Man, oh, man, oh, man. I leave this program yesterday and I come back today, and in the interval, Obama's out there saying that if we don't pass the extension of the Bush tax rates we face the possibility of a double-dip recession. Now, first, in order to have a second recession you have to get out of your first recession which we're not out of the first recession. So having a double-dip is still a matter of events. But, folks, there is something going on here. Obama has not had a come-to-Jesus meeting or event here. He has not changed who he is. There's something else going on. Now all of a sudden this enthusiasm to extend the Bush tax cuts. And I think I've got this figured out. The key here is that there is nothing stimulative about them, and yet Obama is portraying them as stimulative. Why? 'Cause he knows it's gonna fail to stimulate. This is not a tax cut. And even if it were, two years is not enough for a tax cut to really indicate economic growth. It took four years for Reagan's to kick in, three to four years. We're looking here at just continuing tax rates. If there's any tax stimulus here -- and you tell me how big of one it is -- it's the 2% cut in the payroll tax for one year. At the end of the day that's not stimulus, either.
Now, we were talking yesterday that the worst thing that could happen for Obama is if this worked. But maybe not. If it works, what does he get to say? He gets to say he crossed the aisle, he put the country first, he put aside things, he worked with the Republicans, and it's working out, and he happens to be running for reelection. If it doesn't work, in other words, if there is no economic stimulus tied to the extension of these tax rates, he can say, "You know, I went against my better judgment. I knew this wouldn't work, but I thought for the sake of working with the other side to give it a try. Tax cuts don't work, supply-side doesn't work. I proved it in two years here. Supply-side doesn't work." Well, he's taking positions on both sides so that he can say that he wins no matter what happens.
Barack Obama does not believe that we are gonna have a double-dip recession if these tax rates aren't extended. He was kind of forced into that. Larry Summers went out and said that, and the regime denied it. This is just this week, the regime denied it. Then they had to double back and agree with it. But this is not something that they really believe. You know it as well as I know it. Obama does not think that extending these tax rates is a stimulus. He doesn't think that we're gonna have double-dip recession if we don't do this. If he thought that, he wouldn't have done any of the economic policies that he's done. My guess is he is really hoping this doesn't work, and there are a lot of people that think that the economy is gonna rebound anyway just because of time. Recessions don't go on forever. It's like Barney Frank said yesterday, (imitating Frank) "Clearly by 2012 the recession will be over." Clearly a lot of people think it will simply because it can't go on that long. And why it can't go on that long, the American people are gonna do something at some point. I mean they're the ones that drive the economy. So statistically you'd have to say, okay, it is gonna come back. And as you know, economies good or bad, presidents get the blame, do they not? [...] go read the rest and/or listen to the audio while you aren't doing anything.
Yes, they do. Every President gets the blame by someone all the time. Why? Because most of them pay no attention to the United States Constitution; they pass the laws they want passed and then blame the idiots called the American people; call them racists; call them amateurs, etc, etc, etc.
The Snooper Report.
Join us as we Take Our Country Back.
Sic vis pacem para bellum