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Guest Post: President Obama's State of the Union: Ten Skirted Issues

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Submitted by Nomi Prins

President Obama's State of the Union: Ten Skirted Issues

I confess; I expected to be bored out of my mind listening to President Obama’s campaign - I mean, State of the Union - I mean campaign, speech. I kept hoping some truly earth shattering story would sneak in there beforehand, like say some discovery that Mitt Romney had been having an affair with Newt Gingrich’s ex-wife while he was creating jobs at Bain capital, and we could all focus on that instead.

It turned out that my pre-determination proved accurate. I wonder if the members of Congress felt the same sense of same déjà vu that I did, as they were bopping up and down and applauding. 

Obama's speech was a compilation of highlights from his past ones. One part optimism, two parts repetition equals one total uninspiring. Maybe it’s so boring, because it matters so little at this point. Taking away popularity polls, our national threshold for belief in hope or change has been trampled, not just because of Obama or Romney, but of the whole political apparatus that thrives on deflection of reality and posturing. We don’t have the same energy to expend listening to politicians, the endless spin that renders fact obsolete, responsibility absent, and true accomplishment, unnecessary.

We saw Optimistic Obama in his first address to Congress in 2009: “While our economy may be weakened and our confidence shaken; though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before.”

We got Presumptuous Obama in 2010: “As we stabilized the financial system, we also took steps to get our economy growing again, save as many jobs as possible, and help Americans who had become unemployed.”

We watched Philosophical Obama in 2011: “We are the first nation to be founded for the sake of an idea -– the idea that each of us deserves the chance to shape our own destiny.  That’s why centuries of pioneers and immigrants have risked everything to come here… The future is ours to win.”

Now, we had Campaigning on Fairness Obama. He returned to the roots of his pre-Presidential words, having accomplished little to attain the goal that his words implied. Here are ten things that President Obama skirted: 

1) The cost of healthcare insurance. Obama tried to play both sides, slapping a populace spin on an insurance industry gift. “That’s why our health care law relies on a reformed private market, not a Government program.” He claimed he won’t “go back” on things like health insurance companies being able to cancel policies. He didn’t say that insurance premiums have already risen 22% in the past two years. Republicans hate Obama’s ‘signature’ healthcare reform bill because it unconstitutionally forces people to purchase insurance. Democrats support the bill because Obama passed it. The reality is – by the time it takes effect in 2014, premium costs may have doubled. Frame it however you want, that means health insurance could cost twice as much when this bill takes effect as it did before it was passed. Meanwhile, there are more people without insurance (because they can’t afford it) even though insurance companies can’t cancel policies or deny insurance for pre-existing conditions. This bill merely offers insurance companies a wider pool of customers, with a few restrictions on how much they can pillage them.

2) Student Loan Defaults. Obama claimed he wants to cap interest rates on student loans - which would be great, but can only work in this particularly low rate environment. He urged  colleges to keep costs down – again, something that’s worked out really well when he’s mentioned it before. This year, student loan debt surpassed credit card debt, breaching the $1 trillion mark, at an average of more than $25,000 per student (and up 47% over a decade ago, not all under Obama, but a bi-administration problem is still a problem). Not surprisingly, student loan defaults rates have risen alongside this debt increase. Nearly 9% of loans defaulted in 2010, of those that began repayment in 2009, vs. 7% that began in 2008.) Obama didn’t mention this growing problem. 

3) Youth unemployment. Obama took credit for the creation of 3 million jobs (I’m not going to debate that here). Regardless, youth unemployment is at its highest rate since 1948. The unemployment rate for those under age 25 is 18.1%, (31% for blacks) havin risen sharply since 2008. Do the math. High student loan debt + diminishing  job prospects =  bad ending. Work-study programs have to be intense to really alter that.

4) Big banks. The largest firms continue to grow their asset bases and fee extrapolation strategies from their captive customer base (If you’re say, a JPM Chase customer, it costs you $5 to extract your own money from a Bank of America ATM – both banks get a cut). It was Obama that re-confirmed Fed Chairman Ben Bernanke for another fourteen years (and yes, a bi-partisan Congress agreed), and who still keeps Treasury Secretary, Tim Geithner around. Both men were gung-ho about the merger mania that dotted Wall Street in the fall of 2008 and making the ‘too-big-to-fail” banks bigger, as they now are.

5) Small banks. President Obama didn’t address the smaller bank closings occurring because the big banks got disproportionate subsides;, 389 smaller banks (with $297 billion in assets) failed from 2009 to 2011. Like during the early years of the Great Depression, this means less choice for individuals, less loans for local businesses, and consolidation of influence and market share for the big banks – which comprise Obama’s largest bundling base.

6) Borrowers. Despite a few tepid programs to help homeowners, the sheer number of foreclosures is higher today than it was in 2008. There were a record number of foreclosure filings:  2.9 million in 2010 and 2.7 million in 2011.  These are predicted to rise in 2012 amidst default surges and more lender notices than in 2011. 

Why? Because Obama’s program (that was supposed to help 5 million borrowers, and helped half a million) had to be approved by the banks. Banks don’t like citizen aid programs, even if they screwed them to begin with by fueling a $14 trillion toxic asset pyramid repackaging risky (for people), high interest-bearing (for them). Obama said, “The banks will repay a deficit of trust”? What?! When?! Where?!

7) Recent regulator incompetence. Regulators looked the other way, Obama said, pre-crisis. But he mentioned nothing about the regulators giving a pass since; the SEC bestows banks settlements for fraudulent mortgage asset products, without extracting any admission of wrongdoing. He missed saying anything about the lack of related DOJ criminal indictments. The top five banks agreed to pay $1.149 billion to the SEC to settle subprime-mortgage related fraud charges, with no admission of guilt or criminal indictments. (The SEC settlement of $285 million with Citigroup was rejected by Judge Rakoff in November, 2011 and is being re-negotiated.) And Obama wants to create a Financial Crimes Unit? What’s the SEC supposed to be doing? or the DOJ? or the FBI?

8) MF Global and customer money. On the same topic – the deficit of trust thing: Obama avoided any talk about his buddy, Jon Corzine or MF Global, the nation’s eight largest bankruptcy. He didn’t point out how diabolical it was to use and ‘lose’ customer funds that were supposed to have been kept separate from bad bets. He didn’t suggest having a solid separation between customer money and financial firm money - as in - don't have it at the same firm. He claimed to ‘we will not bailout you out again” and yet, we still are.

9) Banks hoarding. Obama neglected to mention the $1.6 trillion that banks are stashing at the Fed in the form of excess (and interest-bearing) reserves, which do nothing for the Main Street economy. Meanwhile, small business loans are at a 12-year low, having shrunk continuously since 2008.

