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Thread: Chronic unemployment worse than Great Depression

  1. #31
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    Re: Chronic unemployment worse than Great Depression

    Heavens to Murgatroyd, what the hell is the matter with you people? As someone once said, you get the government you deserve. You want the government to take care of all your needs, well guess what? The USA federal government is bankrupt, most state governments and many local governments are either already bankrupt or will be soon.

    Why the hell would anyone risk their money and put in the time to start up a company in the USA under these conditions? They have no idea what their costs are going to be; when the government will force them to pick up the cost of something someone thinks is a good idea.

    If they are successful, they will be demonized as greedy bastards and everyone will clamor for the governments to confiscate more of their money.

    No thanks. I am damn glad we got the hell out and invested in places that appreciate our contributions.

    Y'all are in the process of commiting national suicide and, watching from the sidelines, it looks like you are going to accomplish it.

    .

  2. #32
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by j-mac View Post
    ...we have other bigger problems now, such as the culture of spending in DC that absolutely refuse to look at our situation in any meaningful way. We keep the huge unfunded liability welfare programs because we have a culture of the recipiant class voter that is sadly now at nearly half of every voting block out there.

    We need strong leadership, and not lead by the sensational press to focus on specticle BS like Wienergate, and get down to saving this country, if we still want it that is.
    I strongly favor credible fiscal consolidation, fully recognizing that the transition would result in macroeconomic headwinds (reduced GDP growth and reduced employment growth despite fantasy land projections by some politicians that such moves would immediately stimulate the economy). The benefits of fiscal consolidation would be medium- and longer-term in nature (fiscal sustainability, lower interest rates than would otherwise be the case/lower cost of capital for U.S. firms, and a more structurally sound economy).

    Unfortunately, at this stage, the kind of political leadership required to strike a grand bargain for fiscal consolidation, which would require addressing the drivers of the long-term imbalances (mandatory spending programs). At the same time, the public's appetite for credible fiscal consolidation, which must deal with those programs, is largely absent. Hence, there is political advantage to postponing credible fiscal consolidation. So long as such advantage exists, political leaders will have an incentive to pursue that advantage. As a result, my guess is that substantive fiscal consolidation will be postponed. I do expect the bulk of promised fiscal consolidation associated with a hike in the debt ceiling to be described in terms of goals, targets, maybe even a balanced budget amendment, the the balanced budget amendment is a low probability scenario. Nonetheless, goals/targets/balanced Budget Amendment absent policy specifics are not credible. Indeed, the large run-up in state debt occurred despite balanced budget amendments that exist in most of those states.

    The problem is that evading the difficult decisions now will only lead to an even more difficult situation later. The transition would be more painful, as the imbalances would be larger than they would otherwise be. If a crisis erupts (and the probability would be on the increase in the medium-term and beyon on a business as usual path), the U.S. could approach its theoretical fiscal limit. In such a situation, virtually no spending reductions or tax hikes would be sufficient to stabilize debt and avoid a catastrophic economic contraction. Large spending cuts would kill macroeconomic growth, leading to a collapse of revenues, and additional need for further cuts/tax hikes. Large tax hikes would suffocate economic growth, pushing revenues lower and requiring even greater spending reductions. Greece may be on the brink of such a situation. Ultimately, evasion of today's difficult choices, is an invitation to greater problems down the road, even as U.S. strategic flexibility is diminished.

  3. #33
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by j-mac View Post
    You are aware that this is a political message board right?


    j-mac
    Yes it is. Opinions from everybody are welcome here. Opinions show who are critical thinkers who care about America, and opinions also show who the hyperpartisans are, who put petty politics above country. Thanx for showing us all which one you are.
    Last edited by danarhea; 06-07-11 at 07:10 PM.
    The ghost of Jack Kevorkian for President's Physician: 2016

  4. #34
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by TOJ View Post
    Heavens to Murgatroyd, what the hell is the matter with you people? As someone once said, you get the government you deserve. You want the government to take care of all your needs, well guess what? The USA federal government is bankrupt, most state governments and many local governments are either already bankrupt or will be soon.

