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Obama's "economic fish stories," claiming that the stimulus was several times more potent than...

Obama's "economic fish stories," claiming that the stimulus was several times more potent than his own chief economic adviser believes, are becoming embarrassing. The numbers so lack credibility, they might as well have been pulled out of a hat.
Comments (49)
  • tripleblack
    , contributor
    Comments (13483) | Send Message
     
    Voldemort and his Death Eaters are rediscovering some very old magic: Tell big enough lies, often enough, and beat the dickens out of anyone who points out the truth, and you can get a lot of the great unwashed to believe you.

     

    There should be a law of physics to cover this, something that would sound vaguely like "The Law of Inverse Relationships".

     

    The more outlandish the fib, the more Inverse the Relationship to reality.
    21 Jul 2010, 06:35 PM Reply Like
  • D_Virginia
    , contributor
    Comments (2280) | Send Message
     
    I voted for Obama (a hell of a lot better than the alternative), and I really think he might have been a good president if he had a Congress that was worth a damn, and if he had gotten the slightest bit of support across the aisle from The Party of We Refuse To Even Pretend To Do Our Jobs.

     

    But now he's just making stuff up as he goes along....

     

    Oh well, maybe next president...
    21 Jul 2010, 06:37 PM Reply Like
  • tripleblack
    , contributor
    Comments (13483) | Send Message
     
    I know how you feel, Virginia.

     

    I'm a Libertarian.

     

    We NEVER win.

     

    Its time to stop beating ourselves up over electing he-who-must-not-be-named, and start working together to fix things.
    21 Jul 2010, 06:42 PM Reply Like
  • enigmaman
    , contributor
    Comments (2686) | Send Message
     
    Virginia, right out the Obama play book " always blame somebody else, and never take responsibility for any mistakes let somebody else fall on the knife for you or throw them on the knife"
    21 Jul 2010, 07:05 PM Reply Like
  • Truth-hurts
    , contributor
    Comments (148) | Send Message
     
    My new philosophy is: Sometimes, you just need to find a comfortable deck chair, and enjoy the Titanic's band.
    21 Jul 2010, 07:16 PM Reply Like
  • Not_a_planner
    , contributor
    Comments (183) | Send Message
     
    I'm personally regretting my vote for Obama

     

    If we were going to get a traditional business as usual politician I would have preferred an more effective one like H Clinton now
    21 Jul 2010, 07:21 PM Reply Like
  • Not_a_planner
    , contributor
    Comments (183) | Send Message
     
    Honestly that sounds like the book Dubbya Bush wrote. Recall that guy ever admitting anything?
    21 Jul 2010, 07:21 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    In all seriousness, didn't you recognize Obama as a con man when he was campaigning? I am not taking a cheap shot at you. I am asking a serious question.

     

    He said on two occasions that he would raise capital gains taxes even if it meant a reduction in revenue because it is the right thing to do. He told this to O'rielly and to the moderator of one of the debates that was held on the networks.

     

    Even democrats would not want a decrease in revenues. Republicans obviously wouldn't want an increase in penalties for investing, so his commitment to doing such a thing was only because he thought it would sound good to his base of voters.

     

    When he stated he was against the DC Voucher program, which cost only $7500 per student and produced results one plus years ahead of public school children of the same age because he said he believed in public education, didn't you question his decision in years past to send his daughters to private educational institutions?

     

    And when he said that government health care would reduce costs and increase outcomes, didn't you question when and where the government has achieved a cost savings and quality increase over private sector operators in the past? When he said that public health care was working well in Canada, did you do any research on the quality of health care in Canada? Any research regarding waiting times in Canada, the level of procedural options available to Canadians as compared to Americans etc? Did you ever look at the average cost of health care per Canadian compared to how much a private insurance policy costs from and American insurance carrier?
    21 Jul 2010, 08:02 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    By the way DV, can you say for certain that Obama's performance has been better than what the alternative would have been, since that alternative was not allowed the opportunity to govern?
    21 Jul 2010, 08:06 PM Reply Like
  • labas112
    , contributor
    Comments (311) | Send Message
     
    Why bother voting? Neither side produces any results now a days.
    21 Jul 2010, 08:13 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    The compensation for President should be performanced based. If unemployment drops a certain percentage, the president should get paid, if GDP increases (not including government spending), the president should get more money etc.

