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Thread: Economic growth

  1. #31
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    Default Re: Economic growth

    Here is an article that explains the deficit and the pattern of more jobs means lower deficits. Only that's not how it's working this time. Lots of burger flipping jobs, but the deficit continues to rise. I wonder who will be responsible to pay that deficit ? Seems I remember others asking the same questions years ago because then the deficit was a major issue of contention. Not now I guess.

    What Trillion-Dollar Deficit In An Era Of Full Employment Looks Like
    Over the past half-decade, in period of solid—if unspectacular—economic growth and historically low interest rates, the federal budget deficit has been going up. And up. And up.
    That is not how it is supposed to work. In normal fiscal times (if there is such a thing), deficits are expected to rise when the economy slows and fall when times are good. Now, it seems, they rise even when the economy is at full employment.
    There is no evidence that any of those tax cuts significantly improved an economy already nearing (or at) full employment, despite the fervent promises of their backers. Nor have the tax cuts come remotely close to paying for themselves, as some of those same promoters claimed.
    In effect, Democrats and Republicans engaged in a cynical bargain to buy votes. They gave away money they did not have to lavish benefits on constituents who, for the most part, did not need it.

    There are so many examples, but here are just two:
    In December, Congress restored special interest tax breaks to subsidize economic activity that occurred as long ago as 2017. Targeted tax breaks are supposed to create government incentives to encourage specific future economic activity. But in this case, Congress agreed to pay businesses retroactively by restoring expired tax benefits covering activities that occurred two or three years ago.

    President Trump raised tariffs on goods imported from China. The Chinese government responded by imposing new import taxes on US agricultural products such as soybeans. To help mollify the farmers who lost sales to China, Trump opened the federal trough and gave them $28 billion in cash payments and other subsidies. According to one analysis, just 82 agribusinesses got more than half the money.
    The federal debt already is at about 80 percent of Gross Domestic Product and the Congressional Budget Office projects it will reach 100 percent by decade’s end, assuming continued modest economic growth. We have not seen that level of debt since the US was paying off the cost of World War II.
    https://www.forbes.com/sites/howardg.../#60dd623b16e8

  2. #32
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    Default Re: Economic growth

    Here are December's job growth chart. Where all the jobs are that our President has said is all his doing.
    Retail, number 1. With all the brick and mortar stores closing I can only speculate this was temp workers for the holidays.
    Number 2 is hospitality. Another great profession.
    Notice the bottom three, with negative numbers. Manufacturing, transportation and mining.

    Here’s where the jobs are — in one chart
    While overall employment gains were slightly disappointing in December, there were strong job increases in the retail, hospitality and leisure services industries as employers looked to boost payrolls during the peak holiday season.
    The government reported Friday that payrolls increased by 145,000, falling short of the 160,000 estimate economists polled by Dow Jones had forecast. The unemployment rate held steady at a low 3.5%, matching a 2019 level that at the time was the lowest since 1969.
    CNBC studied the net changes by industry for December jobs based on data from the Labor Department contained in the employment report.
    106330622-1578666444698no.2.jpg

    https://www.cnbc.com/2020/01/10/here...one-chart.html

  3. #33
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    Default Re: Economic growth

    Quote Originally Posted by fxstc07 View Post
    Here are December's job growth chart. Where all the jobs are that our President has said is all his doing.
    Retail, number 1. With all the brick and mortar stores closing I can only speculate this was temp workers for the holidays.
    Number 2 is hospitality. Another great profession.
    Notice the bottom three, with negative numbers. Manufacturing, transportation and mining.

    Here’s where the jobs are — in one chart


    106330622-1578666444698no.2.jpg

    https://www.cnbc.com/2020/01/10/here...one-chart.html
    Negative Nellie..

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    Default Re: Economic growth

    I can't look at the term economic growth as something positive. The reason New Penn was sold to Roadway is because...although New Penn was very profitable....changes needed to occur in order for there to be economic growth.

