Free Markets, Free People

fact check

Debunking the Obama economic litany in one chart

Ye olde “a picture is worth 1,000 words”:

IBD has the article.  One of my favorite myths is the Bush “tax cuts” (tax rate) and deregulation cause the recession.  Yeah, not so much:

It’s a standard Obama talking point. But it’s not true. Bush’s tax cuts did not cause the last recession.

In fact, once they were fully in effect in 2003, they sparked stronger growth — generating more than 8 million new jobs over the next four years, and GDP growth averaging close to 3%.

Those tax cuts didn’t explode the deficit, either, as Obama frequently claims. Deficits steadily declined after 2003, until the recession hit.

Nor was Bush a deregulator. Conservative Heritage Foundation’s regulation expert James Gattuso concluded, after reviewing Bush’s record, that “regulation grew substantially during the Bush years.”

Even the Washington Post’s fact-checker, Glenn Kessler, gave Obama’s claim three out of four “Pinocchios,” saying “it is time for the Obama campaign to retire this talking point, no matter how much it seems to resonate with voters.”

What did cause it?  What we’ve been saying since it happened, that’s what:

The housing bubble. And that, in turn, was the result of a determined federal effort to boost homeownership by, among other things, pressuring banks to lower lending standards.

So while the rest of the surrogate media “fact checks” Romney, here’s a basic fact check on Obama. And yes, if you’re still wondering … he’s full of it.

~McQ
Twitter: @McQandO
Facebook: QandO

It is better to remain silent and be thought a fool …

Here is an amazing letter to the editor at a college newspaper from a person who gives himself the title of "academic professional". I’ve looked at it off and on for a couple of days trying to figure out how to excerpt it and talk about this, well, fool. As it turns out, the best way to present it is to present it whole since excerpting it only takes away from the totality of the nonsense this "academic professional" is spouting.

In fact, as I read it, I have to tell you that it immediately reminded me of another “academic professional” that visits the comment section of our blog fairly regularly.  The only difference I can see is the “academic professional” I quote below actually is a part of a major university instead of some backwoods school.  Other than that, either could have written this:

The vast majority of 9/11 observances in this country cannot be seen as politically neutral events. Implicit in their nature are the notions that lives lost at the World Trade Center are more valuable than lives lost in Afghanistan, Iraq, Palestine and elsewhere; that the motives of the 9/11 attackers had nothing to do with genuine grievances in the Islamic world regarding American imperialism; and that the U.S. has been justified in the subsequent killing of hundreds of thousands in so-called retaliation.

The observance at Saturday’s football game was no different. A moment of silence was followed by a military airplane flyover; in between, Block-I students chanted “USA, USA.” This was neither patriotism nor remembrance in any justifiable sense, but politicization, militarism, propaganda and bellicosity. The University is a public institution that encompasses the political views of all, not just the most (falsely) “patriotic.” Athletic planners should cease such exploitation for political purposes. They might at least consider how most Muslim students, American or otherwise, would respond to this nativist display; or better, Muslims and others that live their lives under the threat of our planes, drones and soldiers.

The overwhelmingly white, privileged, Block-I students should be ashamed of their obnoxious, fake-macho, chicken-hawk chant, while poverty-drafted members of their cohort fight and die in illegal and immoral wars for the control of oil. University administrators need to eliminate from all events such “patriotic” observances, which in this country cannot be separated from implicit justifications for state-sponsored killing.

David Green,

University Academic Professional

You can dissect that to your heart’s content, and it is still, on whole, some of the most misguided stupidity you’re likely to see this side of Maine. 

Of course 9.11 observances aren’t politically neutral.  That neutrality died the day we lost 3,000 people to Islamic jihadist extremists who had been at war with us for years.  How did this yahoo get stuck in time on September 10th, 2001 for heaven sake? 

That sort of absurdly out-of-touch idiocy permeates the entire little screed.  And if you want to see the definition of “non neutrality” at work, read this “academic professional’s” denigration of his student’s nationalism, patriotism and – yes, wait for it – color.

And then there’s the “stereotypes-r-us” portion.  “Overwhelmingly white, privileged … students”.  Wars fought by “poverty-drafted members of their cohort”.  “Illegal” (authorized by Congress per the Constitution) and “immoral” (yeah, can’t hit back when smacked in the face with a sledge hammer – that’s immoral) and all for oil.

All the leftist canards rolled into one can be found in it – yeah, be ashamed of your country, your military, your patriotism and yourselves you bastards because it makes “David Green, academic professional” uneasy.

How freakin’ ‘60s of the dope.

Tell you what, David Green, academic professional – instead of you telling everyone what they’ve done to offend you, why don’t I tell you what about you offends me.

