White House lists two dozen leaders to meet with Obama on deficit

Comments (16)
EddieBrown wrote:

Sounds like a who’s who of liberal dolts. Would love to be a fly on the wall during this sure to be productive meeting.

Nov 12, 2012 10:23pm EST  --  Report as abuse
sittingduck wrote:

In leading the meetings to resolve America’s economic problems, I hope President Obama heeds Abraham Lincoln’s warning in his 1861 State of the Union address. With the presence of union representatives at the meeting, the President will no doubt be reminded that “capital is the fruit of labor.” However, those words do not encompass Lincoln’s entire view. It is not just labor that America great or in Lincoln’s words what “is the just and generous and prosperous system which opens the way to all, gives hope to all, and consequent energy and progress and improvement of condition to all.” What drives America are the people who first labor someone else and after that save enough capital to labor on their own behalf. It is creation of an environment where people have the opportunity to shine and show the best of themselves that makes America great.

In his meetings this week with unions (labor) and Fortune 500 CEOs (capital), I hope President Obama realizes there is some else out there that is not just capital and that is not just labor that drives America.

Nov 12, 2012 10:38pm EST  --  Report as abuse

Affirmative Action Jackson strikes again! I can’t wait to hear another Al Green song. Oh, such a magnificent tragedy he is. Learn Chinese, losers. Do you think he’ll be available to organize my community? We produce 80% of the tax revenue in this country and we think he is the king of the dregs. Discuss.

Nov 13, 2012 12:39am EST  --  Report as abuse
rakeshdry wrote:

Its obvious this is not a meeting but a photo op. These CEO’s are letting Obama waste their time. No doubt he could learn something from them, but he will be too busy talking and pandering to the community organizers to listen to what is really important. He hasnt done any listening in four years, dont expect him to start now.

Nov 13, 2012 1:50am EST  --  Report as abuse
jaham wrote:

Obama doesn’t need to meet with any business leaders, he knows what needs to be done: He needs to drastically cut spending and reform entitlements.

1) He says he’ll cut spending, but has offered none of the SPECIFICS that he called on Romney to provide.

2) His taxing the rich is expected to yield $700B over TEN YEARS, which is LESS THAN HALF of the $1,590B he blew just 2011′s budget by.

3) He refuses to touch entitlements because he spent so much time vilifying Romney-Ryan’s plan. Obamacare allows Medicare to go bankrupt in 2024 and Obama apears ot have no plans to address that issue.

4) Speaking further on entitlements: If you think $16T, look at the $52T in accrued unfunded entitlement liabilites that Obama apparently has no plan for. cga(dot)ct(dot)gov/2010/rpt/2010-R-0197.htm

Nov 13, 2012 9:49am EST  --  Report as abuse
jaham wrote:

Obama’s plan to tax the rich is a farce:

The centerpiece of President Obama’s plan is to raise taxes on the rich (households making $250.000 or more). The only problem with this “solution” is that it is dishonest. President Obama likes to give the impression that his plan to tax the rich can significantly reduce the deficit, a claim which is false and which Obama knows is false.

Everybody knows that the rich have a lot of money, so it may appear reasonable to non-economists that taking some this wealth can fill the hole in the budget. What the public doesn’t know, and what President Obama will not tell them, is that there are just too few rich people in America for this plan to work.

According to the CBO, over the next 10 years the Obama budget will produce a deficit of $10.900 billion, or 5.3% of GDP on average. (cbo(dot)gov/publication/22061)

According to the left’s own calculations, Obama’s plan to raise taxes on the rich will generate $700 billion in additional revenue over the next decade, or just a pathetic 0.3% of GDP. (cbpp(dot)org/files/1-31-07tax.pdf)

In other words, the plan to raise taxes on the rich will only cover one out of fifteen dollars of deficit spending. Where is President Obama going to get the other fourteen out of fifteen?

To the $10.9 trillion in deficits we need to add the unfunded liabilities of Medicare and Social Security. According to the Trustees of these programs, the unfounded liabilities are a staggering $52 trillion. (cga(dot)ct(dot)gov/2010/rpt/2010-R-0197.htm)

Again, any honest economist who knows the facts can tell you that a measly $70 billion in revenue per year from the rich will not come close to cover America’s fiscal hole of at least $63000 billion dollars.

Nov 13, 2012 9:55am EST  --  Report as abuse
Abulafiah wrote:

@jaham

You just copied and pasted all that from Politisite, pretending it is your own ideas, and thinking it would make you look smart. Big fail. Now you are revealed for the parroting fraud you are.

Don’t bother denying it, jaham. It is right here -> http://www.politisite.com/2011/04/14/doing-the-math-president-obamas-plan-to-tax-the-rich-will-hardly-make-a-dent-in-the-deficit/

Nov 13, 2012 11:03am EST  --  Report as abuse
AlkalineState wrote:

Busted, Jaham. I’m not going to give you too hard of a time for plagiarizing a conservative blog site and acting like you thought of it all. But you should be careful about who you ‘borrow’ from. Politisite is in that foxnews genre of Romney-has-this-in-the-bag. I would be skeptical of any source that predicted Romney winning Florida, Virginia and Colorado. They were predicting a Romney win in all 3. He didn’t win any of those. And ‘politisite’ had no states that they guesssed wrong the other way (where Romney ended up being the winner). This is another heavily biased conservative outlet whose conclusions are suspect.

http://www.politisite.com/political-projections/

Nov 13, 2012 12:56pm EST  --  Report as abuse
Jimmy1234 wrote:

If Obama can stop 8.5 million aid to Israel DAILY. The economy will change.

http://www.ifamericansknew.org/us_ints/obama.html

Nov 13, 2012 1:40pm EST  --  Report as abuse
hotmess wrote:

Typical Democrats. If you can’t dispute the facts, attack the messenger. I doen’t matter where jaham got his information, would you please address his comments instead of attacking him?

Nov 14, 2012 5:48am EST  --  Report as abuse
Samrch wrote:

For the past two year he should had fireside chats driving home proof that aned why austerity does not work in a recession. The first thing a leader has to do is build backing for his direction and make sure everyone knows opposition will be dealt with.

Nov 14, 2012 6:26am EST  --  Report as abuse
hotmess wrote:

Thank you, Samrch, you’ve identified the problem. “The first thing a leader does is build backing for his decision and make sure everyone knows the opposition will be dealt with”? You just described a dictator, not a leader. By definition, a dictator is a leader who makes all decisions and doesn’t’ entertain suggestions or initiative from subordinates. And we’re in this mess because of the Republicans failure to negotiate?

Nov 14, 2012 7:32am EST  --  Report as abuse
AZreb wrote:

Noted – Immelt of GE – Obama’s “jobs czar” who boasted of creating jobs – in CHINA!!!! Why would I think that this meeting will be in any way beneficial?

Nov 14, 2012 9:18am EST  --  Report as abuse
KDupre wrote:

This administration wouldn’t have to raise taxes if they would STOP SPENDING MORE THAN THE COUNTRY GETS IN TAXES!

Of course that would mean that they would have to make it easier for businesses to hire new people by simplifying regulations and keep their taxes low enough to allow them the money to hire.

If all able people could get a job then they wouldn’t be on welfare.

But, and here is the caveat, do the Dems really want everyone to work and be responsible for themselves and their families?

Nov 14, 2012 10:30am EST  --  Report as abuse
KDupre wrote:

The fifteen are very large businesses who don’t represent the small business owners who do much of the hiring in this country. According to a recent article these executives plan to do a lot of kiss azzing by telling the president they WANT their taxes raised to get special treatment like legislation that favors them!

The crony capitalism rages on. No wonder this country is in such a mess!

Nov 16, 2012 10:06am EST  --  Report as abuse
Curmudgeon43 wrote:

Stop the deficit?

Easy reduce spending to be within the means to pay for it.

Unfortunately our President won’t see this obvious solution.

That’s why he and is cohorts are called “Tax and Spend” liberals.

Nov 18, 2012 1:01pm EST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.