Feb. 17, 2014 is 5th anniversary of Prez Obama’s successful Stimulus Plan

Talking about chutzpah, I gave references accompanied with appropriate graphs & you have given absolutely not one single referenced contention but BS.

Sad.
Best Regards
Lobato1

 

Good thing for that, eh progs? If national debt was a credit card it would have gotten cut by now.

 

The current U3 is ABOVE the projected U3 IF NO STIMULUS WAS UNDERTAKEN.

FAIL!

AEI has the romer-bernstein fraud graph if you need to be reminded just how wrong they were.

Oh, and WELCOME BANNED SOCK. You'll soon join your previous incarnation on my ignore list.

 

Clinton expressed the GOPer talking points very well during the 2012 Dem convention that you are now repeating, see, yeah, sure GOPers left the biggest financial disaster with consequent skyrocketing unemployment since the Great Depression of 1928/29 but see, he hasn't cleaned the mess quick enough.

As for your DOW contentions, it's obvious to anyone but you, that in any recession & in particularly this one with the huge number of unemployment, people stop buying things e.g. cars, houses, yachts, you name it & the DOW reflects these financial crisis or do you think investors keep buying stock in let's say the auto, housing, yacht industries when nobody is buying them????

Best Regards
Lobato1

 

Unfortunately for the Left's revisionist narrative, it was Democrats who forced banks to make loans to people who couldn't afford them. Ironically, it's quite fitting that a Democrat should get stuck with trying to clean up the mess his party made.

Furthermore, I will point out the basic economic principle that taking more money out of people's paychecks leaves them with less money to spend on meals, clothes, cars, houses, yachts, you name it. Only a careless or clueless idiot would raise taxes during an economic downturn, but that's precisely what Obama did. Jobs and the economy have never been his top priority and it shows.

 

That's your personal opinion & it's worthless ( as my personal opinion is for that matter), click on the URL reference that I gave for further enlightenment.

Best Regards
Lobato1

 

That is absolutely not true, banks were rolling those mortgages into huge packages & selling them up the line then when the Bushistas starting raising the interest rate & with 17 increase in 27 months, the ARM shot up >>20% for those with bad credit ratings when previously these guys had been able to afford their mortgages at <3% that the ARM had previously been doing.

Best Regards
Lobato1

 

According the the BLS website unemployment in feb 2009 was 8.3%

 

It's absolutely true. Democrats fully controlled both ends of Pennsylvania Avenue when the CRA passed.

That being said, I don't entirely blame Democrats for what happened - I blame the people who defaulted on their mortgages. During the 2000s I happened to live in an area where the housing market got ridiculously over-heated as flippers and contractors renovated properties and sold them to people at prices I could only laugh at. Nevertheless, instead of waiting till the market returned to realistic levels as I did, there were fools who jumped in with both feet and now many of them are either under water or have defaulted on their mortgages. For those of us who had enough common sense to wait till the madness ended, we got homes at rock bottom prices and mortgages at record low rates.

There's plenty of blame to go around, but the people who bought houses they couldn't afford and defaulted on their mortgages are ultimately responsible for their own actions and the mess their irresponsibility precipitated, IMO. Blaming Democrats and/or Republicans won't get us around that fact.

 

He was referring to the CBO report on the Stimulus, not Obamacare, so your comment about 2.5 million is irrelevant. There are plenty of threads where that's discussed, but the North Korea styled thread title you gave this thread indicates it's about the Stimulus.

 

That's not a bargain at north of a trillion dollars?

 

Japan is a curious country to use as an example of how great debt is. They were supposed to take over the world economically until they had a severe recession due to a real estate crash. Since they read all the same economic books that the White House Economic Advisers read, they embarked on massive infrastructure projects, financed by deficit spending. Well it's been well over 15 years and Japan's economy is still trudging away with anemic growth, just like we are. Nobody is worried about Japan's economy anymore.

I don't get the EU comparison. Which EU country are you talking about?

