Obama: 'Shovel-Ready Was Not as Shovel-Ready as We Expected'

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John_Browning
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13 Jun 2011, 4:55 pm

Forget the news source because Obama's on video!

http://video.foxnews.com/v/991352947001/obama-laughing-off-dismal-economy

"The Obama administration promised the Recovery Act ("the stimulus") would prevent the jobless rate from going over 8%. It now stands at 9.1%"


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AardvarkGoodSwimmer
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13 Jun 2011, 5:12 pm

And I think economist Paul Krugman was saying largely the same thing back in 2008 and '09 when the recession first started: That you can't do enough infrastructure projects quickly enough to really make that much of a macroeconomic difference.

(The right infrastructure projects valuable as setting the stage for future growth. Plus, giving people confidence that at least we're doing something in a positive direction.)



androbot2084
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13 Jun 2011, 7:39 pm

we need dmajor infrustructure projects like more nuclear power plants not just a few highway improvements.



John_Browning
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13 Jun 2011, 8:42 pm

androbot2084 wrote:
we need dmajor infrustructure projects like more nuclear power plants not just a few highway improvements.

Right now we can't do any of that without eventually defaulting on our national debt.


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androbot2084
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13 Jun 2011, 9:05 pm

We can default on all of the debt we owe China and that will free up trillions of dollars and give the United States a fresh start. Ten years from now once the nuclear power plants are built we can ship free electrictiy to China to help them out.



jojobean
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13 Jun 2011, 10:33 pm

androbot2084 wrote:
We can default on all of the debt we owe China and that will free up trillions of dollars and give the United States a fresh start. Ten years from now once the nuclear power plants are built we can ship free electrictiy to China to help them out.


that would be great accept China would not renew our bonds...then we are SOL

becides the jobless rate is higher than they say it is cause they are only counting those who are currently drawing unemployment benefits, not those who have phased out of unemployment but still have not found a job and not those who are not elible for unemployment.
I read that the actual figure is around 22 percent who are unemployed...which has not really changed much since 2009.


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androbot2084
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13 Jun 2011, 10:54 pm

The reason why the credit of the United States is so bad is because we are so over extended . With the debt with China wiped out the US credit score will actually improve. China will lend us more money simply because we have a greater ability to pay them back. Of course the United States will have to be very faithfull in paying its new credit obligations but that will be much easier with a fresh start.



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14 Jun 2011, 2:01 am

The debt ceiling will be raised, we will pay, taxes will be raised, but first the clown congress will act out why no other path will work.

As for lobbists the AARP swings 50,000,000 votes, Social Security and Medicare will be preservred.

What it comes down to is pay as you go. Currently the Fed prints money to buy bonds, to keep it running, because no one else wants them. Not at that interest rate. China holds two trillion. 1% more interest is a lot of money. As the dollar is down 17%, and falling, and the bonds pay 3%, fixed, we are reducing our debt.

We pay the 3%, and the dollar drops more than that. Owning our bonds is still better than holding our dollars. China imports food and oil, both paid in dollars.

The good part is we are producing the dollars to fund major world development, just as we produced the dollars to fund the housing bubble. All bubbles burst, China got the good $5 a day jobs, has a very thin profit margine, and can never stop.

On the domestic front the dozer ready jobs are lining up. The Mayor of New Orleans wants to remove 10,000 blighted homes, and the same is happening in Detroit. No one has any idea how to pay for it. Both have laid off 30% of public employees. More is coming because half the people with children left. We have surplus schools and teachers.

I live in the best suburb, last year 8% of the people left, and housing declined 8%, this year looks the same. Job creation is up, %0.02.

During the Great Depression housing fell 31%, we passed 33% and compared to the crash of 29, we are up to 1931. I think the banks closed in 33. Unemployment hit 25%, we are close.

No one knew what to do then, we are the same now. We will pay the $14 trillion, with the printing press, and we will pay Social Security, food stamps, and we will all have lots of dollars. We can burn them to cook and stay warm.

Not much point in running high speed rail to Miami, or New York to LA. We could not afford it, and no one needs it. The record baby bust will further reduce the need for schools.

Our rail and electric is investor owned, so no new tracks, or smart grid.

Trucking is so reduced that the Interstates will last a long time, and the roads and bridges that need work, are State owned.

It is just numbers, the country is still here, we can pay off our debt, and compared to my younger years when we used silver for money, a gallon of gas now costs $0.08.

Going bankrupt as a nation may sound bad, but it is the only way to clear our debt, and start over. We are in for $43,000 each, $130,000 per household. Most pay no taxes.

The more you have the more you lose. The rich are suffering the most. Everyone I know in business says they are losing money. They laid off the workers, are there themselves, selling off the stock. Long term lease, debts to suppliers, sales down by half and more. They are treading water.

Trust Fund Babies struggle with declining quarterly checks. A million dollars in Bonds yields $30,000, and that is taxed. Those in stocks fared much worse.

The big banks hold several million foreclosed properties.

We will have an orderly liquidation, and then equality, we will all be broke.



Nil_Nil
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21 Jun 2011, 1:30 am

Don't know, the Dems and their supporters used a lot of shovels in selling this crap. :lol: And, the number of "green" jobs has increased...well mostly cuz there's a whole lot of people that are
green" with envy over those that actually have a job. Win/Win. Just semantics. :lol:



ruveyn
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21 Jun 2011, 8:29 am

What Obama dishes out is always shovel ready.

ruveyn



John_Browning
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21 Jun 2011, 2:15 pm

ruveyn wrote:
What Obama dishes out is always shovel ready.

ruveyn
:lol:


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"A fear of weapons is a sign of retarded sexual and emotional maturity."
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