Black People Politics : Listen to Obama's Deficit Speech (The Whole Thing)

Discussion in 'Black People Politics' started by river, Apr 14, 2011.

  1. river

    river Watch Her Flow MEMBER

    Country:
    United States
    Joined:
    Mar 22, 2004
    Messages:
    6,458
    Likes Received:
    1,282
    Gender:
    Female
    Occupation:
    Author
    Location:
    Where the Niger meets the Nile
    Ratings:
    +1,290
    Hey fambly,

    The Obama bashers are out there already telling us what Obama said and what he didn't say as if we don't have ears and brains of our own. I recorded the whole speech before the sound bite artists got to it so you can listen and hear for yourself what the man said. This way if you still don't like him, kewl but at least you will not like him for what he actually said not what smaddy said he said.

    http://overstandinguniversity.com/BObama/
     
  2. river

    river Watch Her Flow MEMBER

    Country:
    United States
    Joined:
    Mar 22, 2004
    Messages:
    6,458
    Likes Received:
    1,282
    Gender:
    Female
    Occupation:
    Author
    Location:
    Where the Niger meets the Nile
    Ratings:
    +1,290
    I am in a state of shock!

    Brotha Ankhur is the most prolific Obama basher at destee.com. For you to thank me sends shock waves through my whole body. Man, I feel like there's a tsunami in my stomach. I was expecting criticism.
     
  3. abstract219

    abstract219 ...standing on the shoulders of giants MEMBER

    Country:
    United States
    Joined:
    Sep 21, 2005
    Messages:
    2,502
    Likes Received:
    535
    Gender:
    Male
    Occupation:
    Behavioral Health
    Location:
    Philadelphia PA
    Ratings:
    +548
    Thank you River. I didnt get to hear the entire speech.

    I too, tend to be skeptical of Obama, but he made it clear on this one.
     
  4. Lokman

    Lokman Well-Known Member MEMBER

    Country:
    United States
    Joined:
    May 10, 2006
    Messages:
    209
    Likes Received:
    124
    Ratings:
    +128
    “Truth is so obscure in these times, and falsehood so established, that, unless we love the truth, we cannot know it.” - (Pascal)


    My intent was to listen to the President's entire speech: But in the beginning were these words, and Lokman just couldn't get past them.


    “...But as far back as the 1980s, America started amassing debt at more alarming levels...”

    Lokman: This is Absolutely True Mr. President.

    “...Our leaders began to realize that a larger challenge was on the horizon. They knew that eventually, the Baby Boom generation would retire, which meant a much bigger portion of our citizens would be relying on programs like Medicare, Social Security, and possibly Medicaid. Like parents with young children who know they have to start saving for the college years, America had to start borrowing less and saving more to prepare for the retirement of an entire generation.

    “To meet this challenge, our leaders came together three times during the 1990s to reduce our nation's deficit -- three times. They forged historic agreements that required tough decisions made by the first President Bush, then made by President Clinton, by Democratic Congresses and by a Republican Congress. All three agreements asked for shared responsibility and shared sacrifice. But they largely protected the middle class; they largely protected our commitment to seniors; they protected our key investments in our future.

    Lokman: A “fairytale bridge” over muddled waters just moments before the bridge completely collapses -- here:

    “As a result of these bipartisan efforts, America's finances were in great shape by the year 2000. We went from deficit to surplus. America was actually on track to becoming completely debt free, and we were prepared for the retirement of the Baby Boomers...” - (President Barack Obama)

    Lokman: Stop the Press!!! Contrary to popular opinion the economic truth is: All 4 statements in the last paragraph—are false. And therein, as the Bard would say, lies the rub. In other words, if you choose to research this matter for yourself and find the 4 statements in question to be false -- hence the very foundation flawed, what do you do with the rest of the story?

    I now leave this matter in your most capable hands.

    The Truth Will Set You Free,

    Lokman
     
  5. river

    river Watch Her Flow MEMBER

    Country:
    United States
    Joined:
    Mar 22, 2004
    Messages:
    6,458
    Likes Received:
    1,282
    Gender:
    Female
    Occupation:
    Author
    Location:
    Where the Niger meets the Nile
    Ratings:
    +1,290
    I've never heard anyone say that these things are not true. It may be that they are not. But since you are the one who asserts that they aren't the burden is on you to present evidence that they are not.
     
  6. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

    Country:
    United States
    Joined:
    Sep 29, 2005
    Messages:
    21,179
    Likes Received:
    9,463
    Gender:
    Male
    Occupation:
    Creative Industrialist
    Location:
    Temple of Kali, Yubaland
    Ratings:
    +9,585
    Obama is correct in stating "by the year 2000" however it is what happened that very same year which set in motion a reversal of this prosperity in Clinton's last year in office, and it is similar to what happened to stock values in Bush's last year as well.

    http://www.wsws.org/articles/2001/mar2001/stoc-m20.shtml


    US stock market slide: a turning point in American and world politics
    By the Editorial Board
    20 March 2001
    US stock market investors suffered their greatest ever one-week losses during the week of March 12-16. The Dow Jones Industrial Average experienced three sharp declines in five days, including a drop of over 400 points on Monday and a 227-point drop on Friday, with a total weekly decline of 821 points—a loss of 7.70 percent. The S&P 500, a broader average of Wall Street stocks, showed a 7 percent decline, while the high tech-dominated NASDAQ index fell 8 percent.

    The Dow Jones index fell below the 10,000 mark for the first time in six months, while the NASDAQ index plunged below 2,000 for the first time in three years. Since its March 2000 peak, the NASDAQ has fallen 63 percent, the biggest percentage drop in a major US stock index since the 1929 crash. Over the same period the Dow is down 16 percent and the S&P 500 down 25 percent.

    Measured by the amount of paper value wiped out, the financial debacle in the American stock exchange is already among the worst in history, with no indication that a bottom has been reached. BusinessWeek magazine reported in its market watch column that there were hopes on Wall Street that a support level for the NASDAQ would be found at about the 1,350 mark—indicating a further 500-point decline in the high tech index was widely anticipated, which would bring the total plunge to 73 percent.

    The combined losses on the NASDAQ and the New York Stock Exchange topped $4.6 trillion by the end of the week, nearly five times the losses from the October 1987 Wall Street crash. The NASDAQ by itself has fallen from $6.7 trillion in March 2000 to $2.7 trillion. The sheer magnitude of this decline is staggering.
     
  7. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

    Country:
    United States
    Joined:
    Sep 29, 2005
    Messages:
    21,179
    Likes Received:
    9,463
    Gender:
    Male
    Occupation:
    Creative Industrialist
    Location:
    Temple of Kali, Yubaland
    Ratings:
    +9,585


    This sharp $4.6 TRILLION decline in March set the stage for further decline of NASDAQ and Russell index, driving the indexes into Bear Market territory bu April 19, 2000.

    http://www.marketwatch.com/story/nasdaq-drop-hits-a-bear-market-2000-04-17
     
  8. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

    Country:
    United States
    Joined:
    Sep 29, 2005
    Messages:
    21,179
    Likes Received:
    9,463
    Gender:
    Male
    Occupation:
    Creative Industrialist
    Location:
    Temple of Kali, Yubaland
    Ratings:
    +9,585
    One thing Obama and others who talk concerning the "prosperity" which preceeded the 2000 decline in stock values is what was going on with bonds tumbling during the last part of 1999.


    "The rallies in the Dow Jones Industrials Average and NASDAQ index were indeed impressive. However, a considerable source of these gains was very positive news resulting in positive market action for Microsoft (up 9.9%) and Oracle (up 17.5%). The broad market was flat, while bonds took another tumble. Setting aside the day's random fortuitous occurrences, the market was down. The overall short-term outlook, then, remains bearish."


    http://www.mathematicalanalysis.com/money/cmt99q4.html
     
  9. Lokman

    Lokman Well-Known Member MEMBER

    Country:
    United States
    Joined:
    May 10, 2006
    Messages:
    209
    Likes Received:
    124
    Ratings:
    +128
    To: jamesfrmphilly

    You're welcome James. Glad to learn my musings were in any
    way useful to you. If you need me to elaborate a little more
    on the paragraph in question, say the word. Until then,

    Peace, Bounty & Blessings to You,
    Your Family & Your Friends... Be well.

    Lokman
     
  10. Lokman

    Lokman Well-Known Member MEMBER

    Country:
    United States
    Joined:
    May 10, 2006
    Messages:
    209
    Likes Received:
    124
    Ratings:
    +128
    Greetings, River

    River: “I've never heard anyone say that these things are not true. It may be that they are not. But since you are the one who asserts that they aren't the burden is on you to present evidence that they are not.”

    Au contraire, River, Lokman bares no such burden. The burden, of which you speak, is on the State. And on April 13th 2011, the State's CEO, President Barack Obama, assumed this burden on behalf of the State when he rendered what is generally believed to be: A truthful accounting of this nation's financial condition both past and present. As such, the veracity and credibility of the State are now resting upon his economic sophistry and conjecture—while the future welfare of millions of people in this country hang in the balance.

    Now, unless one supports the State's case prima facie, how can you ask of me that which you have not or will not ask of the State—or did you?

    After all, it is the State who requires your tax dollars—it is the State to who you send your tax dollars—it is the State to who you have entrusted your tax dollars—it is the State who has plundered your tax dollars. In a word, it is the State who owes you an honest explanation and body of evidence regarding the Economic Event Horizon into which trillions of dollars are vanishing—not Lokman.

    River, you provided a link to the President's “Budget and Deficit Address” from which the family could listen and draw their own conclusions. Lokman did just that. Again...

    President Obama said: “As a result of these bipartisan efforts, America's finances were in great shape by the year 2000. We went from deficit to surplus. America was actually on track to becoming completely debt free, and we were prepared for the retirement of the Baby Boomers...” -

    Lokman wrote: Stop the Press!!! Contrary to popular opinion the economic truth is: All 4 statements in the last paragraph—are false. And therein, as the Bard would say, lies the rub. In other words, if you choose to research this matter for yourself and find the 4 statements in question to be false—hence the very foundation flawed, what do you do with the rest of the story? I now leave this matter in your most capable hands. The Truth Will Set You Free.


    The operative phrase being “...if you choose to research this matter for yourself...” etc.

    My thought here was to mirror the sentiment you expressed at the outset of this thread. That is... let everyone be persuaded of their own mind.

    Peace & Blessings, River

    Lokman

    P.S. Brother O, your findings were duly noted—bounty and blessings to you.

    P.P.S. Family, in light of your own thoughts thus far, if anyone here wants me to elaborate a little more on the paragraph in question, Lokman is happy to share. (Peace)
     
Loading...