Gallup reports historic poll margin for GOP in Congress
According to the folks at Gallup, Republicans now hold a 10-point lead over Democrats in what’s called the generic ballot for Congress. (Registered voters are asked whether they would be more likely to vote for a Republican or a Democrat, with no mention of actual candidates.)
Gallup reports that the 10-point lead is the biggest it has ever found for Republicans (Democrats had a 32-point lead in 1974, during the Watergate scandal.) The finding adds to evidence that a GOP takeover of the House is likely this year, although as Gallup also cautions, “Democrats moved ahead in Gallup’s generic ballot for several weeks earlier this summer, showing that change is possible between now and Election Day.”
As I’ve noted earlier, the GOP base has made it clear that it has no interest whatsoever in any sort of compromise, and will in fact punish any of its leaders who suggest otherwise. As a result, I think we’re doomed to two of the most divisive, tumultuous years we’ve seen in American politics in a long, long time. It could make the Clinton/Gingrich years seem tame in comparison.
And come 2012, the American people will be asked to render its verdict on that approach.
Politics, like baseball, is a long game played in half-inning increments. And in this particular frame, the Republicans have the bases loaded and nobody out, with the Dems just hoping to limit the damage until their own turn at bat.
UPDATE: Someone in comments asked for an explanation for the 10-point GOP surge. I responded that people are scared and frustrated, and in their fear and frustration they want government to do something. (The demand to be saved even comes from those — in some cases ESPECIALLY from those — who claim they want government out of the economy).
As I’ve written before, though, government even under President Bush didn’t deserve the lion’s share of the blame for getting us into this mess, and nothing government can do under President Obama can turn it around quickly either. But that doesn’t stop people from wanting what they can’t have.
As supportive evidence, take a look at the Yahoo chart below of the Dow Jones Industrial Average over the last three months. More specifically, look at the timing of the Dow high this summer and compare it to the timing of the Democrats’ highest advantage in the generic ballot. It lends credence to the economic explanation; as the news sunk in about a stalled recovery, the GOP poll performance began to improve considerably.
Tell us what you think about the site
Customer Care »
Vacation stops, manage subscriptions and more
AJC Services
Sections
Other Editions
Visitor Agreement | Privacy Statement
© 2013 The Atlanta Journal-Constitution
586 comments Add your comment
Lee
August 31st, 2010
12:51 pm
JT you are right on!
jt
August 31st, 2010
12:51 pm
People don’t start wars, governments do.
Ronald Reagan
And he didn’t.
stands for decibels
August 31st, 2010
12:52 pm
People don’t start wars, governments do.
Ronald Reagan
And he didn’t.
cough Afghanistan cough
Bruno
August 31st, 2010
12:53 pm
“If you make ‘middle’ bucks, vote against your own economic interests in preparation for the day when you might be making big bucks < seems to be the mantra of the TEA party types."
That seems to be a recurring liberal talking point, Red. A deeper analysis will reveal that the "TEA party types" simply have a better grasp of what makes capitalism succeed. (Hint: capital). Saddling those at the top has never benefited those in the middle or at the bottom.
Jimmy62
August 31st, 2010
12:53 pm
Enjoyed the earlier debate over Keynes. Something those on the left seem to miss- Keynes also said stimulus should be a much smaller percentage of GDP than ours was. But beyond that, results of the stimulus are showing that the supposed multiplier for government stimulus spending is not 1.5 or 2 or whatever Keynes said, but is more like 0.8. In other words, for every dollar the government spends, society gets the benefit of 80 cents. That’s a pretty damn bad investment, and this is the kind of junk that would get a CEO at a private company thrown in jail for fraud.
ByteMe
August 31st, 2010
12:54 pm
jt: Lordy, you’ve reached into the “way-back” machine for that reference!
Kamchak
August 31st, 2010
12:55 pm
they revert to comparing Sir Ronald Reagan.
Arguement[sic] is over.
Your shepherd is showing.
jt
August 31st, 2010
12:55 pm
I’ll stop spamming now. But be aware of the DTD rule.
Progressives got nothing. The current Republican or Democrat parties have nothing. Don’t let them turn you into a federosexual.
To sit back hoping that someday, someway, someone will make things right is to go on feeding the crocodile, hoping he will eat you last–but eat you he will.
Ronald Reagan
getalife
August 31st, 2010
12:55 pm
More bad news.
When they believe known lies, it is time for term limits.
The Leg Lamp is a "major award", much like Cynthia Tucker's Pulitzer and Obama's Nobel
August 31st, 2010
12:56 pm
Jay
August 31st, 2010
12:49 pm
Really Jay? Really? EVERY article I’ve read about this recession/double dip recession says it’s the worst since the depression.
What about the second part of my original comment? Reagan didn’t have two wars going on. Really Jay?
stands for decibels
August 31st, 2010
12:57 pm
Saddling those at the top has never benefited those in the middle or at the bottom.
Well, except for all those countries where it does. You know, Japan, Taiwan, Korea, Yurp, Australia, Canada…
And they all have some kinda “socialized medicine” too. Golly.
Normal
August 31st, 2010
12:58 pm
The Democratic majority led Congress, led by Harry Reid and Nancy Pelosi, has done nothing to cooperate with the other side.
There’s your sign!
——————————
But that does bring a thought. If the GOP wins the House, can the Democrats become the Party of no? IS turn-about fair play?
