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Jobless Rate Rises to 9.8 Percent, Highest Since April(edited)

Re: Unemployment rate hits 9.8%. Hope and Change?

Obama fooled a lot of people with his rhetoric and put them in a trance so they ignored his resume. He won the election with 52% of the vote, today his approval rating is about 40% so he lost 12% of his support. Those people woke up, others never will.
Yes... I used to hear a lot of people talk about how they "believed in Obama" and how they "trusted he would do the right thing." I don't hear that much anymore. The people that had become so inspired by the Obama campaign have become utterly deflated by the Obama Presidency. Like balloons that were filled to capacity and then simply let go.... Pppbbbblllltt!
 
Re: Unemployment rate hits 9.8%. Hope and Change?

How is that hope and change working out for you? Why does anyone buy the rhetoric from this Administration?

The recession ended in June 2009 and yet today we have higher unemployment each month of 2010 than we had in 2009, the last year of the recession? Are the remaining Obama supporters ever going to admit they have been duped by the rhetoric of this empty suit?

Jobless Rate Rises to 9.8 Percent, Highest Since April - FoxNews.com

Which of Obama's policies, specifically, do you believe is causing high unemployment?
 
Re: Unemployment rate hits 9.8%. Hope and Change?

So more came to the work market than left.. big woopie. It is just a statistical issue and of course for the right a political "issue", but in reality it means nothing because the US unemployment numbers are flawed.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Please, what have any of the Republocrats done recently to "promote the private sector growth"? You want to sit there and point at Obama. Oh it's his fault, the liberals don't like this and that. Blah blah blah blah blah. The truth is we've been on a slow decline for quite some time now, and it has been the Republocrats who have been in charge over that period. It's not just the liberals fault, both Republican and Democrat are pushing for the same thing, expansion of their power and proliferation of the status quo. This recession wasn't caused on his watch, it was Bush. Obama has merely expanded upon it.

Republicans and Democrats aren't going to save us, they're the ones who put us in this hole.

The Republicans haven't been in charge of legislation since January 2007 but unlike you I don't look for a political party to save me, as I expect to do that myself. I take personal responsibility for both good and bad choices and I do my best to take care of my family so they don't need you to do it for me. I grew up in much simpler times and as a results seem to understand personal responsibility and how to take care of my own.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Either you are bad with math, or you fail to grasp just how how a financial collapse affects jobs.
Look in the mirror and repeat three times.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Which of Obama's policies, specifically, do you believe is causing high unemployment?

A misused stimulus plan that bailed out unions, state employees, and other Democrat contituent groups. He would have gotten much better results cutting taxes 862 billion dollars. Then he piled on with Obamacare which will drive up employment costs.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Look in the mirror and repeat three times.

What are you 7? Your comment was incorrect both in terms of arithmetic and financial reality.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Which of Obama's policies, specifically, do you believe is causing high unemployment?

Which of Obama's policies, specifically, do you believe is incenting private sector job growth?
 
Re: Unemployment rate hits 9.8%. Hope and Change?

A misused stimulus plan that bailed out unions, state employees, and other Democrat contituent groups. He would have gotten much better results cutting taxes 862 billion dollars. Then he piled on with Obamacare which will drive up employment costs.

Another reading comprehension error. The stimulus consisting of both tax cuts and spending is causing unemployment to rise? Care to source which employment cost increases have surfaced as a result of Obamacare?
 
Re: Unemployment rate hits 9.8%. Hope and Change?

A misused stimulus plan that bailed out unions, state employees, and other Democrat contituent groups. He would have gotten much better results cutting taxes 862 billion dollars.

So just to make sure I understand you correctly, you are a huge fan of Keynesian economics...you just think the money could have been better allocated?

Conservative said:
Then he piled on with Obamacare which will drive up employment costs.

Long-term issue, wholly unrelated to current unemployment numbers.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

So more came to the work market than left.. big woopie. It is just a statistical issue and of course for the right a political "issue", but in reality it means nothing because the US unemployment numbers are flawed.

This is true. The way unemployment numbers are calculated by the US government is somewhat misleading. It's more a measure of how difficult it is to find a job at any given moment, rather than how many people are out of work at any given moment.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

The Republicans haven't been in charge of legislation since January 2007 but unlike you I don't look for a political party to save me, as I expect to do that myself.

We've been trending downwards for more than 3 years. There have been several cycles of Republican/Democrat control all with the same end results. Awesome use of hyperbole and propaganda though.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

What are you 7? Your comment was incorrect both in terms of arithmetic and financial reality.
Nope, actually it was correct on both counts.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Which of Obama's policies, specifically, do you believe is incenting private sector job growth?

Stimulus spending, low taxes, fiscal assistance to the states, and (not really an Obama policy as much as a Fed policy) easy access to capital. Additionally, he has not seriously pursued any policies that would hinder the labor market like card check, as many feared he would.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Another reading comprehension error. The stimulus consisting of both tax cuts and spending is causing unemployment to rise? Care to source which employment cost increases have surfaced as a result of Obamacare?

Another typical liberal bit of bs and diversion from the facts. Uncertainty always affects job creation as do potential rising costs. Obviously you have never hired an employee, trained an employee, and then ultimately had to get rid of an employee.

I have posted those so called Obama tax cuts which of course you ignored. They were rebate checks that once gone were gone with the rest targeted with strings attached. Anytime the govt. tells people how to spend their own money the results are a disaster. I'll bet you didn't find that with your nose buried into an economics book.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Care to source which employment cost increases have surfaced as a result of Obamacare?

Insurance Regulators Approve Increases Based on Obamacare
In Connecticut, insurance rate regulators have approved hikes in insurance premiums of up to 20 percent, agreeing with insurers that Obamacare increased their costs. Some people will now pay thousands of dollars a year more as a result.

unless of course you think this will not affect corporations, just individuals.