10) Obama conveyed that we dodged a bullet with getting the banking system under control. He didn’t note the rising risk in the banking system: the largest four US banks (JPM Chase, Citibank, Bank of America and Goldman Sachs) control nearly 95% of the US derivatives market, which has grown by 20% since just last year, to  $235 trillion JPM Chase holds 11% of the world’s derivative exposure, Citibank, Bank of America, and Goldman comprise about 7% each. Goldman has 537 times as many (from 440 times last year) derivatives as assets and it’s still considered a bank holding company (as per Bernanke) that gets federal backing.

In all, the President's speech was reminiscent of George Clooney’s in Ides of March. We’ve heard it all before, maybe with slightly different words: America lost 4 million jobs before I got here, and another 4 million before our policies went into effect, but in the last 12 months, we added 3 million job. We must reduce tax loopholes, and provide tax incentives to businesses that hire in America. We must reform taxes for the wealthy (though he signed an extension of Bush’s tax cuts.) We must train people for an apparent abundance of expert jobs. We need more clean energy initiatives.  We created regulations (big sigh of relief he didn’t use the word ‘sweeping’) to avoid fraudulent financial practices. We will help homeowners. Wall Street must ‘make up a trust deficit.”   Like Jamie Dimon cares. 

In other words, Obama gave Wall Street a pass, while waxing populace. Don’t get me wrong. I expected nothing different. I will continue to expect nothing different, when he gets a second term, given the lame field of contenders all around.


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Wed, 01/25/2012 - 09:37 | 2095932 UTICA CLUB XX PURE

I did'nt watch it.


Wed, 01/25/2012 - 09:46 | 2095962 clones2
clones2's picture

He sure likes to blame everyone else for the Nation's problems...

Wed, 01/25/2012 - 10:15 | 2096041 Popo
Popo's picture

Obama likes to avoid the inconvenient truth that he appointed -- and *continues* to appoint -- members of the banking oligarchy to his cabinet.

Larry Summers?  Tim Geithner?  And then there's his love affair with ex-Citibank & Goldman bigwigs.   Obama is a disgrace.   He is a wolf in sheep's clothing.   Or more harshly -- A backstabbing liar.

He preaches "change", and then appoints the architects of our destruction to key positions of power where they can inflict maximum pain upon the middle-class.   Fuck that lying sack of shit and his banker-sponsored campaign.   Obama *is* the banking system.   If he proposes bailouts for mortgage-stricken Americans, he is really just bailing out banks.   If he proposes rate reductions -- he is really just handing money to his buddies at Fannie Mae. 

Talk about 'prosecutions',  'convictions',  'perp walks'  and a 'return to law' -- or please shut the fuck up, Barack.  

He's a banker tool -- and we all know it.   There's a reason his approval rating is in the shitter -- and it's because everybody's sick and tired of words like "Change" when not a single banker has gone to jail.  And let's be clear:   THOUSANDS need to go to jail.  

Get to fucking work Barack.  You useless empty suit.


< / rant off >

Wed, 01/25/2012 - 10:56 | 2096161 BLOTTO
BLOTTO's picture

Popo - Obama is working extremely hard...for his masters.

Wed, 01/25/2012 - 11:21 | 2096214 Woodyg
Woodyg's picture

Exactly.... Just as people say if reelected he'll 'then' do the right thing as he no longer has to fight for campaign funds......

What BS - if reelected the ONLY thing the Oilybomber will care about are those $250,000 1/2 hour speeches.....

In Europe they had to force austerity and new banksters as leaders upon the masses - no need for a coup here - hell we ELECT them willingly!!!

Wed, 01/25/2012 - 11:56 | 2096314 TruthInSunshine
TruthInSunshine's picture

And Number 11 - The debt ceiling:


The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

-- Senator Barack Obama; Speech from the Senate Floor on March 20, 2006

*At the time, Senator Obama was urging Congress not to tolerate an increase that would bring the debt ceiling to $9 trillion. Since Obama made that speech, and since he took office as POTUS, the debt ceiling is 42% higher (IOW, in 5 short years), and Obama will be requesting another massive 'bump' in the debt ceiling soon.

Wed, 01/25/2012 - 11:30 | 2096186 Jay Gould Esq.
Jay Gould Esq.'s picture

I happen to enjoy "skirted" issues very much. Frankly, with ten skirted issues -- what's to complain ?

Wed, 01/25/2012 - 11:35 | 2096252 DaveyJones
DaveyJones's picture

He skirted the issues and cross dressed as a populist

Wed, 01/25/2012 - 12:38 | 2096490 eatthebanksters
eatthebanksters's picture

There used to be an old saying,"White man speak with forked tongue."  I guess it's not a monopoly any more....

Wed, 01/25/2012 - 13:28 | 2096658 Grinder74
Grinder74's picture

No, it fits.  He is just as much white (50%) as he is black.  The 44th White President "speak with forked tongue".

Wed, 01/25/2012 - 13:40 | 2096706 DosZap
DosZap's picture


Obama likes to avoid the inconvenient truth that he appointed -- and *continues* to appoint -- members of the banking oligarchy to his cabinet


You forgot Eco Nazis, and Marxists, Socialists,and Eugenics proponents.

Wed, 01/25/2012 - 17:24 | 2097703 the PTB
the PTB's picture

Obama *is* the banking system.

So why are you surprised.  The Anglo-American banking elite put him there.  You think he will make a move without its approval?  Yes, he is a tool and I suppose very happy to be one, given his sordid past.

Wed, 01/25/2012 - 09:56 | 2095991 MillionDollarBonus_
MillionDollarBonus_'s picture

What's all the fuss about? I though it was a good speech. My only criticism is that he made no guarantees concerning further fiscal stimulus and welfare spending. President Obama needs to reassure the American people that there will be NO cuts to social security, Medicare or Medicaid and that he will bring the budget under control by improving EFFICIENCY of government rather than cutting spending.

Wed, 01/25/2012 - 10:03 | 2096019 duo
duo's picture

do you ghost write for Rachael Maddow in your spare time?

Wed, 01/25/2012 - 10:07 | 2096039 Mercury
Mercury's picture

Think of him as the mirror image of Stephen Colbert.

Wed, 01/25/2012 - 11:05 | 2096176 Zero Govt
Zero Govt's picture

the speech (dribble) was political posturing par excellence.. it was designed to deflect attention to idealism and 'promises, promises, promises' and away from 'performance, performance, performance'

Bummas record is fuking diabolical... the biggest socialist spending orgy in global history and the Trotsky tosser has got nothing/zippo to show for it

Bumma is escaping to the 'ideological high ground' of promising a fairer (Communist) tomorrow despite his previous elected promises all falling miserably leaving voters, even black ones, leaving this lying creep in droves.

