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Thread: Breaking: Agreement has been reached on raising the debt limit....

  1. #341
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    Re: Obama: We have a deal

    Right, that's the article I linked to. Thanks for posting it again.

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    Re: Obama: We have a deal

    Quote Originally Posted by pbrauer View Post
    The term recession is about GDP growth, it's NOT about employment as you damned well know.
    Obama GDP growth. Is this what you had in mind? Can you name for me what President had this kind of GDP performance two years after the end of a recession

    2009
    -6.7
    -0.7
    1.7
    3.8

    2010
    3.9
    3.8
    2.5
    2.3

    2011
    0.4
    1.3

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Obama GDP growth. Is this what you had in mind? Can you name for me what President had this kind of GDP performance two years after the end of a recession

    2009
    -6.7
    -0.7
    1.7
    3.8

    2010
    3.9
    3.8
    2.5
    2.3

    2011
    0.4
    1.3
    Sorry, but that negative 6.7 GDP contraction was on Bush's watch. As were the the preceding months of GDP contraction.

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    Re: Obama: We have a deal

    Quote Originally Posted by Goldenboy219 View Post
    Pay attention; as state and local government spending continues to dry up, weak output growth will continue.
    Suggest you move to a more pro growth state that doesn't rely solely on govt. spending. Just like a liberal relying on state and local govt. spending. You do realize the taxpayers are tapped out.

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    Re: Obama: We have a deal

    Quote Originally Posted by AdamT View Post
    Sorry, but that negative 6.7 GDP contraction was on Bush's watch. As were the the preceding months of GDP contraction.
    No one is disputing that Obama inherited a recession, what is your excuse for the decline in GDP growth every month since the first qtr of 2010 with the exception of the booming 1.3% GDP growth? You need to get over your Bush Derangement Syndrome, he isn't on the ballot and all we hear from "your" President are excuses

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    Re: Obama: We have a deal

    Bringing the topic back...

    I found this proposed Continuing Resolution from the House (H.ConRes 68) very interesting. Once again, Congress gets it wrong. The reason the President cannot use clause 4 of the 14th Amendment to the Constitution to take matters pertaining to the nation's debt in his own hands is:

    14th Amendment, clause 5:

    5. The Congress shall have power to enforce, by appropriate legislation, the provisions of this article.
    Therefore, this HCR will never work! Such an measure would merely be an abdication of Congress' enumerated power to ensure "the full faith and credit of the U.S." onto the President. As such, if if the President had submitted a budget plan (which he had), this is still Congress' problem to fix!

    Quote Originally Posted by Conservative View Post
    No one is disputing that Obama inherited a recession, what is your excuse for the decline in GDP growth every month since the first qtr of 2010 with the exception of the booming 1.3% GDP growth? You need to get over your Bush Derangement Syndrome, he isn't on the ballot and all we hear from "your" President are excuses
    I would say it is the result of:

    1) the massive firing or forced layoffs of federal and state employees coupled with the fact that;

    2) commercial and investment banks have placed rebuilding their liquidity rather than make loans, and;

    3) the States have yet to act on public-private contracts for which they accepted Stimulus fund in-part for; and,

    4) recent natural disasters.

    All four combined have hampered or hindering job growth. Unfortunately, some people refuse to see that.
    Last edited by Objective Voice; 08-01-11 at 05:49 PM.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Not quite but nice try

    Labor Force Statistics from the Current Population Survey
    Original Data Value

    Series Id: LNS13000000
    Seasonally Adjusted
    Series title: (Seas) Unemployment Level
    Labor force status: Unemployed
    Type of data: Number in thousands
    Age: 16 years and over
    Quote Originally Posted by Sheik Yerbuti View Post
    unemployed+discouraged workers
    Which would most accurately be categorized by u-6.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: We have a deal

    msnbc, today: "ten signs the double dip recession has begun"

    Friday's news on GDP shows the double dip has arrived — an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt ceiling trouble and lack of a longer term resolution to the deficit will make it worse.

    The U.S. has entered a second recession. It may not be as bad as the first. Economists say that the Great Recession began in December 2007 and lasted until July 2009. That may be the way that the economy was seen through the eyes of experts, but many Americans do not believe that the 2008-2009 downturn ever ended.
    10 signs the double-dip recession has begun - Business - US business - msnbc.com

    the ten signs listed and discussed by the home of rachel and ed are---inflation, low investment yields, autos, oil, the budget, the chinese slowdown, unemployment, the debt ceiling (its anti stimulative effect), a credit crunch and housing

    fyi

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    Re: Obama: We have a deal

    Quote Originally Posted by Goldenboy219 View Post
    Which would most accurately be categorized by u-6.
    No, that doesn't include discouraged workers or workers that are under employed

    You can add these numbers for discouraged workers to the total

    Discouraged workers
    2008 467 396 401 412 400 420 461 381 467 484 608 642
    2009 734 731 685 740 792 793 796 758 706 808 861 929
    2010 1065 1204 994 1197 1083 1207 1185 1110 1209 1219 1282 1318
    2011 993 1020 921 989 822 982

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Obama GDP growth. Is this what you had in mind? Can you name for me what President had this kind of GDP performance two years after the end of a recession

    2009
    -6.7
    -0.7
    1.7
    3.8

    2010
    3.9
    3.8
    2.5
    2.3

    2011
    0.4
    1.3
    You might want to check the U.S. Constitution, I haven't seen anything there that say he's in charge of GDP growth. But, even if it were his job, look at the first quarter of 2009, although he was President then, you would have to blame Bush. That's if you were honest.


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