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

  1. #411
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    Re: Economy shrinks for first time in 3 1/2 years

    Quote Originally Posted by upsideguy View Post
    You are right... we still haven't dug out from the mess left by Bush.
    How long do you blame your predecessor for your own failures? You liberals really need to get together and decide, did Bush or Congress under Democrat control create the mess Obama inherited or now is it the House totally responsible for the mess we have today even though Obama had two full years of Democrat control. Which is it, Congress, the President, or simply the House?

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

    Quote Originally Posted by Conservative View Post
    How long do you blame your predecessor for your own failures? You liberals really need to get together and decide, did Bush or Congress under Democrat control create the mess Obama inherited or now is it the House totally responsible for the mess we have today even though Obama had two full years of Democrat control. Which is it, Congress, the President, or simply the House?
    Not sure what happens before one one is elected is the new person's failures.

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

    Quote Originally Posted by Texmex View Post
    Texas is alright, especially if you are in the corporate world. If you are a worker, not so much.

    BTW, the main thing wrong with Texas is too many conservatives. But don't worry, after new immigration laws are passed, we will be mostly Mexican, so good bye GOP!
    Lol....I've lived here my entire life and if anything with the last 10 years of massive illegal immigration of Mexicans into this State we've become more Conservative. Our State House is more Conservative than it's ever been before so so much for your simple theory. Here's a word for you....."Gerrymandering"

    If your a worker in Texas and it's not "all-right" then you have only your self to blame. It's not the Conservatives fault your limited. It's not the Conservatives fault you made foolish choices in your life that have left you envious of those who earn more. It's not our fault you were not raised correctly, or feel as if your entitled to things you have not earned.

    How cowardly of a position, how deprived of merit and character is it if your only option is to wash a State with law breakers with a different nationality and give them the right to vote ?

    Ignorant voters is what got us into this mess.
    The New Democratic Party Slogan :

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

    Quote Originally Posted by upsideguy View Post
    You are right... we still haven't dug out from the mess left by Bush.
    Hahaha....no you guys have dug a hole more massive than ever before. It's not a character attribute to follow a bankrupt ideology to it's end if it's end is failure.

    Blaming Bush really comes across as desperate and pathetic.
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

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

    Quote Originally Posted by Conservative View Post
    People don't spend net worth, they spend personal income.
    On the contrary, peoples consumption patterns are heavily dependent on their personal wealth.

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

    Quote Originally Posted by Whipsnade View Post
    The average donation to BO's campaign was $54.94.Hardly Koch like pockets.
    That doesnt mean he didnt have wealthy donors.

    Cite source materials please.

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

    Quote Originally Posted by Conservative View Post
    How long do you blame your predecessor for your own failures? You liberals really need to get together and decide, did Bush or Congress under Democrat control create the mess Obama inherited or now is it the House totally responsible for the mess we have today even though Obama had two full years of Democrat control. Which is it, Congress, the President, or simply the House?
    There is no ambiguity at all. The policies of the Bush administration took essentially a balanced budget and turned it into substantial deficits via tax cuts, two unfunded wars (never in US history have we simultaneously started a war, much less two, and cut taxes) and significantly expanded an entitlement (Medicare Part D), again with no funding plan. This created very large deficits of the $500-700B level, which then became huge deficits when the economy cratered in 2008, taking another $400B of tax revenue and requiring a $100B in increased unemployment benefits (thus taking the $500-700B running deficit and adding $500B).

    These were policies of the Bush administration set into place from 2001 to 2004 and passed by that congress. This was when good ship USA hit the iceberg and began taking in water. When the congress of 2006 was sworn in, we already had substantial water flooding the hull. When te seas got rougher in 2008 from a bad economy (the seeds of which were planted during the 10 years prior), we began to list. Sorry that the current guy hasn't fixed the problem, but he was not the guy that steered the ship into the iceberg. He has merely been trying to fix it. If it takes 50 years to fix the ship; then Bush, rightfully, gets blamed for 50 years.

    I am not now, nor have I ever been, ambiguous about where the blame lies.

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

    Quote Originally Posted by OpportunityCost View Post
    That doesnt mean he didnt have wealthy donors.

    Cite source materials please.
    If you consider pacs wealthy donors; sure he had pacs but nothing that equals roves American crossroads, are the Koch brothers Americans for Prosperity, who outspent BO, s pac by an 8-to-1 margin the month before the election. The key is, it was a waste of money, might as well thru in a sewer with the candidate that the republicans fielded. Look at the candidates you had to choose from, the only one that had half a chance of winning was Jon Huntsman, he got drummed out by the clown show in January. It went downhill from there.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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

    Quote Originally Posted by Whipsnade View Post
    If you consider pacs wealthy donors; sure he had pacs but nothing that equals roves American crossroads, are the Koch brothers Americans for Prosperity, who outspent BO, s pac by an 8-to-1 margin the month before the election. The key is, it was a waste of money, might as well thru in a sewer with the candidate that the republicans fielded. Look at the candidates you had to choose from, the only one that had half a chance of winning was Jon Huntsman, he got drummed out by the clown show in January. It went downhill from there.
    Right. Youve got rhetoric. Nothing to back it up with. Hows the kool aid?

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

    Quote Originally Posted by Conservative View Post
    People experience paper losses every day and net worth loss is a paper loss. Wall Street recovered quite well, main street not so well.
    Certainly not of similar magnitude. Also, this paper loss you speak of so casually quite obviously affects the every day habits of your average Joe. The easiest example would be the decimation of retirement designated funds that pushed many back into the labor force long past an optimal age, or invariably towards higher risk investments during a period customarily predestined for low to no risk, nest egg maintaining investments.

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