National Association of Manufacturers Report Shows Grim Economic Future

Discussion in 'Politics' started by beretta304, Oct 26, 2012.

  1. beretta304
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    beretta304 BANNED

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    The report called the potential job loss “dramatic” and said the economy could lose 3.6 million jobs by 2013 and in 2014, “the peak year of loss, employment is 5.7 million jobs lower relative to the baseline.” The unemployment level could be at nearly 12 percent in 2014 and remain poor through 2015.

    “Even if the Administration and Congress resolve the uncertainty before the end of the year, economic growth already has sustained significant damage,” the report concluded. “The short-term fiscal contraction set for 2013 will trigger long-run durable losses to GDP, productivity, and real income.

    “Even under the best-case scenario, it will take almost a decade for economic activity and employment to reach the levels they would have reached without a fiscal shock. While the spending cuts and tax increases reduce the federal deficit and debt, the substantial negative consequences of not addressing the end-of-year fiscal crisis before it happens will be
    devastating.”



    Read more on Newsmax.com: National Association of Manufacturers Report Shows Grim Economic Future
     
  2. SniperFire
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    SniperFire Senior Member

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    sssshhhhhhhhh... don't worry about that stuff.

    How about some foodstamps?
     
  3. beretta304
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    Can I get a phone too?
     
  4. occupied
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    occupied Gold Member

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    I want to hear how this is all Obama's fault.
     
  5. SniperFire
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    SniperFire Senior Member

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    [​IMG]
     
  6. TNHarley
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    TNHarley Gold Member

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    He took responsibility. I believe even he said how everything would be great before the end of his first time. Oh, that's probably Bushs fault he said that?
     
  7. occupied
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    occupied Gold Member

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    Lame, we are seeing a bunch of republicans trying to blame the "fiscal cliff" on Obama but I have yet to hear one explain exactly how a plan drawn up and passed by the republican house as a deal to get the debt ceiling raised is all his fault. They precipitated the debt ceiling "crisis", they kicked the can down the road to make it an election issue and then failed to even to do that.
     
  8. SniperFire
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    SniperFire Senior Member

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    [​IMG]
     
  9. beretta304
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    [ame=http://www.youtube.com/watch?v=SmRgaKfWMPA&feature=player_detailpage]Obama said he should serve only one term - YouTube[/ame]
     
  10. occupied
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    occupied Gold Member

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    Yeah I thought so, the truth hurts too much to even make a half-assed attempt.
     

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