114
   

Where is the US economy headed?

 
 
ican711nm
 
  -3  
Reply Tue 20 Jul, 2010 12:37 pm
FACTS NOT OBAMA DEMOCRAT FAIRY TALES
Year.......$FEDERAL OUTLAYS FINAL FULL YEAR OF TERM
1980......590,941,000 [CARTER]
1988….….1,064,481,000 [REAGAN]
1992......1,381,649,000 000 [BUSH41]
2000......1,789,216,000 [CLINTON]
2008......2,931,222,000[BUSH43]

2009......3,107,355,000 [OBAMA] (not final year of term)
plainoldme
 
  0  
Reply Tue 20 Jul, 2010 12:40 pm
@plainoldme,
i asked not too long ago how is that the Tea Party folks and the more mainstream Repubs hate Obama for "lacking executive experience" yet the Tea Totalitarians want all government officials voted out and replaced with newbies?

Does that make sense?
xris
 
  0  
Reply Tue 20 Jul, 2010 12:51 pm
@plainoldme,
The teabaggers , they will sell you any **** you think you might need. Times dont change.
xris
 
  2  
Reply Tue 20 Jul, 2010 12:54 pm
@ican711nm,
Ican post total irrelevant nonsense and think it makes an impression.Ican type in big letters too...
0 Replies
 
spendius
 
  1  
Reply Tue 20 Jul, 2010 12:55 pm
@xris,
Do you not have an Urban Dictionary xris?
xris
 
  0  
Reply Tue 20 Jul, 2010 01:02 pm
@spendius,
Not in my fine library no..leather bound first edition ,food for thought and its digestive consequence..but not an urban dictionary. Teabaggers my word for the modern trouble makers in the republican stronghold. Their carpets got thread bare.
spendius
 
  1  
Reply Tue 20 Jul, 2010 01:12 pm
@xris,
For those with a comprehensive library, and goodness gracious I might have to relocate mine soon, your original remark would have caused something of a titter and not one of contempt. It was very apt.
xris
 
  0  
Reply Tue 20 Jul, 2010 01:21 pm
@spendius,
My problem at this time of the eve, the red wine has a detrimental effect on my ability to post...Regrets ,Ive had few and in the morning much more than this but I did it my way.
plainoldme
 
  0  
Reply Tue 20 Jul, 2010 01:57 pm
@xris,
It's okay. We know you are not an AMerican but, in general, you know more about how American government works than some who have been here for generations. If you can't keep up with the fringe groups, who can blame you?
spendius
 
  0  
Reply Tue 20 Jul, 2010 03:05 pm
@plainoldme,
Anybody who doesn't know how every government works doesn't know how any of them do. It's the same with steam engines. And ladies.
0 Replies
 
ican711nm
 
  -2  
Reply Tue 20 Jul, 2010 03:16 pm
FACTS NOT OBAMA-DEMOCRAT FAIRY TALES
Year.......FEDERAL RECEIPTS ($trillions) FINAL FULL YEAR OF TERM
1980......0.517 [CARTER]
1988….….0.909 [REAGAN]
1992......1.091 [BUSH41]
2000......2.025 [CLINTON]
2008......2.662[BUSH43]

2010......2.955[OBAMA] (June and not final year of term)

FACTS NOT OBAMA-DEMOCRAT FAIRY TALES
Year.......FEDERAL OUTLAYS ($trillions) FINAL FULL YEAR OF TERM
1980......0.591 [CARTER]
1988….….1.064 [REAGAN]
1992......1,.382 [BUSH41]
2000......1.789 [CLINTON]
2008......2,902 [BUSH43]

2010......3,.049 [OBAMA] (June and not final year of term)

FACTS NOT OBAMA-DEMOCRAT FAIRY TALES
In 1980, total USA civil employment was 99 miillion.

In December of the following years, total USA civil employment:
2007, reached a peak of over 148 million [BUSH43];
2008, declined to less than 144 million;
2009, declined to slightly less than 138 million [OBAMA].

By June 2010, total USA civil employment was only slightly more than 139 million.


0 Replies
 
georgeob1
 
  1  
Reply Tue 20 Jul, 2010 03:33 pm
@plainoldme,
plainoldme wrote:

i asked not too long ago how is that the Tea Party folks and the more mainstream Repubs hate Obama for "lacking executive experience" yet the Tea Totalitarians want all government officials voted out and replaced with newbies?

