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Old 03-31-2009, 06:57 PM
 
Location: Charlotte, NC
123 posts, read 202,567 times
Reputation: 36

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Coming back to the topic, the good news is that, a friend of mine got a job in TN and is moving ther. However he had a job here too! Bad news is that Wachovia is silently laying off employees without making a huge batch, they are doing it on a person-2-person basis. 2 of my friends from Wachovia in IT field (US citizens) got laid off. Also http://www.marketwatch.com/news/story/Wells-told-staff-may-cut/story.aspx?guid={617FC24E-1EF6-4DCF-8736-C4E6813515DD}
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Old 03-31-2009, 07:06 PM
 
Location: Yellow Brick Road
35,464 posts, read 43,225,972 times
Reputation: 19789
OHIO - I totally agree with you that these infrastructure deficits need to be addressed. But here is the thing . . . by the time these projects are ready to actually HIRE people, the economy will already be gearing up on its own. And giving a bunch of jobs to contractors/construction workers only helps a very small segment of the out-of-work population. Not like you can quickly train someone to be an architect, engineer or big equipment operator, you know what I mean? And the contracts will all go to established companies w/ staff in place. So I don't see how any of this will get us anywhere.

As for the country's energy infrastructure, that should be at the state and municipal level and with the energy companies providing energy locally. I mean - take NC - Duke is a utility under jurisdiction of the state. So improvements to the energy grid here should be worked out b/n the state and Duke Energy, so as to minimize rate hikes due to infrastructure improvement. See what I mean?

It is not like "we the people" are getting FREEBIE help!! We, the people, are the taxpayers footing the bill. Well, not really. China and Dubai are footing it cause WE DON'T HAVE ANY MONEY!!!! We are borrowing all this money in the "stimulus" from other countries! And you can bet we are not about to cut off imports from China when China holds our debt!!!

Think about this. Obama decided that b/c GM was getting taxpayer monies, he could fire the CEO. Now that is beyond ludicrous and surely is illegal. GM has a corporate charter and a board wh/ has governance over the organization. Yet, O stepped in and decided to play dictator. I mean - the whole country should be screaming on PRINCIPLE alone! Who cares if you like or dislike the CEO of any company - that is not the point. The point is - we did not elect Chavez (did we??) This is a republic with laws - and what jurisdiction did the Pres have to fire anyone other than a member of his own staff? (Or someone in the military, since he is Commander in Chief).

But has anyone done a thing about this obviously illegal and dangerous precedent? NOPE. We are all sitting around like sheep. No one cares.

Now that you have seen how quickly your employment rights can be dissolved (I am sure the CEO of GM had a contract) . . .think about this. O says - well, the federal gov't gave GM money so now he owns GM.

China owns our asses. YEP. So what is going to keep China from saying - two years or five years or ten years down the road - "You know - we own America. They owe a gazillion trillion billion dollars to us. So . . . why not just go take it over? Let's call in all the debt!!!"

Pretty scary, huh? So this stimulus program and all these bailouts . . . O has threatened our very existence as a nation. Think it can't happen? Ask people who lived thru/ WWII if they could have imagined, in 1930, what was going to happen all over Europe just a few years down the road.

We have sold our souls. Well, I didn't sell mine. Obama sold it w/o my permission. Kinda like he fired the CEO of GM w/o the board's permission.

Any time you take money from another entity, you are beholden to them. I applaud the state of SC for having more guts to refuse the money than the rest of the states in this federation.

I agree - there has to be money to help those out of work. But that is a drop in the bucket compared to the other money that is being thrown around in this stimulus package.
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Old 03-31-2009, 07:34 PM
 
Location: Charlotte, NC
7,042 posts, read 8,832,687 times
Reputation: 2228
Ani, I respectfully disagree. The stimulus plan has a lot of very needed projects in it that will benefit this country for years to come. This not only will put people to work, but, develop roads, improve our energy grids (among other things) and, most importantly of all, will boost confidence not only here, but, across the world. Increasing unemployment benefits will give a bit of relief to those that have been unemployed for awhile. Overall, it is a great thing. I think that it has already started to work positively with the stock market seeming to stabilize and the housing market following suit. Granted, it is a slow and cautionary improvement, but, it IS the glimmer of hope that you speak of.

