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  • Morning Bell: The Unstimulated Obama Economy

    Newsflash from The New York Times: President Barack Obama’s stimulus did not work. No, the Times doesn’t say that in so many words, but in an op-ed this morning, the paper laments the sputtering economy and the fact that Washington just isn’t doing enough to help the economy grow. The problem, of course, is that Washington has done too much of the wrong things to get the economy moving again.

    The economic news that’s really sticking in the Old Gray Lady’s craw is revised data released last week that shows the economy’s growth stuck at 1.8 percent, slow consumer spending, stagnant wages, higher prices for gas and food, the poor housing market, flagging consumer confidence and a recent Labor Department report showing a higher-than-expected rise in claims for jobless benefits. The Times complains:

    The grim numbers tell an unavoidable truth: The economy is not growing nearly fast enough to dent unemployment. Unfortunately, no one in Washington is pushing policies to promote stronger growth now.

    What the Times forgot to mention, though, is that Washington over the past two years has done a lot—a whole lot—with the biggest ticket item being the Obama-Reid-Pelosi $787 billion stimulus that was designed to “create or save” 3.5 million new jobs by 2011. Despite the extraordinarily high cost, that didn’t happen, and unemployment has increased to 9 percent.

    But don’t tell that to the Obama stimulus apologists, though. In an interview on Fox News Sunday, host Chris Wallace remarked that in light of the dismal economic numbers, the Obama Administration’s policies and near $1 trillion stimulus “isn’t working” and asked Rep. Donna Edwards (D-MD), a member of the Congressional Progressive Caucus to respond. For her, those dots just don’t connect:

    Well, I mean – I don’t know that I agree with that, because, you know, first of all – let me finish here. I mean, first of all, the trillion dollars for stimulus package – actually $786 billion – was absolutely necessary to make sure that this economy didn’t go into a freefall. We also know that we had to make sure that we began to stimulate the kind of growth that we need in this country to invest in the future.

    For the American people, though, that reality is hitting home. Joseph Lupton, an economist at JP Morgan Chase and Company, says, “There are pretty big costs to not really generating a sizeable recovery.” And as The Wall Street Journal reports, those costs are high unemployment, with 5.8 million people out of work for more than six months.

    The House GOP last week issued a proposal to spur job growth, including reducing regulation and taxes and promoting free trade – essentially aimed at making it easier for businesses to grow, thereby growing the economy and reducing unemployment. And, like clockwork, the left went on the attack claiming that it’s nothing more than “old ideas, fancy new clip art,” while the Times described it as “more of the same ‘fixes’ that Republicans always recommend no matter the problem.” Ironically, though, the left is calling for more of their same ideas – “government help” must come to the rescue, the Times says.

    And how do they plan to pay for it? Higher taxes to finance more spending, with “a combined federal and state top tax rate on earnings of 62%.” The government needs to stay home. Brian Riedl explained why government intervention to boost the economy doesn’t work:

    Removing water from one end of a swimming pool and pouring it in the other end will not raise the overall water level. Similarly, taking dollars from one part of the economy and distributing it to another part of the economy will not expand the economy.

    There are no-cost ways to get the economy moving again, such as reforming regulations to reduce unnecessary business costs, reforming the tort system, removing barriers to energy production, reducing taxes on companies’ foreign earnings if they bring their earnings home, and passing pending free trade agreements. And with Congress confronting spiraling debt, they need to get their economic house in order.

    Despite all the “help” President Obama delivered in the first two years of his presidency, the economy is stuck in the mud and can’t get out. It is overburdened by taxes and regulations, and businesses don’t want to move forward into the dark abyss absent some certainty that the government won’t shackle them with more taxes and regulations down the road. America has had enough of that brand of “help.” It’s time for something different.

    Quick Hits:

    Posted in Ongoing Priorities [slideshow_deploy]

    69 Responses to Morning Bell: The Unstimulated Obama Economy

    1. Ken Jarvis - Las Veg says:

      5 – 31 – 11 FROM – Ken Jarvis – LVKen7@Gmail.com

      "The American Medical Association

      supported President Obama’s legislation

      last year because the new law would provide health insurance to the vast majority of the nation’s uninsured, improve competition and choice in insurance, and promote prevention and wellness,"

      Doctor's are the ones that UNDERSTAND – what people NEED,

      and they KNOW people NEED HCare.

      Germany will END Nuke Energy – It is to dangerous.

    2. ElVeda O'Neal says:

      It doesn't take too many brain cells to see this economy problem and where is Congress's brain cells these day's?

    3. Ellis W. Moses says:

      Another example of governments attempt to plan the economy. It does not work!

    4. Stephen Peters, Edge says:

      Obviously the situation you describe regarding the administration's economic policies do not take into account the broad achievements accomplished thus far such as: Regulation of the Financial Sector including banks and investment houses. General Motors, Chrysler. Attempting to rebuild the crumbling infrastructure, attempt to build much needed High Speed Rail Lines. To name just a few!

    5. Jack Thompson Garlan says:

      We have an Anti-American, Citizen of the World, at the helm of the greatest economic system in the world! Does any American trust this fascist in the White House?

      UMM UMM UMM, Barack Hussein Obama II. He says he is not a Muslim, but his actions sound an alarm.

      UMM, UMM, UMM, Barack Hussein Obama II. His vision for America looks much like Animal Farm!

