Liar!!

[poindexter]

http://apnews.myway.com/article/20080204/D8UJP7NO1.html

Here are the highlights from Bush's $3 Trillion Budget Fantasy:

* Models US economy growing 2.7% this year (yeah, right!)
* Doesn't take into account the cost of future entitlement obligations (as usual)
* Doesn't include Iraq/Afghanistan war expenses (as usual)
* Pushes off the problems and tough decisions to the next president (And Mr. Obama is gonna be pissed)
* Requires foreigners to finance our overspending and sea of red ink (as usual)
* Destroys the hopes and dreams of future Americans so that the Baby Boomers can get theirs
http://housingpanic.blogspot.com/

 

[RedSmithClone]

How do you really feel?

 

[BYH]

Assures that dimwits blame the next guy or gal for the great recession.

 

[BitterYoungMatador2]

Cut funding to programs that feed poor people in favor of abstinence programs that don't stop kids from ****ing. Good job.

 

[jgmacg]

Did he prepare the budget on an Etch-a-Sketch? Cool.

 

[Ben_Hecht]

Cut funding to programs that feed poor people in favor of abstinence programs that don't stop kids from ****ing. Good job.

Anything dead-on that pisses off the asshole/busybody/bluenose wing of the GOP is a delight.

Ding.
Ding.
Ding.

 

[Football_Bat]

Did he prepare the budget on an Etch-a-Sketch? Cool.

You took the words right out of my mouth, Meat Loaf.

 

[Italian_Stallion]

You forgot to mention what he did with the Energy Department, which most folks aren't aware of. But I'll break it down in brief form. An alliance called Future Gen, with a guarantee of federal financing, went through a two-year planning stage for a (supposed) environmentally-friendly coal plant that was going to extract carbon from the coal and pump it underground.

Four cities were in the running. Two of them were in Texas. In December, the alliance announced that the plant would be in my hometown. About a week ago, the head of the Energy Department, a Bush appointee with ties to Texas and big oil (of course) canceled the project.

The presumption was that it was a political move penalizing the alliance for not awarding it to Texas. Of course, it also was a thorn in the side of Obama, who's busy on the campaign trail.

Some of the folks in my hometown, which celebrated the announcement of the plant with all sorts of hoots and hollers, are mad as hell. They're calling it one of the nastiest political moves they've ever seen. It's a city that has lost most of its industry. A report a few months ago said that more than 40 percent of the county's population lives below the poverty line.

I could name more than 15 factories that have shut down in the past two decades. The closings have cut about 5,000 jobs, or about one job cut for every four citizens.

The Future Gen plant was the city's way out. It brought hope to an entire community. And, with one swing of the ax, the Bush Administration destroyed it over politics that it claimed was just an adjustment to the budget.

 

[Chi City 81]

Don't forget his plan to cut billions out of domestic spending in order to finance his bull**** war.

 

[D.Sanchez]

Assures that dimwits blame the next guy or gal for the great recession.

Sorta like how the 2000-2001 recession was blamed on Bush.

 

[Ben_Hecht]

Assures that dimwits blame the next guy or gal for the great recession.

Sorta like how the 2000-2001 recession was blamed on Bush.

A small point . . . given the truckloads of fail that can be pinned on Fredo, currently.

 

[alleyallen]

I want to know how much that nifty little display the Shrub was holding cost the taxpayers. That's gotta account for at least, what, .000000001 percent?

 

[Fenian_Bastard]

Burning the house on the way out the door.
Lovely.
And sanchez, we have seven years of hip-deep economic fail to pin on this clown so, yes, he gets the blame for the damage this fake budget does while he's drunk on his ass on his play-ranch in Iexas.

 

[D.Sanchez]

Burning the house on the way out the door.
Lovely.
And sanchez, we have seven years of hip-deep economic fail to pin on this clown so, yes, he gets the blame for the damage this fake budget does while he's drunk on his ass on his play-ranch in Iexas.

http://www.bea.gov/briefrm/gdp.htm

 

[Fenian_Bastard]

If you don't count the wars, and all the loans to China, and 45 million people who'll go broke if the kid gets pneumonia, and the subprime debacle, and the loss of a major American city, yeah, that chart looks really ****ing good.

 

[poindexter]

Sanchez, explain for the layman what we are seeing with that chart.

 

[D.Sanchez]

Sanchez, explain for the layman what we are seeing with that chart.

Percent change in GDP by quarter since Bush took office. Click on the link to see a clearer view.

http://www.bea.gov/briefrm/gdp.htm

 

[Ben_Hecht]

We have the clearer view . . .

Something that's an utterly-foreign concept to Fredo, ever since his long-ago
descent into Jack Daniels Land . . .

 

[poindexter]

Percent change in GDP by quarter

For the layman, can you please explain exactly what that means?

 

[poindexter]

Percent change in GDP by quarter

For the layman, can you please explain exactly what that means?

If Sanchez won't, I will.


Expenditure Approach to Calculating GDP

The expenditure approach calculates GDP by summing the four possible types of expenditures as follows:
GDP = Consumption
+ Investment
+ Government Purchases
+ Net Exports

Consumption is the largest component of the GDP. In the U.S., the largest and most stable component of consumption is services. Consumption is calculated by adding durable and non-durable goods and services expenditures. It is unaffected by the estimated value of imported goods.

Investment includes investment in fixed assets and increases in inventory.

Government purchases are equal to the government expenditures less government transfer payments (welfare, unemployment payouts, etc.)

Net exports are exports minus imports. Imports are subtracted since GDP is defined as the output of the domestic economy.

So the country has been a big consumer. BFD. No ****, sherlock... I will give you one guess as to what has driven that consumer spending: Debt. Debt by the government (in record numbers). Debt by the the citizens of Idiot Nation (in record numbers). You actually think this is a positive? That our country is spending itself into oblivion, to be owned by the Chinese and Dubai? That the average family has credit card debt approaching $10,000?