Anybody remember when Obama said we need the stimlas and TARP or Unemployment will go above 10%?

[rushmc 23]

Well?

http://www.reuters.com/article/GCA-Economy/idUSTRE54K3OL20090521

U.S. unemployment likely to peak above 10 percent: CBO


will likely start growing again in the second half of this year but unemployment will likely keep rising through 2010 to peak over 10 percent, the Congressional Budget Office said on Thursday.
"The growth in output later this year and next year is likely to be sufficiently weak that the unemployment rate will probably continue to rise into the second half of next year and peak above 10 percent," CBO Director Douglas Elmendorf said in prepared testimony to the U.S. House Budget Committee.

It will likely take several years for the unemployment rate to fall back to levels seen before the recession hit, in the neighborhood of 5 percent, he said in the prepared remarks.


Is is working? Oh shit, I forgot, It is Bush's fault

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[marks2065 0]

Quote

Well?

http://www.reuters.com/article/GCA-Economy/idUSTRE54K3OL20090521

U.S. unemployment likely to peak above 10 percent: CBO


will likely start growing again in the second half of this year but unemployment will likely keep rising through 2010 to peak over 10 percent, the Congressional Budget Office said on Thursday.
"The growth in output later this year and next year is likely to be sufficiently weak that the unemployment rate will probably continue to rise into the second half of next year and peak above 10 percent," CBO Director Douglas Elmendorf said in prepared testimony to the U.S. House Budget Committee.

It will likely take several years for the unemployment rate to fall back to levels seen before the recession hit, in the neighborhood of 5 percent, he said in the prepared remarks.


Is is working? Oh shit, I forgot, It is Bush's fault

Quote

yep Obama and his koolaid drinking buddies couldn't have predicted how bad bush left everything haha or maybe the dem controled congress that wrote all the bill in bush's las 2 years and continued to this day are the problem.

[kelpdiver 2]

Well, what?

Are you suggesting that unemployment would not exceed 10% if TARP didn't happen, or are you just asserting that since this benchmark will still be hit, that TARP shouldn't have happened? You can't prove what would have happened, though logic and established history says that spending a trillion dollars in the short term results in more jobs than not spending a trillion dollars.

also, the CBO is historically rather conservative (pessimistic) in its projections, though in this case most believe unemployment will peak over the 10% threshold.

[skydived19006 4]

Quote

Well, what?

Are you suggesting that unemployment would not exceed 10% if TARP didn't happen, or are you just asserting that since this benchmark will still be hit, that TARP shouldn't have happened? You can't prove what would have happened, though logic and established history says that spending a trillion dollars in the short term results in more jobs than not spending a trillion dollars.

also, the CBO is historically rather conservative (pessimistic) in its projections, though in this case most believe unemployment will peak over the 10% threshold.

Just like USPA justifying their advertising. Skydiving goes up, it worked. Skydiving goes down, it would have been worse.

So, we should throw a few trillion more at it? Bush was a fiscal liberal throwing money all over the place, got us into huge deficit spending. Fix the deficit spending by tripling it. Not that the lending rules had anything to do with it, but then I guess that was all Bush too.

How about a 6 month tax holiday? How do we "pay for it"? Same way we "pay for" the 2 trillion Obama non stim.

Experience is what you get when you thought you were going to get something else.

AC DZ

[billvon 2,998]

>How about a 6 month tax holiday? How do we "pay for it"?

By the awesome power of wishful thinking! If we cut taxes, then something magical happens and the deficit gets all straightened out.

[rushmc 23]

HE said, unles these bills were passed unemployment would reach or exceed 10%

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[rushmc 23]

Quote

>How about a 6 month tax holiday? How do we "pay for it"?

By the awesome power of wishful thinking! If we cut taxes, then something magical happens and the deficit gets all straightened out.

It cant be any worse than where we are headed!

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[billvon 2,998]

>It cant be any worse than where we are headed!

Ah, well then TARP can't make it any worse either! We're covered.

[rushmc 23]

Quote

>It cant be any worse than where we are headed!

Ah, well then TARP can't make it any worse either! We're covered.

Yep, in shit. We are most definately covered

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[kelpdiver 2]

Are you going to kill yourself if Obama wins reelection?

We're only 4 months into his regime and you're already losing it. I thought the Dems were bad in 2001!

[rushmc 23]

Quote

Are you going to kill yourself if Obama wins reelection?

We're only 4 months into his regime and you're already losing it. I thought the Dems were bad in 2001!

I am loosing it?

Ok

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[FallingOsh 0]

Quote

>How about a 6 month tax holiday? How do we "pay for it"?

By the awesome power of wishful thinking! If we cut taxes, then something magical happens and the deficit gets all straightened out.

Or we could not have a $1,700,000,000,000 deficit. That might help, too.

Putting spending in check is just crazy wishful thinking!

--------------------------------------------------
Stay positive and love your life.

[billvon 2,998]

>Or we could not have a $1,700,000,000,000 deficit. That might help, too.

Definitely.

>Putting spending in check is just crazy wishful thinking!

It is, unfortunately, something both parties are dead set against.

[sfc 1]

Looks like things are starting to improve.

Unemployment rate down in 21 stateshttp://money.cnn.com/2009/05/22/news/economy/State_unemployment/index.htm?postversion=2009052212

[tbrown 26]

Well, we got the TARP (from the Bush administration, just to set the record straight) and the stimulus package and employment has not gone up to or over 10%.

So your question is what ?

Your humble servant.....Professor Gravity !

[kelpdiver 2]

Quote

Well, we got the TARP (from the Bush administration, just to set the record straight) and the stimulus package and employment has not gone up to or over 10%.

So your question is what ?

It's well past that in California, and most expect the official unemployment rate (warts and all) to continue to rise past 10% before recovery. Remember that employment is a trailing indicator.

[rushmc 23]

Quote

Well, we got the TARP (from the Bush administration, just to set the record straight) and the stimulus package and employment has not gone up to or over 10%.

So your question is what ?

It is getting closer and, to respond to your snide ass bush comment, I was against that bull shit when he was doing it to!!!!!

So, your point is?

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln