Mama Bin Cranky

Screaming on the Inside

Posts Tagged ‘Recession’

Obama Talks About Jobs

Posted by madjillmom on June 9, 2012

PresBO is trying to walk back his “the private sector is doing fine”comment during his press briefing yesterday.  The decision to have a mini-presser yesterday is pretty weird. The only thing he could have said to explain the mini-presser was that he is in favor of an independent prosecutor to find the leaks in his White House.  But he didn’t do that.

So yesterday afternoon, he told us that he knows the private sector isn’t doing well.  He then told us he talks about jobs.  He talks about jobs on Friday, the day before, the week before, the month before, and the past year.  He talks.  He doesn’t do.

I guess he was talking about jobs when he met with 24 young stars last week in secret.  If he spent the same amount of time working with the congress as he does doing fundraisers with the George Clooney, Sarah Jessica Parker, and others, there might be something that could be done.  Of course, the jobs situation is bad because of Obama policies and a mountain of yet to be written rules in Dodd/Frank and Obamacare.  No one is going to crawl out on a limb with new hires if Obama and his Dems are behind them with saws.  Yes, there are headwinds.   China is in slowdown.  Europe is in recession and counties are bankrupt.  A stong America could help the world weather this storm.  Too bad Obama doesn’t know what it takes to make the American economy strong.  Maybe things will get better is he talks a little bit more.

I propose that Harry Reid, John Boehner, Nancy Pelosi, and Mitch McConnell all install themselves on Air Force 1 so they can have some real time with the campaigning PresBO.  They can wait on the tarmac while PresBO collects checks from the 1%.


Posted in 2012 Presidential Campaign, Pres. Barack Obama, The Economy | Tagged: , , , , , , , , , , , | Leave a Comment »

Obama’s Promise to Cut the Deficit and Stimulus II

Posted by madjillmom on April 29, 2009

The contraction of the economy at a rate of over 6% makes Obama’s promise to cut the deficit through the use of rosy scenario growth numbers go from ridiculous to impossible. 

Since the stimulus was billed as the government filling in the big contraction hole with our grandchildren’s money, look for calls for another stimulus package due to more contraction.  It only makes sense if you go by what Obama said had to be done.  I guess the next batch will come from my great grandchildren. 

I can see it now. 

“Look at this picture of your great grandmother.  She got a $400 tax reduction and it cost me $120,000.  Hope she did something good with that $400.”

Posted in Obama Administration, Pres. Barack Obama, The Economy | Tagged: , | Leave a Comment »

Nationalized Health Care and Recessions

Posted by madjillmom on March 27, 2009

Pres. Obama has carved a huge amount out of his 2010 Budget for reforming health care with a goal of a nationalized single payer system not far down the line. He continues to say that the economy cannot be fixed without addressing health care, energy, and education. Many dispute this claim. Many independents are concerned that spending these huge amounts of money on new programs will bankrupt the country.

There are many countries that have government run health care. It hasn’t kept them from going into recession. Canada, the UK, and France all have the type of health care Obama wants to “give” us. Don’t count on seeing your doctor in a timely manner. Don’t count on new innovations that might help you with whatever is plaguing you. Count on it being rationed. Count on the fact that reforming health care won’t keep us from recessions in the present or in the future.

Posted in Health Care, Obama Administration | Tagged: | Leave a Comment »

Asking for Help from Citi

Posted by madjillmom on March 8, 2009

One of my relatives spent part of last week talking with Citi about changing the terms of their car loan due to less income coming into their household.  Citi asked for much more paperwork than it took to get the original loan.  Ok, I can go along with that.  My relative should need to actually prove the downturn in their income.  The problem came with the service persons assertion that my relative needed a fax machine to work with Citi on this issue.  The only way Citi can send the paperwork is for the lendee to have a fax and or fax line.  It seems to me that the price of a fax and dedicated fax line would be an unnecessary monthly expense and initial outlay at a time when they are struggling to make the bills. 

The cheapest plain paper fax I could find is about $65.  My relative would have to take her car and drive 1 1/2 hrs round trip to buy the fax.  Another phone line would be about $20 a month.  I don’t really think using the only land line into your house works well for a fax machine.  The other option is to use your dialup modem software for a fax.  I haven’t done that in years, but we don’t have dail up.

Posted in Pet Peeves, Strange Things | Tagged: , , | Leave a Comment »

Easy Bank Fix

Posted by madjillmom on March 1, 2009

Jeffrey Carter at Pajamas Media has this post on fixing the banks.  I have heard repeated calls for the repeal of Mark to Market since early last summer.  The other two items seem reasonable to try.  Now my question is why haven’t they been tried?  Which constituency benefits from this crisis?  The only benefit is to those who want much bigger government.  Using this crisis to implement lots of “change”. 

