You know, it's one thing for Board members to type out comments regarding a fictional Godfather. It's another for them to do so about things they know little or nothing about like economics and econometrics.
I know, but we like having you around so don't be too hard on yourself, huh? ;))
FN, make up your mind. Is it the President at the heart of the Nation's economic woes as you express it, or is it "the government"? If it's the President, how is it so? If it's the government, not only how, but which level: federal, state, or local, or a combination thereof?
Each step this PRESIDENT takes strengthens the role of GOVERNMENT in people's lives. As I said earlier this president is going to take everything away from those who've shed blood sweat and tears and give to those who've done nothing. But then I suspect you already know that.
US GDP grew at an annualized rate on 2.4% in the 2nd quarter. Gross Domestic Purchases grew at 5.1% in the same quarter compared with just 3.9% in the first quarter. Both personal income and disposable personal income increased over 4% in the second quarter. Savings grew at an annualized rate of over 6% as did debt reduction. The M2 money supply continues to increase and is decidely larger than it was than just a few years ago.
Yes, because a free market will eventually correct itself in spite of this president enacting every left-wing measure possilbe, expecting that when the economy eventually recovers he can take credit for it, even though his policies, if anything, retarded and weakened the recovery.
The current federal income tax structure has been inplace since 2003.
As I alluded to above this president has raised taxes on small businesses, the engines of entrepreneurship and job growth; and he's raised the capital gains tax. True tax cuts would grow the economy and Obama shuns them. The last major recession was Jimmy Carter's malaise which consisted of double-digit inflation and unemployment. It was finally mitigated by across-the-board tax cuts for everyone (even the despised rich), which touched off a twenty-plus year run of prosperity.
(He also lied about "tax cuts for 95% of Americans", offering instead $13 a week, achieved not through tax cuts, but by changing the federal withholding tables.)
