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Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

sidestep what, doctor?

this grand era of expansion and growth mr obama has brought us to?

using his pretty keynes textbook, the bill for 100 years of which deficit spending apparently can no longer be shunned?

sidestep michigan?

sidestep mere service on the debt, INTEREST ALONE, to approach ONE TRIL PER YEAR by 2016?

News Headlines

sidestep deficits in excess of 10% of gdp, causing keynes to keel over in his sarcophagus?

nothing new under the sun since THE THIRTIES?

who's sidestepping?
 
sidestep what, doctor?

this grand era of expansion and growth mr obama has brought us to?

There is high unemployment after all. Were you upset when Reagan and Bush followed the same path? Hindsight is so wonderful isn't it.

using his pretty keynes textbook, the bill for 100 years of which deficit spending apparently can no longer be shunned?

Blame the markets then.... Apparently they are all to happy to keep purchasing debt in record numbers. :shrug:

sidestep michigan?

Knit pick all you like, using one state (Michigan) as your source for negative economic growth is disingenuous. Has the US economy grown following the stimulus?

sidestep mere service on the debt, INTEREST ALONE, to approach ONE TRIL PER YEAR by 2016?

Why are the markets not as spooked as you are? As if you know something they do not:roll: Until we see yields pop, your calls will continue to fall on deaf ears.

sidestep deficits in excess of 10% of gdp, causing keynes to keel over in his sarcophagus?

This is what happens following a close run with an economic depression.

nothing new under the sun since THE THIRTIES?

who's sidestepping?

I have answered all of your questions and queries. You have yet to do the same in proper fashion. Now run along as you are nowhere near relevant.
 
interest alone to approach one tril per year in half a decade

unsustainable, doctor
 
interest alone to approach one tril per year in half a decade

unsustainable, doctor

Taxes will have to be increased ala 1945-1960's.

BTW..... Half a decade is 5 years, so by 2015, the interest on the debt will be $1 trillion annually? First it was 2017, then 2016, now 2015.

Interesting.
 
2015, 2016...

a tril per year, interest alone

"well, we'll just have to raise those taxes, that's all"

voila!

LOL!

those macro stabilizers of yours just don't seem to have GOTTEN THE JOB DONE

i mean, empirically

at least, NOT THIS TIME
 
2015, 2016...

a tril per year, interest alone

"well, we'll just have to raise those taxes, that's all"

voila!

LOL!

those macro stabilizers of yours just don't seem to have GOTTEN THE JOB DONE

i mean, empirically

at least, NOT THIS TIME

Explain how debt:gdp was not nearly as crippling between 1945-1970 as is now?
 
explain how we're gonna come up with a tril a year to service the debt almost as soon as tomorrow
 
explain how we're gonna come up with a tril a year to service the debt almost as soon as tomorrow

Well.... There is always inflation combined with economic growth of which the US government will tax the hell out of.
 
ooh, that's an awful lot of inflation

sounds painful

what happened to those damned macro stabilizers?
 
ooh, that's an awful lot of inflation

sounds painful

what happened to those damned macro stabilizers?

Why don't you calculate the the necessary real guidelines to coincide with the nominal requirements before you say, "awful lot". Then maybe we can have an actual discussion.
 
why don't you?

and while you're at it, why not calculate the exact locus of the failure of all those macro stabilizers, damn their coherence?

cuz THIS ONE's bad, i mean, REAL bad

maybe the worst of all time

and NOT JUST in michigan
 
why don't you?

and while you're at it, why not calculate the exact locus of the failure of all those macro stabilizers, damn their coherence?

cuz THIS ONE's bad, i mean, REAL bad

maybe the worst of all time

and NOT JUST in michigan

Are you done ranting yet? My money says no, it has only just begun. Once unemployment falls below 9%, i can only imagine the envious partisan bicker. :2wave:
 
THAT's what happened to those damned stabilizers?

not much of an ANSWER

doctor

LOL!
 
THAT's what happened to those damned stabilizers?

not much of an ANSWER

doctor

LOL!

One can only do so much with what you have given. I have answered your questions ad nausum, and have yet to receive equal treatment.

and while you're at it, why not calculate the exact locus of the failure of all those macro stabilizers, damn their coherence?

It would be best to tidy up your questions in an attempt (although a long shot) at coherence:)
 
what happened to all that coherent macro stabilization policy?
 
what happened to all that coherent macro stabilization policy?

You mean effective fiscal and monetary policy? Look at asset markets, as they are often first to reflect the dynamic changes in an economy. Next, we look toward capital investment, and finally labor investment.

Deficits will not begin to be chipped away until the last lagging indicator begins to show some results. So when unemployment falls below 9%, and Obama does not show merit on reducing deficits (via tax increases, spending decreases), then you will have a point. Until then, it is all just partisan bickering of which you seem to derive the most joy from.
 
you mean, they didn't WORK?
 
you mean, they didn't WORK?

????

The S&P is up 30% from this point last year, and this does not even cover the March lows in which we could see that number climb past 50%.

Consumer discretionary is already up 50% and can expect that number to climb towards 100% in March.

How about housing?

BlobServer


---------------------------------------------------------

As we can clearly see, asset prices have stabilized as they are the first to reflect dynamics.

Next up is capital investment (the big I in the GDP identity), followed by labor investment (which makes up quite a bit of the big C in the GDP identity).
 
????

The S&P is up 30% from this point last year, and this does not even cover the March lows in which we could see that number climb past 50%.

Consumer discretionary is already up 50% and can expect that number to climb towards 100% in March.

How about housing?

