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Ken, it IS getting worse, our debt is out pacing our GDP daily.
Do you know where we rank internationally in terms of debt and GDP. I'll give you a hint, it's definitely not 1. Additionally some of those countries ranked higher might suprise you.
I don't think your definition of "jump start" is particularly accurate. We know for a fact that jobs created or saved by he stimulus are miniature bubbles in and of themselves. A one time boost to a construction company does not necessarily translate into a "jump start" of sustained work for that company. Unemployment figures are proof positive of this fact. I find it difficult to understand why you make fun of those that say the stimulus will have no desired effect, when in fact, the desired effect is a susustained job recovery. There is absolutely no evidence of that, thus, the stimulus is indeed having no effect. Your rosy view of things is very odd.
That must be why EVERY major country is doing it eh - because it has NO effect?
Right.
Look - the purpose of the stimulus is to pump money back into the economy to get it moving again - to create jobs (either directly or indirectly) so that those people will spend again. Once they spend again, then THAT money creates MORE jobs.
The underlying purpose is to help remove the fear that permeates the economy and rebuilt confidence so that people and businesses begin to spend again. Upward and downward cycles both tend to feed upon themselves and become self-fulfilling prophecies - it works BOTH ways. When people are afraid, they don't spend (this goes for businesses as well as consumers), when they don't spent the economy faulters - which increases fear - it's like a feedback loop. The same thing is true in reverse - when money is pumped into the economy by government stimulus it provides jobs - which initiates spending (by both businesses and consumers) - which then provides more jobs - which then eases fear - which then bolsters spending - which then creates growth in the economy.
You have been disproven in all of your arguments, yet you keep coming back. I want you to remember this thread in a few years. IF things stay on track, this is what will happen:
GDP will stabilize and increase (which is happening)
Jobs will start to be created (anticipated to begin happening next year)
Deficit will be paid down (if our government is worth anything, but I think Obama knows his re-election rests on paying it down and he's committed to cutting it in half by the end of his term).
You can harp on employment and the deficit for the next couple years without ever realizing that it's not time to deal with them yet. Or, you can accept the process of recovery and see that all indications suggest it's on the right track.
You should be proud of our country, but instead you act as if what we're doing is unprecedented. Every other country has done the same thing and are in full recovery!
You haven't proven anyone wrong. You are blindly following the words of propped up companies. Of course they are going to say that they plan on hiring, that's what the WH and the country wants to hear. How many times do you need to be mislead before you are skeptical about what the big players tell you? It is time to deal with employment and deficit NOW! What is more important to deal with? Fattening the wallets of the big banks and whatever WH cronies are being given money? What is more important? NOTHING! I guess you just don't understand that the American economy is based on consumer spending. If there are no jobs, there will be no spending, therefore there will be NO LONG TERM RECOVERY! Get it?
Actually, the spiral is just as self-reinforcing on the way up as it is on the way down. You might need to go rummaging for a new thesis. None of which is to say that we are somehow out of the woods. We are not. The road back is still long and arduous, and there will be setbacks along the way over which the moron right-wingers can jump up and down in their collective anti-Obama glee. But this is a milestone that we were looking for, and now it has been passed.
That is a forecast, nothing concrete about anything. I guess they have a crystal ball?
This from people who forecast Armageddon as the result of an Obama adminstration before there even was one. What a hoot of consistent inconsistency you people are...
If Obama found a cure for cancer, the right wing would be jumping up and down asking how on earth are we going to pay for all of these cancer survivors or they will say that it is just a temporary cure and they will all suddenly die in the next 6 months. This bash the President, no matter what he does, is now getting beyond dumb and decrying this piece of good news just proves how nothing is going to please the right wing nuts.
That must be why EVERY major country is doing it eh - because it has NO effect?
Right.
Look - the purpose of the stimulus is to pump money back into the economy to get it moving again - to create jobs (either directly or indirectly) so that those people will spend again. Once they spend again, then THAT money creates MORE jobs.
The underlying purpose is to help remove the fear that permeates the economy and rebuilt confidence so that people and businesses begin to spend again. Upward and downward cycles both tend to feed upon themselves and become self-fulfilling prophecies - it works BOTH ways. When people are afraid, they don't spend (this goes for businesses as well as consumers), when they don't spent the economy faulters - which increases fear - it's like a feedback loop. The same thing is true in reverse - when money is pumped into the economy by government stimulus it provides jobs - which initiates spending (by both businesses and consumers) - which then provides more jobs - which then eases fear - which then bolsters spending - which then creates growth in the economy.
It's not that hard to understand.
Ken
Every major country is not doing what we are doing. Don't you remember when Obama got laughed at when he asked the major players in the world to buy into the bailouts and stimulus? Remember that? Remember how other countries like Germany and the UK said we were nuts for printing so much money and spending like drunken sailors? They know what happens when you do that and didn't want any part of it.
Regarding the GDP report:
The Bureau emphasized that the third-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see the box on page 5). The "second" estimate for the third quarter, based on more complete data, will be released on November 24,2009.
Just to note that this is boiler-plate language that -- except for revising the pertinent dates -- appears in every advance GDP press release, whether it goes up, down, or stays the same.
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