Santelli: We are now Europe

posted at 3:14 pm on January 30, 2013 by Ed Morrissey

Via Mediaite, consider this the antidote to all of the liberal apologetics on why it’s just dandy that we went into negative numbers.  The Democratic Party is now calling this GDP report the “best-looking contraction in US GDP you’ll ever see,” and no, that’s not meant to be ironic.  While it’s important not to overreact to the contraction, a contraction is still bad news … at least for most Americans.

CNBC’s Rick Santelli scolds those blaming cutbacks in government spending as the reason for the poor report, and says the real issue is that we’re adopting a European model for government interventions and spending:

“When you act like Europe, you get growth rates like Europe,” Santelli said. “Our discussions with economists sound like we’re in Europe. They’re always doing the right thing. They’re always thinking they know better, and this the kind of growth.”

“We have become Europe,” Santelli declared. “We are now Europe.”

He was challenged when his co-host noted that federal spending decreased dramatically in the fourth quarter. “Why do we need to reduce spending?” Santelli asked hypothetically. “Because we run trillion dollar deficits, for crying out loud.”

The CNBC hosts joked that this negative growth rate means that the federal government will have to pursue yet another stimulus program to the tune of $800 billion. The joke became serious, however, when one host suggested that an $800 billion stimulus in the form of tax cuts may not be a bad idea.

We can consider this yet another warning signal that the Obama administration still hasn’t realized that Obamanomics hasn’t worked, and the flow of government stimulus just masks the underlying stagnation only for just as long as it continues to flow.  Michael Ramirez put his Pulitzer-winning wit and talent to this point even before the GDP numbers made him look prescient:

Obamanomics is certainly Lost in Space.

Also, be sure to check out Ramirez’ terrific collection of his works: Everyone Has the Right to My Opinion, which covers the entire breadth of Ramirez’ career, and it gives fascinating look at political history.  Read my review here, and watch my interviews with Ramirez here and here.  And don’t forget to check out the entire Investors.com site, which has now incorporated all of the former IBD Editorials, while individual investors still exist.

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It didn’t take that long for his 2nd term to blow up.

Oil Can on January 30, 2013 at 3:16 PM

The CNBC hosts joked that this negative growth rate means that the federal government will have to pursue yet another stimulus program to the tune of $800 billion.

Don’t joke about it. That’s exactly what the Dems want. We’re running trillion-plus dollar deficits and their answer to negative GDP is to spend even more.

Doughboy on January 30, 2013 at 3:18 PM

Oboobettiboob!

Shy Guy on January 30, 2013 at 3:18 PM

Don’t worry he can just blame his predecessor for all the problems he inherited from the previous term…

sauldalinsky on January 30, 2013 at 3:19 PM

All according to plan.
I’m increasingly disgusted. I didn’t know I had all this capacity.

freedomfirst on January 30, 2013 at 3:20 PM

I’d say Rick is being a little overly optimistic here….

ToddPA on January 30, 2013 at 3:20 PM

Contraction,that’s an abortion term isn’t it?

docflash on January 30, 2013 at 3:20 PM

It didn’t take that long for his 2nd term to blow up.

Oil Can on January 30, 2013 at 3:16 PM

Ain’t that the truth. 4 more years of this, kiddies!

Chuck Schick on January 30, 2013 at 3:20 PM

The democrats/progressive’s blood lust for destroying the country isn’t remotely over.

tom daschle concerned on January 30, 2013 at 3:21 PM

Me thinks we are more like zimbabwe, less than $217 in the bank! Since we haven’t had anyone for decades get into Ft Knox, there just might not even be any gold in them there hills?

bho is doing just what he said he wanted to do when first elected and now he feels he can do a total meltdown of the US?
L

letget on January 30, 2013 at 3:22 PM

Don’t worry he can just blame his predecessor for all the problems he inherited from the previous term…

sauldalinsky on January 30, 2013 at 3:19 PM

No problem. Since he’s his own predecessor, he’s just blaming the GOP for everything now.

