Most of today is going to be dedicated to political predictions for 2011. One from us is that the president probably pushes for tax code reform. (Watch Mark Murray and I discuss predictions for 2011 in one of our recent Inside the Boiler Rooms and in my latest Week Ahead/Year Ahead.) This morning, I took a look back at historical unemployment rates and presidencies. No president has been reelected w unemployment this high. But for a road map for reelection, look at 1982/1983, when unemployment was a full point higher than today at 10.8% a half-century high. But by Dec. 1983, which would line up with 2011, unemployment dropped two-and-a-half points.
Some other items today:
The New York Times takes a look back at some of the top 10 moments of the year politically. No. 1 for its readers was the passage of health-care reform. (Look for a quick First Read look back at 2010 today, with a list of some of the big events with a live poll for you to be able to vote.)
The Washington Post notes that, medical ethicists are "concerned" about Haley Barbour's release of both Mississippi sisters being contingent on one sister donating a kidney to the other "even if the donation is voluntary." "If the sister belongs in prison, then she should be allowed to donate and return to prison, and if she doesn't belong in prison, then she should have her sentence commuted whether or not she is a donor," Michael Shapiro, chief of organ transplantation at Hackensack University Medical Center in New Jersey and chair of the United Network for Organ Sharing's ethics committee, told the Post.
Republicans are upset over the president's recess appointments.
The Times also looks at how EPA regulations which kick in Sunday could impact both the White House and Republicans.
Lanny Davis is in some hot water. The Times says he withdrew from his get this $100,000 a month contract (!!!) with Ivory Coast. The Times says he's been labeled "a kind of front man for the dark side."
Lisa Murkowski was finally certified yesterday, and we'll hear what Joe Miller decides to do today at around 6 ET.
And, Maine is asking for an exemption to a rule in the health care law that "insurers must devote at least 80 percent of the premiums they collect to medical claims or other activities that improve customers' health - leaving no more than 20 percent for the insurer's administrative costs or profits," the Washington Post notes. "Companies that do not spend enough on the right purposes will have to refund the difference to their customers in 2012."
The Post notes that even though concerns have been expressed by a dozen states, "Maine is the only state to have asked the Obama administration for an exemption."


As we move into 2011, David Phlouffes presence will become much clearer. Unlike Rove, he is Not looking for a Democratic controlled Monopoly of America, he's only looking to get President Obama elected to a 2nd term, so that we (America) can get out of this Funk, we were stuck in the last decade"Bush Years". Troops out of Iraq at the end of 2011, if not sooner. Continued hamering across Pakistans border, & across border attacks there.
President Obama said he'd take the Fight to Al-Queada(Taliban) & he's kept his Word. I'll continue to Support President Obama in this endeavor!
What else is NEW? lol
Republicans are in a state of CONSTANT upset!
Need proof? Hang around First Read for a couple of hours... ;o)
I'l go on record and say even more so now that there's a black guy occupying the White House!
I'm with you Rick - I also will continue to support the only intelligent & pragmatic adult in the room!
Thank you President Obama for continuing to be the island of reason amid the sea of insanity!
Care for some popcorn?
Score me some old maids, Red- I still have a few teeth left in this empty head.
I never thought about it this way, but RIck touched on it exactly: if Obama does get a 2nd term, the detractors can settle down and put their energy to use trying to accomplish something OTHER than keeping him from re election. So you see, winning a 2nd term would most certainly be good for the country. Now, let's see how the detractors spin THIS post. When they do, they will just be proving my point further., of course...
How many times will the MSM catch the incoming Speaker, Crying to the Camera?
There's a Tear in my Merlot!
You Betcha!
rick, troops out of iraq by end of 2011 is a no brainer considering Irag has already told us (this past week) that they want us gone by the end of 2011 per Bushes original schedule. That is unless obama bribes the Iraqis into letting US troops stay longer.
I would rather hear of bohner crying tears than listening to pelosi say that we have to pass an act before reading what the act says. Buying a pig in a poke may be fine for raising $$$ at a charity event, but not for political programs affecting all of America.
