IndepCentristMA
Well-known member
- Joined
- Mar 16, 2012
- Messages
- 2,110
- Reaction score
- 669
- Location
- Boston, MA
- Gender
- Male
- Political Leaning
- Centrist
Why would anyone want the economy to continue as it has under Obama?
It's sad that the liberal media are doing everything they can to paint the current state of the economy as positive (for Obama, that is)... when in actuality the economy is really struggling...
If the economy was doing so well, why is it that the GDP has been slowing? why is it that the rate of growth of the GDP slowed below inflation? Why did the Fed estimate increasing interest rates? Why is it inflation is going to be increased? How is it that the U6 has not changed, and unemployment numbers released left California out of their analysis (when CA has one of the higher rates of unemployment in the country)?
The truth is the economy is quite stagnant...
People say it's the Republican's whose partisan politics makes them root for a bad economy... No... those are straight numbers in that graphic, which show the real gdp, growing at a slower rate than we did under the Bush economy from 2003-2007... and that was without the extra trillion dollars a year meant to stimulate it...
News Release: Gross Domestic Product
Q1 2012 was half as much as Q4 2011... Q2 2012 has been revised to 1.3%... Numerous early estimates of Q3 2012 all average to significantly below 2%... Which has prompted the Fed to want to get involved...
Federal Reserve may cut benchmark interest rates to boost US economy - Economic Times
The Job numbers aren't good either... There's been another drop of unemployment %, which looks good for the president if you're looking at that... Still 7.8% unemployment is WAY TOO HIGH... Especially when that drop in unemployment has been fueled by 2 negative factors, 1) People dropping out of the workforce, and 2) Temporary government jobs... Those aren't things which are positive indicators of a growing economy... they're further indicators that people are being left out of this economy...
I am part of that temporary government hiring. I work for a state agency which has brought on numerous short-term temporary workers, for 2 weeks or less. We have specific projects which have suddenly come up, and this spur of hiring makes numbers move, but we are laying them all off. I personally have been involved with the hiring/firing of 12 temporary workers in the last 3 weeks, and will be laying off the last 8 of them on Wednesday. I am just 1 low level state worker, as well. This is going on nationwide.
Even where the growth is occurring it’s not in industries which translate to jobs nationwide. It's in healthcare, hospital, and other industries, which weren't struggling to begin with... Areas that have been have continued to struggle, such as Manufacturing, Electronics, and Print industries... where jobs were lost in this recent report.
That jobs report which kept getting reported as such great news was filled with other bad indicators.
Employment Situation Summary
“The unemployment rates for teenagers (23.7 percent), blacks (13.4 percent), and Hispanics (9.9 percent) were little changed.”
I could’ve sworn that just said the major groups who heavily endorse Obama are struggling perhaps the most… Now, they still support Obama, by the numbers, but… How enthusiastic are there groups going to be this time around?
“The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.8 million and accounted for 40.1
percent of the unemployed.”
I could’ve sworn that just said that 40% of those on unemployment have been there for over 27 weeks… That’s a lot of people out there on long term unemployment, with little job creation meaning little hope of those people actually finding jobs… and bound to join the ranks of the discouraged workers…
That’s not a positive… I know there are some signs of growth… but when 110-120K people become eligible to enter the workforce each month, and there are only 115K jobs created… that does little to get any of the 800K discouraged workers each month jobs…
So right now… the president is going around celebrating a net neutral job number… and failing to mention the forgotten employees who have slipped through the cracks, and now are not counted in employment stastics…
These aren’t just random numbers either… Obama’s policies are against growth. They prevent hiring and investment. The reasons? ObamaCare as well as market and tax uncertainty.
ObamaCare has been stated by numerous companies to be the reason why they intend on cutting employees to get below 50 or cover the increased costs of employment, won’t expand employment, focus on hiring temporary and contract employees, etc.
There is enough market uncertainty with the European debt crisis and trouble in the Asian markets. We don’t need tax uncertainty also preventing investment. Obama has on numerous occasions threatened to raise personal income taxes, capital gains taxes, etc. This has prevented people from wanting to keep their income here, invest in our companies, or start up new ventures. Many of those new or small start-up companies start as s-corp’s and get taxed as individuals, and they also rely on capital gains to expand. So why would someone bother taking that risk, when Obama has advocated increasing taxes on them from 35% to about 40%, and then raising capital gains taxes from 15% to 23.5%? That’s why most business organizations are against Obama in this election.
