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- Aug 26, 2007
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- Conservative
WASHINGTON (AP) - President Barack Obama on Saturday pinned blame on Republicans for making life harder for the unemployed and for those who could lose their jobs without new federal intervention. He did so even as he sought to distance himself from the "dreary and familiar politics" of Washington.
Capping a week in which the administration scored a victory - a $20 billion fund to be paid by BP for the victims of the Gulf of Mexico oil spill - Obama reserved his radio and Internet address to focus on the work that didn't get done.
His main concern was the rejection of a bill in the Senate that would have provided more money for the long-term unemployed, aid for strapped state governments and the renewal of popular tax breaks for businesses and individuals.
"If this obstruction continues, unemployed Americans will see their benefits stop," Obama said. "Teachers and firefighters will lose their jobs. Families will pay more for their first home. All we ask for is a simple up or down vote. That's what the American people deserve."
Gotta love political grandstanding with things like unemployment benefits in a time with close to 10 % unemployment. What makes it hilarious is these same republicans who voted against this because of the debt had no problem squandering the near balanced budget Clinton left them.
Gotta love political grandstanding with things like unemployment benefits in a time with close to 10 % unemployment. What makes it hilarious is these same republicans who voted against this because of the debt had no problem squandering the near balanced budget Clinton left them.
Have you considered that maybe the policies that you are so fond of, have helped keep Unemployment where it is now... and more Gov't is going to help how?
The more people rely on Gov't to get by, the more the problem will escalate.
It's unlikely.
It's unlikely.
I'd love to see an explanation of how stabilization of credit markets, the prevention of fire sales of financial assets, the reduction of the TED rate to normal levels, resumption of normal money velocity, tax cuts, bonus depreciation and other incentives to invest made things worse.
But what do I know? I work in the financial related industry. Let's just ask those with no actual knowledge beyond what they get from Fox.
Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go. :roll:
I'd love to see an explanation of how stabilization of credit markets, the prevention of fire sales of financial assets, the reduction of the TED rate to normal levels, resumption of normal money velocity, tax cuts, bonus depreciation and other incentives to invest made things worse.
But what do I know? I work in the financial related industry. Let's just ask those with no actual knowledge beyond what they get from Fox.
Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go. :roll:
Being part of the financial industry can mean anything from a bank teller to the CEO of Citi, so broad that is seems meaningless.
What exactly did Obama do to stabilize the credit markets? Not sure if you are close on money velocity either. If velocity was normal then we would be worrying about inflation which we are not.
Tax cuts were one time hand outs, not sure people agree this helped in relation to it's cost.
Bonus depreciation helps little with the slack we have in factory utilization.
Not saying that these things did not help at all. I am saying that there is room for disputing whether we got value for the $ 800 billion.
Because you say they are?
Go search my posts.
Go search my posts.
Sorta. Bonus depreciation simply moves demand from period 2 into period 1. By itself it cannot do much, but it in theory acts as a jump start. There is a difference though between Bush's and Obama's. Bush's was during an era where corporations were literally sitting on mountains of money. Quite literally mountains. Not so much the case today. Especially when many states don't allow bonus like they did in 2002. Quite literally the same text, but different environmental conditions. But it likely did help some.
As you know corporations are sitting on record amounts of cash even now.
Of course. But I think you as much as I know that there are few good, if any good tools for dealing with financial crisises, especially the liquidity related ones. Some people seem to think that all recessions are the same and all can be treated the same.
Originally Posted by MrVicchio
Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go.
Because you say they are?
Because you say they are?
Because you say they are?
I'll be nice and let you off with one:
Okay, tell me how stabalizing the credit markets made things worse. Go!
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