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No, They are willing to risk it to "save the economy"

Posted By: or whatever. Character matters to SOME.nm on 2008-11-11
In Reply to: Me either -and anyone who bothered to research - Obama would never elect this dangerous man.nm

nm


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Former 9/11 Commissioners: U.S. at Risk

Am I the only one who isn't surprised by this?? 






Former 9/11 Commissioners: U.S. at Risk





By HOPE YEN, Associated Press WriterSun Dec 4, 6:28 PM ET



The U.S. is at great risk for more terrorist attacks because Congress and the White House have failed to enact several strong security measures, members of the former Sept. 11 commission said Sunday.


It's not a priority for the government right now, said the former chairman, Thomas Kean, ahead of the group's release of a report Monday assessing how well its recommendations have been followed.


More than four years after 9/11 ... people are not paying attention, the former Republican governor of New Jersey said. God help us if we have another attack.


Added Lee Hamilton, the former Democratic vice chairman of the commission: We believe that another attack will occur. It's not a question of if. We are not as well-prepared as we should be.


The five Republicans and five Democrats on the commission, whose recommendations are now promoted through a privately funded group known as the 9/11 Public Discourse Project, conclude that the government deserves more Fs than As in responding to their 41 suggested changes.


Since the commission's final report in July 2004, the government has enacted the centerpiece proposal to create a national intelligence director. But the government has stalled on other ideas, including improving communication among emergency responders and shifting federal terrorism-fighting money so it goes to states based on risk level.


There is a lack of a sense of urgency, Hamilton said. There are so many competing priorities. We've got three wars going on: one in Afghanistan, one in Iraq and the war against terror. And it's awfully hard to keep people focused on something like this.


National security adviser Stephen Hadley said Sunday that President Bush is committed to putting in place most of the commission's recommendations.


Obviously, as we've said all along, we are safer, but not yet safe. There is more to do, Hadley said on Fox News Sunday.


Ex-commissioners contended the government has been remiss by failing to act more quickly.


Kean said the Transportation Security Administration was wrong to announce changes last week that will allow airline passengers to carry small scissors and some sharp tools. He also said the agency, by now, should have consolidated databases of passenger information into a single terror watch list to aid screening.


I don't think we have to go backward here, said Kean, who appeared with Hamilton on NBC's Meet the Press.


They're talking about using more money for random checks. Terrorists coming through the airport may still not be spotted, Kean said.


Kean and Hamilton urged Congress to pass spending bills that would allow police and fire to communicate across radio spectrums and to reallocate money so that Washington and New York, which have more people and symbolic landmarks, could receive more for terrorism defense.


Both bills have stalled in Congress, in part over the level of spending and turf fights over which states should get the most dollars.


This is a no-brainer, said Hamilton, a former Indiana congressman.


From the standpoint of responding to a disaster, the key responders must be able to talk with one another. They could not do it on 9/11, and as a result of that, lives were lost. They could not do it at (Hurricane) Katrina. They still cannot do it.


As for the dollar dispute, Hamilton said, We know what terrorists want to do: they want to kill as many Americans as possible. That means you protect the Washington monument and United States Capitol, and not other places.

Congress established the commission in 2002 to investigate government missteps that led to the attacks of Sept. 11, 2001. Its 567-page final report, which became a national best seller, does not blame Bush or former President Clinton for missteps contributing to the attacks but did say they failed to make anti-terrorism a higher priority.

The commission also concluded that the Sept. 11 attack would not be the nation's last, noting that al-Qaida had tried for at least 10 years to acquire weapons of mass destruction.

Calling the country less safe than we were 18 months ago, former Democratic commissioner Jamie Gorelick said Sunday the government's failure to move forward on the recommendations makes the U.S. more vulnerable.

She cited the failure to ensure that foreign nations are upgrading security measures to stop proliferation of nuclear, biological and chemical materials, as well as the FBI's resistance to overhauling its anti-terror programs.

