Where is the US economy headed?

People and the press continue to shift blame away from Obama, but the simple fact is that the efforts of Reid, Pelosi, Dodd and Frank before he took office are what got us into this mess... Obama's reckless spending and bailouts have only made the situation much worse for everyone. This is Obama's recession, and he seems intent on making it a depression.

NOTE: You're on my Ignore list, so don't respond to this post.

waterboy is about the most ignorant poster on a2k. He blames everybody except what really caused this crisis; GW Bush's increase in the deficit by $4 to $5 trillion dollars - tax cuts for the wealthy, two wars, and the extension of Medicare without paying for them. Bush left the next president with the Great Recession that Obama took over, and with the stim plan and saving of the banks, slowed down the increase in the unemployment ranks.

The GOP-tea party got all they demanded to approve the deficit ceiling, but they said "no." The major Obama shifting were to put social security and Medicare on the table, no tax increases, and more cuts in social programs. They kept moving the goal post to make it seem Obama was doing the shifting. Yes, Obama did shift to meet most of their demands, but they kept saying "no." There's no more shifting that Obama can do.

The next step is the default.

Does anyone not have the imposter on ignore?

I don't have either of you on ignore. ci makes much more sense than you do. Bush and the Republicans gave us the deep recession we are in now. Obama's stimulus got us out of it. Basically all you've got to complain about is unemployment, and looking at the two previous recessions, that took six years to recover. Obama's got us on track to recovery, and the Tea party hasn't a clue. The Republicans are set to re-make the same mistake they made in 1937-8. They talked FDR into a balanced budget and the economy promptly started to tank again. He went back to stimulus spending and the New Deal and the recovery resumed.

I saw both versions of "All the King's men" with Broderick Crawford and Sean Penn. Another Huey Long would be good. The current political climate perfectly mirrors those during Huey Long's life.

Obama's stimulus got us deeper into this. Obama hasn't a clue nor the inclination to put this country on the path to recovery.
Obama's stimulus spending is a scam to buy the votes of the dumbmasses and the moocher class.

What a twisted view of history, Jack! If any of that were true, if any family is near bankruptcy, tell them to simply keep spending like a drunken sailor, and just like magic, their problem is solved. Why don't you start a talk show, offer classes, and publish some books to compete with Dave Ramsey in counseling people in regard to their financial problems?

If that's a twisted view of history, provide us with the facts, okie?

Jack's view is twisted for sure!

It is a fact that you cannot spend your way to prosperity. True, you can borrow money for temporary or apparent prosperity, but it doesn't last. The government can extend unemployment benefits, but it doesn't create any jobs. Numerous more examples could be cited.

okie, You're just making a claim without any support for it. Prove your statement,

When our country was involved in WWII, the US government increased our deficit to new highs by spending on war machines. Our debt was over 120% of GDP by 1945. Do you know what happened to the US economy after WWII? Guess.


When you say, , please provide evidence for this claim? Which country are you referring to - if any?

You wrote, Do you mean to claim that those folks who get unemployment benefits don't spend their money? If they do spend their money, does that hurt or harm the businesses where they purchase their goods or services? Does that save jobs or not? How about the producers of those food products, the delivery industry, and the clerks who work in those stores?

Please cite more of your examples, so I can knock them down - with logic.

You are one screwed up guy in the head, imposter. It is futile to try to reason with you, so I won't try. If your above post is any example of your logic, trying to reason with you is futile.

okie, Quit the ad hominems and answer my questions; they are direct quotes from you that I'm asking for you to prove.

Most Don’t Trust Obama on Economy

More than half of all voters do not trust President Barack Obama to lead America back to economic prosperity, according to an exclusive Newsmax poll.

And the young who turned out in such great numbers for Obama in 2008 have even less confidence in him than those in any other age groups, shows the poll conducted by IBOPE Zogby. Only one in six of those under 24 say they trust Obama.

That could spell disaster for the president next year when he faces voters again, IBOPE Zogby chairman John Zogby told Newsmax. “I don’t see the younger group flipping and voting Republican,” he said. “But I can see them not voting in great numbers. The president cannot win reelection unless he can turn out the support of younger voters.

