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Getbig Main Boards => Politics and Political Issues Board => Topic started by: LATS on January 30, 2013, 08:10:40 AM
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I thought the prediction was 3 percent.. I said they were full of crap saying that...
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"PRIVATE SECTOR DOING FINE"
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isn't this due to a drop in government spending? specially war reduction?
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Everything is fine. The stock market is close to 14000. ::)
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I thought the prediction was 3 percent.. I said they were full of crap saying that...
It contracted at .01%
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isn't this due to a drop in government spending? specially war reduction?
I have a nice graph with some good info I will dig up and post..
But, if your assertion is correct doesn't this GDP contraction paint the picture of an economy that is dead, lifeless and not growing without massive amounts of Fed stimulus, deficit spending, inflation and the like? Remember that 800 billion dollar stimulus from a few years back? The "timely targeted and temporary" one? It's been in the budget since the day it was signed.
In my humble opinion those aren't things you want to be depending on to drive your economy. And for fuck-sakes, it's been 6+ years and this is what we are still looking at, this isn't good.
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isn't this due to a drop in government spending? specially war reduction?
FAIL
The govt is not spending less money - they just shifted spending to where Pelosi and Obama said we get the most bang for our buck - food stamps, welfare, UE benwes, etc.
Total and complete fail for Obamanomics AGAIN
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FAIL
The govt is not spending less money - they just shifted spending to where Pelosi and Obama said we get the most bang for our buck - food stamps, welfare, UE benwes, etc.
Total and complete fail for Obamanomics AGAIN
government spending is down, are you serious?
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isn't this due to a drop in government spending? specially war reduction?
Are you referring to the cuts in defense spending the Dems pushed for? Thanks for pointing that out.
I have a nice graph with some good info I will dig up and post..
But, if your assertion is correct doesn't this GDP contraction paint the picture of an economy that is dead, lifeless and not growing without massive amounts of Fed stimulus, deficit spending, inflation and the like? Remember that 800 billion dollar stimulus from a few years back? The "timely targeted and temporary" one? It's been in the budget since the day it was signed.
In my humble opinion those aren't things you want to be depending on to drive your economy. And for fuck-sakes, it's been 6+ years and this is what we are still looking at, this isn't good.
Anyone with a half a brain knew this. America trudges along like Japan has for two decades now.
We can thank Keynesian economics.
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Are you referring to the cuts in defense spending the Dems pushed for? Thanks for pointing that out.
Anyone with a half a brain knew this. America trudges along like Japan has for two decades now.
We can thank Keynesian economics.
Yep.
Trillion dollar deficits, unlimited stimulus, 0% interests rates and all manner of gimmicks don't buy as much as they used to.
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government spending is down, are you serious?
The Federal Govt. borrowed more than 300 billion dollars in the 4th quarter and the GDP print showed contraction and that doesn't even take into account Federal Reserve monetary stimulus.
That isn't good.
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I thought the prediction was 3 percent.. I said they were full of crap saying that...
If a publicly traded company did this all the time, they'd be in trouble. I understand why they do it, but it sucks because there is no accountability ever.
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1) regulations , taxes, and employer-healthcare requirements all put a strain on the economy
2) standard of living is the highest that it has ever been at any place or time in history on earth
3) the economy is pretty much stagnant
4) the quantitative easing and government debt are both factors which are causing uncertainty and may cause long term problems
5) getting our economy to where it can be is more an issue of changing our socio-cultural value system to honor and prioritize qualitative learning and production-based schooling than it is an issue of repealing taxes and changing monetary policy
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White House blames Republican "brinkmanship" for GDP contraction
reuters.com ^ | January 30, 2013 | Mark Felsenthal
Posted on January 30, 2013 9:46:46 PM EST by Tailgunner Joe
The White House on Wednesday blamed the surprising contraction of the economy at the end of last year at least partly on Republican "political brinkmanship" for threatening to let defense cuts take effect.
White House spokesman Jay Carney said similar threats over a looming March 1 deadline when defense and other cuts take effect absent a broader budget deal could similarly hurt the U.S. economy and taxpayers.
"This is political brinkmanship with one primary victim, and that is American taxpayers and the American middle class," Carney said at a briefing.
"Our economy is facing a major headwind ... and that's Republicans in Congress."
Carney referred to comments by former vice presidential candidate and House of Representatives Budget Committee Chairman Paul Ryan, who said Sunday he believes the automatic spending cuts will go into effect because Democrats have not offered alternatives, and remarks made by House Speaker John Boehner.
Boehner said in a January 6 interview that he had the spending cuts "in my back pocket" for use as a bargaining chip in budget talks with the White House.
"It's not a game. It's the American economy," Carney said. "The American people - those who pay attention to this issue in detail - are rightly appalled by those kind of tactics that, you know, do harm to their lives, do harm to the economy in the name of ... achieving some political objectives here in Washington."
(Excerpt) Read more at reuters.com ...
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White House blames Republican "brinkmanship" for GDP contraction
reuters.com ^ | January 30, 2013 | Mark Felsenthal
Posted on January 30, 2013 9:46:46 PM EST by Tailgunner Joe
The White House on Wednesday blamed the surprising contraction of the economy at the end of last year at least partly on Republican "political brinkmanship" for threatening to let defense cuts take effect.
White House spokesman Jay Carney said similar threats over a looming March 1 deadline when defense and other cuts take effect absent a broader budget deal could similarly hurt the U.S. economy and taxpayers.
"This is political brinkmanship with one primary victim, and that is American taxpayers and the American middle class," Carney said at a briefing.
"Our economy is facing a major headwind ... and that's Republicans in Congress."
Carney referred to comments by former vice presidential candidate and House of Representatives Budget Committee Chairman Paul Ryan, who said Sunday he believes the automatic spending cuts will go into effect because Democrats have not offered alternatives, and remarks made by House Speaker John Boehner.
Boehner said in a January 6 interview that he had the spending cuts "in my back pocket" for use as a bargaining chip in budget talks with the White House.
"It's not a game. It's the American economy," Carney said. "The American people - those who pay attention to this issue in detail - are rightly appalled by those kind of tactics that, you know, do harm to their lives, do harm to the economy in the name of ... achieving some political objectives here in Washington."
(Excerpt) Read more at reuters.com ...
wut....
I thought that they were always the ones pushing for cuts in defense spending...
I r confused.
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Anything to spin failure. This is what the leftists always wanted and they got it.
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White House blames Republican "brinkmanship" for GDP contraction
reuters.com ^ | January 30, 2013 | Mark Felsenthal
Posted on January 30, 2013 9:46:46 PM EST by Tailgunner Joe
The White House on Wednesday blamed the surprising contraction of the economy at the end of last year at least partly on Republican "political brinkmanship" for threatening to let defense cuts take effect.
White House spokesman Jay Carney said similar threats over a looming March 1 deadline when defense and other cuts take effect absent a broader budget deal could similarly hurt the U.S. economy and taxpayers.
"This is political brinkmanship with one primary victim, and that is American taxpayers and the American middle class," Carney said at a briefing.
"Our economy is facing a major headwind ... and that's Republicans in Congress."
Carney referred to comments by former vice presidential candidate and House of Representatives Budget Committee Chairman Paul Ryan, who said Sunday he believes the automatic spending cuts will go into effect because Democrats have not offered alternatives, and remarks made by House Speaker John Boehner.
Boehner said in a January 6 interview that he had the spending cuts "in my back pocket" for use as a bargaining chip in budget talks with the White House.
"It's not a game. It's the American economy," Carney said. "The American people - those who pay attention to this issue in detail - are rightly appalled by those kind of tactics that, you know, do harm to their lives, do harm to the economy in the name of ... achieving some political objectives here in Washington."
(Excerpt) Read more at reuters.com ...
The dem are trying to prevent defence cuts?
The world is upside down here..
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WOW.
Five years later and they keep blaming the GOP?
HEHEHEHE!!
But the homos, welfare leeches, baby killers, idiots who need taxpayers to pay for their contraceptives and friends of 11 million criminals will continue to buy it hook, line and sinker.
Their "issues" are more important than the economy.
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(http://3.bp.blogspot.com/_sQPBRF0DJjQ/SqmJEYUSFMI/AAAAAAAAAG4/A0qGKcYY3MA/s400/Liberal%20Math.jpg)
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WOW.
Five years later and they keep blaming the GOP?
HEHEHEHE!!
But the homos, welfare leeches, baby killers, idiots who need taxpayers to pay for their contraceptives and friends of 11 million criminals will continue to buy it hook, line and sinker.
Their "issues" are more important than the economy.
This idea of time and blame is stupid. How long did it take to recover from the great depression? how are other countries doing that faced similar massive recessions? it was and still is because of 5 years ago. The improvement is the key issue, was it handled correctly, I would suggest so based on relative comparisons. Could it be handled better, perhaps, but the economy is going to take a long while to recover and it has done so slowly.
The cause of the issues isn't up for debate, the solution is, without hindsight it's pointless to discuss moving forward. Defense cuts really need to be made, massive ones.
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This idea of time and blame is stupid. How long did it take to recover from the great depression? how are other countries doing that faced similar massive recessions? it was and still is because of 5 years ago. The improvement is the key issue, was it handled correctly, I would suggest so based on relative comparisons. Could it be handled better, perhaps, but the economy is going to take a long while to recover and it has done so slowly.
The cause of the issues isn't up for debate, the solution is, without hindsight it's pointless to discuss moving forward. Defense cuts really need to be made, massive ones.
Worst recovery on record and trillions on trillions in debt an deficit w nothing o show for it. Hope that helps.
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Ya gotta love libs... Blame bush for the first term irregardless of what the issue was.. Second term.? Well can't really keep blaming bush but we will just blame the repubs.. Close enough I guess lol.. Last time I checked the dems had the White House and the senate.. Time to take the blame kids..
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1) republicans after obama got elected in 2008 = "OUR NUMBER ONE PRIORITY IS MAKING OBAMA A ONE TERM PRESIDENT"
2) defecit is caused by spending that was already in place when obama came into office. no matter who was president, the debt would have been sky rocketing unless major cuts or tax increases were enacted.
3) some of obama's policies have been a drag on the economy, but others are very good for the economy. for example, obamacare = drag on economy. increasing availability of student loans = very good for the economy.
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1) republicans after obama got elected in 2008 = "OUR NUMBER ONE PRIORITY IS MAKING OBAMA A ONE TERM PRESIDENT"
2) defecit is caused by spending that was already in place when obama came into office. no matter who was president, the debt would have been sky rocketing unless major cuts or tax increases were enacted.
3) some of obama's policies have been a drag on the economy, but others are very good for the economy. for example, obamacare = drag on economy. increasing availability of student loans = very good for the economy.
Lmfao.
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Lmfao.
Yup its actually funny how destructive the GOP is to the US
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Yup its actually funny how destructive the GOP is to the US
Lmfao. Always blame blame blame anyone but the communist failed messiah.
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3) some of obama's policies have been a drag on the economy, but others are very good for the economy. for example, obamacare = drag on economy. increasing availability of student loans = very good for the economy.
The average student loan amount over just the past 3-4 years has ballooned to almost $29,000 where even just 5 years ago it was only about $17,000 per student.
How did making more home loans available to people work out?
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Lmfao. Always blame blame blame anyone but the communist failed messiah.
They are both share some blame obviously.
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The average student loan amount over just the past 3-4 years has ballooned to almost $29,000 where even just 5 years ago it was only about $17,000 per student.
How did making more home loans available to people work out?
Saddling students with a crushing debt load for the rest of the their lives is certainly good for the economy.
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Obviously student loans can backfire if one doesn't study an economically lucrative field....
On the issue of college debt... ur right... it would be much better for the economy if college was free for everyone who passed the entrance exams and kept up good grades
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Obviously student loans can backfire if one doesn't study an economically lucrative field....
On the issue of college debt... ur right... it would be much better for the economy if college was free for everyone who passed the entrance exams and kept up good grades
Nothing is free, remember that.
I would like to see things revert back to how they were 20-30 years ago when you could go to a decent state school and pay tuition by yourself. Education used to be affordable....and then things changed.
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Valentines Day, Lent and Easter are just right around the corner.
great days for sales.
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Nothing is free, remember that.
I would like to see things revert back to how they were 20-30 years ago when you could go to a decent state school and pay tuition by yourself. Education used to be affordable....and then things changed.
of course not. and I don't support government. so when I talk about these things, im talking talking about using tax payers money.
but since we are already taxing people, already spending their money. we could use that tax money in much more efficient ways. for example, cutting medicare and military spending in half, and funneling all that money into building an educational infrastructure that results in more skilled workers in quantitative fields. more vocational training that trains workers in jobs that already exist. etc.
increasing education is the number one way to improve the economy.
as for going back to how it was 30 years ago when any bachelors degree basically guaranteed you a lifetime of living well and the cost of the degree was reasonable.. .. yeah, that could be nice
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Obviously student loans can backfire if one doesn't study an economically lucrative field....
On the issue of college debt... ur right... it would be much better for the economy if college was free for everyone who passed the entrance exams and kept up good grades
There are no free colleges anywhere in the world, they all get paid for through taxation, you need to remove the word "free" from your vocabulary when discussing topics like this.
