daveman
Diamond Member
23,116,928 to 20,618,000: Households on Food Stamps Now Outnumber All Households in Northeast U.S. | CNS News
I bet these people are celebrating the **** out of your good news.
90,609,000 not included in work force
- Thread starter JRK
- Start date
23,116,928 to 20,618,000: Households on Food Stamps Now Outnumber All Households in Northeast U.S. | CNS News
I bet these people are celebrating the **** out of your good news.
There are more people on disability than 2009. There are more people on foodstamps. There are fewer people working. Average household income is lower. Average household wealth is lower. People are retiring earlier and delaying entry into the job market more because of poor conditions.
Yeah, that's cause for celebration.
Dolt.
daveman
Diamond Member
Gobama!
edthecynic
Censored for Cynicism
- Oct 20, 2008
- 43,044
- 6,888
- 1,830
edthecynic
Censored for Cynicism
- Oct 20, 2008
- 43,044
- 6,888
- 1,830
There are 9 million more retirees since Obama took office.
edthecynic
Censored for Cynicism
- Oct 20, 2008
- 43,044
- 6,888
- 1,830
The GOP held unemployment insurance hostage if they weren't extended and the Right insists this has been a jobless recovery with the Bush tax cuts extended.
http://www.csmonitor.com/USA/Politi...-not-until-Bush-tax-cuts-pass-Senate-GOP-says
Unemployment benefits: not until Bush tax cuts pass, Senate GOP says
Last edited:
Dragonlady
Designing Woman
The loans were pieces of shit from Day 1. People were loaned mortgages for 100% of the purchase price, at artificially low interest rates, without proof of income to service the debt. In many cases, borrowers were encouraged to lie about their income so mortgage brokers could earn fat fees. It was assumed that house values would continue rising thereby creating equity out of thin air to make these loans safe.
This was a giant Ponzi scheme that was never going to end well. When interest rates went up and borrowers couldn't afford the payments which had doubled or tripled over their initial costs. The bubble burst and people walked away because they owed more on the houses than they were worth and they had none of their own money in the property anyway.
- Thread starter
- #69
So 5 and 7 year old tax policy caused inflated assets and people loaning people money that neither had any business doing?
net job loss?
from 2003 to the end of his term there was 4 million jobs added
now we can ignore GWB bottom number, but then the same goes for BHO
That means to date during his term we have added about 400k and if we go back to 08 numbers we are still millions behind
BTW Fracking has added wekll over 1 million jobs alone
we know how much BHO has done to support this
www.businessweek.com/.../fracking-boom-seen-raising-u-dot-s-dot-inco...*
Sep 4, 2013 - In 2012, the energy boom supported 2.1 million jobs, added almost $75 ... domestic product and lifted household income by more than $1,200, ...
9-11 had nothing to do with GWB early years of course and he was that person who made all of those bad loans also
- Thread starter
- #70
now here you go again saying that a group that holds 33% of the power in Washington is dictating policy
- Thread starter
- #71
stupid people loaned stupid people wealth that was inflated
as Apple was 700 a share last year it was also 380 a share this year
so ones wealth goes from A to B and GWB had nothing to with that
it is that simple
Every loan that went bad was a 100% NINA loan? No, I dont think so.
Your ignorance is showing.
- Thread starter
- #74
It amazes me that me keeping more of my wealth is a bad thing and is the cause for these trillion dollar deficts
The economy is better todaythan it was in January, 2009. This is a fact. Celebrate the good news, nutters. Urge your representatives to work toward making things better...regardless of who occupies the WH.
Be Americans who root for America to succeed. It will feel good. I promise.
17 trillion debt reasons your full of shit..... and 47 million on welfare reasons your full of shit.....
- Thread starter
- #76
The economy is better today
Be Americans who root for America to succeed. It will feel good. I promise.
17 trillion debt reasons your full of shit..... and 47 million on welfare reasons your full of shit.....
