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Unemployment back up above 9%; new job numbers down

Discussion in 'Sports and News' started by Freelance Hack, Jun 3, 2011.

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  1. dixiehack

    dixiehack Well-Known Member

    God I love pushing buttons.
     
    dixiehack, Jun 3, 2011
    #13
  2. Starman

    Starman Well-Known Member

    But Reagan balanced the budget!! Everybody says so!!
     
    Starman, Jun 3, 2011
    #14
  3. JonnyD

    JonnyD Member

    And as we should have learned by now, you have to have the nerve to recognize when the good times have come and it's time to take your foot off the gas. This isn't 2007-2008 anymore. The economy is growing.

    Everyone talks a good game about "Deficit spending to stave off depression, then make it up once the economy starts growing again." But then when the economy grows but we aren't rolling in wealth like we'd like, we can't bring ourselves to slow down.
     
    JonnyD, Jun 3, 2011
    #15
  4. JonnyD

    JonnyD Member

    Unfortunately, our debt is not locked in at a fixed rate for 30 years.
     
    JonnyD, Jun 3, 2011
    #16
  5. Baron Scicluna

    Baron Scicluna Well-Known Member

    And they forget about what happened to the GOP the last time there wasn't a government safety net.

    The GOP didn't win the White House for 20 years.
     
    Baron Scicluna, Jun 3, 2011
    #17
  6. BTExpress

    BTExpress Well-Known Member

    Yes, but the only thing that must be paid off on schedule and without fail . . . is interest. And at today's rates, it's a snap.

    Government doesn't start receiving foreclosure notices if it ignores the principal for a couple of months.
     
    BTExpress, Jun 3, 2011
    #18
  7. TigerVols

    TigerVols Well-Known Member

    One thing's for sure...it's high time Mr. Obama send Bill Daley over to Treasury to ask Mr. Geithner to come to the Oval Office. And to bring his playbook with him.

    And I believed that even BEFORE watching last week the HBO movie, Too Big to Fail.
     
    TigerVols, Jun 3, 2011
    #19
  8. JonnyD

    JonnyD Member

    Interest-only loans on a floating rate. I feel like we've been down the perils of those recently, in another context.
     
    JonnyD, Jun 3, 2011
    #20
  9. CarltonBanks

    CarltonBanks New Member

    That, my friends, is called bullshit. You have absolutely ZERO basis for your speculation, other than that's what the government has been trying to sell ever since they voted for that piece of crap, waste of more money than we can comprehend, big labor payoff "stimulus."

    If you want to stimulate the economy you cut taxes and cut government spending. Very simple. Kennedy did it. Obama never will. Cut taxes, give companies incentive to do business and invest and stop the government from doing things their way through throwing money hand over fist at pointless social programs.

    First we were going to spend all this money on "shovel ready" projects, then Obama admits there is no such thing as a "shovel ready" project. WHERE DID ALL THE STIMULUS MONEY GO, then? A gigantic spending bill with no oversight was not the answer, is not the answer now and will never be the answer. Leave it up to private business...give them a reason to produce instead of making them think they are going to be punished for being successful. Stop talking about "spreading the money around to everyone" and let them produce, create jobs and get us out of this hole. Until this happens (probably after 2012 when we vote Obama out) we are going to keep spinning our wheels.

    It's called capitalism.
     
    CarltonBanks, Jun 3, 2011
    #21
  10. king cranium maximus IV

    king cranium maximus IV Active Member

    Yeah, hi, corporate tax rates are a joke. I paid more in taxes than GE did last year. Corporations are rolling in it in the Obama Era. It's just that they aren't hiring.

    Cut taxes? The stimulus was in part tax cuts. Taxes are lower than they were during St. Reagan.
     
    king cranium maximus IV, Jun 3, 2011
    #22
  11. The Big Ragu

    The Big Ragu Moderator Staff Member

    Unemployment would not have been 20 percent without that dopey, rushed spending bill, in which politicians got to hand out wads of cash to their favorite special interests. I love when people say things like that. Not even Paul Krugman, the king of dishonest projections, who thought the spending bill was inadequate, was making bullshit politicized projections like that. In 2009, unemployment was at around 7 percent. According to Krugman, absent spending hundreds of billions, we were going to see 9 percent unemployment over the next 2 years. According to him, with the bill they did spend, unemployment would be at 7.3 percent in 2 years (i.e. around now). Of course he doesn't miss a beat and pretends his "stimulus" scare BS wasn't proven all wrong.

    Unemployment would have been nominally higher and probably would have passed through to some degree by now if they had kept their hands off. This is the unsubstantiated BS we have to deal with. They pushed through a massive spending bill -- where they crammed in everything they would normally love to do, but can't get away with -- under the guise of an emergency. The bill put us into massive debt and on net may have had a harmful effect on the economy, in that it pulled money away from potentially productive, growing areas of the economy in favor of handpicked (i.e. -- pork, special interests) areas favored by politicians and the lobbyists paying them off.

    In the aftermath, all the promises of it "fixing the economy" have been proven to be BS. But what happens now? The rhetoric becomes, "Well, things would have been MUCH worse if not for us."

    How ridiculous. Things ARE much worse because of that bill. Our debt load is out of control and a politically controlled Federal Reserve is trying to inflate away the debt brought on by our politicians. In the course of that debt plus devaluation of the dollar, we have been hit with high unemployment (which was inevitable, but has probably been dragged out) AND inflation.

    As for the last thing you typed, fiscal austerity isn't the problem in Greece or Ireland. Their problem is that they spent on a credit card with no limit for more than a decade and now they have no way out. Austerity is their only option. Austerity sucks, but you can't gorge yourself on a credit card for a decade and expect to just wipe the slate clean without ramifications. Of course we are taking the same course as them, rather than acting prudently. What is heartbreaking is that between the incoherent fiscal and monetary policy, we actually have made the slow economy worse, and brought on inflation on top of it. And it was all easy to see coming, which is what is so maddening.
     
    The Big Ragu, Jun 3, 2011
    #23
  12. king cranium maximus IV

    king cranium maximus IV Active Member

    I will just say that I think this is absolutely incorrect.
     
    king cranium maximus IV, Jun 3, 2011
    #24
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