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Thread: Economy's Biggest Drag Right Now Is Government

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    Re: Economy's Biggest Drag Right Now Is Government

    Yes, reduction in government spending can indeed reduce economic growth.

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    Re: Economy's Biggest Drag Right Now Is Government

    Ok, I went back and re read...I got the article wrong. Long week I guess...Anyway, this is insane. we need to create MORE funny money out of thin air, based on increased borrowing?

    I got the thread wrong no big deal...Libs are getting this all wrong and we will collapse. So yeah, let's keep poking fun at me....It's all good.


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    Re: Economy's Biggest Drag Right Now Is Government

    Rarely has a thread backfired so violently.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... 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."

    -- Adam Smith

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by AdamT View Post
    Rarely has a thread backfired so violently.
    clearly, this is the thread that just keeps on giving.

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by StillBallin75 View Post
    So public spending is cut back...GDP growth slows...and you're complaining that government is dragging down the economy? That makes absolutely no sense.

    Government spending and the threat of more taxation is causing people to slow down their spending. It's also causing small businesses to decide not to expand their operations.

    Bottom line is, the government didn't create this country--the strongest country with the strongest economy in history--and the government can't end the recession.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by apdst View Post
    Government spending and the threat of more taxation is causing people to slow down their spending.
    Bull****. The article explicitly states that the latest report cites a surge in consumer spending. You have no idea what you're talking about.

    It's also causing small businesses to decide not to expand their operations.
    Depends on the business in question, and where you are geographically located. But the primary determinant of whether or not a business owner decides to expand is business demand, not so much tax policy. Besides, 99% of what we call "small businesses" aren't under any threat of increased federal tax hikes under the Obama Administration.

    Bottom line is, the government didn't create this country--the strongest country with the strongest economy in history--and the government can't end the recession.
    Whatever dude.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by AdamT View Post
    Rarely has a thread backfired so violently.

    Yep, I deserve that...Can we talk about the article now?


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by StillBallin75 View Post
    Bull****. The article explicitly states that the latest report cites a surge in consumer spending. You have no idea what you're talking about.
    Other sources I have seen, seem to point to the supposed "surge" to a couple of things.

    1. People can't hold off certain durable goods purchase forever, so that may be a temporary jump.

    2. Artificial numbers manipulation make things look other than what they are.

    Depends on the business in question, and where you are geographically located. But the primary determinant of whether or not a business owner decides to expand is business demand, not so much tax policy. Besides, 99% of what we call "small businesses" aren't under any threat of increased federal tax hikes under the Obama Administration.
    Obama, and Co. has stated more than enough times that the threshold of desire to hike tax rate starts at $250K. That is squarely aimed at small business in this country. Expansion also has the threat of Obamacare waiting to be unleashed upon it. This would bankrupt many small businesses hanging on by a thread these days.

    Whatever dude.
    Ok, so here it is in a nutshell. If someone opposes what you believe you throw up the hand, and that is the end of it? But your rhetoric would suggest that you would be among those saying that it is republicans not working with Obama and Co., when in reality it is really demo's like you saying "do it our way, or STFU"....


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by j-mac View Post
    Yep, I deserve that...Can we talk about the article now?


    j-mac
    It's pretty simple: the recovery is going okay -- not great, but okay -- in the private sector, but it's being hampered by government austerity at the state, and to an extent, the federal level. One of the main things the stimulus did was assist the states, allowing them to minimize layoffs for several years. Now that the stimulus has run out and tax revenues are still somewhat depressed, the states are having to cut payroll, which is offsetting gains in the private sector. The trend is being exacerbated by the Tea Party governors who don't consider government jobs "real" jobs. Fortunately the overall economy is still growing and thus tax revenues are coming back, so hopefully this trend will bottom out soon. The states can only cut payroll so much before they have to start hiring again.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... 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."

    -- Adam Smith

  10. #20
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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by AdamT View Post
    It's pretty simple: the recovery is going okay -- not great, but okay -- in the private sector...
    I don't think those out there still unemployed, underemployed, losing their homes, destroying their credit, to the tune of a real number closer to 12% would agree here.

    So this is now the norm?

    but it's being hampered by government austerity at the state, and to an extent, the federal level.
    How much 'funny money' can a country create before our money is just plain worthless? Obama deficits dwarf that of Bush's in half the time, and yet Obama called Bush 'unpatriotic' for his, so what does that make Barry?

    One of the main things the stimulus did was assist the states, allowing them to minimize layoffs for several years.
    In State Government jobs maybe, certainly nothing was done on that level for the private sector whom BTW still is the lion share of jobs.

    Now that the stimulus has run out and tax revenues are still somewhat depressed, the states are having to cut payroll, which is offsetting gains in the private sector.
    So, you are running out of other peoples money, and you want to blame the failure on the people you just fleeced?

    The trend is being exacerbated by the Tea Party governors who don't consider government jobs "real" jobs.
    Well, the GSA certainly proved that didn't they? Hell, My company doesn't have a summer picnic, or a Christmas party anymore, Hell, we don't even get a Turkey for Thanksgiving much less a million dollar junket to Vegas....

    Fortunately the overall economy is still growing and thus tax revenues are coming back, so hopefully this trend will bottom out soon.
    I don't know as if I trust ANY of the numbers coming from the liars in DC anymore...

    The states can only cut payroll so much before they have to start hiring again.
    Some of it may be cyclical, sure, but look we have to come to the realization that what is being done right now is a failure.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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