Unemployment hits 10%

  1. You have chosen to ignore posts from macnh1. Show macnh1's posts

    Re: Unemployment hits 10%

    In Response to Re: Unemployment hits 10%:
    [QUOTE]From the WSJ: Employment in the service sector -- the main source of U.S. jobs -- fell 61,000 in October. Business and professional services companies shed 18,000 jobs. Retail trade cut 40,000 jobs and leisure and hospitality employment fell by 37,000. Employment in government was unchanged last month from September. Good to know the govt hasn't shed any jobs. Soon we'll have an economy based on working for the govt. Obama's vision will be realized.
    Posted by 7x4[/QUOTE]

    History tells us that an economy based on working for the government is a recipe for disaster.

    For Dems nothing is more important than control and power.  Failure is just a negative side effect.  Very sad.
     
  2. You have chosen to ignore posts from movingtarget2. Show movingtarget2's posts

    Re: Unemployment hits 10%

    In Response to Re: Unemployment hits 10%:
    [QUOTE]In Response to Re: Unemployment hits 10% : The deficit for fiscal year 2009, which ended Sept. 30, came in at a record $1.42 trillion , more than triple the record set just last year. With no fanfare and little notice, the national debt grew by more than $4 trillion during George W. Bush’s presidency. It’s the biggest increase under any president in U.S history, until Obama!! On the day President Bush took office, the national debt stood at $5.727 trillion. That’s a 71.9 percent increase on Mr. Bush’s watch to $9.849 trillion. Under Obama with just his initiatives in his first 90 days has a projected additional debt of $9 trillion in the next ten years.  This doesn't include Deathcare or Cap and Trade...or anything else!!! The stimulus bill alone is costing us $100 million in interest, daily. These numbers are staggering....Bush was really bad...Obama eclipses him by TRILLIONS!!!!  Obama makes Bush look like an amateur when it comes to spending.
    Posted by macnh1[/QUOTE]

    You're leaving out the 1 trillion Bush spent in FY 09.  So far Obama is on the hook for about 300 billion more than was initially budgeted.  That's the part of the stimulus that has either been spent or is likely to be spent.  Healthcare would add another 100 billion a year.  Would.  But of course, that will be next year at the earliest.  So I really don't understand why some posters here feel the need to continually delude themselves into thinking Obama has doubled or tripled the deficit.  Mind you, I am one who wouldn't mind if he did.  I would have liked to have seen a real stimulus plan instead of one that is executed over 24 months.  I wouldn't mind an abnormal increase in the deficit right now since interest rates are at zero and deflation is the greatest threat to the economy.  Oh, and those that like to complain about the devalued dollar?  A complete red herring, but the only way to get the dollar to rebound is to introduce a bit of inflation into the system.  Guess how that might be done.  In general, any time you can borrow below the long term inflation rate you are actually making money.  Add to that the fact that the capital markets are dryer than a Arabian stream in summer and you get a second very good reason to borrow without restraint.  And then, of course, there is economic malaise.  Every administration since FDR has drank the Keynesian Kool-Aid for one astounding reason.  It works.  The 4th reason is the deflation problem.  So you've got 4 bulletproof reasons, anyone on their own would be enough to drive policy, to borrow more.  And yet the President is not doing it.  Bush signed the FY09 budget and then added another trillion during the year.  Obama has added 300 billion and it has had some undeniable, if marginal, success.  The CBO says healthcare reform has a legitimate shot at actually lowering expenditures above the 100 billion per year the measure would cost.  I can't claim to understand how as it seems rather halfass to me.  So you've got an administration with perfect storm conditions to borrow carte blanche and yet they are not doing it.  Could it be they are feeling political pressure and are afraid to do what they can and ought to?  I mean its not like there are people out there saying Obama's 300 billion in spending looks more like 11 trillion.  Right?
     
  3. You have chosen to ignore posts from movingtarget2. Show movingtarget2's posts

    Re: Unemployment hits 10%

    In Response to Re: Unemployment hits 10%:
    [QUOTE]Highest since Reagan. Obama inherited it.  Reagan didn't.  See how it works?
    Posted by GreginMeffa[/QUOTE]

    I see that Obama has been in office less than a year and enterred office during the peak of the recession.  I see that Reagan was in office for a year before the recession even started and that unemployment peaked 2 and a half years into office.
    But you are right.  Presidents presiding over large recessions earlier in their first termare always re-elected.  Good point.
     
  4. You have chosen to ignore posts from Charles2008. Show Charles2008's posts

    Re: Unemployment hits 10%

    In Response to Re: Unemployment hits 10%:
    [QUOTE]He should have cut spending and cut taxes.....investment in America not government.
    Posted by macnh1[/QUOTE]

    Are you frigg'n out of your mind?  When consumer spending falls $1.5T, AND business credit totally dries out, you want to cut spending? 

    How many businesses would you think would still be in business to actually benefit from any tax cut? 

    I got news to you.  The stimulus bill was only a minimal bill considering how far short money was in circulation. This is exactly how the great depression had started in 29.

    Don't let ideology overcome reasoning. 
     
  5. You have chosen to ignore posts from Charles2008. Show Charles2008's posts

    Re: Unemployment hits 10%

    In Response to Re: Unemployment hits 10%:
    [QUOTE]In Response to Re: Unemployment hits 10% : History tells us that an economy based on working for the government is a recipe for disaster. For Dems nothing is more important than control and power.  Failure is just a negative side effect.  Very sad.
    Posted by macnh1[/QUOTE]


    History also tells us that by sitting on our hands during a severe recession, we end up with a Great Depression.

    You confuse designing a national economic systems with effectively dealing with emergencies.

    Nobody wants the goverment in the business of transportation. Yet, when Katrina hit, you absolutely want them transporting people out of NO. 
     
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