Video: IN Gov Mitch Daniels On Obama & The Economy

In 3 parts: Daniels: Not Good Enough Just for GOP to Win Presidency -- Must "Enact Major Changes" 

Mitch Daniels: "Is Our Democracy Up To This?" 

Obama Has "Wrong Set of Biases" for Dealing with Economy, Indiana Gov. Daniels Says 

Video: The State Of The Economy Is Your Responsibility, Mr President

Via Publius Forum on YouTube:

Captain of Titanic: You’ll Realize Later I Wasn’t A “Bad Captain Of The Ship”

Guess which one really said it:

You’ll Realize Later I Wasn’t A “Bad Captain Of The Ship” - Captain Edward John Smith of the Titanic, which sank in 1912 due to his insistence on full speed ahead in known iceberg waters

You’ll Realize Later I Wasn’t A “Bad Captain Of The Ship” - Captain Joseph Hazelwood of the Exxon Valdez, who drank on the job as he grounded his ship leading to largest oil spill in US history

You’ll Realize Later I Wasn’t A “Bad Captain Of The Ship” - Community Organizer-In-Chief Barack Hussein Obama, socialist/Marxist who while drunk on liberalism commanded the US economy to turn into an iceberg, then grounded the economy causing greatest recession since The Great Depression

Answer?

From Weasel Zippers: Obama: You’ll Realize Later I Wasn’t A “Bad Captain Of The Ship”…

Brian Williams: You see what’s out there. You see what’s being said about you. What do you say to those Americans who voted for that man on the poster that said “hope”?

Barack Obama: Well, what I would say is that for the last two and a half to three years, we have been working tirelessly and nonstop to deal with the worst economic crisis of our lifetimes, and ultimately I’m going to be judged by whether we have stayed focused on making sure that this economy is moving in the right direction. And like the captain of a ship in a storm, you know, when the ship is rocking and people are getting hurt, they’re not going to be happy, no matter how good the captain’s doing. Now, my hope is that when we are on the other side of it, folks will look back and say, “You know, he wasn’t a bad captain of the ship.” What I tell everybody I meet whether they voted for me or they didn’t is, “This country always gets through these storms. We always right the ship. And we will this time as well.”

The video:

Visit msnbc.com for breaking news, world news, and news about the economy

Good luck with that, cupcake!

Video:Obama Econ Advisor Gene Sperling on Horrible Jobs Numbers: Blame Bush!

A reminder of Obama's job creation in August:

Obama was elected nearly 3 years ago. When he came into office he had an overwhelming majority in the US House, and a filibuster-proof supermajority in the US Senate. And after ramming through all the bad legislation that he wanted through Congress, and all the bad regulations through his minions in the bureaucracy, all we have to show for it are lost jobs, high unemployment, and a mountain of bad debt. If only we could have gotten a lousy t-shirt instead.

How much longer can the regime possibly blame Bush? About 14 more months. And that'll be that. Via BreitbartTV

Bad Anniversary: Obama August 30, 2010 - Says He'll Have A Plan For The Economy After Returning From Vacation

One year later, no change whatsoever:

Related via Instapundit:

WHITE HOUSE: Obama Still Hasn’t Finished His Jobs Plan. “He is still having conversations and meetings and looks to finalize his plan, so the answer is no, he’s not complete with that process.”

Maybe not having a plan is his plan, just like in the movie Singles.

White House Press Corps To Jay Carney: "When Does It Become Obama's Economy?"

I guess even the liberals in the White House Press Corps are getting sick of the excuses. You can only take so much bs before your nose starts running indicating you are full:

Actually, her question was already answered by the DNC Chair 2 months ago: Video of DNC Chair Debbie Wasserman Schultz on the economy: "We clearly are responsible"

Economists: you should keep spending beyond your means to help the economy

People still don't get it. At least some. The boom that came during much of the 90's and 00's wasn't built on true wealth but rather on debt. It was artificial and any economist worth their salt would tell you not to go back to the mirage. Yet there are those that deluded enough with Keynesian economics to suggest we simply reinflate the bubble all over again:

Economic experts say that while you need to be careful, you should not allow yourself to be spooked by the economic swings.