You remember the sense of urgency that we all felt in the summer of 2004. The interest has faded, the Washington lawyer said on ABC's Good Morning America. You could see that in the aftermath of Katrina. We assumed that our government would be able to do what it needed to do and it didn't do it.

___

On the Net:

9/11 Public Discourse Project: http://www.9-11pdp.org/






I risk getting banned, but all I can think of
reading your post is: STUPID and living in a sdmall village in the MIDWEST, right?
Hehehehehe!
I think the risk to the hostage is too high...(sm)
to just storm them.  France just did that to another one that had French hostages, and one of the hostages was killed during the raid.  I really don't want these guys to get away, but if we're talking about the safety of the hostage, maybe the best thing right now is to pay the ransom and then go after them.  I don't think they WANT to kill the hostage because then they get no money.  Keep in mind, this is a source of income for them  -- that's why they do it.
At the risk of sounding cold
I agree that it is a terrible thing that there has been no social security increase for 2 years. However, I must point out that I have actually seen a decrease in my income in the last 2 years. While I don't believe that they should be punished in their golden years, point of fact is that most of them do have their houses paid off. Their families are grown and gone. They are eligible for Medicare.

I believe it is endemic of the economy as a whole...obviously, if there's nobody working, there's nobody paying into social security. However, things are just as bleak out here for those of who who constitute the younger working poor, with mortgage/rent payments, medical insurance (if we can even get it), families to feed and dress, etc.
At the risk of being called one of the religious fanatics....
and lumping everyone together in one pile is not fair may I say...you believe in choice. You are taking choice away from the child. If the child was able to speak I am relatively sure it would not choose to be exterminated like vermin. You want to give all the power to the woman over her body...perhaps she should take some responsibility for that body and not fall back on extermination as a method of birth control. If abortion was stopped for all but rape, incest, and endangering life of the mother hundreds of thousands of babies would be saved every year. What happened to responsibility? Why was that abandoned in the name of choice? If you can speak for the choice of the woman, why can't some of us speak for the right to life of the child? If she has it and drowns in 10 days later, she is tried for murder. What a difference 10 days makes, eh??

As far as jobs going overseas...when our government taxes businesses into oblivion (happens in every Dem admin) jobs go overseas. Because we have the next to highest business taxes in the entire world. That discourages businesses coming here also...and the jobs those businesses would create...as well as sending jobs from here offshore. Or they close completely, and jobs are lost. I have gone up steadily in earnings since the Clinton administration. I am doing much better now than I was then.

Socialism (redistribution of wealth) does not work either. It never has. Cuba, Venezuela...it never works. All that happens in socialism is eventually the middle class disappears, and all you have is the upper crust (govt and cronies) and the rest of the people. And in that case the money stays at the top...it never quite gets to the "people" where it was promised it would go. I imagine the Venezuelan people are still waiting for their oil checks since the government took it over. Socialism doesn't work. It is a myth to get people to give over the power to the power brokers...in our case, the DNC. Be careful what you ask for....
The child would be more at risk due to the enlarged ventricles and
pressure on the head. However, since you already know the child has hydrocephalus before she is born, you can make the choice as I did for C-section. I've done a lot of research on hydrocephalus the last 8+ years and I agree... this would not put the mother at high risk. And, hydrocephalus is not an immediate "vegetable" diagnosis by any means.
At the risk of hastening my descent into the brimstone
I almost think you're the one who is making religion almost too easy. It doesn't seem to matter what kind of a scumbag you are, as long as you believe Jesis died for your sins. Which explains a lot about some of what the "faithful" have said. You have no reason to lead an upstanding life...as long as you believe, you can break every commandment and still bask in your god's glory. Nice...maybe I've been going about this all wrong. Contrary to what you may think, I do believe in Jesus, the trinity, etc. But I somehow had the misguided notion that God judged us based on our character. Boy, have I been wasting a lot of time and patience.
Okay, well at the risk of starting a world war, that link does not work.
It says Page Not Found.  It appear Starcat was able to see it.  Evidently, it really IS a left-right problem.
JBB, I like your thinking, but at the risk of "beating a dead horse," .......
Buy new computers = putting money in the economy = jobs for people to build computers.

