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(AEI Ideas)   Let's take a wee look back at the Obama Administration economic predictions with and without the Stimulus. 5.3% unemployment? That would be absolutely Bush league   (aei-ideas.org) divider line 31
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2450 clicks; posted to Politics » on 06 Jul 2012 at 12:09 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-06 10:39:17 AM
7 votes:
The American Enterprise Institute is not "Some Guy", Submitter.
2012-07-06 10:40:45 AM
4 votes:
whoo boy, freeper friday is coming fast and hard this morning.

a) the obama administration underestimated the severity of the bush recession
b) they revised their estimates accordingly and admitted making a mistake (when was the last time you heard a republican admit a mistake?)
c) without the stimulus (which every single republican in the house voted against), unemployment would've peaked well north of 11 percent, perhaps nearer 16 percent

so, yes, obama predicted that the recovery would greet us as liberators. turns out it requires quite a fight. pretty sad, though, that the enemy we're fighting is the goddamned republican party.
2012-07-06 12:28:17 PM
3 votes:
Without the stimulus, we'd be absolutely power-f*cked right now.

We know this, because the right-wing alternative is exactly what f*cked us in the first place.

The argument that since the stimulus didn't have the best possible outcome, that we thus should return to digging our own graves with supply-side nonsense policies, is the epitome of wall-licking retarded.
2012-07-06 10:59:23 AM
3 votes:
And Republicans have done nothing to encourage job growth. Instead, they've focused on attacking women and gays.

The Teabaggers who came to power in 2010 only made things worse by deliberately refusing to raise the debt ceiling until the last possible second, causing the U.S. credit rating to be downgraded. Now they're pulling the same shiat again.
2012-07-06 03:06:54 PM
2 votes:

whidbey: soy_bomb: whidbey: Maybe if the Republicans hadn't fought Stimulus every turn of the way and insisted upon time limits and tax cuts, we wouldn't be talking about this.
Oh wait. We would. We're talking about an opposition that finds outrage in Obama putting brown mustard on his hamburgers.

When "The Stimulus" passed, Democrats controlled the House, Democrats controlled the Senate and Democrats controlled the White House. If "The Stimulus" failed, it is a Democrat(ic) failure.

Pretty sure it was Republican threats to filibuster and demand what they wanted that killed it.

If there was a failure in the Democratic party, it's that they did not purge the Blue Dogs and other conservative elements out of the party.

But you're welcome to keep repeating the lie that the Democrats had Absolute Control over the US government. We'll keep laughing.



This thread is full of GOP trolls. You can tell they are trolls because they haven't been able to identify a single goddamn thing that the republicans have pushed for in the past 2 years (while they controlled the house) that would have actually helped the economy more than anything Obama did.
2012-07-06 03:05:01 PM
2 votes:

soy_bomb: whidbey: Maybe if the Republicans hadn't fought Stimulus every turn of the way and insisted upon time limits and tax cuts, we wouldn't be talking about this.
Oh wait. We would. We're talking about an opposition that finds outrage in Obama putting brown mustard on his hamburgers.

When "The Stimulus" passed, Democrats controlled the House, Democrats controlled the Senate and Democrats controlled the White House. If "The Stimulus" failed, it is a Democrat(ic) failure.


How do you know it failed? Look, our problems run a lot deeper than "we should have spent $1.2 trillion instead of $800 billion," or "taxes and regulations stifle growth." We have systemic underinvestment in education, infrastructure, science, and technology. We have health care costs that have run amok and devour a huge portion of our GDP. We have huge problems with racial segregation and income inequality. And Washington tends to sit by and do nothing about it. I can at least give Obama props for taking on the healthcare industry. It could cost him re-election, but damnit, at least he made a real effort to reform a sector of the economy that desperately needs reform.

The root of Washington not having many real solutions to the average person's problems is that big money influences elections like no other. A business like Comcast can donate millions of dollars to campaigns each year. Those donations allow it to perpetuate its monopoly and make a ton of money, while giving the shiattiest customer service ever. A firm like Bain capital can cannibalize troubled companies, make millions of dollars, then watch the company go bankrupt (thus imposing a huge cost on everyone else) and simply walk away. And just to sweeten the deal even more, they bought favorable tax treatment on that income through campaign contributions.

Those are just a few examples, but until we make a serious effort to clean up campaign finance (number one priority - get rid of citizens united), it's just going to keep getting worse. We'll have a republican, then democrat, then republican, then democrat, and so on. They'll get in pissing matches, argue about whose gaffes were worse, accuse each other of being fascist/communist/whatever, and the media will eat it all up while providing no substantive coverage. And nothing will get fixed.
2012-07-06 02:52:17 PM
2 votes:

Job Creator: trey101: Chummer45: trey101: SacriliciousBeerSwiller: BillCo: It's too bad our great leader spent 1.5 years cramming a bloated welfare plan down the throats of the American people when he should have been focused on jobs and the economy.

