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What Does Barack Know That 375 Leading Economists Don’t??

Posted by Larry Doyle on November 1, 2008 8:00 PM |

While there are a host of topics that deserve and have received significant attention in this election cycle, there is little doubt that the focus on our current economic condition and our future economic path is the issue that will carry the day and determine our next President-elect.

Regrettable or not, our political system promotes a level of confusion through misinformaton and disinformation. Where does one turn for solid advice and insight? Well, when we’re sick we’d all want access to and advice from the best doctors. When we have a legal issue, we’d all want access to and advice from the best lawyers. When we want the best education for our children, we’d all want access to and advice from the best teachers and professors. When we need spiritual guidance, we’d all want access to and advice from the best ministers. When we need input on what is going on in our business and economy, we’d all want access to and advice from the top economists. Well, guess what…..we do have that access!!!!!

ECONOMISTS FOR McCAIN IS AN INDEPENDENT, VOLUNTARY ASSOCIATION FOR ECONOMISTS WHO SUPPORT SENATOR JOHN McCAIN’S PLAN FOR AMERICA. IT IS NOT AN OFFICIAL ARM OF THE JOHN McCAIN 2008 CAMPAIGN. ECONOMISTS FOR McCAIN ACCEPTS NO FEES, DUES, DONATIONS, OR CONTRIBUTIONS.

WOW!! A forum that addresses the economic issues confronting our country and our world that is not biased or corrupted by money. Yes….do you feel better already?? I thought so.

Read the Rest->
This group of economists currently totals over 500 from all parts of the country. They are a mix of young, old, Republicans, Democrats, and Nobel Prize winners. They teach and work at some of our finest universities, institutions, and foundations.

They care so much for our great land to share their insights on the major issues of the day, including the Federal budget, health care, the current financial crisis, trade, and TAXES.

They also are kind enough to share their opinions on both John McCain’s and Barack Obama’s plans and proposals. I quote:

“Barack Obama argues that his proposals to raise tax rates and halt international trade agreeements would benefit the American economy. They would do nothing of the sort…..they would reduce economic growth and decrease the number of jobs in America.”

Don’t take my word for it, but please take the time to review what these leading economists have to share.

Then please share this piece with every friend, neighbor, work colleague, and concerned citizens of our great nation.

Actually as I further review this site, I am salivating at the wealth of truthful, unbiased, independent analysis provided by this group of economists. This site is truly the “mother lode”.

Here is an excellent piece on Obama’s “incredible” as in not possibly believable approach to his tax and spending programs.

Obama’s numbers are clouded in “smoke and mirrors,” and hundreds of leading economists in our country know it and are willing to put their good name on the line to defy him!!!

Our message is getting out and the media is catching on. NQ has been consistent and persistent in highlighting Obama’s willful deceit. In support of the analysis provided by Economists for McCain, is this article from CBS News:

“Reality Check: The Cost Of Obama’s Pledges”

“The fact is the savings Obama has identified do not cover his spending. According to a CBS News estimate, he’s around $90 billion short. The Obama campaign disputes this, saying everything including the stimulus is paid for over 10 years. But other analysts say – even presuming Obama saves money in Iraq and chops the federal budget as promised – he falls short.” — CBS News’ Wyatt Andrews

I quote some more:

Without question, the Barack Obama infomercial served as a very slick and powerful recitation of the biggest promises he’s made as a presidential candidate. But the very bigness of his ideas is the problem: he seems blind to the concept his numbers don’t add up.

Obama has already proposed a new stimulus package of $188 billion over two years. His tax cuts will cost $85 billion a year. His “army of new teachers”: $18 billion; Renewable energy: $15 billion. CBS News and various independent experts estimate Obama’s total first year spending could exceed $280 billion.

Still Obama repeated his claim he can find the money to pay for every proposal.

“I’ve offered spending cuts above and beyond their cost,” he has said.

The fact is the savings Obama has identified do not cover his spending. According to a CBS News estimate, he’s around $90 billion short. The Obama campaign disputes this, saying everything including the stimulus is paid for over 10 years. But other analysts say – even presuming Obama saves money in Iraq and chops the federal budget as promised – he falls short.

Let’s break all of this down, starting with his highly suspect, and widely discredited, claim that he can find federal “spending cuts beyond the costs” of his promises. Very few independent economists believe he has identified the savings needed to offset his remarkable list of tax credits, tax cuts and spending pledges.

Fact: Even if you believe Obama intends to fix health care, most independent analysts say the cost is massive – $1.2 trillion over ten years, according to the highly respected Lewin Group. When the new Congress wakes up next year to a $1 trillion deficit, and answers the overwhelming new demands for another stimulus package, will the leadership really bite on a health care reform package that digs the deficit hole so much deeper?

And that’s just the beginning of what Obama would spend.

Fact: The tax cuts he promises, which are mostly refundable tax credits (code for cash back), will cost $60 billion just in year one, according the National Taxpayers Union, though the Obama campaign’s own estimates in July put that figure at $130 billion.

Fact: His new promise to give businesses a $3,000 tax credit for each new job created will cost $40 billion. But economists say this credit is far more likely to benefit companies already planning to expand and will likely not be enough to help companies create new jobs or forestall layoffs.

Fact: Obama’s claim he will lower health care premiums by $2,500 is: 1.) guesswork, which is 2.) based on health care savings that might, in a perfect world, happen over 10 years – a fact Obama neatly glosses over.

Fact: Obama, when referring to savings he can make by leaving Iraq ($90 billion, according to Congressional Budget Office estimates), has spent these savings several times over, across several different promises depending on the crowd he’s addressing.

Most of the time he spends the Iraq savings in the context of the roads he wants to build; sometimes it’s for the teachers he wants to hire. Tonight, he riffed rhetorically on the savings, asking how many scholarships could be funded, or how many schools could be built. In the end though, presuming he really saves $90 billion, he can only spend it once.

Remember he also mentioned rebuilding the military ($7 billion/yr); his education initiative ($18 billion/yr); and his energy initiative ($15 billion/yr). He did not mention the $188 billion that he would spend on the brand new stimulus package he has proposed.

If he closes every loophole as promised, saves every dime from Iraq, raises taxes on the rich and trims the federal budget as he’s promised to do “line by line,” he still doesn’t pay for his list. If he’s elected, the first fact hitting his desk will be the figure projecting how much less of a budget he has to work with – thanks to the recession. He gave us a very compelling vision with his ad buy tonight. What he did not give us was any hint of the cold reality he’s facing or a sense of how he might prioritize his promises if voters trust him with the White House.

The truth will out and it will keep us free.

Fight for America!!!!

Our future and that of our children does depend on it!!!!

So back to my title, “just what does Barack Obama know about our economy and our future that hundreds of our leading economists don’t??” NOTHING!!! Remember when Barack’s lips move……..yep, he’s not being straight with America!!!!

Remember to visit Economists for McCain for more incisive economic analysis.






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