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Fed study: Tax hikes, not spending cuts, are slowing the recovery
The San Francisco Fed does note that after the recovery began "fiscal policy sharply reversed course"." Looking ahead, the Fed does see fiscal policy slowing growth, but not, as liberals would have you believe, due to spending cuts.
Surprisingly, despite all the attention federal spending cuts and sequestration have received, our calculations suggest they are not the main contributors to this projected drag. The excess fiscal drag on the horizon comes almost entirely from rising taxes. Specifically, we calculate that nine-tenths of that projected 1 percentage point excess fiscal drag comes from tax revenue rising faster than normal as a share of the economy.
So the next time a liberal complains about austerity, be sure to ask them which of Obama's many tax hikes they want to repeal first.
Can't wait for Obamacare taxes to fully kick in. Then we can really expect a slowdown.
This is a common theme amongst any body taking a look at the "recovery". The moonbat league versions play with the numbers in an attempt to make them look better than what it really is but, in the end, they have kept the average worker in suffering and pumped and continue to pump billions per month into corporate donors pockets.
Moonbats should be outraged but they can't see past their love for Dear Leader. They continue to hope that everyone, including the Middle East and Europe is wrong. This administration has made the U.S. the laughing stock of the world due through absolute incompetence.
Who in their right mind thought this recovery was going to be easy or fixed overnight? I figured it would take us at least a decade to repair the damages that were done, as well as cope with the baby boomers hitting retirement.
Who in their right mind thought this recovery was going to be easy or fixed overnight? I figured it would take us at least a decade to repair the damages that were done, as well as cope with the baby boomers hitting retirement.
Are you still trying to find a town prospering due to all of the welfare boosts it received? With your sense of economics, a decade is far too kind..
Not one to defend Obama at any level, but he aint the one voting policy. Both sides are doing all they can to disrupt the other side rather than trying to meet in the middle for the good of the nation.
Are you still trying to find a town prospering due to all of the welfare boosts it received? With your sense of economics, a decade is far too kind..
LOL, Nancy Pelosi - Welfare and food stamps are an economic stimulus. Any lie to support her cause. I wouldn't want to live in a town dependent on welfare would you?
This is a common theme amongst any body taking a look at the "recovery". The moonbat league versions play with the numbers in an attempt to make them look better than what it really is but, in the end, they have kept the average worker in suffering and pumped and continue to pump billions per month into corporate donors pockets.
Moonbats should be outraged but they can't see past their love for Dear Leader. They continue to hope that everyone, including the Middle East and Europe is wrong. This administration has made the U.S. the laughing stock of the world due through absolute incompetence.
It would have been funny to watch Liberals and Democrats when they heard Joe Scarborough say the unspeakable on MSNBC when he admited that senior Democrat senators, committee chairmen even, have personally told him that they think Obama is incompetent...
Portal Seven | U6 Unemployment Rate
U6 unemployment is down to 13.9, from the peak of 17.1 in late 2009. That's a small drop, and still around 5-6 pts. higher than prior to the crash. If this is the new normal, we are clearly doing something wrong.
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