Your very existence offends me. Your smug but ignorant arrogance offends me.   The fact that you don’t know the difference between grassroots patriotism and “nativism” offends me.  The fact that you have no idea of who makes up our military (although it comes as no surprise, really) offends me.  The fact that you clearly don’t know what the words “illegal” or “immoral” mean, but have no problem throwing them around like you do offends me.

But what offends me most is what you must be doing to the young minds which come under your power while attending your university.  If what you’ve written is any indication of how you teach, then your students or their parents ought to demand an immediate refund.  Because it is not only fact free, but shows absolutely no evidence of critical thinking.

One of the great things about America is everyone is free to express their opinion.  However, doing so is not without consequence, because then those who don’t agree get to express theirs.  My opinion of you, David Green, academic professional, is below that of the Congressional Democratic leadership.  And I provide the bottom side of their 8% popularity rating.

The good news for you is you are precisely where you belong.  Outside the academic ivory tower, facing the reality anyone else does, it’s my guess surviving for 15 minutes would be the high side of an estimate of how long you’d last.

Now, crawl back under your academic rock, where you belong, and hush.

~McQ

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Hell Freezes Over – NYT Fact Checks Obama

I‘ll leave it to you to read the health care fact check. But this was of particular interest to me:

The president continued to take credit for deficit reduction by making a claim that has been challenged by many experts.

“If we had done nothing, if you had the same old budget as opposed to the changes we made,” the deficit over the next 10 years would be $2.2 trillion greater, the president said.

In fact, $1.5 trillion of those “savings” are mainly based on an assumption that the United States would have had as many troops in Iraq in 10 years as it did when Mr. Obama took office. But before leaving office, President George W. Bush signed an agreement with Baghdad mandating the withdrawal of all American forces within three years.

So Mr. Obama is claiming credit for not spending money that, under the policy he inherited from Mr. Bush, would never have been spent in the first place.

For those of you who missed it, even Bush didn’t plan on keeping as many troops as we had then for 10 years. The SOFA agreement and the general withdrawal timetable had been announced before Obama ever took office.

A perfect example of why every “fact” Obama utters needs to be examined carefully (that’s true for every politician, but this one especially), especially now when he’s promising the moon and stars in health care for less cost. Again, read the fact check for some of the points addressing that.

~McQ

Fact Checking Obama

Believe it or not, it was AP which undertook this job. And although superficial, it was interesting to see the agency actually attempt some objectivity. That said, the one that really stands out as almost laugh outloud funny was where Obama did a little chiding of the Republicans:

First of all, I suspect that some of those Republican critics have a short memory, because, as I recall, I’m inheriting a $1.3 trillion deficit, annual deficit, from them.

Well, first of all, only Congress can appropriate money and for the last two years, when that 1.3 trillion was pile up, it was appropriated by a Democratic Congress.

Yes, Paulson rolled them and they ran around like a bunch of chickens with their heads cut off – and that includes Republicans – but trying to lay this deficit solely at the feet of the Republicans is simply laughable.

Laughable point two came when Obama claimed “In this budget, we have made the tough choices necessary to cut our deficit in half by the end of my first term even under the most pessimistic estimates.”

Well, that’s just not true. The “most pessimistic estimates” (in this case the CBO) essentially disagree with his point.

The Congressional Budget Office forecasts that Obama’s spending plan would leave a deficit of $672 billion by the end of 2013. Explaining the differences between his projections and CBO’s, Obama said his administration projects a higher growth rate.

It is also important to understand that “cutting the deficit in half” is a mask for the fact that it means he’ll still be running up a record deficit of over 600 billion a year. That is not progress in deficit reduction or  “fiscally responsible” government. But it sounds good when thrown out there in a sound bite. Here, maybe this will help make the point:

wapoobamabudget1

As you can see, both the most “pessimistic” and his own projections see huge deficits projected well into the future – and, as many economists have said, unsustainable deficits.

So let’s get a few facts straight concerning spending and deficits then and now:

-President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.

-President Bush began a string of expensive financial bailouts. President Obama is accelerating that course.

-President Bush created a Medicare drug entitlement that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new govern ment health care fund.

-President Bush increased federal education spending 58 percent faster than inflation. President Obama would double it.

-President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already in creased this spending by 20 percent.

-President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.

-President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.

Yes, Bush did contribute to an expanded deficit. But Obama’s plans expand it beyond anything Bush did and it continues the spending well into the future. Obama’s budget is the blueprint for a huge and unsustainable expansion of government over the next decade.  What you see going on now is all Obama.

And don’t let him get away with pretending otherwise.

~McQ