Obama; "refining" his position on Bush tax cuts (unemployment, interview)
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"Even if we're still in a recession, I'm going to go through with my tax cuts," Obama said. "That's my priority."
Barry, barry, you idiot. We are not in a recession. Why can't your 300+ advisors brief you better than that? Wouldn't that be the perfect follow-up question for a true reporter?
Quote:
WASHINGTON (AP) - Democrat Barack Obama says he would delay rescinding President Bush's tax cuts on wealthy Americans if he becomes the next president and the economy is in a recession, suggesting such an increase would further hurt the economy.
Nevertheless, Obama has no plans to extend the Bush tax cuts beyond their expiration date, as Republican John McCain advocates. Instead, Obama wants to push for his promised tax cuts for the middle class, he said in a broadcast interview aired Sunday.
By Greg Morcroft (http://www.marketwatch.com/news/mailto.asp?x=103+109+111+114+99+114+111+102+116&y= Greg+Morcroft&z=marketwatch.com&guid=%7B46d1439e-a2c4-418c-9be0-09be0b9ee60d%7D&siteid=bnbh - broken link), MarketWatch
Last update: 4:34 p.m. EDT Sept. 6, 2008
SAN FRANCISCO (MarketWatch) -- The Treasury Department is expected to announce as early as this weekend a plan to bail out and recapitalize collapsing home mortgage giants Fannie Mae and Freddie Mac in one of the biggest government rescues in U.S. history.
By Amy Hoak (http://www.marketwatch.com/news/mailto.asp?x=97+104+111+97+107&y=Amy+Hoak&z=market watch.com&guid=%7B21015c68-edcf-4e8b-bb4e-4259c721f9c1%7D&siteid=nwhreal - broken link), MarketWatch
Last update: 12:16 p.m. EDT Sept. 5, 2008
CHICAGO (MarketWatch) -- The rate of mortgages entering foreclosure hit another record high in the second quarter, as did the percentage of loans somewhere in the foreclosure process, the Mortgage Bankers Association reported on Friday.
The delinquency rate, a measure of mortgages with at least one overdue payment but aren't in foreclosure, also was the highest ever recorded in the 39-year history of the MBA's quarterly survey.
We'd better start looking at some solutions soon, this habit of ignoring problems is becoming just a little annoying, and it would be good to have the Politicians running for office address them.
I know! The nerve of Barry to say we are in a recession when it is clearly a "mental recession" and the government bailing out Fannie/Freddie is just a figment of our imagination and unemployment rates skyrocketing +our increasing national debt are just fairytales.
In your world, I guess you don't try to steer the ship around the iceberg before it crashes. Nope, it just 'full steam ahead', no matter the cost.
It is just fascinating to me how you can pick at every 'contradictory' comment that Sen. Obama makes while completely ignoring the many times your candidate has changed his position or misspoken since he ran for office in 2000. How do you defend or explain that?
Why did everyone at the RNC appear to have blinders on with regard to the economy? Oh, I know. People who can afford to spend $300K+ on one outfit, probably don't have to swipe their own debit cards at the gas pump. People who earn $21,000,000 severance packages don't shop for their own groceries.
According to all of the news reports, the number of jobs lost last month is the prime indicator of a recession. If Sen. McCain today announced that we are in recession, would you believe it then? Why?
I long for a president who can 'refine' a position based on the realities of the marketplace. I want a president who is a mature, critical thinker who analyzes all data and then makes a reasoned, intelligent choice even if the final decision is different from the original one. Flexibility is not weakness.
If Sen. McCain today announced that we are in recession, would you believe it then? Why?
If economists showed a quarter or two of recessive growth we'd be in a recession. No economic expert has stated we are in a recession because, well, we are experiencing growth. The only dolts that throw about "recession" are clueless media shrills and the Obama campaign.
To be sure, there are economic issues. Home lending market. Stagnant middle class income. Local areas of concern. Just not a country wide recession. . . to date. Basic economic stuff that Obama doesn't appear to understand.
You know, it just amazes me the myoptic view of an economy some people have. Do you know how long the housing market has been BOOMING - at least 10+ years that I recall - Phenomenal appreciation on homes values - they have to pullback every once in a while or no one would be able to buy a home.
A 6.1% umemployment rate is not indicative of a crisis in unemployment.
I realize some of you started life in the late-eighties and nineties so you have no frame of reference for what is good, bad, and truly ugly in terms of an economy.
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Nothing to see here folks, none of these things happen in recessions.....keep it moving