My political predictions for 2011 & 2012 are that ...
the democrats will fail in their endeavors to continually paint the republicans as the party of no to the American people
The tea party elect will learn some hard political lessons before 2012
FR liberal muck rakers will still rail against O'donnel an Palin even after they are no longer politically viable, while ignoring their own ill-informed left wing radicals and politicians. IE the right can do no right and the left can do no wrong.
Obama will swap out clinton for biden in 2012 to increase his chances for relection.
Both parties will make damaging political mistakes by not maintaining focus on the economy.
Foriegn relations will remain fragile based on the EU's economic condition and terrorist activities including war mongering by Iran and N korea.
Healthcare initiatives and financial reform will be denied/delayed by lack of funding and higher costs than what was originally presented.
Democrats will be more concerned with creating and preserving government jobs.
Republicans will be more interested in having private businesses create private sector jobs.
Politicians will think that by throwing more $$$ into education and expanding the Federal Dept of education that our k-12 can once again compete on a global basis.
The internet will be used more frequently to point out campaign rhetoric that was not followed by the politicians.
FR liberal radicals will still practise a "holier than thou attitude" towards anyone posting an opposing view.
FR moderators will remain non-existant in promoting fair dialoque between the liberal radicals and centrist conservatives.
Obama will continue to put his pants on one leg at a time regardless of how fiesty red head insists that he is just a "black man". Thought he was POTUS?
Individual income taxes will rise regardless of what the politicians say as will many of our "hidden" taxes.
The Mayan calender will reset in Dec 2012
American 2051576 - Spot on! One thing you left out - Bev from Chicago, will still copy and paste and spew her hate and still obsess over the Koch Brothers and Fox News.
Fox New was almost non existent two years ago, and now for many its the only place you can go to get fair and balance news. Why do you think all the libs here go ballistic at the mere mention of Fox... Why do you think they are so threaten.
One major problem here is that Fox ENTERTAINMENT has already admitted that alot of their "news" is not factual, Hard to believe all of the conservatives who still believe every word as gospel.
FOX is not NEWS, FOX is Conservative ENTERTAINMENT and about as reliable factually as watching Saturday Night Live, But then even the dumbest of Democrats do not believe SNL is a NEWS source, LOL
Bo
I agree with you totally
Fox (right wing conservative) and MSNBC (left wing liberal) are both entertainment networks, that occasionally have objective news professionals, but by and large are politically biased to the right and left
American2051576====I have one question for you, if you really think FR/MSNBC is liberal and bias and you get slanted views, then why do you post/read here?
Sue...
I think it's because these righties live to b!tch!
They're rude & disrespectful to our hosts & moderators and bring nothing but whine to the table!
When confronted with the cold hard truth... all they can do is deny & b!tch!
Just my 0.02 lol
american-2051576
My political predictions for 2011 & 2012 are that ...
the democrats will fail in their endeavors to continually paint the republicans as the party of no to the American people
Put this in your noggin, american-2051576...
Yet another study has been released proving that watching Fox News is detrimental to your intelligence. World Public Opinion, a project managed by the Program on International Policy Attitudes at the University of Maryland, conducted a survey of American voters that shows that Fox News viewers are significantly more misinformed than consumers of news from other sources. What’s more, the study shows that greater exposure to Fox News increases misinformation.
So the more you watch, the less you know. Or to be precise, the more you think you know that is actually false
The conclusion is inescapable. Fox News is deliberately misinforming its viewers and it is doing so for a reason. Every issue above is one in which the Republican Party had a vested interest. The GOP benefited from the ignorance that Fox News helped to proliferate. The results were apparent in the election last month as voters based their decisions on demonstrably false information fed to them by Fox News.
http://www.alternet.org/story/149193/study_confirms_that_fox_news_makes_you_stupid
=============================================
Now does that sound like Democrats? Since Fox is the Republican Headquarters I would say "NO".
Ah Beverly, you can cut & paste from the liberal blogs with the best of them. Please keep me laughing through 2011 with your posts.
Laughing from the pain, safecracker? The truth hurts, doesn't it? That isn't just from a 'liberal blog', that is from a study conducted by a University using actual data.
FDD
Speaking of FDD, Safecracker and American seem to be the weekend/holiday 'fill-ins' for Joe, JoAnna and NJ NB. The regulars will be back from paid leave next week.
Troll!
