GDP's negative growth in the last quarter is generally being attributed to
the fiscal cliff fight, lower defense spending, and growing concern in the
private sector over the impact of the sequestration that was originally supposed
to take effect with the New Year, but was postponed to March 1. Given the increasing indicators that Congress will not stop sequestration, I
expect continued contraction in this quarter as the ripple effects of
Congressional inaction spread through those parts of the country where the local
economy is impacted by military bases or production facilities. Economic growth
has been positive, but anemic coming out of the recession. It won't take
much for the full effects of sequestration to arrest its improvement.
VST, I agree with part of what you say and disagree with other parts. The first
two years had very consistant gdp growth probably because of the stimulus. As
the stimulus went away so did smooth growth..btw that's very
Hayekish..stimuls works in the short run but if continued contributes to a
dangerous misallocation of resources (not bad for a socialist). I agree we need
to see growth consistently at 3% or better to get out of the doldrums..but I
wouldn't bet on it for at least another couple of years. I also
wouldn't bet that we sink into another recession. Not enough room to
explain but I think this is just the kind of recovery we're stuck with
given the circumstances of our economy and the world economy, and it's a
darn site better than what would have happened if we had gone the austerity
route of Europe. Job growth realted..but really a whole different
VST..steadily was accurate through 2011 then the stimulus wore off and more true
market forces took over. Still under Obama the GDP growth rate has gone from
-3.51% to a + 3.1 with dips occurring between a high in 2011 of 3.02% and a high
in the third quarter of 2012 of +3.1%..current -0.1% noted. So Irony Guys use
of the word steadily may not be completely accurate but...it hardly taints the
accuracy of his insinuation that Obama has greatly improved GDP growth. In fact
the highest level of GDP growth Bush ever obtained was +3.48 and that was in the
middle of a bubble.
FYI... Senator Orrin Hatch has been in office for over 30 years. He has voted to raise the debt ceiling...x16 times.
This letter can be summarized by this:"Wah wah! My guy, Mitt
Romney lost! Wah wah!"Repubs, more sour grapes and complaining
ain't gonna help you win in 2016.
Reid, the guy who obstructed the house fiscal cliff plan from being debated or
voted on in the senate, from August through December, and then claimed the house
hadn't acted on the fiscal cliff.There is a man you can trust?
Not!The mistake the liberals make, I am talking about the masses, is
that they think what is good for their personal finances short term must be good
for the national economy long term. This is simply not true.Nor is
the corollary, that is currently popular among liberals, that policies that are
bad for the rich are good for the country. Can't you think
beyond your jealousy and hate? I suppose not. Let me put it in terms
you can understand.Yes you have your cake today, but "The cake
is a lie!"
What evidence does this letter writer have to support his ridiculous claims? And
the right has the nerve to accuse is of being ill-informed? Yikes!No
wonder why the GOP is becoming irrelevant in politics
Silly Pagan, everyone knows the debt only became a problem January 20, 2009.
100 percent fact free letter. Since Obama took office, the economy has steadily
improved, the annual deficits have steadily dropped, the government has shrunk,
and my investments have doubled in value. Beats the heck out of Bushworld.
All of the yearly changes under Obama are well below the 7 percent average
annual increase under Bush prior to fiscal 2009. And in that year, 2009, for we
assign most of the increase to Bush — the rise amounted to a staggering
17.9 percent.We'll end by reminding readers that...tax
revenues are also low by historical standards. For fiscal 2009 and 2010,
receipts were just 15.1 percent of GDP, and last year they inched up to 15.4
percent. They haven’t been that low since 1950. And prior to 2009, the
average since the end of World War II was 17.8 percent.(Factcheck)
Interesting that the Des News took down the George Will editorial. It was up
this morning for comment. Where did it go?
I still think Senaotr Reid saying Mitt Romney had not paid any taxes for 10
years - and watching Mitt's reaction, was like getting catching someone
with their hand in the cookie jar, or flipping the light on when you've got
pants down.The burden of proof was on Mitt - he never denied
it, never produced evidence to the contrary, and chose to quickly silence the
matter and hope people would forget it.
Regan tripled the national debt.W. Bush doubled the national
debt.Obama? Has done neither. Yes if Obama added ONE
dollar to the national debt it would technically be the 'highest' debt
in US history. By a dollar. Now, lets remember George W. Bush did
not end his wars in Iraq and Afghanistan before he left office after x8 years.
He didn't even budget them. So, that left not one, but two wars to be added
to the national debt after George W. Bush left office. Who was
next? Regan raised the debt ceiling x18 times. George W.
Bush, x7 times. Obama? x4 times. There is plenty of
evidence that people are attacking Obama about the rhetoric they were fed... instead of the facts of the matter. If I was concerned
about debt, why would I vote Republican... when the Republican party
has raised the debt more than any other party?
Funny, I heard the exact same rant yesterday on Hannity. So either
Mr. Jones is Hannity or he is merely regurgitating the nonsense he heard
yesterday. Nice job.All I know, is that if Mr. Jones is as smart as
he pretends to be, then I say elect him as President. Place him in the White
House. I'm sure he'll fix our economy, cause world peace, make us all
millionaires, and cure cancer in just his first term!
My goodness. So based on your presumed diet of Fox News, you know more about
the budget negotiations than the Senate Majority Leader.Also, the stimulus
did create jobs. Those are the facts, and they are not in dispute.
What radio stations does this writer listen to?I'll bet I know
. . . .
Hmmm, Using right wing talking points to counter the supposed left-wing
talking points. amazing.In related news -- I see the
FoxNews has recently canned [un-Friended] Sarah Palin and Dick Morris from their
Fox and Friends.Could it be that FoxNews is suffering with serious
credibilty issues?BTW - God bless you Senator/Brother Reid. [still the highest ranking American Mormon.]
Excellent points Mr. Jones. But don't expect any answers from Democrats,
all they will do is attack YOU for asking the questions as per the comments
I sometimes wonder if among Republicans there aren’t other, deeper
impulses underlying what appears superficially as blatant delusion for the
uncompromising obstructionist thinking that so limits the efficacy of our public
discourse and our government
This 'he said, she said' stuff really isn't getting the job done,
So, Gordon, is it possible that you know more about the negotiations in
Washington than someone who is in the middle of it. Yes, he's partisan, but
probably no more than you are. And to accuse President Obama of not caring about
the deficit is inaccurate. He wants to raise taxes to help solve the problem. He
also realizes that slashing spending, particularly on Medicare, Social Security,
and aid to the poor, would have serious economic consequences. This is not an
easy problem to solve, and Republicans are not helping at all with their silly
devotion to Grover Norquist (in spite of the fact that most of their
constituents want to see taxes on the wealthy increase). So, who's out of
Right wing talking points attacking left wing talking points. Can anyone say
The stimulus has not had a negative impact on job creation, it in fact created
Wow - what a bunch of right-wing talking points. In fact, it reminds me of
watching Fox News. Nothing in this letter is based on fact. Where do I start -
Boehner walked away, the stimulus saved us from a greater disaster (and should
have been even larger), Republicans like Boehner and McConell are
obstructionists bent on making our lives worse so they can blame it on Obama.
They are the problem, not the solution.