———————-
My crystal ball says: The Democrats will be “The Party of No Way, GOP”,
which the GOP will ride to the White House. Then, when the economy collapses after all the regulations are removed and the tax cuts resumed, the GOP will blame the prior administration, but will lose the mid terms of 2014, giving the Dems the Control over Congress, which they will ride to the White House in 2016. Then when WWIII starts over a Middle East oil embargo of the West, the Dems will blame the GOP for not regulating stuff. After WW III is over, Adam bash Eve over the head, drag her to his cave and it will start all over again.
retired early
August 31st, 2010
12:58 pm
These polls are the reason the GOP is stalling any legislation that could actually HELP this troubled economy. They want to be back in charge no matter the additional hardship to the unemployed. I find it hard to believe people can’t through that.
TaxPayer
August 31st, 2010
12:58 pm
Clearly, if the government would just eliminate all social programs and give us a tax cut, the Koch brothers will start trickling down on us and all will be good.
mm
August 31st, 2010
12:59 pm
Just imagine if Insane and Failin had been elected. He would still be saying “The economy is sound”. He and the GOP would have done nothing but:
Cut taxes and increase the deficit.
Let the auto industry collapse and destroy 30 percent of our economy.
Let the banks fail and plunge us into a worldwide depression.
Yep, I’m happy with what the Dems have done. The dems and indies that aren’t happy wish the bills they’ve produced would have been more progressive. Only the wingnuts think Obama and the Dems have “socialized” America.
ByteMe
August 31st, 2010
12:59 pm
Jimmy62: you are correct that the multiplier is not as high as Keynes claimed it was… but it might have actually been that high back in his day before our debt approached 100% of GDP, thereby reducing the possible effect of additional deficit spending. Milton Friedman also claimed that velocity of money was essentially a constant… and it was during the nearly 50 years when he did his work. However, near the end of his life, velocity started fluctuating quite a bit, so all that work based on what he observed is now considered wrong.
The multiplier effect has slowed as we’ve increased debt. Is there a correlation between them? There is today. Maybe not tomorrow.
Gordon
August 31st, 2010
12:59 pm
Good column, Jay.
The first party that gets serious about government debt, which means getting serious about entitlement reform, gets my vote. I think both sides underestimate the willingness of the American people to have the truth told to them. We are in big trouble, and we need grownups in charge. If the Republicans believe that simply being against Obama is enough, they are sadly mistaken.
andygrd
August 31st, 2010
1:00 pm
Blame the Republicans!!!! Blame the Democrats!!!! Truth be told.. We should be blaming ourselves….
How many have abdicated their rights to others? How many of you have voted in every election since the time you were eligible to vote? How many of you have taken an interest in the direction of the country?
It is easy to post the crude, rude and ridiculous comments… You will not change the thinking of some Democrats, nor will you change the thinking of some Republicans…. Some of you will find and post negative stories regarding former President Bush, and some of you will find and post negative stories regarding President Obama…. And that is your right to express yourself…..
The Republicans post from the right media outlets and the Democrats will post from the left media outlets. And both sides will argue they are correct…..
You also have Democrats and Republicans that come here just to say things to fire people up… (I have done it).
At the end of the day, this is all crap…. We have not really accomplished anything. If we have meaningful discussions, we just might get somewhere…… Why do I come here,,,, IT’S ENTERTAINMENT”.
The Leg Lamp is a "major award", much like Cynthia Tucker's Pulitzer and Obama's Nobel
August 31st, 2010
1:01 pm
Jay
August 31st, 2010
12:49 pm
Oh yeah, Jay. One last thing. What was the national debt in 82?
Interesting Observation
August 31st, 2010
1:01 pm
Be careful what you wish for. Actually America will not be able to cpmpete with the likes of China if we keep returning to past remedies i.e. tax cuts for the wealthiest Americans as the economic balm. Without government investment in people and government partnerships with businesses to help them comepete China will pull ahead of us while we bicker about partisan crap. Wonder why Michigan has opened 16 battery plants to power electric cars recently. Could that have anything to do with government investing and partnering with business? Why is GM now making profits again and rehiring workers? Does that have anything to do with government rescuing GM and restructuring it? No government does not have all the answers, but as Jay stated people want government to do something. Unfortunately fear, uncertainty and the nay sayers having the biggest megaphone will cause us to retreat in the face of change for a better future. The world has changed. We no longer have the Soviet Union to compete against militarily. Screaming God and Country, beating our chest, and cutting taxes will not do it. We now have China gaining quickly on our ecenomic heels. Today they are number two. Soon they will be number one. Be careful what you wish for.
Bruno
August 31st, 2010
1:02 pm
Ronald Reagan’s finest moment:
http://www.youtube.com/watch?v=xK30k2WTxY0&feature=related
Sill brings a tear to my eye.
Disgusted
August 31st, 2010
1:03 pm
You’ve got to hand it to the Republicans. They botched the economy badly and got thrown out of power. In fact, they botched it so badly that there’s no repairing in two years or even four. As a result, the unhappy public is ready to put them back in charge.
And once they control Congress, they’ll point to Obama as the reason their initiatives aren’t engineering a miraculous turnaround. And the public will buy it.
It’s sheer brilliance, I tell you.
