A new report by the Progressive Policy Institute—run by Democrats—finds that if business investment had tracked the normal trend rate during this recovery, investment would be $1.4 trillion higher. The report fingers regulation on business and American investors finding better returns abroad. Yet Mr. Obama's solution is to raise the capital gains and dividend tax rates.
In this policy environment, the miracle is that the U.S. economy is still growing as much as it is. That is a tribute to the natural desire of Americans to better themselves, to create the next Apple, or to discover the next technique for pulling natural gas out of shale rock.
Added to the record of the last four years, the 1.5% second quarter should solidify in the public mind that President Obama has failed on the economy. The challenge for Mitt Romney and the Republicans is to explain how we got to this pass—going back to the mistakes of the Bush years—why Mr. Obama's policies failed, and why their ideas can restore a prosperity that we once took for granted.
From the Bureau of Economic analysis.
Why would anyone vote for Obama again?????
Dependency.
ReplyDeleteRomney fears.
Perceived (or realized) benefits from Obamacare.
Relatives who are not going to be deported.
Financial envy.
Not many good reasons.
Any more questions? :-)
Jean
I fear the dependency on Romney for the benefits from Obamacare that Mr. Romney currently enjoys (and better)and am therefore envious of his financial status--------I have some relatives I wish WOULD be deported, like maybe to Mars?
ReplyDeleteSERIOUSLY, our recovery is not failed, it is incomplete. The hole is so deep, and we keep diggin'---------its gonna take a long, long time to recover from our short-sighted excesses. I am a believer of the 10 yr time frame.
SERIOUSLY, our recovery is not failed, it is incomplete.
DeleteThis recovery will never be complete as there is no recovery. If the media says it often enough will it be real? No, takes more than talk for a recovery.
And you are correct, the excesses of the last 4 years has eclipsed the past and surpassed all expectations of government largess.
Lou.
ReplyDeleteI do not think the recovery, or lack of same, can be sheeted home only to the Democrats. You had 8 years of Bush before O and the situation fiscally deteriorated during that period. The hole is deep and steps need to be cut in the slope to find a way out.
Perhaps there is however justification for severe criticism of the Hill; where to an outsider there is emphasis on party politics before government of the country. Both sides have a similar history of self cantered indulgence before legislating for the people who elected them
"Perhaps there is however justification for severe criticism of the Hill; where to an outsider there is emphasis on party politics before government of the country. Both sides have a similar history of self cantered indulgence before legislating for the people who elected them"
DeleteDING! You nailed it Kingston. That said, the conservatives here who will agree with you if you castigate liberals they way who flatly reject what you are saying here.
K,
DeleteYou are correct for the last 2 years. The first 2 years of the Obama administration belongs to the Dems and Obama. 800 billion wasted on a failed stimulus. A healthcare overhaul that will likely bankrupt the nation. Take over of the student loan pro=gram that will likely cost the nation a trillion as students default on the loans.
The Rep's of past were not much better. We are in need of hope and change for real this time. The current administration has proven they just don't have it.
And on cue Kingston, here is the flat rejection that Republicans have anything to do the horrible state we face today. I appreciate our discussions quite a bit Lou, but I just can't agree with these tiny slice views. You completely glaze over what happened for a full six years under Bush, admit a teensy bit of culpability for the last two years, but jump full into a the belief that 2 years of full Democratic control is to blame for everything wrong in the world today.
DeleteWhether liberal or conservative, I just don't understand how people can so completely disregard major trends that have been happening for decades.
It would be very interesting to overlay these GDP charts on the velocity of money chart that TD posted here the other day. It seems as if the GDP can rise and fall dramatically even as the velocity of money has fallen steadily since 1980. I'm not sure what that is telling us except that more and more money is finding its way into the hands of people that don't spend it.
ReplyDeleteThe velocity of money is being adversely affected by the imports and our reliance on foreign countries as a provider of goods. People get money, buy a Honda, good bye money, people spend on Walmart junk, bye, bye money. The velocity ends when it's exported overseas.
DeleteThe GDP appears to continuously increase. If all of the money was leaving the country, wouldn't our GDP decrease?
DeleteStormy.
DeleteWhen I first looked at economics 50 years ago I learnt that GDP was a misnomer and the ": P" does not mean productive manufacture but anything used or done even not done to produce a paper profit. Herewith is the definition of "Service Industries”, once a minor component of GDP but with the exponential growth of soft college degrees producing "Therapists" and other self styled experts in everything from alternative medicine to growing organic vegetables; the GDP grows large but essentially non productive. For those interested the economic definition of GDP is "The monetary value of all the finished goods and services produced within a country's borders in a specific time period,
Cheers from Aussie