07-29-2010, 10:31 PM
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Too lazy to set a custom title
Industry Role:
Join Date: Oct 2002
Location: Montreal, Quebec
Posts: 29,709
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Quote:
Originally Posted by Vendzilla
The fact that the government has grown with every president does not make it right, it makes for taxes to pay for it, simple math. Or are you saying that more people working for the government will magically pay for itself?
Or that 40,697 new laws were passed at the beginning of the year and not knowing them is not an excuse in the court system, do you know all of them?
Private sector jobs are not being made, they are still loosing jobs,
Initial jobless claims drop to 457,000 , you're going to have to prove to me that losing 457,000 jobs is a good thing and going in the right direction
http://www.google.com/hostednews/ap/...19lGwD9H8P3E00 |
Quote:
US bailouts prevented 1930s-style Great Depression say economists
New study by economists Mark Zandi and Alan Blinder says US economic stimulus averted a worse downturn
To Washington conservatives they were egregious examples of "big government" overreach, but the White House's economic stimulus and bailout policies have saved 8.5m jobs and averted a further slump of 6.5% in US economic output, according to a study by two influential economists.
An in-depth modelling exercise by Moody's chief economist, Mark Zandi, and a Princeton University expert, Alan Blinder, paints a bleak scenario of a 1930s-style Great Depression if the US government had enacted none of its $1.7tn (£1.3tn) programmes to avert a financial meltdown.
Using historical statistical relationships and a focus on the government's impact on narrowing credit spreads, the pair found that the downturn would have continued into 2011, with unemployment peaking at 16.5% rather than last year's actual high of 10.1%.
They believe US gross domestic product would have slumped by 7.4% in 2009 and by 3.7% in 2010, producing a "peak to trough" decline of 12%, rather than the anticipated 4%. Starved of demand, shops and employers would be cutting prices and wages.
"With outright deflation in prices and wages in 2009 to 2011, this dark scenario constitutes a 1930s-like depression," says the study, entitled How the great recession was brought to an end".
Thwarting stiff opposition from Republicans in Congress, the Obama administration introduced an economic stimulus package of more than $780bn last year, adding to giveaways of $170bn by the Bush administration in 2008 that included tax refunds to tens of millions of Americans. Adding in banking-bailout measures of $600bn and smaller programmes such as the "cash for clunkers" scheme and a rescue of insurer AIG, total commitments by the US government reach $1.7tn.
rest here
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Damn Obama .... 
PS: hope there are no " coding " errors .... 
__________________
I know that Asspimple is stoopid ... As he says, it is a FACT !
But I can't figure out how he can breathe or type , at the same time ....
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