In 2000, at the end of Clinton’s administration, the Consumer Confidence Index was at a record high 140. By January, 2009 this index had fallen to an historic low of 25.3. Comparatively, when Reagan took office at the end of the economically weak Carter years the Confidence Index was still at 74.4! Today this measure of how people feel about the country is still nowhere near 2000 levels, but it is almost 3 times better than 4 years ago.Can we thank him for being the best economic president ever?
http://www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/
You're***Surely your not this stupid?Can we thank him for being the best economic president ever?
http://www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/
In 2000 the baby boom generation was aged 54 to 36. This was the tipping of their "borrowing and buying" portion of their generation.Todd Andrews said:In 2000, at the end of Clinton’s administration, the Consumer Confidence Index was at a record high 140. By January, 2009 this index had fallen to an historic low of 25.3. Comparatively, when Reagan took office at the end of the economically weak Carter years the Confidence Index was still at 74.4! Today this measure of how people feel about the country is still nowhere near 2000 levels, but it is almost 3 times better than 4 years ago.Otis said:Can we thank him for being the best economic president ever?
http://www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/
Significantly, in 2000 America had a budget surplus. By 2009 surpluses were long gone and the country was racking up historic deficits as taxes were cut while simultaneously outlays for defense skyrocketed to cover costs of wars in Iraq and Afghanistan. Additionally, banks were on the edge of failing due to unregulated real estate speculation and massive derivative losses.
Today the Congressional Budget Office is reporting a $200B decrease in the deficit almost entirely due to increased revenue from a growing economy and higher taxes on the wealthiest Americans. The deficit is now only 4% of the GDP, down from over 10% at the end of Bush’s administration – and projections are for it to be only 2% by 2015 (before Obama leaves office.) America’s “debt problem” seems largely solved, and almost all due to growth rather than austerity.
We can largely thank a fairer tax code, improved regulation and consistent SEC enforcement. Also, major strides in health care reform – something no other President has accomplished – has given American’s more faith in their future, and an increased willingness to invest.
Sounds like a good time to be the president then.Unless things have changed demographically we will have the youngest workforce in the industrialized world by the 20's. If the economy doesn't suck we will be in a pretty good place.
Of course demographics and aging play a role, but facts are facts.In 2000 the baby boom generation was aged 54 to 36. This was the tipping of their "borrowing and buying" portion of their generation.Todd Andrews said:In 2000, at the end of Clinton’s administration, the Consumer Confidence Index was at a record high 140. By January, 2009 this index had fallen to an historic low of 25.3. Comparatively, when Reagan took office at the end of the economically weak Carter years the Confidence Index was still at 74.4! Today this measure of how people feel about the country is still nowhere near 2000 levels, but it is almost 3 times better than 4 years ago.Otis said:Can we thank him for being the best economic president ever?
http://www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/
Significantly, in 2000 America had a budget surplus. By 2009 surpluses were long gone and the country was racking up historic deficits as taxes were cut while simultaneously outlays for defense skyrocketed to cover costs of wars in Iraq and Afghanistan. Additionally, banks were on the edge of failing due to unregulated real estate speculation and massive derivative losses.
Today the Congressional Budget Office is reporting a $200B decrease in the deficit almost entirely due to increased revenue from a growing economy and higher taxes on the wealthiest Americans. The deficit is now only 4% of the GDP, down from over 10% at the end of Bush’s administration – and projections are for it to be only 2% by 2015 (before Obama leaves office.) America’s “debt problem” seems largely solved, and almost all due to growth rather than austerity.
We can largely thank a fairer tax code, improved regulation and consistent SEC enforcement. Also, major strides in health care reform – something no other President has accomplished – has given American’s more faith in their future, and an increased willingness to invest.
That means in the 80's and 90's as they went from being aged 34 to 16 to be aged 54 to 36 they borrowed and spent a ####load of money into the economy. All dollars are borrowed into existence, so this produced easy natural inflation in order for everyone to get richer on the assets they owned.
From the tipping point of 2000 to 2008 the baby boom generation began to be in "payoff and sell" mode. When debt is paid off, money is extingusihed. This was producing natural deflation. By 2008 it was so bad people were blaming banks and governments for bad lending and bad policies. We've been on quantitavite easing (QE) ever since. QE is articificial inflation to offset the natural deflation of the baby boom. It's essentially life support for the US dollar.
The point is, whoever is in the White House has nothing to do with this. It's comprised of two things: 1) the demographics of the country; and 2) the policies of the Federal Reserve. The only thing the president has to do with that is naming people to the 7 seats of the Federal Reserve board of directors that are not filled by the presidents of each Federal Reserve bank. All of the tax policies, regulations and programs have little impact in the grand scheme of things. In the past they had a lot more influence, but as the US dollars use around the world increased over the past 50 years, the president's economic influence decreased. US economic policies are now a fraction of influence on the US dollar.
