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When the republican party regains control in 2012, then they can run the country anyway they see fit, big tax cuts for the rich, a huge deficit left by democrats, and probably a couple of wars to deal with. Fair is only fair. Then we will all see how a republican president deals with the full plate. Hopefully, we'll be in a recession at that time too, just to add dessert.
Now here's a question to ponder...if incomes are down how the heck is savings up ?
And that (savings up) coming from the same agency..BEA.
Personal income is down because savings are up. QE QE QE (Quontitative Easing) Extra cash to the rescue. But it would've been far more effective if given to everyone. And it would've been faster as well.
I think it's because under this administration, the middle class is getting poorer but the rich are getting richer. They have more to save because the cheap labor from exported jobs and imported cheap workers is benefitting a few very nicely.
Seriously? Under this administration? Did you feel the same in 2008?
America's rich get richer thanks to tax-cutting Bush - Americas, World - The Independent (http://www.independent.co.uk/news/world/americas/americas-rich-get-richer-thanks-to-taxcutting-bush-580533.html - broken link)
Seriously? Under this administration? Did you feel the same in 2008?
America's rich get richer thanks to tax-cutting Bush - Americas, World - The Independent (http://www.independent.co.uk/news/world/americas/americas-rich-get-richer-thanks-to-taxcutting-bush-580533.html - broken link)
But his main preoccupation was tax cuts for the rich. To convince us they were needed, he began repeating the phrase “bad economy,” starting months before he took office. This mantra, spoken by a President whose election had already caused uncertainty due to its controversy, was taken seriously by companies large and small. They stopped hiring and cut down on purchases, just in case he was right. President Bush created an economic crisis — just so he could get his tax cuts passed.
As his presidency dragged on, President Bush did nothing to control spending — in fact, he encouraged the most outrageous federal expenditures in our nation’s history. He vetoed practically nothing (other than a stem cell research bill that would have helped to save lives), allowing Congress to go wild with pork-filled legislation. Some economic analysts believe that the Bush Administration deliberately engineered the collapse of the U.S. economy.
Where is Lord Balfor to come and refute this nonsense?!!
Right here.
Personal income drops during a RECESSION?????
Who'd a' thunk it?
DUH!!!
Shall we see what personal income did in the final quarter of the year?
Hmmm... looks like it went up all 3 months - and in January as well. Maybe things are turning around eh?
Admittedly Disposable Income took a dip in January because of non-withheld income taxes (from 2009 I'd assume) so we'll have to see how all that plays out when the February numbers are released.
Kind'a like the GDP - started out the year way negative, finished up the year positive.
I LIKE IT!
Ken
Last edited by LordBalfor; 03-26-2010 at 01:28 PM..
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