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U.S. GDP Grows Just 1.3%

CriticalThought said:
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.
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It also causes people who have jobs, often very good ones, to complain about unemployment too.
 
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."
 
Hicup said:
hehe.. A half a percentage point is a huge, and I mean HUGE number, what the hell are you talking about?
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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. ;)
 
Objective Voice said:
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.
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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.
 
Conservative said:
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).
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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.
 
Thorgasm said:
So you think Obama should create more federal jobs?
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I think obama should cut the size of the Federal Govt, and then get out of the way letting the private sector do the job creation which is what made this country great
 
Taylor said:
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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I suppose.. :)


Tim-
 
Conservative said:
I think obama should cut the size of the Federal Govt, and then get out of the way letting the private sector do the job creation which is what made this country great
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Who is standing in the private sector's way? The private sector is sitting on a mountain of cash. What is it, $2 trillion?
 
AdamT said:
Who is standing in the private sector's way? The private sector is sitting on a mountain of cash. What is it, $2 trillion?
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Regulations, potential tax hikes, Obamacare, demonization of individual wealth creation, redistribution of wealth threats, promotion of unions. why would any business hire and invest under these conditions?
 
Conservative said:
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).
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The recession officially ended in June, 2009.

It's hard to believe, but there were actually fewer people employed last month -- two years into the recovery -- than when it began. And that's not just "fewer as a proportion of..." but fewer people employed, period.
 
Conservative said:
I think obama should cut the size of the Federal Govt, and then get out of the way letting the private sector do the job creation which is what made this country great
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The trend in private sector is to outsource jobs.
 
Conservative said:
I think obama should cut the size of the Federal Govt, and then get out of the way letting the private sector do the job creation which is what made this country great
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I think America.. (Not the 13% full blown libbies) has GOT to elect a real person this time round. Someone with real executive experience, and doesn't delegate everything away, especiall the important stuff. It's like Obama is trying to vote present as the President.. :)

Someone who isn't afraid to take on the global community. We've been generous long enough.. Bring back manufacturing, impose fair tarrifs and trade, and we make all this go away. If anything this is what the stimulus should have been spent on.. Incentives to keep, and bring back manufacturing to the US.


Tim-
 
Conservative said:
Regulations, potential tax hikes, Obamacare, demonization of individual wealth creation, redistribution of wealth threats, promotion of unions. why would any business hire and invest under these conditions?
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Nonsense. The private sector isn't hiring because they don't have to to meet demand -- period.
 
Taylor said:
The recession officially ended in June, 2009.

It's hard to believe, but there were actually fewer people employed last month -- two years into the recovery -- than when it began. And that's not just "fewer as a proportion of..." but fewer people employed, period.
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It's not hard to believe at all. Jobs are outsourced. We don't produce as much as we used to. This coupled with gas prices being markedly higher shouldn't be a surprise to anyone.
 
Conservative said:
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.
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:STOP:

Your postering. CCB is the leading House bill as proposed by the Republican leadereship. The last extension of the Balanced Budget and Emergency Deficit Congrol Act of 1985 passed by Congress in 2004 extended the debt limit out to 2009, but the Act says nothing about limiting entitlement spending. Mind you, Congress was controlled by the Republican party at the time. I'm still doing research as I know there were two others debt limit/deficit reduction bills that were passed afterwards, but unless you or someone else can show otherwise, I'm inclined to conclude that entitlement spending has not been capped by either party, but in particular not by the so-called "deficit hawk" Conservative Republicans since...never...even when they controlled Congress, but atleast not since 1985.
 
Thorgasm said:
The trend in private sector is to outsource jobs.
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If so you can thank "your" President for creating the atmosphere that promotes outsourcing. The Obama record speaks for itself and the only way he can get re-elected is to divert from that record.

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).

