Obama is simply clueless about the economy

[spence]

Originally Posted by basswipe

In the end Obama's made so many mistakes they can't even be counted.He really is one the worst presidents in US history.

Name three.

-spence

[basswipe]

Originally Posted by spence

Name three.

-spence

This man spends money he doesn't have and has no real plan on how to recoup this money other than trying sell to the American public that taxing the rich will pay for it all with no real definition of who and what the rich are.

A good analagy is putting a bandage on a cut that won't heal.If the bandage doesn't heal the cut we need find out why the cut won't heal,you just can't keep putting bandages on it.

1.The American Recovery and Reinvestment Act.Its putting a small amount of people to work for a small amount of time and then puts those same folks back in the proverbial unemployment line.And in some cases actually is costing more money than projected because of unmet deadlines and other cost overuns.We got a couple of nice roads yay.Again the bandage analagy works well here,no real solutions to fix our crumbling infrastructure.The Jobs Act is just another bandage,we'll add that to the list of future mistakes.

2.Obama Care.For the average American who has a healthcare plan through their employer the price of going to the doctor has climbed and not always necessarily through higher rates but higher copays...since Obama Care passed my copays have tripled.The forcing businesses(specifically small/medium)
to provide healthcare or else approach gives businesses two choices:spend money they don't have or close up shop.The obvious choice is close up shop.Never mind the tanning salon tax will take care of that.

3.The Housing Market.His inaction in doing anything real to help the housing market recover other than to throw money at it(again a bandaid) without any real effort to fix the underlying problems in the market.Lets not forget that as senators Obama and Barney were the two most responsible for this mess.Foreclosures are still at very high numbers.
Lets taIk house building/renovation.I know the "numbers" say its getting better but as someone who's worked residential construction all my life I can tell you for a fact it isn't better,its worse!People are not building new houses and they are not fixing their old ones.I work for one of the largest construction companies in RI and we just had a wholsale layoff of people.We've submitted little to no bids because there is nothing to bid on.Unless things get better after our current projects are finished I'll more than likely be in the unemployment line.

So when the dust settles and this country is in even more debt than it already is taxing the rich will pay for nothing and the burden will fall on small/medium business and the American worker through raising taxes on them.


I believe that's three.

[spence]

Originally Posted by basswipe

This man spends money he doesn't have and has no real plan on how to recoup this money other than trying sell to the American public that taxing the rich will pay for it all with no real definition of who and what the rich are.

A good analagy is putting a bandage on a cut that won't heal.If the bandage doesn't heal the cut we need find out why the cut won't heal,you just can't keep putting bandages on it.

1.The American Recovery and Reinvestment Act.Its putting a small amount of people to work for a small amount of time and then puts those same folks back in the proverbial unemployment line.And in some cases actually is costing more money than projected because of unmet deadlines and other cost overuns.We got a couple of nice roads yay.Again the bandage analagy works well here,no real solutions to fix our crumbling infrastructure.The Jobs Act is just another bandage,we'll add that to the list of future mistakes.

2.Obama Care.For the average American who has a healthcare plan through their employer the price of going to the doctor has climbed and not always necessarily through higher rates but higher copays...since Obama Care passed my copays have tripled.The forcing businesses(specifically small/medium)
to provide healthcare or else approach gives businesses two choices:spend money they don't have or close up shop.The obvious choice is close up shop.Never mind the tanning salon tax will take care of that.

3.The Housing Market.His inaction in doing anything real to help the housing market recover other than to throw money at it(again a bandaid) without any real effort to fix the underlying problems in the market.Lets not forget that as senators Obama and Barney were the two most responsible for this mess.Foreclosures are still at very high numbers.
Lets taIk house building/renovation.I know the "numbers" say its getting better but as someone who's worked residential construction all my life I can tell you for a fact it isn't better,its worse!People are not building new houses and they are not fixing their old ones.I work for one of the largest construction companies in RI and we just had a wholsale layoff of people.We've submitted little to no bids because there is nothing to bid on.Unless things get better after our current projects are finished I'll more than likely be in the unemployment line.

So when the dust settles and this country is in even more debt than it already is taxing the rich will pay for nothing and the burden will fall on small/medium business and the American worker through raising taxes on them.


I believe that's three.

I'm not sure you can call any of those "mistakes", rather they're legislative actions that you just don't agree with.

As for housing, Obama certainly has worked to help reduce foreclosures. You'd probably consider it socialism though, or government enabling less personal responsibility.

-spence

[scottw]

Originally Posted by spence

As for housing, Obama certainly has worked to help reduce foreclosures. You'd probably consider it socialism though, or government enabling less personal responsibility.

-spence

yup...and it's worked out about as well as most Obama initiatives....

"The Obama administration's initial foreclosure-prevention programs, launched in early 2009, were intended to help 7 million to 9 million people. So far, they've aided about 2 million, and not all of those are out of foreclosure danger.

Programs begun later have also faltered. One intended to help at least 500,000 has helped just a few hundred a year after its launch. Another initiative to extend $1 billion to help the jobless or underemployed avoid foreclosure ended in September, obligating less than half of its funds. The unused money went back to the U.S. Treasury.

As of Nov. 30, the government had spent just $2.8 billion of the $46 billion war chest it had in 2009 to devote to the housing crisis, the Treasury Department says. More has been committed, but only $13 billion will ultimately be spent, the non-partisan Congressional Budget Office estimated in March."

"Every program has fallen far short of goals. I can't think of one that's been largely successful," says John Dodds, director of the Philadelphia Unemployment Project, a non-profit that's been involved in foreclosure prevention for decades.



What went wrong with foreclosure aid programs? ? USATODAY.com


also

75% of modified home loans will redefault
By Les Christie, staff writerJune 16, 2010: 3:02 PM ET

NEW YORK (CNNMoney.com) -- Most borrowers who have had their mortgages modified through a government-sponsored program will redefault within 12 months, according to a report released Wednesday.



http://money.cnn.com/2010/06/16/real...mods/index.htm

and

HuffPo
HAMP: Mortgage Modifications Slow To Trickle Under Obama Anti-Foreclosure Program

08/ 9/11

WASHINGTON -- Since the Home Affordable Modification Program launched in the months following President Obama's inauguration, nearly 870,000 struggling homeowners have been kicked out of the initiative, while just 657,044 remain in permanent modifications.

For eligible borrowers, HAMP lowers monthly payments to 31 percent of their monthly income by reducing interest rates, extending the term of a loan and temporarily forbearing payments. If a borrower successfully makes reduced trial payments for three months, the modification is supposed to become permanent -- but in its early history the program has been notorious for its drawn-out and often hopeless trial mods.

President Obama said in 2009 that the program would help 3 to 4 million households modify their mortgages. The Treasury Department, which administers HAMP, backed away from that goal last year and started measuring the program's success mainly by the number of modifications across the entire mortgage servicing industry.

[Jim in CT]

Spence, what about that $60 trillion in unfunded liabilities. You have no opinion on that? Nothing at all?

Of course not. You don't know what to say about that, because Obama hasn't told you what to say. And like any other mindless parrot, you can't regurgitate the words unless your master trains you first.

$60 trillion. And that IGNORES the $15 trillion in operating debt that we currently have (the number you see in Times Square), so our total debt is more along the lines of $75 trillion, which is $250,000 for each of the 300 million of us.

Obama's plan is to ignore this, and to demonize anyone who bravely suggests that we need to address this problem. Because Obama hasn't chimed in yet, Spence has nothing to say. Nothing. Yet Spence claims he is well informed and intelligent.