Steve Forbes today on CNBC was literally giddy over Obama

[howaboutme]

I caught a bit of CNBC early this AM and Steve Forbes was on as a guest host. Steve Forbes's beliefs are the epitome of trickle down economics where the serfs should be required to work for nothing for 70 years and the idle rich should pay no taxes (income or estate). He was literally giddy over Obama this AM. Forbes said (to paraphrase), that the Republicans came out of this battle overwhelmingly victorious. He said he has new found respect for Obama.

There is a term called "pivot man in a circle jerk" which I believe has significant relevance here in relation to the Obama, Geithner and the tax cut negotiations? Hell Geithner doesn't pay taxes anyway

Go figure how this came about: Dem President + Dem Senate + Dem House = big R victory for the rich. Actually it means that Dem or Repub doesn't mean squat when the rubber hits the road. It isn't what is said by Congress or the POTUS that counts, it's who scores the TD, and the rich scored big time.

If you ever wish to experience how the NY money people walk, talk and think, all you need to do is watch CNBC for a couple of hours on CNBC Squawk Box in the early AM. The greed and their obsession with wealth, money, power, arrogance toward the masses spills forth unfettered and unabashed.

[BeyondGeography]

1. He did nothing to make them uncomfortable

Then gave them pretty much everything they wanted.

So of course they're happy.

[FrenchieCat]

2. What did they get that they wanted?

[BeyondGeography]

4. Total validation of their tax cuts as a driver of growth philosophy

More debt so they can starve the beast next year when they control the House.

And a President who kept the room temperature nice and cozy for them.

[FrenchieCat]

6. The issue at hand were the tax cuts........

and in fact, if the Democrats in Congress have the Spine y'all pine for
and destroy the compromise he made, you will have to pay out of your pocket....

and when you do, make sure to smile about it!

TheWraith (1000+ posts) Tue Dec-07-10 06:48 PM
Original message
Ezra Klein said it well: $130 billion for the rich versus $600 billion for working people.
He pointed out tonight on Countdown, pouring cold water on Keith's anti-tax-deal fervor, that in exchange for the $130 billion that the rich will get over the next two years by extending the rates, we'll get $150 billion in unemployment extensions, $120 billion in payroll tax deductions for working people--which, as he pointed out, is a strong progressive taxation measure, despite what some people will say--as well as extensions of child tax credits, college tuition credits, earned income credits, etcetera which total up to another $320 billion in the hands of working people who need it.

He also pointed out that while the Republicans think they'll be in a good position to re-fight this battle in two years, the opposite is likely to be true, since the economy will have improved, and deficit reduction will be more important to the public by then, making tax cuts for millionaires unpopular.

In short, far from caving in, the Republicans surrendered a hell of a lot in order to get one thing for their constituency.
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=9718981&mesg_id=9718981

[howaboutme]

9. Democrats should take the fiscal lead

instead of continuing to play a no win defensive role leading to higher deficits that will most definitely come back to bite them (us).

They should let the tax cuts expire stating that we must begin the process of reigning in the debt; we need to start paying the costs of the war; and the rich should pay their share. Such a move would immediately take away the one issue that the GOP has been using against Democrats - the deficit and debt and which they will use again in 2012 when it is worse.

The Federal Reserve by keeping interest rates at almost "0" with its QE, is attempting to weaken the dollar and force the public into the stock market while creating another bond bubble. Tax cut expiration would strengthen the dollar and reverse the rise in energy and food prices.

[martymar64]

10. Hate to break it to you, but the economy will not improve in 2 years or 4 or even 10

The economy is in a death spiral and Obama just put us on the hook to China for more debt.

All that's left is for our imperial machinery (the military) to be dismantled to pay our bills.

[howaboutme]

11. Decline and Fall of the American Empire

Good article

http://www.thenation.com/article/156851/decline-and-fall-american-empire

[martymar64]

12. I've read it already. Terrific article

There was also another great article on how a post-collapse America would look like. Wish I remember where I found it.

[mtnsnake]

3. I wonder what that other asshole, Donald Trump, will say about it

[Mimosa]

5. And some people are laughing at my posts saying Obama is hostage?

Forbes is far right wing. If HE approves of the president something is wrong.

[howaboutme]

7. Don't forget the S. Korean giveaway for Wall Street too

It took me 1 month before I began having some doubts (Geithner and Rahm appointments).

At 12 months out I was fully disappointed. No bonus cuts, heads rolling on Wall Street.

At 23 months and seeing Goldman Sachs fully infiltrate our US Treasury and Fed Reserve and walk away with the gold.....and I'm certain he is not at all what we thought he was. I had a pro Hillary relative try and convince me of that fact for over a year during campaign. But I'm not sure Hillary would be that much different.

What we need is a real street fighter bruiser who would relish getting into a fight with Wall St and big business.

[elizm]

8. You need help.

[RufusTFirefly]

13. Our President is reaching across the aisle!! Don't you get it?!