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And the TARP money is being paid back.
This can't be true..
Glenn Beck tells us Obama has added $40 trillion to the debt
Personally, I prefer to get my political humor from cartoons:
Funny South Park Satire of Glenn Beck Video
And the TARP money is being paid back.
Sure it is....
You get any of it back yet?
You do realize of course, that it was not governments money...it was ours....
Anyone knocking on your door with a check yet?
Dont count on it.
In the 3rd quarter 1.5% of that GDP was cash for clunkers, that's spending tax dollars, that's not real growth and as we have seen the second that program was over the car sales dropped off a cliff. The remainder of that 2.8% growth was nothing more than more government spending. People are doing funny things with the numbers, but the fact remains, in some areas in this country the REAL unemployment number is around 17%. Those are people that have been out of work so long that they are not even counted anymore.
A good trick to pay off this deficit is inflation, that's going to happen but it will cause a double dip recession, but it's happened done before and it's going to happen again.
OK, the concept of a stimulus is to give the economy a shot in the arm and restart growth. The fact that the GDP rose by 2.8% means that the stimulus is doing exactly what it's supposed to do.
And the fact that fourth quarter GDP growth is supposed to be around 2.5% is an even better indication. Combined with all the other factors that indicate a recovery is in fact happening, it's an excellent indication.
Plus, listen to yourself! Do you remember during the Bush administration when you people complained that the negativity of the critics would drive down the economy?
That's exacly what you're doinig right now. Do you really want the US economy to fail just to prove a political point?
In the 3rd quarter 1.5% of that GDP was cash for clunkers, that's spending tax dollars, that's not real growth and as we have seen the second that program was over the car sales dropped off a cliff. The remainder of that 2.8% growth was nothing more than more government spending. People are doing funny things with the numbers, but the fact remains, in some areas in this country the REAL unemployment number is around 17%. Those are people that have been out of work so long that they are not even counted anymore.
A good trick to pay off this deficit is inflation, that's going to happen but it will cause a double dip recession, but it's happened done before and it's going to happen again.
OK, the concept of a stimulus is to give the economy a shot in the arm and restart growth. The fact that the GDP rose by 2.8% means that the stimulus is doing exactly what it's supposed to do.
And the fact that fourth quarter GDP growth is supposed to be around 2.5% is an even better indication. Combined with all the other factors that indicate a recovery is in fact happening, it's an excellent indication.
Plus, listen to yourself! Do you remember during the Bush administration when you people complained that the negativity of the critics would drive down the economy?
That's exacly what you're doinig right now. Do you really want the US economy to fail just to prove a political point?
Except that Government spending is included in that 2.8% figure.
Funny, but completely un-factual.
And full of right-wing talking points.
Except that Government spending is included in that 2.8% figure.
Except that as you folks keep pointing out, hardly any of the stimulus has been spent yet, so how would that be?
Let's break down the actual numbers:
So far, 200 Billion dollars has been spent in the stimulus, INCLUDING the 3 billion for "Cash for Clunkers". The US GDP is currently 14.3 Trillion dollars.
That means that the stimulus spending was 1.39 percent of the GDP.
Which means that the growth in GDP for just one quarter was more than double stimulus spending, at 2.8%.
And the next quarter is expected to be about 2.5%, which will be free and clear of federal spending altogether.
Since there has been negative inflation during that time, the GDP growth is in fact more dramatic.
You have that all wrong, I would love nothing more than to see people get back to work, not lose their homes and not see the homeless shelters I see popping up all over my state. My opposition to Obama is his agenda.
Government does not create jobs the private sector does.
Obama has a" flood the basement approach" a keynesian economic theory and those people are not the job creators. I am a proponent of the "trickle down theory," as it has been proven to work. Reagan and Bush both used this theory and both times it worked to get people back to work. With Reagan's trickle down agenda it created 20 million new jobs that went on for a decade after he was gone.
I have zero confidence that Obama's stimulus plan or his economic one will do what it was stated to do and that is to put people back to work. He knows it's not working too, that's why there is talk of a second stimulus.
almost 2 trillion for a failed and collapsed stim pack
your leader projects a 10 trillion deficit. now closer 12 ???? its on your liberal CBS media
do really expect anyone to buy what a Chicago gangster news paper says ??? did you even read it??? the survey says...............
and the NY slime forecasting??? give your brain a break
go back to watching your cartoons. its more educational for your level !!!!
2.5% is less than the 2.8% you are touting for the 4th quarter, that's a loss of .3% from the previous quarter. How do you call that a success?
The National Deficit estimate for this year has now been reduced to 1.3 Trillion dollars.
That figure was 1.2 Trillion on January 7th of this year, before Obama even took office.
Which means that Obama has added a grand total of 100 Billion dollars to the deficit so far this year. An amount that is significantly smaller than the amount of money spent on stimulus so far this year, meaning that that the entire amount can be attributed to stimulus spending.
Other factors that are looking good:
- Unemployment has stopped rising and seems to even have decreased, from 10.2% to 10.0%. Contrast that to the Reagan administration, which had 2 1/2 Years of unemployment increases before the economy started recovering from the Carter recession, and it reached 10.4% at it's height.
- The bailouts are being recovered, almost in full, with only 42 Billion dollars lost so far, and more profits expected on the horizon to offset any additional losses, as opposed to the 700 Billion dollar figure that is much repeated by the right-wing talking heads.
- The housing market is making a recovery and home prices are on their way back up.
- Wall Street has recovered and is on it's way up in leaps and bounds, already 2000 points above what it was the day Obama was inaugurated.
- 3rd Quarter GDP was up by 2.8%, and is predicted to have another significant rise in the 4th quarter.
And this is just off the top of my head. There are many, many other factors that prove that the recovery has begun, contrary to all the prerdictions of the talking heads.
Talking Heads like Rush Limbaugh, for instance, who has continuously claimed that the recession has graduation to a full-blown depression.
Do right-wingers ever get tired of being wrong?