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Obama's Economic Prowess Now Fair Game

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Fri, 28 Sep 2012|

Even Jay Leno is taking shots at President Obama's inability to deal with our struggling economy. Howie had absolutely no faith that the current administration has any clue about Economics and the ensuing depression.

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Tags:

  1. Joseph Biden1:20, 1:39
  2. George Bush10:25, 10:46
  3. Nancy Pelosi1:22
  4. democratic campaign0:14
  5. Barack Obama10:45
  6. White House1:26, 2:01
  7. Arab Spring5:01
  8. New York Times10:09
  9. Bob Schieffer0:52

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Automatically Generated Transcript (may not be 100% accurate)

This is this is it do you think that this is as good as the economy can get that this is not that nobody's at fault here for for how bad the economy he has because that seems to be the -- That seems to be the new law. Watch war in the democratic campaign and according to some polls. 50% or more the American people believe that Obama is doing a worse than anybody else could be doing and nobody could be doing any better than us. There's a great our editorial in the Wall Street Journal but that's. A listen to rush today I kept waiting for rush to bring up to senatorial he was talking about this about how the you know the Democrats are saying no one could not any better. -- wall street journal editorial today addresses this as good as it gets. Question marks the start with a group with -- A quotes from. A face the nation interview from last weekend. Bob Schieffer the fact is unemployment is up it's higher than when Obama came into office the economy is still on the bumper some people say that is reason enough to make a change. Which Bill Clinton applies. It is if you believe that we -- been fully healed and for years I don't know a single serious economist who believes that with -- -- that is much the images we had could have been healed. In the Wall Street Journal says well let's see we can think of several serious people who said we could heal the economy and for years there's Joseph Biden. Nancy Pelosi Harry Reid Christina Romer and Jared Bernstein also White House economist mark the end the most importantly President Obama himself. Mr. Obama told -- Americans than in in 2009 that if you did not turn the economy around in three years his presidency would be a one term proposition. Joseph Biden said three years ago that the 830 billion dollar economic stimulus was working behind beyond his wildest dreams. To quote wildest dreams. And he famously promised several months after the Obama stimulus was enacted that Americans would enjoy yes summer of recovery. That was more than three years ago. In early 2009 White House economist ms. Romer mr. Bernstein promised congress that the stimulus -- -- unemployment rate below 7% in the Biden -- would be five point 6%. Instead the rate is eight point 1% the latest Census Bureau report says there are nearly seven million if you work full time year round workers today than in 2007. But labor participation rate is lower since 1981. Mr. Obama promised that the deficit would be cut in half in four years but the fiscal 2012 deficit estimated to be about one trillion. Will be twice the 2008 deficit 458. Billion. Mr. Obama said the this health care plan would cut the cost of a typical family's premium by up to 2500 a year. But premiums for employer sponsored health family coverage of gone up 2370. Dollars since 2000. He said the linchpin for growing -- growing economy would be renewable energy investment. And he promised to create five million new jobs in solar wind geothermal energy. Mr. Obama did invest some -- billion dollars in green injure it energy. It is too -- estimate was off by at least a factor of -- and today many solar and wind company firms wind industry firms are fighting bankruptcy. The growth in domestic US energy production team now takes credit for -- almost entirely from fossil fuels. His administration has done so much to obstruct. Mr. Obama's. Chief -- you were say recession idea was and -- trillion dollar leap of faith and to the keynesian multiplier effect of government spending. It was the same approach that didn't work in the 1930s didn't work in the 1970s. Didn't work in 2008. And didn't work and other such nations as Japan it didn't work again in 2009. Ronald Reagan likewise inherited an economy loaded with problems. Reagan used tax cuts this inflationary monetary policy and deregulation to reignite growth. More or less the exact opposite of the Obama policy acts. Liberals tried to explain the Reagan -- boom that they said would never happened by arguing that there was nothing unusual product growth spurt after such a recession. Such a deep recession. So why didn't matter. Happened this time. Think we know he mentioned that question. Mr. Obama is running for reelection trying to convince Americans that an economy leaping limping along at less than 2% growth it's not a on the one point 25% growth. That was horrible enough at one point 7% growth now it's down one point 2%. 8% unemployment. Real incomes down five point 7% since the recovery began -- deficits of more than one trillion is the best we could achieve. We liked it better when -- that. -- change that's the Wall Street Journal. 18774694432218774694322. Summer recovery. All we got was an Arab Spring. You -- borrowing even Leno was taking shots at Obama inability to deal with the economy really in my town you got the cut I'll get a Ferrari and a sack and OK I want to have that cut. How the politicians capitalize in this kind of thing like the minute the replacement -- fired from the bombs that he sometimes losing jobs to be a good thing. Well and this survey out today shows how much time in ways everyday lives for example with seven minutes in line. Every time but it -- 28 minutes get through airport security -- as -- April bombings about the economy every. -- -- little summed up the wall street journal editorial limb about five seconds. 