These ideas don’t transfer taxpayer money to the balance sheets of banks.  It doesn’t sound like accounting gimmicks.  What don’t I know about this whole process?  Yesterday, I read somewhere about private individuals trying to buy good performing loan bundles for 14 cents on the dollar.  The bad loan bundles/assets aren’t worthless.

Posted in The Economy | Tagged: , , , | Leave a Comment »

Reducing Income

Posted by madjillmom on February 28, 2009

The Corner is posting quite a bit on reducing your income in this time of government expansion under Pres. Obama. These posts generally involve a change in priorities. People don’t want to work harder to pay someone else’s mortgage. One of our friends expressed a plan to lower their income Thursday night. Combine this phenomenon with overly rosie scenarios for budget projections and my own desire to not work too hard to get my taxes correct, and the deficit will grow and revenues will dive.

Perhaps I should reconsider my desire to rejoin the work force with a part-time job. How much would I realize? Would I be better off putting my efforts toward reducing our expenses? Cook more, use coupons, look for really great deals, grow a garden, stock the larder, buy ammunition, build the bunker we joked about for Y2K? It’s so easy to cross over to the extreme side in this time, isn’t it?

Posted in Make Yourself Heard, The Economy | Tagged: | Leave a Comment »

In the Midst of Crisis, Pres. Obama meets with George Clooney

Posted by madjillmom on February 25, 2009

We don’t have the details of TARP 2, the “Save the American Automobile” Committee hasn’t given us anything, the Omnibus Pork bill is looming in the near future, there is no HHS secretary designate, the economy is in a inherited tailspin, and the Pres. complained on Tuesday that he has enough on his plate without the economic concerns. Somehow Pres. Obama did find some time to meet with George Clooney on Monday. That is just great. I know I feel better now. Everything will soon be just fine. Apparently they talked about Darfur. I wonder if Sec. of State Hillary was in the meeting?

Isn’t Obama a big enough star to not be impressed with stars? Guess not.

Posted in Obama Administration, Pet Peeves, The Economy | Tagged: , , , | Leave a Comment »

Is Pres. Obama Ignoring the Market?

Posted by madjillmom on February 23, 2009

Other than the administrations’ minor comment regarding the nationalization of banks, Pres. Obama seems to be ignoring the market at this point in time. Almost daily, he comes out and tells us how transparent the Stimulus package will and should be, how we should live within our means, and how he will hold mayors and governors to account if they waste their stimulus money. But there has been no direct acknowledgement of the markets fall since the stimulus bill was signed. Something tells me if the market was falling like this under a republican, the country would be accusing the President of “fiddling while Rome burned”. Even Bill Clinton said something about how he should appear to be more optimistic. Does Pres. Obama doubt his ability to talk the market up? Or does he want things to get worse? If that is the case, what does he have planned? Pay as you Go doesn’t really reassure the market at this point. Neither does increasing taxes the rich and the corporations.

Shouldn’t the greatest orator of our times address the market’s fall to make us all feel better?

Posted in Obama Administration, Obama's Stimulus Bill, The Economy | Tagged: , , , | Leave a Comment »

Biggest Reduction in Excess Since the Great Depression

Posted by madjillmom on February 18, 2009

I just read Victor David Hanson’s post entitled “Depresssion, Recession, Downturn – Whatever”. If you have a few minutes, read it.  It is very good.  Definitely unsettling.  Most of us are making adjustments to our lifestyles, cutting some here and there.  My husband has a job.  He just survived a large layoff that took out 5 of the 7 in his group.  That is scary.  My sister’s husband is looking at being laid off every third week or so.  At that rate, it will take a long time to deplete his unemployment benefits.  But still, this is even scarier.

Pres. Obama likes to tell us we are in the worst economy since the Great Depression.  I think not.  Not even statistically.  He is now telling us his plan for foreclosure relief.  Somehow, I am pretty sure I am going to feel like a chump after he finishes.  I played by the rules, we pay our bills. 

6 million in danger of foreclosure – that isn’t that many.  What are the stats on who is in foreclosure?  Is it minorities, speculators, the investment bankers?  Much of this just has to work itself out.  Many places with high foreclosure rates were at the top of the bubble.  If you can make your payment and are underwater, you won’t be able to move in the forseeable future.  You will have to stay there until the market goes up enough for you to get out without writing a check.  This is what happened in Houston in the big oil bust.  It will work itself out.  Today, housing starts came in low.  Isn’t that good for taking down the inventory of houses for sale?

Pres. Obama is at a High School in Phoenix and there is loud cheering from the crowd.  It is like all of his campaign appearances.  Is the audience all in foreclosure?  Probably.

Posted in History According to Me, Obama Administration, The Economy | Tagged: , | Leave a Comment »

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