9.8 ...Unemployment

[boedicca]

Obama spent increased the Debt by $2.7T, and all we got was this lousy 9.8% unemployment rate.

 

[Dont Taz Me Bro]

Sheez ... that's what 4 years of Democrats controlling the purse strings gets you...

Well that and over 14 trillion in national debt..

The bulk of that national debt was piled on by Republicans.

 

[Cuyo]

Obama spent increased the Debt by $2.7T, and all we got was this lousy 9.8% unemployment rate.

The Obama deficits were caused primarily by the recession - Not new spending. Sorry, I know that's just devastating to your hate-Obama-no-matter-what point of view.

 

[code1211]

The economy has recovered. There are no jobs because thanks to you free traders, we have an economy that doesn't require mass amounts of labor to run, and expand.

You couldn't be more wrong.

The economy has not recovered. 2.5% economic growth is not a recovery; we need 3% just to keep up with population growth.

The reason it has not recovered is because the size of the Federal Government as a % of GDP has increased by 25% in the past two years. The Feds sucked the oxygen out of the private sector.

We're in agreement that the economy has not recovered; however, I'm not sure if your reason about the size of the Federal Government as a % of GDP makes as much sense as Dean Baker's autopsy of the President's Fiscal Commission:

"The country has a large deficit today because the collapse of the housing bubble wrecked the economy.

"This is simple and obvious to everyone familiar with the dynamics of the budget and the economy.

"If the unemployment rate were at its pre-recession level of 4.5 percent, we would have, at most, a modest deficit.

"Furthermore, the story of out of control government spending is entirely an invention of people with an agenda to pursue. In 1980, non-interest spending (?) was 19.8 percent of GDP.

"The Congressional Budget Office projects that it will rise to 21.1 percent of GDP in 2020 under President Obama's budget.

"An increase in spending of 1.3 percentage points of GDP over 40 years hardly qualifies as out of control."Much of any additional revenue needed can be obtained by a tax on Wall Street financial speculation.

"Remarkably, the commission's co-director's apparently never considered this obvious source of revenue."

The problem with splitting out one part of spending to include it in or include it out is that as soon as you do this, you head off to fantasy land.

All Government spending in 1980 was closer to 33% of GDP. Now it's closer to 43% of GDP. This is not a simple increase of 10%. It is an increase of 10% against the base line of finds that are available to support it. If we were not in trouble fiscally, there might be some merit in your thinking, but we're in Sheep Dip right now and it's getting Sheeper all the time.

If we reduced our spending by 10% in relation to the GDP, it would cause a whole slew of other problems, but the deficit would evaporate.

 

[boedicca]

Obama spent increased the Debt by $2.7T, and all we got was this lousy 9.8% unemployment rate.

The Obama deficits were caused primarily by the recession - Not new spending. Sorry, I know that's just devastating to your hate-Obama-no-matter-what point of view.

Wrong again.

Total Federal Outlays were $2.8T in 2007. This year they will be $3.7T.

The enormous increase is spending is causing most of the deficit. If we had held government spending flat, just as households and many businesses are doing to manage their ways through the recession and lack of real recovery, we would have a very moderate deficit, and likely be in a real growth recovery of 5% plus.

And your hate comment reveals the bankruptcy of your supposed intellect. Economic reality refutes your POV, so you have to resort to playing the Hate (and embedded Race) Card.

 

[Cuyo]

if thats your take ....if theres one person I expected a non knee jerk response from it was you. you know that Germany and several other European nations in 2007 started ratcheting down their corp. tax rates for instance, real estate laws etc., grappling with adjusting entitlements etc. They didn't follow us as to massive spending, merkel built in savings to her last austerity measure in june without tax increases to boot, they had record growth in Q2, , so theres a lesson there somewhere...no?

OK, so your take is that when they were farther left, and we were farther left, and we were "Winning," that's proof that "Socialism" doesn't work. But now that they've moved slightly to the right, and we've moved slightly to the right - But they're still to the left of us, and they're "winning," - That's also proof that "Socialism" doesn't work?

hello, my name Trajan, I don't know who's posts you have been readiing and assigning my name to but......

Ummmmm.... Ok... So you first pointed out that Germany has lower (and improving) unemployment than us. We pointed out that Germany is "Socialist" by the loose definition you nitwits are using these days. You pointed out that they've moved farther right - But as far as I can tell, you're not arguing that they're governing to the right of us. So they're improving whilst still governing to the left of us, and your argument is somehow, err -- What the hell is your argument? Why did you even bring up "Socialist" Germany?

No strawman involved, you tied your own noose and now you're tuggin' on it...

 

[The T]

Obama spent increased the Debt by $2.7T, and all we got was this lousy 9.8% unemployment rate.

That 'officials' don't see decreasing anytime soon...

White House: Expect nine percent unemployment until 2012<July 25th

Remember when the White House was arguing to pass the stimulus bill and said if it passed unemployment would top out at eight percent and start declining after the third quarter of last year? The White House would rather you forget that:
The White House said Friday it expects that unemployment will stay at or above 9% until 2012, but at the same time forecast that the economy will grow by at least 4% in 2011 and 2012.
It also revised its long-term deficit estimate under President Obama's proposed 2011 budget: The administration now believes the 10-year deficit will be $58 billion less than projected in February when the budget blueprint was first released.
Under the revised estimates, Uncle Sam will ring up $8.474 trillion in deficits between 2011 and 2020, down from the $8.532 trillion estimated in February.

Unacceptable. The government knows what to do. They won't. Turns out that certain recent developments ring this piece to be true.

 

[boedicca]

Obamanomics has increased the structural unemployment in the economy, resulting in government induced misery for millions.

