Posted on 04/29/2012 9:36:29 PM PDT by Oldeconomybuyer
The slow start for the economy in 2012 — an annual rate of 2.2 percent in the first three months of the year — is evidence that the recovery is too weak to push joblessness much lower than its current 8.2 percent, and too fragile to withstand the kinds of budget cuts Congressional Republicans are proposing.
A stark divide is developing on the campaign trail. President Obama is centering his agenda on policies to address economic inequality — including more manufacturing jobs and educational opportunities. Mitt Romney is focused on tax cuts for the rich, budget cuts for the poor, and on blaming Mr. Obama for the economic shambles created in the Bush years.
For now, the default policy is to slog on until the end of the year, when lawmakers will be forced to confront the looming federal budget cuts and the simultaneous expiration of the Bush tax cuts, the temporary payroll tax cut and federal unemployment benefits.
The fledgling recovery, beset by lopsided growth, will not be helped by a continuation of high-end Bush tax cuts, nor can the weak economy withstand severe budget cutbacks. Meanwhile, the uncertainty over future policy is yet another harbinger of continued slow growth.
(Excerpt) Read more at nytimes.com ...
Praise Jesus.
Even IF we can right our ship of state, the rest of the world is tumbling around us.
In short; it's a depression, folks, not a recession. The sooner we accept that, the easier it will be to mop up when the contraction is complete.
Even IF we can right our ship of state, the rest of the world is tumbling around us.
In short; it's a depression, folks, not a recession. The sooner we accept that, the easier it will be to mop up when the contraction is complete.
its the democorrupts....
be nice if we could get more people into family centered churches as well...children are a blessing that used to be crowed about but now, they're an inconvenience...
control our energy needs and we'll turn this thing around....eventually...
It was coming, no matter who was in office. It will continue, no matter who is in office. The only thing the next President can do is help us mop up when we finally hit bottom.
Pray to God that person is NOT Obama.
Sure. We hit 2%+ with this current regime. Any normal recovery has at least a couple quarters where growth jumps. With McCain, despite all his weaknesses, would not have a looming threat of massive tax increases, trillions in wasted spending, no Obamacare, and much better housing policies than what we had. We would not have soaring growth long term, but we would have had a normal recovery.
We are basically sitting in the bottom of a huge downturn in the current situation, and that is not something we have experienced until this adminstration jacked up spending and government interference in nearly every sector.
Excellent Scripture, dear brother in Christ, thank you!!!
I think we would of been marginally better, but Europe and the financial sector would still be the issue that it is today.
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