Obamas economy still hitting new lows.

[cutthemdown]

Originally Posted by BroncoBeavis

Has nothing to do with austerity. It has to do with Keynesians putting their economic hypotheses in unfalsifiable terms.

Here we have a case where they predicted dire consequences if you didn't enact their plan. We enacted their plan. And the results were WORSE than the dire consequences they predicted if you ignored their plan altogether.

With that in mind... how can you ever gauge the success or failure of any Keynesian program? By your definition, they're always assumed successful, no matter how far off base from estimate.

Great argument showing how silly it is. You just say nope it would have been worst without it, even though it came nowhere near what they said it would achieve. Since you can't go back in time they can never be wrong. In fact you could have 20% unemployment and still say it would have been 25% without stimulus. It never ends.

All CBO is saying is that the stimulus had an effect on unemployment. They crunch the numbers you give them.

[L.A. BRONCOS FAN]

Originally Posted by cutthemdown

So much of the stimulus just wasted with nothing to show for it. CBO doesn't wade into that. It knocked some off of unemployment like they said. But that isn't saying much Obama promised us 6%

[L.A. BRONCOS FAN]

Originally Posted by cutthemdown

So much of the stimulus just wasted with nothing to show for it.

Unless you're one of those pragmatic types who believes preventing a major economic meltdown or another great depression is "something."

[L.A. BRONCOS FAN]

[cutthemdown]

Originally Posted by L.A. BRONCOS FAN

Unless you're one of those pragmatic types who believes preventing a major economic meltdown or another great depression is "something."

TARP was needed, Recovery Act was a joke.

[TonyR]

Republicans blocked all the administration’s effort to hire directly for infrastructure projects, or to transfer funds directly to state’s which stops them from firing public employees. These policies would drop the unemployment rate several percentage points. Failing to transfer funds to cash strapped states added a full 1% to the unemployment rate and clipped almost 1% from the country’s Gross Domestic Product. Republicans in Congress who blocked these common sense, fiscal reponses that guarantee jobs, now attack the administration for not creating more jobs.

http://www.beezernotes.com/wordpress/?p=6045

[Cito Pelon]

Originally Posted by cutthemdown

I'm willing to agree with all of this. It's not that economy not growing, its that its growing so slow its barley noticeable. What maybe not even 2% right? No doubt if they counted unemployment like it really is it would be like 15%. Its just they don't count people not looking for a job.

I've actually done pretty dang good in the market since Obama took office, with the exception of the Tea Party downslide last year when they took office and decided to obstruct a reasonable Fed budget deal.

Romney and the Tea Party won't make the economy take off like a rocket. If I thought they would I'd vote GOP in a hearbeat, but it's not gonna happen. Their policies are bunk, will inevitably lead to another financial meltdown. They will have padded their own pockets massively but the middle-class will have been reduced yet again.

I'm fine with a strong fiscally-conservative GOP in opposition putting pressure on over-spending. But the GOP has to give up the tax breaks for the rich. Period. There is no advantage to the USA to continue giving tax breaks to the rich.

[TonyR]

Originally Posted by Cito Pelon

Romney and the Tea Party won't make the economy take off like a rocket. If I thought they would I'd vote GOP in a hearbeat, but it's not gonna happen.

^Yup. There are some suggesting that Romney will change once in office and go against the GOP Congress and push for economic policy that will help the country. But I have to agree with this analysis of that possibility:

How exactly is Romney going to win a policy duel with Congressional Republicans? George W. Bush managed to get Congressional Republican buy-in on some bipartisan legislation during his time in office, but the Tea Party House is far more extreme than any Congress Bush ever dealt with. At this point, GOP Congressmen are either Tea Party true believers or afraid of getting primaried by Tea Party true believers. Neither group is big on compromise.

A sizable chunk of the Republican base is distrustful of Romney already; he'd risk a rank-and-file revolt if he strayed more than a few inches from the party line.

http://andrewsullivan.thedailybeast....-platform.html

[DenverBrit]

“Those who cannot remember the past are condemned to repeat it.” George Santayana

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"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." --Roman philosopher and statesman Marcus Tullius Cicero (106-43 BC)

[L.A. BRONCOS FAN]

Originally Posted by cutthemdown

Recovery Act was a joke.

Hmmmm.....who to believe on that one?

Economic experts who have studied the matter, or some bozo on a football forum who makes it up as he goes along...