Comments about ‘Half-million jobs vanish as economy deteriorates’

When do the tax cuts for the rich trickle down and turn into more jobs and higher wages for the middle class?

It didn't work for Reagan, and now we have the true fruits of Conservative policies.

And they think a "stimulus" package will help? And where will they find some "real" money to inject into the economy? Oh, I forgot! They'll just print all they need. Just when we thought the dollar has bottomed out, they'll drive up inflation further and devalue the dollar further. At this point, no amount of fiat money they dump into the economy will stop the free-fall. I wonder how long it will take before they officially announce that we're heading into a depression.

The loyal opposition party has hated Bush so much that for 8 years they have tried to tear-him-down....anything to regain power. They sad thing is they have succeeded by taking the country with.

Barney Frank and they other liberals pushed for home-loans for those who could not afford and Bush spent like wild-fire to try and apease the opposition and out "wants."

We got not what we needed, but lived for the moment and we all are losers now....Congrats !!!

To: Congrats:
The speculators who leveraged equity on one home to buy multiple homes to flip and the beanie baby style of investment are the more of an issue in the real estate bubble and it's collapsed than those pesky poor people. The financial industry didn't innocently make such huge profits making and bundling bad loans only because liberals browbeat them and forced them to. It was greed and bad investment theory pumping a bubble no matter how you much point and blame those demonic liberals and the evil poor.

To GWB,

President Bush never was a conservative and his lack of leadership coupled with the already anti-capitalist stance of the Democrat party assured that we would be in a similar mess today. It was bound to happen and now we are reaping the whirlwind.

The answer isn't more government control, it is less government involvement in the economy. The housing/mortgage crisis is primarily a result of the government mandating affordable housing (risky loans) to literally everyone, no matter their ability to afford the home they are purchasing.

Reagan's tax cuts led to the creation of over 20 million jobs and the longest sustained economic growth this nation has ever seen.

Right now we need to TEMPORARILY SUSPEND Capital Gains taxes to help spur economic growth. We also need to end the "mark to market" accounting policy. These 2 acts alone would get our economy creating jobs again.

To "Fed Up": As someone who lived in Las Vegas before, during, and after the whole housing thing, I have to strongly disagree with you. I. Was. There. I saw first hand what people were doing. Congrats hit the nail right on the head.

As a result, now that I have moved for jobs sake, I still own a house there and pay a sickening amount of money each month to keep it from foreclosing. And I purchased the home at the beginning of the bubble and chose a stable loan that I knew I could pay for. I knew people who got variable loans and purchased a home twice the size they could realistically pay for. I was called an idiot on more than one occasion for the modest home I decided to buy. The receive it now and pay later mentality destroyed us. And hurt a lot of people who understood reality and did every thing right.

Scott, interesting take. When his policies fail, you claim Bush is not a Conservative. Can you cite where you claimed the same thing while he was cutting taxes on the rich or starting a war with no way to pay for it?

As for your statement "The answer isn't more government control, it is less government involvement in the economy." For this do you mean when the Government stopped regulations on Credit Default Swaps so that companies could sell $300 billion in mortgages packaged for a total of over 7 Trillion in Swaps?

Perhaps if the government regulation limiting a 1 to 1 swap we wouldn't be bailing out citibank, goldman sachs, etc.

The you say "The housing/mortgage crisis is primarily a result of the government mandating affordable housing" you forget that the Mortgage companies made the loans because they could sell Swaps for 10X the value of the loans, not because of the CRA (stop listening to Rush).

As for "Reagan's tax cuts led to the creation of over 20 million jobs and the longest sustained economic growth this nation has ever seen", didn't Clinton beat Bush I because we were in a recession in 1992? Selective memory much?

BAD INTELLIGENCE.

9/11.

THE LIGHTS ARE ON BUT NOBODY'S HOME.

JOBS VANISH.

1.20.2009,

THE END OF AN ERROR.

has his work cut out for him with this economy down spiral. The best of luck to him.

Who is to blame for all this mess??? We the people. We run the businesses, we make up the government, we are the consumers, we are the real estate speculators, we are the people that made the poor choice to buy more than we could afford. I'm tired of the blame being pointed at everyone else. There are criminals & ignorance all about. We need to make the change. We need to produce more and live within our incomes.

Economic growth has long be a result of growing debt. When the debt collector calls, consumption begins to decline and businesses begin to fail because we were consuming at a faster rate than we were earning it. For example, I buy a big home, three fancy cars, a bunch of toys, all via a loan. Businesses seem to be doing well because they are selling lots of goods and services. Then my debt is maxed out and I can't buy anymore. Then these businesses aren't selling as much so they begin to lay people off. Now as many people are earning as much and thus sales decline further. It's a downward spiral resulting from greed. We want it now...

Welcome to a mess, President Obama. It was worse than we ever thought. We are with you all the way. Oh, the few nut cases will some how blame everyone except Bush and the GOP leadership. BUt the public has figured it out. Obama... you are a God send.

It will be interesting to see how many republicans in Congress kind of start supporting you when they realize that you are popular and doing what has to be done.

Any Congressmen from Utah? ahahahahahahah not a chance. But the rest of this great nation will get with the program and do what is right for all the people.

What a shame that Utah will be out of the decision making network for at least the next 8 years, could be even longer.

Easy to forecast that one.

Did Americans vote to elect Obama because he was a Messiah or because of eight years of denial? Just last August, Bush told us our economy was sound. Rush and other conservatives assured their followers that a Bush presidency would rise the economic tide for every American.

You can fool some of the people some of the tomr.

I, and many others didn't vote for Obama because he was a Messiah. Really, what other choice dis we have?

We know Obama is human. How refreshing, Obama admits he will make mistakes. Obama isn't radial change. Obama is just a refreshing change from the last eight years.

When does the stimulus checks/bailouts/hands-out-for-the-poor of the trickle-up left turn into more jobs and higher wages for the middle class?

It hasn't worked in and socialist or commmunist country that exists today.

By the way all those socialist and communist counties have much higher unempolyment than the US.

We must be doing something right!

to RE:GWB which counties are you referring to?

I was unaware that any counties were actually socialist.

I know there are plenty of socialis countries, but where are the counties?

And, I am not talking about stimulus checks etc. I am talking about economic policy that favors the rich and big corporations (like tax credits for shipping manufacturing overseas) that take money away from main street and put it in the hands of wall street. That is what takes jobs and wages away from the middle class.

You know what I meant so lets not play juvenile word games.

The facts are:

The middle class has been shrinking because they have been moving UP to higher class NOT down!

That is why the need for immigration, illegal or not, to fill labor jobs, lower paynig jobs.

Socialized spending has not help unemployemnt in other countries, they continiue to be much higher in unemploment than us.

Yapping about the rich is nothing more than a straw man argument. Taking money (even their lives) away from the rich dosn not create jobs, does not make anyone wealthier.

People have tried that over and over again, taking he wealth of others like the tzars and wealthy in russia, the jews in europe, this game goes on an on but just doesn't work.

Just look at history, none of the people became richer but those in power!

Just look at difference of east and west Berlin during cold war.

Which side had more wealthy people and more prosperity?

Which system worked best?