Doughboy on January 30, 2013 at 3:22 PM

It’s almost like he’s wrecking our country on purpose!

search4truth on January 30, 2013 at 3:23 PM

We can consider this yet another warning signal that the Obama administration still hasn’t realized that Obamanomics hasn’t worked,

What are you talking about Ed, this is going exactly how King Obama planned it.

Cloward & Pivens.

JPeterman on January 30, 2013 at 3:24 PM

Me thinks we are more like zimbabwe, less than $217 in the bank! Since we haven’t had anyone for decades get into Ft Knox, there just might not even be any gold in them there hills?

bho is doing just what he said he wanted to do when first elected and now he feels he can do a total meltdown of the US?
L

letget on January 30, 2013 at 3:22 PM

Just wait until it’s decreed to simply do away with three digits. Instant devaluation.

freedomfirst on January 30, 2013 at 3:25 PM

More here:

Yes, the government was real. But the real inventory numbers are more meaningful.

“Buying” growth with federal spending doesn’t work. Rick Santelli is hammering on this and he’s right — this is a crap report and is underlining exactly what has been going on for the last several years.

There were other big distortions in the data that were helpful to the number — for example, “equipment and software” which was up big, but almost all of that is likely attributable to the fear of expiring tax credits for accelerated depreciation (which means “look out below!” for first quarter’s report in another three months!

Exports are down big (5.7%) and that is likely not related to tax policy.

Government spending’s decrease was all defense; ex-defense it was up 1.4%.

Finally, real gross domestic purchases were only up 0.1% .vs. 2.6% in the third quarter. That’s real final demand — and it collapsed. Note that this was into the holiday season and thus would be expected to be seasonally strong.

tom daschle concerned on January 30, 2013 at 3:25 PM

Dingle Barry built that!

Polish Rifle on January 30, 2013 at 3:26 PM

Don’t worry he can just blame his predecessor for all the problems he inherited from the previous term…

sauldalinsky on January 30, 2013 at 3:19 PM

And Fox News!

JPeterman on January 30, 2013 at 3:26 PM

Doughboy on January 30, 2013 at 3:22 PM

Jay Carney is already on it.

antipc on January 30, 2013 at 3:27 PM

A tenet of Obamanomics is that welfare spending stimulates economic growth so granting amnesty to 11 million illegal aliens many of whom will gorge themselves on welfare is a powerful economic stimulus.

Wigglesworth on January 30, 2013 at 3:27 PM

Insanity… In order for the GDP to even have an anemic growth the liberals are saying that we need to add at least a trillion dollars each year to the debt so the government can spend it and have a miserable 2% fake GDP growth… Any GDP growth that is not coming solely from private sector is not a GDP growth, end of story… if I take $ 10,000 a year cash money from my credit card cash line and add it to my gross income this does not mean what so ever that my growth income grew by $ 10,000…

mnjg on January 30, 2013 at 3:27 PM

While it’s important not to overreact

No, never do that. Never over-react, not as they eviscerate our economy, contrive to subvert our 2nd Amendment, or impose themselves into every nook and cranny of our affairs. Never overreact. The worst thing we can ever do is over-react. We’re well-mannered republicans who must daily demonstrate are peacable and imperturably moderate manners and intentions to the overlords of the media and culture lest we seen as right-wing over-reactors.

rrpjr on January 30, 2013 at 3:27 PM

Jay Carney is already on it.

antipc on January 30, 2013 at 3:27 PM

Yeah, I saw that earlier. That’s what I was referencing. Just get used to it(we’ve had 4 years of practice). When things inevitably get worse, Obama will lash out and blame Republicans, even when it comes to Obamacare which literally none of them voted for.

Doughboy on January 30, 2013 at 3:28 PM

Don’t joke about it. That’s exactly what the Dems want. We’re running trillion-plus dollar deficits and their answer to negative GDP is to spend even more.

