Obamateurism of the Day
posted at 8:05 am on June 14, 2011 by Ed Morrissey
You know, I’m usually the first to say that the demand for instant gratification has become an epidemic. People don’t have patience for complex solutions to complex problems. But is it really true, as Barack Obama asserted on Saturday, that 28 months amounts to “overnight” in terms of expectations for recovery?
I wish I could tell you there was a quick fix to our economic problems. But the truth is, we didn’t get into this mess overnight, and we won’t get out of it overnight. It’s going to take time.
CNS News provides the context for this quote:
Since President Obama signed the stimulus law, the Congressional Budget Office has also re-estimated its true cost to be $830 billion.
In fact, according to a Congressional Budget Office analysis published in May, the maximum number of jobs created or saved as a result of the stimulus through the second quarter of this calendar year (which ends in June) will be 2.9 million.
The CBO estimated that it was also possible the jobs created or saved by the stimulus by the end of this quarter might be as few as 1.0 million.
More importantly, according to the CBO, the economic impact of the stimulus is already waning.
“The effects of ARRA on output peaked in the first half of 2010 and have since diminished, CBO estimates,” said CBO. “The effects of ARRA on employment and unemployment are estimated to lag slightly behind the effects on output; CBO estimates that the employment effects began to wane at the end of 2010 and continued to do so in the first quarter of 2011.”
In other words, we’re not talking about “overnight.” We’re talking about two long years in which Obamanomics has suppressed a normal recovery. But look on the bright side; we’ll get a chance to change presidents in less than 17 months, which will hopefully feel more like overnight than the last 28 months.
Got an Obamateurism of the Day? If you see a foul-up by Barack Obama, e-mail it to me at obamaisms@edmorrissey.com with the quote and the link to the Obamateurism. I’ll post the best Obamateurisms on a daily basis, depending on how many I receive. Include a link to your blog, and I’ll give some link love as well. And unlike Slate, I promise to end the feature when Barack Obama leaves office.
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the night is always the darkest, just before the dawn.
ted c on June 14, 2011 at 8:08 AM
Obama is the Charles Atlas of economic turnarounds. “In just seven days I can make you a wreck.”
apostic on June 14, 2011 at 8:08 AM
Does anyone believe ANY jobs were “saved” long term by this porkulus bill? Lots of public union jobs were temporarily saved by shoveling tons of money to the states and local governments, but that funding is over.
Obama was incoherent with this speech.
karenhasfreedom on June 14, 2011 at 8:09 AM
Nice backpedaling on your lofty promises, Jug-ears.
SagebrushPuppet on June 14, 2011 at 8:10 AM
In that time, we had to pass ‘overnight’ solutions—stimulus, had to be done now NOW, I say…! The demagogue has to preach the fierce urgency of now, then switch to the fierce urgency of patience since he has no ACCOMPLISHMENTS (‘cept for capping 3x pirates, 1x UBL) to run on.
ted c on June 14, 2011 at 8:11 AM
Also, Obama is completely ignoring the threats to our total economy by his stranglehold on the energy sector through his various regulations. He has almost single handedly shut down drilling in the gulf, is attempting to make coal mining illegal, trying to shut off natural gas drilling, killed a permit in Alaska after an oil company spent more than a billion developing the lease, etc etc etc.
Then he gives 2 billion to Brazil for their energy development? Does he remember which country he is supposed to be the president of?
karenhasfreedom on June 14, 2011 at 8:11 AM
Obama is incoherent in his administration.
Roy Rogers on June 14, 2011 at 8:12 AM
This reminds me very much of a standing joke among customers of a former employer…
A woman goes to her minister and says, “Reverend, you have to help me! I’ve been married for ten years, and I’m still a virgin.”
The minister responds, “What seems to be the problem?”
The woman says, “Well, my husband is a salesman for IBM, and he just sits on the edge of the bed, telling me how good it’s going to be.”
NeighborhoodCatLady on June 14, 2011 at 8:13 AM
prepare three envelopes
ted c on June 14, 2011 at 8:14 AM
Well, it is kind of like overnight. It’s one big long bad dream.