Bumma has painted himself into a corner and has no option to fight on the vacuous 'promises of tomorrow' because his actual record is a pile of lying incompetent steaming crap (miserable failure)

Bumma is a slippery little shit (politicians in a nutshell)

Wed, 01/25/2012 - 11:39 | 2096264 narapoiddyslexia
narapoiddyslexia's picture

MDB is a great troll. Its kinda' difficult to understand why he is not more appreciated.

Wed, 01/25/2012 - 12:00 | 2096339 tarsubil
tarsubil's picture

His up votes are growing.

Wed, 01/25/2012 - 11:59 | 2096331 tarsubil
tarsubil's picture

Have you ever seen Rachel Maddow and Sean Hannity together at the same place? Think about it.

Wed, 01/25/2012 - 13:30 | 2096661 V in PA
V in PA's picture

Didn't they star in 'Spit Covered Whores 3'?

Wed, 01/25/2012 - 14:15 | 2096859 tarsubil
tarsubil's picture

Aha! Yes, but they were never in the same shot together!

Wed, 01/25/2012 - 13:23 | 2096637 AngryChair
AngryChair's picture

do you ghost write for Richard Maddow in your spare time?


That's better!

Wed, 01/25/2012 - 13:46 | 2096740 V in PA
V in PA's picture

Booooooo!   You stink!

jk. Welcome to ZH AngryChair. ;)

Wed, 01/25/2012 - 13:32 | 2096665 Grinder74
Grinder74's picture

Rachel Maddow's dildo learned to write?

Wed, 01/25/2012 - 10:04 | 2096024 WonderDawg
WonderDawg's picture

Where to start on this absurd post? I guess I'll just say, well done. Sarcasm plus coffee equals a good start to the day.

Wed, 01/25/2012 - 10:12 | 2096052 entropos
entropos's picture

Another perfect MDB post. God bless you and may your bonuses continue to roll in.

Wed, 01/25/2012 - 10:22 | 2096082 Dapper Dan
Dapper Dan's picture

Beware of what is coming!

"National Strategy for Global Supply Chain Security,"


Jan 25, 8:30 AM EST

AP Exclusive: Obama to protect US goods globally

DAVOS, Switzerland (AP) -- President Barack Obama has adopted a new strategy declaring for the first time that the United States has a national security interest to protect the nation's economic goods against terrorists, criminals and natural disasters in all corners of the globe.

Wed, 01/25/2012 - 10:15 | 2096059 doomz78
doomz78's picture

haha.  Million dollar bonus..  I am a big fan.  You write great stuff.  Very funny. 

Wed, 01/25/2012 - 10:25 | 2096093 Everybodys All ...
Everybodys All American's picture

I thought the speech writer was phenominal. Oh and well delivered by the empty suit.

Wed, 01/25/2012 - 10:34 | 2096114 Sanksion
Sanksion's picture

Still the author of the most socially valuable comment.

It is not human to be so good everyday, never missing one.

You're my guiding north star.

Wed, 01/25/2012 - 12:25 | 2096434 DosZap
DosZap's picture


 I though it was a good speech.

For the first time I agree with you,except while he pontificates and lies with aplomb, he is deconstructing the Republic.

La Fabulosa!!

Wed, 01/25/2012 - 12:51 | 2096521 GeezerGeek
GeezerGeek's picture

I personally liked the part about all of us living under the same set of rules. That means my son can apply for and get a waiver to avoid being sucked into the standard Obamacare plan, just like unions and all O's other buddies. It also means I can, just like the banks, borrow a billion or two at zero interest and give it back to the Fed while collecting interest. Let's see, 1% of 1 billion is 10 million. That should supplement my social security stipend nicely.

What? That's not what Obama meant by us all sharing the rules? What a steaming pile, then...

Wed, 01/25/2012 - 14:08 | 2096581 SeanJKerrigan
SeanJKerrigan's picture

Sorry, the numbers just don't work here. You can't properly assess the validity of his talking points unless you understand the specifics.

The nation's headed toward a fiscal crisis in the next few years and the only way to solve it is to cut programs drastically which would collapse the economy.

You could delay the collapse by 1) cutting the military significantly or 2) cutting social programs, but it would have to be pretty dramatic.  Cutting the military would probably collapse GDP pretty quick anyway.  They will opt for gradual cuts in social spending as a way to delay the inevitable.

Generally though, they will continue to kick the can down the road, knowing it will eventually end catostrophically, drawing the whole world in to a giant war, but stategically it makes more sense than preemptively cutting off our own balls now.

I've posted this before, but its worth reposting in this context.  Audio: Simpson/Bowles defecit committe says 2-3 years till fiscal crisis.

Wed, 01/25/2012 - 10:09 | 2096045 Eireann go Brach
Eireann go Brach's picture

Yo Amerika, give me $3 Trillion more dollas and I promise I will drive the country over the cliff this time! Obama 2013!

Wed, 01/25/2012 - 11:47 | 2096295 DosZap
DosZap's picture

Another speech by a Chatty Kathy.........................SOS.

Fell asleep, hearing the same things he's GOING to do,bit NEVER does.

Wed, 01/25/2012 - 11:48 | 2096296 DosZap
DosZap's picture


Wed, 01/25/2012 - 11:53 | 2096313 DosZap
DosZap's picture

by the time it takes effect in 2014,

 Parts of Obamacare are already in effect, my employers passed along a 15%health care increase to us, never BEEN done before.

Thats $4k lesss a year to spend on living expenses.

Because of ObamaNocare.

Wed, 01/25/2012 - 13:49 | 2096750 memyselfiu
memyselfiu's picture

wow, is that how much americans are paying now for health care?

I'll take higher taxes and non-profit health care for $1000 Alex....any time

Wed, 01/25/2012 - 14:37 | 2096963 sgt_doom
sgt_doom's picture

Here's your synopsis:

Low Information Voter: Hurray, Obama's finally addressed "outsourcing."

High Information Voter: Yeah, just after he's signed three "free trade" agreements, and in the South Korean agreement at least 65% of the jobs don't even go to the South Korean workers, but are structured to go the North Korean slave labor camps!  (And didn't he talk about outsourcing when he was running for president the first time?  And what did he do in the interim?  Oh yeah....he's running the reelection!)

Low Information Voter:  Hurray!  Obama spoke about changes in the tax code.

