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Did Obama contribute to the current US economic or employmnt crisis?

pbrauer said:
Nothing, the recession started in 2008 before Obama was elected. Two million private sector jobs were lost between election day and inauguration day.
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Thank Nasty Pelosi and DIngy Harry
 
Morality Games said:
That doesn't undervalue the importance these institutions have in America's current economic establishment relative to rival economies, and it doesn't say anything about Obama. It just means the situation is more hopeless than previously thought.
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With all due respect, there was very little consideration before the stimulus or the bail out. It was "we need to do this NOW", and as a result nobody thought to say, "hey, let's look at some projections first". And how we have three large institutions floundering after receiving billions in loans and bailouts and the american people are holding their breath....again. The businesses screwed up, but those bills were done wrong from the start, too.
 
Bob Blaylock said:
Certainly, all the billions of dollars that he squandered on fraudulent, wasteful “bailouts” and “stimuli” scams, driving this nation deeper into debt at a rate never before seen, had to have contributed significantly to the current economic mess.
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The debt isn't what's causing the economic woes. You realize much of the stimulus was made up of tax cuts and incentives for small business right? If tax cuts aren't spending then what's the problem? Most of the rest was made up of infrastructure projects, which created jobs.

I would argue that the stimulus was far too small for the enormity of the situation.

In electing Obama to the White House in 2008, and at the same time handing Congress over to the Democrats, we basically handed the nation's checkbook and credit cards over to a gang of unruly, irresponsible, out-of-control teenagers. We can only hope that in 2012, we'll let grown-ups retake control of these things.
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I'm sure that will go over well...
 
yes, Obama contributed.

not to the extent the Tea party sells, or his supporters deny, but yes, he contributed.
 
I would argue that Clinton had his hand in it as well.
 
tessaesque said:
With all due respect, there was very little consideration before the stimulus or the bail out. It was "we need to do this NOW", and as a result nobody thought to say, "hey, let's look at some projections first". And how we have three large institutions floundering after receiving billions in loans and bailouts and the american people are holding their breath....again. The businesses screwed up, but those bills were done wrong from the start, too.
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Those businesses are failing because they run off money the American people don't have, and indeed, haven't had for a long time. Our middle class operated on credit, and now, not even that anymore, as credit companies become unwilling to take potentially unprofitable customers and Americans lose their faith in their own ability to make payments.

All you can do is give them more money to keep them afloat in the hopes something will happen to improve the situation.

Projections don't really matter, because the issue isn't that complicated. Businesses are used to making a certain income based on their operating size, people are no longer able to provide that income, so the businesses verge on implosion, taking with them the capability of our nation's economy to compete effectively with rival financial institutions.
 
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Morality Games said:
That doesn't undervalue the importance these institutions have in America's current economic establishment relative to rival economies, and it doesn't say anything about Obama. It just means the situation is more hopeless than previously thought.
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It wasn't nearly this hopeless before he took office.
 
Bob Blaylock said:
Certainly, all the billions of dollars that he squandered on fraudulent, wasteful “bailouts” and “stimuli” scams, driving this nation deeper into debt at a rate never before seen, had to have contributed significantly to the current economic mess.

Ok, Lets see, I'm 50 years old I was born in 1961. In 1980 is when I really got into politics, Reagan was President I voted for him the first time I voted. I voted for him the second time he ran. Reaganomics (trickle down economics), {fact: water flows down hill, money flows up hill. What happen to all the money that was suppose to trickle down? I worked my azz off in the 80's just to make a living. I voted for Bush 1 and Bush lite (GW), one time in there I voted for Ross Pero (what ever happen to that little crazy fellow). And of course we can't forget awesome Bill from the Ozark's, I may have voted for him one time. I also voted for John The Man McCain. I've been driving a truck from 1988, so I have a career, I'm not some lazy azz laying on my azz waiting for a hand out form the Goverment, just a hand up!!!! I added it up It would take me 6 or7 years to make $250,000, working my azz off. Alright lets add it up 8 years of Reagan, 8 years of Bush 1,(who do think started the war that lead to the 911 attack) that's right Bush 1. why do you think Clinton didn't get bombed and when Bush Lite went in They got his Pappy back for that, 8 years of Clinton, 8 years of Bush lite ( what happen to the billions of dollars Bush Lite Gave to the banks. Where is that money at. OK we got 24 years of Republicas in the White House, 8 years with Awesome Bill. So now That I have express my opinion now I'll give you my answer But it is not no, But HELL NO!!!!!!
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Bardo said:
The debt isn't what's causing the economic woes. You realize much of the stimulus was made up of tax cuts and incentives for small business right? If tax cuts aren't spending then what's the problem? Most of the rest was made up of infrastructure projects, which created jobs.

I would argue that the stimulus was far too small for the enormity of the situation.



