Obama, Geithner Receive Failing Grades From Economists in Survey, page 1
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Topic started on 12-3-2009 @ 02:28 AM by plumranch

Obama, Geithner Receive Failing Grades From Economists in Survey


www.foxnews.com
President Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey.

On average, they gave the president a mark of 59 out of 100, and although there was a broad range of marks, 42 percent of respondents graded Obama below 60. Geithner fared even worse, with an average grade of 51. Federal Reserve Chairman Ben Bernanke scored better, with an average 71.

"The Obama team has blown it," said David Resler of Nomura Securities.

Some economists were underwhelmed by the $787 billion stimulus package, with 43 percent saying the U.S. will need another stimulus package on the order of nearly $500 billion. Others were skeptical of the need for stimulus. "The package already passed was too much too late,"
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reply posted on 12-3-2009 @ 02:13 PM by plumranch
reply to post by plumranch



The question: Is Obama and his ultra left wing cabinet trying to damage the economy on purpose to further their agenda?



reply posted on 12-3-2009 @ 02:25 PM by leo123
online.wsj.com...

"The economists, many of whom have been continually surprised by the depth of the downturn, also pushed back yet again their forecasts for when a recovery would begin. On average, they expect the downturn to end in October. Last month, they said the bottom would arrive in August."

Maybe these economists should start ranking themselves.


reply posted on 12-3-2009 @ 04:27 PM by plumranch
reply to post by ghaleon12



People need to wake up, he is maintaining the status quo, nothing more nothing less. I'm tired of hearing this on Fox when under Bush, of course they didn't seem to care about the debt he racked up. I'm also tired of hearing about grandchildren.


If you don't care about debt totals you aren't being realistic. Obama/ Pelosi/ Reid are compiling a total debt like 5 times what the TOTAL debt was BEFORE Obama. Obama makes whatever debt Bush and other presidents accumulated look like peanuts!

We have to pay the considerable debt interest. What do we do, borrow more money to pay the interest?

Why go into debt anyway when the consensis generally is that the wild pork spending spree will accomplish very little in economic recovery. The headaches the society will endure from the new ongoing social programs will burden generations to come. Our children need to learn how to PRODUCE not how to live off the government and other people's taxes.


reply posted on 12-3-2009 @ 06:27 PM by plumranch
reply to post by Dr Love



I'm calling Obama and his administration leftist because he is leading us toward socialism like no other president in our memories except perhaps FDR and only our parents or grandparents remember FDR.

The reckless spending of Obama, Pelosi and Reid is the biggest economic issue of our time (other than perhaps the banking practices brought on by CRA). None of this seems to be important enough to be discussed in this light headed society and I think it should be!



reply posted on 12-3-2009 @ 06:58 PM by ghaleon12
This indebtedness has been a trend for a long time, under Obama its pretty bad but its par for the course. Debt shouldn't be tolerated under one president and rejected by another, which is what seemly many people and news networks do. The "wild pork spending" only accounts for less than 2% of the budget. Fox plays people off as dumb. They criticize the millions of dollars spent on "fruit flies" but omit that gene research on fruit flies has given us an incredible amount of knowledge that will have an impact on cancer treatment, gene therapy ect. down the road. The layman automatically reacts, "millions on fruit flies?! Those morons!".

I definitely agree their needs to be a change to the education system. We need to strip away the meaningless crap students learn, which is a vast majority, and teach them essential skills that will make them successful and happy in life - things they won't end up forgetting when the next semester rolls around.


I'm calling Obama and his administration leftist because he is leading us toward socialism like no other president in our memories except perhaps FDR and only our parents or grandparents remember FDR.


It was already going socialist under Bush when the bank bailout passed. Bush even considered bailing out GM towards the end, that's not socialism? The government intervened helping the banks using American taxpayer dollars, hurting the taxpayers, and you expect the taxpayers to not expect equal treatment? You can't bailout these failing enterprises on taxpayer money and not expect a "bailout" for people. Funding these failing companies amounts to socialized debt, socialized profit is what seems to be coming to one degree or the other.

Obama could have passed on socializing the debt, but the outcome of that would have been many times worse than what we're seeing now. He'd been criticized for not bailing out the companies so its a lose-lose.

[edit on 12-3-2009 by ghaleon12]


reply posted on 12-3-2009 @ 08:09 PM by plumranch
reply to post by ghaleon12


I'm not complaining about the bailout of legitimate institutions. It has its pros and cons, as you say even liberal Bush did it or considered it.

What I don't like is the reckless, rediculous pork barrel spending like Reid's silly train to Vegas that practically noone will ride but will cost billions.

IMHO the worst possible thing Obama is doing is starting or continuing social spending for illegals and low incomes. Spending that will accomplish nothing in economic recovery and once started will be difficult to end but will obligate the government to continue ad infinitum.

I see it as spending our last dollar to put us into hopeless debt and obligation for generations. That is the Obama strategy, take us all down economically and make us obligated to the government like good little socialists! It's pathologic.
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