High Information Voter: Ho hum......he mentioned that during his first presidential campaign, and nothing came of it and his advisor on "jobs and competitives" is the biggest tax evader, jobs offshorer, and pension assets fraudster around, GE's CEO, Jeffrey Immelt!

Low Information Voter: But the problem is, according to Obama, business leaders can't find enough qualified or skilled workers, so all these jobs go unfilled!

High Information Voter:  We've been hearing that drivel for over forty years, and they always repeat that crapola right before offshoring another batch of jobs.

Back in around 2002, 2003, when they laid off scores of IT people, and offshored some of their programming jobs to Ghana, they made the same exact claim. (Ghana???????)

Give me a break, already!!!!!

Low Information Voter:  But Obama said the economy is coming back, and a bunch of new jobs have been created.

High Information Voter: Well, since the beginning of the last Economic Meltdown, only 30% of jobs have been "recovered" -- of course, the data is kind of sketchy on how many of those jobs are full-time, and what they pay, and probable little or no healthcare benefits and that Healthcare insurance reform doesn't kick in until 2014 --- assuming it does actually materialize?

Low Information Voter:  But Obama said he's going after the banksters by creating some sort of Financial Crimes unit with the Dept. of Justice?

High Information Voter:  Yeesh!  Another subterfuge!  That Financial Crisis Inquiry Report was handed over to the DOJ quite some time ago, with plenty of ammo to go after the banksters and the three rating agencies, yet no action has been taken by the Obama Administration.  It's all smoke and mirrors and eye candy and two-facedness with that guy!

Low Information Voter:  So you're blaming Obama for everything?

High Information Voter:  Negative, sonny, I'm blaming him for continuing the impotent Bush neocon policies which only favor the super-rich, and I'm blaming him for appointing a 100% neocon administration, and I'm blaming him for doing as little as possible for American workers, minorities and women, and going after more whistleblowers than all previous American presidents combined, and like Bush cooked that Iraqi WMD intelligence data, Obama has now continued the same crap by cooking the IAEA Iran Nuclear Assessment Report (International Atomic Energy Agency).


Wed, 01/25/2012 - 09:43 | 2095934 MFL8240
MFL8240's picture

Another brilliant performance of lies at the (Police) State of the USSA last night with the chief clown telling all of us that rich people are evil as he courts more money than anyone in history from these people he professes to despise.  "Fairness" the clown claims is the answer, while under his tenure poverty is off the charts, food stamped off the charts, unemployment still over 16%, debt at alarming rates as he filled the pockets of his friends and the elite criminal banking cartel he claims are the enemy with 5 Trillion in taxpayer dollars.  This man is a joke and no one will come out and tell the truth about the Alinsky protégé.  Yes, the clown says he must be able to finish the job he started of destroying my country.  The people of America will live to regret 4 years of this man, 8 and there will be no way home.  He said, “We have gone too far to turn back”. I say Mr. Clown, “You have gone too far and destroyed this country, the question is, and can we turn back”?  I doubt it but nonetheless, I want him out and a person in office with AMERICAN Values, not Muslim Values to give it a try.


Wed, 01/25/2012 - 10:02 | 2096014 BLOTTO
BLOTTO's picture

More like: Anyone but - ANYone. In other words - the candidates dont matter.

Its tainted and polluted further up the stream... the 'ANYone' candidate is a puppet...

We need to cut the head off higher up the pyramid - why dont more people see this?

“The average citizen is the world’s most efficient censor. His own mind is the greatest barrier between him and the facts. His own ‘logic proof compartments,’ his own absolutism are the obstacles which prevent him from seeing in terms of experience and thought rather than in terms of group reaction.”Bernays, Crystallizing Public Opinion


Wed, 01/25/2012 - 11:40 | 2096269 DaveyJones
DaveyJones's picture

Didn't know Goldman, Monsanto and Chevron all bowed toward Mecca....?

Wed, 01/25/2012 - 11:41 | 2096272 Rick Masters
Rick Masters's picture

It's official! This comment board has officially become an echo chamber where no good idea gets born and the ones that get posted by Tyler(s) get quickly discredited by the likes of insane people like the poster above. Seriously, go back to 2009 where you belong. You can criticize Obama without the whole he's a Muslim thing. You do realize that only serves to energize his base and turn off the independents giving him a better chance of re-election right? Or is that type of deductive thinking too much for you?

Wed, 01/25/2012 - 12:02 | 2096343 tarsubil
tarsubil's picture

Tell me about it. I was the one that broke the story that the muslim story was just cover for him being a mormon but no one would listen.

Wed, 01/25/2012 - 09:38 | 2095935 Corn1945
Corn1945's picture

The American people have elected a clown as President for well over 100 years.

Wed, 01/25/2012 - 09:44 | 2095958 MFL8240
MFL8240's picture

In the case of Billy Blue dress, Carter the farmer/Billy Beer and Obama, I would agree.  I'll take Regan back in a second, he was no clown son.

Wed, 01/25/2012 - 09:56 | 2095989 ACjourneyman
ACjourneyman's picture

Regan was no great president of the 20th century. The national debt was under contro,l somewhat until he took office and that was when it started to rise out of control. He was a big spender of others money as they all are.


Wed, 01/25/2012 - 10:24 | 2096090 kralizec
kralizec's picture

Seriously, I suppose the Tip O'Neill democrats has absolutely no role in rising debt, eh?  Everytime the dem's promised "spending cuts" in the 80's & 90's they lied and increased spending anyway, and blamed Repub Presidents for shutdowns when extorting those concessions!  Get your history right!  It wasn't till Newt took congress from the dem's for the first time in 40 years where we had a government surplus in a fiscal year!  I shudder to think who you think a great 20th century president is!

Wed, 01/25/2012 - 10:40 | 2096129 ACjourneyman
ACjourneyman's picture

The only way to save this country is to reduce the size of government and government programs. The only one to do that would be Ron Paul, everyone else is more of the same I fear but I do agree we need a new republican or better tea party leader.The country can't afford  4 more years of a pre-totalatarianism gov.  and I don't want to be a slave. I can't even work anymore without doing this, wearing that, etc etc , just to protect myself from well myself.ANd who do I think would be the best president, I really don't know much  about US history as I grew up in Canada but I would have to go back to Washington, it seems it has been downhill from there.


Wed, 01/25/2012 - 11:46 | 2096290 DaveyJones
DaveyJones's picture

I love this debate who ballooned the debt. They all got us here. Both parties suck

Wed, 01/25/2012 - 13:54 | 2096767 memyselfiu
memyselfiu's picture

Yes, it was Newt that slashed military spending in the 90's........

we should throw that out and see if it sticks?