Doughboy on January 30, 2013 at 3:18 PM

Just in time to bake a slush fund into the budget for the next four years.

Axeman on January 30, 2013 at 3:30 PM

This is all the fault of the previous administration.

The Rogue Tomato on January 30, 2013 at 3:31 PM

When does America finally turn on Obama? 2013?

Oil Can on January 30, 2013 at 3:31 PM

While it’s important not to overreact to the contraction, a contraction is still bad news … at least for most Americans.

We are not overeacting… We are stating pure and painful facts… The problem we have here is utter delusion and insanity by Obama and the socialist regarding the shrinking of the GDP and that the solution for them is to add at least a trillion dollars each year to the debt so the government can spend it and have a miserable 2% fake GDP growth…

mnjg on January 30, 2013 at 3:31 PM

Me thinks we are more like zimbabwe, less than $217 in the bank!

letget on January 30, 2013 at 3:22 PM

At least Zimbabwe HAS money in the bank. We have multitrillion dollar deficits.

HotAirian on January 30, 2013 at 3:31 PM

Meanwhile, as the desperate rebels send their puny force in to challenge the Emperor’s lack of a plan or even clothes, he yells,

“Behold the power of my FULLY OPERATIONAL DEBT STAR!”

So much for our economy.

Lily on January 30, 2013 at 3:33 PM

Worse than Europe even. Because we are moving headlong toward an immigrant takeover. Via democracy. When they get enough clout it will be a slippery slope where the democratic process will open the floodgates to let in the compadres of the current illegals. The socialistic U. S. of Mexico, no kidding. And full reworking of the constitution, and redistribution of assets to the low income immigrants. The U.S. taken over from the inside. Oh, I forget, we are now supposed to be all for amnesty. Don’t do it. Make the problems of illegal immigration a big issue (Romney shirked that issue!!!!), and maybe we can win because the people are upset. Otherwise we lose.
And look now more at Obamacare: “Immigration Reform could boost cost of Obamacare by hundreds of millions.” And the costs of everything. Free education, and all, for the new immigrants who are coming to take over. Unless we take a stand. Wake up. Start talking about the problem of the illegals, and the majority will back us. Otherwise we just get snowed. Don’t do it.

anotherJoe on January 30, 2013 at 3:33 PM

When does America finally turn on Obama? 2013?

Oil Can on January 30, 2013 at 3:31 PM

“America” never will turn on him. He was raised up to be in this position for a reason. That reason is judgment. America has become lukewarm and is in the process of being vomited out.

tom daschle concerned on January 30, 2013 at 3:34 PM

This economy is Obamable.

michaelo on January 30, 2013 at 3:34 PM

There were other big distortions in the data that were helpful to the number — for example, “equipment and software” which was up big, but almost all of that is likely attributable to the fear of expiring tax credits for accelerated depreciation (which means “look out below!” for first quarter’s report in another three months!

tom daschle concerned on January 30, 2013 at 3:25 PM

Wonder how the Dems are going to take their “whoopin’” on the economy.

That’s what I’m going to start saying when one of them starts braying about the “whoopin’ in November”. “Too bad you can’t fool the economy the way you can fool voters.” Or “Hey, it’s Obama’s War on Economics”.

Axeman on January 30, 2013 at 3:35 PM

I doubt that the Kardashian-watching moron voters most responsible for getting Obama re-elected even know what GDP is.

WhatSlushfund on January 30, 2013 at 3:36 PM

What are you talking about Ed, this is going exactly how King Obama planned it.

Cloward & Pivens.

JPeterman on January 30, 2013 at 3:24 PM

Tone it down, my friend. If all you purists hadn’t scared the independents with your accurate taunts and those extreme radical right wing methods, like telling the truth, Mitt Romney would’ve won in a landslide. Barack Obama is a nice guy who is just in over his head.

sauldalinsky on January 30, 2013 at 3:36 PM

We can consider this yet another warning signal that the Obama administration still hasn’t realized that Obamanomics hasn’t worked

Really? Once again: Why is Obama, a fine Harvard-trained lawyer, not bound by the long-standing rule that a man is deemed to have intended the natural consequences of his acts?