The 80's and 90's were great, not because of Reagan and Clinton, but because of where the baby boom generation was in their lifecycle of spending. The 00's and 10's suck, not because of Bush and Obama, but because of where the baby boom generation is in their lifecycle of spending. The 20's might even be worse given the SS and Medicare entitlements that generation will get. The Federal Reserve will continue QE as long as they can, but QE has it's own issues if it's done too long. The main issue being the other countries using the dollar don't like having to be exposed to QE due to our soverign demographic issue. China and Russia are commited to a new international currency to replace the dollar because of the need for longterm QE domestically in the US.
That's when I am planning my run. Just biding my time.Sounds like a good time to be the president then.Unless things have changed demographically we will have the youngest workforce in the industrialized world by the 20's. If the economy doesn't suck we will be in a pretty good place.
All of the runs after those 3 are.When it cones to Iraq, Obama is like the relief pitcher forced to come in with the bases loaded and nobody out. Even if Obama doesn't pitch very well (and he hasnt) and gives up runs, those aren't his runs.
At least I know when to use "you're", Einstein.Hot Diggity Dog said:Surely your not this stupid?Otis said:Can we thank him for being the best economic president ever?
http://www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/
Otis alias?At least I know when to use "you're", Einstein.Hot Diggity Dog said:Surely your not this stupid?Otis said:Can we thank him for being the best economic president ever?
http://www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/
That's a nice chart. Problem is that it doesn't show gas prices for the next week or a month from now.
You only bought one gallon of gas? Shoot the lid off the wallet and buy two next time.Just got a gallon of gas here in Northern Va. for $2.87.
I'm not FBG's rich ya knowYou only bought one gallon of gas? Shoot the lid off the wallet and buy two next time.Just got a gallon of gas here in Northern Va. for $2.87.
Damn States' Rights.Still $3.49 in Pittsburgh -- frigging PA taxes
Why did Obama give the states rights?Damn States' Rights.Still $3.49 in Pittsburgh -- frigging PA taxes
He's probably been harboring the disease since his birth in Africa.
True,I can't wait for The Republicans to take control of Congress. They'll get rid of Ebola AND these low gas prices.
3.19? Was driving through western Michigan and gas was $2.71.$3.19. THANKS OBAMA! You da man!
You think $2.90 would be a bargain? Because that's what it would be without taxes.Still $3.49 in Pittsburgh -- frigging PA taxes
How far do you get on 1.712 gallons now days?Do I get to thank him for 2.92 unleaded I put in this morning?
in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
Good story.In 2000 the baby boom generation was aged 54 to 36. This was the tipping of their "borrowing and buying" portion of their generation.
That means in the 80's and 90's as they went from being aged 34 to 16 to be aged 54 to 36 they borrowed and spent a ####load of money into the economy. All dollars are borrowed into existence, so this produced easy natural inflation in order for everyone to get richer on the assets they owned.
From the tipping point of 2000 to 2008 the baby boom generation began to be in "payoff and sell" mode. When debt is paid off, money is extingusihed. This was producing natural deflation. By 2008 it was so bad people were blaming banks and governments for bad lending and bad policies.
Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
Yeah, those roads in California sure are looking great, what with having the highest gas tax in the country and all!!!Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
Effin Taxaschussetts.3.19? Was driving through western Michigan and gas was $2.71.$3.19. THANKS OBAMA! You da man!
California gets a C in infrastructure ranking from the ASCE. Lot of states which that did that well. As a country we need roughly 4 trillion in infrastructure investment to get things where they should be.Yeah, those roads in California sure are looking great, what with having the highest gas tax in the country and all!!!Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
WINNING!!!!!Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
Seriously? Drive 20 minutes north where it's $3.15.Still $3.49 in Pittsburgh -- frigging PA taxes
Sounds like it is time to cut education funding again IMO.Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
Let the bears pay the bear tax. I pay the Homer tax.Sounds like it is time to cut education funding again IMO.Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
Well they are at 46 out of 50 in funding. Got to bring that number down so businesses will rush in to employ the very cheaply educated.Sounds like it is time to cut education funding again IMO.Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
I'm not sure they can go negative on education though. Outside of York county and the Charleston area, there's not much that could be cut.Sounds like it is time to cut education funding again IMO.Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.
Business is "flocking" to the state because of all the tax breaks....so brutal The list of candidates for office here is downright embarrassing.Well they are at 46 out of 50 in funding. Got to bring that number down so businesses will rush in to employ the very cheaply educated.Sounds like it is time to cut education funding again IMO.Well when your state has the lowest gas tax in the country, crumbling infrastructure and an aversion to raising any other kind of tax something has to give.in the $2.70s here in Rock Hill....until they go and up the taxes. That should be fun.2.99 for regular here in Charlotte. Seems like it drops everyday. Thanks Obama.