Wed, 01/25/2012 - 10:32 | 2096111 Everybodys All ...
Everybodys All American's picture

Regan never was a president. Ronald Reagan was though and you have shown your analysis is misplaced. Obama has spent more than any president from Washington up to and including Reagan together. That is of more import today.

Wed, 01/25/2012 - 11:25 | 2096230 Woodyg
Woodyg's picture

Federal debt from geo washington to Jimmy Carter - less than 1 trillion.......

8 years of Reagan - federal debt 3 trillion......

Nice work beating 200 years of presidents in a single administration.....

Wed, 01/25/2012 - 12:58 | 2096554 GeezerGeek
GeezerGeek's picture

By that standard, given another 4 years Obama will out-Reagan Reagan. Wow, that makes a warm tingly feeling go down my leg!

Wed, 01/25/2012 - 13:57 | 2096783 memyselfiu
memyselfiu's picture

by that standard Obama has another 5 years to triple the debt like Reagan did!

Do you think he can hit 27 trillion by 2016?

Wed, 01/25/2012 - 14:30 | 2096940 DosZap
DosZap's picture


By that standard, given another 4 years Obama will out-Reagan Reagan. Wow, that makes a warm tingly feeling go down my leg

Obama is a single celled protozoa compared to Reagan,he could not carry the mans hat.

Wed, 01/25/2012 - 12:09 | 2096368 DosZap
DosZap's picture


Regan was no great president of the 20th century.

Maybe not, but before he came into office, most folks were barely getting by, and inflation was thru the roof,and I was making 25% of what I was after his fost 2yrs in office.And, at least he was an American.

What has this dude done for ya?

Wed, 01/25/2012 - 17:01 | 2097584 ACjourneyman
ACjourneyman's picture

Don't get me wrong, I am 100% conservative and dislike the present gov vehemently, I just would like to see us live within our means.

Wed, 01/25/2012 - 13:10 | 2096600 GeezerGeek
GeezerGeek's picture

"The national debt was under control somewhat" is like being a little bit pregnant. The condition just gets more and more obvious as time goes on.

The nation's economy was floundering when Reagan took office, with astronomical interest rates and inflation rates. As others have pointed out, Reagan inherited a broken economy and had to deal with a Democrat-controlled House.. Same for Obama, and he had a veto-proof majority in both houses of Congress. Under Reagan the economy improved once the tax cuts were fully implemented, surpassing the starting point. I haven't seen anything like that yet.  Although not a Keynesian, I suspect that Federal deficit spending in the 1980s had a positive multiplier effect. Now it appears to be negative, and that's a big difference.

Wed, 01/25/2012 - 10:01 | 2096006 flattrader
flattrader's picture

Yeah.  He just blew the doors of regulation so the predator class had a freer hand.

His own budget director while still employed in his admin called his trickle-down theory voodoo economics.

Regan wasn't a clown.  He was a witchdoctor.

Wed, 01/25/2012 - 10:05 | 2096031 WonderDawg
WonderDawg's picture

Jesus Christ on a pogo stick. His name is spelled REAGAN.

Wed, 01/25/2012 - 11:27 | 2096233 Woodyg
Woodyg's picture

Actually Reagan was brain addled....... Just as Americans like their presidents..... Then bush 1 could do whatever the heck he wanted behind the scenes -

Remind you of another repub admin? Shrub bush and Cheney of course!

Wed, 01/25/2012 - 12:00 | 2096336 DaveyJones
DaveyJones's picture

Funny how people miss that. That silly Bush family's been messin around for a long time.

Wed, 01/25/2012 - 10:34 | 2096113 buckethead
buckethead's picture

Ive taken the Reagan was great stance... 


It took a bit of ignorance on my part. He might have gone into office as a "Goldwater Conservative", but he came out bathed in debt, deficits, huge government, CIA subversion, and MIC blood money.


He was still a swell guy.


Didn't GHWB run some government freedom watch agency for a while?


You cant hide from the see eye ayyyy.

Wed, 01/25/2012 - 12:19 | 2096414 ElvisDog
ElvisDog's picture

I think one of the things people look back on fondly with Reagan was that he actually believed the things that he said. In other words, whether you agreed with him or not he was at least genuine. With Obama (and Bush and Clinton before him) virtually everything out of his mouth is bullshit. You don't know what he really thinks or believes because everything is focus-group-driven spin.

Wed, 01/25/2012 - 12:29 | 2096455 DaveyJones
DaveyJones's picture

It's not so much the character of the men than the state of the country. The lies will continue to grow until (1) some revolt, (2) the complete collapse, or (3) both

Wed, 01/25/2012 - 11:25 | 2096228 fuu
fuu's picture

Trickle down voodoo, Bueller Bueller.

Wed, 01/25/2012 - 10:19 | 2096071 psychobilly
psychobilly's picture

The American people have elected a clown as President for well over 100 years.

You'll just confuse and anger the herd, who are busy being corralled by their televisions and radios into voting against their own interests and compromising all of their supposed principles (that they never really possessed in the first place).  Anyone but BushObama.

Wed, 01/25/2012 - 10:34 | 2096116 BLOTTO
BLOTTO's picture

Also, thanks to the help of the Illuminati controlled mass media for the huge influence and conditioning...

But the truth of the matter is - when both candiadates are FULLY on board to be a willing LAP DOG to - lick and suck off the masters genitals in the name of greed, power, lies, etc - than when did votes really ever matter?

Exactly - they never did.

'They' own both sides - they always have... they have to - its the only way to control the outcome of course.


Wed, 01/25/2012 - 11:28 | 2096240 Woodyg
Woodyg's picture

It's a club - and YOU ain't in it! Geo carlin

Wed, 01/25/2012 - 12:05 | 2096350 tarsubil
tarsubil's picture

I wish. If we had literally elected clowns, we'd be better off.

Wed, 01/25/2012 - 12:23 | 2096421 DaveyJones
DaveyJones's picture

They're better at juggling, like to run around in circles, can work with monkeys and  I always prefer a red nose to  brown.

Wed, 01/25/2012 - 09:40 | 2095939 stant
stant's picture

boiled down. the anal probing will continue until moral improves

Wed, 01/25/2012 - 09:41 | 2095940 Al Capowned
Al Capowned's picture

Oboma is just a lviing breathing Oxy -moron....

Wed, 01/25/2012 - 09:41 | 2095942 HD
HD's picture

Obama is in full spin mode now - he has to be. Problem with Obama isn't what he promises - it what he actually delivers.

Wed, 01/25/2012 - 09:42 | 2095945 GeneMarchbanks
GeneMarchbanks's picture

'I will continue to expect nothing different, when he gets a second term, given the lame field of contenders all around.'

