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Obama Says Unemployment May Exceed 10% Without Rapid Steps on Economy
  #1  
Old 01.03.2009
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Clock Obama Says Unemployment May Exceed 10% Without Rapid Steps on Economy

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Jan. 3 (Bloomberg) -- President-elect Barack Obama said that Democrats and Republicans need to act with urgency to address the “great and growing” economic crisis, warning of double-digit unemployment if swift action isn’t taken. “These are America’s problems, and we must come together as Americans to meet them with the urgency this moment demands,” he said today in his weekly radio address. “If we don’t act swiftly and boldly, we could see a much deeper economic downturn that could lead to double-digit unemployment.”
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WiseOne's Comments, Dear Obama...more taxes sure isn't going to help. So, that leaves the problem of your promises...HOW are you going to pay for those high and mighty promises? Fact is, you aren't! And, there isn't anything you can do about it. NOW people are going to see the REAL you, I am positive.
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  #2  
Old 01.05.2009
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Funny thing is
the Repubs had no problem spending all their little hearts desired. Iraq, Gitmo, Tax breaks for the wealthy ect, ect...
You MUST spend to stimulate the economy. Remember the great depression? The repubs said it will fix it's self. Well that didn't happen. It took a DEMOCRAT and lots of spending to turn it around.
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Old 01.05.2009
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Quote:
Originally Posted by Smurf-316 View Post
Funny thing is
the Repubs had no problem spending all their little hearts desired. Iraq, Gitmo, Tax breaks for the wealthy ect, ect...
You MUST spend to stimulate the economy. Remember the great depression? The repubs said it will fix it's self. Well that didn't happen. It took a DEMOCRAT and lots of spending to turn it around.
Well... technically Republicans did choose spending as a way to stimulate the economy and arguably made it worse. Not even war has fixed the economy, so tax breaks are not the answer we are looking for here! Maybe the best choice here is to balance the budget... Lets face it, excessive spending and not enough taxation is only a temporary boost to the economy. In the long run it only makes the overall situation with our economy worse. We need to fix the inflationary/deflationary pressures in our economy caused by Congress/the Federal Reserve. Obama has the wrong answers when it comes to the economy and hopefully his economic adviser will talk some sense into him.
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Last edited by sbskeeper; 01.05.2009 at 03.07 PM.
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Old 01.06.2009
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A MAJOR war would fix the economy.
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Old 01.06.2009
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that is what will happen before long all of the wars will be here if not we will have a civil war in the US against the government,PEOPLE AGAINST THE GOVERNMENT,,
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Old 01.12.2009
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I have commented on a similar topic before, and i have to say that a war will do nothing for our economy. After all we have been in two big ones for what? eight years now?......back in the day when America produced goods to equip our soldiers for war, yeah. That created jobs and spending. Nowadays we produce nothing, and all the money that used to fund our economy now goes elsewhere.

The only way out of this is to stop spending. govornment has outgrown it's resources. The more govornment controls, the more money they need to operate. If we keep creating organizations to sanction this and control that, we will tax ourselves right out of our country. Private sector jobs are what keep America going. So if all jobs become public sector....whats the point of even receiving a paycheck?
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Old 01.24.2009
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Originally Posted by skeptic?one View Post
I have commented on a similar topic before, and i have to say that a war will do nothing for our economy. After all we have been in two big ones for what? eight years now?......back in the day when America produced goods to equip our soldiers for war, yeah. That created jobs and spending. Nowadays we produce nothing, and all the money that used to fund our economy now goes elsewhere.

The only way out of this is to stop spending. govornment has outgrown it's resources. The more govornment controls, the more money they need to operate. If we keep creating organizations to sanction this and control that, we will tax ourselves right out of our country. Private sector jobs are what keep America going. So if all jobs become public sector....whats the point of even receiving a paycheck?
Skeptic these wars may have been big but they were not big enough to create a stimulus like WW2. In WW2 everybody stopped what they were doing went to a factory and built tanks, repaired planes or went overseas. America turned into a giant war factory that was our sole dedication, we produced and we provided jobs and spent.


Smurf. First of all alot of repubs are not happy about Bush's wild spending. Most believed he could have exercised more control so you can't make a blanket judgement like that. The free market will rebound eventually. When the economy was first designed the role of goverment in the economy was to try to minimize depressions. Early economists realized that we could affect the free market but only slightly; it is a powerful force of it's own, powered by the will of the people. It ALWAYS works towards balance and the housing bubble combined with thousands of other factors caused this depressionary climate. Now there is crisis people are not spending, taking money out of accounts, foreclosing, losing money in businesses which is further exaccerbating the economic climate. Eventually it will turn around with or without spending. Debt and spending will stabilize and when we hit bottom we will begin producing steadily and the economy will rebound, the question is how long will it take. Spending in the right way might get it going sooner but the question is what is the right way. Everybody KNOWS the answer yet everyone's answer is different...
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