Drive by, thanks for elevating my status from interested to a media performer.
Matthew, I wonder about the liberal rants from university studies. Haven't we seen inaccurate information from university programs that lean to protect thoughts that continue to promote failed science? and no, I don't fear the truth. If my thoughts are proven to be incorrect, I will admit to my error and correct my premise. Will you?
Self identifying there, thetotas?
Good point, DBO. Hadn't thought about it that way.
No, safecracker, you will not admit it as you have yet to admit being wrong when you have been shown to be wrong, more than once on this very blog. And yes, I already have on this very blog.
10,000 news organizations across the globe,,,,,,,,Republicans call them ALL Liberal MSM except one and the one they do believe has admitted publicly that most of their programing is for Conservative Entertainment and NOT a factual news source.
Beverly: could anti-american and thetotas BE more boring? Their problem with you is that they can't keep up. If they could write as well as you do, they would not be so angry.
newday...
you think cut and paste is the equivalent of writing? the only "writing" beverly does is calling non-colored people racists and agreeing wholeheartedly with absolutely everything feisty redhead says.
If she had anything remotely interesting or original to say it might be worth reading.
My New Years resolution is to continue to 'copy & paste' for two reasons:
1.) To bring to light FACTS that have not been covered by MSNBC.
2.) To continue to drive the right wing nit wits bat sh!t crazy by exposing the TRUTH! lmao
If these articles are of no value then the question becomes WHY do they continue to read and b!tch about them!
The 'normal' thing to do would be to scroll past them...
The truth is indeed a 'scary' thing...
Happy New Year Feisty !!
Thanks for shining a light on the truth on a daily basis.
Thanks Dennis!
Wishing you & yours a Happy - Healthy & Prosperous 2011!
beverly et. al. liberal bloggers above. - It is a cinch that none of you read Bevs link from which she and yourselves seem to think that it states facts. Soi read on and prepare for your bubble to be burst. BTW keep bevs link handy, you will need it.
Hmmmmm... beverly. Your link dated dec 2010 stated that the information gathered was from a NBC/wall street poll dated August 2009. Guess that explains why Obama called the nov 2010 election a "shellacking" of democrat candidates by the American voters.
Seems that your data and "poll" results are over a year out of date. Rather surprised that you or your "link" didn't mention this. While you may choose to believe that the American voter is "stupid" I do not. They may be ignorant at times (of which you and your cohorts never are, LOL!), but given time (in this case 14+ months) they have the ability to discern facts that are important to them, regardless of source.
Then again lets not forget the other survey that was referenced and conducted in Nov 2010 that stated that in a survey...
of American voters that shows that Fox News viewers are significantly more misinformed than consumers of news from other sources. What’s more, the study shows that greater exposure to Fox News increases misinformation. "
I reviewed the survey results and found that it did not support your and your links argument whatsoever. If anything it suggested that the printed media (including online publications) and major broadcast news were the main sources that the voters relied on. Please note that MSNBC, FOX and CNN had their own polling blocks.
Can anyone who groaned through the onset of political ads prior to Nov 2, 2010 not agree that the majority of them were patently and grossly biased?
So bev it looks like my prediction you so eloquently repeated has gotten its first confirmation as being true
Then there is the PIPA reference dating from 2003 on perceptions. I question whether the numbers it reported in 2003 are still representative of todays media perceptions as you all should as well.
To look forward and try to predict what will be, it is instructive to look back at what was, to look at the current situation and then compare the two. We should never forget that infamous saying that if we ignore the past, we are doomed to repeat it. Now, that is not always a bad thing, look at the economic growth we had from the late 1930s (when the depression was finally turned around and growth started to return) to 1974 (the first major recession since the Great Depression). But it certainly can be, look at the beginning of the 1800s to 1929, a period that experienced a major recession or depression every 14 - 22 years.
What are the similarities of the periods of the 1800s - 1929 and 1974 - 2008? Little, no, or ineffective government regulation of capital and markets, downward pressure on wages and a massive transfer of wealth from the bottom 98% to the top 2%. This is history with irrefutable facts and data to back this up but the Republican/TP Inc. Party refuses to acknowledge factual data and insist on policies that have been shown to not work . . . unless you are in that top 2%. Just take a read of the conservatives who will reply to this comment and you will see my point.
