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Democrats Drive an Economic Downturn
Harry Reid says coal and oil are "making us sick." But it's really he, Pelosi, and Obama that make the economy sick.
Remember the grief Dick Cheney received in late 2000, and then President Bush in early 2001, when they were accused of “talking down the economy”?
In summer of 2008, House Speaker Nancy Pelosi, presidential candidate Barack Obama, and Senate majority leader Harry Reid aren’t merely talking the economy down; they’re taking it down.
They have created what I am calling the POR (Pelosi-Obama-Reid) economy. Businesses and investors are responding to their total lack of seriousness by battening down the hatches and preparing for the worst.
Businesspeople now face ugly realities. Their full ugliness has only come to the fore in the past month or so, as energy prices have reached record highs, and as the clamor for Washington to act has grown.
The POR response to the clamor has been shockingly out of touch:
- Pelosi continues to insist that “we can’t drill our way out of our problems” — so the U.S. shouldn’t expand drilling at all, while other countries continue to drill merrily away.
- Reid claims that we have to get away from using coal and oil as soon as possible because they’re “making us sick.” It seems that if Harry had his way, we wouldn’t drill at all, or, for that matter, even dig at all.
- Obama thinks it’s okay that energy prices are at record highs; he just wishes that the increases had been more gradual. What a guy.
- Obama also wants a windfall profits tax on the energy sector, which in the real world would redirect money to the government that would largely have been used for exploration and expanding production.
- The courts also pitched in. Expanding the scope of a 2007 Supreme Court ruling that forced the Environmental Protection Agency to regulate CO2 emitted by cars as a pollutant, a Georgia court stopped a coal-fired plant from being built. Gleeful environmentalists are demanding “an end to conventional coal.” Expecting Pelosi or Reid to stop this madness is a pipe dream.
Each and every one of the above is a callous, “let them eat cake” response to a serious problem. We can debate from here to eternity when and whether alternative fuels and energy sources will ever become viable, but right now you can’t power most existing cars, trucks, or fleets with any of them. If fuel and energy become prohibitively expensive for businesses, it will be that much harder for them to be profitable, perhaps even to remain viable. Who would have thought that the three stewards of the POR economy would be so indifferent to the further suffering they have inflicted on their party’s union base at Detroit’s already-struggling Big Three?
Who can be surprised that businesses are reluctant to hire more people or to replace them when they leave?
Pelosi-Obama-Reid’s energy irresponsibility has been a major contributor to the stock market’s recent swoon. The Dow Jones Industrial Average posted its worst June performance since 1930. Earnings estimates are being lowered en masse.
Investors also face the real prospect of brutal tax increases:
- Beginning in 2009, the Bush tax cuts will begin to expire unless Congress acts to extend them. Obama has stated that he will “only” impose pre-Bush tax rates on the highest earners, thereby sucking about $160 billion a year out of the economy. Republican presidential candidate John McCain supports extending the Bush cuts; how he would get them through the Democratic Congress it seems he will face is not known.
- Obama further wants to siphon even more money from the economy ($40 billion or so) by imposing the Social Security payroll tax of 12.4% on all wage and self-employment income above $250,000.
Make no mistake: Harry Reid, Nancy Pelosi, and Barack Obama are the people who are making the economy sick. I don’t see how anyone can push this off on George Bush; the economy was picking up some steam, despite the housing industry and mortgage credit problems, until the Pelosi-Obama-Reid triumvirate made clear its intentions to put an energy chokehold on the economy.
These three and their party appear not to care one whit about the damage ever-higher energy prices and the prospect of punitive taxes are doing, right now, to both the economy and the stock market. They have set and reached a new low in legislative negligence, one that I believe took businesses and investors by surprise.
The only things that could mitigate the negative growth that I’m afraid has begun are whatever juice is left in President Bush’s supply-side tax cuts and the positive impact of the economic stimulus checks. I believe that they will, at best, keep growth barely positive. I don’t see them doing much for employment.
This POR economy is an advance demonstration of what an Obama administration would be like. Democrats hope that they can lay the blame for the sputtering economy on George Bush and John “McSame.” Will enough voters recognize this cynical gambit and reject it at the polls?
Tom Blumer owns a training and development company based in Mason, Ohio, outside of Cincinnati. He presents personal finance-related workshops and speeches at companies, and runs BizzyBlog.com.
