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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » Does 0bama understand even the basics of our economy?

Does 0bama understand even the basics of our economy?

Barry is running the country headlong into bankruptcy, and his solution is to SPEND TRILLIONS MORE on health care.

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26 Responses to "Does 0bama understand even the basics of our economy?"

  1. Marcia B says:
    Yes.

    2pts

  2. TEA.TAXED ENOUGH ALREADY! says:
    Nope,he does not care,i said before he was elected he would destroy America… I was not far off…
  3. Pənny Proud says:
    Probably not. But he’s not really the one in charge; This economic downturn is being done purposefully.
  4. Peace Warrior says:
    RonOld RayGun

    Crackie the Wonder President

    These are the 2 scum that wiped out our economy for the benefit of their wealthy friends

    Obama is an asshole for giving billions to the rich and stealing from the working class….just like yer boys did

  5. ImpeachObama says:
    I guess Hussein Obama thinks the more money he spends in 4 years, he will get a prize.
  6. Romare says:
    Let’s see: he graduated from Harvard Law School, is brilliant, taught constitutional law, has years of political experience, is widely read, has widely respected economists as his advisors and is the leader of the free world. You are a person posting ridiculous questions on a silly website.

    Should I trust him with the economy or you?

  7. Liberals are Fascist-Socialists says:
    Obama wants bankruptcy…..then he can step in and save the day. He creates the problem and blames it on Bush then uses the crisis to push his socialist agenda.

    Obama is a fraud…a liar….a marxist moron….a domestic terrorist. Now, would you like to know how I really feel?

  8. Ryan says:
    Actually, you don’t understand economics. The federal government doesn’t go bankrupt. Its a figure of speech at best.

    “Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors.”

    Factually, the US debt is primarily held in the form of US Treasury Bills, whose value is in dollars, which is a fiat currency backed by the full faith of the US government….

    Notice the circular issue here. In essence, and this is the dirty little secret of macroeconomics on a nation level – the US owes what it says it owes because the actions of the US determines how much the dollar is worth!

    Fact is, the Chinese hold a ton of these T-Bills along with mega international institutions. Actually, most T-Bills are held by mega corporations and very few actually are in the hands of average Americas, most of whom are actually debtors in some sense or another – school loans, mortgages, credit cards, etc. Very few American own more than they owe – particularly outside of hard assets.

    So what happens is that as we run deficits, inflation goes up – meaning the value of the dollar versus foreign currencies declines, and the value of T-bills goes down.

    So as long as we have moderate, none run-away inflation, we’ll benefit because suddenly manufacturing jobs will come back to the US as it becomes cheaper to make things here – and the economy comes roaring back. The key to the stimulus, was putting a bunch of money into infrastructure prior to inflation kicking in – which is why the Chinese and megabanks are bitching and complaining about our deficit, because they will get the short end of the stick.

  9. Alex says:
    The government borrowed and spent billions on World War II. The government used this borrowed money to pay the salaries of 15 million soldiers (government employees) and to buy thousands of tanks, planes, ships, etc. (government stimulus of the economy). All that spending got us out of the Great Depression, and in the 1950s we had the best economy in our nation’s history.
  10. The Patriot says:
    Yes.

    First of all, Obama is not going to bring in universal healthcare. He wants to make insurance more available to all.

    Second, of course universal health-cover sucks. That is why we in Western Europe have it. We think, hmm, our healthcare system sucks. I know, lets keep it. I guess that is the same with Japan and Canada as well.

    FACT – the USA spends more on healthcare PER PERSON than any other nation on the planet.

    FACT – the US has higher death rates for kids aged under five than western European countries with universal health coverage.

    That means that a dead American four year old would have had a better chance of life if they were born in Canada, France, Cuba, Germany, Japan etc, all of which have universal health coverage.

    Unless the system is changed costs will increase.

  11. mae says:
    Obviously not.
  12. Big One 0909 says:
    He understands them well enough to know exactly how to dismantle it in less than one year.

    He is NOT trying to fix it, he is trying to destroy it so you will beg for his Marxist Socialism.