And yet, you'll be the first to attack him for saving the American auto industry.

F*ck you.

Yep, he sure saved it alright... with TAXPAYERS money.... have you even glanced at GM stock recently? The US Treasury owns around 30% of that crap. It opened at 34.26, rose to as much as 38 and is sitting at 20.22 as of 12:45pm July 6... according to CNN the stock needs to reach 51 before taxpayers break even.

So... who saved the Auto industry? Taxpayers, not Obama... he just had the Treasury write the check.

And he gave how much to Chrysler who then turned around and sold a huge chunk to Fiat, who just the other day increased their share of Chrysler to 61.8% ownership. http://online.wsj.com/article/BT-CO-20120703-705610.html

Is that how you save the US auto industry? By giving much of Chrysler to Fiat for pennies on the dollar?

http://money.cnn.com/2012/02/14/news/economy/romney_gm/index.htm


What should he have done differently, and how would it have improved the economy?

You come into the conversation with questions? Not a single statement meant to illicit a thoughtful response, just a simple question that would be on a History test for the 6th grade and is completely irrelevant and subject to many interpretations. Sounds much like a question that they ask a Miss America contestant, loaded, no true answer only opinions.

So you have nothing to offer?

It's a good question. Why won't you answer it? Is it that you have nothing to offer other than "hur hur 0bama"?



I honestly cannot think of any upside to a GOP takeover of the government. They're going to keep running deficits, cutting taxes for the rich, enacting more handouts to corporate and special interests, and may (but probably won't, because it would be too unpopular) gut social services. And, we'll go back to the lax regulation that led to the financial sector chaos in 2007/2008.

Seriously, what does the GOP have to offer nowadays except for vitriolic attacks on and criticism of Obama? I honestly would like to know. I'd much rather have an opposition party with legitimate ideas for solving the country's problems.
2012-07-06 01:45:22 PM
2 votes:

I_C_Weener: Must be Bush' fault.


If you understand, then why are you so upset?
2012-07-06 01:07:42 PM
2 votes:

dosboot: The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration

The U-6 unemployment rate is now up to 14.9%

780,000 more women unemployed today than when Obama took office

Give President Peace Prize (Libya, Somalia, Yemen, Pakistan, Afghanistan, Iraq, The "Kill List" etc.) a Nobel Prize in Economics


It's almost as if an entire political party has brought all its might (including a 24hr media empire) to bear on not only making Obama a one term president (and, in fact, admitting that's their primary goal, not the economy) but also have been purposely trying to wreck the economy toward that end.

No, that's crazy talk...no political body could be so evil as to wish America fails just so the other side doesn't hang on to the White House. Why, those folks would be so evil, they'd spend most of their time trying to limit civil rights and waging a war on the female gender while simultaneously trying to force religion (THEIR religion only) into Government. Nobody is that evil. That's Disney villain bad. That's Doctor Doom level bad. No political party could become so corrupt as to honestly wish harm on millions of Americans...could they?
2012-07-06 12:54:39 PM
2 votes:
Republicans cheer as the economy continues to struggle. More poor, unemployed people with no or inadequate health insurance and other essentials is completely awesome to Republicans because all that matters is beating Obama.
2012-07-06 12:35:52 PM
2 votes:
man, if only Obama could be like Bush and allow the largest terrorist attack on american soil to take place on his watch... then invaded a country that had nothing to do with it spending trillions of dollars WHILST cutting taxes.

history's greatest monster...
2012-07-06 10:40:57 AM
2 votes:
Let's take a look at who we could have had as our President and VP instead.

Yeesh. Yeah. Obama and Biden still look great.
2012-07-06 03:32:24 PM
1 votes:

karnal: What do the liberals do when the chips are down?


Clean up the Republicans' mess?
2012-07-06 03:31:32 PM
1 votes:

meat0918: Seems like you need a Bachelor's degree to succeed these days...


elitist!
2012-07-06 02:26:28 PM
1 votes:
Maybe if the Republicans hadn't fought Stimulus every turn of the way and insisted upon time limits and tax cuts, we wouldn't be talking about this.

Oh wait. We would. We're talking about an opposition that finds outrage in Obama putting brown mustard on his hamburgers.
2012-07-06 02:18:49 PM
1 votes:

trey101: Chummer45: trey101: SacriliciousBeerSwiller: BillCo: It's too bad our great leader spent 1.5 years cramming a bloated welfare plan down the throats of the American people when he should have been focused on jobs and the economy.

