Obama Encourages Individual, Government, Wall Street Responsibility

[Etta Place]

Everyone talks about Obama's meeting with Joe the Plumber in Toledo, but Toledo was also the scene of a very comprehensive speech by Obama on the economy.

YouTube - Barack Obama on his Economic Rescue Plan for the Middle Class

I won’t pretend this will be easy or come without cost. We’ll have to set priorities as never before, and stick to them. That means pursuing investments in areas such as energy, education and health care that bear directly on our economic future, while deferring other things we can afford to do without. It means scouring the federal budget, line-by-line, ending programs that we don’t need and making the ones we do work more efficiently and cost less.

It also means promoting a new ethic of responsibility. Part of the reason this crisis occurred is that everyone was living beyond their means – from Wall Street to Washington to even some on Main Street. CEOs got greedy. Politicians spent money they didn’t have. Lenders tricked people into buying home they couldn’t afford and some folks knew they couldn’t afford them and bought them anyway.

We’ve lived through an era of easy money, in which we were allowed and even encouraged to spend without limits; to borrow instead of save.

Now, I know that in an age of declining wages and skyrocketing costs, for many folks this was not a choice but a necessity. People have been forced to turn to credit cards and home equity loans to keep up, just like our government has borrowed from China and other creditors to help pay its bills.

But we now know how dangerous that can be. Once we get past the present emergency, which requires immediate new investments, we have to break that cycle of debt. Our long-term future requires that we do what’s necessary to scale down our deficits, grow wages and encourage personal savings again.

It’s a serious challenge. But we can do it if we act now, and if we act as one nation. We can bring a new era of responsibility and accountability to Wall Street and to Washington. We can put in place common-sense regulations to prevent a crisis like this from ever happening again. We can make investments in the technology and innovation that will restore prosperity and lead to new jobs and a new economy for the 21st century. We can restore a sense of fairness and balance that will give ever American a fair shot at the American dream. And above all, we can restore confidence – confidence in America, confidence in our economy, and confidence in ourselves.

Full Text: Barack Obama Economy Speech | Toledo, Ohio | October 13 : Clips & Comment

[AZXD]

Ahh, I see the other thread was getting to you ... So you decided to start a new one to continue making your case for a socialist who obviously studied Marxism.

Cool!!!

All hail the Third World country of the United States as seen and promoted by Barack Obama.

[AZXD]

Oh look ... It's his how to do it book.



And the thread that discusses it.
Obama's reading list: The Post American World

[Etta Place]

Originally Posted by AZXD

Oh look ... It's his how to do it book.



And the thread that discusses it.
Obama's reading list: The Post American World

Yes, your attempt at diversion already has its own thread.

[DanTheEldest]

The recent John Stossel episode "The Politically-Incorrect Guide to Politics" (aired last night, IIRC--I was tired ) does a more thorough job of refuting darn near everything Barak says in that clipping than I ever could, so I'm not even going to try. Government is good at only one thing: growing more government. Trusting it to try to fix private-sector economic problems is like putting a vampire in charge of a blood bank.

[billbrasky]

responsibility is for everyone, he mentions class to much. Its a smoke screen. How about responsiblity for the poor, and helping everyone, he only wants to change the rich, and help the poor, and by virtue of helping the poor kinda help the middle class. He has a contrived mission to NOT help the rich. He isnt about helping, he is about buying votes. If he had some divine inspiration and it helped everyone, he would ask god .... god is there someway i can do this but not help the rich, they really bother me .... even though i am rich. How about this god, i helpeveryone poor, tell the middle class i am helping them, stick it to the rich, but give myself an exemption on that rich deatail ? deal ?

[Etta Place]

Originally Posted by DanTheEldest

The recent John Stossel episode "The Politically-Incorrect Guide to Politics" (aired last night, IIRC--I was tired ) does a more thorough job of refuting darn near everything Barak says in that clipping than I ever could, so I'm not even going to try. Government is good at only one thing: growing more government. Trusting it to try to fix private-sector economic problems is like putting a vampire in charge of a blood bank.

Is John Stossel an economist?

[AZXD]

Originally Posted by DanTheEldest

The recent John Stossel episode "The Politically-Incorrect Guide to Politics" (aired last night, IIRC--I was tired ) does a more thorough job of refuting darn near everything Barak says in that clipping than I ever could, so I'm not even going to try. Government is good at only one thing: growing more government. Trusting it to try to fix private-sector economic problems is like putting a vampire in charge of a blood bank.

Agreed .... The 20/20 special was very good.
Typical John Stossel

[AZXD]

Originally Posted by Etta Place

Is John Stossel an economist?

Google

[DanTheEldest]

Originally Posted by Etta Place

Is John Stossel an economist?

You have a talent for diversion and setting up straw-man arguments. This isn't hard: get the government out of the way.

But, no, he's not--but as an advocate of libertarian policies and letting the free market work (as well as featuring real, intelligent economists who agree with this point of view), he's a damn sight closer to fixing our problems than Captain Socialist and his Ministry of Pacifying Platitudes.