Bush, including both recessions 2.1%, during the recovery and interim 2.9% with full employment which limits growth to productivity gains. Obama including the recession 1.2 with HORRIBLE unemployment. See "related files" on http://bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm And in the 90's there was a dot.com bubble, there are always bubbles and yes the collapse of the Democrat housing scheme hurt growth at the end of his term. increased borrowing and decreased saving, as well as significant increases in government spending. No he hasn't and the worst the downturn the better the recovery historically. That has not been the case. Ahh links to back your claims about personal savings and debt. And giving Obama and the Democrats credit for reducing deficits and spending from the HUGE increases THEY engaged in is laughable. Bush and the Republicans handed them a $161B deficit in 2007 and spending at $2.7 Trillion. Two years later Obama and the Democrats had raised the deficit to $1,400B and spending to $3,5B. That's a 29% increase in spending in just two years.
That's a lie, when asked who decides what is someones fair share of taxes you said the IRS, that is factually wrong. Congress does, the IRS only collects it. - - - Updated - - - Wanna bet? I have lots of money invested that needs GDP to grow so I have money upon which to retire. What is the real telly point is the libs are silent and still do not demand Obama do something about the economy and jobs.
you asked me to define what fair taxes are my answer was that i don't need to, the irs already has which is correct, they provide information about tax rates and schedules only an idiot would think that i was saying that the irs sets tax rates, i said nothing about that thanks to gop obstructionism
Then why is it some here always run to their computers with glee to give out any bad economic news? Once again, most people, that have two brain cells to rub together, know the government does not creat jobs. Jobs are created in the private sector and that is based on how strong they feel the market is, when the government does not function properly, such as shutdowns they are not willing to invest money into major R&D and manufacturing. So if you want to get down to it the Congress and Senate are every bit as guilty for our slow economy as the Whitehouse, it is just easier to blame The President, while at the same time having no good ideas of their own.
Interesting, but there is no evidence for that. In fact government spending is proven to increase growth and revenues while austerity has never ever worked in all recorded history. Ok then? Good.
" Interesting, but there is no evidence for that. In fact government spending is proven to increase growth and revenues while austerity has never ever worked in all recorded history. " Worked for Canada. And Germany. And Switzerland. And Estonia. Know where it didn't work? The places that raised taxes but didn't cut spending. That ain't austerity, that's stupidity.
Two US economy killing initiatives promoted by Obama; TPP and NAFTA. And we wonder why we have such low wages and jobs being moved overseas. Stupid us.
Write your Republican Tea Party and tell them to raise taxes to get a deficit reduction deal done. - - - Updated - - - The latter.
Austerity: Obama Spending increase, 2009-2013: -1.89% Total Government employment, 2009-2013: -667,000 Not austerity: Reagan Spending increase, 1981-1985: +39.5%. Total Government employment, 1981-1985: +607,0000 Not austerity: Bush Spending increase, 2001-2005: +32.7% Total Government employment, 2001-2005: +603,000 source data Expenditures: http://cbo.gov/publication/45067 Employment: http://www.bls.gov/webapps/legacy/cesbtab1.htm See the difference? Your chart shows the actual decline of spending between 2009 and 2013, when the economy was trying the recover from the worst recession in 80 years. You couldn't find a better example of austerity in modern US history.
How do you feel about pissing down the drain $450 BILLION each year for debt interest payments? And $600-$700 BILLION in just a few years as debt continues to accumulate? Federal debt interest payment is a priority item in the budgets before all the fun things! Debt interest NEVER gets smaller unless you can reduce the debt and/or the interest rates...both highly unlikely. You surely realize you and all Americans get absolutely nothing in return for the $450 BILLION? It's just pissed away...
