The Republicans’ economic sabotage

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The Republicans’ plan to destroy the Obama presidency – hatched on inauguration day 2009 – is working. New jobs numbers are out – showing the economy only added a dismal 80,000 jobs in June, which wasn’t enough to move the unemployment rate down from 8.2%. The numbers come in well below economists’ expectations and suggest the economic recovery is slowing considerably as the effects of 2009’s stimulus package wear off.

But rather than sign on to more desperately needed stimulus, Republicans would rather watch the economy tank knowing that it improves their election chances in November. On top of that, just like in Europe, we’re starting to see the damaging effects of austerity – as once again the public sector shed jobs in June – adding to the more than 600,000 government workers who’ve been laid off in mostly red states since President Obama took office.

This is economic sabotage – and since it’s leading to millions of Americans suffering, it’s no different than treason.

Thom Hartmann Administrator's picture
Thom Hartmann A...
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AMEN Brother Thom!!!

delete jan in iowa
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Feb. 6, 2011 11:16 am

Next we will learn this Kaballah crap doesn't work.

Phaedrus76's picture
Phaedrus76
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Sep. 14, 2010 7:21 pm

If Obamy wants to pass out another trillion in stimulus money, instead of doling it out to his Wall Street and corporate donors, wouldn't it make more sense to give the poorest 50 million families 20,000? I'd be willing to bet that they would spend that money very quickly. Oh, but wait, if that money actually got into the economy it would be extremely inflationary. Better to give it to his buddies and they can give themselves bonuses and contribute to Obamy's campaign.

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camaroman
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May. 9, 2012 10:30 am

He did not "dole it out to his Wall St and corporate donors." The stimulus, made far less by GOPimp anklebiters, went to states to keep public employees like teachers, firefighters and cops on the payroll among other things. I would say that Obama may have favored workers, teachers, etc. as his "base," but the Wall St. bailouts were Bush and Paulson.

You are so insulting and smarmy in your posts, and your ideas suck so badly that all we can learn is the state of irrationality and insanity that we have to deal with on the Right. While giving lots of people money to spend would stimulate the economy and show real heat, it would be a temporary fix if it did not address the structural issues and neglect. Putting people to work doing things we need that have been neglected during the Reign of Corporate Bushdumb would not be "inflationary." It makes a lot more sense to give poor families the money than let those with more than enough wealth suck up big handouts like Wall St. and the GOPimps would have it. At least the money thrown at the bottom would go back into the economy instead of the Caymans.

drc2
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Apr. 26, 2012 11:15 am

The only thing the republicans are guilty of is trying to foil Obama's plan to ruin this country.Libs may want to ruin this country but a majority of our citizens are against that. And In november the majority will speak up and the reign of Obama will be over. And the conservatives can go about getting this country back on the road to prosperity. You Thommy knockers are just as bad as the ditto heads, follow blindly and complain when your ship doesn't come in. You must make your own wealth , you can't expect it will given to you from somebody elses pocketbook.

whiskeyman's picture
whiskeyman
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Mar. 7, 2012 5:57 pm

Are we going back to the glory years of 2001-2006?

chilidog
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Jul. 31, 2007 3:01 pm
Quote whiskeyman:

The only thing the republicans are guilty of is trying to foil Obama's plan to ruin this country.Libs may want to ruin this country but a majority of our citizens are against that. And In november the majority will speak up and the reign of Obama will be over. And the conservatives can go about getting this country back on the road to prosperity. You Thommy knockers are just as bad as the ditto heads, follow blindly and complain when your ship doesn't come in. You must make your own wealth , you can't expect it will given to you from somebody elses pocketbook.

I don't think the Republicans (the leadership, not the grassroots) aren't cooperating with Obama because they don't want to ruin the country. Both parties have demonstrated that they do. They're just following the lead of the American people because they want to get back into power.

I do agree that the conservative faithful (who want what's best for the country) is as fooled by Limbaugh, Hannity, et al. as the liberal faithful (who want what's best for the country) are fooled by Hartmann et al.. Both play the left/right paradigm for all it's worth.

