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Obama attacks today's only safe investment option

Well, sort of ...

In a 35-minute conversation with The New York Times aboard Air Force One on Friday, Mr. Obama reviewed the challenges to his young administration. The president said he could not assure Americans the economy would begin growing again this year. But he pledged that he would "get all the pillars in place for recovery this year" and urged Americans not to "stuff money in their mattresses."(emphasis added)

It's true that Americans need to keep spending money in order for the economy to recover. Even Herbert Hoover encouraged Americans to invest money in the stock market in a desperate attempt to end its 1931-1932 death spiral. Discouraging us from saving isn't going to be helpful, though. If the president is worried about Americans not spending enough of their own money, perhaps he should consider lowering tax rates, so that they will have more of their own money to spend. Or at least let us know what kind of investments are currently safer than our mattresses. Mr. President, where are you putting your money?

One more thing:

Sitting at the head of a conference table with his suit coat off, Mr. Obama exhibited confidence six weeks into his presidency despite the economic turmoil around the globe and the deteriorating situations in Afghanistan and Pakistan. He struck a reassuring tone, saying Americans should not be frightened of the future, and he said he had no trouble sleeping at night.

"Look, I wish I had the luxury of just dealing with a modest recession or just dealing with health care or just dealing with energy or just dealing with Iraq or just dealing with Afghanistan," Mr. Obama said. "I don't have that luxury, and I don't think the American people do, either."

Once again, it goes without saying that if President Bush had nonchalantly tossed off that line during the months immediately following 9/11 or during the dark days of the Iraqi insurgence, the press and the Democrats would have gone completely ape er, lost it, big time. But with Obama, well, let's just say he's such a cool party animal that even his aloofness is chic.


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Comments (20)

"Look, I wish I had the ... (Below threshold)
ECM:

"Look, I wish I had the luxury of just dealing with a modest recession or just dealing with health care or just dealing with energy or just dealing with Iraq or just dealing with Afghanistan," Mr. Obama said. "I don't have that luxury, and I don't think the American people do, either."

The nation's economic system is collapsing around him, and all he can think about is almost everything but? And he thinks we care about anything other than the economy right now? How out of touch is this guy?!

And do I detect a note of self-pity, while he checks off the crushing list of responsibilities he has to carry on his poor shoulders? What office did this guy think he was running for? Figurehead-in-chief?

It's the combination of alo... (Below threshold)
Old Coot:

It's the combination of aloofness and nuance that shields Obama (PBUH) from criticism.

It is absolutely incredible... (Below threshold)
John:

It is absolutely incredible just how out of touch Obama is and of course he sleeps at night! Obama doesn't have to pay for a damned thing! I mean this is the same person who will host weekly parties, fully funded by the taxpayers (he's an asshole), with $100/lb waygu beef (a real asshole), while real families will abide by their budgets and buy what they can and maximize their dollars while doing so.

Ironically, it was just a few short years ago, Americans were chided for not saving enough. Remember? Polls, news stories, investigative pieces on how Americans are not saving enough...now...we shouldn't spend.

Now yes, investing and purchasing goods and services can help, but when you cannot get the most out of the money being spent, folks just are not going to part with their money. Especially when this administration trouts out spending program after spending program, tax hike after tax hike, most people just cannot fathom spending/investing at this juncture.

How many times did the Dems... (Below threshold)
kathie:

How many times did the Dems complain about Bush when he recommended that we could help the economy come back after 911, by going out and spending. He was lambasted by the oh so smug elite MSM.

This guy is incompetent, in... (Below threshold)
Dave:

This guy is incompetent, inept and completely unqualified to be president, yet the media is so in the tank for him, what do we get from them? "at the head of the conference table with his suit coat off..." He is sooo coooollll!!!! And, hey, check out Michelle's totally buff and toned arms! What a sick joke.

Okay, I realize I am going ... (Below threshold)
DaveD:

Okay, I realize I am going to go off topic here but when I learned this guy loses no sleep supporting the denial of medical care to babies suviving abortions I pretty much figured his so called "coolness" is really pathological detachment. He scares the hell out of me and I don't scare all that easily.

Of course he has no trouble... (Below threshold)

Of course he has no trouble sleeping. He is partying it up almost every night on the taxpayers dime, er, well, with the coming inflation, make that silver dollar, and gets to be isolated from the plebes who elected him.

Yep, 'Bama is REALLY concer... (Below threshold)
GarandFan:

Yep, 'Bama is REALLY concerned. Gonna spend the weekend up at Camp David. Really concerned.

