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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (126215)	11/2/2012 2:00:14 PM
From: bentway	Read Replies (2) \| Respond to of 149317

Our borrowing costs are at an all time, historic LOW, MM. If I could borrow money at 1.47%, I'd be DEEP in debt, paying off older, higher interest loans and financing long term things. blogs.wsj.com

To: RetiredNow who wrote (126215)	11/2/2012 5:35:21 PM
From: sylvester80	Respond to of 149317

With one HUMONGOUS difference. The U.S. can print U.S dollars to help the situation while the Spanish government can not (or for that matter the greek government or Italy or Portugal). That is the main reason why Europe is still in the mess is in, as Germany does not want to print a flood of euros and devalue its currency, while greece, spain, portugal, italy DO, but they can't devalue their currency as long as they stay in the euro.

To: RetiredNow who wrote (126215)	11/2/2012 5:50:36 PM
From: sylvester80	Read Replies (2) \| Respond to of 149317

MUST READ..WSJ-Tallying President Obama’s Jobs Record (remember that Obama took office as the economy was losing 900,000 jobs a month.. if anyone still has any doubt that Obama saved the U.S. from catastrophe, all they have to do is read this - note to Republicans, teabaggers and conservatives, note the trend of government jobs) November 2, 2012, 12:12 PM Tallying President Obama’s Jobs Record By Sudeep Reddy blogs.wsj.com President Barack Obama has spent nearly all of his tenure with a net loss in jobs during his time in office. Now that has changed. The number of jobs is now up slightly since Mr. Obama took office in January 2009. With the latest jobs report, current Labor Department figures show the total number of payroll jobs at 133.8 million, up 194,000 from January 2009. (The president actually topped the hurdle in September, based on the upward revision to that month released today.) Private-sector payrolls are up 759,000 since January 2009. Government jobs are down 565,000 under Mr. Obama’s tenure. The payroll growth is more substantial once the Labor Department‘s annual revisions are taken into account. The preliminary benchmark revision, which takes effect in February 2013, would add 386,000 overall jobs, or 453,000 private-sector jobs, to the payroll count for March 2012. Adding in those revisions, total payrolls are up by 580,000 since January 2009 and private payrolls are up 1.2 million. Of course, presidents can inherit good economic trends and bad economic trends when they take office. President George W. Bush came into the White House with a recession starting in the aftermath of the 1990s tech boom. The economy lost about 2 million jobs in his first year in office. During Mr. Obama’s first year in office, the economy lost about 4.3 million jobs. The economy under President Bush added 1.1 million jobs over eight years based on the total payroll count between January 2001 and January 2009. That number was positive only because the number of government jobs rose during those years. Private-sector employment fell by 646,000 during his presidency. The latest tick up in the unemployment rate, to 7.9% in October, puts it just above the 7.8% in January 2009 when Mr. Obama took office.

To: RetiredNow who wrote (126215)	11/2/2012 9:35:05 PM
From: tejek	Read Replies (1) \| Respond to of 149317

This is only a half truth. You are correct in saying the Spanish gov't didn't live beyond its means...at least not catastrophicly, but it was the Spanish people and the Cajas and Spanish banks who engaged in much of the same risky real estate behavior we did in the US. That toxic debt is now being absorbed by the Spanish gov't. It's the same in the US. The banks and financial industry spun real estate debt and derivatives into monumental toxic assets, which landed on the US balance sheet. Anyone who knows how debt based currency works, knows that this debt creation is the same thing as massive money supply expansion. The wealth created is ephemeral and prone to sudden evaporation. Now the taxpayers are on the hook. Instead of paying it back, we're printing money, which impoverishes the 99% to save the asses of the 1%. In Spain, it's a bit of austerity, which once again impoverishes the 99% to save the asses of the 1%. Your flawed thinking is that you believe that inflation is not a tax, but it is. It's insidious and "not one man in a million can diagnose it" as the cause of their impoverishment. - mindmeld I am curious, MM.......who do you hold to the higher standard......the poor American or Spanish smuck who thought s/he had a chance of owning his/her own home and so signed onto those crappy mortgages that weren't worth the paper they were written on.........or the Republican bankers who knew the mortgages were crap; that the people getting them would not be able to make the payments long term but saw them as a way to increase their bottom lines in the short term?