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Thread: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, negativ

  1. #131
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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by jpevans View Post
    As President Obama was saying in comparisin to the public sector, the private sector is doing fine. Now the right can retire 57 states, the prez made a new gaffe.
    The public Sector has enjoyed under 5% unemployment for all but a month or two since 2008.

    Table A-14. Unemployed persons by industry and class of worker, not seasonally adjusted
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by Grant View Post

    It was still nowhere near $16 trillion dollars and there was obviously an end in sight.
    What are you talking about, "there was an end in sight?" There was no end in sight. 5 of Reagan's budgets resulted in record breaking deficits as he went on to triple the debt. Thre was no end in sight when GHW Bush became president, gave us 4 record deficits, the lowest of whcih was even higher than Reagan's worst, as he went on to increase the debt 54% in 4 years. Then Bush became president and made his father's deficits look like chump change as he gave us record breaking deficits in 5 of his 8 years, including the first trillion dollar deficit as he increased the debt another 86%. There was no end in sight for any president since the 1980's except for Clinton, who lowered the deficit every year he was in office.

    Quote Originally Posted by Grant View Post

    There is no such end in this presidency because, as everyone can see, Barack Obama is no Ronald Reagan. Reagan led America to prosperity. Do you seriously believe Obama can do the same???
    I believe prosperity of the level I believe you're talking about is still years away but I also believe it has nothing to do with who will be president. The difference between Reagan's economy and Obama's is in the tools available for them to fight off recession. Reagan had a top margin tax rate of 70% to work with. Obama doesn't have that as taxes are already about as low as they can go. Reagan had enormously high interest rates that could be brought down. Obama doesn't have that as interest rates also can't go lower. Reagan had high inflation which could be brought down to help the economy. Obama came into office with no inflation as we headed into a brief period of deflation.

    The point being that the economy Reagan had to deal with was a recession he and Volker created to fight inflation, one that the had some control over and tools at their disposal to help the economy.

    Bush left Obama an economy that was completely broken structurely and no tools to fight it. The housing market, which is a large part of our economy, was in shambles and is still hurting. The only tool Obama could use was to flood the economy with money to keep it going until the private sector could get back on its feet. Something which wasn't done under Hoover as money was pulled out of the economy, leading to the Great Depression. But the cost of that was increasing the debt. But again, there were no other tools at his disposal to deal with a completely broken economy.

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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by sawyerloggingon View Post
    The blue font makes you look insane.
    Its just an attention thing. He thinks it "sets him apart" from the rest.

    It really just makes him look foolish.

  4. #134
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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by dontworrybehappy View Post
    Its just an attention thing. He thinks it "sets him apart" from the rest.

    It really just makes him look foolish.
    Best to focus on his font, as he's kicking your ass when you consider the words.
    "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

  5. #135
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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by dontworrybehappy View Post
    Its just an attention thing. He thinks it "sets him apart" from the rest.

    It really just makes him look foolish.
    Or maybe he just likes blue. Or possibly he got it from the Israeli flag....

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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by Sheik Yerbuti View Post
    What are you talking about, "there was an end in sight?" There was no end in sight. 5 of Reagan's budgets resulted in record breaking deficits as he went on to triple the debt. Thre was no end in sight when GHW Bush became president, gave us 4 record deficits, the lowest of whcih was even higher than Reagan's worst, as he went on to increase the debt 54% in 4 years. Then Bush became president and made his father's deficits look like chump change as he gave us record breaking deficits in 5 of his 8 years, including the first trillion dollar deficit as he increased the debt another 86%. There was no end in sight for any president since the 1980's except for Clinton, who lowered the deficit every year he was in office.


    I believe prosperity of the level I believe you're talking about is still years away but I also believe it has nothing to do with who will be president. The difference between Reagan's economy and Obama's is in the tools available for them to fight off recession. Reagan had a top margin tax rate of 70% to work with. Obama doesn't have that as taxes are already about as low as they can go. Reagan had enormously high interest rates that could be brought down. Obama doesn't have that as interest rates also can't go lower. Reagan had high inflation which could be brought down to help the economy. Obama came into office with no inflation as we headed into a brief period of deflation.

    The point being that the economy Reagan had to deal with was a recession he and Volker created to fight inflation, one that the had some control over and tools at their disposal to help the economy.

    Bush left Obama an economy that was completely broken structurely and no tools to fight it. The housing market, which is a large part of our economy, was in shambles and is still hurting. The only tool Obama could use was to flood the economy with money to keep it going until the private sector could get back on its feet. Something which wasn't done under Hoover as money was pulled out of the economy, leading to the Great Depression. But the cost of that was increasing the debt. But again, there were no other tools at his disposal to deal with a completely broken economy.
    Fascinating stuff. If this is the typical view of US history I fear for the future of the United States.

  7. #137
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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by AdamT View Post
    Best to focus on his font, as he's kicking your ass when you consider the words.

    Funny, only a true believer partisan would think a fellow traveler partisan is winning an argument based solely on opinion...


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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by j-mac View Post
    Funny, only a true believer partisan would think a fellow traveler partisan is winning an argument based solely on opinion...


    j-mac
    Funny that you would try to pull that off when it's plain as day that Sheik's posts are almost always packed with facts.
    "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

  9. #139
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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by winston53660 View Post
    With record breaking profits how can one say the private sector is doing bad?
    Even President Obama back tracked and said the economy wasn't doing fine...

    When will you?

    President Barack Obama stressed on Friday the U.S. economy was "not doing fine," seeking to clarify his earlier comments about the health of the private sector that Republicans pounced on to try to paint him as out of touch.
    UPDATE 2-Obama says it's clear US economy 'not doing fine' | Reuters
    Last edited by Μολὼν λαβέ; 06-10-12 at 04:41 PM.
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  10. #140
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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by AdamT View Post
    Funny that you would try to pull that off when it's plain as day that Sheik's posts are almost always packed with facts.

    Facts? Why because he says it in blue? Oh, almost forgot, he says it with malice, and in blue.....Certainly few links to where he is making his **** up, but thankfully we are not like the majority of American sheep, we on both sides pay more attention to news and current events. And from what I see he might as well post Cris Matthews scripts and be done with it.....Yawn!


    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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