Doggone/GA
August 31st, 2010
1:04 pm
“Thank you, Doggone. As I told @@ below, I do try.”
Ok, but in the context of my remark about excuses…I refer you to the dictionary to see the difference between excuses and REASONS.
You got all the EXCUSES right…but gave no real REASONS.
TaxPayer
August 31st, 2010
1:04 pm
We do need serious entitlement reform. After all, who says we’re entitled to just start wars with whomever an evangelical happens to be scared of. Ma Gog, Man.
Mike8
August 31st, 2010
1:04 pm
Finn McCool at 12:33 PM.
Fantastic! And I’m a Christian.
JohnnyReb
August 31st, 2010
1:05 pm
Jay, don’t know where you got the Liberal indoctrination, but you have a real deep dose of it. Poster child. Liberals/you continuously spout the answer to our problems is government, yet when we have a mess like this, especially when the Dems are in control, you state – “–government even under President Bush didn’t deserve the lion’s share of the blame for getting us into this mess, and nothing government can do under President Obama can turn it around quickly either.” I disagree.
Government did cause this mess. What the government did not directly cause, they enabled. Both parties shoulder blame, but the overwhelming blame rests with Democrats. Citizens now see that, thus the data you list where voters are abandoning Democrats like rats from a sinking ship. And, of course, the majority of Americans are rejecting Obama.
Yes, deny it was you will, the root is CRA – a Jimmy Carter bill – government social engineering at its finest. Yes, the Republicans helped it along over the years by not ending or controlling CRA, and Republicans especially screwed up by passing the legislation that allowed the subprime trading.
Deny as you will. Obama owns this; he has not fixed it although he has spent more money in 20 months than Bush did in 8 years.
Joe
August 31st, 2010
1:05 pm
If the Dow is your barometer lets back up to 2000 when it went from 10.000 to 14,000 while Republicans lead Congress. It’s obvious why the Dow is falling since the economy is in a downward spiral under Obama and his socialist policies. When Wall Street knows for sure that Republicans will take the house, senate, and Whitehouse then we will see a serious change….
Bosch
August 31st, 2010
1:06 pm
Gordon,
“which means getting serious about entitlement reform, gets my vote”
That will never happen. If the GOP was really serious about entitlement reform, they’d have done something about it during 2003-2007 — and they wouldn’t have expanded it.
stands for decibels
August 31st, 2010
1:08 pm
So Jay, the Catfood Commission. Are you waiting for Alan Simpson to have another senior moment before covering it?
Gordon
August 31st, 2010
1:09 pm
Bosch,
And the Democrats aren’t serious about it either. They are expanding it. We either need one side to change or have a third party, or entitlement reform will happen the hard way. What we are doing is unsustainable. This isn’t politics, its math.
Dave the Man
August 31st, 2010
1:11 pm
Interesting Observation
August 31st, 2010
1:01 pm
Can you explain why Ford Motor Co. has earned nice profits for 5 consecutive quarters? Ford took no bailout money.
The Leg Lamp is a "major award", much like Cynthia Tucker's Pulitzer and Obama's Nobel
August 31st, 2010
1:13 pm
Dave the Man
August 31st, 2010
1:11 pm
Because of Obama being elected to POTUS.
Bruno
August 31st, 2010
1:14 pm
“You know, Japan, Taiwan, Korea, Yurp, Australia, Canada…”
Here’s a list of “Purchasing Power Parity” for 2009, sfd:
Luxembourg 57,640
Kuwait 53,590
Norway 56,050
Macao SAR, China 52,410
Brunei Darussalam 50,920
Singapore 49,850
United States 46,730
Hong Kong SAR, China 44,070 a
Switzerland 41,830
Netherlands 40,510
Sweden 38,560
Austria 38,550
Australia 38,210
Denmark 37,720
Canada 37,590
United Kingdom 37,360
Germany 36,960
Belgium 36,520
France 35,020
Finland 34,430
Bahrain 33,480 a
Iceland 33,390
Ireland 33,280
Japan 33,280
http://siteresources.worldbank.org/DATASTATISTICS/Resources/GNIPC.pdf
Bosch
August 31st, 2010
1:14 pm
Gordon,
I don’t think the American people want to do anything about entitlements. Once implemented, it is very hard to reel back in. Remember Bush’s magical mystery Social Security tour? Remember how that crashed and burned? Remember all those tea partiers screaming in town hall meetings “you leave the government out of my Medicare?” Okay, that was just one person, but you get the point, surely.
If politicians start taking back entitlements, there will be riots. I think the best approach is a gradual reform like Clinton and Congress initiated back in the mid-90s with welfare.
Larry
August 31st, 2010
1:16 pm
Bosch @ 12:39 – why thank you for your articulate response. It shows your inner sense of superiority so well that I think I’ll just register republican to get your bladder in an uproar. Have a nice day, and why don’t you grab a cup of tea to calm your nerves.
The Leg Lamp is a "major award", much like Cynthia Tucker's Pulitzer and Obama's Nobel
August 31st, 2010
1:17 pm
Bosch
August 31st, 2010
1:14 pm
I tend to agree, but I don’t think Clinton was originally in favor of welfare reform. I believe the “contract with america” election had something to do with it. Bottom line – it will take both parties to succeed.
retired early
August 31st, 2010
1:18 pm
Finn McCool
Great post !!
