are we heading towards a recession?

[Deleted member 53821]

28 states are facing a budget shortfall. This could be because of excessive spending or a serious decline in revenue. If it is because of a decline in tax revenue it could signal the beginning of a recession (I wasn't sure we got out of the last one) since less tax revenue indicates less economic activity.

Any thoughts on this?

 

[tyroneweaver]

you ain't seen nothing yet. wait till the baby boomers hit their apex

Obamabots are going into a giant supernova before he leaves office. Hope yur fire insurance is paid up

 

[TemplarKormac]

What do you mean "are we heading into a recession?" We're already in one. Don't let the happy reports and good numbers fool you.

 

[theDoctorisIn]

No, we're not in a "recession", nor are state budget shortfalls indicators of one.

 

[Skylar]

28 states are facing a budget shortfall. This could be because of excessive spending or a serious decline in revenue. If it is because of a decline in tax revenue it could signal the beginning of a recession (I wasn't sure we got out of the last one) since less tax revenue indicates less economic activity.

Any thoughts on this?

Have you checked to see if your 'if' is accurate? And why revenues would be down? For example, if a state cut taxes, it would follow that revenues would be lower. Even without a recession.

 

[TemplarKormac]

No, we're not in a "recession", nor are state budget shortfalls indicators of one.

So what are they indicative of, exactly? Reckless spending has a bad way of hampering economic growth. I'm not here to get into a long, protracted debate over economics. I'm simply here to state a point.

 

[Skylar]

What do you mean "are we heading into a recession?" We're already in one. Don't let the happy reports and good numbers fool you.

Says who?

 

[theDoctorisIn]

No, we're not in a "recession", nor are state budget shortfalls indicators of one.

So what are they indicative of, exactly? Reckless spending has a bad way of hampering economic growth. I'm not here to get into a long, protracted debate over economics. I'm simply here to state a point.

Budget shortfalls can be indicative of many things, but a recession is not one of them.

What "point" are you trying to state?

 

[Skylar]

No, we're not in a "recession", nor are state budget shortfalls indicators of one.

So what are they indicative of, exactly?

Overly optimistic revenue estimates, apparently. Along with tax cuts.

Further complicating the state's financial picture is the phase-in of $226 million in corporate tax cuts approved by the Legislature in 2011. Those cuts are slated to begin in July and are projected to cost the state $100 million in revenue in the first year.

One member of the advisory committee cautioned lawmakers about the corporate tax credit for donations to private-school tuition programs. The popular credit is allowed to grow 20 percent a year.

Georganna Meyer, a former state Department of Revenue official and now a private consultant, said the credit is "bleeding" corporate income-tax collections.

"There needs to be a cap put on this," she said. "It's crazy."

Arizona s financial picture dims

 

[TemplarKormac]

No, we're not in a "recession", nor are state budget shortfalls indicators of one.

So what are they indicative of, exactly? Reckless spending has a bad way of hampering economic growth. I'm not here to get into a long, protracted debate over economics. I'm simply here to state a point.

Budget shortfalls can be indicative of many things, but a recession is not one of them.

What "point" are you trying to state?

I made it in the sentence.

Budget shortfalls are indicative of excessive spending, naturally. Excessive spending puts economies into debt. Debt can drag down the growth and productivity of an economy, hence why recessions happen. I'm not an economic expert, nor do I care to be, but a pattern's a pattern.

 

[Skylar]

No, we're not in a "recession", nor are state budget shortfalls indicators of one.

So what are they indicative of, exactly? Reckless spending has a bad way of hampering economic growth. I'm not here to get into a long, protracted debate over economics. I'm simply here to state a point.

Budget shortfalls can be indicative of many things, but a recession is not one of them.

What "point" are you trying to state?

I made it in the sentence.

Budget shortfalls are indicative of excessive spending, naturally. Excessive spending puts economies into debt. Debt can drag down the growth and productivity of an economy, hence why recessions happen. I'm not an economic expert, nor do I care to be, but a pattern's a pattern.

On what basis do you claim that we're in a recession. And what definition of 'recession' are you using. As its obviously not the classic definition.

 

[Billy000]

No, we're not in a "recession", nor are state budget shortfalls indicators of one.

So what are they indicative of, exactly? Reckless spending has a bad way of hampering economic growth. I'm not here to get into a long, protracted debate over economics. I'm simply here to state a point.

Budget shortfalls can be indicative of many things, but a recession is not one of them.

What "point" are you trying to state?

I made it in the sentence.

Budget shortfalls are indicative of excessive spending, naturally. Excessive spending puts economies into debt. Debt can drag down the growth and productivity of an economy, hence why recessions happen. I'm not an economic expert, nor do I care to be, but a pattern's a pattern.

How do you not understand that cutting taxes creates budget shortfalls?

