Obama to announce 3 year spending freeze, spectre of Carter?

[slackjawed]

The Second Clinton? The Baseline Scenario

from the article at this link;
"The usually understated Mark Thoma thinks along similar lines (in uncharacteristically not understated tones):

“We get cheap political tricks that are likely to backfire. How will this look, for example, if there’s a double dip recession, or if unemployment follows the dismal path that the administration itself has forecast?"

Obama Scoffed At McCain's Spending Freeze Proposal During Campaign (VIDEO)
from the article;
"Some Democrats scoffed at the idea, calling it the wrong approach during a time of deep economic recession. Republicans depicted it as a political gambit destined to be shot down by a non-compliant Congress."



Which is it, the repeat of a failed Carter wage and price freeze or a wise way to control spending in a hurry, like McCain proposed during the election?

 

[uscitizen]

Wasn't the wage and price freeze Nixon's?

 

[uscitizen]

Nixon Imposes Wage and Price Controls

President Nixon Imposes Wage and Price Controls

August 15, 1971. In a move widely applauded by the public and a fair number of (but by no means all) economists, President Nixon imposed wage and price controls. The 90 day freeze was unprecedented in peacetime, but such drastic measures were thought necessary. Inflation had been raging, exceeding 6% briefly in 1970 and persisting above 4% in 1971. By the prevailing historical standards, such inflation rates were thought to be completely intolerable.

The 90 day freeze turned into nearly 1,000 days of measures known as Phases One, Two, Three, and Four. The initial attempt to dampen inflation by calming inflationary expectations was a monumental failure.

 

[slackjawed]

nixon started it, carter kept it going, yes.
Even milk prices were controlled.

 

[slackjawed]

nixon started it, carter kept it going, yes.
Even milk prices were controlled.

 

[slackjawed]

nixon started it, carter kept it going, yes.
Even milk prices were controlled. Carter expanded it.

 

[uscitizen]

nixon started it, carter kept it going, yes.
Even milk prices were controlled.

Milk prices were controlled until fairly recently.

 

[slackjawed]

dammit- i hit the post button once and look what happened. My cell connection is flaky and kinda fades in and out, when it does come back in it posts these things twice, but 3 times?
dammit!

 

[uscitizen]

The wage and price controls were mostly dismantled by April, 1974. By that time, the U.S. inflation rate had reached double digits.

From my link above.

You mean continued by Ford, Carter became president in 76 I believe.

And yes I rember it only congress got raises.

 

[Emma]

He's out of his ever-lovin' mind.

 

[slackjawed]

I had dairy cattle when carter took office. A year and half after he took office, I slaughtered them as it was costing me more money to feed them than I could make selling milk.
At that time the milk prices were controlled at both the wholesale and the retail levels.
Until recently, milk prices were controlled at the wholesale level.
The price controls were expanded under carter that started with nixon/ford.
My uncle shut down a concrete supply company because it cost more to produce it than he could sell it for under carter.

 

[slackjawed]

The wage and price controls were mostly dismantled by April, 1974. By that time, the U.S. inflation rate had reached double digits.

From my link above.

You mean continued by Ford, Carter became president in 76 I believe.

And yes I rember it only congress got raises.

your likely right, all i remember is losing my cattle, I hated that.

 

[CurveLight]

nixon started it, carter kept it going, yes.
Even milk prices were controlled. Carter expanded it.

Google is your friend. Nixon was about 20 years old when milk got regulated.
Dairy Industry Crushed Innovator Who Bested Price-Control System - washingtonpost.com

 

[uscitizen]

With the concrete company the inflation of material costs and the slowdown in the housing / construction industry because of high interest rates killed that.

 

[theHawk]

The Second Clinton? The Baseline Scenario

from the article at this link;
"The usually understated Mark Thoma thinks along similar lines (in uncharacteristically not understated tones):

“We get cheap political tricks that are likely to backfire. How will this look, for example, if there’s a double dip recession, or if unemployment follows the dismal path that the administration itself has forecast?"

Obama Scoffed At McCain's Spending Freeze Proposal During Campaign (VIDEO)
from the article;
"Some Democrats scoffed at the idea, calling it the wrong approach during a time of deep economic recession. Republicans depicted it as a political gambit destined to be shot down by a non-compliant Congress."



Which is it, the repeat of a failed Carter wage and price freeze or a wise way to control spending in a hurry, like McCain proposed during the election?

Most of the spending the Federal government does should be axed perminately. Everything except the DoD and DoJ.

 

[uscitizen]

The Second Clinton? The Baseline Scenario

from the article at this link;
"The usually understated Mark Thoma thinks along similar lines (in uncharacteristically not understated tones):

“We get cheap political tricks that are likely to backfire. How will this look, for example, if there’s a double dip recession, or if unemployment follows the dismal path that the administration itself has forecast?"

Obama Scoffed At McCain's Spending Freeze Proposal During Campaign (VIDEO)
from the article;
"Some Democrats scoffed at the idea, calling it the wrong approach during a time of deep economic recession. Republicans depicted it as a political gambit destined to be shot down by a non-compliant Congress."



Which is it, the repeat of a failed Carter wage and price freeze or a wise way to control spending in a hurry, like McCain proposed during the election?

Most of the spending the Federal government does should be axed perminately. Everything except the DoD and DoJ.

Yep schools, roads, FDA, etc should be axed.

 

[The Rabbi]

Anyway, Obama is now the Clown in Chief with his latest proposals. Does he really think Americans are this stupid? (Yes, of course he does).
His proposals are just like his proposal to save $100M at the cabinet level. How is that going? It is a gimmick. Just like his proposals on "middle class tax relief." There is no tax relief for anyone in those proposals. Just more of the same.
I can't wait for him to send out WRN (Whip Recession Now) buttons.

 

[jillian]

If he spends money, you complain.

If he doesn't spend money, you complain.

Yet another example of why he shouldn't listen to any of you.

 

[uscitizen]

I would think that the inflation causing increased input costs to dairies and the regulated price of milk is what killed them.
But Carter did not do the milk regulation I think.

 

[The Rabbi]

The Second Clinton? The Baseline Scenario

from the article at this link;
"The usually understated Mark Thoma thinks along similar lines (in uncharacteristically not understated tones):

“We get cheap political tricks that are likely to backfire. How will this look, for example, if there’s a double dip recession, or if unemployment follows the dismal path that the administration itself has forecast?"

Obama Scoffed At McCain's Spending Freeze Proposal During Campaign (VIDEO)
from the article;
"Some Democrats scoffed at the idea, calling it the wrong approach during a time of deep economic recession. Republicans depicted it as a political gambit destined to be shot down by a non-compliant Congress."



Which is it, the repeat of a failed Carter wage and price freeze or a wise way to control spending in a hurry, like McCain proposed during the election?

Most of the spending the Federal government does should be axed perminately. Everything except the DoD and DoJ.

Yep schools, roads, FDA, etc should be axed.

Schools are funded at the local level. Roads are usually funded at the local/state level. FDA should be scaled back massively.
How about: NEA, Agriculture dept, HUD, FhA, VA to name a few.