LysanderSpooner's picture
LysanderSpooner
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Jul. 31, 2007 3:01 pm
Quote Thom Hartmann Administrator:

The Republicans’ plan to destroy the Obama presidency – hatched on inauguration day 2009 – is working. New jobs numbers are out – showing the economy only added a dismal 80,000 jobs in June, which wasn’t enough to move the unemployment rate down from 8.2%. The numbers come in well below economists’ expectations and suggest the economic recovery is slowing considerably as the effects of 2009’s stimulus package wear off.

But rather than sign on to more desperately needed stimulus, Republicans would rather watch the economy tank knowing that it improves their election chances in November. On top of that, just like in Europe, we’re starting to see the damaging effects of austerity – as once again the public sector shed jobs in June – adding to the more than 600,000 government workers who’ve been laid off in mostly red states since President Obama took office.

This is economic sabotage – and since it’s leading to millions of Americans suffering, it’s no different than treason.

This doesn't make any sense. The Republicans claim to believe that stimulus spending will hurt the recovery. They're right but they don't really believe it. They're just saying it because they know it is politically popular. If this is the case, they are helping Obama by not supporting more stimulus.

Incidentally, where does the stimulus money come from?

How does taking money from one group of people and giving it to another group make the country more prosperous?

LysanderSpooner's picture
LysanderSpooner
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Jul. 31, 2007 3:01 pm

It's not "taking money from one group of people and giving it to another group."

Unless you're referring to taxing Californians to build a post office in Mississippi. But I think we all just accept that.

chilidog
Joined:
Jul. 31, 2007 3:01 pm

Great-we have a choice between too small and unfocused a stimulus or repub tax credits which don't create jobs. America loses! Don't spend any stimulus, but let the corporations sit on $2 trillion cash. Look-another solar company went BK! There is no answer to the control the financial sector now has. They were supposed to serve the economy-not control it for their own ends.

DynoDon
Joined:
Jun. 29, 2012 9:24 am
Quote LysanderSpooner:
Quote Thom Hartmann Administrator:

The Republicans’ plan to destroy the Obama presidency – hatched on inauguration day 2009 – is working. New jobs numbers are out – showing the economy only added a dismal 80,000 jobs in June, which wasn’t enough to move the unemployment rate down from 8.2%. The numbers come in well below economists’ expectations and suggest the economic recovery is slowing considerably as the effects of 2009’s stimulus package wear off.

But rather than sign on to more desperately needed stimulus, Republicans would rather watch the economy tank knowing that it improves their election chances in November. On top of that, just like in Europe, we’re starting to see the damaging effects of austerity – as once again the public sector shed jobs in June – adding to the more than 600,000 government workers who’ve been laid off in mostly red states since President Obama took office.

This is economic sabotage – and since it’s leading to millions of Americans suffering, it’s no different than treason.

This doesn't make any sense. The Republicans claim to believe that stimulus spending will hurt the recovery. They're right but they don't really believe it. They're just saying it because they know it is politically popular. If this is the case, they are helping Obama by not supporting more stimulus.

Incidentally, where does the stimulus money come from?

How does taking money from one group of people and giving it to another group make the country more prosperous?

Because one group of people hoards money and the other group of people spends money. The spenders lubricate the economic system. Every dollar saved is an idle dollar while every dollar spent produces both goods and services. I thought all you libertarians were "economic geniuses".

Bush_Wacker's picture
Bush_Wacker
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Jun. 25, 2011 6:53 am

Neither side is trying to destroy the country, they simply have different views on the best course of action. When we make such destructive accusations of intent no one wins....

WorkerBee's picture
WorkerBee
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Apr. 28, 2012 11:22 am
Quote Bush_Wacker:Because one group of people hoards money and the other group of people spends money. The spenders lubricate the economic system. Every dollar saved is an idle dollar while every dollar spent produces both goods and services. I thought all you libertarians were "economic geniuses".

Short of some old timers hiding money in their mattress no one "hoards" money. It is either in banks that loan it out, Tbills that the government spends, or invested in stocks and bonds. Either way it is still in the system.

WorkerBee's picture
WorkerBee
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Apr. 28, 2012 11:22 am
Quote chilidog:

It's not "taking money from one group of people and giving it to another group."

