Obama: Worse Than Hoover

[Capt Bringdown]

Worse than Hoover
(http://neweconomicperspectives.blogspot.com/2011/07/by-marshall-auerback-its-actually-bit.html)

Unlike President Hoover, who inherited the foundations of a huge credit bubble from the 1920s and found himself overwhelmed by it, this President is worse. He is, through his actions, creating the conditions for a second Great Depression because of his misconceived belief that too much government spending “crowds out” private investment, and takes dollars out of the economy when it borrows. And therefore, goes the perverse logic, when the government stops borrowing to spend, the economy will have those dollars to replace the lost federal spending.

[DarrinS]

Oh, another "the stimulus was too small". Uh, ok.

[scott]

his misconceived belief that too much government spending “crowds out” private investment, and takes dollars out of the economy when it borrows. And therefore, goes the perverse logic, when the government stops borrowing to spend, the economy will have those dollars to replace the lost federal spending.

Sorry I don't really follow politics, but do people actually believe that Obama really believes this? Because the actions of our Government during his administration would certainly suggest otherwise.

[DarrinS]

It is rare that a president is so disliked by both conservatives and progressives.

[fraga]

Hey leave Bush out of this...

[DarrinS]

Hey leave Bush out of this...

Good point. Sad when I start missing Clinton.

[fraga]

All he did was have too much love to give...

[scott]

It's amazing how shitty the Presidential field is when Bush was able to win a second term and Obama likely will too. When the Presidential Elections roll around, America just says "ah fuck, really?" and picks the one Simon Cowell would make fun of least.

[DarrinS]

It's amazing how shitty the Presidential field is when Bush was able to win a second term and Obama likely will too. When the Presidential Elections roll around, America just says "ah fuck, really?" and picks the one Simon Cowell would make fun of least.

There's actually some truth to this.

[scott]

I think it was Lewis Black who used to do a joke...

"The only thing worse than Republicans and Democrats fighting is when these two cocksuckers work together. And when they do come up with a bipartisan bill, it's basically just a Republican standing up saying 'I have a really shitty idea!' and a Democrat following him saying 'And I know how to make it worse!'"

[ElNono]

What really kills me is the lack of balls on either side to pull through with what they preach. Not long ago Republicans had full control of government, and didn't do shit about the debt other than grow it passing stuff like Medicare part D. Democrats then had full control of government, and if they thought the stimulus needed to be bigger, there was nothing really stopping them from actually passing a stimulus as big as they wanted.
Trying to cover-your-political-ass, they all end up with half-assed non-solutions that only make things worse. And with the special interest money now being shielded from scrutiny, it really has become a very perverse system.

[Fabbs]

http://www.boomertoyou.com/wp-options/upload/2011/04/edith-archie-bunker-1001-300x202.jpg
"Mr. we could us a man, like Herbert Hoover, agaaaain."

[Winehole23]

Gee, our old LaSalle ran great!

[Winehole23]

I think it was Lewis Black who used to do a joke...

"The only thing worse than Republicans and Democrats fighting is when these two cocksuckers work together. And when they do come up with a bipartisan bill, it's basically just a Republican standing up saying 'I have a really shitty idea!' and a Democrat following him saying 'And I know how to make it worse!'"And then the result fucks the both of them.

[Winehole23]

And the rest of us into the bargain.

[boutons_deux]

Barry, even Wall-St-sucking Barry, or any Dem is better than the Repugs controlling the WH as well Congress and SCOTUS.

The "government is the problem" Repugs would again misgovern this country into a deeper and longer Banksters' Great Depression, while protecting and enriching the corps and capitalists.

eg, the Repugs in 2010 ran on "where are the job" but have done nothing but destroy jobs while proposing to destroy millions more jobs and cut deeply taxes on the wealthy and corps.

[RandomGuy]

I think it was Lewis Black who used to do a joke...

"The only thing worse than Republicans and Democrats fighting is when these two cocksuckers work together. And when they do come up with a bipartisan bill, it's basically just a Republican standing up saying 'I have a really shitty idea!' and a Democrat following him saying 'And I know how to make it worse!'"

Lewis Black FTW