Sure, the cost is high. But, the alternative probability would have brought this country into an actual depression. The cost of that would have been much dearer. Remember that the root of the entire financial mess, beyond all of the rhetoric is and what remains a lack of confidence/trust in our financial markets and in our government. This is world wide. Other countries look to us to act. They look to us to rescue bad situations. IF we refused to act (just look at this past fall and how rapidly everything declined) and did not even TRY to rescue ourselves, everyone's markets would tank. That could have caused a world-wide financial depression which would be very difficult (and time consuming) to get out of.

Obama is really being quite smart about this. He is putting massive requirements on any institution receiving bailout funds. He knows that the institutions will squirm under these tight restrictions and that, above all, will prod them to repay the funds as soon as possible. There is one bank that has already paid back their share...in full!! I look for the big ones to pay their shares back by next year. They don't want to answer to the gov't for their pay/bonuses, so, they will work quickly to release themselves from that grip. This payback will work towards reducing the enormous deficit that was incurred. It also forces the banks to become aggressive in "righting their ships". I think that was a particularly clever strategy. He could have put due dates, etc on the funds but if the banks did not have a strong incentive to pay them back, they would have dragged their feet. After all, those funds would have helped their bottom line on reports to the shareholders long after everyone forgets about where they came from.

This stimulus is better than the "rebate" that was given previously because when it is all over, we really will have something to show for the funds that were spent. I am not overly concerned about the deficit because I feel confident that plans will be made to recoup those funds...or, at least a good portion of them...once we are back to a booming economy. Right now, this is needed to give this country the boost that it needs, both economically and in confidence.

...And, that is my 2 cents. I know that it is not popular opinion, but, this comes from someone that is in the financial industry and has what might be considered a different perspective.
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Old 03-31-2009, 07:58 PM
 
Location: caribbean island
5,404 posts, read 5,095,114 times
Reputation: 1893
CC: If I had only known about this side of you I never would have asked you to dance. And now that we are engaged to lay this bombshell on me!

Sorry but we'll have to call the marriage off. I'm calling my Mom and telling her the person you really are.

I'll love you always but.....don't agreee with one word of what you posted.
Ti amo
Juan
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Old 03-31-2009, 08:31 PM
 
Location: Charlotte, NC
7,042 posts, read 8,832,687 times
Reputation: 2228
Lo siento, Juan. Soy una persona que piensa mucho.

<sniff> and, I was so looking forward to being your esposa!
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Old 03-31-2009, 08:56 PM
 
Location: Waxhaw, NC
494 posts, read 860,429 times
Reputation: 160
Quote:
Originally Posted by anifani821 View Post
OHIO - I totally agree with you that these infrastructure deficits need to be addressed. But here is the thing . . . by the time these projects are ready to actually HIRE people, the economy will already be gearing up on its own. And giving a bunch of jobs to contractors/construction workers only helps a very small segment of the out-of-work population. Not like you can quickly train someone to be an architect, engineer or big equipment operator, you know what I mean? And the contracts will all go to established companies w/ staff in place. So I don't see how any of this will get us anywhere.

As for the country's energy infrastructure, that should be at the state and municipal level and with the energy companies providing energy locally. I mean - take NC - Duke is a utility under jurisdiction of the state. So improvements to the energy grid here should be worked out b/n the state and Duke Energy, so as to minimize rate hikes due to infrastructure improvement. See what I mean?

It is not like "we the people" are getting FREEBIE help!! We, the people, are the taxpayers footing the bill. Well, not really. China and Dubai are footing it cause WE DON'T HAVE ANY MONEY!!!! We are borrowing all this money in the "stimulus" from other countries! And you can bet we are not about to cut off imports from China when China holds our debt!!!

Think about this. Obama decided that b/c GM was getting taxpayer monies, he could fire the CEO. Now that is beyond ludicrous and surely is illegal. GM has a corporate charter and a board wh/ has governance over the organization. Yet, O stepped in and decided to play dictator. I mean - the whole country should be screaming on PRINCIPLE alone! Who cares if you like or dislike the CEO of any company - that is not the point. The point is - we did not elect Chavez (did we??) This is a republic with laws - and what jurisdiction did the Pres have to fire anyone other than a member of his own staff? (Or someone in the military, since he is Commander in Chief).

But has anyone done a thing about this obviously illegal and dangerous precedent? NOPE. We are all sitting around like sheep. No one cares.

Now that you have seen how quickly your employment rights can be dissolved (I am sure the CEO of GM had a contract) . . .think about this. O says - well, the federal gov't gave GM money so now he owns GM.

