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Originally Posted by Danzig
that's the problem, conciliation hasn't gotten us anywhere...
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Well, both sides have to give a little. There were several deals in the works, including the $4 billion in cuts with increased taxes (through loophole closures) that Obama and Boehner agreed to, but the Tea Party Republicans nixed that. (Hey! Thanks for the S&P downgrade!)
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one way he tried to make everyone happy was by agreeing to extend the bush tax cuts-a huge mistake.
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The economy was still tenuous then, so I don't know that it was a "huge" mistake. But we got billions more in stimulus for that, which was a very good deal. The GOP walked out of there, then realized they'd been had (regarding more stimulus).
But I agree I would have liked to have seen the Bush tax cuts for just the wealthy expire back then.
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the problem i see with obamacare is that it still has too many questions-especially for potential employers. they are hesitant to hire, as they aren't quite sure what the cost of employing people will be here in the next couple years. if that is a hiring inhibitor, it needs to go
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I think that's truly nonsense. There is
only one reason for people to hire more employees- they have too much business demand to service with the number of employees they have now.
There is no "fear of the future" or "uncertainty" Nobody is "not hiring due to fear of Obamacare". That's just an excuse for trying to get more regulation removed. Capital gains and business profit have never been larger - they are hoarding 1.2 trillion and keeping it out of the economy.
But it's not because they are "worried" - they don't have any customers. Believe me, if that were true, if the demand was there, they'd be hiring to serve it, not worried about nonsensical excuses like "obamacare". They have destroyed the middle class. Wages over the past 40 years haven't risen. So the middle class sent the spouse to work, then borrowed on credit cards, then borrowed against the house, and now they have nothing.
Sorry, business world - nobody has any money to buy anything you have.
The problem is that there are no people with extra money to spend. Period. Business is slow. There is no demand. Nobody needs more employees now (and those few that do, are hiring).
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anything that will grow jobs needs to be the #1 priority, as it supposedly was a couple years ago.
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Right now all remains of the stimulus are ending, and QE2 is ending. Both at once.
We need a massive stimulus. We need to extend unemployment. We need to get quick turnover cash money into the economy. Money has never been cheaper - we can borrow money for 2 years at literally 1/2 of a percent. Our infrastructure is rated "C to D" - it's literally about to fall down (remember the MN bridge that collapsed? There's plenty more)
You can see what "cutting spending" just got us, a downgrade, and a sell off of stocks to get their cash into our (safe) Treasuries. Reaganomics and trickle down does not work. Period.
The question will be if the Fed allows inflation to rise a bit, or not. It's about all we have left, if the Repubs are going to continue block all stimulus and jobs programs, the only thing left is to allow inflation.