Obama economy remains WORST since Great Depression

[loosecannon]

Says you. The vast majority of prominent economists, on both sides of the aisle, and ideological spectrum....

....didn't see this econ downturn coming in the first place, and still don't understand it.

I did see it coming and posted warnings in blogs all over the inet.

You are an Obama stimulus supporter. Own it.

 

[JakeStarkey]

But you, R1, put words in other peoples' mouths. Yes, the recession was foreseeable based on the models of the unregulated big business hot economies of the 1880s to the early 1890s, and the roaring twenties right up until September 1929. That is why all of my family got completely out of doubt by early 2005, and we have done increasingly well each year since, particularly in 2009 and 2010.

Now I know what you, R1, are saying, but let me ask you why since 2001 with the cuts the economy, sucked, boomed, recessed, and now is slowly recovering. If you think the tax cuts are necessary (more money in taxpayers pockets), then are you condemning at the same time the tarp and stimulus bills, which economists on both sides, said were necessary for economic viability?

 

[B. Kidd]

R-1, I don't see anybody here wanting a depression (except that expatriate scoundrel 'Douger'). Some are just pointing out that tax cut extensions and stimulus are just buying time in order to avoid a worst case scenario.

 

[(R)IGHTeous 1]

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

You disappoint me with this.........

 

[Jroc]

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.

What? That’s the real picture goof ball you have to adjust for inflation. Notice the drop starting in early to mid nineties as I said. The real measure though is as a percentage of GDP, I couldn't find a chart for that...I'll look again

 

[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.

What? That’s the real picture goof ball you have to adjust for inflation. Notice the drop starting in early to mid nineties as I said. The real measure though is as a percentage of GDP, I couldn't find a chart for that...I'll look again

The real picture is that spending in real dollars didn't fall hardly an iotta. Once you adjust for inflation there was a mild reduction in defense spending for a very short period of time. Either way you look at it you lose.

 

[loosecannon]

R-1, I don't see anybody here wanting a depression (except that expatriate scoundrel 'Douger'). Some are just pointing out that tax cut extensions and stimulus are just buying time in order to avoid a worst case scenario.

Actually I think they are creating a worst case scenario. The debt is more dangerous than the recession:

Coburn: Control Government Spending or Face 'Apocalyptic Pain'

Read more: Coburn: Control Government Spending or Face 'Apocalyptic Pain' - FoxNews.com

No idea who this Coburn is but I agree with him:

"Apocalyptic pain" from an out-of-control debt could cause 18 percent unemployment and a massive contraction in the economy that would destroy the middle class, a leading Republican deficit hawk said in an interview that aired Sunday.

Sen. Tom Coburn, R-Okla., who recently issued a report on government waste, warned that the U.S. only has about three or four years to get its fiscal house in order or it could find itself facing austerity measures seen in Greece, Ireland, Spain, Portugal and earlier in Japan.

"The history of republics is they average 200 years of life. And they all fail in the history over fiscal matters. They rot from within before they collapse or are attacked," Coburn told "Fox News Sunday."

"The problem that faces our country today, the last 30 years we have lived off the future, and the bill is coming due," he added.

The senator, who was recently elected to a second -- and he pledges -- final term in Congress, said he's not trying to scare anyone, but eliminating waste in the federal government's ledgers is imperative not just to prevent default but a massive implosion that he defined in catastrophic terms.

"I think you'll see a 15 to 18 percent unemployment rate. I think you will see an 8 to 9 percent decline in GDP. I think you'll see the middle class just destroyed if we don't do this. And the people that it will harm the most will be the poorest of the poor, because we'll print money to try to debase our currency and get out of it and what you will see is hyperinflation," Coburn said.

"If we didn't take some pain now, we're going to experience apocalyptic pain, and it's going to be out of our control. The idea should be that we control it," he said.

Whatever bit of remedy the stimulus may have provided now will be exacted back from us with interest in just a few short years. And we have looming problems with liabilities shortfalls in a few years. It is a recipe for as he said, apocalyptic unraveling.

The shortsighted, self centered idiots who are more concerned about some few $ in tax cuts today are exactly like Obama racking up trillions of additional and lethal debt.

You can only live large on tomorrow's money for so long before the party ends.

But hey, what do I know?