18774694322603. Says wait a minute now US ambassador sodomized before it was collateral was before or after it was scale I try to stay up on big news in this is the first I've heard this -- Yeah it's it's yeah it's out there. It's out there it's I don't think it's I don't think it's you know and an Internet -- an urban legend. It's it's there. Yet no one could turn around an economy in four years they mean like rate bush and Reagan. Yeah now going to turn every all these the best guys these are the best guys -- want but you know the the the mainstream media really is -- and where to get port calls in just a moment but there's there's a lot of stuff to get to today the that the mainstream media is is really disgraceful it's it's the worst it's ever -- You know I've been in the mainstream media most of my life and I've been on the house -- the conservatives. I have worked for our Rupert Murdoch and the Boston hurled when he when he -- that he didn't -- it. The -- -- on you know not a regular on faux battle and contributor fox more than the other networks. -- I've never seen like this I have never seen it this bad and it's not just me that say in this. Pat Cadel -- former pollster for Jimmy Carter it was a was has been talking about this she's been veering right lately enough approval last few years. And the you know. I don't I don't know it's more more people start to say that you know. When the founding fathers. Preempted so much. Freedom for the fourth estate. You know I think -- I think it was Thomas Jefferson who said if given the choice between -- legislature and free press he would pick the free press. Mean when we have. The press as as an arm of government which is what the mainstream media has become largely now when there's democratic president. -- The the balance is upset. The that the the balance of power in the in in the society is upset you know I mean the -- there is there is no the free press now is just a propaganda arm of the the Obama administration. Delegates are Regis and figures later on that from the pew the pew center for research about -- you for one of the mainstream media this is the last or. This is it. You know this is a that this is the that's the there there were there rounding third their heading for the check out our. And it's just amazing you know social media. Even even the Internet. You know that struck a lot of blows to the to the mainstream media but now the social media's is finally. Putting the last nails in the coffin were -- like. Twelve years ago 50% of the population read a daily newspaper now it's down to 23%. 23% and that includes people are wrong line I mean it's just. We you know that don't want to be many newspapers left and I you know I I Obama Obama one of the ones that survives but I don't know. And it's just as bad for the network newscast a region the numbers in a moment but you have the path and -- stop I want to play pat and I'll stop before the break. This is packet out talking about how the how how the mainstream media has gone out early in the satchel for for this -- whether it's on the economy or the the Libyan disaster. Or were or three or you know not reporting what's going on at the casualties in Afghanistan. Everything. Not let let me tell you there's nobody there and no stranger to 200000 dollars in doesn't expect something in return analysts who live in a world that I don't. And you met him when he know what his racists in the mainstream media he was -- George Stephanopoulos. On ABC a couple of weeks ago and they were going through always question no when asked him whatsoever. About that. -- talk about the -- because we cross some lines here -- politics. Wouldn't the if any president of the United States first hole which had nine days of laws. Over what happened because they can't -- to terrorists attack. And the press won't push this yesterday it was not a single piece in the New York Times. Over the question would -- twenty American embassy yesterday are under attack none of that is on the national news. None of it is being pressed in the papers if -- president. Either party I don't care whether it Jimmy Carter Bill Clinton or George Bush for Ronald Reagan. Or George H. W. Bush had had eight terrorist incident. And got on an airplane after report after saying something and blown off to a great fund raiser in Las Vegas baby would have been crude supplies. It would have been it should have been brought them all Barack the equivalent of for Barack Obama all of George Bush is flying over to -- a moment. But nothing was said the -- Nothing Wilkins. It is one thing to bias in news. Or -- biased view. It is another thing to specifically decide that you will not tell the American people information they every right to know. The press's job to stand -- -- and protect the liberty and freedom of all the -- from government and promote and from organized government power. When they deserve that with ramparts. And they go to -- to decide that they will now become an active and participants when they decide. That's their job is not simply -- ball -- tell you you may vote for -- you may not. But worse. And this is the danger of the last two weeks what truth -- you may know as an American what truth you're not allowed to know. They have then made themselves -- fundamental threat to the democracy in in my opinion made themselves the enemy of the American people. It is a threat to the very future of this country if that -- while this optical want -- we crossed the old we crossed a whole new. And frightening slide on the slippery slope this last two weeks it it needs to be talked about. But of course it won't -- 18774694322. Six sultry mainstream media knows Obama will create a bail out of the newspapers if he wins a second term are you bail amount there you know that the the a New Orleans. The New Orleans times Picayune is is is gonna stop printing daily papers this weekend so New Orleans world. Don't we have a three day a week daily a newspaper print and available on the street's biggest city in the country so far -- what do -- on a daily newspaper. Not good not good at all. 18774694322. On how we are.