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Thread: U.S. economy bounces back sharply

  1. #211
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Visbek View Post
    Let's keep in mind that it was Bush who took the Clinton surplus, and turned it into massive deficits.

    It's also not all "bloated disgusting spending." Huge swaths of the Obama deficits were a result of Bush tax cuts. We should note that a lot of that "bloated disgusting spending" were also Bush policies, most importantly waging two wars. Government receipts also tanked because of the recession.







    Government jobs generally do not harm the economy. What they do is put people to work. Some of that income is recaptured as taxes (income, payroll, sales). Most of it gets spent, which goes right back into the economy. Some programs like unemployment will have a higher multiplier rate (since it almost all gets spent), but government employees are not a drag.

    We should note that this has helped, time and again, to combat recessions. Ideally you want to hire people to perform useful short-term tasks, such as fixing infrastructure. That in particular would have been perfect for the 2007 recession, since so much of the unemployment was in the construction sector, interest rates were ridiculously low, and those programs necessarily phase out after completion in a few years.

    What did we get instead? A bunch of tax breaks, and a stimulus that erred on the small side. I.e. Public sector jobs declined during Obama's term.

    I don't know how you can look anyone in the idea with these bs charts you post. You have no idea how many jobs would have been created without the tax cuts and there is no credible economist who calls tax cuts an expense to the govt. especially when govt. revenue went up so much. You people pick and choose what you want to believe and if you believe keeping more of what you earn is an expense and that the govt. needs the money more than you do, then send it all to the govt. and have them send you what they think you need.

    I am getting rather tired of trying to promote policies that allow you to keep more of what you earn when you don't appreciate it.

  2. #212
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Mr.Nick View Post
    Yeah right. Perhaps in la-la land but not in reality. This economy is stagnant at best.

    One would think that with 4% GDP growth we would have more than 205,000 jobs created thus the disconnect and reality.

  3. #213
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Conservative View Post
    Any GOP Governor who has created the jobs that Obama is taking credit for. A pro growth economic policy is what is needed, not massive dependence
    Not buyin it. Most of the red states have not done a lot of job creation.
    "Being President doesn't change who you are, it reveals who you are"

  4. #214
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Anthony60 View Post
    It was really the Republican Congress and Reagan that are responsible for the boom in the '90's. Clinton was dragged along. He did manage to get a tax increase in there to put the brakes on the economy though.
    Yet is was only AFTER that tax increase that we had a balanced budget (more or less). Bush then came along, cut taxes, spent like a drunken sailor, and set new deficit records, which Obama inherited.

    Tax cuts, do not cause deficits.
    They do if you spend more. Which both Reagan and Bush did.

    ...Over spending causes deficits...Bush spent too much, but Obama made that look like nothing.
    Bush absolutely did spend too much. Obama continued that trend. Would it have been wise to CUT spending when our economy is in the crapper? The time for cutting government spending is when our private sector economy is booming. Bush cut taxes and then increased spending.

    Does that even make any sense to you?

    Reagan did exactly the same. Does that make any sense? Do you have any clue how much Bush and Reagan ran up our federal deficits? And you want to blame Obama for that?

    What do you think would have happened to our already on the brink of collapse economy if Obama would have came into office and then started slashing government spending? You don't realize how many jobs, public sector and private sector would have been lost? Was the deepest darkest part of the worst recession since the Great Depression the proper time to put people out of work? Do you really believe that?

    Now let's say that your dream conservative candidate would have been elected instead of Obama. Do you think that he would have put another 10% of our economy out of work by slashing government spending? That he would have slashed social security spending? That he would have slashed our military? that he would have eliminated unemployment benefits?

    So why would we want to vote another republican into the presidency? If the deficit is our number one issue, history has proven that the deficit will only get worse with a republican potus.
    Last edited by imagep; 08-06-14 at 06:40 PM.
    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.

  5. #215
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Conservative View Post
    One would think that with 4% GDP growth we would have more than 205,000 jobs created thus the disconnect and reality.
    We had three months of job creation, not just one.

    Of course with increasing technology and the efficiency that is created, it's possible to have GDP growth with no job creation, although I wouldn't expect that to happen instantly.
    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.

  6. #216
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Carleen View Post
    Not buyin it. Most of the red states have not done a lot of job creation.
    Of the top 20 states 13 are Red states. Suggest you do better research.

  7. #217
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by imagep View Post
    We had three months of job creation, not just one.

    Of course with increasing technology and the efficiency that is created, it's possible to have GDP growth with no job creation, although I wouldn't expect that to happen instantly.
    It has taken 7 years to get back to the 2007 numbers. You have such low expectations. Why is that?

  8. #218
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Conservative View Post
    It has taken 7 years to get back to the 2007 numbers. You have such low expectations. Why is that?
    Bush set the bar pretty low.


    But I guess I am to blame, I voted for him.

    By the way, Obama didn't even take office until 2009, so two of those 7 years were on Bush.

    In a couple of more years, even at the poor rate our economy is growing, we should have an unemployment rate of less than 5%, and the budget deficit should be close to nothing. That's a heck of a lot better than the way that Bush left the economy. It took Bush 8 years to wreak our economy and to take the balanced budget that he inherited to over a trillion dollar deficit, I don't see why anyone would expect Obama to be able to cure that in a day, or even in a year.

    I guess I'd just prefer not to go back to the the economic devastation of the Bush years.
    Last edited by imagep; 08-06-14 at 06:57 PM.
    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.

  9. #219
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by imagep View Post
    Bush set the bar pretty low.


    But I guess I am to blame, I voted for him.

    By the way, Obama didn't even take office until 2009, so two of those 7 years were on Bush.

    In a couple of more years, even at the poor rate our economy is growing, we should have an unemployment rate of less than 5%, and the budget deficit should be close to nothing. That's a heck of a lot better than the way that Bush left the economy. It took Bush 8 years to wreak our economy and to take the balanced budget that he inherited to over a trillion dollar deficit, I don't see why anyone would expect Obama to be able to cure that in a day, or even in a year.

    I guess I'd just prefer not to go back to the the economic devastation of the Bush years.
    Prior to the Democrats taking control of Congress the numbers were pretty darn good. You really don't understand civics do you?

  10. #220
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    Re: U.S. economy bounces back sharply

    Quote Originally Posted by Conservative View Post
    Prior to the Democrats taking control of Congress the numbers were pretty darn good. You really don't understand civics do you?
    No, I don't understand civics, I never took that class. But I do understand that part of the the nature of partisan politics is finding a reason to blame the other team.

    I just looked it up, both houses of congress were controlled by republicans until 2007. The budget that Bush inherited from Clinton was a $127 billion dollar surplus. That surplus had disappeared by the next year, and Bush ran the surplus up to over a half billion adjusted to today's dollars (a little more than last years deficit and quite a bit more than this years projected deficit) by 2005. That was with fewer American citizens and social security operating at a budget surplus.

    If Bush's budget performance was acceptable (although I don't believe that it was), then Obama's budget performance is even better. Bush spent 8 years running up the deficit, Obama has spent the last four or five reducing it.

    What really scares the beejeebies out of republican strategist is the possibility that Obama may end his presidency with close to a balanced budget, unemployment under 5%, inflation under 2%, a record stock market valuation, more people with health insurance and an end to skyrocketing medical care costs, and a growing work force participation rate. Sounds ridiculous to right wing idiologs, but the numbers seem to be trending in that direction in all areas.

    If that happened, that would mark the end of the republican party being able to be elected anywhere in the country. We'd all become democrats.
    Last edited by imagep; 08-06-14 at 07:38 PM.
    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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