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Obama refocuses on jobs after weak labor report

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What can you say about this except, the "bad old days" under Bush, are looking better and better. For someone who promised, up and down, to fix things, he's doing a pretty damn bad job. Right now Democrats = FAIL.

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"new U.S. spending to create... jobs"

The Democrats simply don't get it. Government spending doesn't create jobs. Cutting taxes creates jobs. And, anyway, the government doesn't have any more money to spend. They've already spent it all.

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Sorry you're disappointed at Obama's/democrats success rate.

Getting the stock market and other investment avenues solvent again has been the challenge. Jobs that people should be able to get aren't available because banks won't loan money to them.

Take a look at this link ans it'll let you in on his success rate. Also a few other facts. < :-)

http://www.politifact.com/

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"Obama's/democrats success rate"

If this is success, I'd hate to see failure.

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As I mentioned before, the stock market's performance is irrational as the fundamentals have not changed.

Consumer Credit in U.S. Drops Record $17.5 Billion in November

By Vincent Del Giudice

Jan. 8 (Bloomberg) -- Consumer credit in the U.S. dropped a record $17.5 billion in November as unemployment close to a 26- year high discouraged borrowing and banks limited access to loans.

The slump in credit to $2.46 trillion was more than anticipated and followed a revised $4.2 billion drop in October, Federal Reserve figures showed today in Washington. The median estimate of economists surveyed by Bloomberg News projected a decrease of $5 billion. The figures track credit card debt and non-revolving loans, such as those to buy autos. [...]

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Youth and black unemployment are at historic highs. Millions are wakin up. Your historic cough cough vote for Obama? That was more about indulging your own narcissism than choosing a leader.

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Overall things are still better than before. At least the danger of the bottom falling out is now gone. I think mostly people believe things are stable, and that's a good first step in the process. The reduction of debt is a good thing as it should lead to more discretionary spending in the future.

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Obama greets those he created jobs for:

http://farm3.static.flickr.com/2679/4191596878_174ea3521d.jpg

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So long as the administration does not encourage another bubble, it shouldn't turn into a double-dip recession. However, we are looking at a long-term recession. They need to cannibalize failed institutions and stop propping up the federal GSEs. Fannie and Freddie represent ~$5 trillion in obligations that the United States government can not afford to take on in addition to its own obligations of ~$12.28 trillion. $250 billion for the GSE's... it's the tail wagging the dog. The taxpayer is paying for government corporations that lobby the very legislative body that is supposed to oversee them. Fannie Mae (2008): $3.86 million, Freddie Mac (2008): $5.81 million, Sallie Mae (2008): $2.58 million, etc. It's time to cut the purse strings.

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Overall things are still better than before. At least the danger of the bottom falling out is now gone. I think mostly people believe things are stable, and that's a good first step in the process. The reduction of debt is a good thing as it should lead to more discretionary spending in the future.

The point however, is that Obama made certain promises before the election, and since for that matter. Promises that he has not kept. In addition, his agenda has actually hurt the economy, putting more people out of work. The natural economic forces that would have spurred the country towards recovery, have been pushed back, slowing that recovery. Throwing on the additional burden of his new initiatives, by spending more money that we neither have, nor can afford to spend, is not going to help either. As Sarge said, if this is success, I'd hate to see failure.

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the government’s broader measure of unemployment — which includes people who have stopped looking for work or can’t find full-time jobs — ticked up 0.1 percentage point to 17.3% .... although he (Obama) added that the trend is pointing toward an improving jobs picture.

Heh, leave it to Obama to think rising unemployment stats are a good thing.

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“[W]hat makes this recovery plan so important is ... that it will create or save 3.5 million jobs over the next two years ...”

-- Barack Obama, at the signing of The American Recovery and Reinvestment Act in Denver, Colo., Feb. 17, 2009

Just words. Just speeches.

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