Obama goes Herlihy Boy On Jobs Speech

"For the love of God, pass the bill!"

Well despite my claims that I would be doing ANYTHING but watching the president’s big, secret jobs speech last night, I did watch. I had to. I was so sure I KNEW what we’d hear in the president’s long awaited speech that I had to see if I were right. Of course I and all those who expected more of the same from our one trick pony president were accurate in our assumptions however, I could have never guessed the laughable angle the president would be taking to make his tired drivel sound new.

Perhaps it’s my ultra-vivid imagination but after the eighth or tenth instance of hearing the president plead with lawmakers to “pass the bill now”, I half expected Biden to jump up and say, “What’s wrong with you people? For the love of all things holy, pass the boy’s bill now!” For anyone unfamiliar with the reference I’ve posted a link to the original. Watch it and you make the call.

http://www.imdb.com/video/hulu/vi826212377/

Actually, had Biden and Obama done a Farley/Sandler routine it may have played well for the president as it would have been the only new and unexpected aspect of Obama’s typical “Obaminizing”. As was expected by most, Obama’s big plan to FINALLY create jobs and stimulate the economy is in fact Obama’s old plan to create jobs and stimulate the economy. Thirty-three minutes of road construction, calls for the wealthy to “pay their fair share” (which is apparently some unknown percentage of income as opposed to a shared personal responsibility to pay for basic, essential government services), and downplaying the crippling economic effects of the staggering level of new federal regulations enacted to pacify big donors and special interests. For all the pomp and glitz surrounding this jobs plan, it turned out to be as big a waste of time. Broad, generic suggestions largely centered on short-term construction jobs that will eventually end leaving the beneficiaries in the same position they’re in now. The only difference will be that the national debt will likely be pushing $20 trillion the next time the US has to borrow or “create” money to extend their unemployment benefits.

This “big f-ing deal” as Uncle Joe might put it, was a campaign speech detailing the predictable course of things to come and laying the groundwork to make that course possible. Who wouldn’t expect Obama to campaign on his index finger; pointing it at everyone but himself that is?

Obama has absolutely nothing in the way of success to tout going into this campaign; no, not even the killing of Bin Laden. That came about as a result of intelligence gathering going back to the Bush administration. All Obama had to do with anything was making the decision to go or not to go once presented with the intelligence. In my opinion, this executive decision was as much a no brainer as getting up and getting dressed. With this record of failure, the same kind of record Obama promised would lead to him NOT seeking a second term, all the man can do is what he’s always done, play the blame game.

In that respect, this speech is being considered a success by the Whitehouse today. Clearly, they’re sure the American people are still so stupid as to see Obama’s opponents as the villains for refusing to go even further on a proven failed path. This is in fact the platform of Obama’s campaign which started on the “black bus from hell” tour and continued last night. More disingenuous claims of Republicans being “the party of no”, more repulsive claims of domestic terrorism toward the Tea Party, and more insulting statements like, “Well, things could be worse”.

Some have questioned the intelligence of Texas governor Rick Perry in the media recently. It’s funny those kinds of claims can so quickly be made of a governor few knew much about until a few weeks ago. Yet, in the case of a man whose claims over the past two and a half years have so often assumed the ignorance of his audience they see utter genius.  

August 13, 2011: A Day to Remember the Gipper

Thirty years ago tomorrow on August 13, 1981 Ronald Regan signed a set of massive tax cuts in an attempt to resuscitate Jimmy Carter’s failed economic mess. The Economic Recovery Tax Act (ERTA) of 1981 centered on a sweeping 25% reduction in personal marginal tax rates across the board. At the time political pundits were largely in agreement on two points. First, that ERTA would do nothing more than line the pockets of the rich as it was widely believed at the time that the tax rate on top American wage earners would go down while the rest of the nation footed the bill. The second misconception critics agreed on was that ERTA would bring about the total collapse of the nation’s economy. The predictions of doom and gloom were pretty safe claims due to America’s economy teetering precariously close to the edge of collapse at that time. Who could forget the days of the gas lines and the unemployment rate which under Carter peaked at over 10%? All signs were pointing to continued increasingly dark days ahead for the United States. It would have been a safe bet to assume that any radical action, regardless the intent would be enough to send the US over the economic edge. As to the claims that the ERTA was nothing more than a payoff to those nasty rich people, in this particular case for many it was more than just partisan rhetoric. Washington critics at the time with the help of the Congressional Budget Office had cooked up some dismal estimates on the economic effects of the ERTA and the word was out. Unfortunately, the Democrat controlled CBO used a static model of human behavior in their estimates which did not take into account things like increased consumer confidence and encouragement to the wealthy to generate increased taxable income resulting in decreased overall unemployment; All the effects that supporters of cutting taxes have cited as reasons to do so throughout history.