Lessons we should have learned:
1) An unregulated free market has no conscience, no humanity and no sense of fair play. The free market can not be trusted to lift everyone's boat. It must be watched and smart, targeted regulation used to ensure a flat and fair playing field for all. Some will still get rich and some will still fail but when the field is flat and fair, everyone wins.
2) Capitalism is good but only when given limits. If not given limits, greed takes over and the result is a plutocracy where everyone loses. Low to no income for 98% of a population results in higher crime rates, higher health care costs due to more catastrophic illnesses that could have been prevented, less productivity and a cultural blight on a nation's character.
3) Government is not always the answer but it can be and/or also be part of the solution. Government is necessary as only a government has the power and reach to implement things like the national interstate highway system that supports commerce, the FAA that ensures safe airways for air commerce (passenger and freight), national defense, food safety, adequate health care to ensure there is a healthy population that can produce, and education to ensure there is an intelligent, innovative and more productive workforce. Big government isn't the problem, inefficient government is. As it turns out, government can run efficiently, it only cost $0.03 of every Medicare dollar spent to administer the program while private industry spends over $0.30 and the SS administration has a similar cost structure. Not to mention the Marshal services, the FBI, the Interior Department and the State Department to name a few other efficiently run operations.
4) Tax cuts to wealthy individuals do not create jobs. Never have, never will. These cuts do not generate much more, if any demand, and demand is the engine of job creation. The money that the wealthy receive in tax cuts, for the most part, goes to savings. Because virtually no demand is created, any money invested in companies goes to pay off debt, increase profits (less debt service payments = higher profit on the same productivity), purchase other companies (not a job creating purchase, usually a job killer) and bonuses for the top executives who have just cut expenses by laying off people and cutting wages and benefits (which, of course lowers demand for products).
5) Tax cuts to middle and low income people do create jobs. Always has, always will. These people take that money and make purchases. They increase their consumption which creates more demand and companies have to hire more people to meet that demand. Yes, some will put some of that money in savings and pay down debt but most will use at least some, if not all of the extra money to make purchases.
5) Targeted tax cuts to businesses can create jobs but only if demand for products exist.
6) Government spending during a recession actually does 'kick start' the economy. UI generates $1.60 of additional economic activity for every $1.00 spent, Once the economy reaches a self-sustaining level (which has not yet been reached), government spending will be cut back because fewer people will be depending on the government safety net. Data doesn't lie so you don't have to believe me, here is an article filled with actual data: http://www.cbpp.org/cms/index.cfm?fa=view&id=3252
7) When revenues start to rise after a recession, that is not the time to find more uses for that money (or give it away in the form of a 'tax rebate' as GW Bush did), that is the time to pay down the debt it was necessary to create during the crisis. We are not yet at that point.
8) When industry writes the tax laws and regulations, that is a recipe for disaster.
Well, you get the idea. All of these lessons can be gleaned by looking just at our own history. Today we have a political party, the Republican/TP Inc. Party, that is he!! bent on reversing everything that is either bringing us out of this recession, prevented recessions in the past or help soften the blow of an economic downturn.
Because of this, my prediction is that, if they succeed, there will be more poverty, more homelessness, more crime and more deaths from malnutrition than this country has ever known since the Great Depression. Let's not go back to the pre-recovery days when there were shanty towns and old people begging in the street because they had nothing to retire on. Let's not go back to labor laws that allowed child labor and wages so low that people who were working were still dying from malnutrition while the top 2% ate caviar and vacationed in Europe.
I hope my prediction does not come true. I hope that the next two years illustrates just who the Republican/TP Inc. party really represents and the American people figure out it isn't the poor nor is it the middle class. If that happens, 2012 should be a very good year for every American, not just the rich.
Matthew
Articulate and detailed, but in my opinion a little over reaching and more interpretations and theories then lessons learned in several cases. As I have heard on MSNBC more then once, you can have your own opinions, but not your own facts.
1) Your situation in now way describes a free market, but rather a social democracy with a small elite ruling class
2) See 1 above
3) See 1 above
4) Too simplistic and merely a parroting of the liberal party line, these tax cuts and other elements of the business atmosphere have and can generate business expansion and thus jobs. These tax cuts without the other needed elements of a healthy atmosphere for business expansion leads to off-shoring.
