How Much Credit Should Obama Get For The Recovery?

[BasicGreatGuy]

We did we have an economic recovery? I didn't get the memo.

 

[Sundial]

We did we have an economic recovery? I didn't get the memo.

Never have so many been so proud of knowing so little.

 

[Sundial]

 

[TruthSeeker56]

I usually don't either blame or credit presidents for the economic situation. Mainly what happens is beyond their control. But this time I think it may be a little different. Obama's taken some steps some other presidents would be afraid to go. He's taken some political risks, in other words, which appear to be paying off. Should he get more than normal credit for the recovery?

Have you been living in a bubble? Perhaps some sort of wacky parallel universe?

What "recovery" are you referring to? There is NO RECOVERY.

Try emerging from your cave, or your drug-induced haze, or whatever, and take a look around.

This is the most ignorant topic I have seen in a long time.

 

[Listening]

From a website....

The BEA has revised their numbers on GDP growth for 2006-2009. Before they had an average annual real growth rate of +0.0%; now it’s -0.2%. Much of the increase in growth has been due to short-term factors: big increases in government spending, funded by debt, measures designed to stimulate spending, such as the home-buyer’s credit, and the Fed’s pumping trillions of dollars into financial markets.

Government debt levels are high. (Here is Federal debt, here’s state debt.) Most of the states are struggling with budget deficits, and are slashing spending, while at the same time borrowing more, in new ways (e.g. from state pension funds). All of this will lead to continued cuts in spending, increases in taxes, or both until fiscal health is restored, a strong negative for future growth. Remember government spending is about 20% of GDP.

The stock market is expensive. For the S&P 500, the 10 year trailing real price/earnings ratio is 20.41; the dividend yield is 1.8%. The market tends to touch bottom with a dividend yield of 6 to 8%. I expect to see a P/E ratio of around 5.

Consumers are much less interested in spending, and a lot more interested in saving, which we can see both culturally (remember bling?) and in the economic data.

Despite the generosity of the billionaires I mentioned above, the rich seem a lot less interested in taking risks. Fortunes have imploded during the recession. There is strong interest in fear-based investments: US Treasurys, gold, diamonds, art and other collectibles, as a hedge to declines in financial assets and inflation. This is an ill sign for future investment.

*******************

These folks don't see it as a recovery either.

 

[Sundial]

I usually don't either blame or credit presidents for the economic situation. Mainly what happens is beyond their control. But this time I think it may be a little different. Obama's taken some steps some other presidents would be afraid to go. He's taken some political risks, in other words, which appear to be paying off. Should he get more than normal credit for the recovery?

Have you been living in a bubble? Perhaps some sort of wacky parallel universe?

What "recovery" are you referring to? There is NO RECOVERY.

Try emerging from your cave, or your drug-induced haze, or whatever, and take a look around.

This is the most ignorant topic I have seen in a long time.

^^^^^ This is what recovery looks like. Wake up.

 

[Listening]

^^^^^ This is what recovery looks like. Wake up.

Piffle....

Your numbers are way to low to call it a recovery. Please show me anyone but the most ardent of President Obama supporters who call it a good recovery.

Most of what I read utilize terms like slow, disappointing, underwhelming, etc.

 

[Sundial]

^^^^^ This is what recovery looks like. Wake up.

Piffle....

Your numbers are way to low to call it a recovery. Please show me anyone but the most ardent of President Obama supporters who call it a good recovery.

Most of what I read utilize terms like slow, disappointing, underwhelming, etc.

Recovery is what it is; slow, underwhelming or what have you. Whether we should be satisfied with the rate of recovery is another matter. Personally, I think we should not.

What we really need is a jobs bill...

 

[hortysir]

^^^^^ This is what recovery looks like. Wake up.

Piffle....

Your numbers are way to low to call it a recovery. Please show me anyone but the most ardent of President Obama supporters who call it a good recovery.

Most of what I read utilize terms like slow, disappointing, underwhelming, etc.

Recovery is what it is; slow, underwhelming or what have you. Whether we should be satisfied with the rate of recovery is another matter. Personally, I think we should not.

What we really need is a jobs bill...

Tell Harry Reid to pick one, from the mountain of House Bills gathering dust on his desk, and **gasp** VOTE ON IT

 

[Sundial]

Piffle....

