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

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World Bank:Crises
http://www.bbc.co.uk/news/business-13108166
__________________
"The share of Americans who are working is at its lowest level in almost 30 years.The share of the population that is working fell to its lowest level last year since women started entering the workforce in large numbers three decades ago, a USA TODAY analysis finds. Only 45.4% of Americans had jobs in 2010, the lowest rate since 1983 and down from a peak of 49.3% in 2000. Last year, just 66.8% of men had jobs, the lowest on record."
USA Today

When under the pretext of fraternity, the legal code imposes mutual sacrifices on the citizens, human nature is not thereby abrogated. Everyone will then direct his efforts toward contributing little to, and taking much from, the common fund of sacrifices. Now, is it the most unfortunate who gains from this struggle? Certainly not, but rather the most influential and calculating.
Frederic Bastiat

It is popular today to blame capitalism for everything that displeases. Indeed, who is still aware of what he would have to forego if there were no "capitalism?" When great dreams do not come true, capitalism is charged immediately. This may be a proper procedure for party politics, but in Scientific discussion, it should be avoided.
Ludwig von Mises
A Critique of Interventionalism (1929)
 
The Incredible Shrinking Obama
Peter Wehner
April 25 - May 2, 2011, Vol. 16, No. 31

Barack Obama’s budget address last week ranks among the most dishonest and dishonorable presidential speeches in generations. It contained an avalanche of false and misleading statements. It was shallow and bitterly partisan. Yet the speech served a useful purpose: It provided the American people in general, and Republicans in particular, with the basic line of attack President Obama will use between now and the 2012 election.

The White House strategy is clear: argue that Obama wants to restore fiscal balance by raising taxes on “millionaires and billionaires” while those who don’t favor higher taxes on the wealthy are fundamentally unserious. As a political matter, of course, class warfare does not have a particularly successful track record. But, to keep it that way, Republicans need to provide a compelling response to the Obama strategy. Fortunately such a response exists.

Obama’s argument is built on sand. A tax increase on the wealthy would fall far short of the revenues needed to reverse our fiscal trajectory. Our budget problems are significantly worse today than they were in the 1990s. There are not nearly enough wealthy people in the nation to tax in order to tame our debt. If the president wants higher taxes to improve our fiscal imbalance, he will need to embrace a massive middle-class tax increase and/or a value added tax (VAT). But Obama hasn’t shown the slightest preference for that option. It’s pure fiction to pretend that higher taxes on those making more than $200,000 will make much of a dent in our debt, given the size of our long-term spending problem. Obama’s argument isn’t with Republicans. It’s with basic arithmetic.

Republicans need to unmask the philosophy guiding modern liberalism when it comes to taxes. What liberals are interested in isn’t growth so much as egalitarianism and redistribution for its own sake. For many on the left, increasing taxes isn’t about economics as much as morality. They believe taxing the wealthy is a virtue, to the point that they would penalize “the rich” even if that has harmful economic consequences. Recall that during a campaign debate, when asked by Charles Gibson about his support for raising capital gains taxes even if that caused a net revenue loss to the Treasury, Obama sided with tax increases “for purposes of fairness.”

Higher taxes would keep our current welfare state in place for only a little while longer. The entitlement apparatus would remain unsustainable. Tax increases might slightly delay, but could not forestall, a fiscal crack-up. The only thing that can is reconfiguring and restructuring our entitlement programs, most especially Medicare. That is what Paul Ryan’s plan does—and what President Obama’s budget avoids doing.

The point cannot be made often enough: Modern liberalism, as embodied in the Obama presidency, is the defender of the status quo. And the status quo is a road to economic ruin.

It is important for Republicans to put this debate in the right frame. Left unaddressed, our crushing burden of debt will cripple the American economy. Yet the aim of conservatism isn’t simply lower deficits and debt. It’s also limited government and a thriving society. A leviathan state is injurious because of its effect on civic character, because it undermines self-reliance and creates dependency. And this, in turn, results in an enervation of the entrepreneurial spirit that is necessary for innovation and prosperity.