I miss W.... (Below threshold)
irongrampa:


I miss W.

One of the more sophomoric ... (Below threshold)
Brian:

One of the more sophomoric and uninformed posts on Wizbang lately.

Well, sort of ...

Ah, so yet another in the recent string of false Wizbang post titles.

perhaps he should consider lowering tax rates, so that they will have more of their own money to spend.

You mean like this?

A typical American family would get a tax cut under President Barack Obama's budget proposal, and their low-income neighbor would fare even better.

...
Families making as much as $50,000 would owe no federal income taxes, as long as they have at least two children, according to an analysis by Deloitte Tax LLP. Others making as much as $150,000 would see big tax cuts, especially if they have children in college.

it goes without saying that if President Bush had nonchalantly tossed off that line during the months immediately following 9/11 or during the dark days of the Iraqi insurgence, the press and the Democrats would have gone completely ape

How about if he nonchalantly tossed off that line a few weeks before announcing the "surge"?

I must tell you, I'm sleeping a lot better than people would assume.

But I guess it goes without saying. You said so.

Aw shut up #10... (Below threshold)
914:

Aw shut up #10

Ah, now there's the level o... (Below threshold)
Brian:

Ah, now there's the level of Republican thinking that we're all used to. You forgot to put your fingers in your ears and say "lalalalala!

Brian, With Wizbang... (Below threshold)
maggie:

Brian,
With Wizbang being so poorly informed and
sophomoric, it would be provident for you
to MoveOn.org.
You are becoming tiresome.

Wow Brian, this is actually... (Below threshold)
RicardoVerde:

Wow Brian, this is actually a pretty well thought-out post. In what way is it sophomoric? I believe that maybe it is time to step back and realize that you just knee jerk discount anything posted here.

It still boggles the mind that this guy even got close to the job. He was elected by the gullible, the naive, and the folks who want all their sugar for no dime at all.

The Telegraph reports:<br /... (Below threshold)
kevino:

The Telegraph reports:

Barack Obama 'too tired' to give proper welcome to Gordon Brown.

Barack Obama's offhand approach to Gordon Brown's Washington visit last week came about because the president was facing exhaustion over America's economic crisis and is unable to focus on foreign affairs, the Sunday Telegraph has been told.

But now we have this:

He said he had no trouble sleeping at night.

Pathetic.

For an American president t... (Below threshold)
Trump:

For an American president to even utter the words " don't stuff money in their mattresses" is terrifying. There's certain places you can't go as a President. You can't even elude that the idea of taking from the banks and putting in your mattress is getting such widespread play that the for gods sake POTUS has to have a go at it.

It can't be done.

What a ham-fisted dolt

I miss Renaldus Magnus... (Below threshold)
ODA315:

I miss Renaldus Magnus

Wow Brian, this is actua... (Below threshold)
Brian:

Wow Brian, this is actually a pretty well thought-out post. In what way is it sophomoric?

Because all three of its main points are false. I made that pretty clear. Even cited sources.

I believe that maybe it is time to step back and realize that you just knee jerk discount anything posted here.

The way you just knee jerk defended what was posted here? Nope, not me.

You guys don't get it yet?<... (Below threshold)

You guys don't get it yet?
Soros shorts the market and Obama talks the markets down.
They are cleaning everyone's pockets.
So do not complaint.
just follow Soros.

Michael should probably sto... (Below threshold)

Michael should probably stop using the "can you imagine if Bush had said X" line of argumentation. For most writers, this is merely lazy writing about a hypothetical which cannot be proven or disproven. However, Michael has tried this twice only to have it shown that Bush had made a statement very close to the one he was claiming was never uttered. The first was the Obama "I won" line. The second was in this article as Brian pointed out above.

I give extra credit for Michael specifically saying that Bush wouldn't have said he was sleeping well in the dark days of the insurgency. Bush's statement was in December 2006, the month before he announced the surge. So Bush made this statement close to the heart of when Michael claimed he would not have said it.

I notice that Brian's contention (with supporting link) that this idea of Michael's was not correct has been significantly voted down, while the well thought out retort "Aw shut up #10" has received 4 positive votes. I'm so glad to see the more reasoned readership rip this argument to tatters.

Finally, I believe that it is incorrect for this piece to equate urging Americans not to "stuff money in their mattresses," with discouraging them from saving. The very next line in the article contained "I don't think that people should suddenly mistrust all of our financial institutions," so I think that it is clear that Obama was asking people to trust banks with savings instead of literally hoarding cash in their homes.




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