    Why the hell would anyone risk their money and put in the time to start up a company in the USA under these conditions? They have no idea what their costs are going to be; when the government will force them to pick up the cost of something someone thinks is a good idea.

    If they are successful, they will be demonized as greedy bastards and everyone will clamor for the governments to confiscate more of their money.

    No thanks. I am damn glad we got the hell out and invested in places that appreciate our contributions.

    Y'all are in the process of commiting national suicide and, watching from the sidelines, it looks like you are going to accomplish it.

    .
    Indeed man. The us is getting exactly what it wanted but never knew it was asking for.

  5. #35
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by danarhea View Post
    Ain't that the truth. And while Republicans and Democrats continue to point the finger at each other, our nation continues to burn. So, to Democrats and Republicans both, I am going to be very blunt.

    1) Bush policies began the Great Recession.

    2) Obama policies have continued the Great Recession.

    There is no other way to look at it, except that ALL of our leaders have been selling us out.

    Look, folks here is the deal. I get madder every day I see Bush people pointing the finger at Obama, and Obama people pointing the finger at Bush, while ignoring their own guy. Where the hell is the sense of patriotism and sacrifice that existed in the 1930's, when our leaders put America before politics? If America goes to hell in a handbasket, I will blame them all, Republicans and Democrats alike. In case anybody forgot, today's politicians, no matter which party, are all scum bags.

    Article is here.
    I can appreciate your frustration, but the above is still too much nonsense. "Bush policies" did not cause the Great Recession, although Bush deserves blame for not doing more to keep it from happening, or at least better mitigating it.

    In any case, Obama and the Dems, with both Houses, took a bad situation and have now made it much worse. As it stands right at this moment, there are Conservatives, such as many who associate with the Tea Party, and elected folks such as Paul Ryan and Chris Christie for example, who are ready with the tough plans.

    It is the Democrats right now who own this mess, and who are continuing to take us off a cliff. Call the Republicans as being too often too nice, and unwilling or unable to stop the madness, but it was democrat-socialist stupidity such as Medicare and Social Security that dominate our budget issues now and for the currently uncontrolled and unfunded future. It is Democrat-Socialism that is the massive fail.
    Last edited by Eighty Deuce; 06-07-11 at 07:34 PM.

  6. #36
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by donsutherland1 View Post
    Ultimately, evasion of today's difficult choices, is an invitation to greater problems down the road, even as U.S. strategic flexibility is diminished.
    That's good because the way our political system and government works, it's really good at opposing the majority to make tough, rapid, decisions.

    Not that I have a solution, beacause it also prevents us from making bad, rapid decisions that oppose the majority as well.
    Last edited by Mach; 06-07-11 at 07:32 PM.

  7. #37
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by The Prof View Post
    usa today:



    U.S. funding for future promises lags by trillions - USATODAY.com

    it's been two years since the us senate even proposed a budget---in times like these

    and budget chair kent conrad has intimated he will not be coming forth with a blueprint this year either

    leadership, anyone?
    You do realize that the Senate doesn't actually have the authority to propose a budget right? The only group that can propose a budget and for spending is the House of Representatives. Once those bills pass the House it is up to the Senate to pass a bill that mirrors the House bill.

  8. #38
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    Re: Chronic unemployment worse than Great Depression

    tell it to difi, manchin, lieberman and pryor

    Democrats grumble over Harry Reid's agenda - Manu Raju - POLITICO.com

  9. #39
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    Re: Chronic unemployment worse than Great Depression


  10. #40
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    Re: Chronic unemployment worse than Great Depression

    meanwhile, SIXTY ONE POINT SIX TRILLION

    and counting

    tick tick...

    leadership, anyone?

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