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

  1. #221
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by imagep View Post
    If that's the case, then the federal reserve is doing a pretty good job.

    By the way, inflation was much worse under the first couple of years of Reagan - you try to pretend that it ocurred under Carter to protect who you worship.
    Really? How so, if RWR took office on 20 Jan 1981?

    Jan 1, 1984 4.19%
    Jan 1, 1983 3.71%
    Jan 1, 1982 8.39%
    Jan 1, 1981 11.83%
    Jan 1, 1980 13.91%
    Jan 1, 1979 9.28%

    US Inflation Rate by Year
    Last edited by Jack Hays; 06-25-14 at 11:26 PM.
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    I find it not amusing but sad that you don't understand that the cost of the Iraq War was funded yearly and is part of the 10.6 trillion dollar debt handed to Obama.
    I never said anything of the sort, and the figures I use do include war spending. I made a tangential comment about how Bush kept the war off-budget to point out the shenanigans they pulled, and you're blowing it out of proportion.

    But just for your edification... The Trillion-Dollar War - Reason.com


    How much of the 6.8 trillion debt Obama has amassed came from the wars?
    Well, the total cost of the wars is estimated at $4 trillion to $6 trillion. As far as I know, Obama's cut is around $370 billion, it could be more.

    Speaking of debt: When Bush 43 came into office, the debt went from $5.7 trillion to $10.7 trillion. As a percentage of GDP, it went from 56% to 85%. And as already noted, Obama was in no small part saddled with Bush policies -- most critically, the Bush tax cuts. And yet, for some reason you don't seem terribly outraged about it. Hmmm


    You cannot seem to grasp that deficits are yearly and debt is cumulative. Obama's budgets did not balance and Obama signed the 2009-10-11-12 budgets with trillion dollar deficits
    Of course I understand the difference between debts and deficits. Don't be silly.


    So now it is the estate taxes that created the debt? Wow, you are all over the place and out of your league.
    Guess again. Part of the Bush tax cuts included cutting estate taxes. And once more with feeling....




    You believe the govt. negotiates good deals? Where is the incentive to do so?
    The incentive is basic economics. One of the reasons why Medicare keeps costs down is because the federal government negotiates with hospitals and doctors. Those groups don't always like it, because they get low rates and have little negotiating room, but it works -- not just in the US, but also abroad.


    The simple fact is the war ended officially with the Status of Forces Agreement signed by Bush in 2008 with Iraq and Afghanistan is still ongoing and we are losing there now. Unbelievable how poorly informed liberals are....
    I'm sorry, but your equivocation on this point doesn't make sense. It doesn't matter when any agreements were signed. We're talking about government expenditures, and the simple fact is that the US was still conducting military operations in Iraq and Afghanistan, and still had (and has) to pay for them.


    Remove the entire cost of both Afghanistan and Iraq from 2009 to the Present and we still have trillion dollar deficits....
    Sure. Remove the effects of the Bush tax cuts, and we don't have trillion dollar deficits.


    Now there you go again, please tell me why SS and Medicare are on budget and even considered? those should be off budget and in that Al Gore lock box. Why aren't they?
    Why do YOU include it? The $3.9 trillion spending figure for 2015 that you keep citing includes $902 billion for Social Security, and $532 billion for Medicare.

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

    Quote Originally Posted by Conservative View Post
    Do you have any idea what happens to the value of money if you continue to print it?
    Of course I do. And like I said, the US does NOT have any issues raising funds to pay what it owes.


    the U.S. does have problems meeting its payments and does so by printing money and by borrowing money.
    No, they really don't. If they did, we'd be seeing inflation in the double digits or more.


    Sorry, but that is your opinion, any idea how much of the budget is debt service? couldn't that money be put to better use?
    FY2015 is projected at $251 billion. Considering that it gets us access to the funds we need to run the government, and that interest rates are ridiculously low, it's not a bad deal.


