Thursday, September 22, 2011

Republicans warn Federal Reserve officials NOT to do anything to stimulate the economy. Sort of difficult to beat Obama in 2012 if the economy is fixed isn't it?


Here is the letter from John Boehner, Mitch McConnell, and John Kyl:

Dear Chairman Bernanke, 

It is our understanding that the Board Members of the Federal Reserve will meet later this week to consider additional monetary stimulus proposals. We write to express our reservations about any such measures. Respectfully, we submit that the board should resist further extraordinary intervention in the U.S. economy, particularly without a clear articulation of the goals of such a policy, direction for success, ample data proving a case for economic action and quantifiable benefits to the American people. 

It is not clear that the recent round of quantitative easing undertaken by the Federal Reserve has facilitated economic growth or reduced the unemployment rate. To the contrary, there has been significant concern expressed by Federal Reserve Board Members, academics, business leaders, Members of Congress and the public. Although the goal of quantitative easing was, in part, to stabilize the price level against deflationary fears, the Federal Reserve’s actions have likely led to more fluctuations and uncertainty in our already weak economy. 

We have serious concerns that further intervention by the Federal Reserve could exacerbate current problems or further harm the U.S. economy. Such steps may erode the already weakened U.S. dollar or promote more borrowing by overleveraged consumers. To date, we have seen no evidence that further monetary stimulus will create jobs or provide a sustainable path towards economic recovery. 

Ultimately, the American economy is driven by the confidence of consumers and investors and the innovations of its workers. The American people have reason to be skeptical of the Federal Reserve vastly increasing its role in the economy if measurable outcomes cannot be demonstrated. 

We respectfully request that a copy of this letter be shared with each Member of the Board. 

Sincerely,

Sen. Mitch McConnell, Rep. John Boehner, Sen. Jon Kyl, Rep. Eric Cantor 

Does ANYBODY believe that their motives are purely to protect the American economy?

If you do I have a bridge to nowhere (Sarah Palin's political career) to sell you.

Can somebody please explain to me how these assholes are patriots and our President who has worked every day to solve the problems facing thsi country while these Republicnas sabotage every effort, is considered un-American?

23 comments:

  1. Anonymous2:40 AM

    Their tactics demonstrate a deep and abiding disdain towards the American people.

    They simply want to retain power at any cost to the average American. They and their cronies in Big Business are behaving in a traitorous manner. I do not use the word traitor lightly. I mean it.

    They would rather see our country fall apart than concede one ounce of success to President Obama.

    If anyone votes to support these self-centered, vain and power-hungry members of Congress, then they, too, by extension are turning their hearts against our country.

    We should all be working together to create jobs, build infrastructure, give assistance to those who need it most. But no, that would be against these folks' core values: greed, greed, and more greed.

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  2. Anonymous2:42 AM

    Blatant, outright treasonous talk ! This has been their plan all along; to let the economy tank, just to get that "black man" out of the White House.

    Look at all President Obama has accomplished so far; and imagine how much more, and in what better condition this country would be in right now if the Republicans in Congress had offered any support whatsoever, instead of 'stone-walling' Obama at every turn.

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  3. angela2:47 AM

    Well, well. The Four Horsemen of the Apocalypse strike again.

    Chinless McConnell, Crying Boehner, Dickhead Cantor and Retiring Geezer John Kyl. The smell of mendacity, horse shit and sulfur is in the air.

    What's the quote?
    The GOP . . . keeping millions unemployed to put one man out of work.

    They should be arrested for sedition.

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  4. I have yet to see a response to the letter of the Republican leadership by the administration. Bernanke was appointed by Bush and has no ulterior motives with his actions.

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  5. Anonymous3:17 AM

    Does ANYBODY believe that their motives are purely to protect the American economy?


    Oh, their motives ARE to 'protect the American economy', but it is just THEIR version of the economy that they want to protect...

    ...the one where the ultra-rich 'job creators' continue to suck the country dry without providing any jobs (they're 'uncertain', you know!)...

