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Title: Obama's Worst Week, Pawlenty's Best
Source:
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URL Source: http://online.wsj.com/article/SB100 ... 4432304576371811156235004.html
Published: Jun 9, 2011
Author: DANIEL HENNINGER
Post Date: 2011-06-09 03:28:40 by socalv8
Keywords: 2012 election, obama, pawlenty
Views: 2385
Comments: 18
If next year the American people pull the plug on the Obama presidency, mark down the past week as the beginning of the end . . . and what looks like the real beginning of Tim Pawlenty's candidacy. Incumbency isn't merely a function of political inevitability but of the fact that a presidency commands potent tools of self-restoration. Barack Obama's decision to kill Osama bin Laden was one such weapon. But we now see that this welcome May Surprise was insufficient to thwart the one force bigger than the American presidency—the U.S. economy. As of this week, it's looking like a long mudslide through the economy to November 2012. The Washington Post/ABC poll out Tuesday reported that the bin Laden uptick in approval for the president has washed away already; some 59% profess disdain for the president's mishandling of the economy. The catalyst was last Friday's depressing numbers on new job creation. Instead of the 175,000 new May jobs some economists thought they saw in their liquid crystal algorithms, only 54,000 jobs materialized in the real world. As bad, the Case-Shiller index revealed a bad housing market getting worse. Also as bad, most leading economic indicators appeared to be leading from behind. The stock market, the last redoubt of the optimists, is going south. Austan Goolsbee, the president's top economic adviser, used the Sunday morning platforms to argue that the "variable" jobs numbers were "bumps on the road to recovery." Pro-administration analysts, including Mr. Obama himself, argued that the economy was battling tough but temporary "headwinds" such as Asian tsunamis or Midwest tornadoes that disrupt supply chains. In defense of the integrity of the government's data gatherers, the Bureau of Labor Statistics put out a statement that "We found no clear impact of the disasters on the national employment and unemployment data for May." Barack Obama's worst week was about more than bad data. The two great legislative monuments to the first Obama term, the remaking of the health-care industry and the Dodd-Frank financial reform, look like they've got serious structural cracks. A McKinsey report estimates that a third of employers will abandon their health-insurance plans come 2014. On Tuesday, The Wall Street Journal reported that the failure (or inability) of Dodd-Frank's regulatory arm to write new rules for the $583 trillion derivatives market has the financial sector in a panic over its legal exposure. The worst was yet to come: Mr. Goolsbee announced he was departing the White House for the irresistible pull of academic tenure. What this signifies is that Mr. Goolsbee, a reputable economist, knows that in terms of economic policy, the Obama armory is empty. From within the exclusively demand-side context of the president's economic policy, there are no more bullets in the carbines. This president is now virtually defenseless against the inexorable forces of the U.S. economy. All that's left is whatever comes of Ben Bernanke's 30 months of close-to-zero interest rates atop two Quantitative Easings, the greatest untested economics experiment in the history of the world. No wonder Tim Pawlenty is smiling. Amid a news cycle whose message is "nothing's working," Mr. Pawlenty delivered a major speech on economic policy whose title could have been: All the Things Barack Obama Has Not Tried to Do to Lift the Economy and Never Will. Whether Gov. Pawlenty's prescriptions—dramatically lower individual and corporate taxes, zero taxes on capital gains and dividends, sunset provisions for federal regulations and a growth-rate target of 5%—are provable as solutions is politically beside the point at this moment. As substantive brand differentiation, the Pawlenty speech was a success.
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#1. To: socalv8 (#0)
It just goes to show you that if you're a Democrat and a "total phuck up", you can and will be rewarded for your efforts...
"I love the 45 caliber M1911, I respect the 9MM M9 Beretta but I only carry a CZ for my own personal protection". Quote courtesy of Lt Col John Dean Cooper, recognized as the Father of Modern Handgunning
Explain, then, GW Bush...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" http://ckm3.blogspot.com/ "Privatizing Pawlenty: GOP hopeful Tim Pawlenty says that “if you can find a good or service on the Internet, then the federal government doesn’t need to be doing it,” Pawlenty said he would privatize Amtrak, the Postal Service, Fannie and Freddie and the GPO. And the military." Smile: House Republicans insist that trillions of dollars of spending cuts must accompany any rise in the debt limit, but no tax increases – ever again. That dog won't hunt. Republicans say it is unnecessary to raise revenues because they are already projected to rise substantially in 2013 when the Bush tax cuts expire. Sorry, that dog don't hunt neither. http://jessescrossroadscafe.blogspot.com/ Pawlenty's proposal of more tax cuts for corporations and the wealthy, while shifting more of the burden to the middle and lower classes, is probably the last gasp of a dying theory that still breathes life and does damage. Neither stimulus nor tax cuts will work on an economy that is broken from years of public policy that favored job destruction and median wage stagnation. It is like putting gas into a car wrapped around a telephone pole.
Going back to JFK, demand side tax incentives work better than a reduction in MARGINAL rates.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" "Mr. Cap and Trade" had a good week? http://www.politifact.com/truth-o-meter/statements/2009/sep/24/tim-pawlenty/pawlenty-changes- coursse-cap-and-trade/ ------- ----- "Thats because your basically and idiot." Pawlenty left Minnesota with the 4th biggest budget deficit in the nation, that sort of record endears him to Conservatives.
