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Poll: 44% of Americans Worse Off Under Obama

today:

The economic recovery is slowing and the outlook for next year has gotten worse, Federal Reserve Chairman Ben S. Bernanke said Wednesday, backing away from the view that the slowdown of the past few months was merely temporary.

The central bank released new economic projections that showed weaker growth in both 2011 and 2012 than had been forecast just two months ago. Despite the slowdown, the Fed said it will end a program of buying vast sums of Treasury bonds at the end of June as scheduled and gave no sign it is contemplating new action.

talk about not doing anything

but he sure tried

qe, anyone?

The Federal Reserve has acknowledged that the economy is growing more slowly than it expected, but will complete its $600 billion Treasury bond buying program by June 30 as planned.

But Bernanke, whom markets turn to as a purveyor of economic wisdom, said the Fed had no solid answers as to why, two years into an economic recovery, growth keeps disappointing.

“We don’t have a precise read on why this slower pace of growth is persisting,” Bernanke said in a news conference Wednesday afternoon. He suggested that problems in the financial sector and the housing market, and with consumers trying to pay down their debt, had been underestimated. “Some of these head winds may be stronger or more persistent than we thought.”

Even as the central bank’s leaders lowered their expectations for the days immediately ahead, a different set of government economists offered a dire long-term forecast for the federal government’s fiscal health. The nonpartisan Congressional Budget Office estimated that the rising cost of Medicare, Medicaid and Social Security would, if left unchecked, lead to a national debt twice as big as the economy.

The CBO report highlighted the quandary confronting the United States: a weak economy in the near term and huge deficits in the longer run. Bernanke on Wednesday cautioned against conflating the two problems.

Federal Reserve, acknowledging slowdown, reins in forecasts for economic growth - The Washington Post

party on, progressives
 
And McCain would have done the same, except with more tax cuts, who the GOP would have supported, thus pushing us deeper in debt and raising our deficit even more since it would have passed through in Congress.

Wait...are you STILL not getting Boos contention that no president has such pull? And....just for fun...how did your dem controlled house, senate and white house do on those tax cuts? :lamo:lamo
 
Wait...are you STILL not getting Boos contention that no president has such pull? And....just for fun...how did your dem controlled house, senate and white house do on those tax cuts? :lamo:lamo

My argument doesn't have anything to do with Boo's argument, so I don't know why you keep bringing him up in my posts.
 
My argument doesn't have anything to do with Boo's argument, so I don't know why you keep bringing him up in my posts.
Two reasons for commenting on your post. First to point out your blind partisanship. The second to point out his blatant hypocrisy.
 
today:

New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.

Initial claims for state unemployment benefits climbed 9,000 to a seasonally adjusted 429,000, the Labor Department said. The prior week's figure was revised up to 420,000.

Economists polled by Reuters had forecast claims to edge up to 415,000 from a previously reported count of 414,000.

The claims report covers the survey period for the government's closely watched data on nonfarm payrolls for June.

Claims increased 15,000 between the May and June survey periods, implying little or no gains in nonfarm payrolls this month after a modest 54,000 increase in May.

The data is the latest in a series to underscore the weakness in the economy, which has persisted through the second quarter.

Initial claims have now been above the 400,000 mark for 11 weeks in a row. Analysts normally associate that level with a stable labor market.

CNBC: Jobs Picture Gets Worse
 
Wait...are you STILL not getting Boos contention that no president has such pull? And....just for fun...how did your dem controlled house, senate and white house do on those tax cuts? :lamo:lamo

He's not addressng my arguement, though I agree with him that little would have been different with McCain. Regardless of party we'd have seen much the same actions taken, with just as poor results. I argue that no matter what they did, they would lack the power to actually make the economy well. At best, they can minimalize the pain, stave off collapse, and pray other factors swing to the positive.

But it is good practice to address my arguemnts with me, and his with him. ;)
 
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So Cap. To be playing the blame game as Obama is, "Lowers" the standard of demo's?

huh? Mr. Independent?

j-mac

If two people are swimming in the sewage, would it matter which one is swimming in the deepest spot? Democrats pretty much suck IMO. But, here lately, and I emphasize "lately," they don't suck near as bad as the republicans. But they still suck.

Hope that helps to explain things. If not, I will try again and type slower next time. LOL!

Have a great day J-mac.
 
yesterday:

The economy's continuing struggles aren't just confounding ordinary Americans. They've also stumped the head of the Federal Reserve.

Fed Chairman Ben Bernanke told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.

"We don't have a precise read on why this slower pace of growth is persisting," Bernanke said. He said the weak housing market and problems in the banking system might be "more persistent than we thought."

It was the Fed chief's most explicit warning yet that the economy will face serious challenges next year. For several months, he had said the factors working against economic growth appeared to be "transitory."

The Fed cut its forecast for economic growth this year to a range of 2.7 percent to 2.9 percent from an April forecast of 3.1 percent to 3.3 percent. It also cut its forecast for next year to a range of 3.3 percent to 3.7 percent from an earlier 3.5 percent to 4.2 percent. The Fed also said unemployment would stay higher than it had expected earlier.

The Fed's statement Wednesday stood in contrast to the Fed's more upbeat view when officials last met, eight weeks ago. At that time, the central bank said the job market was gradually improving.

Since then, the economic news has been gloomy. The government reported that the economy grew at an annual rate of only 1.8 percent in the first three months of the year. It isn't expected to grow much faster in the current quarter. The economy added 54,000 jobs in May, far fewer than in the previous two months. Consumer spending has weakened, too.

My Way News - Economic trouble puzzles Fed chief, too
 
Two reasons for commenting on your post. First to point out your blind partisanship. The second to point out his blatant hypocrisy.

Well if you have a problem with Boo, you take it up with him and leave me out of it.

As for any partisanship I have, it is with eyes wide open.
 
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