Obamaconomy!!!

BigRob said:
I agree with you.. My point is just that if we are actually recovering (as many claim) why do we continue to need all this government stimulus. Additionally, if we are not recovering, why then would we continue the failed policies that have not generated a recovery? (ie government stimulus)
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Because stimulus was never the goal of that legislation and there are many more votes to buy.
 
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"Wall Street firms aren't the only banks that had a banner year. The Federal Reserve made record profits in 2009, as its unconventional efforts to prop up the economy created a windfall for the government.

The Fed will return about $45 billion to the U.S. Treasury for 2009http://www.msnbc.msn.com/id/34816272/ns/business-washington_post/, according to calculations by The Washington Post based on public documents. That reflects the highest earnings in the 96-year history of the central bank. The Fed, unlike most government agencies, funds itself from its own operations and returns its profits to the Treasury."
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I suppose it could have been worse....

U.S. taxpayer profits from bank bailout investments are being offset by estimated losses from American International Group and automakers and mortgage payment cuts for struggling homeowners, a U.S. Treasury report showed on Monday.

The Treasury estimated net losses on its $700 billion bailout program at $68.5 billion for the fiscal year ended September 30, 2009.
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Jobs are disappearing under Obama Policies and even harder to find:

http://finance.yahoo.com/news/Job-o...1.html?x=0&sec=topStories&pos=8&asset=&ccode=

There were 6.4 unemployed workers, on average, for each available job at the end of November. That's up from 6.1 in October and a record high.

There were 1.7 jobless people for each opening in December 2007, when the recession began.

It's called CHANGE and it's hard on blacks, whites, transgendered, disabled and
teens. The worse is yet to come!
 
asur said:
Jobs are disappearing under Obama Policies and even harder to find:

http://finance.yahoo.com/news/Job-o...1.html?x=0&sec=topStories&pos=8&asset=&ccode=

There were 6.4 unemployed workers, on average, for each available job at the end of November. That's up from 6.1 in October and a record high.

There were 1.7 jobless people for each opening in December 2007, when the recession began.

It's called CHANGE and it's hard on blacks, whites, transgendered, disabled and
teens. The worse is yet to come!
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Yeh... that's the ticket.:D Like this pic of Bush on his way out of town.



 
Man is BO screwing the middle class. Could that be the plan? If he makes the middle class as dependent on the state as the poor, Dems will have their dictatorship.



Record year for foreclosures as unemployment rises
MIAMI (AP) - A record 2.8 million households were threatened with foreclosure last year, and that number is expected to rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages.

The number of households that received a foreclosure-related notice rose 21 percent from 2008, RealtyTrac Inc. reported Thursday. One in 45 homes were sent a filing, which includes default notices, scheduled foreclosure auctions and bank repossessions.

In December, more than 349,000 households, or one in 366 homes, were hit with a foreclosure-related notice. That represents a 14 percent spike from November and a 15 percent jump from December 2008.
http://apnews.myway.com/article/20100114/D9D7AN7O0.html
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Karl Marx is smiling....

AP source: Obama seeking tax on biggest banks

By JIM KUHNHENN
WASHINGTON (AP) - Mindful of soaring deficits and an anti-Wall Street mood, President Barack Obama wants a new 10-year tax on the country's largest banks to cover a projected $117 billion shortfall in the government's financial crisis bailout fund.

The president planned to propose Thursday a levy of 15 basis points, or 0.15 percent, on the liabilities of large financial institutions to make sure every dollar spent from the $700 billion Troubled Asset Relief Program to rescue Wall Street firms, auto companies and mortgage holders is either repaid or paid for. Congress would have to approve the tax.

A senior administration official said the tax, which officials are calling a "financial crisis responsibility fee," would apply only to financial companies with assets of more than $50 billion. Those firms - estimated to amount to about 50 institutions - would have to pay the fee even though many did not accept any taxpayer assistance and most others already paid back their government infusions.
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Thursday January 14, 2010, 3:50 pm EST

WASHINGTON (AP) -- Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.

In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce.

It's getting worse just as we predicted.

Asur Accuracy Rating = 101%
 
asur said:
Thursday January 14, 2010, 3:50 pm EST

WASHINGTON (AP) -- Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.

In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce.

It's getting worse just as we predicted.

Asur Accuracy Rating = 101%
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Didnt someone post a thread that december was better than expected?

What changed from then to now for the numbers to change so much?
 
YOY, gasoline and food price increases dominate the "growth". The stuff that you'd like to see rising to indicate true economic growth... not so much.
 
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