The Congressional Budget Office says Obama's economic recovery plan will actually harm the economy in the long run.
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the_nether
Miguel Sanchez
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Joined 2005/12/08Visited 2010/01/27
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......the same CBO that never saw the recession coming ??............
.....they seem to be better at hindsight than at prognostication......
Posted by skizziks at 2009-02-06 01:09 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Well that's a good point. How many of our Senators and Congressmen saw this crisis coming? Less than one? But now they all expect us to believe they know how to get us out of it?
Posted by the_nether at 2009-02-06 01:56 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
From the CBO Director's Blog: "CBO estimates that the legislation would raise employment by 0.9 million to 2.5 million at the end of 2009; 1.3 million to 3.9 million at the end of 2010; and 0.6 million to 1.9 million at the end of 2011."
The repubs are afraid of the job creation this bill would bring...
Posted by Prolix247 at 2009-02-06 02:11 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
And where was this Congressional Budget Office the past eight years?
Did they come out against ridiculous tax cuts?
Blatant spending by Republicans?
What's their record at predicting anything accurately?
Posted by sitdown at 2009-02-06 02:16 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Finally someone sees something wrong with the legs of the liberal's messiah.
But not to worry, the liberal media will take care of it.
Posted by takitez at 2009-02-06 08:39 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Oh, boy! Another article from the rag owned by the kooky Rev. Sun Myung Moon and the moonbats.
NANC, you gonna get up on the street corners and sell flowers now?
Posted by AMERICANUNITY at 2009-02-06 08:44 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Sorry, NANC
It's the equally (Maybe more) kooky TAKITEZ
Posted by AMERICANUNITY at 2009-02-06 08:45 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
What's Lyndon LaRouche's plan??
Posted by LetUsPrey at 2009-02-06 08:55 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Its a straight news article about what the CBO said, you ignorant mouth-breathing fuck.
Stop embarassing yourself.
Posted by Jak_Se_Mao at 2009-02-06 08:57 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
#8 | Posted by LetUsPrey
He's 87 years old. His plan is probably to try to pee without passing a kidney stone.
Posted by SanAntonioRogue at 2009-02-06 08:59 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Abusive flag for JAK
The CBO examined 40% of the stimulus bill
Posted by AMERICANUNITY at 2009-02-06 09:05 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Your daddy is your stimulus plan. Spoiled rotten ... literally
You cannot trust anything the CBO says since the Dems are in control there - LOL
Posted by MSgt at 2009-02-07 01:06 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
The CBO is a Democratic Party stooge operation that. . . Oh, wait. . . Talking points! I need my talking points! ~Tight Panty Righties
Posted by Doc_Sarvis at 2009-02-07 09:02 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Reading the actual report tells a different story - and indicates Moody's analysis is correct. This report eviscerates tax cuts as stimulus. It appears the CBO report says the GOP's ideas do the most harm.
www.cbo.gov
Regarding Moody's numbers:
Table 1: Fiscal Economic Bang for the Buck One year $ change in real GDP for a given $ reduction in federal tax revenue or increase in spending Tax Cuts Non-refundable lump-sum tax rebate 1.02 Refundable lump-sum tax rebate 1.26 Temporary tax cuts payroll tax holiday 1.29 Across the board tax cut 1.03 Accelerated depreciation 0.27 Permanent tax cuts Extend alternative minimum tax patch 0.48 Make Bush income tax cuts permanent 0.29 Make dividend and capital gains tax cuts permanent 0.37 Cut in corporate tax rate 0.30 Spending Increases Extending UI benefits 1.64 Temporary increase in food stamps 1.73 General aid to state governments 1.36 Increased infrastructure spending 1.59
www.economy.com
Bang for the buck isn't in tax cuts. Not that that should be a surprise to anyone that's been paying attention the past 8 years.
Posted by YAV at 2009-02-07 09:17 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
i'm not even in the room...
Posted by nanc at 2009-02-07 11:32 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
#9 | Posted by Jak_Se_Mao
The Washington Times? The ONE Washington Times that is OWNED by the Rev. Moonbat? You really should check the content of your gun BEFORE you fire it-in this case you just shot your foot into your mouth.....
Open your mouth about Ignorant, mouth breathing fucks-and discover that Ignorant-mouth-breathing fuck shitting in your piano-is YOU!
Posted by frankf55 at 2009-02-07 03:40 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Sell, sell, sell, sell, sell . . .
Posted by rightisright at 2009-02-08 09:16 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Got gold yet, RR? First there was the Continental. Then the Confederate Dollar. The US dollar is next.
Posted by Ray at 2009-02-08 09:23 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
It's not time to buy gold yet. Easier to tie up capital in shorting the equities indicies.
There's a good chance you'll be able to see soaring bond yields, along with deflation. Don't forget, the USD is, with the only exception of the JPY, the strongest currency. Not encouraging, I know. Like celebrating the healthiest cancer victim on the terminal disease ward. But I'm still not sold on the precious metals. Yet, anyhow. If gold takes off, you'll also huge rise in the grains and oil. Wouldn't that be ironic? Bush left with gas prices lower than he showed up; wouldn't it be funny to see gas go back to $3 under this guy?
Posted by rightisright at 2009-02-08 09:57 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
Well yes. Soaring bond yields mean falling bond prices. Not so good. The US government is running out of credit. You have a way of putting a positive spin on everything, well almost everything.
Except for the dollar, gold has gone to new highs in all other currencies. The dollar is next.
There IS a major world drought putting pressure on food prices. But so far the CRB index of commodity prices is down over 5% for the year. That is to be expected with falling factory production.
By the time you decide to buy gold (physical gold), it'll be too late. That is if you ever decide.
Just comparing notes, RR.
Posted by Ray at 2009-02-08 10:23 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
One does not have to be a fan of Glenn Beck to grasp his message on how fast the money supply is exploding well beyond all historical norms. It takes five minutes.
www.youtube.com
Posted by Ray at 2009-02-08 10:53 AM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
We've been over all this Ray. I'm an equities trader. If I park a bunch of money in gold, I'm basically just sitting there waiting for higher prices.
Easier to buy short ETF's, and trade ultra-shorts on the few rallies we'll be seeing. If gold goes up 50% this year--possible, by the way--I'll be up more than twice that much simply by selling short the TBT's. Or you can take the ultra-gold ETF's, and double the percentage gain on the gold. Careful with that, though--you lose a LOT of your profits on the down days.
We're on the same page on most of the important things. We disagree on the best way to profit from it. Think bigger. The economy is imploding, literally falling apart. So if you believe that the dollar will collapse, you're better off buying some levered ETF's that short the dollar and treasuries, than by buying gold. Your commissions would be nearly zero, and the investment has total liquidity.
Posted by rightisright at 2009-02-08 02:43 PM | Reply | Flag: Flag: (Choose)FunnyNewsworthyOffensiveAbusive
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