The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.
Showing posts with label Obama Stimulus. Show all posts
Showing posts with label Obama Stimulus. Show all posts

Monday, January 29, 2018

Trump's Lies About the Economy and "Black Unemployment"

"The economy was collapsing faster than it did during the Great Depression. The month I took office, we lost 800,000 jobs. One of the things I'm proudest about is the fact that, within a year, we actually had the economy growing again." President Barack Obama.
Micro Trends Down Jones Industrial average 2007 to January 26, 2018. If you click the first link only do so if you are psychologically prepared to see the post-Bush Sub Prime Bubble (post-Obama Stimulus) upwards DIJA performance. If you wish to remain in the Trump carnival closet via believing Trump has done wonders for the US economy, you should not click the Micro Trends link. Living as a HIV (high information voters) requires avoidance and resistance to Trump's rhetoric feed for his LIVs (low information voters and frequent purchasers of his carnival tickets).

Trump's lie will be front and center of his State of the Union Address tomorrow night.
Interesting, Joe Scarborough, MSNBC Morning Joe host and former member of the GOP (and conservative) also address Trump's "black unemployment" lies. 
The claim of Trump serving as a messiah for black unemployment is as ridiculous as Trump saying he cares about the Dreamers. It doesn't take an Albert Einstein to understand improvements in the US economy means a higher employment rate for all demographic segments of the population.    

We digress in closing to make a point about Trump loyalist.

While related to another topic, let's take one last glimpse of how Trump's minions view the man.  After all, you have read and heard about Trump's personal sleaze, allegations of collusion with Putin to win in 2016,  his permanent state of golfing Vs leading, and the numerous cases of termination from the White House, there are people who still figurative purchase his carnival tickets.  How about the question of Trump as a role model for our children?

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Tuesday, July 8, 2014

Obama as A "Doomed" President. Think Again With A Bit Of Data

Some on the Right and far too many Independents are singing the song of "doom" for President Obama. Despite his record as the most active President since FDR (and possibly more active in act initiatives and measures through Congress), Obama continues to catch the negative side of reporting.

One noted Republican who works as news director at MSNBC, literally declared the president's administration "over" based on an NBC/WSJ poll of slightly over 1,000 respondents. If you think the number is a standard sampling number, factor-in the reality that a majority of those polled fell into demographic groups that historically vote Republican.

Chuck (with libido rhetoric intact) Todd. 

Chuck Todd as an MSNBC news director is encouraged, and allowed, to declare a presidency "over?" Before we moving to the NBC/WSJ poll, a quick word on Todd: "....he is hardly a neutral news director."

We now have another media/poll related kerfuffle. Quinnipiac has polling results with Obama as the "worst" and the "fourth best" president since WW II. 

The Quinnipiac poll has questions that are starkly divergent relative to Obama's leadership. Survey results indicate findings from demographic groups with respondents who were not alive during the period in question. Asking a millennial about Obama as a pros'best' president against president as far back as Richard Nixon nature survey  that yielded results that are almost comical. The Daily Banter's Tommy Christopher and Bob Cesca have addressed the Quinipinac pollThe Daily Banter again provides stellar reporting on an issue critical the nation, and I will admit to bias towards their position. People buy into poll result reporting without seeking information related to the respective polls. Christopher reports the respondent group was, again, filled with white males. According to Cesca's five points of ridiculous regarding the Quinnipiac poll, number four reads as follows. 
4) Consider the source. As Tommy pointed out yesterday, most of the respondents were white conservative men. No wonder the results are so wacky.
People are influenced by poll reporting along the same line as we are influenced by media reporting. When media grabs polling results that cannot stand as credible after basic scrutiny of survey tool methodology, media effectively becomes mere propagandist.

President Obama stands tall as an effective leader who has not only kept the US out of more wars, his policy and economic team pass the test of competent and effective. 

As you review the following economic data (graphs and charts), I ask you to remember GOP lack of interest in the Obama Stimulus, GOP aversion to loans to the auto industry (excluding Ford Motors), and GOP lack of support for the unemployed who may have become unemployed via GOP economic policy.

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Ending on a purely economic note often doesn't impact people who have little to no interest in data they feel doesn't affect their every day lives.  Please Cut The Crap Blog has a list of 245 accomplishments attributable to Obama and his advisers and policy team. 