I get so sick of these so called “christens” claiming the high moral ground when, if truth be told
all religion does is create disharmony in the world.
It’s time non- believers speak out in the name of reason. I mean some of you people believe your are going to survive death? You say you’ll spend the next trillion- gazillion- billion years floating on a cloud in utopia. Buddy, something tells me you just might get a little bored; don’t you think.
GET REAL….. TAKE CARE OF THE ONE THING THAT MATTERS TO ALL OF US …MOTHER EARTH
Bruno
August 31st, 2010
1:19 pm
Later…..
Jay
August 31st, 2010
1:23 pm
JohnnyReb, I have seldom seen a post with a higher error to word ratio than your 1:05.
Let’s just take your last assertion, that Obama “has spent more money in 20 months than Bush did in 8 years.”
In the eight years in which Bush signed budgets, we spent over $20.5 trillion.
In the 20 months Obama has been in office, including the ‘09 stimulus, he has spent close to $4 trillion.
stands for decibels
August 31st, 2010
1:23 pm
Bruno, when/if you’re back, far as I can tell, several of the nations atop this purchasing power list have progressive income taxes, so I’m not sure what point’s being made.
anyway, I gotta leave the time suck as well. Later, all.
Scout
August 31st, 2010
1:27 pm
Headline: “The Oval Office gets a makeover”
http://politicalticker.blogs.cnn.com/
Ah, ……………… not really. That comes in 2012.
Gordon
August 31st, 2010
1:28 pm
Bosch,
Adult leadership would explain to the American people the actuarial position we are in. They would resist blaming one political party or the other for the problem, and instead would focus on realistic solutions. They would provide a long term plan for solvency, and provide as much information as possible for what it would look like and how it would affect different people. They wouldn’t pretend there is an easy way out of this, because there isn’t. Finally, they would explain the consequences of not changing our ways.
If no one steps up to provide adult leadership, or the American people are just too stupid, greedy, or shortsighted to accept any change, then we will suffer severe consequences. It won’t matter whose fault you or I think it was.
Scout
August 31st, 2010
1:31 pm
Obama said “Surge” would worsen Iraq problem …………. Hummmm ………….
http://www.youtube.com/watch?v=P_igpyewuzQ
Larry
August 31st, 2010
1:32 pm
Jay,
By comparison, from the day Mr. Obama took office last year to the end of the current fiscal year, according to the Office of Management and Budget, the debt held by the public will grow by $3.3 trillion. In 20 months, Mr. Obama will add as much debt as Mr. Bush ran up in eight years.
Jay
August 31st, 2010
1:34 pm
Actually, Joe, I suspect the Dems would be quite happy to be judged by the Dow, given that it collapsed under Bush and bottomed out below 7000 in Feb. 2009, shortly after Obama took office, and has since recovered to the 10,000 level, an increase of more than 40 percent.
Scout
August 31st, 2010
1:34 pm
How to turn a pigs ear into a purse:
“The US commander of the Afghan war acknowledged Tuesday that the Taliban were expanding their footprint across the country even as foreign forces close in on their traditional southern strongholds.
But US General David Petraeus said a sharp rise in attacks on international troops showed that the hardline Islamist militia were feeling threatened in their safe havens after almost nine years of war.”
Yep ……….. threatened enough to come out and fight.
jconservative
August 31st, 2010
1:34 pm
The comparison of this election to the Nov 1982 election is eerie.
In the months leading up to the 1982 election the unemployment figures were as follows: 9/82 10.1%, 10/82 10.4%, 11/82 10.8%. Today the figures are: 5/10 9.7%, 6/10 9.5%, 7/10 9.5% with Aug through October pending. And there is no reason today to believe these figures will improve by election day.
And, as Jay points out, Reagan and the Republicans lost control of the House to the Democrats. To gain control of the House the Republicans need to pick up 38 seats. That is a tall order but within reach.
If I had my druthers I would like to see one party control the House with a 218 to 217 margin. That way about 15 to 20 like-minded Dems & Reps could get together and actually run the place. That would make for a fascinating 2 years leading up to 2012.
@@
August 31st, 2010
1:36 pm
Again with the ANGRY, jay?
Angry? No! Frustrated that Obama is not as intelligent as he would have had us all believe? Yes!
To appease his uber lefties, he came out of the chute on the attack against business, as though ALL business was as guilty as the few. Now he wonders why the private sector has responded as they have. Somebody needs to tell Obama, he is not the be all and end all of OUR time.
But that doesn’t stop people from wanting what they can’t have.
Certainly hasn’t stopped Obama and his left-wingers from their attempts to confiscate what I will not surrender willingly. Insist on taking it…..Obama and your precious party will pay for decades to come and whomever follows will know the American people mean business.
JohnnyReb
August 31st, 2010
1:36 pm
JohnnyReb, I have seldom seen a post with a higher error to word ratio than your 1:05.
Jay, maybe, but I bet those errors did not include the part where I state you are a poster child for the Liberals!
I will post the info on the spending as soon as I dig it out. It was from an economist, who does not agree with you.
Scout
August 31st, 2010
1:37 pm
Headline : “Troops yet to give Obama full salute”
Not to mention the recent slights by Gen. McChrystal, the Commandant of the Marine Corps and the Chairman of the Joint Chiefs.
http://www.washingtontimes.com/news/2010/aug/30/troops-yet-to-give-obama-full-salute/
Union
August 31st, 2010
1:37 pm
i have heard.. (rumors) that obama and the dems will attempt to “buy” the peoples vote in november through two methods.. stronger push with the unions and possibly a tax break across the board for everyone through december..