Unless you're referring to taxing Californians to build a post office in Mississippi. But I think we all just accept that.

Are you kidding? That is most of what the government does. Post offices are unfortunately authorized in the Constitution. Do you think the post office should have a monopoly on 1st class mail delivery?

LysanderSpooner's picture
LysanderSpooner
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Jul. 31, 2007 3:01 pm
Quote WorkerBee:

Neither side is trying to destroy the country, they simply have different views on the best course of action. When we make such destructive accusations of intent no one wins....

I respectfully disagree. The grassroots liberals and conservatives don't want to destroy the country, although the policies they support will do just that. The leadership of the Left and Right most definitely wants to destroy the country.

LysanderSpooner's picture
LysanderSpooner
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Jul. 31, 2007 3:01 pm
Quote WorkerBee:
Quote Bush_Wacker:Because one group of people hoards money and the other group of people spends money. The spenders lubricate the economic system. Every dollar saved is an idle dollar while every dollar spent produces both goods and services. I thought all you libertarians were "economic geniuses".

Short of some old timers hiding money in their mattress no one "hoards" money. It is either in banks that loan it out, Tbills that the government spends, or invested in stocks and bonds. Either way it is still in the system.

Actually, in severe recessionary periods, people do in fact hoard money. But, in more normal times, an increase in savings that is not invested simply lowers income, so that savings and investment are equalized.

Dr. Econ's picture
Dr. Econ
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Jul. 31, 2007 3:01 pm
Quote WorkerBee:
Quote Bush_Wacker:Because one group of people hoards money and the other group of people spends money. The spenders lubricate the economic system. Every dollar saved is an idle dollar while every dollar spent produces both goods and services. I thought all you libertarians were "economic geniuses".

Short of some old timers hiding money in their mattress no one "hoards" money. It is either in banks that loan it out, Tbills that the government spends, or invested in stocks and bonds. Either way it is still in the system.

Even if one hoards money, as is their right, it is not economically destructive. Any money withdrawn from the system (increase in demand for money) leads to a decrease in prices (supply and demand) or an increase in purchasing power of the dollar. So there is no worry even if massive hoarding takes place.

LysanderSpooner's picture
LysanderSpooner
Joined:
Jul. 31, 2007 3:01 pm
Quote WorkerBee:

Neither side is trying to destroy the country, they simply have different views on the best course of action. When we make such destructive accusations of intent no one wins....

Actually you can prove that wrong because most of the republicans voting for austerity also voted for the very same increase in spending when a Republican was president. Jan had a whole thread on this. It's disgusting.

Dr. Econ's picture
Dr. Econ
Joined:
Jul. 31, 2007 3:01 pm
Quote LysanderSpooner:
Quote WorkerBee:
Quote Bush_Wacker:Because one group of people hoards money and the other group of people spends money. The spenders lubricate the economic system. Every dollar saved is an idle dollar while every dollar spent produces both goods and services. I thought all you libertarians were "economic geniuses".

Short of some old timers hiding money in their mattress no one "hoards" money. It is either in banks that loan it out, Tbills that the government spends, or invested in stocks and bonds. Either way it is still in the system.

Even if one hoards money, as is their right, it is not economically destructive. Any money withdrawn from the system (increase in demand for money) leads to a decrease in prices (supply and demand) or an increase in purchasing power of the dollar. So there is no worry even if massive hoarding takes place.

should read

Any money withdrawn from the system (increase in demand for money) leads to a decrease in prices (supply and demand) or a decrease in goods and services supplied or an increase in purchasing power of the dollar. Which is called a deflationary cycle, people hoard money out of fear, which creates a lack of demand that drives down prices and lowers the supply of goods, which leads producers to layoff more workers, who suddenly find themself unable to pay for G&S's which leads to less demand, which leads to lower prices AND lowers supply... until we are all packing up the truck and heading off like Okies in 1936 heading for some magical California like realm of plentiful jobs and food.

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Phaedrus76
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The other way we're subsidizing Walmart...

Most of us know how taxpayers subsidize Walmart's low wages with billions of dollars in Medicaid, food stamps, and other financial assistance for workers. But, did you know that we're also subsidizing the retail giant by paying the cost of their environmental destruction.

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