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

[pete]

The average Bush tax cut for the 1% this year ($66,384) will be greater than the average income of the other 99% ($58,506)

“The super committee failed to grapple with the extraordinarily costly Bush tax cuts for the richest—tax policies that, according to the Congressional Budget Office, cost more in added federal debt than they add in additional economic activity,” explained Jo Comerford, NPP’s Executive Director. Frank Knapp, vice chairman of the American Sustainable Business Council, added in a statement yesterday, “the high-end Bush tax cuts are a big part of the problem – not the solution…It’s obscene to keep slashing infrastructure and services for everybody on Main Street to keep up tax giveaways for millionaires and multinational corporations.”

The Bush tax cuts have done nothing expand the federal debt and give billions in tax breaks to those who needed them least. Past grand bargains when it came to the budget included substantial new revenues, to balance the pain of getting the country’s budget in order. Instead of adopting that approach, the GOP wants to continue lavishing tax breaks onto the 1%, while asking everyone else to sacrifice.

this is hopeless thinking

tax cuts for anyone, 1% or otherwise, don't truly *cost* the government. it's simply revenue that they're not getting in the first place. but of course the way government accounting works, things like "savings" and "revenue" are only made-up words whose definitions are fluid, and altered to suit the agenda du jour.

the bush tax cuts are NOT the problem, not by a long shot. look at it this way: let's say the gov't did actually remove those cuts, let's hypothesize that they even added new taxes on the wealthy. well so what? having money has never been the government's problem. it's not like they'd suddenly have all the answers and be able to fix all the problems if only they had another $100B, or another $500B to spend. the sheet mass of money obama's administration has spent would be enough to sink the entire russian fleet, and where do we stand? 9% unemployment, and stagnant growth.

the u.s. lost our credit rating not because of how much money we had, and not because of who we taxed and who got tax breaks. we lost our triple-A rating because of our spending policies, and given the chance that's what obama would continue to do (when he's not golfing, that is)

 

[unregistered]

 

[islandman]

So the government, when faced with diminished revenue, has no moral responsibility to cut spending accordingly?

Suddenly the government should have morals when it comes to your wallet?

Where was the government's morality when it told the American people that it would bail out corporations, but individuals would be left twisting in the wind?

 

[unregistered]

 

[cjh]

this is hopeless thinking

<snip>

the u.s. lost our credit rating not because of how much money we had, and not because of who we taxed and who got tax breaks. we lost our triple-A rating because of our spending policies, and given the chance that's what obama would continue to do (when he's not golfing, that is)

is that what this says?

http://blogs.wsj.com/marketbeat/2011/08/05/sp-downgrades-u-s-debt-rating-press-release/

 

[unregistered]

 

[pete]

yes, actually

you could read it yourself, and learn something

 

[cjh]

yes, actually

you could read it yourself, and learn something

i see.

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

* * *

The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year’s wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

* * *

Standard & Poor’s takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.’s finances on a sustainable footing.

* * *

Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.

 

[koalabear]

Market surges on S&P posts.

DOW 11,266.94 +9.39


http://data.moneycentral.msn.com/scripts/chrtsrv.dll?Symbol=$us:INDU&width=300&height=200&E1=0&D4=1&Legend=0&AF=2&Banner=5&palette=2&C1=3&E8=1

 

[unregistered]

 

[koalabear]

Dow -25.61

Seems the European debt fears are back.

Stocks fall as Europe's debt fears rattle investors
Italy's borrowing costs reach record levels. Moody's downgrades Hungary's credit rating. US retailers look for a bump from Black Friday sales. Oil prices rise.

 

[unregistered]

 

[IrezumiKiss]

and given the chance that's what obama would continue to do (when he's not golfing, that is)

But when he's playing a pick-up game of basketball, you whiny assholes never give a fuck. Always bitching about the hoity-toity golf games that are only once in a while.

Keep chasing those windmills, Quixote.

 

[busybody..]

Always bitching about the hoity-toity golf games that are only once in a while.

Keep chasing those windmills, Quixote.

once is a while? NIGGER?

ONCE IN A WHILE?


Dumbass NIGGER

 

[busybody..]

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Dow, S&P Log Worst Thanksgiving Week Since 1932.

 

[busybody..]

HEY NIGGER

In April 2010 Obama had already surpassed George W's number of golf outings. As of June 2011 Obama has golfed 75 times as president.

Source(s):

http://www.whitehousedossier.com/2011/06…​

 

[unregistered]

 

[garbage can]

Who's stretching this fucking page???

 

[NeverEndingMe]

So the government, when faced with diminished revenue, has no moral responsibility to cut spending accordingly?

when will ignorant dipshits like UD wake up and realize that the issue is freaking government spending! until they learn how to control themselves...we will always have this problem

 

[eyer]

All part of the UD recovery:


Dow, S&P Log Worst Thanksgiving Week Since 1932

http://www.cnbc.com/id/45435459

"It's very difficult to be long this market because you have so many issues—there's more potential for negative headlines than positive ones."

The day is quite nigh when even the "potential" of any heartening economic news will be past.

Get totally used to the "negative", folks...

...it is, after all, the socialist way of life.

Keep foremost in mind, always, the fiscal balance of the crankshaft of international economics:

The total USSA debt is now almost $54.5 trillion...

...that's $174K per each American, $660K per every American family.

And...

...the total interest the USSA has paid on its debt just this year so far sits at $3.709 trillion right now.

Watch the slow death of American capitalism turn red, right before your patriot eyes:

http://www.usdebtclock.org/

 

[NeverEndingMe]

and do you honestly think that obama is a good president?

But when he's playing a pick-up game of basketball, you whiny assholes never give a fuck. Always bitching about the hoity-toity golf games that are only once in a while.

Keep chasing those windmills, Quixote.

 

[IrezumiKiss]

once is a while? NIGGER?

ONCE IN A WHILE?


Dumbass NIGGER

Gey cocken oyf der vant, putznasher.

http://img.chan4chan.com/img/2009-03-25/1238021399666.jpg

 

[IrezumiKiss]

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Dow, S&P Log Worst Thanksgiving Week Since 1932.

Gey cocken oyf der vant, putznasher.

http://img.chan4chan.com/img/2009-03-25/1238021399666.jpg

 

[NeverEndingMe]

great, so you have never left 3rd grade. when you get a chance to grow up and stop being a child answer my question.

do you feel that the obama is a good president. if yes, why?

this is what Jesus would say to obama supporters.

http://img.chan4chan.com/img/2009-03-25/1238021399666.jpg

 

[IrezumiKiss]

HEY NIGGER

In April 2010 Obama had already surpassed George W's number of golf outings. As of June 2011 Obama has golfed 75 times as president.

Source(s):

http://www.whitehousedossier.com/2011/06…​

Q: Has President Obama taken more vacation time than his predecessors?

A: According to one count, Presidents Ronald Reagan, George H.W. Bush and George W. Bush spent more time on "vacation" during their first year than President Obama did.

http://www.factcheck.org/2010/01/president-obamas-vacation-days/

Gey cocken oyf der vant, putznasher.

http://img.chan4chan.com/img/2009-03-25/1238021399666.jpg