CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

[jon_berzerk]

See the full article at Cameron Harris: CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

The Congressional Budget Office is now projecting that the U.S. economy will never achieve full employment during the eight years Barack Obama serves as president.

If this holds, that would make Barack Obama the only president since World War II who never presided over a year in which the U.S. economy offered full employment to the American people.

The CBO's definition of "full employment" is when the national unemployment rate is at or below what is called the "natural unemployment rate." The natural unemployment rate is the rate of unemployment that is caused by all sources except fluctuations in aggregate demand.


SEE THE FULL ARTICLE AT Cameron Harris: CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

apparently he set another record

--LOL

the list is getting long

the first to be downgraded not once (which is a record in of itself)

but twice

 

[Antares]

You'd blame Boooosh for your toilet backing up, its just how you are.

You aren't interested in the facts at all....like a 12 year old its all about it being someone else's "fault".

I blame Bush for creating the worst recession since WWII

Look......Republican fuck-ups don't fix easy

Look at the Great Depression

 

[Soggy in NOLA]

I blame Bush for creating the worst recession since WWII

Look......Republican fuck-ups don't fix easy

Look at the Great Depression

I hear Bush traveled back in time and actually caused everything from the collapse of Rome to the Great Depression!!! True story!!!!

 

[JakeStarkey]

Been six years and we are STILL suffering from those neo-con and social traditionalist assholes' megalomania that nearly destroyed our country.

Obama should have done much better than so far, but it is what it is.

We lost in 2012 because (1) our reactionaries were screaming and hating and scaring the rest of America so badly they voted against Romney, and (2) the rest of America still had not forgotten the neo-con GOP debacle.

That is how bad the GOP screwed it up.

If Nancy Pelosi and Harry Reed didn't waste all those months trying to push Obamacare, they might have found themselves in a better position to talk about job growth. They made their bed and chose their priority, which is their ideology dream list over the needs of the American people. Had they been serious about putting Americans back to work, instead of growing government, Nancy Pelosi might still have her job. Didn't take long for the Republicans under Clinton to turn this economy around. Maybe Obama should have been taking notes instead of roaming the country? Of course throw in Nancy Pelosi as speaker, add enforcement of (CRA) Community Reinvestment Act on banks, liberal democrats blocking any oversight investigation into Fannie Mae and Freddie Mac financial woes, and the whole economy goes to pot. As the left often forgets who has been in control of Congress back in 2006.

Some good points, yes, but you can't escape that the FMs were done on the R epublican watch: can't escape that at all.

We got hammered in 2008 and 2012, in part, because Americans have not forgotten the Bush horrors.

If we don't get smart, we will be hammered in 2014 againl, and could lose the House to the Dems.

 

[Mad Scientist]

It's not the President's job to ensure full employment, that's one of the Federal Reserve's Mandates.

 

[Dugdale_Jukes]

After The Bush League crashed and burned credit-fueled voodoo economics ahead of schedule the only possible method of avoiding a prolonged jobs recession was an income tax holiday on incomes below some number around $50k for individuals (people who tend not to save but rather spend their income). Instead Obama pissed more money down the drain than that would have cost, paying the stimulus to the stupidest money managers in the history of western cultures, US state and local governments.

When Obama aped Bush's bailouts and KEPT BAD DEBT ON THE BOOKS then announced a fundamentally supply side stimulus instead of creating strong retail demand by getting CASH to main street, it was crystal clear to any number of us this was going to last until 2017-2020 AT MINIMUM.

The CBO didn't figure this out. It has been known since the spring of 2009 by people who know what they are looking at in real time.

 

[Sallow]

See the full article at Cameron Harris: CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

The Congressional Budget Office is now projecting that the U.S. economy will never achieve full employment during the eight years Barack Obama serves as president.

If this holds, that would make Barack Obama the only president since World War II who never presided over a year in which the U.S. economy offered full employment to the American people.

The CBO's definition of "full employment" is when the national unemployment rate is at or below what is called the "natural unemployment rate." The natural unemployment rate is the rate of unemployment that is caused by all sources except fluctuations in aggregate demand.


SEE THE FULL ARTICLE AT Cameron Harris: CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

Reagan had the same numbers, basically.

Then he started spending on defense and civil employees like crazy.

Worked like a charm.

Those options are not available to Obama..until at least 2014.

 

[Mr. Shaman]

lol no it's not obummers fault, nothing is, boooooosssssshhhhh did it!!

January 13, 2008​

"The recession-deniers were muzzled by a horrendous last two weeks of December, and the gloom-and-doomers are now out in force. Their key arguments:

* Plummeting housing will now drag down the rest of the economy.

*The "bad debt" problem is not just "sub-prime" folks who should never have have taken out mortgages in the first place. It includes credit card debt, "high quality" mortgages, car loans, and other leverage that have recently become a consumer way of life.

*Pressure on consumers is leading to a reduction in consumer spending (70% of economy), which, in turn, will lead to a reduction in spending by companies that sell stuff to consumers.

*The question now is not "will there be a recession?" but "how bad will it get?"

*The most optimistic forecasts in a NYT gloom-and-doom round-up are for three crappy quarters, regardless of what the Fed does. Less optimistic forecasts suggest that we are, well, screwed.

After blowing the last downturn, we've been worried this one since last summer. We also suspect that, given the importance of housing to the economy and debt to consumer spending, the recession will be deeper and more prolonged than people think."

"U.S. Economy Screwed"​

 

[editec]

The basic premise of this thread is wrong.

What's to debate?

 

[BlindBoo]

So Bush fucking up the economy and the Republican obstructionism throughout the Obama Presidency worked out really well for Republicans last election. Good luck in 2014

 

[g5000]

See the full article at Cameron Harris: CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

The Congressional Budget Office is now projecting that the U.S. economy will never achieve full employment during the eight years Barack Obama serves as president.

If this holds, that would make Barack Obama the only president since World War II who never presided over a year in which the U.S. economy offered full employment to the American people.

The CBO's definition of "full employment" is when the national unemployment rate is at or below what is called the "natural unemployment rate." The natural unemployment rate is the rate of unemployment that is caused by all sources except fluctuations in aggregate demand.


SEE THE FULL ARTICLE AT Cameron Harris: CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

FDR wouldn't have if he had not served four terms.

Just goes to show how bad a basket of shit was handed off to Obama by Bush. You really have to fuck up pretty badly to put our country back 80 years economically.