Regan ignored warnings from American “Big Money” and Wall Street tycoons that the cuts were good but excessive. He paid no attention to the masses that called for and predicted his ousting after a single term. Reagan signed the ERTA thirty years ago tomorrow and the effects were dramatic.

In contrast to the CBO and other critics’ claims at the time, the Economic Recovery Tax Act of ’81, additional tax cuts in ’86 and eight consecutive years of reduced federal regulation on American businesses were nothing if not stimulating to the economy.

Under Reagan the private sector created 15 to 20 million new jobs between 1981 and 1988 depending on whose stats you reference. This is a net increase that doesn’t account for the additional five million jobs that were lost through 1982 before the effects of Reagan’s policies could be felt. So technically, the eight year effects of reduced taxes and federal regulation under Reagan actually saw the creation of 20 to 25 million new jobs with some estimate as high as 35 million. The DOW tripled under Reagan moving from an ’82 low of 884 to a ’89 high of 2,509.  Unemployment dropped from an ’82 high of over 9% to 5.5% by 1989. Inflation which was around 11% when Reagan took office dropped to an ’86 low of 2% and had leveled off at about 5% by the time Reagan left office.

Reagan took what many at the time considered drastic steps so as to focus immediate attention to the economic crisis of his time. However, Reagan, being an economics major was well aware of the effects the same types of cuts had produced in the 1920s and in the 1960s. In Reagan’s mind the cuts were not a risk but a no-brainer. The most conservative estimates show federal tax revenue under Reagan increasing by 80% despite the massive tax cuts. Other estimates claim federal revenue as much as tripled under Reagan. Despite critics’ claims that Reagan was simply cutting taxes on the rich, taxes on the top 10% of US wage earners increased due to their generating and spending increased taxable income while taxes on everyone else in the country went down with the poorest Americans seeing a nearly 300% decrease in personal taxes. All this was the result of decreasing federal regulation and taxes across the board resulting in increased consumer confidence and a more business friendly atmosphere that stimulated the economy to the longest period of peacetime economic growth the nation has ever seen. Reagan accomplished this while still investing heavily in defense which resulted in the US spending the USSR into defeat in the Cold War which then made it possible for the defense cuts that led to the Clinton era surplus.

As we start what promises to be another beautiful summer weekend in the greatest nation on Earth, I would encourage the country to consider the “risky” but incredibly effective actions of past American leaders such as Coolidge in the 20s, Kennedy in the 60s and most importantly Ronald Reagan in the 80s. Consider the economic state of the nation and the partisan rhetoric and disinformation at the time and compare all of these facts with the current state of our nation.

It’s time for America to stop playing politics and start learning from the past. It’s time for an American leader more vested in the success of the nation than in securing lifelong friends with payoffs and political favors. The nation misses you President Reagan, and we deeply appreciate not only your service but the fact that you served the nation above yourself while in office. Oh, and I would thank you personally for being an adult and not spending all your time making excuses and blaming your predecessor. I’d likely have no time for politics at this point in my life had I grown up watching a man-child in the Whitehouse making excuses as opposed to a strong leader making beneficial differences.

Obama’s $400 billion fast one blows up in his face.

"Can we get to the part where I get more money already?"

I just watched Speaker Boehner’s response to Obama’s news conference from earlier today following Boehner’s walking away from the debt limit talks. Boehner’s response was about what I had expected having watched Obama’s press conference earlier.