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45 Comments
1. Jvette:Unfortunately most people will believe that it is Pres. Bush who is at fault. The Democrats, with their willing accomplices in the media, have so skewed the news that it is hard to change the general perceptions out there. Perception is 9/10ths of reality and they have successfully convinced the majority of people that Bush lied us into war, the war is lost, the economy is a result of the Bush tax cuts for the rich and that he is only interested in helping his “big oil” friends. And when they take over and things really tank, they will blame Bush again.
Jul 10, 2008 - 1:09 am 2. Tom Blumer:Jvette, although It will be very tough to make this case consistently, at least for the moment it’s obvious that POR are the ones who don’t want us to drill more, regardless of the consequences. If they relent on that, or make it look like they’re relenting on that, the case will be tougher to make.
Jul 10, 2008 - 2:13 am 3. BizzyBlog » Latest Pajamas Media Column (’Democrats Drive an Economic Downturn’) Is Up:[...] It’s here, with a good tease: Harry Reid says coal and oil are “making us sick.” But it’s really him, Pelosi and Obama that make the economy sick. [...]
Jul 10, 2008 - 3:16 am 4. sbourg:Tom,
Jul 10, 2008 - 4:14 am 5. sbourg:Beautifully and logically written — also, obvious to those of us who haven’t been brainwashed by the MSM. How is it that 90% of journalists, and the executive editors of major newspapers and network news, want SO BADLY for a Democrat to win the White House, that they don’t let their brains think the obvious? This is turning out to be the downfall of our economy…….an utter cluelessness by too many potential voters as to the simple truths that guide our economy, and simple, governmental roadblocks currently bringing down our economy. Because of the irresponsibility of the MSM, we are headed for an election that’s dominated by voters who don’t know how damaging Clinton’s vetoes on drilling were, and the pathetic energy policies of at least 41 Senators with their filibusters since ‘00. Our blame should be placed squarely on the ineptness of voters, and not so much on idiots like Reid, Pelosi, Obama, Clinton, et al, who are only in office b/c of the voters’ ignorance of causes and effects of too much governmental interference.
Tom, an idea for future writing:
Jul 10, 2008 - 4:27 am 6. hdgreene:Why is it that our Dem-Socialist legislators, and many journalists, just LOVE the Scandinavian countries’ model of high-taxes and nanny-state, cradle to grave entitlements……….and the clean air and water in those countries…………yet, if you pull back the curtain to see how they can keep their economies afloat you see a few simple truths. Norway has almost 50% taxes on their GDP (compared with about 35% in the U.S.)………and yet their economy is pretty good. Why? Well, the simple answer is that they can overcome their choking taxation, because……….they mine and drill the living daylights out of their land and sea! And they have fairly rich natural resources of oil and natural gas that they aggressively exploit and sell to other countries. And yet their environment hasn’t been ruined! Why don’t our Democrats learn the WHOLE story about the Norwegian “model”? By the way, I think our 35% of GDP taxation should go down, not up, b/c we need a vibrant capitalist economy to compete in the world for many of our products. But Norway’s an example that’s useful to learn about.
Tom, good stuff. For what it’s worth, I agree.
Right now the most important members of OPEC are the Democrats in Congress. OPEC keeps the price of oil up by limiting supply. Some OPEC politicians do this through deliberate policy. Others through sheer incompetent management of state oil companies. But the Democrats keep more oil off the market than any other national group of politicians.
Big Oil is now Big Government — Immense Government — and little oil. Government’s now own almost all the Major Oil Companies — some are run as if owned by the Tyrant in charge. In the US, government regulation is constant and fierce. When the majors where private companies, gas was cheap and plentiful. It is now Big Government — little oil.
When we import oil we export jobs. It’s funny (not) that the same politicians who would do “import substitution” if the government commands it — and claim to create jobs — will actively stop “import substitution” when the market demands it. And effectively export hundreds of thousands of good paying jobs to foreigners. When the Democrats import oil the we in the US could economically produce ourselves they: export our jobs to foreigners; increase the trade deficit; tank the dollar; spur inflation.
The Democrat’s team should be called the Washington Handicappers. Handicappers put weights on fast horses to slow them down. They assign artificial burdens to some of the players. The Democrats pile it on whole sectors of the economy. They are The Washington Handicappers and proud of it. In fact, it’s their platform.
Jul 10, 2008 - 5:09 am 7. Tom Kelly:Thanks for writing what has been apparent for some time. This is a meme that needs to gather strength.
