Comments on Obama by economist Russ Huntley

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We now fact the risk that Obama loses whatever control of Congress he might have had as he loses popular support and the nation goes rudderless, while rising unemployment and faltering financial markets again work to get the deficit where it needs to be via the very, very ugly automatic stabilizers that might have more work to do.

And nothing the right fiscal adjustments (payroll tax holiday/per capita revenue sharing) can’t immediately reverse, but that seems less and less likely with each passing day.

And a national media that continues to have it all wrong.

On Mon, Aug 17, 2009 Russell Huntley wrote:

I would agree and I am an Independent. I know he has lost the progressives.

I have not seen Obama do anything different that what Bush did:

Still doing extraditions and harsh interrogations (possibly torture)

Still fighting wars and wasting tax payer’s money.

Still imprisoning 3% of our population for profit.

Economy is still a mess because the man who stood for change surrounded himself with a Wall Street team, who know nothing different. So the banks keep barely surviving. He should have put the money in the hands of the civilians and business through a payroll tax cut. Business’s would have had more money to retain employees and employees would have more money to buy goods, and if needed to save. Those savings would have gone to banks.

Health care — will give him credit, he is trying to give it a shot, but probably will end up doing nothing new but lining some pockets along the way.

Cap and trade — again whose pockets does that line. Probably GS and JP Morgan.

Stimulus — Where are our great new infrastructure projects. I thought we were going to build a ladder to stars, not a pit to hell.

By the way — Peter Schiff, the doom and gloomer, gold advocate and a person who thinks the FED should be abolished, gets a lot of press coverage. He recently announced that is running for Senator Dodd’s seat as a Republican. In his first month he raised $800,000. Pretty impressive. I think there is a large mass of the population out there who feel 100% unrepresented and who will support someone who says that they will represent them. Obama did it, but it appears he cannot speak honestly and that he is merely a mirage and probably the reason why his poll numbers are going in Bush’s direction.