GaltBlvnAtty on January 30, 2013 at 3:37 PM

No, never do that. Never over-react…

rrpjr on January 30, 2013 at 3:27 PM

Well said.

freedomfirst on January 30, 2013 at 3:37 PM

I doubt that the Kardashian-watching moron voters most responsible for getting Obama re-elected even know what GDP is.

WhatSlushfund on January 30, 2013 at 3:36 PM

That’s the stamps I get every month right? /s

Oil Can on January 30, 2013 at 3:38 PM

Just in time to bake a slush fund into the budget for the next four years.

Axeman on January 30, 2013 at 3:30 PM

Luckily the Dems can’t do that with the GOP controlling the House. We may get more spending at its current level(for which the Republicans will get an earful from their base). But there won’t be any additional stimulus. I can see now why the Dems are so adamantly opposed to spending cuts. Can you imagine what GDP will look like if we do slash even a couple hundred billion from our annual expenditures?

When does America finally turn on Obama? 2013?

Oil Can on January 30, 2013 at 3:31 PM

I think maybe later this year at the earliest. If we go into another recession, he’s gonna suffer in the polls. He can blame the GOP all he wants, but a President in his 2nd term is gonna have to start delivering or else only his diehard supporters(of whom there are many it should be noted) will remain loyal. 2014 is when the fit could really hit the shan cuz that’s when Obamacare is fully implemented.

Doughboy on January 30, 2013 at 3:39 PM

BHO: Has Santelli seen my play book..?

d1carter on January 30, 2013 at 3:40 PM

Finally, real gross domestic purchases were only up 0.1% .vs. 2.6% in the third quarter. That’s real final demand — and it collapsed. Note that this was into the holiday season and thus would be expected to be seasonally strong.

tom daschle concerned on January 30, 2013 at 3:25 PM

This is the scary part. As bad as Q4 was, the truth is worse. The spike in activity is likely due to the holidays and tax cuts expiring. I saw a big spike in my 401k because companies were pushing dividends out the door to beat the fiscal cliff.

Add to that the expiring depreciation rates and the increase in taxes for 80% of Americans – Q1 2013 could very likely be worse which means recession.

Chuck Schick on January 30, 2013 at 3:42 PM

Obamanomics is certainly Lost in Space.

Yes, — in the big, empty space between Barry’s ears.

AZCoyote on January 30, 2013 at 3:43 PM

Beck- I will not give one more thin dime to the Republican’s.

Demands third party.

Mr. Arrogant on January 30, 2013 at 3:44 PM

When does America finally turn on Obama? 2013?

Oil Can on January 30, 2013 at 3:31 PM

You kidding, right? Blacks will not turn on Obama. Educators will not turn on Obama. Public unions will not turn on Obama. Hi-tech giants will not turn on Obama. Bankers will not turn on Obama (as long as he refuses to prosecute them). Media will not turn on Obama. And the rest of us has no money, no megaphone, no organizing power, and – very soon – no weapons. All we have is our ability to withhold our work, and between our mortgages and our families, we can hardly use it. If tomorrow Obama declares himself an Emperor, we’ll rant for a few days and then swallow it and go on. Welcome to reality, bro.

Archivarix on January 30, 2013 at 3:45 PM

We are not Europe.

They actually try to pay for their massive entitlement state (in addition to being able to mostly ignore defense spending).

This is phase 2 for Democrats – they hope that Americans will be so addicted to government spending that they’ll put up with 50-60% taxes on the middle class to try to pay for it.

gwelf on January 30, 2013 at 3:45 PM

Me thinks we are more like zimbabwe, less than $217 in the bank!

We don’t even have $217 in the bank — we have to envy THEIRS!