We don’t have to predict that Obama will hurt the economy- we are in the Obama economy right now and a vote for him is a vote for even more misery.
Jul 10, 2008 - 5:11 am 8. Joe C.:POR economy = “The Democrat Effect” = economic terrorism
“The Democrat Effect” – the rational response by firms to prepare for the inevitable insult to the economy from unsurmountable regulation, litigation, and taxation to come. These policies are absolutely purposeful, hence the term “economic terrorism.”
The ultraleftsists (a.k.a. mainstream Democrats) need social and institutional collapse in order to attain power so that they can “rebuild” the U.S. in the image of the Left’s great ideological success stories – USSR, Cuba, and Subsaharan Africa.
Jul 10, 2008 - 5:26 am 9. WR Jonas:Good story. My view is that the best message is a comparative sentence. It clearly frames the Dem
Jul 10, 2008 - 6:00 am 10. BackwardsBoy:ocrats as out of touch fools.
Democrats want to squander billions on a crisis that doesn’t exist but won’t lift a finger to solve a crisis that is destroying our economy.
Simple ,sure and effective
If the Republican party had any sense, they would make the Democrat’s mishandling of the economy issue number one for the coming election. All they would need to do is point to the decline in stock market value and the rising costs of everything as evidence. Our only hope is that we as a country recognize the obstructionists and remove them from office (remember Tom Daschle?). Is it any wonder that Congress’s approval rating is at an historic low?
Jul 10, 2008 - 9:08 am 11. Ratatosk, Squirrel of Discord:Well, I’m not a fan of those three, but I think this article continues to push a bad idea…
We are NOT dealing with an Oil shortage, we are dealing with expensive oil because of speculation and the poor state of the dollar. More oil drilling anywhere (Saudi, ANWAR, Offshore) is NOT gonna change the price. It will just provide more material for investors to safely store their money in until the stock market once again looks safe. In the lo9ng term, we surely need to either use domestic oil source or alternative fuels. However, until the dollar comes back, the stock market recovers and investors go back to that market… ANY fuel source will be artificially expensive, because it is a guaranteed safe bet, be it oil, gas or biosomethingorother.
More taxes won’t help, less drilling won’t help… getting the Dollar back on track will.
Granted, I have no idea how we’ll pull that off, given that we’ve borrowed a trillion dollars from China, but I’m sure we’ll come up with a solve, hell, we’re America!
Jul 10, 2008 - 9:38 am 12. Jvette:Tom, what I hear on the news is that the oil companies have millions of leases to drill but choose not to do so in order to falsely maintain the high price and therefore their HUGE,RECORD PROFITS. The oil execs say that the majority of those leases will not yield enough oil to warrant drilling there. My point is that the average listener will remember only that the oil companies have million of leases to drill which go unused.
It will be next to impossible to dispel that myth.
Jul 10, 2008 - 9:48 am 13. Will Becker:If the Republican party had some backbone,they could cool the Democrats poo poo.Wake up America,demaned they do their job. they work for us remember.
Jul 10, 2008 - 9:53 am 14. Joe C.:Speculation IS supply and demand, along with the value of currency. A strong(er) dollar WILL decrease the price, but to say increased supply of an inelastic commodity with few economically viable substitutes (at least for the next few decades) doesn’t matter is nonsense, especially in light of increasing demand – estimated to be 50% greater in the next 25 years.
With respect to T. Boone Pickens, if there are 8 million natural gas powered cars in the world, that means that they make up ~1.3%. If in the next decade, this number quadruples, we’re still looking at a relatively insignificant offset compared to the total increased demand for oil-based fuels and products.
Jul 10, 2008 - 10:11 am 15. Bel Air:Re. Obama’s Social Security increases, I’m sure the ‘value’ of this is being over estimated. Corporations are not collections of fools: compensation will simply shift from salary to non-salary compensation. On the other hand, compensation centered on performance (the effect of shifting from salary to stock option awards) may be a good thing. So Obama may be right for the wrong reasons here.
Jul 10, 2008 - 10:32 am 16. David Thomson:“we are in the Obama economy right now”
Excellent point! We are indeed experiencing something of an Obama economy. Investors are rightfully very nervous. Things will not revers unless Obama’s is no longer considered a possible winner in November.