And yet, you'll be the first to attack him for saving the American auto industry.

F*ck you.

Yep, he sure saved it alright... with TAXPAYERS money.... have you even glanced at GM stock recently? The US Treasury owns around 30% of that crap. It opened at 34.26, rose to as much as 38 and is sitting at 20.22 as of 12:45pm July 6... according to CNN the stock needs to reach 51 before taxpayers break even.

So... who saved the Auto industry? Taxpayers, not Obama... he just had the Treasury write the check.

And he gave how much to Chrysler who then turned around and sold a huge chunk to Fiat, who just the other day increased their share of Chrysler to 61.8% ownership. http://online.wsj.com/article/BT-CO-20120703-705610.html

Is that how you save the US auto industry? By giving much of Chrysler to Fiat for pennies on the dollar?

http://money.cnn.com/2012/02/14/news/economy/romney_gm/index.htm


What should he have done differently, and how would it have improved the economy?

You come into the conversation with questions? Not a single statement meant to illicit a thoughtful response, just a simple question that would be on a History test for the 6th grade and is completely irrelevant and subject to many interpretations. Sounds much like a question that they ask a Miss America contestant, loaded, no true answer only opinions.

So you have nothing to offer?



That's a pretty solid troll, and pretty much sums up the GOP way of handling any serious question asking for solvency to their argument. I applaud you.
2012-07-06 02:18:19 PM
1 votes:

dosboot: The U-6 unemployment rate is now up to 14.9%


Ah yes, the method that Republicans only started to use since January 20, 2009.

Wonder what happened that day which made Republicans so intellectually dishonest about unemployment numbers?
2012-07-06 01:46:58 PM
1 votes:
Based on what I'm reading in this thread, there's nothing left on the barn floor but a red smear and a few feathers.
2012-07-06 01:43:51 PM
1 votes:

RsquaredW: I_C_Weener: I did see that 85,000 went on disability last month. That seems high doesn't it? Lot of disabled people who just happen to have reached the end of their unemployment benefits....coincidence?

http://news.investors.com/article/617233/201207060945/disability-clim b s-faster-than-jobs-under-obama.htm

Who killed the extension of unemployment benefits?


Why was it necessary? From that same article...

"The unemployment level has been above 8% for 41 consecutive months. To put that in perspective, in the previous 60 years, the unemployment rate topped 8% in a total of only 39 months."

In the past 60 years we have not seen anything like this. Must be Bush' fault.
2012-07-06 01:24:40 PM
1 votes:
Well Some GuyThe American Enterprise Institute also spent a lot of money and sweat selling the mandatory purchase of health insurance from private vendors as the answer to rotten health care so take everything from them with a grain of salt, AEI's sure to flop on this one too.
2012-07-06 01:16:37 PM
1 votes:
praymantis
Very good really? Right now according to RealClearPolitics, it is going to come down to about 11 states

Oh yeah, Romney's chances in Pennsylvania, Michigan they're lookin' good. And his stance on the auto bailout no doubt will give him a last minute suge in Ohio. Plus, given what a brilliant orator and charismatic guy Romney is, why, anything could happen.

But I was down at the dry cleaners, picking up my brown shirts, and the Small Business Owner slipped me the memo that, just in case that doesn't work out, there's a new plan:

Start saying things like, "if Democrats don't steal the election," and "if they don't commit Chicago-style vote fraud."

That way when...uh, I mean, *if* the dynamic duo of Romney and Gene Eric Whiteguy should lose, we have a narrative. The election was stolen! They didn't let us purge those illegals off the rolls!

And those libby libs, who all cried foul in 2000, why they'll have to accept that we can do the same this time.

So really, when we lose in November, we will have won. Because we have the will. A Triumph of the Will, you could say.
2012-07-06 01:16:14 PM
1 votes:

SkinnyHead: Looks like the economy would have recovered much better if Obama had just done nothing. He really messed things up.


Oh, hey...Where the hell have you been? I thought you were dead. Though now that I think about it, aneurysm ,advanced syphilis, and brain cancer would all explain both your absence and stupidity.


azazyel: Communist_Manifesto: Wait, you mean economists got a prediction wrong?????? Say it ain't so!!! Economic predictions are about as useful as prayer.

Link

"The only thing worst than an armchair economist...is a professional economist."


I second the...
Nah. Worse than a pro economist is an Austrian-school "economist" At least the pros back their shiat up with facts and figures.
2012-07-06 01:04:08 PM
1 votes:

soy_bomb: patrick767: Republicans cheer as the economy continues to struggle. More poor, unemployed people with no or inadequate health insurance and other essentials is completely awesome to Republicans because all that matters is beating Obama.