    What bothers me is the extent this Administration is going to blame the weather as if we haven't had bad weather in the past. All they are doing is diverting from their own failures and lack of understanding as to how the private sector works
    The administration isn't the one "blaming the weather." It's independent economic analysts.

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

    Quote Originally Posted by Jack Hays View Post
    Really? How so, if RWR took office on 20 Jan 1981?

    Jan 1, 1984 4.19%
    Jan 1, 1983 3.71%
    Jan 1, 1982 8.39%
    Jan 1, 1981 11.83%
    Jan 1, 1980 13.91%
    Jan 1, 1979 9.28%

    US Inflation Rate by Year
    You do realize that liberals never admit when they are wrong, they just ignore the response

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

    Visbek;1063450648]I never said anything of the sort, and the figures I use do include war spending. I made a tangential comment about how Bush kept the war off-budget to point out the shenanigans they pulled, and you're blowing it out of proportion.
    Kid, you have a problem, whether or not it is on budget or off budget doesn't matter, it is part of the deficit and the debt for the year incurred. You really need to stop reading leftwing rags and get the facts. The Treasury shows the deficit and debt by year, you really ought to familiarize yourself with the official books of the United States

    Well, the total cost of the wars is estimated at $4 trillion to $6 trillion. As far as I know, Obama's cut is around $370 billion, it could be more.
    Show me the official Treasury numbers that support your claim. This is nothing more than liberal BS

    Speaking of debt: When Bush 43 came into office, the debt went from $5.7 trillion to $10.7 trillion. As a percentage of GDP, it went from 56% to 85%. And as already noted, Obama was in no small part saddled with Bush policies -- most critically, the Bush tax cuts. And yet, for some reason you don't seem terribly outraged about it. Hmmm
    Cite your source, debt of 10.6 trillion dollars on January 21, 2001 on a 14.5 trillion dollar economy is 73% and that isn't the 100+ % it is now. This is getting embarrassing for you. You really seem to have a problem with getting official numbers. I suggest the Treasury Dept rather than leftwing rags. You would be better served. Tax cuts grew govt. revenue because they created the economic atmosphere that grew over 9 million jobs from 2001-2007, What is it about liberalism that creates this kind of loyalty? Pay attention to my sources and you will learn something

    These will help you

    Current Report: Combined Statement of Receipts, Outlays, and Balances of the United States Government (Combined Statement): Publications & Guidance: Bureau of the Fiscal Service

    Debt to the Penny (Daily History Search Application)


    Of course I understand the difference between debts and deficits. Don't be silly.
    Apparently not since you don't understand that the debt includes off budget items

    Guess again. Part of the Bush tax cuts included cutting estate taxes. And once more with feeling....
    So what? what did the govt. do to deserve the benefits of someone else's investment success? You seem to not understand risk taking either.

    Please stop posting any charts that show tax cuts having any relationship with deficits since tax cuts increased govt. revenue because they increased jobs. Show me that we would have had the same job creation without those tax cuts?

    The incentive is basic economics. One of the reasons why Medicare keeps costs down is because the federal government negotiates with hospitals and doctors. Those groups don't always like it, because they get low rates and have little negotiating room, but it works -- not just in the US, but also abroad.
    Oh, good Lord, you believe the govt. keeps costs down? This is the same entity that generated a 17.5 trillion dollar debt. You really don't realize how foolish you sound and have no understanding of the data you post.



    I'm sorry, but your equivocation on this point doesn't make sense. It doesn't matter when any agreements were signed. We're talking about government expenditures, and the simple fact is that the US was still conducting military operations in Iraq and Afghanistan, and still had (and has) to pay for them.
    Most done within the Defense department budget which again you don't understand. I can only assume that you are in school and have no outside experience at all so you buy what you are told and do no research to verify the rhetoric. You really ought to worry about your credibility



    Sure. Remove the effects of the Bush tax cuts, and we don't have trillion dollar deficits.
    LOL Obama had a Democrat Congress that could have eliminated those tax cuts if he really believed they caused the deficits or even cared about them. The reality is it is a waste of time dealing with people like you who don't understand that tax cuts generated the atmosphere for economic activity and growth thus creating more revenue.

