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Thread: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

  1. #101
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by iliveonramen View Post
    Did you go past the headline? I know conservatives tend to always talk about Obama being a messiah but he doesn't control the weather.
    Conservatives didn't portray him with a halo in the media though did they.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Tettsuo View Post
    I thought you guys believe the numbers given by the government were BS.

    Is it accurate now?
    I doubt they are accurate considering that the current administration is dependent on cooking the numbers, doesn't matter if it's the economy, secured borders or repealing DADT.

    The actual GDP is probably worst than what we are being led to believe.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by apdst View Post
    The government can't fix, nor maintain the economy with regulation, or cash infusion. Anyone that thinks it can is living in fantasyland.
    Pick up a history book on economics and you will find many examples of just that happening, sometimes at great success, sometimes at great failure.

  4. #104
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Verax View Post
    Pick up a history book on economics and you will find many examples of just that happening, sometimes at great success, sometimes at great failure.
    Most times, at great failure. Zero times was there permanent success. The last 7 years prov that the goavernment can't fix the econony.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Verax View Post
    Pick up a history book on economics and you will find many examples of just that happening, sometimes at great success, sometimes at great failure.
    Can you give an example of one of the great successes?

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by AlbqOwl View Post
    Okay, then I stand by what I said. I know a LOT of small business owners and also folks who are working for big corporations and they're all either hurting or expecting to be hurt. If there has been 4% growth this quarter, they sure aren't feeling it as they sweat out whether they'll have a job or if they will be able to keep the employees they have left.
    It is the totally opposite situation here we are reaching new highs, especially Bay St. profits. The only sector that is planned to slow down is real estate which we want to slow down.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by apdst View Post
    4%? That's a dream!
    Well it is just what is being forecast by economists.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    Are you really this bullheaded. Do you understand what payroll taxes fund?
    Yes, they fund Social Security. And a payroll tax cut is still a tax cut.


    Do you understand what a rebate is? How does giving you 500 stimulate the economy long term?
    a) Yes, of course I understand what a rebate is.
    b) It helped cushion the blow when the economy was at a particularly rough patch, by getting people to spend, and via mechanisms with high multipliers. You DO know what a multiplier is, right? And why something like unemployment benefits, or a $400 break on your paycheck, tends to have a higher multiplier...?
    c) The payroll tax cut was never intended as a long-term stimulus. It was always meant to be temporary, which is why it expired already.


    Income tax cuts stimulate the economy because they are ongoing....$4200 in unemployment insurance excluded from taxes? Nice long term benefit, isn't it?
    Where are you getting this "long term" requirement from? These tax cuts were always intended to be short-term, as was the spending. The long-term effects are indirect, namely they helped cushion the economy a little bit in the worst periods.


    Child tax credit? How about the millions and millions who don't have children? Good for how long? Tuition credit? wow, now there is a job creator and stimulator
    So... in your opinion, a tax cut isn't a tax cut if it only applies to some people?


    First time home owner rebate? Great, don't you have to have a job to buy a home and continue to make the payments?
    Uh, no. Not even close. It was a big tax rebate ($8000 at its peak), which you'd lose if you sold the home in less than 3 years. By the time the rebate was in place, banks had already increased lending standards because of the excesses during the real estate bubble. It also was a big boost for real estate, as noticed when people were basically trying to buy before the credit expired.


    You don't understand economics, you don't understand the budget, you don't understand your own budget, or how to create jobs in a private sector economy. There is a disconnect between what you know and what the public in general sees. One of you are wrong, which one do you think it is?
    Sorry, but it's you.

    I've studied quite a bit of economics, including how and why a stimulus is supposed to work, why it's patently ridiculous to insist that a tax cut must be long-term in order to have any affect, how government budgets work, how bubbles form and perpetuate, how a lack of regulation in many key areas caused the last recession, and how limited governments are in terms of creating private sector jobs.


    Do you know what a temporary increase in AMT Means?
    OBVIOUSLY. In that case, it meant a one-year break for anyone bumping into AMT territory.


