James Pethokoukis’ “Why Obama’s big economic gamble is failing,” is an acknowledgement of what we already knew but wouldn’t hear from the Democrats who control the White House, the Congress and the Media. (see story)
According to Pethokoukis Obama could have demanded and got a stimulus plan that would have attempted to reverse or significantly dampen America’s terrible economic downturn instead Obama put his Party and his Politics first and signed a $787billion dollar Democrat spending spree that Joe Biden is now acknowledging was wrong. Biden now admits that Democrats got it all wrong. (see previous post)
What this economy needs are the jobs that corporate America has been outsourcing for decades. Corporations have been outsourcing American jobs to avoid paying middle class wages and benefits. No matter what tricks Obama and Democrats do with our tax dollars via “Demulus,” Democrat pork barrel spending dressed up as economic stimulus, spending it will not help solve the fundamental causes for this crisis.
Removing these jobs gutted the economic infrastructure of the United States economy. Without these jobs no matter how the government spends money and no matter how Wall Street fares Americans can not spend the money that is needed to get this economy going.
No matter what Obama promises no created government job can replace private sector jobs or stimulate the economy.
The quickest and most effective approach would have been a big cut in payroll taxes. For $800 billion, combined Social Security and Medicare taxes could have been slashed by 6 percentage points, or 40 percent. That would have put $1,500 in worker paychecks and, according to one credible study, increased employment by 4 million jobs in 2009.—James PethokoukisPethokoukis like everyone else who discusses this subject believes that cutting taxes will solve the crisis in America but cutting taxes is not the answer for the millions of Americans who lost good paying jobs that were outsourced to save corporations from paying middle class American wages.
What has happened to the American worker is directly related to the American economy so Corporate greed once again is responsible for the economic misfortune of America.
Obama chose to listen to Rahm “Never let a crisis go to waste” Emanuel and put forward an $800 billion plan that advanced his healthcare, energy and education policy goals — but pretty much neglected the economy in 2009. Team Obama had to fully understand this.Barack Obama put forward a totally impractical stimulus package according to Peter Orszag Obama’s own budget chief. However, regardless of that fact no stimulus package will be able to replace the billions of dollars of jobs that have been out sourced to low paying foreign country to save corporations billions of dollars of salaries and compensations while leaving the U.S. economy in a total shambles.
Indeed, a study from the Congressional Budget Office study — when led by current Obama budget chief Peter Orszag — concluded that an Obama-like economic stimulus package would be “totally impractical.”—James Pethokoukis
Instead of Obama telling Americans the truth about our situation he, Rahm Emanuel and Democrats used this economic crisis to further dismantle the U.S. failing economy and insert Democrat policies and programs that would guide America down the road to socialism.
It doesn’t take a rocket scientist to see that by outsourcing middleclass jobs for over 10 years and in-sourcing Illegal Alien workers, U.S. corporations have destroyed the economic ecosystem of America, it is akin to breaking the food chain in the ecosystem and the higher animal life forms begin to be affected because the food that animals down the food chain is missing, starving the mid chain Animals because the food that they depend upon was taken out of the system. This is what Corporations have done to the entire economic system in America.Finally it is not tax cuts, or government created jobs, or government bailouts, or any of the fraudulent fixes that have been trotted out by Obama as answers to take this country out of the economic cataclysm which we face. The only thing that will save America is jobs, lots and lots of good paying middle class jobs that were gutted out of our economy in order to maximize corporate profits.
Though Corporations’ original goal was more profit by cheaper labor their insatiable appetite for Global economic greed has in fact caused the economic crisis that we face today. Corporations are at fault for everything that is wrong with America today!—Alaphiah (see previous post)
For decades our government allowed corporations to dismantle the most vibrant economy in the world in order to save these corporations the cost of paying Americans middle class wages. And as a final insult to our intelligence now that the economy is in total collapse, due to corporate and government actions, the America people were forced to pay trillions of dollars in taxes to replace the money corporations siphoned out of this country in the first place. It is that lack of money due to the lack of jobs that has caused the failing of the American economy.
Obama’s economic stimulus package was a fraud on it’s face and it was never intended to stimulate the economy only real jobs will do that, it was meant to use the economic crisis to put in place Democrat social policies and programs that they had been wishing for, for years. But you bought Obama’s empty promises and his phony stimulus package because he is well spoken.
Next he’ll be selling swamp land in Florida otherwise known as Comprehensive Health Care.
Any of you going to buy that too?