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

  1. #331
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by iliveonramen View Post
    Wow...I tried "Bush Halo" and got pretty much the same types of pictures.
    https://www.google.com/search?q=Bush...w=1152&bih=763
    Congratulations. You want to talk about Bush then?
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d 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.


  2. #332
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by iliveonramen View Post
    If Obama has been so bad for business why have corporations been experiencing record profits? It's obviously not a supply side problem with over taxed firms barely getting by. In fact its the complete opposite. Do you think giving corporations more tax breaks and giving them an "attaboy" will make them start hiring?
    You always look at corporate profits and ignore small business profits and small businesses going out of business. Those numbers aren't included in BLS data. Large business will always benefit from low interest rates and govt. regulations by not hiring and by hoarding cash. It is their cash, they earned it but you want it to go to fund the 3.9 trillion dollar Obama proposals

    What will motivate business is certainty and there is none with this Administration. Why do you have such a problem with corporate profits most of which go to shareholders or back into the business?

  3. #333
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    Aw, no question about it, strong economic growth has been stifled by poor weather for the last 6 1/2 years. It is incredible how it is never economic policies by Obama that had no affect on the economic results but rather the weather. We all know that the Keystone pipeline, attacks on the coal industry, Obamacare, class warfare, higher taxes, 20 million unemployed, under employed, discouraged workers are all Bush's fault or the weather.
    Several quick things:

    1. Weather was one factor. It was not the only factor. Weather was cited in a variety of economic reports during the timeframe in question.

    2. Some macroeconomic factors were also involved i.e., continuing economic challenges in parts of the Eurozone, a growth slowdown in China, etc.

    3. Keystone would make a very tiny contribution to GDP were it approved, but because it does not exist that contribution has not been made. Hence, one can't argue that Keystone's lack of approval led to the decline in GDP that took place. The strongest argument for Keystone is not on economic grounds (very small impact) but on grounds of strengthening the bilateral U.S.-Canada relationship.

    4. The coal industry accounts for less than 0.5% of GDP. It has a somewhat larger impact than that percentage through the energy price channel. Energy prices overall during Q1 were nearly flat. The big exception was natural gas, which rose about 15%.

    5. Since the tax changes went into effect, there has been a modest drag on economic growth. At the same time, revenues have increased faster than the economy has grown and government spending has increased, reducing the nation's annual budget deficits. Reduced state and local government expenditures also provided a drag.

    6. The long-term unemployed and discouraged workers reflect the larger post-recession transition that remains underway where certain industries play a lesser role in terms of the overall economy than they did before. Structural unemployment is a complex matter and one can't easily attribute it to President Bush or President Obama, as even with faster growth, the skills-jobs mismatch would not necessarily be remedied. The mania that preceded the Great Recession and fueled the housing bubble was the result of numerous factors, some of which predated the Bush Administration and some of which had international origins (e.g., capital flowing from Asia to the U.S. following the Asian Financial Crisis). The narratives that aim to hold Presidents wholly responsible for economic developments--booms and busts--are overly simplistic.

    7. Economic data for Q2 generally point to a growth rebound (perhaps with real GDP growth in the 3%-4% range on an annualized basis).

    8. Some risks lie ahead. Should the modest increase in oil prices give way to a sharper rise which has staying power, should Europe's economy fare worse than anticipated, should the Fed's gradual tapering lead to a larger than anticipated rise in interest rates (not very likely at this time) on account of falling bond prices, should fiscal policy tighten much more quickly than anticipated, etc., all those factors could dampen growth over the remainder of the year.

  4. #334
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by jonny5 View Post
    Seeing as how a democrat congress, Senate, and President made those tax cuts permanent, when does the chart get changed to "obama era tax cuts"?
    The tax-cuts on the top earners expired. Where have you been?
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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

    Quote Originally Posted by iliveonramen View Post
    If Obama has been so bad for business why have corporations been experiencing record profits? It's obviously not a supply side problem with over taxed firms barely getting by. In fact its the complete opposite. Do you think giving corporations more tax breaks and giving them an "attaboy" will make them start hiring?
    Corporations hire when they need workers. You think they hire just for the sake of hiring, or because they get an "attaboy"?

  6. #336
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by MTAtech View Post
    The tax-cuts on the top earners expired. Where have you been?
    Only 18% of the Bush tax cuts expired. Obama made 82% of them permanent when he signed The American Taxpayer Relief Act of 2012 (ATRA) into law on January 2, 2013.

  7. #337
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Ockham View Post
    Congratulations. You want to talk about Bush then?
    So apparently all Presidents are seen as a Messiah because you can type in "halo XXX" and you'll get similar pictures. Pretty tight argument to me...
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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

    Quote Originally Posted by tres borrachos View Post
    Corporations hire when they need workers. You think they hire just for the sake of hiring, or because they get an "attaboy"?
    Maybe read what I'm responding to? Those are question marks following the sentences. They aren't statements they are questions.

    I agree with you, we need demand side solutions, which are pretty much nearly everything Republicans tend to disagree with.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

  9. #339
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by tres borrachos View Post
    Great minds.....
    Notice how taking another $28 billion is called "saving" money by the left. Increasing taxes on the people is saving money to them, because they consider it to be theirs to take. That is the screwy mind set we are dealing with.
    "We have met the enemy and they are ours..." -- Oliver Hazard Perry
    "I don't want a piece of you... I want the whole thing!" -- Bob Barker

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

    Quote Originally Posted by Anthony60 View Post
    Notice how taking another $28 billion is called "saving" money by the left. Increasing taxes on the people is saving money to them, because they consider it to be theirs to take. That is the screwy mind set we are dealing with.
    I detest the use of "saving money" as much as I detest the use (and this on BOTH sides) of the word "revenue" when speaking of taxes. Revenue is what businesses call the income they receive from customers who buy their products and services (willingly).

    $28 billion. Holycrap, I can't believe someone knowingly brought in the Bush tax cuts and the $28 billion to imply that they make a difference. That's like saying that you need to cut expenses because you're broke, so you decide to stop spending $3 a month on bubblegum, and now you're fiscally prudent.

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