Those computers are built in Japan, China, Korea, and almost every place in the world BUT the USA.

Just like last year when we got our "stimulus check." The only economies jump started, if any, were the ones overseas when everybody bought their TV's, computers etc.

Carrying a hydrocephalic fetus doesn't put the mother at high risk. Please.. nm
x
Here's another one regarding the economy.

And you're right.  Some people do. 










The Joyless Economy
by Paul Krugman
The New York Times
December 5, 2005


Falling gasoline prices have led to some improvement in consumer confidence over the past few weeks. But the public remains deeply unhappy about the state of the economy. According to the latest Gallup poll, 63 percent of Americans rate the economy as only fair or poor, and by 58 to 36 percent people say economic conditions are getting worse, not better.

Yet by some measures, the economy is doing reasonably well. In particular, gross domestic product is rising at a pretty fast clip. So why aren't people pleased with the economy's performance?

Like everything these days, this is a political as well as factual question. The Bush administration seems genuinely puzzled that it isn't getting more credit for what it thinks is a booming economy. So let me be helpful here and explain what's going on.

I could point out that the economic numbers, especially the job numbers, aren't as good as the Bush people imagine. President Bush made an appearance in the Rose Garden to hail the latest jobs report, yet a gain of 215,000 jobs would have been considered nothing special - in fact, a bit subpar - during the Clinton years. And because the average workweek shrank a bit, the total number of hours worked actually fell last month.

But the main explanation for economic discontent is that it's hard to convince people that the economy is booming when they themselves have yet to see any benefits from the supposed boom. Over the last few years G.D.P. growth has been reasonably good, and corporate profits have soared. But that growth has failed to trickle down to most Americans.

Back in August the Census bureau released family income data for 2004. The report, which was overshadowed by Hurricane Katrina, showed a remarkable disconnect between overall economic growth and the economic fortunes of most American families.

It should have been a good year for American families: the economy grew 4.2 percent, its best performance since 1999. Yet most families actually lost economic ground. Real median household income - the income of households in the middle of the income distribution, adjusted for inflation - fell for the fifth year in a row. And one key source of economic insecurity got worse, as the number of Americans without health insurance continued to rise.

We don't have comparable data for 2005 yet, but it's pretty clear that the results will be similar. G.D.P. growth has remained solid, but most families are probably losing ground as their earnings fail to keep up with inflation.

Behind the disconnect between economic growth and family incomes lies the extremely lopsided nature of the economic recovery that officially began in late 2001. The growth in corporate profits has, as I said, been spectacular. Even after adjusting for inflation, profits have risen more than 50 percent since the last quarter of 2001. But real wage and salary income is up less than 7 percent.

There are some wealthy Americans who derive a large share of their income from dividends and capital gains on stocks, and therefore benefit more or less directly from soaring profits. But these people constitute a small minority. For everyone else the sluggish growth in wages is the real story. And much of the wage and salary growth that did take place happened at the high end, in the form of rising payments to executives and other elite employees. Average hourly earnings of nonsupervisory workers, adjusted for inflation, are lower now than when the recovery began.

So there you have it. Americans don't feel good about the economy because it hasn't been good for them. Never mind the G.D.P. numbers: most people are falling behind.

It's much harder to explain why. The disconnect between G.D.P. growth and the economic fortunes of most American families can't be dismissed as a normal occurrence. Wages and median family income often lag behind profits in the early stages of an economic expansion, but not this far behind, and not for so long. Nor, I should say, is there any easy way to place more than a small fraction of the blame on Bush administration policies. At this point the joylessness of the economic expansion for most Americans is a mystery.

What's clear, however, is that advisers who believe that Mr. Bush can repair his political standing by making speeches telling the public how well the economy is doing have misunderstood the situation. The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.


