Obama states today in his speech that "The Private Sector jobs are doing fine"?!?!?! Is he totally out of touch with reality?

by Drue-AFCL Posted 2012/06/09 02:58:44

Related Topics: Obama, Out Of Touch, Job, Jobs

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109 votes
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	yes	89 votes	82%
	no	20 votes	18%

+21

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☆The Rock☆ * AFCL* The Sher... 2012/06/09 03:07:04

yes

+14
He is a damn clueless moron..He doesn't know how to grow the economy!!
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gocar 2012/06/09 04:29:07

no

+1
No if you listened to the whole news conference he was saying that although not good the private sector was adding and not loosing jobs. The job situation was looking so bad because state and local governments were laying of thousands to try to live within their budget and they needed help from the Feds to keep essential workers on the jobs. The news media did not do a good job of disseminating what he said. They knew exactly what he was meaning but the Republicans jumped on the one phrase and ran with it even though they knew too what he was getting at.

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caius m... to gocar 2012/06/09 05:56:23

+2
Last month he set a record high for job loss..... that means worst ever. I think he said that the secktors are hiring, but not at a good rate. Of course somewhere somplace is hiring. Even if the employment rate was 1% that would mean 1% of jobs where being generated.

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Lt. Fred to caius m... 2012/06/09 08:39:47

+1
Do you have a citation for that?

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concerned 2012/06/09 04:27:33

no

+1
the private sector is sitting on trillions of dollars .. and wall street is doing even better ... and republicans are firing our police .. fire fighters .. and teachers .. the people that keep us safe here at home .. and built a stronger USA ... and that's what republicans call a smaller government .. HUMM whom the hell is out of touch ..

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Prophet to concerned 2012/06/09 05:53:29

+2
You are kidding I hope. Obama is a pathological liar.

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Lt. Fred to Prophet 2012/06/09 08:40:15

Did you read what he wrote at all?

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concerned to Prophet 2012/07/13 19:30:40

Not in this life time .. MITT has that title ... and wearing it well .. if I must say so myself ... LOL

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sammanilla 2012/06/09 04:06:05

no

+3
He knew he was lying.

That's all he does!

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Chokmah 2012/06/09 04:00:25

yes

+6
Our country is broke!

At this point the Federal Reserve is essentially monetizing much of the U.S. national debt. For example, the Federal Reserve bought up approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.

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Lt. Fred to Chokmah 2012/06/09 08:40:27

Not even remotely true.

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Chokmah to Lt. Fred 2012/06/09 11:31:56

+2
Educate yourself. It is 100% spot on. Look it up yourself. Don't be an ignorant Union shill.

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Franklin to Chokmah 2012/06/09 13:23:21

+2
Fred is not even an American ...he is looking in from the outside telling us what we need to do with our money -

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Diane S... to Franklin 2012/06/09 15:18:21

+1
An Aussie!!!!

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Lt. Fred to Chokmah 2012/06/09 13:34:42

Make an argument. America is simply not broke, the Fed is not 'monetizing' debt. That's just not correct.

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Chokmah to Lt. Fred 2012/06/09 21:16:58

Ok Freddie, what are those 'assets' that are appearing on the Fed balance sheet?

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Lt. Fred to Chokmah 2012/06/10 01:32:27

Federal bonds.

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Chokmah to Lt. Fred 2012/06/10 03:50:18

Ok, now please connect the dots... the Treasury sells Federal bonds (I.O.U.'s) to the Federal Reserve for 'Federal Reserve Notes (I.O.U.'s). The Treasury then has to pay interest to the Federal Reserve (a collection of private international banksters). Since the U.S. Treasury spends more on endless wars and bail-outs of Wall Street than it collects in taxes, the U.S. Treasury must 'borrow' more money. However, the Chinese don't want to buy any more U.S. Treasury bonds (I.O.U.'s), so the Treasury has the Federal Reserve print more 'Federal Reserve Notes', ie. 'U.S. dollars' (I.O.U.'s), thus creating more funny money out of thin air, (it's called 'monetizing the debt'). Capish?

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Lt. Fred to Chokmah 2012/06/10 09:05:30

{The Treasury then has to pay interest to the Federal Reserve}

At an extremely low or, sometimes, negative number. That's right- in some cases, people are willing to pay to lend money to the US government. Interest on federal debt has never been lower. To be clear, if the US government were near-bankrupt, the interest on debt would be very high.

