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

  1. #581
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    Sorry, wasn't clear when I talked about small businesses as that was never intended to be Walgreens, but it is the small businesses that are the engine that drives the U.S. economy and those are the businesses hurting under Obama.
    So basically, you are no longer responding to my points, or the general discussion at hand. Good to know.

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

    Quote Originally Posted by Visbek View Post
    Yes. Absolutely and without question.

    Do you even understand what Walgreens is considering? They were acquired by a Swiss company. They aren't going to close any stores, they aren't going to fire any US staff. All they are going to do is change their legal status from a US corporation to a Swiss corporation, which will let them exploit a huge tax loophole (possibly $4 billion over 5 years). This is happening just 2 years after they took a big tax credit from the state of Illinois.

    Their obligations under the ACA won't change. They aren't affected by Keystone. They weren't acquired by a Swiss company because the CEO got a 4% tax hike this year. None of the stuff you posted is relevant to this possible change of its tax home.



    Walgreens isn't a "small business." They're the largest pharmacy chain in the US. They had nearly $1 billion in sales last year with over 8000 stores. They've been acquiring other chains and expanding.



    And you apparently continue to do anything you can to dump on the economic indicators that *might* show that Q2 will be in positive territory, and that Q1 was an anomaly.

    What are you going to say if Q2 shows a healthy increase in GPD?
    Let me give you an example of what good leadership and economic policies will do. Arguably the 81-82 recession with a 20 misery index was worse than than the 07-09 recession and yet Reagan was able to turn it around with a positive economic policy that put more money into the hands of the American people and that is what led to the economic activity increase generating almost 17 million jobs. Compare that to what we have today

    Labor Force Statistics from the Current Population Survey
    Original Data Value

    Series Id: LNS12000000
    Seasonally Adjusted
    Series title: (Seas) Employment Level
    Labor force status: Employed
    Type of data: Number in thousands
    Age: 16 years and over
    Years: 1980 to 2014

    Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
    1980 99879 99995 99713 99233 98945 98682 98796 98824 99077 99317 99545 99634
    1981 99955 100191 100571 101056 101048 100298 100693 100689 100064 100378 100207 99645
    1982 99692 99762 99672 99576 100116 99543 99493 99633 99504 99215 99112 99032
    1983 99161 99089 99179 99560 99642 100633 101208 101608 102016 102039 102729 102996
    1984 103201 103824 103967 104336 105193 105591 105435 105163 105490 105638 105972 106223
    1985 106302 106555 106989 106936 106932 106505 106807 107095 107657 107847 108007 108216
    1986 108887 108480 108837 108952 109089 109576 109810 110015 110085 110273 110475 110728
    1987 110953 111257 111408 111794 112434 112246 112634 113057 112909 113282 113505 113793
    1988 114016 114227 114037 114650 114292 114927 115060 115282 115356 115638 116100 116104
    Highlighted are the employment numbers when the recession began, when it ended, and the end of the first term of Reagan along with the employment at the end of his Presidency. Very easy to understand what happened 5 5 years after the end of the 81-82 recession compared to what Reagan inherited, 100.7 million working Americans July 1981, 114 million working Americans 5 years later.

    Compare that to the 146.3 million working Americans in December 2007 when the recession began to the 145.8 million working Americans today.

    Leadership works, understanding of the private sector economy is better and we have neither today.

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

    Quote Originally Posted by Visbek View Post
    So basically, you are no longer responding to my points, or the general discussion at hand. Good to know.
    I have responded to your points which is something you never do. You don't seem to understand the private sector either and the engine that drives it, it isn't Walgreens or the big corporations, it is the small businesses that aren't even reflected in the BLS numbers. You are going to see this fall just how happy Americans are with Obamanomics.

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

    Quote Originally Posted by idea_steed View Post
    Can repealing Obamacare instantly solve the problem?I guess there are other factors contributing to this ongoing recession.
    The recession ended just a few months after Obama took office in 2009. We have been in a weak and prolonged recovery ever since. It took about ten years to recover from the great depression, so a weak and prolonged recovery should be expected.

    And repealing Obamacare would do little, if anything, to improve things.

    What I find interesting is that right after Obama took office, there were lots of conservatives claiming that the government should do nothing to stimulate the economy and that we should just let the recession burn itself out. Those people pretty much got what they wanted.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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

    Quote Originally Posted by imagep View Post
    The recession ended just a few months after Obama took office in 2009. We have been in a weak and prolonged recovery ever since. It took about ten years to recover from the great depression, so a weak and prolonged recovery should be expected.

    And repealing Obamacare would do little, if anything, to improve things.

    What I find interesting is that right after Obama took office, there were lots of conservatives claiming that the government should do nothing to stimulate the economy and that we should just let the recession burn itself out. Those people pretty much got what they wanted.
    I don't recall the 842 billion dollar Obama stimulus doing nothing but I do recall Conservatives predicting the results that we have today coming from that stimulus. A stimulus was indeed needed just not the Obama stimulus that bailed out unions and gave people a $500 tax rebate check. The claims of Obama tax cuts are bull**** because they came with strings on them, "you do this and we will give you that" which is always the liberal way. Micromanaging the private sector economy is something the bureaucrats in D.C. do the same why they created a 17.5 trillion dollar debt, badly.

    For someone who didn't vote for Obama, I can only assume that you voted for someone further left or didn't vote at all. I don't see a lot of credibility in your posts for a so called business owner but I do see a lot of excuses made for Obama and his policies.