Hey: *I* didn’t vote for him…

Dirty Creature on January 30, 2013 at 3:49 PM

Carney is already blaming the house gop for these numbers

Don’t blame in chief

cmsinaz on January 30, 2013 at 3:49 PM

You kidding, right? Blacks will not turn on Obama. Educators will not turn on Obama. Public unions will not turn on Obama. Hi-tech giants will not turn on Obama. Bankers will not turn on Obama (as long as he refuses to prosecute them). Media will not turn on Obama. And the rest of us has no money, no megaphone, no organizing power, and – very soon – no weapons. All we have is our ability to withhold our work, and between our mortgages and our families, we can hardly use it. If tomorrow Obama declares himself an Emperor, we’ll rant for a few days and then swallow it and go on. Welcome to reality, bro.

Archivarix on January 30, 2013 at 3:45 PM

In fact a majority of people earning above $ 50,000 a year i.e. those who pay 95% of taxes voted for Romney, so yes we have much more money than the Obama parasite voters…

mnjg on January 30, 2013 at 3:49 PM

You kidding, right? Blacks will not turn on Obama. Educators will not turn on Obama. Public unions will not turn on Obama. Hi-tech giants will not turn on Obama. Bankers will not turn on Obama (as long as he refuses to prosecute them). Media will not turn on Obama. And the rest of us has no money, no megaphone, no organizing power, and – very soon – no weapons. All we have is our ability to withhold our work, and between our mortgages and our families, we can hardly use it. If tomorrow Obama declares himself an Emperor, we’ll rant for a few days and then swallow it and go on. Welcome to reality, bro.

Archivarix on January 30, 2013 at 3:45 PM

Don’t be too certain. Educators are feeling the effects of Obamacare already. Most will be too stupid or ideologically rigid to admit who’s at fault, but not all of them. Public unions will turn on Obama if more right-to-work legislation is passed at the state level. And if they don’t, it may not matter as their ranks continue to dissipate. Hi-tech giants won’t turn on him provided they remain giants. Hard to do that with a higher tax burden, Obamacare, a burdensome regulatory scheme, and a crappy economy where no one’s buying your products. Bankers will turn on him if it looks like his party is doomed in the midterms. Their loyalty lies with whomever is in power. As for blacks, they’ll always overwhelmingly support Obama. But if he were to go from 95% approval to 85-90%, that would be devastating for the Dems. And one has to wonder how much more they’re gonna tolerate under this administration.

Doughboy on January 30, 2013 at 3:51 PM

Anybody know where I can get an English-Austrian dictionary like Obama’s?

Christien on January 30, 2013 at 3:52 PM

Add to that the expiring depreciation rates and the increase in taxes for 80% of Americans – Q1 2013 could very likely be worse which means recession.

Chuck Schick on January 30, 2013 at 3:42 PM

I think your rosy prediction is a best case scenario.

Lily on January 30, 2013 at 3:55 PM

China..you are our only hope…
If only those Repubs in the House will keep on borrowing..

Electrongod on January 30, 2013 at 3:58 PM

In fact a majority of people earning above $ 50,000 a year i.e. those who pay 95% of taxes voted for Romney, so yes we have much more money than the Obama parasite voters…

mnjg on January 30, 2013 at 3:49 PM

Big mistake. Between your mortgage, food you put in your family’s mouth and gas for your car, most of your income is tied. Technically, are always one dramatic tax increase away from starvation. Even your savings – assuming you’re among the lucky few who still have any – are controlled by banks and, in case of pension plans, by the government. Compare this with a corporate giant who can spend a billion or two on a whim, to later have it written off their taxes by the Emperor (Google and GE are poster examples), and you shall see who actually has the money. And by the way, don’t knock the urban parasites – many of them have more disposable income than some middle class suburbanites who are taxed to provide that income.

Archivarix on January 30, 2013 at 4:01 PM

Anybody know where I can get an English-Austrian dictionary like Obama’s?

