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What happened to all of the doom and gloom economic threads?

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Jesus, are you trying to take stupidity to Olympic levels?

this is proof, you have no business nor have you ever tried to start a business.


Sean Renaud said:
Yep. It is a fair chunk of money but there is nothing realistic you can do about it. All businesses run fraud and 1.8% is well within the amount that you're supposed to accept and move on.



Yes, you accept 1.8% fraud and simply call it a day. Anything you attempt to do to stop it is probably going to cost more than just ignoring it anyway. That's just the reality of things.

Even if it is your business. It's so obvious most of you have never so much as balanced a checkbook in the past. 1.8% isn't even the Skittles you pick up when the urge hits you. 1.8% is the amount you leave in the couch and don't pick up from tip because you're too lazy to figure out exactly what the tip was supposed to be after dinner.

Yes
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RobDownSouth said:
The Federal Government's inspector general estimates that the total amount of fraud detailed above in the entire food stamp program is a miniscule 1.8%.

Now it seems to me there are three possible courses of action:

  1. Institute massive new government programs to prevent that sort of fraud from happening in the future
  2. Punish the law-abiding 98.2% who do obey the law by doing away with food stamps altogether
  3. Shrug your shoulders and say, well, that's an unfortunate cost of doing business

Personally, I'm leaning towards option 3 here
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Link?:cool:
 
VetteREMF said:
Check this left wing source out:

MONDAY, MAR 15, 2010 05:20 PM PDT
Hipsters on food stamps
They're young, they're broke, and they pay for organic salmon with government subsidies. Got a problem with that?
BY JENNIFER BLEYER

http://www.salon.com/2010/03/16/hipsters_food_stamps_pinched/

Check this out, 3300 PHDs on food stamps:

http://thelastpsychiatrist.com/2012/11/hipsters_on_food_stamps_part_2.html
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You're the best at identifyin' problems, little feller.

Not so good at proposin' solutions....
 
vetteman said:
Solution: Publicly humiliate most of the mofos on it, and hang those who abuse it, after cutting the budget by half. Get the massage clown?
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jeninflorida said:
Jesus, are you trying to take stupidity to Olympic levels?

this is proof, you have no business nor have you ever tried to start a business.
Click to expand...


Your Facebook page says you took a few college classes online at a for-profit internet school. How many businesses have you started using the skills gained from the online degree you never completed?
 
What has Obamanomics brought us?


As much as the president would like to blame our economic ills on the other party, or George Bush or, well, just about anyone, the fact is he’s been at the helm of the ship of state for almost 6 years. So his recent pivot toward addressing economic issues is a bit of a laugh, in reality. For 6 years it simply hasn’t been that important to him. And there’s good reason. His record, as Emily Miller points out, is abysmal:


The economy has never grown much more than by minuscule amounts during the Obama administration. Gross domestic product has grown at an anemic pace since he’s been in the White House, barely sputtering at 1.8 percent in the first quarter of 2013. Unemployment under Mr. Obama has averaged a discouraging 8.8 percent and still tops out at 7.6 percent.

Gas prices are rising again, but Mr. Obama spent a long stretch of these speeches touting the doubling of “clean energy” production on his watch. He claimed to have “saved the auto industry,” but didn’t mention that Detroit has gone bankrupt.

Most absurdly, he cited as a point of pride that “our deficits are falling at the fastest rate in 60 years.” He left out two key points: The congressional Republicans demanded spending cuts for increasing the debt ceiling, and the rate of decrease is high because the deficits themselves have been the largest red ink in U.S. history. Spending was $1.4 trillion more than revenue in 2009 and $1 trillion more in 2012.

The Congressional Budget Office projects a $642 billion deficit for this fiscal year, but that’s mostly because Mr. Obama hiked taxes on Jan. 1 to pay for his spending habits.

Despite years of promises to the contrary, to this point, President Obama and his administration have been economically underwhelming. In fact, they’ve been downright inept. All of the important economic markers that indicate recovery are still down. The recession ended in 2009 and yet we still see unacceptably high unemployment, record debt and very poor economic growth.

Of course, Mr. Obama would tell you, as he has for just about every failure since his presidency began, that it is all everyone else’s fault and if Congress would just cede him king-like powers, he could fix it, jiffy quick.

But it is actually the policies of his administration, Obamanomics, which is a large part of why we continue to bang along the bottom of the recovery as Tim Carney explains:


Obama’s first term, with all its tax hikes, regulations, mandates, subsidies and bailouts, saw stock markets rise, corporate earnings break records and the rich get richer, while median income stagnated and unemployment remained stubbornly high.

The irony? Mr. Obama’s policies have been the main driver of the widening income gap he loves to condemn. Meanwhile that middle class he’s so worried about? Well, here’s what he’s managed to do for them in 6 years:


Median household income has fallen by 5 percent since 2009 — when the recession ended and Obama came into office — as the Wall Street Journal pointed out after Obama’s speech.

And if anyone has ever been a champion of “Voodoo economics”, it would be our President:


Government grows, the wealthy, the big, and the well-connected pull away, and the rest of us struggle.

One reason: Obamanomics leans heavily on trickle-down economics. How does Obama promise to create jobs? With more loan guarantees to sell jumbo jets and more subsidies to make solar panels — taxpayer transfers to the big companies with the best lobbyists, with some crumbs hopefully falling to the working class.

Also, Obama’s regulations crush small businesses, protecting the big guys from competition. This hurts Mom & Pop and would-be entrepreneurs, but it also hurts the working class. New businesses are the engine of job growth, but new business formation has accelerated its decline in the last few years, hitting record lows.

Econ 101 might have helped educate Mr. Obama a bit, but he was more interested in community organizing. The result? Horrific economic policy which has, unsurprisingly, yielded horrific economic results.

The new normal as long as he remains in office.
 
The Government "Revises" 84 Years Of Economic History This Week


Don't like how high debt-to-GDP figures are? Revise 'em. Unhappy at the post-'recovery' growth rates? Revise 'em. Disappointed at the pace of economic improvement in the last decade or two compared to the rest of the world? Revise 'em. This week "we are essentially rewriting economic history" as the BEA is set to revise GDP data from as far back as 1929. The 'adjustments' to account for intangibles (that best known of micro- accounting fudge factors) and as we noted previously in great detail, will increase GDP by around $500 billion. Of course, these changes are defended aggressively (just as the hedonic adjustments to inflation calculations 'make perfect sense') as GDP will now reflect spending on research, development, and copyrights as investment - and reflect pension deficits for the first time (think of all that potential future GDP from massive pension deficits now). With Q2 GDP growth estimates set for a dismal 1.1%, expectations are for the short-term economic data to be revised upwards (and with any luck the great recession never happened at all).

Via WSJ,






US economic history will be rewritten this week, as the most far-reaching methodological changes in years will add the equivalent of a country the size of Belgium to output in the world’s largest economy.


The most important change by the Bureau of Economic Analysis, to be announced on Wednesday, will be to start counting spending on research, development and copyrights as investment, and reflect pension deficits for the first time.


Combined they are expected to add 3 per cent to gross domestic product.


...


“We are carrying these major changes all the way back in time – which for us means to 1929 – so we are essentially rewriting economic history,” Brent Moulton, who manages the national accounts at the Bureau of Economic Analysis.

Which brings up an important question: will government spending on R&D on how to fudge GDP result in the most spectacular Excel circular reference ever created?
 
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