guess which house minority leader was in office when the GOP was blowing the bank?

Funny, I never heard anything about Republicans bashing their Congressional representatives when they shutout the lights on the few deficit hawks that remained.

There's one difference between Democrats and Republicans.

One pretends they hold different beliefs.
 

Renae

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Gotta love political grandstanding with things like unemployment benefits in a time with close to 10 % unemployment. What makes it hilarious is these same republicans who voted against this because of the debt had no problem squandering the near balanced budget Clinton left them.
Have you considered that maybe the policies that you are so fond of, have helped keep Unemployment where it is now... and more Gov't is going to help how?

The more people rely on Gov't to get by, the more the problem will escalate.
 

Redress

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Have you considered that maybe the policies that you are so fond of, have helped keep Unemployment where it is now... and more Gov't is going to help how?

The more people rely on Gov't to get by, the more the problem will escalate.
It's unlikely.
 

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The fact is, if Obama cared for the jobless at all, he'd actually put them on the top of his agenda. Yet, of course, first came banks, then an ad hoc insufficient stimulus that was largely ineffective, then healthcare, healthcare, healthcare... healthcare healthcare healthcare... jobs... healthcare healthcare healthcare.

He's a buffoon if he thinks anyone is buying his "oh, I actually care about the poor. It's those other out of touch richies who don't."
 

obvious Child

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It's unlikely.
I'd love to see an explanation of how stabilization of credit markets, the prevention of fire sales of financial assets, the reduction of the TED rate to normal levels, resumption of normal money velocity, tax cuts, bonus depreciation and other incentives to invest made things worse.

But what do I know? I work in the financial related industry. Let's just ask those with no actual knowledge beyond what they get from Fox.
 

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It's unlikely.
That you would stop to think that massive Gov't expansion is hurting the free market and keep unemployment high? Yes, I suppose one like you wouldn't stop to consider that.
 

Renae

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I'd love to see an explanation of how stabilization of credit markets, the prevention of fire sales of financial assets, the reduction of the TED rate to normal levels, resumption of normal money velocity, tax cuts, bonus depreciation and other incentives to invest made things worse.

But what do I know? I work in the financial related industry. Let's just ask those with no actual knowledge beyond what they get from Fox.
Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go. :roll:
 

Redress

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Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go. :roll:
Because you say they are?
 

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I'd love to see an explanation of how stabilization of credit markets, the prevention of fire sales of financial assets, the reduction of the TED rate to normal levels, resumption of normal money velocity, tax cuts, bonus depreciation and other incentives to invest made things worse.

But what do I know? I work in the financial related industry. Let's just ask those with no actual knowledge beyond what they get from Fox.
Being part of the financial industry can mean anything from a bank teller to the CEO of Citi, so broad that is seems meaningless.

What exactly did Obama do to stabilize the credit markets? Not sure if you are close on money velocity either. If velocity was normal then we would be worrying about inflation which we are not.

Tax cuts were one time hand outs, not sure people agree this helped in relation to it's cost. Bonus depreciation helps little with the slack we have in factory utilization.

Not saying that these things did not help at all. I am saying that there is room for disputing whether we got value for the $ 800 billion.
 

obvious Child

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Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go. :roll:
I'll be nice and let you off with one:

Okay, tell me how stabalizing the credit markets made things worse. Go!
 

obvious Child

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Being part of the financial industry can mean anything from a bank teller to the CEO of Citi, so broad that is seems meaningless.
Go search my posts.

What exactly did Obama do to stabilize the credit markets? Not sure if you are close on money velocity either. If velocity was normal then we would be worrying about inflation which we are not.
Honestly, it was more Ben then Obama. Fiscal policy generally is too slow. And money velocity now isn't near one, but it's better then what it was before.

Tax cuts were one time hand outs, not sure people agree this helped in relation to it's cost.
The tax cuts I believe did help many people make it through the short run, especially as it went to paying bills. That alone is beneficial.