The other thing that holds the economy down at the moment are the high fuel prices.
We all saw Obama talk up a big stink about getting us independent from foreign oil… but we are basically just as dependent, and hurting as a result of the steady rise in costs of fuel under the Obama administration. The Obama administration’s strict regulation on the Coal Industry was a specifically policy he even detailed as something which would basically bankrupt anyone trying to start a new coal plant.
This is also someone who has said he wanted fuel prices to rise gradually, how he could see prices rising to over $10/gal, and who then as president hired an energy secretary who said that same year that he wanted gas prices to go to European levels. He has failed to sign the Keystone Pipeline XL extension bill which not only would create jobs, but increase the amount of oil fed directly to the refineries in the South Central US.
So, if we assume that these “positive” economic indicators of the Obama economy are the course we’d want to take, we’d be guaranteed to see;
Sustained high unemployment/underemployment
http://greenewable.files.wordpress.com/2011/09/u6.gif
A continuing steep drop in the workforce participation rate
Bureau of Labor Statistics Data
High fuel prices
Historical Gas Price Charts - GasBuddy.com
Colder winter will increase heating costs - Oct. 10, 2012
Oil-Heated Homes to Face Steep Price Increases - LIHEAP Clearinghouse
EIA projects record winter household heating oil prices in the Northeast - Today in Energy - U.S. Energy Information Administration (EIA)
An Exponential increase in entitlement spending
Are Entitlements Corrupting Us? Yes - WSJ.com
Medicare and Other Entitlements Are Crowding Out Spending on Defense
The Silent Entitlements Monster: Social Security, Medicare And Interest On The Debt Will Gobble Up Every Single Tax Dollar By 2020
Rise in Entitlement Spending Draws New Focus
America's budget: The elephant in the room | The Economist
Rising federal debt
U.S. National Debt Clock : Real Time
http://upload.wikimedia.org/wikiped...its_vs._National_Debt_Increases_2001-2010.png
These are not good economic numbers… and certainly not something most Americans want more of the same of…
So, I ask again, why would anyone want the economy to continue as it has under Obama?
It's sad that the liberal media are doing everything they can to paint the current state of the economy as positive (for Obama, that is)... when in actuality the economy is really struggling...
If the economy was doing so well, why is it that the GDP has been slowing? why is it that the rate of growth of the GDP slowed below inflation? Why did the Fed estimate increasing interest rates? Why is it inflation is going to be increased? How is it that the U6 has not changed, and unemployment numbers released left California out of their analysis (when CA has one of the higher rates of unemployment in the country)?
The truth is the economy is quite stagnant...
People say it's the Republican's whose partisan politics makes them root for a bad economy... No... those are straight numbers in that graphic, which show the real gdp, growing at a slower rate than we did under the Bush economy from 2003-2007... and that was without the extra trillion dollars a year meant to stimulate it...
News Release: Gross Domestic Product
Q1 2012 was half as much as Q4 2011... Q2 2012 has been revised to 1.3%... Numerous early estimates of Q3 2012 all average to significantly below 2%... Which has prompted the Fed to want to get involved...
Federal Reserve may cut benchmark interest rates to boost US economy - Economic Times
The Job numbers aren't good either... There's been another drop of unemployment %, which looks good for the president if you're looking at that... Still 7.8% unemployment is WAY TOO HIGH... Especially when that drop in unemployment has been fueled by 2 negative factors, 1) People dropping out of the workforce, and 2) Temporary government jobs... Those aren't things which are positive indicators of a growing economy... they're further indicators that people are being left out of this economy...
I am part of that temporary government hiring. I work for a state agency which has brought on numerous short-term temporary workers, for 2 weeks or less. We have specific projects which have suddenly come up, and this spur of hiring makes numbers move, but we are laying them all off. I personally have been involved with the hiring/firing of 12 temporary workers in the last 3 weeks, and will be laying off the last 8 of them on Wednesday. I am just 1 low level state worker, as well. This is going on nationwide.
