Hit the Road, Barrack

#1
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VolsNSkinsFan

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Niall Ferguson on Why Barack Obama Needs to Go - Newsweek and The Daily Beast

Welcome to Obama’s America: nearly half the population is not represented on a taxable return—almost exactly the same proportion that lives in a household where at least one member receives some type of government benefit. We are becoming the 50–50 nation—half of us paying the taxes, the other half receiving the benefits.

And all this despite a far bigger hike in the federal debt than we were promised. According to the 2010 budget, the debt in public hands was supposed to fall in relation to GDP from 67 percent in 2010 to less than 66 percent this year. If only. By the end of this year, according to the Congressional Budget Office (CBO), it will reach 70 percent of GDP. These figures significantly understate the debt problem, however. The ratio that matters is debt to revenue. That number has leapt upward from 165percent in 2008 to 262 percent this year, according to figures from the International Monetary Fund. Among developed economies, only Ireland and Spain have seen a bigger deterioration.

Not only did the initial fiscal stimulus fade after the sugar rush of 2009, but the president has done absolutely nothing to close the long-term gap between spending and revenue.
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Unethical Commentary, Newsweek Edition - NYTimes.com

There are multiple errors and misrepresentations in Niall Ferguson’s cover story in Newsweek — I guess they don’t do fact-checking — but this is the one that jumped out at me. Ferguson says:

The president pledged that health-care reform would not add a cent to the deficit. But the CBO and the Joint Committee on Taxation now estimate that the insurance-coverage provisions of the ACA will have a net cost of close to $1.2 trillion over the 2012–22 period.

Readers are no doubt meant to interpret this as saying that CBO found that the Act will increase the deficit. But anyone who actually read, or even skimmed, the CBO report (pdf) knows that it found that the ACA would reduce, not increase, the deficit — because the insurance subsidies were fully paid for.

Now, people on the right like to argue that the CBO was wrong. But that’s not the argument Ferguson is making — he is deliberately misleading readers, conveying the impression that the CBO had actually rejected Obama’s claim that health reform is deficit-neutral, when in fact the opposite is true.
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Newsweek Cover Rebuttal: Paul Krugman Is Wrong - The Daily Beast

Krugman suggests that I haven't read the CBO's March 2010 report. Sorry, I have, and here is what it says:
“The provisions related to health insurance coverage—which affect both outlays and revenues—were projected to have a net cost of $1,042 billion over the 2012–2021 period; that amount represents a gross cost to the federal government of $1,390 billion, offset in part by $349 billion in receipts and savings (primarily revenues from penalties and other sources).”

But thanks for trying, Paul. You reminded me of a point I really should have made in my piece: that in pushing though ACA, Obama violated his most famous pledge of all—made on the campaign trail back in 2008—not to raise taxes on the middle class.
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The End for Obama? Discuss amongst yourselves
 
#3
#3
Regarding the article:

A Full Fact-Check of Niall Ferguson's Very Bad Argument Against Obama - Matthew O'Brien - The Atlantic

There are plenty of legitimate reasons to disapprove of the president. Here's the big one: 8.3 percent. That's the current unemployment rate, fully three years on from the official end of the Great Recession. But rather than make this straightforward case against the current administration, Ferguson delves into a fantasy world of incorrect and tendentious facts. He simply gets things wrong, again and again and again.
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#4
#4
Man VNSF, if you could just wake up and realize that the election won't be a landslide for anyone, I could take this **** seriously. You need to realize your guy is at a disadvantage right now. He could rally and win a close one, or he could lose.

Just snap out of it.
 
#7
#7
DinkinFlicka said:
Man VNSF, if you could just wake up and realize that the election won't be a landslide for anyone, I could take this **** seriously. You need to realize your guy is at a disadvantage right now. He could rally and win a close one, or he could lose.

Just snap out of it.
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Romney will win in a landslide, don't fool yourself.

presidential_election_eeg_brainwave_test_obama_vs_romney.jpg
 
#10
#10
VolsNSkinsFan said:
Obama is winning cook county il by 12 points. He won his county by 30 points. Obama is in big trouble
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Yep, huge trouble considering we are in a horrible economy and his signature piece of legislation is quite unpopular.

Yet, he would win if the election were held today. What should that tell you about the GOP?

Romney could still win the election, there is a couple months 'til election day, but it won't for a lack of Romney and the GOP digging themselves a hole.
 
#11
#11
Amazing how quickly the left media folks are rushing to fact check this article. Almost as amazing as it being the cover of Newsweek.
 
#12
#12
I ask this in all seriousness and honesty. What could you have done, or enacted over the last 4 years to make things better than they are today?

Notice I said "Could" not "Would".
 
#13
#13
rjd970 said:
I ask this in all seriousness and honesty. What could you have done, or enacted over the last 4 years to make things better than they are today?

Notice I said "Could" not "Would".
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10% across the board budget cut;
no PPACA;
no GM bailout;
constrained stimulus funds to avoid the money being spent on ideological boondoggles.
 
#19
#19
PKT_VOL said:
Yep, huge trouble considering we are in a horrible economy and his signature piece of legislation is quite unpopular.

Yet, he would win if the election were held today. What should that tell you about the GOP?

Romney could still win the election, there is a couple months 'til election day, but it won't for a lack of Romney and the GOP digging themselves a hole.
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you keep saying that, but the first term incumbent is almost always polling ahead of the presumptive challenger. Carter was ahead of Reagan, HW Bush was ahead of Clinton.

the only poll that matters is the one taken on Election Day
 
#21
#21
BigPapaVol said:
how about massive stimulus in the form of private company job creation credits?
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I know we had a disagreement a long time ago but u post alot of stuff that is on point and ur knowledge brings alot to the board.

The post u just made is spot on. That money could have done so much good and spark plugged our xountry into a great place.
 
#25
#25
He might hang out with Charlie Sheen and do some "Winning". He's not winning anything in November except a one way ticket out of town.
 
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