Historically the Labor Day weekend marks the beginning of 'campaign season' in earnest during Presidential and midterm elections. The Democrats begin this season 12 points behind.
For the past month pollsters have noted that this is the first time in history that Republicans have so dominated the polls. Pollster Scott Rasmussen, who surveys likely voters only rather than everyone, indicates today that not only do Republicans have a 12-point lead in generic ballot surveys, but the country as a whole has turned solidly against the Obama plan for America.
Only 31% favor a second stimulus plan for the economy, while 55% oppose. And, in a telling indicator of the mood of the country, only 29% of Americans believe the country is headed in the right direction.
The result of this bad news for Obama and the Democrats is that the White House is reportedly in panic mode concerning the November midterm elections. Across the country Democrats are abandoning ship, running from their voting record, and attempting to distance themselves from Obama.
Democrats will not even as much as hint that they voted in favor of ObamaCare, the trillion-dollar 'stimulus package' that stimulated nothing but more gloom, or the second TARP bailout of Wall Street after Obama was elected.
It is to be noted that Barack Obama was a strong, vocal supporter of the first bailout of Wall Street, as proposed during the waning days of the Bush Administration.
And when Obama defiantly rolled out his plan for a $50 billion dollar new 'stiumulus bill' on the campaign trail yesterday, Democrats immediately sought to downplay the proposal.
These various factors indicate that Americans have pretty much made up their minds that the Obama plan for America must be repudiated in November, and then scaled back. 56% support the repeal of ObamaCare.
What, then, should be done to address the enormous problems facing Americans at this juncture in our history?
A brief lesson from the early 1920s directly applies. Presidents Warren G. Harding and Calvin Coolidge stopped a crippling Depression in 1920 within a year by a combination of reducing tax rates, implementing massive tax cuts, and making deep reductions in federal spending.
Within a year the Depression was over, and the roaring 20s ensued.
It is a bad omen for America that this Administration and this Congress are taking us in exactly the opposite direction from the proven success of the Harding-Coolidge plan.
Be sure to catch my blog at The Liberty Sphere.
Comments
For reasons too numerous to list, the 1920s crisis is nowhere near relevant to today's situation. You need to study your economic history.
wonder why the progressive movement feels a need to lie like this?
Lie? Nope. The recession of the early 1920s was nothing like our current situation...in cause, symptom or remedy. If you think otherwise, you only need to read up on what happened then and why the actions taken by Harding were quite appropriate. You should quickly see that taking those same actions today would be a total disaster.
you must be a kool aid drinker if you think that
I am assuming that you are not a well known economist. If you cannot see any correlation between the various conditions that caused the Great Depression, then you need to read further.
What an odd response. There's no kool-aid here...just informed economic history. On the other hand, if you'd care to fill us in on the ways that the recession of the early 1920s was similar to today's situation, I'd love to hear it.
ignorant of history too i see--the thing that led to the depression of 1920 is the same thing that led to ours--expansion of govt, federal spending, higher taxes, increasing tax rates, huge deficits
progressive movement caused it
and the cure is the same
that is what you ppl are afraid of
Oh, go ahead and list them. Then we will all critique you.
Sorry, dude, but you're way out of your league here. You can't trust everything on Wikipedia, but this is pretty decent as a basic primer...
http://en.wikipedia.org/wiki/Depression_of_1920%E2%80%9321
Even children in elementary school are taught not to believe Wikepedia. It is like Obama- just make it up.
At this point, I have to seriously doubt the sanity of any individual who votes democrat. Keep up the good fight, Anthony.
Wow, didn't I say that? As I said, you can't believe everything on there, but that article is a decent primer. You can get more details at other sources, but the point is that your understanding of the 1920 depression is way off. Don't be afraid of learning something...it won't hurt.
Yes sir, the democrats are way behind in the polls...so, if you are a republican, you are just wasting your time going to vote since it's one more vote on top of a landslide.
That was cute, Walrus. Diminish the turnout by telling us to be overconfident and stay home.
