Obamanomics will destroy our economy

First let me say this before the Obama zombies come onto the thread and cry about Bush.

I complained about Bush and his massive borrowing and spending. If Bush would have cut taxes and reduced the scope and size of government things would be much better now.

Obama and the Liberals are destroying this economy because they have a twisted view of reality. They actually think that big government and massive spending can support a 13 trillion dollar economy if they just tax the rich. So this government just borrows and spends and the rich will not pay for this the middle class will. You will eventually wipe out the middle class because of massive borrowing and spending by the government.

We are in a global economy and the rich has a million places they can move their money to avoid the greedy, long arm of Obama and the liberals.

For instance, Oprah counts the days she stays in her house in California so she will not be considered a resident and have to pay the heavy taxation in California. Mow Oprah is a billionaire and a big liberal but she doesn't want to pay her "fair share." She should be happy to pay the heavy taxation in California because she's a billionaire. It doesn't work that way and the middle class family has to pay because they can't fly their family out of California to avoid the taxes.

These things are just ridiculous.

Private payrolls rose by 41,000, Labor Department figures showed today, trailing the 180,000 gain forecast by economists. Including government workers, employment rose by 431,000, boosted by a jump in hiring of temporary census workers.

The federal government is now $13 trillion in the red, the Treasury Department reported Wednesday, marking the first time the government has sunk that far into debt and putting a sharp point on the spending debate on Capitol Hill.

Calculated down to the exact penny, the debt totaled $13,050,826,460,886.97 as of Tuesday, leaping nearly $60 billion since Friday, the previous day for which figures were released.

At $13 trillion, that figure has risen by $2.4 trillion in about 500 days since President Obama took office, or an average of $4.9 billion a day. That's almost three times the daily average of $1.7 billion under the previous administration, and led Republicans on Wednesday to place blame squarely at the feet of Mr. Obama and his fellow Democrats.

www.washingtontimes.com...

Again, you can't steal from the rich and "give to the poor."

We are in a global economy and the rich can hire accountants and call their Stockbroker and spread their money around in things like Gold and other emerging markets. This means the Middle Class will be left holding the bag to pay for massive government.

Also, the crooks in Washington will steal from the rich for themselves not the poor. They will waste and spend the money the same way they do with the massive amounts of money they borrow.

We will not survive with Obamanomics in a global economy. European styled socialism is not the answer. This is because there will not be enough people to tax to pay for massive government.

Sadl, this is what Obama and the liberals want. They want massive government because they think they can tax the rich to pay for it.

We are in a global economy and the rich has a million places they can move their money to avoid the greedy, long arm of Obama and the liberals.

We need to RAISE TARIFFS ON IMPORTS. It's the ONLY WAY to bring our economy back...cutting taxes for the rich will DO NOTHING.

They are paying lower taxes than they were under Reagan for cripes sake. The top .1 percent used to pay 91 percent in taxes in the 1950's....back when we had a STRONG MIDDLE CLASS.

And knock of all the garbage about "liberals" destroying the economy. There are actually very few REAL LIBERALS in the Democratic Party....and OBAMA has shown he is NOT one of them.

Regardless....our economy will never improve until our trade policies are changed and virtually NO ONE is trying to do this in our government....BOTH PARTIES.

If you want to gripe about taxes....start bitching about our low tariffs that is destroying the middle class.

Originally posted by Matrix Rising
Obama zombies

Really Matrix? Really? I didn't expect this of you. :shk: Maybe my expectations are all turned around, though.

Originally posted by Matrix Rising
For instance, Oprah counts the days she stays in her house in California so she will not be considered a resident and have to pay the heavy taxation in California.

Do you have a source on this?

Obama and the Liberals are destroying this economy because they have a twisted view of reality.

This economy was already destroyed. You may have a point that what Obama's doing isn't fixing it, but it was already destroyed before Obama and the liberals came along.

[edit on 6/4/2010 by Benevolent Heretic]

Well, I agree with the OP we're ****** for sure.

There are certainly many things Obama could have, and should have, done...and failed to do. Even so, I cannot blame the economy on any single person, even the president (be he Bush, Obama, or whoever will sit in the seat of power next). Its too multivalient an issue...you have the results of lots of extremely poor long-term decisions starting to come home to roost...things that were changed decades ago and are only now beginning to manifest their worst long-term effects. Then you have the baby boomers retiring en masse, which will put disasterous pressure on the economy. Plus the debt situation, which is truly off the hook.