Singing the song of doom for Obama, is singing with false verse. Alternative administration from the Right means re-establishment of Trickle Down economic policy, tax cuts that disproportionate benefit the wealthy, insensitivity against those who become unemployed, and regressive social policy that directly oppresses minorities and women.


Friday, August 30, 2013

Boehner Threatens "A Whale Of A Fight." Captain Ahab Said The Exact Same Thing!

John Boehner. ".....Obama is in for a “whale of a fight” over the debt limit."


                                    There is no surprise in the statement above. Since President Obama took office, we have witnessed debt limit battles each fall. Do you remember the battle in 2011?
Standard and Poor's downgraded the US AAA Credit Rating in 2011.
“The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics,” S&P said in a statement late yesterday after markets closed.
The other two Credit Ratings authorities responded to the 2011 kerfuffle as follows:
Moody’s Investors Service and Fitch Ratings affirmed their AAA credit ratings on Aug. 2, the day President Barack Obama signed a bill that ended the debt-ceiling impasse that pushed the Treasury to the edge of default. Moody’s and Fitch also said that downgrades were possible if lawmakers fail to enact debt reduction measures and the economy weakens.
Standard and Poor's (August 5, 2011)

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

The debt limit is kind of a financial weapon of mass destruction chained to the United States government by the United States government.
Confused? Then it's time for The United States debt limit Explained.  
To understand the debt limit you need to know the US splits financial responsibility between the president and congress.  
The president has two jobs when it comes to money:
1. Collect taxes and... 2. Spend those taxes to run the government. 
This might give you the impression that the president, with regards to money, is all-powerful. Especially when you hear news reports on 'the president's new budget' or his plan to 'raise taxes on haberdashers' or 'lower taxes on apiarists'. 
But reality is just the opposite and the president is the one who takes orders.
From whom? 
Congress has the jobs of setting the tax level and determining how much the government will spend by writing a budget.  
So while the president does get to submit budgets to congress, and asks for changes in the tax level, these are just requests that congress doesn't have to pay attention to. 
Congress can add or subtract anything they want from the president's budget or throw it out entirely and write a new one.  The same goes for the level of taxes.
So congress decides what it wants: bridges, tanks, buildings, courts, robots on Mars, robots on Earth, National Parks, whatever and approves a budget with that stuff in it.
Once approved the president's is required by law to spend the money Congress listed in the budget and pay for it using the taxes that congress set.* 
As long as more taxes come in than spending goes out everything is fine.
But, almost always, Congress puts more stuff in the budget than they cover with taxes which means the president must borrow money to cover the difference. 
In most countries the story ends here because if their legislatures approved more spending than they have income, they've also implicitly approved the necessary borrowing -- but not in America. Here Congress also limits the total amount of debt the United States can have.  
A debt limit sounds like a good idea until you see the real-world consequences of these two branches of government interacting. 
As the total amount borrowed gets closer to the limit, Congress usually points to the president and acts shocked, shocked that his reckless spending has brought us so close to the debt limit that they, reasonable, prudent Congress have set.  
And while it's technically correct that the president has borrowed this money, congress has forced him to do it, by approving a budget that the president is legally obligated to spend without also approving the necessary taxes to cover that spending. 
So the debt limit fight is essentially the government version of the playground favorite: 'stop hitting yourself' except with added terror for everyone watching. 
For, it's important to note, the debt limit is not about future spending -- it's not a credit card on which the limit will be raised so a crazy government party can be thrown -- the debt limit is about paying bills already incurred.  
For example, the government hires a company to repave a federal highway. But if the US is at the debt limit, when the company asks to be paid after the work has been done, the government can't. This shakes trust in the US and since large parts of the global economy depend on the dollar being trust worthy, messing with that trust is a big deal. 
But there is a way out: Congress can raise the debt limit and, because of the aforementioned terror, they always have.  
So… if not raising the debt ceiling is potentially disastrous and the solution is simple and always taken in the end: why does this debate last months‽ 
Because: politics.
The debt limit isn't in the constitution, congress created it themselves and from their point of view, the debt limit is awesome because: 
1. It creates a problem that...2. Congress can (technically) blame on the president who... 3. Needs the solution that only they can provide
Congress gets to use the threat of mutual financial self destruction as leverage in negations that they benefit from extending until the last… possible… second.  
Special Thanks:
Neil H. Buchanan & Kyle McMahon.Credits:
Music: David Rees. 
Images: The Noun Project, Jonathan Keating, Luis Prado, Andrew Forrester, Juan Sebastian Rickenmann & Anuar Zhumaev.
Let's be clear: 
"For, it's important to note, the debt limit is not about future spending -- it's not a credit card on which the limit will be raised so a crazy government party can be thrown -- the debt limit is about paying bills already incurred. " 
It has been reported Boehner has "gone specific" in stating the prescient must consider reductions (Or some sort of spending intervention) in Medicare and Social Security. Boehner and all in the GOP as well as their uber wealthy plutocrat handlers, know the debt limit relates to 'expended borrowed' funds.  Thus, the debt limit is about the business of repaying debt to facilitate additional borrowing.  Unfortunately, borrowing is a reality. GOP threatening Medicare and Social Security (with no interest in increasing revenue) is effectively holding the US and foreign investors 'hostage" to GOP economic malfeasance.

