Another Obama crisis

Here we go again. Days after President Barack Obama claimed the nation needed to raise the debt ceiling to avoid a stock market crash crisis, the nation is in yet another crisis.

There have been so many crises in the Obama administration — the “we need to pass the Troubled Asset Relief Program crisis” which didn’t work; the “we need to pass ObamaCare crisis,” which put the nation further in debt, etc.

I thought that the “we need to raise the debt ceiling crisis” was supposed to be the nation's salvation, but now there is yet another crisis?

The problem with the debt ceiling deal is that it did not provide any spending cuts. Because government spending has such a trajectory, there will now be an increase of $7 trillion in spending next year rather than $9.4 trillion. The bleeding slowed but the spending was not cut. The U.S. economic problem is unsustainable debt.

Unemployment is at an all time high. Consumer confidence is at an all time low. Inflation is on the rise. There could be a double dip recession and a downgrade of the U.S. dollar.

The nation is in constant crisis (never Obama’s fault, of course — just ask him).

I feel used by the Obama administration.

Judy Lowell, Rumford

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Comments

 's picture

Outsourcing and taxation

If you read my letter there is a sense of fiscal responsibility over the "CONservative" fiscal irresponsibility brought forth by Bush and his ilk. As well looking at the United Kingdom through the BBC remember that he set to approve a bill which will allow for human rights violations. Is this another turn a blind eye to oppression created by "CONservatives" using slave labor and outsourcing?

Joe Morin's picture

P.S.

I hope you folks here hold yourself to a higher level of personal accountability than you hold your elected officials. If you don't I'd hate to be the bank listed at the top of your checks. 14 Trillion...seriously. Remeber when a Billion dollars was a lot?

PAUL ST JEAN's picture

The Pirate can remember when

The Pirate can remember when a million bucks meant a life of leisure and luxury. Of course, back in those days, John Unitas and Jim Brown were the two highest paid players in the NFL at $30K and $29K per year, respectively. Nice, eh?

Joe Morin's picture

Come on already!!!!

Teabaggers??? destroying Obama??? We are 14 Trillion in debt! That was a Bush presidency that forced me out of the (R) party and then it gets followed up by Obama? Dems had a supermajority for what? 2 years??? Did nothing on entitlement spending, budget deficit or even produce a budget! The (D) got creamed in 10 beacuse they were awful. S & P downgraded us because of our long term debt projections. The cuts were nothing! It's smoke and if they were real it slows deficit spending but does nothing towards the national debt. In 8 yrs Bush expanded the FED & put us 4 Trillion in debt. Obama privatized 1/5 of our economy and got us to 14 Trillion, but you're right it's the 15 or so freshman representatives that are to blame. It's like I live in the twilight zone. When Obama is creamed in '12 it won't be satisfying, it will be a relief.

PAUL ST JEAN's picture

If, oBAMa gets creamed in

If, oBAMa gets creamed in '12, Joe, it may well mean the salvation of our country. My fear is that there are still enough idiot voters left to re-elect the imbecile. Four more years of oBAMa as president would certainly mean the total destruction of our economy. If he does get creamed, his concession speech will consist of, "I inherited this mess; it's not my fault"., etc, etc, etc.

Joe Morin's picture

Captain

I agree but fear the alternative as well. The populace doesn't want straight talk. Who is the candidate to A. give the sobering reality of the situation?
B. Make the unpopular decisions necessary towards fiscal recovery?
C. Doing all this honestly, knowing it would mean no re-election?
Guys of that character & integrity typically don't do politics and typically if they are involved don't rise to the top.

PAUL ST JEAN's picture

Your are correct on every

Your are correct on every point.
deTocqueville wrote 180 years ago, "I do not know if the people of the United States would vote for superior men if they ran for office, but there can be no doubt that such men do not run". That was one wise Frenchan.
All we get to run for office are gutless scoundrels who spend most of their time in office campaigning for their re-election and fighting among themselves.

Joe Morin's picture

History can be our lesson

You are correct. It's amazing that a Frenchman who observed the American way of life in the 1830's can produce thoughts so poignant to the current political trappings of our time. "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money." Alexis de Tocqueville. I don't think he was prophetic, I just feel he understood the dynamics of our system as well as human nature.

PAUL ST JEAN's picture

You state that de Tocqueville

You state that de Tocqueville may not have been prophetic. To this I submit the following: "Democracy can only exist until the voters discover that they can vote themselves largess from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy." Sound familiar? It should; it's an exact reflection of America in 2011. de Tocqueville may not have been prophetic, but he sure had Americans figured out.

 's picture

S&P also advocated veterans cuts

S&P also urged us to cut social services; including veterans rights and benefits down the line given their own conversational tone in how we should rebuild America. That is a systematic act of communist purging and eradication of a group of citizens which they did not want to mention.

Steve  Dosh's picture

Another Obama crisis

. ....We all feel abused by the great Bush-Cheney mancession , Judy :)

PAUL ST JEAN's picture

Bush did his part, but oBAMa

Bush did his part, but oBAMa owns this mess lock stock and barrel. Two things oBAMa did inherit, though, are a 7.3% unemployment rate and a AAA credit rating. Way to go, Barry!!!

CLAIRE GAMACHE's picture

Blame

I seem to remember that it was Boehner who said he got 98% of what he wanted not Obama. The crisis was created because Republicans insisted on using the debt ceiling debate to reopen an already passed budget. Both sides agreed from the start that the debt ceiling would be raised and that there would be some cuts in spending but the argument centered around whether we would drag out this debate through the next election cycle or not. We will and the investors have let us know what they think of this idea.

Joe Morin's picture

No Claire, thats not how it went.

