Wehrwolfen
Banned
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Rick Moran
August 3, 2013
James Pethokoukis has a devastating chart and blog post over at AEI outlining the utter, complete, and total failure of the president's economic policies.
On the surface, the July jobs report - the unemployment rate dipped to 7.4% last month thanks to a shrinking workforce as the economy added a disappointing 162,000 net new payrolls - is just another dismal data point in America's "new normal" recovery. But it's also an important milestone and metric for judging the Keynesian fiscal experiment known as Obamanomics.
In January 2009, Team Obama economists put together a report - half quantitative analysis, half sales pitch - outlining the potential economic impact of the proposed $800 billion stimulus. (See above chart from that report.) If Congress passed the plan, the report forecasted, the economy would generate enough additional demand, output, and employment that two big things would happen:
First, the unemployment rate would never reach 8%. Unfortunately, we hit 10% unemployment in October 2009. Failure number one.
Second, the unemployment rate would return to its long-term "natural rate" of 5% by July 2013 (a jobless rate, it should be noted, above the low points of the Bush and Clinton presidencies). Labor markets would be back to peak health. The Great Recession would truly and finally be over.
Read more:
http://www.americanthinker.com/blog...e_promised_by_the_stimulus.html#ixzz2aw71V6l1
Of course this is another ploy to disgrace Obama, who himself claimed, "Those shovel ready jobs weren't so shovel ready after all." Nudge, nudge, Chuckle, chuckle.
Rick Moran
August 3, 2013
James Pethokoukis has a devastating chart and blog post over at AEI outlining the utter, complete, and total failure of the president's economic policies.
On the surface, the July jobs report - the unemployment rate dipped to 7.4% last month thanks to a shrinking workforce as the economy added a disappointing 162,000 net new payrolls - is just another dismal data point in America's "new normal" recovery. But it's also an important milestone and metric for judging the Keynesian fiscal experiment known as Obamanomics.
In January 2009, Team Obama economists put together a report - half quantitative analysis, half sales pitch - outlining the potential economic impact of the proposed $800 billion stimulus. (See above chart from that report.) If Congress passed the plan, the report forecasted, the economy would generate enough additional demand, output, and employment that two big things would happen:
First, the unemployment rate would never reach 8%. Unfortunately, we hit 10% unemployment in October 2009. Failure number one.
Second, the unemployment rate would return to its long-term "natural rate" of 5% by July 2013 (a jobless rate, it should be noted, above the low points of the Bush and Clinton presidencies). Labor markets would be back to peak health. The Great Recession would truly and finally be over.
Read more:
http://www.americanthinker.com/blog...e_promised_by_the_stimulus.html#ixzz2aw71V6l1
Of course this is another ploy to disgrace Obama, who himself claimed, "Those shovel ready jobs weren't so shovel ready after all." Nudge, nudge, Chuckle, chuckle.
Those "shovel ready jobs" were a "blessing" in my state. They've been shoveling and paving and building all over the place. I'm really getting tired of the roads all tore up and the traffic jams it's causing, though.
i'm sure 10% unemployment had nothing to do with the housing/mortgage bubble popping, or the guy who was in office for 8 years leading up to it. It was completely on the shoulders of the guy who'd been in office for less than a year.
i'm sure 10% unemployment had nothing to do with the housing/mortgage bubble popping, or the guy who was in office for 8 years leading up to it. It was completely on the shoulders of the guy who'd been in office for less than a year.
And over 5 years down the road Obama has done nothing about it.
How did "dubya" muck it up?so dubya mucked it up, but obama is at fault for not picking up the pieces fast enough despite republicans blocking anything with obamas name on it (including their own ideas), gotcha.
Only if you don't consider that there were improvements to head off the "Housing/mortgage" Bubble popping being blocked by Democrats and Barney Frank in particular.
Frank's fingerprints are all over the financial fiasco - The ...
www.boston.com › Globe › Opinion › Op-ed
Sep 28, 2008 · The government has to get us out of it." That's Barney Frank's ... Because while the mortgage crisis convulsing ... As long as housing prices kept ...
~~~~~~~~~~~~~~~~~~~~~~~~~
Another HUD - Barney Frank Disaster on the Way! | The National ...
thenationalrealestatepost.com/2011/06/21/another-hud-barney-frank...
Barney Frank Disaster on the Way ... Raise home prices or at least keep them from falling further and begin ... There is no motivation for anyone to stay in a ...
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RealClearPolitics - Is Barney Frank?
www.realclearpolitics.com/articles/2010/10/19/is_barney_frank...
So it is no surprise that Barney Frank was very protective ... Everybody except Barney Frank. "There is no guarantee ... The housing market is fine.'" His reply? "No, ...
Of course in making that statement you exclude the truth about the role Barney Frank and Democrats had in bringing about this fiasco..
so dubya mucked it up, but obama is at fault for not picking up the pieces fast enough despite republicans blocking anything with obamas name on it (including their own ideas), gotcha.
2 of your links are broken and the third leads to the front page of a real estate blogging and network site. how long have you had them bookmarked lol? If anything this further implies Dubya let this happen on his watch since he couldn't overcome opposition from the juggernaut known as barney frank.
Did I make that claim?
Since you prefer to make statements in that vein, I'll try to reveal to you that the Republican majority prior to 2007 tried to repair and improve Freddie Mac and Fannie Mae coming problems. Democrats like Barney Frank blocked those efforts and kept telling us to move along there was nothing to see here until 2008 when everything fell apart. Could that be why Frank is no longer running for office?
Fannie and Freddie are profitable again....
Fannie and Freddie spur home lending by buying mortgages from banks and packaging them into securities on which they guarantee payments of principal and interest. That frees up the banks to make more loans. Fannie Mae had its best year ever in 2012, reporting net income of $17.2 billion, outpacing companies such as Wal-Mart Stores (WMT), General Electric (GE), and Berkshire Hathaway (BRK/A), according to data compiled by Bloomberg. Freddie Mac reported earning $11 billion last year. Both say they expect to remain profitable....
Fannie and Freddie Are Super-Profitable, but Congress Doesn't Care - Businessweek
Did I make that claim?
Since you prefer to make statements in that vein, I'll try to reveal to you that the Republican majority prior to 2007 tried to repair and improve Freddie Mac and Fannie Mae coming problems. Democrats like Barney Frank blocked those efforts and kept telling us to move along there was nothing to see here until 2008 when everything fell apart. Could that be why Frank is no longer running for office?
RealClearPolitics - Is Barney Frank?
Frank's fingerprints are all over the financial fiasco - The Boston Globe
Another HUD - Barney Frank Disaster on the Way! | The National Real Estate Post
They seemed to work for me. Try the above. And no I do not store info. Unlike you I rely on history, I do not make it up to revise it.
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