Unclothing the Latest Obama Lies
Item: President Obama wants you to think he stopped the economy from entering Depressionville.
Background: Democrats ascribe the “lukewarm success” of the President’s $787 Billion stimulus to the fact that it was “way too puny,” but, they say, it saved us from a depression, Hallelujah! And now they’re seeking a much richer round of stimulus for the economy. Notice the weasel word “stimulus” from their mouths is much like the weasel word “investment” Obama unveiled during the State of the Union speech eight days ago . . . let’s substitute the more accurate words “government spending,” OK?
Facts: As we make our midterm assessment of his presidency, we must realize that Mr. Obama’s stimulus like all government spending comes at the cost of jobs in the real (non-government) economy. Government spending and government borrowing and government regulations and other government interference all kill real jobs in the real economy. This is why small government is so vital; government is grossly inefficient at doing any but its legitimate functions.
Item: The president likes to peddle two truly great fictions among the dozens of daily lies they put out. The first is that “Our programs have broken the back of the recession.”
Background: His bureaucracy released a GDP growth rate of 3.4% for the fourth quarter of 2010 using a price deflator that was quite self-serving. The price deflator was 0.3 while the Consumer Price Index rose at 2.6 . . . .
Facts: in layman’s language, what he is calling growth is just higher prices we all face at the pump, at the grocery store and across the board. If Jimmy Carter had used such lies he would have been bragging about the highest growth the nation has ever known (in 1980 inflation and interest rates both stood at 18%).
Item: The other great fiction is the “Car in the Ditch” fable that he’s used for two years to deflect responsibility for the economy onto conservatives and the free market and President Bush.
Background: The Sub-prime lending crisis began in 1977 with Jimmy Carter’s Community Reinvestment Act (CRA ’77). In 1975 only one home loan in 404 was “suspect.” That is roughly 403 of any 404 home mortgages were granted to good risk clients and required virtually always 20% down payment. CRA ’77 forced lenders to knowingly make bad home loans to poor risk clients. After four expansions of CRA ’77 by Bill Clinton (one by regulatory means in 1993; two smaller ones in 1995; and his steroid version in 1998) by 2005 34% of all U.S. home loans were “suspect,” that is, granted at 3% or less (many without any down payment to people without jobs; some without I.D.; without income other than food stamps; many without previous rental history; with terrible credit ratings; and even to illegal aliens). Thanks to the steroid version of CRA ’77 passed by Clinton in 1998, ACORN and other provocateurs (who all used Saul Alinsky tactics for) pushing these unwise loans upon unwilling lenders found it as easy to put bad risk clients into $440,000 homes in 2000 as it had been a decade earlier to put them into $110,000 homes. By the way, working two years as an ACORN attorney, Barack Obama was famous for not only pushing lenders into these bad loans but wheedling “generous” ACORN donations from them as well.
Facts: George W. Bush saw the progressives including Democrats, Bill Clinton, Barack Obama and especially ACORN deliberately pushing the car (the economy) toward a 500-foot ditch and jumped into the front seat grabbing the wheel and slamming on the brakes to guide the car into the nearest friendly-looking ditch.
We’ll back this incredible statement up by reminding the voters that Bush saw the increasing scope of the sub-prime lending problem in January, 2005, and sought to have the worst aspects of CRA ’77 repealed. His efforts were defeated, nay crushed, by the Democrats. Bush spoke to the nation and congress 18 more times on this subject and sought CRA ’77 repeal each time. Finally, 30 months later enough Dems were alarmed that a diluted version of Bush’s original bill was made into law in July, 2007. This proved too little too late, but it did help some, so much so that Treasury Secretary Timothy Geithner credited Bush’s action with limiting the impact of the recession and preventing a truly horrific plunge in housing prices. Only one more word needs to be discussed: the word “deliberately” in the italicized paragraph above. This CRA ’77 damage wasn’t all done because of misconstrued “good intentions” by the altruistic progressives in question but was a deliberate attempt by them to manufacture a crisis they could exploit . . . .
http:// teapartyorg. ning.com/profiles/blogs/rajjpuuts-folly-big-lies-doom
This link to another Rajjpuut’s Folly blog immediately above tells the whole shocking story starting with 1) Cloward and Piven creating their “Cloward-Piven Strategy” in 1968 and later bragging about how they doubled the number of welfare recipients in the country in eight years and bankrupted New York City (just missed bankrupting New York State) requiring a federal bailout in 1975. These are the same married couple Cloward and Piven who often quoted Stalin in their Columbia University (NYC) classrooms “The people who cast the votes decide nothing. The people who count the votes decide everything.” 2) How Cloward and Piven told their followers to shift to voter registration and housing activism 3) How Wade Rathke in Arkansas created ACORN as soon as CRA ’77 became law. 4) How the Arkansas Community Organizations for Reform Now became the nationwide Association of Community Organizations for Reform Now after putting Bill Clinton into the governorship (voter registration fraud helped in the first of his six elections) and doubling the bad home loans in the country from one in 404 to one in 196 just by their work in Arkansas 5) How once ACORN put Clinton into the White House he repaid them with the Motor Voter Act and four expansions of CRA ’77; etc., etc., etc. By the way, here’s a picture of the Motor Voter Act signing ceremony with Richard Cloward and Frances Fox Piven standing directly behind Bill Clinton as he signed into law “a twelve-lane highway for voter fraud.”
http://sipseystreetirregulars.blogspot.com/2010/01/what-they-know-that-we-dont-elections.html
So where does all this leave President Barack Obama? Let us count his most obvious big failures: 1) His stimulus package was a counter-productive disaster*** that made the economy much worse (it jumped from 7.8 to 9.9% unemployment within six months after it went into effect). 2) His financial regulation bill (Dodd-Frank) is choking the life out of the economy that has so harassed small banks that they have stopped loans to small businesses entirely. 3) He appears to be losing Egypt to radical Muslims linked to the infamous Muslim Brotherhood (to learn about their link to 9/11 read Lawrence Wright’s The Looming Towers: Al Qaeda and the Road to 9/11). 4) He and his Fed Chief Ben Bernanke appear to be inflating our money so terribly that there’s a good chance the dollar will cease to be the World’s Reserve Currency and hyper-inflation will result. 5) His god-awful “Affordable Health Care Program” better known as Obamacare (which would have a) bankrupted the individual states because the federal government was shifting virtually all federal side Medicaid funding upon them and b) was destined to become a $2.5 TRillion boondoggle) has now been called entirely UNconstitutional by a federal judge. And 6) he has put us all ninety giant steps closer to Marxist-Socialism in the process. God, what a great president!
Ya’ll live long, strong and ornery,
Rajjpuut
*** actually, we’ve become what Dick Morris called “a nation of inventories.” Businesses are sitting on close to $1 TRillion dollars worth of cash they’re afraid to invest because the business climate is so horrendous. Banks have loads of capital handed out by Ben Bernanke’s fed as they try to “force-feed the economy by printing money” but the economic climate is so prohibitively bad they’re afraid to loan out 98% of it. Consumers now have paid off household debt to the tune of $200 BIllion rather than make any big investments such as homes; real estate; new cars. But real spending is not happening . . . even if the government is spending enough for sixty congresses . . . nobody is really buying anything, as we all wait for the next shoe to drop . . . .
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