Posted on 08/12/2009 2:28:32 AM PDT by Scanian
We are in a recession and our President has done something about it. What has he done? Spent well over a trillion dollars of other people's money, all borrowed. How well is that working now and how well have such "fixes" worked in the past?
There is no real indication that our current recession is ending. The NBER dated the beginning of this recession based almost entirely on payrolls, which last peaked in December 2007. Payrolls have declined every single month since then, including the most recent month, July 2009.
In July, payrolls declined by 247,000 jobs. That has been touted as an improvement, since we lost 443,000 jobs in June. However, 247,000 jobs are more than were lost in any of the first eight months of this recession under President Bush. A decline is a decline.
The same can be said for real GDP, which has declined for the last four quarters straight. While it declined less in the most recent quarter than in the previous, it still declined.
In January of 2009, before being sworn into the presidency, Barack Obama made a speech about this recession.
"If nothing is done, this recession could linger for years. The unemployment rate could reach double digits. (His economists more precisely predicted unemployment to peak at 9% without his stimulus, and at 8% with it.)
"That work begins with this plan -- a plan I am confident will save or create at least three million jobs over the next few years.
"There is no doubt that the cost of this plan will be considerable.
"At this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe. Only government can break the vicious cycles that are crippling our economy."
How's his plan working
(Excerpt) Read more at americanthinker.com ...
Employment sinking only eight times faster than Bush’s worst, yep that’s a success!!
Seriously, the Congress needs to cut the porkulus off, now, while 95% has not yet been doled out.
How is his plan working.....NOT!
( How to Fix a Recession ) .... keep goverment out of bussinesses lives, keep goverment out of private peoples lives, make government smaller... make goverment pay it’s bills , cut spending, and stop borrowing...
( How to Fix a Recession ) .... keep goverment out of bussinesses lives, keep goverment out of private peoples lives, make government smaller... make goverment pay it’s bills , cut spending, and stop borrowing...
Second it!
I have been noticing it two the error problem. Heard there was a DOS attack yesterday of the site.
Cut spending, cut taxes.
Don’t they get State run AP reports like Foxnews does?
Report: Economists Say Recession Over, Want Bernanke to Stay
The Journal reports that the experts are overwhelmingly in favor of President Obama asking Bernanke to stay on for another four-year term when his current term ends Jan. 31.
Many companies have been reporting second-quarter earnings results that have beaten expectations despite falling sales, due largely to their aggressive cost cutting.
Don’t they get State run AP reports like Foxnews does?
Report: Economists Say Recession Over, Want Bernanke to Stay
The Journal reports that the experts are overwhelmingly in favor of President Obama asking Bernanke to stay on for another four-year term when his current term ends Jan. 31.
Many companies have been reporting second-quarter earnings results that have beaten expectations despite falling sales, due largely to their aggressive cost cutting.
If the gov. can give free gov. health care, the gov.can take away free gov. health care. Be ware of free gov. health care. YOUR LIFE MAY DEPEND ON IT.
If the gov. can give free gov. health care, the gov.can take away free gov. health care. Be ware of free gov. health care. YOUR LIFE MAY DEPEND ON IT.
Sure did. Goldman Sachs getting their way and nothing more.
I completely agree with the Goldman Sachs part and I have so posted even questioning whether Warren Buffett has improperly profited from his connections in the Obama administration, Paulson, Bernacke and the rest of the gang. It is the "nothing more" part about which I am agnostic and wonder if there is any data or proof one way or the other?
I was a little strong with the “nothing more” part but there is no question that many of the key players in government economic moves in the last year or so look like a G.S. alumni club. Paulson, Summers, Geithner, etc.—it’s a cosiderable list.
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