7.5% unemployment is the new normal?

[airdvr 197]

kelpdiver

***
Now that we have established that you are hopelessly out of touch with reality answer me this; if you only need 51 votes why can't the democrats get anything passed? How can the republicans be blocking?

talk about hopelessly out of touch! You need more than 51 votes, considerably more. This situation has been in play for at least 2 decades now. Where the fuck have you been?

I'm not the one making that stupid claim.

Please don't dent the planet.

Destinations by Roxanne

[kelpdiver 2]

airdvr

I'm not the one making that stupid claim.

fair enough, I see now. (funjumper's rants go on too long, I usually tune out by the third paragraph). Sorry about that.

funjumper - where the fuck have you been for the past 2 centuries? The fillibuster has always been out there. The (bad) development now is that you only have to declare an intent to fillibuster, rather than actually having to work at it (and stop all other progress). It's become too easy, and the GOP was never reluctant to use it in the first place.

[billvon 2,400]

Sorry GOP, hate to ruin your Wednesday.

================
U.S. economy pulls through federal budget cuts
By Annalyn Kurtz
CNNMoney J
July 31, 2013


NEW YORK (CNNMoney)
The U.S. economy weathered the federal budget cuts, and accelerated slightly in the second quarter.

Gross domestic product -- the broadest measure of economic activity -- rose at a 1.7% annual rate in April through June, slightly faster than the 1.1% rate in the first quarter, the Bureau of Economic Analysis reported Wednesday.

Federal budget cuts continued to drag on the economy, but the impact was not quite as severe as in prior months. . . .

"In general, the drag from fiscal policy is likely to fade over the next few quarters," said Jim O'Sullivan, chief U.S. economist for High Frequency Economics. He predicts GDP will grow at a 3% annual rate in the second half of the year.

Consumer spending continued to rise in the second quarter . . .

Meanwhile, business investment and the housing recovery also boosted growth.

Economists surveyed by CNNMoney had predicted GDP would grow at a 1.2% annual pace, so the report was better than expected and seen as an encouraging sign for the recovery.
===================

[airdvr 197]

That tired tactic is getting lame. We aren't delirious when things go badly and we aren't disappointed when things go right. We live and work in the same economy you do.

Isn't it funny how the recovery 'pulled through' the budget cuts. Maybe the recovery was because of the cuts, not in spite of them. Perhaps business owners saw some fiscal prudence from DC and decided maybe it was time to start growing again. I don't know why. I guess we'll see if it continues.

Please don't dent the planet.

Destinations by Roxanne

[ShcShc11 0]

airdvr

It's your contention that the 700+ billion dollars that porkulus pumped into the economy wasn't enough?

Inter-State transfers. If a State is losing money because of the 2007 housing bubble crisis and the Federal transfers money to PARTIALLY recover, then you have probably 200-300B at best to cover a 2.5 trillion $ gap. Good job.


Eitherway, this isin`t an opinion.
http://online.wsj.com/article/SB10001424127887324144304578624033540135700.html

Even the WSJ NEWS (who are heavily right-slanted) has admitted that Fed/Gov aren't doing enough.

It is time we start being accountable for the austerity mistakes we have done in the past rather than letting excuses bail us out of our responsibilities.


Cheers! Shc

[lawrocket 3]

Quote

Economists surveyed by CNNMoney had predicted GDP would grow at a 1.2% annual pace, so the report was better than expected and seen as an encouraging sign for the recovery.

I thought Sequester destroyed all that.

My wife is hotter than your wife.