Unemployment rate falls to 8.5% pointing to continued improvement in labor market

They better deflate the value of the dollar before doing this, hopefully with some sort of debt jubilee starting from the bottom 50%, not the top 50%, otherwise we'll just have a Greece/Japan on our hands.

 

Sorry, I don't see your assertion logically following what I wrote.

 

Because if you were to kill those tax cuts, especially on the middle class, without deflating the dollar, will we go into a depression.

Spending will go to negative rates.

 

Baseless opinion.

The folks that mostly benefit from the tax cuts aren't spending it anyway.

Phase it in over time.

 

I spend plenty of money. My taxes would go up about $5k a year. Thats $400/mo.

If you do it slowly I suppose, however I am highly doubtful our politicians know how to do that, or have any will to do it either.

 

There are no Bush tax cuts they are now the Obama tax cuts

 

Raising taxes in a down economy like now will not do what Clinton did in an up economy with the internet tech bubble in full swing

 

The fact we are worse now than January of 2009 shows Obama has failed.

 

If that were the case very few would do it

 

Funny, conservatives said they same thing back in 1993, that the tax increase would ruin the economy.

Could they have been more wrong?

Now conservatives are same the same baseless (*)(*)(*)(*).

"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again"

 

Some people have short memories about what it was like in Jan 2009.


January 2009

Job loss: Worst in 34 years
Employers slashed 598,000 more jobs in January [2009] as unemployment rate climbed to 7.6%.

NEW YORK (CNNMoney.com) -- Employers slashed another 598,000 jobs off of U.S. payrolls in January, taking the unemployment rate up to 7.6%, according to the latest government reading on the nation's battered labor market.

The latest job loss is the worst since December 1974, and brings job losses to 1.8 million in just the last three months, or half of the 3.6 million jobs that have been lost since the beginning of 2008.

http://money.cnn.com/2009/02/06/news/economy/jobs_january/index.htm

Market players were also disappointed by reports that U.S. home prices fell 8.7% year-over-year in November, U.S. housing starts fell 15.5% in December, and weekly initial jobless claims rose 62,000 to 589,000.
http://www.businessweek.com/investor/content/jan2009/pi20090122_192905.htm

On Wednesday, the 30-stock Dow Jones industrial average finished with a loss of 248.42 points, or 2.94%, to 8,200.

http://www.businessweek.com/investor/content/jan2009/pi20090114_103250.htm

598,000 Jobs Shed In Brutal January
Unemployment Hits 7.6% as Downturn Picks Up Steam

The need for progress on those fronts seemed more important than ever yesterday, as the Labor Department announced that conditions worsened more than expected last month. The nation's employers shed 598,000 jobs, the most since 1974, driving the unemployment rate to 7.6 percent from 7.2 percent. If the jobless rate keeps rising at the pace it has for the past two months, it will hit double digits in summer and reach its highest rate since the Great Depression by the fall.

http://www.washingtonpost.com/wp-dyn/content/article/2009/02/06/AR2009020601156.html

GROSS DOMESTIC PRODUCT: FOURTH QUARTER 2008 (PRELIMINARY)
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 6.2 [later revised to 7.0] percent in the fourth quarter of 2008, (that is, from the third quarter to the fourth quarter), according to preliminary estimates released by the Bureau of Economic Analysis.

http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408p.pdf[/QUOTE]

Continued Unemployment Claims at Record High
In the week ending Jan. 24, the advance figure for seasonally adjusted initial claims was 588,000, an increase of 3,000 from the previous week's revised figure of 585,000.

http://www.calculatedriskblog.com/2009/01/continued-unemployment-claims-at-record.html

Only those invested in failure for political purposes would say things are worse now.

 

That IS the mantra. I don't think anybody believes it unless they are predisposed to believe it by decades of trite Romneyisms.

 

Yeah, I can. Jane Harmon (D-Cal) says they were LIED to. Which, of course, they were. Remember Colin Powell at the UN?

 

How is cutting taxes for the wealthy and adding the budget shortfall to middle class kids' tax bill heaven on earth? What kind of gay hell do you come from?

 

If you were the 1%, the Bush years were a golden era. Lowest tax burden in decades, unions denuded of power, the rich got a lot richer.

 

I suppose. When you are the 1%, you can afford to get all ideological.

 

I made more money during Bush than under Clinton and also got to keep more because I was not over taxed like under Clinton

 

Continued Unemployment Claims at Record High
In the week ending Jan. 24, the advance figure for seasonally adjusted initial claims was 588,000, an increase of 3,000 from the previous week's revised figure of 585,000.

http://www.calculatedriskblog.com/2009/01/continued-unemployment-claims-at-record.html

Only those invested in failure for political purposes would say things are worse now.[/QUOTE]

Many forget that under Obama it went up to 10% even with the stimulus that did not work

 

Which means Bush was lied to

 

First cuts for the rich is a lie. All that paid taxes got a cut. Those tax cuts are now the Obama tax cuts

 

Right wing mythology.

Tens of millions who paid Fica taxes but not income taxes got no tax cut.

 

More hypocrisy from the left. We are talking income tax not FICA. You once again show me you have nor credibility

 

You're post:

You said nothing about income taxes.

Your lack of credibility was established long ago.

 

Geezus when are you people gong to quit claiming FICA as a legitimate revenue tax? It is NOT.

If you don't pay income taxes, you are a freeloading POS, that is the bottom line Iriemon!!

Pay some Income Taxes or **** of America!

 

Fica taxes make up over 40% of all federal taxes paid.

They only don't count to conservatives who want to distort who pays taxes in this country.