SeedyROM
02-07-2009, 04:50 AM
Porkulus aka the Obamaton Stimulus Pork Bill scandal is not needed based on honest and ethical patriots whom the U-MSM somehow refuse to discuss. The Congressional Budget Office is made up of Real Americans, not those tax and spend liars who call themselves democrats or republicans. The real story is hidden from the people for a reason, we are not important enough for them to give a hoot!
Democrats voted for Porkulus, the majority of Democrats voted for the Wallstreet and Detroit bailouts, both those Bills were littered with wasteful spending. Porkulus is littered with a lot more garbage. The Bill is a waste of human effort, the Bill is a crime occuring in real time.
They are deceiving Americans. Obama and the Democrats are Fearmongering and Threatening the Economic National Security of this nation with risky, wasteful spending designed primarily to loot the treasury for special interests and foreigners begging for money for pet projects. Over half the Bill benefits a minority of Americans.
Obama has proven he is not what he campaigned on, he is a charlatan in bed with those drive-by liberal muggers Pelosi, Reid and the rest of the tax & spend thieves. America is being conned. You heard it here first because I care more about the facts than I care about politicians out to deceive you and me.
Take note that the CBO Outlook excludes new spending!!!
http://www.cbo.gov/ftpdocs/99xx/doc9967/01-27-StateofEconomy_Testimony.pdf
The Near-Term Outlook CBO’s forecast is based on the assumption that current laws and policies governing federal spending and taxes do not change. Thus, the forecast does not reflect the impact of any fiscal stimulus package or other elements of the new Administration’s economic program. Instead, the forecast is an assessment of the economic outlook without such a package. However, the forecast does assume that the Federal Reserve and the Treasury, using resources already allocated, continue to act vigorously to stem the turmoil in financial markets. In particular, the forecast assumes that the Federal Reserve will keep the federal funds rate close to zero and will continue to supply very large amounts of credit to financial markets until financial conditions and the availability of credit return to normal. The forecast also assumes that the Federal Reserve will act to address any adverse developments that threaten the liquidity or stability of the financial system.
Under those assumptions, CBO anticipates that the current recession, which started in December 2007, will last until the second half of 2009, making it the longest recession since World War II. (The 1973–1974 and 1981–1982 recessions both lasted 16 months; if the current recession continues beyond midyear, it will have lasted at least 19 months.) It could also be the deepest recession during the postwar period in terms of the difference between actual and potential output. By CBO’s estimates, economic output over the next two years will average 6.8 percent below its potential. The unemployment rate will increase to 9.2 percent by early 2010, up from a low
of 4.4 percent at the end of 2006. The peak figure would still be below the 10.8 percent unemployment rate seen near the end of the 1981–1982 recession, because the unemployment rate was much lower at the start of this recession than it was before the downturn in the early 1980s. According to CBO’s forecast, real gross domestic product (GDP) in 2009 will average 2.2 percent below its level in 2008 and in 2010 will average only 1.5 percent above the 2009 level (see Table 1).
http://www.democratandchronicle.com/article/20090111/NEWS01/901110343/1002/NEWS
Gross domestic product, a measure of the national economy, has been shrinking, and some economists expect the last three months of 2008 will show a negative rate as high as 6 percent.
When will it all end? When will the economy stop receding and resume growing?
Opinions vary widely about when a recovery will begin and what it will be like. Many economists and business leaders expect growth in the second half of 2009. Some said early 2010.
All predicted the next few months will probably be like the last few months: ugly. "I'm bullish, but the next six months are not going to be pretty," said Mark Zupan, dean of the William E. Simon Graduate School of Business Administration at the University of Rochester.
The recovery could begin in the third quarter of 2009, Zupan said, with stimulus already under way in the form of lower energy costs and lower interest rates. But in the meantime, unemployment will rise.
Zupan expects U.S. joblessness to increase from December's 7.2 percent, the highest in almost 16 years, but not reach the highs of the 1981-82 recession, when the rate hit 10.8 percent. In the Rochester area, the unemployment rate was 5.9 percent in November, while the statewide rate was 6.1 percent. December figures for the state and region are due out later this month.
"I don't think people are expecting any real change until well into the second half of the year, probably fourth quarter," said Sandy Parker, Rochester Business Alliance president, as she addressed the 2009 outlook last week. "It's going to be a long year."
Wild cards and unpredictable variables exist, so predictions can fall flat, the experts said. Zupan noted that energy prices could still rise if there is instability in the market, or if events seemingly as far away as the Russia-Ukraine standoff over natural gas disrupt supplies on a wider basis.
Another major factor is government stimulus, or targeted spending, which is being devised by President-elect Barack Obama and Congress.
Estimates of the stimulus bill range from $775 billion to $1 trillion.
That targeted spending could help the economy, said Daniel Tessoni, accounting professor at Rochester Institute of Technology. But "we're running out of the prescriptive tools necessary," he said. "The federal government can only do so much."