    6. kenny dey florida says:

      If the New York Times ran this story, then that must mean that the end of civilization as we know it has officially arrived. For the Obama-Loving Times to run this, makes this story the equivalent of 'you may wanna put yer helmet on, the nukes will be here in 10 minutes'. I'm really skeered now…

    7. Jeanne Stotler,Woodb says:

      Ken Jarvis, you must have missed the item about the AMA, only 15% of ALL doctors belong to the AMA, the doctors you saw with BHO DO NOT practice medicine, they are not the ones giving hands on care. I am a member of the medical proffession and have talked to many MD's who do give care to both Medicare and Medicaid, without a hesitation they say tey will quit taking patients from either and some say they will give up their practices. You do not know what they must d now as far as paper work and Obama care will make it worse, even for nurses we did not go into the medical field to file papers, we went into it to give care to patients, I'd rather hold the hand of a dying patient then write about it on a paper. This is not about care, it's about the gov't. having control over your life and YES your death.

    8. LibertyAtStake says:

      Last sentence of NYT Op Ed: "There’s a long way to go before the economy will thrive without government help."

      Should Be: "There's nowhere to go until the government stops obstructing the economy's natural ability to thrive."

      “Because the Only Good Progressive is a Failed Progressive”

    9. Ken Jarvis - Las Veg says:

      Medicare is OFF THE TABLE

      the VOTERS have Spoken.

    10. Steven Coy Westminst says:

      We need to take our Country back, voting does not work just look at the latest bunch of back stabbers just elected to take on the Obamanation, falling in lockstep with the Marxists in Washington. Buy guns, rifles and a lot of Ammo we are going to need it to get these sellouts out of Office. Bring lots of rope they have already had their trials just hang all of them and elect people that will uphold our Constitution and our laws.

    11. Richard L. Gordon says:

      You reversed the standard confusion among an editorial, a regular column, and a one-time op ed contribution. The miserable item to which you linked was an editorial expressing the stupidity of the Times editorial board that caused me to stop reading Times editorials decades ago and then two years ago cutting back to the Sunday Times only after a half century of faithful readership. The Times has degenerated into a joke newspaper.

    12. Robert, North Richla says:

      Let's investigate even further. Where did the $787 billion go? If only 20% actually went to new, "shovel-ready" projects – which did not happen – that infrastructure spending would have created over 5 million new jobs wiping out unemployment (source: American Road and Transportation Builders Association). Not to mention that our energy industry could create over 1 million new jobs with ANWR and the Keystone pipeline alone – with the stroke of a pen. The resuscitation of highway construction (or repair) and our energy industry would bring back our housing industry as well as the travel industry – and our entire economy. We know Obama does not care about jobs – and neither does our incompetent, leaderless Congress.

    13. Polina, Madison NJ says:

      @Stephen Peters

      Achievements of this administration??? What a joke! Well, maybe if you call raising unemployment (more like 17% or higher if you stop manipulating the numbers) stagnant economy, loss of freedom, rising food and gas prices- THTA IS ACHIEVEMENTS. And yes, the financial regulations had it's pluses too- all the additional fees financial institutions are forced to pay -YOU are ending paying for it…didn't you see all the costs of services went up. including the annual fees for credit cards, withdrawal fees….

      It does amaze me the extend of lies and distortion of facts liberals are willing to permeate just to make their leader.

      Left worships their Leaders as messianic cult like figures ignoring the Leader's many flaws.

    14. Glynnda White, Orlan says:

      Thank you Heritage

      Your common sense article once again shows intelligent thinking in an insane bubble in our nation's capitol.

      Can we say "MISERY INDEX"

      To Mr Peters comment above I can only say this, the President and his administration gave this money to these organizations and others as payback for helping him get into office. Where is the payback to the taxpayer for financing this nonsense? It is NOT government's job to bail out private business. They are the cause of this whole mess, because they keep sticking their fingers into private business enterprises. The AMA supported Obama's health care plan last year, because they smell MONEY…..


    15. Pragmatic in Texas says:

      Perhaps the GOP suggests the "same old ideas" because, oh I don't know….. THEY WORK?

      And Stephen P: Really?…. You have no problem with the government taking YOUR money to prop up a failing private business? I sure do. I choose not to buy GM products, so why should money that belongs to me go into Obama's cronies' pockets?

      High speed rail should be a decision that begins with the state, NOT the federal government. Do you really believe Montana, the 49th state in population needs a high speed rail? Yet Montanan's federal taxes will go towards subsidizing something they may not want or need. Same goes with the infrastructure. Ours in Texas is just fine. It is up to the STATES to make the decisions as to where to spend money for projects such as these.

    16. Kevin H, college par says:

      For any serious economist to make the argument that the stimulus did not work would be laughable. All one has to do is point to GDP growth before and after stimulus and monthly job numbers before and after the stimulus. Those numbers alone would destroy any argument that the stimulus did not work. However, you can also add the fact that the stock markets have doubled since the stimulus, that household worth has shot up, etc..

      You point to GDP growth of 1.8% and call that bad. At this point 2 years ago, GDP declines 6.8%. Would you rather have '-6.8%' or '+1.8%'.

      Only someoen blinded by biased politics would say the stimulus package (1/3rd of which was made of tax cuts) was a failure. Besides 1/3rd going to tax cuts, another 3rd went to help states and localities fight off some of the largest state fiscal shortfalls we've ever seen.