Citing health overhaul, AARP hikes employee costs
AARP's endorsement helped secure passage of President Barack Obama's health care overhaul. Now the seniors' lobby is telling its employees their insurance costs will rise partly as a result of the law.
 
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Re: Unemployment rate hits 9.8%. Hope and Change?

Stimulus spending, low taxes, fiscal assistance to the states, and (not really an Obama policy as much as a Fed policy) easy access to capital. Additionally, he has not seriously pursued any policies that would hinder the labor market like card check, as many feared he would.

Whose taxes were lowered due to Obama? What fiscal assistence to the states? Easy access to capital doesn't do any good when the consumer doesn't have any money to spend. The results speak for themselves yet you ignore the results.

Compare the two tax cuts and tell me which ones affected the economy most

Tax cuts

Obama Tax cuts

Total: $288 billion

[edit] Tax cuts for individuals

Total: $237 billion
• $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
• $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
• $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
• $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
• $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
• $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
• $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
• $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
• $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.
Bush Tax cuts

Between 2001 and 2003, the Bush administration instituted a federal tax cut for all taxpayers. Among other changes, the lowest income tax rate was lowered from 15% to 10%, the 27% rate went to 25%, the 30% rate went to 28%, the 35% rate went to 33%, and the top marginal tax rate went from 39.6% to 35%.[3] In addition, the child tax credit went from $500 to $1000, and the "marriage penalty" was reduced. Since the cuts were implemented as part of the annual congressional budget resolution, which protected the bill from filibusters, numerous amendments, and more than 20 hours of debate, it had to include a sunset clause. Unless congress passes legislation making the tax cuts permanent, they will expire in 2011.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

So just to make sure I understand you correctly, you are a huge fan of Keynesian economics...you just think the money could have been better allocated?



Long-term issue, wholly unrelated to current unemployment numbers.



I am not a Keynesian economics supporter, I am a total free enterprise supporter and yes the money could have been "allocated" better. Reagan didn't spend that kind of money nor did Bush with their tax cuts. neither did JFK who by the way has quite a few good quotes on taxes

John F. Kennedy on taxes
 
Re: Unemployment rate hits 9.8%. Hope and Change?

This is true. The way unemployment numbers are calculated by the US government is somewhat misleading. It's more a measure of how difficult it is to find a job at any given moment, rather than how many people are out of work at any given moment.

Right, the true number of unemployed is much, much higher.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Whose taxes were lowered due to Obama?

American Recovery and Reinvestment Act.

Conservative said:
What fiscal assistence to the states?

American Recovery and Reinvestment Act.

Conservative said:
Easy access to capital doesn't do any good when the consumer doesn't have any money to spend.

Uhh that's the problem that easy money attempts to SOLVE. :confused:

Conservative said:
The results speak for themselves yet you ignore the results.

The fact that you seem wholly oblivious to the policies that Obama has actually enacted (as opposed to political rhetoric) is not my fault.

Conesrvative said:
Compare the two tax cuts and tell me which ones affected the economy most

Tax cuts

Obama Tax cuts

If you had a list of taxes he cut, then why did you ask me whose taxes were cut?

Conservative said:
Total: $288 billion

[edit] Tax cuts for individuals

Total: $237 billion
• $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
• $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
• $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
• $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
• $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
• $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
• $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
• $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
• $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.
Bush Tax cuts

Between 2001 and 2003, the Bush administration instituted a federal tax cut for all taxpayers. Among other changes, the lowest income tax rate was lowered from 15% to 10%, the 27% rate went to 25%, the 30% rate went to 28%, the 35% rate went to 33%, and the top marginal tax rate went from 39.6% to 35%.[3] In addition, the child tax credit went from $500 to $1000, and the "marriage penalty" was reduced. Since the cuts were implemented as part of the annual congressional budget resolution, which protected the bill from filibusters, numerous amendments, and more than 20 hours of debate, it had to include a sunset clause. Unless congress passes legislation making the tax cuts permanent, they will expire in 2011.

I would assume that the Bush tax cuts affected the economy more, since they were larger. They also lasted for a much longer period of time than was necessary to stimulate the economy during a recession, and unnecessarily added to the deficit during good economic times.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

We've been trending downwards for more than 3 years. There have been several cycles of Republican/Democrat control all with the same end results. Awesome use of hyperbole and propaganda though.

The recession started in December 2007 and ended in June 2009 yet today there are more unemployed people today than when the recession started, how do you explain it?
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Right, the true number of unemployed is much, much higher.

Exactly. I would think, however, that the "real" unemployment number has been showing a lot more signs of progress than the official number, since we have had net job creation for many months now.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

Nope, actually it was correct on both counts.

750k x 24= 18 million; 18 million + 8.5 million = 26.5 million; 26.5 million/ 154 million = 17.2% The last time we had the unemployment rate over 11% was prior to 1939.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

The recession started in December 2007 and ended in June 2009 yet today there are more unemployed people today than when the recession started, how do you explain it?

Unemployment is a lagging economic indicator. Of course there are more unemployed people now than there were when the recession started. Or to rephrase that, of course there are more unemployed people following a period of layoffs and slow growth than there were following a period of job creation and fast growth.
 
Re: Unemployment rate hits 9.8%. Hope and Change?

The recession started in December 2007 and ended in June 2009 yet today there are more unemployed people today than when the recession started, how do you explain it?

The actual recession started before that. That's just when the financial institutions (the entity government is concerned with) started feeling it. Our production capabilities have slowly been dwindling for quite some time now. The reason we're at the state we are now is because of corporatism and government protections of the corporate elite.
 
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