One specific and very damning charge that can be leveled against Obama is that under his watch the debt has leaped at an even greater rate than under Bush. There is no excuse for that. Its horrifying.

wow! oprah counts how many days she isnt home and gets away with not paying some taxes? thats amazing actually! wonder if thats something we all can do!
how would the state she lives in, know if she is home or not? or is this just a special treatment the super rich can have>?

The thing is, this isnt obama's fault. It isnt Bush's fault. The buildup for this has been going on for a VERY long time.

Truth be told, with the way the American system is set up, this is the only way things could go.

reply to post by captaintyinknots


Did you read the OP's original post?

"First let me say this before the Obama zombies come onto the thread and cry about Bush.

I complained about Bush and his massive borrowing and spending. If Bush would have cut taxes and reduced the scope and size of government things would be much better now."

Bush may have started it or even accelled it but Obama is putting the nail in the coffin. Look at the deficit; completely out of control.
Look at today's stock market; down over 300 points because it was realized that May's job growth numbers were completely inflated due to the Gov't hiring thousands of Census creeps.

When Obama was elected I told my Kool Aid drinking Obama loving friends that it is over.. history will look back on this as the tipping point to the end. I saw my friends this past weekend and they are starting to think that I may be right.....

Originally posted by CORN IS NUTS
reply to post by captaintyinknots

 

Did you read the OP's original post?

"First let me say this before the Obama zombies come onto the thread and cry about Bush.

I complained about Bush and his massive borrowing and spending. If Bush would have cut taxes and reduced the scope and size of government things would be much better now."

Bush may have started it or even accelled it but Obama is putting the nail in the coffin. Look at the deficit; completely out of control.
Look at today's stock market; down over 300 points because it was realized that May's job growth numbers were completely inflated due to the Gov't hiring thousands of Census creeps.

When Obama was elected I told my Kool Aid drinking Obama loving friends that it is over.. history will look back on this as the tipping point to the end. I saw my friends this past weekend and they are starting to think that I may be right.....

did you bother to read my post? I'm doubting it.

Not to mention, I couldn't care less if the OP doesnt want people bringing up passed presidents. If someone wants to have an idea of what is going on, they are going to have to look back. I understand it is difficult to think back beyond the last year for most people, but if you want to have even the slightest understanding, you're going to have to try.

I said nothing about bush other than it wasnt his fault. And no, he didnt start it. And no, Obama isnt the reason its getting worse(although, he is part of the reason it isnt getting better)

If you think this is the tipping point all I can say is that you must not have been paying attention for the last 30 years.

ANd that is not even bringing up the fact that if yu think that the president is the primary factor in the economy, you are VERY mistaken.

I blame the bilderburgs* after all, this is aprt of their agenda, using political followers to do their dirty work for them. thier must be a reason afterall, why our leaders jsut simply dont care anymore at all about this beutiful country an its people..cant think of many other reasons, unless corporate america and governemnt are that ruthless and communist about control over us, excluding the bilderburgs*

I graduated from college in the early 80's and until most recently have worked in corporate america in the high tech industry, throughout my career.

As long as I've worked in Corporate America, The overall emphasis has been, to protect the bottom line and to maintain profits.

As engineers throughout my career we were generating profits and were generally safe from layoffs.

But If it meant laying off half the work force, usually beginning with the lesser skilled blue collar workers, in order to maintain profits, then so be it.

So much for job security.

It wasn't liberals who cut these jobs. It was upper level management who are paid to protect the bottom line.

To protect the bottom line for the wealthy investors.

THIS has been going on for as long as I have been working in America and is the core root of the problem as far as jobs and our economy are concerned.

Which is why the Japanese have us beat in quality, and why their auto and electronics industry outsells domestic cars/products as well as to why their auto industry isn't in need of bailouts.

Michael Moore, points this out in his movie "Capitalism, A love Story"
How strong we were economically in the US in the 60's because Germany and Japan were still in ruins from WWII.

Not to make excuses for Obama, but this problem with our overall economy has been in the making for decades.