Scout
August 31st, 2010
1:39 pm
@@:
Our Sunday School lesson for this week:
Ecclesiastes 10:2
“The heart of the WISE inclines to the RIGHT,
but the heart of the FOOL to the LEFT.”
Matthew 25:31-33
31″When the Son of Man comes in his glory, and all the angels with him, he will sit on his throne in heavenly glory. 32All the nations will be gathered before him, and he will separate the people one from another as a shepherd separates the sheep from the goats. 33He will put the SHEEP on his RIGHT and the GOATS on his LEFT.
getalife
August 31st, 2010
1:39 pm
Welcome home troops.
Mick
August 31st, 2010
1:39 pm
**If I had my druthers I would like to see one party control the House with a 218 to 217 margin.**
That’s about the most intelligent suggestion I’ve seen today – I agree 100%..
Jay
August 31st, 2010
1:42 pm
Larry, a good chunk of that debt was built into the fiscal 2009 budget that had been signed into law by President Bush and already in effect when Obama took office.
In fact, in January 2009, before Obama even took office, the CBO was projecting the 2009 deficit at $1.2 trillion. It actually came in at $1.4 trillion, which means Obama raised it by $200 billion.
In addition, most of the soaring deficit is NOT caused by increased discretionary spending. It is caused by the collapse of federal revenues in a very deep recession. Federal tax receipts that had been growing by roughly $200 billion a year actually fell by $40 billion in ‘08 and by $400 billion in 2009.
That alone accounts for about half of the deficit.
Mick
August 31st, 2010
1:44 pm
scout
Nice play of the words left and right, however the original bible was in greek, I wonder if you haven’t tried to gain something non existent in the translation. Remember, “he who exalts himself shall be humbled while he who humbles himself shall be exalted”.
Jay @ 1:23 Thanks for clearing that up again and again etc….
The Leg Lamp is a "major award", much like Cynthia Tucker's Pulitzer and Obama's Nobel
August 31st, 2010
1:45 pm
Union
August 31st, 2010
1:37 pm
A “rumor” that the dems will try to strongarm the unions? Dude, that’s status quo.
Jefferson
August 31st, 2010
1:45 pm
Go to Barrett Parkway Friday night, go from resteraunt to resteraunt. Look at the lines, look at the bars. Where the concern for the economy. Look at the box office sales, millions to watch movies each week. 2 worlds out there, those with jobs and income are spending the hell out of money and having a good time. I guess those with out are at home.
Jay
August 31st, 2010
1:46 pm
A little heavy on the melodrama today, @@?
“Certainly hasn’t stopped Obama and his left-wingers from their attempts to confiscate what I will not surrender willingly. Insist on taking it…..Obama and your precious party will pay for decades to come and whomever follows will know the American people mean business.”
Really, what has Obama attempted to “confiscate?” They actually cut taxes by $300 billion in the much-despised stimulus. And ending the Bush tax cuts for the wealthy would merely return the rates to what they were under that noted confiscator, Ronald Reagan.
Kamchak
August 31st, 2010
1:47 pm
If no one steps up to provide adult leadership…
I think you’re placing too much faith in the magical powers of adulthood.
Scout
August 31st, 2010
1:48 pm
Mick:
It’s a joke. Get it ?
Jay
August 31st, 2010
1:48 pm
Let me get this straight, Union.
You’re worried the Dems will enact tax cuts? You think that when Dems do it, they’re “buying votes?”
Please tell, what do you call it when Republicans do it?
Scout
August 31st, 2010
1:50 pm
getalife :
Ah ………….. I think there are 70,000 still there including several COMBAT brigades. All they did was change the name of the units. Instead of being a “combat brigade” they are now a “support brigade”. Smoke and mirrors you know. They are ready to fulfill their combat brigade rolls at a moments notice.
In other words, El Jefe is trying to deceive us. Combat troops are still there.
ThoseWhoServe
August 31st, 2010
1:51 pm
Polls are great. Unfortunately a good pollster can get almost any result they want by careful (and misleading) wording.
It’s a shame that no one really looks at what the Republicans did for American workers and jobs, and the American economy from 1994 when they controlled the House and from 2000 – 2006, when they controlled the House, Senate, and the White House, and the White House for 2007 – January 29, 2009.
1) They supported and voted for ending the Glass-Steagall Act in 1999 which separated commercial banks from investment banks which directly led to the near collapse of the American economy in the summer of 2008.
Most personal IRA plans and 401-k plans lost one third of the value or more in the summer of 2008.
2) Defined benefit pension plans are now only available to approximately 8% of working Americans. Of course all Members of Congress and defined benefit pensions.
3) Millions of good-paying technical, professional, and manufacturing jobs for Americans are permanently gone via off-shoring or replacement by H1-b visa jobs restricted to foreign nationals.
4) House prices doubled between 2002 and late 2007 due to providing millions of new homeowners with sub-prime mortgages with delayed significant increases in monthly payments (utilizing a wide variety of false documents and issuing loans to people who would not be willing or able to pay).
