Unemployement Drops: Legitimate or Not?

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Originally Posted by Conservative

I would be happy to admit it if it were true. I don't call 14.7% which is almost 23 million Americans unemployed/under employed/discouraged and 1.3% GDP Growth headed in the right direction after adding 5.4 trillion in debt to create that number.

Further any chart that shows that tax cuts are part of the deficit is nothing more than bull**** and you ought to know that. If by chance you get less revenue by cutting taxes, you spend less not more but in this case from 2003-2008 govt. revenue went up AFTER the Bush tax cuts were fully implemented. This is just another bit of information that you are wrong about. I feel bad for anyone who believes keeping more of what you earn is an expense to the govt. That is total liberal brainwashing.

Thanks for at least admitting you were wrong about the budget and the deficit, now do some more research and you will have to admit you are wrong about the chart as well.

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Hey Conservative, Bush Economists Said Tax Cuts Did Grow the Deficit


1) The Council of Economic Advisers' Report to the President, 2003: "Although the economy grows in response to tax reductions (because of higher consumption in the short run and improved incentives in the long run), it is unlikely to grow so much that lost tax revenue is completely recovered by the higher level of economic activity."

2) The chair of CEA from 2003-2005, Greg Mankiw: "Some supply-siders like to claim that the distortionary effect of taxes is so large that increasing tax rates reduces tax revenue. Like most economists, I don't find that conclusion credible for most tax hikes, and I doubt Mr. Paulson does either."

3) He's right! Hank Paulson, Bush's last Treasury Secretary, doesn't: "As a general rule, I don't believe that tax cuts pay for themselves."

4) That opinion was shared by Andrew Samwick, Chief Economist on Council of Economic Advisers, 2003-2004: "No thoughtful person believes that this possible offset [the Bush tax cuts] more than compensated for the first effect for these tax cuts. Not a single one."...

5) ... and Edward Lazear, chair of the Council of Economic Advisers in 2007: "I certainly would not claim that tax cuts pay for themselves."

Hey Mitch McConnell, Bush Economists Said Tax Cuts Did Grow the Deficit - Derek Thompson - The Atlantic

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Originally Posted by Conservative

I get a big kick out of Obama supporters who are taking victory laps over a 7.8% unemployment rate that cost over 5.4 trillion dollars to create and a decline in median income. Seems that Obama supporters will grab on to anything to re-elect an empty suit incompetent to four more years. Guess the question is why?

Do you think 22.7 million Americans (12.088 Plus 802,000 plus 9.9 million under employed) and 1.3% GDP growth shows an improving economy especially when it was 2.4% growth in 2010, 1.8% in 2011, 1.3% in 2012?

Your definition of success sure is different than reality.

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I didn't call it a big success. I called it barely a bump

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Originally Posted by winston53660

Hey Conservative, Bush Economists Said Tax Cuts Did Grow the Deficit


1) The Council of Economic Advisers' Report to the President, 2003: "Although the economy grows in response to tax reductions (because of higher consumption in the short run and improved incentives in the long run), it is unlikely to grow so much that lost tax revenue is completely recovered by the higher level of economic activity."

2) The chair of CEA from 2003-2005, Greg Mankiw: "Some supply-siders like to claim that the distortionary effect of taxes is so large that increasing tax rates reduces tax revenue. Like most economists, I don't find that conclusion credible for most tax hikes, and I doubt Mr. Paulson does either."

3) He's right! Hank Paulson, Bush's last Treasury Secretary, doesn't: "As a general rule, I don't believe that tax cuts pay for themselves."

4) That opinion was shared by Andrew Samwick, Chief Economist on Council of Economic Advisers, 2003-2004: "No thoughtful person believes that this possible offset [the Bush tax cuts] more than compensated for the first effect for these tax cuts. Not a single one."...

5) ... and Edward Lazear, chair of the Council of Economic Advisers in 2007: "I certainly would not claim that tax cuts pay for themselves."

Hey Mitch McConnell, Bush Economists Said Tax Cuts Did Grow the Deficit - Derek Thompson - The Atlantic

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Just goes to show that economists aren't always right regardless of the party. Better tell that to the U.S. Treasury Dept that shows growth in Revenue up to the Democrats taking control of the Congress and the financial crisis of 2008.

I find it quite interesting how many people who believe keeping more of what they earn is an expense to the govt. and causes deficits. Who says liberal brainwashing doesn't work? Rather frustrating that people like me are even fighting for you to keep more of what you earn. Maybe those calling for more taxes are part of the 47% that aren't paying any FIT, what do you think?

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Originally Posted by Carleen

I didn't call it a big success. I called it barely a bump

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Yep, a 5.4 TRILLION dollar bump!! 22.7 million a bump? I guess that is true for people who aren't paying the Federal Income Taxes that fund the debt service on that debt or aren't one of the 22.7 million unemployed/under employed/discouraged. Are you one of those?

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Originally Posted by Conservative

Yep, a 5.4 TRILLION dollar bump!! 22.7 million a bump? I guess that is true for people who aren't paying the Federal Income Taxes that fund the debt service on that debt or aren't one of the 22.7 million unemployed/under employed/discouraged. Are you one of those?

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Remind me again....are intergovt transfers still happening....you know...SS surplus paying into the general fund?

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Originally Posted by LowDown

The unemployment rate has suddenly dropped just as the President's fortures took a turn for the worst. What does this mean?

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The true national unemployment rate is at 12-16%.

The unemployment formula is flawed - the denominator are those who receive unemployment benefits. Yeah? well what happens when you're booted off unemployment? what happens to those who are temp workers who don't qualify for unemployment? you're in a void where you no longer count via the government statistics - or at least under their formula.

Of course "official" unemployment will drop when the masses continue to lose their benefits, because once they do they fall into a singularity er black hole.

Those who lost their benefits and those who just plain gave up or are living off social welfare aren't counted - not to mention those who have worked temp jobs but are now unemployed don't count...

There are millions of US citizens that fall into those categories.....

All the Obama admin's unemployment numbers (and others relating) show is a shrinking economy....

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Originally Posted by Conservative

Just goes to show that economists aren't always right regardless of the party. Better tell that to the U.S. Treasury Dept that shows growth in Revenue up to the Democrats taking control of the Congress and the financial crisis of 2008.

I find it quite interesting how many people who believe keeping more of what they earn is an expense to the govt. and causes deficits. Who says liberal brainwashing doesn't work? Rather frustrating that people like me are even fighting for you to keep more of what you earn. Maybe those calling for more taxes are part of the 47% that aren't paying any FIT, what do you think?

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Your so special knowing so much mare than the people that actually study the stuff, formulate the plans and put them into place.:roll:

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Originally Posted by Gimmesometruth

Remind me again....are intergovt transfers still happening....you know...SS surplus paying into the general fund?

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SS and Medicare are part of the General fund and still have money going in and going out. In 2011 over a trillion dollars went out and 818 billion came in from intergovt. holdings, so you tell me.

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Originally Posted by winston53660

Your so special knowing so much mare than the people that actually study the stuff, formulate the plans and put them into place.:roll:

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You need to take this up with the Treasury Dept as I simply post their data and their data shows govt. tax revenue doing up from 2003-2008 and tax cuts were in place.

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Originally Posted by winston53660

Your so special knowing so much mare than the people that actually study the stuff, formulate the plans and put them into place.:roll:

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The notion that simple individuals can't learn "complex ideas" is preposterous.

This whole "trust the government because they know better than you" is absolutely nonsense.

Of course, leave it to progressives to trust these lying fools - they'll believe anything Obama says and any lies that come out of the government or press-core.