It’s silly season
Obama’s SuperPac’s New ad:
Morning Joe reacts, Via Gabriel Malor on Twitter:
And in the most ridiculous statement so far, Obama claims his economic plan is working:
Discussing his economic policies at a fundraiser in Oakland, California, last night, President Obama, told supporters that “we tried our plan — and it worked.”
“We tried that and it didn’t work,” Obama said of Mitt Romney’s proposed tax cuts and spending cuts, which he dismissed as a Bush-style “top down” economic policy. “Just like we’ve tried their plan, we tried our plan — and it worked,” he added later in the speech. “That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”
Is he high?
Obama’s view of the economy is not shared by congressional leaders in his own party. “The economy has not recovered,” Rep. Henry Waxman, D-Calif., said in a recent interview. “Some people call it a recession, I think it’s a depression.”
But Obama says his economic policies are working. Huh. Does this sound like something that is working?
On July 1, Washington began the final quarter of a fourth consecutive fiscal year with a $1 trillion-plus deficit.
This year, the Congressional Budget Office estimates that Washington will spend $3.627 trillion. That is equal to the entire federal government debt (held by the public) in 1995.
Before 2009, Washington had never run a deficit of even $500 billion — let alone $1 trillion.
In 2009, the federal government’s deficit was $1.412 trillion — over 2.5 times the previous record ($458.6 billion in 2008). Since recording its first $1 trillion-plus deficit, Washington has had nothing else.
But, but, but… the housing recovery. Was demand pulled forward? Could it be that warm weather encouraged people to venture out of their igloos? It appears so as new home sales plunge 8.4% MoM on expectations of a rise of 0.7%, days after the already fudged NAR data showed a huge miss in existing home sales as well. This is the first miss since October of last year and the biggest miss of expectations since October 2010. This is the biggest absolute drop since January [.]
Unemployment, GDP, etc. The list goes on. By what metric does Obama judge that his policies are working?
I suppose his personal economy is doing just fine.