In other words, spend more, even beyond your means, and save less:

But don't worry.Since consumers have cut back, Obama will force you to spend more anyway. When the government goes into massive deficit spending, they are basically taking your money and mine and pissing it away to artificially prop up the GDP. Of course, we'll be stuck with a huge credit card bill. Just remember this: Flashback: Obama in 2008: Adding $4 Trillion to National Debt ‘Unpatriotic’

Good News: Q2 GDP revised sharply downward to only 1.0%

That's right - the GDP last quarter was almost 25% less than what the feds told us it was. Via Ed Morrissey:

People may have been disappointed with the initial Q2 GDP estimate of 1.3% from the Commerce Department announced last month, but that turned out to be the high point for American economic measures this year.  Commerce revised the estimate sharply downward today to 1.0%, as numbers from the quarter begin to firm up:

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.0 percent in the second quarter of 2011, (that is, from the first quarter to the second quarter), according to the “second” estimate released by the Bureau of Economic Analysis.  In the first quarter, real GDP increased 0.4 percent.

The GDP estimates released today are based on more complete source data than were available for the “advance” estimate issued last month.  In the advance estimate, the increase in real GDP was 1.3 percent (see “Revisions” on page 3).

The increase in real GDP in the second quarter primarily reflected positive contributions from nonresidential fixed investment, exports, personal consumption expenditures (PCE), and federal government spending that were partly offset by negative contributions from state and local government spending and private inventory investment.  Imports, which are a subtraction in the calculation of GDP, increased.

According to Reuters, economists expected a revision down to 1.1%, and says the US is now on “recession watch”

This terrible news comes on the heels of an even worse one less than a month ago: WE'RE BEING LIED TO! First Quarter GDP revised down to 0.4% from 1.9%. And the 1.3% Q2 number that is now being revised down to 1% was blamed on high gas prices.I'll just point out that OBAMA WANTS THOSE HIGH GAS PRICES AND CAUSED THEM! Once elected, Obama went right to war with oil, so vehemently that a federal judge found Obama in contempt for usurping the US Constitution: Shocker: Judge holds Obama regime in contempt over illegal drilling ban. That coupled with Obama's incompetence at any semblance of foreign policy is setting up a nightmare scenario for oil prices that will hurt our economy. Gas is already above $4 a gallon here in Michigan and most expect that the $5 threshold will be breached across the nation this year (From The Detroit Free Press: Is $5-a-gallon coming soon?). High gas prices are exactly what Democrats and Obama want. O said so himself:  Flashback 2008: Obama says he wants gas prices to go up

Hope and change indeed... for the worse.

UPDATE: Via drudge: Bernanke: No new steps to boost economy... It's actually the best that we could hope for with the track record of this regime.

UPDATE #2: Nobel Laureate Sees 50% Chance of Global Slump

Nobel laureate Michael Spence spoke yesterday in Hong Kong with Bloomberg's Robyn Meredith about the outlook for the global economy. Spence’s remarks follow cuts in global growth forecasts by institutions from Citigroup Inc. to UBS AG as central bankers from around the world gather for a Federal Reserve symposium this weekend in Jackson Hole, Wyoming.

Of course: Obama blames Congress for recession

Here we go again:

From al Reuters: Obama accuses Congress of holding back U.S. recovery

A vacationing U.S. President Barack Obama accused Congress on Saturday of holding back the U.S. economic recovery by blocking "common sense" measures he said would create jobs and help growth.

..."The only thing preventing us from passing these bills is the refusal by some in Congress to put country ahead of party. That's the problem right now. That's what's holding this country back," the president said in his weekly radio address, which is also transmitted on the Internet.

"We're going through a tough time right now. We're coming through a terrible recession," he said. "So we need folks in Washington -- the people whose job it is to deal with the country's problems, the people who you elected to serve -- we need them to put aside their differences to get things done."

Actually, the GOP is getting done what they were elected to do - stopping Obama from further destroying the US economy. The GOP had an appropriate response to The One:

...In the Republicans' weekly address, Ohio Governor John Kasich said it was wrong for the president to stand aside and blame others for the impasse that has also affected legislation related to immigration, energy and other issues.

"Divided government is no excuse for inaction," said Kasich, a former chairman of the House Budget Committee.

"There's just no substitute for leadership from the president of the United States," Kasich said. ...

Instead of leadership, we have a manchild that is unqualified for office. At least until next November.

UPDATE: