Obama in 2009: If the Economy isn't Fixed in 3 Years There Will be a 1 Term Proposition

[Penny Lane 8,159]

** Not saying Romney govt would be any better..... but for me Obama administration's 4 years have been the worst Years for US.

You have a short memory.

[JohnR! 5,495]

but for me Obama administration's 4 years have been the worst Years for US.

I think the last four years have been the worst for the entire country in a long time but I am afraid we will still feel the effects of the last administration for much longer. The clean up will take years.

[X Factor 1,112]

I think the last four years have been the worst for the entire country in a long time but I am afraid we will still feel the effects of the last administration for much longer. The clean up will take years.

Like the clean up from the Gulf coast oil spill

[JohnR! 5,495]

Like the clean up from the Gulf coast oil spill

More like Exxon Valdez....

[X Factor 1,112]

The biggest single knob that a president can turn to effect the economy is war. All the others are pretty small in comparison, but this one can really have a major impact.

[JohnSmith2007 353]

The job market and economy has recovered DRASTICALLY. There is stability in the economy. Companies are hiring.

We've had 28 straight months of private sector positive job growth. With over 4.4 million jobs created since Feb 2010!!! Over the same period government has shrank by over 500,000 jobs! You have to suffer from UDI syndrome (Uninformed Delusional Imbecile) to not be able to see that the economy has turned around.

Someone has Obama Fantasy Syndrome I believe. Only a fool, a blind partisan hack or an outright lier would call this economy DRASTICALLY recovered. Pointing out that we are no longer bleeding jobs at the same rate and calling it an improvement is like cutting someones jugular and claiming he is better when he runs out of blood. The fact remains that if the labor participation rate were the same as when Obama took office our unemployment rate would be in the double digits. Just because people get discouraged and stopped looking, giving us an artificially low unemployment rate, isn't an improvement.

Bernanke gloomy on economic outlook

By Robin Harding in Washington

Ben Bernanke offered a gloomy outlook for the US economy but the Federal Reserve chairman offered no hint of further monetary easing in testimony to Congress.

“We are looking very carefully at the economy, trying to judge whether or not the loss of momentum we’ve seen recently is enduring, and whether or not the economy is likely to continue to make progress,” he said, warning that progress in reducing a 8.2 per cent unemployment rate “seems likely to be frustratingly slow”.

The testimony disappointed markets – which are on tenterhooks for a signal of further monetary easing from the Fed – with stocks falling and the dollar rising before turning around by midday in New York.

A run of weak reports on the economy, with net job creation falling to 80,000 in June, has led to speculation that the Fed could ease policy further as soon as its August meeting.

Mr Bernanke said that recent data points to annualised growth of less than 2 per cent in the second quarter of 2012. “Households remain concerned about their employment and income prospects and their overall level of confidence remains relatively low,” he said.

The Fed chairman set out a list of options for further easing but refused to say which he might prefer. “The logical range includes different types of purchase programs. That could include Treasuries or include Treasuries and mortgage-backed securities. Those are the two things we’re allowed to buy,” he said.

Asset purchases – also known as quantitative easing – are a way of driving down long-term interest rates to boost the economy when short-term rates are already at zero.

The Fed’s other options include lending via the Fed’s discount window, communications about future policy, or cutting the interest that the Fed pays banks on excess reserves, Mr Bernanke said. “We haven’t really come to a specific choice at this point, but we are looking for ways to address the weakness in the economy should more action be needed to promote a sustained recovery in the labour market.”

New data on Tuesday showed little sign of inflationary pressure – the overall consumer price index was up by 1.7 per cent on a year ago – and a rebound in industrial production, which was up 0.4 per cent in June after falling in May.

Mr Bernanke chided Congress for its failure to act on fiscal policy, citing it as one of two main risks to the economy alongside the eurozone crisis, and warning against a repeat of the market volatility and loss of economic confidence caused by last summer’s debacle over raising the debt ceiling.

The Fed chairman has ramped up his rhetoric on fiscal policy with each successive visit to Capitol Hill, but there is little sign that Congress is willing to compromise before the November election, even in order to boost growth.

“The most effective way that the Congress could help to support the economy right now would be to work to address the nation’s fiscal challenges in a way that takes into account both the need for long-run sustainability and the fragility of the recovery,” said Mr Bernanke. “Doing so earlier rather than later would help to reduce uncertainty and boost household and business confidence.”

http://www.ft.com/intl/cms/s/0/704622f8-d016-11e1-a3d2-00144feabdc0.html#axzz20uI3WHWG

[Harsh_77 718]

You have a short memory.

If u referering to me as Republican than I m neither Republican nor Democrate, both parties have its good and bad.

Infact I had really high hopes from Obama admin, thought they would do something good the change that was promised.

More of his policies did not revive the economy or industry, his policies are also going to kill the middle class.

His admin has created the biggest rift in country, has divided more and more people on issues leading to more and more unsatisfied people.

[Penny Lane 8,159]

If u referering to me as Republican than I m neither Republican nor Democrate, both parties have its good and bad.

Infact I had really high hopes from Obama admin, thought they would do something good the change that was promised.

More of his policies did not revive the economy or industry, his policies are also going to kill the middle class.

His admin has created the biggest rift in country, has divided more and more people on issues leading to more and more unsatisfied people.

Oh my god. Are you SERIOUS? I'm done even attempting to discuss anything with you.

I say you have a short memory and then you assume I'm referring to you as a Republican.

I can't keep up. Every comment I make, you reply responding to something I didn't say.

[PMartin37 161]

Oh my god. Are you SERIOUS? I'm done even attempting to discuss anything with you.

I say you have a short memory and then you assume I'm referring to you as a Republican.

I can't keep up. Every comment I make, you reply responding to something I didn't say.

Save yourself!

Edited July 18, 2012 by PMartin37

[Penny Lane 8,159]

Save yourself!

You'd think I'd learn, right? He gave me a headache.