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In order to combat the worst economy in 80 years (the inherited Bush economy) and avoid complete economic collapse, follow the advice of essentially every economist and temporarily slash taxes while increasing spending in an effort to stimulate the economy. He did, and it worked wonderfully - economic collapse averted.
After the economy is stabilized, shift the tax burden a bit (more towards the wealthy) - the net result being a modest overall tax increase, and then decrease spending. That's what he's promised to do, and everything indicates he will - letting the Bush tax cuts expire, discretionary spending freeze for 3 years starting this fiscal year.
Seems like a great plan to me. Keep up the good work!!!
I don't like this definition because he inherited an economy with a 7.7% unemployment rate. Since then, it's averaged 9.4%. I wouldn't consider that a success.
Germany did the exact opposite of Obamanomics. They decreased the incentive to be employed and increased employers incentive to keep people. Their unemployment rate is now at an 18 year low.
In order to combat the worst economy in 80 years (the inherited Bush economy) and avoid complete economic collapse, follow the advice of essentially every economist and temporarily slash taxes while increasing spending in an effort to stimulate the economy. He did, and it worked wonderfully - economic collapse averted.
Lets not forget that this was also an extension of what the previous REPUBLICAN administration had already been doing. It's only bad when the black president does it though.
I don't like this definition because he inherited an economy with a 7.7% unemployment rate. Since then, it's averaged 9.4%. I wouldn't consider that a success.
People either don't pay attention or are just stupid.
When Obama took office OUR ECONOMY WAS ABSOLUTE GARBAGE. Obama constantly said that the economy would get worse before it got better (it did), and that the recovery would be measured in years not months (clearly the case). I don't know where people got that idea that Obama could take office, waive a magic wand, and that the horrible situation he inherited would then be instantly fixed.
I'm amazed the unemployment rate is as low as it is. Without the success of the stimulus it would probably be double what it currently is. I'm amazed the economy is growing right now. I'm amazed that the private sector has added jobs 9 straight months now.
In case you haven't seen the trend in private sector job loss/gain since the Great Bush Recession began, here it is:
Good job Obama. Keep up the good work, and let's start combating the deficit.
Last edited by hammertime33; 11-01-2010 at 12:41 PM..
People either don't pay attention or are just stupid.
When Obama took office OUR ECONOMY WAS ABSOLUTE GARBAGE. Obama constantly said that the economy would get worse before it got better (it did), and that the recovery would be measured in years not months (clearly the case). I don't know where people got that idea that Obama could take office, waive a magic wand, and that the horrible situation he inherited would then be instantly fixed.
I'm amazed the unemployment rate is as low as it is. Without the success of the stimulus it would probably be double what it currently is. I'm amazed the economy is growing right now. I'm amazed that the private sector has added jobs 9 straight months now.
In case you haven't seen the trend in private sector job loss/gain since the Great Bush Recession began, here it is:
Good job Obama. Keep up the good work, and let's start combating the deficit.
fall of 2008, the markets and business were "pricing in" obamanomics. Those are more his than Bush's.
Obviously you know markets are fairly efficient and the job market is tied closely
Economic philosophy characterized by massive increases in government spending, government run healthcare, and thousands of pages of regulations. Obamanomics was designed to improve economic conditions in the United States, but actually had the opposite effect as unemployment rose from mid 7% to over 10%. (while other countries such as Germany’s unemployment rates fell to 18 year low during the same period)
People either don't pay attention or are just stupid.
When Obama took office OUR ECONOMY WAS ABSOLUTE GARBAGE. Obama constantly said that the economy would get worse before it got better (it did), and that the recovery would be measured in years not months (clearly the case). I don't know where people got that idea that Obama could take office, waive a magic wand, and that the horrible situation he inherited would then be instantly fixed.
I'm amazed the unemployment rate is as low as it is. Without the success of the stimulus it would probably be double what it currently is. I'm amazed the economy is growing right now. I'm amazed that the private sector has added jobs 9 straight months now.
In case you haven't seen the trend in private sector job loss/gain since the Great Bush Recession began, here it is:
Good job Obama. Keep up the good work, and let's start combating the deficit.
lets focus more on obsure employment statistics.
Bottom line it's about the unemployment rate stupid.
But it seems that voters aren't willing to EVER sacrifice anything. They want to use credit cards to pay for items they don't need with money they don't have and for that debt to be erased once it's due.
They want to be able to buy homes they can't afford with false income statements, pay for upgrades on those homes with- you guessed it- credit cards since they don't have the cash to pay for said upgrades and then have the government force the banks to forget about their debts when the time comes for their home to be forclosed on.
They want to be able to go on unemployment as long as they can't find a job that pays as well as the one that they lost and still expect social security when they reach retirement age.
They want low cost health insurance that covers EVERYTHING, including drugs, but they don't want to pay higher taxes in order to have universal health care.
They want to pay low prices for goods made by foreign slave laborers in mega stores while complaining about how their small businesses fail because they don't get the same tax breaks as big corporations.
They want to blame illegal immigrants for stealing jobs that they wouldn't do for the wages offered while picking them up at home improvement stores to work on their homes or hiring them to clean their homes and raise their children.
They want to blame the school systems for failing them while they never set foot in a classroom after high school.
They want to get a free college education when their GPA has been a consistent 2.0 throughout their life.
They want their politicians to denounce everyone who is not christian, straight, white, born in the U.S. or speaks English with an accent rather than concentrate on real issues.
They want taxes to stay down and go on an uproar over pennies that could be spent on health care, education and the infrastructure while ignoring the billions that are spent on the defense industry.
They rally and protest when taxes are spent on the poor while they allow their cities to tax them in order to have sports teams.
Wake up people. The problem isn't the republican party or the democratic party or the tea party. The problem is the people they pander to.
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