“They had very high expectations in 2008, but the economy has squeezed them and a significant number have found they aren’t able to get a real start.”

As Obama loses the youth vote, the signs are that those vying to be his Republican opponent at next year’s election see an opportunity to jump in.

Front-runner Mitt Romney led the way, launching an ad pointing out that Obama promised University of Maryland students a better future when he visited in 2009. It then goes on to show headlines such as “Graduates having difficulty finding jobs,” “Jobless college graduates struggle under ongoing recession,” “Many graduates delay job searches” and “Recent grads search for jobs to no avail.”

The poll comes at a time that Obama’s base appears to be crumbling beneath him. A separate Washington Post-ABC survey shows a huge drop in the number of minority voters and liberals who strongly support the president’s record on jobs and the economy.

The Newsmax poll asked a representative sample of 2,292 people whether they “trust President Obama to lead America back to economic prosperity.” It was conducted between July 22-July 25 and has a margin of error of plus or minus 2.1 percent.

On the basic question, 39.2 percent said they trust the president and 52.8 percent said they don’t. The rest were not sure.

Zogby said the figures were broadly in line with other polls that put the president’s percentage approval rating in the mid-40s, with an extra 5 or 6 percent being swayed by the word “trust.”

“I liken trust to virginity,” said Zogby. “Once you have lost it is very hard to get it back, so this is an additional front that the president has to fight on.

“He has to be deeply concerned that voters simply do not trust him on the economy. We’re getting into campaign mode at a time when the majority does not trust his leadership when it comes to moving the economy forward.

“That is a very heavy lift for him. It is not impossible for him to win. He’s a very good campaigner and it is possible that even now he could win some major points over the budget drama that’s going on now.

“But at the end of the day the focus on the election is going to be on the economy and the president starts with a deficit.”

Another worrying point for the president is the trust factor among Independent voters who are split 2-1 with the majority saying they do not trust him.

As expected, support among Democrats is still high, at 78.1 percent, but among GOP supporters the trust is barely there at all. Only 2.8 percent of those who identified themselves as Republicans said he is the person who can lead the country back to the good times.

The poll showed that women have significantly more trust in the president than men, with 44.3 percent saying they trust him as opposed to 33.5 percent of men. Among those in families which include either a serving member of the Armed Forces or a veteran 57.1 percent say they do not trust their Commander-in-Chief when it comes to the economy, compared to 52.1 percent of non-military families.

And older people have a higher opinion of the president on trust than the younger, but even among the most supportive group, those over 70, he still cannot command a majority, with only 45.8 percent saying they trust him.

Here's the graph revelette

Heck! You're just wasting your time trying to present common sense to people who are too stupid to understand what's going on.

It's already been shown that under GW Bush the deficit was increased by $4 to $5 trillion dollars - on wars and his tax cuts. The GOP-tea party now wants Obama to cut those expenses in one year that the GOP approved over eight years.

There's no cure for stupid.

I predict that the "purity of essence" that the tea baggers demand via its caucus is going to come back to haunt em. They wish no more taxes or increased expenditures that burden the US taxpayer (so they say). However, it appears that, becasuse of their inability to compromise and by their intractible position re the debt limit, the tea baggers will cause S&P's downgrade of US bond status. This will result in an imediate rise in interests and mortgages etc.

THANKS TEA BAGGERS, I HOPE AMERICA REMEMBERA ON ELECTION DAY.

Americans have very short memory spans. What is transpiring now will be forgotten by next election day.

I WILL REMEMBER.

In fact, if this default or downgrade in bond status happens, from that point forward, anytime I meet anyone who voted for any tea party candidate I will immediately start pummeling them in the face. I would also hope that other citizens join in and participate in this patriotic endeavor.

The market dropped 200 points today; this was followed by three days of drops in the market as congress argue about the debt ceiling.

Investors have already lost from this crisis, because they have harmed what hope was left a few days ago. The market is now reacting to the reality that the GOP-tea party is not ready to compromise, and the economic future is already predicted to be dismal. What little hope existed a few days ago is now becoming our reality; no hope.