Obama says worst of recession is over

[Captain Oates 911]

like you guys I am getting 0.2% in the bank in the US

I get 3.99% from the bank of england on 12 months fixed due November and 1.5% on instant access.

They reckon that 0.2% is actually one of the highest real interest rates for decades.

I buy motorbikes/boats/cars etc and they have to be 5 to 10% off what they were a couple of years since - which means 0% is equivalent to 10 % real !

and it's tax free !

However, it's temporary if the dollar falls - or it would be if I kept my loot in USD

I moved to Washington State (no income tax) so at the mo this is working for me.

Shares are still poor but the companies are doing well and staching cash and the share prices will have to reflect that eventually

The companies will do well but the guy at the bottom of the pile will pay

Especially if he lives in a high State Income Tax place

[Mr. Big Dog 10,747]

See the difference? I know you can't answer now because 'Countdown with Keith Olbermann' starts at 8pm.....

Well, your graph is off, my friend. The 2009 budget - and hence the 2009 deficit - doesn't belong to Obama. Do read up from time to time on the budget outlook that CBO provided prior to Obama even having been elected. FY2009 was projected to have a $ 1.2 trillion deficit - and that was based on assumptions more rosy than what reality presented - i.e. a deeper than projected recession, higher than projected unemployment.

But yeah, I'm sure Glenn made it all plausible to you on his blackboard.

[I AM NOT THAT GUY 5,715]

Well, your graph is off, my friend. The 2009 budget - and hence the 2009 deficit - doesn't belong to Obama. Do read up from time to time on the budget outlook that CBO provided prior to Obama even having been elected. FY2009 was projected to have a $ 1.2 trillion deficit - and that was based on assumptions more rosy than what reality presented - i.e. a deeper than projected recession, higher than projected unemployment.

But yeah, I'm sure Glenn made it all plausible to you on his blackboard.

Presidents don't pass budgets, Democratic Congresses do.

[Mr. Big Dog 10,747]

Presidents don't pass budgets, Democratic Congresses do.

So, the deficits are then not owned by the President? Someone better tell Obama that he's not accountable for the deficits. Oh, and Republican Congresses do not pass budgets? How is government funding done when the GOP controls Congress?

[luckytxn 2,264]

On top of being a total moron, Obama the Socialist is being proven a clueless one then.

[I AM NOT THAT GUY 5,715]

So, the deficits are then not owned by the President? Someone better tell Obama that he's not accountable for the deficits. Oh, and Republican Congresses do not pass budgets? How is government funding done when the GOP controls Congress?

The President proposes, and Congress disposes.

If Congress doesn't appropriate the funds, the President can't spent it. Congress seems to generally spend more than the President asks for. Generally, but not always, as Clinton found out his first time dealing with a Republican Congress. But, of course, they became seduced after just a single term, so in the end they were disappointing as well. The so called Bush Deficits, as Mitch Daniels, a former OMB Director, noted last Sunday, resulted in large part from Congress spending much more than what Daniels proposed those first few years when he was in charge of the President's budget proposals.

[Captain Oates 911]

On top of being a total moron, Obama the Socialist is being proven a clueless one then.

Tony Blair was leader of the Socialist party

he was applauded like a film star in the US

He as a white Socialist though

Socialism did a lot for me and my family in England - and it was repaid 20 times over

Not many countries go from Socialism to something else for long. Once you have had Medicare and Social Security and shared sewers and roads, it's hard to go back to that labourer's shack in the fields where you do stoop labour until you die at 55

Socialism is the norm in most developed countries - perhaps I should say all.

[웃 910]

I LOVE DEMOCRATS, ESPECIALLY HARRY REID

http://answers.yahoo.com/question/index;_ylt=Akhq4exNmdIrK3LlUi0FbzLj1KIX;_ylv=3?qid=20100813130723AAz09Qv

[Mr. Big Dog 10,747]

Yup.