Obama Press Conference
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on 7/22/11 at 6:59pm
Interested to know your thoughts on Obama's press conference. What do you guys think will happen, both politically and with the markets?
I'm very proud of the House Republicans for holding to their beliefs and trying to force substantive cuts and save us from bankruptcy. My guess is they shove the cut, cap, and balance down the Dems throats (or try to), and the markets take a hit on Monday (how big, I don't know, depends what happens tomorrow and Sunday).






He is way to divisive. Every
He is way to divisive. Every comment was blaming the Republicans, bringing up closed door discussions, basically shitting on them in every way. You don't work together and build relationships that way. When he had a majority in the House and Senate he treated Republicans like shit and forced legislation down their throat and now that he has to compromise and act like an adult he is failing miserably.
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I'm not proud. I'm
I'm not proud. I'm disgusted. It is pathetic that we have gotten to this point in political rhetoric. Often you have to see through all the bullshit in politics, but this is like trying to see through a pool of bullshit 12ft deep.
Both sides have been needing to drop the bullshit for so long. I think the Dems finally dropped most of it and the GOP is still lingering on.
All these Republican politicians will make you believe that a small tax increase on the upper class will drive our economy down. This isn't correct. 1) Our taxes are lower now than they have been for awhile. Actually during the Clinton boom, our tax rate was higher 2) There isn't any CLEAR evidence that raising taxes on the rich drives GDP or markets down. It is a theory that has yet to be met with any real evidence.
As a moderate republican myself, I'm embarrassed. I think that speech just won Obama the next presidency. If the GOP doesn't come to a deal, Obama wins. Even if GOP comes to a deal now, Obama still wins. People are pissed and Obama looked more pissed than anyone. The American people are going to eat it up, as they should. Republicans are shooting themselves in the foot on this one.
The Republicans won the House
The Republicans won the House because they were anti tax and smaller government. By allowing taxes to increase they would shoot themselves in the foot.
Taxes should go down, not up.
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rothyman wrote: I'm not
I'm not proud. I'm disgusted. It is pathetic that we have gotten to this point in political rhetoric. Often you have to see through all the bullshit in politics, but this is like trying to see through a pool of bullshit 12ft deep.
Both sides have been needing to drop the bullshit for so long. I think the Dems finally dropped most of it and the GOP is still lingering on.
All these Republican politicians will make you believe that a small tax increase on the upper class will drive our economy down. This isn't correct. 1) Our taxes are lower now than they have been for awhile. Actually during the Clinton boom, our tax rate was higher 2) There isn't any CLEAR evidence that raising taxes on the rich drives GDP or markets down. It is a theory that has yet to be met with any real evidence.
As a moderate republican myself, I'm embarrassed. I think that speech just won Obama the next presidency. If the GOP doesn't come to a deal, Obama wins. Even if GOP comes to a deal now, Obama still wins. People are pissed and Obama looked more pissed than anyone. The American people are going to eat it up, as they should. Republicans are shooting themselves in the foot on this one.
If you really look at the data, the Dems haven't offered real spending cuts. Offering ~150B a year in spending cuts a year coupled with 100B a year in revenue increases is not a realistic solution when you're running $1+T deficits. Keep in mind that all these figures tossed around by the media are total numbers, which will be amortized over a long period of time. Also keep in mind that the entitlment spending is only going to go up. Anyone who really understands the numbers can draw no other conclusion than that the Dems are not serious about fixing this. We should cut at least $500B a YEAR, all from spending. That would still only bring us back to $600B or so a year in annual deficits. Amortized over 10 years, that's $5T. Keep in mind that even with this figure, our debt/GDP keeps going up. We should be cutting even more, maybe something like $800B. We need to make drastic cuts just to SMOOTH our way into lower spending/living within our means. Otherwise, one day, we'll wake up and see Treasury rates have skyrocketed, and can't afford to spend even on very basic things, nevermind a $500K quadruple heart bypass for an 80 year old terminally ill cancer patient (like we currently do). Look at how quickly interest rates skyrocketed on Greece, our debt/GDP ratio is already there, if you adjust for all the shenanigans in the reporting of the numbers.
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@alex I don't disagree with
@alex
I don't disagree with you about the need for more cuts. I am 100% in favor of deeper, non bs cuts that aren't just smoke in mirrors. However this isn't the reason the GOP has backed out. They backed out because they will NOT touch taxes. Even if Obama promised the cuts you listed above, the GOP would not vote for any tax increase. In my eyes, the Dems are still compromising more for their constituents than the Republicans are. Like I said before, tax rates for the upper-class are relatively low. It's not like they are relatively high at the moment.
http://www.taxpolicycenter.org/taxfacts/displayafa...
Why would the GOP vote for
Why would the GOP vote for anything that involves tax increases? The rich are simply a policy scapegoat for Obama. Why would you increase taxes during a recession (or at least lack luster recovery)?
Why are the Democrats always the party of more taxes. The government is too big, wastes too much and needs to cut back. The last thing we need is to take more money out of the private market.
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ANT wrote: He is way to
He is way to divisive. Every comment was blaming the Republicans, bringing up closed door discussions, basically shitting on them in every way. You don't work together and build relationships that way. When he had a majority in the House and Senate he treated Republicans like shit and forced legislation down their throat and now that he has to compromise and act like an adult he is failing miserably.
I got the impression that O was a huge pussy when he had the house and senate.
Yeah, he really has been all
Yeah, he really has been all hype. I think Colin Powell would have been a much more appropriate first black president. The guy is a decorated veteran and had the stones and integrity to step down because he disagreed with Bush.