Nomi of all people should understand that when Alessio Rastani announced "Goldman Sachs rules the world" he wasn't being provocative but reflective of todays affairs. As a former Goldmanite, she at least should point out that the abysmal state of affairs doesn't at all take shape according to who's in the White House.

So there you have it, gents, America is completely leaderless. Good thing corporations are people.

Wed, 01/25/2012 - 09:42 | 2095946 redytogo
redytogo's picture

I will be very surprised if we are not under martial law in many cities before November.  That will provide a second term to Obama, since we will also be at war with Iran by then, and those in "camps" will not be allowed to vote.  God help us all

Wed, 01/25/2012 - 09:44 | 2095955 Al Capowned
Al Capowned's picture

I wish this was Hyperbole but it just isnt anymore!

Wed, 01/25/2012 - 09:44 | 2095956 HungrySeagull
HungrySeagull's picture

I don't know about Martial law in MANY cities.

Maybe a few rebellious ones. It wont be the first time.

Wed, 01/25/2012 - 09:48 | 2095969 dukeystick
dukeystick's picture

They have started by detaining Rand Paul just this week.

Wed, 01/25/2012 - 12:01 | 2096334 DosZap
DosZap's picture


Good possibility, as Joint nighttime military exercises/choppers/rope drops,etc are being held all over LA, and in diverse parts of the USA NOW.

The EXCUSE is so they can be prepared for Urban conflicts if called out,Duh, did we not just have 7yrs of Urban conflict in Iraq?.

Make NO mistake these exercises are for you and I. If not for USE, for INTIMIDATION tactics.

Wed, 01/25/2012 - 09:42 | 2095948 lynnybee
lynnybee's picture

.... luv Nomi Prins, super young lady to be admired.

Wed, 01/25/2012 - 09:43 | 2095949 HungrySeagull
HungrySeagull's picture

Usually what is NOT said is much more important.

I feel that this Consitutionally Mandatory State of the Union should go through each of our 50 states one by one and examine each of the Federal budget items.

It will take a day to get it done instead of a evening applause fest.

Wed, 01/25/2012 - 09:43 | 2095950 achmachat
achmachat's picture

I like birds!  (and Nomi, of course)

Wed, 01/25/2012 - 09:44 | 2095954 Capitalist10
Capitalist10's picture

11.  Entitlement reform in the face of impending bankruptcy.

Wed, 01/25/2012 - 09:49 | 2095971 MFL8240
MFL8240's picture

Wont happen until you get a Republican Congress, Senant and president.

Wed, 01/25/2012 - 09:59 | 2096000 Dr. Engali
Dr. Engali's picture

I believe we had that and we got a new war in Iraq and another entitlement.

Wed, 01/25/2012 - 10:03 | 2096021 flattrader
flattrader's picture

You have a good memory.

Wed, 01/25/2012 - 10:19 | 2096073 LawsofPhysics
LawsofPhysics's picture

Thanks for pointing that out to this idiot who obviously still believes in the "two-party" lie.

Wed, 01/25/2012 - 09:48 | 2095970 WallStreetClass...'s picture

Obama, Nobama. You Americans are lost. The only reason you held together was because the times were good and no one really cared. Now that the money is gone, and debts are piling up, your individualism will get the best of you. You whine and beyach about Obama, but look at the alternatives - a bunch of Obama clowns, even worse than Obama perhaps. You are ruled by a handful of monopoly overlords, who are banked and incorporated offshore. In essense, you are back to square one - you are ruled from overseas, while you are kept divided over skin color, social classes, party dogma, religion, sexual preferences, etc. You are fucked people, at least have balls to admit it.

Wed, 01/25/2012 - 09:50 | 2095972 MFL8240
MFL8240's picture

Any Republican running is better than this clown.  Anyone of them!

Wed, 01/25/2012 - 10:06 | 2096037 blueridgeviews
blueridgeviews's picture

You are so right MFL8240. What people don't understand it's not just the President we are replacing but his entire staff! FUnny how no one mentions the Constitution in these forums. Have they all been asleep the last 3 years

Wed, 01/25/2012 - 10:22 | 2096080 LawsofPhysics
LawsofPhysics's picture

Still believe the two party lie huh.  What a good sheep you are.  The last republican president began with a republican house and senate and he added over 4 trillion in debt (starting from a surplus) and got us stuck in two useless wars that continue to cost the taxpayer money today.

The banks (who fund Obama, Romney, Santorum, and the Newt) love idiots like you.  Wake the fuck up, we have ONE party, period.

Wed, 01/25/2012 - 12:35 | 2096477 DaveyJones
DaveyJones's picture

Guess that's because the previous administration did so much good for the constitution. What a joke. Keep using exclamation points MFL and it will be true

Wed, 01/25/2012 - 10:07 | 2096040 WonderDawg
WonderDawg's picture

I fail to see any difference, with the exception of Ron Paul.

Wed, 01/25/2012 - 11:29 | 2096243 MeBizarro
MeBizarro's picture

Honestly this is the truth.  He is the only candidate who has presented a substantial alternative from the status quo.  Disagree with some of his positions but it is amazing to hear his answers in contrast to the other GOP candidates during the endless stream of mindless debates. 

Wed, 01/25/2012 - 09:52 | 2095980 francis_sawyer
francis_sawyer's picture

Ok we admit it... Now what's YOUR problem?

Wed, 01/25/2012 - 10:01 | 2096007 WallStreetClass...'s picture

admitting the problem is half of solution! have an upvote.

Wed, 01/25/2012 - 10:03 | 2096022 dukeystick
dukeystick's picture sounds like you had some bad mushrooms on the cold greasy pizza you ate for breakfast this morning.

(I read that Freud and Jung determined that overuse of "bold" typeface is inversely correlated to penis size.)

Wed, 01/25/2012 - 10:06 | 2096036 GeneMarchbanks
GeneMarchbanks's picture

Somebody wants some votes.

Individualism, often touted as an American character trait, is pure mythology. What you have is an incredibly vain conformity and general anomie. Look, what was often referred to as 'revolutionary' times a few short decades ago, has now entered the books for what it was: America's decline into decadence, solipsism and market nihilism. No reason to brutalize the poor bastards though.

Wed, 01/25/2012 - 10:15 | 2096060 therearetoomany...
therearetoomanyidiots's picture

And just wich European country are you in that gets constant bailouts from our Fed. 

Or, from which asian country are you that you haven't improved your existence from the wealth created by America.

Or, from which Latin American crap hole are you from that we haven't fucked over with our drug policy.