The economy. It's not going anywhere
counting.
Economy going down is right.
work for, the largest transcription company in the US, is now paying us for ASR, 60% and others will get straight 4 cents a line. 
Actually, no, not the economy....(sm)
I was actually referring to Pelosi and her power grab, cutting off all GOP opposition, behind closed doors, that no one will ever hear about again, from the other day.

And did you catch Barney Frank today on the retroactive rules on the TARP?


http://www.newsmax.com/politics/tarp/2009/01/09/169663.html?utm_medium=RSS
What I am doing to help the economy

1.  I pray for this country and the president every day.


2.  I'm not constantly complaining about everything.


3.  I am not watching the DOW like it's American Idol.


4.  I’ve taken fiscal responsibility for me and my home.


5.  I give what I can to the food banks and my church etc. to help those who need help.


 


I did not vote for President Obama.  I do not think he is the messiah and I certainly will not blame him for the mess we are in right now simply because we all played a part.  No one forced anyone to take house loans that they could not pay, no one forces us to use our credit card and run up debts and live beyond our means, no one predicted that you would take a loan and then lose your job and be in foreclosure and no one regulated the banks like they should of.


 


Now that being said, in a crisis it is so easy to look for someone to blame, become angry, and forget who we are.  So my advice the next time you are at your kitchen table wondering how you are going to make ends meet, that you remember who you are, an American.  I would also advise getting some debt management help.


 


So please, instead of running around with your hands up in the air thinking the worst and claiming the sky is falling, try listening to the Star Spangled Banner or something that is positive.  I have found that this helps me a lot.


 


Now let us all take a good long look in the mirror, have a little faith in ourselves as a country and stop beating up on each other.  Have a good day everyone and God Bless America.


 


What I am doing to help the economy

1.  I pray for this country and the president every day.


2.  I'm not constantly complaining about everything.


3.  I am not watching the DOW like it's American Idol.


4.  I’ve taken fiscal responsibility for me and my home.


5.  I give what I can to the food banks and my church etc. to help those who need help.


 


I did not vote for President Obama.  I do not think he is the messiah and I certainly will not blame him for the mess we are in right now simply because we all played a part.  No one forced anyone to take house loans that they could not pay, no one forces us to use our credit card and run up debts and live beyond our means, no one predicted that you would take a loan and then lose your job and be in foreclosure and no one regulated the banks like they should of.


 


Now that being said, in a crisis it is so easy to look for someone to blame, become angry, and forget who we are.  So my advice the next time you are at your kitchen table wondering how you are going to make ends meet, that you remember who you are, an American.  I would also advise getting some debt management help.


 


So please, instead of running around with your hands up in the air thinking the worst and claiming the sky is falling, try listening to the Star Spangled Banner or something that is positive.  I have found that this helps me a lot.


 


Now let us all take a good long look in the mirror, have a little faith in ourselves as a country and stop beating up on each other.  Have a good day everyone and God Bless America.


 


Please take Economy 101
Your pathetic little woe-is-me mentality is the problem with the economy.

Wake up, eejit. The 'rich' people are the ones paying all the taxes. The runts at the bottom - you know - the ones so unintelligent or unmotivated to make it in the world - pay no taxes and suck all the money out of the country.

No country ever got anywhere by taking down the successful people and raising up the ingrates. In America, you can get rich if you want to. But you have to work for it. If you don't have the guts or the self-motivation, you get to live according to your own means.

Suck it up.
The Economy

The Economy - Not the President - is Tanking the Market


by:  Hale Stewart



One of the more ridiculous statements going around over the last few weeks is "this is an Obama bear market." This statement is, well, ill-informed at best and fraudulent at worst. Let's look at why.


First -- who is saying this? Such economic luminaries as John Hawkins at Right Wing News (who actually asked Is Obama Deliberately Tanking the Stock Market?), Powerline, Brit Hume along with a host of other right wing bloggers. What all of these people have in common is their incessant chearleading during the Bush years despite mounting evidence of an upcoming recession. There are the same people who argued that ... housing is a small part of the economy ... most people are paying their mortgages ... the US economy will decouple from the rest of the world .... it's the greatest story never told ..... you get the idea. Simply put, these are people who have distinguished themselves by being some of the best contrary indicators around.


