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Anybody who can read and think knows this. Since approx 10% of the non-stimulus has actually been spent, it has had no effect - yet.
First quarter GDP was revised by almost 1% , down 6.4%, the worst number in 27 years.
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But others expect the figures to be revised downward in the future. They point to an 8.9% contraction in business spending and a 7% decline in hours worked, which doesn't mesh with a mere 1% decline in GDP.
People are not spending and are likely to continue that behavior as long as the threat of obama's massive tax increases are looming.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,756,161 times
Reputation: 3587
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Originally Posted by Motion
Analyzing this current rebound.
The stimulus was designed more for the longer run of keeping the economy running and making the country more efficient. The Obama tax cuts were designed to get us out of the doldrums we are in now.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,756,161 times
Reputation: 3587
Quote:
Originally Posted by sanrene
Anybody who can read and think knows this. Since approx 10% of the non-stimulus has actually been spent, it has had no effect - yet.
First quarter GDP was revised by almost 1% , down 6.4%, the worst number in 27 years.
People are not spending and are likely to continue that behavior as long as the threat of obama's massive tax increases are looming.
What "massive tax increases"?? You mean on millionaires? Ohhhh the poor rich! I just want to cry! They might now spend as much in Saks Fifth Ave as they once did! I read that these poor stores are now even allowing customers who are wearing JEANS to enter the store!! Ohhh my gawd! The poor rich!!!! Making the rich be around people that are wearing JEANS??? What next?? Will the RICH be forced to ride public transportation? Or - Gawd forbid- drive themselves to the stores???? Oh my Gawd! What are we doing to the rich???Recession Causes Upscale Stores to Drop the Haughty Attitude
But for everybody else Obama has given you a tax CUT!
The Obama tax cuts were designed to get us out of the doldrums we are in now.
That was a cut in the RATES - which amounts to about $13 bucks a week. That will not get you out of any doldrum.
Obama and his "uniquely qualified" team went around claiming an immediate jolt to the economy if the bill was passed. They promised it would keep UE under 8%. They promised a lot, none of which has come true for the simple reason of what many were saying at the time - it was not a stimulus bill, but just another dem/lib bill filled with favorite pet projects.
But for everybody else Obama has given you a tax CUT!
Where? There were no tax cuts - just rate reductions that lowered your weekly tax liability, which is in no way stimulative.
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What are we doing to the rich???
If the "rich" stop spending and hiring, we are in really deep trouble.
See, when a population curbs their spending en mass, stores stop hiring/start firing, orders for more goods stop, people that make those goods stop production and start firing/shutting down. It's a vicious cycle.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,756,161 times
Reputation: 3587
Quote:
Originally Posted by sanrene
Where? There were no tax cuts - just rate reductions that lowered your weekly tax liability, which is in no way stimulative.
If the "rich" stop spending and hiring, we are in really deep trouble.
See, when a population curbs their spending en mass, stores stop hiring/start firing, orders for more goods stop, people that make those goods stop production and start firing/shutting down. It's a vicious cycle.
The rich will hire when there is work to be done. Lord knows they don't want to do it themselevs! And there will be work to be done when regular people start spending money again. And regular people will start spending money again when they get out of debt and get some money in our pockets to spend.
Ayep...but let the useful idiots keep braying on about how things are getting better(actually what they really mean is things are getting worse more slowly)...
They will never admit the truth,they bought into the lies.
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