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CBO anticipates that the current recession, which started in December 2007, will last until the second half of 2009,
making it the longest recession since World War II. This recession, however, may not result in the highest unemployment
rate. That rate, in CBO’s forecast, rises to 9.2 percent by early 2010 (up from a low of 4.4 percent at the end of 2006) but is still below the 10.8 percent rate seen near the end of the 1981–1982 recession.
Quote:
The timeliness of fiscal stimulus is critical. Ideally, the
economic effects of the stimulus should match the
period of economic weakness.
Do you really believe the hyperbole that to get out of massive debt, you must spend, spend, spend? Do you know of any family in debt that has applied that strategy? Any business? Any state? Any time at all where that has worked?
Take a public finance course sometime. Anything...something off the back of a matchbook cover. You're so far out of the loop, anything would be of value to you at this point.
Oh, and by the way...
Components of GDP:
Personal Consumption Expenditures (in the tank)
Gross Private Domestic Investment (in the tank)
Net Exports (not helping)
Government Consumption and Investment (Hint, hint, hint)
That's all...there isn't anything else.
CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net.
But your neat little propaganda piece doesn't list the expected increase in comparison.
The expected increase is up to 4.1% in 2009
up to 3.6% in 2010
up to 1.2% in 2011
As of February 4th CBO director's blog.
Which is bigger.
a possible decrease of up to 0.3%
or
an increase of up to 4.1%, and 3.6% and 1.2%
And since you appear to be arguing (or simply uninformed) that the up to 0.3% decrease is more significant than increases of 4.1, 3.6 and 1.2 I have to wonder at which point in elementary math did you stop paying attention.
Mmmm we are talking cost containment in healthcare, every provider is taking a hit yet they wanted to keep the doctors whole. Now why would they want to do that? LOL.
So far from reality. The annual override is the equivalent of the annual AMT patch. An affect of legacy legislation that no one actually wants to see actualized. The Dems in this case did not just let it go, they pushed it over the edge. How could that have happened...
Are you talking about Jim Kramer?
Which conservative fringe economist thought unemployment would approach 10% as of January 2009?
Because Joe the Plumber claiming "things are gonna be bad pa, real bad" doesn't carry any weight.
Where in my post did I say 10% ?
Where in my post did I say "conservative fringe economist" ?
That's what people who go against the grain are called by the public .."lunatics" or "delusional". By fringe I did not imply politics.
Do your own research. Any name I give you will be shot down immediately so I won't even bother. Those guys predicted this long before Obama's famous "won't go above 8%" chart came out.
Where in my post did I say 10% ?
Where in my post did I say "conservative fringe economist" ?
Your claim was that "Lunatics on the fringe" knew that the recession would be as bad as it got (we are real close to 10% UE, hence approach 10%).
And I thought it was mean that you used the term "lunatics", so I changed it to "conservatives". Sorry for the confusion.
Quote:
Do your own research. Any name I give you will be shot down immediately so I won't even bother. Those guys predicted this long before Obama's famous "won't go above 8%" chart came out.
Cramer is an idiot and only fools listen to him.
I don't want to shoot it down, I want to know if your claim has any merit.
Who is "those guys"?
Searching through results for "fringe lunatic predicts doom" is not going to happen, lol.
Who are the mystery men who knew the recession's depths 6 months in advance?
Here ya go..Biden admits that "EVERYONE guessed wrong" so that lets them off the hook for the out of whack unemployment estimations. I mean..it was "everyone" so how was the WH to know better ?
Biden-speak for back in January everyone was using the same best available data from November 2008, so yeah, everybody's projections looked low by comparison to what the actual data looked like months later. Doesn't matter who you pick...CEA, CBO, OMB, the Fed, the Blue Chip boys...the same effect is visible in everyone's projections.
Your probelm is that you can't manage to take a projection as a projection and use it for what it's designed for. You insist that it must be a prediction and so lead youself to all sorts of unwarranted conclusions. Well, perhaps YOU don't do that. More likely that you actually let some right-wing propagandist do it for you. Nice work...
Sure looks like more stimulus to one who is objective.
Actually, that's kind of hilarious. Tax cuts are no longer stimulative to the Left.
That's the very definition of a tax cut.
I think we get it - nothing about obama and his ruinous agenda is news to you.
Well, that's two democrats you hate and do not believe. President Obama, and Nancy Pelosi. Do you dislike all democrats, or just those two?
A tax cut is stimulus? Hmmm, I thought a tax cut was a tax cut, or a break for businesses. You are sooooo smart, I'll bet your board at your office has 9 million stars on it!
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