    ...and THEY commit 'class warfare' on the rest of the American populace...

    ...THEY don't know, and never HAVE known what it's like to work two or three piece-of-shit jobs and STILL not even have enough money to feed their families.

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  6. barney3:23 AM

    They really are trying very hard to railroad the economy and hurt the American people. If Obama were Bush, then they would be screaming for the Federal Reserve to do something now.


    These old men are just a big bunch of little girls in big men's pants. They must have Koch on their speed dial.

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  7. Anonymous3:34 AM

    They're despicable. In every way.

    They'd throw the entire country under the bus for their party "ideals"--the teabagging Republican Party is the biggest moral hazard in the US. Paid shills for the corporatocracy and the precursor to fascist rule in the US.

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  8. Anonymous3:40 AM

    These Republicans clamor for "ample data proving a case for economic action and quantifiable benefits to the American people" yet they totally ignore this approach when discussing raising taxes and cutting programs that have proven to work. Furthermore, when they claim that their only interest is to insure the Obama is limited to one term, they are openly admitting that we the people mean nothing to them.

    Boehner, McConnell, Cantor et al are disingenuous and dishonest in their rhetoric and actions.

    Asshats.

    Headset

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  9. Anonymous4:14 AM

    I cannot believe that anyone in my state voted for that idiot from OH. I am embarrassed that I live here. How anyone voted for this man is beyond me.

    How we can have these people representing us and who could really give a flying fig about any of us is appalling. They should be ashamed of themselves.

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  10. Tom Joad4:29 AM

    There is no doubt that the Repugs are doing everything in their power to make this a one term President. All the while at the expense of the American people. And to some extent foriegn markets and economys.

    The big question is ; will they get away with it. Will the majoroity of America see it for what it is. Or will their corporate overloads and the media win the battle of Americans hearts and minds?

    Time will tell, and oh yeah Karma is a cruel mistress.

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  11. It's easy to explain -- it's double-speak a la 1984. Say lies enough times, and they become "truths". When a totalitarian state rides into America it will be wearing a smile and wrapped in the American flag. Ooops, she already did.

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  12. Anonymous4:58 AM

    It starts out with "It is our understanding," you know it gets worse from there.

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  13. Anonymous6:09 AM

    I am so glad you are including these posts on national issues, because they are such an integral part of what Palin was supposed to help wreck for our president and our country.

    And now perhaps it will be a little harder for Boehner and his pals (Rupert, the Kochs, Ailes) to prevail and a little easier for our president to heal the country.

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  14. Smirnonn6:23 AM

    Any single one of their attempts to halt economic recovery is a prime example of cynical partisan politics. Taken as a whole, the goptardian obstruction is damn near treasonous. Filibusters, holding UI hostage for tax cuts to the rich, ginning up a debt ceiling "crisis" which caused a downgrade of the US credit rating, and so on. Don't even get me started on why the economy sucks so hard right now (2 unpaid for illegal wars, crappy meds bill, tax cuts for the rich, etc. THANKS, SHRUB!). Funny, I thought they ran on "jobs, jobs, jobs" in '10. Oops, I forgot. THEY LIE.

    It would be a damn shame if the Dems don't figure out a way to call the gotp'ers out for this deplorable strategy in this election cycle. If it could be made clear to the American people the games the gop has been playing with the economy for potential political gains the gotp'ers would sink like a stone.

    The tremendous amount of human suffering inflicted on the US by this party in order to oust a black man from office is deplorable.

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  15. Anonymous6:30 AM

    Republicans and Tea Party are traitors. Sarah Palin started this. They all should be charged with treason.

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  16. Anonymous6:33 AM

    Okay, they are basically saying: you can't propose anything without showing us your proposal but we're not going to listen to your proposal because you haven't proposed it to us first.

    And how dare the people in charge of the government economy go to extraordinary measures to fix the economy -- that can't possibly be their job?!

    my god, what is wrong with these people??