Census: 49% of Americans Get Gov?t Benefits; 82M in Households on Medicaid | CNS News
49% on the govt nickel and things are good?
we spent 162 billion more than we brought in with the last GOP budget, 2007
by 2009 that number was over 1.3 trillion
UE from the 80s to 08 was around 5% with a couple of 6-7% years and some 4% years
It is, well in reality somewhere between 7-12%
I think U6 is at 14 now
U6 Unemployment Rate | MacroTrends
with 90 million not included
Dragonlady
Designing Woman
W's entire presidency was an economic clusterfuck of multiple bad ideas that taken in total, destroyed the US economy and created this recession. Reagan had the good sense to realize his tax cuts hadn't worked and late in his second term signed the biggest tax bill in US history but not W. Bush and his buddies were too busy outsourcing government to Haliburton and other companies owned by members of the administration and robbing the treasury.
Wall Street greed also contributed. With a corrupt administration leading the way, everybody was out for what they could get. Corporations outsourced American manufacturing to Third World countries and pocketed huge profits. No thought was given to reports of slave labour, child labour, or health or safety conditions coming out of those countries. Loss of jobs in the US was blamed on union demands and excessive regulations but it was greed. The price of goods sold didn't go down because costs were cut. The corporations simply increased profits to historic levels and Wall Street cheered.
Earned income credits which Bush enshrined in the tax code were in answer to those who wanted the minimum wage in the US increased. In other words, they were a subsidy to big business to keep wages in the service industry as low as possible. Now conservatives rail that 47% of Americans pay no tax and these people are "takers".
In order to buy the votes of retires, W came up with Medicare Part D - a huge boon to the elderly, but completely unfunded. Adding to the deficit. He kept his wars off the books to hide those expenses and the American people had no idea how large the deficit truly was.
Huge increases in military spending helped fuel job creation. There were so many soldiers deployed overseas that members of the reserves were called into active service and shipped to Iraq.
When home ownership fell to the lowest levels in years due to the erosion of disposable income for the working class, the solution wasn't to raise working class wages, but rather to artificially lower interest rates and, as has already been explained, this lead to the housing bubble.
Bush and his buddies were too busy lining their pockets with taxpayers' money to know or care what the long term effects of these policies would be. They were getting richer and corporations were getting richer. That was all that mattered.
It all came crashing down in the run up to the 2008 elections. When Obama took over, the economy was in free fall, jobs were being lost in unprecedented numbers and banking institutions were failing left and right.
There was never going to be a quick fix to this mess. And no matter what Obama and the Democrats were able to do, this train wreck was never going to turn around quick enough to satisfy the American public. Jobs losses continued unabated through the first two years of Obama's presidency as consumers just stopped spending, banks stopped lending, corporations stopped hiring, and housing prices were in the toilet.
Republicans made no secret of their intentions. They were going to make sure Obama was a one term President. So much for getting the country out of the mess. They filibustered every bill, delayed and obstructed every piece of legislation. And they gerrymandered relentlessly in Republican states. The economy and the American people be damned.
Once they reclaimed Congress in the midterm elections, they blocked every jobs bills proposed by the President. And that continues to this day.
Republicans have been obstructing, delaying and make ridiculous demands, while voting endlessly to repeal the ACA. At every opportunity, they go on TV to complain about Obama and the left wing media. Media Matters found that television appearances by Republicans outnumbered those by Democrats by 3 to 1.
Despite all of their efforts, Obama was re-elected. You can't gerrymander the Presidential election.
And yet Obama hasn't really repudiated the Friedman economic policies that got the US into this mess in the first place. Large corporations and high income earners are still paying much lower effective tax rates than the middle class. He just appointed a Friedman acolyte to head up the Federal reserve. Large service and retail industry corporations are using food stamps and Medicaid to subsidize minimum wages paid to workers.