Barack Obama has amassed a dismal economic record as president. (Former senator Phil Gramm points out that if Barack Obama had matched Ronald Reagan’s post-recession recovery rate, 15.7 million more Americans would have jobs.) Obama can’t campaign on his record—so he’s betting his reelection chances on stoking embers of anger and resentment. That’s about all that’s left of hope and change.
 
It's funny that the hardcore right can only c&p opinion pieces when the rest of us post facts in this thread. What a shame.
 
It's funny that the hardcore right can only c&p opinion pieces when the rest of us post facts in this thread. What a shame.

I bet you not a one of them has any porn links in their bookmarks. It's not like they came to a porn/erotica board to talk sex.
 
so was yesterdays bump in the road (on the stock market) a good thing? or is the world waking up to the epic failures called obama?


obama, the cancer to freedom?



My library of porn shit would dwarf your dwarf of a....bwahahahahhaahahahahaa let's not even go there
 
as the world wakes up and realizes that American is unable to afford that obama....

will we go back to the carter years of mortgages @ 21% interest?

if a person you dated went out and racked up $40,000 of debt on a high interest credit card, woudn't you say something to that person? or are you making so much money that 40k is your weekly salary?

obama obama obaamaaaaaaa whataeverrrrrr
 
wheeee cut and paste from Google is such a fun thang!

September 29, 2008 12:20 PM

Bush Administration Adds $4 Trillion To National Debt

Posted by Mark Knoller 27 comments
Share

226
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Mark Knoller is a White House Correspondent for CBS News.

(AP)
With no fanfare and little notice, the national debt has grown by more than $4 trillion during George W. Bush's presidency.

It's the biggest increase under any president in U.S history.

On the day President Bush took office, the national debt stood at $5.727 trillion. The latest number from the Treasury Department shows the national debt now stands at more than $9.849 trillion. That's a 71.9 percent increase on Mr. Bush's watch.

The bailout plan now pending in Congress could add hundreds of billions of dollars to the national debt – though President Bush said this morning he expects that over time, "much if not all" of the bailout money "will be paid back."

But the government is taking no chances. Buried deep in the hundred pages of bailout legislation is a provision that would raise the statutory ceiling on the national debt to $11.315 trillion. It'll be the 7th time the debt limit has been raised during this administration. In fact it was just two months ago, on July 30, that President Bush signed the Housing and Economic Recovery Act, which contained a provision raising the debt ceiling to $10.615 trillion.

Deputy Press Secretary Tony Fratto declined an invitation to comment on the enormous jump in the national debt during Mr. Bush's presidency. He referred me to OMB – the Office of Management and Budget, which tried to make the case that as a percentage of the economy, the national debt is not that big.

In its budget documents in February, OMB estimated that next year's national debt would hit $10.4 trillion – which it said would amount to 69.3 percent of the gross domestic product – the standard measure of the size of the economy.

That's high – but far from an all-time high. After World War II, the national debt soared to over $270 billion – a quaint figure by today's standards. Numerically, it's less than the amount of federal deficit we now run up in a single year. But back in 1946, the Debt amounted to 121.7 percent of the size of the total economy.

By the time Richard Nixon began his second term in 1973, the national debt had grown to $466 billion – though as percentage of GDP, it had fallen to 35.7 percent.

Today, OMB press secretary Corinne Hirsch, renewed the oft-made government argument that reporters should focus on just that part of the national debt that is held by the public – now about $5.6 trillion and not include that portion billed as "intra-governmental holdings" – money the government owes itself – especially the Social Security and Medicare trust funds.

Of course, the government doesn't have that money either. It's been spent.

President Bush made that point himself on April 5, 2005, when he paid a visit to the offices of the Bureau of the Public Debt in Parkersburg, W.Va.

He was shown a white file cabinet with keypad locks on each of its four drawers in which the Social Security Trust Fund is stored. On that day, there was no cash – as he noted in a speech later in the day.

"There is no 'trust fund,' just IOUs that I saw firsthand, that future generations will pay – will pay for either in higher taxes, or reduced benefits, or cuts to other critical government programs," he told an audience at West Virginia University.

The government didn't have the money it owed itself back then – and still doesn't.

A couple of weeks after he took office, President Bush addressed the Republican Congressional Retreat in Williamsburg and declared that his budget "pays down the national debt."

