I honestly had to check twice to see if this was satire. Interviewed in China, President Obama voiced concerns about the rising debt and consumer confidence.
"There may be some tax provisions that can encourage businesses to hire sooner rather than sitting on the sidelines. So we're taking a look at those," Obama told Fox News' Major Garrett.Tax provisions? That benefit businesses? Really? That doesn't sound like the Obama I knew."I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession."
I love the qualifiers in the second paragraph. First, he makes sure to comment that the economy is currently in a recovery. But if we keep adding people could lose confidence and there could be another recession. So if the growing debt is bad, then how does that mesh with the high economic cost of programs like Obamacare and cap and trade?
There were some more surprising quotes later in the article.
And the president said that despite the federal government's massive stake in General Motors, his administration will not weigh in on the possibility that GM could direct bailout funds toward its European Opel unit.All this sounds very different from the President Obama of the past year. Actually, it sounds a lot more like candidate Obama. Which is why aspiring Republican candidates should sit up and take notice. I commented in a previous post that a year was a eternity in politics and was taken to task for it in the comments. Consider that right now, a strategy of fiscal conservatism versus big government spending seems like a slam dunk. But if Obama has proved anything it is that he is very good at winning elections. A year from now, a few token programs, a few sound bites, and a modest economic recovery and the political landscape could be quite different."We are not going to meddle in GM's decisions," Obama said. "We are a shareholder but we are not an active shareholder. We have specifically said that we are not in the business of running a car company. We're not getting involved in day-to-day management."
He said the Detroit automaker owes the U.S. government money, but that "we want to get out of that business as soon as possible" and encourage repayment.
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Barack Obama, Economics
Comments (15)
dan - Obama has only won tw... (Below threshold)1. Posted by Michael | November 18, 2009 12:14 PM | Score: 5 (5 votes cast)
dan - Obama has only won two elections...both where is was running against weak candiates. Next time he is running defending his dismal record....I think he will need more than a few good soundbites and a modest recovery to prevail against the fact that he ran as one thing and govern dismally as another.
1. Posted by Michael | November 18, 2009 12:14 PM |
Score: 5 (5 votes cast)
Posted on November 18, 2009 12:14
2. Posted by DaveD | November 18, 2009 12:21 PM | Score: 8 (8 votes cast)
"I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy...."
Those people losing confidence being the Chinese I suppose.
2. Posted by DaveD | November 18, 2009 12:21 PM |
Score: 8 (8 votes cast)
Posted on November 18, 2009 12:21
3. Posted by 914 | November 18, 2009 12:55 PM | Score: 4 (6 votes cast)
"But if Obama has proved anything it is that he is very good at winning elections. A year from now, a few token programs, a few sound bites, and a modest economic recovery and the political landscape could be quite different"
And dont forget about ACORNS dead vote surplus initiatives.
3. Posted by 914 | November 18, 2009 12:55 PM |
Score: 4 (6 votes cast)
Posted on November 18, 2009 12:55
4. Posted by 914 | November 18, 2009 1:40 PM | Score: 3 (5 votes cast)
"I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery,"
"I think it is important, though, to recognize when we keep on adding to the debt, even in the midst of this recovery,
There, fixed it for You Alinsky..
4. Posted by 914 | November 18, 2009 1:40 PM |
Score: 3 (5 votes cast)
Posted on November 18, 2009 13:40
5. Posted by Jeff Blogworthy | November 18, 2009 2:28 PM | Score: 3 (3 votes cast)
In other news: Fox worried about chickens.
5. Posted by Jeff Blogworthy | November 18, 2009 2:28 PM |
Score: 3 (3 votes cast)
Posted on November 18, 2009 14:28
6. Posted by bobdog | November 18, 2009 2:51 PM | Score: 3 (3 votes cast)
Here's a way he can actually make good on a promise - cut the national debt by killing the Health Care bill. Bingo - three trillion dollars created or saved.
Then kill Cap 'n Trade, and kill the rest of the Porkulus bill. While he's at it, he can start asking the banks to start paying back what they owe, since by all accounts they aren't using it.
Then pass an executive order outlawing Congressional earmarks forever, and pledge to refuse to sign any legislation that contains it.
Turn all that around, by executive fiat, and give everyone in America a serious and permanent tax cut.
The country would turn around in six months.
6. Posted by bobdog | November 18, 2009 2:51 PM |
Score: 3 (3 votes cast)
Posted on November 18, 2009 14:51
7. Posted by slagathor | November 18, 2009 2:51 PM | Score: 2 (2 votes cast)
Wait...Obama spoke to someone from Fox News??
7. Posted by slagathor | November 18, 2009 2:51 PM |
Score: 2 (2 votes cast)
Posted on November 18, 2009 14:51
8. Posted by chain smoker | November 18, 2009 3:33 PM | Score: 1 (1 votes cast)
Guess I should be concerned about lung cancer.
8. Posted by chain smoker | November 18, 2009 3:33 PM |
Score: 1 (1 votes cast)
Posted on November 18, 2009 15:33
9. Posted by eaglewingz08 | November 18, 2009 3:55 PM | Score: 3 (3 votes cast)
So now we know from Gore's own mouth that global warming or 'climate change' is not due to anything mankind has done, but is due solely to the million degrees that the earth's core has started spewing out evidently during the past twenty or so years. Time for Mr. Gore and his acolytes to board their yellow submarines, go drill to the earth's core, and let in some water to cool it down. Or not.
9. Posted by eaglewingz08 | November 18, 2009 3:55 PM |
Score: 3 (3 votes cast)
Posted on November 18, 2009 15:55
10. Posted by ODA315 | November 18, 2009 4:11 PM | Score: 2 (2 votes cast)
"dog, I think he'll cut the payroll tax by 0.25% and when it has no impact he'll cry "see, tax cuts don't work".
10. Posted by ODA315 | November 18, 2009 4:11 PM |
Score: 2 (2 votes cast)
Posted on November 18, 2009 16:11
11. Posted by JLawson | November 18, 2009 7:54 PM | Score: 3 (3 votes cast)
Great. NOW he's worried about the debt he's been passing out IOUs for left and right?
11. Posted by JLawson | November 18, 2009 7:54 PM |
Score: 3 (3 votes cast)
Posted on November 18, 2009 19:54
12. Posted by mike | November 18, 2009 10:22 PM | Score: 3 (3 votes cast)
Obama is telling us to not get in debt? Isn't this the same guy that enticed millions of Americans into getting a car loans with the Cash4Clunkers program? I can't wait to see the wave of repossessions hit (see http://www.repofinder.com) that sinks us into another recession.
12. Posted by mike | November 18, 2009 10:22 PM |
Score: 3 (3 votes cast)
Posted on November 18, 2009 22:22
13. Posted by Stephanie | November 19, 2009 1:31 PM | Score: 0 (0 votes cast)
As far as the GM thing goes, they are getting alot of criticism right now for using American taxpayer bailout money to further their overseas operations. The news media is all over it.
http://www.newsy.com/videos/gm_criticized_for_using_bailout_money_to_boost_overseas_growth
13. Posted by Stephanie | November 19, 2009 1:31 PM |
Score: 0 (0 votes cast)
Posted on November 19, 2009 13:31
14. Posted by gary gulrud | November 19, 2009 4:02 PM | Score: 1 (1 votes cast)
"In other news: Fox worried about chickens."
Priceless.
14. Posted by gary gulrud | November 19, 2009 4:02 PM |
Score: 1 (1 votes cast)
Posted on November 19, 2009 16:02
15. Posted by debts | November 23, 2009 5:56 AM | Score: 0 (0 votes cast)
I think we will see some collapse, significant regulation, significant cuts to our military, a loophole free progressive tax code, and perhaps a few public options are the way to stabilize our national budget.
15. Posted by debts | November 23, 2009 5:56 AM |
Score: 0 (0 votes cast)
Posted on November 23, 2009 05:56