Progressives: Please Explain How the Economy Fully Recovers by 11/6/12 (speech, compare, governor)
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Balancing the budget and reforming our out of control entitlements might be a start, hey? Paul Ryan has a proposal, does he not?
And what exactly about the economy says differently? The plummeting unemployment rates and rising home values? Oh, wait......
Quote:
From Josh Levin:
Contrary to the headlines, more timely data indicates that home prices are actually going up on a m/m basis and have been doing so since February. Such home price data comes from less well-known data sources such as Radar Logic and Altos. To be sure, such price improvements are largely if not exclusively due to seasonal factors and will likely fade in the fall. However, we think this recent price strength has both near-term and long-term positive implications for home prices and stocks which are sensitive to home prices.
Continuing...
Even if the seasonal price strength fades in the autumn, we believe it nonetheless suggests that home prices are likely to soften modestly from here and not fall another 10% to 20% as some bears are predicting...The fact that home prices are increasing and not decreasing in the first spring selling season in three years not to be aided by a homebuyer tax credit, and that distress sales as a percentage of total sales are close to an all-time high, suggests to us that home prices will not drop precipitously. Our best guess is a decline of ~5% or less.
Subtract distressed sales and many areas are seeing improvement...the market is now dynamic and will probably be volatile (as some believe it should be) for some time to come...
Enrollment in the Loony Tunes is as simple as finding your local Republican Party office. They should be listed in the Phone book or by searching the internet. Just being lots and lots of money because they do not listen to anyone not already wealhty. They will always take your dues however.
I agree. Anyone with an ounce of common sense can see that this administration is failing badly. There is no turning around now and I think we are going over the waterfall in a teacup. The only answer to a successful recovery, a real recovery, is to remove Obama in 2012 and replace him with someone who understands the economy.
For comparison: Ronald Reagan took office Jan 1981. There was an economic recession beginning in July 1981, plus the Savings & Loan crisis. Unemployment rose to 10.8% in December 1982.
By the 1982 midterms, Reagan's popularity was dipping and the elections were seen as a referendum on the economy. The Democrats gained 26 seats in the House, a record since the Watergate years. The Senate remained largely unchanged.
By 1983 Reagan's popularity was at 35%. By election day in 1984, unemployment had dropped, but to 7.2%, not the 5% that OP asks for. Inflation rose during Reagan's first term and was around 4%, up to 4.8%, during 1984, and rates during his first term were higher than today's. Corporate earnings went up - like present day. Economic growth for the last 3 months of 1984 was around 4.9%, but lower during the presidential campaign. Much of the recovery was obtained through deficit spending, although the re-election campaign downplayed the deficit numbers. The national debt under Reagan went from $997 billion to $2.85 trillion.
Reagan went on to be re-elected in a landslide victory, despite the fact that the economy wasn't "fully recovered" from the '81 recession to the standards OP insists upon.
It does not have to be fully recovered, MOST Ameicans know the mess cannot be cleaned up ovenight.
Casper
Most Americans are really short term oriented, aren't as intelligent as those on this board, don't understand the damage that Keyensianism has caused, and don't realize that THIS TIME, this recession is NOT a mess that can just be "cleaned up."
An unregulated free market will right itself as long as we have low taxes.
Seriously, I don't know why people point to failures in the free market. This recession was caused by the free markets succeeding and exposing subprime lending as the farse that it was and uncompetitive firms like GM, Ford, etc.
As long as this blockhead is in the White House, Perry Como summed it up in a 1970 single----It's Impossible!!!!!
With no plan of their own to compare to Paul Ryan's, with no desire to cut taxes and regulations which would energize the economy sensationally, and with no knowledge of the correlation between tax increases and tax revenue increases (raise the former and the latter sinks like the proverbial rock---check Illinois's worst-in-the-nation balance sheet for the irrefutable proof), and with no chance of getting the independent vote back (they bailed en masse last November, and are gone for good), they won't have a chance in 17 months unless the GOP blows their nomination choice.
Obama's gotta run on his record, just like Hapless Herbert and Jimmy The Peanut Farmer had to do, and we all know how those races turned out.
Obama's gotta run on his record, just like Hapless Herbert and Jimmy The Peanut Farmer had to do, and we all know how those races turned out.
...with a Reagan win?
lol.
We should cut taxes. Oh wait, taxes are where they were.
Didn't Reagan raise taxes?
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