It isn't an issue that recently began with Obama and his gang of liberals.

It's just that the American public has been oblivious and as usual, in denial, of the changing tide.

Since Obama took office, the national debt has increased at a rate of nearly $5 billion per day. That’s nearly three times the rate during the Bush years. By next year, the national debt is projected to reach nearly 100 percent of U.S. Gross Domestic Product . That’s the highest level since the end of World War II.
We are currently at 88.9% of our GDP. That is absolutely insane!!

Russia is at 7% as of 2009. China 18% in 2009

Is our economy being destroyed?? Ummm... Yes!

The only growth that has occurred in this economy is in the Govt. sector. A sector which has zero effect and only serves to further bleed our nation of every last drop and they haven't even begun to staff up the multi thousands of people needed to run the new Obamacare system yet.

Where does it end??

www.cia.gov...

reply to post by jibeho

We are currently at 88.9% of our GDP. That is absolutely insane!!

ANd not only that....the top 6 banks in our country control 63 percent of our nations GDP.

Too big to fail has only gotten bigger. The senate voted down breaking up the largest banks and Obama did not support breaking them up either.

Financial reform is being watered down big time by corrupted politicians taking money from the financial industry and wall street. IT'S BOTH PARTIES.

It's not just Obama, liberals, democrats, IT'S DAMN NEAR EVERYONE. (Although there are a "few" good guys actually trying to change things for the better, but they are far outnumbered)

If you guys want things fixed, start demanding our trade policies to be changed.

Everything else is nothing but BS that will lead nowhere. We have to enforce anti-trust laws and protect our economy and businesses with tariffs...which would be a huge step in controlling our DEBT without wiping out small businesses and our entire economic system. It would also start putting an end to the endless outsourcing THAT IS STILL HAPPENING.

We also need a divided government.

I don't know why the American people give power to one party. When Bush and the Republicans had power in Washington, they didn't do anything they said they would do. They borrowed and spent like crazy.

It's even worse to give Obama, Pelosi and Reid power in Washington.

A divided government means both parties have to reach to the middle.

The answers are not found in the far left or the far right but in the middle. If the far left runs Washington they are going to push through their far left ideology and same with the far right.

Even if you didn't like Clinton, the good thing about his Presidency is he had to triangulate. He had to reach out to the middle and there's reports Clinton was ready to team up with Newt to tackle Social Security but Lewinsky happened and Clinton had to cling to the left to save himself from impeachment. I made a lot of money during the Clinton years.

This is why I tell everyone I know they need to vote Republican in 2010. We have to have a divided government. If you have to hold your nose, you have to vote Republican.

Obama has to be forced to the middle by a divided government.

reply to post by Matrix Rising


Funny you mention the later Clinton years because that's when I had money to burn during the glorious dot com boom of 1999.

reply to post by jibeho
Clinton enjoyed a booming economy created by the Reagan/GW Bush policies. Typically presidents reap the rewards sown by the prior 4 years. Except when they immediately pour a Trillion dollars into their buddy super-rich bankster pockets like Obama did, or destroy wealth by policy.

When you tax the wealthy (small businesses owners), the wealthy lay off people. Like shooting someone in the foot that's carrying you.

Originally posted by Matrix Rising


If Bush would have cut taxes

You lost me right there. There is no "if" and the only people that got real tax breaks were the top 10% of wealthy Americans the least in need of any tax cuts given our budget constraints in this country.

Originally posted by hawkeye1717

Originally posted by Matrix Rising


If Bush would have cut taxes

You lost me right there. There is no "if" and the only people that got real tax breaks were the top 10% of wealthy Americans the least in need of any tax cuts given our budget constraints in this country.

Well that’s because the top 10% wage earners pay 71% of all the income taxes in the country.
The bottom 50% pay almost no taxes. And with the earned income tax break most get more money back from the Fed than they pay in.
That is called redistribution of wealth from on segment of society to another. Right now the first 3 months of work goes right to uncle Sam. Is that fair?
We can sit around and blame bankers and politicians and that’s fine because they do suck. But there only part of the bigger problem. That is we have way to many people taking from the system and not putting any thing back in return. If we continue down this path the union will collapse under the weight of it’s massive debt funded entitlement society.
www.ntu.org...

[edit on 8-6-2010 by murfdog]