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It has EVERYTHING to do with what you said.
Pre-2000 US recoveries were rapid because the US dominated the world economy. We were the producers to the world.
We have been major consumers not producers since the late 70's. If you don't believe me check out the history of the US trade deficit.
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All we had to do was make it and people around the world would buy it - and we had no serious economic challengers.
Question when did Obama mention any of this when coming into office? Since I remember him going on and on about the summer's recovery being massive under his first term in office and that sure as hell never happened.
I'm ignoring the rest of your post since your just repeating yourself and deflecting from what Obama stated before coming into office about the economy.
It has EVERYTHING to do with what you said.
Pre-2000 US recoveries were rapid because the US dominated the world economy. We were the producers to the world. All we had to do was make it and people around the world would buy it - and we had no serious economic challengers.
THOSE days are over.
Today, we have lots of economic competition - particularly when it comes to manufacturing. This means we're going to bounce back the way we used to. We didn't do it 2002, we didn't do it this time - and we won't do it next time either - no matter WHO is President.
Get used to it.
Ken
Way to roll over and play dead. In fact, it IS because of what policies this president and congress are doing.
Next January, corporate taxes are set to rise. Income taxes are set to rise. We're the only developed nation that taxes profits made overseas. Other countries only pay taxes in the country that the profit was made. We tax that and then tax them again.
That's what's killing manufacturing. The misguided "we'll make it harder to take business overseas by taxing the crap out of folks that do that" mentality. Instead, we're losing jobs to countries that can make it cheaper because they're not having the snot taxed out of them.
It DOES matter who is president and who controls congress.
Way to roll over and play dead. In fact, it IS because of what policies this president and congress are doing.
Next January, corporate taxes are set to rise. Income taxes are set to rise. We're the only developed nation that taxes profits made overseas. Other countries only pay taxes in the country that the profit was made. We tax that and then tax them again.
That's what's killing manufacturing. The misguided "we'll make it harder to take business overseas by taxing the crap out of folks that do that" mentality. Instead, we're losing jobs to countries that can make it cheaper because they're not having the snot taxed out of them.
BULL.
What's shifted jobs overseas is CHEAP LABOR - pure and simple. The "US taxes are too high" argument is a bunch of bull.
We have been major consumers not producers since the late 70's. If you don't believe me check out the history of the US trade deficit.
Sure, but until fairly recently that trade deficit has been pretty minor. During the early 80's (and even some of the early 90's) for example, the trade deficit was 1/20th of what it is today. Over the first decade of the 21st century the US trade deficit exploded as US manufacturers went overseas in search of cheap labor. Technology changes have made it possible for work to be done anywhere on earth but still managed from here at home - so manufacturng, tech support, customer service and many other aspects of business moved overseas where labor was cheaper. NO economic recovery since that time has been anywhere near as rapid as those in the past - and they WON'T be ever again (at least not until labor costs rise in the 3rd world) - and it has NOTHING to do with WHO is President. That's why the recovery of the early 2000's was referred to as a "jobless recovery" and why this recovery has been slow in that regard as well.
But - slow or not - the recovery IS proceeding.
“I think people no longer have to whisper about the recovery, they can actually say it out loud in conversation,” quipped Katy Bardaro, the lead economist at PayScale.
Considering that we are recovering from a recession that is not impressive at all. In fact sustained growth is what is to be expected. The amount of growth has been lousy to say the least.
Bitching about Bush years after he has been out office to deflect the fact the economy has been growing at a snails pace under Obama is pathetic. he claimed responsibility for the economy and quite frankly we've had little growth, we are now over 100% debt to GDP, we have no plan to reduce deficit spending let alone the debt and this is a good thing? You do realize Obama could get reelected and be out of office with Dow barely above 14000 points, 200% debt to GDP, 7% national unemployment, and deficit spending continuing right? That's not leadership that is kicking the can down the road due to a lack of leadership.
Blame who you want, but the reality is we're paying the piper for 30 years of reckless policy.
how are you doing? haven't seen you on here lately
Doing fine. I show up here from time to time.
How you doing?
Ken
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