Does anyone wonder why people talk to BO like a dog when he names his own dog after himself?
Years ago, teachers taught that when people stopped buying cars because they already had them, the Depression was caused. Later , they discussed The Smoot Hawley tariff, the gold standard, international debt etc. However, their main attack was against capitalism. There was widespread belief that capitalism caused secular stagnation. They expected another Depression after WW11.
The Depression did not return. Milton Friedman, the greatest free mkt economist,said that the problem was that the Federal Reserve allowed the money supply to shrinkby 1/3 between 1929-33. He said that the decline cause the economic crisis cont.
The problem is that if that if the GDP falls to quickly, it can lead to deflation- falling prices and falling output. The faster the prices adjust, the faster the economy will turn around.
Another problem is that Feds can't expand money supply by cutting interest rates because that would make it so that banks would not lend money.
Perhaps, if the government had done something to to actually stimulate the economy, things may have improved.
Seems to me that we are reliving that period of time. Perhaps if the stimulus money was spent to create jobs and not to pay back unions and supporters, we could prevent what happened in 1929.
can someone just go ahead and delete all posts with "kool aid drinkers" and 800 pound gorilla in the room"?...these posts are being posted by escaped monkeys that are mimicking humans...someone made the mistake of leaving the radio station on the Limbaugh show near the monkey cages...now they are posting "kool aid drinkers" and "800 pound gorilla in the room" over and over again without knowing what they are typing...again, they are just trying to mimic what they see humans do....until someone can delete these posts, please ignore them....we will try to make sure these monkeys don't accidently hear the Limbaugh show again...it just lowers their IQ and instills selfish behavior among them.
We know kook-aid drinkers when we see them.
You are one of them.
someone catch that monkey!!! He just posted again!
If Walrus never listens to Limbaugh, how can he bash him?
I watch Limbaugh on Jon Stewart's Daily Show...Limbaugh's funny...he likes to make people think he is stupid and selfish...nobody could be that stupid and that selfish, so he must be a good actor.
You get your news from John Stewart's show! I know who you voted for.
You Don't?? I know who YOU voted for.(Wink Wink Drill, Baby Drill! I can see Russia from my backyard. I read all of them! That's a gotcha question! I'm quiting for your own good!)
John Stewart reported incorrectly. There was the guy with the big ears and the old guy. The wink lady was running against the guy with the hair plugs and his foot in his mouth.
I'm still waiting for the person who has so many details about the causes of the Great Depression that he can't list them all. The first 5 will do.
Who said anything about the Great Depression? Didn't Anthony say that the thing to do was what Harding did to address the 1920-1921 recession? Catch up.
it was a depression in 1920, not a recession
but it was not the great depression of the 1930s--2 different things
Was 1920 a Depression? http://www.youtube.com/watch?v=czcUmnsprQI
The whole point is that whatever you call 1920, it was over in a year. They did the total opposite of Obozo. This bad economy will drag on until we have another Depression. Have you noticed that things are really bad out there? Obozo is digging us deeper into debt- no work, losing homes.
I'm always amazed that so many people are cowards; they won't use their real names and not even nom de plumes....which I also don't like, but they're not nearly as bad as the ubiquitous 'Anonymous'.
You want to say something, man up or woman up and get a spine; otherwise, your words are without merit or worth.
Cheers.
He guys give me a break it is hard for a community organizer to pick up all this economic stuff when all I ever did was shake down other people for money. As for international stuff, I went to a Chinese restaurant a couple of times. I know I am over spending, but I will get my senate pension and the presidential pension so I really don't care about you little people and Michelle really could not care less as long as she gets her vacations. This is fun to use my own name.
Barry give me a call in the morning I got some hot deals working with the F.T.C. and our boys over at Goldman Sachs have a new plan.
I don't care if Barack spends your money even if it does cause a Depression. I need dancing lessons, lots of vacations, servants, fine wine and champagne. I certainly am a fashionista so I need new outfits everyday. I will go down in history, too.
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