Saddam had signed $60B worth of contracts with the French, to distribute the oil allowed under the UN sanctions (oil for food) and also contracts with the Russians to develop new finds in the North, Iraq's Curdish area, the Russian part worth over $2T over the next decade or so, provided that the sanctions be lifted... not to mention special deals with the Chinese for preferential treatment wrt Iraq's oil.
aka, liberating our hard earned money from the evil/incompenent clutches of this socialist government and delivering it back to those who would use it for good, eg, creating jobs for the 23 million or so of those among us who would rather work than beg Obama for "free" goodies all the time in exchange for their vote.
Except that W has the very worst track record on net jobs created: http://blogs.wsj.com/economics/2009/01/09/bush-on-jobs-the-worst-track-record-on-record/ All the while creating an unnecessary budget deficit from the surpus handed to him on a silver platter by Clinton. Yes, Bush certainly liberated that surplus for the good of the children.
House Votes to Extend Tax Cuts for All Through 2013 NewsMAx The U.S. House of Representatives voted to extend tax cuts through 2013 for all income levels, defying a veto threat from President Barack Obama. The 256-171 vote, mostly along party lines, continues a stalemate on tax policy that lawmakers say will last beyond the Nov. 6 election. Nineteen Democrats voted for the Republican bill, and one Republican was opposed. The measure wonât advance in the Democratic-led Senate. âThe choice Republicans have made is to pass this bill, work toward comprehensive tax reform and create jobs,â said Representative Dave Camp, a Michigan Republican and chairman of the House Ways and Means Committee. âNow is not the time to dig the hole weâre in any deeper.â Obama and congressional Democrats want to let the tax cuts expire for top earners, and each side is accusing the other of holding the country hostage to get its way. If Congress doesnât act by the end of the year, tax rates for income, capital gains, dividends and estates will increase for all taxpayers. The top income tax rate would increase to 39.6 percent from 35 percent, and the top rate on capital gains would rise to 23.8 percent from 15 percent. The tax increase is part of the $607 billion so-called fiscal cliff of automatic spending cuts and revenue changes in 2013 that the Congressional Budget Office says would probably cause a recession if left unchanged. On July 25, the Senate voted 51-48 to pass a plan supported by Obama that would let the tax cuts for top earners expire. The House rejected that approach earlier today on a 170-257 vote. Familiar Themes In the House debate, lawmakers reprised familiar themes about the potential effects of higher taxes. Republicans said the Democratic proposal would hurt the economy with a disproportionate effect on business owners who pay taxes on their profits through their individual returns. âThe choice is clear: you either want growth or you want more taxes,â said Representative Eric Cantor of Virginia, the House majority leader. âYou either want to endow the folks who earn the money with the right to keep that money and grow this economy, or you want to tax those people more and let Washington decide how itâs going to allocate that money.â Democrats said high-income households can afford to pay more to help reduce the federal budget deficit. Over a decade, the Democratsâ plan would generate at least $900 billion more money for the government. Most of the Republican planâs benefits would go to millionaires, including rock stars and business executives, said Representative Steve Cohen, a Tennessee Democrat. Spending Money âThey can afford to pay it,â Cohen said. âTheyâre not spending their money. We need Americans who spend their money to stimulate the economy.â The Democrats backing the Republican plan included Larry Kissell of North Carolina, Bill Owens of New York, Gerry Connolly of Virginia and Jim Costa of California. The lone Republican to vote against his partyâs plan was Timothy Johnson of Illinois. Democrats tried to draw attention to the Republicansâ decision not to extend refundable tax credits created in the 2009 economic stimulus law that benefit college students and low-income families. That may include some low-income military families, Democrats said. âAt All Costsâ âThis debate is not about tax reform,â said Representative Sander Levin of Michigan, the top Democrat on the Ways and Means Committee. âItâs about whether or not we protect the very wealthy at all costs.â Republicans said Congress needs to keep the estate tax from increasing. The Senate bill wouldnât address the estate tax, a decision Democrats in that chamber made because of divisions within their party. If Congress doesnât act, the per-person tax exemption for estates would drop to $1 million in 2013 from this yearâs $5.12 million, and the top rate would increase to 55 percent from 35 percent. The House will vote tomorrow on a separate Republican proposal to establish a fast-track process for considering a tax-code overhaul in 2013. The measure sets out parameters for an overhaul, which would cut the top corporate and individual tax rates to 25 percent from 35 percent, combine the six-bracket system into two and curtail or eliminate tax breaks. âWe do not need the politics of envy and divisiveness,â said Representative Blake Farenthold, a Texas Republican. âWe need tax reform and this puts us on the path to do it.â The Republican bill is H.R. 8. The Democratic alternative is H.R. 15. The Republican tax overhaul process bill is H.R. 6169. The Senate-passed bill is S. 3412.
And since you're looking at numbers from beginning to end of a president's term, which is fair, don't forget that until the end of this past June, Obama's record is -473,000 jobs... he needs a miracle to even break even by the end of his term... the guy is at the very bottom of the ladder, a real dud, period. Let's get Romney to the Whie House, give him the House and the Senate on top of that, he knows how to solve this type of problem: he'll promote the good folks and fire the dead wood, send some businesses overseas and bring some others here, control the unions and entitlements before they destroy our economy, create prosperity for all of us... What do you say?
No, Romney does not know how to solve this type of problem. Cutting FTEs does not improve the bottom line of an economy.
If a business can only be competitive with 1000 jobs and it currently has 1500, you cut the 500 - that's the only way. Then, the business comes back to life and next year or later hires more people. In the meantime, the economy grows because money keeps coming in and the laid off folks are hired by other businesses that are also benefitting in the thriving economy. In this way, workers are given good/solid messages: continue improving yourself and pick up new skills every year, don't gain 300 lbs and a side drug problem in your 40s, never think that the union will take care of you and that management is the enemy, show your boss that you can make a positive difference... and, above all, remember that you are in competition with younger and hungrier people in other parts of the world. Running a company at its optimal level means that you have the maximum level of productivity (few people, lots of technology, good management.) That's how the economy prospers in the long run.
Notice when most of the job loses under Obama occur ,Obamas fisrts months in office before he passed legislation and before that legislation could have an effect.The last 3 years there has been over 4 million jobs created <iframe width="420" height="315" src="http://www.youtube.com/embed/ArRj-dQXX3Y" frameborder="0" allowfullscreen></iframe>