Secondly, it doesn't matter what field people study for if there are no jobs available. UE rate for individuals in the 18-25 range is well over 50%. Government subsidization drives costs up, as we saw with the housing bubble, homes became way over valued due to the massive amount of credit being handed out, same goes for college.
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Yup its actually funny how destructive the GOP is to the US
(http://moonbattery.com/dems-blame-gop-1.jpg)
(http://moonbattery.com/dems-blame-gop-2.jpg)
(http://moonbattery.com/dems-blame-gop-3.jpg)
(http://moonbattery.com/dems-blame-gop-4.jpg)
(http://moonbattery.com/dems-blame-gop-5.jpg)
(http://moonbattery.com/dems-blame-gop-6.jpg)
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There are no free colleges anywhere in the world, they all get paid for through taxation, you need to remove the word "free" from your vocabulary when discussing topics like this.
Secondly, it doesn't matter what field people study for if there are no jobs available. UE rate for individuals in the 18-25 range is well over 50%. Government subsidization drives costs up, as we saw with the housing bubble, homes became way over valued due to the massive amount of credit being handed out, same goes for college.
Good post.
Nothing is free and neither are our markets.
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1) republicans after obama got elected in 2008 = "OUR NUMBER ONE PRIORITY IS MAKING OBAMA A ONE TERM PRESIDENT"
2) defecit is caused by spending that was already in place when obama came into office. no matter who was president, the debt would have been sky rocketing unless major cuts or tax increases were enacted.
3) some of obama's policies have been a drag on the economy, but others are very good for the economy. for example, obamacare = drag on economy. increasing availability of student loans = very good for the economy.
Please elaborate on your assertion that the economy has been positively impacted by the increased availability of student loans. Go into as much detail as you would like.
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There are no free colleges anywhere in the world, they all get paid for through taxation, you need to remove the word "free" from your vocabulary when discussing topics like this.
Secondly, it doesn't matter what field people study for if there are no jobs available. UE rate for individuals in the 18-25 range is well over 50%. Government subsidization drives costs up, as we saw with the housing bubble, homes became way over valued due to the massive amount of credit being handed out, same goes for college.
college is free for millions of people. its called scholarships. sometimes people go to school on the back of tax payers (a lot of times), and other times people go to school on the backs of their parents, or charitable organizations, or friends, or by business who wish to employ them.
educating people in the right subjects helps to create jobs. innovation - the main source of job creation - is driven by an educated workforce.
as for government subsidies driving costs up - yes, absolutely.
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Please elaborate on your assertion that the economy has been positively impacted by the increased availability of student loans. Go into as much detail as you would like.
obviously that would be more of a long term asset, producing benefits years from now (and not instantly).
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http://www.zerohedge.com/contributed/2013-01-31/dont-be-fooled-real-4q12-gdp-was-even-worse-014
Hope and change.
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Wait until the bond bubble bursts.
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Obama blames economic contraction on ‘bad decisions’
The Hill ^ | 2/02/13 | Keith Laing
Posted on February 2, 2013 8:58:28 AM EST by Libloather
President Obama blamed the recent contraction of the U.S. economy on “bad decisions in Washington” in his weekly address.
The national economy shrank by 0.1 percent in the fourth quarter of 2012, according to figures released this week by the Commerce Department. The contraction was an unexpected reversal of months of modest economic growth since the end of the recession in mid-2009.
Obama said in his address that the dip was the fault of “bad decisions” being made in Washington.
“We began this year with economists and business leaders saying that we are poised to grow in 2013,” he said. “But this week, we also received the first estimate of America’s economic growth over the last few months. And it reminded us that bad decisions in Washington can get in the way of our economic progress.”
Obama said there were “real signs of progress” in the 2013 economic outlook, citing increases in home prices and car sales.
But he said the unexpected economic contraction showed the wisdom of his “balanced” approached to budget negotiations with Congress.
“We all agree that it’s critical to cut unnecessary spending,” Obama said. “But we can’t just cut our way to prosperity. It hasn’t worked in the past, and it won’t work today. It could slow down our recovery. It could weaken our economy. And it could cost us jobs – now, and in the future."
Obama said if Congress follows his lead on the economic decisions, “2013 can be a year of solid growth, more jobs, and higher wages.
“But that will only happen if we put a stop to self-inflicted wounds in Washington,” he warned.
“Everyone in Washington needs to focus not on politics but on what’s right for the country; on what’s right for you and your families,” Obama continued. “That’s how we’ll get our economy growing faster. That’s how we’ll strengthen our middle class. And that’s how we’ll build a country that rewards the effort and determination of every single American.”
LMFAO!!!!!!