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More Obama Stupidity

2010 January 25
by Ian Welsh

Seriously, what part of tax cuts are lousy stimulus and bad policy is bad politics doesn’t this incompetent screwup understand?

President Barack Obama is proposing a tax package aimed at appealing to middle-income Americans, including an increased tax credit for child care and an expansion of tax credits to match retirement savings.

The proposals are intended to fit within the main themes — the economy, jobs and tackling the deficit — the president plans to sound in his State of the Union address on Jan. 27, according to an administration statement.

If at first tax cuts don’t succeed, or the second time, or the tent time, why then, suggest more tax cuts!

One more time, repeat after me. If you pursue bad policy, then you will reap bad results.  The job market will not be improved significantly (if at all) by tax cuts, since every dollar a middle class schmuck gets, someone with pricing power (aka, the banks, healthcare industry, etc…) will take away.

Anything that by some miracle isn’t taken away, will be used to pay down debts or saved, and if a few cents are spent, they’ll be spent on crap from China and will generate no appreciable demand for US goods.

Tax cuts do not make the economy better, they certainly do not create jobs worth mentioning, and no, Virginia, they don’t improve the deficit either.

Schmuck.  He still thinks he’s Reagan for the 21st century.

14 Responses
  1. jo6pac permalink
    January 25, 2010

    Amazing, I guess they’ll work this time because O is doing and not king g or ronnie ray-gunn. I don’t think this going to help us that are unemployed. This will be like the Health Care plan in that will take effect in 2020:( Change we can believe in.

  2. BDBlue permalink
    January 25, 2010

    He is Reagan, building a new conservative movement and helping it come to power. Without Obama and his shitty policies, would we have gotten Scott Brown? Chris Floyd (internal links omitted, I recommend reading the entire thing):

    And what is Barack Obama’s agenda? What is his political program? It breaks down into three main elements: unwinnable wars, unconscionable bailouts, and unworkable, unwanted health care “reform” that forces people to further enrich some of the most despised conglomerates in the land. It is, in every way, a recipe for moral, economic and political disaster. It is a gigantic anchor tied around the neck of the Democratic Party, and it will drag the whole lumbering wreck back to the bottom in short order.

    It also provides a fertile breeding ground for the willful, belligerent ignorance of the Right to thrive. With such an egregiously stupid and destructive agenda at work in the White House, opponents need only say that they are against it, and they are guaranteed a wide following. Who would not be against unwinnable war, unconscionable bailouts and unworkable boondoggles serving rapacious elites? The actual positions held by these opponents – the actual policies they will pursue once in power – are given little scrutiny in such circumstances. The opponent represents change from a hated status quo – and that’s enough. Later, when their odious positions come to light, it is too late.

    Where have we seen this dynamic at work before? Oh yes, it was way back in November 2008. Barack Obama represented change from the hated status quo, from the agenda of the ruling Republican party. And what was that agenda? Why, unwinnable wars, unconscionable bailouts and the assiduous service of rapacious elites. The actual positions held by Obama – the actual policies that he would pursue once in power – were given little scrutiny. Except by a precious few – such as Arthur Silber, who long ago warned that Obama’s election would be ruinous for genuine progressive change, that he would merely put a new gloss on the old corruption while disarming dissent from ‘progressives,’ who would feel bound to support the president against his rightwing enemies – even if it meant “holding their noses” and supporting bad policies like the health care reform bill or the Afghan surge.

    Now it is obvious to all that Obama’s core agenda is the same as Bush’s: maintaining the elitist, militarist, corporatist system in all its essential elements. The “War on Terror” goes on, expanding into new lands. Torture and murder are still countenanced and concealed, in concentration camps and secret sites that are still in operation. All of Bush’s most egregious assertions of authoritarian power are embraced and defended in court. Wall Street is rewarded, not regulated for its vast crimes. The legislative architect and champion of one of the most regressive, punitive, draconian acts of class war in our time – the Bankruptcy Bill, that atom bomb dropped on working people, the sick, the old and the young – has been plucked from deserved obscurity and made Vice President of the United States. A grotesquely expensive, unjust and dysfunctional health care system is not only left intact by “reform,” it is given millions of new, captive customers, and more public money to guarantee its profits.