5) Hasn't seemed to work these last two years has it
6) If this were true then the economy should have grown by leaps and bounds with Stimulus #1 $850 Billion and Stimulus #2 $900 Billion over the past two years, to say nothing of the bailout of GM and AIG
7) WE are at the end of the recession, actually well past it according to experts and merely experiencing a jobless recovery, but I agree it is not the time to cut taxes for anyone (including the middle class), not time to spend money on ObamaCare or on college for illegals or other liberal giveaways) and it is time to cut spending across the board and to pay down the debt/deficit
8) When the government over regulates and writes legislation to further the interests of unions rahter then the entire business community, then business expansion and growth is overseas.
You are totally partisan in blaming the bad on the Republicans and giving credit for the perceived good to the Democrats and have no idea what they intend to do. They want to have a balanced budget, to reduce debt, increase government revenues through tax reform and improve the business atmosphere and create jobs and business expansion for all Americans. They want people to be rewarded for hard work, innovation and effort and they want to eliminate the welfare underclass that is now so prevalent in the U.S.
All of those things are laudable in my mind.
If President Obama and the Democrats are truly willing to give and take and work for the common good of debt reduction and deficit erasure then things will get better.
The key dynamic in Washington right now is that in order for anything to get done, the two sides have to work together.
Otherwise both parties are the party of No.
Happy New Year to all
And now let the abuse begin.
Robert in Ohio
1) Your analysis is incorrect and what I wrote is based on historical precedent and empirical data.
2) See #1
3) See #1
4) You are wrong, empirical data backs me up and this was based on independent reading, including a book by conservative economist Bruce Bartlett.
5) Again, you are wrong, empirical data backs me up again.
6) Wrong again, as real economists, both left and right, have pointed out, the stimulus was too small and the ratio of spending to tax breaks was slanted way too much toward tax breaks. The stimulus has also been confirmed to have helped some, but not nearly enough due to its small size, by empirical data. You can deny it all that you want but you will still be wrong.
7) Wrong again, Robert. I did not say that there should be no tax cuts, I said that there should be no tax cuts for the top 2% as they do nothing to stimulate the economy, all they do is create more debt without benefit to the economy. And this is absolutely the time that the government should be spending money to create demand that this jobless recovery is not creating. As both left and right wing economists have said, this is exactly not the time for the government to stop spending. Read it again, I address the reasons as based on my reading of books by trained economists and empirical data. I chose to believe trained economists and empirical data.
8) You actually got one part of this correct and I agree that over regulation is not good. However, the rest of your statement is way off base. Industry has had a huge influence in writing and removing regulations since Nixon came in office and have been only having more influence since then. How has that worked out? Well, from 1929 until 1974 there was no major recession with almost 50 years of uninterrupted growth. Since the first major downturn in 1974 there has been a recession every 7 - 10 years and they have only been deeper and harder on the middle class with each following recession.
Hard on the Republican/TP Inc. Party? You betcha since all of the policies that have brought about every single recession and depression our country has ever experienced since 1817 has been implemented by either the Republican/TP Inc. Party or their like minded predecessors. But to be fair, there have been Democrats that have backed these same policies and I also blame them. On the whole, however, the Republican/TP Inc. people and their like minded sycophants, Democrat, Independent or other are to blame. Let me lay out a metaphor for you:
A murder has occurred and the police are called. The uniformed police arrive and call for a detective to come to the scene. The detective arrives, looks at the dead bodies and confirms that a murder has occurred. After coming to that conclusion, the detective arrests the uniform cops on the scene. Why? Well, a murder has been committed, the uniformed cops are on the scene when the detective arrives so they must have committed the murder. Upon further investigation, it is determined that the cops obviously did not commit the crime and absolutely airtight proof indicates it was another person who committed the crime. In fact, there is film of someone else committing the murder. But that does not dissuade the detective, despite the incontrovertible evidence he still insists that it is the uniformed cops who committed the murders.
Now, replace the uniformed cops for Democrats and President Obama, replace the detective with the supporters of the Republican/TP Inc. Party (and, evidently from your post, this includes you) and replace the murderer with the Republican policies supported and passed over the last 40+ years and you have our current political and economic situation.
