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Then call me ludicrous The fed is a privately owned institution. It is not a government agency. What the fed does is on the fed not Obama. But just one of those trillions of dollars would have gotten the US economy back to full employment if it had been given to everyone. That is each individual.
obama as a senator sponsored world debt forgiveness bills and the DREAM act, etc.
obama has always been a globalist, always favored illegal immigration, trade agreements, and cap and trade. we are fighting in many wars now thanks to obama, diverting US money to other countries.
obama appointed bernanke as head of the federal reserve, approved all of the things bernanke did, and even voted for the bankster bailout, as well as appointing the pay czar who confirmed those giant bonuses, who also is the BP pay czar!
all that money was DIVERTED from helping the american economy, while americans struggled.
seriously, if you aren't willing to blame obama, you are going to have to remind me what he did to fix this country-to get the jobs up and running, to lift america back up, to get the wars stopped, etc.
i certainly agree that BOTH parties are contributing now to the disaster with this poor excuse of a debt ceiling bill, and all the people who voted for it, in either party, need to be run out of town.
nobody is saying that it is only obama's fault, but it clearly is a lot his fault, just as it was a lot bush's fault before him.
here are some eye opening numbers:
FY 2010 Federal Govt. Spending of $3.8 Trillion Consumed 32% of the Economy, or 46% of the economy counting regulatory compliance
The Social Spending portion consumed 62% of total spending, and has increased 17 Times Faster Than The Economy
federal employee compensation is 2.3 times higher than paid in the private sector
Today's economy is 10 TIMES more federal government-spending-dependent, compared to prior generations
you have to see where the problem is before you can fix it.
combined government spending grew 4 times faster than the economy - - from a 12% share to the 51% share today.
the reciprocal downward slide of the private sector's share of the economy lost 39 points to government spending growth - - from an 88% share down to a 49% share today.
this really is the most comprehensive site for the rise of government spending and the falling of the private sector-with complete financial breakdowns, like this one as an example:
State & Local Government Expansion Trends - explosive growth nation-wide to $2.1 trillion, or $6,607 per person - now 18% of the economic pie, compared to 6% post WW II. Most people know each working person today supports more seniors than prior generations, but few know each must also support more state & local government employees than ever before. Each year the number of these employees increases faster than the national population (40% faster since 1999), creating today's indicated excess of 12 million employees. (also see companion report on one state- - as a template for evaluating your own state).
Last edited by floridasandy; 08-02-2011 at 09:28 PM..
With the never ending horrible economic news, such as today's report of the worst consumer spending in 2 years, do you think Obama has put us or will soon put us in an economic depression?
It seems the government puts out economic numbers one day, then later when no one is looking they UNEXPECTEDLY adjust the numbers to be worse, like the recent GDP reports. That on top of the fact that the GDP numbers are bogus to begin with, because of the excessive government spending, has me thinking we are actually in Obama's depression right now.
History shows us that the so called experts fail to realize we are in a recession or in this case a depression, until some time has gone by and they look back at the REAL numbers. I think this is one of those times.
It's all semantics. Our government goes to great lengths to hide the real numbers, and will NEVER admit there is a Depression going on. They don't even admit we are still in the Recession: supposedly that ended in 2009! Very few Americans are so out of touch to believe that anymore, though the unethical will simply lie and try to claim Obama's policies weren't the total waste of money they proved to be.
Depression has no agreed-upon definition, even in the field of economics. Wikipedia notes that: "a depression is characterized by its length, by abnormally large increases in unemployment, falls in the availability of credit— often due to some kind of banking or financial crisis, shrinking output—as buyers dry up and suppliers cut back on production, and investment, large number of bankruptcies—including sovereign debt defaults, significantly reduced amounts of trade and commerce...Price deflation, financial crises and bank failures are also common elements of a depression that are not normally a part of a recession."
The U.S. economy continues to fit this description to a tee, with the price deflation having been largely compensated for by massive "Quantitative Easing" by the Fed (dollar devaluation). Only now are we starting to see the inflation and increase in commodities prices predicted several years ago by investors and economists, but this hardly makes things better.
Another description of Depression is when GDP falls, rather than grows from year to year. GDP is defined as the market value of goods and services produced in the country. But GDP is a false measure of the economy, when
government spending is over 40% of GDP. Government spending is totally non-productive, and in fact a weight on the economy.
Our economy, stripped of the productive engine of manufacturing, and robbed of its job base and Middle Class, is simply no longer is healthy enough to support a government so large that its spending--not even including transfer payments like Social Security and Medicare--is almost as much as the economy that must be taxed to support it.
THOSE numbers are the ones that are critical, and are not sustainable: that government spending is 40% of the entire economy, leaving 60% of the economy to producing wealth to be taxed to pay for government spending.
The economy got shelled badly, but has been showing slight growth in the slowest recovery on record. It feels like we are still in a severe recession. Obama did not get us into this, but he is certainly keeping us in it.
When the president practices the politics of fear, when one industry after another is singled out for harassment and vilification, when an unprecedented tidal wave of regulations strikes the productive sector (enforced by bureaucrats with unprecedented power), when wealth is presumed to be a matter of luck or greed instead of satisfying the needs of society with products and services, when investors of capital are castigated and employers of people are beset with costs, obligations and taxes, when millions of people are lumped in with billionaires in high tax rhetoric, when the rule of law means so little that tax cheats can hold prominent positions....what else would you expect?
when the rule of law means so little that tax cheats can hold prominent positions....what else would you expect?
You have nailed it.
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