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Thread: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

  1. #21
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    Re: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

    Quote Originally Posted by donsutherland1 View Post
    The last two winters have been particularly severe in parts of the U.S. responsible for a lot of economic activity.
    Global warming and all....

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    Re: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

    Quote Originally Posted by Fenton View Post
    First, " trickle down " is just a simplistic politicized description of Supply Side economics and who exactly has " proven " that to be a failure " ??

    MSNBC ? Paul Krugman ? You ? Lol.

    And yes, Obama gets the blame. He signed ObamaCare and he and the Democrat party are responsible for the multiple job killing tax increases and regulations that are contained in that law.

    He gets the blame for all of his partisan rhetoric about making the " Rich pay their fair share " and his EPA mandates that would increase energy cost on the poor and middle class.
    History has proven supply side economic is a failure.

    But if you consider the rich getting richer, the poor getting poorer and country increasing its deficit year over year as success, then you'll disagree with history.
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    Re: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

    Quote Originally Posted by Tettsuo View Post
    History has proven supply side economic is a failure.

    But if you consider the rich getting richer, the poor getting poorer and country increasing its deficit year over year as success, then you'll disagree with history.
    No it hasn't....Lol ! That's ridiculous. Giving consumers more of their own money to spend and incentivizing new investment in a economy creates growth and whats really neat about it is, its not dependant on the " weather ".

    If you don't believe me take a look at Texas's economy as compared to a State like California's economy. Two distinct strategies with two distinct outcomes.

    Whats been proven to be a failure is " stimulus to increase aggregate demand ", debt and taxing wealth creation.

    Its why our economy is stalled after 7 years of record low interest rates, Trillions in new spending, unprecedented Monetary Stimulus and now low fuel cost.

    Central planning with Nationalization of private industries has also been proven to be a failure.

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    Re: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

    Quote Originally Posted by Fenton View Post
    Global warming and all....
    The distribution of short-term temperature anomalies is driven by the prevailing synoptic patterns. That a region is cold and another warm neither proves nor disproves scientific understanding of climate change. FWIW, the global temperature maps and anomalies for January-March 2014 and January-March 2015 (2014 Q1 and 2014 Q2):

    Last edited by donsutherland1; 05-29-15 at 01:43 PM.

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    Re: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

    Quote Originally Posted by Kobie View Post
    The trade deficit has what to do with tax policy, exactly?
    GDP is an indicator of the general health of the economy and the measure by which countries are judged to be in recession when it recedes two consecutive quarters. That has much to do with tax policy. All economists agree that when an economy is in recession, taxes should not be raised and to stimulate economies taxes are often reduced.
    "A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury." Attributed to Alexander Tytler

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    Re: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

    Quote Originally Posted by sawdust View Post
    GDP is an indicator of the general health of the economy and the measure by which countries are judged to be in recession when it recedes two consecutive quarters. That has much to do with tax policy. All economists agree that when an economy is in recession, taxes should not be raised and to stimulate economies taxes are often reduced.
    Tax cuts have not produced growth since Clinton.
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    Re: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

    Quote Originally Posted by Kobie View Post
    Tax cuts have not produced growth since Clinton.
    Wrong. Tax cuts helped end the dot com recession under Bush. Obama's regulatory and fiscal policies even tax cuts couldn't help.
    "A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury." Attributed to Alexander Tytler

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    Re: Economy Shrank in First Quarter as U.S. Trade Deficit Surged

    Quote Originally Posted by Tettsuo View Post
    Economy Shrank in First Quarter as U.S. Trade Deficit Surged - Bloomberg Business



    I wonder if conservatives will reiterate the belief that Obama has done nothing in regards to the economy? So, good or bad, it's not relatable to him.

    Or is it only the bad that's his fault?
    Contrary to popular opinion, the president doesn't manage the economy. Nobody does. The government can affect a positive or negative environment for the economy but the economy will do what it is going to do. Obama didn't create the bad economy nor has he fixed it. He has created a negative anti-business environment which has probably extended it. If we Americans would reverse our terrible trade deficit, the economy would likely fix itself pretty quickly no matter what the president does or doesn't do.

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