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

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

    Why isn't it recognised that both parties have ****ed America up. When will americans start being Americans first and Asses and Elephants second?
    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
    U.S. Economy Shrinks By Most Since Great Recession in 1Q | Fox Business

    Congratulations, Liberals, you are getting what you want, A European Socialist economy dependent on a Federal Govt. run by liberals and with more people dependent on that govt. for existence. This is exactly what you get when you elect and re-elect a totally unqualified individual to the highest office in the land, High unemployment, high debt, low economic growth are the new normal in this country

    Well said! Obama plays blind man's bluff every day.

    http://dancingczars.wordpress.com/20...35_2849c6385d/

    "Negotiating with Obama is like playing chess with a pigeon. The pigeon knocks over all the pieces, ****s on the board and then struts around like it won the game." ~ Vladimir Putin
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Montecresto View Post
    Why isn't it recognised that both parties have ****ed America up. When will americans start being Americans first and Asses and Elephants second?
    Have you make that suggestion to Obama? How's that working out for you?
    Redneck, hillbilly, fundie, Bible thumper, cracker, split tails, geezer, loon, xenophobe, islamaphobe, and homophobe are not words of tolerance.

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

    Quote Originally Posted by Maenad View Post
    Have you make that suggestion to Obama? How's that working out for you?
    Obama's part of the problem, its not working out for me (or you) at all, what's your point?
    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
    Let me see if I have this right, we have a 15.8 trillion dollar economy with a 17.6 trillion dollar debt and that is good news to you. Do you people have a clue?
    Yep.

    Lots of individuals have more debts than their net worth -- most of it being a mortgage. That's not being fiscally irresponsible, as long as you can pay your mortgage on time.
    Similarly, the US government can certainly make its payments, especially when interest rates are still near historical lows.
    Unlike individual debts, governments are expected to have debts that roll over and continue into perpetuity.
    It turns out that high debts don't stifle economic growth. Reinhart and Rogoff made some fatal errors in their claims. (You, uh, do know what I'm talking about, yes? )
    Many of the debts are actually due to Bush 43's policies and the recession. He cut taxes during wartime (which is unprecedented), he created a whole new entitlement (Medicare Part D). Tax revenues usually fall during a recession, while the need to spend increases.


    Obama has a low job approval rating for a reason. You are unable to figure it out.
    Actually, his rating isn't that much lower than most of his tenure, it's better than Bush 43 at the same point in his tenure, and comparable to Bush 41. Some of it is policies, some is economics, some is personality. And his approval rating is insufficient to prove that he is "tanking the economy" -- as is one quarter of negative GDP growth.


    If the pie doesn't grow then the gap between the rich and poor is going to increase,. Why aren't you getting part of that pie?
    The gap between the rich and the poor has been growing mostly because of Bush 43 tax cuts, which got locked in, and for which Republicans were nearly willing to fight to the death to protect. How you imagine that is Obama's fault is beyond me....

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

    No argument from me that these were all bad policies that needed to be corrected. And they were all a factor in the collapse of the housing bubble that triggered the recession. And not one of them can be pointed to as the reason the recession has continued six long years later or justify the abysmal failures of the Obama administration and mismanagement of the economy that has prolonged it.

    Was the recession Obama's fault initially? No it was not other than his role on the Democratically controlled Senate as one who failed to address the growing crisis when the Bush administration sounded the alarm some 17 different times. Was the failure to do expedient things to alleviate and end the recession from 2009 on his fault? Absolutely. 100%
    "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

    Well from reading the Globe and Mail, no one is really concerned since 4% growth is expected next quarter.

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

    Quote Originally Posted by Montecresto View Post
    Obama's part of the problem, its not working out for me (or you) at all, what's your point?
    My point: Obama is the ONLY president who has for years consistently blamed 'the previous administration.' Stop your golden Sonny Boy. He's the guilty party.
    Redneck, hillbilly, fundie, Bible thumper, cracker, split tails, geezer, loon, xenophobe, islamaphobe, and homophobe are not words of tolerance.

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

    Quote Originally Posted by AlbqOwl View Post
    No argument from me that these were all bad policies that needed to be corrected. And they were all a factor in the collapse of the housing bubble that triggered the recession. And not one of them can be pointed to as the reason the recession has continued six long years later or justify the abysmal failures of the Obama administration and mismanagement of the economy that has prolonged it.

    Was the recession Obama's fault initially? No it was not other than his role on the Democratically controlled Senate as one who failed to address the growing crisis when the Bush administration sounded the alarm some 17 different times. Was the failure to do expedient things to alleviate and end the recession from 2009 on his fault? Absolutely. 100%
    Right, I've already expressed that our current state of affairs is Obama's fault, and you have conceded that his predecessors caused the problem to begin with. So together we have proved that neither party can govern, now we just have to get the rest on board so we can dispense with them both and build a new party that has you and me and every Americans interest and not just the corporate interest!
    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
    There was no surplus....
    Yeah, there was. There really was. The total debt didn't fall much, but there is no question that under Clinton, the US government took in more revenues than it spent; and the opposite is true of the Bush years.


    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.
    I do know the components of GDP, and I do understand the deficit. I also know that Bush left war spending out of the official budgets; how he cut taxes during wartime, and so forth.


    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?
    I assume you're referring to progressive taxes. That's pretty simple.
    Taxes hurt poorer people far more than they do higher incomes.
    Yes, progressive taxes do help balance out income inequality.
    Wealthy people also have resources to reduce their actual tax burden, that poor people do not.


    If liberals are so smart and believe that tax cuts reduce govt. revenue then why don't they stop spending?
    If Republicans are so dedicated to shrinking spending, then why do they keep increasing government spending?



    Progressives also recognize that cutting taxes does NOT increase tax revenues, unless tax rates are already at the top of the Laffer Curve. So, when top marginal tax rates were very high, it made sense to cut them a bit. Now that they are in the 30-35% range, cutting taxes any further will not result in increases in tax revenues.

    Another thing progressives have figured out is that trickle-down economics doesn't work, and is a joke. The wealthy tend to hoard their cash, rather than put it to work, especially in a recession. Mind you, I don't necessarily fault them for doing so, it's a normal reaction. It just means that trickle-down is based on a flawed interpretation of economic behavior.


    Yes, Obama is doing great, that is why he has such a high Job Approval rating.
    Yes, Bush 43 did a great job, hence his high approval ratings. Oh wait...


    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?
    Actually, I believe we should slash defense spending, keep using policies to rein in health care spending, raise the age at which Social Security can be collected, and make a few moderate tax increases. We need to BOTH cut spending AND increase revenues.

    We should also note that taxing the top 1% will not single-handedly solve federal budget issues. However, what it will do -- along with a few adjustments to the estate tax -- is tamp down income inequality.


    Please explain to me who Obama inherited a 10.6 trillion dollar debt that is 17.5 trillion today and cut deficits?
    I think I already have. Bush 43 saddled him with tax cuts that the Republicans refused to change, Medicare Part D, and two very expensive wars. Obama also inherited the worst recession since the Great Depression. (Note: The recession was not primarily Bush 43's fault, but it's also obviously not Obama's either.) Or, in chart form:


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