« BACK  |  PRINT

RS

FRONT PAGE CONTRIBUTOR

Obama takes another excursion in taxpayer-funded million dollar buses

President Obama is off on another campaign tour utilizing his two $1.1 million buses he had us buy for him so his campaign, unlike the Romney campaign, wouldn’t have to pay the bus fare.

Along with a scheduled stop for ice cream on Thursday and attending a full fledged ice cream social on Friday, Obama intends to hype his taxpayer-funded so-called investment in manufacturing. Unfortunately, this manufacturing effort may be working as well as Obama’s failed stimulus that was supposed to keep unemployment below 8 percent.

The Institute for Supply Management’s factory index has unexpectedly contracted for the first time since July 2009, sliding to 49.7 in June from May’s 53.5. Economists had expected a reading of 52.0.

The 12.3 point drop in the orders index — the largest drop since October 2001 (when, in the wake of 9/11, the index dropped 12.4 points) and the second largest decline since December 1980, has James Pethokoukis wondering whether the U.S. economy fallen back into recession.

Hopefully, during the bus tour voters will get a chance to ask Obama why manufacturing has contracted and jobs have been lost to China. Apparently Obama has anticipated such questions. He is expected to announce that the United States will file a trade complaint against China for new duties it imposed on American-made cars and trucks, including the Ohio-built Jeep Wrangler.

COMMENTS

  • http://contributor.yahoo.com/user/960306/gregory_schmidt.html theillinoisguy

    but why is the bad news always “unexpected”? If anything, after 3.5+ years, good news would be unexpected with this clown.

    • Dan Spencer

      I don’t know about always. In this case, as James Pethokoukis noted in the linked article, not one of 70 economists interviewed by Bloomberg thought the Institute for Supply Management?s factory index would be below 50.5.

      • Tbone

        Don’t they realize that that is like hanging a sign around their necks that say “I don’t know jack ….”

        • Melody Warbington (rwm52)

          kinda like “you might be a redneck if…”

          You might be an economist if you’ve never worked at a real job. Of course, that one could be confused with “you might be a politician if…”

    • funwithknives

      and every time it does not go his designated way, and it would actually be the truth.

      He’s never done anything worthwhile or provable and has no sense of direction where real productivity/real work/real success is concerned.

      So It’s ALL UnExpected!
      Like Tarzan seeing his first airplane and shouting: “Look Cheetah, Giant Tin Bird! ” {what kind of egg would he ‘expect’ ?}

  • eddiethegeek

    Expect a rash of poor earnings reports for Q2 and a dramatic uptick in layoffs. And this was going to happen BEFORE the SCOTUS’ ridiculous Obamacare decision, which is going to further business confidence and expansion plans.

    I swear, the folks in Washington have NO IDEA where jobs come from. Their policies seem to be 100% aimed to kill jobs.

    • acat

      and the other party with its’ support base largely not.

      We’re going to find out if the parasite can be returned to a symbiotic state or whether it just needs to be killed.

      Mew

  • Spartan4Life

    I am sure we are going to hear all summer long and right up to the election how President Kardashian “saved” the domestic auto industry(from itself, I guess).

    Noticed yesterday that GM stock is trading close to it’s 52 week low at under $20/share. I think Kardashian got the taxpayers in at something like $45/share so we have now lost over 1/2 of our “investment” which was really just Obama gifting taxpayer money to the UAW. It is now apparent we will never get our money back, regardless of how long we own this turkey of a company. We should sell now.

    Since he likes to run around Ohio, Michigan, PA, and Wisconsin touting this as his major accomplishment, shouldn’t Romney have a nice simple explanation that debunks the myth of Obama as economic savior?

  • Liquid khaos

    Also, is it actually legal to use buses paid for with tax money to campaign?

    • uselogic

      But that never stopped this batch of thieves before. Legality…. psahw, that SO for people on the Right.

      • uselogic

        nt

  • tnguy

    We have a socialist democratic party, a largely statist republican party, and a bolshevik president. Why on earth would anyone expect the economy to be anything other than weak, regardless of what sort of economics phd they might have? I can’t imagine any economist being surprised by a poor economic report at this point, let alone 70 of them.

    There might be the occasional temporary upswing in the economy, but overall, the weakness is a long-term problem. The economy’s issues were there before Obama took office, and will be there when he leaves. If Romney and the republican party offer nothing more than a few tax cuts or incentives, coupled with another helping of big gov’t, the problems are only going to get worse. And making the case for conservatism will be that much harder in 2014 and beyond.

    We need immediate drastic changes to the federal gov’t, and I’ve yet to hear that from Romney, nor the republican leadership in congress.