"Thats because your basically and idiot." I go back to the Whiskey Rebellion and Geo Washington. The Rock Island Bridge which was the basis for Corporations/SCOTUS/ 14th Amendment Persons and the Unlawful 16th Amendment and Jekyll Island. That's how much baggage the Tax Code carries. IT's just unfixable now w/o the utter destruction of the Top 6 'banks'. IMHO, James " The bubble economy that led to the recession was fueled by American consumers, businesses and banks taking on too much debt, particularly in real estate, during the decade before the crisis. Speaking of disappointment, Core Logic reports that at the end of the first quarter, 22.9% of those with mortgages were underwater, meaning their house was worth less than the debt owed on the house. This is called negative equity. CoreLogic ... today released negative equity data showing that 10.9 million, or 22.7 percent, of all residential properties with a mortgage were in negative equity at the end of the first quarter of 2011, down slightly from 11.1 million, or 23.1 percent, in the fourth quarter. An additional 2.4 million borrowers had less than five percent equity, referred to as near-negative equity, in the first quarter.
Taxes won't do anything now. The $1.5 Quadrilion in debt/debt derivatives is just too large a number. And the Top 50 000 freak whenever the two words 'De-Leverage' and 'Default' are mentioned...;} "So what happened to the mortgage debt? Mostly, it was transferred from the "homeowner" to Fannie and Freddie by way of the banK which originally lent out the money according to Carmen Reinhart. Who took the loss? Fannie and Freddie, which the government took over in 2008, and which has cost taxpayers over $153 billion so far. Meanwhile, the household debt mountain was holding steady the last time I looked, meaning that total thousehold debt, including soaring student debt, was no longer shrinking. So much for our vaunted de-leveraging."
If he reconsidered the disinformation posing as New Science I only care about what he says and does NOW.
Owe-bama, Pelosi Galore, and Dingy Harry Reid make him look like a amature, Dumbass. Glad you brought it up. See what happens when you rely on media matters/DNC talking points to the exclusion of actually THINKING? Dumbass.
Proxy IP's are amusing.....lmao
Large majority of voters see it the same way.
Proxy IP's are amusing.....lmao
The irony that is Boofer is overwhelming.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" Well, it does make it easier to ignite, destroy and remove.
Pawlenty the real deal? The usual suspects reaction to him means he's on the right track.
I don't know about Pawlenty. He has a great campaign commercial, but the guy puts me to sleep when I listen to him. As for the Leftwingers going after him...he's a Republican. Its what they can do to fill the void when the topic is Owe-bama and HIS FAILURES. Which are becoming epic at this point, with no change foreseen between now and the election next year.
Proxy IP's are amusing.....lmao
Boofer has abandoned Gingrich and is "all in" on Romney according to a recent post of his over at littleoldladieshavingtea.com... I noted a few months ago that I believed that the GOP was ripe for Pawlenty's taking. He's got conservative credentials ex-the Moonbat factor, youth and vigor and he's telegenic. I don't believe Romney survives Super Tuesday - again - and the race will come down to Cain or Bachmann and Pawlenty. Hilarious watching Newt implode, tho.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" Above is for you as well...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" Well, it does make it easier to ignite, destroy and remove. And it adds to the GDP! ;}
The worst was yet to come: Mr. Goolsbee announced he was departing the White House for the irresistible pull of academic tenure.
#2. To: CZ82 (#1)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#3. To: CZ82, war, All (#1)
#4. To: mcgowanjm (#3)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#5. To: socalv8 (#0)
and what looks like the real beginning of Tim Pawlenty's candidacy.
Back in 2007, Pawlenty was positioning himself as an environmental leader, pushing for aggressive reductions in greenhouse gases and a regional cap-and-trade plan.
To track Pawlenty's evolution from treehugger to cap-and-trade skeptic, we need to turn the clock back to 2007. At the time, the Minnesota Legislature was debating the Next Generation Energy Act of 2007, which outlined the state's goals for greenhouse gas reductions. The bill required the state to reduce its emissions 15 percent by 2015 and 80 percent in 2050. It also endorsed the Minnesota Climate Change Advisory Group, a panel charged with drafting a comprehensive greenhouse gas emission reduction plan to meet those goals.
On May 25, 2007, the day Pawlenty signed the bill, he said the state should have taken action 30 years ago.
"The nation has been asleep at the switch, but here in Minnesota we are kick-starting the future by increasing our nation-leading per capita renewable fuel use, boosting cost-saving measures and tackling greenhouse gas emissions," he said.
The list of Pawlenty's climate change achievements goes on, including the Minnesota Climate Change Advisory Group, which he formed to study the impact of climate change and make recommendations for the state.
Badeye posted on 2011-04-29 10:30:22 ET
#6. To: war, cz82 (#2)
Badeye posted on 2011-04-29 10:30:22 ET
#7. To: war (#4)
Going back to JFK, demand side tax incentives work better than a reduction in MARGINAL rates.
#8. To: All (#7)
#9. To: go65 (#5)
Mr. Cap and Trade" had a good week
Back in 2007, Pawlenty was positioning...
#10. To: go65 (#6)
Pawlenty left Minnesota with the 4th biggest budget deficit in the nation, that sort of record endears him to Conservatives.
#11. To: socalv8 (#9)
#12. To: Badeye (#10)
Owe-bama [sic], Pelosi Galore, and Dingy Harry Reid make him look like a [sic] amature[sic], Dumbass.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#13. To: mcgowanjm (#3)
It is like putting gas into a car wrapped around a telephone pole.
#14. To: Badeye (#11)
Large majority of voters see it the same way.
#15. To: socalv8 (#14)
#16. To: Badeye (#15)
(Edited)
I don't know about Pawlenty. He has a great campaign commercial, but the guy puts me to sleep when I listen to him.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#17. To: socalv8 (#14)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#18. To: socalv8 (#13)
It is like putting gas into a car wrapped around a telephone pole.
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