Unemployment notches up to 9.1% in May

It's just hard to listen to the party that took over a balanced budget a decade ago and oversaw trillions of dollars in increased spending while simultaneously slashing taxes preach on and on about fiscal responsibility. I don't think anyone honestly believes that the Democrats have all the answers when it comes to the economy, but from what I have seen in the last 20 years of American politics is that they have a lot more answers than the Republicans do.

If you think that cutting spending to the degree that the Republicans are proposing is going to somehow fix the economy, then you probably have a degree in voodoo economics, because the only thing that it's going to do is further contribute to the unemployment rate that you are throwing fits about.

 

You're a fool and a sucker.

 

^

Besides which, there are a myriad of reasons why real private-sector wages have not increased so much...none of which have really that much to do with the current or (avast!) the former president.

1-Globalization pushing high-paying manufacturing jobs outside of the United States due to increased competition.
2-An increase in the propensity towards non-wage compensation (mostly fueled by non-taxable health care spending for employees).
3-A drastic increase in food and fuel prices brought on by international instability and scarcity.
4-Employers leveling a tough economy and using the power of the Hicks-Marshall laws of derived demand on labor---for example, substitution effect (mechanization of factories), and the power that comes from a large pool of willing replacement workers. This naturally pushes wages down.

 

After GWB's b*tch a*s, the bottom three were all we as a nation should have cared about or so went the slogan: Change. Bull*****. Business as usual in American politics.

 

GDP is a very flawed economic indicator of an economy's health. That is why spending more money won't solve anything.

This country will never recover, and you want to know why?

Because the economy MUST get worse BEFORE it can get better.

The financial system as it stands right now must collapse in part before it can be rebuilt sustainably.

And most people are too (by design) economically illiterate to realize that, so the govt will never allow it to happen. Instead they'll keep (literally) handing money to the rich people who caused the problems.

until the middle class is obliterated and everyone but bankers are poor.

 

LOL, an appearance from the "we must kill the economy in order to save it!" crowd. This is so r****ded. Newsflash, the 20th century happened and you can't eat gold no matter what Glenn Beck told you.

It honestly does not take a genius to realize that cutting off economic activity does not actually increase economic activity - it takes a base knowledge of quantities and arithmetic that even non-sentient beings possess.

 

have fun wondering what happened to america's wealth for the rest of your life.

 

If only america had prayed over it and called the good folks at GOLDLINE we'd have more wealth.

 

you realize it doesn't take a genius to realize that without QE3 (an unsustainable event), the stock market is ****** beyond all belief and everyone with half a brain knows it.

it needs to fall before it can reflect the true (sustainable) growth rate again.

ponder that.

 

Although this depression is not completely Obama's fault, in my campaigning I'll happily detail his naive fiscal policies that have deepened our economic problems considerably.

From a realistic standpoint (never Obama's strong suit), IMO here is what must happen:

1) We must look at every program and cut the unnecessary spending.
2) We must reduce our military spending -- from military toys to foreign wars.
3) We must take the cap off Social Security/Medicare payments and move both systems out of the General Fund.
4) We must eliminate all tax shelters for businesses and individuals, but no business or individual shall pay more than 50% of income in federal taxes.
5) We must eliminate the income tax and adopt a value added tax (only food and medicine exempted) or keep the income tax under flat tax rules with no exemptions or accountant-inspired "losses."
6) We must sell food and medicine at rates proportional to prices for oil/gas and minerals shipped to this country -- no more giveaway programs.
7) We must increase the consumer tax rate on goods not made in this country.
8) We must institute severe fines on businesses that hire or house illegals.
9) We must include dental care under Medicare and reduce the Medicare inception age to 50, including Part F or G coverage by private insurers under the current no prior pre-existing conditions rules during the open enrollment period.
10) Federal policians who accept money from lobbyists, openly or nefariously, will be removed from office if convicted by a bi-partisan jury chosen from the opposite chamber or by the Senate if from the administrative or judicial branch. All meetings between special interest groups and a politician must be open to the public with sufficient notice and with special interest groups from all sides represented.

 

I'm acutally pondering how much money you've lost in equities since you've no doubt maintained this intellectual position for the last two years (if you actually put your $$ where your mouth is and had a market position to match).

 

http://www.fairtax.org/site/PageServer?pagename=about_main

Why are some parties allowed to contribute and others aren't? How do you draw a distinction?

 

Where did I specify some parties are allowed to contribute and others are not? Politicians would be funded by the government allowance (by geographic size of the congressional district or by geographic size of the state) and by the political party. Campaign contributions by unions, corporations and/or individuals would have defined limits, would be public and would be limited to political party rather than to individual pols (no PACs). Contributions made by unidentified donors (foreign and domestic) would be channeled to the federal government for equal distribution to candidates of all parties.

 

Corporations are sitting on piles of cash. Banks are sitting on tons of capital. Taxes are lower than ever. Yet, the job market remains anemic. Cutting taxes serves one goal, and one goal alone: starving the beast.

 

Remember when QE2 was going to wreck the US economy too? Hyperinflation, etc.?

 

Spoiler

 

Actually, he didn't. Look it up, he never said that.