    17. Byren Stowe, Tooele, says:

      To suggest that left wing tax and spend policy is akin to taking water from one end of a swimming pool and placing it into the other is being overly generous. It doesnt take into account the inherint loses of revenue associated with a tax and spend government. For instance, the pain that comes from the "taking" from the private sector in the first place, not to mention the natural evaporation of funds that goes hand in hand with Government driven policy, The inefficent manner in which funds are handled, red tape, wastefull spending, and a simple lack of caring.

      The private sector in contrast MUST be profitable, not so with inefficent unconcerned government beauacracies.

      The true effect of liberal policy is more akin to "taking" water from one oasis in the desert and dumping it into the dry sands of the desert where it is rapidly absorbed. They attempt to create a second oasis from dry sands, but the end result is quite predictable. Instead of a second oasis, you end up with half af the original oasis and the liability of maintaining another failing one that takes more than it gives. If all that the government "takes" from the private sector were given back to the private sector then the ill effects of a liberal economy would be much easier to manage. But the truth is that is not the case. Instead the revenue that is "taken" from the private sector is wasted on frivolous, even idiotic pork barrel projects, chrony capitolisim and forigen handouts, never again to be seen by the private sector from whence it came.

      For the water to simply be placed back into the "other side of the pool" would be a refreshing improvment.

    18. Mark McGinley, Madis says:

      A reader from Kentucky commented that the regulation of the Financial Sector as being an accomplishment of this administration. But can he explain exactly what these regulations accomplish in the end. I think it was my good Senator from Connecticut who was the sponsor of the bill. The same very senator who was charged with oversight of Fannie Mae and Freddie Mac. How did that work out?

      Another reader from Las Vegas pointed out that the AMA supported Obama Care. Again another misleading fact since hardly any doctors in private practice supported that position. In fact it is very interesting how many doctors are actual members of the AMA … you would think a majority but that is not the case. Membership actually went lower after the AMA backed OBamaCare. Wake up people.

    19. Robert, North Richla says:

      As a follow-up, real infrastructure spending would be best directed towards real population growth. Nine of the top ten states for population growth are in the South and Southwest – and nine of these states are also red (republican) states. Improving the infrastructure of these growing states would also further improve their economic growth. States like Georgia, North Carolina, South Carolina, Texas, Arizona and Utah. Obama does not want to shift any more growth to these states, nor does he want to damage his blue states any further. Which is why we need a Congress to stand up to this imposter.

    20. George Colgrove, VA says:

      Excellent! Just excellent analysis!

      Today we went into debt by another $4 billion!

      Brian Riedl: "Removing water from one end of a swimming pool and pouring it in the other end will not raise the overall water level. Similarly, taking dollars from one part of the economy and distributing it to another part of the economy will not expand the economy."

      There are no-cost ways to get the economy moving again – YES!

      - Reforming regulations to reduce unnecessary business costs – COULD ALSO SAVE FEDERAL DOLLARS IN STAFF REDUCTION OF NEEDLESS REGULATORS!

      - Reforming the tort system – PRIMARY REASON WHY HEALTH CARE COSTS ARE SO HIGH!

      - Removing barriers to energy production – AND USE! BRING BACK THE SIMPLE LIGHT BULB!

      - Reducing taxes on companies’ foreign earnings if they bring their earnings home – HOW ABOUT A WHOLESALE ELIMINATION OF CORPORATE TAX AND REPORTING – ELIMINATE MORE FEDERAL AGENCIES TO BOOT!

      - Passing pending free trade agreements. YES! LOWER PRICES AT THE WATER"S EDGE!

      - Congress NEEDS TO confront THE spiraling debt, they need to get their economic house in order. THIS IS FUNDAMENTAL


      One thing we as a society will need to recognize that once we are successful in cutting $1.6 trillion from the annual federal budget the GDP will fall correspondingly. We are spending on an annual bases 11% of the GDP in federal debt and an additional 8% state and local debt. This means the nearly $14.5 trillion GDP will become $11.7 trillion in a REAL (cash based) GDP. This will be OK and we need to start growing it from that benchmark. At that point our national debt (if we hold firm in not raising the limit) will be 122% of the GDP (DANGEROUS). If we pass Ryan's plan we will most definitely be at over $16 trillion in debt by close of FY12, and therefore will be at 137% of the GDP! We need to cut the federal government TODAY! We are Greece!

    21. Sean haddy, Californ says:

      @Stephen – You read into the lies too lightly, just enough as the administration wants you to see. The truth of the matter is, we are way to involved in industries that need to be self relient, or allowed to fail. I don't believe in the 'too big to fail' mentality, that you might. At the end of the day, any business can fail with poor leadership, bad ideas, and bad product, and this is exactly what GM and Chrysler have been producing for years, stubbornly, not noticing the rise in gas prices, and American's hatred of their design, style and MPG numbers. Should have let them fail.

      Crumbling infrastructure? No were near crumbling compared to foreign countries I've been to. High Speed Rail? What a joke… rail is only good for highly populated areas, and has limited capacity of effect due to it's inability to be truly mobile, and high in cost of infrastructure. This program has leeched billions from taxpayers for a long time now, and has seen no headway, because it truly is open ended spending approval.

      At the end of the day, this Administration (Bush's, Clinton's) has only one sight, it's own goals, not the best for the American people. Until we have a leader who thinks as if he needs to help the American people, and not special interests, our country will continue to decline. We need more jobs, great spending cuts, and a push to relaunch manufacturing of goods, and refining of minerals, all across the country.

    22. Jim Patterson, Dulut says:

      I just saw that unemployment in Japan went UP to 4.7%! Wow, wish we over here could say that, but nooooo, sorry, Obama doesn't like that. He prefers high unemployment so he can have another "crisis" for him to fix. Not that he fixed the other crises yet.

    23. Becky, in GA says:

      High speed rails have been show to be expensive and a heavy financial burden as they are not profitable. Instead they are a money pit. The demand for high speed rail is small. As an opinion piece by Randal O’Toole, published last fall in USA Today says, “The history of transportation shows that we adopt new technologies when they are faster, more convenient, and less expensive than the technologies they replace. High-speed rail is slower than flying, less convenient than driving, and far more expensive than either one. As a result, it will never serve more than a few marginal travelers. Take a lesson from Amtrak. Train services are not successful in this country.

    24. Don Vander Jagt, Gra says:

      In the first place Mr. Jarvis, we have had universal healthcare in the United States for years; no one was denied health care whether or not they had insurance, and that is just the fact, Obama-care did nothing to improve that!!!! Obama-care is not designed to improve or to give health care to anyone that didn't already have it, it is designed to help bring about a slave state.

      In the second place, the stimulus package was not implemented to help the people of the United States. It was a way to pay back contributors to the Democrats and to funnel money into their reelection campaigns, while at the same time help destroy what they hate about America. Democrats and progressives, one and the same would much prefer a slave state for all but the ruling class!!!!!!

      Americans get used to it, we've been had.

    25. Frank, Florida says:

      I agree with what Heritage says about the following: "…reforming regulations to reduce unnecessary business costs, reforming the tort system, removing barriers to energy production, reducing taxes on companies' foreign earnings if they bring their earnings home." As for "free trade agreements", yes but I agree with Trump: we cannot allow a country to use unfair trade tactics against us, such as artificially keeping the value of their currency low (which will cause an unfair imbalance of trade & encourages businesses to move there to build factories).

      But the fundamental reasons for our economy's anemic growth is the huge Federal deficit & Federal borrowing to finance the debt… it lessens the amount of money available to be borrowed by private business to invest in creating new jobs. "Investors Business Daily" recently had an article on this which showed increasing evidence that Keynesian economics for our present financial situation (government needs to borrow more & spend more) won't work & why the big stimulus package didn't deliver as promised. Cutting Federal spending, balancing the budget, & reduction of (or elimination of) business taxes will work. That will free up hundreds of billions of dollars for private business to borrow (or save in lower taxes) to be used to create new jobs. Business taxes are only passed on to the end consumer anyways & this also encourages businesses to move offshore!

      Finally, I would like to say we need to end our debt based monetary system (every dollar in circulation is based on a debt owed to either the Federal Reserve or someone else in the world & who collects interest on that debt). Thus, we need to end our Federal Reserve Note monetary system for something else that is not based on debt… whether that be a debt free new fiat currency (like the "Greenbacks" used during the Civil War) or currency based upon something of intrinsic value (I would opt for a dual gold/silver monetary system in a ratio of 1:16, such as we had before the Civil War).

      Our time to fix these problems is running out fast, and might already be too late!

    26. DHarper, Lubbock, Tx says:

      ObamaCare is one of the main drags on the economy because businesses don't know what level of regulation and taxation they will face when it fully kicks in. Almost everything this administration has done has increased the level of uncertainty and government regulation in the economy. Big government liberals are absolutely blind to the damage their policies wreak.

    27. Dr. Henry D. Sinopol says:

      To stimulate the economy:

      1.Keep Barry O. & Michelle in their subsidized house entertaining gangster rappers and away from any substantive issues

      2. Make additional Botox appointments for Pelosi…keep her away from Washington

      3. Let Harry work on reconditioning the office building to keep the smell of citizens from bothering him

      Remove all regulations on free & open capitalism and watch grow…

    28. Glenn Drennen, Flori says:

      The economy is stuck in the mud, and that is the way that our socialist president and his cronies want it to be. And yes, your are right about making business less costly, as that makes it easier to expand and grow and when businesses grow they need more workers to do the work of that expanded business. Any fifth grader can understand that basic economic principle. The American Medical Association may have supported Obamacare, but doctors did not, because doctors know "what people need". Also, all the foolishness of the regulation of the financial sector helped nothing, as it was government regulations and greedy backroom deals pulled off by politicians that caused the financial crisis (Jimmy Carter, Bill Clinton and the CRA). So, don't think that government has any intention of helping fix a problem that they themselves intended to create. Chrysler, GM, high speed rail are just more failed democrat policies, not accomplishments, and the Obama stimulus package has become nothing more than a slush fund. Billions have still not been spent, even though our fearless leader assured us that the economy would collapse and soon if that stimulus package were not passed immediately.

    29. Mike from Long Islan says:

      The U.S. is doomed to another ten years of the "Japanese syndrome", which is our government shoving money at financial institutions and keeping alive "zombie banks" and keeping the interest rates artificially low while not "strong arming" the banks to lend to home buyers and business. Ronald Reagan had it right. "Government is not the solution. Government is the problem".

    30. Tom says:

      I only have to say that free trade is a problem not a solution, so I agree with everything you say except for the myth of free trade. This country needs a new industrial revolution where factories and businesses are being built here and goods that are sold here are made here, then start removing social entitlements. Just cutting people off without creating jobs us just dumb and that is where my party, the republicans, are in trouble. You can't just dump everyone out in the street and expect them to make it, we all can't afford to work at mcdonalds, that is why there is such an outcry to tax the rich, they are moving manufacturing out of America but are all too willing to sell their wares to Americans. There is no reason why we should rely on any other country for anything, isolate and recover, free trade has not worked and it will not work, the playing field is too unfair. Oh and disband the EPA.

    31. Norm CT says:

      Mr. Peters, You are very right. Your government took over GM and Chrysler thereby saved the unions. Forget about all the vendors that got stiffed. Too bad for everyone who had the stock in their retirement fund and lost everything. Taxpayers got 30% back but the unions came out smelling like roses. Rebuilding our infrastructure (limited to union labor). Now, high speed rail lines (to be built by union workers, operated by union workers and controlled by the government that consistently loses money in every business they stick their fingers into. Without a doubt, there will be serious cost overruns and delays causing the costs to go over budget. Not to worry, hit the taxpayers.

      But, no problem, we’ll just raise taxes till everyone just says the heck with it, If I work hard and make money your president just going to ‘redistribute the wealth’ Why bother, it is cheaper to stay home and live off the government.


    32. Steve Cafaro Fort My says:

      Agreed — the stimulus has not worked. The stimulus packages began by Bush and continued by Obama have been a complete failure for the US economy, but it has worked by developing the economies of foreign countries. Let me explain! In the same year that we had the 787 billion dollar USA stimulus, the Trade Deaprtment recorded an 810 billion dollar trade deficit in goods imported. We exported evey dollar of the stimulus and then some to purchase foreign made goods. Is it any wonder our economy has not reacted? Let's face it —Until Americans begin producing for their own needs, our country will continue to experience slow growth, jobl issues and the continued loss of opportunity for all Americans. Stop NAFTA, GATT and the myriad of unfair trade arrangements before they put a permanent stop to the USA economy.

    33. steven brown says:

      Obama is against growth is this country! Everything he has done has just created more government!

    34. Peter Wormwood says:

      We also know that we had to make sure that we began to stimulate the kind of growth that we need in this country to invest in the future.

    35. William Del Dotto says:

      OBAMA Health Care is not the same as Romany put is Massachusetts. The signed document had only 700 pages, not 2,700 pages.

      The cost of OBAMA Heath Care as Government run program will end up like:

      Medicare, Social Security, Welfare, $800 Stimulus. A drag on the economy, Bankrupt and under estimated.

      In the Presidents own words: "The fixed costs of all Social Benefits are 66% of the Federal Budget "

      We threaten our own Country's defense funding by taking on another super sized Social Program.

      OBAMA has ignored the "War Powers Act" with regard to Lybia

      He has threatened our State rights and safety of our citizens near borders with Mexico.

      He has undermined our tradition of supporting Israel.

      Placed people on his staff and in the court system that are known Socialist.

      His World apology tour was totally disgraceful. America is, and has always been, trying to do the right thing! Sure we have had mistakes and paid reparations to the offended party.

      His decision not to send more troops into Iraq was wrong.

      His delay of 45 days to send more troops into Afghanistan was not helpful

      The Stimulus money went to only UNIONS: Teachers, Police, Firemen, Auto Workers, BIG BANKS, WALL STREET, FANNY MAE, FREDDY MAC, None of which solved our problems, it made those jobs secure for 18 months and now what, give them MORE? Not one person was ever prosecuted for the financial melt down. WHY NOT?

      BARNEY FRANK was yelling to a congressional session on Fredie and Fanny , there is no problem here.

      Barney and his Democratic partners stopped Bush for putting tighter restrictions on them at a time when that would have helped. Same on you Barney!

    36. Peter Wormwood says:

      "We also know that we had to make sure that we began to stimulate the kind of growth that we need in this country to invest in the future."

      What this means to liberals is key to understanding what she is saying. They don't care if an industry is profitable so long as it is the right kind of industy. In their thinking it is the governments responsibility to make it profitable for their chosen faverites by forcing the American people to partisapate through handouts of the peoples money. Free markets just don't work for librals and therefore must be circumvented.

    37. toledofan says:

      Not only has the stimulus not worked, it's placed a large debt burden on us all. It's sad to listen to some who defend this administration, everybody wants jobs brought back to America and they blame the rich for moving the jobs overseas, but, why, don't they every ask if the taxes are too high here or the regulations to stiffling, or if the government is too intrusive. I mean the auto manufacturers have to comply with the the CAFE standards, a myriad of other regulations, and the unions. It just seems to me like there are some, no matter the facts, who still think the problem lies with the Republicans and that the Republicans are the cause for all that ails us.

    38. Disgusted, in Ilinoi says:

      The " something different " as stated in the last paragraph of today's Bell, is to get rid of " the community organizer " and the rest of the democratic ilk that is driving this country to ruin in the 2012 election and allow the new people from the new President on down and have them restore the "government" down in size and limited function as it IS stated in The Constitution.

    39. Lloyd Scallan (New O says:

      No wonder this nation's economical system is in the deplorable condition it is with the like of Stephen Peters's delusional and distorted attempt to cover for Obama and his policies that are destroying our country. Any clear thinking American recognizes that Obama is, and has been, a disaster for this nation.. Nothing on Stephen list has worked. Every item on his list, as well as the entire Obama's stimulus package, was nothing more than a payback scheme to his supporters. Everyone should understand just how low the left will stoop to continue to support Obama's agenda. This is either insanity or treason and it will end our American way of life unless we stop it now.

    40. perfectlyaged Tulsa, says:

      @Stephen Peters….ATTEMPTING to rebuild infrastructure and high speed rails were only empty words and did not help the 9% – 10% unemployment and to curtail the housing bubble which is going into a double recession now.

      Ask the stock holders of the old GM if they were thrown under the bus by the Obama administration!

    41. Neal, Waterville, ME says:

      Isolationism won't work. Like it or not, we are in a global economy. Put up barriers to trade and consumer prices will rocket. If American companies don't take advantage of cheap foreign labor, competing foreign-owned companies will.

      Americans need to get past the privilege that is now gone – the locking up of China's cheap labor in ideological chains. Their (relative) economic freedom means painful readjustment for the USA but it is inevitable.

      Yes, disband the EPA and let the states monitor the environment, but there are good reasons why we should rely on other countries for some things while they rely on us for others.

    42. Jim Patterson, Dulut says:

      Ah, trade restrictions are the answer. so we don't import and then the other countries don't import our goods and it goes round and round. the answer is to have a wage that companies can pay and still make a profit. But for some workers the answer is a 'fair" wage (whatever that is) meaning lots of pay but very little work (see feather bedding, phantom jobs, etc).

    43. Norm LA says:

      Obviously the article is prepared with eyes wide open and not an artificial look. After all the FIN reg has resulted in increased costs to the consumers. Thai's good; isn't it ? GM rebuilding their infrastructure; that is good; right ? And for the other opinion, the AMA supported the ACA because they shook hands with the president and he lied to them too. And Bush tried to leave office with problems presented to him, resolved. The bail out of GM was not intended for a stimulus; it was a corrective measure for bad union activity – employee high benefits during a down turn.. It is difficult to see how those opinions could be taken away from the facts presented in the article. .And what is really predictable is the response by Ms Edwards. Kind of like the very first commenter here; superfluous. and without consequence.

    44. Bobbie says:

      They sure are silly little hypocrites aren't those democrats? Warning! Warning! Funny how the republicans efforts build positive enthusiasm towards a better future with unfortunate but necessary challenges for corrections sake, while democrats know nothing but childish rants, alot of "we can'ts" and dangerous ignorance, of their own mindset with a will of continuance on the democrat path toward a collapse of the country.

      No pay to those who take no accountability! Democrats are worthless to America's true nature but have a well of wealth regarding danger to our livelihoods.

      As records will show as long as republicans don't give in to the incompetence, failures and ignorance of democrat leadership and stay focused on the course of American recovery, we'll make real progress to clean up and rid the dissatisfaction of democrats and regain strength of the American people, lost under the unfair, derelict, discriminative, weak leadership of the democrat party.

      Democrats have spoken and observantly incapable of any ideas but the taking of other peoples money to create demeaning make-work programs in areas people are expected to do for themselves in the freedom of America. Limiting the mind. Brainwashing the masses. Democrat party shows no respect for human dignity, for obvious reasons.

      Stick to the mission, let the American Constitution be your guide! Don't give in to the weak (democrats,) build their strength and stand your ground!

    45. gary sheldon AZ says:

      In "politicks" ( a tick is a bloodsucking insect) in general dots are difficult to connect at times. This weekend we heard the "Commander" in Chief tell U.S. we will never be able to repay the debt owed to those who gave their lives defending this "one nation under GOD". I have an idea that could be considered a good start. Let's restore the Republic to what the founders intended and what so many have pledged lives and fortunes to protect. Let's purpose to rid the government (at all levels) of the bigoted Marxist and socialists that have emerged from the swamp. and promised to remake America in 2008.Let's end unconstitutional and overlapping departments, bereaus, and commissions and hold accountable by seizure of property or funds of those who have plundered the Social Security system and keep those funds out of the hands of these untrustworthy officials who have failed to do what is best for U.S. This present administration is the culmination of the 40+ year pozni scheme perpetrated upon U.S. What a shame. This can be corrected and the Republic will be repaired. In GOD we Trust!

    46. Stop NationalDebt, U says:

      Of course the stimulus hurt the economy. Each $ borrowed by the federal government is a $ an investor didn't invest in the private economy to create sustainable jobs rather than "temporary" stimulus. Unfortunately there is worse on the horizon since the government will keep borrowing.

      There won't be change until the public truly gets how bad US finances are. The public yawns when it hears $trillions in debt thinking "big number, but its a big country". since they have no perspective. We need to rephrase the issue:

      The federal government will need >$1 million per household to pay its IOUs!

      > $116 trillion ="official" debt plus money  short for future social security, medicare, etc

      Even its "official debt" of $14.2 trillion  is $123,754 per household!

      Details at http://StopNationalDebt.com with links to contact congress & complain.

      "POLL REVEALS: Americans Are Still In Deep Denial About The Deficit" http://read.bi/h6QDGR If they realized how bad it is politicians would need to act.

      Be among the first to join the Facebook "event' "Balance the Budget NOW! Stop National Debt!"
      http://www.facebook.com/event.php?eid=22216504780… since if you don't spread the word, who will? We need to spread the word virally to educate non news-junkies. Its online&ongoing.

    47. PATRICIA says:

      This is the type of nonsense that hurts the American's reputation and it's progression…..Extreme nonsense……..Hail to the Cheif………Bravo, President Obama……

    48. Geppetto, NC says:

      It should be obvious by now that the media, those at the helm and the pitchmen in the trenches, have been so successfully indoctrinated with the Liberal mindset that views Capitalism; i.e., entrepreneurship, free markets, competition and profit, as evil that no amount of common sense will be persuasive enough. No, what is required is more of the same, more Government intervention and control, more Government spending of money they've yet to print, more regulation and higher taxes on the rich who will never pay their "fair share" of 110% of the value of everything they own. Do not concentrate on the jobs that have been lost, a 9+% unemployment rate and an anemic GDP unless a Republican is in the White House; concentrate instead on those nebulous jobs created and the "blame Bush" game. That lower taxes and less Government regulation and intervention in the free markets have always resulted in increased economic activity and prosperity must have been just accidental or anomalies unworthy of any serious, intellectual consideration or ancient and no longer relevant history, convinced as they are, despite mountains of evidence to the contrary, that only bigger, more intrusive Government can save us from ourselves. If only Hugo Chavez didn't have that pesky, natural born citizen problem!

    49. David Bess, Carson C says:

      The fereral government is at a complete loss as to what it takes to solve our economic problems. Their ability to tax and regulate are the problem. Every day the private sector is threatened with new cost and regulations by the feds. Understanding that without the efforts and oportunities of the private sector there is no growth or prosperity. The governments can not generate their own funding without a successful and growing private sector.

      As businesses face these new and uncertian cost and regulations they will find ways to avoid them. Automation will replace employees. Off shore production will eliminate the regulatory constraints and down sizing will allow for better control of their businesses.

      The threats from the feds only add to the uncertianty that henders accurate business decissions and thus slow the turn around. Funding is hard to get as the banks live with the same fears as the businesses. They have no idea what new rules and regulations are around the corner and the affects it will have on their ability to supply funding without being penalized and hampered by another reuglation, rule, fee or tax.

      Consumer confidence is what drives our economy and today there is no confidence in the administration's economic plan or lack thereof. The average worker is concerned about his future ability to support his family. Therefore he is not willing to spend unwisely or to put himself into future debt. That day to day existance frame of mind deters economic growth.

      This administration is either incapable or unwilling to make positive decisions that will lead us forward. There agenda is total control by currupt administration that has no love for or faith in America.

    50. Tom Sullivan in FL says:

      The comments from the socialist here are amusing. Sad, but amusing. The problem is that govt spending is 41% of GDP, and regulations are another 20% of GDP, for a total govt take of 61% of GDP. Only a moron would think that is good. In 1900, the figure was maybe 10%. In 1950, it was 30%. Now it's double that.

      The federal govt has grown almost 40% in share of GDP since Clinton, from 18% to the current 25%. State and local govt spending grew to 19% of GDP during the same period, about a 9% increase. Federal govt debt threatens our economy, and state debt is on the verge of bankrupting the big, Democrat states.

      Liberals obviously do not care about the economy or jobs. They care only about their idol, big government. They have no intention of reining in spending, much less have any kind of plan or budget. The vast majority of Americans want to limit govt power and cut spending. Democrats want more spending and more govt power.

    51. Renny, Maryland says:

      No increase in the Debt Limit!!!!!!!!!!!

      No increase in the Debt Limit!!!!!!!!!!!!

      No increase in the Debt Limit!!!!!!!!!!!!!

      No increase in the Debt Limit!!!!!!!!!!!!!!

      or he will run right over you republicans forever, including we the people!!!

    52. Roger S., Mass. says:

      "The economic news that’s really sticking in the Old Gray Lady’s craw is revised data released last week that shows the economy’s growth stuck at 1.8 percent, slow consumer spending, stagnant wages, higher prices for gas and food, the poor housing market, flagging consumer confidence and a recent Labor Department report showing a higher-than-expected rise in claims for jobless benefits. "

      Congratulations! — We just won the "Carter" lottery, Obama style, aka Stagflation!!!!

      The NYT just as well might have asked: "How many "Krugmans" equal one Keynes?! — Don't ask me; I don't know. Neither do they!

      The only thing I'm pretty sure of is that we have gone from a giant "housing bubble" which burst to an even bigger "government bubble". When that bursts (not if) things will really get ugly! — Another reason for "small government": They never learn! Never, ever!

    53. Pingback: Blah, Blah, Blah, Blah, Blah, Blah!… Obama Holds Tightly To Both The Race Card and The Complicit Members of The Press!… He Promised Change, Substituting Excuses Instead!…

    54. Pingback: News about Barack Obama issue #1 | | Pucketts ProjectsPucketts Projects

    55. Blair Franconia, NH says:

      In the immortal words of James Carville, "It's the economy stupid."

