300 Economists Warn Obama: Grave Danger Ahead

[FORD]

Got to agree... jobs growth should be the top priority. Extending the Bush tax cuts or even cutting taxes further is another key factor.

Job growth will increase tax revenue faster than anything. Thus helping the deficit. Tax cuts will spur investment and spending... which generally leads to job growth.

Simple logic... you don't make an engine run faster and more efficiently by starving it of fuel...

If tax cuts for the rich leads to job growth, then where the Hell are all the jobs that should have been created since Chimpy gave tax "cuts" to rich tax dodgers in 2001?

There are none, of course.

And the reason is simple. The rich already HAVE money to spend or invest. Tax cuts for the working class would provide a very temporary "stimulus" to the economy, because they DO usually spend "extra" money. How many people make their major purchases in the Spring, right after they get their refund checks back from the IRS?

But that doesn't apply to the ultra rich. They always have money to spend. They have money to spend NOW, and they aren't using it to create any jobs. At least not in THIS country.

Trickle down economics does not work. 30 years of a downward economic death spiral proves that beyond all doubt.

[FORD]

Damn! all that and not one word about the failed programs like THE WAR ON DRUGS, IMMIGRATION/ILLEGALS, NAFTA.

Let alone how those three issues are connected. Legalize drugs and repeal NAFTA, and the two main reasons Mexicans jump the border would be eliminated.

[Nitro Express]

Obama is a Marxist. He doesn't care about small business which by the way creates most the jobs. He talks about helping them but his healthcare law and the cap and trade he wants to pass will destroy small business.

He's either stupid to how economies work or he has an agenda to purposely ruin the US economically. Things are so bad with him the main focus politically is cleaning house in the US Congress so we can defund parts of the healthcare law, tie Obama up as much as we can and then get rid of him in 2012.

Once he's gone we can focus on repealing what him and Bush have done.

As far as paying off the huge deficit, it's so huge the govt. might have to inflate the US Dollar to pay it down. You can reduce huge debts by reducing the value of the currency and if the currency becomes worth zero you get rid of all the debt because the multiplier becomes zero. This is why huge debt is never good and the people who get it are getting out of US Dollar securities.

Obama is just going to continue to dig a huge hole and doesn't care what you or me or 300 economist say. The US public put a madman into office and now are paying the price.

[Nitro Express]

The US has become a huge debtor nation to foreign countries. What happens if we default? War. Now we won't have to pay the debt if we can defeat our creditors militarily. If we nuked China and Japan then there would be nobody to pay. Or we can trade vast amounts of federal land to pay off the debt. How much is Yellowstone National Park worth? Or Yosemite? Or the Grand Canyon? Most of Nevada is federal land. We could give those to China to settle the debt or we can duke it out. Or we can just inflate the US Dollar and then pay the debt off with vast amounts of printed worthless dollar. Those are the three options and only options.

[Dr. Love]

People making $250k or more a year don't need tax breaks. That is, until I make that much, and then get your damn hands off my money!

[Carloscda]

Obama is a Marxist. He doesn't care about small business which by the way creates most the jobs. He talks about helping them but his healthcare law and the cap and trade he wants to pass will destroy small business.

He's either stupid to how economies work or he has an agenda to purposely ruin the US economically. Things are so bad with him the main focus politically is cleaning house in the US Congress so we can defund parts of the healthcare law, tie Obama up as much as we can and then get rid of him in 2012.

Once he's gone we can focus on repealing what him and Bush have done.

As far as paying off the huge deficit, it's so huge the govt. might have to inflate the US Dollar to pay it down. You can reduce huge debts by reducing the value of the currency and if the currency becomes worth zero you get rid of all the debt because the multiplier becomes zero. This is why huge debt is never good and the people who get it are getting out of US Dollar securities.

Obama is just going to continue to dig a huge hole and doesn't care what you or me or 300 economist say. The US public put a madman into office and now are paying the price.

Your kidding right??!!

It just amazes me how Obama is negative name under the sun vs someone who is trying to help!!
To put his name next to Bush just shows me You have no clue!! What he & Bush has done to us, You mean what Bush did!!

Wars cost money!! In war video games perfect examples of how much money it takes to fund a war.
He lied us into the Iraq war and now look where we're at!! Common sense should tell you fighting 2 wars, where is all that money coming from??!!

I guess you & people alike just don't get that this is not going to be an overnight, over yr fix!! Took yrs to get in this mess & will take yrs to get out PERIOD!!

[FORD]

To say Obama is a Marxist is completely ridiculo us. Very much the opposite, really. He's actually trying to save capitalism. Problem is that capitalism as it now exists in this country (unregulated predatory capitalism) IS what's killing this country.

Small business cannot compete when most business sectors of any kind are dominated by 4 or 5 huge multinational corporations. Unless the regulations FDR put in place to save this country are completely restored, that will continue to be the case.

And Obama needs to start listening to advice from folks like these 300 people, and stop listening to Wall $treet fuckwits like Robert Rubin, Larry Summers, and Timmy the Inbred Elf Dentist.

