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

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

Love it especially how individuals keeping more of what they earn is an expense to the Federal Govt. says a lot about liberalism. Isn't it amazing how liberals are so able to predict what would happen without the tax cuts and ignore what actually did happen with govt. revenue, job creation, as well as economic growth? Liberals are good at making wild predictions but not so good in viewing actual results.

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

Why don't you post them? I can't search for what you're talking about. The only thing I can think of are people that were emotional when the first black president was elected...and that has nothing to do with him being a messiah and everything to do with a historic moment.

Sure you can... It's called google, and just type Obama halo, and then look under pictures. Here I'll help you

https://www.google.com/search?q=obama+halo&source=lnms&tbm=isch&sa=X&ei=C2CsU6qND4Hd8AH-t4DwDw&sqi=2&ved=0CAYQ_AUoAQ&biw=1536&bih=746
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

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"?

Good question, how about it, Obama supporters? Or are tax cuts good now that Obama has extended them?
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

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.

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

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

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

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

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

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

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

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

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

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.

Your opinion noted as well as your total lack of understanding as to how a private sector economy works. You point to small increases in GDP by the various issues but those small increases are still increases and grow the economy as well as create a multiplier effect but I don't expect someone like you or anyone else who believes in Obamanomics to understand that

The private sector requires investment capital and confidence to grow and create jobs. That isn't going to happen under Obama and liberal economic policies. It is the private sector that is going to get us out of this mess not the European socialist model and that will never happen with Obama in the WH
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

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?

Profits or profit margins?
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

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.

Exactly why I use quotes when talking about "cost" and "savings" of taxes. Revenue though is whats on the balance sheets.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

It's both

What you liberals see are only record profits, not record investments, low returns on that investment, and dividends to shareholders. The knowledge displayed by Obama and his supporters is quite disappointing but then what do you expect from a community agitator.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Doubt most liberals know the difference and have no clue as to what ROI means

Well I assumed I didn't have to point out that profit margins were the driving force of record profits, corporate revenue growth hasn't been stellar, but I should of remembered conservatives would have no clue that was the case.
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

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...

Google FDR halo. What did you get?
 
Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

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).

Too bad personal spending is not bouncing back at all. A lot of data is still outstanding, so one cannot make a meaningful judgment based on what data has been presented. Personal spending did prompt a number of downgrades to estimates, though. History suggests Q1 was the starting point of a recession.
 
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