Your numbers are way to low to call it a recovery. Please show me anyone but the most ardent of President Obama supporters who call it a good recovery.

Most of what I read utilize terms like slow, disappointing, underwhelming, etc.

Recovery is what it is; slow, underwhelming or what have you. Whether we should be satisfied with the rate of recovery is another matter. Personally, I think we should not.

What we really need is a jobs bill...

Tell Harry Reid to pick one, from the mountain of House Bills gathering dust on his desk, and **gasp** VOTE ON IT

I support this one: Obama's jobs plan faces GOP rejection today.

 

[hortysir]

Recovery is what it is; slow, underwhelming or what have you. Whether we should be satisfied with the rate of recovery is another matter. Personally, I think we should not.

What we really need is a jobs bill...

Tell Harry Reid to pick one, from the mountain of House Bills gathering dust on his desk, and **gasp** VOTE ON IT

I support this one: Obama's jobs plan faces GOP rejection today.

Of course you would.....
Too bad I said a House Bill, though, hunh?!

 

[Oldstyle]

Recovery is what it is; slow, underwhelming or what have you. Whether we should be satisfied with the rate of recovery is another matter. Personally, I think we should not.

What we really need is a jobs bill...

Tell Harry Reid to pick one, from the mountain of House Bills gathering dust on his desk, and **gasp** VOTE ON IT

I support this one: Obama's jobs plan faces GOP rejection today.

So you "support" a re-do of the original stimulus that didn't work while you have no problem with the Senate sitting on bills that the House has given them?

 

[Sundial]

Tell Harry Reid to pick one, from the mountain of House Bills gathering dust on his desk, and **gasp** VOTE ON IT

I support this one: Obama's jobs plan faces GOP rejection today.

Of course you would.....
Too bad I said a House Bill, though, hunh?!

The House has declined to take up Mr. Obama’s jobs package, while Senate Democrats could not muster the 60 votes needed to block a Republican filibuster against either the full $447 billion package or a $35 billion piece providing state aid, mostly for teachers’ pay. With White House support, Senate Democrats have broken the measure into its main parts to force Republicans to take a series of tough votes on proposals, each of which has broad public support, according to polls.

“The American people are with me with this,” Mr. Obama said. “And it’s time for folks running around spending all their time talking about what’s wrong with America to spend some time rolling up their sleeves to help us make it right. There’s nothing wrong in this country that we can’t fix.”

The outcome in the Senate on the infrastructure spending provision, however, is not expected to be any different from the previous two votes.

Mr. Obama’s transportation secretary, Ray LaHood, a former Republican congressman from Illinois, appeared with him at the Key Bridge and then went to the Capitol to meet with lawmakers.

In response to Mr. Obama, House Republicans said the Democratic-controlled Senate should take up some 16 House-passed measures; most would attack federal regulations or spending and would have long-term impact, analysts say, but they would not spur job creation in the coming year or two.

 

[Oldstyle]

I support this one: Obama's jobs plan faces GOP rejection today.

Of course you would.....
Too bad I said a House Bill, though, hunh?!

The House has declined to take up Mr. Obama’s jobs package, while Senate Democrats could not muster the 60 votes needed to block a Republican filibuster against either the full $447 billion package or a $35 billion piece providing state aid, mostly for teachers’ pay. With White House support, Senate Democrats have broken the measure into its main parts to force Republicans to take a series of tough votes on proposals, each of which has broad public support, according to polls.

“The American people are with me with this,” Mr. Obama said. “And it’s time for folks running around spending all their time talking about what’s wrong with America to spend some time rolling up their sleeves to help us make it right. There’s nothing wrong in this country that we can’t fix.”

The outcome in the Senate on the infrastructure spending provision, however, is not expected to be any different from the previous two votes.

Mr. Obama’s transportation secretary, Ray LaHood, a former Republican congressman from Illinois, appeared with him at the Key Bridge and then went to the Capitol to meet with lawmakers.

In response to Mr. Obama, House Republicans said the Democratic-controlled Senate should take up some 16 House-passed measures; most would attack federal regulations or spending and would have long-term impact, analysts say, but they would not spur job creation in the coming year or two.

