In Response to A President who has No Understanding of Basic Economic Theory. : Obama has a bunch of economists working with him that know more than your FOX news pundits.    The republicans in Sept voted against penalizing companies for going overseas....they won't support a JOBS BILL. If Obama was a dictator we would have all you want & we all want...the conservative obstruction where the Obama-democrats never had the 2/3 of senate 60 votes and the republicans used the fillibuster and silent holds for not getting things done. Now Obama is getting the blame for IT.. GOOD JOB republican party you did it again success in spreading your propaganda . The Bush tax cuts around 2003 didn't just produce fewer jobs than advertised. They didn't produce any private sector jobs at all. The whole experiment in handing over money to the wealthiest people was a colossal -- empirically verifiable -- failure. The Bush administration created about three million jobs (net) over its eight years. Obama inherited GW's mess....and we are just starting to recover when people want to vote the republicans back into power ? OMG So, how have the Republicans managed to persuade Americans to buy into the whole “Obama as big spender” narrative? It might have something to do with the first year of the Obama presidency where the federal budget increased a whopping 17.9% —going from $2.98 trillion to $3.52 trillion. The first year of any incoming president term is saddled—for better or for worse—with the budget set by the president whom immediately precedes the new occupant of the White House. Indeed, not only was the 2009 budget the property of George W. Bush—and passed by the 2008 Congress—it was in effect four months before Barack Obama took the oath of office. What are you suggesting for a FINALE here------it's better to  vote for the T he greed-heads who are coming for us, with their Ryan Budget and their Medicare vouchers and their Social Security cuts and their Medicaid block grants and their student vouchers and their privatization. Now, they're coming for us
Posted by JANMB

What you write is Fox News side of the story.   The other reason price of oil is dropping is demand is down due to Europe's economy which is in shambles (which has nothing to do with Obama) and driving the price down.  If I remember correctly this mess started on the other President's watch when our loan institutions invested heavily in those (Socialist)  European economies and were dragged down when Europe started going down.  Speculators did drive up the price of oil when Iran was stupidly threatening Shipping on the Gulf but that is gone for now so they did have some to do with the price going up (that Obama took care of).  But the President has nothing to do with the price going up or down outside of this country.  World economies do.  But the President should take credit for the price dropping, Mitt would since he is crediting himself for bailing out the Auto Industry.   The only thing the main stream media does is print what they observe, not exactly what you want to hear.    Sometimes it's hard to handle the truth especially if you belong to the Tea Party. ONe other thing if it wasn't for the Govt. banning the use of DDT a while back we wouldn't  have any water fowl left here in Louisiana and no telling what else.  Even you as a chemist know the dangers of using chemicals without knowing to long term effects of the agents.  When it comes to money we rush into things regardless of the consequences.   If people need jobs they ought to move here to Louisiana,  I see ads in the local paper that the oil fields are hiring and can't find enough workers.  Drilling is up 17% and not workers can be found. In Response to A President who has No Understanding of Basic Economic Theory. :
Posted by creppelrm

Remember how about a month ago Obama railed against the "speculators" who he said were driving up the price of oil. WTI had climbed to about $115/barrel. WTI is down to around $87/barrel today. You don't hear any more talk from the president, although I'm surprised he doesn't take credit for it. The simple fact is that the price of commodities, be they oil, gas, wheat, corn, sugar or anything else is determined by a balance of supply and demand and ANTICIPATION of changes. In the case of oil the price went up because of fears of the iran situation and hopes that there may be a recovery. It went down when the Saudis and Iraquis added to the supply and we realized that the economy is still in the tank. What amazes me is that Obama tells how the unemployment rate is dropping, something the lamestream media have seized upon, but fails to note that such a high number of workers are out of work. Only 75% of the workers in the 25-54 age group, the prime working age, are employed. This contrasts with 80% of that population before Obama came in. A large part of this situation is due to the fact that his administration has placed such onerous regulations on businesses that they will not hire. For those of you who think only fossil fuels are effected, I saw this interesting piece on how EPA regs are placing California strawberries on the endangered list, because they are forbidding the use of MeBr which is used as a pesticide. No other substitute is currently available.
Posted by Labrat64

In Response to A President who has No Understanding of Basic Economic Theory. : My grandparents grew strawberries & didn't use MeBr ...the chemical companies are complaining though cause they can't poison us.       But overall,  now maybe you are beginning to realize  what your vote for Bush & republicans have cost not only you....but the entire country. when republicans handed down a complete mess and never FIXED anything in 8 years time.   Obama has a panel of economists & gets a daily economic briefing from  the chief White House economic adviser. Christina D. Romer , the chairwoman of the Council of Economic Advisers .     It's going to be a long road back again to sanity.    
Posted by JANMB