Chamber of Commerce Warning: Dem Policies Will Lead to Double-Dip Recession
Posted by Jim Hoft on Tuesday, January 12, 2010, 6:12 AM
The president of the US Chamber of Commerce warned today that the US may experience a double-dip recession thanks to the policies of Barack Obama and the Democratic Congress.
Tom Donohue, the Chamber president, also warned democrats that the Chamber will be more active in the 2010 elections and will target politicians who vote against the group’s priorities.
Obama and the democrats tripled the US national deficit in one year.
The Hill reported:
U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces a double-dip recession because of the taxes and regulations under consideration by the Democratic Congress and President Barack Obama.
“Congress, the administration and states must recognize that our weak economy simply could not sustain all the new taxes, regulations and mandates now under consideration. It’s a sure-fire recipe for a double-dip recession, or worse,” Donohue said in a speech providing the Chamber’s outlook for 2010.
Donohue said the lawmakers should not let former President George W. Bush’s tax cuts expire at the end of year and lambasted Democratic efforts on healthcare and financial regulatory reform as well as climate change.
If the tax cuts are allowed to expire, “we will likely end up with even bigger deficits and greater economic misery,” Donohue said.
Many tax lobbyists expect Congress to extend the cuts for people with lower tax rates, but to allow higher rates to be reimposed on those in the top bracket.
He also faulted Obama and Democratic lawmakers for not doing more to create jobs.
Donohue criticized a separate tax on banks floated by the administration on Monday, and said that the rationale for any tax increases would be increased spending, not lowering huge budget deficits exacerbated by the recession.
“We are talking about a massive tax increase in a very weak economy — a tax increase whose clearly intended purpose is not to reduce the deficit, but to pay for more spending,” he said.
He also promised the Chamber would be more involved in the 2010 midterm election than it has been in any other before, and will hold accountable lawmakers who vote against the group’s priorities.
The Chamber this year was very vocal in opposing Obama’s irresponsible health care bill and his job-killing cap and trade policies.
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gus commented:
Obama has zero idea what he is doing.
Melvin Winter commented:
Following Its Campaign to Promote Capitalism, US Chamber of Commerce Reminds Americans “Serfdom Sucks” http://optoons.blogspot.com/2009/10/following-its-campaign-to-promote.html
averagemelon commented:
Get ready, folks. The real storm is coming and it should hit our shores hard this year.
Ladue Pundit commented:
gus
January 12th, 2010 | 12:08 pm | #1
Obama has zero idea what he is doing.
—————
I think he knows exactly what he is doing. It would be too easy to alleviate the misery he has inflicted on this nation–morally, economically, and especially on the national security front.
a jobless recovery
a war with a fixed end point
raising taxes
healthcare for trillions
green jobs for unions
pervert & commie czars
bailouts with retroactive bailout penalties
gus, I only wish I had started a diary a year ago. As evidenced by this website, each day is chocked full of Obama’s manboy-made disasters., each designed to weaken our country into government dependence.
The Chamber is an organization of people who know what it takes to run an economy, and what it takes to sink one.
I am glad they are threatening to become involved in the 2010 elections. It’s people who work VS bums who mooch.
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Joanne commented:
You’ve would have to be an absolute moron to believe higher taxes would pull or even help America out of the recession. Is Obama an absolute moron or is his B+ rating he gave himself really more of a reflection of how well he sees the job he is doing destroying the economy of the U.S.?
There is suppose to be another crash in the housing market in the middle of 2010. Will America be in a position to weather the next storm at this rate?
Joanne commented:
I agree; Obama knows exactly what he is doing. He is doing exactly what every other commie has done – destroyed the economy. If Obama thought he had the U.S. military in his pocket, he would be dumping every spare dime into it to keep himself in power, but instead, he has the defence budget at a near standstill, even though the U.S. is at war on two fronts.
Obama seems to have no idea what he is doing to bring the U.S. economy back, if you think he is trying to do that, but he isn’t; he is doing the opposite and doing a very good job at it.
shibumi commented:
“I agree; Obama knows exactly what he is doing. He is doing exactly what every other commie has done – destroyed the economy.. If Obama thought he had the U.S. military in his pocket, he would be dumping every spare dime into it to keep himself in power, but instead, he has the defence budget at a near standstill, even though the U.S. is at war on two fronts.”
He has ACORN to facilitate voter fraud to keep him in office.
And I completely agree this is being done on purpose, it’s called Cloward Piven Strategy.
JPL17 commented:
Conservatives need to form a well-funded organization now to expose, neutralize and counter the illegal campaign / voter fraud activities of ACORN.
I suggest we call it something like NUTCRACKER.
