Liberal Academic Obama advisor retires and admits that she is clueless
Liberal Academic Obama advisor retires and admits that she is clueless
Posted by: Barthélemy Barbancourt
on Sep 02, 2010 
Christina Romer, chairman of President Obama's Council of Economic Advisers, was giving what was billed as her "valedictory" before she returns to teach at Berkeley, and she used the swan song to establish four points, each more unnerving than the last:
She had no idea how bad the economic collapse would be. She still doesn't understand exactly why it was so bad. The response to the collapse was inadequate. And she doesn't have much of an idea about how to fix things.
OK, who here is surprised that a Professor from Berkeley had no fucking clue? Yeah, I didn't think so. She is the poster child for what is wrong with the BO administration. Barry O hired a bunch of liberal academics with no real word experience. Now they all have to admit that the real world has kicked their asses, so it's time to go back to poisoning young minds with ideas that don't work.
This quote shoes how fucking stupid and close minded this bitch really is.
"The only sure-fire ways for policymakers to substantially increase aggregate demand in the short run are for the government to spend more and tax less," she said. But asked about the main Republican proposal, extending George W. Bush's tax cuts for those earning more than $250,000, Romer replied that doing so would be "fiscally irresponsible."
Spoken like a truly over-educated liberal fucktard. Wasting a trillion dollars on boondoggles is just fine, but tax cuts are fiscally irresponsible???
As for options, there are tons of options if you have a clue about how the economy really works.
Here's just one idea. Eliminate that capital gains tax for one year. Raise it 5% the next year and 10% the following year. Leave it at 10%. This would not only encourage investment, it would get people to ramp up projects quickly to try and beat the tax increases.
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written by Nobody , September 02, 2010
No capital gains tax ever. Remove the corp taxes. It is immoral to tax risk and production. Pretty simple to me.
written by Don Roscoe , September 02, 2010
neither did the genius whose monetary policies are in some ways responsible for this mess -- Greenspan.
I know -- its all Dems and Congress.
Facts -- most, if not all economists missed this one.
written by Nobody , September 02, 2010
Wow Don you're right. Greenspan's loose monetary policy didn't help.
But then again, even a stopped clock is right twice a day.
written by Barthélemy Barbancourt , September 02, 2010
Greenspan even once said that Adjustable Rate Mortgages were a good idea. They are only if the property value continues to go up. They are deadly when values stagnate or drop.
Bush also participated in the insane push to have as many Americans as possible own a home. Our country is very bad at admitting some things. Here are a few:
Some people should rent, not own a home.
Some people are better off in trade schools instead of college. Some should enter the work
Many people would rather sit at home and collect unemployment or welfare than work.
People who work hard tend to make more money than those that don't.
Feel free to add your own. We need to admit that only about 60% of the population should be home owners.
written by Nobody , September 02, 2010
I think it's much less that 60%. Could be close to 40%. The trades (pick one) need people and those guys make a good living.
written by Don Roscoe , September 02, 2010
We pay for even the basics - infrastructure, defense?
"No capital gains tax ever. Remove the corp taxes. It is immoral to tax risk and production. Pretty simple to me. "
If you hate personal income rates now, you'd hate em under your plan. Of course, everyone would incorporate and we'd stop taxes all together.
Simple idea.
written by Barthélemy Barbancourt , September 02, 2010
Capital gains taxes just stunt the economy. They do more damage than they produce in revenue.
I am fine with a 10% capital gains tax, anything higher does just too much damage to be justified.
Obama has just proven that Keynesian economics doesn't work. His top advisor is so ignorantly liberal that she can't even conceive of a non-Keynesian growth model. This is why Obama has one of the worst administrations ever.
Plus if you want really stable taxes, why not tax consumption? A flat tax with a consumption tax would take care of everything that the government needs to do.
We need to move strongly away from punitive counter-productive taxes like the 35% corporate tax, the 35% capital gains tax and the absurdly high 39% personal income taxes(which exceeds 50% when everything is factored in). We need to start looking at the tax code as a way to encourage private sector job growth, not as a way to re-distribute wealth and punish success.
written by Don Roscoe , September 02, 2010
In the long term, so your strategy is more cuts?
Let's assume conservatives gain control of Congress, the country is going to give you about the same time it gave Obama - 12-18 months. And when you don't produce results, it will be 2012 and Dems could regain control of Congress and keep the White House. And then we start the entire non-productive cycle all over again.
written by Don Roscoe , September 02, 2010
To have dual passports. If conservatives get control for more than a few years, I am going to park me and my money in a country less dysfunctional and more tolerant.
And will watch America continue it's decline into the dustbin of history. Our continued arrogance is not supported by a failing economy, a government based on ideals that
changes with the whim of the majority and a people too apathetic and lazy to try and fix any of it.
written by tim-The Dyslexic Blogger , September 02, 2010
I have a very easy way to make things work out cut spending then tax cuts work the government is not here to make life easy for someone on the dole.
written by tim-The Dyslexic Blogger , September 02, 2010
only ones to lazy to fix anything are the ones giving the whole thing away.
written by Sequel , September 03, 2010
Cuba might be a good fit.
Much less of that messy diversity of opinion goin on.
written by tim-The Dyslexic Blogger , September 03, 2010
"And will watch America continue it's decline into the dustbin of history. Our continued arrogance is not supported by a failing economy, a government based on ideals that
changes with the whim of the majority and a people too apathetic and lazy to try and fix any of it."
For over 200 years this country has and will continue to lead the rest of the world Don it is only the progresove left that seem to think that how this country is run is wrong and needs drastic chnages the only thing that really needs changing is the idea that someone can sit on there fat ass and live off the rest of us kill the welfare state and get back to the basics of how this country was founded. minus the slavery shit and you will see this country rise up again to the place it held as the leader of the free world. The only question I really have for you left wing give it all away nuts. If this country is so bad why is it the only country in the world that so many people die to get into each year?
written by Badda , September 03, 2010
Folks struggle and risk their lives to leave socialism... to get more socialism? I don't think so.
They come to America to get away from socialism. We have a duty to ourselves and to others to maintain a country free of socialism/Marxism.
written by Kermit , September 03, 2010
Anyone notice how the recent "decline" began in 2007? Right after the Democrats took control of Congress?
