"and BHO has offered tax relief and will introduce a bill with offsetting spending cuts, and yet you won't support that."

When? Next year, for the next Congress, for the next POTUS? Why not mention the spending cuts tonight? Why keep hammering that this bill needs to be passed NOW, instead of 3 weeks ago before his vacation?

Cleveland Buck;888238 wrote:We can't borrow $2 trillion all at once anymore. The Federal Reserve would be the only buyer for those bonds, and that might be the last straw for the dollar.

^Ron Paul said that more than 3 years ago on the house floor and the goldbugs have been saying it since the Nixon Shock. Oral Roberts would be impressed.

The spending cuts will never happen, everyone knows that. The thing is, they might be more important to grow economy than the tax cuts. If what little capital we have wasn't buying treasury bills maybe it would be invested in the economy.

Manhattan Buckeye;888253 wrote:"and BHO has offered tax relief and will introduce a bill with offsetting spending cuts, and yet you won't support that."

When? Next year, for the next Congress, for the next POTUS? Why not mention the spending cuts tonight? Why keep hammering that this bill needs to be passed NOW, instead of 3 weeks ago before his vacation?

Well don't ask me but it's Thursday night and it will be in writing next week according to the Press Secretary. All everybody wanted during the debt ceiling debate was something on paper so apparently you'll have it then which it doesn't matter you won't like anyway.

BoatShoes;888263 wrote:Well don't ask me but it's Thursday night and it will be in writing next week according to the Press Secretary. All everybody wanted during the debt ceiling debate was something on paper so apparently you'll have it then which it doesn't matter you won't like anyway.

Thanks for putting words in my mouth, but you're probably right, unless it involves immediate SS reform and other entitlements I won't like it. Then again I'd like that the U.S. be around the rest of my life in non-banana republic form with currency worth more than toilet paper. This speech addressed little more than his Monday rally the troops and sycophants.

BoatShoes;888248 wrote:You say it accomplished nothing based upon a mere assertion but people lat the FED, treasury, CBO, banks, etc. disagree.

Oh it accomplished something. Delaying the inevitable. We need fundamental change. Sometime it takes falling hard on your ass to get that change.

BoatShoes;888254 wrote:^Ron Paul said that more than 3 years ago on the house floor and the goldbugs have been saying it since the Nixon Shock. Oral Roberts would be impressed.

What does that have to do with anything? People were wrong or early about predicting the collapse of the dollar before, so it will never happen? You think because the dollar is gaining against the Euro that it is in good shape? The Euro will be finished right after the dollar is.

The dollar has never been weaker against commodity currencies like the Australian dollar. It has never been weaker against gold. Trillions of dollars of inflation is still stuck on bank balance sheets. People are saying that the Fed should stop paying banks to hold their deposits because it discourages them from lending that money. Of course, the reason the Fed can't stop paying is because if the banks lend that money prices will soar. These banks are only accumulating more and more inflationary reserves to lend against when they buy trillions of dollars of treasury bills each year and the number is only growing. To claim this is sustainable is ridiculous.

Just as I fingure Obama speech will send gold up by morning and the lack of confidence in the stock market will send it down.

The Public Servant Used Car Sale Pitch "Pass it Now" rallied no one ..... no substance, nothing new, same old same old call for more spending and taxing rich and the profitable with the detail come later. Pass it now and find out what in it later .. fuck that mofo

Not My President sound more and more like the rally call of America....

Ty Webb;887940 wrote:My take on this speech comes in the form of a letter to Republicans:

Dear Republicans in Congress,

You have now offically pissed me the **** off. It's ON

Love,
President Obama

You maybe right, that was his tone. The problem is that the public right now sides more with the republican ideas than Obama's. So he will only make his case worse by taking them head on instead of compromising.

Actually a number of the ideas were good, on the surface. The extended small business cuts, the decrease regulatory red tape (Obama is just now getting that message?).

Helping people refinance seems like a good idea, but short of flat giving them a handout, how many will really want to refi a house under water? Housing prices over-corrected and we need a plan to re-inflate.

Eventually, hopefully with a new POTUS in 2012, we'll get around to realizing the key is restoring business and consumer confidence, and that requires reigning in govt spending. The small business owners - that engine of growth - are very skittish and loathe to invest given the economic outlook and what is likely to be significantly higher taxes in the future. Many are looking to sell their businesses to cash out while they still can, and this is not conducive to growth.

Belly35;888517 wrote:JThe Public Servant Used Car Sale Pitch "Pass it Now" rallied no one ..... no substance, nothing new, same old same old call for more spending and taxing rich and the profitable with the detail come later. Pass it now and find out what in it later ..

