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Thread: U.S. GDP Grows Just 1.3%

  1. #21
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by CriticalThought View Post
    Obama is a poor ass president. Your point? I didn't vote for him. I'm a registered Independent, not a Democrat.

    However, the Tea Party has done far more damage in the last few months to consumer and lender confidence than Obama has probably done over his entire presidency, and if we default, the resulting recession will be entirely the fault of the GOP.
    The Tea Party has done NO damage to consumer and lender confidence as they are trying to put some fiscal responsibility back into our govt. Instead of kicking the can down the road they are actually addressing the issue and are being demonized for it. I watched a lot of tea party rallies around the country and that is America, not the clueless liberal talking heads that demonize average Americans. If we default it will be all Obama because he had total control of the Govt. for two years and could have increased the debt ceiling any time but no, he passed record spending. Stop buying what you are told and think. Obama wants a default as he believes that is his path to re-election, blame someone else so he can ignore his record.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Objective Voice View Post
    donsutherland1 and CriticalThought are the only posters to this thread who make sense. If you pay attention to the economic indicators, you're really not throwing yourself into a panic over what's happened with the economic growth numbers. They are relatively close to what most economist expected. A -0.5% difference (1.8 - 1.3) isn't much to panic about. The economy's in the ballpark of analysist estimates.
    at the beginning of the year "most economists" were predicting around 3.5% growth. not 0.4%.





    so anyway, how's that Recovery Summer working out? any minute now the Stimulus is going to save us all, right? yup, aaaaany minute now.....

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    The Tea Party has done NO damage to consumer and lender confidence as they are trying to put some fiscal responsibility back into our govt. Instead of kicking the can down the road they are actually addressing the issue and are being demonized for it. I watched a lot of tea party rallies around the country and that is America, not the clueless liberal talking heads that demonize average Americans. If we default it will be all Obama because he had total control of the Govt. for two years and could have increased the debt ceiling any time but no, he passed record spending. Stop buying what you are told and think. Obama wants a default as he believes that is his path to re-election, blame someone else so he can ignore his record.
    The have taken the US economy hostage by using threat of default in an attempt to instill fiscally irresponsible measures that have no hope of passing the Senate or White House. The uncertainty they have created by doing so has been devastating to consumer and lender confidence. If interests rates go up even if we don't default the repercussions of their actions will be felt for years to come.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by CriticalThought View Post
    You are playing chicken and the egg.

    Nobody is going to get hired until consumers start to spend and banks start to lend. You can't create jobs without consumer confidence and lender confidence. It will not happen.

    Nothing you posted challenges that simple fact.
    hey! that's what we should have done! a giant demand-side stimulus package! gosh, why didn't we think of that in 2008 and then again even bigger in 2009?

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by CriticalThought View Post
    The have taken the US economy hostage by using threat of default in an attempt to instill fiscally irresponsible measures that have no hope of passing the Senate or White House. The uncertainty they have created by doing so has been devastating to consumer and lender confidence. If interests rates go up even if we don't default the repercussions of their actions will be felt for years to come.
    Looks to me like someone else buying the media rhetoric, that is bull****. This is all about spending too much and increasing the credit card limit so they can borrow more money to pay for that overspending. Our Credit rating is going to be downgraded because of spending too much, not because of increasing the credit limit.

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    Re: U.S. GDP Grows Just 1.3%

    exactly. the problem is the debt, not the debt ceiling.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by cpwill View Post
    hey! that's what we should have done! a giant demand-side stimulus package! gosh, why didn't we think of that in 2008 and then again even bigger in 2009?
    As far as we know, the stimulus did nothing, it hurt us, or it saved us from a terrible depression. The problem with trying to determine the effect is that we don't know how bad things would have gotten without it. I didn't particularly support it, mainly because I didn't see how it would improve lender confidence during a period of great foreclosure and market readjustment.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

  8. #28
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by cpwill View Post
    exactly. the problem is the debt, not the debt ceiling.


    Confidence is the issue right now. Paying off the debt is part of improving that, but it is only one small part of the bigger problem.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

  9. #29
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Looks to me like someone else buying the media rhetoric, that is bull****. This is all about spending too much and increasing the credit card limit so they can borrow more money to pay for that overspending. Our Credit rating is going to be downgraded because of spending too much, not because of increasing the credit limit.


    Funny. I take the same line of 99% of economists and I'm "buying into media rhetoric".
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

  10. #30
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by CriticalThought View Post
    As far as we know, the stimulus did nothing, it hurt us, or it saved us from a terrible depression
    hell, why don't we give it credit for halting an alien invasion as well? "Billions would have died but Noble Super Obama Saved Us All!!!"

    The problem with trying to determine the effect is that we don't know how bad things would have gotten without it. I didn't particularly support it, mainly because I didn't see how it would improve lender confidence during a period of great foreclosure and market readjustment.
    it won't. in fact, of those willing to lend and invest, it took much of the money with which they were going to do so.

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