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Thread: Economy shrinks for first time in 3 1/2 years[W: 395]

  1. #221
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Conservative View Post
    Not that results matter to the Obama cult but further signs that we are on the wrong path and that Obama doesn't have any interest in growing a private sector economy. The new normal today is high unemployment, high debt, massive dependence on the govt, and low economic growth. Congratulations to those of you who believe it is the role of the govt. to provide cradle to grave coverage funded by the rich.

    US economy shrinks 0.1 percent, 1st time in 3 1/2 years | Fox News
    1) Conservatives don't like government spending.

    2) Government spending declined by 22.2% during the 4th quarter of last year.

    3) Reduced government spending is the reason the economy contracted by 0.1%.

    Sounds to me like you are blaming Obama for the government reducing it's spending last year. I thought reduced government spending was something you were in favor of.

    4) So are you a tax and spend Liberal?
    Last edited by danarhea; 01-31-13 at 02:58 PM.
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Juiposa View Post
    Cutting spending OR raising taxes will cause recession, especially with the $1 trillion you guys need to balance. A minor recession is enevitable when balancing a deficit so large.
    How about cutting spending and cutting taxes?

    You do realize that the same rules that apply to microeconomics apply to government? I love how some people believe the government can just wave a wand and make these rules disappear.

    The problem is that we have some of the dumbest people in this country running it and many believe these idiots are intellectually superior just because they're politicians.

    The truth is our congress couldn't run a profitable hot dog stand without imploding.

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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by Mr.Nick View Post
    How about cutting spending and cutting taxes?

    You do realize that the same rules that apply to microeconomics apply to government? I love how some people believe the government can just wave a wand and make these rules disappear.

    The problem is that we have some of the dumbest people in this country running it and many believe these idiots are intellectually superior just because they're politicians.

    The truth is our congress couldn't run a profitable hot dog stand without imploding.
    No, macroeconomic do not follow the same "rules' as macroeconomics, as every economic study shows, libertarian metaphors notwithstanding. For instance, thrift is not reward on the macroeconomic level, and lots of credit can produce lots of economic growth and wealth. Indeed, it is the basis of modern capitalism and the system you live in and benefit from, but apparently don't understand.

    For instance cutting taxes on the rich leads to income gaps, which lead to high risk investing, which leads to bubbles, which leads to recession. Every single recession in the US has been preceeded by a spike in the income gap -- the bigger the spike, the worse the recession.

    Thus Bush's tax cuts for Paris Hilton lead directly to the Bush Meltdown, the biggest recession in 70 years. See how it works: macroeconomics is its own bag and it has nothing to do with libertarian and tea party nostrums about being thrifty.
    Last edited by head of joaquin; 01-31-13 at 03:04 PM.

  4. #224
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by danarhea View Post
    1) Conservatives don't like government spending.

    2) Government spending declined by 22.2% during the 4th quarter of last year.

    3) Reduced government spending is the reason the economy contracted by 0.1%.

    Sounds to me like you are blaming Obama for the government reducing it's spending last year. I thought reduced government spending was something you were in favor of.

    4) So are you a tax and spend Liberal?
    While I am not a conservative (they are too big-government for my taste), I usually don't miss any opportunity to blast Obama's economic and fiscal policies. They are horrible, in my ever-humble opinion
    .
    I should note, however, that in this instance the reduced government spending is not even a reason for the contraction: it is the contraction. People seem to be forgeting how GDP is calculated.

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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by danarhea View Post
    1) Conservatives don't like government spending.

    2) Government spending declined by 22.2% during the 4th quarter of last year.

    3) Reduced government spending is the reason the economy contracted by 0.1%.

    Sounds to me like you are blaming Obama for the government reducing it's spending last year. I thought reduced government spending was something you were in favor of.

    4) So are you a tax and spend Liberal?
    Reduced for the first 1/4? How did it do for the year?

    The fact is that there have been no budgets passed and money is being borrowed in order to try and meet government spending, with records of trillions in debt and more people dependent on government than ever before in American history. Do Leftists feel this is a good sustainable policy?

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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by iguanaman View Post
    It is better than recession. That's what the Europeans found out. Besides the wealthy don't spend more than a few % of their incomes so their money is put back in the economy instead of hedge funds when Govt. spends it.

    And every one of those countries spends and taxes more than us as a % of gdp.

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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by disneydude View Post
    LOL...I've been hearing that for the last twenty years. We are talking about a drop in a bucket here...and California could USE a few less people. There are too many people here already. It is expensive to live in California for good reason...because people WANT to live here. That makes it difficult for some people people you can't live here on a minimum wage job like you can in North Dakota, Kansas or Texas.
    Yes, illegals want to live there, collect welfare and have their medical bills paid.

    If you have been hearing it for 20 years then that should have been warning enough. You have no one to blame then but yourselves.

  8. #228
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by head of joaquin View Post
    No, macroeconomic do not follow the same "rules' as macroeconomics, as every economic study shows, libertarian metaphors notwithstanding. For instance, thrift is not reward on the macroeconomic level, and lots of credit can produce lots of economic growth and wealth. Indeed, it is the basis of modern capitalism and the system you live in and benefit from, but apparently don't understand.

    For instance cutting taxes on the rich leads to income gaps, which lead to high risk investing, which leads to bubbles, which leads to recession. Every single recession in the US has been preceeded by a spike in the income gap -- the bigger the spike, the worse the recession.

    Thus Bush's tax cuts for Paris Hilton lead directly to the Bush Meltdown, the biggest recession in 70 years. See how it works: macroeconomics is its own bag and it has nothing to do with libertarian and tea party nostrums about being thrifty.
    I didn't say macroeconomics I said MICROECONOMICS.

    This clearly shows you're clueless to economics.... Microeconomics - Wikipedia, the free encyclopedia

    Progressives generally have a hard time wrapping their head around microeconomics because the term "budget" is an alien word to them. Progressives generally adhere to: "spend as much as you want now and worry about paying the debt later when it comes." Of course then they cry about big business, banks or Wall Street when they come and take their house away to payoff their debt.
    Last edited by Mr.Nick; 01-31-13 at 03:47 PM.

  9. #229
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by disneydude View Post
    LOL....arguing out of both sides of your mouth again.
    Isn't it time for your shift duties at Disneyland? Since apparently you aren't making enough to pay for the services residents of California demand the financial mess your state is in doesn't matter at all.

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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by danarhea View Post
    1) Conservatives don't like government spending.

    2) Government spending declined by 22.2% during the 4th quarter of last year.

    3) Reduced government spending is the reason the economy contracted by 0.1%.

    Sounds to me like you are blaming Obama for the government reducing it's spending last year. I thought reduced government spending was something you were in favor of.

    4) So are you a tax and spend Liberal?
    No, I am holding Obama responsible for not creating incentive to offset this meager so called cut in Govt. spending. Doesn't seem to resonate with many here that govt. spending is paid for by taxes which reduce personal take home pay and affect the largest category in GDP, consumer spending. This economy should be growing well over 4% a year especially after the recession ended. Obama doesn't want a growing economy, he wants Obamabots that are dependent on govt.

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