Fool me once, shame on you. Fool me twice, shame on me.

Obama is clueless in the working of small business and to be honest this administration and other before them have no idea about small business needs into day market.

Sale are down 30-50 % thank to goverment, to some small business the future does not look like any growth for months. We have cut down to the bone and can’t cut any more. Hiring will not happen overnight because no matter what, the money not there to pay them or benefits every two weeks. Small business have to recoup some of the past loses before any hiring can take place. Whatever hiring tax credit offered does no balance out the out going cost of a new hire in conjunction with low sales. Small business needs operational money..”LINE OF CREDIT”. When the Feds and the Bankers mentality of Global financing took away from me (one company from $250,000 and dropped my line of credit to $175,000) that stopped any potential addition profit I could make in return 2 employees where let go weeks after the down grade in line of credit.

What to help …
Extend all small business line of credit
Tax cuts on equipment purchases and reaches development
Lower the taxes
Many small business and business owner have 2010 back tax that are still owed. Provide some type of a relief from those taxes. This will also provide working capital for business.

Obama speech last night was about the hiring of Union jobs (Construction, Teacher) small business 4-15 employees are not Union worker. His incentive applies only to larger companies that can write off loses .. Small business can’t carry loses for later refunds nor can they hire now for refunds later ..
Do the math of a new employee cost to a small company with sale down 30% or more the number at the end of the year is a negative plain and simple. See Obama the county via Politician can run in the negative but small business can’t print money

BoatShoes;888263 wrote:Well don't ask me but it's Thursday night and it will be in writing next week according to the Press Secretary. All everybody wanted during the debt ceiling debate was something on paper so apparently you'll have it then which it doesn't matter you won't like anyway.

Let me make sure I have this right. Barry announces before his Martha's Vineyard/Hawaiian vacation extravaganza that he's going to present his "jobs" plan (again) to the American people when Congress returns. That gave him about 3 weeks to think, contemplate, correlate, consider, dream, brainstorm, form, test, and coherently create a plan that will save us from the abyss. Hmmm...he said the exact same thing in 2010, with a "laser focus", and yet returned with squat. Anyways, he had all the time he needed.

Unfortunately, 3 weeks wasn't nearly enough time (along with the 52 weeks from last year) for him to finish it up. Details...details...details I suppose. He parades his Keynesian philosophies in full view once again and offers no clues as to how to pay for it. We have to wait 2 more weeks to hear him make yet another campaign speech to learn about those pesky details. However...he demands his bill be passed immediately before we learn the details. Sound familiar to anyone???? Cue-up Nancy please.

He offers nothing but tweaks, tax-code changes, deficit spending, generational theft, nudges, shovel-ready...excuse me...HAHAHAhahahehehehehehhohohohoho...jobs, payoffs to unions, blah blah fucking blah. Hasn't this been tried recently? How'd that work out for America? My bad...it's Bush's fault. Shame on me.

BoatShoes;888234 wrote:Lol. And what's even better is that most of this bill, like the Recovery Act, is tax relief...which you claimed earlier in this thread "don't cost money" and which QuakerOats gives credit for increases in tax receipts. You were not opposed to tax relief that was not accompanied by spending cuts in the past...and BHO has offered tax relief and will introduce a bill with offsetting spending cuts, and yet you won't support that. BHO is supporting tax relief and spending cuts and yet you claim he wants to ruin the country. Please explain friend.

Because he wasn't specific and I don't believe him. He's a liar. A compulsive, chronic liar. He can't be trusted and unless I see something, in writing, that tells me exactly how this does NOT add to the deficit, I won't believe him. Ever. A fact check immediately after his speech even said it was unlikely this proposal wouldn't add to the deficit -- and that's from a press that almost universally bows down to this inept tool.

Writerbuckeye;888770 wrote:Because he wasn't specific and I don't believe him. He's a liar. A compulsive, chronic liar. He can't be trusted and unless I see something, in writing, that tells me exactly how this does NOT add to the deficit, I won't believe him. Ever. A fact check immediately after his speech even said it was unlikely this proposal wouldn't add to the deficit -- and that's from a press that almost universally bows down to this inept tool.

This, for the first time I actually heard some decent economic ideas out of this admiinstration. But, you're right, vague generalities. And can they execute? Screaming at Congress to "pass it now" doesn't mean jack squat.

Of course the folks on MSNBC loved the speech, but I thought it was horrendous. Horrible poliitcal grandstanding that is, IMO, beneath the office. Getting up there and going on a rant and practically screaming at Congress like children (even if deserved)?

Then I remembered how stupid the average American is (how this bozo got elected in the first place) and that such WWF-style rants probably score well with the ignorant.