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Thread: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

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    Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    President Obama called Monday for a "full-scale attack" to revive the struggling economy as Congress returns from recess with lawmakers fixated on the November election.

    The president, after meeting with his economic team, said the administration is "hard at work" trying to find new ways to promote economic growth. Though the election is on the horizon, he urged Congress to urgently pass a small business lending bill and blamed Republicans for stonewalling the package.

    "We have to do more," Obama said. "Holding this bill hostage is directly detrimental to our economic growth. I ask Senate Republicans to drop the blockade."

    Senate Republican Leader Mitch McConnell countered that the bill would result in tax increases and that the administration's policies simply aren't working.
    FOXNews.com - Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Mr. President, the truth is that your belief that Congress can revive the economy through Gov't programs and spending is misguided and detrimental to the country.

    The fastest way to rebound the economy, is to get out of the way sir. That means sweeping tax cuts to spur growth, repealing Obamacare, shelving "Cap and Trade", stopping the EPA's power grab to control CO2... basically it means abandoning most everything your Administration has promoted to this point. Because the economic uncertainty your policies have induced, business cannot grow.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by MrVicchio View Post
    FOXNews.com - Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Mr. President, the truth is that your belief that Congress can revive the economy through Gov't programs and spending is misguided and detrimental to the country.

    The fastest way to rebound the economy, is to get out of the way sir. That means sweeping tax cuts to spur growth, repealing Obamacare, shelving "Cap and Trade", stopping the EPA's power grab to control CO2... basically it means abandoning most everything your Administration has promoted to this point. Because the economic uncertainty your policies have induced, business cannot grow.
    I have nothing to add to that. Well said sir.

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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    I agree with the op. Everything about this President and his party are currently hurting the economy. The uncertainty about what will happen with the Bush tax cuts expiring, is keeping business's from possible hiring, the huge costs small business will absorb do to this health care bill is stunting growth, not to mention the projected 10 trillion in new debt over the next ten years is making it next to impossible to sell our treasury securities on the open market, which is how we've been financing all this deficit spending, and now has the fed now printing money out of thin air just to purchase our own debt, anyone who believes these are positive economic steps, I just don't understand.

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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by MrVicchio View Post
    That means sweeping tax cuts to spur growth
    Can you actually provide evidence that Bush's tax cuts spurred growth and created a significant number of jobs?

    Policy decisions should be based on evidence, and if his tax cuts don't work, then extending them seems rather arbitrary. Obama already wants to give taxcuts to the bottom 95% of Americans, so please provide some evidence that adding taxcuts to the top 5% would be worth the extra hundreds of billions that it would add to the federal deficit.

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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by CriticalThought View Post
    Can you actually provide evidence that Bush's tax cuts spurred growth and created a significant number of jobs?

    Policy decisions should be based on evidence, and if his tax cuts don't work, then extending them seems rather arbitrary. Obama already wants to give taxcuts to the bottom 95% of Americans, so please provide some evidence that adding taxcuts to the top 5% would be worth the extra hundreds of billions that it would add to the federal deficit.
    Please show where Obama's policies are working and why we should continue down that path?
    I hope the Rep. are able to hold the bill "hostage" against Obama's wishes.
    Please get out of the way Mr. President.
    Catawa is my favorite bleeding heart liberal.
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Roosevelt essentially spent our way out of the Great Depression. But this time, we have a problem - We don't have any money left to do this.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Either way - though drones (play on "full scale attack") or printing more money --- we **** out of luck here.

    Time to shut down the government - send these clowns home and let the market fix this. Unless of course, we can just print more worthless money ...
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by danarhea View Post
    Roosevelt essentially spent our way out of the Great Depression. But this time, we have a problem - We don't have any money left to do this.
    Sure we do, but those holding it don't want to lose control of it.
    Wall Street has trillions of OUR money tied up in low interest bearing IRA and 401K accounts.
    When Obama lowers the tax rate on withdrawals from those accounts, you will see a lot of spending. Retirees are not all poor, or starving, or struggling. Many of us (me included) have more money tied up in those accounts than we need. But we aren't going to pay 25% or higher in taxes to save a few thousand bucks on cars we don't need.
    As soon as congress gives retirees the same tax rate as Warren Buffet, 15%, you will see a lot of withdrawals, and that is the last thing that the financial district wants....
    Oracle of Utah
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by danarhea View Post
    Roosevelt essentially spent our way out of the Great Depression. But this time, we have a problem - We don't have any money left to do this.
    World War II got us out of the depression, that is what put the men to work in the Army, and the woman to work in the factories. FDR did little to revive the economy, what he did do was create the welfare state culture that has us in this hole today.

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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by danarhea View Post
    Roosevelt essentially spent our way out of the Great Depression. But this time, we have a problem - We don't have any money left to do this.
    Well said. And right on the money. (as it were)

    But, we sorta do have the money... and by 'we' I mean the tax-payers and corporations. The rich have continued to get rich, invest and spend. Hedge funds continue to grow. But, alas, no jobs. Why? No growth. So, flooding the markets with investment capitol does not automatically spur growth in all sectors and industries. The mentality has changed too much; quick returns, get in-get out.

    Trusting wall street to fix the economy?? Just say it out loud, Vicchio and others.

    I think the rollback to Clinton era tax rates is too modest. And the market does not self-correct when left alone, it gets raped and pillaged by those looking to make a quick billion and get out. Then we got stuck with the bill.

    We have to prepare ourselves for a decade of limited growth in many areas. People need to tighten their belts, pay off massive credit card debt. We, as a country lived beyond our means, and those at the top benefitted the most by gambling with our pensions and 401ks. Time for the chickens to come home to roost. Rollback to 40% capitol gains.

    This idea that hedge funds benifit us all because they keep the entire economy rolling is bull****. Don't kid yourself, they benefit only a small handful of people-- Funny, they didn't exist in the 50s - 60's and are economy grew just fine. Time to let the hot air out of the greed bubble and bring things back down to earth.

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