Sicilianthing

WASHINGTON - The painful, underperforming Obama economy remains Topic A here in the nation's capital and across the country.

Pre-midterm e******n polls show that the v**ers are just as unhappy as ever over President Obama's mismanaged handling of the economic life of our nation, and Democrats are wringing their hands over expectations that it will cost them their congressional jobs on Nov. 4.

It's gotten so bad that even some members of the liberal news media have become a great deal more critical of an economy that one analyst said "simply isn't as healthy as the headline numbers suggest."

Even former President Bill Clinton, the man who will be choreographing Hillary Clinton's 2016 White House bid, is calling for cutting corporate tax rates as part of a sweeping overhaul of the tax code.

The pro-business U.S. Chamber of Congress ran a full page ad in the Washington Post
Thursday with this quote from Clinton emblazoned across the top: "America has to face the fact that we have not reformed our corporate tax laws when 100% of the people, from Democrats, Republicans, Independents, agree we need to… We have the highest overall corporate tax rates in the world. We need tax reform."

Well, Bill, not all Democrats would agree with that. Ever since he took office, Obama's been pushing to raise taxes on businesses, and has never really warmed to the idea of any reforms that would lower rates. Democratic leaders in Congress have been downright hostile to the idea.

The result has not only been tax reform gridlock, but a chronically weak, lackluster economy held back by anti-investment, anti-growth and anti-job tax policies.

This doesn't get reported on the nightly news where its highly paid anchors have simply ignored these issues. But long-suffering, underpaid and jobless Americans are fed up with Obama and his party, are ready to strike back with vengeance in the midterm e******ns.

And the polls say v**ers now trust the Republicans on the economy more than they do the Democrats.
Moreover, e******n handicappers this week said v**ers are not only likely to give Republicans full control of the Senate, but will significantly expand the GOP's hold on the House.

It the latter proves true, House Speaker John Boehner could end up presiding over the largest GOP majority in 85 years, observers said.

The polling numbers have gotten so bad for Obama and the Democrats that the president this week was preparing to deliver a speech insisting the economy has been better than you think under his policies. Yet even with his talent for cherry picking only the best numbers and ignoring the bad ones, that's still going to be a hard sell this week.
The stock market plunged across the board Wednesday in response to a plague of disappointing economic data and uncertainty about the future of the economy that's been held back by weak investment, full time job losses, lower incomes, tighter consumer spending and a declining labor force participation rate.

The ISM manufacturing index fell in September (dropping to 56.6 from nearly 59 points in August), So did ISM's sub-index employment numbers.

Construction spending fell 0.8 percent; sales of existing homes were down; orders for long-lasting manufactured goods dropped by 18.2 percent in August; and consumer confidence fell in September to 86.0 points, the lowest point since May, according to the Conference Board.

The network news programs ballyhooed the economic growth rate that rose to 4.6 percent in the second quarter (April-to-June), and Obama is still bragging about a lower unemployment rate that has fallen to 6.1 percent.
The t***h is that the economy's gross domestic product (GDP) has been growing by just 1.7 percent a year, "about half the pace of the Reagan-Clinton years," according to University of Maryland business economist Peter Morici.
And the "real jobless rate is likely closer to 20 percent, and the root cause is slow economic growth," Morici writes in his weekly economic analysis.

The reason for this wide discrepancy? Not counted by the Obama administration's Bureau of Labor Statistics "are prime working age adults who have quit looking for a job, part-time workers who want full-time positions, and young college graduates who have enrolled in graduate school because they can't find decent employment," Morici says.

But the economy's poor performance under Obama and the Democrats runs deeper than this on many other levels, especially among the middle class.

Median incomes haven't budged, median net worth has fallen, even during the so-called recovery, and the middle class is poorer. For those who are lucky enough to have a job, and perhaps a 401 (k) retirement plan, its value took a huge hit this week from a declining stock market.

"It is no surprise, then, that people are still so gloomy about the economy. The recovery just hasn't been much of one, or one at all, for most of them. Middle class wages are flat and middle class wealth is still falling," writes economic analyst Matt O'Brien in the Washington Post's Wonkblog.

All of this will determine the outcome of the midterms e******n in little more than four weeks and the new political makeup of Congress.

A GOP Congress of course would mean they can send Obama a pile of job creating, investment-making, income boosting reform bills to get this economy running again.

For starters, it would mean veteran Sen. Orrin Hatch, a tax-cutting Republican from Utah, would become chairman of the tax-writing Finance Committee.

But it also means nothing changes at the other end of Pennsylvania Avenue where Obama seems determine to veto anything that smacks of job creating tax cuts, export trade expansion, increased energy development, and getting rid of a mountain of business regulations that have sent jobs overseas.

Absent a two-thirds v**e needed to override his vetoes, it would mean the v**ers will have to wait two more long, frustrating years before we can fix what's wrong with our economy.

JFlorio Loc: Seminole Florida

Haven't you heard the economy is doing great? No inflation, more and more jobs created for a longer period than ever before. As a conservative I look deep into those claims and find on the surface they are true, but like all government numbers you must look at the underlying parameters. As I have said before the government fudges its numbers all the time. The t***h is their is no real recovery going on. Mostly propped up by government BS helped by the i***ts in the MSM.

lpnmajor Loc: Arkansas

The idea that lower corporate tax = economic growth, is still a theory. There's never been any concrete evidence to prove it, one way or another. Businesses who wish to expand, will do so , regardless of the tax rate. Many business expenses related to expansion or investment are tax deductible anyway. That being said, tax reform is necessary for a number of other reasons, including the corporate tax structure.

Small businesses are the back bone of our economy and the least represented in DC. Small businesses cannot afford the same lobbying power that larger businesses enjoy and as a consequence, any legislation related to business, favors large businesses. Small businesses are the largest employers, and have the largest effects on the economy. More emphasis must be placed on the needs of small business, but as long as large business money is pumped into DC, it isn't likely to happen, regardless of which party is in power.

Sicilianthing

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Yep, sounds right to me.

missinglink Loc: Tralfamadore

Everyone really should look at Obama, all of his top advisors
and appointee's. They all have one thing in common, Drastic change.
All of their anti democratic behavior when compiled
stinks of an attack on our entire system. They are obivously
after any and all citizens who are strong, self reliant and there- fore automatically against big government.

The sum of all issue's created by this administration smack's of
" Change we can believe in" thru the total destruction of the status qua.

All small business represents individual achievements.
All avenues of self improvement are being blocked. The collective will not tolerate individualism.

Sorry I jumped around a bit. Unrealistically high taxation
is just a means for government to steal individual gains.
Call it what you will but that's it in a nutshell.

Liberty Tree

Medium houshold incomes falling, smallest workforce since 1978, and no inflation because the increasing cost of food and energy are not counted. This is just to name three things.

Forkbassman Loc: Missouri

Things are really great; 93,000,000 not working. Does anyone believe anything the WH says?

JFlorio Loc: Seminole Florida

NO!

Liberty Tree

No!!!