How can Obamanomics play out?

[Rob's House]

Government has grown to the point that we can no longer support it with the tax base; not even close. And there’s not close to enough revenue to be gained by raising taxes and cutting defense to close the gap. Yet, we’re told we need to continue expanding entitlements and benefits, which are the biggest glut on the budget, with no coherent explanation of how to avert disaster. Can someone explain how this is supposed to work?

[DrFishfinder]

Government has grown to the point that we can no longer support it with the tax base; not even close. And there's not close to enough revenue to be gained by raising taxes and cutting defense to close the gap. Yet, we're told we need to continue expanding entitlements and benefits, which are the biggest glut on the budget, with no coherent explanation of how to avert disaster. Can someone explain how this is supposed to work?

 

Close your eyes and hold your breath until 11/6/12.

[Dante]

Government has grown to the point that we can no longer support it with the tax base; not even close. And there’s not close to enough revenue to be gained by raising taxes and cutting defense to close the gap. Yet, we’re told we need to continue expanding entitlements and benefits, which are the biggest glut on the budget, with no coherent explanation of how to avert disaster. Can someone explain how this is supposed to work?

Didn't you hear? The rich just aren't paying enough taxes. Those tax breaks on private jets dug us a hole we may never get out of. Do you know the rich use those jets to fly just their pet dogs around?

[Barack Obama]

Government has grown to the point that we can no longer support it with the tax base; not even close. And there’s not close to enough revenue to be gained by raising taxes and cutting defense to close the gap. Yet, we’re told we need to continue expanding entitlements and benefits, which are the biggest glut on the budget, with no coherent explanation of how to avert disaster. Can someone explain how this is supposed to work?

Hope

 

Do you know the rich use those jets to fly just their pet dogs around?

Yes we can

[Dave_In_Norfolk]

Close your eyes and hold your breath until 11/6/12.

To do what? Celebrate Obama's reelection? The guy isn't even down in the polls much and the GOP doesn't even have a candidate to beat up on yet.

 

 

The budget will best be taken care of by growing the economy and hopefully that will start happening in the second half of this year.

[IDBillzFan]

The budget will best be taken care of by growing the economy and hopefully that will start happening in the second half of this year.

Because HOPING for things to happen has been great so far.

 

Is this the same economy that was supposed to grow in the FIRST half of this year? Precisely what do you think is going to take place to change the current course of the economy? Enlighten us, please...

[Dave_In_Norfolk]

Because HOPING for things to happen has been great so far.

 

Is this the same economy that was supposed to grow in the FIRST half of this year? Precisely what do you think is going to take place to change the current course of the economy? Enlighten us, please...

Change happens! You can hope that America is economically down all you want. But the American economy is way beyond your limited expectations and hopes for failure. America is can do! Republicans are not.

[Doc]

Government has grown to the point that we can no longer support it with the tax base; not even close. And there’s not close to enough revenue to be gained by raising taxes and cutting defense to close the gap. Yet, we’re told we need to continue expanding entitlements and benefits, which are the biggest glut on the budget, with no coherent explanation of how to avert disaster. Can someone explain how this is supposed to work?

One word: volume.

Change happens! You can hope that America is economically down all you want. But the American economy is way beyond your limited expectations and hopes for failure. America is can do! Republicans are not.

Wow. Just, wow.

[DrFishfinder]

To do what? Celebrate Obama's reelection? The guy isn't even down in the polls much and the GOP doesn't even have a candidate to beat up on yet.

 

 

The budget will best be taken care of by growing the economy and hopefully that will start happening in the second half of this year.

 

Not a pretty picture, is it? Very few companies are spending any money they don't absolutely HAVE to spend to keep the doors open and lights on. That isn't, and won't, grow the economy.

[Dante]

Change happens! You can hope that America is economically down all you want. But the American economy is way beyond your limited expectations and hopes for failure. America is can do! Republicans are not.

American in terms of its citizens powered by unbridled free enterprise certainly is "can do". Government,especially powered by liberal, leftist ideals, is definitely "can not do". No one wants the economy to go downhill. Socialist techniques of iron fisted regulation and money confiscation make it inevitable. Its not hard to predict that Obama is going to lose the next election because he and his friends are to entrenched in their ideals to let the economy free. You wouldn't want any one to get rich or anything. Unless its them of course.

[Magox]

Government has grown to the point that we can no longer support it with the tax base; not even close. And there’s not close to enough revenue to be gained by raising taxes and cutting defense to close the gap. Yet, we’re told we need to continue expanding entitlements and benefits, which are the biggest glut on the budget, with no coherent explanation of how to avert disaster. Can someone explain how this is supposed to work?

Nope, because it won't work. You can take that to the bank. I'll tell you what's killing Obama more than anything regarding the economy, it's all these stupid nonsensical regulations and uncertainties of these massive Bills that will be coming down the pipeline. The Dodd Frank Bill is gonna crush what it is that I am doing right now. MOst of my business in Metals is in leveraged products and now we won't be able to offer those products any longer. My little business is a microcosm of how the Obama administration is changing the landscape of America.

