First, I know someone will point to the current high unemployment rate to argue that the economy has not begun to turn around. However, unemployment is never a leading economic indicator. The employment rate typically improves on the tail end of the recovery from a recession, and the economy has reversed itself and begun to grow under President Obama:
The best you can hope for is for the unemployment rate to start coming down as the economy begins to improve, though this has NOT happened in the last two recessions where unemployment lagged the overall improvement in the economy:
Indeed, this trend appears to be holding true as the unemployment picture has dramatically reversed itself and improved under President Obama following the carnage of the Bush administration:
The wing-nuts narrative that the sky-is-falling is just not supported by the latest economic numbers, if anything the numbers point that we are on the brink of the greatest expansion since the Clinton Administration, and if the trends continue, unemployment figures, one of the last indicators of a economic boom, could improve leading to Nov. 2010, good for democratic legislators, and 2012, good for Obama...
MSNBCA Bloomberg national poll in March found that Americans, by an almost 2-to-1 margin, believe the economy has gotten worse rather than better during the past year. The Market begs to differ. While President Obama's overall job approval rating has fallen to a new low of 44 percent, according to a CBS News Poll, down five points from late March, the judgment of the financial indexes has turned resoundingly positive. The Standard & Poor's 500-stock index is up more than 74 percent from its recessionary low in March 2009. Corporate bonds have been rallying for a year. Commodity prices have surged. International currency markets have been bullish on the dollar for months, raising it by almost 10 percent since Nov. 25 against a basket of six major currencies. Housing prices have stabilized. Mortgage rates are low. "We've had a phenomenal run in asset classes across the board," says Dan Greenhaus, chief economic strategist for Miller Tabak + Co., an ins utional trading firm in New York. "If Obama was a Republican, we would hear a never-ending drumbeat of news stories about markets voting in favor of the President."
Little more than a year ago, financial markets were in turmoil, major auto companies were on the verge of collapse and economists such as Paul Krugman were worried about the U.S. slumbering through a Japan-like Lost Decade. While no one would claim that all the pain is past or the danger gone, the economy is growing again, jumping to a 5.6 percent annualized growth rate in the fourth quarter of 2009 as businesses finally restocked their inventories. The consensus view now calls for 3 percent growth this year, significantly higher than the 2.1 percent estimate for 2010 that economists surveyed by Bloomberg News saw coming when Obama first moved into the Oval Office.
The U.S. manufacturing sector has expanded for eight straight months, the Business Roundtable's measure of CEO optimism reached its highest level since early 2006, and in March the economy added 162,000 jobs — more than it had during any month in the past three years. "There is more business confidence out there," says Boeing CEO Jim McNerney. "This Administration deserves significant credit."
Did anyone ever try to measure how well Bush's tax cut and deregulation policies went? because my own humble economic analysis shows that we ended his presidency a little ed up...
Of course your not gonna hear about this from the M$M, they would rater continue to the cater to the disingenuous GOP lie that the sky-is-falling...if fact with magic negro in charge many 'conservatives' would like to do anything they can to steer the U.S. toward a future of doom-and-gloom, that's why they want a war with Iran, even though Iran does not have the technology, nor the uranium to build one nuclear weapon....
GOP lie that the sky is falling lololololololol
Obama pushed that line pretty hard braaaaaaaaaaaaaaaaaaaaaaaah. Then he told us the world was saved once he got his goodies through.
Way overstated, brih.
Between the delusional fantasy that fiasco has been definitively avoided and the insane lie that that Obama is Mussolini and Stalin rolled up into one, the reasonable middle is ruthlessly excluded to the common detriment.
Thank you, WH. I'm just tired of the arguments. They are senseless.
see, your problem is, its easy to tell you aren't interested in a fair minded discussion yourself when you cite irrelevant crap like this and expect it to be treated like its unbiased fact.
and if you don't already understand why everything in your post does absolutely nothing to prove obamonomics is working then there really is no point in discussing it with you.
there are so many asterisks and and question marks related to the data in the very short time period that it is impossible to use it to support the broad generalizations you've just indulged in.
