As these embarrassing moments often do in government, the first hint came late on a Friday afternoon…

Small house, small car, small job, small pay, small America.

When the movie “Grapes of Wrath” came out, illustrating the pain and economic hardship brought on by the Depression, the film was banned in Russia.
Why? This destitute American family had something that no Russian could dream of. A vehicle. Whilst the unemployment rate was around 20 percent here in the US, the jobless rate in Russia was zero…yet no Russian family could even dream of owning a car. Only party members even had access to automobiles.
If the people of Russia had seen that flick, they would have freaked out and perhaps realized that MARXISM SUCKS! Something our President would do well to recognize, but that ain’ happenin’. He embraces what will destroy us as an economic titan. He believes that we need to be “brought down a peg or two”. He speaks of leveling the playing field when what he really wants to do is lower it…and us.

Obama is a liar and Truth
is killing his agenda. Spread it!

All Praise Me!

We were sinking very quickly, but under my amazing leadership, we’re sinking half as fast. Who could ask for better?

All those people who jumped off on life rafts will be feeling silly very soon. This boat will hardly be sinking at all in another week or two. We can level off after only a few fathoms.

Everything is going according to plan.

anniekc on August 10, 2009 at 9:41 AM

My guess is that the average IQ of Hot Air posters would be nose bleed territory for the “0″

As an economist, Obama makes a passable … lawyer

Jailhouse lawyer that is.

Seriously if you do not think that a 1% drop in GDP is not an improving economy you are a racist….and probably have swastikas in your house.

I agree with your premise however their “savings” or “investment income” could be tax deferred. I don’t think you can infer lack of economic understanding based on this alone.

luckybogey on August 10, 2009 at 10:21 AM

Those are just snippets from the article. I made about 1/8 what the Obamas made in 2004 and generated more savings interest. They have a stunning lack of understanding of how both finance and the economy function. It’s scary.

This is the same mindset that causes liberals to claim that a decrease in the planned increase in spending is a cut.

SKYFOX on August 10, 2009 at 8:15 AM

He also claims that if you refinance your mortgage via the government program he set up, that’s the equivalent of a “tax cut”.

Uh, no… that’s refinancing a mortgage.

Cutting taxes is the equivalent of a tax cut.

BadgerHawk

The Obama family apparently had little or no savings during this period since there was virtually no taxable interest shown on their tax returns.

I agree with your premise however their “savings” or “investment income” could be tax deferred. I don’t think you can infer lack of economic understanding based on this alone.

“As far as I’m concerned, we will not have a true recovery as long as we’re losing jobs, and we won’t rest until every American that is looking for work can find a job.”

Just wait until the Trotskyite “free bread” meme turns into Leninite actions of shooting people in the bread lines.

One way or another, that’s where political logic like this always leads.

I don’t think this is an example of his ignorance of economics. I think he is just patently dishonest.

TXMomof3 on August 10, 2009 at 8:21 AM

I agree, and I add that his malignant narcissism propels his belief that he’s WAY smarter than anyone else in the room. The man makes my blood boil.

As far as I’m concerned, we will not have a true recovery as long as we’re losing jobs

I disagree, Obama getting canned would be the best thing that could happen to the economy.

New name for “Hope and Change” — “Smoke & Mirrors”

DuctTapeMyBrain on August 10, 2009 at 9:05 AM

I think bait & swich is more accurate. Not for those of us who saw the filthy liar for what he was from the beginning but there truly was a moronic portion of the electorate who thought that a Chicago street thug with questionable dealings, a vague Islamic past, and a long history of being a racist….. That this was the ideal person to become a post-racial and post-partisan leader.

on the 19th of August, i’m going out to be Un-American.

kelley in virginia on August 10, 2009 at 8:24 AM

On September 12th, I plan on being the ultimate Un-American. Here is to hoping Obama doesn’t have law enforcement turn the fire hoses on us.

Mere semantics here, when the 2.5 million people currently unemployed run out of unemployment benefits things are going to get very ugly.

doriangrey on August 10, 2009 at 8:57 AM

Doubtful. Congress will just pass an extension to benefits.