Who can we elect that is not a fiscal idiot?

tirk · Jul 8, 2011

Rex_B said: ↑

Don't worry it is probably the rich people's fault.
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The millionaires arent the ones working on or manufacturing these corporate jets are they.

Rex_B · Jul 8, 2011

tirk said: ↑

The millionaires arent the ones working on or manufacturing these corporate jets are they.
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Nah. They are buying them so that people can work on or manufacture them.

tirk · Jul 8, 2011

Rex_B said: ↑

Nah. They are buying them so that people can work on or manufacture them.
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doesnt matter why. point is it punishes working americans. nothing more.

'Horrific' Jobs Report Renews Fears of Double-Dip Recession
Published: Friday, 8 Jul 2011 | 10:42 AM ET

June's miserable jobs report has put the fear of a double dip recession back into the markets.

Getty Images

The U.S. economy added a paltry 18,000 jobs in June, and the unemployment rate climbed to 9.2 percent from 9.1 percent as laid off government workers continued to join the ranks of the unemployed. There were also 44,000 fewer jobs created than previously reported for April and May.

"Even the hours worked slipped. It's just a horrific report. Unemployment going up is not good," said Marc Chandler, Brown Brothers Harriman chief currency strategist.

Stocks were battered, and bond yields slumped as investors rushed to the security of bonds. Investors also sold oil futures, which were rising before the report, and drove up the price of precious metals.

The dollar was higher but off its highs against the euro, as the single currency reacted to assurances from Italy's central bank governor Mario Draghi that Italian banks have enough capital and will pass the stress test.

"In addition to the shock value...we need to seriously question whether a double dip is there. I would say it's back on the table," said David Ader, chief Treasury strategist at CRT Capital.

Many Wall Street economists, and the Federal Reserve, have declared the slowdown in GDP growth in the first half of the year a transitory phenomena, and the weak jobs report now raised the question of whether that soft patch was softer than previously expected. The sluggishness has been blamed on a combination of things, including Japan's supply chain disruptions, high energy costs and a variety of weather disasters across the U.S.

The expectation for the June report was that 125,000 jobs would be added, which included the loss of some 20,000 government workers. Some economists had seen June as the turning point, from which job growth would increase on a monthly basis before returning to the 200,000 level later in the year.

But the report showed that the private sector added 57,000 workers, down from 73,000 in May. Government employment was cut by 39,000 workers, as state and local governments struggle with budget deficits. Revisions showed that only 25,000 jobs were added in May and 217,000 were created in April.
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SabanFan · Jul 8, 2011

It's Bush's fault, still. Obama is fixing it but that takes time. Obama's policies are clearly working. Why, the GDP is up. If you are out of work, blame Bush and continue to give Obama a pass.

Rex_B · Jul 8, 2011

tirk said: ↑

doesnt matter why. point is it punishes working americans. nothing more.
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What punishes Americans again?

The govt. making promises it can't keep?
The govt. spending more than it makes?
The govt. devaluing your currency?
The govt. bailing out big business?
The govt. stripping away your liberty?

Oh wait never-mind. It's the rich people.

LaSalleAve · Jul 8, 2011

Warren Buffett: I could end the deficit in 5 minutes. | The Big Picture

Warren Buffet says.....

“I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.”
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thought that was pretty funny.

shane0911 · Jul 9, 2011

LaSalleAve said: ↑

Warren Buffett: I could end the deficit in 5 minutes. | The Big Picture

Warren Buffet says.....

thought that was pretty funny.
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Funny hell, it sounds like a good idea to me

SabanFan · Jul 9, 2011

And right now spending is nearly 25% of GDP...but Red says everything is fine.

OkieTigerTK · Jul 9, 2011

i've always liked warren buffett. this just gives me more reason to like him!

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Who can we elect that is not a fiscal idiot?

tirk im the lyrical jessie james

Rex_B Geaux Time

tirk im the lyrical jessie james

SabanFan The voice of reason

Rex_B Geaux Time

LaSalleAve when in doubt, mumble

shane0911 Helping lost idiots find their village

SabanFan The voice of reason

OkieTigerTK Tornado Alley

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