Jul 10, 2008 - 11:04 am 17. kabud:It is very dangerous what this kind of policies will bring:
remember 9-11 happened exactly at the time of dot com market crush
if obama-pelosi-gore-clinton will have their way:
the only thing that is nice about it is:
i hope they all will die first when DC is going to be attacked by kremlin-beijing stacking horse, name it osama or hesbulla or anything
Jul 10, 2008 - 11:53 am 18. goy:“we are dealing with expensive oil because of speculation and the poor state of the dollar. … getting the Dollar back on track will [help] … Granted, I have no idea how we’ll pull that off…”
Hmmm… not very helpful.
The speculation side of the above is directly fed by the market’s perception that there is no alternative to the current situation. And POR’s ineptitude only feeds that perception. This can and would be directly, positively affected by:
- Legislating a policy that utilizes America’s oil, shale and coal reserves instead of suicidally kowtowing to the false fantasy fears of Prince Warming (Gore), the IPCC and the so-called “environmentalists”. Ultimately, *full* exploitation of our shale resources alone would not only make the U.S. a net exporter of oil/energy, but create a permanent trade surplus as well.
- Legislating a policy that supports the construction of nuclear power plants nationwide. Even the Chinese have figured this one out.
- Legislating full support of alternative transportation technology like that already in production at Tesla Motors, instead of paying lip service to same with talk of prizes for batteries. Hillary wants to steal profits from the oil companies? Fine – as long as they bypass her earmark slush fund completely and go straight to solving the remaining hurdles in getting Tesla-style transportation available nationwide.
If *Bush* were ANY kind of leader, he’d be pointing out the truths in this article and suggesting the above, and more, at every opportunity. But it’s clear that American leadership (so-called) has a serious cultural death-wish.
Jul 10, 2008 - 12:02 pm 19. kabud:>American leadership (so-called) has a serious cultural death-wish.
why?
they gonna die first if we are attacked…
or they hope that enemy will secretly warn THEM?
or they trust the enemy MORE then American people?
Jul 10, 2008 - 12:44 pm 20. Bern:Mr. Blumer,
I think you have had your fun with 1 finger stuck in your ass & 1 in your nose & youve been switching too often. I guess thqat gets you high. This is the worst CRAP I have read in months. Open your eyes see whats going on & tell the so called ibformed fools who believe this crap to also open their eyes STUPID.
Jul 10, 2008 - 1:35 pm 21. The Wizard:This article makes excellent points; it is not the Bush administration that is at fault, but rather the Democratically controlled congress. They have sabatoged every bill, appointment and increased government spending to an unprecedented level. Now they want to raise taxes on Americans to pay for all of the “pork” and ridiculous progams. The MSM is drinking the Kook-Aide; Obama will be the worst factor for our economy in history…probably exceeding Jimmy Carter’s incompetence for the title! The man is a charlatan, and has no skills at management, foreign affairs, economics or political savvy. Granted, he is a great speaker and probably should have been a Reverend — just like his mentor and advisor, Jeremiah Wright. God help us all!
Jul 10, 2008 - 2:06 pm 22. Brian H:Oil prices:
For those who didn’t do Econ 101 —
The price “at the margin” (when supplies are tight, the NEXT purchases that need to be made) controls overall pricing.
When there is some slack at the margin, neither speculators nor demand will drive prices up. That’s why even the strong possibility of new supply coming on stream in the foreseeable (buyable) future affects pricing right now.
Jul 10, 2008 - 7:20 pm 23. Tom Blumer:sbourg:
Your point about certain Scandinavian countries propping themselves up with oil is a good one.
WR Jonas:
“Democrats want to squander billions on a crisis that doesn’t exist but won’t lift a finger to solve a crisis that is destroying our economy.” Absolutely, and a great soundbite. I wish McCain didn’t buy into some of what doesn’t exist.
hdgreene:
“Right now the most important members of OPEC are the Democrats in Congress.” Yup.
Ratatosk, Squirrel of Discord:
Your point about the dollar is valid, but I believe a determination to drill would affect supply expectations, which will affect price (not hugely, but it would keep it from running up further than it otherwise would have). See Brian H’s comment.
Jvette:
Levin pointed out Thursday night that the acres are “approved for exploration,” but that there isn’t enough oil on many of them to make it worth getting to. Additionally, every attempt to do something on “approved” fed lands that might have enough oil to justify drilling requires negotiating leases to establish how it will get done so that exploration can begin. Attempts to get leases on acres “approved for exploration” get held up by endless enviro lawsuits. So Pelosi’s solution announced this week is to somehow “speed up the process” of getting leases approved. But that proves that until now, the oil cos haven’t been able to drill because the enviros and the approval process are so burdensome that the make getting at the oil unprofitable.
