Obama economy remains WORST since Great Depression

[editec]

This economic shitstorm is bigger than any POTUS.

It's been brewing for the last 40 years.

 

[Muhammed]

This economic shitstorm is bigger than any POTUS.

It's been brewing for the last 40 years.

Exactly! Too often, people give more credit and/or blame to the POTUS than is deserved. In reality, the Chief Executive has very little control over economic policy.

In the USA the President does not write the laws that govern economic policy, the Legislature does. The President merely implements them.

 

[loosecannon]

there was no peace dividend. We barely cut defense spending at all.

Those are inflation adjusted dollars, not real dollars..

There was no peace dividend, we didn't cut defense spending after the fall of the SU or the Berlin wall.

 

[loosecannon]

FACTS:

*We STILL have RECORD unemployment.
*We STILL have RECORD debt.
*We STILL have RECORD deficits.

Thanks to the tax cuts WE helped pass/extend, individual consumers are able to spend more, as they are more optimistic.

Thanks to us, the well to do consumers will continue to stimulate the economy with their investments.

If the economy is indeed, ACTUALLY GOOD AGAIN by 2012, Obama willl undoubtedly try to lie, and take all the credit, and we will be there to expose said BS.

we don't have record unemployment.

Your tax cuts are the problem, not the solution. At least if record deficits and record debt actually matter to you.

Stop lying. STFU. You been busted on all three points.

.....So you wanted those tax cuts to expire? Painfully and unbearably raising taxes ON ALL AMERICANS DURING THIS MOST FRAGILE TIME IN OUR RECOVERY?

Next!

YES, that IS what I wanted. Because deficits matter, so does our debt.

 

[Truthmatters]

If you tank the economy revenues go down and you have less to pay the debt off with.

Now giving the very people who already benifited from the downturn more money is stupid.

 

[rightwinger]

If you tank the economy revenues go down and you have less to pay the debt off with.

Now giving the very people who already benifited from the downturn more money is stupid.

Especially when you borrow money to give the rich a tax cut

 

[Truthmatters]

Its just crazy.

The people who made BANK off this mess are getting the biggest break.

The ones who dont NEED a break are getting the biggest break.

Then what does the tea party do in response ?

They say not one fucking thing


It took them about a half of a second to give up the entire fiscal argument they carried arround like a shield.

 

[Two Thumbs]

FACTS:

*We STILL have RECORD unemployment.
*We STILL have RECORD debt.
*We STILL have RECORD deficits.

Thanks to the tax cuts WE helped pass/extend, individual consumers are able to spend more, as they are more optimistic.

Thanks to us, the well to do consumers will continue to stimulate the economy with their investments.

If the economy is indeed, ACTUALLY GOOD AGAIN by 2012, Obama willl undoubtedly try to lie, and take all the credit, and we will be there to expose said BS.

LOL! When did the Great Depression have $451 Billion Christmas sales? Get off drugs, OK. That is the first step in recovery, ask Limbaugh who is still stuck on step 1.

It was good to find out no ones taxes were being raised, so people that were hording money, just in case were able to spend it.

Thanks to the conservatives.

 

[editec]

We moved from creditor to debtor nation status under Reagan.

bullshit. We have been a debtor nation since Eisenhower.

TradeImport Export TradeFree Trade GoodsUS History LessonsAmerican History



In 1975, U.S. exports had exceeded foreign imports by $12,400 million, but that would be the last trade surplus the United States would see in the 20th century.


By 1987, the American trade deficit had swelled to $153,300 million.

The trade gap began sinking in subsequent years as the dollar depreciated and economic growth in other countries led to increased demand for U.S. exports.


But the American trade deficit swelled again in the late 1990s. Once again, the U.S. economy was growing faster than the economies of America's major trading partners, and Americans consequently were buying foreign goods at a faster pace than people in other countries were buying American goods.


What's more, the financial crisis in Asia sent currencies in that part of the world plummeting, making their goods relatively much cheaper than American goods.

By 1997, the American trade deficit $110,000 million, and it was heading higher.

Note...110,000 = $110 BILLION...they're using the English way of describing numbers for some reason.

you might find this link informative

http://www.tradingeconomics.com/Economics/Balance-of-Trade.aspx?Symbol=USD

 

[SFC Ollie]

there was no peace dividend. We barely cut defense spending at all.

Those are inflation adjusted dollars, not real dollars..

There was no peace dividend, we didn't cut defense spending after the fall of the SU or the Berlin wall.

According to the current administration there has been no inflation for 2 years.....

 

[(R)IGHTeous 1]

we don't have record unemployment.

Your tax cuts are the problem, not the solution. At least if record deficits and record debt actually matter to you.

Stop lying. STFU. You been busted on all three points.

.....So you wanted those tax cuts to expire? Painfully and unbearably raising taxes ON ALL AMERICANS DURING THIS MOST FRAGILE TIME IN OUR RECOVERY?

Next!

YES, that IS what I wanted. Because deficits matter, so does our debt.

On ALL AMERICANS, which woulda obviously killed ANY economic growth, hiring, etc.

Because a struggling middle class family who has difficulty even putting food on the table or paying rent/mortgage like mine did needs THEIR TAXES going up now too.

