Jobless rate rises to 9.2% (this is a recovery?) and Obama/GOP want to CUT SPENDING

[WI_DEM]

Americans are more concerned with jobs not cutting the deficit. Poll after poll has shown this. Yet what is Washington doing? trying to out do itself with spending cuts approaching $4 trillion and ignoring the unemployment rate which is rising and the sputtering economy which could go back into recession (if it hasn't already).

One this is clear in an economic downturn you don't cut spending. Herbert Hoover advocated that during the Great depression. It is counter productive.

If Obama wants to do something about the deficit he needs to do two things:

1) Put people back to work--stimulate the economy--the more people working the more people paying in taxes.

2) Let the Bush Tax Cuts end on their own. If they don't renew 'em (again) they will die naturally.

Bill Clinton was right in 1992 and Obama has disregarded this, 'it's the economy, stupid!'

[OHdem10]

1. This is no time for cuts unless you have joined the Ranks of

Herbert Hoover who through belt=tightening through
this country into the GREAT DEPRESSION>

How could they be so wrong??? We were supposed to
see improvements in Jobs this month??? Someone(s)_
are giving the President bad advice????? Is he
going ahead with cuts????

[AngryAmish]

5. Actually, under Hoover federal spending went up.

from wikipedia (I know, but this is true)

"To pay for these and other government programs and to make up for revenue lost due to the Depression, Hoover agreed to roll back previous tax cuts his Administration had effected on upper incomes. In one of the largest tax increases in American history, the Revenue Act of 1932 raised income tax on the highest incomes from 25% to 63%. The estate tax was doubled and corporate taxes were raised by almost 15%. Also, a "check tax" was included that placed a 2-cent tax (over 30 cents in today's dollars) on all bank checks. Economists William D. Lastrapes and George Selgin,<53> conclude that the check tax was "an important contributing factor to that period's severe monetary contraction." Hoover also encouraged Congress to investigate the New York Stock Exchange, and this pressure resulted in various reforms.


National debt expressed as a fraction of gross national product climbs from 20% to 40% under Hoover; levels off under FDR; soars during World War II. From Historical Statistics US (1976)
For this reason, years later libertarians argued that Hoover's economics were statist. Franklin D. Roosevelt blasted the Republican incumbent for spending and taxing too much, increasing national debt, raising tariffs and blocking trade, as well as placing millions on the dole of the government. Roosevelt attacked Hoover for "reckless and extravagant" spending, of thinking "that we ought to center control of everything in Washington as rapidly as possible."<54> Roosevelt's running mate, John Nance Garner, accused the Republican of "leading the country down the path of socialism".<55>
Ironically, these policies pale beside the more drastic steps taken under Franklin D. Roosevelt's administration later as part of the New Deal. Hoover's opponents charge that his policies came too little, and too late, and did not work. Even as he asked Congress for legislation, he reiterated his view that while people must not suffer from hunger and cold, caring for them must be primarily a local and voluntary responsibility.
Even so, New Dealer Rexford Tugwell<56> later remarked that although no one would say so at the time, "practically the whole New Deal was extrapolated from programs that Hoover started." <http://en.wikipedia.org/wiki/Herbert_Hoover#Great_Depression>

Like Hoover we do not know how to get out of this.

[WI_DEM]

2. If unemployment is approaching 10% in November, 2012 Obama better be lucky to have

a really lousy GOP nominee against him because that would be about all he would have going for him.

[Coyote_Bandit]

3. Motives

Money explains most of what we do. EIther we want or need more or we are fearful of losing what we have.

What can't be explained by money can be explained by sex.

And if money and sex don't expain the behavior then there is an irrational explanation (i.e., emotion, religion, sentiment, etc.).


This explains voting behavior. And it looks to me like Obama just might have a problem with that second term. In any event he will not be re-elected by the same majorities that took him into office.

Oh, well. What goes areound comes around. Even for Presidents.

[rusty fender]

4. Wow, how much has DU changed in about 6 months!

About 6 months ago I wrote, in response to a post, that the "H" stands for Hoover and my response got deleted.:wow:

[Powdered Toast Man]

7. Um... Hell Yes!

What the hell is going on around here? If I didn't know better I'd say this was a shell GOP website now.

[SolutionisSolidarity]

8. I didn't know the GOP is calling for more public spending to stimulate the economy

and to end the Bush tax cuts. I feel so silly now, I thought those were Democratic policies. No wonder Obama's presidency has been so frustrating to me!

[defendandprotect]

12. Well ... the dam certainly burst when the mask came off --

we may all eventually be deleted -- but I don't think anyone can hold back this flood!

Amazing too because DU members have contributed a lot of money to Dems/Obama --

[Mudoria]

6. The answer seems obvious to me

We need more tax cuts for the rich and corporations! Why that will spur economic growth beyond our wildest dreams!! And while we're at it lets cut benefits that help the middle and lower classes!!!

Really, I thought letting the Bush tax cut giveaway continue in December was supposed to be an economic boon, if so, where are the jobs? As Paul Krugman has said a few times, the problem isn't tax cuts or corporate profits but DEMAND. Other than the wealthy no one has the money to spend or if they do they're very prudent about spending.

Another point, we don't have a deficit problem, we have a JOBS problem. Solve that issue and the deficit looks a lot rosier.

[defendandprotect]

9. kr

[defendandprotect]

10. FED and Obama still refusing to attack with appropriate STIMULUS ... !!!

[defendandprotect]

11. Kick -- and would remind us all our unemployment is at minimum 15% and may be 21% or more ...

if we consider all of those not longer getting unemployment benefits --

and who are working part time -- and who have accepted jobs below their skills.

We are fooling only ourselves everytime we repeat the official number !!