What the hell is Austin Goolsbee smoking? He's Obama's Chairman of the Council of Economic Advisers?

[Cali_Democrat]

Good God! Here's his take on the pathetic jobs report today:

http://blogs.abcnews.com/politicalpunch/2011/07/goolsbee-unemployment-rate-remains-unacceptably-high.html

“Today’s report underscores the need for bipartisan action to help the private sector and the economy grow – such as measures to extend the payroll tax cut, pass the pending free trade agreements, and create an infrastructure bank to help put Americans back to work,” he writes.

The first two things he mentions is tax cuts and free trade agreements to create jobs? :banghead:

I'm really starting to think Obama is a firm believer in supply side economics

Paul Krugman also noted Obama's rightward shift:

http://www.nytimes.com/2011/07/08/opinion/08krugman.html?_r=2&hp

But let’s be frank. It’s getting harder and harder to trust Mr. Obama’s motives in the budget fight, given the way his economic rhetoric has veered to the right. In fact, if all you did was listen to his speeches, you might conclude that he basically shares the G.O.P.’s diagnosis of what ails our economy and what should be done to fix it. And maybe that’s not a false impression; maybe it’s the simple truth.

This is not good at all. We have a Democratic President agreeing with Republicans in Congress that the solutions to our economic woes are tax cuts, spending cuts and more free trade agreements. I feel like I'm in the Twilight Zone.

[Inuca]

1. Do you actually know wha tthe payrol tax is? n/t

[girl gone mad]

8. Even staunch supporters of a payroll tax holiday don't support..

the administration's version of it, which is only an employer-side cut.

It needs to be on the employee side to have any real benefit.

[RaleighNCDUer]

12. And either side - and particularly both together - do nothing but help

unfund SS.

We'll give you ten dollars today, and take SS away from you next year. Fair deal?

[OHdem10]

2. Very Very Very Early on, right after Innaugueration, we had our

first clue from Valerie Jarret on MSNBC. "The Private
Sector creates the jobs" was her answer when someone
asked her what they planned to do about jobs.

[Hawkowl]

6. Always hated Jarret

Ever since I worked in Chicago in the late 80's. A pompous, condescending, arrogant, rich, snob who couldn't find her ass with both hands.

[gateley]

3. PAYROLL tax, not cut tax on the wealthy. Sheesh - you're too

eager to jump on that Obama's Got It All Wrong bandwagon. Don't get yourself in a head-banging frame of mind when it's not warranted -- there's plenty of crap that IS worth banging your head over.

[girl gone mad]

9. WHen it's on the employer side, it's another cut that disproportionately benefits the wealthy.

These guys are clueless when it comes to economics. All they've got is dogma, and right-wing dogma at that.

[gateley]

15. SMALL business employers would benefit, and be more inclined

to hire/add hours. I don't want to punish them because of how the huge corporations take advantage. Even if the Big Boys don't add jobs, which they've been inclined not to, I do want to help the Small Businesses.

[Cali_Democrat]

18. Small business employers would benefit, and be more inclined to hire/add hours?

That's supply side thinking. Whether it's big or small business, it doesn't matter.

Giving tax cuts to small business with the hope that they will add more jobs and produce more goods and services that consumers will not buy is not going to work. The problem is that consumers are struggling, especially the middle class. Businesses will not hire if there's no demand.

The problem is demand or lack thereof. We need demand-driven solutions, not supply side Reaganomics.

[boppers]

21. Care to offer examples of "demand-driven solutions"?

It would be helpful for me to see the differences. What solutions would create demand?

[whosinpower]

28. Yeah? Then it DID NOT WORK

Just take a look at the jobs report is proof enough that this concept, while sounding nice - does not work.

[Big Blue Marble]

31. I have to say I am a small business owner.

This reduction in PR taxes would not encourage me to hire. What encourages me to hire are more customers.

[PoliticAverse]

35. This is exactly why lots of companies are 'hoarding' cash. No customers no hiring. n/t

[provis99]

10. it is a cut only on the employer's side. ie a tax cut for businessmen.

employees would continue to pay the same in payroll taxes.

[gateley]

16. As I just posted, SMALL business employers would benefit, and

I want to help them stay in business and grow, add jobs/hours.

Can't pick and choose, but I don't want to essentially take away an aid to the small business owner just because the biggies stomp all over it.

[Cali_Democrat]

19. Businesses won't hire if there's no demand

Regardless of whether or not they get additional tax breaks.

[gateley]

20. Well, yeah. You have a good point. Your posts are making

me rethink my I Am Right position! :hi:

[DJ13]

4. I watched Goolsbee on CNBC and was wondering

If he could point to ONE free trade agreement that has ever created more jobs than we lost.

If thats what the WH is doing to improve our jobs market they are fooling themselves.

Its no wonder they cant improve our economy, they're using the GOP's handbook.

[TreasonousBastard]

14. All of them. Without them we couldn't have had...

that $175 billion in exports last April.

("Trade" means selling stuff, too.)

[DJ13]

17. You only saw half my point.

[TreasonousBastard]

32. The other half is pointless-- they tried...

stimulus and a few other things, but the new House put a stop to that silliness so Paris Hilton doesn't have to pay taxes.

It would be nice if Obama had LBJ's talent for cracking heads and getting his way, but he doesn't. So, when faced with overwhelming force you start dancing.

[RaleighNCDUer]

26. And on the other side, how much did we import? nt

[TreasonousBastard]

30. A lot more, but that was almost all oil

[RaleighNCDUer]

33. Sure about that?

Ever hear of this place called "Wal-Mart"?

[TreasonousBastard]

34. Pretty much sure...

over 8 million barrels a day imported at around a hundred bucks a barrel= a lot of money.

Notice didn't say the 300 billion or so a year we spend on imported oil is most of our imports, but it is most of the deficit in our trade balance.

[MouseFitzgerald]

22. What I would like is for Goolsbee or any other free trade advocate

to not just explain the differential in jobs lost to jobs gained but to address the most fucked up and immoral aspect of free trade, which is the fact that it directly results in the use of slave labor in foreign countries where workers have no right to fair pay, safety, benefits, or security.

Why doesn't he address the fact that all these shitty cheap goods that we all use are made by impoverished children and slaves?

[bornskeptic]

5. When unemployment is high, Keynsian economics calls for taxcuts for the working class.

Supply-side economics calls for taxcuts for the wealthy. That's a rather crucial distinction.

[TomClash]

7. I dislike Austin Goolsbee

In fact, there is no one on his economic team I respect, except for Bernstein and that respect is waning.

[RaleighNCDUer]

11. “Whenever a fellow tells me he's bipartisan I know he's going to vote against me”

Harry S Truman

[polichick]

25. Great quote - I must say that I'm always a little suspect of bipartisanshit too...

I'm a liberal Democrat and want no part of anything the other side is slinging.

[TreasonousBastard]

13. I'm not sure what your problem with this is...

all of these things are worthwhile, even if they don't solve the problem by themselves.

[Palmer Eldritch]

23. Goolsbee quit the Administration weeks ago.

[Cereal Kyller]

29. Thank you

I was starting to think I'd imagined it.

[polichick]

24. Looks more and more like we don't have a Democratic president.

[MannyGoldstein]

27. He's smoking Benjamins

Given to him by Wall Street.

Checkmate. They win.