Obama's radicalism is killing the Dow

[Enrique]

they must be feeling relieved lately? :shrug:

http://www.freerepublic.com/focus/f-news/2201186/posts

By MICHAEL J. BOSKIN It's hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.

The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents -- John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance -- President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown.

Mr. Obama's $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society. The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined. It reduces defense spending to a level not sustained since the dangerous days before World War II, while increasing nondefense spending (relative to GDP) to the highest level in U.S. history. And it would raise taxes to historically high levels (again, relative to GDP). And all of this before addressing the impending explosion in Social Security and Medicare costs.

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I sometimes read leftist nonsense and the reasoning is so convuluted. This is clear. I wish some leftists would comment on this.

1 posted on Fri Mar 06 2009 22:51:17 GMT-0500 (Eastern Standard Time) by genghis


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[Hawkeye-X]

1. Then ask RimJob first to let us post without an automatic ban

then we'll talk freely.

Psst, you claim gloom & doom for the stock market.. Did you see what it looks like lately?

[YOY]

2. I so badly want to call them "retarded" these so called "fiscal experts"

So badly...but I actually like the mentally retarded. They're usually sweet and give you great hugs.

[Hawkeye-X]

3. OK. I am taking a shower now..

Anyone want to see? A real decon shower.

Heh.

I made a post in FR. I expect it not to survive.

[Jack Rabbit]

4. Hmmm . . . .

The Dow is up about ten points today at just over 11K. That's well above where it was when Obama was elected in 2008 as the chickens of Reaganomics came home to roost.

I'm not one for using the Dow as a reliable barometer of how well the economy is doing, but if some right wing moron from the Hoover Institute wants to argue against the President's economic policy, he'll need to look elsewhere than the Dow to find supporting evidence.

[Demoiselle]

5. The Dow has been rising consistently, hasn't it?

As you say, it's not the only measuring stick of economic health...but there's certainly been no "sell-off" recently.

[Lochloosa]

6. My 401K is up 48% over the last year. I've recovered everything lost under bush and then some

[old mark]

7. He really must be scaring them - it's over 11000 for the first time

since 2008.

Them capitalists is TERRIFIED!!!!


I guess they don't expect their followers to read anything not RW-idiot approved.



mark

[Still Sensible]

8. Bullshit

More pure right wing claptrap. Looks like all the asshats are going all-in with the GOP-teabagger strategies and tactics. While rational people can disagree over a lot of the policies pursued over the last two years, this hyperbolic overstatement is more of the same garbage that has become the big business, fundamentalists controlled GOP approach since Clinton elected.

Yes, down is up! Let's make people believe that the Wall St. bailouts, the health care compromise that amounts to the biggest boon to big insurance companies in half a century, and the very slow extrication of the armed forces from two wars (which benefits the military industrial complex most), are somehow socialist policies and not the corporate giveaways that the reality based world understands.

The down-is-up and over the top attacks sadly take advantage of a dumbed down electorate, by and large, that has no attention span and no desire to learn about the issues or understand what the political yellers are bitching at each other about.

What Rove figured out is that if you don't care about rationality, if you simply muddy the public discourse with outrageous chatter--supported by the right wing mediasphere--a big portion of the people will simply end up tuning it all out. They'll pick off bunches that don't care about the argument, but will rather latch on to code words like socialism, un-American, freeloaders, tax and spend, and the like. Those code words play to the emotional core all too often, with a lot of people taking sides that play to their racism, classism and and assortment of often organized religion-fed phobias.

[damntexdem]

9. Yeah, the sell-off is so bad that the Dow is over 11,000.

Must be all that selling off. ;-)