Christien on January 30, 2013 at 3:52 PM

Arnold Schwarzenegger should have one. :)

Archivarix on January 30, 2013 at 4:02 PM

Big mistake. Between your mortgage, food you put in your family’s mouth and gas for your car, most of your income is tied. Technically, are always one dramatic tax increase away from starvation. Even your savings – assuming you’re among the lucky few who still have any – are controlled by banks and, in case of pension plans, by the government. Compare this with a corporate giant who can spend a billion or two on a whim, to later have it written off their taxes by the Emperor (Google and GE are poster examples), and you shall see who actually has the money. And by the way, don’t knock the urban parasites – many of them have more disposable income than some middle class suburbanites who are taxed to provide that income.

Archivarix on January 30, 2013 at 4:01 PM

The payroll tax hike, thank you democrats! I must be RICH!, took all of my fun money out of my monthly budget.

tom daschle concerned on January 30, 2013 at 4:05 PM

NEW YORK (CNNMoney)
Just four years after the worst shock to the economy since the Great Depression, U.S. corporate profits are stronger than ever.

In the third quarter, corporate earnings were $1.75 trillion, up 18.6% from a year ago, according to last week’si gross domestic product report. That took after-tax profits to their greatest percentage of GDP in history.

But the record profits come at the same time that workers’ wages have fallen to their lowest-ever share of GDP.

Just a reminder how well Trickle Up Poverty works.

Chuck Schick on January 30, 2013 at 4:07 PM

It didn’t take that long for his 2nd term to blow up.

Oil Can on January 30, 2013 at 3:16 PM

Ain’t that the truth. 4 more years of this, kiddies!

Chuck Schick on January 30, 2013 at 3:20 PM

That’s if we are lucky.

Bmore on January 30, 2013 at 4:10 PM

Another troll free thread.
Sumpin’ in the water today ?

Jabberwock on January 30, 2013 at 4:11 PM

We are now Europe

Will there be cricket and rugby now? How about driving…do we need to move to the other side of the road? Is there a manual to go along with this fundamental transformation?

lynncgb on January 30, 2013 at 4:12 PM

The president has known all along what was happening.

Speakup on January 30, 2013 at 4:15 PM

We are now Europe
Will there be cricket and rugby now? How about driving…do we need to move to the other side of the road? Is there a manual to go along with this fundamental transformation?

lynncgb on January 30, 2013 at 4:12 PM

The football is now round.
And the World Championship is once every four years.

Jabberwock on January 30, 2013 at 4:15 PM

Here’s another bit of economic news. Most large cities across the US have unfunded pensions AND post retirement healthcare obligations. I was perusing a very rare article in our local paper and noticed they did not mention the health care aspects of the post retirement debt. Turns out the City of Houston has written off the healthcare benefits and have used ObamaCare as the reason.

Magically our obligations have more than halved from $5.8 billion to $2.5 billion. That my friends is how Illinois will be made whole as well.

DanMan on January 30, 2013 at 4:17 PM

In many more ways than one are we Europe.

voiceofreason on January 30, 2013 at 4:17 PM

Here’s another bit of economic news. Most large cities across the US have unfunded pensions AND post retirement healthcare obligations. I was perusing a very rare article in our local paper and noticed they did not mention the health care aspects of the post retirement debt. Turns out the City of Houston has written off the healthcare benefits and have used ObamaCare as the reason.

DanMan on January 30, 2013 at 4:17 PM

They’re not going to provide a healthcare plan at all to retired city workers?

Chuck Schick on January 30, 2013 at 4:19 PM

Here’s another bit of economic news. Most large cities across the US have unfunded pensions AND post retirement healthcare obligations. I was perusing a very rare article in our local paper and noticed they did not mention the health care aspects of the post retirement debt. Turns out the City of Houston has written off the healthcare benefits and have used ObamaCare as the reason.

Magically our obligations have more than halved from $5.8 billion to $2.5 billion. That my friends is how Illinois will be made whole as well.

DanMan on January 30, 2013 at 4:17 PM

Obamacare is awesome!

