PhoenixDark
Banned
It strikes me as a moot point considering a 1.8t stimulus bill was never going to get passed
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PoliGAF 2012 Community Thread
- Thread starter AlteredBeast
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empty vessel
Member
I'm not posting this because of its scandal value, more for the economic insights that Mitchell provides about the value of stimulus and deficit spending. That said, I don't think it's moot that the president be given accurate economic information by his advisers. It's a breach of a fiduciary duty. If I were president, I wouldn't want somebody as an adviser who was going to effectively make policy decisions on my behalf by omission.
(I'm also not in the camp that believes a much larger stimulus was politically impossible.)
Santorum is killing himself but Romney has a severe Midwest problem.
And for some strange reason the Midwest likes that batshit insane religiousness
Diablos said:
He would be better off picking Marco Rubio, who would help deliver some of the Hispanic vote
Though to see Romney overshadowed by Christie would be fun to watch, (sarcasm on) Romney would probably love nothing more to hear people talking about how Christie should have been running for the top job lol
Particle Physicist
between a quark and a baryon
I've never seen that before, I lost it when ODB started playing. :lol
This is awesome. The Biden bits are the best.
speculawyer
Member
I lost it when Biden was talking about a guy's dead mother . . . "God rest her soul . . . . . . . . . Oh, she's not dead? Well God bless her then."
Doc Holliday
SPOILER: Columbus finds America
Question for the pros...
Has austerity ever worked during a recession when deficits were involved? I keep hearing that massive cuts will boost confidence therefore the economy will boom. When has this happened before?
Early 80s maybe? But Reagan ran up the deficit so where does theory come from.
Has austerity ever worked during a recession when deficits were involved? I keep hearing that massive cuts will boost confidence therefore the economy will boom. When has this happened before?
Early 80s maybe? But Reagan ran up the deficit so where does theory come from.
This is pretty annoying. Democrats hated it when Rush and others tried to do that stupid shit in the Democratic primaries, and now they want to try it.
gutter_trash
Banned
I pray to God that the select Santorum in droves
cartoon_soldier
Member
I don't think there really is a good case of austerity working, however since it is built on the idea that economics is too complex to use the scientific method on to determine what may and may not work, it is exempt from any sort of examined criticism.
Yeah, we should all just stop that bullshit.
cartoon_soldier
Member
Well, it is hard to say it has NEVER worked. But when talking about recessions, you can have slip blips or you can have a really bad one like the one we are going through.
When Reagan took office unemployment was at 7.5%
He proceeded with a tax cut and budget cuts. That actually caused the recession to worsen with unemployment reaching 10.8% The peak GDP Decline was 2.7%, while in current recession it has been 5.1%.
The recovery out of that recession was lead with a 100 billion dollar tax increase on corporations coupled with deficit spending. The recovery from this recession is actually a good case study of why austerity doesn't work to overturn recession.
But conservatives (and the media and American people) have got this world view that Reagan never raised taxes and with one single swoop he cut personal income taxes to all time low and behold everything was good again.
Also, important to note, the Reagan recession was caused by government monetary policy. In fact, most US recessions have been caused due to the Fed's actions to control inflation. You can also say that external factors - Iranian Revolution of 1979 and Oil Embargo of 1973 contributed a big amount to this as it led to very high oil prices.
The latest recession was NOT caused by this policy. They were caused by market factors namely the subprime crisis.
Particle Physicist
between a quark and a baryon
I just kinda skimmed it, but is it really being pushed by democrats, or is this a preemptive excuse Romney's team is giving just in case he loses?
cartoon_soldier
Member
Just places like Dailykos, as far as I know. No official support or anything.
He (and the Democrat Congress) expanded government spending by 19 percent in his first two years.
But then ...
