Barrack and our economy

He is really very funny.


Change. Change you can believe in.

Change. Change we can believe in.




Tax the rich. Help the poor.
ALL troops out of Iraq.

Those were / are two of his main / most significant planks in his whatever platform.

Except we now know that he won't can't can't remove ALL troops.

And now for the wealthy and tax cuts:

WASHINGTON (AP) - Democrat Barack Obama says he would delay rescinding President Bush's tax cuts on wealthy Americans if he becomes the next president and the economy is in a recession, suggesting such an increase would further hurt the economy.

...

What about increasing taxes on the wealthy?

"I think we've got to take a look and see where the economy is. I mean, the economy is weak right now," Obama said on "This Week" on ABC. "The news with Freddie Mac and Fannie Mae, I think, along with the unemployment numbers, indicates that we're fragile."



By the way Barrack - we are not in a RECESSION even if you enjoy using that word.

Just so you are aware, and I understand I am not an economist, but apparently you are even less qualified on that front:

All of the following must slow down:
People buying less stuff
Decrease in factory production
Growing unemployment
Slump in personal income
An unhealthy stock market

And the slow-down has to continue for at least six months to be considered a recession.

AND this must include two consecutive quarters of decline in real GDP.

Surprise - our GDP is rising, by small amounts, but it is rising.
Personal income has stayed the same or gone up slightly.
We are buying less, but overall, it remains about even.
The stock market is one measure, but if we remove the issue of unemployment and oil prices, the market will be fine - and within 3-4 months, it will be back up several thousand points.

So ... where is this recession you are referring to Barrack?

It does not exist by conventional measure. It is only in your mind, and used as a tool to create fear and doubt - which contribute to a slowdown in buying. You are responsible for contributing to the decline in buying and the psychological aspect of feeling like we are in a recession.

Grow up.

The above is basic and elementary. I would not go around using words that have meaning unless I understood what i was saying - AND I BELIEVE YOU UNDERSTAND. You are not stupid.




Ignorance



foolishness