/

Lily on January 30, 2013 at 4:19 PM

Matt Yglesias ✔ @mattyglesias

Impressed by conservatives ability to pretend to believe that Obama is 100% responsible for events 1.5 years into divided government.

Matt Yglesias ✔ @mattyglesias

You can’t fake that kind of bullshit, it takes real conviction.

From the losers STILL blaming Bush!

Don’t you, cons, EVAH blame Obama for “inheriting” himself!

/

Resist We Much on January 30, 2013 at 4:23 PM

Obamacare is awesome!

/

Lily on January 30, 2013 at 4:19 PM

Obamacare Supporter Gets Mugged By Reality…Pure Schadenfreude Ensues

Luv, it’s a beautiful thang…

Resist We Much on January 30, 2013 at 4:29 PM

Matt Yglesias ✔ @mattyglesias

Impressed by conservatives ability to pretend to believe that Obama is 100% responsible for events 1.5 years into divided government

And yet Bush in 2008 had dealt with a “divided government” for two years with a democrat controlled house and senate… and the fact the dems wouldn’t pass a budget. Does this dufus even think about what he tweets before he does it?

Oh yeah… we saw the story about Twitter earlier today….

Turtle317 on January 30, 2013 at 4:30 PM

From the losers STILL blaming Bush!

Don’t you, cons, EVAH blame Obama for “inheriting” himself!

/

Resist We Much on January 30, 2013 at 4:23 PM

What’s the problem with divided government? When it was united we got the Stimulus, ObamaCare and trillion dollar deficits guaranteed till Obama’s out of office.

Chuck Schick on January 30, 2013 at 4:30 PM

Matt Yglesias ✔ @mattyglesias

Impressed by conservatives ability to pretend to believe that Obama is 100% responsible for events 1.5 years into divided government.
Matt Yglesias ✔ @mattyglesias

You can’t fake that kind of bullshit, it takes real conviction.
From the losers STILL blaming Bush!

Don’t you, cons, EVAH blame Obama for “inheriting” himself!

/

Resist We Much on January 30, 2013 at 4:23 PM

Would like to hear from Mr. Yglesias under what permutations of govt. control whould he hold Obama responsible.
2 years of COMPLETE control and 1.5 years of 2/3 control and all we get is him laying it on the REpublicans.
Deep Thinker this man is.

Jabberwock on January 30, 2013 at 4:30 PM

That’s exactly what the Dems want. We’re running trillion-plus dollar deficits and their answer to negative GDP is to spend even more.

Doughboy on January 30, 2013 at 3:18 PM

It’ll never get through the present House.

John the Libertarian on January 30, 2013 at 4:36 PM

What’s the problem with divided government? When it was united we got the Stimulus, ObamaCare and trillion dollar deficits guaranteed till Obama’s out of office.

Chuck Schick on January 30, 2013 at 4:30 PM

Luv, I luv divided government. Note sarc tag.

Resist We Much on January 30, 2013 at 4:41 PM

Luv, I luv divided government. Note sarc tag.

Resist We Much on January 30, 2013 at 4:41 PM

I responded to Yglesias. As you can tell, I’m out there all alone:

Matt Yglesias ‏@mattyglesias

Why do conservatives think a Q4 GDP report in which private activity grew and government consumption shrank is bad?

sauerkraut ‏@IamSauerkraut
@mattyglesias you message contains a fallacy: the assumption that conservatives engage the brain before they open their mouths.

7h Always Winning Always Winning ‏@AlwaysWinning1
@mattyglesias They never read past the headline. Lots of scary, sciency stuff in there.
Expand

7h rob rob ‏@SilentMars
@mattyglesias Because they’re dishonest. #boringanswers

7h Dan Bock Dan Bock ‏@danbock10
@mattyglesias That’s easy. Because a democrat is president.

7h Nick Hodge Nick Hodge ‏@nickchodge
@mattyglesias Not conservative, but figure it can’t be good to rely on government spending for GDP. This shows dependence on gov.

