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The U.S. economy roared to life in late summer, as gross domestic product rose at a 3.5 percent annual rate in the July through September period. It was the best quarter for growth in two years though analysts warned that it was fueled largely by government recovery programs.
The new data on GDP, which the Commerce Department released Thursday morning, is strong evidence that the recession that began in December 2007 ended sometime this summer. A formal determination will be made by a committee of economists based on a wider range of data, once more complete information is available.
GDP is the broadest measure of economic activity, capturing the value of goods and services made within U.S. borders during a given period. It was boosted in the third quarter by, among other factors, a jump in government spending driven in part by the federal stimulus bill passed in February, a rise in consumer spending following a year of steep declines, a steadying in the housing market, and businesses ramping up production to replace inventories that had become exceptionally low. Washington Post
washingtonpost.com
And then there is the other side of the story: :2wave:
The stimulus bill has helped the economy come out of recession. Live with it! Of course you guys wanted the economy to tank so bad...
And then there is the other side of the story: :2wave:
The stimulus bill has helped the economy come out of recession. Live with it! Of course you guys wanted the economy to tank so bad...
what if I was able to buy a car because of cash for clunkers? Is that fake?
what if I was able to buy a car because of cash for clunkers? Is that fake?
And then there is the other side of the story: :2wave:
The stimulus bill has helped the economy come out of recession. Live with it! Of course you guys wanted the economy to tank so bad...
U.S. Unemployment Rate Rises to 9.8 Percent in September
By Arkansas Business Staff
10/2/2009 7:30:39 AM
The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, according to a report Friday by the U.S. Department of Labor's Bureau of Labor Statistics.
The unemployment rate was 9.7 percent in August......
Yep. Taxpayers paid $24,000 for your car. Think you got a $4,500 break on it - you didn't. That was fake.
We're out of recession but the unemployment rate is still rising. Please explain just how that works.
I guess that you don't think it possible that continued deficit spending can cause the collapse of the US. Just as the family must tighten its belt, do things the hard way, eat beans, and live modestly, reduced spending is the key to save the US from insolvency.
"An early progress report on President Barack Obama's economic recovery plan overstates by thousands the number of jobs created or saved through the stimulus program, a mistake that White House officials promise will be corrected in future reports.
The government's first accounting of jobs tied to the $787 billion stimulus program claimed more than 30,000 positions paid for with recovery money. But that figure is overstated by least 5,000 jobs, according to an Associated Press review of a sample of stimulus contracts.
The AP review found some counts were more than 10 times as high as the actual number of jobs; some jobs credited to the stimulus program were counted two and sometimes more than four times; and other jobs were credited to stimulus spending when none was produced."
The report goes on to state that there is no evidence the White House did this intentionally and they will fix the numbers. The White House says it was aware of the problem, but they did not seem to publicly fix it until now, when the AP found the errors.
Were the numbers inflated intentionally or was it an honest mistake? What could have caused the error? Is the government trying to make it seem like the stimulus money is working when it really is not?
Stimulus jobs overstated by thousands - Yahoo! News
what if I was able to buy a car because of cash for clunkers? Is that fake?
And hundreds of thousands of used cars have been destroyed and lower income people are paying more for a used car to take them to work because the prices have gone up, of course.
And now we're going to give $250 to my grandmother and everybody who gets social security. Grandma has never spent a s/s check in her life. She just uses her retirement money from her old job.
Maybe that money should go to peope who bought a used car since the cash for clunkers deal.
I'm not an economist but they've always been saying that increased employment lags behind an economic recovery. Companies may be doing better, but they're not doing well enough to hire back more people. Also consumers, for various reasons, are not spending yet, and it's this that drives the economy. Many people have decided to save more, cut down on credit, and especially not buy big ticket items.
I'm not worried about the collapse of the US economy due to debt. We've been through big debt before. Almost all economists (except those paid off by the right) say that govt spending has to happen to keep the economy from collapsing. I prefer to focus on Obama having saved a huge collapse due to bank collapses, and further loss of jobs, by backing the TARP and pushing thru stimulus bill. I think(hope) Paul Krugman knows more than I and you about this.
I'm not worried about the collapse of the US economy due to debt. We've been through big debt before. Almost all economists (except those paid off by the right) say that govt spending has to happen to keep the economy from collapsing. I prefer to focus on Obama having saved a huge collapse due to bank collapses, and further loss of jobs, by backing the TARP and pushing thru stimulus bill. I think(hope) Paul Krugman knows more than I and you about this.
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