GDP Blame Game
Jan 30, 2013|
The Obama Administration today blamed the surprise economic contraction squarely at the feet of congressional Republicans saying economic threats during the "fiscal cliff" negotiations had prevented important defense spending. Howie was amazed that the democrats could still say was Bush' fault.
Transcript - will not be 100% accurate
Okay now we have about Rick's the they. There were some critics actively bad news today in the economy again unexpectedly. They. Who wouldn't expect this mean this is some more stuff that. The GDP shows surprise. For the US in the fourth quarter. The US economy posted a stunning. A stunning. Drop of upshot. And shot misses the EP. Part of the part of the regime's media. That's the semi official. New service of the of the regime. The US economy posted a stunning drop zero point 1% in the fourth quarter defying expectations for slow growth. And possibly providing incentive for more Federal Reserve stimulus. That means printing more money. The Commerce Department said Wednesday the economy contracted at an annual rate of zero point 1% in the fourth quarter that's Cecil sharp slowdown from the three point 1% growth rate in the July September quarter. The surprise -- contraction could raise fears about the economy's ability to handle tax increases. -- State's massive tax increases are surprised tax increases. That took affected in in January and looming spending cuts. The economy may stay weak at the start of the year because Americans are coming to grips with the increase in Social Security taxes that many of them went. Less take home -- sub sub par open is held back at hiring the economy is created about a 150000. Jobs a month. On average for the past two years that's barely enough to reduce the unemployment rate it's not enough to reduce the unemployment rate if they weren't. Suddenly making hundreds of thousands of people who vote allegedly given up on looking for jobs vanish from the work from the -- the workforce. That's the only way they've been reducing the unemployment rate. All right so anyway. -- -- -- One of the guys who I don't know how he stays on and CNBC I mean which is Tuesday which is just a complete -- drinking. Outfit for the Obama administration. Again he's in Chicago maybe that gives them some kind of proper protection you know I don't see him every day. But he's out there on the Chicago board of trade and and again gets into it in the eighty he points out the the undeniable truth. Here. Hey Joseph I don't get a word when you add like European growth rates like Europe but our discussion what economists sounds like court -- era. Don't you think of the same discussions yeah. We know you're right they government. Better and that's the kind of how we become. Frederick Britain which none of that's not your coaching yet. Sensitivities in Europe all the -- are you need to redo. Right during a recession because we weren't trillion dollar deficits and -- it out loud. I talked to people and and that they they say that the moon bats are still getting over. The fact that their pace has on now. In the group they they don't blame the DO leader ago of course they they still blame George Bush they blame George Bush for what's happening. That the economy is just it's still. In the doldrums and and that's that's putting it kindly. White house Press Secretary Jay Carney led them lately the blame for surprise economic contractions squarely at the foot of congressional Republicans Wednesday all what does the rise. What a surprise. It would it but it only congressional Republicans what about George Bush. Saying economic threats during the fiscal -- negotiation to prevent an important defense. Well. 187746943221877469. No 18774694322. We're gonna talk all I -- here at the -- do you wanna hear from people who was who then who was there is talk to moon bats about what's been going on in their paychecks going down and about how there were and about how. Nothing is really improving and and whose fault is it that the that the key here that the even here. Or or they just planning to walk to go go on non. Goal on the other roles like like so many millions of other people. On on last last few years apart from somebody today runs the company and the the company has as decided that it to deal with Obama cares you know leave the it the the hours that the fifty plus hours to decide who's gonna how many people have to get there's the obamacare insurance eventually going to a fact. Until next year but they're gonna keep looking hours starting this year so they could CF five C if any of these evil capitalist. Entities. Have have decided to walk cut back employment a year early so of course many many companies -- do you view him when he many companies many many nonprofits it would -- this before worthy yet. The colleges many of these colleges that are inhabited by real -- that people want for their Ph.D.s. Professors of women's. W goal in Hawaii in apostrophe -- to studies professors of queer studies. Professors of law art history all these crazy. So called disappointments urged that should be call -- supports. There there were all like getting -- laid off because that they're getting laid off there in -- cutbacks colleges don't have to play. And this guy today said his company is is cut back every part time -- -- hours. 28 -- somehow that's become I mean. They say that the hours just kept -- the only have to add up to 35 and and the gap to 35 and you created one full time employees in your on the hawk. Under Obama care for you know providing. Insurance but apparently these BBDO warriors of the counts at this company figured out that they keep. We keep the pace at but the ceiling at 28 hours bacon bacon reduce their era -- jeopardy. And so this crisis you know he's easiest rapists you liberals were -- form basis. He likes to write up these memos please read via the -- above memo due to the changes brought on by the Affordable. Care Act a -- be you know call you know if you wanna be down on the medal you know call Obama here. That's practically attack dog whistle that's practically racist so you use their own name. For the because of changes in the be brought on by the Affordable. Care Act wouldn't have to cut you or worse. So another not only are you were not only take -- at 2% pay cut on the number of hours. On the on them on the money that you make in the reduced number of hours that your work and you're all so. Getting the or ports. Isn't this great. Isn't this isn't this this