You’re right that explaining this to the average voter will be difficult.
Bel Air:
You are correct that Obama won’t get the SocSec money he expects. When Clinton made exec salaries over $1 mil nondeductible the use of stock options exploded. They will do so even more with Obama’s SocSec increases. The problem is that stock options are more able to be manipulated than basing bonuses on cash money. So (note the irony) what Clinton did drove some of the very things that led to the Enrons of the world and Sarbanes Oxley’s onerous regulations.
goy:
The Bush Admin’s poor communication skills are well-documented and by far its biggest downfall.
Bern (or is it “Anderson”?):
Thanks for confirming the fundamental validity of what I’ve written. You take care.
Brian H: Correct.
Jul 11, 2008 - 2:29 am 24. Kafir:“If fuel and energy become prohibitively expensive for businesses, it will be that much harder for them to be profitable, perhaps even to remain viable.”
That is when you will see the real motive behind the POR economy. These industries will have to be nationalized in order to “save” the jobs they were providing. It’s all about helping the little guy don’t you see?
Jul 12, 2008 - 6:10 am 25. BizzyBlog » The POR (Pelosi-Obama-Reid) Economy: Are the Democrats Deliberately Driving a Downturn?:[...] This was originally posted at Pajamas Media on [...]
Jul 12, 2008 - 8:16 am 26. John Samford:There are a lot more Americans out there that know what a ‘Socialist Economy ‘means then most pundits will credit. As evidence I offer these;
Nixon/Agnew 520 McGovern/Shriver 17
Reagan/Bush 525 Mondale/Ferraro 13
Bush/Quayle 426 Dukakis/Bentsen 111
See what happens when a Socialist runs for President. I’m curious why the Socialists think it will be different this time.
Jul 12, 2008 - 10:09 am 27. Lance:Of course Socialists are the sort of people that keep doing the same thing in the same circumstances over and over while expecting different results.
I’ll bet POR will all keep clicking their mouse on a button even when nothing happens, in hopes that this time the majic works.
If one does a bit of research, it has been the Democrats that have stymied every form of energy development including nuclear over the last 30-40 years. Nuclear energy was on the way out when “The China Syndrome” movie became popular and the media jumped on the bandwagon. Combined with 3 Mile Island and that was that for nuclear power expansion. When it comes to oil, the Democrats now love to say that the oil companies have all this land they haven’t drilled upon that they have leases for but conveniently leave out the geological reports that show most of this acreage is useless to drill in anyhow. No, we can’t drill our way out of this but not to drill more is totally irresponsible. Those who are voting for the Democrats now will change their tune soon enough when unemployment skyrockets and the cost of living climbs higher because the Dems have no energy policy either. Remember, Pelosi said the Democrats had a plan TWO years ago to immediately lower gas prices. Where is it Nancy?
Jul 12, 2008 - 8:45 pm 28. Jbl:This is a great piece. If we end up with a dem senate, a dem house and a dem president, we’re in trouble. Thanks to the press, Americans were convinced even during the Bush Boom that we were in recession. Pelosi/Reid and Obama are economic disasters.
I’m beginning to think the nation so incurious about facts, and so satisfied with whatever they read in the headlines deserves them.
Jul 13, 2008 - 12:01 am 29. Pelosi: Impeachment back on the table! | The Anchoress:[...] The folks on the left are reeling from all the promises the Democrats in both houses haven’t kept and all the backsteps and flips their beloved “agent of change” presidential candidate is making. And they’re just as worried about how they’re going to afford to heat their homes this winter as anyone else. Like the rest of us – something about which we can finally unite! – they’re wondering what the Democrat congress is going to do about gasoline and home heating oil prices, because right now it seems like they are content to do nothing. [...]
Jul 13, 2008 - 12:05 am 30. regmaxi:Yet a good chunk of this administration have ties to big oil … And can’t get it right . Who’s making America sick ???
Jul 13, 2008 - 1:48 pm 31. radical_moderate:They also squandered next to trillions on a crisis that didn’t exist . Get it right mates.
“Make no mistake: Harry Reid, Nancy Pelosi, and Barack Obama are the people who are making the economy sick.”
============
Oh for god’s sakes. Bush had a Republican Congress for his first term; the Democrats have had a small majority for the second: voted in by American’s disgust with Bush and the Republican Congress’s performance in the first 6 years of the Bush Presidency. Why don’t you just admit that the Bush screwed up and move on from there. Any Conservative worth his salt would reject Bush’s “borrow and spend” policies that in part helped weaken the dollar, and recognize the weak dollar as being one of the pillars of the flagging economy, and of the high price of Oil, among other things as Investors move into commidities to offset Investment loses brought about by a weak currency.
Now I detest Pelosi and Reid every bit as much as most of you, however, dragging Obama into their mess (poor leadership), and the larger question of the weak economy, just doesn’t play as rational to this moderate.
Obama HAS mentioned Nuclear Power as an option, and I do think that he should rethink drilling. But drill or not, the price of gasoline will not come down by much even if we start drilling on our lands today for years, even McCain acknowledges that fact.
As for Obama’s tax “hikes” (or repeal) on the top 2%, look, the wealthiest Americans have enjoyed the lowest taxes in over 20 years, and have seen a corresponding increase in their Incomes. Those that accumulate “passive wealth” by Investment have paid extremely low tax rates as well.
Unfortunately all this income generation at the top end has not generated many American jobs. 3 million manufacturing jobs alone have been lost since Bush took office.
Any student of History knows that once the divide between rich and poor becomes too great, revolution follows. And if Social Security collapses friends, hold on to your Hats. A strong middle-class means a strong America.
Obama has been talking about tax breaks for the 95% of us that make under $250,000, he is also talking about tax breaks on small business start-ups, and he wants to put a carrot (tax credits) under the Corporate Nose to entice them to keep businesses in this Country.
I agree he needs to nix the “Windfall Profit” tax on Oil, consider adding drilling to his portfolio of solutions to the energy crisis (Obama has proved himself willing to break with the Left on a variety of issues), and, as he has suggested recently, he needs to put the brakes on most Tax hikes (as I’ve said Cap Gains and Dividends, if for no better reason that there are plenty of retirees living on Investment income.)
If some of you could just get past partisanship to really look at what Obama brings to the table you never know, you just might like a little of what you see; as it is now, all you see is that (D) behind his name.
McCain, on the other hand, will also raise taxes, although stealthly; those tax credits he proposes that Americans use to buy Health Insurance, will be taxed as income, and will not help anyone with preexisting conditions buy squat. He is also proposing doing away with some tax credits and subsidies that keep some American Manufacturers still operating in the Country. Not to mention some of McCain’s dumber ideas such as booting Oil Rich Russia out of the G-8….
How can McCain convince the 95% of Americans that have watched their wages loose purchasing power while those with incomes at the top end have grown by a healthy 9%, that it is in their best interest, and the Country’s, to NOT repeal the taxes when the dollar is weak, and we have been borrowing so heavily from Communist China. Why, in fact, shouldn’t those who are doing well pay a little more?
Personally, I don’t think that Obama will raise Cap Gains and Dividend taxes by much if at all, since we all know that Low taxes on investment income encourages investment and tax revenues grow.
Jul 13, 2008 - 2:28 pm 32. kabud:radical_moderate:
more i read about POW discource like i copied it here
http://xyu.livejournal.com/653571.html
or here
http://xyu.livejournal.com/653500.html
more i lean towards realization that McCain could be a manchurian candidate of some kind
and McCain is not promoting methanol fuel alternative which is the only quick way out of disaster.
Obama on the other hand reminds me of Mayor Dinkins of NYC- the worst possible mayor. Plus his open communist friends and plans to cut our most important military programs are grave scare for me
There should some OTHER way
if we succumb to this choice between two manipulators-
trouble is coming
We still have time left
If public REALLY becomes aware that the Country is facing death threats- we may get a chance
with the above two – looks like there gonna be no America
Jul 14, 2008 - 11:00 am 33. randy:i watched senator stabenow get up and blame g.b. for general motors decline, and how bush is responsible for every thing wrong in the world. if she had watched ted koppel’s series on china last week it showed auto plants from ford, g.m. gearing up to infuse this country with cars. briggs&stratten has a engine plant there. i would not be suprised if a lot of politicans don’t have investments there. i don’t understand why they are not called out on their lies. i guess it would pretty much shoot the whole day in the ass.
Jul 15, 2008 - 9:40 pm 34. goy:Bush Says Drill, Drill, Drill — and Oil Drops $9!
Did someone say something…?