Secondly, the SPYs -- the tracking ETF for the S&P 500 -- dropped from (roughly) 155 in the summer of 2007 to (roughly) 85 at the end of last year. Yet I don't remember any of them saying that was the Bush bear market -- even though that's a drop of roughly 43%. No -- it's the new President that's causing the problems. In addition, when Bush took office the SPYs dropped from roughly 130 at the begging of 2001 to 85 in the fourth quarter of 2002. Yet somehow I don't think any of them blamed Bush's policies for the drop. Then it was the "lasting effects of the Clinton recession" or something similar.


What all of these idiots are forgetting is the simple fact that the economy is the backdrop of the stock market. When the economy does well the stock market does well. When the economy doesn't do well, the stock market doesn't do well. And to that end, the economy isn't doing well right now. Let's look at some recent news events.


From the BEA:


Real gross domestic product -- the output of goods and services produced by labor and propertylocated in the United States -- decreased at an annual rate of 6.2 percent in the fourth quarter of 2008,(that is, from the third quarter to the fourth quarter), according to preliminary estimates released by theBureau of Economic Analysis. In the third quarter, real GDP decreased 0.5 percent.

From the BLS:



Nonfarm payroll employment continued to fall sharply in February (-651,000), and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employment has declined by 2.6 million in the past 4 months. In February, job losses were large and widespread across nearly all major industry sectors.



From the Federal Reserve:


Reports from the twelve Federal Reserve Districts suggest that national economic conditions deteriorated further during the reporting period of January through late February. Ten of the twelve reports indicated weaker conditions or declines in economic activity; the exceptions were Philadelphia and Chicago, which reported that their regional economies "remained weak." The deterioration was broad based, with only a few sectors such as basic food production and pharmaceuticals appearing to be exceptions. Looking ahead, contacts from various Districts rate the prospects for near-term improvement in economic conditions as poor, with a significant pickup not expected before late 2009 or early 2010.

Consumer spending remained sluggish on net, although many Districts noted some improvement in January and February compared with a dismal holiday spending season. Travel and tourist activity fell noticeably in key destinations, as did activity for a wide range of nonfinancial services, with substantial job cuts noted in many instances. Reports on manufacturing activity suggested steep declines in activity in some sectors and pronounced declines overall. Conditions weakened somewhat for agricultural producers and substantially for extractors of natural resources, with reduced global demand cited as an underlying determinant in both cases. Markets for residential real estate remained largely stagnant, with only minimal and scattered signs of stabilization emerging in some areas, while demand for commercial real estate weakened significantly. Reports from banks and other financial institutions indicated further drops in business loan demand, a slight deterioration in credit quality for businesses and households, and continued tight credit availability.




From the FDIC:





Expenses associated with rising loan losses and declining asset values overwhelmed revenues in the fourth quarter of 2008, producing a net loss of $26.2 billion at insured commercial banks and savings institutions. This is the first time since the fourth quarter of 1990 that the industry has posted an aggregate net loss for a quarter. The ?0.77 percent quarterly return on assets (ROA) is the worst since the ?1.10 percent in the second quarter of 1987. A year ago, the industry reported $575 million in profits and an ROA of 0.02 percent. High expenses for loan-loss provisions, sizable losses in trading accounts, and large writedowns of goodwill and other assets all contributed to the industry's net loss. A few very large losses were reported during the quarter-four institutions accounted for half of the total industry loss-but earnings problems were widespread. Almost one out of every three institutions (32 percent) reported a net loss in the fourth quarter. Only 36 percent of institutions reported year-over-year increases in quarterly earnings, and only 34 percent reported higher quarterly ROAs.


I could go on, but you you get the idea. The news of the underlying economy has been terrible (at best). And that's what's causing the problems.