Obama’s frustrated response to the difficulties he’s been facing in relieving more Americans of more of their hard earned money was immensely entertaining to watch. He was clearly agitated and kept me thinking that at any moment he could say something that would shed a little more light on his view of his political opponents. You know another comment of the caliber of his “Bibles and guns” or “typical white woman” comments. Unfortunately that never happened though Obama did once again clearly illustrate his confusion over how our system works as he “ordered” top lawmakers to a meeting with him at 11:00am tomorrow.

It was clear throughout the president’s rant that he was desperate to get his side of the day’s events into the history books. I can’t recall a time when I’ve seen this president act as quickly as he did today. Mere minutes after reports surfaced that Boehner had walked out on the negotiations Obama had scheduled a news conference which started on time about an hour later. Keep in mind; it took this man 4 days to sign the stimulus legislation after warning that failure to pass it would result in the end of the financial world within days. In this case however, Obama’s punctuality and timeliness were in line with what one should expect from a leader. Obama’s sole intent was to get his side of the argument out there quickly and ensure the media’s spin on the situation be that Republicans simply will not agree to anything and he said as much.

At one point Whitehouse correspondent Nora O’Donnell asked the president about an agreement that had allegedly been reached between the Whitehouse and Congress and about claims that the “goal post had been moved” on Republicans at the last minute. Obama denied that he had attempted to modify any agreement and turned the question of trust around on Republicans, implying that they could not be trusted as they are refusing to simply roll over and give Obama what he wants.

The entire press conference seemed a desperate attempt to plant the seeds of Obama’s account of events in the minds of America before the other side was heard. The urgency he displayed in suggesting what the press should report and insisting that the Republicans inexplicably walked away from a better deal than they were originally seeking was a dead give-away that the world would soon hear another account of the day’s events that would stand in stark contrast to the president’s version.

A short time later Speaker John Boehner responded to the president’s earlier attacks and as expected his account was vastly different. Boehner said that indeed an agreement on revenue had been reached but, as Ms. O’Donnell put it, “the goal posts were moved” when yesterday Obama demanded an additional $400 billion in increased taxes. This would have brought the increase to the federal coffers from this deal to $1.2 trillion as both sides agree that the closing of tax loopholes and other action outlined in the agreement would have generated $800 billion. Not a bad chunk of change for a piece of legislation we’re all being led to believe will reduce out of control federal spending. Just imagine the interest the feds will collect on all that extra money just sitting in the bank not being spent.

As I’ve already discussed here: https://somestuffyoushouldknow.wordpress.com/2011/07/01/the-debt-ceiling-non-issue/ as well as here: https://somestuffyoushouldknow.wordpress.com/2011/06/30/obama-the-sky-is-falling-again/ , Democrat and Republican lawmakers have been in agreement for weeks that the debt ceiling must be raised. The only issue holding this entire process up is Obama’s incessant insistence that he receive more and more dollars from the already strapped American tax payers. He has mentioned on more than one occasion that he and people like him could and should be giving more money to the government however, he’s not once mentioned exactly what he intends to spend the additional revenue on or how generating more revenue for the fed to spend has ANYTHING to do with reducing spending which has been his claimed objective since day one. Rather than attempting to once again scare the country into willingly giving up more money, Obama should attempt to be a leader and focus on the issue at hand. He’s still got time to attempt to bilk us out of more of our money after the debt ceiling issue has been addressed. This is textbook “never let a crisis go to waste” governing from an administration that has created crisis after crisis in order to push its agenda of massive government and endless federal spending forward.

Speaker Boehner was asked today during his televised response to Obama’s tirade if he trusted Obama as a negotiator. Mr. Boehner gave a safe response in that he said he did trust Obama as a negotiator.

I submit that based on Obama’s less than upfront approach to Obamacare, the fact that he has used scare tactics each time he’s been forced to make the case to the American public that he needs to spend more of our money and now his inexplicable insistence on getting his hands on more tax dollars under the guise of reducing spending, Obama cannot be trusted as a negotiator.

Of course the fact that he lied directly to Ms. O’Donnell today might imply that he has integrity issues beyond the negotiating table.