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LOL --so you're now saying the tax-cuts did not cause the recession?...Correlation does not prove causation......Good to know we agree that the '03 tax cuts increased revenue...
LOL --so you're now saying the tax-cuts did not cause the recession?...Correlation does not prove causation......Good to know we agree that the '03 tax cuts increased revenue...
OK, so what we know for sure is that the rate cuts definitely did not reduce revenue, and that falling revenue changed to increasing revenue the minute the rate cuts came into effect. If someone said the evidence is merely circumstantial we'd have to remember that most trial virdicts are determined upon the presentation of overwhelming circumstantial evidence such as this.
LOL --so you're now saying the tax-cuts did not cause the recession?...Correlation does not prove causation......Good to know we agree that the '03 tax cuts increased revenue...
OK, so what we know for sure is that the rate cuts definitely did not reduce revenue, and that falling revenue changed to increasing revenue the minute the rate cuts came into effect. If someone said the evidence is merely circumstantial we'd have to remember that most trial virdicts are determined upon the presentation of overwhelming circumstantial evidence such as this.
LOL --so you're now saying the tax-cuts did not cause the recession?...Correlation does not prove causation......Good to know we agree that the '03 tax cuts increased revenue...
OK, so what we know for sure is that the rate cuts definitely did not reduce revenue, and that falling revenue changed to increasing revenue the minute the rate cuts came into effect. If someone said the evidence is merely circumstantial we'd have to remember that most trial virdicts are determined upon the presentation of overwhelming circumstantial evidence such as this.
From Forbes.com:
Economically, Could Obama Be America's Best President?
With the stock market hitting new highs, some people have already forgotten about the Great Recession.
Recall 2009. Things looked pretty bleak economically.
But the outlook has changed dramatically in just 4 years. And it has been a boon for investors, as even the safest indices have yielded a 250% return (>25% annualized compound return
Additionally, unemployment and consumer confidence trends have reversed direction and are improving:
Since this coincides with President Obamas first term, I asked the authors of Bulls, Bears and the Ballot Box, (available on Amazon.com and which I reviewed in my October 11, 2012 column,) to capture their opinions on how much Americans should attribute the equity upturn, and improved economic prospects, to the President as we enter his second term.
Interview with Bob Deitrick, co-Author Bulls, Bears and the Ballot Box (BBBB):
Q- Bob, how much credit should Americans give President Obama for todays improved equity values?
BBBB Our research reviewed American economic performance since President Roosevelt installed the first Federal Reserve Board Chairman Republican Marriner Eccles. We observed that even though there are multiple impacts on the economy, it was clear that policy decisions within each administration, from FDR forward, made a clear difference on performance. And relatively quickly.
Presidents universally take credit when the economy does well (such as Reagan,) and choose to blame other factors when the economy does poorly (such as Carter.) But there was a clear pattern, and link, between policy and financial market performance.
Although we hear almost no one in the Obama administration taking credit for record index highs, they should. Because the President deserves attention for how well this economy has done during his leadership.
The auto rescue plan has worked. American car manufacturers are still dominant and employing millions directly and in supplier companies. Wall Street reform has been painful but it has re-instated faith amongst investors. The markets are far more predictable than they were four years ago, as VIX numbers demonstrate greater faith and less risk.
Even for small investors, such as those limited to their 401(k) or IRA investments, the average annual compound return on stocks under President Obama has been more than 24% since the lows of March, 2009. This is a better result than either Clinton, Reagan or FDR who were the prior winners in our book.
Q- Bob, what policies do you think were most important toward achieving todays new highs?
BBBB Firstly, lets review just how bad things were in 2009. In 2000 America was completing the longest bull market in history. But by the end of President Bushs tenure the country had witnessed 2 stock market crashes, and the DJIA had fallen 58%. This was the second worst market decline in history (exceeded only by the Great Depression,) and hence the term Great Recession was born.
In 2000, at the end of Clintons administration, the Consumer Confidence Index was at a record high 140. By January, 2009 this index had fallen to an historic low of 25.3. Comparatively, when Reagan took office at the end of the economically weak Carter years the Confidence Index was still at 74.4! Today this measure of how people feel about the country is still nowhere near 2000 levels, but it is almost 3 times better than 4 years ago.
Significantly, in 2000 America had a budget surplus. By 2009 surpluses were long gone and the country was racking up historic deficits as taxes were cut while simultaneously outlays for defense skyrocketed to cover costs of wars in Iraq and Afghanistan. Additionally, banks were on the edge of failing due to unregulated real estate speculation and massive derivative losses.
Today the Congressional Budget Office is reporting a $200B decrease in the deficit almost entirely due to increased revenue from a growing economy and higher taxes on the wealthiest Americans. The deficit is now only 4% of the GDP, down from over 10% at the end of Bushs administration and projections are for it to be only 2% by 2015 (before Obama leaves office.) Americas debt problem seems largely solved, and almost all due to growth rather than austerity.