CommieBlaster commented:
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Check out our COMMUNISTS IN THE US GOVERNMENT News and Reference Site: http://www.commieblaster.com
Facts organized all in one location. Obama, New Party, Ayers, Dunn, Jennings, Jones, Sunstein, Jarrett, Lloyd, Wright, School Indoctrinations, Soros, Cop-Killers, Cuban Spy Rings, Commie Media, Misinformation, Congress Investigation, plus details on Socialist/Communist Members of Congress like Nancy Pelosi, Barney Frank and over 80 others. Listen to Soviet Spy defector explain how communist takeovers are performed and Reagan’s guidance on dealing with Communists. Learn what a Socialist, Communist and Progressive is. Examine ACORN, SEIU’s and Union Communist leaders. See FBI files and testimonies. Catch up on Takeover News and study a Communist Takeover Plan from the 1960′s, along with how to resist. Videos, links, pdfs.
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Bill Mitchell commented:
The Republican Party often reminds me of the Redskins in that they always seem to find a way to blow a lead in the 4th quarter.
It would seem that nothing can stop an electoral slaughter of the Democrats in 2010.
Except ONE thing.
If the Tea Party Movement establishes themselves as a 3rd party thus splitting Conservative votes, we are COMPLETELY SCREWED.
Recall that we got RINO John McCain in 2008 because Conservatives split between Romney and Huckabee in the primaries.
The Tea Party Movement needs to recognize who they are. The are John the Baptist crying in the wilderness, preparing the way. They aren’t Jesus. If the Team Party Movement drags the Republican Party back to it’s conservative roots, it has been a major and welcome success.
If it tries to become a 3rd party, it will be every Democrats wet dream. If Sarah Palin encourages this, she is a fool.
Corporal Vere commented:
Oil prices are now about three times what they were a year ago.
Say goodbye to “recovery.”
Corporal Vere commented:
Oh!!!!
I blame Bush.
Chisum commented:
Generic Congressional Ballot
Republicans Ahead Again By Nine On Generic Ballot
Republican candidates have now posted a nine-point lead over Democrats on the Generic Congressional Ballot for the first two weeks of 2010.
The latest national telephone survey shows that 45% now would vote for their district’s Republican congressional candidate while 36% would opt for his or her Democratic opponent.
Last week, Republicans started the New Year with a nine-point lead, their biggest in several years, while support for Democrats fell to its lowest level in years. Republicans have held the lead on the ballot for over four months now.
The number of Americans identifying themselves as Democrats is down to the lowest level recorded in more than seven years of tracking.
Throughout the fall and winter of 2008, support for Democratic congressional candidates ranged from 42% to 47%. Republican support ranged from 37% to 41%. The two parties were very close on the Generic Ballot throughout the spring of 2009, but Republicans pulled ahead for good in late June.
Last year, Democrats with majority control of both the House and Senate passed a $787-billion economic stimulus plan and bailouts of the financial industry and troubled automakers General Motors and Chrysler. Voters still don’t approve of these measures which were unpopular right from the start.
Looking back, most voters still oppose the government bailouts of the financial industry and the automakers, and a plurality now believe the stimulus plan has been bad for the economy.
The Democratic-controlled Congress also began pushing ahead on a national health care plan last summer which triggered angry congressional town hall meetings and public protests. Overall, 40% of voters nationwide favor the health care reform plan proposed by President Obama and congressional Democrats. Fifty-five percent (55%) are opposed. Support for and opposition to the plan have changed little since Thanksgiving.
Currently, just 17% believe passage of the legislation will achieve the stated goal of reducing health care costs. Fifty-seven percent (57%) think it will lead to higher costs.
This helps to explain why among voters not affiliated with either major party, the GOP leads on the Generic Ballot this week 47% to 22%.
http://www.rasmussenreports.com/public_content/politics/mood_of_america/generic_congressional_ballot
Stephen commented:
The left knows nothing about economics and never has save for JFK, so no surprise there–and yes the worst is yet to come–the inflation on top of the unemployment. They have their own ‘educated idiots’ who make up insane theories in how things ‘might work.’ I doubt it’d be worse than the Carter Years given currently I see no high interest rates but it’s getting there.
Seeing things like this makes me think Opie’s ‘B+’ assessment was all the more insane. Had he passed carbon tax and Obamacare on schedule, he would have gotten a solid C if your left wing because….he did what he said he would do, no more no less. From a LWL point of view, I could see him getting a B+ had he passed both carbon tax and healthcare by his sixth month in office, before he said he would, but then again I’m using logic–absent to the left.
Personally I’d give him a D. For all those who claim F, remember, he could have done worse, and that’s a terrifying thought.
Logus commented:
Well, the Chamber of Commerce can now at its name to the list of people, academics and peons (like me) alike who’ve said for quite some time, if not since last summer, that we’re not going to see a ‘v’ shaped recovery. At best, it’ll be a ‘u’. I’ve a feeling it’s not necessarily going to be a ‘w’, but perhaps a ‘www’ or worse, ‘wL_J’. Another words, rocky, with a very long real recovery, especially if Obama et al are truly trying to orchestrate something dasterdly for our economy and moreso if we get attacked (successfully) again.
audrey commented:
We need to be supporting a growth and prosperity agenda for America! The US Chamber is combating many issues right now – From climate change to our budget deficit and defending consumer choice. Please support the U.S. Chamber’s Fan page and join the conversation *
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