I'm sure that will go over well...
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Dude, even OBAMA admitted that his plan didn't create jobs.
 
tessaesque said:
How'd that bailout go for Bank of America, Freddie Mac, Fannie Mae?? They're all still limping along, and BofA is in big, big trouble.
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But Have they paid any of it back, they sent it on partys and vacations, but I guess it makes you really tired when you have that much sex with the Goverment.
 
tessaesque said:
Dude, even OBAMA admitted that his plan didn't create jobs.
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We have got to get some money back in the in the people hands that spend it not the ones try to save ever penny they make. Just like B-Rock said it is time for the rich to put some money back in this country and quit sending all of our jobs and money over seas. This country made them rich, but they don't owe it any thing back. The rich hordors of money are killing this country.
 
dumbasdirt said:
We have got to get some money back in the in the people hands that spend it not the ones try to save ever penny they make. Just like B-Rock said it is time for the rich to put some money back in this country and quit sending all of our jobs and money over seas. This country made them rich, but they don't owe it any thing back. The rich hordors of money are killing this country.
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Jobs go overseas because people want cheap product. Go ahead and open a shirt factory here. Make shirts and sell them at 30% profit. You will go out of business because your cost of production will outweigh every internet company and foreign manufacturer you're competing against. American labor is too expensive and the American people are too cheap to make broad-ranging American manufacturing work. It isn't just about businesses being cheap and trying to screw the country over. This is more complex than some easy-out, blame big business, the rich hate us nonsense.
 
tessaesque said:
Jobs go overseas because people want cheap product. Go ahead and open a shirt factory here. Make shirts and sell them at 30% profit. You will go out of business because your cost of production will outweigh every internet company and foreign manufacturer you're competing against. American labor is too expensive and the American people are too cheap to make broad-ranging American manufacturing work. It isn't just about businesses being cheap and trying to screw the country over. This is more complex than some easy-out, blame big business, the rich hate us nonsense.
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i think the solution is pretty easy. put a tariff on all goods made overseas. rewards businesses for manufacturing here in the good ole us of a. i try to buy american whenever possible, and if others did as well they would find what i've found......many, many times the goods produced here are cheaper than the goods produced in china or india. oh, and let's boycott the businesses who outsource their call centers.
 
Bardo said:
I would argue that Clinton had his hand in it as well.
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I disagree here. Clinton turned the gov't over to GWScumForBrains with a viable plan to turn a surplus and start paying down our National Debt. Senor Simpleton started two wars on the credit card, initiated huge tax cuts for the wealthy, and nearly sunk the ship of state. Obama has been trapped in a damage control mode ever since being elected. Trapped by a fiat money system run amok. Trapped in two inherited wars. Trapped by bad mortgages imitating real paper. Always just one step ahead of a cataclysmic financial crash with the only solution to print more paper and sell it to China as a loan or borrow from the Federal Reserve and call it Quantitative Easing. There is another loan coming up because we are still running a $1.5 trillion deficit. If he stops spending the economy needs a coroner, so what are his alternatives. Trapped! I'm not voting for him. Green or Ron Paul even if it is a wasted vote. But recognize this reality, Republicans, led by GWSpongeForBrains caused this problem. The shame is that they won't admit it and that makes them all look pretty damn ignorant. By not admitting it they give tacit approval of the policies that caused the problem. A dumb and dumber moment, don't you think?
 
tessaesque said:
Jobs go overseas because people want cheap product. Go ahead and open a shirt factory here. Make shirts and sell them at 30% profit. You will go out of business because your cost of production will outweigh every internet company and foreign manufacturer you're competing against. American labor is too expensive and the American people are too cheap to make broad-ranging American manufacturing work. It isn't just about businesses being cheap and trying to screw the country over. This is more complex than some easy-out, blame big business, the rich hate us nonsense.
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Your math makes no sesne, their still making 30% profit. Cause they alway get the cost of the wiget and then add the profit. I don't think I have never said I hated the rich. I said it was time for the ones that this country made rich to put something back in it. and in my eyes if you don't love this country enogh to help it out when it is in need you have on business living in it.
 
liblady said:
i think the solution is pretty easy. put a tariff on all goods made overseas. rewards businesses for manufacturing here in the good ole us of a. i try to buy american whenever possible, and if others did as well they would find what i've found......many, many times the goods produced here are cheaper than the goods produced in china or india. oh, and let's boycott the businesses who outsource their call centers.
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the problem with the adding tariffs is that we have trade agreements in place and you could end up doing more harm than good if you start breaking those and the countries respond in kind.
 
Tucker Case said:
You have to sell the widgets first.
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You have to pay your worker so they can buy your widgets. But you think only of yourself, this is my company, I worked hard to build it right by myself. The workers of my company didn't have any thing to do with it. If this is the way you are thinking you need to think some more.
 
