Uncle Joe, the Middle Class & the Last 4 Years

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Seems to me that the Democrats controlled Congress back in 2007 through 2010 and the Republicans have controlled Congress for the last 21 months... Is this a gaffe or a confession? If I recall correctly, the Romney/Ryan plan is to reduce taxes for everyone.

Oh well, Uncle Joe looked stern and the sheeple will line up for this flavor of Koolaid all day long, never mind the facts.

lol Got to love BiteME. Put his foot in his mouth again. Yep the middle class has been buried by Obuma the last 4 years.

I dislike name calling....no matter what side of the fence it comes from. Come on guys. two wrongs never make it to right.

Becky wrote: I dislike name calling....no matter what side of the fence it comes from. Come on guys. two wrongs never make it to right.

The topic wasn't about two people... just one... Biden.

I've had the feeling for a little while now that Team Obama is trying to throw the election. Whatta ya think?

Becky wrote: ...two wrongs never make (a) right.

But three lefts do!

I thought I read several months ago that the Fed was out of arrows for its quiver. That's why I don't get this whole QE 3 thing. If I didn't know any better I'd swear it was politically motivated.

I keep hearing how we shouldn't keep doing what doesn't work. I would say the current effort to solve our fiscal crisis is a bust too. Why would we want four more years of the same old stuff (SOS)?

QE3 was a sign of failure
Commentary: We dodged Depression, but there’s no recovery in sight

http://www.marketwatch.com/story/qe3-wa ... genumber=1

When Federal Reserve Chairman Ben Bernanke announced a new round of unconventional monetary stimulus last month, he couched it in the language of grim necessity, saying:

“The employment situation… remains a grave concern…Fewer than half of the eight million jobs lost in the recession have been restored… Five million Americans have been unemployed for more than six months, and millions more have left the labor force—many of them doubtless because they have given up on finding suitable work.”

In a speech in Indianapolis Monday that’s well worth reading, Bernanke claimed that “…although monetary policy cannot cure the economy’s ills,…we do think it can provide meaningful help. So we…are going to do what we can do and trust that others, in both the public and private sectors, will do what they can as well.”

Trust whom? Congress? The Obama administration?

Bernanke’s new policy was an implicit admission that for everything his agency — and Congress and two presidents with TARP, various stimulus programs, and tax cuts — had done, the economy and employment were still in a rut.

In other words — mine, not his — the Fed had failed to accomplish its goals.....

So there you have it: A $2-trillion increase in the Fed’s balance sheet may have gotten you roughly 2.5 million jobs, about what several outside economists say the Obama administration’s stimulus plan saved or created.

It also was close to the two million jobs I estimated the Bush tax cuts may have helped create in the mid-2000s.

Who can claim any of these was a big success?

And that’s the problem. Three big policy initiatives based on three different economic philosophies all have failed to spur employment in the past decade.

President Obama’s various Keynesian stimulus initiatives, which without tax cuts amounted to about $600 billion, have yielded modest results.

Ben Bernanke might agree. In his Indianapolis speech this week, he said: “Monetary policy is no panacea.” That’s true for supply-side tax cuts and Keynesian stimulus as well. These policies may have prevented the very worst — another Great Depression — but they still haven’t produced a good recovery.

So I listened last night and I've been listening and I don't hear anything new in the Obama Administration's plan that I already know isn't working. Mr. Obama must step aside and Mr. Romney must come in with a game changer. We can replace two previous lawyers with a business man. I'm putting my money on the business man. Mr. Romney.

Mr. Obama....it's time to go Sir.