We can largely thank a fairer tax code, improved regulation and consistent SEC enforcement. Also, major strides in health care reform something no other President has accomplished has given Americans more faith in their future, and an increased willingness to invest.
This is the most hilarious thread of all time.
From Forbes.com:
Economically, Could Obama Be America's Best President?
With the stock market hitting new highs, some people have already forgotten about the Great Recession.
Recall 2009. Things looked pretty bleak economically.
But the outlook has changed dramatically in just 4 years. And it has been a boon for investors, as even the safest indices have yielded a 250% return (>25% annualized compound return
Additionally, unemployment and consumer confidence trends have reversed direction and are improving:
Since this coincides with President Obamas first term, I asked the authors of Bulls, Bears and the Ballot Box, (available on Amazon.com and which I reviewed in my October 11, 2012 column,) to capture their opinions on how much Americans should attribute the equity upturn, and improved economic prospects, to the President as we enter his second term.
Interview with Bob Deitrick, co-Author Bulls, Bears and the Ballot Box (BBBB):
Q- Bob, how much credit should Americans give President Obama for todays improved equity values?
BBBB Our research reviewed American economic performance since President Roosevelt installed the first Federal Reserve Board Chairman Republican Marriner Eccles. We observed that even though there are multiple impacts on the economy, it was clear that policy decisions within each administration, from FDR forward, made a clear difference on performance. And relatively quickly.
Presidents universally take credit when the economy does well (such as Reagan,) and choose to blame other factors when the economy does poorly (such as Carter.) But there was a clear pattern, and link, between policy and financial market performance.
Although we hear almost no one in the Obama administration taking credit for record index highs, they should. Because the President deserves attention for how well this economy has done during his leadership.
The auto rescue plan has worked. American car manufacturers are still dominant and employing millions directly and in supplier companies. Wall Street reform has been painful but it has re-instated faith amongst investors. The markets are far more predictable than they were four years ago, as VIX numbers demonstrate greater faith and less risk.
Even for small investors, such as those limited to their 401(k) or IRA investments, the average annual compound return on stocks under President Obama has been more than 24% since the lows of March, 2009. This is a better result than either Clinton, Reagan or FDR who were the prior winners in our book.
Q- Bob, what policies do you think were most important toward achieving todays new highs?
BBBB Firstly, lets review just how bad things were in 2009. In 2000 America was completing the longest bull market in history. But by the end of President Bushs tenure the country had witnessed 2 stock market crashes, and the DJIA had fallen 58%. This was the second worst market decline in history (exceeded only by the Great Depression,) and hence the term Great Recession was born.
In 2000, at the end of Clintons administration, the Consumer Confidence Index was at a record high 140. By January, 2009 this index had fallen to an historic low of 25.3. Comparatively, when Reagan took office at the end of the economically weak Carter years the Confidence Index was still at 74.4! Today this measure of how people feel about the country is still nowhere near 2000 levels, but it is almost 3 times better than 4 years ago.
Significantly, in 2000 America had a budget surplus. By 2009 surpluses were long gone and the country was racking up historic deficits as taxes were cut while simultaneously outlays for defense skyrocketed to cover costs of wars in Iraq and Afghanistan. Additionally, banks were on the edge of failing due to unregulated real estate speculation and massive derivative losses.
Today the Congressional Budget Office is reporting a $200B decrease in the deficit almost entirely due to increased revenue from a growing economy and higher taxes on the wealthiest Americans. The deficit is now only 4% of the GDP, down from over 10% at the end of Bushs administration and projections are for it to be only 2% by 2015 (before Obama leaves office.) Americas debt problem seems largely solved, and almost all due to growth rather than austerity.
We can largely thank a fairer tax code, improved regulation and consistent SEC enforcement. Also, major strides in health care reform something no other President has accomplished has given Americans more faith in their future, and an increased willingness to invest.
Considering how republicans have tried everything in their power to ruin the Obama presidency from day one of his presidency including trying to bring the worlds economy to a halt, I have to give Obama an A+. Not bad considering he was not my first choice. I think he should have went after the repubs and put them on the defensive from day one, instead of trying to work with them as if they were decent human beings which they're not.
You may be way underestimating people's ability to look right at one thing and suddenly decide they're seeing the opposite. My honest take is that these are folks who actually believe it when they say things like "massive spending solved the great recession" and "more borrowing reduces debt"....liberals deep down know he is a disaster economically! ...
You may be way underestimating people's ability to look right at one thing and suddenly decide they're seeing the opposite. My honest take is that these are folks who actually believe it when they say things like "massive spending solved the great recession" and "more borrowing reduces debt"....liberals deep down know he is a disaster economically! ...
Now, couple the fact that this "un-think" is generally basic human nature, plus the fact that for thousands of years humankind's carried forth an ever-advancing civilization, I'd say we got overwhelming proof that there is a God. Like, you got a better explanation?
