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Thread: U.S. GDP Grows Just 1.3%

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Default didn't seem to matter when Govt. Motors(GM) defaulted with its bond holders and creditors? don't recall Obama take over saving those investors and creditors?

    We have been through this for 2 1/2 years now so why do you keep buying the Obama lies?
    I think it would certainly "matter" - what I question is the (seemingly blind) assumption that any risk of "backlash" from investors and creditors will *poof* disappear when we raise the debt ceiling. "Out of sight out of mind." The "backlash" seems inevitable unless we can make the sorts of tough decisions/tough cuts/tough stands that are currently being chastized in the media. Big picture, anyone?

    I mean -- it seems like a lot of people simply assume that (while we may be in a tough spot right now), things are bound to pick up eventually, so we'll just keep borrowing money to get by, interest rates will remain low forever, and we can worry about paying our debts sometime way out in the future, painlessly, when we're again rolling in easy money. That's the sort of optimism that sold a lot of McMansions.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Thorgasm View Post
    I don't see what everyone is upset about. The recession ended two years ago.
    Slow growth can actually be worse than a recession. It prompts people to make dramatic moves that aren't necessary such as massive stimulus bills or dramatic spending cuts, to encourage the populace that something is being done.
    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 Taylor View Post
    I think it would certainly "matter" - what I question is the (seemingly blind) assumption that any risk of "backlash" from investors and creditors will *poof* disappear when we raise the debt ceiling. "Out of sight out of mind." The "backlash" seems inevitable unless we can make the sorts of tough decisions/tough cuts/tough stands that are currently being chastized in the media. Big picture, anyone?

    I mean -- it seems like a lot of people simply assume that (while we may be in a tough spot right now), things are bound to pick up eventually, so we'll just keep borrowing money to get by, interest rates will remain low forever, and we can worry about paying our debts sometime way out in the future, painlessly, when we're again rolling in easy money. That's the sort of optimism that sold a lot of McMansions.
    What really bothers me is we still have a group of people who continue to ignore the Obama lies and buy the Obama rhetoric. There is nothing balanced or fair about what Obama is doing and he knows it. He is orchestrating this debt crisis as a lifeline to re-election as he believes he can blame the Republicans and the minions of brainwashed and braindead continue to buy it. Most don't have a clue and ignore we have no business being where we are today without Obama orchestrating it. Democrats had overwhelming control of Congress from 2009-2011 and did what, never passed a budget, never addressed the debt ceiling, and now want the issue to pin that on Republicans. Too bad there are millions who are good at placing blame but poor at accepting responsibility.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    I know how it works, take money from the American taxpayer and use it to fund a bloated federal bureaucracy that has out of control spending then convince the braindead the govt. is there to help us all. BS.
    The topic isn't about entitlement spending, it's about economic growth. But I am curious...

    Are you aware that the Cut, Cap and Balance Act does NOT limit entitlement spending?

    SEC. 317. CERTAIN DIRECT SPENDING LIMITS.

    ‘(a) In General- It shall not be in order in the House of Representatives or the Senate to consider any bill, joint resolution, amendment, or conference report that includes any provision that would cause total direct spending, except as excluded in subsection (b), to exceed the limits specified in subsection (c).

    ‘(b) Exempt From Direct Spending Limits- Direct spending for the following functions is exempt from the limits specified in subsection (c):

    ‘(1) Social Security, function 650.

    ‘(2) Medicare, function 570.

    ‘(3) Veterans Benefits and Services, function 700.

    ‘(4) Net Interest, function 900.


    ‘(c) Limits on Other Direct Spending- The total combined outlays for all direct spending not exempted in subsection (b) for fiscal year 2012 shall not exceed $680,730,000,000.’.
    This has been a consistent pattern in Washington for years. I'm doing some research on it now (which I've invited your assistance in performing if you please (Re: ), in trying to understand the history behind it by both parties. If what I'm discovering holds true, this has been going on since atleast 1984, if not longer.
    Last edited by Objective Voice; 07-29-11 at 02:01 PM.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Of course it did and .4% GDP growth first qtr and 1.3% GDP growth the second quarter are awesome liberal results along with the following 2 1/2 years after taking office.

    Obama record, 15.1 million officially unemployed TODAY 2 1/2 years later, 16.2% total unemployment or underemployment over 24 million TODAY, 4 trillion added to the debt as of the end of fiscal year 2011, and a rising misery index(7.83 to 12.67).
    So you think Obama should create more federal jobs?
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by CriticalThought View Post
    Slow growth can actually be worse than a recession. It prompts people to make dramatic moves that aren't necessary such as massive stimulus bills or dramatic spending cuts, to encourage the populace that something is being done.
    It also causes people who have jobs, often very good ones, to complain about unemployment too.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



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    Re: U.S. GDP Grows Just 1.3%

    I think everyone realizes that it isn't enough simply to raise the debt ceiling, i.e., raising the debt ceiling is a necessary but not sufficient condition to avoiding economic chaos. It seems to be generally accepted that we must reduce the deficit by about $4 trillion over the next 10-12 years. Democrats have been receptive to many of the republican's proposed spending cuts. Republicans have been completely unwilling to even consider relatively small tax hikes. And there you have it. You have one side saying, "look, I'll give you 90% of what you want," and the other side -- the MINORITY -- is saying, "eff off -- we get 100% of what we want or the economy gets it."

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Hicup View Post
    hehe.. A half a percentage point is a huge, and I mean HUGE number, what the hell are you talking about?
    Mayyyybe if you were talking about the potential impact of a short term default... but in the context of everyday economic ups and downs when a Democratic president is in office??? Pssshht - not a big deal.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Objective Voice View Post
    The topic isn't about entitlement spending, it's about economic growth. But I am curious...

    Are you aware that the Cut, Cap and Balance Act does NOT limit entitlement spending?


    This has been a consistent pattern in Washington for years. I'm doing some research on it now (which I've invited your assistance in performing if you please), in trying to understand the history behind it by both parties. If what I'm discovering holds true, this has been going on since atleast 1984, if not longer.
    Reagan compromised with Democrats and agreed to $1 of tax increases for every $3 of spending cuts in an attempt to balance the budget. Guess what? We got the tax increases but not the spending Cuts. That worked so well that GHW Bush agreed to the same program and guess what, we got the tax increases but no spending cuts. Now here we are 20 years later and Democrats are trying the same tactic. The tea party isn't biting.

    As for cut, cap, and balance, what I do know is that this is a plan and Obama doesn't have one on paper and never has.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Of course it did and .4% GDP growth first qtr and 1.3% GDP growth the second quarter are awesome liberal results along with the following 2 1/2 years after taking office.

    Obama record, 15.1 million officially unemployed TODAY 2 1/2 years later, 16.2% total unemployment or underemployment over 24 million TODAY, 4 trillion added to the debt as of the end of fiscal year 2011, and a rising misery index(7.83 to 12.67).
    The initial numbers for Q1 was what? 1.9%. It's been revised to .4%. Now that they say 1.3% which means in reality we are likely in the first month of a recession.

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