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

[Adre]

Vetteman raises the bar for ignorance on a daily basis.

Republicans saw their paychecks increase because of Obama but will look you in the eye and say it never happened. Even on payday when they're looking at their pay stub with more money on it, they'll deny deny deny.

I guess Vetteman does not have a pay stub to look at. But that's no excuse for a blatant lie.

 

[unregistered]

 

[koalabear]

Your ignorance level is world class. Tinkering with the solvency of Social Security for short term political gain has always been a bad idea, especially when the President is already in the process of stealing money from it to pay for his doomed to failure Obama care farce. Let them expire:

http://articles.marketwatch.com/201...830_1_payroll-tax-trust-funds-social-security

BUT, BUT Clinton did it and got credit for balancing the budget!!!!!

 

[mercury14]

Your ignorance level is world class. Tinkering with the solvency of Social Security for short term political gain has always been a bad idea, especially when the President is already in the process of stealing money from it to pay for his doomed to failure Obama care farce. Let them expire:

http://articles.marketwatch.com/201...830_1_payroll-tax-trust-funds-social-security

I don't care if you think the tax cut is a good idea or not, the fact is Obama lowered taxes. You're just lying when you claim he raised them. Not to mention you're moving the goal posts...

 

[phrodeau]

Really.......

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

Stocks recover after koalabear whines loudly enough.

 

[garbage can]

I don't care if you think the tax cut is a good idea or not, the fact is Obama lowered taxes. You're just lying when you claim he raised them. Not to mention you're moving the goal posts...

I thought he raised taxes on tanning salons and companies making medical related equipment.

Not to mention his cigarette tax.

 

[IrezumiKiss]

I guess Vetteman does not have a pay stub to look at. But that's no excuse for a blatant lie.

Stop ganging up on Vette, for chrissake. He pays his gardener a whopping $40 to do his front and back lawns every three or four weeks, after all. That shit's gotta hurt his wallet.

 

[RobDownSouth]

I thought he raised taxes on tanning salons and companies making medical related equipment.

Not to mention his cigarette tax.

Anyone with half a brain knows President Obama was talking about Federal Income Taxes.

But hey, people like you are always going to whine "but...but...tanning salons!"

 

[garbage can]

Anyone with half a brain knows President Obama was talking about Federal Income Taxes.

But hey, people like you are always going to whine "but...but...tanning salons!"

Taxes were mentioned, Dipshit, not income tax.

Did you have a good afternoon nap?..........

 

[unregistered]

 

[mercury14]

I thought he raised taxes on tanning salons and companies making medical related equipment.

Not to mention his cigarette tax.

If a person has a job making 60,000 per year, they have $2,400 more dollars in their pocket after the two years of Obama's payroll tax cut. No amount of cigarettes and tanning will surpass the value of that cut.

 

[mercury14]

No he didn't, he robbed Peter to pay Paul, is all.

Stupid logic. It's a net cut.

If a government policy puts $2400 in your pocket while having you pay $400, would you say you came out ahead or behind?

 

[VaticanAssassin]

If a person has a job making 60,000 per year, they have $2,400 more dollars in their pocket after the two years of Obama's payroll tax cut. No amount of cigarettes and tanning will surpass the value of that cut.

$19 a week!!! Hell yes, let party.

I mean Social Security and doing great and taking money from it makes perfect sense!

 

[Adre]

If a person has a job making 60,000 per year, they have $2,400 more dollars in their pocket after the two years of Obama's payroll tax cut. No amount of cigarettes and tanning will surpass the value of that cut.

Merc, providing accurate dollar amounts is not making things easy for Señor Can and his shit flinging form of debate, you know.

 

[koalabear]

$19 a week!!! Hell yes, let party.

I mean Social Security and doing great and taking money from it makes perfect sense!

You forgot to take out taxes on the $19.00.

 

[garbage can]

If a person has a job making 60,000 per year, they have $2,400 more dollars in their pocket after the two years of Obama's payroll tax cut. No amount of cigarettes and tanning will surpass the value of that cut.

Uhmm, Merc, I only made 1 point....Obama raised taxes.

I did not mention winners or losers.

 

[garbage can]

$19 a week!!! Hell yes, let party.

I mean Social Security and doing great and taking money from it makes perfect sense!

Seems like Merc doesn't mind stealing $19 from the seniors.

 

[unregistered]

 

[garbage can]

What's the ratio to the 600 plus billions he's stealing from Medicare?

Careful, this is a sore point with the Moonies.

They make up the 600+ billion by cutting fraud, waste and abuse.

 

[unregistered]

 

[RobDownSouth]

Uhmm, Merc, I only made 1 point....Obama raised taxes.

I did not mention winners or losers.

Again, he was talking about Federal Income Taxes.

Sorry you're paying more at the tanning salon. Sucks to be you.

 

[richard_daily]

Again, he was talking about Federal Income Taxes.

Sorry you're paying more at the tanning salon. Sucks to be you.

If he wants to save money, I'll take a can of orange spray paint and coat him for a mere $50.

 

[RobDownSouth]

If he wants to save money, I'll take a can of orange spray paint and coat him for a mere $50.

He'll likely take you up on your generous offer.
He could use a touch-up.
http://shechive.files.wordpress.com/2010/02/traced-back-to-oompa-loompa-15.jpg

 

[mercury14]

Seems like Merc doesn't mind stealing $19 from the seniors.

Not one senior lost money because of the cut.

How come tax cuts pay for themselves except when Obama is in office? Then they cost a shit ton of money that we can't afford.

 

[4est_4est_Gump]

Dire State of Affairs in Illinois; Mish Six-Point Proposal

I just finished slogging through a 69 page PDF by the State Budget Crisis Task Force outlining the dire state of affairs in Illinois.

I knew in advance that pension funding is the biggest issue facing Illinois. The task force shows exactly that. Here is a summary.

Pension Funding Levels

Teachers Retirement System (TRS) - 46.1%
State University Employees Retirement System (SURS) - 45.3%
State Employees Retirement System (SERS) - 34.9%
General Assembly Retirement System (GARS) - 20.2%
Judicial Retirement System (JRS) - 31.0%

Those funding levels assume 8% returns going forward, something that is not going to happen. So as bad as the above looks, the true pension underfunding is even worse.

Illinois' infrastructure is in bad shape, and the report has the details.

There were many things in the report that I did not know about including the loopholes that let legislators pretend Illinois' budget is balanced when it's not.

Here is a surprising fact: Illinois has more governmental taxing agencies than any other state including California, a grand total of nearly 7,000 taxing bodies!

Here's a juicy tidbit on infrastructure "Nearly two-thirds of Metra and CTA passenger rail cars were in a marginal state. Nearly half of Metra and CTA train stations were past their useful life, and about one-third of CTA and Pace buses were in the last quarter (or less) of their useful life."

The report finished with "recommendations" but they were broad stroke, budgetary meaningless things like timely reporting, long-term planning, accrual planning, etc.

I am in favor of most of the report recommendations, but they will not solve a single problem.

Here is the scariest single sentence in the report "If the projected deficits were paid for by borrowing, debt service costs would grow to consume all sales tax and income tax collections in just five years."

Illinois is insolvent, but what can be done about it?

Read more at http://globaleconomicanalysis.blogspot.com/#7XuwYuESHzePk7fV.99

Let me guess...

They are too big to fail. Another Democrat-controlled pipe dream...