The original agreement was that the (R) would agree to debt ceiling increase with off-setting cuts. This would prevent a default and supposedly a downgrade. Then once the (R) acquiesced to this...Boom it was tax increases and "Balanced Approached". Both sides disagreed so much that they talked about a short term fix to prevent default and work on it more... but B.O. wouldn't have it. He stated he would veto any short-term deal because the U.S. was better than this. AKA ( Can't be having this fight while I'm running for re-election.) When Jay Carney was asked why he said that, if a default was supposedly so catastrophic??? Then we got one of those faces you get from your kids when they said they slept at Johnny's house and then you say, I just talked to Johnny's mom and she thought you guys slept here. You and many others miss the whole point, maybe on purpose. You think the debt ceiling and how it would shake down was the problem. The problem was that we had maxed out the credit cards. 14 Trillion( 14,700,000,000,000.23)& twenty three cents. That isn't a problem in your eyes??? Well it was to S & P, the stock market, China, The IMF, Europe, the rest of the world except for Americans who vote (D)

CLAIRE GAMACHE's picture

the investors

People get way to excited over the 14 trillion dollar figure. It is not that much more than it was the last time we raised the debt ceiling and the economy did not collapse then so I doubt that was the cause this time. Investors in looking at the deal that was hatched see gridlock and instability coming from the super congress and the step deal etc. that it contained and they responded to that by pulling out of stocks and investing in those downgraded securities. That showed they have faith in the government but not in the economy. It has been frozen solid between now and the election. Hope you do not need to sell a house or get a job or get a loan or open a business because those folks are screwed.

PAUL ST JEAN's picture

Now let me see, what will the

Now let me see, what will the next oBAMa crisis be that is also Bush's fault? Hmmm?

 's picture

Breton is half right.

The bill contained NOTHING. $1T in spending cuts spread over ten years is $100B per year. In a $4T budget (assuming the Democrats ever get around to proposing one) that's a 2.5% cut. The markets have reacted to that quite properly: Bee Eff Dee.

And, of course, no bill can constrain any future Congress in any way. At any point, even today, they can change it or repeal it. It is NOTHING but vapor. Without the Tea Party, we wouldn't even be talking about trying to get a handle on the country's fiscal affairs. DC would remain on autopilot as we head into total bankruptcy and Weimar-style inflation. You want to see the real "terrorists and hostage takers"? Turn on C-SPAN and watch the Ds and Rs. Oops, you'll have to wait until they return from vacation.

Given his track record, Obama doesn't deserve reelection. There's change that is hoped for by more people every day.

 's picture

wrong

Uh, Judy? TARP was 100% Bush's baby.

AL PELLETIER's picture

Everyday is a crises

Judy, I know it seems that way, but in my 64 years I've lived through so many crises nothing surprises me anymore. We've had crises after crises with either party in control starting with the American revolution right up to today. Every morning when I wake up I ask myself, what are we going to have to deal with today? Waking up to another great day with no crises is non-existent and won't be in my lifetime. You just have to get used to it as it's the American way.

Joe Morin's picture

I truly believe this

The country, and the world for that matter, would currently be in better shape if the President immediately following election grabbed some soda and chips locked himself in a closet and played solitare for four years. He killed Bin-Laden, on that I commend him. For the rest of you, this translation.
Teabaggers= Tea Party
Revenue Enhancements= Tax hikes
Ultra-Conservatives= Those who think paying down the debt is good and doing the same things we did to get into debt is bad.
Dragging the country down= Blocking Washingtons confiscatory agenda/ Preventing increased debt.

Quote of the day " When you rob Peter to pay Paul you can always count on the support of Paul. If Paul speaks up accuse him of racism, extremism, wanting to kill the elderly etc..", 1st part(Don't Know) 2nd part( just made it up)

PAUL ST JEAN's picture

What has oBAMa done that you

What has oBAMa done that you want 4 more years of?

 's picture

Exposing

Exposing continued ignorance and arrogance within intelligence teams which use lower level radio technologies such as the DEA, FBI, and CIA in monitoring crime families and cartels. Instead of using equipment which provides a longer life a DEA agent testified under oath that he would rather use over the counter GPS monitoring and lower level batteries and equipment then what he could have used in truly monitoring the situations of arms being sold to cartels. The very same cartels who are now receiving digital electronic equipment from a host of retailers. While the retailers themselves and loss prevention associates are protected by private military contractors who are still under Bush-era (error) contracts. Of, course you have to love a pirate when they neglected to mention that pirated techniques in intelligence need not be mentioned. As well for all of the quoting of De Tocqueville he advocated racial segregation of the Arab communities between whites; is that what you believe as well Pirate?

Joe Morin's picture

Funny thing about that...

In my experience Arabs,( People indigenous to the Arabian Peninsula ) but in context we're probably talking about muslims, segregate themselves. I know a few and you would be surprised what they think. They find it curious that Christianity is demonized by the left in America which they view as Euro/Christian. While they use the liberal engine for their own devices, they loathe liberals the most for being atheists. In their eyes its better to have the wrong god than no god. The Muslims I know are the most socially and fiscally conservative peole you will ever meet. Here in America we practice religion, these folks believe it and live it. I believe they would refer to the far-left as "usefull Idiots".

PAUL ST JEAN's picture

Great post. I've often said

Great post. I've often said that if extremist Islam ever took over America, the first to go would be the liberals, but most of them are too dumb to know it.

PAUL ST JEAN's picture

If the first 5 sentences of

If the first 5 sentences of your post are in response to my question, "What has oBAMa done that you want four more years of?", I would ask, what have all these things you mention in your five sentences done for the unemployment rate, the national credit rating, the deficit, the stock market, the housing market, and the price of gas at the pumps?
As for your last question regarding de Tocqueville's alleged advocacy of racial segregation, frankly, I haven't given it much thought. What the Pirate wonders is, what do you believe?

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