    Poor economic growth to a liberal is still growth to be touted?
    Your attempts to deflect are failing.

    You are the one claiming that GDP growth of $1.7 trillion in recent years is due to an $850 billion stimulus, 1/3 of which is *cough* short-term tax cuts. You should explain your claim in more detail.


    You really don't like this country much, do you? So now children are up to the age of 26? Why 26? Where is the incentive to get a job?
    What the...?

    I do like this country. I really don't see why "keeping offspring on parent's insurance" indicates that anyone "hates America" or is a disincentive to get a job. Rather, it's an expedient method to expand insurance coverage.


    Yep, 7.3 million part time employees today according to BLS and all want full time work but cannot find it. Any suggestions? You think Obama policies create incentives to hire?
    I think that there really isn't much that a government can do to encourage hiring. An employer isn't going to take on an employee who will cost him $50,000 a year just to get a $2,500 tax cut. We can't force companies to keep employees in the US. We can't force companies not to automate jobs.


    How is that working out for our Veterans? how is that working out for those of us that actually pay taxes to the IRS? You think the govt. can do tasks that the private sector cannot? What tasks would that be?
    The VA actually did a pretty good job overall until the last ~10 years. For decades, they had one of the best hospital systems in the US. The root of their problems extend across multiple administrations.

    As to the tasks, I'd say they include: Defense, police, courts, oversight of industries, education, managing roads, handling parks, providing services for the poor, doing R&D. They actually do a pretty good job of it -- in many cases, better than the private sector. I might add that lots of governments do a good job of providing health care for their citizens.


    Do you understand that our Founders had a part time legislature?
    Do you understand that in 1790, the total US population was less than 4 million people? About half of US states have a larger population today than the entire US in 1790.


    Why do we need a 3.9 trillion dollar federal budget?
    Well, one reason is that people want benefits and services, and don't want to pay for them. Both Democrats and Republicans are willing to borrow to meet those demands. Republicans don't even want to collect taxes for those services.


    Corporate America doesn't drive the U.S. economy, the small businesses many of whom are Mom and Pop operations do and Obama is doing nothing to help them.
    Actually, it's both. Small businesses are responsible for about half of all US employees.


    Those are the people that are now unemployed and not counted in the BLS data.
    Uh, no, they're counted. BLS uses the Current Population Survey to determine unemployment. There's a separate statistic for people who are collecting unemployment benefits.


    We have had over 5 years of stagnant economic growth, high unemployment, high debt. When is enough enough for people like you?
    We've had about 5 years of positive growth after a devastating recession. Unemployment always lags, and it is slowly getting better. Changes in labor force participation is a multi-decade trend. How much information do you need to recognize that blaming the guy who got into office after the recession started isn't actually correct?


    When you figure out the components of GDP and what they contribute you will have your answer. I could give you the answer but then you would just ignore it
    Uh, hello? McFly? I did just list them.
    • Personal consumption
    • Business (private sector) spending
    • Government spending
    • Imports and Exports

    So I ask you again. How did $600 billion in spending over two years result in $1.7 trillion in GDP growth over 4 years?

  9. #109
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Maenad View Post
    Failing to remedy this problem IS Obama's fault. He promoted himself as one having all the answers. But he has done nothing except blame someone else for problems he claimed to know how to fix. And the ones he has fixed, one being namely the war in Iraq, have blown up in his sorry little face.
    For Christ's sake. The current state of affairs is good for corporate America, both parties pander to corporate America, all economic policies you'll see coming out of Washington will be beneficial to corporate America and I'd does not matter whether a smart ass or a dumb elephant is running things. But I'm pretty sure the dumb elephants appreciate you guys.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Maenad View Post
    Well, if I have, then please accept my sincere apology. But I am simply amazed at the number of people who can see his blazing incompetence and still stick by him.
    I don't stick by Obama. I just am disgusted by partisan rhetoric from both sides which ignores that we have been colossally screwed by both sides.
    Killing one person is murder, killing 100,000 is foreign policy

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