Is Obama the Next Hoover?

2009 September 17
by drdog09

Well technically no. Hoover was considered the wonder kid of his age, having successfully rescued several State and National efforts as government functionary. But in some ways we seem to be repeating the 30’s all over again —

* Unemployment is at an all time high, probably to peak at 10% or so.

“The level of unemployment is unacceptably high. And will, by all forecasts, remain unacceptably high for a number of years.”

Who do you suppose said that? A Republican political operative? A Fox News political analyst? One of those several hundred thousand Tea Partiers who assembled in Washington on Sept. 12? No, it was Lawrence Summers, the director of Barack Obama’s National Economic Council and, by common consent, one of the world’s leading economists.

* Tax policy. Well Hoover failed to act in this regard, the Democrats are preparing to let a tax increase wallop the economy on top of all their other schemes.

Tax policy is one example. The Bush tax cuts are scheduled to expire next year, and the Democratic Congress will surely allow income tax rates on high earners to go up to 39.6 percent again, or even more if it enacts the administration’s proposed policy of limiting high earners’ charitable deductions.

These increases will produce revenue that the government needs to reduce the enormous budget deficit, though surely not as much revenue as static economic models indicate. But they will also depress economic growth to some non-trivial extent, and thereby depress job creation.

* Finally we have a minor trade war starting to brew with China. For Hoover is was Smoot-Hawley that did the damage. For Obama it appears to be moves by Commerce.

Then there’s trade protectionism. A week ago Friday, late at night, the Obama administration slapped import tariffs on Chinese tires. The Chinese retaliated by imposing tariffs on auto parts and chickens — take that, United Auto Workers and Tyson Foods! Upshot: American consumers will pay more for tires, and auto-parts and chicken-processing jobs will be at risk.

And more of that may be in store. “The smell of trade war is suddenly in the air,” writes The Wall Street Journal, and Global Trade Alert reports that 130 protectionist measures are ready to be implemented by countries around the world. Are we seeing a repeat of the job-destroying protectionism that followed the Smoot-Hawley tariff of 1930? It’s starting to look like it.

quote source – Barone

We seem to have all the trappings to recreate the double dip that followed in 1933-34.

This from the musical Annie needs an update —

[ALL]
Today we’re living in a shanty
Today we’re scrounding for a meal

[SOPHIE]
Today I’m stealing coal for fires
Who knew i could steal?

[MEN]
I used to winter in the tropics

[WOMEN]
I spent my summers at the shore

[FRED]
I used to throw away the paper–

[ALL]
We’d like to thank you: Herbert Hoover
For really showing us the way
We’d like to thank you: Herbert Hoover
You made us what we are today

Prosperity was ’round the corner
The cozy cottage built for two
In this blue heaven
That you
Gave us
Yes!

We’re turning blue!
They offered us Al Smith and Hoover
We paid attention and we chose
Not only did we pay attention
We paid through the nose.

In ev’ry pt he said “a chicken”
But Herbert Hoover he forgot
Not only don’t we have the chicken
We ain’t got the pot!
Hey Herbie

[WOMEN]
You left behind a greatful nation

[ALL]
So, Herb, our hats are off to you
We’re up to here with admiration

[SOPHIE]
Come down and have a little stew

[ALL]
Come down and share some Christmas dinner
Be sure to bring the missus too
We got no turkey for our stuffing
We’d like to thank you, Herbert Hoover
For really showing us the way
You dirty rat, you Bureaucrat, you
Made us what we are today
Come and get it, Herb!

And so it goes…

26 Responses leave one →
  1. 2009 September 17 4:27 pm
    [1]
    rightwingyahoo permalink

    Well, what if we call Bush the Hoov, and Obama the FDR, making it all a thousand times worse?

  2. 2009 September 17 4:57 pm
    [2]
    mulletover permalink

    I’d like a do-over.

  3. 2009 September 17 4:58 pm
    [3]
    RepublicanPundit permalink

    dog,

    What about first a Carter, then a Hoover?

  4. 2009 September 17 4:58 pm
    [4]
    mulletover permalink

    The pathway out is going to be more painful than the pathway in.

    Thanks for nothing, Obama.

  5. 2009 September 17 4:59 pm
    [5]
    RepublicanPundit permalink

    A one termer for sure.

  6. 2009 September 17 5:01 pm
    [6]
    conservativetony permalink

    I have to admit when I first saw DDs post, my mind immediately picked up the word “Hoover” as the vacuum cleaner.

    Fitting, because he is sucking this country dry.