I disagree that the Republican/TP Inc. Party wants all of those laudable things you say. Their very actions and political policies create quite the opposite. Their policies result in the redistribution of wealth from the poor and middle class to the top 2%. Their policies and policy statements reveal a total lack of respect for anyone who is poor or disagrees with them. Karl Rove, Tom DeLay and Frank Luntz have specifically tried to implement a permanent Republican/TP Inc. Party majority. When anyone dares to question the Republican/TP Inc. Party, they are immediately called unAmerican, socialist, communists, Nazis, fascists, etc. Granted, the left has thrown some of those same epithets at the right but I have not participated in that.
So your proposition that the Republican/TP inc. people are such angles that only want the best for everybody fails under close scrutiny. Their very actions run counter to that proposition rendering the premise false. As to cooperating, just saying 'No' to everything, including your own proposals and bills you co-wrote, is not exactly fostering an atmosphere of cooperation. The 111th Congress's Senate had to deal with 136 cloture votes, every single one of them from the Republican/TP Inc. Party. When cloture was finally passed, most of those bills had bipartisan support and were unchanged from when they were being blocked.
So, again, yes, it isthe Republican/TP Inc. Party's fault.
You say you have empirical data, then let's see it
The bulk of your post is like a bullying the schoolyard hollering and pushing
Didn't impress me them, doesn't impress me now
There's the rub Robert, there is no 'real' empirical data. Oh sure there are probably data that can be made to represent any number of ideological "facts", but in the end it's all smoke and mirrors.
The lefties, and righties for that matter, are caught in a perpetual game of trying to one up each other. On this board it seems, though, that the lefties think that by coming up with mutations of 'republican' they are winning the game.
I saw you post before that you're an independent, which is why I find it hilarious that the leftie is getting his panties in a wad when you rebut and refute his assertions.
Happy New Year.
Robert - good luck on having matthew provide any links not generated by liberal web sites. I especially like how many liberals cite the trickle down/thru effect of $1 UI spent creating $1.60 in stimulas but that the same effect does not occur when anyone else spends $1. They claim trickle down/thru economics doesn't stimulate the economy, but state time and time again that each $1 in UI does as it trickles down/thru. Must be something different in the UI dollar vs the rest of our currency.
BTW, I enjoyed your post and your rebuttal to matthew, may you also have a safe and prosperouis new year.
american,
“I especially like how many liberals cite the trickle down/thru effect of $1 UI spent creating $1.60 in stimulas but that the same effect does not occur when anyone else spends $1.”
Actually it does occur when anyone “spends” a dollar. What you are missing is that they are referring to is dollar received v. spent. The UI spends every dollar received where employed people invest and save which means not every dollar is spent.
The New American Economy - Bruce Bartlett
The Predator State - James K. Galbraith
Wealth and Democracy - Kevin Phillips
The Return of Depression Economics - Paul Krugman
The Big Short - Michael Lewis
The Great Crash: 1929 - John K. Galbraith
http://economistsview.typepad.com
http://www.cbo.gov
http://cbpp.org
http://www.epi.org
http://www.npc.umich.edu
http://www.treasury.gov
The above list of websites and books will give you all of the empirical data you want. You just have to take the time to look and be capable of reading comprehension to understand what you are reading.
Robert in Ohio an Independent? That is a laugh. He may claim it but his posts expose that for the lie it is.
Chef Darrell, stick to cooking because you know nothing about economics. The action you describe for the dollar is called 'demand' or 'trickle up' economics. In trickle down, the dollar starts at the top as an investment and trickles down. In demand or trickle up economics, the dollar starts at the bottom with the purchase of a good or service.
american, your statement about me not posting sources exposes your reading comprehension deficit as you have posted responses to posts of mine that contain sources. You really aren't very good at this, are you?
Now, until you three take the time to do the research, reading and studying that I have (and I just listed a small portion of my sources), then you have no intellectual leg to stand on to refute anything I say about economics. Your posts just expose you for the low information Republican/TP Inc. Party supporters that only know what Faux Noise, Rush Limbaugh (yes, Chef Darrell, I actually heard RL using your dollar analogy), Glenn Beck and Sean Hannity tell you.