What I find most amusing, Wry...is that you know as well as I do that President Obama's "Jobs Bill" was never a serious attempt at passing legislation to create jobs...all along it's been a reelection strategy...something to use against the Republicans when they refused to waste billions more of borrowed money on a repeat of the same stimulus plan that failed two years ago.

 

[Sundial]

Tell Harry Reid to pick one, from the mountain of House Bills gathering dust on his desk, and **gasp** VOTE ON IT

I support this one: Obama's jobs plan faces GOP rejection today.

So you "support" a re-do of the original stimulus that didn't work while you have no problem with the Senate sitting on bills that the House has given them?

You guys are complaining about how Obama's not doing enough to improve the economy, while doing everything you can to prevent him from improving the economy.

It's as if you want the economy to suck, but want to avoid responsibility for its sucking.

 

[Oldstyle]

And at the same time as people like you continue to parrot the party line that Republicans are "obstructing" President Obama's plans to fix the economy...Democrats in the Senate are refusing to act on a mounting pile of bills sent to them by the House.

 

[Oldstyle]

I support this one: Obama's jobs plan faces GOP rejection today.

So you "support" a re-do of the original stimulus that didn't work while you have no problem with the Senate sitting on bills that the House has given them?

You guys are complaining about how Obama's not doing enough to improve the economy, while doing everything you can to prevent him from improving the economy.

It's as if you want the economy to suck, but want to avoid responsibility for it's sucking.

I'm afraid the reality here, Sun...is that this President never HAD a real jobs plan. All those promises he made us that he was working on one while he was on vacation? That was all bullshit. What he came back with was a plan that he KNEW wouldn't be passed by either the House or the Senate because it was a repeat of something that already failed.

 

[Oldstyle]

Barack Obama has basically told the people in the Private Sector who are presently out of work that just like two years ago, they are on their own until after the 2012 elections. He's chosen a political strategy he thinks may keep HIM employed over a REAL jobs plan that would put Americans back to work.

 

[Oldstyle]

I support this one: Obama's jobs plan faces GOP rejection today.

So you "support" a re-do of the original stimulus that didn't work while you have no problem with the Senate sitting on bills that the House has given them?

You guys are complaining about how Obama's not doing enough to improve the economy, while doing everything you can to prevent him from improving the economy.

It's as if you want the economy to suck, but want to avoid responsibility for it's sucking.

As for what will improve the economy? Obama won't DO the things that would really improve the economy because those things go counter to his progressive beliefs. We've had almost three years of him "saying" he wants to work with the Republicans on bi-partisan solutions to our economic woes while he refuses to "do" anything that isn't part of his agenda. That growing stack of legislation on Harry Reid's desk is proof of that.

 

[Sundial]

Of course you would.....
Too bad I said a House Bill, though, hunh?!

The House has declined to take up Mr. Obama’s jobs package, while Senate Democrats could not muster the 60 votes needed to block a Republican filibuster against either the full $447 billion package or a $35 billion piece providing state aid, mostly for teachers’ pay. With White House support, Senate Democrats have broken the measure into its main parts to force Republicans to take a series of tough votes on proposals, each of which has broad public support, according to polls.

“The American people are with me with this,” Mr. Obama said. “And it’s time for folks running around spending all their time talking about what’s wrong with America to spend some time rolling up their sleeves to help us make it right. There’s nothing wrong in this country that we can’t fix.”

The outcome in the Senate on the infrastructure spending provision, however, is not expected to be any different from the previous two votes.

Mr. Obama’s transportation secretary, Ray LaHood, a former Republican congressman from Illinois, appeared with him at the Key Bridge and then went to the Capitol to meet with lawmakers.

In response to Mr. Obama, House Republicans said the Democratic-controlled Senate should take up some 16 House-passed measures; most would attack federal regulations or spending and would have long-term impact, analysts say, but they would not spur job creation in the coming year or two.

What I find most amusing, Wry...is that you know as well as I do that President Obama's "Jobs Bill" was never a serious attempt at passing legislation to create jobs...all along it's been a reelection strategy...something to use against the Republicans when they refused to waste billions more of borrowed money on a repeat of the same stimulus plan that failed two years ago.

That the "stimulus plan" "failed" is wishful thinking on your part.

If you do something, and it works, it's unreasonable to say that it failed.