Posted by The Taint on 9/14/2012 11:51:00 PM (view original):
A friend of mines Facebook Post...if anyone wants to refute anything here, lets have a dialogue:
1. Eight years of President G.W. Bush's failed 'trickle-down' economics, borrowing to pay for two wars, with no regulations on Wall Street... results in a market crash not seen since the Great Depression! The seeds for the crash happened long before what we all felt... Beginning in late September 2008, and hitting a peak in mid 2009, after President Obama took office. By this point we were losing 750,000 jobs a month, and the stock values fell to more than half of their original value!
2. If everyone remembers gas prices WERE just as high as they were now, but then also fell by half due to the economic crash, in mid 1Q 2009. What a bunch of comedians! So President Obama takes the oath on January 20th, and he is immediately responsible for an economy that is spinning out of control through early 2Q 2009!
3. Data being used is so selective! Pick a point in time just before President Obama takes over, and long before Obama's recovery plan (which didn't go into effect until second half of 2009) could have any impact! (late 2009). I also find it hilarious that when the GOP looks at the good times of President Reagan, they always credit him, and not the Democratic Congress, but when President Bush screws up the economy, by destroying the surplus President Clinton left him by creating tax cuts for the wealthy and starting two wars with a GOP Congress for the first six years, that the Democrats in Congress who take over in the last two years of his administration get blamed for his failed leadership!
4. So let's talk facts. Since President Obama took over, the stock market has more than doubled. Stock values and folks 401K and retirement plans are all over twice the value of where they were... Even higher than before the market crash!
I. In 2010, as the President’s recovery program kicked in, the Bush policy job losses which had reached 750,000 per month in 1Q 2009 (as Obama took office) stopped and things began to turn around. The recovery act saved or created millions of jobs and cut taxes for 95 percent of the American people. Over the past two and half years our economy has produced more than 4 1/2 million private sector jobs, and this is projected to reach 5 million by election time. More than 500,000 manufacturing jobs have been created under President Obama. That’s the first time manufacturing jobs have increased since the 1990s. The auto industry restructuring worked. It saved more than a million jobs, and not just at GM, Chrysler and their dealerships but in auto parts manufacturing all over the country. That’s why even the automakers who weren’t part of the deal supported it. They needed to save those parts suppliers too. And there are now 250,000 more people working in the auto industry than on the day the companies were restructured, with virtually all the debt repaid. Know what Gov. Romney said at the time President Obama was pushing for the auto bailout? "Let Detroit Go Bankrupt". In fact, the President also brokered the deal that partnered Fiat with Chrysler... Saving that auto company too! This shows that he also believes that government is not always the best answer. In the case of GM, there was no other option (notice that Bain Capital didnt step up to help save either company). President Obama showed leadership that Gov. Romney would not have had the guts to do.
Ii. So what was (and still is) on the table to control the debt? Examining President Obama's proposed plan (that was rejected by Conservatives like Rep. Paul Ryan and Sen. Mitch McConnell - whose stated goal is to limit President Obama to one term vs. helping him turn around the economy) of $4 trillion in debt reduction over a decade, for every $2 1/2 trillion in spending cuts, he would raise a dollar in new revenues — 2 1/2-to-1. And the proposals guaranteed tight controls on future spending. This plan was similar in spirit to Simpson-Bowles. Unfortunatle the GOP Congressional tea partiers would not agree to ANY revenue growth; and the Congressional Dems were arguing about the SIZE of the spending cuts.
Iii. I also find it amazing how President Obama gets the blame for the debt accumulated by executing two wars over the past decade! President Bush created the unnecessary war with Iraq; Obama got us out. Obama stepped it up in Afghanistan and Pakistan based on advice from his Generals. Gov. Romney called President Obama's strategy "naive". And then we got Bin Laden in Pakistan. This was not luck... it took planning and courage to make the call. Not through drone attacks, but via a Navy SEAL led raid. Again, the guts and leadership of President Obama to pull this off. Carter, Clinton, Bush all failed in similar attempts. And the information gained from that raid has led to the capture and killing of numerous other al Quaeda leaders since. And at the time, Gov. Romney said that "we should not move heaven and earth to get one man". And now we are getting out of Afghanistan, against criticisms from the good Governor, who wants to also take on Iran. Where is that money going to come from? Absolutely zero leadership demonstrated by Gov. Romney once again.
