So let me get this straight. He has tripled government spending and will increase it exponentially if his health care passes, but then says he wants to cut domestic spending next budget? But will he cut it to pre Obama administration levels? Of course not!
Asked by Anonymous at 12:46 PM on Nov. 14, 2009 in Politics & Current Events
Answer by Anonymous at 12:46 PM on Nov. 14, 2009
This was posted yesterday, It was always the plan to fix the immediate catastrophe that was imploding at the time, MOST economists agreed it NEEDED to happen. After the immediate problem was dealt with, the deficit would be next
Answer by sweet-a-kins at 12:49 PM on Nov. 14, 2009
According to a new survey of economists, an economic recovery from the United States' worst recession in more than a generation has begun, jump-started by the Obama administration's $787 billion fiscal stimulus package. Economists surveyed by Bloomberg News expect the U.S. economy to expand by two percent or more for four consecutive quarters through June 2010.
However, the projected expansion in the year ahead won't be enough to prevent U.S. unemployment from hitting 10 percent, the economists said. That would be the first double-digit unemployment rate for the world's largest economy since 1983, which marked the end of another pronounced recession. However, economists and government labor market statisticians caution that unemployment historically is a lag indicator, with job growth typically increasing and unemployment declining months after the recovery starts.
Answer by sweet-a-kins at 12:52 PM on Nov. 14, 2009
Answer by sweet-a-kins at 12:53 PM on Nov. 14, 2009
Now, however, if the survey of economists is correct, the fiscal stimulus is working as intended -- providing the initial increase in demand that's critical to jump-starting commercial activity. The Congressional Budget Office said the stimulus plan has pumped about $125 billion into the U.S. economy so far.
More recently, another "mini" stimulus plan has provided more evidence of the validity of Keynesian economics, which argues that the government can serve as a tool in economic policy. The "cash-for-clunkers" car program, which was denounced by critics as insignificant, a gimmick, and another wasteful government program, is now being credited with jump-starting sales and traffic in the nation's formerly lonely auto showrooms.
Answer by sweet-a-kins at 12:54 PM on Nov. 14, 2009
Answer by lovinangels at 1:13 PM on Nov. 14, 2009
It doesn't make any difference what Obama does to those with ODS. Unless he wakes up one morning and has transformed into St Raygun some will never be happy. I have not been pleased with the excessive spending so will reserve judgement until I see where he proposes cuts and if he can get Congress to go along with it.
Answer by Friday at 1:26 PM on Nov. 14, 2009
Answer by LoriKeet at 1:33 PM on Nov. 14, 2009
OBAMA said if we did NOTHING, unemployment would have MAXED out at 8.5%. After SPENDING nearly a trillion dollars, unemployment is over 10%!!! That darn fuzzy math will get you every time.
"mmmm, mmmm, mmmm....Barack Hussein Obama....."
Answer by LoriKeet at 1:38 PM on Nov. 14, 2009
Answer by mancosmomma at 5:53 PM on Nov. 14, 2009