FDD
Matthew
Since you are obviously much better read then I, can you make easier on me and let me know which of your sources support which of your assertions.
That way I may learn in an orderly manner and not be a bother to you again in the future, since I know see that you are a learned liberal scholar and in much demand
Thanks in advance for the listing of citations to your points in previous posts.
Robert,
So when you can no longer defend your position you use sarcasm.
Bruce Bartlett is far from a liberal, Robert. You might want to look him up.
And actually, I do owe Robert an apology, he does criticize the Republican/TP Inc. Party once in a great while and could be independent of a party but he is definitley a right wing conservative who supports the policies of the Republican/TP Inc. Party.
dennis in columbus - I have no problem with understanding the trickle down/through concept of $$$ flowing into and through the economy. But I do have concerns with the liberals that tout that this type of trickle down works but trickle down economics doesn't. I am just trying to make those proponents of one and not the other realize they both stimulate the economy.
It is also a no brainer that those with a discretionary income will stimulate the economy on a broader level than those with a fixed income (UI,SS). Even those saving or paying down debt will effectively stimulate the economy over the long term. Where long term is good, short term not so much so.
I realize that mark zandi ( a moodys analyst) and a darling among many liberals, has created (or at least supported) these multipliers, but I do question his assumptions made in arriving at them. I mean at $1 creating an effective return of $1.60 in the short term, we should be booming with this type of ROI and I am not even an economist, just another American trying to make the money last to the end of the month. At this stated ROI, I would think that the government would want to make sure that those long term unemployed be again brought back unto the unemployed payroll, rather than just becoming part of the actual total unemployed in America.
Regardless, thank you for your reply and may you have a safe and prosperus new year.
dennis in ohio, ref post #6.7 Isn't that more of a requirement for FR liberal posters?
American,
The trickledown you are talking about is where the money flows from the wealthy to the middleclass. It worked in the 80’s because the rich invested in US businesses and started small businesses here in the US.
However in the last 10-15 years the rich have been investing a larger percent of their wealth in offshore businesses. There are many complex reasons that this is happening, not just unions and taxes rates. Look into tax code to see the loopholes for corporations that due business outside the US.
I was a planning manager when our company decided to build a plant in another country. There were several cost/profit considerations. One was cheaper labor another was the property tax deferral plus the reduced transportation costs because the new plant was closer to some of our customers. We also got a huge US tax credit for the expansion even though it was in Ireland.
As for the long-term unemployed – I’m sure that many would like to extend benefits beyond 99 weeks however the Conservatives would not approve the expenditure. Clearly the best thing for all is to find a way to put all of them back to work.
I think part of the fear about any additional extensions is that many jobs will never return and the new normal for full employment will be about 6.5%. No politician has the balls to admit to it.
American,
“dennis in ohio, ref post #6.7 Isn't that more of a requirement for FR liberal posters?”
Posters, liberal and conservative, use sarcasm. I rarely use it and seldom see any humor in its use.
dennis - good reply both times. Never knew sarcasm was supposed to be humor, just another way of putting down someone else. I rarely use sarcasm outside of FR blogs myself, but do find it somewhat refreshing to use it on FR to counter the predominance of liberal sarcasm and condescension. Besides, I have not seen FR monitors take any action against posters. Outside of FR the monitors are more than willing to slap down posters that show even a small amount of disrespect not related to the topic at hand.
BTW - I thought robert showed considerable restraint in his request for matthew to back up his points with direct links to specific items that matthew said he could verify with data. The fact that matthew likes to post with condescension and sarcasm can only prompt one to do the same.
Again, may you and your loved ones enjoy the new year.
american, you mistake pity for your ignorance as condescension and sarcasm.
Matthew, Houston, TX
the top 2% is slowly killing off their way of life. Why, they are destroying the very class (whether it's Middle or Lower) who buys their products and services.
People are overextended. There is less and less of expendable income whether it’s because of higher taxes, higher medical premiums or bills, higher gas, food or anything associated with daily living prices.
What happened when people stopped buying houses or even clothing. How did retailers like that?
These were things we were reading about in 2008:
You cannot argue with these people. They will tell you that it’s Obama’s or Clinton’s fault.