China owns our asses. YEP. So what is going to keep China from saying - two years or five years or ten years down the road - "You know - we own America. They owe a gazillion trillion billion dollars to us. So . . . why not just go take it over? Let's call in all the debt!!!"

Pretty scary, huh? So this stimulus program and all these bailouts . . . O has threatened our very existence as a nation. Think it can't happen? Ask people who lived thru/ WWII if they could have imagined, in 1930, what was going to happen all over Europe just a few years down the road.

We have sold our souls. Well, I didn't sell mine. Obama sold it w/o my permission. Kinda like he fired the CEO of GM w/o the board's permission.

Any time you take money from another entity, you are beholden to them. I applaud the state of SC for having more guts to refuse the money than the rest of the states in this federation.

I agree - there has to be money to help those out of work. But that is a drop in the bucket compared to the other money that is being thrown around in this stimulus package.

So true...not to mention the Trillion printed...quietly a few weeks ago and put into the economy. We are in deep doo-doo.
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Old 03-31-2009, 09:00 PM
 
Location: Charlotte, NC
2,193 posts, read 3,197,510 times
Reputation: 1057
Quote:
Originally Posted by ss20ts View Post
I still think the government should have written checks to the tax payers of this country. If they had even given us half of that $750 Billion+, we would have been able to purchase things. Put money back into the economy.

I would have paid off a little of my credit card debt, but the majority of it I would have spent in stores LOCALLY. I also would have gone on an unplanned trip.

I definitely would have gone to a NASCAR race this year - probably more than one. That's well over a grand right there! And there's no races in my backyard so I would have to travel, pay for hotels, gas, food, etc. That would have spread the funds.
Spot on, I totally agree. 4 trillion dollars divided by every household in America would have equated to 40 grand for each household. I think that's a good stimulus, don't you guys agree?

Another thing Obama could have done if he wasn't a slave to the elite and just and the banksters was do a write down on the principal of people's mortgages.

He could have also given tax credits to small businesses.

There are many solutions that people with doctorate degrees all over the world have but unfortunately we have either idiots in the administration or people there just want to screw us over.

Sadly we've been had by the 'change we all could believe in.' Maybe if we don't forget in 4 years, we could choose a third party candidate. But I'm not holding my breath.



Quote:
Originally Posted by anifani821 View Post

China and Dubai are footing it cause WE DON'T HAVE ANY MONEY!!!! We are borrowing all this money in the "stimulus" from other countries! And you can bet we are not about to cut off imports from China when China holds our debt!!!
While we do owe China, the majority of our debt is not owed to china. Half of it is owned by the government itself. Here's a good chart in this link but it's a little old. You can click the link for estimated foreign holdings and that'll show China holds more of our debt now in 09 but it's still not as significant as everyone makes it out to be.

http://www.optimist123.com/optimist/...d_pie_cha.html
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Old 03-31-2009, 09:02 PM
 
Location: Up above the world so high!
44,840 posts, read 56,240,416 times
Reputation: 37891
Quote:
Originally Posted by anifani821 View Post
OHIO - I totally agree with you that these infrastructure deficits need to be addressed. But here is the thing . . . by the time these projects are ready to actually HIRE people, the economy will already be gearing up on its own. And giving a bunch of jobs to contractors/construction workers only helps a very small segment of the out-of-work population. Not like you can quickly train someone to be an architect, engineer or big equipment operator, you know what I mean? And the contracts will all go to established companies w/ staff in place. So I don't see how any of this will get us anywhere.

As for the country's energy infrastructure, that should be at the state and municipal level and with the energy companies providing energy locally. I mean - take NC - Duke is a utility under jurisdiction of the state. So improvements to the energy grid here should be worked out b/n the state and Duke Energy, so as to minimize rate hikes due to infrastructure improvement. See what I mean?

It is not like "we the people" are getting FREEBIE help!! We, the people, are the taxpayers footing the bill. Well, not really. China and Dubai are footing it cause WE DON'T HAVE ANY MONEY!!!! We are borrowing all this money in the "stimulus" from other countries! And you can bet we are not about to cut off imports from China when China holds our debt!!!

Think about this. Obama decided that b/c GM was getting taxpayer monies, he could fire the CEO. Now that is beyond ludicrous and surely is illegal. GM has a corporate charter and a board wh/ has governance over the organization. Yet, O stepped in and decided to play dictator. I mean - the whole country should be screaming on PRINCIPLE alone! Who cares if you like or dislike the CEO of any company - that is not the point. The point is - we did not elect Chavez (did we??) This is a republic with laws - and what jurisdiction did the Pres have to fire anyone other than a member of his own staff? (Or someone in the military, since he is Commander in Chief).