In recent years, President Bush almost never mentions the national debt.
Tags: mark knoller , president bush , national debt , spending
Topics: Field Notes

http://www.cbsnews.com/8301-500803_162-4486228-500803.html

it's that attribution that makes the kick! can't forget that attribution to the cut and paste!!!
 
so just to be clear, under Bush this was unacceptable, but under obama adding trillions to the debt is a good thing?







wheeee cut and paste from Google is such a fun thang!

September 29, 2008 12:20 PM

Bush Administration Adds $4 Trillion To National Debt

Posted by Mark Knoller 27 comments
Share

226
11digg ShareE-mailPrintFont
Mark Knoller is a White House Correspondent for CBS News.

(AP)
With no fanfare and little notice, the national debt has grown by more than $4 trillion during George W. Bush's presidency.

It's the biggest increase under any president in U.S history.

On the day President Bush took office, the national debt stood at $5.727 trillion. The latest number from the Treasury Department shows the national debt now stands at more than $9.849 trillion. That's a 71.9 percent increase on Mr. Bush's watch.

The bailout plan now pending in Congress could add hundreds of billions of dollars to the national debt – though President Bush said this morning he expects that over time, "much if not all" of the bailout money "will be paid back."

But the government is taking no chances. Buried deep in the hundred pages of bailout legislation is a provision that would raise the statutory ceiling on the national debt to $11.315 trillion. It'll be the 7th time the debt limit has been raised during this administration. In fact it was just two months ago, on July 30, that President Bush signed the Housing and Economic Recovery Act, which contained a provision raising the debt ceiling to $10.615 trillion.

Deputy Press Secretary Tony Fratto declined an invitation to comment on the enormous jump in the national debt during Mr. Bush's presidency. He referred me to OMB – the Office of Management and Budget, which tried to make the case that as a percentage of the economy, the national debt is not that big.

In its budget documents in February, OMB estimated that next year's national debt would hit $10.4 trillion – which it said would amount to 69.3 percent of the gross domestic product – the standard measure of the size of the economy.

That's high – but far from an all-time high. After World War II, the national debt soared to over $270 billion – a quaint figure by today's standards. Numerically, it's less than the amount of federal deficit we now run up in a single year. But back in 1946, the Debt amounted to 121.7 percent of the size of the total economy.

By the time Richard Nixon began his second term in 1973, the national debt had grown to $466 billion – though as percentage of GDP, it had fallen to 35.7 percent.

Today, OMB press secretary Corinne Hirsch, renewed the oft-made government argument that reporters should focus on just that part of the national debt that is held by the public – now about $5.6 trillion and not include that portion billed as "intra-governmental holdings" – money the government owes itself – especially the Social Security and Medicare trust funds.

Of course, the government doesn't have that money either. It's been spent.

President Bush made that point himself on April 5, 2005, when he paid a visit to the offices of the Bureau of the Public Debt in Parkersburg, W.Va.

He was shown a white file cabinet with keypad locks on each of its four drawers in which the Social Security Trust Fund is stored. On that day, there was no cash – as he noted in a speech later in the day.

"There is no 'trust fund,' just IOUs that I saw firsthand, that future generations will pay – will pay for either in higher taxes, or reduced benefits, or cuts to other critical government programs," he told an audience at West Virginia University.

The government didn't have the money it owed itself back then – and still doesn't.

A couple of weeks after he took office, President Bush addressed the Republican Congressional Retreat in Williamsburg and declared that his budget "pays down the national debt."

In recent years, President Bush almost never mentions the national debt.
Tags: mark knoller , president bush , national debt , spending
Topics: Field Notes

http://www.cbsnews.com/8301-500803_162-4486228-500803.html

it's that attribution that makes the kick! can't forget that attribution to the cut and paste!!!
 
That's good that you bring up Bush since it now serves as a worthy comparison for people to look at it and say, "I thought he was a big spender," Obama positively makes him look like a piker; what the hell were you people screaming about?

In fact what has Obama done that Georgie did not do only bigger?