is just the way it was supposed debate. You know this is it's it's -- socialism is wonderful is that they're talking about the North Korea. You know where you take socialism to its logical extreme they're talking about people are now beginning to eat their children they got a guy guys who dug up the as a he is a dead I agree and son sparked the depth and so he'd he'd dug up the body an -- the body. This is you know obviously the socialism is it it it's such a successful way to watch. Two way increase wealth and productivity and in population and where we're going that's the way we're going we. Why should we go what does the system that's created more wealth and prosperity and freedom and any others any other system of government and world history. Let's let's let's go back ports. Let's not try to let the government take over everything and see how the government that the governments and -- -- such a bang up job on. And you name you whatever the government does you name 18774694322. -- bats don't work -- don't see a pay cut honestly work and you work wearing sandals and a pony. 1877. -- -- -- predict this August during the debate more manufacturing going overseas defense cut shrinking the DB DB the GB. The GDP excuse me. And my liberal friends said forensic taxes went up on middle class because Tea Party held Obama over a barrel went over the bully that even means. It means nothing is what it means you and obviously column on to say what the hell you're talking about. Jim you're next with how we cargo ahead -- -- -- -- Well it would expect what that. I'm excited and it will. It was so unexpected that it was stunning. Now I think so I think in the before when the campaign was going on you could use stunning but now there's -- now there's a little more freedom it's you know you might call it the eight piece boring you know. But I thought -- thought that out on the part because I knew portrayed as couple places are using some are getting. That it might expect. Surprising hole K I guess. I guess surprising is kind of like somewhere between unexpected and stunning. Yeah well this parody hey you know. How -- are picking up new words but how these people don't just. I think people get even talk about the people I -- the liberal I don't nobody really talks about it anymore the economy attack to bring about and -- I think all bad luck because really people they've checked out there talking about it. Yeah I I got a call I got an email -- a couple of days ago from Chris Greeley -- the Bangor area in the end but you know he's he's a former state -- he's a copy actually was talking to this guy. The guys vote for Obama twice he owns a business and I would like to expand she's got a good guy he's got a good business going. But he can't expand because he's gonna go over the fifty of the fifty worker mark and once he goes over to fifty worker -- stuck with pain in the debate in all of this insurance. And that would just the crushes business and so -- Chris Greeley was my friend than an analyst percent. Said well song I guess -- had a chance of mobile third time you wouldn't vote or because you screw it up your business leaders -- all know I'd still vote form. I mean how how do you explain that. The guy is the guy is its growing up this guy this businessman's life he's going up the lives of the bid the people the businessman employees. And he still votes war. I mean this is a white guilt is that what it is I don't I mean how many times you have to vote for a for incompetent black guy before you're a white guilt is expunge it. I don't I don't get it thanks for the call Jim but I I think there's a lot to that. And how that that did that there's a there was it was a -- back they was talking about you know what the news the news you know the news -- so Graham the real news so and you go over to TMZ and it's something about Lindsay Lohan have a date in court. Today mean -- that that was like the big story and does she you know she had -- was haven't panicked as she tried to get on the last flight talent out of New York the audio overnight flight. Just it's like this. People people wanna put on blinders not even think about how bad the situation is frank you're next with powered car -- have frank. While I was gonna ask you about the -- is over verdict forms that drill. And bad or what the hell they're talking about what does this. Aero sport electric aren't seeing the money over to the bureau. Almighty I asked that this is the first I've heard of it you heard about this Andy. Now I'm -- desist today's the first time now I don't know I know about the trillion you know about the trillion dollar point right. Break. I guess frank ran out to -- find a trillion dollar coin on the street thanks thanks for call one of the Merrill. I I I know I there's this there's certain phrases and words that I don't use anymore and one of the one of the sentences they don't use anymore I don't believe it. And that can't be true I mean they could be maybe they wanted to marrow. Only when to be more appropriate to just call the call to abolish the peso. And just say you know we're we really were being that we've been taken over Mexico they call. There's still more there's still more America -- -- the armed Mexicans but they they apparently have moron clout and they have more rights than that American citizens so. We're just so we went activist we're gonna talk about. Dollars anymore -- pesos Gary you're next with Howie -- go ahead Gary. Hey how are we talking about people -- and -- this 2%. -- -- you know I have a small business -- about WP a strike is sitcom and deliver and bill Ross scream it about this 2% cut from the candidates. And you know -- as much as we did that we have yet the union album you know Democrat Democrat and not been helpful. -- Why do you ever ask him Gary. Did you ever pay attention to anything during the campaign did did you ever keep up on any of the issues because this wasn't exactly like a big secret. Gary Gary's gone 18774694322. On our car. 1877469322. You -- conspiracy. Mrs. from -- treating thought about dot com. -- -- one idea was suggested by a professor of economics at the Frazier institute. Never heard of it called Herbert global never heard him. Agreeable spirit was that a combined currency of the three nations -- increase trade through reduced complications for transactions to reduce complications would be no worry about currency trend the trend exchange rates between the three countries. US Mexico and Canada. The biggest drawback