But has anyone done a thing about this obviously illegal and dangerous precedent? NOPE. We are all sitting around like sheep. No one cares.

Now that you have seen how quickly your employment rights can be dissolved (I am sure the CEO of GM had a contract) . . .think about this. O says - well, the federal gov't gave GM money so now he owns GM.

China owns our asses. YEP. So what is going to keep China from saying - two years or five years or ten years down the road - "You know - we own America. They owe a gazillion trillion billion dollars to us. So . . . why not just go take it over? Let's call in all the debt!!!"

Pretty scary, huh? So this stimulus program and all these bailouts . . . O has threatened our very existence as a nation. Think it can't happen? Ask people who lived thru/ WWII if they could have imagined, in 1930, what was going to happen all over Europe just a few years down the road.

We have sold our souls. Well, I didn't sell mine. Obama sold it w/o my permission. Kinda like he fired the CEO of GM w/o the board's permission.

Any time you take money from another entity, you are beholden to them. I applaud the state of SC for having more guts to refuse the money than the rest of the states in this federation.

I agree - there has to be money to help those out of work. But that is a drop in the bucket compared to the other money that is being thrown around in this stimulus package.
"Obama sold it w/o my permission" - of God Ani, you said it.

I am so disgusted to be breathing the same air and sharing this planet with people so shortsighted and ignorant as to believe the stimulus package is the right thing to do. Honestly, if I was wealthy enough and could afford to do whatever I damn well pleased I'd be packing up and heading over to New Zealand or Austrailia, some where far away from this trainwreck we're all headed for.
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Old 03-31-2009, 09:33 PM
 
Location: Yellow Brick Road
35,464 posts, read 43,225,972 times
Reputation: 19789
Hi, CHI! One of the reasons I love this forum is b/c I get to not only climb up on a soap box, I get to hear what others think. There are always more ways than one to assess a situation!

I don't see the stimulus package as moving us forward b/c

1. It is not our money. The Feds are doing exactly what we have seen homeowners do - make improvements by borrowing money they can't pay back in a reasonable period of time. Homeowners used their houses as ATMs . . . Obama is using Treasury Bills/I.O.U's as a national ATM.

2. The infrastructure projects will not even be up and running til mid to late 2010, in most cases. If they ARE in operation b/f that, then the money was just used to pump into existing projects. That is just business as usual! And no one will be hired for that work as contractors involved in existing projects already have their crews. State money has continued to flow to projects that have already been on the books or have already started. So this makes no sense to me. Who is gonna get all these jobs? The same people who are now employed. It is bogus! There won't be any new jobs - except maybe GOVERNMENT jobs. More bureaucracy! They will need people at the Treasury, I guess, to print all the money. (side note: Europeans are calling for America to dump the dollar and change our monetary system to the Euro. They know what Americans haven't figured out yet - the dollar is gonna be worthless if O keeps printing up dollar bills and borrowing $$ from the Chinese).

3. Capitalism is what runs our economy. Corporate greed is not the inevitable outcome of Capitalism, despite what Marx says. Corporate greed is the likely result when people abandon moral principles. You do not solve corporate greed by slapping people on the hands by withholding their bonuses. Nor do you break the law and over-ride a corporation's duly-filed and recognized state charter just b/c you are the President. Obama was not elected King but he sure is acting like a Dictator. What goes on in corporations is a matter for the corporation to resolve. What we are seeing is the blatant attempt at nationalizing various sectors of our economy. No President should have the power to take such action. Well, actually, no President DOES have that power. Thomas Jefferson has probably rolled over in his grave. (Note to self: call Monticello; ask if TJ's grave looks "disturbed.")

4. Unemployment compensation has regularly been adjusted over the last 40 years, as well as extended. This portion of the "stimulus" package is ridiculous. I guess O and his team thought by tagging that on - it would make him look like the great savior to the unemployed masses, but this is bogus . . . unemployment compensation can be changed and/or extended at any time by Congressional action, and indeed, has been changed and extended many times by Congressional action. This is a non-issue.