I think things start going downhill under the first neo-con - Reagan - and we are where we are because of three things:
* GOP Neo-cons (Reagan, GHWB & GWB) cut taxes on the wealthy and made up the difference by borrowing the money
* Both parties failed to protect domestic service & manufacturing jobs and to stem the tide of ever-increasing imports
* GOP neo-con GWB passed a comprehensive bill which mandated the bailing out of banks and corporations. Obama let those fade away rather than renew them.

As for Obama's part in the mess - he failed to use the period when he had a Democratic Congress to undo the mess GWB left behind, has been ineffective as a leader and is moving far too slowly with measures to create jobs.
 
dumbasdirt said:
You have to pay your worker so they can buy your widgets.
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It'd be a piss poor company if the only people they expect to sell to are their own employees. I'd say it'd be doomed to failure.

But you think only of yourself, this is my company, I worked hard to build it right by myself.
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The company I ran was a construction company. I was also the foreman of my crew, along with all the other duties I handled off site.

If this is the way you are thinking you need to think some more.
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:lol: I can tell from your well-thought out, completely rational posts that you spend a lot of time thinking. Hey, I give you credit. I usually stop doing things when I'm really bad at them, not do more of it.
 
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Tucker Case said:
It'd be a piss poor company if the only people they expect to sell to are their own employees. I'd say it'd be doomed to failure.

{All companys sell widgets, The important thing is that all the empolyees have the money to buy your widget and other widgets from other companys for the machine to work}



The company I ran was a construction company. I was also the foreman of my crew, along with all the other duties I handled off site.

{That is really sad. Are you just and empolyee Of the company or do you own the company or do you run the company. I mean if you run a company, your over all the crews. And if you are just an empolyee then your on the wrong side of this arguement.]



:lol: I can tell from your well-thought out, completely rational posts that you spend a lot of time thinking. Hey, I give you credit. I usually stop doing things when I'm really bad at them, not do more of it.
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so looks like you need some more time to think about it. Put that in your pipe and smoke it.
 
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Obama didn't start it, but he defiantly didn't make it better. While he had the right intentions with Social security and National Healthcare (both of which can work with the strong economy you guys have,) just trying to implement
them while there is no money to spend because your trying to pull the economy out of the toilet is a bad idea. I am a socialist but $14 trillion in debt is excessive spending, even for a socialist. If he had focused on fixing the economy and then had tried to implement Obamacare and SSC, it would have worked out. But no, he tried to rush it in one term.
 
scourge99 said:
Listening to the Tea Party debate i heard non-stop accusations that its Obama's fault for the US's current economic and job problems. What SPECIFICALLY has Obama done to cause or to contribute to the current economic and job crisis, if anything?
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Recovery Stalled after Obamacare Passed

...Private-sector job creation initially recovered from the recession at a normal rate, leading to predictions last year of a “Recovery Summer.” Since April 2010, however, net private-sector job creation has stalled. Within two months of the passage of Obamacare, the job market stopped improving. This suggests that businesses are not exaggerating when they tell pollsters that the new health care law is holding back hiring. The law significantly raises business costs and creates considerable uncertainty about the future...
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New Report Cites "Regulatory Tsunami" Under Obama

...The report says the Obama administration has "imposed 75 new major regulations costing more than $380 billion over ten years." In addition, the report says there are 219 more "economically significant regulations" in the works which will cost businesses $100 million or more each year -- for a minimum cost of $21 billion over ten years. The number of pages in the Federal Register, in which such rules are recorded, is increasing rapidly, the report says, and "pages devoted to final rules rose by 20 percent between 2009 and 2010, and proposed rules have increased from 2,044 in 2009 to 2,439 in 2010."...
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Stimulus Saved Government Jobs, But Killed Private Sector Jobs

...Economists Tim Conley and Bill Dupor took a detailed look at the Obama administration’s now-infamous stimulus bill and concluded that the thing may have supported jobs in government, but it actually killed jobs or “forstalled” their creation in the private sector... As Conley and Dupor wrote: “Our benchmark point estimates suggest that the ARRA [stimulus bill] created/saved approximately 450 thousand state and local government jobs and destroyed/forestalled roughly one million private sector jobs...
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on top of that add uncertainty - which is a killer. nobody knows what their tax rate is going to be, what their regulatory burden is going to look like, or how much it's going to cost to have an employee in two years - why in the world would they be hiring?
 
Frolicking Dinosaurs said:
I think things start going downhill under the first neo-con - Reagan - and we are where we are because of three things:
* GOP Neo-cons (Reagan, GHWB & GWB) cut taxes on the wealthy and made up the difference by borrowing the money
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mind you, government revenues actually climbed after those tax cuts... but hey, don't bother us with facts!

Both parties failed to protect domestic service & manufacturing jobs and to stem the tide of ever-increasing imports
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which is why unemployment shot up so high after NAFTA passed, right?

GOP neo-con GWB passed a comprehensive bill which mandated the bailing out of banks and corporations.
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a very unconservative thing of him to do.

Obama let those fade away rather than renew them.
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what? Obama has doubled down on those.
 
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