 



The economy had nothing to do with ........
his jumping to grow BIG and BIGGER government; he was going to do that regardless of the economy. Obama is for big government and was WAAAY before he was elected. The economy was a good excuse to scare people into electing him, as if this country couldn't pick itself up, get rid of the bad, new companies come in, and the economy would continue all on its own, WITHOUT Obama's interference. But, of course, he jumped at the chance to push his HUGE government agenda by taxing us to death. Please don't tell me you won't pay any taxes. How in the heck do you think trillions of dollars of debt will be repaid..... and no, it won't be those mean old "rich" people everyone loves to hate and it won't be the big businesses Obama wants you to hate, it will be YOU and me..... business will just pass their increased tax load onto us!! Way to go Obama!!
And the economy isn't already gasping its

So is theft of the economy! nm
xx
why can't the economy be first and we have the debate...
after it is fixed. Why does the debate HAVE to be on Friday?
I have learned so much about the economy over...sm
the last week but it has only made me see how much more I don't know.  Pretty scary!  We are all at the mercy of those in Washington and on Wall Street.  Plenty of blame to go around but blame will not get us out of this mess.
The candidate who ran from the economy...
Obama voted for the bailout and that is ALL he did. That is not running from it? He still wants to spend trillions, won't say he is willing to cut spending, and wants to RAISE taxes in an economic downturn. You can't turn around the markets by raising taxes on corporations and the so-called "rich." Common sense should tell you that.

McCain has run from nothing. All Obama does is repeat the same old vagaries and NEVER gets specific about anything, but why should he? You obviously don't care. lol.
The OP is talking about the economy. nm
z
Not as compelling as the economy.
x
In a McCain economy, you will be
su
Who has been in charge of the economy for the

Democrats own congress....... they are the ones responsible for the complete mess of this economy.   But because there is a republican president, the republicans get the blame. 


Republican president really can't get anything done with an all democrat congress. 


He is going to do that by destroying the economy...
of Pennsylvania, West Virginia, Virginia, Ohio...making us all pay higher utility bills? What are his proposals? He doesn't want coal. He doesn't want nuclear. We CAN'T do it with windmills, not all of it, even T. Boone Pickens will tell you that.

Nuclear energy and building plants WOULD bring thousands of new jobs.

Sorry...his energy plans make NO sense to me, nor where he is going to get the billions, in this economy, to put his ideas into action.

He is already preparing the speech where he tells his faithful he can't do a lot of what he said he would do.

Snake oil salesman.
You are for, then....destroying the economy of...
the coal producing states and skyrocketing our electric bills...THIS on top of everything else, and he still looks GOOD to you? Amazing. lol.
Yes, and the economy with still stink. O will put us
nm
how is it going right back into the economy?
and WHO is it benefiting?

and one more thing... if this was McCain's inauguration, you would have no problem with the amount being spent either?

come on, be honest now
What would you undertake to fix the economy?.
Any better idea?
If you criticize, you have to come up with a better alternative.
fixing the economy...
I hope that by the time these projects are over, the economy will be better and the companies will therefore have new projects to move on to. The money that these jobs generate in taxes and in spending will spur more movement forward and we can hopefully start getting back on track.
Would that not stimulate the economy? sm
Think about it. If a person has a mortgage payment of say $500 a month (or any figure, really) and the government wrote a check for, say, $50K to that individual and it would pay off their house, would that not free up that $500 to be spent in other ways that would stimulate the economy?

People who are struggling to make their house payment, regardless of the reason, are still consumers and those consumers would be able to put more money back into the economy if they didn't have a mortgage payment. Isn't that the whole idea? To get more people spending more money so that more jobs would be created and so that our economy would grow?
Economy notice
Economy Notice

Due to recent budget cuts and the cost of electricity,
gas and oil, as well as current market conditions and
the continued decline of the U.S. economy,

The Light at the End of the Tunnel has been turned off.

