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

  1. #61
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Montecresto View Post
    Poll: Nearly five years into Obama’s presidency, most Americans still blame Bush for economic problems.


    From WaPo Poll.

    Poll: Nearly five years into Obama’s presidency, most Americans still blame Bush for economic problems Hot Air
    Of course they do because most Americans base their impressions on what politicians, the mainstream media and the clueless on the internet and message boards tell them. Very few read or know the facts about much of anything re the economy and the leftist politicians and their surrogate media aren't about to educate them. Not when they can continue to promote a leftist Marxist philosophy and increase their own power, influence, and personal wealth by feeding lies to the people.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

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

    Quote Originally Posted by AlbqOwl View Post
    Mild recessions have always been a fact of a free market economy--something like a spike in oil prices due to a major storm or even a minor skirmish in the Middle East can create a brief economic downturn, and we were having a very minor economic downturn at the end of 2007. However the economy was growing strongly the first half of 2008.
    Not so much.

    GDP growth rates started tanking in 2007. GDP was around -3% in Q1 2008, +2% in Q2, then -8% in Q3.


    It largely recovered with the announcement of TARP and, had the Obama administration had a fraction of the Bush administration savvy on how to manage an economy, we would have slowly and surely climbed out of the recession and would have been back to normal by the end of Obama's first term.
    Bush's what now?

    Bush 43 cut taxes while waging two very expensive wars -- an unprecedented step, that took the government from a surplus to huge deficits. He devised policies that saddled anyone who followed him with more deficits, namely the two aforementioned wars, the aforementioned tax cuts, and a whole new Medicare benefit. He, like so many others, did nothing to manage the real estate and financial bubbles. He did listen to Paulson and Bernanke to take decisive steps to rescue the economy, so he gets credit for that, but overall I don't see any real "economic savvy" coming out of his administration.


    But Obama's cluelessness, the business unfriendly environment he created, the attempt to spend us back into prosperity, and the unconscionable uncertainties he forced into the economy via Obamacare, tax and threaten the rich, regulate normal energy processes out of business, etc. etc. etc. has prolonged and continued to deepen what should have been a deep but normal recession.
    Ahh, so much fail

    Obama's administration has been doing fine. They rescued the US auto industry, about 1/3 of the stimulus was yet more tax cuts, they earned back almost everything from TARP, they actually cut deficits (a feat no Republican post-WWII president has achieved), employment is slowly gaining ground, manufacturing is picking up. Ironically, private sector employment has been improving, and most of the job losses are in the public sector, typically on the state level.

    And no, I really do not believe that threatening the top 1% of earners with a mild tax increase is going to cut GDP by a huge amount.

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

    Wow, that is such a weak, sorry, response. So, your basic point is that this is all happening anyway and Obama is responsible for nothing. Great, way to prop up your boy. He's not responsible. Yeah, we get that. He takes no responsibility, after 5 years. Do you think he will be up to it at the end of 8 years? I wouldn't put any money on it.
    "We have met the enemy and they are ours..." -- Oliver Hazard Perry
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    Really? So when the Democrats Controlled the Congress from January 2007-January 2011 everything was rosy? Where do you get this information? Do you know the difference between the current 17.5 TRILLION in debt and 17 BILLION?

    You really think Congressional approval ratings are relevant? Do you vote for my Representative? No doubt about it, you are a progressive and this economy must make you giddy.

    You prove just how hard liberalism is to kill and it has to be destroyed but the problem is when this country is destroyed by people like you it will be too late.
    Liberalism will never die, hopefully Conservatism will as long as we keep the Repukes out of the white house..

    Wanna talk about the debt when drunk ass Bush took office there was a surplus, when he left there was a huge debt, it just dosen't go away in a few years, LOL...

    Oh i see to you Congressional approval don't matter?? gee then Obama's don't matter either, since he dosen't have to worry about running again!!!..

    You don't like the present economy?? well guess what Liberals didn't like it in 2009 when the drunk left office Unemployment was higher than it is now, were you complaining about the economy when the drunk crashed the country in 2008?..

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

    Quote Originally Posted by DA60 View Post
    So much for a massive GDP turnaround in Q2:

    U.S. Durable Goods Orders Drop 1.0% in May

    U.S. Durable Goods Orders Drop 1.0% in May - WSJ
    Ohhh..and the trade deficit in April (last reported month) was the worst since March 2012.