     

    However, if unemployment goes up or deficits rise etc., then the President gets no pay etc. Give him an incentive laden contract and have an elected outside body that watches and reports back on performance measures.
    21 Jul 2010, 08:17 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    So your sorry you voted for the socialist? So are we.
    21 Jul 2010, 08:19 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Now you are coming to the realization that his lack of experience actually counts, it's a little late, don't ya think.
    21 Jul 2010, 08:21 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    What is it about HC that you think would make her effective as president?

     

    She's just like Obama. Hillary says that the wealthy have to be more responsible and pay their fair share of taxes, yet after her campaign for President in 08', she asked for her supporters to finish paying off her election bills even after she lost. I don't get that. She decided to spend the money, she would of been the one to reap the majority of the benefits, yet she passes the buck to her supporters so that she gets off the hook.

     

    Don't get me wrong, I dislike all politicians, just saying that I don't get the appeal of HC, other than the name recognition thing - kind of reminds me of highschool though - popular kids are voted for.
    21 Jul 2010, 08:54 PM Reply Like
  • mike8599
    , contributor
    Comments (587) | Send Message
     
    Bush wasn't an accomplished liar like this guy is........
    21 Jul 2010, 09:38 PM Reply Like
  • Not_a_planner
    , contributor
    Comments (183) | Send Message
     
    "The compensation for President should be performanced [sic] based. If unemployment drops a certain percentage, the president should get paid, if GDP increases (not including government spending), the president should get more money etc."

     

    Wow. where do we begin this? Or should we just ignore you?
    21 Jul 2010, 10:04 PM Reply Like
  • Credible Clarity
    , contributor
    Comments (160) | Send Message
     
    Experience isn't the issue. Think about it. Think about "W". Think about great presidents and lame presidents. Experience is not what separates them.
    21 Jul 2010, 10:15 PM Reply Like
  • lakeside
    , contributor
    Comments (58) | Send Message
     
    You are so correct. It's a moral compass. And a belief in something. Obama has neither.
    21 Jul 2010, 11:17 PM Reply Like
  • Missing_Link
    , contributor
    Comments (452) | Send Message
     
    > In all seriousness, didn't you recognize Obama as a con man
    > when he was campaigning?

     

    This wins it. I have never seen a more transparent fraud in my life than Barack Obama.
    21 Jul 2010, 11:47 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    Common sense is what makes presidents great. It only takes common sense to make 95% of the important decisions that a president is faced with.

     

    For example, on immigration, common sense would tell a President that he can't simply allow an environment to perpetuate whereby anyone who wants to enter the country illegally and stay, can. If it were acceptable, then why not let the 100's of millions of Chinese, Indians, Russians, South Americans etc. who would come in a heartbeat if it were. Everyone knows the answer to this. America can't afford the support and integration costs that would come with all these new immigrants. So, if it's not okay for everyone to do it, it's not okay that 20 million illegals from Mexico did it and are fighting to stay. It's just common sense.
    22 Jul 2010, 11:44 AM Reply Like
  • enigmaman
    , contributor
    Comments (2686) | Send Message
     
    They were not pulled out of his hat, he pulled them out of the other end!!!
    21 Jul 2010, 07:01 PM Reply Like
  • CRUDE GOLD
    , contributor
    Comments (369) | Send Message
     
    Thanks Barack. We will have a nice winter bottom fishing.
    (Maybe in the meantime you can ask your partner Ben to kick is own a..)
    21 Jul 2010, 07:14 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6774) | Send Message
     
    Obama was always a fish story.

