The Economy - Round Two

Discussion in 'Politics' started by Foxfyre, Nov 10, 2012.

?

Check all that apply. At this time. . . .

  1. I expect the economy to substantially improve soon.

    2 vote(s)
    13.3%
  2. I expect the economy to remain flat or worsen.

    8 vote(s)
    53.3%
  3. I expect Obama’s policies to be mostly good for the economy.

    1 vote(s)
    6.7%
  4. I expect Obama’s policies to be mostly bad for the economy.

    10 vote(s)
    66.7%
  5. I expect my own economic situation to improve.

    2 vote(s)
    13.3%
  6. I expect my own economic situation to worsen.

    5 vote(s)
    33.3%
  7. I am encouraged about a brighter future for the children.

    1 vote(s)
    6.7%
  8. I am worried about the future for the children.

    9 vote(s)
    60.0%
  9. I think I will see some of America’s best days within four years.

    1 vote(s)
    6.7%
  10. I think we won’t see much if any improvement for the next four years.

    9 vote(s)
    60.0%
Multiple votes are allowed.
  1. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    Okay, half the country got its way and we will have four more years of an Obama Administration and at least two more years of a Senate controlled by his party. The opportunity for any of the conservative agenda to be implemented now moot for at least two more years, and we will live with what we have for the interim.

    Today I'm looking at a long list of businesses who already have or are in the process of laying off people. Many waited until after the election to do this at the request of the Administration. And I'm looking at reports of thousands of small businesses who have shelved plans to expand and hire or get back into the game and/or who are paring back enough people to get under the threshhold at which they would be subject to Obamacare penalties. The market has not been happy since the election so far. Is all of this the way it will be for the next four years, or is this a temporary glitch and will soon pass?

    No doubt many who voted to keep Obama in power expect things to now get better and/or think all is well.

    This thread is dedicated to a discussion of economic matters, what is happening, what needs to happen, and our best hopes and fears.

    The poll is to express our expectations in the immediate post-election environment. Four years from now, it could be interesting how accurate we were in our projections.

    Of course some of us will have criticisms and complaints about policy and actions, and others will have defense for the same, but if we could keep a reasonable level of civility it would be much appreciated.
     
  2. Truthmatters
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    Truthmatters BANNED

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    raise taxes on the top bracket
     
  3. Decus
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    Decus Gold Member

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    According to the CBO:
    "By comparison, if the economy falls over the cliff (so to speak) next year, the situation could begin to stabilize as early as 2014. "After next year, by the agency's estimates, economic growth will pick up, and the labor market will strengthen, returning output to its potential level (reflecting a high rate of use of labor and capital) and shrinking the unemployment rate to 5.5 percent by 2018," the report noted."
    Just How High Is the Fiscal Cliff? - Yahoo! Finance

    We need to make the cuts and this is probably the only way to do it.
     
  4. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    The Romney tax plan to lower rates for everybody but reduce or eliminate some deductions for the higher income earners was the way to go, and I hope the President and the Congress will do that. It would greatly brighten the prospects for an economic recovery.
     
  5. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    Yes, we have to make cuts, but it has to be done in ways that won't further decimate a very anemic economy. The first order of business simply has to be to guarantee a tax schedule and guarantee removal of business-inhibiting regulation to allow the revenue producers to be able to turn loose their investment capital and start hiring again. Without revenue being produced, no amount of budget cuts will make a dent in the deficit or debt.
     
  6. Mr. Shaman
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    Mr. Shaman Senior Member

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    :eusa_whistle:
     
  7. Decus
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    Decus Gold Member

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    I believe that job creation should have been this administration real priority but it wasn't and will probably not be in the future. Deficit spending however is a real problem that needs to be addressed sooner rather than later. Better to take the pain now than to continue to kick the can down the road.
     
  8. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    Okay, getting past the psychadelic cut and paste . . . .

    Typically the markets have done very well during Democratic first terms; not so well during Democratic second terms. The markets haven't performed as well as the Democrats in Republican first terms but do much better than Democrats in second terms.

    So here we are in a Democratic second term. Our modest portfolio, except in metals, has been taking a substantial hit since the election. We will likely pull all of our investments out of the market if the President and Congress have not reached an accord to avoid the fiscal cliff by mid December.
     
  9. Mr. Shaman
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    Mr. Shaman Senior Member

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    ....And, BILL CLINTON PROVED....

     
  10. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    I appreciate your opinion and understand the rationale for it. But I also see the reality that if the U.S. government cut every single dime they don't have to spend, the current stagnant economy would continue to produce so little tax revenue that we would still be mounting crushing debt. And the automatic cuts threatened by the fiscal cliff would only exacerbate that because it would throw even more people out of work and make it much harder to make money running a business.

    Four years of a stagnant, floundering economy has put us in a very precarious position.
     

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