"Obama's Disastrous 'Summer of Recovery'"

[TomCADem]

I wonder how many DUers agree with the sentiments expressed in this opinion. Rec if you do. Unrec if you don't.

Just how liberal and left are you?

http://www.foxnews.com/opinion/2010/08/26/karl-rove-obama-white-house-summer-recovery-unemployment-credibility/

In what will rank as one of the all-time presidential P.R. disasters, we're now well over half way through what the White House called "the summer of recovery." And what a recovery it's been.

Earlier this month, first-time claims for unemployment hit a nine-month high. The unemployment rate remains at 9.5% and 18.4% of workers are out of a job, can only get part-time work, or have given up looking for a job altogether. Sales of existing homes dropped 27% from June to July, hitting the lowest point since data were first collected in 1999. The Conference Board's Consumer Confidence Index fell to 50.4 in July, continuing a slide that started in February. And the stock market is down 11% from its peak in April.

All of this has helped shatter public confidence in the president. In early May, Mr. Obama's approval on the economy in the YouGov/Polimetrix poll was 42%. By mid-August, it was 35%—a frightening number for Democrats less than 70 days from a midterm election. According to this week's Reuters poll, 72% are "very" worried about jobs and 67% "very concerned" about government spending.

Mr. Obama's credibility is crumbling, and for good reason: He and his people are saying things people don't believe. At the start of his summer of recovery road show, the president flatly asserted that last year's massive stimulus package had "worked." Vice President Joe Biden, not to be outdone, promised monthly job gains of up to 500,000 and insisted that the recovery's pace "continues to increase, not decrease" as stimulus spending was "moving into its highest gear."

[spanone]

1. fukfaux

[bigtree]

2. if his 'credibility' falls on bad econoimic news

. . . it should rise if the economy begins to recover (as many expect) early next year and beyond. If his prescriptions prove correct he and our party will reap the political benefits.

It's easy right now to point to the effects in this term of the Bush republicans' past incompetence, but, as in the Clinton era, sensible economic policy brings about recovery and growth. It will happen.

I'd delete this thread and rid the board of this FOX tripe.

[otohara]

3. FOX Cares

thanks for posting this, journalism at it's best.:sarcasm:

[geckosfeet]

4. speaking of things people do not believe ...

[jtuck004]

5. There are two parts - the facts and the opinion

Just how liberal and left does one need to be to ignore facts?

"Earlier this month, first-time claims for unemployment hit a nine-month high. The unemployment rate remains at 9.5% and 18.4% of
workers are out of a job, can only get part-time work, or have given up looking for a job altogether. Sales of existing homes dropped 27% from June to July, hitting the lowest point since data were first collected in 1999. The Conference Board's Consumer Confidence Index fell to 50.4 in July, continuing a slide that started in February. And the stock market is down 11% from its peak in April."

Those are facts. In any month where we don't creat 300,000 new jobs from now on out, we are guaranteeing 10 years of double digit unemployment. TEN YEARS. It is a fact that this administration allowed the Treasury and Federal Reserve to allocate over $7 trillion for a program that started with a $700 trillion TARP bailout, a program that is likely to wind up costing us slightly over $3 trillion in money that will be kept in the pockets of the bankers. At the same time much was made of an $800 billion program for infrastructure - why are they worth so much more? We know that that it was a choice, pushed hard by people in the administration with significant realtionships to Government Goldman Sachs (especially) and the other 5 of the largest banks. They could have had the FDIC restructure those institutions and break them up into smaller pieces, fire the people Geithner and Bernanke had spent so much of their free time with, and start investigations into criminal misconduct, which would have taught that 1) Screwing over American citizens and others is not a wise thing to do, and 2)The taxpayers are not going to bail out bad decision making.

Instead what they learned is that there is no penalty for bad decisions. President Obama stood in front of these captains of greed, who have cause so much tragedy and potentially the end of our economic system, certainly guaranteeing at least a decade of high unemployment and the utter ruin of many families, especially people in their 50's, and said "My administration is the only thing between you and the pitchforks".