We'd much prefer you thank us and be on your way.  

Wed, 01/25/2012 - 10:25 | 2096094 GeneMarchbanks
GeneMarchbanks's picture

'Or, from which asian country are you that you haven't improved your existence from the wealth created by America.

This shit needs to stop. Any "wealth creation" that has taken place since WWII is somehow always brought back to the US as if the countless historic empires were lazy piss-puddles until 'Merika burst on the scene with 'boot strap work ethic'.

Asia has almost half the worlds population with literally billions of worker drones.

Wed, 01/25/2012 - 10:26 | 2096098 WallStreetClass...'s picture

I am from no country in particular. Currently, I hold American, Russian and Costa Rican citizenship. As far as you asked.

Wed, 01/25/2012 - 10:16 | 2096067 battle axe
battle axe's picture

What the hell are you talking about? "You americans are lost".  Buddy put down the crack pipe. And I have to agree, what is with the bold typeface, I think you might be trying to compensate for the small package you are carrying...

Wed, 01/25/2012 - 10:21 | 2096077 Sanksion
Sanksion's picture

I could tell the same about my fellow french comrades. Hardly a people prone to individualism....

Like did the argentinians, people prone to collectivism and even populism, nice collectivists, killing, kidnapping one another for a some worthless central bank notes.

We are all fucked up, ruled from overseas or from a nice national government agency .... Never noticed the difference for my life, still fucked up.

The only remaining question is : Is it really a whole planned conspiracy ? Or is it a mix of incompetence, accident, and a bit of old soviet subversion.

Wed, 01/25/2012 - 13:28 | 2096655 DosZap
DosZap's picture


Is it really a whole planned conspiracy ?

Yes it is,you have to be  moron not to see it.

Wed, 01/25/2012 - 09:51 | 2095974 learning2
learning2's picture


Just watch this hand while I just do this...wha la! BULL SHIT


And, the masses will buy this shit! I am ashamed to have been born into this shit ass country!

Just waiting to watch this shit come down. That is our only hope. Underground economy...

Wed, 01/25/2012 - 09:52 | 2095977 vegas
vegas's picture

Just 10 skirted issues? This fucking guy isa skirted issue. How anybody with a brain could vote for this empty suit is beyond me. He literally makes incompetent and corrupt look like an understatement. Soetero reminds me of Chalky from "Boardwalk Empire"; just a shill and a front man.

Wed, 01/25/2012 - 09:53 | 2095983 francis_sawyer
francis_sawyer's picture

empty skirt

Wed, 01/25/2012 - 10:45 | 2096101 Flakmeister
Flakmeister's picture

As I have said.... if O is as bad as everyone says, then the Repubs should have an easy time coming up with a viable alternative.... Let's see...

1) Mitt.....   Nope, he's the white mormon version of O and a kleptocrat to boot...

2) Newt....   Did someone say "Corn-pone Hitler"??

3) Rick S....  You gotta be kidding... Captain Ass Juice?

4) Herman...  Kept tripping over his dick....

5) Rick P...   Had a hard time counting to 3....

6) Michelle...   Never met a corndog that did not make her gooey... and a first class wackadoo

7) Huntsman....   Imagine a Repub that believes in GW and Evolution.... never had a chance

8) Trump....     A real estate hype artist that couldn't take his foot out of his mouth

9) Palin....      Quit the Alaska gig... true sign of a tough leader, not.

Which leave RP.... I like RP, I don't agree with everything he says but he is a decent guy...  Never had a real chance though given the GOP establishment...

So folks, with the exception of 1 guy, the Republican slate is a collection of asshats, emptyheads, crony capitalists that for the most part are intellectually and morally bankrupt....

Obama will likely kick the ass of any of the above, deal with it...

Note to the reading impaired, this is not an endorsement of Obama in anyshape or form, It is merely and indictment of the GOP candidates and prediction of the likely outcome in Nov..

Wed, 01/25/2012 - 11:32 | 2096247 MeBizarro
MeBizarro's picture

Depends.  Obama will have a tough time with Romney nationally.  If economy hits a downturn in the 2nd half this year, he's toast.  If Gingrich gets the nod, the GOP will likely either lose the white female vote nationally or get damn close because his personal story (dumping two sick wifes and remarrying right away) really turns a lot of women across the political spectrum off. 

Wed, 01/25/2012 - 12:19 | 2096413 Flakmeister
Flakmeister's picture

Obama will use Romney as a poster boy for tax increases on the kleptocrats... A lot of people will be introduced to what passes as American capitalism and they will wake up and say "So this is what has been going on??"... Romney will be lucky if he isn't chased by people wielding pitchforks....

Wed, 01/25/2012 - 12:26 | 2096440 Chump
Chump's picture

Meanwhile, a third of all voters want a new GOP candidate.

But remember, your vote matters!  Would you like the clown with blue face paint or red?

Wed, 01/25/2012 - 12:55 | 2096541 Flakmeister
Flakmeister's picture

Well.. if you were a GOP'er, wouldn't you???


Wed, 01/25/2012 - 12:16 | 2096400 DaveyJones
DaveyJones's picture

God, I feel better.

Wed, 01/25/2012 - 09:52 | 2095979 AC_Doctor
AC_Doctor's picture

The brown ninny speaketh in behalf of the bankers and the 49% who pay no federal income taxes and take in federal handouts.  When the takers are greater in number than the contributers, you are in deep shit...

Wed, 01/25/2012 - 09:55 | 2095988 Alex Kintner
Alex Kintner's picture

I luv it when Obama becomes that Campaign Guy -- so Populistic. But he'll go back to tongueing Wall Streets butt right after the election.

Wed, 01/25/2012 - 09:56 | 2095990 billwilson
billwilson's picture

Another racist clueless goof.

Wed, 01/25/2012 - 10:02 | 2096011 new game
new game's picture

big world shake down a coming. to understand, think where the oil is and who thinks they own it...

and don't forget about rare earth metals...

andwhere does the food come from?

unless the mother of all mothers says fuck you and starves the soilders...

7 billion times .618 =???

dont forget about the italian math genius.

just thinking...

Wed, 01/25/2012 - 10:02 | 2096017 youngman
youngman's picture

He will get a pass by the liberal press...he is a God to them...just add up what he wants...does it cost more or cost less....Obama costs more...period...

Wed, 01/25/2012 - 10:11 | 2096049 therearetoomany...
therearetoomanyidiots's picture

Just 'the press', there is no conservative press. 

Wed, 01/25/2012 - 10:30 | 2096102 Flakmeister
Flakmeister's picture

Do you just make shit up on the fly??


