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And the economy continues to get stronger under Obama!
Thank you republican congress!
As I have said before (like with Clinton), the republican congress will make Obama look good and may be his best chance for re-election. Had Obama been able to continue with his plan unabated and with the help of the democratic congress, there is no way in hell that he would be re-elected. Given that the republicans have been, and will be able, to derail his rampant spending, they will make him look relatively competent.
So...since the recession ended, since obama's stimulus went into effect...we have lost around 3-4 million jobs.
Great news.
Only AFTER the deals he was forced to make with the GOP, did we see the UE numbers get better.
Doing nothing?
You mean...the tax hikes that were SET TO GO INTO EFFECT Jan 2011 was doing "nothing"?
The GOP prevented that from happening.
If the repeal of Bush Tax Cuts for the Rich had ACTUALLY HAPPENED, and we then suddenly had a major DROP in job growth, then yes, you could blame the repeal.
But to say that by DOING NOTHING (i.e. keeping taxes exactly what they have been for the past two years), that this had an effect on job growth makes ABSOLUTELY NO SENSE whatsoever!
You actually would like to believe that, wouldn't you?
How can DOING ABSOLUTELY NOTHING DIFFERENT, suddenly make a difference in job growth?
Extending the tax rates was nothing more than continuing EXACTLY the same policy as it has been for the past two years.
Because for a long time Obama left business owners up in the air. He wanted to hike taxes, as well as stifle business growth with Cap and Trade and costly Obama Care. Obama's other brilliant idea was to have businesses issue a 1099 for any transaction over 600.00, no company would profit by submitting all that busy paperwork to the government.
A CONTINUATION of tax cuts means they have EXACTLY the same money as they have had for the past two years.
So how could DOING NOTHING DIFFERENT make a sudden DIFFERENCE in job growth?
That logic makes absolutely NO SENSE.
Businesses were sitting on hoards of cash in 2010 and the savings rate among individuals had also risen. This was in anticipation of a deadlock in Congress and no extension of the tax cuts. Once the tax cuts were extended in December 2010, business investment increased, personal savings have been reduced, and personal spending has risen. As a result, more jobs have been created and more individuals are spending than in all of 2010 combined.
Now that the tax cuts have been extended, there is less pessimism. Companies planning to expand in 2011 and 2012 cited tax policy status quo as their incentive for resuming spending. Individuals in the Gallup survey also cited renewed economic confidence based on the tax rate extensions. The uncertainty has been removed and growth can resume.
...and I really wouldn't bring up deficit spending.
Unemployment rose to 8% by the time Bush left office.
Obama has had to deal with every economic issue left to him by the Bush administration, including a backlog of homes waiting to be foreclosed.
Obama also had to deal with lots of companies that went bankrupt during the final months of Bush.
So to have unemployment currently just 1% higher than when Obama took office, says a LOT about how Obama has managed to CONTAIN the Bush Disaster ... in just two years!
And as far as deficit spending ... who started a TRILLION DOLLAR WAR in 2003 ... and didn't bother raising taxes to pay for it?
Take a look at how many TRILLIONS our NATIONAL DEBT rose as a result of Bush's DEFICIT SPENDING!
Businesses were sitting on hoards of cash in 2010 and the savings rate among individuals had also risen. This was in anticipation of a deadlock in Congress and no extension of the tax cuts. Once the tax cuts were extended in December 2010, business investment increased, personal savings have been reduced, and personal spending has risen. As a result, more jobs have been created and more individuals are spending than in all of 2010 combined.
Now that the tax cuts have been extended, there is less pessimism. Companies planning to expand in 2011 and 2012 cited tax policy status quo as their incentive for resuming spending. Individuals in the Gallup survey also cited renewed economic confidence based on the tax rate extensions. The uncertainty has been removed and growth can resume.
But for the consumer..their spending is coming from a growth in debt.
They have pulled back out the credit cards.
Credit card debt increased almost $2 billion in March.
Non revolving loans increased almost $4 billion in March. Federal Reserve: Consumer Borrowing Continues to Rise
Location: In a Galaxy far, far away called Germany
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Please. You would have us believe that there are more jobs out there? That jobs are being created that can support a person? I've been looking for jobs in the IT field (other than the one I have) and the few jobs that are out there are now paying as much as 10K a year less than they were 2 years ago. Equal the job openings to the jobs lost and lets see that number. This economy is not getting better - but unlike all you Democrat vs Republican-two-party-knuckle-heads, I don't look to a president to solve that. Anyone with half of a brain knows that a president can't do that. They can help by getting the hell out of the way and that is it. Leaving it up to them will just get you numerical gymnastics to be used for their re-elections and nothing of substance.
Job growth is happening because businesses are doing BETTER than they did last year.
Company after company is reporting growth.
The TAX CUT extensions are not the reason.
Businesses are doing better, because Obama contained the Bush Economic Disaster, through his stimulus, and other economic policy decisions.
The stock market has been steadily rising since March 2009. That is TWO SOLID YEARS of growth.
And with this growth, comes a return of hiring new employees.
THAT is the reason we are seeing companies hire again ... not because of Tax Cut Extensions.
All these Tax Cut Extensions are doing, is adding MORE MONEY to our National Debt, because the government isn't collecting enough taxes to pay for the services it provides.
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