 

We can look at this red line and this green line all day, but we shouldn't be concerned so much about where this has been and how can I blame the other political part,somehow, etc.. Just realize, it's not the rate of debt as a percentage of GDP, but it is about the amount... 17.5 Trilion.. And that's a number only anyone ever sees get bigger. It's mathematically impossible to borrow your way out of debt. It can't be done. Just ask anybody who's played the ol' balance-transfer game on all their credit cards, just to make only minimum-payments? That's what the government do, in addition to the cash money they magic out of thin air.

The only way to solve the mess is STOP STEALING from the people, stop robbing their money to give away free to your chosen corporations.

But they know this.. That's why they won't solve it.. They'll prop it up as best as they can, and transfer enough real wealth from it, before the USD reaches its inevitable demise.

 

I'm surprised to find out they are even literate !! : ()

 

Fudged numbers of 6.6% because they aren't counting people who left the job market after failing to find work for years.

Here's another whimsical number for you to reflect back on:

National Average Gas price was $1.81 when Bush left office.

 

What a waste. I remember the cavalier smirk :"Well, maybe there weren't as many shovel ready jobs as we expected."

It's amazing that those not versed in rudimentary economics make statements to the tune: "We need more stimulus."

Some will erroneously think: "Wait a minute, X amount of jobs were created".....ya, to the tune of about 400,000 per job.

Also "created" is the wrong term.....breakin windows "creates" jobs.

The auto bail-outs, bank bail-outs, and the giving of mortgages to those of preferred demographics killed the economy.

Is the printing of 85 billion a month the most insane Keynesian stupidity that one could undertake.

 

Didn't you hear? They're the smartest people on the country.

 

I didn't say great, it was to show insolvency is IMPOSSIBLE for a monetary sovereign country.

All of them destroying their own economy through Austerity.

 

There have been several countries that have gone insolvent. In other words, bankrupt and defaulting on their debts. And you think that's impossible???

But you just used the EU as examples of countries that were doing fine with a high public debt... what?

Although parroting talking points can be fun and make you feel smart for a while, when you don't actually know what your talking about it gets found out if someone asks further questions, as I just did.

 

How's that Tea Party austerity working for you?


(fiscal years)
Reagan
Spending increase, 1981-1985: +39.5%.
Total Government employment, 1981-1985: +607,0000

Bush
Spending increase, 2001-2005: +32.7%
Total Government employment, 2001-2005: +603,000

Obama
Spending increase, 2009-2013: -1.89%
Total Government employment, 2009-2013: -667,000

 

The UR 7.8% when Obama took office, and skyrocketing upwards as 700,000 jobs a month were being lost.

Since Jan 2010 we've had 48 straight months of private sector growth with over 8 million additional jobs created.

Sure, I'll call that a success.

 

2002 1.8%
2003 2.8%
2004 3.8%
2005 3.4%
2006 2.7%
2007 1.8%
2008 -0.3%
2009 -2.8%

Average: 1.6%

Pretty much a failure.

- - - Updated - - -

Obama took office in Jan 2009, when it was 7.8%. It jumped to 8.3% in Feb 2009.

http://www.bls.gov/webapps/legacy/cpsatab1.htm

Your source uses not seasonally adjusted numbers and therefore reflects seasonal fluctuations unrelated to the base unemployment rate.

 

According to whom?

- - - Updated - - -

$3.5 trillion has been spent on what same people? Source please.

 

The Republicans controlled Congress from 1995-2006 and the Administration from 2001-2009.

 

They are not monetarily sovereign.

No, I said the EU countries almost all have higher public debt than we do.

........ try again. I'm happy to elaborate for you.

The concept you are missing is monetary sovereignty. A country that issues its own free floating currency can never become insolvent. It is not an opinion, it is a FACT. There is no skirting around it.

Japan, UK, US, Canada, Australia - the are all monetarily sovereign.

The European Union countries are not monetarily sovereign. They do not control the printing press, the ECU does. That is why Greece is bankrupt and Japan is not, despite Japan having much higher public debt. Any questions?