     

    The problem was, most people that this was also true of the other team.

     

    A choice of "not-goods."
    21 Jul 2010, 07:14 PM Reply Like
  • skmayer
    , contributor
    Comment (1) | Send Message
     
    So it would be better if he had more Dems and could push through any agenda he wanted? I disagree. Having differences and finding middle ground is what makes a true leader great.
    21 Jul 2010, 07:25 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    You were sold a snake oil salesman and you bought it hook line and sinker..the press was on Obama┬┤s side so they NEVER said a bad thing about him....we to this day do not know to much about his history....its all shut off...why??? Why is there so much to hide. i would hope we can learn from this..but as you saw today from Bernanke...he could have been upfront as to what he was going to do..but he spoke in rhyme..no one understands what is going on..and that is very dangerous for a country...someone has to come out of the shadows that will tell the truth...and its bad..but also tell who he is going to fix it..the truth....its no longer the next election..its the survival of this Country.....IMHO
    21 Jul 2010, 07:35 PM Reply Like
  • Paul Nelson
    , contributor
    Comments (225) | Send Message
     
    Gee, the guy worked for one of the Bushies-must be believed-let's blame it on the guy who has been here 18 months-nobody else was responsible!!
    21 Jul 2010, 07:52 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    I'm sure you would hold Obama responsible for some of the trillion dollar deficits he has spent and has allocated going forward for the next 7 - 9 years.

     

    Also, no one is saying that Obama is expected to produce unemployment at 4%, budget surpluses today or have already solved the problems with Fannie and Freddie outright; however, it is the direction of these problems, going from bad to worse, that make people give Obama such a bad grade.

     

    Remember, during the campaign, he stated that he could move things in the right direction, that he was the one and no one else. He never said, for example, even if you let me spend a huge stimulus and run trillion dollar deficits, I still won't be able to keep unemployment below 8%.

     

    He also said that the new Health Care initiative was not a tax, but now that he has been challenged as to the constituionality of his law, his administration is arguing that he has the right to implement UHC under the government's taxing authority.
    21 Jul 2010, 08:25 PM Reply Like
  • Rose_Colored_Glasses
    , contributor
    Comments (939) | Send Message
     
    Paul -
    I am definitely in the corner of Positive Thoughts on this debate. You use a finger pointing kind of arguement while he addresses the situation much more objectively, and fairly.

     

    I agree that the President had alot on his plate, as did George. But when you spend a trillion dollars, and say it will deliver x amount of jobs, when you swing and miss on that size of bet - yours and all others┬┤ fingerpointing is childish.
    21 Jul 2010, 08:37 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4011) | Send Message
     
    The two party system is a symbiotic sham. It is designed to divide and conquer the electorate. If you are an apologist for either party you are either an apparatchik or a fool.
    21 Jul 2010, 08:17 PM Reply Like
  • Tuffmug
    , contributor
    Comments (120) | Send Message
     
    The stimulus just propped up a corpse and made it wave to the crowd. If Obama and Bernanke actually told us the truth (that the country and the world have been looted and raped by greedy bankers, corrupt politicians, amoral corporations, and debt addicted populations in the greatest Ponzi scheme in history) there would be riots, blood, and revolution. Obama didn't start this con but now he's got to keep it going or become the Hoover of this generation. I don't envy his position.
    21 Jul 2010, 08:18 PM Reply Like
  • Archman Investor
    , contributor
    Comments (2429) | Send Message
     
    I know I will probably get reamed out for this but here goes:

     

    I have never voted in my life. (Begin the reaming)

     

    As it is every American's right TO vote, it is my American right not to vote if I choose and I hope all will respect that.

     

    I spend zero time, none, talking about politics, masturbating in front of the TV watching MSNBC or FOX as they spew their "hate the other party, thats all that matters" nonsense. Or spend hours arguing on message boards with others who are just as brainwashed as the next political hack.

     

    I learned long ago that politics has absolutely nothing to do with getting anything done and everythng to do with simple appeasement and gettng re-elected.

     

    Government for the people vanished long ago, and the people of this country just do not care. If they did care, regardless of which party is in office right now, we would have had a revolution already and men like Barney Frank and Chris Dodd would have been tried and executed already for crimes against the people of the United States of America.

     

    I know we can spend hours arguing about politics on here and that is EXACTLY what both poltical parties want. They never want Americans to think for themselves and realize they have been lied to and abused. They only want Americans to stay in a lethargic state, electing the same and equally corrupt officials who in the end have no intention of ever improving the American way of life. Yes folks I do believe it is simple as that.

     

    BTW I still think the most funny video on Youtube in the past 2 years was the:
    "Obama gonna pay my mortgage video"

     

    What a dumb schmegeg that woman was...LOL
    21 Jul 2010, 08:30 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    I believe both parties want the political system and process to get bigger and more dominant because at the end of the day, if they are involved in a bigger game, they can take more from it.
    21 Jul 2010, 08:34 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    I am still watching Chris Christie. Hopefully he doesn't disappoint. I can't vote as I am not an American, but if I were, he would get my vote.

     

    In terms of available alternatives, I would want Guiliani to win the White House in 2012 because he apparently reduced spending and crime in New York, which of all places, is an impressive environment to do those two things in.
    21 Jul 2010, 08:37 PM Reply Like
  • Archman Investor
    , contributor
    Comments (2429) | Send Message
     
    Definitely a good point. The bigger the government, the more that can be stolen from the taxpayer without making a ripple in the pond.
    21 Jul 2010, 08:37 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    What you don't want to feed the Matrix? You can run but you are still part of the machine.
    21 Jul 2010, 09:13 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    This comment could have been written by my 82 year old father in law, who by birth is a true southern democrat. Are you from South Carolina?
    21 Jul 2010, 09:15 PM Reply Like
  • SlingWing9
    , contributor
    Comments (482) | Send Message
     
    The only hook, line, and sinker is if a person thinks Obama doesn't know what he's doing. Did you ever accidentally step in a hole while walking because you were looking in the wrong direction? The country is about to do just that - thinking we are on a road to avoid our destiny only to find out we're on the very road that leads right to it.
    21 Jul 2010, 08:55 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1856) | Send Message
     
    Yeah, I have been saying for a while, like many others, that he is definitely trying to break America's back. I get labeled a conspiracy theorist, but I guess when you recognize a truth that others don't, that's what they call you.

     

    Obama supporters can't have it both ways - if he is smart, then he is intentionally making decisions that are bad for America. If he isn't doing intentionally, but by error, then he can not be the intellect that many make him out to be.
    21 Jul 2010, 08:59 PM Reply Like
  • Swass
    , contributor
    Comments (419) | Send Message
     
    I disagree generally with the first fish stories article. While the article generally recognizes that the stimulus didn't work, it does agree it was necessary to bail out banks and such. This is complete hogwash. It doesn't surprise me that a professor wrote it though. Stealing money from the American people, or at least charging it on their credit card knowing we can't pay it back, to give to banks who made poor business decisions is unethical and immoral.
    21 Jul 2010, 09:10 PM Reply Like
  • CRUDE GOLD
    , contributor
    Comments (369) | Send Message
     
    Maybe the real problem is that you will pay back that debt,
    by the painful way (monetization) or the ugly way (there's
    still many beautiful houses around Beverley Hills).

     

    Some California residents think the national debt is not their business.
    It could be the mistake of a lifetime.
    22 Jul 2010, 08:16 AM Reply Like
  • Paul Nelson
    , contributor
    Comments (225) | Send Message
     
    More right wing crap-Have to say it must be about 80-20 at SA for the right wing nuts!!!
    21 Jul 2010, 09:44 PM Reply Like
  • zorrow
    , contributor
    Comments (875) | Send Message
     
    I'm inspired and proud to be an American when a hero like Michael Boskin exposes the fallacy of trying to interfere with the natural process of a depression. The audacity of Obama is insane. Michael a fellow at the Herbert Hoover Foundation has the right idea. Like his inspiration he knows that nothing is the best policy. Thank God for the contributions of Michael Boskin.
    21 Jul 2010, 09:45 PM Reply Like
  • nyuszika45
    , contributor
    Comments (633) | Send Message
     
    I can't believe I might agree with zorrow.