is it would it would restrict the US on monetary policy interest rates and money printing would now be more under the control three countries were one. You know I hate to say it but would -- be any worse with Mexico control and having -- 13 -- I mean would be any different. I mean again the -- print more ballot now that just print more money that's all that's because the -- And then the economy will not -- respond. In a positive way in there will be another. Knicks. Did decline in the GDP in the print more money. Is the him -- real the -- -- of the Merrill was absolutely real however the rumors of the Merrill taking over the -- The US dollar balloon the and the peso or premature. That separates. There's no evidence that they were there with there will be a North American union with the new currency called. Vehemently. But will be North American unit got called unit they'll just call it the greater Mexico greater Mexico. Just ship all the money shall we will will be electric colony of Mexico ever -- -- will work to -- provide -- provide goods and services for a all the people in Mexico. 187746943221877. Come on H I want your thoughts on Jackie Jackie heart going lobbyist -- positions open at W war -- for him. You know what we asked him to come on the show yesterday to -- he he he's come on in the past we've been talking about doing away with -- only holidays which are. Disproportionately. Enjoyed by residents of South Boston. And those holidays would be evacuation day like -- east Saint Patrick's Day war in war. -- held it which is playing in June 19. Named after a name's -- after he -- the battle was Smart bomb in which the American troops were. Forced from the hill so was. Tactical loss. And he calls and -- defensive and I wanted to ask him a fun now -- was going into the dreaded private sector whether he was planning to give the secretary. Bunker holding off an evacuation day but when the phone didn't ring we knew what was Jackie Jackie. 18774694322. Can use it on myself on and everything. You know I -- that we you know when he came when he called an uninvited I mean we put it right on the year that. You know I would wanna come on like to congratulate him and tell him that. You like to get a few tips for surviving in the dreaded private sector you know. Mean like he you know was this so things that he EP being from being from the state house from South Boston probably doesn't know. Him -- in the province now. Mean people are expected to go to work most days for instance. Billiard -- with how we cargo ahead bill. -- out there -- To root against coaching he would do all sorts discussed about this. I ordered by the -- out. Well -- You want it to I would blow -- on the fourth I -- We. Yeah he -- we put we play the thing to of people haven't heard that I can't believe that the newspapers haven't picked up on the possible. -- the -- possible PSA you know. He's. I didn't think he was gonna run again now I'm pretty sure he's gonna run again coupon in the apostle PSA for mom mumbled. How come how come everybody -- pick in this bill. -- -- -- that it's the system problems you are the blue votes shall not. Well how the people watching your basic genetic applaud the way though I -- And it happened before portal with what actually just what do know I need it's it's it's it's going to be certain orbit at the bit it bit. Always important but that the. -- the only difference bill is that is in the seventies the media even though was pro Democrat. They would report on the -- malaise and them in the misery index these people aren't these people are gonna ignore. They're gonna they're going to pretend that the biggest problem facing the United States is is the Boy Scouts letting gays I mean it's everything is gonna be a distraction now. Well quite -- -- -- I'll ever do what the cure don't we got what sort of -- how -- gonna try to put late double problem. I base that Jay Carney had the each with a straight face today that it's a republicans' fault that the economy is and they keep saying -- themselves. The war according to get this guy reelected what -- You don't actually get people bats finally convinced that because onto the floor would. -- why -- they have to call. Odd to point to weak auto -- not about legislate they finally got that figure out this type that although there. And -- in the thing is -- I mean the beat the tragic thing about the gasoline situation you know the price of gasoline and keep going up. And in the seventies we were dependent on. On the mideast and imported oil out now with the improvements in fracking we don't have to be -- we could have all of our own energy. We can't we can have a gas probably down -- 150 a gallon again we could be importing it all these countries that are but have us over -- -- so to speak in more ways than one. And yet and yet Barack Obama would if he had his druthers -- much -- you can get it. But he would love to shot down fracking. It's amazing I mean the he -- he stands for war history. And he goes in he's a big liberal. And all these people who consider themselves part of the reality based community there are all in favor of him it's like that that they think they're not going to be affected when the economy goes off the collapse. Thanks for the call bill one except. And 74694322. -- -- -- -- man. And. Nothing gets me down catch up pretty awful -- Xerox all ride my bike. DiMarco well yeah. -- -- -- Probably. Become a -- rally villains they're pretty important Parnell even all of them. I hope. You know I just its downtown. That it did. -- -- There's -- Boston is okay. Take our foreign hole this beautiful. David your next without what cardinal -- David. -- -- -- You know I'm glad you. -- -- Adam marrow scam that people have been trying to. You know rant and -- and about some phony deal like that for years and it's it is this scam. There is 11 not concept though that's being ignored in all of this yeah and that's that America's reputation. Is really ruined. -- bad economics. And I don't know you're familiar with the I am now but for years. Basically since World War II. The US dollar was tagged as the official currency of the world -- and so if you wanted to travel to -- answer China or. We're quickly run out of time that I didn't -- your point well you have day you have to use the US dollars the basis for any person. -- will put bush ruined our reputation. And has ruined that value of the US dollar. I I think we have I think we have people of them more damage than bush now -- point.