[Nitro Express]

To say Obama is a Marxist is completely ridiculo us. Very much the opposite, really. He's actually trying to save capitalism. Problem is that capitalism as it now exists in this country (unregulated predatory capitalism) IS what's killing this country.

Small business cannot compete when most business sectors of any kind are dominated by 4 or 5 huge multinational corporations. Unless the regulations FDR put in place to save this country are completely restored, that will continue to be the case.

And Obama needs to start listening to advice from folks like these 300 people, and stop listening to Wall $treet fuckwits like Robert Rubin, Larry Summers, and Timmy the Inbred Elf Dentist.

Obama subscribes to the government redistrubing wealth and that is a total Marxist ideal but who he gives the regulating power to behind the scenes is corporate interests so that makes him what is termed a Marxist/Fascists. Instead of having an upper echelon of government officials which are in charge like the old Soviet System it is putting Oligarchs in charge who the average person has no idea who they are.

So what you are defining as capitalism Ford is actually monopoly. What is interesting is I went to the Soviet Union in 1978 with my parents and uncle. We had to attend a class on how communism would win over capitalism and they said capitalism becomes a monopoly in the end and then it goes communist. So they were right. We are on the way there.

I took a lot of economics classes in college and that is the big problem that neither system addresses well. When huge monopolies happen the government needs to step in and break them up but if the government becomes too regulating he government itself becomes the tyrant. What has happened in the US is the government and corporate interests have merged so that is fascism and it's a tyranny.

So Obama is more of a fascist since he's selective in what industries he goes after. If he was a true Marxist he would throw George Soros in a gulag and take his billions.

[Nitro Express]

Your kidding right??!!

It just amazes me how Obama is negative name under the sun vs someone who is trying to help!!
To put his name next to Bush just shows me You have no clue!! What he & Bush has done to us, You mean what Bush did!!

Wars cost money!! In war video games perfect examples of how much money it takes to fund a war.
He lied us into the Iraq war and now look where we're at!! Common sense should tell you fighting 2 wars, where is all that money coming from??!!

I guess you & people alike just don't get that this is not going to be an overnight, over yr fix!! Took yrs to get in this mess & will take yrs to get out PERIOD!!

Yeah Obama really helped us by signing that horrid healthcare bill into law which will only make the existing problems worse. Not to mention it sets up 150 additional government agencies and empowers the IRS even more. I see it as an extension of what the Patriot Act is. More government intrusion. Now not only can you go to jail for the rest of your life without trial for being suspected as a terrorist you can go to jail for not buying inflated health insurance. Did you notice how much the premiums went up immediately after the bill went into law? Not to mention how the banks jacked rates after we bailed them out and Obama did nothing.

Obama is as bad as Bush, he's just going to pull some troops out right before he comes up for reelection. Plus, the guy has wasted way more money than Bush or any other president ever has. Trying to fix things. Give me a fucking break. He could start with throwing Timothy Geitner into jail for tax evasion.

[Nitro Express]

Anyways, it amazes me the Obama sets up class warfare while he bends over to investment bankers on Wall Street. Since the connected rich like Tiny Tim seem to get away with paying no income tax under this president it should make people question why. This guy is out to ruin small business and small farms. He doesn't want anyone to be self-sufficient. He wants the corporate controlled government to run everything with the oligarchs exempt from any of the rules the rest of us have to follow. It's the same old game that has gone on for a long time but now the situation is desperate and Obama is only making things worse by spending record amounts of money bailing out crooks and sticking the pubic with the bill.

[Nitro Express]

There's two kinds of rich people. The ones who start companies and create jobs and the ones who hoard the wealth and send it overseas. Guess where much of the Obama TARP money has gone. Not here.

[Nitro Express]

But to be fair. Bush was going to give our ports to foreigners and he was sure pushing that North American corridor. Maybe Bush was the smart one. He got out right after the subprime/derivative fiasco hit and Obama was stuck with the shitty mess.

[Nitro Express]

If we were practicing pure capitalism we would have let the banks fail. Chase, Wells Fargo, Goldman Sachs, Bank of America, General Motors would all be gone. Along with them would go the derivatives that caused the mess and many people would not have to pay debt because the institution is now gone. What would be left would be the solvent survivors. What we have done is bailed all this out, kept the derivative scams going, and sacked future generations with trillions of dollars of debt and another derivative bubble with crash it again.

This is not capitalism because the big losers never fail, their friends in the government stick the loses on everyone else and the great Obama is part of this game.

[Mushroom]

the economists and capitalists love to measure by "growth" and they say the solution to our problems is growth. the politicians say growth. growth is the basis of most business models. growth growth growth. we want more growth. growth means more jobs. growth means more consumption. all we have to do to satisfy everybody is to keep growing.

[bueno bob]

Trickle down economics does not work. 30 years of a downward economic death spiral proves that beyond all doubt.

Anybody who thinks trickle down economics (or any other half-witted, numbskull dumbfuck treasonous Reagan policy) worked at all is far too stupid to be involved in politics. I think that oughta be obvious by now.