    Plus, imports for the month hit an all time record while exports dropped from March to April.

    Foreign Trade - U.S. Trade with World, Seasonally Adjusted

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

    Quote Originally Posted by Visbek View Post
    Not so much.

    GDP growth rates started tanking in 2007. GDP was around -3% in Q1 2008, +2% in Q2, then -8% in Q3.



    Bush's what now?

    Bush 43 cut taxes while waging two very expensive wars -- an unprecedented step, that took the government from a surplus to huge deficits. He devised policies that saddled anyone who followed him with more deficits, namely the two aforementioned wars, the aforementioned tax cuts, and a whole new Medicare benefit. He, like so many others, did nothing to manage the real estate and financial bubbles. He did listen to Paulson and Bernanke to take decisive steps to rescue the economy, so he gets credit for that, but overall I don't see any real "economic savvy" coming out of his administration.



    Ahh, so much fail

    Obama's administration has been doing fine. They rescued the US auto industry, about 1/3 of the stimulus was yet more tax cuts, they earned back almost everything from TARP, they actually cut deficits (a feat no Republican post-WWII president has achieved), employment is slowly gaining ground, manufacturing is picking up. Ironically, private sector employment has been improving, and most of the job losses are in the public sector, typically on the state level.

    And no, I really do not believe that threatening the top 1% of earners with a mild tax increase is going to cut GDP by a huge amount.
    Your post is noted. It reflects all the assigned leftist talking points and ignores all the arguments that would change that perception but oh well. I have banana bread to make so will just let it lie for now. Do have a nice day.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

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

    V
    isbek;1063448457]Not so much.

    GDP growth rates started tanking in 2007. GDP was around -3% in Q1 2008, +2% in Q2, then -8% in Q3.



    Bush's what now?

    Bush 43 cut taxes while waging two very expensive wars -- an unprecedented step, that took the government from a surplus to huge deficits. He devised policies that saddled anyone who followed him with more deficits, namely the two aforementioned wars, the aforementioned tax cuts, and a whole new Medicare benefit. He, like so many others, did nothing to manage the real estate and financial bubbles. He did listen to Paulson and Bernanke to take decisive steps to rescue the economy, so he gets credit for that, but overall I don't see any real "economic savvy" coming out of his administration.
    That is an absolute bold face lie and more proof that the liberal media has convinced you to ignore reality. There was no surplus, there was a projected surplus and just like you don't know the four components of GDP you have no understanding of what makes up the deficit and what a unified budget is. And just like that good little soldier that you are you believe that people keeping more of what they earn is an expense to the govt. Why is that? If liberals are so smart and believe that tax cuts reduce govt. revenue then why don't they stop spending? Isn't that what you do when your revenue is reduced? Not Obama, he proposed a 3.9 trillion dollar budget. Of course that will never happen because liberals keep their power by making more people dependent on their supposed help.


    Ahh, so much fail

    Obama's administration has been doing fine. They rescued the US auto industry, about 1/3 of the stimulus was yet more tax cuts, they earned back almost everything from TARP, they actually cut deficits (a feat no Republican post-WWII president has achieved), employment is slowly gaining ground, manufacturing is picking up. Ironically, private sector employment has been improving, and most of the job losses are in the public sector, typically on the state level.

    And no, I really do not believe that threatening the top 1% of earners with a mild tax increase is going to cut GDP by a huge amount.
    Yes, Obama is doing great, that is why he has such a high Job Approval rating. Why do you continue to buy the liberal rhetoric and ignore the liberal results? Do you really believe that taxing the top 1% is the solution to the problems we face today? Please tell me you aren't that naive and gullible? How much revenue are you going to generate by taking the top 1%?

    Please explain to me who Obama inherited a 10.6 trillion dollar debt that is 17.5 trillion today and cut deficits? If you take a moment in time when the deficits were at record levels and cut them in half still having record deficits is that a record you are proud of? That my friend is totally ridiculous.

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

    Quote Originally Posted by ARTHUR 1976 View Post
    Liberalism will never die, hopefully Conservatism will as long as we keep the Repukes out of the white house..

    Wanna talk about the debt when drunk ass Bush took office there was a surplus, when he left there was a huge debt, it just dosen't go away in a few years, LOL...

