President Obama!

[klein]

Re: Obamanomics

If you follow Greece at all, I really don't know how Fox News represents it there, but here, they say they having been living over their own standards for to long.

Exactly the same is going to happen to the USA.
The EU is bailing out Greece under conditions that they need to cut spending and add taxes.
(SS , medicare, & retirement age is all effected).

If they don't agree with those cuts and tax hikes, the EU won't bail them out. Simple as that.

So, how long will it take China to do the same with the US ?
(If you want to borrow money - prove it you can, you have your house in order, and can pay it back in the future) !

It's not rocket science - just like any bank would approve credit.

 

[moreluck]

Re: Obamanomics

It's all greek to me !!

 

[Babagounj]

Re: Obamanomics

WOW you mean to say that all the Greek people who retired at age 55 will now have to give up their pensions and go get a job ?

 

[trplnkl]

Re: Obamanomics

they say they having been living over their own standards for to long.

Exactly the same is going to happen to the USA.

This is funny, I mean really funny. You don't even realize you just supported Morelucks statement of " Revenue is not the problem.....spending too much is" .

 

[klein]

Re: Obamanomics

This is funny, I mean really funny. You don't even realize you just supported Morelucks statement of " Revenue is not the problem.....spending too much is" .

Okay, lets go to the revenue problem:
Since Clinton, no budget surplus, only debt accumulation since !
Bush gave tax cuts and medicare part B without any sort of funding (= more debt ).
Now , just like a credit card, more on interest needs to be paid for the major debt (where is that suppose to come from) ? (= more debt).
With over 9% unemployment that equals to less taxable income = less government revenue (= more debt)

You have a huge shortfall of revenue now, and if spending is the problem - then you'll need a huge cut in spending (2 Trillion per year, about the entire cost of medicare and SS combined) to balance the budget.

Just remember the $548.000 every American household owns in National debt and liabilities, and figure out the interest payments on that alone.
If you owned that personally, you would probably need to get a second job to increase your own revenue.
Eating beans and wieners and KD dinner daily won't even help you out of that mess, because the interest on your debt alone will exceed your income needs.

 

[moreluck]

Re: Obamanomics

The newest jobless numbers out this morning.....429,000 !! It was worse than expected (duh). They were expecting 415,000. Ahhh, another summer of recovery!!

 

[moreluck]

Re: Obamanomics

We should be afraid......be very afraid !! Obama, Biden, Reid and I believe, Pelosi are meeting to discuss more stimulus !!! They want to "double down" !! Throw more money at the problem and maybe it'll go away. Remember, crazy is doing the same thing over & over and expecting different results.

 

[klein]

Re: Obamanomics

We should be afraid......be very afraid !! Obama, Biden, Reid and I believe, Pelosi are meeting to discuss more stimulus !!! They want to "double down" !! Throw more money at the problem and maybe it'll go away. Remember, crazy is doing the same thing over & over and expecting different results.

Don't worry, it won't pass anyways.
Wait until July when the reps demand cutbacks to raise the debt limit. It's actually a good thing !

 

[Babagounj]

Re: Obamanomics

I just love this current administration.
They says we must all make personal cuts, yet the FLOTUS has a staff of 25 , not bad for someone who has no official duties, afterall she is just the wife of the guy who got elected.

 

[moreluck]

Re: Obamanomics

30 million from our Strategic Petroleum Reserve. Gas prices were coming down already. He'll get a reaction downward (temporary), but it'll spike shortly after.(as history shows) The SPR is for use when there's a disruption in oil supply. What the heck is he doing and who is advising him??

 

[Babagounj]

Re: Obamanomics

According to press reports from the FLOTUS , the POTUS is always the smartest guy in the room.
So to answer your question, he's selling the reserves at a profit to fund his wife's travel plans.

 

[moreluck]

Re: Obamanomics

Eric Cantor (R) just withdrew from the "debt talks". Says the Dems. are insisting on spending. I'm sure it's because of sheer frustration over the nonsensical remedies proposed.

 

[moreluck]

Re: Obamanomics

John Kyl just left also!

 

[moreluck]

Re: Obamanomics

budget talks......

http://www.foxnews.com/politics/2011/06/23/house-gop-leader-cantor-pulls-out-budget-talks/

 

[The Other Side]

Re: Obamanomics

30 million from our Strategic Petroleum Reserve. Gas prices were coming down already. He'll get a reaction downward (temporary), but it'll spike shortly after.(as history shows) The SPR is for use when there's a disruption in oil supply. What the heck is he doing and who is advising him??

Moreluck, i would be more critical of you if I believed you understood the oil markets. I dont, so let me try and keep it simple.

The president realizes that the economy is still oil driven, and the oil markets have been manipulated for half a year now. After record profits in the first qtr of this year, the oil markets are slooooowly bringing prices down. The prices at the pump never go down as fast as they go up.

The oil industry is killing this country and our economy. Before an oil executive receives his 100 million dollar salary package, i will back my president when he drives the price per barrel down to 30 bucks. I will never stand on the side of an industry that is hell bent on screwing the american citizen.

Congrats to our president for his participation in the world release and wait until next month when its done again.

Oil production in this country is at the highest level in the last 10 years and yet prices are going through the roof.

Moreluck, betting against your own self interests is NOT very informed.

Peace.

 

[moreluck]

Re: Obamanomics

It still comes down to following the rules....SPR is for use when there's disruption of our oil supply........how's that for simple??

 

[moreluck]

Re: Obamanomics

from Dept. of Energy.....


Guidance for Requesting Emergency Oil from the SPR

If hurricanes or other unexpected physical conditions disrupt either crude oil imports or domestic production, the Strategic Petroleum Reserve (SPR) is ready to make replacement oil available to the extent approved by the President and/or the Secretary of Energy.​

 

[moreluck]

Re: Obamanomics

purely political and the timing may come back to bite him in the ***........

http://www.foxnews.com/opinion/2011...rategic-petroleum-reserve-isnt-political-atm/

 

[The Other Side]

Re: Obamanomics

purely political and the timing may come back to bite him in the ***........

http://www.foxnews.com/opinion/2011...rategic-petroleum-reserve-isnt-political-atm/

How would it come back to haunt him? The price of fuel will be resting neart 2.99 by september, in all the time inbetween, americans will benefit from the lower prices.

By september, libya should be back online and OPEC will be forced to produce more oil by increasing production. Market manipulation is a game that can be played by both sides. You just dont like it when the oil companies come out on the losing end.

There is plenty of oil in the strategic reserves and NOBODY needs to get there panties in a bunch over the release.

Obama gave plenty of warning 2 months ago after the oil industry recorded the highest profits in a single qtr. The reduction of prices wasnt fast enough and the economy was paying the price along with middle class americans.

With oil crashing on the world markets today, this sends a message to the oil industry that they better shape up or there will be more to follow.

You can thank Ronald Reagan for lifting the "price controls" on big oil during his term because he felt it would be good for the american public to have the free market dictate oil prices. HOW DID THAT WORK OUT FOR YA?

So far, under every republican president since, the american public has been screwed by OIL PRICES. Under both democrats in between, oil has lost and americans win. I as an american, appreciate when my president looks after MY best interests.

Thank you Mr. President.

PAX.

 

[moreluck]

Re: Obamanomics

As history shows, it's a temp. bump for him now, but a huge spike in oil prices will follow....maybe the start of summer 2012.....just in time !!!