DaydreamBeliever on June 14, 2011 at 8:15 AM
Recovery will happen. The moment it becomes clear that 0bama and his Insane Clown Posse are not winning another 4 years to screw America over, it will happen. It kindasorta works that way, champ.
Sekhmet on June 14, 2011 at 8:15 AM
Well since the last economist on his staff just vacated the premises you can expect a lot of meaningless chatter on the subject. Besides every statement he makes has expiration date.
JimK on June 14, 2011 at 8:16 AM
Obama has no intention of bringing our capitalism-driven economy back. A healthy economy would thwart his Alinsky-inspired plans.
kingsjester on June 14, 2011 at 8:18 AM
that’s not what he was saying in 2008 that’s for sure…
cmsinaz on June 14, 2011 at 8:18 AM
…That’s my excuse for the longest-lasting economic downturn since the Depression, & I’m sticking to it!
itsnotaboutme on June 14, 2011 at 8:19 AM
When I saw the phrase “28 Months Later”, first thing I thought was “What? ANOTHER crazed flesh eating zombie disaster movie?”
Then I saw we were talking about Obama’s handling of the economy………and then it made more sense.
pilamaye on June 14, 2011 at 8:19 AM
I find myself wishing Obama spends less time at work, and more time playing golf these next 17 months.
Roy Rogers on June 14, 2011 at 8:20 AM
830 Billion to create, at most 2.9 million jobs? Isn’t that about $280,000 for each job? What kind of Brewster’s Millions bullcrap is this?
trubble on June 14, 2011 at 8:20 AM
yeah, one where you wake up with the smell of ether around your mouth and nose and your pants are around your ankles and your butt is hurting.
ted c on June 14, 2011 at 8:21 AM
If we don’t replace him with an effective TRUE Conservative we’ll just get more Numbskull Economics with an “R” beside his or her name.
God help us make it till 1-20-13.
PappyD61 on June 14, 2011 at 8:21 AM
Up next will be the old Carter era spin that the economy is one of those problems that is systemic and intractable due to present-day conditions, and no president can hope to solve the problems, they can only manage them. So why change horses in midstream, especially when the Republican nominee wants to give all the money to their rich buddies, push grandma off a cliff, starve poor people, eat babies and is no doubt is a closet Klansman/Klanswoman.
jon1979 on June 14, 2011 at 8:22 AM
y’know, this potus will help us regain perspective on just how influential one jackwad can be over the economy.
ted c on June 14, 2011 at 8:23 AM
gibbsy on morning joe echoing dear leader’s quote above…
oh brother…
cmsinaz on June 14, 2011 at 8:24 AM
‘Hey, I got an idea. We can spend ourselves into prosperity!’
TimBuk3 on June 14, 2011 at 8:27 AM
gibbsy spinning very poorly on this issue…
cmsinaz on June 14, 2011 at 8:27 AM
He’ll be saying this right up until the election. This is his story and he’s stickin’ to it. BTW, Mr. Prez, this is more than a ‘mess’.
Kissmygrits on June 14, 2011 at 8:27 AM
Seems obvious now that nothing is going to change until we vote this idiot tool out of office. High IQ my rear end, this guy is ego driven and extremely stubborn; both flawed characteristics that go hand-n-hand with stupid people.
Keemo on June 14, 2011 at 8:30 AM
$830,000,000,0000 / 2,900,000 jobs means that each job “saved or created” cost $286,206.90? That can’t be right! Are these Mickey D jobs or government jobs with inflated salaries and skyhigh benefits?
.
How long will these jobs last? Are they full time, permanent jobs or temporary “shovel dirt” jobs? How long before the cost of these jobs can be recovered by the Federalies?
.
Oh, I know, these must be hedge fund jobs…
ExpressoBold on June 14, 2011 at 8:32 AM
http://news.yahoo.com/s/ap/20110614/ap_on_re_us/us_obama_family_1
O is unexpectedly okay with getting his duff thrown out of office.
ted c on June 14, 2011 at 8:34 AM
Maybe we can find a way to get by with this “one term investment”?