{Since the U.S. Treasury spends more on endless wars and bail-outs of Wall Street than it collects in taxes,}

There is, of course, no choice.

{However, the Chinese don't want to buy any more U.S. Treasury bonds}

Doubly wrong. Most US creditors are American.

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Chokmah to Lt. Fred 2012/06/09 21:19:07

America is deeply in debt and except for the funny money (aka "Federal Reserve Notes") that it prints, it has no money. That is the very definition of bankrupt. It's also called 'counterfeiting'.

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Lt. Fred to Chokmah 2012/06/10 01:34:05

+1
Lies. The US could borrow another few trillion without an increase in borrowing costs, which are currently at the lowest level in history. The government is just about as far away from bankrupt as you can get.

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Elleryqueen 2012/06/09 03:58:14

yes

+6
He is totally clueless. He's arrogant enough to think that if he says it it must be so.

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Kaleokualoha 2012/06/09 03:55:37

no

+1
He actually said "the private sector is doing fine," not "The Private Sector jobs are doing fine." But he was still wrong.

"Seeking to head off any damage, Obama backpedaled and declared it is "absolutely clear that the economy is not doing fine." While there had been some "good momentum" in the private sector, Obama said, public sector growth lagged behind, making it imperative that Congress act on his proposals to hire more teachers and first-responders." - http://apnews1.iwon.com//arti...

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Lt. Fred to Kaleoku... 2012/06/09 08:41:05

+1
Which isn't actually a backpedal.

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Franklin to Kaleoku... 2012/06/09 13:26:33

+1
his fear is that we will lose this chance to advance the gains private sector has made AGAINST the productive economy ...he also said Europe is doing fine and their only problem is that they need to be able to barrow money at a lower rate to keep going ....yup Greece is doing just fine ! And so is America all we have to do is get low interest rates on the money we barrow and waste -

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The Duke 2012/06/09 03:55:13

yes

+6
The reality that most people acknowledge has no bearing on the Zer0-bama. I believe he thinks that if HE says it, it must be true. Unfortunately, his mindless drones buzz away happily, believing the latest word from the clueless messiah.

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Theresa 2012/06/09 03:54:24

yes

+10
I think what he meant to say was his cronies companies are doing fine. All the others do not matter.

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mwg0735 2012/06/09 03:51:03
none 2012/06/09 03:46:30

yes

+10
Obama comes up with stuff like this which is so far from reality I wonder what world he's living in and yet there are still Americans that actually like him and think he's telling the truth. What the hell is wrong with people??

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Nicole ... to none 2012/06/14 14:20:08

Try reading the remarks. The whole point of his speech was that we need to do more to strengthen the economy. At the same time it was worth point out that the private sector has generated 4.3 million jobs in the last 27 months and 800,000 in 2012. If all you do is read the line before and line after his "fine" comment you would see that he means the private sector is doing much, much better at job creation than the public sector. The elimination of state and local gov't jobs continues to be a big drag on the economy.

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none to Nicole ... 2012/06/14 15:53:11

Federal, State, and Local Govt. jobs especially those controlled by unions ARE a big drag on the economy.

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☆stillthe12c☆ 2012/06/09 03:22:39

yes

+11
He has made Jimmy Carter look good.

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Lt. Fred to ☆stillt... 2012/06/09 08:41:18

Jimmy Carter was quite good.

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☆stillt... to Lt. Fred 2012/06/09 17:15:07

At giving us high inflation.

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Lt. Fred to ☆stillt... 2012/06/10 01:34:36

Inflation certainly happened. Carter didn't cause it, of course.

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☆stillt... to Lt. Fred 2012/06/10 03:08:33

He just did not help it much. It increased on his watch and his action caused a recession.

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Lt. Fred to ☆stillt... 2012/06/10 08:54:46

Wrong.

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Nicole ... to ☆stillt... 2012/06/14 14:17:53

+1
The Fed stopped Carter-era inflation and the cost of stopping it was to cause a temporary recession.

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☆stillt... to Nicole ... 2012/06/14 16:08:58

That is correct. Carter brought in Volcker to stop the increase in inflation. This not only started the recession but it also forced interest rates way up. Housing interest went up. 17% is the highest I remember. I was paying 15%. They also charge you a lot to refinance to a lower interest rate. There was a time where housing prices fail.

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Captain Bacon 2012/06/09 03:20:46

yes

+7
That is an understatement!

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Bruce 2012/06/09 03:17:15

yes

+8
He is so full of himself he doesn't know what he is talking about.

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