Obama team credits itself, and blames Bush, more than reality

http://tinyurl.com/y8ctyt9
Obama report: 95,000 jobs to come each month
****The Obama economic team claims the stimulus package saved 2M jobs and blamed Bush for losing 700K jobs each month and bequeathing a mess to Obama.**** ...Recognizing voters were likely to hold Obama to account for the economy, the White House team cast blame on their predecessors and unpopular Wall Street bankers... — we certainly inherited an economy with a number of economic problems."...Indeed, even adding an average of 95,000 jobs each month, unemployment is likely to remain around 10 percent through this year and not fall below 6 percent until 2015....It will be even tougher if Americans continue to save at high rates — somewhere in the 4 percent to 7 percent range —...***A strange judgment: where are the banks going to get funds to lend w/o people saving their money and lending it to banks? The more deposits banks have the greater the pressure to lend. Unfortunately, it's been safer to lend this money to the government since there's a big difference between the short-term rates paid to depositors and the higher rates of Federal non-risk debt. If Obama knew his ass from a hole in the ground about jobs, he would concentrate on making business less chancy and more profitable for businesses to expand. When a government is hostile to capital, capital goes on strike. Unemployment benefits are NOT stimulus ( they encourage workers NOT to look for jobs.)Anything that lowers the bar for an employee to be able to create more value than he costs IS stimulative of jobs: business tax cuts, regulatory certainty, personal tax cuts to make take-home pay greater for the same productivity.****