Where is the US economy headed?

I believe 100% that:

1) If Obama and the Congress would roll back and scrap the stimulus package right now. ...
2) If Obama and the Congress would announce that the Bush tax cuts would be left untouched for at least two years.
3) If Obama and the Congress would announce small across the board tax rate cuts in all categories and at all levels
4) If Obama and the Congress would pass a budget taking care of government obligations and necessities and not including one penny more. . . .

We would be out of the recession and booming again within 60 to 90 days or less and the U.S. treasury would be taking far less of a hit and the deficits will be far less than what they are projected.

Foxfyre wrote:

I believe 100% that:

1) If Obama and the Congress would roll back and scrap the stimulus package right now. ...
2) If Obama and the Congress would announce that the Bush tax cuts would be left untouched for at least two years.
3) If Obama and the Congress would announce small across the board tax rate cuts in all categories and at all levels
4) If Obama and the Congress would pass a budget taking care of government obligations and necessities and not including one penny more. . . .

We would be out of the recession and booming again within 60 to 90 days or less and the U.S. treasury would be taking far less of a hit and the deficits will be far less than what they are projected.

Wow. I've never seen such a display of financial ignorance. Truly.

Cycloptichorn

Cycloptichorn wrote:

Foxfyre wrote:

I believe 100% that:

1) If Obama and the Congress would roll back and scrap the stimulus package right now. ...
2) If Obama and the Congress would announce that the Bush tax cuts would be left untouched for at least two years.
3) If Obama and the Congress would announce small across the board tax rate cuts in all categories and at all levels
4) If Obama and the Congress would pass a budget taking care of government obligations and necessities and not including one penny more. . . .

We would be out of the recession and booming again within 60 to 90 days or less and the U.S. treasury would be taking far less of a hit and the deficits will be far less than what they are projected.

Wow. I've never seen such a display of financial ignorance. Truly.

Cycloptichorn

Unless you believe government spending will increase gdp, independent of stimulating business, then you would be right, but if you wish to check out the gdp's of government controlled economies, perhaps that might surprise you, cyclops. If government could pay itself its own taxes after it does everything for everybody, to support all of its spending, now that would be an interesting scenario, I would like to see how that works, cyclops.

And many universities like Stanford teach their students to become great entrepreneurs who in turn create some of the biggest businesses not only in the US but the whole world.

Government spending in many cases does, btw, increase GDP. Basic scientific research funded by the Government in labs and Universities all across the nation leads to practically all of our Applied research, which leads to products, which leads to profits for businesses. Amazing to me that you don't understand how our economy and economic development works on the most basic level.

Cycloptichorn

His research"consistent with similar studies"found that about one in four restaurants close or change ownership within their first year of business. Over three years, that number rises to three in five.

While a 60% failure rate may still sound high, that's on par with the cross-industry average for new businesses, according to statistics from the Small Business Administration and the Bureau of Labor Statistics.

Cycloptichorn wrote:

Government spending in many cases does, btw, increase GDP. Basic scientific research funded by the Government in labs and Universities all across the nation leads to practically all of our Applied research, which leads to products, which leads to profits for businesses. Amazing to me that you don't understand how our economy and economic development works on the most basic level.

Cycloptichorn

I think its a safe bet that business owners know a heck of lot more than you do, cyclops.

Is that why so many businesses fail? LOL

Our Modest Proposal, dear reader: sell the State of Florida to the highest bidder, preferably China. 50 States are simply no longer sustainable. But think of the bids that Florida would bring in! With a GDP of over $700 billion, we could easily get $50 trillion for it if you factor in all the capital in the state"at reduced, fire sale prices, of course. And the Chinese love Mickey. This is the only way to continue to fund our standard of living without going further and further down into the gyre of debt.

okie doesn't remember how our economy grew after WWII. During the war, most Americans earned money by working at factories building war machines like tanks, airplanes and ships. Americans had many forms of rationing, but they were working and earning income. After the war, new residential developments sprung up all over America funded through the demand from many who worked in American factories. That in turn created greater demand for consumer goods.

okie's knowledge of economics is zilch, nada, empty, zero.