    Once again, the question arises: Is this a winning agenda?

    Although as always, I guess the real question is winning for whom?

  3. Lori permalink
    January 25, 2010

    Someone needs to say that we backed the wrong horse. We should have backed Clinton. Hillary wouldn’t be perfect but she would be light years better than this. Remember, the DNC took delegates away from her to give to him – delegates that she won.

    It’s the one thing that can be said that they will absolutely hate. And I want them as miserable as my unemployed friends who are losing their homes.

  4. January 25, 2010

    And now this: http://agonist.org/sean_paul_kelley/20100125/just_privatize_everything Further proof the bus is on its way into a ditch. I just don’t have any bandwidth for outrage any longer.

  5. January 25, 2010

    As I keep saying: Obama is not “incompetent” or weak.

    For the banksters: $22 trillion

    For the banksters: No reform at all, big banks bigger

    For health insurance companies: Failure to buy junk insurance becomes a federal crime

    For the military industrial complex: A whole new war

    For Versailles: Consolidating Bush’s authoritarian gains in torture, state secrets, warrantless surveillance, etc.

    Obama has been doing quite well with his agenda. We really do need to surrender the idea that the legacy parties are responsive to the electorate in any way. And I’m very surprised to see you fall for the incompetence meme, Ian. Looked at in the right light, Obama is very competent indeed, as was Bush.

  6. January 25, 2010

    Politico is reporting that Obama will call for a freeze on all non-military dsicretionary spedning.

    Fuck it. It’s all over now. I’m never voting Democrat again.

  7. BDBlue permalink
    January 25, 2010

    He is so much worse than even I thought he’d be and I thought he’d be pretty damned bad.

    I guess Bill Clinton will get to keep the title of best Republican president of my lifetime (as I believe Ian put it). It’s apparently not even going to be close. Damn.

  8. anonymous permalink
    January 25, 2010

    Personally I’m taking a bit of comfort in this kind of news. The doom overtaking the US seems at least more certain now. No more fretting about whether someone can pull us back from the brink of disaster. Obama has decided to take us over the edge, but instead of diving headlong, we’re gonna rapel (sp?) down the side of the cliff to a nice soft landing. If the rope doesn’t break (that’s a big if), we might even have a swift but soft landing.

  9. whiskyrebellion permalink
    January 25, 2010

    we are so fucked, the progressive shot their wad with Obama, now when shit policies fail, the crazy right will be the only ones left to pick up the pieces. Most democrats i know and especailly the ones who are engaged in politics in my college, are still in the sack for obama. there is no hope.

  10. Ian Welsh permalink*
    January 25, 2010

    Not getting reelected is incompetence. And at this rate, he ain’t getting reelected.

    SP – a freeze? hahahahahahaha. Even Republicans are smart enough to know you only talk about doing such things. hahahaha

  11. sporkovat permalink
    January 25, 2010

    first time commenting here . . . I’ve become a regular reader both of Ian Welsh and of Corrente since the summer of health insurance reform and am a great admirer of your trenchant writing.

    great places to hang out as the de-legitimization of the Legacy Parties proceeds!

  12. Formerly T-Bear permalink
    January 26, 2010

    Ian needs do an essay on the economic phenomena of diminishing utility in regard to: 1. value, the basis for graduated progressive taxation on income. 2. leverage, the diminishing ability to obtain desired results from a given input. 3. a review of Thorstein Veblin’s opus (for perspective). 4. a projection of diminishing returns available for governmental effectiveness, the eroding of politico-economic authority from repeated economic failures (bankrupt economic strategy/theory).

    There, I’ve done the easy part ……

  13. Ian Welsh permalink*
    January 26, 2010

    hahaha. If you want to write it T-Bear, I’ll post it. That’s major work, and I currently have clients paying me for writing. (Granted, in one case, for writing I hate doing. But, well, money.)

  14. selise permalink
    January 26, 2010

    spending freeze, privatization, cat food commission. time to review what neoliberalism did to russia in the early ’90s especially since larry summers was involved that time too.

    3 million dead.

    lancet, jan 2009, mass privatisation and the post-communist mortality crisis: a cross-national analysis

    ….

    impeach obama.

Comments are closed.