Tessoni is concerned that Obama is talking about a $300 billion tax cut over two years at the same time he's proposing aggressive new spending on infrastructure such as roads and bridges across the country. "Pretty soon, you just can't keep doing that," the RIT professor said
Democrats voted for Porkulus, the majority of Democrats voted for the Wallstreet and Detroit bailouts, both those Bills were littered with wasteful spending. Porkulus is littered with a lot more garbage. The Bill is a waste of human effort, the Bill is a crime occuring in real time.
They are deceiving Americans. Obama and the Democrats are Fearmongering and Threatening the Economic National Security of this nation with risky, wasteful spending designed primarily to loot the treasury for special interests and foreigners begging for money for pet projects. Over half the Bill benefits a minority of Americans.
Obama has proven he is not what he campaigned on, he is a charlatan in bed with those drive-by liberal muggers Pelosi, Reid and the rest of the tax & spend thieves. America is being conned. You heard it here first because I care more about the facts than I care about politicians out to deceive you and me.
Take note that the CBO Outlook excludes new spending!!!
http://www.cbo.gov/ftpdocs/99xx/doc9967/01-27-StateofEconomy_Testimony.pdf
The Near-Term Outlook CBO’s forecast is based on the assumption that current laws and policies governing federal spending and taxes do not change. Thus, the forecast does not reflect the impact of any fiscal stimulus package or other elements of the new Administration’s economic program. Instead, the forecast is an assessment of the economic outlook without such a package. However, the forecast does assume that the Federal Reserve and the Treasury, using resources already allocated, continue to act vigorously to stem the turmoil in financial markets. In particular, the forecast assumes that the Federal Reserve will keep the federal funds rate close to zero and will continue to supply very large amounts of credit to financial markets until financial conditions and the availability of credit return to normal. The forecast also assumes that the Federal Reserve will act to address any adverse developments that threaten the liquidity or stability of the financial system.
Under those assumptions, CBO anticipates that the current recession, which started in December 2007, will last until the second half of 2009, making it the longest recession since World War II. (The 1973–1974 and 1981–1982 recessions both lasted 16 months; if the current recession continues beyond midyear, it will have lasted at least 19 months.) It could also be the deepest recession during the postwar period in terms of the difference between actual and potential output. By CBO’s estimates, economic output over the next two years will average 6.8 percent below its potential. The unemployment rate will increase to 9.2 percent by early 2010, up from a low
of 4.4 percent at the end of 2006. The peak figure would still be below the 10.8 percent unemployment rate seen near the end of the 1981–1982 recession, because the unemployment rate was much lower at the start of this recession than it was before the downturn in the early 1980s. According to CBO’s forecast, real gross domestic product (GDP) in 2009 will average 2.2 percent below its level in 2008 and in 2010 will average only 1.5 percent above the 2009 level (see Table 1).
http://www.democratandchronicle.com/article/20090111/NEWS01/901110343/1002/NEWS
Gross domestic product, a measure of the national economy, has been shrinking, and some economists expect the last three months of 2008 will show a negative rate as high as 6 percent.
When will it all end? When will the economy stop receding and resume growing?
Opinions vary widely about when a recovery will begin and what it will be like. Many economists and business leaders expect growth in the second half of 2009. Some said early 2010.
All predicted the next few months will probably be like the last few months: ugly. "I'm bullish, but the next six months are not going to be pretty," said Mark Zupan, dean of the William E. Simon Graduate School of Business Administration at the University of Rochester.
The recovery could begin in the third quarter of 2009, Zupan said, with stimulus already under way in the form of lower energy costs and lower interest rates. But in the meantime, unemployment will rise.
Zupan expects U.S. joblessness to increase from December's 7.2 percent, the highest in almost 16 years, but not reach the highs of the 1981-82 recession, when the rate hit 10.8 percent. In the Rochester area, the unemployment rate was 5.9 percent in November, while the statewide rate was 6.1 percent. December figures for the state and region are due out later this month.
"I don't think people are expecting any real change until well into the second half of the year, probably fourth quarter," said Sandy Parker, Rochester Business Alliance president, as she addressed the 2009 outlook last week. "It's going to be a long year."
Wild cards and unpredictable variables exist, so predictions can fall flat, the experts said. Zupan noted that energy prices could still rise if there is instability in the market, or if events seemingly as far away as the Russia-Ukraine standoff over natural gas disrupt supplies on a wider basis.
Another major factor is government stimulus, or targeted spending, which is being devised by President-elect Barack Obama and Congress.
Estimates of the stimulus bill range from $775 billion to $1 trillion.
That targeted spending could help the economy, said Daniel Tessoni, accounting professor at Rochester Institute of Technology. But "we're running out of the prescriptive tools necessary," he said. "The federal government can only do so much."
Tessoni is concerned that Obama is talking about a $300 billion tax cut over two years at the same time he's proposing aggressive new spending on infrastructure such as roads and bridges across the country. "Pretty soon, you just can't keep doing that," the RIT professor said