(Below are excerpts from the January 27 State of the Union address, with my comments.)
Obama: One in 10 Americans still can’t find work. Many businesses have shuttered. Home values have declined. Small towns and rural communities have been hit especially hard. And for those who’d already known poverty, life has become that much harder. Comment: The real number is 1 in 5 who can’t find work, sir. And Democrat environmental policies in rural and small-town America were hurting those areas even before the recession. This is classic urban-based elitism.
Obama: They don’t understand why it seems like bad behavior on Wall Street is rewarded, but hard work on Main Street isn’t, or why Washington has been unable or unwilling to solve any of our problems. Comment: A majority on Wall Street statistically supports Obama. So he should stop this us-versus-them fiction. And Washington cannot solve the problem. Only economic growth can. Obama is clueless.
Obama: They’re tired of the partisanship and the shouting and the pettiness. Comment: Then stop your partisan big-government one-party approach which is not working.
Obama: So we face big and difficult challenges. And what the American people hope — what they deserve — is for all of us, Democrats and Republicans, to work through our differences, to overcome the numbing weight of our politics. Comment: Republicans have been shut out of all negotiation, sir.
Obama: Our most urgent — our most urgent task upon taking office was to shore up the same banks that helped cause this crisis. It was not easy to do. And if there’s one thing that has unified Democrats and Republicans — and everybody in between — it’s that we all hated the bank bailout. I hated it. Comment: The private banks have paid back most of the bailout. It is the government agencies Fannie Mae and Freddie Mac that are bankrupt and never will pay back the bailout. Fannie and Freddie are run lock, stock and barrel by Democrats.
Obama: To recover the rest, I’ve proposed a fee on the biggest banks. Comment: Which will kill any prospects for future stability. Tax, tax, tax… that is his only solution.
Obama: Now, let me repeat: We cut taxes. We cut taxes for 95 percent of working families. We cut taxes for small businesses. Comment: But your reckless spending means that citizens will be paying higher taxes for decades to cover it. You economic plan is a big shell game.
Obama: Talk to the single teacher raising two kids who was told by her principal in the last week of school that, because of the Recovery Act, she wouldn’t be laid off after all. Comment: He has let the cat out of the bag with this one. Stimulus funds were used to pay for unionized public school teacher salaries not for infrastructure or other critical repairs.
Obama: But I realize that, for every success story, there are other stories, of men and women who wake up with the anguish of not knowing where their next paycheck will come from, who send out resumes week after week and hear nothing in response. That is why jobs must be our No. 1 focus in 2010, and that’s why I’m calling for a new jobs bill tonight. Comment: By “new jobs bill” he means another hunk of taxpayer cash. And it will not create sustainable jobs, only temporary ones.
Obama: Now, the true engine of job creation in this country will always be America’s businesses… but government can create the conditions necessary for businesses to expand and hire more workers. Comment: Yes, government can step aside from the economy, not take your path which is more intervention.
Obama: So tonight, I’m proposing that we take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. Comment: Business does not need credit nearly as much as business needs customers. But credit is something that Obama can control. So he emphasizes it.
Obama: I’m also proposing a new small-business tax credit, one that will go to over 1 million small businesses who hire new workers or raise wages. Comment: Yes, a small credit of $3,000. Yet if a business needs to hire a new worker for $30,000 a year, that credit means nothing, sir.
Obama: Tomorrow, I’ll visit Tampa, Florida, where workers will soon break ground on a new high-speed railroad funded by the Recovery Act. Comment: This will be another boondoggle when roads and bridges need repair.
Obama: We should put more Americans to work building clean-energy facilities… Comment: ’Green energy’ is simply inefficient, government-subsidized energy. It does not work. That is why the government must subsidize it.
Obama: We can’t afford another so-called economic “expansion” like the one from last decade, what some call the “lost decade,” where jobs grew more slowly than during any prior expansion, where the income of the average American household declined while the cost of health care and tuition reached record highs, where prosperity was built on a housing bubble and financial speculation. Comment: Blame Bush…
Obama: China’s not waiting to revamp its economy; Germany’s not waiting; India’s not waiting. These nations, they’re not standing still. These nations aren’t playing for second place. Comment: Yes, and guess what? These countries have more capitalist pro-growth tax policies than the United States. Go look it up.
Obama: …and that means building a new generation of safe, clean nuclear power plants in this country. It means making tough decisions about opening new offshore areas for oil and gas development. Comment: This is double talk. He knows that his enviro cronies will block both nuclear and offshore drilling.
Obama: So tonight, we set a new goal: We will double our exports over the next five years, an increase that will support 2 million jobs in America. Comment: That will happen when we have lower tax business rates than our competitors. Otherwise trade will go the other way. And Obama will not lower those tax rates.
Obama: And that’s why we’ll continue to shape a Doha trade agreement that opens global markets and why we will strengthen our trade relations in Asia and with key partners like South Korea, and Panama, and Colombia. Comment: The Democrats in Congress oppose all these treaties.
Obama: And let’s tell another 1 million students that, when they graduate, they will be required to pay only 10 percent of their income on student loans, and all of their debt will be forgiven after 20 years, and forgiven after 10 years if they choose a career in public service, because in the United States of America, no one should go broke because they chose to go to college. Comment: Right, and a 1998 federal study showed that Obama’s ripoff cronies at the universities are overcharging big-time for education. But rather than force them to control their spending, Obama puts the onus on the taxpayer.
Obama: And according to the Congressional Budget Office, the independent organization that both parties have cited as the official scorekeeper for Congress, our approach would bring down the deficit by as much as $1 trillion over the next two decades. Comment: When was the last time a 2,000-page government program brought the deficit down? Answer: Never.
Obama: Starting in 2011, we are prepared to freeze government spending for three years. Spending related to our national security, Medicare, Medicaid and Social Security will not be affected, but all other discretionary government programs will. Comment: This only will affect 17% of the budget and will not even address the biggest problems of all – Social Security and Medicare.
Obama: But understand — understand, if we don’t take meaningful steps to rein in our debt, it could damage our markets, increase the cost of borrowing, and jeopardize our recovery, all of which would have an even worse effect on our job growth and family incomes. Comment: Is that why you are spending like there’s no tomorrow? What a phony this guy is!
Obama: Tonight, I’m calling on Congress to publish all earmark requests on a single Web site before there’s a vote so that the American people can see how their money is being spent. Comment: This is a call for more of the ‘transparency’ that does not exist today after he promised it in his campaign.
Obama: I know that all of us love this country. All of us are committed to its defense. So let’s put aside the schoolyard taunts about who’s tough. Comment: No let’s talk about who is NOT tough. YOU are NOT tough, Mr. President.
Obama: We are filling unacceptable gaps revealed by the failed Christmas attack with better airline security and swifter action on our intelligence. Comment: Yes. After the fact. Like 9/11.
Obama: This year — this year, I will work with Congress and our military to finally repeal the law that denies gay Americans the right to serve the country they love because of who they are. It’s the right thing to do. Comment: Obama will be even more unpopular than he is today with this proposal. This is simply a route for a small group of homosexuals to join the military and disrupt it, which is exactly what they have planned.
Obama: Unfortunately, too many of our citizens have lost faith that our biggest institutions — our corporations, our media, and, yes, our government — But each time a CEO rewards himself for failure or a banker puts the rest of us at risk for his own selfish gain, people’s doubts grow. Comment: Like Democrat Franklin Raines looting Fannie Mae and leaving it dead for the taxpayer to save with hundreds of billions in bailouts.
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