Does that make sense?


You have misrepresented their position. The Congress has, over the past three decades gerrymandered itself into a situation in which few Congressional districts ever have seriously contested elections. As a result we have career representatives in the Congress who have become increasingly adept at misusing their powers to secure their positions. In our democracy it is experience in life that counts, not experience in governing - particularly for legislators.

Now that our Congress has given us a "deficit neutral" massive new health care entitlement, that has already shown itself to be far from dfeficit neutral; and enected a financial reform that intrudes in our lives in manifold ways but still entirely exempted Fannie Mae and Freddie Mac, the two institutions at the heart of the crisis that motivated the reform itself -- it is only reasonable for the electorate to want a new legislature.

In the president's case, the issue is that he lacks gravitas, the courage and wisdom to deal with long-term issues and occasionally rise above endless pandering to his political support groups. He's clearly an adept and experienced campaigner, however we need more than that.
0 Replies
 
plainoldme
 
  0  
Reply Tue 20 Jul, 2010 07:20 pm
Alan Grayson on the economy, the bill to extend unemployment benefits, bi-partisanship and more.

http://www.youtube.com/watch?v=bdKY6vE2iz8&feature=player_embedded
0 Replies
 
ican711nm
 
  -1  
Reply Wed 21 Jul, 2010 10:38 am
Quote:
FACTS NOT OBAMA-DEMOCRAT FAIRY TALES
Year.......FEDERAL RECEIPTS FINAL FULL YEAR OF TERM
1980......$0.517 trillion [CARTER]
1988….…$0.909 trillion [REAGAN]
1992.......$1.091 trillion [BUSH41]
2000......$2.025 trillion [CLINTON]
2008......$2.662 trillion [BUSH43]

2010......2.955[OBAMA] (June and not final year of term)

Year.......FEDERAL OUTLAYS FINAL FULL YEAR OF TERM
1980.......$0.591 trillion [CARTER]
1988….….$1.064 trillion [REAGAN]
1992........$1,.382 trillion [BUSH41]
2000.......$1.789 trillion [CLINTON]
2008.......$2,902 trillion [BUSH43]

2010........$3,049 trillion [OBAMA] (June and not final year of term)

Year……TOTAL US CIVIL EMPLOYMENT
1980……………..99 miillion [CARTER]
2000……………137 million [CLINTON]
2007………..….146 million [BUSH43]
2008………….. 145 million [BUSH43]
2009,……….....140 million [OBAMA]

2010.……………139 million [OBAMA] (June)

Year.…….PERCENT OF CIVILIAN POPULATION EMPLOYED
1980…………………………………….59.2 [CARTER]
2000…………………………………….64.4 [CLINTON]
2007…………………………………….63.0 [BUSH43]
2008…………………………………….62.2 [BUSH43]
2009…………………………………….59.3 [OBAMA]

2010…………………………………….58.5 [OBAMA] (June)

0 Replies
 
ican711nm
 
  -1  
Reply Wed 21 Jul, 2010 03:29 pm
@parados,
parados wrote:
You can't blame the Dems for a bill passed by the GOP.

Oh yes we can blame the Democrats for a bill passed by the GOP. We can blame the Democrats for not rescinding a bad part of a bill passed by the Republicans. We can blame the Democrats for not rescinding the 2010 tax bill's termination date. We can blame the Democrats for failing to make the bill permanent, or to extend the bill's current termination date. All the Democrats have to do with their current majority plus a Democrat president, is to pass and sign a law to continue the 2010 tax law beyond they year 2010.


I betcha you already knew that and chose to preach another OD (i.e., Obama-Democrat) fairy tale instead.
mysteryman
 
  1  
Reply Wed 21 Jul, 2010 04:03 pm
@ican711nm,
Ican, I know this is going to really make your day, but I am going to post it anyway.
How will you react to this news.
IMHO, its a smart idea on the dems part.

http://www.time.com/time/politics/article/0,8599,2005389,00.html


Quote:
Senate Democrats will soon advance a plan to make permanent President George W. Bush's 2001 tax cuts for middle-class Americans earning less than $200,000, but let the tax breaks for the wealthiest Americans expire, two Senate party aides said Tuesday. They will also propose to reinstate a 45% estate tax on individuals for the next two years
.




