Las Vegas Sun

October 1, 2014

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Letter to the editor:

Obama’s tenure has been a failure

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The federal government reports that since President Barack Obama took the oath of office in 2009, unemployment has risen from 7.8 percent to 8.3 percent nationwide. The median income has dropped from $55,000 to $51,000, national debt has risen from $10.6 trillion to $16 trillion (34 percent), and gas prices have risen from an average of $1.84 to $3.82 a gallon (110 percent).

The Office of Management and Budget and the Congressional Budget Office statistics report that from President George W. Bush’s last year in office, 2008, until now, the budget deficit has risen from $458 billion to $1.29 trillion. That’s a whopping 283 percent! Statistics don’t lie. If a football coach were to have 3 1/2 years of failure, he would be fired. We need to fire Obama and let a new coach try to do better. It certainly couldn’t be worse.

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  1. To foxlady:

    Amen sister.

    CarmineD

  2. When Ronald Reagan took office in January 1981 unemployment was 7.5 percent. Four years later it was still 7.3 percent. And by the way under Reagan unemployment peaked at 10.8%. Which president had a more challenging set of problems? Obama wins this by a landslide. Statistics don't lie but fibbers will use statistics. Check out the unemployment records of your favorite president at the BLS. You just might discover that modern history shows that Democrats beat Republicans by a wide margin when jobs were at stake. If you have stocks in a 401k or IRA take note that since 1900 the stock market rose by 50% or more under three Democrat presidents, FDR, Clinton and Obama. Only once did this happen under a Republican. Guess who. Think back about 112 years.

  3. Mr. Griffin ignores Bush policies still in effect, which add to the deficit. Did he think Bush left a sqeaky clean Oval Office when he retired to Texas?

  4. Median income drops when unemployment rises. Median incomes dropped during the Bush 43 administration. Not only is the world a more competitive place but higher income Boomers are retiring at a rate of 10,000 every day,3,100,000 each year so median incomes will be lower. Gas and oil prices are set at world market rates, not by American presidents. I'm sure if the Republicans asked Exxon and Shell to give us a price break they would be happy to cut a buck or two off the price of our gasoline. Statistics don't lie but fibbers will use statistics. The Bush 43 wars have cost us over one trillion dollars and his administration was the primary reason why the credit giver of last resort, the federal government under Obama, had to bail out the economy. The Romney/Republican response would have been - "just let it all happen." Really? Maybe they had a point. There's nothing like another Great Depression to shape up those middle class welfare scoundrels. On the subject of statistics "trickle down economics" doesn't work. Bush 43 proved this when he cut taxes below that of what Clinton proved works. Bush 43 and his administration knew going in that this tax cut would cost an additional trillion dollars in lost revenue over ten years and they did it anyway. I'm glad they did otherwise we would not have conclusive evidence that trickle down economics doesn't work. Thanks George!

  5. Oops - Correction. Think back 90 years. Calvin Coolidge - the only Republican president to see the stock market increase by 50% or more during his term. The numbers don't lie 3 Democrat presidents did this and only one Republican and that's why more Americans now trust Democrats more on economics.

  6. Lets bring back the party of trickle down socialism , continual war, environmental degradation, darwinian health care and no count elections- yeah poke me in the eye with a stick too !

  7. Yeah, many countries in Europe are back in recession. Asia's falling off a cliff. Hundreds of factories in China are closing because of the lax demand in Europe. PIMCO puts the odds of another worldwide recession at 100%. Not only is the United States still growing at a modest rate but I believe it's the fastest growing economy in the developed world right now. What you describe is going on every place but at a slower rate here.

    It's an absolute miracle that things aren't much worse here.

  8. If Ken Griffin bothered to check any real facts, it would be clear that Obama has done a great job from what was a disaster. If he wants to use a football coach analogy, Obama inherited a team that had lost every game and had no returning letterman. Building from nothing takes a long time and is done best by sticking with your coach and giving him the time needed to develop a long-term winning program - just as Bill Clinton proved.

  9. 1. Employment/Unemployment is a LAGs both declines and recovery. That means that W Bush could leave office with employment higher than the course of his economy, which was then in free fall, and B Obama could leave office with employment lower than the course of his slowly growing economy will eventually provide.

    2. The national debt has ballooned because we: (1) cut taxes during the W. Bush years and (2) waged war without raising taxes. Our problem is that we deliberately, as a matter of national policy mismatched our revenues with our expenditures -- and we insist on no new taxes, increasing our defense spending, and continuing domestic spending.

    3. We can't isolate Iran, keep it from selling about 5% of the world's production on the world oil markets, threaten it with war when it could shut off the 35% of the world's oil that flows through the straight of Hormuz -- and then whine about high price of oil. But this is ever-longer and ever more Silly Season in America so Obama is to blame for the common cold which Ronald Reagan almost eradicated using "Conservative" principles. (Temporary lack of refining capacity is more to blame for high gasoline prices at the moment).

    4. We could answer the question as to whether we would be better or worse off if we knew what the "new coach's plans for the team were. But he won't tell us. So it is really possible that we could change coaches and be worse off.

  10. "The Bush tax cut plan originally passed by Republicans benefited more lower and middle income wage earners including single mothers and the elderly than the rich."

    This is partially true. But Ref, how do you square this with the current GOP mindset that too few individuals pay income tax?

    By reducing the rate on "lower and middle income wage earners" while keeping, or in some cases INCREASING, deductions, isn't it true that GOP policies actually created and exacerbated this "47%" of Americans who pay no income taxes that Mitt Romney and your party loathe so?

    Romney himself says he wants to lower all tax brackets by 20%. If he keeps existing deductions, even FEWER individuals will pay income tax.

    If you don't like getting kicked in the face, maybe you shouldn't kick yourself in the face.

    Your party has quite the responsibility for creating the 47% that Mitt Romney hates.

    "When Ronald Reagan signed into law the Tax Reform Act of 1986, he boasted, "Millions of the working poor will be dropped from the tax rolls altogether, and families will get a long-overdue break with lower rates and an almost doubled personal exemption."
    "Both the initial Reagan tax cuts of 1981 and indexing income taxes to inflation in 1985 had a similar effect.
    In the 1990s, the Republican-controlled Gingrich Congress passed a $500 per child tax credit that also wiped out the income tax liability of many low- to moderate-income households."
    "George W. Bush expanded the child tax credit as president and also signed into law tax cuts that reduced the bottom marginal income tax rate from 15 percent to 10 percent. Both moves increased the percentage of people not paying income tax."
    http://dailycaller.com/2012/09/17/the-re...

  11. "PRESIDENT OBAMA 48%

    romney 43%

    These are the numbers that count."

    No, Mr. Teamster. Still too early with 49 days left to the real poll that matters on Nov 6 and debates still ahead. There are still many independents who have not made up their mind yet. [BTW, they lean more in numbers towards Romney than Obama. A change from the 2008 election at this time when Indies leaned toward Obama more than McCain]. They will make up their minds between now and the election based on any number of reasons. I believe this percentage makes up the difference in the poll margin for the candidates that you cite and I excerpted.

    CarmineD

  12. The comments here are so laughable and predictable. Should romney get elected we will have a recession bigger than the last within 2 years. And all you righties will be blameing the lefties. The righties have sent us into this ditch, beginning with the rights patron saint RR. Overall romney is an empty suit.

  13. Mr. Freeman's post regarding savings generated by the Bush tax cuts are dead on accurate. The problem is all of these ridiculous tax cuts are at least partially responsible for exploding deficit.

    A little history on gas prices. The only reason gas prices have doubled is because they started off at artificially low levels when Obama took office. Before the Great Recession and several months before Obama took office crude was at $140 a barrel and headed much higher. Gas in some areas was five bucks at the pump. Had the recession not hit would be looking at seven dollars a gallon plus today. Stock prices also doubled. Why? The market collapsed from 14,400 before the recession to an intraday low of 6600 during the economic collapse. The doubling of stock and gas prices is a function of the recession and has nothing to do with Obama.

    Bush had nothing to do with any of this. What we are going through is a function of decades of corruption on Wall Street, easy lending practices that allowed massive real estate speculation and a long-overdue correction in nearly everything.

  14. http://www.reuters.com/article/2008/08/1...
    At some point someone better step up to the plate and start paying taxes. Half the individuals pay no federal income tax. The majority of corporations pay no federal income tax even though they enjoy some of the best profits in history and are sitting on trillions in cash. People want lower lower taxes and at the same time record numbers of people are signing up for welfare. Savings and investment have been so dismal in the United States that record numbers of people can lay their hands and $1000. Half the countries on welfare and no one wants to pay any taxes. That's not a formula that works in the long all.
    http://money.cnn.com/2011/08/10/pf/emerg...

  15. Romney gets 53 percent of the popular vote. Do the math.

    Only poll that counts is 48 days away on Nov 6, 2012. 3 presidential debates and 1 VP debate yet to come.

    CarmineD

  16. Your analogy El Lobo applies more accurately to President Obama and those who support him. The ship of state is going down and we need a new skipper and direction to right her. Romney-Ryan.

    CarmineD

  17. This article is 100% incorrect in that no one can accurately say Obama has failed. He has not. If the republicans had supported Obama's programs to create jobs and more, and the programs then did not work, only then could you say his programs have failed. When you have refused to support his programs to give tham any chance to succeed, then it is you, the republicans, who have failed. You cannot call someone a failure when you never give his programs and ideas a chance to prove otherwise. Obstructionism is, BY FAR, our biggest problem in government.

  18. Allowing the tax cuts to expire means some of the earned income / child dependent refundable credits of taxes you never paid in will end--for some of the people who pay no federal INCOME tax. This means Congress wouldn't have to vote on curtailing endless welfare benefits in the tax code. And it would end or lower the amount of the ILLEGAL refunds fraudulently claimed. And, Congress can then vote new tax cuts to flatten the extreme curve in our tax code.