    56. AD says:

      "…reforming regulations…"

      But, but, Cass tells us of all the regs that he has lifted from the neck of the economy; such as not considering spilt milk as an oil spill – that's going to save/create millions of jobs!

    57. Perkoda says:

      The analogy of taking water from one side of the pool and pouring into the other end NOT raising the level of water misses the part where some of the water is spill into the politician's pockets.

    58. Harry Snyder Tempera says:

      It's really funny; I didn't like FDR very well, but I didn't realize the Great Depression

      lasted much longer than previous "panics" or depressions.

      Billions were poured into welfare programs of all kinds. The WPA built useful roads and needed Post offices and schools, but didn't bring down the unemployment numbers significantly. A recession inside the Depression occurred in 1937 and '38. My farmer grandparents were hurt badly by rock bottom prices for their eggs and cream.

      Only the impending war and defense spending (my step-mother worked in an Army uniform shop and we could get a refrigerator) carried the U.S. out of the Depression. And the draft took millions of unemployed men out of the labor


      It is almost sure that if FDR had just left the country to work itself out of the Great Depression good times would have returned much sooner.

    59. Harry Snyder Tempera says:

      P.S. The damaging policies of BHO are not inadvertent. He intended to "transform" the nation into a basket case, China becomes the sole superpower and the U.S. becomes another Cuba: Big shots at the top live well and ordinary people live from hand to mouth. And who knows what the aggressive Islamists will do with a prostrate USA……

    60. Polina, Madison NJ says:


      I hope that "Hail to the Cheif………Bravo, President Obama"

      was a sarcastic HAIL!

      Otherwise I feel sorry for your ability to think and see….

      We still have a freedom of speech (limited though) and exercise out first amendment to voice our concern for deliberate destruction of our country and utter disrespect to the document of the land!

      I don't really give a flying…. about what other country think of us ( guess they shouldn't think very highly judging by WHO we elected to the WH!!) .

      Further more I know that HE became a Joke on so many occasions unable to comport to proper etiquette and social graces.Having said that_ My only concern is survivability of my country first and foremost…I am sure many of the readers feel the same way….

    61. Clearhead, U.S.S.O. says:

      Mr. Jarvis, I intend to read the comments for tomorrow's Morning Bell. Would you please just for once stick to the subject at hand instead of your usual wild meanderings? Thank you.

    62. perfectlyaged Tulsa, says:

      In the immortal words of James Carville, "We are dying down here."

    63. Pingback: Empowering You » News about Fiat Currency issue #1

    64. 2dokie says:

      Diversity, is our primary problem. We have too many diverse objectives, some of which have extremely negative effects on the nation, and involve greed and falsehood. Until we eliminate some of these diverse objectives we won't make the progress that is so very critical to our survival.

    65. ale, usa says:

      I could of told them it would not work. all that tax money spent for nothing. duh.

    66. Danae453, Austin, TX says:

      1. Hello! Why not look at what the real problems are? We are giving way too much money for no work…way too much money to the rich bankers who screwed AMERICANS….Why? Because the squeakiest wheels get what they want! Americans, get loud and get squeaky!

      2. Now…just so you folks who live elsewhere besides TX: Our lege just went into special session because they can't get their c**p together and do work. They did decide that "42" is the state game of TX…and all other such important issues; however, when it comes to the education bill, balancing a budget, etc… NOPE. And now great governor good hair wants to add re-districting to the agenda for the special session.

      Understand that many state employees are being laid off because the state is "broke" – ????? but we have monies for special session? Please! Teachers losing their jobs because we don't have money for education. The rich get richer….especially in Texas Politics at its best….so why does everyone want to move to Texas? I have no idea…. I was born and raised here – not Austin – (Thank God!) – but in a small Central Texas town…. I am moving out of this place as soon as I can afford to sell my house and not give it away……. and yes, Austin is a great place to visit…I guess. I just don't want to live here.

    67. cynthia jones says:

      Not only has the action of this administration gotten us exactly no where at tremendous taxpayer expense, by picking winners and losers according to who must follow what regulations with most favored status aka too big to fail, they have essentially made it possible for larger corporations to squeese out smaller businesses. They have created a perfect atmosphere for megacompanies who will have no competition and who escape the monopoly laws by diversifing their products.. With inflation licking at the heals of smaller businesses, it takes more to run them as their costs skyrocket. They cannot spread these costs over large amounts of output, do not get waivers, and cannot pass enough of their hugely rising costs on to inflation strapped customers who are facing the same downward spiral. Depending on how deep their pockets are , they choke and die.Your choice as a small business owner is to cut jobs because we have already cut to bare bones operating costs then the next step is to close your doors. As this happens the middle class dwindles then chokes and dies too.

    68. Pingback: Obama Economy – Why Are We Here and What Do His Policies Portend for 2012? [Reader Post] | Flopping Aces

    69. Robert William Pszyk says:

      I am sending this correspondence in hopes that someone will read it and STOP sending me any and all of your emails mailed correspondence and so forth. I live in Miami, Florida, which is no longer in the United States. So please stop sending correspondence to the 2950 SW 1st street address and to the bobpszyk@hotmail.com email address as well. I am tired of hearing anything that has anything to do with this so called republic. So please shower someone else with your pipe dreams of saving a republic that is on it's way to becoming nothing more than a footnote in history. Okay, thanks!

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