Posted on 10/11/2009 3:27:01 PM PDT by combat_boots
We were promised one, you know.
Dennis Kneale, Larry Kudlow, hell, name a "mouthpiece" on ToutTV or in the sell-side of Fraud Street and you'll find someone claiming that "the recession is over."
But if it is, how can this be true?
Lockyer’s spoke before Controller John Chiang said state general fund revenue fell $1.1 billion below estimates during the first three months of the fiscal year that began July 1.
Let's boil this down a bit: Sales tax revenues came in at $99.8 million, or 4.5% lower than expected.
Income tax revenues were also off big, but remember that income taxes are (usually) progressive, so a loss in income translates into a larger drop in tax revenues (as an aside this, my friends, is why "tax the rich" only works when the rich are getting richer - when they start to get poorer as a consequence of your redistribution schemes and move down the tax ladder, your income tax receipts collapse!) while sales taxes are a straight percentage of sales, often with the only exception that would skew on an income basis being food.
(Excerpt) Read more at market-ticker.denninger.net ...
I think ACORN and the unions have got it.
Our country needs Reaganomics Part II
You can’t dump two trillion dollars down the toilet and turn that into a “recovery” any more than you can bleed two quarts of fluid from a flu patient and get a recovery.
Elections have consequences, and electing utter incompetents into office has consequences, and centralizing economic power has consequences even if the people at the top are essentially decent and when they are corrupt boobs it can have catastrophic consequences.
We’ve just corkscrewed into the tarmac. This is not what a recovery looks like.
Minnesota Republicans blast stimulus bill
February 12, 2009
http://minnesota.publicradio.org/display/web/2009/02/12/congreact/
“We hear about fantasy football games. This is fantasy economics,” Bachmann said.
“This is an enormous amount of money, and it’s hard for me to look 20 to 25-year-olds in the eye and in good conscience say that this bill will be good to them,” she said. “Because this will link them to certain high tax increases and punishing high tax rates for them on into the future.”
the recession is over. the depression has begun
How that hope and change working out for you young people who voted for the zero?
How that hope and change working out for you young people who voted for the zero?
Aug. 27, 2009 “Detroit jobless rate a record 28.9%” By JOHN GALLAGHER
From Detroit Free Press.
I know that youth unemployment ranges now from 20%-38% (+/-) depending on race. I hadn’t seen the July statistic from Detroit. It must be awful there.
Why do this to your constituencies, 0bama, DNC? Why do this to anyone?
Thanks, Sgt.
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