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Old 11-07-2012, 03:54 AM
 
Location: Great Falls, Montana
4,002 posts, read 3,898,383 times
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The debt will be around 21 trillion .. Unemployment will be around 9.5% .. The price of gas will be around $6.00 gallon, inflation will be roughly 18%, and the prime lending rate will be around 20%
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Old 11-07-2012, 03:57 AM
 
628 posts, read 1,313,186 times
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Quote:
Originally Posted by RD5050 View Post
Will the Republican controlled House continue to block all attempts to fix the economy, and refuse to work with Obama, just like they did during the past two years?

If so ... you may get your wish!
I hope there is no gridlock for all our sakes BUT working with Obama doesnt mean giving him what he wants...it means compromise and that compromise cant be solely on Obamas terms. So while the congress needs to move in his direction....he needs to move in theirs also. Although many like to say that was done last session by Obama....it wasnt enough. Congress wont agree to tax increases until there are real spending cuts in place that start today; not 10 years from now.

21 Trillion Debt
9.5% Unemployment
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Old 11-07-2012, 03:59 AM
 
Location: San Diego
5,319 posts, read 8,968,163 times
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Quote:
Originally Posted by Oldhag1 View Post
Do you not find it ironic that things started to improve in the economy, slow as it may be, once the Republicans started blocking Obama and the Democrats? Just saying.
Actually ... the economy started to improve long before Republicans took control of the House in Jan 2011.

Unemployment peaked in Oct 2009 and began it's downward trend:


Bureau of Labor Statistics Data

The stock market bottomed in March 2009 ... and continued straight up.

So what was this again about House Republicans being responsible for the improved economy?
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Old 11-07-2012, 06:24 AM
 
4,097 posts, read 4,131,011 times
Reputation: 2056
Quote:
Originally Posted by Vizio View Post
And will it still be Bush's fault?



I predict $23 T, 6.7% and yes---it will be W's fault.
Are we talking official unemployment from the government?

Then it will be 0%. Unemployment benefit run out for everyone. If you are not on unemployment, you are not on unemployment.
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Old 11-07-2012, 07:01 AM
 
Location: Currently living in Reddit
5,652 posts, read 6,965,116 times
Reputation: 7323
I suppose the bright side is that we were underwater during WWII and it got better with each administration from Ike to Carter. Every administration since Carter has spent like drunken sailors save Clinton.

Reagan/GHWB averaged almost 2% per year debt growth to GDP. Clinton averaged 1% per year the other way, then W went hogwild on spending, averaging 4% debt growth to GDP per year (especially bad in 2nd term) and Obama continued that.

In a best case scenario, even in the economy boomed, it's unlikely Obama could bring this ratio back down to 2008 levels. This is going to take decades to get back to Clinton levels, and I doubt we'll ever see debt ratios like Nixon/Carter again.

You can already see the start of a leveling off from the chart. My guess is that deficit growth slows down because it has to, but it'll still be bumping $19-$20 trillion at end of 2015 and the debt ratio will still be more than 100%. I doubt we see a huge drop in debt/GDP ratio until the boomers are through Medicare and dead. So probably another 30 years before the US can even think about getting back below 90%.

e-of-gdp.png
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