Now we have .4% GDP growth first quarter 2011 and 1.3% growth second quarter GDP growth. These results are being ignored by the Obama supporter
 
Objective Voice said:
:STOP:

Your postering. CCB is the leading House bill as proposed by the Republican leadereship. The last extension of the Balanced Budget and Emergency Deficit Congrol Act of 1985 passed by Congress in 2004 extended the debt limit out to 2009, but the Act says nothing about limiting entitlement spending. Mind you, Congress was controlled by the Republican party at the time. I'm still doing research as I know there were two others debt limit/deficit reduction bills that were passed afterwards, but unless you or someone else can show otherwise, I'm inclined to conclude that entitlement spending has not been capped by either party, but in particular not by the so-called "deficit hawk" Conservative Republicans since...never...even when they controlled Congress, but atleast not since 1985.
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You are ignoring that debate at the time, similar to what is going on right now, promises to cut spending. did that happen? Republicans didn't control the Congress during the Reagan years. they controlled the Senate but never took control of the Congress until 1995
 
AdamT said:
Nonsense. The private sector isn't hiring because they don't have to to meet demand -- period.
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Demand is part of the problem but costs of hiring are also considered and have to be. Businesses cannot print money like the govt. does. When they spend it, it is gone until they earn it back.
 
Thorgasm said:
It's not hard to believe at all. Jobs are outsourced. We don't produce as much as we used to. This coupled with gas prices being markedly higher shouldn't be a surprise to anyone.
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We actually produce more than we used to. We are still the number one manufacturing country in the world. Automation -- not outsourcing -- is the primary reason fewer people are employed in the manufacturing sector. Perhaps we should outlaw robotic assemply lines while we're throwing up tariffs?
 
Conservative said:
If so you can thank "your" President for creating the atmosphere that promotes outsourcing. The Obama record speaks for itself and the only way he can get re-elected is to divert from that record.

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).

Now we have .4% GDP growth first quarter 2011 and 1.3% growth second quarter GDP growth. These results are being ignored by the Obama supporter
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Here we go again...

Outsourcing has been going on since long before Obama came onto the scene. I know you'd like to think otherwise, but I've been dealing with yahoos from India on home network troubleshooting since atleast 2002. And half the time I still couldn't get my wireless network to work properly. Eventually, I gave up and went back to a wired network - more reliable.
 
Hicup said:
I think America.. (Not the 13% full blown libbies) has GOT to elect a real person this time round. Someone with real executive experience, and doesn't delegate everything away, especiall the important stuff. It's like Obama is trying to vote present as the President.. :)
Click to expand...

So we need an expert in military, economics, health care, environment, policing, law, emergency services, etc...?

Hicup said:
Someone who isn't afraid to take on the global community. We've been generous long enough.. Bring back manufacturing, impose fair tarrifs and trade, and we make all this go away. If anything this is what the stimulus should have been spent on.. Incentives to keep, and bring back manufacturing to the US.
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I agree with this. Unfortunately, the CEO's will tell you that this will increase consumer prices as American workers are too expensive (management excluded, I'm sure).
 
Conservative said:
You are ignoring that debate at the time, similar to what is going on right now, promises to cut spending. did that happen? Republicans didn't control the Congress during the Reagan years. they controlled the Senate but never took control of the Congress until 1995
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Hence, the reason I referred to the last time the Balanced Budget Act of 1985 was extended...in 2004.
 
Objective Voice said:
Here we go again...

Outsourcing has been going on since long before Obama came onto the scene. I know you'd like to think otherwise, but I've been dealing with yahoos from India on home network troubleshooting since atleast 2002. And half the time I still couldn't get my wireless network to work properly. Eventually, I gave up and went back to a wired network - more reliable.
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Obama was hired to solve the problem, what did he do about the problem? Do liberals do anything but blame someone else for their own failures?
 
Conservative said:
If so you can thank "your" President for creating the atmosphere that promotes outsourcing. The Obama record speaks for itself and the only way he can get re-elected is to divert from that record.
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It's cute that you only blame the current president when both parties are to blame. As much as you wish was the case, we didn't get to where we are now without both parties' decisions.

Conservative said:
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).

Now we have .4% GDP growth first quarter 2011 and 1.3% growth second quarter GDP growth. These results are being ignored by the Obama supporter
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:spam:
 
Thorgasm said:
It's cute that you only blame the current president when both parties are to blame. As much as you wish was the case, we didn't get to where we are now without both parties' decisions.



:spam:
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Only in the liberal world are actual facts called spam. Do you ever accept responsibility for your own failures?
 
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