 

[RoshawnMarkwees]

Weed pullers cite recession definition specifics while disregarding a continually contracting economy, the direct result of Obama energy policy. We have yet to recover from this Obama recession so heading into recession is not really possible.

 

[Skylar]

Weed pullers cite recession definition specifics while disregarding a continually contracting economy, the direct result of Obama energy policy. We have yet to recover from this Obama recession so heading into recession is not really possible.

Who says that the economy is 'continually contracting'? You can't even establish your 'effect'. Let alone factually establish your 'cause'.

Though be aware that we 'weed pullers' require actual evidence. Not simply right wing echo chamber assurances of what 'everybody knows'. As that shit is useless.

 

[Old Rocks]

Oh my, here are the people that gave us the wonderful Bush economy, 500,000 jobs lost a month, for several months, and a market that dropped over half it's value, telling us that someone that has overseen a recovery that now has the market in record territory, and unemployment down to 5.4% is a failure. What absolute liars you silly little twerps are.

 

[RoshawnMarkwees]

Weed pullers cite recession definition specifics while disregarding a continually contracting economy, the direct result of Obama energy policy. We have yet to recover from this Obama recession so heading into recession is not really possible.

Who says that the economy is 'continually contracting'? You can't even establish your 'effect'. Let alone factually establish your 'cause'.

Though be aware that we 'weed pullers' require actual evidence. Not simply right wing echo chamber assurances of what 'everybody knows'. As that shit is useless.

People have less and things cost more. That's about all that you need to know.
Weed pulling infers getting caught up in the weeds of economic nomenclature while ignoring the first sentence of this post.

 

[Skylar]

Weed pullers cite recession definition specifics while disregarding a continually contracting economy, the direct result of Obama energy policy. We have yet to recover from this Obama recession so heading into recession is not really possible.

Who says that the economy is 'continually contracting'? You can't even establish your 'effect'. Let alone factually establish your 'cause'.

Though be aware that we 'weed pullers' require actual evidence. Not simply right wing echo chamber assurances of what 'everybody knows'. As that shit is useless.

People have less and things cost more. That's about all that you need to know.

And how is that the 'economy contracting'. That's what I'd like to know. And you can't even rationally explain. Let alone provide evidence for.

Weed pulling infers getting caught up in the weeds of economic nomenclature while ignoring the first sentence of this post.

Or....you citing you means jack shit. I want evidence. Not your empty assurances and random labels like 'weed pullers'.

Show me. Don't tell me. For the second time...show me the evidence.

I take it that you're not used to actually having to back your claims up.

 

[RoshawnMarkwees]

Weed pullers cite recession definition specifics while disregarding a continually contracting economy, the direct result of Obama energy policy. We have yet to recover from this Obama recession so heading into recession is not really possible.

Who says that the economy is 'continually contracting'? You can't even establish your 'effect'. Let alone factually establish your 'cause'.

Though be aware that we 'weed pullers' require actual evidence. Not simply right wing echo chamber assurances of what 'everybody knows'. As that shit is useless.

People have less and things cost more. That's about all that you need to know.

And how is that the 'economy contracting'. That's what I'd like to know. And you can't even rationally explain. Let alone provide evidence for.

Weed pulling infers getting caught up in the weeds of economic nomenclature while ignoring the first sentence of this post.

Or....you citing you means jack shit. I want evidence. Not your empty assurances and random labels like 'weed pullers'.

Show me. Don't tell me. For the second time...show me the evidence.

I take it that you're not used to actually having to back your claims up.

Why did you disregard my first sentence? People have less and things cost more. Hasn't changed in over six years.

 

[Skylar]

Weed pullers cite recession definition specifics while disregarding a continually contracting economy, the direct result of Obama energy policy. We have yet to recover from this Obama recession so heading into recession is not really possible.

Who says that the economy is 'continually contracting'? You can't even establish your 'effect'. Let alone factually establish your 'cause'.

Though be aware that we 'weed pullers' require actual evidence. Not simply right wing echo chamber assurances of what 'everybody knows'. As that shit is useless.

People have less and things cost more. That's about all that you need to know.

And how is that the 'economy contracting'. That's what I'd like to know. And you can't even rationally explain. Let alone provide evidence for.

Weed pulling infers getting caught up in the weeds of economic nomenclature while ignoring the first sentence of this post.

Or....you citing you means jack shit. I want evidence. Not your empty assurances and random labels like 'weed pullers'.

Show me. Don't tell me. For the second time...show me the evidence.

I take it that you're not used to actually having to back your claims up.

Why did you disregard my first sentence? People have less and things cost more. Hasn't changed in over six years.

I didn't. I quoted you and then asked you how that was the economy 'continually contracting'.

Please note: you still have no answer. You're still dodging the question. You still can't back up anything you've said.

Color me shocked.

 

[occupied]

We are always headed for a recession, it's how Wall Street makes it's easiest money. Things go up, things go down, and the big banks are always positioned to take full advantage of it.