I realize its unfortunate that a lot of republicans (ppl like Sean Hannity) are just using the economy as a stick to beat Obama with even though they don't know what they are talking about. However, that doesn't mean they're conclusions are wrong. I realize that if Bush had been in office he'd have done the exact same things as Obama. Bush is really to blame for this economic catastrophe, though the ball got rolling a long time before he came around.
What we are witnessing is nothing short of the natural result of our treatment of the economy. the longer we resist it, the longer it will go on. It will not end until there is a fundamental reordering of the economy.
The economy right now is being held together with duct tape, smoke, mirrors and above all a printing press. If it appears to have temporarily gets "better", its only because it set up an even bigger catastrophe down the road.
Can someone define Obamanomics? I don't think he has shown much leadership and instead will just accept whatever comes out of the congress, while dems are in office.
Trillions of dollars more in debt since Obama took office (Yes unemployment is higher than the great one predicted) and some asshole is trying to say he is doing a good job. Priceless!
Another classic nbadan fail.
The sky is falling! The Sky is falling!
The sky is falling! The Sky is falling!
Obama.....Pass this Stimulus bill NOW or unemployment will go over 8 percent!!!!!!!!
The sky is falling! The sky is falling!
Obama is a socialist!
The Sky is Falling! The Sky is Falling!
Tell us something we don't know.
No, I think it's:
The sky is falling! The Sky is falling!
"Nbadan fail! Nbadan fail!"
Obamanomics = Dubyanomics. Just hand out a bunch of free money, rack up huge defecits and cross your fingers.
TARP was initiated by dubya/Repugs/Paulsen.
The stimulus was all Magic Negro. It saved a couple M jobs, but there were 8M jobs lost in a period when 3M jobs should have been created, so an 11M job hole.
What would have been McLiar/pitbull 's mgmt of the Banksters' Great Depression?
As usual, boutons won't let things like facts get in the way of a good rant. Tarp was the creation of dubya, paulson and congressional democrats. Go look at the votes. It was the republicans who shot it down the first time before it got porked up enough to pass. Even Obama, who was out on the campaign trail at the time, was making a big deal about how involved he was in the tarp process.
http://www.opencongress.org/vote/2009/h/26
Last edited by coyotes_geek; 04-12-2010 at 10:34 AM.
"was the republicans who shot it down the first time before it got porked up enough to pass"
The Repugs voted against TARP not because they were against it, but because they knew it was going to pass and they could beat the Dems with it. Their obstructionism was purely tactical/political, not principled.
Had McLiar/pitbull won and the Repugs regained control of Congress, do any of you duped shills really think the Repugs would have cancelled TARP?
And right on cue, boutons reconstructs his arguement upon being confronted with the facts.
"the republicans did it"
"okay, so they didn't do it but they were just pretending"
I swear, I think he's a troll program left running on a 486 machine..forgotten in a basement of the UT computer science dept.And right on cue, boutons reconstructs his arguement upon being confronted with the facts.
"the republicans did it"
"okay, so they didn't do it but they were just pretending"
The outgoing Repug EXEC/TREASURY that created TARP is different from the rump Repug Congress who voted against TARP.
How much obstructionist howling did we hear from the Repug Congress when Paulsen exposed his 3-pager?
es, meet slap.
So none of you ers answer the question:
What Congressional Repugs were howling about duyba's/Paulsen's TARP 3-pager, before it got porked up?
Some republicans were for it, including my senator from Oregon, Gordon Smith. Please notice I did not vote for him in 2008, nor did many others, and he lost. I think they should all be kicked out. I don't know most the names and I don't care. At least it was legislated as a loan, and not to be used for anything else. Repayments were legislated to pay the debt back down.
Can't say that about TARP 2.
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