    Oh i see to you Congressional approval don't matter?? gee then Obama's don't matter either, since he dosen't have to worry about running again!!!..

    You don't like the present economy?? well guess what Liberals didn't like it in 2009 when the drunk left office Unemployment was higher than it is now, were you complaining about the economy when the drunk crashed the country in 2008?..
    Have you taken your surplus message to the Treasury Dept. because they don't show that surplus and since they are the bank account for the country and we pay debt service on the numbers they should shouldn't you take it upon your self to correct them? You obviously have no idea what makes up the deficit and have no understanding of the unified budget. There was no surplus as evidenced by the growing debt at record levels. If there was a surplus the debt would have been reduced and it wasn't. Clinton inherited a 4.4 trillion dollar debt that grew to 5.7 trillion so where exactly does the surplus show up in those numbers? You do realize that deficits are yearly and the accumulation of deficits are what is added to the debt? Probably not.

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

    Quote Originally Posted by Conservative View Post
    The claims of tax cuts is bogus because they were conditional unless the 500 dollar rebate is considered a tax cut....
    Please learn the facts. The tax incentives included:

    - Individual payroll tax cut of $400 per worker / $800 per couple for anyone under $75k / $150k couple
    - Temporary increase in the threshold for AMT
    - Expansion of child tax credit
    - Expanded college tuition credit
    - 1st time home buyer rebates
    - Exclude initial $4200 of unemployment insurance from taxation
    - Home energy credits
    - Deductions for sales taxes on cars
    - Increase business allowances for current losses to offset past profits
    - Tax credit for government contractors
    - Depreciation bonuses


    The stimulus money was dumped into the economy to create shovel ready jobs and the shovels never arrived in most cases. You don't seem to understand the components of GDP or you would understand that the money definitely would create a short term increase in GDP which is what it did.
    So again: 4 years of growth, for 2 years of stimulus, is "short term?"


    That is your opinion but mine is quite different. Obama has made a mess of the healthcare industry
    How? By allowing kids up to age 26 to stay on their parents' insurance? By stopping insurers from redlining people with pre-existing conditions? By adopting the Romney/Heritage "personal responsibility principle," and pushing people to get insurance before they need it? By pushing hospitals to reveal their actual costs? By establishing exchanges -- something even McConnell, arch enemy of the ACA, wants to keep -- that put insurers into direct competition? By not setting up a single-payer system?


    Public sector employment has been reduced at the state and local levels because states cannot print money, Federal employment has risen.
    Yes, it usually goes up in a recession -- temporarily. And a lot of the big spike was census hiring.






    It is the liberal goal to create a massive central govt and Obama is doing that as shown my his policies and proposal for a 3.9 trillion dollar budget
    Uh, yeah.. no. Progressives do think that government is capable of doing some tasks that the private sector cannot, and offer a mechanism for oversight of the abusive players in the private sector. No one wants to "grow government for the sake of growing government." (Similarly, few Republicans want to "shrink government for the sake of shrinking government.")


    Ever run a business? Any idea what it costs to employ an individual? I have and you are absolutely wrong.
    Yes and yes. Uncertainty happens. Corporate America's response, by the way, has been to pare back work forces as much as possible, hoard cash, and make record profits during the Obama years. Yeah, they're obviously running scared.....


    It isn't one quarter....
    It IS one quarter. Don't worry, we'll see in just a few months.


    Obama is incompetent and lacked the experience in the private sector to understand how it works. You don't seem to understand either. Learn the components of GDP and get back to me
    Personal consumption, business spending (including commercial real estate and inventories), government spending (less than 20% of GDP), exports/imports (exports increase, imports decrease).

    So, you tell me. How did spending $600 billion in 2009 and 2010 lead to a $1.7 trillion increase in GDP between 2010 and 2013?

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

    Quote Originally Posted by AlbqOwl View Post
    Of course they do because most Americans base their impressions on what politicians, the mainstream media and the clueless on the internet and message boards tell them. Very few read or know the facts about much of anything re the economy and the leftist politicians and their surrogate media aren't about to educate them. Not when they can continue to promote a leftist Marxist philosophy and increase their own power, influence, and personal wealth by feeding lies to the people.
    5 policies from Clinton & Bush that caused the recession | The Daily Caller
    Killing one person is murder, killing 100,000 is foreign policy

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