Double whammy - not only do you not have a job, you're also the one most affected by all this massive borrowing currently contributing to our weaker dollar. You weren't making much of a living before, and now you're having to spend more on essentials (food, gas) and pretty soon clothing and a lot of other goods, the prices of which have been held artificially low by companies waiting for the economy to pick back up.
And they didn't achieve them, did they?
But again, they are trying to pass a bill that will still ruin the US credit rating, increase the national debt, increase interest rates on working Americans, and force everyone back into the same boat we're in right now in just six months. What an incredibly responsible bill that is!
uncertainty is the thousand pages of obamacare we had to pass to find out what's in it and from which thousands have subsequently been waived
the failure of the party in power with sixty senators and a plurality of 78 downstairs to settle before new years eve each american's precise relationship with his or her irs, per the extension or not of the bush tax cuts, left for lame duck
as for this debt ceiling debate, where's leadership
it'll take a short term deal, it won't take a short term deal, it'll veto it, it won't
it want's a clean lift, it wants 4T in cuts, it wants taxes now, it wants tax reform now, it wants tax reform later
cuts not, tax reform later
it wants social security cut except it's off the table
it wants the loopholes but it won't say which ones
it wants the biden group, the gang of six, the mcconnell plan, the mcconnell-reid plan, the reid plan...
Here's another little interesting observation:
In an op-ed in today's Miami Herald, Weiner and Horton cite a 5.4% GDP growth under Democratic presidents since 1930, "who have emphasized people programs and resisted rich tax breaks," versus 1.4% growth under Republican presidents, who have enacted rich tax cuts, paralleling current Republicans.
Trickle-Down From Wealthy Hasn't Worked Since Hoover and Can't Pay Off Our Debt, Robert Weiner and John Horton Assert in Miami Herald - Yahoo! News
Last edited by winston53660; 07-29-11 at 01:41 PM.
The financial crisis and ensuing recession were beyond the scope of President Bush's policies alone. The seeds for the financial crisis that resulted from the collapse of the housing bubble were planted well before President Bush came to office. Some of the seeds were policy-related. Many others were not e.g., technology/information developments made securitization on a large scale feasible. Bad risk assessment by the financial sector contributed.What exactly has he done to improve the economic performance of this country and reverse that evil GW Bush who single handledly destroyed the economy as Democrats controlling the Congress watched.
Nonetheless, the adoption of Medicare Part D (a new costly entitlement program grafted on top of a program that was already structurally unsound), choice not to finance conflicts with a special tax/surcharge, and the 2001/2003 tax relief program (renewed in 2010) had fiscal implications. The 2009 fiscal stimulus program had some impact in slowing the deterioration in the job market/decline in GDP, but such a program merely borrows from future growth to create a less bad present. Political trade-offs led to its overall multiplier being lower than if a purely economic approach were pursued. In any case, stimulus has temporary short-term benefits that peter out once stimulus winds down. It is not a long-term jobs creation program.
The biggest failure has been the lack of a coherent and comprehensive economic growth/jobs strategy (especially when the type of recession that ensued created a larger structural unemployment problem than most other recessions). That situation will be a fair issue for debate during the 2012 election. Whether or not President Obama's Republican challenger will offer a credible package to fill that need remains to be seen. Voters will ultimately choose based on the situation going into the election and expectations going forward. If the unemployment rate has begun an appreciable decine, the President will very likely be re-elected. If not, then voters will choose the candidate whom they believe offers them the best prospects for meaningful job growth.
Voters will be looking ahead during the 2012 election. Political narratives about the past will matter little. An increasing problem is that the two parties increasingly view the situation as a zero-sum game (one can only gain at the other's expense). That perspective has greatly corroded the willingness to cooperate, even where vital national interests are at stake. That persepctive is part of the reason the nation's political risk is elevated beyond where it has been for quite some time. It is a compelling reason why confidence in the nation's policy makers and even political system is eroding, both among Americans and overseas U.S. partners.Wonder how many of those Democrats today are claiming that Republicans want Obama to fail so Republicans regain the WH? Amazing how little Congress plays when a Republican is in the WH and how bad the former GOP President made things 2 1/2 years after leaving office.
I'm pissed off at Republicans at this particular moment because of the histrionics in the House. The whole thing is ridiculous. I had a back and forth with someone who is a conservative on here yesterday and in minutes we could basically find an agreement. But when you elect the great Orange one to be your speaker, all he can come up with is a bill that won't prevent the credit rating from being taken down, causing interest on the national debt and on average citizens who have car loans and credit cards to rise - all just to have the same arguments in six months.
It's a horribly irresponsible bill that cannot pass in the Senate or be signed, but they move forward with it anyway and the only reason he would do so is to attempt to gain political points while things come crashing down around us. Not saying that Obama isn't trying to game the system, because that's what all politicians do; but Boehner actually holds the key here and if he would create a bill (like Reid's) that is at least tolerable to the other side, we'd be done with this.
But he won't do it out of adherence to a class of freshmen who couldn't govern their way out of a hedge maze.
Yeah. Damn those guys for doing what they were elected to do, and Boehner for recognizing this.But he won't do it out of adherence to a class of freshmen who couldn't govern their way out of a hedge maze