 

[Trajan]

OK, so your take is that when they were farther left, and we were farther left, and we were "Winning," that's proof that "Socialism" doesn't work. But now that they've moved slightly to the right, and we've moved slightly to the right - But they're still to the left of us, and they're "winning," - That's also proof that "Socialism" doesn't work?

hello, my name Trajan, I don't know who's posts you have been readiing and assigning my name to but......

Ummmmm.... Ok... So you first pointed out that Germany has lower (and improving) unemployment than us. We pointed out that Germany is "Socialist" by the loose definition you nitwits are using these days.

dude, I don't know you, I don't think we have ever had one exchange, if this is how it goes with you, don't bother addressing me. okay?

You pointed out that they've moved farther right - But as far as I can tell, you're not arguing that they're governing to the right of us. So they're improving whilst still governing to the left of us, and your argument is somehow, err -- What the hell is your argument? Why did you even bring up "Socialist" Germany?

and again, you are injecting or projecting your own bias, I didn't make a case vis a vis one political system vs. another. My points addressed economic issues.

No strawman involved, you tied your own noose and now you're tuggin' on it...

see above.

 

[Mr Natural]

With an increasing population and a decreasing job base, ten percent unemployment is the new norm. And neither government or business is willing or able to do anything about it.

Better get used to it.

 

[The T]

Obama spent increased the Debt by $2.7T, and all we got was this lousy 9.8% unemployment rate.

The Obama deficits were caused primarily by the recession - Not new spending. Sorry, I know that's just devastating to your hate-Obama-no-matter-what point of view.

So he continues the same failed policies? What to expect from a Gerbil Rancher as yourself?

Fact is? Obama and the Statists in Congress won't quit spending.

Hurry up January so we can begin to reverse the course of this ill-fated vehicle we are on.

 

[boedicca]

With an increasing population and a decreasing job base, ten percent unemployment is the new norm. And neither government or business is willing or able to do anything about it.

Better get used to it.

Incorrect.

The problem is the Increasing Size Of Government which is retarding real economic growth that creates jobs.

 

[The T]

With an increasing population and a decreasing job base, ten percent unemployment is the new norm. And neither government or business is willing or able to do anything about it.

Better get used to it.

It is patently unacceptable. Government needs to cease spending on the forced utopia and get out of the way of the producers of this nation that know how to get things done.

 

[asterism]

But wait, that's impossible. Germany must be doing worse than us... Because as far as you guys are concerned, they're... They're suh suh suh.....

SOCIALIST!

Everyone knows the only answer to the problem is to govern to the right of where we're now governing!...

The top tax rate in Germany is 45%....

Corporate tax rate 15%...

They have a VAT that provides 31.5% of their national tax income...

They have a progressive death tax (up to 100%!)...

Everyone knows all these things just KILL the economy, so surely Germany's unemployment rate is at 1000% or worse! You MUST be mistaken! [/SARCASM]

Looks like austerity measures create growth even in economies more socialist than ours. Has Germany increased government or decreased it to produce this recovery? What is the US doing?

Oblivious to the facts presented. Amazing.

Oblivious to what facts? Please present them and show me where I'm wrong.

 

[Meister]

With an increasing population and a decreasing job base, ten percent unemployment is the new norm. And neither government or business is willing or able to do anything about it.

Better get used to it.

Oh brother....I just listened to this from the Obama camp. Now it's the talking points from the left. When a president is in over his head with managing his position....it becomes the "new standard" then becomes a talking point. All it really is, is a deflection of blame from Barry (Mr. Teflon).

 

[Dont Taz Me Bro]

With an increasing population and a decreasing job base, ten percent unemployment is the new norm.

If we continue the current economic strategy, then yes, you're correct.

 

[iamwhatiseem]

Well after they pass the Dream act - this will all go away.

 

[The T]

With an increasing population and a decreasing job base, ten percent unemployment is the new norm. And neither government or business is willing or able to do anything about it.

Better get used to it.

Oh brother....I just listened to this from the Obama camp. Now it's the talking points from the left. When a president is in over his head with managing his position....it becomes the "new standard" then becomes a talking point. All it really is, is a deflection of blame from Barry (Mr. Teflon).

And they still expect us to sign onto mediocraty? I Find it unacceptable.

 

[The T]

Well after they pass the Dream act - this will all go away.

I hope it gets bottled up until next year. Then it's chances of passing are NIL.

 

[NYcarbineer]

Here we go with the wealth Envy crap again. 'Scuse me? But wasn't it Democrats (VP Joe Bite Me) that proclaimed "Summer Of Recovery"?

People are sitting on money because of the horsecrap this administration has been dishing out for the past 2 years and I don't blame them for sitting on it.

Why would anyone invest in anything right now knowing over half of it will be taken from them and spent on Socialist folly?

There has been nothing but attack after attack on American business and capitalism while this Government spends us further into the hole a-la EU and other despot nations.

Americans are waiting to see what the new GOP House is going to do. Watchword here is cautious optimism for even the GOP is on double secret probation in the eyes of the people that sent them.

The economy has recovered. There are no jobs because thanks to you free traders, we have an economy that doesn't require mass amounts of labor to run, and expand.

The economy hasn't revcovered.....that's the problem, it's still limping. Keep listening to your administration, though. Listen to all the jobs "created and saved" while your at it.

Once again, I simply post facts, to, as usual, end the debate:

That is an economic recovery. Is it a jobless recovery? More or less. But it is a recovery. You conservatives should love this recovery,

improved GDP without having to spend a whole lot on labor. Isn't that the Capitalist's best case scenario?