Your comment above is 'kind of' interesting from the perspective that many GOP members are business owners/managers, and most are friends with industry, and logic dictates that if wages are higher and unemployment is lower, then on average business is doing better. Why would they be as you say?
that analogy isn't a valid one the money doesn't go down a drain, it goes to debtholders you don't think they profit from paying low wages and fewer employees? google: Corporate Profits Are At An All-Time Record Peak And Expected To Grow in 2014
And please define exactly what Americans get this year for the $450 BILLION check to cover debt interest? $450 BILLION bought us what? What you do not understand is that business does not care about the size of wages or quantity of employees...all business cares about is earning and growing profits. They don't care if this is achieved by a million employees earning $100/hour or 1000 employees earning $18/hour. If a business has demand of their products and services, they are going to fill that demand in whatever fashion allows an acceptable product and acceptable profits. If they cannot obtain acceptable profits, and if labor is one of the factors, then labor must be reduced...if it can't be reduced then produce the products and services somewhere else--like off shore, or just close the doors. You act as if businesses control the world when in fact it is consumers who control business! If it was up to business they would sell one unit per year for $100 billion and be done with it...but they don't have this control so they can only sell as many units as consumers demand and for the price consumers will pay...it is the answers to these two questions which determines if there can be a viable business. How would you feel, if you invest in stocks, if your stocks were only returning .001% per year on your investment? Stocks are located in pension funds, mutual funds, 401K funds, personal portfolios, etc. etc. This is a double-standard...you whine about corporate profits yet you demand the highest return on your funds...you cannot have it both ways! You whine about your savings accounts paying 1% interest yet whine about banks earning more profits? Bottom line; you get absolutely nothing for that $450 BILLION interest payment! And those corporate profits you complain about make about 80 million Americans a little wealthier in their investment funds plus the millions who are employed by the companies, plus the taxes they pay, the economy they energize. The USA would have zero economic problems if we had 1000 Microsoft's or GE's or any record profitable corporations...this would be great!!! but you would still be whining...
It gets smaller relative to GDP if you have GDP growth. But I don't like it at all. Get on horn with your fell Tea Party folks and get them to compromise on tax increases to get the deficit down if you really care about it. You all should have done that long ago when Reagan and Bush were running up the debt with tax cuts.
where did you get that from? it has little, if anything to do with what i said you're making a false assumption, i'm well aware of what motivates capitalists you can spare me the unnecessary reproach my father is an economist and retired professor of finance i have a bba, ms in econ and over thirty years experience running my own businesses mine are doing way better than that, you need a better financial manager that's not it, i'm pointing out harmful effects of republican obstructionism debtholders get interest, that includes lots of americans, even me at times i don't think anyone here is advocating growing our national debt levels just for the heck of it most reasonable people would prefer to have the economy doing well, low unemployment and a surplus
" that's not it, i'm pointing out harmful effects of republican obstructionism " When are you going to point out the harmful effects of Harry Reid's obstructionism in the Senate? You tell me, do you really think Obama, Reid, and the democrats are interested at all in cooperating with the GOP?
[video=youtube;1PTiMKsTo-o]http://www.youtube.com/watch?feature=player_embedded&v=1PTiMKsTo-o[/video] who ever thought this would be so true of the GOP .
i would ask: like what, but isn't that up to you? yes, but it's not a one-way street like you phrasing suggests rumsfeld's face is even funnier in that video, than george's bushism
The only cooperation a democrat wants is for you to vote his way. And if you are unaware of Harry Reid's obstructionism in the Senate that you are sadly mis- or uninformed. I will however say that the repubs are not without some guilt over the current mess, the TPers have been totally unwilling to bend and they are hurting their party and undermining their own goals by their steadfast refusal to compromise. And I would also say that it does not help the situation any when Obama makes his daily speeches somewhere and ALWAYS denigrates the repubs. I don't think he ever really wants to work together with them, he only wants to play to his base and win elections. I think he has no interest in actually running the country.
Then simply print and spend more, get the growth required, reap the increased revenues and reduce the debt. Trying to get the taxpayer and public actually to pay off all this debt while conducting austerity has never worked anywhere an is a fools errand.
they deserve that for the damage done with obstructionism we could have had the economy in high gear by now and paying down the debt instead we've got republicans saying they won't hire people until obama's gone and firing people, while blaming it on the affordable care act what has reid done that comes even close to those things?
1. I'm a Libertarian. 2. We don't need to raise taxes. We could honor every enumerated power within the constitution on about 70% less spending.
