How in the world can we go wrong with Larry Summers telling us that the Tax giveaway to the Rich is what America needs?
The same Larry Summers who supported repealing Glass-Steagall so his alma mater Golden Sachs could pillage the country with such creative tools as Mortgage backed Securities and Credit Default swaps.
The same Larry Summers who went to the mat to prevent those Credit default swaps from getting regulated. That would be the credit default swaps that cost the taxpayers hundreds of billions of dollars that got funneled through AIG and just happened to end up in big banks all over the world. The same Credit default swaps that Warren Buffet called economic weapons of mass destruction.
The same Larry Summers who devised the 1st stimulus, which had a bunch of worthless tax cuts like this stimulus, which was misdirected and too small, which didn't work to provide long term growth.
Thanks Larry! With you at the economic helm supporting this Deal, how in the world could we ever think that this deal might suck to high heaven, and will more than likely be another gut punch to the economy that will devastate what's left of the middle class!
What's that you say Larry?! What's that you say?!
You say if the Dems stop this pig, it will lead to a double dip recession?
Senior White House officials significantly raised the stakes on congressional Democrats in their efforts to get a deal passed on the Bush tax cuts, warning on Wednesday that inaction would "significantly increase the risk" of a double dip recession.
It wasn't quite the metaphorical flare of mushroom cloud imagery, but outgoing senior economic adviser Larry Summers offered a fairly dire assessment of the stakes in the tax cut debate.
"If they [Democrats] don't pass this bill in the next couple weeks it will materially increase the risk that the economy would stall out and we would have a double dip," he told a gathering of reporters at an off camera briefing.
A double dip recession?
"What I said it would significantly increase the risk," Summers replied.
Thanks a lot you freaken idiot!
So if we don't pass this peace of crap, and the economy keeps heading south like it is now, it'll be the DEMOCRATS fault. And if we do let this piece of crap pass, which has already shocked the bond markets to the point that interest rates are starting to rise and will continue to crush the economy, IT'S THE DEMOCRATS FAULT!
Who the HELL is running the show at the white house?! What a brilliant move to blame the Democrats for the economy failing no matter what they do. Right out of the political play book of Karl Rove!
This administration HAS to go!