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Thread: U.S. GDP Grows Just 1.3%

  1. #271
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by The Prof View Post
    vote obama, 2012!

    it was never a promise

    it was a FORECAST!

    LOL!
    Now appearing at Chuckles by the Dump....

  2. #272
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    Did he not try to prevent the top Bush tax cuts from being renewed?
    apparently not hard enough

    Obviously these sorts of pledges are only promises to try
    vote obama, 2012!

    he only promises to try...

  3. #273
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    it was a prediction
    and it was WAY off

    romer/bernstein forecasts unemployment at about 6.5% by now

    see the krugman link above

    party on, peeps

  4. #274
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    Wow, it took you a while to come up with that zinger.
    I asked you to get a room, why are you still here?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    Well, she was off by about two percentage points
    even this is incorrect - because Romer was claiming that we would be at 7% of the 2009 workforce. instead we are at about 9% of the 2011 workforce, which is considerably shrunken. You see, long-term unemployment is now worse than any period since the 1930's (it may be worse in some sectors, I would have to check), which means that our current "unemployment" rate is artificially low due to the large numbers of people who have dropped out of the workforces alltogether. If you were to assess our unemployment based on the 2009 workforce, our percent of unemployed would climb significantly higher.

    and the error was not in calculating how many jobs would be saved or created, but rather, in underestimating the depth of the recession
    this, also, is incorrect. the "saved or created" is magic numbers; they can be made to say anything but aren't reflective of actual, you know, jobs anywhere. basically they took a large amount of money, assumed a particular multiplier (see post 256 on the wisdom of that), and said "ta-da!" "Hooray! X Number Of Jobs Created Saved Or Created".

    In other words, they figured that unemployment would probably hit 10 or 11% without the stimulus.
    no, they didn't. they have only come out with that number since unemployment climbed way above what they had predicted, and higher than they threatened we would see without the "stimulus". Had unemployment climbed to 10 or 11%, they would have claimed to have saved us from 15%. had it been 15%, they would have said "yes, well, at least we saved you from 18%". its a non-falsifiable thesis. no matter what the actual result, just claim that elsewise it would have been worse.
    Last edited by cpwill; 07-29-11 at 08:27 PM.

  6. #276
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    Re: U.S. GDP Grows Just 1.3%

    the historically slow recovery:

    Nearly two years after the economic recovery officially began, job creation continues to stagger at the slowest post-recession rate since the Great Depression.

    The nation has 5% fewer jobs today — a loss of 7 million — than it did when the recession began in December 2007. That is by far the worst performance of job generation following any of the dozen recessions since the 1930s.

    In the past, the economy recovered lost jobs 13 months on average after a recession. If this were a typical recovery, nearly 10 million more people would be working today than when the recession officially ended in June 2009.
    Job creation limps along after recession - USATODAY.com

    22 months after the end of the recession we are still 7 million jobs behind

    and the situation doesn't appear to be improving much of late

    hang on, homies

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    Yes, like I said, it was a prediction -- not a promise. Calling it a promise is a lie.

    for a certainty, being wrong is not being false. however, when we are speaking of potential administration lies, it is easy enough to identify one of those.


    when Obamacare was in debate in Congress, Obama gave an interview with George Stephanopolis, in which he famously said, point blank, multiple times, that the "fine" placed on people who don't purchase healthcare was not a tax.

    now, with that measure (the individual mandate) in legal trouble... the Obama administration says that it is legal.... because it is a tax, and Congress has the power to tax.


    Was Obama Lying then, or is he lying now?

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by The Prof View Post
    the historically slow recovery:



    Job creation limps along after recession - USATODAY.com

    22 months after the end of the recession we are still 7 million jobs behind

    and the situation doesn't appear to be improving much of late

    hang on, homies

    you are here:


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    Re: U.S. GDP Grows Just 1.3%

    Obama: Will Do Health Care on Cspan - YouTube

    The president, members of Congress from both parties and special interest groups have indeed all participated in negotiations, but those conversations have not been broadcast. Instead, the president has announced deals with groups like the pharmaceutical industry and the insurance industry after they were worked out in backroom deals.

    Meanwhile, Baucus, one of the most influential senators in the health care debate, not only shut out the public but shut out most of his own committee from his "bipartisan negotiations."

    "We spent virtually an entire year with most of the Finance Committee being excluded," Sen. Jay Rockefeller (D-W.V.) reportedly said after Baucus released his health care bill. "You don't run a committee that way."
    Five Health Care Promises Obama Won't Keep - CBS News

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Objective Voice View Post
    The GOP came into 2011 with a plan, and if you've read the book, "Revolt!" you know exactly what that plan entails. Holding out on increasing the debt limit even if it meant going up to the very last day (which technically speaking, TODAY MARKS THAT DAY!) was part of their plan. Read pages 106 - 108 and post what it says (I'd do it, but I left my copy of the book at home, but anyone can view snippets of the text just by going to Amazon.com and performing a simple keyword search, "debt ceiling". It say very clearly, "the debt ceiling is a fiction vote...Obama will likely veto it (paraphrase).
    Here are the specifics straight from the source mentioned above:

    Revolt!, page 19:

    Before they (Republicans) will approve a debt limit increase or a new federal budget, Republicans must demand that Obama's expensive and intrusive programs be cut. They must hold firm despite the chaos that will ensue. Obama will refuse to sign a debt limit increase or a new federal budget without his programs. The great budget battlelines will be drawn.

    As we fight these battles we will be keeping the issues Obama wants to go away alive. We are assuring that they will remain front and center in the 2012 elections.
    From page 106-107:

    The newly elected Republican senator from Illinois, Mark Kirk, has proposed that the GOP resist raising the debt limit unless we (Republicans) wring specific spending reductions and other concessions (i.e., a balanced budget amendment) from Obama. And then we need to keep coming back for more. Sen. Kirk proposes that we raise the debt limit for only three months at a time. When the federal government needs more money they will have to come back to Congress asking for an increase in the debt limit. And each time they do we need to be there with our list of demands in hand asking for additional concessions.

    They must provied a credible deficit reduction and a path to further cuts without opening the can of worms of Social Security and Medicare.
    What the counrty is experiencing right now IS a purposefully crafted plan with one purpose in mind and it has absolutely nothing to do with doing "the will of the People". It's all about defeating one man in the White House at all cost, even if it means the country suffers as a result.
    Last edited by Objective Voice; 07-29-11 at 08:37 PM.

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