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  17. I work on Wall Street, where we are all laughing at the idiots in Congress.

    The Republican letter is an attempt to politicize the Fed's actions. I wouldn't place much faith in that happening, the only political party the Fed listens to is the Money Party.

    The simple fact is that the government puts a lot of bucks into big business year after year through wars and wasteful spending. The only people Wall Street truly fears are the Elizabeth Warrens and the Ron Pauls who threaten to pull the plug on much of this government largesse. Letters from dipshit politicians? Not so much.

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  18. imnofred8:50 AM

    The Republicans don't give a flying fuck about the economy. Their main goal, as has been stated several times, is to get Obama out of the White House. The worse the economy is, the better for Republicans so why do anything that may actually help the economy.

    This is not patriotic and as others have said, it borders on treason.

    What happened to the oath that they took to put the American people first?

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  19. Firecracker9:08 AM

    @Imnofred, I think you might be confused as to which "people" they serve. They only serve the corporate persons. Which are sitting on a record of amount of cash in foreign accounts.

    Good luck with the letter to the Fed, boys. I assume that Bernanke will get a good laugh out of it. The Fed is designed to be insulted from political pressure. Bernanke should send a letter back telling them to mind their own business and to focus on their area of influence, fiscal policy. He should also request that they stop their stupid political games and actually do something to help the economy recover.

    The idea that any one of these idiots has any understanding of macroeconomics is completely laughable.

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  20. Gryphen, I wonder if I could ask you and your readers a big favor. I posted a five star (highest) review of McGinniss's book on Amazon, and I am getting ragged on my "negative" voters. Since I value my ranking on Amazon - I'm #161 in the whole country - I'd like to have some "positives" added to the voting on my review. I mention you and your blog in my review.

    Anyway, if you all would like to help a poor, pathetic Amazon reviewer, please go to the book, and then look under "5 star" reviews. My name's "Jill Meyer". If you could vote "positive" for my review, I'd sure appreciate it!
    Thanks.

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  21. Anonymous11:44 AM

    The Dems in Congress need to be publically supporting President Obama and you hear nothing from them. The majority of them are just as bad as the Republican led House. What assholes. They ALL need to be voted out - new people put in w/tenures and like benefits as the rest of the U.S. citizens.

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  22. That's the snap of the four most useless humans wandering this small patch of our rock... Just standing there together, one wish one could have is to just drop a net over the four of them, than helo them swiftly away to some 'undisclosed location' so they just vanish...... Gone... POOF !!!

    The problem... Rethuglicons are kinda like the group al Quida, you remove the top layer of their leadership and another one just pops up... Same with rethuglicons.... Like insects or a virus... Gotta be some way to stop that, hry?.?

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  23. Anonymous5:50 PM

    The biggest hoax perpetrated on our coutry was the show "The Three Stooges", because there were ACTUALLY four, so it's fair to call these seditious idiots who lead the Republican Party in their hatred of anything to do with President Obama, the three stooges.

    The gall these people show is beyond comprehension. Look at the stock market in Europe these past months, when America catches a cold, everyplace else has pneumonia. Greece, Portugal, France, etc. are going down the drain, about the only country in the EU that's breaking even is Germany. Today, China and Japan's markets tanked, and ours followed suit. What these isolationist idiots don't understand, is that the world is interconnected, and for America to lead, we need compromise.

    This is all politically motivated. Orange Cheeto Weepy Man was on tv ASSURING the coutry we won't be taken to the brink again on the debt issue. Anyone willing to take bets which party will delay, fillibuster, stomp their feet, and protect the rich to the last minute?

    At any rate, this bodes very well for our President's chances at winning the next election. It won't be easy, but we'll get it done, we must get it done, for the sake of the next generation.

    Boehner has an abyssmal record compaed to Nancy Pelosi as a leader who gets things done. What the Republicans need is to get their house in order, and Boehner isn't the person for the job, neither are any others.

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