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So what exactly is there to negotiate liberals? It's money we currently don't have. The gauntlet has been thrown, the credit cards are at their limits. The utopia is over with.
Everyone agrees the budget should be balanced. The negotiation, quite obviously, is how you balance the budget - i.e., how much of it comes over time from spending cuts vs. increased taxes.
BTW can you show me how the nearly $1 trillion stimulus did any stimulating? Obama and his string pullers said that they had to have that abortion of a law in order to keep unemployment below 8% and it hasn't been very close to that since they rushed it to passage. Do you remember how many of the 5 days he promised us for us to look at it he allowed before signing it? I am getting very tired of you people talking about government spending being so necessary to "spend" our way out of recession.
Obama allowed the stimulus plan to be reduced through negotiations and then too much converted to tax-cuts, making the plan too small for the size of the economy. Obama also was wrong about the effect. That said, to conclude it made no difference is inaccurate.
The ARRA was comprised of direct spending, aid to states, and *tax cuts*. Am I to understand you are now advocating against tax cuts? :lol:
This is the composition of the ARRA: Direct tax cuts (the largest portion, BTW, at 168 billion or 25%), business tax incentives, and state relief, accounted for 326.8 billion, which is 49% of the ARRA outlays.
This was a very conservative plan, to be honest. And in spite of the conservative nature, it created or saved (my guess is many were "saved", considering that the Federal government was paying so much state relief which ended up going to employees who would have been otherwise laid-off) 2.1 million jobs.
What one also must ask is, what stimulus? While the federal government was stimulating, state and local governments were cutting back, negating the effect of the federal program.
Goldman Sachs? Really? You're using GS for economic analysis now?? You know who they are and who they support, right???
When they're paid to perform analysis they support their reputation. If you have doubts about their methodology, please post.
If you actually read the article you would have read, "It would be a meaningful hit to GDP this spring and summer," said Mark Zandi, chief economist at Moody's Analytics, who has advised Republicans and Democrats."
AND:
Even the Republican adviser agrees it would be a hit, he just disagrees with the size:
Quote:
But Douglas Holtz-Eakin, a former director of the nonpartisan Congressional Budget Office who has advised Republicans, said the projections were excessive.
"It's way too high," he said. He estimated the drag on economic growth from the House-approved cuts at no more than 0.2 percentage point.
Thus, the Republican adviser said that a $65 billion cut in spending would result in a 0.2% cut to GDP. The Republicans now want to cut trillions. You do the math. According to this adviser, each billion in cuts represents 0.00307% reduction in GDP. That means that a trillion dollar cut would hurt GDP by over 3%.
Why did the Republican House just increase military spending? That's some major fail right there.
Not only did they increase military spending they voted down the end of subsidies to big oil companies.
The basic Republican strategy during this whole budget crisis is preserve the tax loopholes for corproate interest in the rich and cut spending that aids middle class and poor Americans.
A recent academic study on effective corporate rates -- what companies paid on average in major countries -- found the average was 22.5 percent in the U.S., and 19.8 percent to 21.5 percent in large European countries. In addition, U.S. corporations are never subject to the 35 percent rate on foreign source income that is kept overseas.
Right now the reason is largely that the Republicans can't make any compromises until the last minute due to the tea baggers thinking that they didn't drive a hard enough deal.
Obama allowed the stimulus plan to be reduced through negotiations and then too much converted to tax-cuts, making the plan too small for the size of the economy. Obama also was wrong about the effect. That said, to conclude it made no difference is inaccurate.
The ARRA was comprised of direct spending, aid to states, and *tax cuts*. Am I to understand you are now advocating against tax cuts? :lol:
This is the composition of the ARRA: Direct tax cuts (the largest portion, BTW, at 168 billion or 25%), business tax incentives, and state relief, accounted for 326.8 billion, which is 49% of the ARRA outlays.
This was a very conservative plan, to be honest. And in spite of the conservative nature, it created or saved (my guess is many were "saved", considering that the Federal government was paying so much state relief which ended up going to employees who would have been otherwise laid-off) 2.1 million jobs.
What one also must ask is, what stimulus? While the federal government was stimulating, state and local governments were cutting back, negating the effect of the federal program.
Now that you have told me what Paul Krugman said about that law how about dealing with the budget talk I wrote that post about. You have to know that we have been without a budget for nearly 2 full years and that has contributed so much to the deficit spending because they say the Congress has given the money to be spent.
I would like to see what your economists have to say about the budget and whether we need an annual budget or not. Harry Reid says we have done quite well without it. I think that is saying that anything Constitutional about how money is spent has to be one away with.
Obama allowed the stimulus plan to be reduced through negotiations and then too much converted to tax-cuts, making the plan too small for the size of the economy. Obama also was wrong about the effect. That said, to conclude it made no difference is inaccurate.
The ARRA was comprised of direct spending, aid to states, and *tax cuts*. Am I to understand you are now advocating against tax cuts? :lol:
This is the composition of the ARRA: Direct tax cuts (the largest portion, BTW, at 168 billion or 25%), business tax incentives, and state relief, accounted for 326.8 billion, which is 49% of the ARRA outlays.
Thoat 3 million part time jobs figure is a joke.
The ARRA was just politicians picking out winners and losers, it was not about stimulating the economy. Have you read some of the things the stimulus money went to, they were a haphazard, patchwork quilt of paybacks to cronies, vote buying schemes, and 0bama's presidency has been one giant stream of corny give-away schemes.
The ARRA failed to stimulate the economy, not because it was too small, but because it was conceived by, written by, and administered by democrats. Democrats think all that is good in life emanates from government, so 50% of the ARRA went to government, and the rest of it was a hodgepodge of vote buying schemes, paybacks, kickbacks and giveaways to democrat cronies and large cash infusions to liberal groups and pet projects.
The guy that owns a shoe manufacturing company or the person running a hair salon or auto repair shop did not benefit from the stimulus because the stimulus was about politicians deciding what parts of the economy was important, by picking the winners and losers.
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