We apologize for the inconvenience.
So much for fixing our economy

Mr. President.  This is the biggest problem I have with Barrack Obama.  He is all about implementing his personal agenda and making us all dependent on government while it grows bigger and bigger that he doesn't stop to think about the consequences that these actions will have on our already horrible economy.  All he talks about are the jobs he has created or saved and I'm sorry.....but I don't see that from where I'm sitting.  I see people all around me losing jobs or about to lose jobs and cap and trade will most definitely cause more job loss. 


Let our economy fix itself, Mr. President, and then we can talk about your personal agenda.  Any person who wants to raise taxes during a recession is a complete and utter moron.  Obama is doing nothing but hurting the middle class....which is the class he professed to want to help so badly. 


I have no doubt that Obama is smart or he wouldn't be where he is at.  However, I think he lacks the experience to be our president.  I personally feel that any person wanting to be president of the US should be required to have run or owned a business in the past.


I tell ya what....come 2012....I'm seriously going to be looking outside the box for our next president.  Not only will I thoroughly check out the pub and dem candidate but I'm going to check out the indepedents a lot more than I ever have in the past.  I think it is about time we show the two parties that they both suck and we have decided to go against both of them.  Maybe that will wake them up because this going back and forth between pub and crat hasn't done us much good here lately.


cant have an economy without a healthy land
Frankly, you cant have an economy, if you have no livable land or healthy people.  First and foremost is the land and it's people and animals.  Without all of that, we will not have an economy.  Funny how other industrialized countries are signing on..you know the countries who take care of their citizens with health care, paid maternity leave, paid vacation time..The caring countries..not the capitalistic class divided society of America.  OMG, just in New Orleans now you can see who are the fortunate ones versus the unfortunate ones.  The minorities are mostly all the unfortunate ones cause they could not afford to get out of town.  They are the ones hurting and rebelling.  This is the picture of America today.  The *haves* and *have nots* and Bush continues to give to the *haves* and do nothing for the *have nots*.
Republican Cut and Pasate Economy
Subject: lousy economic news

http://www.counterpunch.org/roberts12032005.html
An Economy Driven By Debt
Don't Confuse the Jobs Hype with the Facts
By PAUL CRAIG ROBERTS

The November payrolls job report was announced Friday with the usual
misleading hype. Spinmeisters made the most out of the 215,000 jobs.
Looking
beyond the glitter at the real facts, this is what we see. 21,000 of
those
jobs were government jobs supported by taxpayers. There were only
194,000
new jobs in the private sector.
Of those new jobs, 37,000 are in construction and only 11,000 are in
manufacturing. The bulk of the new jobs--144,000--are in domestic
services.

Wholesale and retail trade account for 20,000. Food services and
drinking
places (waitresses and bar tenders) account for 38,000.
Health care and social assistance account for 27,000. Professional and
business services account for 29,000. Financial activities gained
13,000
jobs. Transportation and warehousing gained 8,000 jobs.

Very few of these jobs result in tradable services that can be exported
or
help to close the growing gap in the US balance of trade.

The 11,000 new factory jobs and the 15,000 of the previous month are a
relief from the usual loss. However, these gains are more than offset
by the
job cuts recently announced by General Motors and Ford.

Despite the gain in jobs, total hours worked declined as the average
workweek fell to 33.7 hours. The decline in the labor force
participation
rate, a consequence of the shrinkage in well-paying jobs, masks a
higher
rate of unemployment than the reported 5 percent. The ratio of
employment to
population fell again in November.

Average hourly earnings (up 3.2 percent over the last year) are not
keeping
up with the consumer price index (up 4.3 percent).
Consequently, real incomes are falling.

This is not the picture of a healthy economy in which growth in high
productivity, high value-added jobs fuel the growth in consumer demand
and
provide savings to finance Washington's red ink. What we are looking at
is
an economy that is coming unglued from the loss of jobs that provide
ladders
of upward mobility and from massive trade and budget deficits that are
resulting in unsustainable growth in indebtedness to foreigners.