You're insane, God willing you'll never hold public office.

You also just destroyed any credibility you had on this issue.

Next!

 

[B. Kidd]

We moved from creditor to debtor nation status under Reagan.

bullshit. We have been a debtor nation since Eisenhower.

Note...110,000 = $110 BILLION...they're using the English way of describing numbers for some reason.

you might find this link informative

United States Balance of Trade

Great post with a good summarization. (Had to spread some rep before giving you anymore).

 

[loosecannon]

We moved from creditor to debtor nation status under Reagan.

bullshit. We have been a debtor nation since Eisenhower.

Note...110,000 = $110 BILLION...they're using the English way of describing numbers for some reason.

you might find this link informative

United States Balance of Trade

the trade deficit isn't the same thing as national debt. Apples and orangatangs

 

[loosecannon]

Those are inflation adjusted dollars, not real dollars..

There was no peace dividend, we didn't cut defense spending after the fall of the SU or the Berlin wall.

According to the current administration there has been no inflation for 2 years.....

great, we were discussing a peace dividend that should have occurred in the early 90s and didn't.

 

[loosecannon]

.....So you wanted those tax cuts to expire? Painfully and unbearably raising taxes ON ALL AMERICANS DURING THIS MOST FRAGILE TIME IN OUR RECOVERY?

Next!

YES, that IS what I wanted. Because deficits matter, so does our debt.

On ALL AMERICANS, which woulda obviously killed ANY economic growth, hiring, etc.

Because a struggling middle class family who has difficulty even putting food on the table or paying rent/mortgage like mine did needs THEIR TAXES going up now too.

You're insane, God willing you'll never hold public office.

You also just destroyed any credibility you had on this issue.

Next!

And you are now on record supporting all of Obama's stimulus programs.

I don't happen to buy into the rationale that this recession was caused by, or can be cured by demand stimulus or shortage. In fact I believe deficit stimulus programs including tax breaks only prolong the misery.

In all econ downturns the economy is pleading for some kind of correction to an existing imbalance before the business cycle can resume. Since Greenspan took the helm of the Fed, our policies have been to defer econ downturns into the distant future via stimulus.

It's a bad policy that resulted in debt that is much more serious a problem than the recession.

 

[B. Kidd]

YES, that IS what I wanted. Because deficits matter, so does our debt.

On ALL AMERICANS, which woulda obviously killed ANY economic growth, hiring, etc.

Because a struggling middle class family who has difficulty even putting food on the table or paying rent/mortgage like mine did needs THEIR TAXES going up now too.

You're insane, God willing you'll never hold public office.

You also just destroyed any credibility you had on this issue.

Next!

And you are now on record supporting all of Obama's stimulus programs.

I don't happen to buy into the rationale that this recession was caused by, or can be cured by demand stimulus or shortage. In fact I believe deficit stimulus programs including tax breaks only prolong the misery.

In all econ downturns the economy is pleading for some kind of correction to an existing imbalance before the business cycle can resume. Since Greenspan took the helm of the Fed, our policies have been to defer econ downturns into the distant future via stimulus.

It's a bad policy that resulted in debt that is much more serious a problem than the recession.

We missed the boat in the '80's by not establishing some kind of sound industrial policy combined with supportive trade policy.

 

[(R)IGHTeous 1]

loosecannon wrote:

And you are now on record supporting all of Obama's stimulus programs.

You confusing Obama's "stimulus" with THE BUSH TAX CUTS (what I really support people and have been in this debate)=epic FAIL. Try again.

I don't happen to buy into the rationale that this recession was caused by, or can be cured by demand stimulus or shortage. In fact I believe deficit stimulus programs including tax breaks only prolong the misery.

Yea, more $ in my pocket.....I'm soooo miserable............

 

[loosecannon]

loosecannon wrote:

And you are now on record supporting all of Obama's stimulus programs.

You confusing Obama's "stimulus" with THE BUSH TAX CUTS

No, I am simply noting your aggressive defense of stimulus as a "necessary" remedy for our current econ woes.

A position that places you squarely in league with Obama and the stimulus programs.

Extending the tax cuts is just another stimulus. Nothing more or less.

 

[(R)IGHTeous 1]

loosecannon wrote:

And you are now on record supporting all of Obama's stimulus programs.

You confusing Obama's "stimulus" with THE BUSH TAX CUTS

No, I am simply noting your aggressive defense of stimulus as a "necessary" remedy for our current econ woes.

A position that places you squarely in league with Obama and the stimulus programs.

Extending the tax cuts is just another stimulus. Nothing more or less.

Says you. The vast majority of prominent economists, on both sides of the aisle, and ideological spectrum agree that extending those tax cuts were vital to maintaining the recovery.

I have always, staunchly opposed Obama's socialist, authoritarian, government takeovers ("stimulus") and I always will. Stop tryna put words in my mouth, cuz that's fail.

But you are indeed now on record as wanting this economy to slide back into recession.....even depression......

 

[CrusaderFrank]

Progressives and Statists in both Parties are crying tears of joy over the damage they've inflicted on our economy and they can join Bush and Delay in the 9th Circle of Hell under Satan's ass