Doc Holliday
SPOILER: Columbus finds America
Thanks cartoon_soldier! You too Toxic..
elrechazado
Banned
By today's metric of what constitutes a budget cut for either democrats or republicans, it's very possible that that graph does in fact show "budget cuts" of that type...you know, the: "we're cutting military spending - rather than increase by 15% we'll be increasing by 10%"
He (and the Democrat Congress) expanded government spending by 19 percent in his first two years.
But then ...
cartoon_soldier
Member
He (and the Democrat Congress) expanded government spending by 19 percent in his first two years.
But then ...
He initially went with a tax cut and budget cuts. His 1981 budget had cuts in non-defense spending and tax cuts. The budget cuts were scheduled to go into effect 1982. After unemployment reached 10.8% he went to tax increase on corporations combined with additional spending.
http://bancroft.berkeley.edu/ROHO/projects/debt/1981reconciliationact.html
The recession was caused by government monetary policy, namely as I said in my post the Fed actions to control inflation. That was the ORIGINAL cause of the recession not market factors. There is a difference between the causes for a recession (which begin before Reagan took office) and it worsening.
PhoenixDark
Banned
I just realized the entire week was spent talking about contraception again, with little to no debate over Obama's corporate tax plan. Didn't come up at the debate, I didn't hear Santorum or Romney talking about it, etc
A recession can't be 'worsened' by one budget. A series of budgets over consecutive years can have a dramatic effect, but this 'X happened in January because Y happened in November" is far too simplistic to assign to something as complex as the American economy.
cartoon_soldier
Member
Of course not, but just as the recession can be improved by government actions so can it be worsened.
He was just soooo close to getting that pander right, then crashed and burned at the end. Pretty much just like a Nascar race, actually.
AlteredBeast
Fork 'em, Sparky!
Classic McGruber.
Black Republican
Member
Some new PPP stats on MI :
http://www.publicpolicypolling.com/main/2012/02/romney-takes-small-michigan-lead.html
http://www.publicpolicypolling.com/main/2012/02/romney-takes-small-michigan-lead.html
Looks like Santorum is too nutty even for TPers and Evangelicals.
cartoon_soldier
Member
The Not-Romney self destruction tour continues.
Romney just can't help sounding insanely rich and out of touch with the middle class, because he really is insanely rich and out of touch with the middle class.
Kinda like that time he made the bad joke about how he knows what it's like to be unemployed because he's currently unemployed.
Byakuya769
Member
Ahahaha, this guy is so tone deaf.
I maintain that without the fat buckets of cash raining on the state, he still wouldn't win. Romney is a bubble boy.
Predictable result of the one-two punch of Romney SuperPAC money and Santorum withering away under any scrutiny as voters actually familiarize themselves with Santorum's... Santorumness.
I seriously wonder if the CU ruling fallout is producing a measurable amount of the ongoing recovery.
Al-ibn Kermit
Junior Member
Quoting this for another page.
Captain Tuttle
Member
Christ. What is it about the Republican candidates and their inability to keep their mouths shut?
RustyNails
Member
derp
RustyNails
Member
AlteredBeast
Fork 'em, Sparky!
Interesting that the union voters are now actually supporting him at a much higher rate than Santorum or Gingrich.
Not quite thread-worthy, but interesting.
Ouch..
Probably just the not-(as)crazy factor, and not due to any of Mitt's merits.
Not quite thread-worthy, but interesting. Illustrates how fast and brutal technological shifts can be.
Holy hell, that's brutal.
Black Republican
Member
Last PPP poll on AZ
It's always been the economy. Santorum going full retard on social issues doomed him. The guy is a completely one dimensional candidate.
PhoenixDark
Banned
Romney will win both states. I wonder how that will impact some of the Super Tuesday states generally thought to lean to Santorum (or Gingrich). Do republicans decide to fall in line now?
Invisible_Insane
Member
It seems like Republicans are falling into line with Romney after he dumps a ton of money in their states, so I suppose it will depend on how much money he spends ahead of "super" Tuesday.
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