Gitmo's open.
He started a new war.
He took on huge debt.
He gave up on civilian trials as a vehicle for Muslim outreach.
At every turn fear is being used to stampeded us into huge bills that no one reds or understands, even after they are passed.
BP, GE, GM all benefitted from crony capitalism and government is chock full of tax cheats who keep demanding that "We, the People." keep ponying up more and more money...

__________________
"It turns out, by the way, that oil rigs today generally don't cause spills. They are technologically very advanced. Even during Katrina, the spills didn't come from the oil rigs, they came from the refineries onshore."
Barack Hussein Obama

"Then why the hell did this president, what was it, two weeks after the spill started, signed another waiver for exactly this kind of deep sea drilling, another waiver for the exact same company!"
Don Imus

"If a mandate was the solution, we can try that to solve homelessness by mandating everybody to buy a house."
Famous "Activist" Constitutional Law Professor Barack Hussein Obama, 2008

Q: You favor an increase in the capital gains tax, saying, “I certainly would not go above what existed under Bill Clinton, which was 28%.” It’s now 15%. That’s almost a doubling if you went to 28%. Bill Clinton dropped the capital gains tax to 20%, then George Bush has taken it down to 15%. And in each instance, when the rate dropped, revenues from the tax increased. And in the 1980s, when the tax was increased to 28%, the revenues went down.
A: What I’ve said is that I would look at raising the capital gains tax for purposes of fairness. The top 50 hedge fund managers made $29 billion last year--$29 billion for 50 individuals. Those who are able to work the stock market and amass huge fortunes on capital gains are paying a lower tax rate than their secretaries. That’s not fair.
Q: But history shows that when you drop the capital gains tax, the revenues go up.
A: Well, that might happen or it might not. It depends on what’s happening on Wall Street and how business is going.
Source: 2008 Philadelphia primary debate, on eve of PA primary Apr 16, 2008

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
Senator Barack Hussein Obama, 2006

We left corporate America, which is a lot of what we're asking young people to do. Don't go into corporate America. You know, become teachers. Work for the community. Be social workers. Be a nurse. Those are the careers that we need, and we're encouraging our young people to do that.
Michelle Obama

"That's not part of his power, but this is part of the whole theory of George Bush that he can make laws as he goes along. I disagree with that. I taught the Constitution for 10 years. I believe in the Constitution and I will obey the Constitution of the United States. We're not going to use signing statements as a way of doing an end-run around Congress...,"
Senator Barack Hussein Obama, 2008
 
but with obama its different....its a breath of fresh air, the winds are changing but in the end, a fart is still a fart no matter how you dress obama up

speaking of politcal leaders from Chicago, didn't they find Mayor Harold in a dress when he died?



That's good that you bring up Bush since it now serves as a worthy comparison for people to look at it and say, "I thought he was a big spender," Obama positively makes him look like a piker; what the hell were you people screaming about?

In fact what has Obama done that Georgie did not do only bigger?

Gitmo's open.
He started a new war.
He took on huge debt.
He gave up on civilian trials as a vehicle for Muslim outreach.
At every turn fear is being used to stampeded us into huge bills that no one reds or understands, even after they are passed.
BP, GE, GM all benefitted from crony capitalism and government is chock full of tax cheats who keep demanding that "We, the People." keep ponying up more and more money...

__________________
"It turns out, by the way, that oil rigs today generally don't cause spills. They are technologically very advanced. Even during Katrina, the spills didn't come from the oil rigs, they came from the refineries onshore."
Barack Hussein Obama

"Then why the hell did this president, what was it, two weeks after the spill started, signed another waiver for exactly this kind of deep sea drilling, another waiver for the exact same company!"
Don Imus

"If a mandate was the solution, we can try that to solve homelessness by mandating everybody to buy a house."
Famous "Activist" Constitutional Law Professor Barack Hussein Obama, 2008

Q: You favor an increase in the capital gains tax, saying, “I certainly would not go above what existed under Bill Clinton, which was 28%.” It’s now 15%. That’s almost a doubling if you went to 28%. Bill Clinton dropped the capital gains tax to 20%, then George Bush has taken it down to 15%. And in each instance, when the rate dropped, revenues from the tax increased. And in the 1980s, when the tax was increased to 28%, the revenues went down.
A: What I’ve said is that I would look at raising the capital gains tax for purposes of fairness. The top 50 hedge fund managers made $29 billion last year--$29 billion for 50 individuals. Those who are able to work the stock market and amass huge fortunes on capital gains are paying a lower tax rate than their secretaries. That’s not fair.
Q: But history shows that when you drop the capital gains tax, the revenues go up.
A: Well, that might happen or it might not. It depends on what’s happening on Wall Street and how business is going.
Source: 2008 Philadelphia primary debate, on eve of PA primary Apr 16, 2008

