So how is the economy?

speechlesstx · #1 Oct 21, 2008, 02:39 PM

McCain was lambasted, lampooned and harpooned over saying the fundamentals of the economy were strong. Looks like Barney Frank agrees with him.

Quote:

Barney Frank: 'The Fundamentals Are Better Than the Psychology'
Photo of Mark Finkelstein.
By Mark Finkelstein (Bio | Archive)
October 20, 2008 - 20:25 ET

Shades of McCain from an unlikely corner . . .

When at the beginning of the current financial mess John McCain declared that "the fundamentals of the economy are strong," he was roundly lambasted by the MSM, while the Obama campaign called his statement "an enormous mistake."

So, should we expect the liberal media and the Obama campaign to go after Barney Frank . . . now that he has said something remarkably similar? Discussing the markets with Maria Bartiromo on CNBC this afternoon, Frank declared: "I think it's clear that the fundamentals are better than the psychology."

View video here.

While he was at it, Frank echoed McCain on another important issue. Like the Republican candidate, the Dem chairman of the House Financial Services Committee indicated it would be a mistake in the current economic climate to raise taxes on the richest Americans, as Obama has proposed.

MARIA BARTIROMO: So you agree: taxes should go up, then, on the top earners, even in this slow environment.

BARNEY FRANK: No. Not right away. I want to wait a year.

BARTIROMO: Will you ask [Obama] to push the plan back then? Because he wants to raise taxes as soon as he gets in office, correct?

FRANK: Well, I do not think he has said recently he's going to do it as soon as he gets in office.

Really? When Obama told Joe the Plumber he wants to "spread the wealth around," there was nothing to indicate he meant later, not now. The official Obama website similarly suggests nothing about a delay:

Obama will ask the wealthiest 2% of families to give back a portion of the tax cuts they have received over the past eight years to ensure we are restoring fairness and returning to fiscal responsibility.

Obama might have Colin Powell, but McCain has Frank! To be sure, the Dem congressman expressed formal support for Obama, but on the big economic issues of the day, Barney was singing John's song.

Barney agrees with McCain on the economy, Biden agrees that McCain is more qualified to be president, just who is on Obama's side in his own party? And why is Newsbusters the only one reporting this? A Google News search just now yielded one hit, Newsbusters.

tomder55 · Oct 21, 2008, 04:54 PM

Tax the Rich
Feed the poor,
Till there ain't no
Rich no more

All these people are just gonna sit around while Barney Frank and Obama plunders their wealth.
The 400 Richest Americans sorted by Rank - Forbes.com

I wonder if they will be called traitors by Joe Biden when they move their wealth off shore.

letmetellu · Oct 21, 2008, 06:09 PM

After these rich and affluent people have moved their riches to another country the poor folks left here in the US can take turns giving each other a job.

These so called rich people are not just rich they are notabley more ambitious than the poor and therefore will keep returning their riches back into the economy, unless it is all taxed away.

tomder55 · Oct 22, 2008, 03:43 AM

indeed let

Napolean approached Moscow towards victory and the Ruskies burned the city down denying him his covetted prize. In 'Atlas Shrugged' Francisco d’Anconia blew up the copper mine rather than deliver the fruits of his labor to the socialists.

excon · Oct 22, 2008, 05:06 AM

Hello wrongwingers:

Now, I'm not a fellow who likes to pay taxes...... But, YOUR REPUBLICAN president, the esteemed dufus in chief, just GAVE away $700 BILLION or so, of YOUR tax dollars.

Don't you think you have to pay it back???? No, you don't, do you?

excon

tomder55 · Oct 22, 2008, 05:15 AM

I don't think you found any of us that thought the bailout was a good idea.

Frank illustrates how clueless Obama really is . Even Frank admits it is a bad idea to increase taxes when the economy is in a downturn .

excon · Oct 22, 2008, 05:28 AM

Hello again, tom:

Good idea or not, the money is GONE - SPENT - KABLOOIE. Somebody has to pay it back, whether they want to or not.

Actually, I'm getting the sense that you Republicans think you can just print up a bunch of money, spend it willy nilly and tomorrow be damned.

Hmmmpf. YOU sound like DEMOCRATS.

excon

tomder55 · Oct 22, 2008, 05:37 AM

I gotta hope all the optimistic predictions by the proponents of the plan ......that it will pay for itself ;come to fruition .....or else I agree that it will have to be paid off somehow.

Does Obama propose to reduce the size of his very ambitious spending proposals that are estimated to cost at least another $ trillion because of the bailout debt ?

Nope . But McCain does propose across the board spending freezes except for essential services.

So who has the better plan ?

excon · Oct 22, 2008, 05:46 AM

Quote:

Originally Posted by tomder55

So who has the better plan ?

Hello again, tom:

Well, as long as we're divvying up the spoils, instead of paying back what we borrowed, I think the rich have enough, thank you very much.

And, nooooo. I don't think we should "spread it around", unless you think fixing that bridge you drive on every day is "spreading it around". But, of course, you guy's aren't speaking English right now. You're speaking political speak, where "spreading it around" is code for don't vote for the black guy.

excon

tomder55 · Oct 22, 2008, 05:58 AM

again the race card doesn't apply here no matter how hard you try to bring it up.

Do you really think that all those rich guys on the Forbes list I posted will sit idly by while being plundered ? lol Even Warren Buffet who supports Obama knows better than to leave his income exposed to the rates Obama proposes.

Fixing bridges is legitimate use of revenues .The Constitutions says so. But even Keynes himself would not increase taxes during and economic downturn . What will Obama do ? Put us all in green cover-alls to work in his new WPA ?



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