5) The financial services sector that comprises 7% of the Gross Domestic Product (GDP) was scooping up 40% of the profits of the American economy.
6) The total lack of oversight of the financial services sector, combined with refusal to enforce the regulations in place, led to the largest financial collapse since the Great Depression.
7) The country now has tens of millions of homeowners who purchased homes in the 2004 – 2007 period who are upside down in their mortgages, owing far more than the house is worth. This means they have no way to sell their current home or buy a new home, restricting their ability to relocate for a new job.
9) Republicans are proposing delaying the start of full Social Security benefits to age 70 because they don’t want to redeem any of the $2.5 Trillion Dollars of U.S. Treasury securities belonging to the Social Security Trust Fund.
The Republicans have always emphasized the need for fiscal responsibility. Republicans wrote and passed the 2001 and 2003 tax cut bills that were unfunded. Republicans wrote and passed a Medicare Rx prescription plan that was unfunded. Republicans wrote and utilized emergency appropriations that were never included in budgets to pay for the entire cost of running the Iraq and Afghanistan wars.
Most of the funding for these expenditures was simply borrowed from foreign lenders, including Saudi Arabian princes and (communist) China, via the sale of more than $4 Trillion Dollars of U.S. Treasury securities that the Republicans are perfectly willing to redeem.
And now, Republicans propose extending the 2001 and 2003 tax cuts at an estimated cost of $3.1 Trillion Dollars without funding or paying for them. How much more Republican fiscal responsibility cans the American electorate take?
Based on their running commentary from Republicans over the past two years, does anyone think that they would do anything differently if they get control of the House or Senate?
Scout
August 31st, 2010
1:52 pm
P.S. to Mick:
Ecclesiates would have been in Hebrew not Greek ……………..
Kamchak
August 31st, 2010
1:53 pm
Please tell, what do you call it when Republicans do it?
Being fiscally responsible—of course.
Union
August 31st, 2010
1:53 pm
offshore jobs.. squirrel
Retired Nvy Chief
August 31st, 2010
1:57 pm
@ retired early
Glad to see you don’t have any axe to grind. Your attempt to turn a political discussion into one about religion demonstrates your lack of intellectual depth.
JohnnyReb
August 31st, 2010
1:58 pm
Jay, I cannot quickly find the info where the author stated Obama spent more in 20 months than Bush did in 8 years. I had it, even posted it with the authors name on a past blog, but can’t find it now. When I find it, I will post it. I did find the following:
From the Heritage Foundation and Washington Post – President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016. Many Obama defenders claim the numbers do not include spending on Iraq and Afghanistan during the Bush years, but they do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers.
@@
August 31st, 2010
1:58 pm
Really, what has Obama attempted to “confiscate?”
My child and your children’s future. I opposed Bush’s TARP and I oppose(d) the stimulus.
Drama?
Is your cause a lost one? You’ve only to ask and [You]
Will rush to defend [Him] with wit and audacity,
With valor beyond mankind’s normal capacity,
This dreamer whose vigor, whose kindness, whose verity
Are great as his nose–God forgive my temerity!–
Nosey!
ThoseWhoServe
August 31st, 2010
1:59 pm
While pondering poll results, voters should look at what the Republicans did for American workers and jobs, and the American economy from 1994 when they controlled the House and from 2000 – 2006, when they controlled the House, Senate, and the White House, and the White House for 2007 – January 29, 2009.
1) They supported and voted for ending the Glass-Steagall Act in 1999 that separated commercial banks from investment banks which directly led to the near collapse of the American economy in the summer of 2008.
Most personal IRA plans and 401-k plans lost one third of the value or more in the summer of 2008.
2) Defined benefit pension plans are now only available to approximately 8% of working Americans. Of course, all Members of Congress are eligible for a defined benefit pension plan.
3) Millions of good-paying technical, professional, and manufacturing jobs for Americans are permanently gone via off-shoring or replacement by H1-b visa jobs restricted to foreign nationals.
4) House prices doubled between 2002 and late 2007 due to providing millions of new homeowners with sub-prime mortgages with delayed significant increases in monthly payments (utilizing a wide variety of false documents and issuing loans to people who would not be willing or able to pay).
5) The financial services sector that comprises 7% of the Gross Domestic Product (GDP) was scooping up 40% of the profits of the American economy.
6) The total lack of oversight of the financial services sector, combined with refusal to enforce the regulations in place, led to the largest financial collapse since the Great Depression.
7) The country now has tens of millions of homeowners who purchased homes in the 2004 – 2007 period who are upside down in their mortgages, owing far more than the house is worth. This means they have no way to sell their current home or buy a new home, restricting their ability to relocate for a new job.
9) Republicans are proposing delaying the start of full Social Security benefits to age 70 because they don’t want to redeem any of the $2.5 Trillion Dollars of U.S. Treasury securities belonging to the Social Security Trust Fund.
The Republicans have always emphasized the need for fiscal responsibility. Republicans wrote and passed the 2001 and 2003 tax cut bills that were unfunded. Republicans wrote and passed a Medicare Rx prescription plan that was unfunded. Republicans wrote and utilized emergency appropriations that were never included in budgets to pay for the entire cost of running the Iraq and Afghanistan wars.
Most of the funding for these expenditures was simply borrowed from foreign lenders, including Saudi Arabian princes and (communist) China, via the sale of more than $4 Trillion Dollars of U.S. Treasury securities that the Republicans are perfectly willing to redeem.
