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Thread: CBO: Stimulus hurts economy in the long run

  1. #171
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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by j-mac View Post
    Well, I was playing around a little, but I do have a question. Where did you come up with your 25% numbers? And if we have been bleeding jobs at the rate of 400K per month, every month since Obama took over, what has he done to help.

    j-mac
    The 25% number comes from applying Okun's law under the assumption that unemployment would exceed 15% in the absence of both TARP and ARRA.
    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: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    Yes, clearly Bush inherited some problems that were created by Clinton and the Republicans in Congress: namely the commodities futures modernization act. Unfortunately he did nothing correct the problem and in fact made it worse by impeding the states from prosecuting their predatory lending laws. His tax cuts and failure to address the too-loose money supply also helped inflate the bubble.
    While all of this may or may not be true, you should have stopped at the bold part. Some people just fail to notice when they've been bitchslapped. Until you and the rest of the left can admit the Obama inheritance talking point it pure bull****, the rest of your statement is irrelevant.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by American View Post
    While all of this may or may not be true, you should have stopped at the bold part. Some people just fail to notice when they've been bitchslapped. Until you and the rest of the left can admit the Obama inheritance talking point it pure bull****, the rest of your statement is irrelevant.
    You really make yourself look foolish when you blatantly focus on only part of the picture and ignore the parts that don't fit into your prefab poltical view. You would really have to be insane to ignore the massive economic disaster that Obama walked into when trying to evaluate his performance. Everyone knew in '08 that whoever won was going to walk into an absolute sh*tstorm:

    Next president confronts staggering to-do list
    By Susan Page, USA TODAY

    October 16, 2008

    WASHINGTON Why exactly would anybody want this job?

    The candidate who wins the White House on Nov. 4 will face the most calamitous economy for any new president since Franklin Roosevelt took over amid the Depression in 1933. He'll assume command of the biggest wartime deployment of U.S. troops since Richard Nixon was sworn in during the Vietnam War in 1969.

    Their campaign promises Republican John McCain's crusade against budget earmarks, for instance, and Democrat Barack Obama's commitment to expand health care coverage almost certainly will take a back seat at the start. They'll be forced to turn to negotiating a new regulatory structure for financial institutions, rebuilding stock and housing markets, dealing with the partial nationalization of banks unveiled Tuesday and preventing an economic downturn from sliding into something worse.

    Also on the immediate agenda: managing the reduction of U.S. troops in Iraq without sacrificing hard-won security gains, and stemming a resurgent Taliban in Afghanistan.

    "Walking into the Oval Office is tough enough when you're facing kind of the ordinary challenges that face any president," says Leon Panetta, a former California congressman and White House chief of staff for President Clinton. "But whoever is elected president this time is going to face a set of crises that no president has had to face in modern times."
    Next president confronts staggering to-do list - USATODAY.com

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    You really make yourself look foolish when you blatantly focus on only part of the picture and ignore the parts that don't fit into your prefab poltical view. You would really have to be insane to ignore the massive economic disaster that Obama walked into when trying to evaluate his performance. Everyone knew in '08 that whoever won was going to walk into an absolute sh*tstorm:



    Next president confronts staggering to-do list - USATODAY.com
    Obama wanted the job, campaigned for 2 years prior to the election to get it, said he could do the job and has failed miserably. The Obama results speak for themselves. A good leader accepts the challenges and doesn't blame someone else when they fail. Obama delegated responsibility and no leader can do that. You can delegate authority but the responsibility is yours as a leader.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by Conservative View Post
    Obama wanted the job, campaigned for 2 years prior to the election to get it, said he could do the job and has failed miserably. The Obama results speak for themselves. A good leader accepts the challenges and doesn't blame someone else when they fail. Obama delegated responsibility and no leader can do that. You can delegate authority but the responsibility is yours as a leader.
    A good leader does not live in a fantasy world. Everyone knew that the next president would face challenges unprecedented since WWII. Most Americans understand that his performance has to be judged in that context. People understood it in 2008:

    "How soon would the next president be able to:

    Change the direction of the country so it is satisfactory


    Obama

    Within his first year in office

    12%

    Within two years

    20%

    By the end of his first term

    30%

    During his second term

    9%

    He won't be able to do so

    24%



    Make the economy grow again

    Obama

    Within his first year in office

    11%

    Within two years

    27%

    By the end of his first term

    29%

    During his second term

    11%

    He won't be able to do so

    19%
    Next president confronts staggering to-do list - USATODAY.com

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by AdamT View Post
    A good leader does not live in a fantasy world. Everyone knew that the next president would face challenges unprecedented since WWII. Most Americans understand that his performance has to be judged in that context. People understood it in 2008:



    Next president confronts staggering to-do list - USATODAY.com
    The next President will have the Obama mess to clean up but that next President will have the leadership skills to do it. You voted for someone totally lacking in leadership skills and total lack of ability to problem solve. The results speak for themselves. If you should ever get a management position you would understand leadership responsibility. Obama has none.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by Conservative View Post
    The next President will have the Obama mess to clean up but that next President will have the leadership skills to do it. You voted for someone totally lacking in leadership skills and total lack of ability to problem solve. The results speak for themselves. If you should ever get a management position you would understand leadership responsibility. Obama has none.
    The next president will have to deal with what is left. The slate is never completely clean when one takes over. Do you doubt this?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by Boo Radley View Post
    The next president will have to deal with what is left. The slate is never completely clean when one takes over. Do you doubt this?
    What will be left is a net job loss, declining labor force with a growing population, and over 16 trillion dollar debt.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by Conservative View Post
    What will be left is a net job loss, declining labor force with a growing population, and over 16 trillion dollar debt.
    Yep, much like what he took over. This **** is hard to fix quickly. But don't worry, if it is a republican, you'll be more forgiving.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: CBO: Stimulus hurts economy in the long run

    Quote Originally Posted by Boo Radley View Post
    Yep, much like what he took over. This **** is hard to fix quickly. But don't worry, if it is a republican, you'll be more forgiving.
    Spoken like a true liberal, debt doesn't seem to matter and the more people dependent on the govt. the better chance for Obama to get re-elected. You could give Obama a decade and his lack of leadership skills would be the same and his results would be a disaster like they are now.

    25 million unemployed or under employed Americans in 2011(bls.gov)154.1 X 16.2% Top Picks (Most Requested Statistics) : U.S. Bureau of Labor Statistics : U.S. Bureau of Labor Statistics

    14.8 million unemployed PLUS Discouraged workers Top Picks (Most Requested Statistics) : U.S. Bureau of Labor Statistics : U.S. Bureau of Labor Statistics

    2.2 million fewer jobs(bls.gov) Notice: Data not available: U.S. Bureau of Labor Statistics ln : U.S. Bureau of Labor Statistics

    4.4 trillion added to the debt in less than 3 years(U.S. Treasury Site) Government - Historical Debt Outstanding – Annual Government - Debt to the Penny (Daily History Search Application)

    1/21/2009 6,307,084,792,840.85 4,317,968,751,468.94 10,625,053,544,309.70

    11/22/2011 10,326,530,350,389.40 4,721,461,154,539.92 15,047,991,504,929.30

    Down grade of U.S. Credit rating(S&P)

    Rising Misery index 7.83 to 12.53 The United States Misery Index By Year

    38-44% JAR and well over 50-55% disapproval ratings(Gallup)
    Gallup Daily: Obama Job Approval

    US Poverty Hits Record High: 1 in 6 Americans Living Below Poverty Line | Economy Watch
    Report: Poverty hits record level - MJ Lee - POLITICO.com

    “Fast and Furious”, “Wide Receiver”

    Solyndra, Fisker, and Crony Capitalism Jobs Panel Member Whose Solar Firm Won Loan Guarantees Raises 'Conflict Of Interest' Concerns | Fox News

    Solyndra solar power company shuts down 15 months after Obama visit
    Solyndra solar power company shuts down 15 months after Obama visit

    The Tonopah Solar company in Harry Reid's Nevada is getting a $737 million loan from Obama's DOE.
    The project will produce a 110 megawatt power system and employ 45 permanent workers.
    That's costing us just $16 million per job.

    One of the investment partners in this endeavor is Pacific Corporate Group (PCG).
    The PCG executive director is Ron Pelosi who is the brother of Nancy's husband.
    But there is nothing wrong here, is there?

    U.S. Bridges, Roads Being Built by Chinese Firms | Video - ABC News
    U.S. Bridges, Roads Being Built by Chinese Firms | Video - ABC News

    Stimulus failure

    Review & Outlook:Why the Stimulus Failed - WSJ.com

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