Peter Schiff: "Markets Gave Obama's Jobs Speech the Big Thumbs Down"

SIC SEMPER TYRANNIS!!!
Mark Matheny
September 14, 2011



Peter Schiff talks about the President's recent "Jobs Package" in which Obama failed to call the package according to its true intent - a stimulus package, probably since the term has left a bad taste in the mouths of the "mainstreet american people" who have seen only "Wallstreet" benefitting from the previous stimuluses pushed by the Obama administration.

Peter explains how this "Jobs Creation Package" is just a code name for another failed stimulus meant to help Big government and Wall street once again, while failing to help the millions of Americans directly and adversely affected by the recession.

Peter argues that this recent package being pushed by the Obama administration is the same type of stimulus as the previous failed stimuluses, and will have the same consequenses - more unemployment, higher deficits, and less growth for the nation at large.

"I don't care what you call it, it's bad politics. And the reason the stimulus didn't work, is because it contained the same policies that are now in this Jobs Creation Act."

Peter says that whenever Congress names a bill, usually the bill achieves the opposite goal of its title. If this bill is called the "Jobs Creation Act", then you can be sure it will be a jobs destruction act.

Peter also shows how this "stimulus" bill will add to the deficit starting with $450 Billion this year alone, contrary to what Obama's teleprompter says.