Jul 16, 2008 - 5:02 am 35. Pajamas Media » PJM Political 7/16/08: Deep Inside the Media-Industrial Complex!:[...] Blumer of BizzyBlog, Newsbusters and PJM explains if the economy is in recession, or merely playing one on [...]
Jul 17, 2008 - 3:13 am 36. Pajamas Media » Economy May Not Be Bad Enough to Help Dems:[...] In early July, I was concerned enough about the antics of Nancy Pelosi, Barack Obama, and Harry Reid that I coined the term “POR economy” to describe what they were creating with their anti-oil, high-tax agenda. [...]
Aug 22, 2008 - 12:40 am 37. BizzyBlog » The POR Economy: Not Too Poor to Swing an Election:[...] In early July, I was concerned enough about the antics of Nancy Pelosi, Barack Obama, and Harry Reid that I coined the term “POR Economy” to describe what they were creating with their anti-oil, high-tax agenda. [...]
Sep 1, 2008 - 4:43 am 38. leo tecce:“Make no mistake: Harry Reid, Nancy Pelosi, and Barack Obama are the people who are making the economy sick.”
President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil futures for August delivery plunged $9.26, or 6.3 percent,
Remember, Pelosi said the Democrats had a plan TWO years ago to immediately lower gas prices. Where is it Nancy?
Yet a good chunk of this administration have ties to big oil … And can’t get it right . Who’s making America sick ???
They also squandered next to trillions on a crisis that didn’t exist . Get it right mates.
You are correct that Obama won’t get the SocSec money he expects. When Clinton made exec salaries over $1 mil nondeductible the use of stock options exploded. They will do so even more with Obama’s SocSec increases. The problem is that stock options are more able to be manipulated than basing bonuses on cash money. So (note the irony) what Clinton did drove some of the very things that led to the Enrons of the world and Sarbanes Oxley’s onerous regulations.
Now isn’t this interesting?
voters of america the wake up call has arrived
Sep 15, 2008 - 11:05 am 39. Pajamas Media » Very Different Economic Times in Red vs. Blue States:vote for oh johnny oh he will get this country back to where it belongs for the good of the people who are truly america the beautiful.
[...] Democratic presidential candidate Barack “Talk and Tax the Economy Down” Obama declared that there was “little doubt we’ve moved into recession” in July. Obama is one of the three Democratic architects of our current tax-threatened, oil-starved POR (Pelosi-Obama-Reid) economy. [...]
Sep 18, 2008 - 12:32 am 40. Calanda-Technology.Com » Blog Archive » One State, Two State, Red State, Blue State:[...] Democratic presidential candidate Barack “Talk and Tax the Economy Down” Obama declared that there was “little doubt we’ve moved into recession” in July. Obama is one of the three Democratic architects of our current tax-threatened, oil-starved POR (Pelosi-Obama-Reid) economy. [...]
Sep 20, 2008 - 8:10 pm 41. BizzyBlog » The POR Economy: I Had NO Idea How Poor:[...] early July, I welcomed readers to the POR (Pelosi-Obama-Reid) Economy: ….. House Speaker Nancy Pelosi, presidential [...]
Oct 20, 2008 - 5:24 am 42. BizzyBlog » Pelosi-Obama-Reid Accountability for the Economy Goes Back to June 1:[...] itself so completely to starving its own national economy, reacted very negatively to all of this. I said at the time that “Businesses and investors are responding to their total lack of seriousness by battening [...]
Nov 28, 2008 - 5:42 am 43. BizzyBlog » Will Obama’s Next ‘Betrayal’ Be Environmentalism?:[...] their professed solidarity with environmental radicals, the custodians of what I have since July called the POR Economy — Nancy Pelosi, Obama, and Harry Reid — must know that they cannot afford to drive the [...]
Dec 5, 2008 - 5:50 am 44. BizzyBlog » Obama’s Race Against the Economy:[...] so. What Nancy Pelosi, Obama, and Harry Reid — the architects of what I have been calling the POR (Pelosi-Obama-Reid) Economy — did during the final five months of the presidential campaign to convince businesses, [...]
Dec 28, 2008 - 11:34 pm 45. BizzyBlog » The POR (Pelosi-Obama-Reid) Economy: Tanks a Lot:[...] I observed in July that as a result of these economy-hostile positions, “Businesses and investors are responding to their total lack of seriousness by battening down the hatches and preparing for the worst.” [...]
Feb 17, 2009 - 10:15 pm