5. I don't see anything "clever" about any part of this stimulus plan. It is just more of the same - throw money at the situation and create "welfare" programs. This is NOT the Tennessee Valley Project, the Savannah River Project or the Conservation Corps. This is just a bunch of line items on a budget, dispensing money. The only difference is . .. this go round . . . WE DO NOT HAVE THE MONEY IN OUR COFFERS. THIS IS NOT OUR MONEY. WE ARE BORROWING THE MONEY.

6. Europeans do not respect any of this! Why would they? Nothing has changed! Obama is even sending more troops to Afghanistan. The only reason European heads of state were upset w/ us over Iraq is b/c we messed up their business deals with Saddam Hussein. They (Russia, France and Germany) want us out of Iraq so they can get their contracts back. This war has cost them a lot in lost revenue b/c we interferred in their ability to do business w/ Iraq.

And . . . the only reason we bailed out these banks was b/c of foreign concerns. Europe will be fine w/ seeing us all yell "UNCLE SAM" and succumb - once they have recouped their losses on the crappy securities that Franklin Rains and his buddies at Fannie Mae bundled and sold all over the globe. Europe would just as soon see the USA sink like Atlantis, never to be heard from again (as long as they don't take a financial hit b/c of our demise).

That is why I am saying . . . it is up to the AVERAGE AMERICAN to figure out how to pull ourselves out of this economic doldrum. Obama is leading us down a path to Marxism. The writing is on the wall! If we all sit back and wait for our hand-outs, we are gonna be screwed. CBO estimates are not only different than Obama's - they are VASTLY different. Our Prez and his cohorts are playing games w/ figures and why the American public is just sitting here like a bunch of whipped pups is beyond my imagination.

See below:

The Administration forecast is associated with a long term real GDP of 2.6% combined with inflation of 2.1% with Budget Deficits running at 3.1% of GDP. This implies a Debt/GDP equilibrium of 3.1%/(2.5% + 2.1%) = 66%

The respective figures for the CBO were: real GDP 2.2%, inflation 1.9%, Budget Deficit at 5.7% (and rising?). This implies a Debt/GDP equilibrium of: 5.7%/(2.2% + 1.9%) = 139%.

Obama Administration vs CBO fiscal forecast

And

Today in Investor's Business Daily stock analysis and business news (http://www.investors.com/editorial/editorialcontent.asp?status=article&id=32269946981 6083&secid=1501 - broken link)

So why the huge gap between Obama and the CBO?
Obama's team employed one of the oldest budget tricks in the books — exaggerating economic growth — to hide the true cost of his tax and spending plans. Budget forecasts are hugely sensitive to predictions about GDP growth, inflation, unemployment and interest rates. Even slight differences can have a huge impact on projected outlays and revenues.
And in his budget, Obama is positively Pollyannaish about the economy, predicting 3.2% real GDP growth next year, compared to the CBO's 2.9% and the Blue Chip consensus forecast of 1.9%. While the CBO and Blue Chip think unemployment will be 9% in 2010, Obama claims it will be only 7.9%. And so on.
Shorn of these tricks, the CBO finds that what remains is a fiscal plan that will leave the country mired in gargantuan deficits and debt.
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Old 03-31-2009, 09:38 PM
 
Location: Up above the world so high!
44,840 posts, read 56,240,416 times
Reputation: 37891
Quote:
Originally Posted by anifani821 View Post
Hi, CHI! One of the reasons I love this forum is b/c I get to not only climb up on a soap box, I get to hear what others think. There are always more ways than one to assess a situation!

I don't see the stimulus package as moving us forward b/c

1. It is not our money. The Feds are doing exactly what we have seen homeowners do - make improvements by borrowing money they can't pay back in a reasonable period of time. Homeowners used their houses as ATMs . . . Obama is using Treasury Bills/I.O.U's as a national ATM.

2. The infrastructure projects will not even be up and running til mid to late 2010, in most cases. If they ARE in operation b/f that, then the money was just used to pump into existing projects. That is just business as usual! And no one will be hired for that work as contractors involved in existing projects already have their crews. State money has continued to flow to projects that have already been on the books or have already started. So this makes no sense to me. Who is gonna get all these jobs? The same people who are now employed. It is bogus! There won't be any new jobs - except maybe GOVERNMENT jobs. More bureaucracy! They will need people at the Treasury, I guess, to print all the money. (side note: Europeans are calling for America to dump the dollar and change our monetary system to the Euro. They know what Americans haven't figured out yet - the dollar is gonna be worthless if O keeps printing up dollar bills and borrowing $$ from the Chinese).

