Diary

Interpreting Obama's Press Conference (zzzz.....)

President Obama held another press conference Tuesday evening. He is becoming overexposed, saying the same thing over and over and obfuscating on major issues. Here are excerpts from the news conference, with comments:

 

OBAMA: Now, it’s important to remember that this crisis didn’t happen overnight and it didn’t result from any one action or decision. It took many years and many failures to lead us here. And it will take many months and many different solutions to lead us out. There are no quick fixes, and there are no silver bullets. Comment: Then why are you trying to spend your way out of it? That is a quick fix, and it will not work.

 

OBAMA: The first step we took was to pass a recovery plan to jump-start job creation and put money in people’s pockets. This plan’s already saved the jobs of teachers and police officers. It’s creating construction jobs to rebuild roads and bridges. Comment: Those teachers and police officers lose their jobs because governments are wasting vast sums of money. And the construction jobs are going to be union jobs, costing much more and getting much less done than the common good requires.

 

OBAMA:  Finally, the most critical part of our strategy is to ensure that we do not return to an economic cycle of bubble and bust in this country. We know that an economy built on reckless speculation, inflated home prices, and maxed-out credit cards does not create lasting wealth. Comment: 50 years of maxed-out federal government spending on wasteful programs dreamed up by Democrats is worse than all of this.

 

OBAMA: We invest in the renewable sources of energy that will lead to new jobs, new businesses and less dependence on foreign oil. We invest in our schools and our teachers, so that our children have the skills they need to compete with any workers in the world. Comment: The ethanol bust proves that renewable energy does not work. And did you ever notice that Obama never says he is going to “reform” the corrupt public education system, only that he will “invest” in it, i.e., throw more money at the unions who will give it back to Democrat candidates?

 

OBAMA: And in this budget, we have — we have to make the tough choices necessary to cut our deficit in half by the end of my first term, even under the most pessimistic estimates. Comment: Nonsense. He’s jacking up the deficit enormously. To then cut it in half – which is not even going to happen – still only would make it half as large.

 

OBAMA: At the same time, the rest of us can’t afford to demonize every investor or entrepreneur who seeks to make a profit. Comment: As your Democrat party has done for 100 years…

 

OBAMA: Well, as I said before, if you look at how the FDIC has handled a situation like Indy bank, for example, it actually does these kinds of resolutions effectively when it’s got the tools to do it. Comment: IndyMac Bank failed because Obama acolyte Democrat US senator Charles Schumer publicly released a letter saying IndyMac was in trouble, causing a ‘run’ on deposits. 

 

Journalist Chuck Todd: Some have compared this financial crisis to a war. And in times of war, past presidents have called for some form of sacrifice. Why, given this new era of responsibility that you’re asking for, why haven’t you asked for something specific that the public should be sacrificing to participate in this economic recovery? Comment: This is the leftist media intelligentsia asking a setup question, as if the American people have not sacrificed far too much already in a perpetually rising tax burden.

 

OBAMA: …if you take the steps that we’ve already taken, with respect to housing, with respect to small businesses, if you look at what we’re doing in terms of increasing liquidity in the financial system, that the steps that we’re taking can actually stabilize the economy and get it moving again. Comment: Every free-market growth-oriented economist says that Obama is doing the wrong things. He’s planning to increase taxes on small businesses. Obama keeps making the same talking points.

 

Journalist Jake Tapper:  Right now on Capitol Hill, Senate Democrats are writing a budget. And according to press accounts and their own statements, they’re not including the middle-class tax cut that you include in the stimulus — they’re talking about phasing that out… Comment: Obama gave a tax ‘rebate’ not a ‘tax cut’ and he will phase it out, as predicted, because it was an election ploy. Middle class taxes are going to go up and up under Obama. 

 

OBAMA: When it comes to cap-and-trade, the broader principle is that we’ve got to move to a new energy era, and that means moving away from polluting energy sources towards cleaner energy sources. That is a potential engine for economic growth. Comment: Cap-and-trade is a Rube Goldberg carbon tax system for business that will throttle economic growth and will be passed on to consumers in the form of fewer jobs and higher prices, i.e., a tax.

 

OBAMA: The way it’s (cap-and-trade) structured has to take into account regional differences. It has to protect consumers from huge spikes in electricity prices. Comment: So he is admitting that cap-and-trade is going to cause big problems with energy prices, which conservatives have been saying all along.

 

OBAMA: Point number two. Both under our estimates and under the CBO estimates, both — the most conservative estimates out there, we drive down the deficit over the first five years of our budget. The deficit is cut in half. And folks aren’t disputing that. Comment: Nonsense. Those projections are completely cooked. This is just rhetoric. The deficit will not come down. Many are disputing it.

 

OBAMA: And we will continue to go line-by-line through this budget, and where we find programs that don’t work, we will eliminate them. Comment: He won’t do it. He already is seeking a $3.6 trillion budget with a $1.8 trillion deficit. Where’s the line-by-line scrutiny?

 

OBAMA (talking about violence in Mexico): We are sending millions of dollars in additional equipment to provide more effective surveillance. We are providing hundreds of additional personnel that can help control the border, deal with customs issues. Comment: Yeah, sure, while your politically-correct justice system puts Border Patrol agents in prison (Ramos/Compean) for acting against the drug dealers and liberal ‘sanctuary city’ policies protect illegals at all costs.

 

Ed Henry of CNN: Thank you. Mr. President. You spoke again at the top about your anger about AIG. You’ve been saying that for days now. But why is it that it seems Andrew Cuomo seems to be in New York getting more actual action on it? Comment: Cuomo is the guy who from 1997 to 2001 helped to set up the system under which Fannie Mae bought trillions in mortgage loans from poor people with no income or job. This AIG story is a drop in the bucket in comparison.

 

OBAMA: And so what we’ve said is, look, let’s invest in health information technologies. Let’s invest in preventive care. Let’s invest in mechanisms that look at who’s doing a better job controlling costs while producing good quality outcomes in various states. Comment: Here’s how to fix health care. First restrain the Democrat trial lawyers. Second restrain the Democrat health-care unions. This will cut health costs in half.

 

Reporter question: But on AIG, why did you wait — why did you wait days to come out and express that outrage? Comment: Because Obama had to get his story straight with all the other Democrats who allowed it to happen.

 

OBAMA: We don’t want a situation in which some countries are making extraordinary efforts and other countries aren’t with the hope that somehow the countries that are making those important steps lift everybody up. And so somebody’s got to take leadership. Comment: The relatively capitalist United States has been the one nation leading the world in growth. Socialist Europe is dead in the water. Obama wants to make us more like Europe.

 

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