 

Between Dodd/Frank, Obamacare and the EPA's overwhelming powers and new regulations, this alone is going to account for hundreds of thousands of lost jobs over the next few years, and that is just the tangible losses, the indirect losses caused by the uncertainties of these laws and regulations combined with the belief of higher taxes on the job producers that the liberals so desperately want, will account for hundreds of thousands of more lost jobs.

 

 

Combine these idiotic pieces of legislation, nonsensical regulations, fear of higher taxes and uncertainty along with the devastatingly poorly crafted "stimulus" bill which was the wrong strategy to go with in the first place, you can pretty much figure that as a result of all these missteps, that the economy over the next few years won't be reaching as Mohammed El Erian says "escape velocity". Meaning that the economy won't see that sort of liftoff you normally see of 5-6% GDP growth right after the recession.

 

To be fair, I honestly don't believe anyone could of gotten us to that 5-6% GDP growth. THe "Stimulus" did have a quarter or two of good strength of above 4% growth, but that was to be expected. I mean, of course, if you spend Billions of dollars of free giveaways, and producing jobs just for the sake of producing jobs, then you will obviously see growth. But it wont be sustained. Which is what we are seeing today, NO SUSTAINED GROWTH.

 

Did I not say this would happen? Yeah yeah I know, I'm tooting my own horn, but !@#$ it, I said this would happen, only because it was painfully obvious.

 

I'm being serious here, the best thing that could happen to this economy is for Obama to lose to Romney in 2012. He would repeal Obamacare, most likely look to tear apart Dodd Frank and all the damage the EPA's regulations are causing.

 

In other words undo all the harm that Obama has done to this economy. I think you guys know I'm not a real partisan even though I consider myself to be an economic conservative (even though I agree that sometimes taxes need to be raised), I just speak it how it is, and the reality is that Obama's economic policies have been atrocious.

[UConn James]

Not a pretty picture, is it? Very few companies are spending any money they don't absolutely HAVE to spend to keep the doors open and lights on. That isn't, and won't, grow the economy.

 

That's because after they're still reeling from the effects of Obamacare, they're scared shitless about what the Current Occupant will create a national mandate for next.

[DrFishfinder]

That's because after they're still reeling from the effects of Obamacare, they're scared shitless about what the Current Occupant will create a national mandate for next.

 

You are correct. I have spoken with company CEO's, CFO's and a few other O's thrown in for good measure. They have all pretty much said the same thing: "Right now there is too much uncertainty. Until we have a clearer picture of how things are going to transpire, we are going to hold on to our liquid assets and not spend any more than absolutely necessary."

American companies are sitting on more than 3 trillion dollars in cash. For the most part, they are simply unwilling to spend it at this point.

[Doc]

That's because after they're still reeling from the effects of Obamacare, they're scared shitless about what the Current Occupant will create a national mandate for next.

SCOTUS needs to strike down Obamacare. If they don't, ANYTHING will be fair game to be forced on people under the charade of "regulating interstate commerce."

[TPS]

You are correct. I have spoken with company CEO's, CFO's and a few other O's thrown in for good measure. They have all pretty much said the same thing: "Right now there is too much uncertainty. Until we have a clearer picture of how things are going to transpire, we are going to hold on to our liquid assets and not spend any more than absolutely necessary."

American companies are sitting on more than 3 trillion dollars in cash. For the most part, they are simply unwilling to spend it at this point.

Sounds like a very scientific study...

When corporations are operating at less than 80% capacity, and unemployment is over 9% (the official rate for my friends), there is no reason to spend it. That IS the defintion of economic uncertainty.

[DrFishfinder]

Sounds like a very scientific study...

When corporations are operating at less than 80% capacity, and unemployment is over 9% (the official rate for my friends), there is no reason to spend it. That IS the defintion of economic uncertainty.

 

It's one thing to read articles. It's another to actually sit down and talk to company management. How many have you talked to?

[/dev/null]

Phase I: Collect underpants

Phase II:

Phase III: Profit!

[pBills]

Change happens! You can hope that America is economically down all you want. But the American economy is way beyond your limited expectations and hopes for failure. America is can do! Republicans are not.

 

 

He can short bet on that... oh wait, that was Cantor.

[birdog1960]

SCOTUS needs to strike down Obamacare. If they don't, ANYTHING will be fair game to be forced on people under the charade of "regulating interstate commerce."

but this is what it will take to get entitlements under control...that or have the private insurers do it, which for some reason you folks are eager to accept. we need to stop the mri's for the people that "just want to know" and the stress test on 30 year olds with gas pains and all the futile care. the gov't really is the only entity that can effectively do this. same for social security reform. the painful stuff has to happen. if you're asking if the political will really exists on either side then i agree, that's a serious question.

[/dev/null]

the gov't really is the only entity that can effectively do this

 

gov't + effectively

 

Oh wait, you're serious.