4m Lance Manion Lance Manion ‏@Indelliberteque
@mattyglesias Is it because the economy shrank?

Chuck Schick on January 30, 2013 at 4:46 PM

Resist We Much on January 30, 2013 at 4:29 PM

Poor saps. I feel for them I really do.

If only we would have had some way of letting people know that this was going to happen. Something on television maybe. Something that ran every night at say, 5pm and 10pm when people are home watching. Something that everyone could count on to give them the news of important legislation and the consequences thereof. We could call it the nightly news and it could be free and everyone could tune in and find out what’s up.

Too bad we don’t have that. Now they just have to find out for themselves when reality bites them in the butt. And it does bite. Hard.

Lily on January 30, 2013 at 4:53 PM

Doughboy on January 30, 2013 at 3:39 PM

Obamacare will not implement in 2014. The exchanges aren’t ready. But the taxes on private health plans are ready to go. So you are going to immediately increase health care costs on all employers who currently have plans – depending on how many dependents you have – let’s assume four – it could be around 5%. So what will employers do – raise premiums as far as they can, layoff some workers or just drop workers and pay the penalty – and of course there will be no exchanges to get coverage. This will create a challenge from businesses being taxed and so the dropped employees will have to enter the individual market where rates are increasing by more than 20 or 30%.

Isn’t govt nice – your rates will go down and you get to keep your insurance!

Zomcon JEM on January 30, 2013 at 5:02 PM

Official Medical Advice from Obmacare;

When a head wound is bleeding profusly, apply a Tournequet to the Neck Area to stop the flow of blood to the head.

jaydee_007 on January 30, 2013 at 5:03 PM

I’m now making it my mission to ridicule Matt Yglesias on Twitter:

Matt Yglesias ‏@mattyglesias
The austere recovery—government consumption’s been steadily falling for years now: http://www.slate.com/blogs/moneybox/2013/01/30/austerity_and_recovery_government_consumption_is_falling.html

4m Lance Manion Lance Manion ‏@Indelliberteque
@mattyglesias Why, it’s almost as if all these trillion dollar deficits went to waste or something!

Chuck Schick on January 30, 2013 at 5:04 PM

This is why the GOP’s “subtle and deep” strategy will work, so long as it’s not really just a series of capitulations. If we’re all right about Obama’s policies, the events of his second term will be a stunning rebuke to the policies of his first. The GOP lost in 2012 in part because Obama was able–with a great deal of help from the media, of course–to blame much of his own failure on the GOP. The GOP holds a minority of the power in DC. What better can they do but stand back and let this all blow up in the Democrats faces? If by 2016 the nation is out of money, and people are out of patience with, and remittances from, the Democratic party, then the GOP will come to power with a mandate to once and for all put the federal government back in its proper place.

EricW on January 30, 2013 at 5:38 PM

“Right now, our economy is growing…”

- President Barack Obama, 14 January 2013

“You see that economic growth? I BUILT THAT!

- President Barack Obama

“The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter. The surprise contraction could raise fears about the economy’s ability to handle tax increases that took effect in January and looming spending cuts.”

- Associated Press, 30 January 2013

“You see that economic contraction? REPUBLICANS BUILT THAT!”

- President Barack Obama

Resist We Much on January 30, 2013 at 6:23 PM

You kidding, right? Blacks will not turn on Obama. Educators will not turn on Obama. Public unions will not turn on Obama. Hi-tech giants will not turn on Obama. Bankers will not turn on Obama (as long as he refuses to prosecute them). Media will not turn on Obama. And the rest of us has no money, no megaphone, no organizing power, and – very soon – no weapons. All we have is our ability to withhold our work, and between our mortgages and our families, we can hardly use it. If tomorrow Obama declares himself an Emperor, we’ll rant for a few days and then swallow it and go on. Welcome to reality, bro.

Archivarix on January 30, 2013 at 3:45 PM

Yup.

Cleombrotus on January 30, 2013 at 6:56 PM