BlobServer


---------------------------------------------------------

As we can clearly see, asset prices have stabilized as they are the first to reflect dynamics.

Next up is capital investment (the big I in the GDP identity), followed by labor investment (which makes up quite a bit of the big C in the GDP identity).
Discretionary spending is up 50%? What is this based on?
 
Discretionary spending is up 50%? What is this based on?

Consumer discretionary American, please pay attention to the context, in this case asset markets. :2wave:
 
well, normative discussions aside...

it appears that those "keynesian stabilization policies," so integral to the avoidance of all those recessions and depressions which occurred so frequently prior to reagan, didn't quite GET THE JOB DONE in 2008 and 2009

but 2010 is gonna be all DIFFERENT!

as soon as we get that UNEMPLOYMENT down to 8.9%!

why, then we'll be able to take on the ONE TRIL OF INTEREST per year that comes due on all that keynesianism starting in about 2015

so gratified we all are that s&p is up 30%---FROM HADES

LOL!

and housing---300,000 foreclosures in january, 11th dreadful month in a row, with no end in sight, says realtytrac

http://www.contracostatimes.com/business/ci_14383870?nclick_check=1

housing sales in december down 17%, worst month in 40 years, no end in sight

http://www.washingtontimes.com/news/2010/jan/25/dec-home-sales-down-almost-17/

My Way News - Record year for foreclosures as unemployment rises

obama's mortgage relief program isn't working

Moneynews - Experts: Obama?s Mortgage Relief Program a Failure

unfortunately, RETAIL SALES fell in DECEMBER, the month of consumerism, indicating a continued drag on CONSUMER spending which even keynes (bless his deficit loving heart) recognizes as critical to recovery

December retail sales drop 0.3 percent - Yahoo! Finance

still, as soon as we turn that corner, as soon as unemployment hits EIGHT POINT NINE PERCENT...

golden!

LOL!
 
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well, normative discussions aside...

it appears that those "keynesian stabilization policies," so integral to the avoidance of all those recessions and depressions which occurred so frequently prior to reagan, didn't quite GET THE JOB DONE in 2008 and 2009

Depends on what you consider getting the job done. Asset markets continue to feed off of the fiscal and monetary life support. As mentioned before, jobs are quite lagging in responsiveness as capital investment is the first to vamp up in periods of low interest rates.

but 2010 is gonna be all DIFFERENT!

as soon as we get that UNEMPLOYMENT down to 8.9%!

Yes, once we see significant job creation, the talk about pulling stimulus can begin. But we have to be careful on the timing, as an early exist can create a double dip.

why, then we'll be able to take on the ONE TRIL OF INTEREST per year that comes due on all that keynesianism starting in about 2015

Are you concerned with default or inflation? My money (pun intended) is on a combination of inflation and tax increases. You have yet to answer the question as to why the markets so heavily demand US debt.... Care to take a stab at it?

so gratified we all are that s&p is up 30%---FROM HADES

No stimulus, credit easing, or TARP, and..... how low would it have gone?

and housing---300,000 foreclosures in january, 11th dreadful month in a row, with no end in sight, says realtytrac

RealtyTrac? Now that is funny considering they stand to benefit on continued foreclosure. A quality analysis is not out of reach, therefore you should try to stick to Case Shiller.

housing sales in december down 17%, worst month in 40 years, no end in sight

And housing prices have began to climb back up to levels that represent fear resistance.

obama's mortgage relief program isn't working

As opposed to the alternatives proposed by the opposition (let it fall to the ground)?

unfortunately, RETAIL SALES fell in DECEMBER, the month of consumerism, indicating a continued drag on CONSUMER spending which even keynes (bless his deficit loving heart) recognizes as critical to recovery

You need to keep a constant eye on revisions. Notice the date of your link....
CNN money said:
Retail sales rose in January, driven by strength in discount retailers and online merchants, according to a government report Friday.

The Commerce Department said total retail sales edged up 0.5% to $355.8 billion last month, compared with December's revised decline of 0.1%. Economists surveyed by Briefing.com had anticipated that January sales would grow 0.3%.

The year-to-year increase was more impressive. January retail sales jumped 4.7%, compared to the same month in 2009.

Consumer spending accounts for two-thirds of U.S. economic activity, and related reports such as retail sales are used to gauge whether a recovery is underway.

Sales excluding autos and auto parts rose 0.6% last month. A consensus of economists had projected ex-auto sales to rise 0.5% in January.

Retail sales rise in January - Feb. 12, 2010

still, as soon as we turn that corner, as soon as unemployment hits EIGHT POINT NINE PERCENT...

golden!

LOL!

Still not even the smallest attempt at coherence. I wasn't hoping for much anyways. Do you know how to use the scripts?
 
Are you done ranting yet? My money says no, it has only just begun. Once unemployment falls below 9%, i can only imagine the envious partisan bicker. :2wave:

Do you mean actual which is 17% or Obama's cooked book figure of 9.7%

Shouldn't you statement say below 8% which is what Obama said he would not go over?
 
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it all depends on what one considers by "getting the job done?"

LOL!

well, no matter how you figure, THIS AINT IT

you're gonna PULL the stimulus after you see "significant job creation?"

like 8.9%?

LOL!

obama promised we'd never top 8

you blame 300,000 foreclosures per month for 11 months on realtytrac?

LOL!

tarp and chrysler and the stimulus (which obama can't call a stimulus anymore) worked so well, heaven knows how far under we'd be without em?

now, there's some SOUND economic reasoning

but the BIG question---how could our economy have collapsed so despite the decades in place of all those keynesian macro stabilizers?
 
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