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

  1. #31
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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Here's two concepts that it appears Republicans and Fox News are having problem with, doing fine ≠ flourishing, and job growth ≠ record job growth.

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

    Quote Originally Posted by PeteEU View Post
    So the private sector is doing better then.. thanks for pointing that out and proving Obama correct.

    Oh and that link. HAHAH.. she is actually trying to argue that seasonally unadjusted numbers actually mean something.. pathetic.

    You and Obama can tell the 8.2% of unemployed Americans the private sector is just fine. Maybe where you live being on food stamps is "fine" but its not in the USA whether you and Obama think so or not.

    Food-Stamps-Yearly.jpg
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    Generalizations are stupid.
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    The Second Amendment has nothing to do with guns.

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

    Quote Originally Posted by Hare View Post
    Silly thing to say, given the overall state of the economy in a election year no less, but his broader point is something that must be considered, the only area in which state and local governments have direct influence and oversight has also experienced the heaviest job losses. Instead of attempting to design another heavily incentive based stimulus, why not directly fund the retainment of the current labor force? At this point, it seems like a no-brainer, further lay-offs coupled with already anemic growth isn't a ideal scenario.
    The ONLY reason that state and local gov'ts are cutting "the fat" is that they must balance their budgets, unlike the federal gov't that is free to borrow (or print) unlimtted funds. The federal gov't under Obama has increased average annual federal spending from 20% of GDP to 24% of GDP (yep, a 20% increase) yet has left federal taxation unchanged at 17% of GDP, creating a permanent 40% federal defict that is clearly unsustainable.

    As long as the federal gov't is willing to spend far more that it DARE ask in taxation the private economy will not improve; every dollar borrowed or taken by the gov't is a dollar that is not available to the private economy. The notion that the gov't may take from the rich and give to the poor to "create" spending demand is insane, since it must remain in place FOREVER to "work". We have seen what these "jump start" mass infusions of borrowed cash have done, which is darn little (if anything). Investment in crack babies, slums, union labor using industries, bank, state and local gov't bailouts and green energy have not worked. It is time for a new plan.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  4. #34
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    Re: Obama says private sector 'doing fine,' then Standard & Poor keeps downgrade, neg

    Quote Originally Posted by ttwtt78640 View Post
    The ONLY reason that state and local gov'ts are cutting "the fat" is that they must balance their budgets, unlike the federal gov't that is free to borrow (or print) unlimtted funds. The federal gov't under Obama has increased average annual federal spending from 20% of GDP to 24% of GDP (yep, a 20% increase) yet has left federal taxation unchanged at 17% of GDP, creating a permanent 40% federal defict that is clearly unsustainable.
    That's very true, hence the necessity for federal intervention. More layoffs at this point would be highly counter-productive. Balancing budgets at the expense of growth and median wages isn't the solution.
    Last edited by a351; 06-09-12 at 11:46 AM.

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

    Quote Originally Posted by PeteEU View Post
    Hardly. The private sector is doing fine. Record profits for one.
    Yea, its not hard to make record profits when you don't pay nearly as many employees.

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

    Before you libs go to far out on a limb defending obamas stupid statement, he is already running from it so your points are moot really.

    President Barack Obama walked back his statement that the "private sector is doing fine," hours after he made the gaffe that became instant fodder for Republicans.

    "It is absolutely clear that the economy is not doing fine. That's why I had a press conference," Obama told reporters from the Oval Office while meeting Philippines President Benigno Aquino III, according to NBC News.
    President Barack Obama walked back his statement that the "private sector is doing fine," hours after he made the gaffe that became instant fodder for Republicans.

    Obama Walks It Back: "The Economy Is Not Doing Fine"

    EDIT.. On a second reading he really parsed his words here and never admitted "the private scetor" isn't doing fine. Feel free to continue defending his absurd stance.
    Last edited by sawyerloggingon; 06-09-12 at 12:20 PM.

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

    Quote Originally Posted by Karl View Post
    Could you enumerate some of those rules for us?
    Just listen to Rush.

    Once every two or three weeks he lists laws supported by the environmental whackos that push job creation to China.

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

    Quote Originally Posted by sawyerloggingon View Post
    Excellent point! First Obama blaims the economy on Bush then he says the private sector is "doing just fine". Apparently he is praising Bush.

    Better late than never. Democrats never did give Bush the praise he deserved when he was in office.

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

    Quote Originally Posted by sawyerloggingon View Post
    Summary: We are still in negative territory in terms of jobs numbers since Obama took office. We still have 740,000 FEWER jobs now than when Obama was inaugurated and 161,000 FEWER jobs in the private sector than when Obama was inaugurated.


    Molly's Middle America: How Many Jobs Has Obama Created or Lost? (March 2012 update)
    Say what?? Obama has a net gain of job of 100,000 on his watch, not a net loss of 740,000 ...

    Jan/2009: 142,187,000
    May/2012: 142,287,000


    BLS: Employed

    He also has a net gain of private sector jobs.

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

    It was a pretty bad gaffe -- on par with Romney's "I like firing people" and several others. As Mitt would say, "what's sauce for the goose is sauce for the gander."
    "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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