Posted in Election 2012, National Politics, The Economy, Video

President Obama on the Romney-Ryan Economic Plan: It’s “trickle-down fairy dust” (VIDEO)

   August 15, 2012

Watch as President Obama explains how Mitt Romney’s economic plan is essentially nothing more than “trickle-down fairy dust” that’s been tried and has failed as a means of creating jobs.

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5 thoughts on “President Obama on the Romney-Ryan Economic Plan: It’s “trickle-down fairy dust” (VIDEO)”

  1. The Biden clip that follows is also a good excerpt. The question is who are they trying to convince? The Democratic base understands that Romney and Ryan are fraudulent and hazardous, that neither of them understand what limited government means; Ryan and Romney still haven’t completely come clean with all the details in their plans – details like what specifically will be cut, but given the scope of what they have revealed, the cuts would have to be so unprecedented and so deep that what remains would be unrecognizable as a functioning government. It is the Right Wing dream world, and the Right Wing base is convinced that dismantling government is what is best – so who is the audience here? I’m not suggesting Obama and Biden shouldn’t be pointing out the obvious – that the Right Wing vision is plainly an unrecoverable disaster for most Americans – most Americans haven’t recovered yet nor ever will recover from the Conservative policies enacted since Reagan. I’m just posing a question.

  3. Super Id, I’m not sure I follow your path of pseudo-equivalency when it comes to Stockman. Can’t say that I disagree with him entirely as to his criticism of contemporary Republicans, banks which are too big to exist etc. but I don’t quite get what you are pointing out. His criticism of the White House mortgage plan doesn’t even make sense.

    To your point – our choices are then what?

    Choice One: Crony socialism that bails out big banks while it bails out homeowners at the same time? Who’s the crony here? Who’s that special friend who gets the perks of cronyism? And who would get nothing with no intervention and who would still profit immensely with no intervention? So, are the homeowners the cronies? The big banks are the cronies?

    Choice Two: Crony capitalism in a plan “devoid of math or hard policy choices” and which condemns the nation to the poor house – a house that would be so destitute it will be bulldozed to make room for what? The market? The select few? Who’s the crony here? Who’s that special friend who gets the perks of cronyism? Funny, Stockman doesn’t mention cronyism in the Ryan plan, despite it being a budget saturated with cronyism.

    Granted, he does take some pot shots at the Romney/Ryan approach. A Republican approach, which, according to Stockman “embraces the welfare state, the warfare state and the Wall Street-coddling bailout state” … which, according to Stockman, is lamentable for its betrayal of “vibrant capitalism” … which, dare I say, is a false past. Vibrant capitalism didn’t bring prosperity to this country. A vibrant public sector, a progressive tax system, and a tempered market brought prosperity to this country.

    So, to your point, Stockman’s earlier criticism of the president’s housing plan – Critique of a single program not designed to be the nation’s complete roadmap versus critique of a dishonest blueprint that is designed to be just that – a full template? Is Stockman right on both counts or wrong on both counts or maybe he’s right on one count and wrong on the other? Maybe he’s got some things right and some things wrong in both instances? Perhaps the point you are making is apples to oranges or durians to ugly fruit?

    So our choices are what? Crony socialism that rightfully intervenes in a market incapable of managing or correcting itself? Intervening on behalf of whom? Of veterans and military personnel who have been scammed by the market with outrageous interest rates and gouging fees and who have been wrongfully foreclosed upon? Crony socialism that intervenes on the behalf of whom? The cronies are who? Veterans and active service members?

    Intervention on the behalf of whom? Homeowners who found themselves out of work after the crash – a crash due to failure of a market to responsibly and ethically regulate itself. Intervention so job-hunting homeowners may receive a 12 month forbearance while looking for employment. Who is the crony here that is getting the benefit of socialist cronyism?

    Intervention on behalf of whom? And by means that do what? Homeowners who did everything “right” who now are able to slice through miles of red tape ( i.e. crony financial bureaucracy) to save their homes and save them thousands of dollars per year? And how much will the president’s plan add to the deficit? $0.00. Yeah, that’s right. $0.00.

    And what’s the other choice we’re looking at? The Ryan plan that explodes the deficit by quadrupling it, though to be fair, some argue the Ryan plan will only triple the deficit – tripling or quadrupling depends, really, on those details that Ryan refuses to come clean on. It wouldn’t be so bad, though, either way – quadrupling just means another trillion dollars or so. But back to your “comparison” – what does the Ryan plan do for mortgage borrowers? Oh yes – it eliminates the mortgage deduction which by all credible estimates could trigger an implosion of the housing industry – the real estate market… so is this the choice you are pointing out, Super ID?

    So for Stockman – “Either we are a market, capitalist economy or we are not.” I’d go with we are not, nor should we be. This country was not founded on capitalism. It was founded on principles that were pre-capitalist and pre-socialist and combined elements of each. Certainly not the “vibrant capitalism” we see today, which exemplifies the very dependencies the founders sought to avoid.

    I’ll take up your straw man, Super Id. A choice between crony capitalism that solidifies the corruption of our republic or crony socialism that actually makes an attempt to stave off catastrophe for those victimized by crony capitalists? My choice will be siding with the social crony – we the people – the public at large – the public good.

  4. SI, reluctantly, I’m going to vote for Obama, but I don’t see much difference between POTUS and Romney. Can you help me out?

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