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Thread: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

  1. #1411
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

    Quote Originally Posted by Sheik Yerbuti View Post
    Ya gotta just love righties' attempts to make Bush look better than the complete incompetent he was, I tell ya.

    ...............

    Bush didn't hand Obama a $400b deficit, he handed him a $1200b deficit, 3x the size of the deficit you're pretending it was. That $400b deficit was the CBO's esitimate of expected shortfall from Bush's FY2009 budget proposal in April, 2008. However, near the end of Bush's term, the CBO revised their estimate based on the Continuing Resolution Bush signed in September, 2008 and based on the downturn in the economy and based on TARP.


    CBO projects that the deficit this year will total $1.2 trillion

    ~ The Budget and Economic Outlook: Fiscal Years 2009 to 2019
    I will accept the amount proposed in Bush's budget to congress which was 670billion. I will not accept that hes responsible for the additional $400B in spending that democrats added to his proposal, I will not accept that republicans are solely responsible for TARP, when it was greatly expanded under Obama for fiscal 2009. I will not accept that Obama is blameless when the Democrats had both houses and the White House their agenda was not to get a budget that reined in spending but made the 2009 spending the baseline and have blocked all attempts to curtail spending.

    Your opinions are laughable on this. Obama is a tax and spend democrat. You know it, I know it. Playing out this farce requires you to cherry pick data and ignore the totality of the Obama record. Repeat after me: Obama is the President. The deficit and the economy are HIS responsibility. If you cant manage that, and its patently obvious you can't, you should stop talking because whatever you have to say isn't worth hearing.

  2. #1412
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Sheik Yerbuti View Post
    It's unbelievable how you expect Obam to completely revert the effects of the recession in such a short period of time. In just the 18 month period of Bush's Great Recssion, employment fell by 6.6 million jobs. As unemployment is a lagging indicator of the economy, another 2 million jobs were lost in the months following the recession. The job market didn't turn around until 2010. Between 2008 and 2009, a staggering 8.6 million jobs were lost.

    And that's only considering lost employment figures. If we look at the under/unemployment/discouraged figures for that period, there were 13,261,380 jobs lost.

    The guy you voted for four times gives us a mess which saw 13,261,380 jobs disappear in a 2 year period -- and here you are bitching and moaning because a member of the ideology you openly despise has not been able to fully recover from that in just the 3 years since the job market turned around from Bush's Great Recession.


    Reagan did it a lot quicker than Obama and did it with great leadership, something neither you or Obama understand. Improving the numbers he inherited which as you claimed weren't that good isn't much to be proud of especially with the money that was spent. When he gets back to the employment rate of December 2007 and a more realistic labor force then you will have something to crow about.

    What I love about you is you always look in the rear view mirror to distort data and ignore the present data which is there for all to see.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

    Quote Originally Posted by Sheik Yerbuti View Post
    Seems you're the one who doesn't understand that video. Bush even exaplains in it what he meant by 'qualified' ... easing the restrictiions to qualify. "help the people pay that downpayment". His plan was to relax qualifications so that more people who wouldn't otherwise qualify because they couldn't afford the home they were buying, could buy the home anyway. That was one of the causes of the crash and that video shows Bush promoting the idea.

    ... g'head, this is where you respond with invective in lieu of debate ...
    Easing the restrictions amounted to not having the money for a downpayment which has nothing to do with interest rates, variable rate loans, or buying a house they cannot afford. You have a very selective reading comprehension problem based solely on your invested time in hatred and misinformation regarding Bush. Put down the leftwing blogs and take responsibility for the failures of Obama and Democrats.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    Look at who is talking, the guy that called the housing bubble "wealth creation"!
    Seems very telling that you don't understand how the free market works, nor any basic understanding of economic data. don't know if you are female or not but you certainly have to have the last word. A lot of people made a lot of money during 2003-2007 which you and others want to ignore, just like a lot people made money from 1997-2000 but I don't hear you ranting about the Clinton years. You see bubbles are indeed opportunities to create wealth because rising tide raises all boats not just the real estate market. Further I have yet to hear how the recession hurt you and your family. I didn't lose a dime in the recession because I didn't sell, did you?

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post
    The U-3 is the official rate. Sorry you do not know that. Oh well.
    A rather silly remark.

