Now let me be clear. The economy's not dead, it's just resting!
Posted on 09/04/2010 10:32:34 AM PDT by Qbert
President Obama on Friday said he has no regrets about describing the last three months as the "Recovery Summer."
"I don't regret the notion that we are moving forward because of the steps that we have taken," Obama said in response to a question after he offered comments on the latest unemployment figures.
The administration described the summer of 2010 as "recovery summer" because a large amount of the 2009 stimulus package was being spent over the summer. But job growth slowed dramatically over the summer amid concerns the economy was moving into a double-dip recession, and Republicans have made fun of the moniker.
The president's remarks came after the Labor Department released jobs data showing unemployment rising from 9.5 to 9.6 percent. The private sector created 67,000 jobs, but overall the economy lost 54,000 jobs.
Those numbers were better than expected, and are easing concerns about a double-dip recession. Still, Republicans argued Friday they fall short of a real recovery.
The administration has held firm that its policies are slowly but surely nursing the economy back to health.
"We are confident we are moving in the right direction but we want to make sure this economy" is getting even stronger, Obama said on Friday.
Obama said he would be offering a new package of ideas on the economy next week.
I think you are correct with one caveat. If the Fed starts printing money or uses some mechanism which amounts to the same thing, we will face Hyper-inflation. If that happens, and I think we are perilously close to just that, all bets are off.
I think this could easily get worse, given the absolute idiocy in control of government and the monetary system as it stands.
Post of the Day Nominee!
You forgot to add in “between the sheets” LOL
“It’s just a flesh wound!”
yea.../wrist
AMEN!!!
These people think they can have some meetings for a week and come up with a brilliant new plan that will save them before November. Boy are we in for it.
I second your AMEN and move for a Hallelujah!
The guy is delusional. Or ignorant. Or an evil socialist genius. Or a ‘Manchurian Candidate.’
I can never decide... *SIGH*
“Obama simply reeks of deperation now.”
He really does.
His nearly trillion dollar stimulus plan fails, and now he’s going to save the day with some last minute patched-together plan (that his advisors probably came up with while he was on his ten day vacation)? Er, no.
“The guy is delusional. Or ignorant. Or an evil socialist genius. Or a ‘Manchurian Candidate.’”
...Or a jackass. (I mean, it *is* their symbol!)
“even if this worked then they are not jobs which will last 40 years, they’re short term jobs to make the numbers look better till the next election.”
Yep.
What’s really frightening to me is how scary the job loss numbers would’ve been this year so far, had they not been able to pad the jobs numbers with the short-term census hiring.
Oh no, what happened? Cantor was just another wet dishrag or...?
His “new” ideas will be the same as the old ones; more government programs that piss away money on make work projects.
...and change
The 400,000 t0 450,000 is actually a 4 week running total. But that number doesn’t tell the whole story as it is a gross number of jobs lost without considering the number of people who got a job and went off unemployment. The net number is more like -20,000 jobs a week.
The Dems bought what they thought was Sugar Daddy with a Stash and all we got was an Uncle REAM-US!
It sounds like he’s going to try his version of a semi-Clinton “turn to the middle” effort and propose some tax cuts, etc. And there will be his usual hefty dose of demagoguery, of course.
But he’s crossed that point of no return: Obamacare, the endless regulations, all the other looming taxes on the horizon, the fact that the Deficit Commission will likely propose many taxes after the elections (and of course possible/probable lame-duck tax shenanigans), the administration’s anti-business vendetta, etc, etc. There’s no way for him to escape what he has wrought.
New ideas??? A Marxist is a Marxist. Shovel all you want but it doesn’t change the fact that all garbage ends up in smoke.
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