The only things that have been shovel ready in Obama's economy are bullshait excuses like this from his brown nosers.



What should Obama have done differently, and how would it have improved the economy?
2012-07-06 01:02:35 PM
1 votes:

trey101: SacriliciousBeerSwiller: BillCo: It's too bad our great leader spent 1.5 years cramming a bloated welfare plan down the throats of the American people when he should have been focused on jobs and the economy.

And yet, you'll be the first to attack him for saving the American auto industry.

F*ck you.

Yep, he sure saved it alright... with TAXPAYERS money.... have you even glanced at GM stock recently? The US Treasury owns around 30% of that crap. It opened at 34.26, rose to as much as 38 and is sitting at 20.22 as of 12:45pm July 6... according to CNN the stock needs to reach 51 before taxpayers break even.

So... who saved the Auto industry? Taxpayers, not Obama... he just had the Treasury write the check.

And he gave how much to Chrysler who then turned around and sold a huge chunk to Fiat, who just the other day increased their share of Chrysler to 61.8% ownership. http://online.wsj.com/article/BT-CO-20120703-705610.html

Is that how you save the US auto industry? By giving much of Chrysler to Fiat for pennies on the dollar?

http://money.cnn.com/2012/02/14/news/economy/romney_gm/index.htm



What should he have done differently, and how would it have improved the economy?
2012-07-06 12:59:30 PM
1 votes:

praymantis: theknuckler_33: Let's not forget that Europe's woes are a drag on our recovery.

All of the above does not matter to the average voter. All they care about is how the economy is doing right now and if they have work. You can scream every prediction there was and say see its better. It is not better to most of the American people and that is Obama's problem in November. I don't know if he will win or lose but if the economy does not get any better anytime soon it doesn't look good.


I would argue it is better to most of the American people. People who didn't lose their job but lost 1/2 the value in their 401K have pretty much been made whole again. Many of the people who lost jobs as of about September 2009 have gotten jobs... roughly 3 million IIRC, we're out of Iraw, OBL is dead, and we're dwindling down in Afghanistan... and our alternative is a guy who is proposing a carbon-copy of Bush's economic agenda.

Sorry, you are right that the economy isn't where most would like it to be, but the other side is basically offering to take us back to 2008, 'the good old days'. No thanks. The other side is going to have to have something to offer, they have offered zilch other than "Obama sucks". That's not going to go far (just like it didn't for Kerry in 2004).
2012-07-06 12:48:18 PM
1 votes:
Republicans are upset that we are not following the Bush model for of lowering unemployment by letting 3,000 citizens get murdered in NYC by terrorists.
2012-07-06 12:41:48 PM
1 votes:

SacriliciousBeerSwiller: The argument that since the stimulus didn't have the best possible outcome, that we thus should return to digging our own graves with supply-side nonsense policies, is the epitome of wall-licking retarded.


I absolutely love hearing that from people, in all its forms of stupid.

"Well, we can't get rid of all pollution, so we should just deregulate everything."
"Somebody is going to abuse the unemployment insurance program no matter what we do, so let's get rid of it."
"Our public schools aren't perfect, so we should do away with them and move to a private voucher program."

And my personal favorites are when these people assume that everyone else is stupid enough to follow the same logic.

"Obama didn't get young people their unicorn and puppy, so they'll vote for Romney."
"Immigrants didn't get every last thing they could ever want from Obama, so they'll vote for more Republicans."
"Obama didn't fix every last bit of the mess created by his predecessor, so everyone will vote him out."
"He's not really a friend of the homosexual community, so the gays will vote for Romney."
2012-07-06 12:41:48 PM
1 votes:
I am outraged that President is unable to perform the duties delegated to the legislative branch.

STUPID LIBERAL CONSTITUTION!
2012-07-06 11:22:39 AM
1 votes:
I disagree with Obama's economic solutions for a variety of reasons. But I can't help but point out that if his economic team got the dark-blue line wrong, they could just as easily have gotten the light-blue line wrong. Yet it seems as if the politically expedient thing is to pretend the light-blue line was an objective Truth upon which every economist agreed, and it's the dark-blue line alone that was wrong.
2012-07-06 10:59:04 AM
1 votes:
I was thinking 15-20% and deflation without the stimulus. Of course, I probably underestimated the motivation that would have been provided to 30 million American workers feeding their families with bark scraped from trees. We aren't French, after all. Instead of rioting, we probably would have set to work and founded millions more of successful businesses, bringing a new dawn to America.
2012-07-06 10:33:43 AM
1 votes:
I wholeheartedly support Republicans taking up the banner of George W Bush's economic record.
 
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