    Now where did the Fed state (even the essence) that you should add 1/2 of those who left the labor force because the "economy stinks" to U-3? If i didn't know any better, i would think you just made that up!
    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: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Conservative View Post
    Prior to that from 2003-2007 there was incredible wealth creation and growth which seems to escape a lot of people. That has been reversed and Obama had nothing to do with it other than trying to destroy it again
    The problem is, the incredible wealth creation and economic growth that occurred between 2003 and 2007 was completely wiped out by 2009. An entire decade of gains down the drain. Without trillion dollar+ deficits, the economy goes to hell in a handbasket. If low taxes and deregulation were the catalyst of economic growth, how on earth did we get here to begin with?

    It is far more complicated than "it's all Obama's fault" just as it is far more complicated than "it's all Bush's fault".

    Right now, the world economy is still overcoming the negative wealth effect of 2008-2009; not something that reverses overnight (households have yet to recover!).

    Some food for thought: "The End Loser of Liberalism"
    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: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Kushinator View Post
    The problem is, the incredible wealth creation and economic growth that occurred between 2003 and 2007 was completely wiped out by 2009. An entire decade of gains down the drain. Without trillion dollar+ deficits, the economy goes to hell in a handbasket. If low taxes and deregulation were the catalyst of economic growth, how on earth did we get here to begin with?

    It is far more complicated than "it's all Obama's fault" just as it is far more complicated than "it's all Bush's fault".

    Right now, the world economy is still overcoming the negative wealth effect of 2008-2009; not something that reverses overnight (households have yet to recover!).
    How much wealth did you lose? I didn't lose a dime, does that make me smarter than most? Don't think so. Those that didn't sell didn't lose anything. Low taxes and deregulations are a key to any economic growth as they provide incentive to grow and expand due to financial gain from their efforts. Works all the time, problem is sometimes a few unscrupulous individuals cause an over reaction by those who don't like the private sector and capitalism.

    The world economy, especially Europe, is driven by govt. spending. Ours is a private sector economy where govt. spending does very little except create debt and we all know debt has to be serviced and that can cause high inflation and real economic problems.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Conservative View Post
    Seems very telling that you don't understand how the free market works, nor any basic understanding of economic data. don't know if you are female or not but you certainly have to have the last word. A lot of people made a lot of money during 2003-2007 which you and others want to ignore, just like a lot people made money from 1997-2000 but I don't hear you ranting about the Clinton years. You see bubbles are indeed opportunities to create wealth because rising tide raises all boats not just the real estate market. Further I have yet to hear how the recession hurt you and your family. I didn't lose a dime in the recession because I didn't sell, did you?
    This argument of yours just gets dumber and dumber, your argument is that since a few people made out like bandits during the housing bubble 03-06, we therefore can call that a period of "wealth creation", EVEN THOUGH that when the bubble popped, average household wealth DECLINED by $16 TRILLION. Bubbles are described as such BECAUSE THEY POP, that is not a good thing, stop trying to make speculative bubbles into a good thing.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Conservative View Post
    don't know if you are female or not but you certainly have to have the last word.
    Attempted insult toward women is noted.

    A lot of people made a lot of money during 2003-2007 which you and others want to ignore, just like a lot people made money from 1997-2000 but I don't hear you ranting about the Clinton years. You see bubbles are indeed opportunities to create wealth because rising tide raises all boats not just the real estate market. Further I have yet to hear how the recession hurt you and your family. I didn't lose a dime in the recession because I didn't sell, did you?
    You are ignoring the magnitude!

    Household Net Wealth

    The Clinton years:



    The Bush years:

    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

  10. #1420
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    This argument of yours just gets dumber and dumber, your argument is that since a few people made out like bandits during the housing bubble 03-06, we therefore can call that a period of "wealth creation", EVEN THOUGH that when the bubble popped, average household wealth DECLINED by $16 TRILLION. Bubbles are described as such BECAUSE THEY POP, that is not a good thing, stop trying to make speculative bubbles into a good thing.
    Average household wealth didn't decline by 16 trillion dollars and wealth only declined if you sold at the bottom. I didn't sell, did you? You want badly to blame Republicans and Bush for all your problems while ignoring the biggest problem of all, people failing to accept personal responsibility and expecting someone else to bail them out.

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