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Thread: Republicans block Obama jobs bill

  1. #1521
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by whysoserious View Post
    Yeah, I don't know why I thought I should listen to economists about the economy.
    If you actually listened to economists, then you would realize that their views differ by a wide margin. However, Obama's economists promised us an unemployment rate of under 8% if we spent close to a trillion dollars.

    How'd that work out?

  2. #1522
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Conservative View Post
    I know this is the Obama record, how about interpreting that record for me?

    Obama economic results in 2011,
    .4% GDP and 1.3% GDP growth in 2011(bea.gov)
    25+ million unemployed or under employed Americans in 2011(bls.gov)
    2.6 million fewer jobs(bls.gov)
    4.2 trillion added to the debt in less than 3 years(U.S. Treasury Site)
    Downgrade of the U.S. credit rating(S&P)
    Rising Misery index 7.83 to 12.97 (The United States Misery Index By Year)
    38-41% JAR and well over 50-55% disapproval ratings(Gallup)
    Not bad compared to this:


    Bush and Reagan were terrible presidents by the numbers
    Reagan GDP Changes of -3.2%, -4.9%, and -6.4%.
    Bush GDP Changes of 1.8%, 1.3%, -3.7% and -8.9%
    Misery Index Under Reagan in 1981: 19.33
    Misery Index Under Bush in August 2008: 11.47
    Unemployment under Reagan 1982: 9.7%
    Unemployment under Bush (beginning 2009): 9.3%
    Number of unemployed under Bush rose 22,000,000 from 2000-2008
    From 1981-1982, 1,126,000 jobs were lost by Reagan.
    In 1983, after losing over 1 million jobs, having over 9% unemployment, and posting losses in GDP, Reagan's approval rating was 40%.
    In 2008, after starting multiple wars, driving up the deficit, and seeing the recession begin to start, president George W. Bush's approval rating was under 30%.
    President Bush racked up 2.779 trillion in debt in 2 years as president.

  3. #1523
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Antiderivative View Post
    If you actually listened to economists, then you would realize that their views differ by a wide margin. However, Obama's economists promised us an unemployment rate of under 8% if we spent close to a trillion dollars.

    How'd that work out?
    No he didn't and if you actually read the news you'd know that.

    PolitiFact | Cantor and other Republicans say Obama promised stimulus would keep unemployment rates below 8 percent
    We think it's a big stretch to call an economic projection a "promise." The administration never characterized it that way and included plenty of disclaimers saying the predictions had "significant margins of error" and a higher degree of uncertainty due to a recession that is "unusual both in its fundamental causes and its severity." And so we rule the statement by Cantor — and other Republicans who have said the same thing — Barely True.

    Editor's note: This statement was rated Barely True when it was published. On July 27, 2011, we changed the name for the rating to Mostly False.
    --------------------------------------------

    Also, question, what is it about the economists that I quoted that you disagree with?

  4. #1524
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by whysoserious View Post
    Not bad compared to this:


    Bush and Reagan were terrible presidents by the numbers
    Reagan GDP Changes of -3.2%, -4.9%, and -6.4%.
    Bush GDP Changes of 1.8%, 1.3%, -3.7% and -8.9%
    Misery Index Under Reagan in 1981: 19.33
    Misery Index Under Bush in August 2008: 11.47
    Unemployment under Reagan 1982: 9.7%
    Unemployment under Bush (beginning 2009): 9.3%
    Number of unemployed under Bush rose 22,000,000 from 2000-2008
    From 1981-1982, 1,126,000 jobs were lost by Reagan.
    In 1983, after losing over 1 million jobs, having over 9% unemployment, and posting losses in GDP, Reagan's approval rating was 40%.
    In 2008, after starting multiple wars, driving up the deficit, and seeing the recession begin to start, president George W. Bush's approval rating was under 30%.
    President Bush racked up 2.779 trillion in debt in 2 years as president.
    Bush and Reagan aren't on the ballot, your problem is Obama and his record

    Obama economic results in 2011,
    .4% GDP and 1.3% GDP growth in 2011(bea.gov)
    25+ million unemployed or under employed Americans in 2011(bls.gov)
    2.6 million fewer jobs(bls.gov)
    4.2 trillion added to the debt in less than 3 years(U.S. Treasury Site)
    Downgrade of the U.S. credit rating(S&P)
    Rising Misery index 7.83 to 12.97 (The United States Misery Index By Year)
    38-41% JAR and well over 50-55% disapproval ratings(Gallup)

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by whysoserious View Post
    No he didn't and if you actually read the news you'd know that.

