Democratic Food Fight in Progress

PresBO"s popularity is tanking. Saw a poll yesterday that said only 32% said health care reform was a good idea while 47% said it was a bad idea. Unemployment took a surprise uptick (at least that's the way it is portrayed).

Just wait until December sales figures are in. I expect more layoffs (other than seasonal) at retail stores and possibly another bankruptcy or two may be in the wind.

That won't help employment or housing.

Speaking of which, in some areas there is enough real estate inventory that there is no need to build a new house for at least 5 years.

A record number of banks failed this year putting more pressure on the FDIC.

Meanwhile back in DC Obamaman is chiding the banks for not lending. There is so much wrong with that I don't know where to begin but why don't we start with the lack of demand for loans. Until businesses feel confident in the direction of the economy there is no need to borrow for expansion or hire (or rehire). Even if there was demand for loans the increased reserve requirements and credit restrictions imposed by the govt make it almost impossible to float a loan unless you have sterling credit.

At the same time banks that took TARP money are paying it back as quickly as they can which further diminishes the effect of Barry's bully pulpit.

People are finally catching on that his words are hollow and really carry no weight.

About time . . .

With an ever growing deficit (and it will get worse), unemployment running out, COBRA/ARRA subsidies due to sunset and an increasing vocal group in favor of throwing out the Dem's, it is time to focus on what should have been done all along.

To borrow a phrase from Billy Clinton, "it's the economy, stupid".

Rather than pissing away money borrowed from the Chinese to bail out Wall St, insurance companies and auto makers, the money would have been better used to cut taxes. Putting more money in the hands of the people would create REAL jobs (not the fake ones saved or created with Stimulus) and unemployment never would have hit double digits.

Has Congress always been this stupid and incompetent or is just more magnified now?
 
Has Congress always been this stupid and incompetent or is just more magnified now?

Congress is simply a reflection of the voters. It's the people who are incompetent on both sides of the spectrum. Ignorance and stupidity breeds more of the same (literally and figuratively).
 
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