Bonus depreciation helps little with the slack we have in factory utilization.
Sorta. Bonus depreciation simply moves demand from period 2 into period 1. By itself it cannot do much, but it in theory acts as a jump start. There is a difference though between Bush's and Obama's. Bush's was during an era where corporations were literally sitting on mountains of money. Quite literally mountains. Not so much the case today. Especially when many states don't allow bonus like they did in 2002. Quite literally the same text, but different environmental conditions. But it likely did help some.

Not saying that these things did not help at all. I am saying that there is room for disputing whether we got value for the $ 800 billion.
Of course. But I think you as much as I know that there are few good, if any good tools for dealing with financial crisises, especially the liquidity related ones. Some people seem to think that all recessions are the same and all can be treated the same.
 

texmaster

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Go search my posts.
Ugh don't be that guy. Dont ask someone to search your posts for something you can say straight away about you personally, just say it.

Its exceedingly arrogant and unnecessary.
 
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washunut

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Go search my posts.










Sorta. Bonus depreciation simply moves demand from period 2 into period 1. By itself it cannot do much, but it in theory acts as a jump start. There is a difference though between Bush's and Obama's. Bush's was during an era where corporations were literally sitting on mountains of money. Quite literally mountains. Not so much the case today. Especially when many states don't allow bonus like they did in 2002. Quite literally the same text, but different environmental conditions. But it likely did help some.
As you know corporations are sitting on record amounts of cash even now.


Of course. But I think you as much as I know that there are few good, if any good tools for dealing with financial crisises, especially the liquidity related ones. Some people seem to think that all recessions are the same and all can be treated the same.
I agree that is why I think spending the $800 billion, that we have to borrow was more an act of politicians saying we are doing something rather than something that had a lot of benefit to the economy. That money could have been used for stuff like high speed rails r&d for clean energy. Stuff that would have been helpful long term and a bit of a boost short term.
 

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Originally Posted by MrVicchio
Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go.
Because you say they are?
Because you say they are?
There was a recent study out of Harvard that showed that when public spending was increased, it ended up forcing out private investment, hiring and spending.

Stimulus Surprise: Companies Retrench When Government Spends — HBS Working Knowledge
 
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Ockham

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Because you say they are?
It's true anecdotally in my family. My cousin who used to work as a teacher and at an art gallery now is unemployed and continues to be unemployed voluntarily. They stated to me that she makes just as much on unemployment as she does working so why work? Her husband continues to work - she collects and will continue to collect as long as the government will allow it.

As long as the government will pay you not to find another job, and will extend those benefits - why bother?
 

digsbe

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In Obama's mind what isn't the GOP responsible for? This is just another hack political comment made by the president.
 

Renae

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I'll be nice and let you off with one:

Okay, tell me how stabalizing the credit markets made things worse. Go!
Method used high US Debt, Gov't control and heading down the road, the raised expectation that if things go south the Gov't will "Just bail us out". Like I said, short term save, long term fail.
 

Deuce

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Well, we could always try Reagan's plan. Cut taxes some more and simultaneously raise spending through the roof. That was pretty good for us in the long term!
 

apdst

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He says this, after he put a have million plus people on the road to unemployment with his drilling moratorium. If anyone is making life harder for the jobless, it's Obama. He still hasn't figured out that government can't create job, nor can government create wealth. To top it all off, he just flushed billions of revenue dollars down the toilet.
 

Aunt Spiker

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I think the 'always say no' is childish and immature - it's NOT leadership.
I think that filibusters are also childish and immature - and are NOT leadership - note how BOTH sides are quite guilty of this.
I think that continuing to pass bills, amend legislature which raise costs, spike taxes and fluff up our already overpuffed debt is childish and immature - note how the government is addicted to this type of activity.
I also think that denying assistance from other countries while we're in need is childish and immature.
I think that continuing a war that said president spoke against is childish and immature.
I, lastly, think that trying to blame every single action, issue and problem on the former president is childish and immature.

Do I need to go on, do you get my point?

This is why I don't support either party - they're all about pointing fingers at everyone else even though, between the two, they both are to equally blame for all of our problems.
 
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