3. Capitalism is what runs our economy. Corporate greed is not the inevitable outcome of Capitalism, despite what Marx says. Corporate greed is the likely result when people abandon moral principles. You do not solve corporate greed by slapping people on the hands by withholding their bonuses. Nor do you break the law and over-ride a corporation's duly-filed and recognized state charter just b/c you are the President. Obama was not elected King but he sure is acting like a Dictator. What goes on in corporations is a matter for the corporation to resolve. What we are seeing is the blatant attempt at nationalizing various sectors of our economy. No President should have the power to take such action. Well, actually, no President DOES have that power. Thomas Jefferson has probably rolled over in his grave. (Note to self: call Monticello; ask if TJ's grave looks "disturbed.")

4. Unemployment compensation has regularly been adjusted over the last 40 years, as well as extended. This portion of the "stimulus" package is ridiculous. I guess O and his team thought by tagging that on - it would make him look like the great savior to the unemployed masses, but this is bogus . . . unemployment compensation can be changed and/or extended at any time by Congressional action, and indeed, has been changed and extended many times by Congressional action. This is a non-issue.

5. I don't see anything "clever" about any part of this stimulus plan. It is just more of the same - throw money at the situation and create "welfare" programs. This is NOT the Tennessee Valley Project, the Savannah River Project or the Conservation Corps. This is just a bunch of line items on a budget, dispensing money. The only difference is . .. this go round . . . WE DO NOT HAVE THE MONEY IN OUR COFFERS. THIS IS NOT OUR MONEY. WE ARE BORROWING THE MONEY.

6. Europeans do not respect any of this! Why would they? Nothing has changed! Obama is even sending more troops to Afghanistan. The only reason European heads of state were upset w/ us over Iraq is b/c we messed up their business deals with Saddam Hussein. They (Russia, France and Germany) want us out of Iraq so they can get their contracts back. This war has cost them a lot in lost revenue b/c we interferred in their ability to do business w/ Iraq.

And . . . the only reason we bailed out these banks was b/c of foreign concerns. Europe will be fine w/ seeing us all yell "UNCLE SAM" and succumb - once they have recouped their losses on the crappy securities that Franklin Rains and his buddies at Fannie Mae bundled and sold all over the globe. Europe would just as soon see the USA sink like Atlantis, never to be heard from again (as long as they don't take a financial hit b/c of our demise).

That is why I am saying . . . it is up to the AVERAGE AMERICAN to figure out how to pull ourselves out of this economic doldrum. Obama is leading us down a path to Marxism. The writing is on the wall! If we all sit back and wait for our hand-outs, we are gonna be screwed. CBO estimates are not only different than Obama's - they are VASTLY different. Our Prez and his cohorts are playing games w/ figures and why the American public is just sitting here like a bunch of whipped pups is beyond my imagination.

See below:

The Administration forecast is associated with a long term real GDP of 2.6% combined with inflation of 2.1% with Budget Deficits running at 3.1% of GDP. This implies a Debt/GDP equilibrium of 3.1%/(2.5% + 2.1%) = 66%

The respective figures for the CBO were: real GDP 2.2%, inflation 1.9%, Budget Deficit at 5.7% (and rising?). This implies a Debt/GDP equilibrium of: 5.7%/(2.2% + 1.9%) = 139%.

Obama Administration vs CBO fiscal forecast

And

Today in Investor's Business Daily stock analysis and business news (http://www.investors.com/editorial/editorialcontent.asp?status=article&id=32269946981 6083&secid=1501 - broken link)

So why the huge gap between Obama and the CBO?
Obama's team employed one of the oldest budget tricks in the books exaggerating economic growth to hide the true cost of his tax and spending plans. Budget forecasts are hugely sensitive to predictions about GDP growth, inflation, unemployment and interest rates. Even slight differences can have a huge impact on projected outlays and revenues.
And in his budget, Obama is positively Pollyannaish about the economy, predicting 3.2% real GDP growth next year, compared to the CBO's 2.9% and the Blue Chip consensus forecast of 1.9%. While the CBO and Blue Chip think unemployment will be 9% in 2010, Obama claims it will be only 7.9%. And so on.
Shorn of these tricks, the CBO finds that what remains is a fiscal plan that will leave the country mired in gargantuan deficits and debt.
Brilliant, really Ani, way to go

Unfortunately, I fear, it's above the comprehension level of those in most need of understanding it
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