Even where the growth is occurring it’s not in industries which translate to jobs nationwide. It's in healthcare, hospital, and other industries, which weren't struggling to begin with... Areas that have been have continued to struggle, such as Manufacturing, Electronics, and Print industries... where jobs were lost in this recent report.
That jobs report which kept getting reported as such great news was filled with other bad indicators.
Employment Situation Summary
“The unemployment rates for teenagers (23.7 percent), blacks (13.4 percent), and Hispanics (9.9 percent) were little changed.”
I could’ve sworn that just said the major groups who heavily endorse Obama are struggling perhaps the most… Now, they still support Obama, by the numbers, but… How enthusiastic are there groups going to be this time around?
“The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.8 million and accounted for 40.1
percent of the unemployed.”
I could’ve sworn that just said that 40% of those on unemployment have been there for over 27 weeks… That’s a lot of people out there on long term unemployment, with little job creation meaning little hope of those people actually finding jobs… and bound to join the ranks of the discouraged workers…
That’s not a positive… I know there are some signs of growth… but when 110-120K people become eligible to enter the workforce each month, and there are only 115K jobs created… that does little to get any of the 800K discouraged workers each month jobs…
So right now… the president is going around celebrating a net neutral job number… and failing to mention the forgotten employees who have slipped through the cracks, and now are not counted in employment stastics…
These aren’t just random numbers either… Obama’s policies are against growth. They prevent hiring and investment. The reasons? ObamaCare as well as market and tax uncertainty.
ObamaCare has been stated by numerous companies to be the reason why they intend on cutting employees to get below 50 or cover the increased costs of employment, won’t expand employment, focus on hiring temporary and contract employees, etc.
There is enough market uncertainty with the European debt crisis and trouble in the Asian markets. We don’t need tax uncertainty also preventing investment. Obama has on numerous occasions threatened to raise personal income taxes, capital gains taxes, etc. This has prevented people from wanting to keep their income here, invest in our companies, or start up new ventures. Many of those new or small start-up companies start as s-corp’s and get taxed as individuals, and they also rely on capital gains to expand. So why would someone bother taking that risk, when Obama has advocated increasing taxes on them from 35% to about 40%, and then raising capital gains taxes from 15% to 23.5%? That’s why most business organizations are against Obama in this election.
The other thing that holds the economy down at the moment are the high fuel prices.
We all saw Obama talk up a big stink about getting us independent from foreign oil… but we are basically just as dependent, and hurting as a result of the steady rise in costs of fuel under the Obama administration. The Obama administration’s strict regulation on the Coal Industry was a specifically policy he even detailed as something which would basically bankrupt anyone trying to start a new coal plant.
This is also someone who has said he wanted fuel prices to rise gradually, how he could see prices rising to over $10/gal, and who then as president hired an energy secretary who said that same year that he wanted gas prices to go to European levels. He has failed to sign the Keystone Pipeline XL extension bill which not only would create jobs, but increase the amount of oil fed directly to the refineries in the South Central US.
So, if we assume that these “positive” economic indicators of the Obama economy are the course we’d want to take, we’d be guaranteed to see;
Sustained high unemployment/underemployment
http://greenewable.files.wordpress.com/2011/09/u6.gif
A continuing steep drop in the workforce participation rate
Bureau of Labor Statistics Data
High fuel prices
Historical Gas Price Charts - GasBuddy.com
Colder winter will increase heating costs - Oct. 10, 2012
Oil-Heated Homes to Face Steep Price Increases - LIHEAP Clearinghouse
EIA projects record winter household heating oil prices in the Northeast - Today in Energy - U.S. Energy Information Administration (EIA)
An Exponential increase in entitlement spending
Are Entitlements Corrupting Us? Yes - WSJ.com
Medicare and Other Entitlements Are Crowding Out Spending on Defense
The Silent Entitlements Monster: Social Security, Medicare And Interest On The Debt Will Gobble Up Every Single Tax Dollar By 2020
Rise in Entitlement Spending Draws New Focus
America's budget: The elephant in the room | The Economist
Rising federal debt
U.S. National Debt Clock : Real Time
http://upload.wikimedia.org/wikiped...its_vs._National_Debt_Increases_2001-2010.png
These are not good economic numbers… and certainly not something most Americans want more of the same of…
So, I ask again, why would anyone want the economy to continue as it has under Obama?
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