    Why do YOU include it? The $3.9 trillion spending figure for 2015 that you keep citing includes $902 billion for Social Security, and $532 billion for Medicare.
    Still waiting for any justification for having Medicare and SS on budget? Do you know what on budget means? How about a unified budget? Do you think your SS and Medicare taxes paid should go into the general fund to be spent?

  6. #226
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Visbek View Post
    Of course I do. And like I said, the US does NOT have any issues raising funds to pay what it owes.



    No, they really don't. If they did, we'd be seeing inflation in the double digits or more.



    FY2015 is projected at $251 billion. Considering that it gets us access to the funds we need to run the government, and that interest rates are ridiculously low, it's not a bad deal.



    The administration isn't the one "blaming the weather." It's independent economic analysts.
    You will never see inflation with this many people unemployed, under employed, and discouraged.

    For someone who claims to be less partisan than I believe you sure have a funny way of showing it

    Please name for me one predication made by this Administration that has been accurate

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

    Quote Originally Posted by Conservative View Post
    You do realize that liberals never admit when they are wrong, they just ignore the response
    And conservatives do admit when they are wrong. Hilarious, indeed.
    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 Conservative View Post
    I lived in the Midwest throughout the 80's and we had terrible winters then but still had strong economic growth and job creation. Stop making excuses for incompetence. I live in TX now and the winter here was the worst on record and yet we still grew. I am basing my conclusions of BLS, BEA, and Treasury Data. You ought to familiarize yourself with the actual data and look particularly at the U-6 rate, the unemployment levels for the young and African Americans. What is it going to take for you to realize that liberalism is an absolute failure in a private sector economy. Maybe that is the problem you want us to be more like Europe so you don't have to work hard to be taken care of?
    Oh yeah, a Texas winter, must have been tough. Did you have to stop wearing shorts for a few weeks? We had 53 days below zero here. Here's a list of the worst winters:
    Rank Year Total
    ---------------------
    1 1875 68
    2 1887 58
    3 1888 57
    4 1873 56
    5 1978 53
    2014 53
    7 1917 51
    8 1936 50
    9 1884 49
    1965 49

    Oh, that's weird, not a single year from the 80s?! But... no, maybe... could you be wrong? Is that possible? No way, must be incorrect data. But you're right, conservatives like George W. Bush really did great things for the economy. I think that's proof that Republicans are right and Democrats are wrong. It couldn't be that they're all morons. That makes too much sense.
    A working class hero is something to be

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

    Quote Originally Posted by Strucky View Post
    The winter of 2010 was much worse,not as cold.....But the blizzard that took out the Metrodome roof was much worse than anything we got this last winter lol
    The storm we got this year, 6 days after I bought a new car, seemed way worse than the 2010 one. Guess what happened to the car?

    I think the Metrodome roof storm was the one that got my old car stuck in a parking lot for about 36 hours. I'd rather get a car stuck than hit by the neighbor, so by that measurement, this year was worse.
    A working class hero is something to be

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

    Quote Originally Posted by imagep View Post
    If that's the case, then the federal reserve is doing a pretty good job.



    How many years of hyper-inflation predictions have to be made, without coming true, will you inflation guys admit that printing money doesn't create inflation? Just how many times do you have to be wrong before you will admit to being wrong.

    By the way, inflation was much worse under the first couple of years of Reagan - you try to pretend that it ocurred under Carter to protect who you worship.
    Of course there is inflation, lots of it. But the government keeps changing the way inflation is measured to make the CPI look lower...and they freely admit it.

    Using the CPI formula the government used in 1990, inflation is roughly 6%, using the 1980 model, almost 10%.

    Alternate Inflation Charts

    The CPI is now a joke as an inflation indicator...it is now more of a cost of living indicator.

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