    So....they take stability and a profitable place.....and change everything and put it in debt.
    So much for my desire for economic growth.
    If it works, don't fix it. I much prefer stability, predictability, and stuff that makes sense as opposed to.....all new hocus pocus magic words and theories which just seem to take from some, destroy them, so that others at the top of the industry and market can profit.
    The magic economic growth word....full of mystery only they can understand...and benefit from of course.
    It seems across the board economic growth means cut the pensions, cut the wages, cut the amount of employees, cut the healthcare, increase the work and responsibility on who is left.........the only economic growth happens in the bank accounts and lifestyles of top industry people and the banks themselves.
    Keep the economic growth please.

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    Default Re: Economic growth

    Quote Originally Posted by crazy View Post
    Negative Nellie..
    Just reporting the facts with all those great jobs our President claims he alone has made available to the workers.
    Jobs like burger flipper at Mickey D, hotel room maids, clerks at retail stores ... you know, all those high paying jobs that were promised.

    Job quality study reveals nearly half of fully-employed people make less than $18k a year
    As of this writing, the latest numbers on unemployment in the U.S. report less than 4 percent of Americans are unemployed. While that measure has long been used to indicate a strong economy — and as a frequent bragging point for the Trump administration — it seems this figure might not convey the full picture. Despite full employment, many American workers are barely scraping by. To understand why, we have to look at the quality of those jobs.
    According to The U.S. Private Sector Job Quality Index prepared by Cornell University, the majority of new jobs being added in the U.S. are low-wage and/or low-hour positions. And while that has been a trend for decades, the proportion of low-quality jobs to high-quality jobs has increased dramatically since 1990, to the point that over 60 percent of all new paid and non-supervisory (P&NS) jobs created have been low-wage, low-hour roles.
    In other words, there may be a ton of jobs, but the jobs being created aren't very good, and a significant and growing majority of them do not provide a living wage. The current U.S. minimum is $7.25, or $15,080 per year given a standard 40-hour work week.
    According to the Brookings Institution findings published in November 2019, 44 percent of American workers are living off $18,000 or less a year. And, in addition to being underpaying, the positions have relatively low mobility, meaning they do not often provide opportunities to move up the chain of responsibility and significantly increase their earnings.
    U.S. manufacturing jobs have declined considerably in the last 30 years and they aren't coming back. Instead, they've been replaced with service and support jobs that often provide just under full-time hours so as to be exempt from providing full benefits to the worker, and they are frequently unstable positions.
    https://megaphone.upworthy.com/p/job...8-qCq8ZSqJZ3RY

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    Default Re: Economic growth

    Quote Originally Posted by fxstc07 View Post
    Just reporting the facts with all those great jobs our President claims he alone has made available to the workers.
    Jobs like burger flipper at Mickey D, hotel room maids, clerks at retail stores ... you know, all those high paying jobs that were promised.

    Job quality study reveals nearly half of fully-employed people make less than $18k a year




    https://megaphone.upworthy.com/p/job...8-qCq8ZSqJZ3RY
    That's what they said about Clinton in the 90's with most of his jobs being burger flippers..
    1484-1075 likes this.

  7. #37
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    Default Re: Economic growth

    Quote Originally Posted by crazy View Post
    That's what they said about Clinton in the 90's with most of his jobs being burger flippers..
    I believe the right wing faction has always stated that any jobs created by a democrat were burger flipping jobs.
    Charts and statistics don't lie. Only politicians.

  8. #38
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    Default Re: Economic growth

    Quote Originally Posted by fxstc07 View Post
    I believe the right wing faction has always stated that any jobs created by a democrat were burger flipping jobs.
    Charts and statistics don't lie. Only politicians.
    And some other people I know..
    1484-1075 likes this.

  9. #39
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    Default Re: Economic growth

    Quote Originally Posted by crazy View Post
    And some other people I know..
    You are correct. Like every Trump presidential adviser.
    Were you implying that someone else might have lied ?

  10. #40
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    Default Re: Economic growth

    Quote Originally Posted by fxstc07 View Post
    You are correct. Like every Trump presidential adviser.
    Were you implying that someone else might have lied ?
    You WIN they all lie afterall they are nothing less than being politicians.. Both sides lie.. Get over it..
    1484-1075 likes this.

 

 
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