  7. 2009 September 17 5:14 pm
    [7]
    mulletover permalink

  8. 2009 September 17 5:17 pm
    [8]
    rightwingyahoo permalink

    I’ll admit to being birther-ish. I don’t know where he was born, but I don’t like it that he sealed all his records, nor do I care for the fact that the SCOTUS has pretty much ignored Article II in regards to the BC.

    The law? We don’t need no steenkin’ law.

  9. 2009 September 17 5:22 pm
    [9]
    mulletover permalink

    Bill O’Reilly continues to pi$$ me off. Just now, Mike Gallagher stated the 9/12 project attracted 1,000,000 people, and O’Reilly “corrected” him and stated it only drew 75,000.

    I think O’Reilly is jealous as hell of Beck, and with good reason. He is getting shown up bigtime.

  10. 2009 September 17 5:24 pm
    [10]
    JustMary permalink

    I stopped watching BOR a while back, and can’t say I miss it!

  11. 2009 September 17 5:27 pm
    [11]
    RepublicanPundit permalink

    The Media has put out a lot of false information about the “birthers” goal. First, the phrased the argument with a false proclamation: “Birthers argue that Obama is not a citizen”. I have blogged and read much about his birth certificate, and no-where have I read or heard of anyone saying that Obama was not a legal citizen. (much the same way they control the argument about illegal aliens by calling everybody immigrants without defining whether or not they were legal immigrants).

    Second, they never interview a birther, but are very willing to interview anyone who thinks the birthers are crazy.

  12. 2009 September 17 5:30 pm
    [12]
    rightwingyahoo permalink

    BOR is a tool.

    75,000? What a joke.

    We know it was over a million, and odds are it was 1.5 to 2 million.

  13. 2009 September 17 5:37 pm
    [13]
    rightwingyahoo permalink

    Anyone can see the crowd is over 75k, and those who deny it was over 75k are sailing much farther out into the seas of insanity than the birthers ever will.

  14. 2009 September 17 5:42 pm
    [14]
    gnqanq permalink

    Who is this Bill O’Reilly you speak of?

    Is he some kind of pin head?

  15. 2009 September 17 5:53 pm
    [15]
    mulletover permalink

    O’Reilly has the top-rated cable news show. I don’t know why he is so insecure.

    Maybe he wears Depends.

  16. 2009 September 17 6:00 pm
    [16]

    lying.” sack ofSHIT

  17. 2009 September 17 6:05 pm
    [17]
    RepublicanPundit permalink

    RWY, I have been a “birther” from the start. I know what one has to go through when a military child is born overseas. The birth certificate is four pages long, not one page that does not give the doctor’s name or hospital. The short birth declaration is issued immediately by the state of record of the American Citizen who applies, but naturalization requires the long form, however, if the person is assigned by the government, he or she is considered a natural born citizen.

    Obama’s parent was not serving the country overseas, so he would not be considered a natural born citizen if he was born overseas, but he would be a citizen.

  18. 2009 September 17 6:08 pm
    [18]
    RepublicanPundit permalink

    IP, I prefer lying sack of shit to human excrement. It is easier to type an closer to the truth!!!

    🙂

  19. 2009 September 17 6:14 pm
    [19]

    “I think O’Reilly is jealous as hell of Beck”
    —-
    Actually I think he’s scared that in 6 months he’s done what took BOr several years to do, nipping on his heels, funny that everyone at fox’s closest competitor in ratings is typically someone else @ fox, and not others at another network as there numbers are horrid at the moment.

  20. 2009 September 17 6:15 pm
    [20]
    conservativetony permalink

    BOR is one of only 75,000 Washington punditiots. I could see how you would think there are millions of these punditiots, because they are everywhere, but that is not the case.

  21. 2009 September 17 6:17 pm
    [21]

    “We know it was over a million, and odds are it was 1.5 to 2 million.”

    I think those numbers are actually high, but to me anyone using a number less then 500k is either purposely being full of doo-doo, or simply ignorant about the issue.

  22. 2009 September 17 6:19 pm
    [22]
    conservativetony permalink

    Uhh

    pundidiot.

  23. 2009 September 17 6:19 pm
    [23]

    “I’d like a do-over. ”

    So would many of us, time for revolution.

  24. 2009 September 17 6:19 pm
    [24]

    pundidiot – I like it.

  25. 2009 September 17 6:26 pm
    [25]
    conservativetony permalink

    BOR is simply doing what he always does, trying to be all things to everybody. Since none of the left uses numbers over 100k, he won’t either. It won’t matter to him if he believes himself the number is much larger.

  26. 2009 September 17 6:40 pm
    [26]
    RepublicanPundit permalink

    KH. In in.

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