Unless and until American corporations stop shipping jobs overseas, unemployment will remain high. Until wages for low income workers, which have been losing purchasing power since Reagan came to power, start increasing, the recovery will have little impact on 80% of the American public.
This is W's long term legacy. One that the Republican Party is determined to preserve no matter what the cost.
Wall Street greed also contributed. With a corrupt administration leading the way, everybody was out for what they could get. Corporations outsourced American manufacturing to Third World countries and pocketed huge profits. No thought was given to reports of slave labour, child labour, or health or safety conditions coming out of those countries. Loss of jobs in the US was blamed on union demands and excessive regulations but it was greed. The price of goods sold didn't go down because costs were cut. The corporations simply increased profits to historic levels and Wall Street cheered.
Earned income credits which Bush enshrined in the tax code were in answer to those who wanted the minimum wage in the US increased. In other words, they were a subsidy to big business to keep wages in the service industry as low as possible. Now conservatives rail that 47% of Americans pay no tax and these people are "takers".
In order to buy the votes of retires, W came up with Medicare Part D - a huge boon to the elderly, but completely unfunded. Adding to the deficit. He kept his wars off the books to hide those expenses and the American people had no idea how large the deficit truly was.
Huge increases in military spending helped fuel job creation. There were so many soldiers deployed overseas that members of the reserves were called into active service and shipped to Iraq.
When home ownership fell to the lowest levels in years due to the erosion of disposable income for the working class, the solution wasn't to raise working class wages, but rather to artificially lower interest rates and, as has already been explained, this lead to the housing bubble.
Bush and his buddies were too busy lining their pockets with taxpayers' money to know or care what the long term effects of these policies would be. They were getting richer and corporations were getting richer. That was all that mattered.
It all came crashing down in the run up to the 2008 elections. When Obama took over, the economy was in free fall, jobs were being lost in unprecedented numbers and banking institutions were failing left and right.
There was never going to be a quick fix to this mess. And no matter what Obama and the Democrats were able to do, this train wreck was never going to turn around quick enough to satisfy the American public. Jobs losses continued unabated through the first two years of Obama's presidency as consumers just stopped spending, banks stopped lending, corporations stopped hiring, and housing prices were in the toilet.
Republicans made no secret of their intentions. They were going to make sure Obama was a one term President. So much for getting the country out of the mess. They filibustered every bill, delayed and obstructed every piece of legislation. And they gerrymandered relentlessly in Republican states. The economy and the American people be damned.
Once they reclaimed Congress in the midterm elections, they blocked every jobs bills proposed by the President. And that continues to this day.
Republicans have been obstructing, delaying and make ridiculous demands, while voting endlessly to repeal the ACA. At every opportunity, they go on TV to complain about Obama and the left wing media. Media Matters found that television appearances by Republicans outnumbered those by Democrats by 3 to 1.
Despite all of their efforts, Obama was re-elected. You can't gerrymander the Presidential election.
And yet Obama hasn't really repudiated the Friedman economic policies that got the US into this mess in the first place. Large corporations and high income earners are still paying much lower effective tax rates than the middle class. He just appointed a Friedman acolyte to head up the Federal reserve. Large service and retail industry corporations are using food stamps and Medicaid to subsidize minimum wages paid to workers.
Unless and until American corporations stop shipping jobs overseas, unemployment will remain high. Until wages for low income workers, which have been losing purchasing power since Reagan came to power, start increasing, the recovery will have little impact on 80% of the American public.
This is W's long term legacy. One that the Republican Party is determined to preserve no matter what the cost.
edthecynic
Censored for Cynicism
- Oct 20, 2008
- 43,044
- 6,888
- 1,830
edthecynic
Censored for Cynicism
- Oct 20, 2008
- 43,044
- 6,888
- 1,830
Similar threads
New Topics
-
-
-
Do Komodo Dragons kill by bacteria or Venom? Or???- Started by Robert W
- Replies: 0
-
-
