Economic Indicators

Levelheaded · #1 (**permalink**) 10-27-2006, 11:01 AM

http://www.msnbc.msn.com/id/15441994/

More news on the economy

gixaholic · #2 (**permalink**) 10-27-2006, 11:07 AM

Quote:

Originally Posted by Levelheaded

http://www.msnbc.msn.com/id/15441994/

More news on the economy

well with at almost 6 percent intrest rate what do you expect. It was well known that the economy was cooling down. But what you forget is that Dow jones has reached it's highest level ever. Even with the clear knowledge of the ecomomic slowdown.

Even in the article you posted there is a bar graph showing the growth of GDP
in 2003. That is from the bush tax cuts.

so your attempt to say the economy is not doing well failed

And lets not forget low unemployemnt

inflation tamed

good market results

Housing bubble burst never happened. More of a soft landing

we as a country are doing ok. And dont let keith olberman fool you

cat's meow · #3 (**permalink**) 10-30-2006, 12:00 AM

OP ED but she never lies, yes she has an opinion.

Quote:

Tuesday, October 24, 2006
It’s Good to Be the Richest of the Rich
by Molly Ivins

Oh, goody. According to the White House press office, President Bush will spend much of the next two weeks discussing what a swell economy we have. Did you know that the Dow Jones industrial average is at its highest point EVER? And the NASDAQ, ditto. Wow, breathtaking, huh? But the Dow is not a good indicator of how thing are really going for the majority of Americans.

I just love listening to the Bushies play with numbers. When Bush took over in 2001, he predicted a surplus of $516 billion for fiscal year 2006. Last week, the administration announced a 2006 deficit of $248 billion, missing its projection for this year by $764 billion. Bush said the numbers are “proof that pro-growth economic policies work” and are “an example of sound fiscal policies here in Washington.”

This is highly reminiscent of Dick Cheney’s recent observation about the Iraqi government, “If you look at the general, overall situation, they’re doing remarkably well.”

Bush’s main talking point on the budget is that he “cut the deficit in half”—that would be from 2004, the year the White House inflated the projected deficit for political reasons. Even conservatives disagree. Brian Riedl of the Heritage Foundation said, “The White House has a track record of projecting budget numbers to be a lot worse than they end up, which therefore helps them defeat the gloomy expectations and declare victory.” If Bush does manage to make the tax cuts permanent, he will add more than $3 trillion to the deficit over the next 10 years. The federal budget would be virtually in balance if there had been no tax cuts.

Bush’s version of “doing remarkably well” includes a trade gap—now a record $69.9 billion—up 2.7 percent since July. “Short of a big correction in consumer spending, the best we can hope for is that the trade deficit stabilizes,” Stephen Stanley, chief economist at RBS Greenwich Capital, told Bloomberg.com.

Meanwhile, what we see in the economy as a whole is an immense shift of wealth from the poor and middle class to the very rich. It seems a little painful to have to point this out yet again after six solid years of it, but these are lies, damn lies and statistics.

Just to give you an idea of how dependable the Bush numbers are, the Department of Health and Human Services put out a press release a few weeks ago telling senior citizens they will have “new options with low costs” and that monthly premiums in ’07 will be the same as in ’06.

“The Medicare prescription drug benefit ... just keeps getting better,” burbled HHS. They seem to have been taking too much in the way of prescription drugs. Rep. Henry Waxman, one of the most singularly useful members of Congress, found that average premiums will actually increase by over 10 percent next year. And for the lowest-priced plans, average premiums will be up over 44 percent. “It is not merely confusing arithmetic, it is deceptive advertising,” said Waxman.

While lightening the tax burden for the rich, other parts of the Bush economic program continue to undermine the middle class in this country. As you may recall, in 2005 the credit industry successfully rammed a disgraceful bankruptcy reform bill through Congress. It’s working out just the way we expected it to: Middle-class families are borrowing more than ever to make ends meet. Most families go under if: (a) they lose a job or (b) they have a health emergency crisis.

One attorney sums up the legislation’s impact: “It’s designed to make life miserable for anybody who owes money. It’s a help-the-banks, squish-the-little-guy law.”

Bush’s remarkably good economy is good only for the richest; for the rest of us, incomes are stagnant and education and healthcare costs are skyrocketing. The Republican Congress blindly rubber-stamps policies designed to help only a few. Are you better off than you were six years ago?

gdfather02 · #4 (**permalink**) 10-30-2006, 12:26 AM

I am doing pretty good, and I am far from rich....

