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Obama Presides Over Worst Economy Ever, Gives Speech Full of Crazy Lies Promising Pie in the Sky
Posted By Daniel Greenfield On July 24, 2013 @ 5:44 pm In The Point | 30 Comments
Every time that Obama claims the economy is back, another company goes out of business. When Obama says that the economy is back, he means that his big money donors are using their share of government pork to send him big checks.
So cue the big speech which is being delivered as behind him, Detroit goes bankrupt. Or fights for the right to go bankrupt.
This is what our modern Lincoln, FDR, Reagan, Aaron Burr and Jimmy Carter wrapped in one man said not too long ago.
Obama’s 2011 speech described a Detroit that can only be described as a myth wrapped in a wish inside a dream.
“This is a city that’s been to heck and back,” Obama said. “And while there are still a lot of challenges here, I see a city that’s coming back.”
Now cue the big speech.
In the period after World War II, a growing middle class was the engine of our prosperity. Whether you owned a company, swept its floors, or worked anywhere in between, this country offered you a basic bargain – a sense that your hard work would be rewarded with fair wages and benefits, the chance to buy a home, to save for retirement, and, above all, to hand down a better life for your kids.
But over time, that engine began to stall. That bargain began to fray. Technology made some jobs obsolete. Global competition sent others overseas.
While others were regulated out of existence. Doing business in America became ridiculously expensive. Navigating a punishing network of regulations alone wouldn’t keep you in business. You also had to lobby Washington D.C. to get pork from dirty little men like Barack Obama.
If your company was making Warren Buffett or George Soros money, you might stay in business. If it wasn’t, then you wouldn’t.
And one day some little Chicago creep would clamber into the White House and declare a War on Coal and your job would be destroyed.
But let’s get back to the Chicago Community Organizer’s 1 percent class warfare explanation for everything…
Washington doled out bigger tax cuts to the rich and smaller minimum wage increases for the working poor. The link between higher productivity and people’s wages and salaries was severed – the income of the top 1% nearly quadrupled from 1979 to 2007, while the typical family’s barely budged.
But that hardly explains where the jobs went, does it. Let’s assume that the hideous beasts of capitalism gorged more and more on the fruits of the oppressed workers. Where did the miserable jobs sweeping the factory floors go?
Obama, as usual, is pulling a bait and switch. He begins talking about jobs going away and then switches to a rant about the rich… a class that he comes from and subsidizes him.
Towards the end of those three decades, a housing bubble, credit cards, and a churning financial sector kept the economy artificially juiced up.
Juiced up by the government. And by men like Barack Obama who played a role in pushing for race-based loans that borrowers could not repay so that his wealthier supporters could turn those loans into investments.
But by the time I took office in 2009, the bubble had burst, costing millions of Americans their jobs, their homes, and their savings.
Obama took office in the Senate in 2005. But somehow he isn’t interested in remembering that.
Today, five years after the start of that Great Recession, America has fought its way back.
Wall Street has. No one else has.
Together, we saved the auto industry, took on a broken health care system, and invested in new American technologies to reverse our addiction to foreign oil and double wind and solar power.
The auto industry was held together with a massive bailout. Why did it get the bailout and not other industries and how many other industries can we afford to bail out?
ObamaCare is already destroying countless jobs. Some companies are shutting down entirely.
And Green Energy is a giant boondoggle of wasted money that created fewer jobs than pouring money into a pie and paying Michelle Obama to eat it would have.
Together, we put in place tough new rules on big banks, and protections that cracked down on the worst practices of mortgage lenders and credit card companies.
Practices that Obama’s backers and cabinet members helped create and profit from.
We changed a tax code too skewed in favor of the wealthiest at the expense of working families, locking in tax cuts for 98% of Americans, and asking those at the top to pay a little more.
Those were the Bush tax cuts. And so much money is being spent by Obama Inc. that we would have to tax everyone at 100 percent to pay off that kind of debt.
We’re about to produce more of our own oil than we buy from abroad for the first time in nearly 20 years.
Mainly by companies that took on Obama Inc. and refused to back down.
And our deficits are falling at the fastest rate in 60 years.
Brezhnev phoned in to say that the Russian harvest is at 96%.
Thanks to the grit and resilience of the American people, we’ve cleared away the rubble from the financial crisis and begun to lay a new foundation for stronger, more durable economic growth.
Gross domestic product — the broadest measure of economic activity — rose at a mere 1.8% annual pace between January and March
In our personal lives, we tightened our belts, shed debt, and refocused on the things that really matter.
Obama shed debt? He tightened his belt? Who is this “our”?
With new American revolutions in energy, technology, manufacturing, and health care, we are actually poised to reverse the forces that have battered the middle class for so long, and rebuild an economy where everyone who works hard can get ahead.
We’re going to revolutionize the middle class by taxing them to construct overpriced windmills out of parts we buy from China.
But I’m here today to tell you what you already know – we’re not there yet.
Even though our businesses are creating new jobs and have broken record profits, nearly all the income gains of the past ten years have continued to flow to the top 1%. The average CEO has gotten a raise of nearly 40% since 2009, but the average American earns less than he or she did in 1999.
Maybe that’s because the CEOs took their jobs to China. And Obama will counter that with more taxes and regulations so even more jobs go to China so even more profits go to the 1 percent.
Because he’s a visionary.
In many ways, the trends that I spoke of here in 2005 – of a winner-take-all economy where a few do better and better, while everybody else just treads water – have been made worse by the recession.
No, it’s been made worse by massive government looting of the economy under Barack Obama.
This growing inequality isn’t just morally wrong; it’s bad economics. When middle-class families have less to spend, businesses have fewer customers.
And then government has less tax revenue to pay for Obama to take a $100 mil safaris to Africa.
When wealth concentrates at the very top, it can inflate unstable bubbles that threaten the economy. When the rungs on the ladder of opportunity grow farther apart, it undermines the very essence of this country.
That’s why reversing these trends must be Washington’s highest priority. It’s certainly my highest priority. Unfortunately, over the past couple of years in particular, Washington hasn’t just ignored the problem; too often, it’s made things worse.
So instead of fixing the economy, Obama will pile on more class warfare. That’s worked well so far. We’re going to reverse a recession by screaming about the 1 percent. OWS FTW.
And then letting the government do some wealth redistribution that will leave everyone poorer.
We’ve seen a sizable group of Republican lawmakers suggest they wouldn’t vote to pay the very bills that Congress rang up – a fiasco that harmed a fragile recovery in 2011, and one we can’t afford to repeat.
By that, the Liar-in-Chief means that the GOP didn’t want to raise the debt ceiling to accommodate another insane Obama spending spree.
Then, rather than reduce our deficits with a scalpel – by cutting programs we don’t need, fixing ones we do, and making government more efficient – this same group has insisted on leaving in place a meat cleaver called the sequester that has cost jobs, harmed growth, hurt our military, and gutted investments in American education and scientific and medical research that we need to make this country a magnet for good jobs.
Over the last six months, this gridlock has gotten worse. A growing number of Republican Senators are trying to get things done, like an immigration bill that economists say will boost our economy by more than a trillion dollars.
Putting 12 million illegal aliens on benefits will apparently make our economy soar.
But a faction of Republicans in the House won’t even give that bill a vote, and gutted a farm bill that America’s farmers and most vulnerable children depend on.
By gutted, Obama means tried to reform food stamp giveaways.
If you ask some of these Republicans about their economic agenda, or how they’d strengthen the middle class, they’ll shift the topic to “out-of-control” government spending – despite the fact that we have cut the deficit by nearly half as a share of the economy since I took office.
Obama increased the national debt by 6 trillion dollars. That’s his idea of a cut.
With an endless parade of distractions, political posturing and phony scandals, Washington has taken its eye off the ball.
Investigating Obama’s wrongdoing is a phony distraction. Check.
We’ll continue to focus on strategies to create good jobs in wind, solar, and natural gas that are lowering energy costs and dangerous carbon pollution.
The only carbon that’s dangerous comes out of Obama’s yap. And thus far the “good jobs” are government subsidized monstrosities that hike up energy costs and cost millions per job.
We’ve got more than 100,000 bridges that are old enough to qualify for Medicare.
Obama was on about old bridges back in 2009. He rammed through stimulus plans that were supposed to fix infrastructure. So whose fault is this?
The businesses of tomorrow won’t locate near old roads and outdated ports; they’ll relocate to places with high-speed internet; high-tech schools; systems that move air and auto traffic faster, not to mention get parents home to their kids faster.
Apparently what the businesses of tomorrow really want are high tech schools. Who knew?
If you think education is expensive, wait until you see how much ignorance costs in the 21st century.
Fortunately with our unionized public school system, we can have both. Just look at Chicago. Educated ignorance with guns.
That’s why I’ll keep pushing to make high-quality preschool available to every four year-old in America
Because apparently high tech education requires four-year-olds in preschools. How did Thomas Edison ever invent anything?
Today, for example, federal agencies are moving on my plan to connect 99% of America’s students to high-speed internet over the next five years.
Because there aren’t enough misspelled comments on YouTube yet.
As we work to reform our tax code, we should find new ways to make it easier for workers to put money away, and free middle-class families from the fear that they’ll never be able to retire.
Like seizing their 401Ks
And if Congress is looking for a bipartisan place to get started, they don’t have to look far: economists show that immigration reform that makes undocumented workers pay their full share of taxes would actually shore up Social Security for years.
The amount they pay in SS will be overshadowed by the amount they collect in Medicaid, Food Stamps, Medicare and everything else.
Fifth, I will keep focusing on health care, because middle-class families and small business owners deserve the security of knowing that neither illness nor accident should threaten the dreams you’ve worked a lifetime to build.
Small business owners are already embracing the security of moving workers to part-time because of ObamaCare.
If you don’t have health insurance, starting October 1st, private plans will actually compete for your business.
They already do. It’s called business.
You can comparison shop in an online marketplace, just like you would for TVs or plane tickets, and buy the one that fits your budget and is right for you.
You can already do this.
Now, I know there are folks out there who are actively working to make this law fail.
Like some of the country’s biggest unions who are looking for a way out.
I will keep making the case that we need to raise a minimum wage that in real terms is lower than it was when Ronald Reagan took office.
Because not enough jobs have been lost yet. Let’s move more jobs to China. And then give speeches about the 1 percent.
We’ve come a long way since I first took office.
That’s not the vision I have for this country. That’s not the vision you have for this country. That is not the America we know. That’s not a vision we should settle for, or pass on to our children. I have now run my last campaign.
Your campaign is a SuperPAC and it’s promising access to you in exchange for six figure donations.
I do not intend to wait until the next one before tackling the issues that matter.
I care about one thing and one thing only, and that’s how to use every minute of the 1,276 days remaining in my term to make this country work for working Americans again.
Also golf. And parties with celebs. And more golf. And vacations. So make that like 26 days.
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