    PolitiFact | Cantor and other Republicans say Obama promised stimulus would keep unemployment rates below 8 percent


    --------------------------------------------

    Also, question, what is it about the economists that I quoted that you disagree with?
    Christina Romer did and she was speaking for the Administration

  6. #1526
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Conservative View Post
    Right, Reagan really screwed up, doubling GDP, creating 17 million jobs and increasing govt. revenue by 69% with the tax rate cuts
    Where do you get this idea that Reagan doubled GDP?

    Growth by Year for all Reagan fiscal years
    Year Real GDP % Growth
    1981 5,021.0 NA
    1982 4,919.3 -2.0
    1983 5,132.3 4.3
    1984 5,505.2 7.3
    1985 5,717.1 3.85
    1986 5,912.4 3.4
    1987 6,113.3 3.4
    1988 6,368.4 4.2
    1989 6,591.8 3.5

    The Reagan Information Page:GDP

    You can get the PDF @

    BEA : Search the BEA Website

  7. #1527
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Conservative View Post
    Bush and Reagan aren't on the ballot, your problem is Obama and his record

    Obama economic results in 2011,
    .4% GDP and 1.3% GDP growth in 2011(bea.gov)
    25+ million unemployed or under employed Americans in 2011(bls.gov)
    2.6 million fewer jobs(bls.gov)
    4.2 trillion added to the debt in less than 3 years(U.S. Treasury Site)
    Downgrade of the U.S. credit rating(S&P)
    Rising Misery index 7.83 to 12.97 (The United States Misery Index By Year)
    38-41% JAR and well over 50-55% disapproval ratings(Gallup)
    Good thing they aren't because by the numbers you cite they sucked pretty bad.

  8. #1528
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Conservative View Post
    Christina Romer did and she was speaking for the Administration
    Did you read the quote at all:

    The administration never characterized it that way and included plenty of disclaimers saying the predictions had "significant margins of error" and a higher degree of uncertainty due to a recession that is "unusual both in its fundamental causes and its severity."

  9. #1529
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by whysoserious View Post
    No he didn't and if you actually read the news you'd know that.

    PolitiFact | Cantor and other Republicans say Obama promised stimulus would keep unemployment rates below 8 percent


    --------------------------------------------

    Also, question, what is it about the economists that I quoted that you disagree with?
    Try reading what I wrote instead of distorting it. I never said that the Obama administration promised us unemployment under 8%, I said his economists did. Obama's stimulus plan was based off of Romer's projections which were clearly wrong. However, team Obama used Romer's analysis to validate their atrocious stimulus spending that amounted to jack.

    Mankiw points this out nicely.
    Greg Mankiw's Blog: Team Obama on the Unit Root Hypothesis

    Obviously, you only listen to economist who agree with your viewpoint.
    Last edited by Antiderivative; 10-25-11 at 07:38 PM.

  10. #1530
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Antiderivative View Post
    Try reading what I wrote instead of distorting it. I never said that the Obama administration promised us unemployment under 8%, I said his economists did. Obama's stimulus plan was based off of Romer's projections which were clearly wrong. However, team Obama used Romer's analysis to validate their atrocious stimulus spending that amounted to jack.

    Mankiw points this out nicely.
    Greg Mankiw's Blog: Team Obama on the Unit Root Hypothesis
    And you read mine, you'd see that they didn't. They projected 8% with a wide margin of error.

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