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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (88287)	7/28/2010 2:46:50 PM
From: tonto	2 Recommendations Respond to of 224749

The politicians are busy not doing their jobs... The outsized tax cuts enacted in President George W. Bush's first term are scheduled to expire at the end of the year, giving Congress the opportunity, in theory at least, to simplify the grotesquely complex tax code, eliminate the problematic Alternative Minimum Tax, broaden the tax base and lower rates without exacerbating the deficit. But that would be the politically hard thing to do. Instead, Republicans and Democrats are delaying action on taxes while they jockey for rhetorical advantage, each side accusing the other of seeking to ruin the economy or further enrich the rich. Given how little time lawmakers have to enact a bill this year, the only options left on the table are to extend some or all of the tax cuts, either permanently or temporarily —or let them all expire. Although neither side wants to go that far, partisan gridlock in the Senate make it a real possibility. The foot-dragging adds another layer of uncertainty and risk to the economy in the near future, making employers even more wary about increasing their payrolls. That's the last thing this country needs as it struggles to grow its way out of the deepest recession since the Depression. With the economy expanding but unemployment remaining stubbornly high, lawmakers need to promote growth. Granted, that involves far more than just tax policy, and it's as much an art as a science. Businesses and consumers respond to emotional currents as well as checkbook realities. Tax decisions by Congress that increase the deficit may just increase the public's anxiety about the burgeoning national debt. But government belt-tightening could also backfire, slowing the economy and promoting pessimism among consumers and business owners. A survey released Tuesday showed consumer confidence at its lowest level since the recession hit, and recent data on prices have more economists warning about a dangerous cycle of deflation.

To: Kenneth E. Phillipps who wrote (88287)	7/28/2010 3:05:45 PM
From: Sedohr Nod	3 Recommendations Respond to of 224749

I remember Greenspan talking about budget cuts as a better way of solving some of our problems, but that there was no constituency for that approach at the time.....Times have changed. You are also on my list as a pro "baseline budgeter" and therefore a cancer to the country, along with most in nearly all forms of government.

To: Kenneth E. Phillipps who wrote (88287)	7/29/2010 12:22:07 AM
From: Hope Praytochange	Respond to of 224749

U.S. economic activity rose only modestly in June and the first half of July, the Federal Reserve said in a report Wednesday, in another sign that the recovery may be running out of steam. In its latest beige book report, the Fed said economic conditions continued to improve in most of its 12 regional districts, but the advances were modest, with retail sales posting only small gains and housing and construction remaining weak. Bank lending, meanwhile, was still tight. The Fed said overall activity was broadly flat in the Cleveland and Kansas City districts compared to the previous beige book, while Chicago and Atlanta reported that the pace of economic activity recently slowed. The Atlanta district -- which includes Alabama, Florida, Georgia, and portions of Louisiana and Mississippi -- noted concerns about lower leisure travel to the Gulf Coast. However, economic data for June have pointed to a possible slowdown, especially in consumer spending and in an already weak housing sector. The beige book is a summary of economic activity prepared for use at the U.S. central bank's next policy-setting meeting Aug. 10. The latest report, prepared by the Federal Reserve Bank of St. Louis, examined economic conditions across the Fed's 12 districts based on information collected on or before July 19. In its previous report, released June 9 and referring to May and April, the Fed said economic activity had improved across all of its 12 districts. At their last meeting June 22-23, Fed officials trimmed their forecast for U.S. economic growth, citing the deterioration in financial markets that followed Europe's sovereign debt crisis. Last week, Chairman Ben Bernanke warned there was "unusual uncertainty" over the economy's outlook. He told Congress the Fed, which has already slashed interest rates close to zero, was ready to take further measures to support the economy if necessary. The U.S. economy shed jobs in June for the first time this year and the unemployment rate remained high, adding to concerns that the pace of the recovery could slow in the second half. The number of U.S. workers filing new claims for unemployment benefits jumped in the July 17 week, the latest week for which data are available, reversing declines posted the prior week and signaling there is still little improvement in job-market conditions. idiot odumba liar