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Thread: Obama's FY 2012 Budget

  1. #411
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    Re: Obama's FY 2012 Budget

    monday we learned that sales of existing homes plummeted to a nine year low in february, 39% of transactions were foreclosures and shorts, 33% cash only

    today:

    http://www.nationaljournal.com/econo...d-low-20110323

    NEW home sales crashed 16.9% since january, "delivering a shock to analysts who expected a gain"

    the FEWEST new home sales in RECORDED HISTORY, more than FORTY YEARS

    median prices for new homes dropped 13.9% in A MONTH, worst ever performance

    obama's answer USED TO BE hamp

    but that turned out to be a "dismal failure," according to dem reps, according to barofsky, tarp's ig

    Obama Loan-Modification Effort

    a full HALF those who received hamp have already REDEFAULTED

    http://www.bloomberg.com/apps/news?p...d=aVYxPZ56vjys

    these are folks, many of em, currently occupying homes newer, larger and more upgraded than YOURS

    obama's solution today---PUNT

    the dude just don't know what he's doin

    can you deny it?
    Last edited by The Prof; 03-23-11 at 01:55 PM.

  2. #412
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    Re: Obama's FY 2012 Budget

    update, 11:37 eastern, cnbc:

    Sales dropped nearly 17 percent in February after a big drop in January. Put that on top of the nearly 10 percent February drop in existing home sales reported earlier this week and the incredibly low level of mortgage purchase applications, and you get a clear case for a double dip in housing.
    Why Housing is Double Dip

    spin, anyone?

  3. #413
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    Re: Obama's FY 2012 Budget

    today:

    President Obama’s former top economic advisor sharply criticized the federal government for failing to take more aggressive action against unemployment.

    “I frankly don’t understand why policy makers aren’t more worried about the suffering of real families,” former Council of Economic Advisors Chair Christina Romer, who left the Administration last fall, said during a discussion at Vanderbilt University in Nashville Tuesday. “I think there are tools we have tools we have that we can use, and I think it’s shameful that we’re not using them.”

    Romer had been a voice inside the Obama Administration pressing for a larger ecnomic stimulus and more aggressive government action from the early days of the Administration, and she’s continued to make that case from the outside in a New York Times column.

    But the sharpness of her criticism reflected deep concern among many Democratic economists about a political consensus that the federal government has to rein in expensive attempts to restart the economy even as rising oil prices again put a damper on growth.

    “We need to realize that there is still a lot of devastation out there,” Romer said, calling the 8.9% unemployment rate "an absolute crisis."

    Romer suggested that extending the payroll tax break to the empoyer side of the payroll tax could spur the economy; she suggested that Congress simultaneously pass a comprehensive, long-term plan for reducing the deficit.
    Former top economist: Economic inaction ?shameful? - Ben Smith - POLITICO.com

    why did ms romer QUIT?

    why did ORSZAG quit, why did SUMMERS?

    obama---the companionless economist

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    Re: Obama's FY 2012 Budget

    The US ranks near the bottom of developed global economies in terms of financial stability and will stay there unless it addresses its burgeoning debt problems, a new study has found.

    In the Sovereign Fiscal Responsibility Index, the Comeback America Initiative ranked 34 countries according to their ability to meet their financial challenges, and the US finished 28th, said David Walker, head of the organization and former US comptroller general.
    our very own DEBT CRISIS

    US Finances Rank Near Worst in World: Study

    when america most needs johnny unitas, we get ray guy
    Last edited by The Prof; 03-24-11 at 09:52 PM.

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    Re: Obama's FY 2012 Budget

    big news, but certainly not unexpected

    The Senate Republicans are preparing to tell President Obama that they want a Balanced Budget Amendment (BBA) to the Constitution passed in Congress in exchange for raising the statuary debt ceiling above $14.2 trillion.

    “My hope is that we would force a vote on a Balanced Budget Amendment as a condition to voting on the debt ceiling,” Sen. John Cornyn (R.-Tex.) told HUMAN EVENTS. “By next week, or shortly thereafter, we will have all 47 Republicans unified behind the effort, and then begin to reach out to our Democratic colleagues.”
    Senate GOP Demand Balanced Budget Amendment for Raising Debt Ceiling - HUMAN EVENTS

    cornyn, by the way, is the gop's next WHIP, head counter, #2 in senate leadership

    what's manchin gonna do, ben nelson, mccaskill, bingaman, tester, kohl, casey, conrad, bill nelson, combat boots webb, jiltin joe lieberman...

    will the PARTY IN POWER resort to FILIBUSTER?

    checkmate

  6. #416
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    Re: Obama's FY 2012 Budget

    Quote Originally Posted by The Prof View Post
    our very own DEBT CRISIS

    US Finances Rank Near Worst in World: Study[/url]
    Where were you political rabble-rousers when Regan tripled the national debt, caused 10.4 unemployment, and dropped the top tax rate down from 71 to 38 percent?

    ricksfolly

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    Re: Obama's FY 2012 Budget

    Quote Originally Posted by ricksfolly View Post
    Where were you political rabble-rousers when Regan tripled the national debt, caused 10.4 unemployment, and dropped the top tax rate down from 71 to 38 percent?

    ricksfolly
    LOL, are you serious? What economic policy did Reagan implement that caused the rise in unemployment? I am sure it had nothing to do with the misery index from the Carter years. Tripling the debt? Anyone here that wouldn't take a 2.6 trillion debt over the 14.3 trillion debt we have today? Reagan added 1.7 trillion in 8 years, Obama will add 5 trillion in three? Where is your outrage?

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    Re: Obama's FY 2012 Budget

    Former President Bill Clinton's budget chief, Alice Rivlin, said Sunday that if Congress does not act to reign in spending or raise revenues, she could easily foresee the possibility of a wider economic crisis.

    "We could definitely have what's called a sovereign debt crisis," Rivlin told CNN's "State of the Union." ""We used to think that only happened to small countries on other continents, but it could happen to us as well"

    "That means that we would not be perceived as able to get our act together and pay our debts and our creditors would lose confidence in us," she said.

    According to Rivlin, a sovereign debt crisis would result in a large interest rate spike, a fall in the global value of the dollar and a period of economic decline much worse than the recession that began in 2008.
    Rivlin: U.S. debt crisis 'definitely' possible - POLITICO Live - POLITICO.com

    ms rivlin appeared this morning on cnn's sotu

    her message was verbatim as above

    raising revenues, by the way, is off the table

    Obama signs tax deal into law - CNN
    Last edited by The Prof; 03-27-11 at 04:10 PM.

  9. #419
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    Re: Obama's FY 2012 Budget

    Quote Originally Posted by Conservative View Post
    LOL, are you serious? What economic policy did Reagan implement that caused the rise in unemployment? I am sure it had nothing to do with the misery index from the Carter years. Tripling the debt? Anyone here that wouldn't take a 2.6 trillion debt over the 14.3 trillion debt we have today? Reagan added 1.7 trillion in 8 years, Obama will add 5 trillion in three? Where is your outrage?
    That would be paul volcker's artificially raising the interest rate to curb inflation in exchange for artificially raising unemployment. That's Econ 101.
    Give a man a fish, or he will destroy the only existing vial of antidote.

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    Re: Obama's FY 2012 Budget

    Quote Originally Posted by iamitter View Post
    That would be paul volcker's artificially raising the interest rate to curb inflation in exchange for artificially raising unemployment. That's Econ 101.
    That doesn't answer the question I aksed ricksfolly regarding his claims about Reagan.

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