Obama to unveil economic plan in September speech

[el_em_en_oh]

(Reuters) - The White House on Wednesday said President Barack Obama would unveil fresh ideas to jump-start the economy and cut deficits, but details offered so far appeared to be a compilation of old proposals.

ENTIRE ARTICLE:
http://www.reuters.com/article/2011/08/17/us-obama-jobs-proposals-idUSTRE77G2QD20110817

[adgal]

We have been putting money into RRSP's (our version of a 401K) for years.  Not a lot, but of course we too do not believe we can depend on SS, so every month, some goes away.  We do not want to wind up being supported by the system (welfare).  It was pretty heartbreaking this week to watch.  We are by no means wealthy and trust me, no extra money for extras.  We are watching them...and it scares me to see what has happened to all our hard work.  We busted our butts for every dime...now so much of it is just gone.

[teko]

Those things you describe sound like earmarks to me. You know the ones. the favors someone is asking for in order to give something someone else wants? There is a whole bunch of stupid stuff. Always has been which is part of the problem.

[bbxx]

I can relate to the family with money. In  my case its my dem. family that is watching the stocks. lol Our conversations are always about that, and when it  comes to that, I know even less than I do politics. The only thing I know is they have enough money to gamble with. (thats what I understand stocks to be...a risk of getting more or losing it). I never had to worry about that because I dont have enough money to play with any of it. lol
Middle class cant afford to live on what we live on and we dont qualify for help. (I wouldnt take the help anyway, but just saying we couldnt get it if we did want it).
I am still not for the rich paying more taxes, but I am all for them letting me decided which money goes where. (no more useless studies, and if its true that some of these other things we are doing, like spending gobs of money to teach Chinese prostitutes to drink responsibly... that would be gone too..... can you believe that one? How about getting the girls out of the business of destroying their bodies? Ugh....

[teko]

Yes, I had to laugh when out with my sista yesterday. She is a pub. She has been watching the stocks and is scared as hell. She said she maintains her two homes and lives off the interest it creates. She is retired. Me, I am working to keep the rental over my head paid off each month so I can have a house to live in, watching my husbands pay go down each month after already losing the health insurance, trying to keep food on the table and put a little something to the side for when I cannot work as they will probably do away with my ss Ibeen paying in for decades. Me, I dont worry about the stocks and maintaining my lifestyle. I pick out the coolest bridge for when that weekly paycheck ceases to exist. And Im considered middle class. Recession you say? Depression? Call it what you will, it is desparate is what it is for all of us in one way or another.

[bbxx]

I dont really understand the (back in a recession).
Where I live, we never left.
I dont think we are headed for (another recession). We are headed for a depression.
"a recession is when your neighbor loses his job, a depression is when you lose yours"

[brice1967]

Oh yeah, not so sure that this is treasonous.  Probably less than brilliant, but not so much treasonous.

[brice1967]

To Perry's credit, I think blaming Bernanke is appropriate even thought Bernanke is a Bush hold out.  What is missing here is the fact that Bernanke has made some mistakes and is not owning up to them.  It is easier to duck and cover....  Moreover, there have been plenty of people in position now and then that have botched things up, and very few of them are taking responsibility.  It is both sides... neither is owning up to their mistakes.

[bbxx]

Totally against printing money, but treason? Thats wrong.
Dumb yes, treason no.

[teko]

I think Bernanke ought to lawyer up and sue the sob. Those are serious charges and bring prison time so you better be sure you know what you are talking about and can back it up.

I dont think Obama has the power to make them come back off of break. Besides the gop have an agenda while they are out to block any recess appointments.

And no, it doesnt matter what plan the pres comes up with, the party of no is simply going to say no.

[margypops]

More bad news out today more jobless claims and it was said we may be going back into recession .I believe that the FED is really bad for us .I think Perry is correct when he says Bernanke is treasonous .why is printing yet more money good for America ??

[adgal]

It's good that he has a plan. He has a job plan to he is going to unveil as well. I heard some good points made on this issue though.  Yes, it's good he is taking action...but why wait?  Many seemed to be saying he should call congress back to work and get going on this..now.  That would show commitment.  Anyway, the Republicans have already said they will not work with this if it includes spending at all.  I don't think economic and jobs plans can work without spending, so the plan won't go through anyway.  Those two parties just won't work together at all now.

[teko]

Do you know who Suzie Orman is? She has been saying for over two years that people do not realize just how much damage was done in this recession. She says 2012 is going to be very bad with the housing market doing a double dip and until that is worked out, there will be no uptick in jobs. She said no matter who was at the helm right now that the damage was so significant that it will take us till probably around 2015 to get back where we were before all fell apart.

Politics is politics. You got an election year coming and lots of crap is being spewed from all directions. I heard Perry accused Bernanke of committing treason if he prints more money. Bernanke is a left over from the Bush Admin. I guess perry forgot that one!

My point is that you are absolutely right when you say, nothing is gonna turn this around anytime soon. The stocks are crazy and people are losing their 401s, and their retirement. I would also remind you that ss and medicare are two programs self funded and if they get touched in a negative way, you will see civil war right here on our soil. Seniors are the biggest group of people right now, not smart to mess with them after paying in all their lives.

[margypops]

I think they are still trying to catch their breath from his scintillating last speech and his running around in the' little' shiny Canadian built black bus with no US flags on it .......hey it'll be some fun again anyway .

[el_em_en_oh]

Why do people continue to believe that government can fix this mess?

What has the government EVER done better than the free markets? Where in the United States Constitution does it guarantee you healthcare?

Life is hard. No one is guaranteed a free and easy ride.

Let’s review:
1. Government Medicare/Medicaid…going broke
2. Social Security…going broke
3. Education Dept…ineffective and expensive
4. EPA..Preventing us from drilling for oil and gas where we have it and save us money from importing it (typical government crap/bureaucracy)

Why is that most politicians, including the President, suffer from the delusion that government creates jobs? Businesses create jobs, just as they did in the 90′s with company creation around technology that resulted in large increases in government revenues. There is little that politicians can do except not create barriers to business growth and opportunity (ie: the EPA).

In reference to the article... Kind of late to get busy, isn’t it?

Fifteen months ahead of November 2012, when Obama will be voted out of office for incompetence.

Anything he says or does from this point is just scrambling, trying to get re-elected so he can mail it in for another four years. What a lemon.

Massive disappointment. It is something of an incredible achievement that Obama could perform so dismally as to make Bush43 look less like the moron I knew him to be.

I DO wonder where the vocal support is from his own party is. Democrats appear to be silent, scared and spineless (not CE-Forum members... his usually-vocal party members).