Obama's Economy

[Nickdfresh]

That's a bunch of bullish shit...

Factory orders for what, toilet paper ??

Read the article or Google it, it's not bullshit! You need TP for all this times you soil your pants here...

In order for our economy to just break even, 250,000 jobs per month need to be created...

Obomba's best month has been in the 150,000 range...

Jobs are inching upward despite a period of economic retrenchment...

We're still going down hill, just not as fast...

But it's gonna be picking back up with QE forever inflating the economy with 45 Billion dollars printed out of thin air every month...

Obomba's economy is tanking...

Yet the Dow is now mvoing over 14,000 based on a strong jobs report and is edging forward to the 14,164 all time high set in 2007 before the meltdown...

[jhale667]

Nick, you don't honestly think this economy is good, do you?? I've never seen so many people on street corners begging for food. It's getting to point where certain areas are starting to pass laws banning panhandling because it's interfering with traffic.

If the economy really were as terrible as every one on the right claims, every shopping mall wouldn't be packed (and yet they are) and people wouldn't be spending on what's considered "luxury" services like my employer provides, but we're still turning a profit (and showing slow & modest, but steady growth)...

[Hardrock69]

Elvis, you stupid asshole, go argue with the fucking people at Wall Street. If they are claiming the Dow is almost up to 14,000 and you think they are wrong, YOU go explain to them HOW THEY ARE WRONG!

Or else SHUT THE FUCK UP!

[jhale667]

Elvis, you stupid asshole, go argue with the fucking people at Wall Street. If they are claiming the Dow is almost up to 14,000 and you think they are wrong, YOU go explain to them HOW THEY ARE WRONG!

Or else SHUT THE FUCK UP!

How much you wanna bet the "because Alex Jones says so" chop doesn't work?

[Nitro Express]

The only thing rallying the stock market is Ben Bernanke dumping printed up digital Federal Reserve Notes into it and the only people it's making richer is the 1% you liberals like to finger. It's not helping the middle class because decent private sector jobs aren't being created. The only sector creating decent jobs is the government and that is why the real estate market around Washington DC never cooled down.

Since when is printing up a bunch of funny money and raising taxes to create more government jobs a good economy? Sorry kids but you actually have to produce real goods and sell them to have a real economy.

[Hardrock69]

At least you are intelligent enough to understand how the system works.

Unlike Elvis, who still has trouble counting change for a dollar.

[jhale667]

[ELVIS]

How's that Obomba dick taste these days, fellas ??

Still as good as day one ??

[ELVIS]

Scrubio...

[Nickdfresh]

How's that Obomba dick taste these days, fellas ??

Still as good as day one ??

I dunno. Why do you want to know how his dick "tastes?" Where you hoping to compare with Alex Jones' cock?

[FORD]

By the way, which republican candidate will be trotted out to run against Hillary in 2016?

Hillary IS the Republican candidate. Seriously, there needs to be an actual Democrat in the race next time.

[ELVIS]

They missed it with Romney as well...

[ELVIS]

Restored Payroll Tax Pinches Those Who Earn the Least

More good news surrounding Obomba's Economy...



New York Times

Jack Andrews and his wife no longer enjoy what they call date night, their once-a-month outing to the movies and a steak dinner at Logan’s Roadhouse in Augusta, Ga. In Harlem, Eddie Phillips’s life insurance payment will have to wait a few more weeks. And Jessica Price is buying cheaper food near her home in Orlando, Fla., even though she worries it may not be as healthy.

Like millions of other Americans, they are feeling the bite from the sharp increase in payroll taxes that took effect at the beginning of January. There are growing signs that the broader economy is suffering, too.

Chain-store sales have weakened over the course of the month. And two surveys released last week suggested that consumer confidence was eroding, especially among lower-income Americans.

While these data points are preliminary — more detailed statistics on retail sales and other trends will not be available until later this month — at street level, the pain from the expiration of a two-percentage-point break in Social Security taxes in 2011 and 2012 is plain to see.

“You got to stretch what you got,” said Mr. Phillips, 51, a front-desk clerk and maintenance man for a nonprofit housing group who earned $22,000 last year. “That little $20 or $30 affects you, especially if you’re just making enough money to stay above water.” So he has taken to juggling bills, skipping a payment on one this month and another next month.

“I’m playing catch-up each month,” he said. “You go to the supermarket and you can’t spend what you used to.”

Jack Andrews has it slightly better than Mr. Phillips. He earns a bit more than $40,000 a year manufacturing ceramics in a local factory, but because his wife, Cindy, is disabled, he is the sole breadwinner. Something had to give now that he is earning about $800 less a year, or $66 a month, and it was the couple’s monthly night out.

“It’s just gotten out of reach,” Mr. Andrews said.

The tax break, which was pushed by the White House to stimulate spending in 2011 and extended in 2012, was always supposed to be temporary. But with pressure building in Washington to reduce the deficit and politicians fighting bitterly over whether to raise taxes on the very rich, the question of how the increase in Social Security taxes would affect the poorest workers did not seem to garner much debate on either side of the aisle.

“I don’t see any reason to consider supporting its extension,” said Timothy F. Geithner, the Treasury secretary, in testimony last year. Even Nancy Pelosi, a reliable liberal who leads the Democratic minority in the House of Representatives, was for letting it expire.

The higher rate applies to all earned income up to $113,700. For a household earning $100,000 a year, the two-percentage-point increase means an additional $2,000 a year in payroll deductions. Economists estimate that the payroll tax increase will reduce disposable income by about $120 billion and shave half a percentage point from economic growth in the first quarter — a significant blow given that the economy is expected to expand only 1 to 2 percent in the first half of 2013.

“If you wanted to design a policy to squeeze the spending of lower- and middle-income households, raising the payroll tax is the way to do it,” said Ian Shepherdson, chief economist at Pantheon Macroeconomic Advisors. “It’s very regressive.”

Retailing analysts and economists say high-end earners will largely be spared.

“I wouldn’t expect it to have much of an effect on BMW consumption,” said Richard H. Thaler, a professor of behavioral science and economics at the University of Chicago’s Booth School of Business. “The people who will notice it the most are the ones making the least.”

[VAiN]

Someone needs to tell them about the stock market. That should help.

[Nickdfresh]

More good news surrounding Obomba's Economy...



New York Times

You can thank the Republi'cunts in Congress for that one, actually...