And now, Republicans propose extending the 2001 and 2003 tax cuts at an estimated cost of $3.1 Trillion Dollars without funding or paying for them. How much more Republican fiscal responsibility cans the American electorate take?
Based on their running commentary in the past two years, does anyone think that they would do anything differently if they get control of the House or Senate?
Jackie
August 31st, 2010
1:59 pm
Current balance sheet information shows major corporations are making record profits and not reinvesting those funds in expanding their business in the USA.
They complain about a business environment that is not friendly, yet, the American worker continues to be the most productive in the world who is used up and thrown away while the business bottom line keeps growing at a record pace.
The Dems may lose in the fall, but the result of those elections will affect all of us, even those who claim to be conservative.
Secondly, the problem that many of those with the loudest megaphone do not want us to understand is the economy is in a deflationary spiral and we have not way of stopping it. Ask yourself the question, how much is your house worth today relative to what you paid for it?
Normal
August 31st, 2010
1:59 pm
Jay,
“Please tell, what do you call it when Republicans do it?”
Saving America, I betcha…
Larry
August 31st, 2010
1:59 pm
Agreed that some of his debt was inherited, but he ran for the office knowing the situation so it’s time to stop doing the oh yeah, but it’s really Bush’s fault. It’s his job, he asked for it, he got it. But your earlier column said his spending was only at 4 trillion and if that’s true, and if the 3.3 trillion deficit is true, then we only received 700 billion of revenue in 20 months and he is spending $4.5 for every $1 in revenue.
It’s time for him to come up with a plan that gets us out of this mess. Unfortunately, he spends most of his time orating and telling everyone why it’s not his fault. That’s not the issue. I think most people have gotten tired of the wise a___’d remarks and jabs and want to see some maturity and direction. He needs to put his ego aside, sit down with the opposition (without lecturing them) and work out a coalition response that will get Washington back on track. This is not the time to be proposing new tax and spend; it’s time for Washington to provide direction and clarity which have been sorely missed for way too long.
Union
August 31st, 2010
2:00 pm
pause… for all of our problems and all of our bickering.. there is still no place i would rather be.. (except maybe an island in the bahamas.. on a beach… with a drink in my hand)
Gordon
August 31st, 2010
2:01 pm
Jay,
I’m not trying to pick a fight with you, but I would like you to answer a question for me if you don’t mind. Early this year, during the time the health care bill was being debated, you stated in one of your blogs that by law the health care bill cannot add to the deficit. I expressed surprise at that, and you confirmed it by posting some language directly from the bill.
Now I am hearing that in fact the bill could add to the deficit. I think whether that is true or not is unclear, but if that language were in the bill, I would think the response would be that it can’t add to the defict by law – end of discussion. But I’m not hearing that.
Is the health care bill, by law, deficit neutral? And a second question, if you are inclined to answer, is this: Has the $500 billion that was supposed to be cut from Medicare to help pay for the health care bill happened yet? I have never been sure on what the timing on that was, and assume it was to happen over several years. Thanks.
jconservative
August 31st, 2010
2:01 pm
Jay, as I know you have noticed over the years, most of your readers do not deal in facts. They prefer to deal with opinions based on opinions.
And if that does not work they revert to name calling.
Mick
August 31st, 2010
2:03 pm
scout
No biblical scholar am I, but words of wisdom will transcend all barriers and languages. Here’s one for you; Why don’t you ever see the headline “Psychic Wins Lottery”?
Union
August 31st, 2010
2:03 pm
jackie.. of course they are not spending money.. there is NO place to invest it and get ANY return.. have you seen the fed rates lately? obama has given no clear indication of where we are headed.. every time you turn around washington is talking about new taxes and reimplementing the old ones..
Normal
August 31st, 2010
2:03 pm
Larry,
read that Newsweek site at my 12:24…It gives you some insight as to what he’s up against, even with his own advisors. and remember Obama can’t do squat without the backing of Congress…
bart
August 31st, 2010
2:05 pm
The public won’t be satisfied with the Repubs either if they take over the House and Senate. In fact, the Republican economic policy is what got us in this mess in the first place, and that’s what they want to go back to. The public has a very short memory.
ByteMe
August 31st, 2010
2:05 pm
Gordon: when compared to the “do nothing” alternative or some of the other proposals being put forth by the opposition, HCR was scored by the CBO as lowering the deficit over the next 10 years and more after that. There’s a cost, no doubt, but that cost is still less than the cost (to the government) of the health care “system” in its current form.
Union
August 31st, 2010
2:05 pm
jackie.. in addition to that.. you have a very union friendly govt in office.. want to see someone run a business into the ground faster than deregulation.. call a union..
Jay
August 31st, 2010
2:06 pm
JohnnyReb, that latest post is much more within the realm of reason.
For context, I would add two data points.
1. When Bush took over in 2001, he inherited a federal budget that had been in SURPLUS for four years.
2.) When Obama took over in 2009, he inherited a budget already projected to be $1.2 trillion in DEFICIT.
Blaming Obama is like blaming the quarterback who took over in the fourth quarter down 45-3.
nofreecheese
August 31st, 2010
2:06 pm
…and of course Jay put the blame on the Republicans. Obama is to Presidents what Beverly Hall is to school superintendants.