Rovin on June 14, 2011 at 8:34 AM
What is Obama doing for flag day? Counting 57 stars???
Roy Rogers on June 14, 2011 at 8:39 AM
speaking of hand in hand, just like Anthony Weiner. Ego driven, stubborn and deeply flawed—’cept just don’t ask him if he’s flawed, he just needs some ‘treatment’ and it’ll all be cool.
ted c on June 14, 2011 at 8:40 AM
Give him a break. He thinks it’s still 2008.
forest on June 14, 2011 at 8:40 AM
Today’s Obama is the coyote date that college kids woke up to after a night of wearing their beers goggles.
csdeven on June 14, 2011 at 8:41 AM
After his presidency is over he is probably going to need a non-extraditable county to live in. In Brazil he can live out his days as a rich oil baron. You didn’t think that money doesn’t have strings attached to it.
Tommy_G on June 14, 2011 at 8:42 AM
But where are my unicorns he promised????
search4truth on June 14, 2011 at 8:49 AM
Yes we did. The night of November 4, 2008.
Stephen Macklin on June 14, 2011 at 8:52 AM
28 months into this train wreck…and can anyone tell me with any authority or facts what really constitutes a job “saved?” The CBO sure as hell can’t.
FDR prolonged the Great Depression by screwing around with socialism…and Obama is doing the same to the tune of trillions of dollars.
All promises. No positive results. And 28 months, you lame Chicago-hustler, is not overnight…it it over two long years, almost three.
coldwarrior on June 14, 2011 at 8:54 AM
So they really have no way of knowing what effect the stimulus had.
chemman on June 14, 2011 at 8:57 AM
Well, in terms of time passing, Obama did get us into this overnight. TARP was bad enough and the previous month before that it was the Democrats that kicked the pins out from under our financial system. We could have recovered from that albeit very slowly. Porkulous did us in overnight. It doesn’t matter how many “financial geniuses” he brings in or leave his employ. We are screwed for many years.
BetseyRoss on June 14, 2011 at 9:05 AM
My estimate is that the stimulus bill cost us millions of jobs.
Count to 10 on June 14, 2011 at 9:06 AM
Where is the laugh track?
http://www.politico.com/politico44/perm/0611/presidencys_toll_6bfcebd2-e892-4ad5-b54d-f766729807a3.html
onlineanalyst on June 14, 2011 at 9:08 AM
And if it is closer to the CBO’s lower estimate (which I believe is more accurate) of 1,000,000 jobs created, the cost per job jumps to $830,000 per job.
Why barack couldn’t have just said, “Income taxes will be cut in half this year, please use this windfall by spending the money to stimulate the economy.” I think he would have saved money, had a great deal more stimulation.
DuctTapeMyBrain on June 14, 2011 at 9:12 AM
What are they going to do when Obamacare kicks in and the out of work people have to buy health insurance or be fined?Is he going to force company’s to hire people?
docflash on June 14, 2011 at 9:15 AM
The unicorns joined a union and then immediately went on strike for a higher stimulus. They are still sweeping piles of unicorn poop out of the Capitol building in Madison.
Yoop on June 14, 2011 at 9:28 AM
At this rate, Greece will have to bail us out.
Dhuka on June 14, 2011 at 9:31 AM
Crock of the Day
Schadenfreude on June 14, 2011 at 9:33 AM
Another straw man laid to rest.
Firstly, who said anybody was expecting “overnight” success?
Secondly, if the fedzilla had started contracting 28 months ago to bring expenditures in line with revenues and avoid a mind-boggling jump in federal debt, the outlook would be much rosier now.
Thirdly, if hundreds of billions of dollars hadn’t been stolen from the people by the likes of Goldman Sachs, then there would be that much more confidence in the financial system.
Fourthly, if there weren’t such startling regulatory and legislative overreach and deliberate suppression of economic activity (such as making it impossible to produce our own energy), the economy would be growing rapidly.
We didn’t want overnight, Mr. President, we wanted practical, realistic action to start 2 years ago. You own this one, and I dare say I’m not the only one who’s plenty upset and mobilizing now for ’12.
mr.blacksheep on June 14, 2011 at 9:33 AM
The crock of the day is endless:
Obama: If You’re Looking For “Partisan Rhetoric, I’m Probably Not Your Guy”
Schadenfreude on June 14, 2011 at 9:39 AM
Upon seeing his failure, the won is trying to rationalize, spin, and lie.
Here’s a whopper from Moochele, via Politico:
These people are either insane or pathological liars.
dogsoldier on June 14, 2011 at 9:42 AM
well, he surely doesn’t take a day on, either.
ted c on June 14, 2011 at 10:00 AM
How do I figure out if O’Booba saved my job?
Akzed on June 14, 2011 at 10:03 AM
Narcissist thugs. Look at their eyes.
Schadenfreude on June 14, 2011 at 10:15 AM
Do you know what they did with that”stimulus money” in my town?? They made artifical brick crosswalks downtown near the courthouse and city hall!!! I have driven over the same pothole near the house for 5 years!!! If they really fixed anything with that money it would be different, but our infrastructure is just as bad if not worse than when they passed that abdomination of a bill! Turtle crossing my A$$.
Mini-14 on June 14, 2011 at 10:35 AM
Here is a fool proof way for Obama to get reelected to a second term. He should announce that he will accept all the Republicans proposals for ‘jump starting’ the economy. He then cooperates with them to enact their economic legislation: i.e. – Lower taxes, reduce business tax rates, reduce bureaucratic interference, eliminate capital gains taxes, etc.
This will result in one of two thing happening:
1. If the economy rebounds, he will get the credit and be easily reelected.
2. If the economy does not recover, he then will be able to blame the Republicans and will be easily reelected.
His only problem in doing this will be his having to go against basic beliefs and temporarily having to withstand the wrath of his far left base. But in Chicago politics, the end justifies the means.
Uniblogger on June 14, 2011 at 10:41 AM
listen for the sound of sprinkling fairy dust and a galloping unicorn when payday comes around…
ted c on June 14, 2011 at 10:44 AM
So who is he, Violent J or Shaggy 2 Dope?
Lanceman on June 14, 2011 at 11:03 AM
Nobody expected miracles, Barry O. Well, wait, maybe your fanatical supporters did. But nobody sensible expected things to turn around overnight. What everybody had a right to expect was at least a sign that things were beginning to improve, some small inkling that we were actually in a recovery, not this-circling-the drain bulls***.
RebeccaH on June 14, 2011 at 11:39 AM
onlineanalyst on June 14, 2011 at 9:08 AM, Thanks for that link!
Being POTUS is hard work, dontcha know. It’s so hard he had to play golf at least 72 times and take numerous family vacations while the rest of America struggles to survive.
Another victim of the economy here in AZ is Marie Callendar Pie restaurants. They all closed down unexpectedly and it’s more jobs lost.
GrannySunni on June 14, 2011 at 11:45 AM
Obama also promised that accounting for the Stimulus expenditures would be posted on the Internet.
I’m still waiting for the accounting….
(And until we see an accounting for every dime of the “Stimulus” AND the bailouts, I will not believe a word of the cr@p which emanates from the White House!)
landlines on June 14, 2011 at 12:35 PM
28 months, at a cost of 830 billion per 1 million jobs.
That is $830,000 shovel-ready per job.
Except for some WH/DC staffers, where are the rest of the created 830k jobs?
Sir Napsalot on June 14, 2011 at 12:58 PM
On the other hand, in tornado alley they say “it’s always darkest just before a big f’n storm kills you.”
slickwillie2001 on June 14, 2011 at 1:20 PM
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Don’t believe the hype… Most of that cash never went to create a job… or even save a job… It went to buy power and pay off for favors… That money was stolen and handed out by the bastard Obama and his puppet masters.
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RalphyBoy on June 15, 2011 at 2:40 AM