What amazes me is that the very people that complain about our economy are the very people I see, every day, riding around with the spinning rims, brand new cars, wearing the latest "bling"....

I call it the lack of priorities....

GoRightAndYouCan'tGoWrong · #5 (**permalink**) 10-30-2006, 01:27 AM

I have to admit we are doing pretty well also, but we have made good choices. I’m positive that the administrations past or present had little to do with this. I do have to admit the tax breaks are very welcomed come April and hope and pray that this doesn’t change during the next admin.

RASTAMAN · #6 (**permalink**) 10-30-2006, 05:29 AM

Quote:

Originally Posted by GoRightAndYouCan'tGoWrong

I have to admit we are doing pretty well also, but we have made good choices. I’m positive that the administrations past or present had little to do with this. I do have to admit the tax breaks are very welcomed come April and hope and pray that this doesn’t change during the next admin.

Hopefully what changes is that the Tax Breaks go to the middle class b/c the middle class will take the money and spend it; thus perking up and stimulating the economy.

Yeah, the richest among us are getting great tax cuts, but they are not putting they're taxes saved back into the economy. That money is going into off-shore untaxable accounts and into long term investments; all of which does not benefit the economy.

Also, keep in mind the Tax Breaks for the richiest among us is not tied into or motiviated by the middle class jobs that are supposed to be created. This is just more smoke and mirrors brought to you by the Trickle-down Reagan-Busho economic scan game for he wealthy.

GoRightAndYouCan'tGoWrong · #7 (**permalink**) 10-30-2006, 09:14 AM

Quote:

Originally Posted by RASTAMAN

Hopefully what changes is that the Tax Breaks go to the middle class b/c the middle class will take the money and spend it; thus perking up and stimulating the economy.

Yeah, the richest among us are getting great tax cuts, but they are not putting they're taxes saved back into the economy. That money is going into off-shore untaxable accounts and into long term investments; all of which does not benefit the economy.

Also, keep in mind the Tax Breaks for the richiest among us is not tied into or motiviated by the middle class jobs that are supposed to be created. This is just more smoke and mirrors brought to you by the Trickle-down Reagan-Busho economic scan game for he wealthy.

Rasta I will not deny that I have hoarded money in the past to get to where I am at, but I do have three children as well as the ambition to give them the best of advantages and early retirement would be nice as well.

As for the concept that the richest get the best of breaks, I have to disagree. I have two siblings male and female and they were given the same opportunities as I, but they chose differently. My sister is currently living in what I consider poverty standards given that she has half a dozen kids and only her husband works a construction job that he lays out of at least 3 times a month. She will not get her lazy healthy a** up and work, but blames everyone but herself. Needless to say she is truly dreadful. They also get about $5,000 every tax season for living this way. I guess it’s a reward??? I on the other hand have three kids and work for myself, my spouse contracts for a national resource company about 6-8 months a years then is up my a** for the remainder.

We get no refunds! We pay way more than my less productive brother-in-law??? Why is that Rasta???

Now I’m not complaining, because we are blessed and do get some useful write offs due to donations, some Fed breaks, real estate, etc.. and the greatest invention of all time expense accounts and accountants. No one ever has handed me $5,000 for working. I have built everything I have and currently have 29 employees between 4 businesses. I only started the latest business for my son. Yes he is a 15 year old Jr. Republican and wanted the chance, so I invested my money into him. That was 9 months ago and to date he has turned a small profit, witch I told him not to expect but he is a thinker and has a good teacher.

This misconception that the rich get richer because the gov is helping is ridiculous.

BTW I have created jobs as well as spend money every day.

We all have choices man..

melchizedek22 · #8 (**permalink**) 10-30-2006, 09:38 AM

the rich get richer the poor get screwed film at 11

GoRightAndYouCan'tGoWrong · #9 (**permalink**) 10-30-2006, 09:42 AM

Quote:

Originally Posted by melchizedek22

the rich get richer the poor get screwed film at 11

BooHooHoo!!!!

George O Well · #10 (**permalink**) 10-30-2006, 09:59 AM

Quote:

Originally Posted by Levelheaded

http://www.msnbc.msn.com/id/15441994/

More news on the economy

"WASHINGTON - Economic growth slowed to a crawl in the third quarter, advancing at a pace of just 1.6 percent, the worst in more than three years."

>>>The only economic indicator anybody needs to know is: National Debt = $10,000,000,000,000.

I'd say we should "grow" our way out of the debt, but with the economy advancing at 1.6 percent, there just ain't no way. So much for Bushian Economics (of course, even his father recognized voodoo when he saw it).