A cereal box could have run against Bush and won. In fact, one did.
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My plan to restore
My plan to restore america:
1. 15% flat tax.
2. pull our troops from 110 countries across the world.
3. let people under 35 opt out of social security and medicare.
4. abolish the fed and restore a constitutional, commodity-backed currency.
5. abolish the TSA, HUD, Education Department, HHS.
6. abolish affirmative action.
7. dismantle all of our torture chambers and secret prisons.
8. no foreign aid to any country.
9. seal the southern border and fund an e-verify mandate.
10. no more executive wars.
boom, america's right as rain again.
ivoteforthatguy wrote: My
My plan to restore america:
1. 15% flat tax.
2. pull our troops from 110 countries across the world.
3. let people under 35 opt out of social security and medicare.
4. abolish the fed and restore a constitutional, commodity-backed currency.
5. abolish the TSA, HUD, Education Department, HHS.
6. abolish affirmative action.
7. dismantle all of our torture chambers and secret prisons.
8. no foreign aid to any country.
9. seal the southern border and fund an e-verify mandate.
10. no more executive wars.
boom, america's right as rain again.
I like everything you said except I'm more for a flat/fair tax mix. Well done my friend!
ANT wrote: Yeah, he really
Yeah, he really has been all hype. I think Colin Powell would have been a much more appropriate first black president. The guy is a decorated veteran and had the stones and integrity to step down because he disagreed with Bush.
A cereal box could have run against Bush and won. In fact, one did.
Colin Powell said he was only in for one term before he was even nominated actually though I do agree with your point.
If I had asked people what they wanted, they would have said faster horses - Henry Ford
ANT wrote: He is way to
He is way to divisive. Every comment was blaming the Republicans, bringing up closed door discussions, basically shitting on them in every way. You don't work together and build relationships that way. When he had a majority in the House and Senate he treated Republicans like shit and forced legislation down their throat and now that he has to compromise and act like an adult he is failing miserably.
Ant, your last sentence is a very good point I hadn't even thought of. Thanks for bringing that up.
I'm not a huge Obama fan by
I'm not a huge Obama fan by any means but in broad strokes, I like the way he's handled the debt ceiling issue, as I think he's approached it as a centrist.
Most reasonable people would agree that spending cuts alone are not a realistic way to get out of the debt crisis; we need a mix of both revenue increases and spending cuts. The compromise package that the White House agreed to was 75% spending cuts and 25% revenue increases - not by raising taxes, but just by closing certain loopholes.
If a party is so ideologically closed that it can't take a 75-25 compromise in its favor, then I think its very dangerous for a democracy.
The R party is too far right and too beholden to the crazies at its base. Even poeple like Colin Powell, David Brooks, have been unable to find a place in the R tent nowadays.
There was a great article
There was a great article today either on BBG or in the journal, don't remember which, but it brought up a really good point. Obama is starting to look childish. He's too forward. I haven't seen this conference everyone was talking about late in the day, but before that the general sentiment was that every time he appeared in front of the camera, he hurt his poll numbers.
My personal belief is that the Gang of Six proposal is the only real, substantive idea going forward. Serious Dems, Serious Republicans sitting together to thrash out what needs to get done. Ironically enough, it essentially mirrors the Bowles-Simpson plan from last year; sad that that kinda got discarded, pushed off to the side with a "Hey thanks, great work, but no thanks."
A lot of people do certain things to add days to their life. I do things to add life to my days.
txjustin
My plan to restore america:
1. 15% flat tax.
2. pull our troops from 110 countries across the world.
3. let people under 35 opt out of social security and medicare.
4. abolish the fed and restore a constitutional, commodity-backed currency.
5. abolish the TSA, HUD, Education Department, HHS.
6. abolish affirmative action.
7. dismantle all of our torture chambers and secret prisons.
8. no foreign aid to any country.
9. seal the southern border and fund an e-verify mandate.
10. no more executive wars.
boom, america's right as rain again.
I like everything you said except I'm more for a flat/fair tax mix. Well done my friend!
Love it. Although the "no foreign aid" would destroy countries like Saudi Arabia/our other "allies" in OPEC.
As for the tax thing...
"Don't expect to build up the weak by pulling down the strong."- Calvin Coolidge
In 2001 Russia adopted a 13% flat tax. Russia’s economy has expanded by about 10 percent by 2005. That may not be spectacular, but it’s better than the United States, and it’s very impressive compared to the anemic growth rates we see elsewhere in Europe.
I am still the most favorable to the Fair Tax. I repeat myself on so many threads its becoming ridiculous.
Reality hits you hard, bro...
At the end of the day this
Why do taxes need to
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I also think our government
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ANT wrote: The Republicans
The problem with comments
Also, just because there is
Stimulus was shit. Cutting
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restructure-this wrote: ANT
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I think the issue comes from
ANT wrote: Stimulus was shit.
+1 awm55 This isn't your
ke18sb wrote: +1 awm55 This
Agreed, the worst is when
ke18sb wrote: Agreed, the
awm55 wrote: ANT
awm55 wrote: ke18sb
txjustin wrote: awm55
txjustin wrote: awm55
awm55 wrote: txjustin
awm55 wrote: txjustin
txjustin wrote: awm55
txjustin wrote: awm55
ANT wrote: Stimulus was shit.
The liberal insanity on this
Reality hits you hard, bro...
rothyman wrote: ANT
awm55 wrote: txjustin
txjustin wrote: rothyman
You honestly can't compare
Half this country pay
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txjustin wrote: You honestly
what are the arguments
blastoise wrote: what are the
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People are born into poverty
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there's a basic level of
Nobama88 wrote: blastoise