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
Senator Barack Hussein Obama, 2006

We left corporate America, which is a lot of what we're asking young people to do. Don't go into corporate America. You know, become teachers. Work for the community. Be social workers. Be a nurse. Those are the careers that we need, and we're encouraging our young people to do that.
Michelle Obama

"That's not part of his power, but this is part of the whole theory of George Bush that he can make laws as he goes along. I disagree with that. I taught the Constitution for 10 years. I believe in the Constitution and I will obey the Constitution of the United States. We're not going to use signing statements as a way of doing an end-run around Congress...,"
Senator Barack Hussein Obama, 2008
 
so just to be clear, under Bush this was unacceptable, but under obama adding trillions to the debt is a good thing?

so just to be clear, you ackknkowlegedge in this post that Bush really fucked up the America system and not obama, correct? a fart is still a fart and all that shit
 
but with obama its different....its a breath of fresh air, the winds are changing but in the end, a fart is still a fart no matter how you dress obama up

speaking of politcal leaders from Chicago, didn't they find Mayor Harold in a dress when he died?

it's

Its indicates possession.

Yes, it is a different standard for Obama, the fact that he has changed his opinions 180 degrees only serves to show how much more fit he is to govern than Bush was; de facto proof that he ran to the center and still the racists give him no credit for his grand save of the nation, without him, we'd be Greece, but with less debt...

:kbate:
__________________
I'm Hungary for some French-fried €PIIGS!
A_J, the Incredulous
 
the problem with possession, is that obama places blame on everyone else

nothing is obama's fault




it's

Its indicates possession.

Yes, it is a different standard for Obama, the fact that he has changed his opinions 180 degrees only serves to show how much more fit he is to govern than Bush was; de facto proof that he ran to the center and still the racists give him no credit for his grand save of the nation, without him, we'd be Greece, but with less debt...

:kbate:
__________________
I'm Hungary for some French-fried €PIIGS!
A_J, the Incredulous
 
[boring right wing c&p mode on]

Unemployment falls in two-thirds of states

Link

Article:

WASHINGTON — WASHINGTON (AP) - The unemployment rate fell in two-thirds of the nation's states last month, the latest evidence that the strengthening economy is encouraging many employers to boost hiring.

The Labor Department says the unemployment rate dropped in 34 states in March. That's the largest number of states to record a decline since June. The rate rose in seven states and was unchanged in nine and Washington, D.C.

Employers hired more workers in 38 states. A government survey of employer payrolls finds only 12 states plus Washington, D.C. lost jobs last month, the fewest since October.

Nationally, the unemployment rate fell in March to a two-year low of 8.8 percent, and private employers added more than 200,000 jobs for the second consecutive month.

Read more: http://www.vcstar.com/news/2011/apr/19/unemployment-falls-in-two-thirds-of-states/#ixzz1Jz92eD5P
- vcstar.com

[boring right wing c&p mode off]
 
Lockheed Martin creating 350 jobs in Mississippi

Link

Article:

JACKSON, Miss. (AP) - Lockheed Martin Corp. says it will open a technology support center this September in the Jackson suburb of Clinton, Miss., creating 350 new jobs.

Emily Simone, spokeswoman for the Bethesda, Md.-based company, tells The Associated Press on Tuesday that the mission support center will serve all of Lockheed Martin's federal customers.

Lockheed Martin will put the center in part of the former corporate headquarters of WorldCom, the telecommunications company that went into bankruptcy in 2002. The former WorldCom campus, with several buildings, is now called the South Pointe Business Park and is just off Interstate 20.

Read more: http://www.vcstar.com/news/2011/apr...ays-it-will-create-350-jobs-in/#ixzz1JzCJ74xE
- vcstar.com
 
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