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Notorious Right-Wing Economist Tells Fox News Obama Caused the Financial Crisis—Two Years Before He Took Office

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On Monday, right-wing economist Arthur Laffer went on Fox News and warned that if Bernie Sanders is elected president, he would cause a financial crash just like the one Barack Obama caused in 2007 — two years before he took office.

“By giving to those who have a little bit less, you provide them with an alternative source of income, other than working, and they too will produce a little bit less,” said Laffer, who is best known for his belief that tax revenues will go up the more you cut taxes for the rich, and who helped design the package of tax cuts that wrecked the state of Kansas. “Now this is math. It’s not left-wing, right-wing, Republican, Democrat, it’s not liberal or conservative. It’s just plain economics.”

“Whenever you redistribute income, you reduce total income, and that is what [Sanders is] doing, and I’m very afraid that if he were elected, we would have an enormous crash in the market,” said Laffer. “Now that crash would come in anticipation of his election, but it’s much like Obama, who I believe was the reason we had the Great Recession. As he got closer and closer to winning, the markets collapsed.”

The actual cause of the 2007 financial crisis and ensuing recession was a runaway mortgage market that bundled together bad loans to sell as high-yield investments on Wall Street. This problem started years before Obama was even conceived of as a presidential candidate. Moreover, the economy rebounded and then some once Obama’s policies were actually implemented.

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AMERICAN IDIOT

Watch: Director of National Intelligence Appears Dumbfounded Over GOP Senator from Alabama’s Questions

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3 years ago

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May 10, 2022

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U.S. Director of National Intelligence Avril Haines appeared politely dumbfounded by questions from Alabama freshman U.S. Senator Tommy Tuberville, as he seemed to suggest the United States Intelligence Community should not be assisting Ukraine in Russia’s unprovoked and illegal war.

“Good morning, Director Haines,” Tuberville, a former college football coach began in a Senate Armed Services Committee hearing Tuesday. “In your best assessment does Russian intelligence closely monitor our Secretary of Defense?”

“Russian intelligence tries very closely to monitor all of our senior leaders,” Haines patiently replied.

“Thank you,” Tuberville continued. “So you believe that noted that when he or ah, when he or said that Russia weakened and that the U.S. will move heaven and earth to arm Ukraine, do you believe that’s right he should say that?”

“Yes, I think Secretary of Defense should say –” Haines responded before being cut off.

“Do you believe Russia blames the U.S. intelligence community for helping Ukraine shoot down a Russian plane carrying hundreds of people?” Tuberville asked.

“I’m sorry, sir. Can you repeat the question?” Haines, not understanding what Tuberville was talking about, requested.

“Do you believe Russia blames us, our intelligence agency, for Ukraine shooting down a plane with hundreds of troops on board? Do you think Russia blames us for that?” he asked.

“Which plane are you thinking of?” Haines inquired.

“There was a plane recently that was shot down, a Russian plane that had 100 troops. Do you believe that they blame our intelligence agency for that?”

“I don’t know sir.”

“Okay. Do you believe that Russia blames our U.S. intelligence for sinkin ah their flagship, Moskova? Do you think they blame us for that?”

“I don’t know sir. We haven’t seen any direct reports –”

“To what extent you access [sic] that Russia believes it is at war with the west and United States? Do you think that they believe they’re at war with us?”

“Russia has historically believed that they are in a conflict, in effect, with NATO and the United States on variety of issues including in cyber and so on.”

“So you believe that they’re fighting us? That they’re they’re fighting us as well as they’re fighting Ukraine? Correct?”

“In a sense, their perception. Yeah.”

“Because we’re arming them and we’re talking. Okay.”

Tuberville’s apparent defense of Russia, his apparent implication that the U.S. Intelligence Community should not be assisting Ukraine is not only ill-founded and wrong, it lies in his tragic misconception of what is actually happening.

“As the Alabama Republican sees it,” MSNBC reported in February about Tuberville, “Russia invaded Ukraine because it’s a ‘communist country’ in need of ‘farmland.’ That’s not even close to being true.”

In October, before Alabama voters chose Tuberville over incumbent Democratic Senator Doug Jones, “the Alabama Media Group’s Kyle Whitmire noted, ‘Tuberville is in hiding,'” that same MSNBC report stated. ” The columnist added, ‘[I]f a campaign won’t let its candidate speak openly because he can’t do so without saying dumb things that hurt his chances of winning the election, what the heck is going to happen when he’s in the United States Senate?'”

Now we know.

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AMERICAN IDIOT

‘Person. Woman. Man. Camera. TV.’: Trump Mocked After Saying He Aced the ‘Aptitude’ Test (It Was a Dementia Test)

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3 years ago

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April 21, 2022

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Donald Trump Thursday evening stood in front of an audience at an event hosted by the right-wing Heritage Foundation and bragged about “acing” an “aptitude” test near the end of his one term as president.

He was either forgetting what the test was, lying about it, or had been lied to.

“They actually were thinking about an Article 25 when I said that,” Trump declared, referring to the 25th Amendment to the U.S. Constitution that provides a mechanism to remove a president from office other than via an impeachment conviction.

“They don’t think about it now, the 25th Amendment. They don’t think about that now at all, they never mention the 25th. But they would never – any time I had a great idea they would mention –’25th Amendment, there’s something wrong with him.'”

“I took the aptitude test and I aced it according to Doc Ronny,” Trump continued, referring to then-White House Physician Dr. Ronny Jackson, who is now a Republican U.S. Congressman and under ethics investigation.

“And a whole group of doctors, I aced that aptitude test,” he falsely claimed. “And that’s a test that even some geniuses in this room will not do that well on. It’s not that easy a test.”

Trump is wrong on all counts.

As The New York Times reported at the time, “‘Person. Woman. Man. Camera. TV.’ Didn’t Mean What Trump Hoped It Did.”

“The president said on Fox News that he had to remember those words as part of a test that he said demonstrated his mental acuity. But the test, the Montreal Cognitive Assessment, is meant to detect signs of dementia, Alzheimer’s disease or other conditions.”

This was Trump in 2020:

And this was Trump Thursday evening:

Numerous people on social media tweeted, “Person. Woman. Man. Camera. TV.” in response.

More:

“You tried to buy Greenland.”

“I don’t think he understands this actually makes him look bad, not good.”

“And to think, there are people who would debase themselves for this man…”

“I’m so thankful for Biden and every single person in his family and administration. Yes, our government needs work. It always will. The disgust I felt when this guy was ‘in charge’ is something I’m still trying to recover from. A pure revolt that I was forced to take head on.”

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AMERICAN IDIOT

‘Let Me Explain How Diplomacy Works’: Psaki Forced to Explain US Response to Russian Attack to Fox News’ Peter Doocy

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3 years ago

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February 25, 2022

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White House Press Secretary Jen Psaki on Friday was forced to explain to Fox News’ Peter Doocy how diplomacy in international conflicts works.

Doocy tried to suggest that President Joe Biden has done nothing to restrain Russian President Vladimir Putin from attacking Ukraine, even as world leaders have presented a united front in the face of Putin’s illegal war, and even as the hosts on the top shows on Doocy’s network have been praising Putin.

“There’s a report in The New York Times,” Doocy told Psaki, “that you guys kept asking China to help you stop Russia from invading Ukraine, and they didn’t. So what have you guys done throughout this slow moving Russia crisis that has worked?”

Stunned at the ignorance of his question, Psaki asked: “In what capacity?” forcing Doocy to actually list some of the many things President Biden and his administration have done over the past month or more to try to silence Putin’s drums of war.

“Well, the President talked to Putin,” Doocy began. “He talked to the G-7. He threatened sanctions. He put sanctions in place. Now he says the sanctions are going to take 30 days, or about a month. Do you guys think the people in Ukraine have about a month?”

“Well, Peter, let me just take a step back and explain to everyone how diplomacy works and how our approach from the United States has worked,” Psaki replied. “What the President has done is he has built a global coalition to stand up in the face of President Putin and President Putin’s aggression and invasion of Ukraine. What he has done is he has rallied the world, our European partners, even at cost to them in some capacities, to put in place significant sanctions, historic sanctions, that would have an enormous impact on the Russian financial sector. It is President Putin’s choice to go to war and invade Ukraine. That is what he has done. It is our choice and our responsibility and the role of the President in the United States to rally opposition and make sure they feel significant pain from that choice. That’s exactly what we have done.”

 

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