Iv. A) The GOP's claim that trickle-down works is only mildly interesting. President Clinton demonstrated, this via data the other night. As he said, "Since 1961 - for 52 years now, the Republicans have held the White House 28 years, the Democrats, 24. In those 52 years, our private economy has produced 66 million private sector jobs. So what’s the job score? Republicans and trickle-down economics: 24 million; Democrats and Keynesian economics: 42 million." As he continued so masterfully, "there’s a reason for this. It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics. Why? Because poverty, discrimination and ignorance restrict growth. When you stifle human potential, when you don’t invest in new ideas, it doesn’t just cut off the people who are affected; it hurts us all. We know that investments in education and infrastructure and scientific and technological research increase growth. They increase good jobs, and they create new wealth for all the rest of us"
B) President Clinton was so effective the other night... That's why we are now seeing all of these hastily generated figures to justify the failure of the prior GOP administration. Clinton was the first speaker at any convention to actually use data to support his claims... and now GOPers are going crazy because I am supposed to believe that through some voodoo of $5M in tax cuts for wealthy, $2M in increased defense spending and no defined cuts to any social programs, that Gov. Romney will create 12M jobs and balance the budget! Talk about rosy assumptions. As President Clinton answered the question in how he balanced the budget? Arithmetic! It doesn't add up (unless Romney removes all our 'loophole' tax deductions like home mortgage etc.). But of course he won't say this because he would lose if he did! Clinton is right. The GOP may not like the data, but it was truly factual.
V. Case closed. Gov. Romney would be a disaster if elected. The GOP left President Obama a total mess. Now they are saying that he has not fixed the economy fast enough and that we should fire him and put them back in charge. No way. The future of my kids is too important to take that chance again. President Obama has a long term view and a strategy to match. He has my 100% support this November!
I am not wasting my time reading this whole thing when in the very first sentence this retard claims that under Bush there were no regulations on Wall Street.
FAIL.
Update: I read the whole thing. ******* hysterical. The 401k claim is probably the most funny. The saving the auto industry one is pretty good as well. If Chrysler and GM had filed bankruptcy under normal bankruptcy rules, they would have ended up pretty much as they are now, except for one thing: the UAW would not have gotten the sweet heart deal they got, and secured creditors would not have gotten shafted. Oh, and the job numbers saved/jobs created re the auto companies is complete and utter fantasy. It pretty much assumes if there was no auto bailout, then the companies would have gone completely belly up, along with all of the parts suppliers, even though those same suppliers work for other companies. Glad all this guy has done is listened to idiots on KOS and the like and just repeated completely bogus numbers.
No Obama plan has been supported by anyone. He has not plan that will reduce the debt. He has increased the national debt by over $5trillion.
The job creation numbers are also fantasy. They've been discredited.
SPIKE THE BIN LADEN BALL! IT WAS ALL OBAMA. You do realize, that Dems repeating this over an over again just makes you look like that little kid that always sucked at sports bragging about his championship trophy, because he was on a team that won, even though he didn't play. You realize that, right?
Further, base on recent events, I think it's really smart to be bragging about PrezBO's foreign policy. Doing such a great job.
I have no idea if that job creation stat is correct re Dem v. Repub presidents, but I do know if it includes the BS #'s this retard attributes to Obama, then it's BS as well. Obama's job creation numbers are atrocious. The attempts to call any of this a "recovery" is the funniest **** ever.
Question: you guys love Govt spending for jobs. Why does that no apply to defense spending? You know what doesn't add up? Continually spending over $1 trillion more every year than we have. Because that Is what Obama is doing.
Instead of putting this on his Facebook page, he should have just posted a picture of himself holding his GED.
9/15/2012 11:55 PM (edited)