Union
August 31st, 2010
2:09 pm
@ jay. ?? you can put your fingers on this more quickly than i can.. but when bush took office.. the projected surplus was a bubble based on the economy from the dot com era?? as with any projection, with the elements are modified, the true number comes out? (asking.. not saying)
Outhouse GoKart
August 31st, 2010
2:10 pm
Imam Obama and his company of keystone kops (democrats) are just handing it over on a silver platter.
TIA – Nasty Pelosi, Ayetollah Obama, Reid etc!!!
Gordon
August 31st, 2010
2:10 pm
ByteMe,
That wasn’t my question. I know how the CBO originally scored the bill. What I want to know is if, BY LAW, HCR is deficit neutral. Every major entitlement this nation has created or significantly expanded has ended up costing orders of magnitude more than originally projected. I want to know if we will actually have to pay for this entitlement if the same thing happens again, or if we will be left with just one more insane unfunded liability that was started with the best of intentions.
Jackie
August 31st, 2010
2:10 pm
@Union
Apparently you do not pay attention to the events happening in the economic markets. The rates being paid on savings are abysmal, but business do not have a passbook account. If you would care to check, the rate for bonds and other insured instruments are greater than inflation; no one knows what the Return On Investment is for derivatives and credit default swaps.
You speak of taxes and uncertainty in Washington without considering what the ROI is for current assets. Balance sheet bottom lines are blooming.
Union
August 31st, 2010
2:11 pm
Jay
August 31st, 2010
2:06 pm
“Blaming Obama is like blaming the quarterback who took over in the fourth quarter down 45-3.”
if thats the case.. obama shouldnt have been on the sidelines telling the team he knew what to do to win the game..
TaxPayer
August 31st, 2010
2:11 pm
Why Jay! I’m shocked and awed at your lack of knowledge regarding that which was confiscated by the Dems and especially by Obama. They took the con’s honor. Not to worry though. Here Beck comes to save the day! He’s the GOP’s little mighty mouse that roared.
Mick
August 31st, 2010
2:12 pm
ogk
All you counters of rotten eggs before they hatch, two months is still a very long time in politics and as yogi said: it ain’t over till its over.
Jackie
August 31st, 2010
2:15 pm
@Union
Your use of the familiar union-bashing is more of a falsehood. Point out what harm a union has brought to a company. You know that most of the foreign auto manufacturers have moved to states in the South because they are right-to-work states meaning they can pay what they choose and have you work in any condition they choose without having to worry about someone complaining. Isn’t the average beginning wage at many of those manufacturers close to $15 dollars per hour? Wal-Mart starts you at $10 per hour.
Outhouse GoKart
August 31st, 2010
2:17 pm
We just returning the Imam “rotten egg” Obama to Chicago or where ever he wants to go. Dont need him or want him. Ayetoolah Obamas fate was sealed the day he took office.
He was a failure then just as he is now.
Andy
August 31st, 2010
2:17 pm
Big money seems to be working again for the GOP!
Jay
August 31st, 2010
2:17 pm
Gordon, without knowing more specifics about the claim it’s hard to respond. I did go to the CBO to get its latest take, and saw a letter dated Aug. 24 to Sen. Mike Crapo, R-Idaho. Crapo had asked a question similar to yours, and this is how CBO responded:
Budget Impact of Enacted Health Legislation in March 2010
First, we can confirm the estimate of the overall impact on the federal
budget of the major health care legislation enacted in March. Specifically,
the Congressional Budget Office (CBO) and the staff of the Joint
Committee on Taxation estimated that enactment of the Patient Protection
and Affordable Care Act, or PPACA (Public Law 111-148) and the Health
Care and Education Reconciliation Act of 2010 (P.L. 111-152) will produce
$143 billion in net budgetary savings over the 2010-2019 period.1 That
figure includes $124 billion in net savings for the health and revenue
provisions of both laws and $19 billion in net savings for the education
provisions of the Reconciliation Act.
In its August 2010 report on the budget outlook, CBO extrapolated the
estimated effects of the legislation to cover fiscal year 2020.2 On balance,
the two laws’ health care and revenue provisions are estimated to reduce
the projected deficit in 2020 by $28 billion, and the education provisions of
the Reconciliation Act are estimated to reduce the projected deficit in 2020
by $2 billion.”
I hope that helps.
Andy
August 31st, 2010
2:18 pm
Big money seems to be working again for the GOP.
Union
August 31st, 2010
2:18 pm
jackie.. that last part made no sense..what do you want them to do with their money? unlike the govt.. when they run out.. they cannot print more. i know you are aware of that.. just saying.
ByteMe
August 31st, 2010
2:19 pm
Gordon, I don’t believe that “by law” there’s any mention of the deficit in the bill. And, yes, I’ve actually read the thing. I just do not recall seeing anything about that in there. On the other hand, there are a number of sections outlining how to cut Medicare costs going forward and that’s where a lot of the “savings” is going to come from in future years.
JohnnyReb
August 31st, 2010
2:19 pm
Jay, the Clinton surplus that Bush allegedly spent is myth. The surplus was almost gone when Bush went into office. The recession actually began in March 2001 and 9/11 wiped out the remainder. I’ll look for the article on that one also. My learning moment on this is to keep the articles. I may exaggerate occassonaly for effect, but I strive not to out right lie about statistics.