So if he's got their backs, who the hell has ours? Where is the program that will re-employ 20 million of the 30 plus million of our neighbors that have lost their homes, or jobs, or both. Where is the program that will give us the same relief from debt that AIG or the big banks got? Where is the program that will expand Social Security so that 50 years olds who have been fired will not have to figure out how to live for another 10-15 years so they can grab the lowest rung of Social Security before they die?

The other side of that article is a bunch of opionated crap, and it doesn't take much to see through it. But to ignore that the stimulus, while it did work and did save some jobs, was insufficient and needs to be augmented with much more is neither left nor right. It's just ignorant.

If the Democrats lose in this midterm, or in the presidential election, the fault won't lie with the idiots at Faux News. The responsbility will be with the people we elected. And with us for not pushing them harder, and instead spending our time asking people to prove their "liberalness". I bet Joe McCarthy is just laughing in his grave.

[TomCADem]

7. The Issue With Karl Rove's Opinion Is How He Gives Republicans A Free Pass Sorta Like...

...Your post. Republicans have filibustered at a record setting pace, which has forced the Democrats to scale down many proposals. Worse, like your post, the media not only gives them a free pass, but repeatedly amplifies upon their talking points.

Likewise, you only mention the stimulus, but what about the auto industry rescue, as well as the billions in direct aid to state to prevent the layoffs of millions of public employees.

The "fault" lies in the artificial recovery of the 1990s, which was driven entirely by relaxed credit due in no small part to Bush's promotion of home ownership to create an "ownership" society where no one actually owned anything.

[jtuck004]

13. Yea I mentioned stimulus - too small, too little

They can set aside $15 trillion for banks and only $800 billion for Main Street? The Repubs say it didn't work, I said it wasn't enough. There is a difference, even if it's too subtle to the person trying to twist facts to their distorted position.

And finger pointing at the Repubs doesn't solve the problem. Just more excuses. And if that's all they got to point to, that's worse than sad.

And this may come as a shock, but in answer to this:

"The "fault" lies in the artificial recovery of the 1990s, which was driven entirely by relaxed credit due in no small part to Bush's promotion of home ownership to create an "ownership" society where no one actually owned anything."

Clinton was president in the 90's - Bush wouldn't come along to destroy everything for a few more years. And Clinton's success was due to government investment in ARPANET, which became the Internet, and tax increases which had the wealthy paying a more fair share for what they have taken from this nation.

[Unruly]

6. It's got nothing to do with Fox News . . .

. . . quite obviously, "The Summer of Recovery" was ill conceived, since, on its face it lacked credibility. With unemployment high and rising and economic growth low and slowing, promoting the positive effects of the stimulus was pissing in the wind and the inevitable happened.

[COLGATE4]

10. They were pissing on our legs and telling us it was raining.

[Unruly]

11. Brilliant!

[L0oniX]

8. Anti war groups FBI disappeared ...Bush is still free ...gov spies on us all ...war for the MIC...

TV making a joke of out sourcing our jobs ...Wall Street continues to get millions in bonuses ...health insurance companies raising rates and denying policies for children ...media obsessively focused on wack job teapukers ...UN creates ambassador for UFO aliens ...Gulf of Mexico is dead but the oil disappeared ...the killing of the innocent continues ...the Bush crime syndicate goes unpunished ...renditions continue ...people still denied day in court ...presidential hit squads ...lobbyists still infect DC ...most Democrats still spineless ...blue dogs and DLC are up the repukes ass and liking it ...supreme court gives away the ball game to corporations and now they are sponsoring every stinking stupid ass repuke campaign ...poverty rate increases ...can't trust anyone or anything anymore ...gov sites distribute propaganda ...corporate shills infecting blogs ...schools and teachers edu-jacked ...sociopathic greed runs wild ...agent Mike is hauled off to the hospital because he can't stop laughing

[HughMoran]

9. Good point

Missed by most. :thumbsup:

[SidDithers]

12. Unrec for foxnews link...

I don't care what it says.

Sid