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

  1. #481
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    Well with your credibility I don't worry too much about your opinions as to who is right or wrong.

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

    Quote Originally Posted by Jango View Post
    Lol because those who routinely call for a limited government pick & choose what to limit, sorta like how religious people pick & choose what tenants they'll live by & respect. When those two intersect, poor & disadvantaged people, ironically, get cast aside. But at the same time, they call for restricting a woman's right to make her own reproductive decisions. Or take natural disasters, you know, earthquakes/wild fires/mud slides/floods/tornadoes/hurricanes that completely destroy towns. I'm sure there are limited government spouting people that live in the affected area. Yet, "please help me government," comes out of their mouth. Essentially, the limited government crowd is against the other takers and not when they need something like help.

    It's a bull**** dog & pony show, man.
    Libertarians DONT pick and choose, thats my point. We always choose maximum liberty. And as this relates to the topic, there is simply no reason we cant cut a little spending from things we dont absoluetly need, so that we dont have to keep taxing and borrowing trillions, which is hurting the economy and will only get worse.

    Harmful Effects of Large and Growing Debt
    How long the nation could sustain such growth in federal debt is impossible to predict with any confidence. At some point, investors would begin to doubt the government’s willingness or ability to pay U.S. debt obligations, making it more difficult or more expensive for the government to borrow money. Moreover, even before that point was reached, the high and rising amount of debt that CBO projects under the extended baseline would have significant negative consequences for both the economy and the federal budget:

    Increased borrowing by the federal government would eventually reduce private investment in productive capital, because the portion of total savings used to buy government securities would not be available to finance private investment. The result would be a smaller stock of capital and lower output and income in the long run than would otherwise be the case. Despite those reductions, however, the continued growth of productivity would make real (inflation-adjusted) output and income per person higher in the future than they are now.
    Federal spending on interest payments would rise, thus requiring larger changes in tax and spending policies to achieve any chosen targets for budget deficits and debt.
    The government would have less flexibility to use tax and spending policies to respond to unexpected challenges, such as economic downturns or wars.
    The risk of a fiscal crisis—in which investors demanded very high interest rates to finance the government’s borrowing needs—would increase.
    http://www.cbo.gov/publication/44521
    Last edited by jonny5; 06-29-14 at 09:15 AM.

  3. #483
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    It is time that the US government stop trying to correct market fluctuations and the American people learn to live with what the market provides. Altering interest rates an falsely increasing the money in the market is not a long term fix to economic problems, it is the problem. The Obama administration, joined by the Bush administration have time after time been blind to this.
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by iacardsfan View Post
    Altering interest rates... The Obama administration, joined by the Bush administration have time after time been blind to this.
    The Federal Reserve conducts monetary policy, which influences interest rates through open market operations, the Discount rate at which banks can borrow from the Fed, and unorthodox approaches e.g. Quantitative Easing (purchase of long-term Treasury and Mortgage-backed securities in the U.S.). The Presidents carry out fiscal policy, which generally is comprised of taxes and expenditures.

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

    Quote Originally Posted by donsutherland1 View Post
    The Federal Reserve conducts monetary policy, which influences interest rates through open market operations, the Discount rate at which banks can borrow from the Fed, and unorthodox approaches e.g. Quantitative Easing (purchase of long-term Treasury and Mortgage-backed securities in the U.S.). The Presidents carry out fiscal policy, which generally is comprised of taxes and expenditures.
    I understand the difference between monetary and fiscal policy. It would be foolish to assume the President does not influence monetary policy. In addition, I was specifically talking about the Bush and Obama administrations in regards to increasing the money supply via stimulus packages.
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by donsutherland1 View Post
    The Federal Reserve conducts monetary policy, which influences interest rates through open market operations, the Discount rate at which banks can borrow from the Fed, and unorthodox approaches e.g. Quantitative Easing (purchase of long-term Treasury and Mortgage-backed securities in the U.S.). The Presidents carry out fiscal policy, which generally is comprised of taxes and expenditures.
    But the POTUS appoints the Chair and vice chair of the Fed. And he re-confirmed Bernanke.

    Plus, to assume that when he appointed Bernanke and Yellen he did not make sure that they were going to 'play ball' when he asked them to (like to try to stimulate the economy just before an election) would be extremely naive, IMO.

    He has, IMO, a huge influence on what the Fed does and thus has a huge influence on monetary policy.

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

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    U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]Let's cut the snarky remarks shall we? I really don't feel like infracting and thread banning people at the moment. But just because I don't feel like it doesn't mean I won't. So behave yourselves.
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by jonny5 View Post
    Libertarians DONT pick and choose, thats my point. We always choose maximum liberty. And as this relates to the topic, there is simply no reason we cant cut a little spending from things we dont absoluetly need, so that we dont have to keep taxing and borrowing trillions, which is hurting the economy and will only get worse.



    The 2013 Long-Term Budget Outlook - CBO
    And what is included in that "we don't absolutely need" category?

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

    Quote Originally Posted by iacardsfan View Post
    It is time that the US government stop trying to correct market fluctuations and the American people learn to live with what the market provides. Altering interest rates an falsely increasing the money in the market is not a long term fix to economic problems, it is the problem. The Obama administration, joined by the Bush administration have time after time been blind to this.
    I doubt they are blind to it. But doing the right thing is superceded by politicians' greed for money to spend to enhance their re-elections. We are the bad guys for letting them do it.

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

    Quote Originally Posted by Jango View Post
    And what is included in that "we don't absolutely need" category?
    Space Exploration
    Post Office (yes it does get subsidies)
    Amtrak
    Education Dept
    Corporate Welfare in many different forms
    Income Support payments to anyone above poverty levels
    Corporation for Public Broadcasting

    Want more?

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