     

    Secondly, if anyone thinks that the current president, Clinton, or McCain would be a lot different in the current state of affairs, then you didn't really look at how much was pledged, paid, and used to "fund" the election campaign on all sides.

     

    My opinion since the mid-60's has been that the US was developing the best government money could buy - now it has it.

     

    Believe in political parties if you like - but in times of money being everything, there isn't enough space for a neutrino to pass between them.
    21 Jul 2010, 10:01 PM Reply Like
  • rooftop
    , contributor
    Comments (140) | Send Message
     
    Regarding the author: "Mr. Boskin is a professor of economics at Stanford University and a senior fellow at the Hoover Institution. He chaired the Council of Economic Advisers under President George H.W. Bush."

     

    Gee whiz, never saw that coming. I read the whole article and it seemed excessively biased, and the disclaimer says it all. I'm not saying I support everything the administration has enacted. However, it is incredibly easy to wait two years and then armchair quarterback through the rear-view mirror and rip into the administration as the author has done.
    21 Jul 2010, 11:17 PM Reply Like
  • BPYHO
    , contributor
    Comments (230) | Send Message
     
    Obama hasn't done the best job but he inherited a lot of this crap.
    21 Jul 2010, 11:24 PM Reply Like
  • dondon
    , contributor
    Comments (284) | Send Message
     
    Every president inherits crap. Obama knew this going in. He had two wars, Guantanamo, Tarp, and a housing bust. Instead of blaming he should be acting to correct the mess left to him. But instead he pandered to the unions by bailing out the states with his 700 billion dollar stimulus bill. Only a few hundred million went to help small business, the employment engine of the country. It was more important to him to pass health care legislation which will in the future add to unemployment due to the skyrocketing costs instead of working on a jobs creation bill by supporting lending to small businesses. It was more important to him to pass a financial regulation bill which will do nothing to stop another crisis rather than work on creating jobs in the private sector. It seems that the only private sector job he is willing to help create is a "green" job by throwing tax dollars at one or two businesses.

     

    I did not vote for Obama because it was obvious to anyone that opened his or her eyes that the guy was a charlatan. I knew alot of guys like him over the years, cool, slick, handsome and well spoken but total asses. Two more years of this guy with a democrat congress and this country is truly going to be unrecognizable.
    21 Jul 2010, 11:55 PM Reply Like
  • zorrow
    , contributor
    Comments (875) | Send Message
     
    You said it. Screw the Unions. No company should be too big to fail--- not even a country should be too big to fail. I applaud the decision of Rick Santelli to resign from GE controlled CNBC because they took Tarp money. He is a real American and is working with the Teaparty to make America better. If people would just have faith, Mr. Market will take us where we deserve to go.
    22 Jul 2010, 07:59 AM Reply Like
  • Credible Clarity
    , contributor
    Comments (160) | Send Message
     
    Last time I watched, Rick Santelli was still getting paid by GE/CNBC and representing the futures floor on the daily market show (notice I didn't say news -it's a bunch of entertainment, not reporting)
    22 Jul 2010, 09:37 AM Reply Like
  • zorrow
    , contributor
    Comments (875) | Send Message
     
    What???!!! Say it ain't so. Rick is no Tarpo Marx(ist). I had heard that we were going back to the gold standard and that we were going to waive the rules about living Americans being on coins. We were going to have our own "Looney" with Rick on one side and Ron Paul on the other. Now I don't know what to believe anymore.
    22 Jul 2010, 10:32 AM Reply Like
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