  13. Edg1 says:
    Clearly not. He is doing the opposite of what we need to do every time. When we need to be tightening our belts he is flying all over the place and ordering Pizza from distant locations.
  14. Cat - astrophe says:
    Obama understands one thing – and one thing only – he must obey the orders of his globalist backers. If that results in insane policies and the destruction of our economic system, well, so be it. They have an agenda and Obama is just their puppet.
  15. Glassy 3 footers says:
    I’m completely in shock myself too (and most of the rest of the dems in congress are just as culpable)…I really am struck with only two possibilities: 1.) he really hasn’t the slightest idea in the world what macro economics is all about, 2.) he’s just a leninist who doesn’t care, all he wants to do is to socialize america.
  16. gilliegrrrl says:
    Your question is evidence that YOU are the one who doesn’t understand the economy. First, it wasn’t President Obama who got us into this mess-it was the free-market worshipping deregulating greedy a-holes who ran the government and Wall Street for the last 25 years. These things don’t happen overnight, and in fact GWB managed to squander a budget surplus and change us into the biggest debtor nation the world has ever known in just eight short years.
    Second, over time a national health care plan will SAVE money by making primary care available to all which will in turn dramatically reduce the need for specialty and acute care. It’s a no-brainer.
  17. older says:
    i used to think he was just uninformed but i now believe he is running us over a cliff on purpose
  18. sparky says:
    Ryan your answer is about 20% correct at best. The answer is the Obama is a dangerous spender. Fiat money only has a perception of value without any gold standard. There will certainly be massive inflation in the near future with the current rate of spending. Basic Economics. Read the book “The Creature from Jekyll Island” and you will get a better grasp on the string pullers. You can not borrow yourself out of debt. Impossible . Ask all of the people who lived beyond their means by second mortgage loans over the last five years. We will all be sorry if spending is not curtailed fast.
  19. bvw says:
    There are only two honest theories extant in regard to Obama’s economic understandings.

    ONE: He is an economic ignoramus, a total doofus in handling money. In support of that theory we have the following facts: No record that he ever studied economics in all the many schools he attended. He never ran a business. The fifty million dollar multi-year Annenberg Challenge program to help Chicago schools which he ran was a dismal failure, concentrating on Juneteenth Celebrations and rejecting middle-school algebra programs. He choices for cabinet and high level administration posts include a number of notorious tax cheats who all claimed ignorance of the tax code and basic tax accounting principles.

    TWO: He is an economic genius intent on destroying the US and Western economies, despotically reducing them to Zimbabwe levels, where a few black families own all the wealth, all others are poor, and any once-rich or well-off white families are decimated by a combination of trumped up criminal charges, fines, jail, seizure of all assets, and made untouchable outcasts by social scorn..

    The evidence for this is that Obama attended Ivy League Columbia, and then attended Harvard Law and was president of Law Review — thus some claim him to be genius. That OBAMA is evil, and bent on destroying the US economy is indicated by his stated love for Marxism, and a consistent pattern in his “social justice” comments throughout his recorded political career, including his strange revolutionary-ideal forced wealth redistribution comments to Joe The Plumber when they first met. Also it is suggested by his support for his Dad’s brother violent and corrupt Odinga’s Marxist-tribal style of politics. Mao-mao-ism.

    Which is true? Both, in parts. Obama is truly an economic doofus on basic economic issues, yet he has a streak of idiot savantism in his intuitive genius evil ability to choose just those strategies and actions most effective, potent and quick at destroying the US and World economy.

  20. Monkin says:
    Its quite apparent that 0bama does not, the real question is however; is 0bama deliberately trying to turn the United States into a third world country? The reason I ask this question is simply because all indications are that, that’s where the country is headed under 0bama’s lack of leadership or is the destruction of the country where he is delibretly taking the country?
  21. Pro Con says:
    Barry is a lawyer. Reagan was an economist. It’s true. That’s what his degree was in.

    Lawyers know how to cream people for the maximum amount of money possible, but that doesn’t equate to an understanding of economics.

  22. skcushsub says:
    0bama understands basic economics infinitely better then Bush. The main mistakes, was Bush bailing the banks out. Obama’s dealing with damage control that began as far back as the Reagan Administration. Reagan was, in no way, an economist. we are actually now paying for his financial deregulations. .
  23. danrathersatitagain says:
    He’s figured out how to wreck it.
  24. Amy says:
    Better than on war like your friend Bush did.
  25. obamasbro says:
    yes he does.he is a marxist progressive with an agenda to destroy capitalism.this is another dreamer that thinks he can do better in spite of the last 1000 years of failed attempts at the same silly sh*i*t ! the damage that his dream will cause is beyond scary.

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