Not a great ad, I think, but it does try to highlight the economic issues. It’s a Romney ad in which Obama is shown brazenly arguing that his economic policies have worked. But who knows, the worse the economy appears to be, the more people may want to keep the party of handouts in control of the presidency. Anyway, second quarter GDP at an annual rate of 1.5% with worse to come:
White House projects $1.2 trillion deficit, lower economic growth in 2012.
And that’s what the White House is willing to own up to.
You can’t blame Obama for the GFC that’s still devastating world economies. That was caused the economic thug Bush allowing rapacious greed from financiers to dominate the economy at the expense of the poor families trying to put a roof over their families’ heads. This came to a head in 2007 and Obama wasn’t president until January 2009.
hammygar
29 Jul 12 at 1:06 pm
Of course one can’t blame the Kenyan, Kero. However he takes full blame for the lack of recovery and the US economy still on life support.
JC
29 Jul 12 at 1:08 pm
Sure you can. He was a litigant in redlining suits. He wanted banks to lend to uncreditworthy borrowers, in fact, he sued banks when they didn’t.
.
29 Jul 12 at 1:15 pm
Dems did it. FDR supposedly saved USA, but started the rot. When handouts to everyone stop then USA will surge.
stackja
29 Jul 12 at 1:57 pm
Actually that’s not ture, Stack. Both political parties were in on it for different reasons.
However the GOP began warning about the problem from 2005 on.
JC
29 Jul 12 at 2:00 pm
Charles Murray on the image problem of Mitt Romney and capitalism.
The treason and economic illiteracy of the intellectuals.
Rafe
29 Jul 12 at 2:33 pm
I think it’s quite good. You don’t win over people by shouting at them. It invites them to decide for themselves. Most of them will get the point of it and the subtlety will ensure there is no push back.
DavidLeyonhjelm
29 Jul 12 at 4:23 pm
Good. Not only am I an “economic thug”, I’m an out and proud Capitalist.
Way to go, squandermonkeys!
If there is anything on this planet that isn’t ‘sustainable’, it’s f*cking socialism.
Rabz
29 Jul 12 at 5:15 pm
Its an old line but a good one “Socialism works until you run out of other people’s money.”
It looks as though the US Democrats have got the same problem of credibility as our ALP, there must be heaps of Dems with three digit IQs and enough economic literacy to see that the game is up, do they ever speak up and say something helpful?
Rafe
29 Jul 12 at 5:22 pm
You can’t blame Obama for the GFC that’s still devastating world economies. That was caused the economic thug Bush allowing rapacious greed from financiers to dominate the economy at the expense of the poor families trying to put a roof over their families’ heads.
The first TARP happened under Bush. The problem was deepened and broadened by Obama. Both parties share equal culpability for the destruction of the American economy. Your apparent passion for Romney does not make objective sense Cat.
Paul
29 Jul 12 at 5:40 pm
Paul – you are talking utter crap.
It’s true that Obama can’t be blamed for the GFC but Bush is much less culpable than Clinton and the Dem Congress especially the repugnant Bawnee Fwank.
How TARP was spent was nearly all Obama specifically it’s use for GM.
Your entire post demonstrates contemptible ignorance.
JamesK
29 Jul 12 at 6:04 pm
Paul we are opposed to Big Government insanity from both sides of politics. Romney is preferable to Obama in the same way that the Coalition is preferable to the current wreckers of our house.
We know that both sides are prone to insanity but we have not seen the same scale of destruction before to match the Obama and the Rudd/Gillard efforts.
Rafe
29 Jul 12 at 8:23 pm
I have to agree with Paul.
Yes Bush had the sense to say something’s up, but the idea that home ownership was a right was pushed by the left and right.
.
29 Jul 12 at 8:28 pm
I believe Bush warned of the problem that would become the GFC earlier on and had even tried to establish a regulatory regime to reign the two FMs in, but was stymied by congress.
Bush was not perfect, and had far too much an apetite for spending money, but he truly loved his country, tolerated a lot of abuse (the thought of silencing critics seemed as alien to him as it is familiar to Obama) particularly the fevered claims of stupidity and outright calumnies as to his motivations.
Aqualung
29 Jul 12 at 8:34 pm
So Bush is as morally culpable as Clinton, Bawnee Fwank, Chris Dodd and the woeful work of the empowered regulators and the politicisation of GSEs Fannie Mae and Freddie Mac, dot?
Bush’s administration tried to rein them in.
Bush never had control of Congress and was utterly crippled after the 2006 wave election.
I think Bush was fiscally a poor President and ironically he’s hit regularly by the Dems on the legislation that he gave to the Left to try and please them with his prescription-drug plan and no Child Left Behind.
What he did try and do was rein in the excesses of the GSEs and subprime lending.
Bawnee Fwank blocked his efforts.
JamesK
29 Jul 12 at 8:40 pm
I’m really fed up with this bullshit about Bush.
He reduced the deficit from $412 billion in 2004 to $162 billion in 2007, a 60 percent drop. In 2004 the federal budget deficit was $412 billion. In 2005 it dropped to $318 billion. In 2006 the deficit dropped again to $248 billion. And, in 2007 it fell below $200 billion to $162 billion.
Enter the Democrat Congress.
The Democrats’ contribution to fiscal reform:
Watch – and remember…
http://www.youtube.com/watch?v=6mqSXsNJzRM
C.L.
29 Jul 12 at 8:55 pm
Frank and Dodd are just reprehensible.
.
29 Jul 12 at 8:56 pm
C.L. comments – ‘I’m fed up with this bullshit about Bush.’
I wholeheartedly agree. Just like I was sick of a couple of journo ‘hack’ acquaintances of mine in Canberra who used to spruik – George Bush was a moron. Canberra Times journos they were at the time. What does that tell you. Whenever I asked where they got their evidence, seeing as they were only local type hacks, they just shrugged and laughed, had another drink.
delfino
29 Jul 12 at 11:24 pm
Better to use Obama’s words against him as he did say it was unpatriotic for Bush to run up debt.
kelly liddle
29 Jul 12 at 11:30 pm
In response to hammygar. Yeh ok so it wasn’t Bush II fault either he inherited the dot com boom. And go back further I remember JC saying something about the early 90s recession so must have been Bush 1 fault not Clinton. Then Reagan started the run up of debt in a serious way (by the standards at the time) so mustn’t have been Bush I s fault either. It then goes back at least as far as the 60s. How far back do we want to go? Some president should take responsibility and the most sensible one to take responsibility is whoever is the current one.
kelly liddle
30 Jul 12 at 1:03 am
He is a thief though.
http://www.pensitoreview.com/2005/11/05/bush-condemned-property-via-eminent-domain-to-build-rangers-stadium/
Forget it is a lefty site. What G W Bush did in Texas was fucking disgraceful.
.
30 Jul 12 at 7:40 pm