JPB
 
  1  
Reply Wed 21 Jul, 2010 05:11 pm
@mysteryman,
A 45% estate tax for two years? I can see lots of folks not wanting to pull their plugs for an extra 24 months.

0 Replies
 
JPB
 
  1  
Reply Wed 21 Jul, 2010 05:15 pm
@mysteryman,
Ok... I had to get some background.

Quote:
According to the IRS literature, an estate tax filing need only be made if the value of an estate exceeds the following amounts:

2005: First $1,500,000 in assets
2006-2008: First $2,000,000 in assets
2009: First $3,500,000 in assets

In addition, the maximum estate tax rate applied to the amounts in excess of these figures are as follows:

2005: 47 percent
2006: 46 percent
2007- 2009: 45 percent

In 2010, the estate tax rate drops to zero percent; if you die in that year, your heirs would not pay taxes, even if you passed on $20 billion!

One caveat: Congress ensured that the law sunsets in 2011. That is, on January 1st, 2011, the estate tax rate will return to its pre-Bush levels. Practically speaking, this means the difference between dying on December 31, 2010 and January 1, 2011 can mean 55 percent of your estate if you are person of means!


So... if they don't pass a new bill then the estate tax will return to 55% on January 1. They're proposing 45% instead. I wonder what the exclusion amount will be?
0 Replies
 
JPB
 
  1  
Reply Wed 21 Jul, 2010 05:39 pm
On a brighter note... (not)

Quote:
WASHINGTON — Federal Reserve Chairman Ben Bernanke told Congress on Wednesday the outlook for the economy remains "unusually uncertain" but that the Fed plans no specific steps "in the near term" to try to fuel the struggling recovery.


The recovery, which had been flashing signs of strengthening earlier this year, is losing momentum. And fears are growing that it could stall.

Consumers have cut spending. Businesses, uncertain about the strength of their own sales or the economic recovery, are sitting on cash, reluctant to beef up hiring and expand operations. A stalled housing market, near double-digit unemployment and an edgy Wall Street shaken by Europe's debt crisis are other factors playing into the economic slowdown.

"In short, it look likes our economy is in need of additional help," said the committee's chairman, Sen. Chris Dodd, D-Conn.

Sen. Richard Shelby of Alabama, the highest-ranking Republican on the panel, said the economic outlook has become a "bit more cloudy."


A bit more cloudy... I guess that's what it looks like from the inside of the toilet.
JPB
 
  1  
Reply Wed 21 Jul, 2010 05:52 pm
@mysteryman,
Back to taxes...

Quote:
“The expiration of the 2001 and 2003 tax cuts is the most significant event in tax policy in generations,” said Scott Hodge, president of the Tax Foundation. “I’m hard pressed to think of another moment in the history of the tax code in which we have had so many provisions expire at the same time impacting so many Americans all at once.”

President Obama has proposed higher tax rates, 36 percent and 39.6 percent, on married couples filing jointly with incomes of more than $250,000 and on individuals with incomes above $200,000. He would leave in place the lower rates for people with incomes less than $250,000.

That would come on top of the $210 billion tax hike on upper-income people that is part of the new health care law.


This seems likely...

Quote:
“My crystal ball is broken because I fully expected Congress to act last year to prevent the sun setting of the estate tax this year,” Hodge said. Congress didn’t do that. “It is looking very unlikely that Congress will be able to resolve these issues before they head home to campaign.”

He added, “I think there are some on Capitol Hill who believe taxes should be raised, for the deficit or for ideological reasons, and would prefer to have all of the tax cuts expire with none of their fingerprints on the tax increase.”


The AARP and other elder group lobbyists will probably start lobbying heavily, if they aren't already...

Quote:
“An under-reported story is the economic havoc that will occur if the tax on dividends increases from 15 percent to 36 percent (for those earning less than $250,000) and 39.6 percent (for those earning more than $250,000),” said Paul Caron, who publishes the TaxProf blog and teaches tax law at the University of Cincinnati law school.

“Many Americans, not just the wealthy, receive dividends, such as through mutual funds,” he said.

Hodge points to Internal Revenue Service data showing that taxpayers over age 55 account for 71 percent of all dividend income earned.


Source
0 Replies
 
 

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