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That is not what i asked. It was 0bama and the democratic party leadership that wanted to pass cap & trade lst year, and many still want to get it passed this year.
So do you think it would would be good for the economy, jobs, and the recovery to sign both cap & trade and the senate version health care plan into law now? While we are at it, would it be a good idea for the EPA to start regulating CO2 now?
The recovery is over, you missed it. Obama and friends are now just hoping for an economy that flounders but doesn't tank too badly. That's if the unemployment figures don't keep getting too bad. Winter has suddenly become a factor in unemployment, or haven't you heard?
Exceptional weather ALWAYS has an impact on employment - whether that exceptional weather be a particularly harsh winter or a particularly distructive hurricane.
Gee, we've had a recession and you're surprised tax receipts are down?
Get a clue - there is ALWAYS an increasing spread between government income and government outlay during ANY recession - ANY. That's the way it ALWAYS works, even in MILD recessions - let alone ones as SEVERE as we are just emerging from.
As the economy recovers government income will rise - once again as it ALWAYS does in ANY recovery.
snippet:
"While wages and other job-related income fell by a record $206 billion last year to $7.84 trillion, transfer payments from the government such as unemployment checks and Social Security burgeoned by $231 billion to $2.1 trillion.
Meanwhile, the amount of taxes that individual Americans paid plummeted by $325 billion to $2.1 trillion as a result of middle-class tax cuts and because nearly 6 million people were thrown out of work and are no longer paying payroll taxes."
snippet:
"While wages and other job-related income fell by a record $206 billion last year to $7.84 trillion, transfer payments from the government such as unemployment checks and Social Security burgeoned by $231 billion to $2.1 trillion.
Meanwhile, the amount of taxes that individual Americans paid plummeted by $325 billion to $2.1 trillion as a result of middle-class tax cuts and because nearly 6 million people were thrown out of work and are no longer paying payroll taxes."
None of that surprises me at all. It's been an horrendous recession - worst I've seen in my lifetime (and I'm an old fart). As the following quote points out, it would have been a WHOLE lot worse without the government stepping in:
"Governmental support was critical in keeping the economy, particularly consumer spending, from completely collapsing during the crisis"
I also agree with the author that it's unsustainable - of course it's not meant to be a permanent situation, just a stopgap to speed the recovery along.
"Governmental support was critical in keeping the economy, particularly consumer spending, from completely collapsing during the crisis"
Ken
I wouldn't use past tense just yet..government support IS still needed today and probably for quite some time into the future. The jobs won't materialize overnight and will probably take twice as long to come back as they left.
LoL, people will keep saying "Don't worry, it will go to hell real quickly...just you trust me".
Some people have been saying it since 1984, so why would reality stop them now?
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