The consumer price index measures inflation at 4.3 percent over the
past
year. Many people, experiencing household budgets severely impacted by
fuel
prices and grocery bills, find this figure unrealistically low. PNC
Financial Services has a Christmas price index consisting of the gifts
in
the song, The 12 Days of Christmas. The index reports that the cost
of the
collection of gifts has risen 6 percent since last Christmas. Some of
the
gifts have risen substantially in price. Gold rings are up 27.5
percent, and
pear trees are up 15.4 percent. The cost of labor (drummers drumming,
maids-a-milking) has remained the same.

Populations are hard pressed when the prices of goods rise relative to
the
price of labor, because this makes it impossible for the population to
maintain its standard of living.

The US economy has been kept alive by low interest rates, which fueled
a
real estate boom. Consumers have kept growth alive by refinancing their
home
mortgages and spending the equity in their houses. Their indebtedness
has
risen.

Debt-fueled growth is qualitatively different from economic growth that
results from an increase in high value-added jobs. Economists who look
at
the 3+ percent economic growth rate and conclude that things are fine
are
fooling themselves and the public. When the real estate boom ends, what
will
be the source of new spending power?

Paul Craig Roberts has held a number of academic appointments and has
contributed to numerous scholarly publications. He served as Assistant
Secretary of the Treasury in the Reagan administration. His graduate
economics education was at the University of Virginia, the University
of
California at Berkeley, and Oxford University. He is coauthor of The
Tyranny
of Good Intentions. He can be reached at: paulcraigroberts@yahoo.com








Economy 1st issue, Terrorism last sm
What is wrong with this country? What good will money do us when our country is attacked? There is nothing like one who has walked the walk to guide us. I am thinking of my family first, it won't matter how well off we are if we are not a "free" nation. McCain knows what evil is, he lived it.
Romney certainly has the background as far as the economy....
I kinda thought Obama was going to pick Biden, because Biden protested way too much...lol. But I really have NO idea where McCain is going. They have guarded it well.
With the onset of a global economy........sm
it might not be such a stretch of the imagination.  Our cpl is dropping rapidly, if not for transcribed lines, then surely with ASR.  With the quality of the ASR I have seen lately, I pretty much have to transcribe from scratch a good percentage of reports I get.  This brings my overall cpl way below what I was hired to transcribe for. 
Interesting view on the economy...

George Bush has been in office for 7 1/2 years. The first six the economy was fine.


A little over one year ago:


  1. Consumer confidence stood at a 2 1/2 year high;
  2. Regular gasoline sold for $2.19 a gallon;
  3. The unemployment rate was 4.5%;
  4. The DOW JONES hit a record high — 14,000+;
  5. American’s were buying new cars, taking cruises, and vacations overseas, living large!

But Americans wanted CHANGE! So, in 2006 they voted in a Democratic Congress & yep — we got CHANGE all right.


In the PAST YEAR:


  1. Consumer confidence has plummeted;
  2. Gasoline hovers near $4 a gallon;
  3. Unemployment is up to 5% (a 10% increase);
  4. Americans have seen their home equity drop by $12 TRILLION DOLLARS & prices are still dropping;
  5. 1% of American homes are in foreclosure;
  6. As I write, the DOW is playing around 11,500. $2.5 TRILLION DOLLARS HAS EVAPORATED FROM OUR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS!

Yes, in 2006 America voted for change. And we sure got it. Now Barack Obama, the Democratic candidate for president, claims he’s really going to give us change.


How much more CHANGE do you think we can stand?





First 6 years, economy was great too. Then,
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Why did the economy spiral downward after the
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Yeah, and the economy has plummeted since
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You see crime being a result of economy, but I see

economy, war, health care nm
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So, you don't equate Obama with economy?
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but, seriously, it is an indication of our economy & how it affects EVERYONE. nm
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Of course, an economy that CREATES jobs, instead
just take care of a lot of that welfare abuse. There should be more OPPORTUNITIES, and fewer loopholes.