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

    Quote Originally Posted by Conservative View Post
    I don't recall the 842 billion dollar Obama stimulus doing nothing but I do recall Conservatives predicting the results that we have today coming from that stimulus. A stimulus was indeed needed just not the Obama stimulus that bailed out unions and gave people a $500 tax rebate check. The claims of Obama tax cuts are bull**** because they came with strings on them, "you do this and we will give you that" which is always the liberal way. Micromanaging the private sector economy is something the bureaucrats in D.C. do the same why they created a 17.5 trillion dollar debt, badly.

    For someone who didn't vote for Obama, I can only assume that you voted for someone further left or didn't vote at all. I don't see a lot of credibility in your posts for a so called business owner but I do see a lot of excuses made for Obama and his policies.
    I do agree that the spendulous bill was a huge screwup. It was political payoloa to his cronies and never was intended to do what we needed stimulous to do. It was horribly mismanaged, and a horrible bill to begin with.

    What makes you believe that I supported the spendulous bill? I am pretty sure that the rebate checks went out under Bush, not Obama, you might want to double check on that. I don't remember any Obama tax cuts, but I do believe that middle class tax cuts are needed now to get our economy going.

    I suspect that you are such a ideolog that you can't imagine anyone being anything other than that. There are some of us who could care less about ideologies or being members of political clubs, or siding up on teams. The only thing I really care about is finding out what the truth is, and how things can be done better in the future.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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

    Quote Originally Posted by idea_steed View Post
    Can repealing Obamacare instantly solve the problem?I guess there are other factors contributing to this ongoing recession.
    It would bee a hell of a start

  8. #588
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by imagep View Post
    I do agree that the spendulous bill was a huge screwup. It was political payoloa to his cronies and never was intended to do what we needed stimulous to do. It was horribly mismanaged, and a horrible bill to begin with.

    What makes you believe that I supported the spendulous bill? I am pretty sure that the rebate checks went out under Bush, not Obama, you might want to double check on that. I don't remember any Obama tax cuts, but I do believe that middle class tax cuts are needed now to get our economy going.

    I suspect that you are such a ideolog that you can't imagine anyone being anything other than that. There are some of us who could care less about ideologies or being members of political clubs, or siding up on teams. The only thing I really care about is finding out what the truth is, and how things can be done better in the future.
    Bush gave a downpayment on his tax cuts with a $500 dollar rebate check in July 2001 before the bigger tax cut actually went into effect. The Bush tax cuts were ongoing and cut actual rates putting more money into all taxpayers' paychecks. Obama's so called tax cut to individuals was a rebate check plus other tax credits if those people performed some kind of activity. There were no strings to either the Bush or Reagan tax cuts, all you had to do was be an income earner.

    As for being an ideologue, I grew up a staunch Democrat in a Depression era family but grew out of it when I realized that the Democrat Party of JFK changed and became the entitlement liberal party taking money from those who produce to give to those who don't. I can spend my money quite well and probably give more to charity than many here actually make. I have voted for Democrats and Republicans and was like far too many here believing in an ideology instead of actual economic results. I am a conservative and used to be a conservative Democrat until the party left me.

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

    Quote Originally Posted by Conservative View Post
    Bush gave a downpayment on his tax cuts with a $500 dollar rebate check in July 2001 before the bigger tax cut actually went into effect. The Bush tax cuts were ongoing and cut actual rates putting more money into all taxpayers' paychecks. Obama's so called tax cut to individuals was a rebate check plus other tax credits if those people performed some kind of activity. There were no strings to either the Bush or Reagan tax cuts, all you had to do was be an income earner.

    As for being an ideologue, I grew up a staunch Democrat in a Depression era family but grew out of it when I realized that the Democrat Party of JFK changed and became the entitlement liberal party taking money from those who produce to give to those who don't. I can spend my money quite well and probably give more to charity than many here actually make. I have voted for Democrats and Republicans and was like far too many here believing in an ideology instead of actual economic results. I am a conservative and used to be a conservative Democrat until the party left me.
    Did you forget about the George Bush free money stimulous in 2008, or are you just pretending that it didn't happen?


    Economic Stimulus Act of 2008 - Wikipedia, the free encyclopedia

    The IRS added together a $600 rebate for the parent and $600 for the two children to get $1,200, then subtracted the phaseout reduction of $750 ($50 for each $1,000 income above $75,000) to get $450...As 2008 began, economic indicators suggested an increased risk of recession. Federal Reserve Chairman Ben Bernanke testified before Congress that quick action was needed to stimulate the economy through targeted government spending and tax incentives.[10] Congress moved rapidly to pass such legislation. The legislation was designed to stimulate spending by businesses and consumers during 2008. The hope was that the targeted individual tax rebates would boost consumer spending and that targeted tax incentives would boost business spending.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  10. #590
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by imagep View Post
    Did you forget about the George Bush free money stimulous in 2008, or are you just pretending that it didn't happen?


    Economic Stimulus Act of 2008 - Wikipedia, the free encyclopedia
    Didn't forget it at all, never have and never will support rebate checks. Bush was leaving office and Bush did the right thing in leaving half of the TARP money for Obama not knowing that Obama would recycle the money and get his zealots to blame Bush for the deficit. The recession ended in June 2009, what do you think caused that?

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