Wed, 01/25/2012 - 10:14 | 2096023 PD Quig
PD Quig's picture

Big sigh of regret that so many essayists don't know the difference between "populous" and "populist."

As far as O'Bumble's speech: tell me something I haven't heard a hundred times before, Barry. Yeah, yeah, tax the rich, blah, blah, blah. Just don't expect me to believe that even taxing everybody above $250K at a 100% rate would do any more than close your deficit for one year--assuming everybody would continue to work 100% for the government.

This ends in a total collapse because no politician can tell the truth to an America too ignorant of basic financial arithmetic to grasp how badly they are being bullshat.

Fuck 'em all.

Wed, 01/25/2012 - 12:09 | 2096364 DaveyJones
DaveyJones's picture

They hate it when you bring out the math

Wed, 01/25/2012 - 10:05 | 2096027 lolmao500
lolmao500's picture

As I expected, Obama warmongered against Iran.

Wed, 01/25/2012 - 10:12 | 2096051 WonderDawg
WonderDawg's picture

Yep, if there was ever any doubt about a war with Iran, Hopey just extinguished it. We are being conditioned to accept and support a war with Iran and their awful (yet, once again, unproven) Weapons of Mass Destruction. It's all so familiar. Kind of like deja vu all over again.

Wed, 01/25/2012 - 10:30 | 2096103 battle axe
battle axe's picture

We are definitely going to war with Iran. The other scenario is going to be "well Israel hit Iran and we have to support Israel" so it off to the races and more of our people have to die and our deficit has to get bigger, Fuck it. For the love of Christ, NO MORE FOREIGN WARS, that's it. 

Wed, 01/25/2012 - 12:10 | 2096371 DaveyJones
DaveyJones's picture

Anyone who would call Iraq "a victory" is not to be trusted.

Wed, 01/25/2012 - 15:22 | 2097169 Flakmeister
Flakmeister's picture

The correct term is Pyrrhic....

It is all about staving off the collapse of the petro-dollar....

Wed, 01/25/2012 - 18:53 | 2098026 DaveyJones
DaveyJones's picture

that it is   too bad it only puts us in a more pathetic economic state when the innevitable occurs despite our efforts. This is the most counterproductive preparation for peak oil we could have picked

Wed, 01/25/2012 - 19:04 | 2098049 Flakmeister
Flakmeister's picture

No argument from me on what you say....

I just call it as it I see it....

Wed, 01/25/2012 - 12:13 | 2096386 gladiator2
gladiator2's picture

Relax, it'll be a cakewalk.  Two, maybe three weeks at most.  

Has anybody heard the phrase "Slam Dunk" in the last 7 or 8 years ?   

Wed, 01/25/2012 - 13:13 | 2096606 Xkwisetly Paneful
Xkwisetly Paneful's picture

Iraq was a total failure like Vietnam.

No large scale domestic attacks in the US in 11 yrs and certainly not because of the efforts of the locals.

Maybe try Sun Tzu, think it was him who wrote dictating venue is fairly important in war.

As in blow yourself up vs trained volunteers half a world away in a sandbox instead of on Main St USA and of course the others would have fallen with or without Saddam.

Vietnam was a miserable failure too, the arms race following it basically bankrupted the Soviet Union but it was a miserable failure.

Wed, 01/25/2012 - 10:05 | 2096029 VelvetHog
VelvetHog's picture

As Tyler has pointed out:  Lies.

Wed, 01/25/2012 - 10:06 | 2096030 Stuck on Zero
Stuck on Zero's picture

What about prosecutions of Wall Street criminals?  No mention.

Wed, 01/25/2012 - 10:35 | 2096120 chubbar
chubbar's picture

I read where Jon Corzine was in the audience, that should answer your question about prosecutions.

Wed, 01/25/2012 - 10:09 | 2096044 GMadScientist
GMadScientist's picture

A "journalist" and "senior fellow"....who can't spell POPULIST. How can anyone take the political opinions of such a person seriously?

Wed, 01/25/2012 - 10:45 | 2096135 Normalcy Bias
Normalcy Bias's picture

Everyone suffers the occasional brain-fart. Lighten up, Francis.

Wed, 01/25/2012 - 12:02 | 2096342 ONO47
ONO47's picture

You gotta like a guy who quotes "Stripes"

Wed, 01/25/2012 - 10:17 | 2096058 VelvetHog
VelvetHog's picture

Most importantly the Obamanaut has pointed out that since the current policies haven't worked and aren't going to work, they are going to be continued throughout his next term. 


oBomba/ Biden (his time) - 2012!!!!!!!!!!!

Wed, 01/25/2012 - 10:15 | 2096062 Al Capowned
Al Capowned's picture

I think Obama derserves a second term because at least he had 'Reservations' about completely destroying the constituion and Bill of rights when he signed the NDAA.

He's not all bad see!

At least he will have 'Reservations' when asked to order and pay for 1000 human sized incineraters.

Wed, 01/25/2012 - 10:18 | 2096069 new game
new game's picture

illusion like a magician on stage...

what you see is not what is happening


what you hear is not what is going to happen.

but the audience sits in awe

the line forms for the next show...

hopeless as 90 percent are clueless.

only hope is to get to a place where the crossfire doesn't exist.

Wed, 01/25/2012 - 10:20 | 2096075 yogibear
yogibear's picture

If Turbo Timmy and Bernanke came to Obama for another bank bailout they would get it. The "TBTF" is still on. Nothing has changed.

Seems like a reason for companies like GE to post losses in the US and keep profits overseas. Fannie and Freddie keep coming back. 

Goldman, GE and all the rest can keep dumping their bad bets on the taxpayer.

Wed, 01/25/2012 - 10:31 | 2096108 ffart
ffart's picture

Canada wants to sell their oil to someone. Guess who wins?

Wed, 01/25/2012 - 10:34 | 2096115 GMadScientist
GMadScientist's picture


Wed, 01/25/2012 - 11:24 | 2096224 kill switch
kill switch's picture


Wed, 01/25/2012 - 10:32 | 2096112 Flakmeister
Flakmeister's picture

Because its not a job creator...

It is actually a job looser....


Wed, 01/25/2012 - 10:35 | 2096121 GMadScientist
GMadScientist's picture

Sssshhh...they don't want to know that it would be the equivalent of sending day laborers over the northern border.

That's right America, you are now Canada's Mexico.

Wed, 01/25/2012 - 11:36 | 2096254 MeBizarro
MeBizarro's picture

My favorite was Daniels indirectly linking high oil prices to the pipeline in his rebuttal.  Both sides are utterly full of cr@p on the issue with the truth somewhere in between as usual. 

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