In 2011, we also experienced a serious 'blip' on the Dow Jones Industrial Average.  You should pay specific attention to the chart trend line between the end of 2008 and March 2009 (just after the Obama Stimulus was enacted). Also notice the significant 2011 dip (blip) in DIJA growth as the GOP pushed the nation to a Credit Rating downgrade. 
Chart forDow Jones Industrial Average (^DJI)
Yahoo Finance 
While there is no "look-back" guarantee, DIJA history has shows a steady trend increase since the Credit Rating downgrade  If we take-away the  GOP induced blip in 2011, investor portfolios would appear much more favorable.  For non-investors the blip might have influenced the cost of loans, the cost of food, the cost of other critical services. Additionally, the blip generated another affect. The DIJA (and the market) might have reached performance levels even beyond the historic levels of the past year.  How about a DIJA over 16,000 if the GOP had not induced the Credit Rating downgrade?  Of course, that is pure speculation, but a case can be made that existing market performance could have been even more historic. Do you think the GOP relishes the current record markets?  [Hint]
Boehner knows Democrats will not give on Medicare and Social Security.  We all know the GOP will not increase taxes on the nation's wealthy. So, as a liberal my heart and mind tells me to follow the path with recent evidence of success. On other hand, that means avoiding the 'trickle-down' 
garbage from people who care little about middle and low income America.

We will close with two graphics....
Well, one more chart.....
01a Bush vs Obama Deficit

Don't follow a party that has proven in fiscal policy and economic performance to a place of no return. We almost went there with Bus/Cheney. The Speaker stated in 2011 "he got 98% of what he wanted.'  I wonder what per cent he assigned to the S & P downgrade and the blip in our markets? Do you see my point with the "HINT" above?
Boehner should know, "Sometimes the whale wins."

Thursday, September 27, 2012

Combating Recession to Ward Off Economic Depression

President Obama catches much static about the economy.  While the static comes from the Right and seems to be manifest in many independents, I have to say people on the Left do to stand-up to the 'rhetoric'.  Yes, there is strong reason to stand tall against the rhetoric.  

We hear about eight plus per cent unemployment. It is a stifling level of unemployment which correlates to millions who are out of work.  While most do not think beyond today and yesterday, I am certain many can remember unemployment above 10 per cent.  Lest we forget, President Obama never once said, stimulus would lower unemployment to six per cent.  His economic team has to take blame for those statements, and a couple of those advisers and cabinet members are no longer in the White House. In actuality, the statements were made based on approval of a Stimulus at $1.2 Trillion; actual Stimulus was approved at $743 billion.  As Paul Krugman and other credible economist stated, "that is too small". The economic impetus was far smaller than desired and was less effective than had the Stimulus passed at the $1.2 Trillion level.  But, we do not focus on fine details, we reach for what is in front of us today and what we remember from yesterday.

Since the US economy is totally dependable on people working and jobs, allow a few charts (w/comment) about President Obama and the turn-around economy.

We forget, or do not care about.......

The US Auto Industry