Obama Says U.S. Must Reduce Debt, Spur Job Growth »
Posted By Diane_Steward 3 weeks ago in News
President Barack Obama said the U.S. economy has pulled “back from the brink” and the government must now “get serious” about reducing debt and helping spur job growth.
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Charlson3 weeks ago
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Hard but true facts. The size of our national debt and continuing need for foreign loans and investors make our recovery almost impossible until we attack our debt issue.
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We are the overextended nuclear family that went beyond our means and owe more than we make. We need to cut back on frills and get back to basics and cut our dependence on credit. -
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Justice4All3 weeks ago
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Reducing debt is exactly what we need to do. This can be accomplished by either raising taxes or reducing spending.
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Bush increased spending without raising taxes and look where it got us. Hopefully Obama will cut spending. But I'm not holding my breath.-
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dunkirk3 weeks ago
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He can cut spending and still fund programs. The question is what programs to cut. Do we really need to spend more then twice what every other country in the world spends for defense? What exactly has it gotten us other then $400 toilet seats.
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jordan113 weeks ago
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Hopefully Obama will cut spending. But I'm not holding my breath.>>>>>>
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He recognizes it needs to be cut, but it's the Congress who has the power to do it. If they don't, maybe a little push from their constituents could help. One place that sorely needs spending oversight and a great big independent audit, is the dept. of defense. -
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ICEMAN772 weeks, 6 days ago
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this guy just spent more money in 9 months than every prez combined and you hope he cuts spending if he didnt spen 1 more dime in the next 3 years and 3 months he still would have spent more money than every prez combined and now he whats a health care @850 plus million you know just like every goverment program you can double this number and still wont be close everytime they do anything thier will be massive cost over runs this is a fact
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Hhussk3 weeks ago
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FTA:
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“There’s pretty clear evidence that the decline in the economy has reversed,” said Doerr, citing the Commerce Department report that showed that gross domestic product grew at a 3.5 percent rate in the third quarter. Economic activity, though, “leads job creation, and jobs is our job No. 1,” he said.
I wouldn't use the 3.5% GDP as a resolute indication that we have "reversed" because it is propped up by "Cash for Clunkers", an atificial, one-time program.-
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dunkirk3 weeks ago
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You guys on the right need to make up your mind. Was cash for clunkers a stimulus or not? It sppears you;re sying it was despite the article from another esteemed right winger (who likes to make up sensational headlines) which you propped as saying it didn't stimulate the economy. Which side of the fence are you arguing today?
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ICEMAN772 weeks, 6 days ago
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also the 8000.00 1 time tax credit for 1st time home buyers all the jobs saved in the eco package were all goverment jobs what happens when the money runws out other jobs that were created were 1 year grants what happens when the money runs out
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simonsez3 weeks ago
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Too soon ...
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The 3.5 is not real.
There is much to come. The last quarter will be weak and a dangerous 2010 on the horizon. Tax receipts will be dismal and if ANY of these present bills get through Congress, we will have jumped the shark. -
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Commodore13 weeks ago
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Yes, Obama bin Laden's IQ or lack thereof is clearly showing here. If he had figured this out from the beginning then we wouldn't have the debt. Wasn't it his porkulus bill that created all this mountain of debt to begin with? Yes! What's next? A decision to send 40K more troops to Afghanistan starting in June 2011?
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PatrioticAmerican3 weeks ago
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beavith13 weeks ago
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unfortunately, it does make sense.
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the bust of 1929 happened just like this. first a liquidity crunch that got everyone back on their heels, demand dropped and unemployment rose, and then a run on the market hit in October 1929.
hold onto your a$$. -
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Daylight3 weeks ago
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Unemployment is rising because the economy crashed while Bush in office and now economy is coming out of recession and when it is completely out then those who are unemployed could be employed. Obama inherited a bankrupt government with two wars to fight with so many unfinished business at hand. I think the Democrat may need at least another 2 decades to reverse what has been done to the country. Bush really screwed up everything for America.
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rimbaud2 weeks, 6 days ago
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In Ayn Rand’s libertarian epic “Atlas Shrugged,” Galt, an inventor disgusted by creeping American collectivism, leads the country’s capitalists on a retributive strike. “We have granted you everything you demanded of us, we who had always been the givers, but have only now understood it,” Galt lectures the “looters” and “moochers” who make up the populace. “We have no demands to present you, no terms to bargain about, no compromise to reach. You have nothing to offer us. We do not need you.”
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http://www.nytimes.com/2009/11/01/books/review/Kir...
We are no longer the engine that drives the economy. It's not only unskilled labor that can now be had, for cheap, in the world: there are plenty of highly-educated workers available; and you don't have to go abroad for that labor, either: there are plenty of "offshore resources" who work onshore much of the time.
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rclewis12 weeks, 6 days ago
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Engineer...why is it that everyone that disagrees with the policies of the Obama administration has to be called a "right wing nut"? Many prominent economists and experts disagree on principle and fact. To merely call names is to lose the validity of any argument. Obama has many policies that are merely ill conceived and are being poorly implemented. They have nothing at all to do with Rove, Bush, Cheney, Rush, Hannidy, Beck or otherwise. There are merely wrong, and the proof is in the pudding. No need to call names, sport.
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Daylight3 weeks ago
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"Bush Says U.S. Must Stop War, End Patriot Act"
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He started the wars and someone has to stop them. In fact Bush had no idea about wars he just wanted to please his father by changing the regimes of Sadam, and Taliban.He thought it was a cake walk but he got bog down from no where to go. It was not his idea to go to war but he wanted to follow Ariel Sharone the butcher.
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ICEMAN772 weeks, 6 days ago
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you really got to be kidding me in 10 months this guy has spent more money than every prez combined and now wants to add another trillion in his health care and now he talks about reducing the debt i just cant stop laughing just like when tax cheat ginter went to china and taklked to beijing univ the most prestigious in china and he was talking about fiscal responsability and they just started laughing and could not stop
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Gary7172 weeks, 6 days ago
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I would go with what was said at the end of the article
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rebuild the countries highways and bridges etc. this is needed
( Organized labor is urging Obama to embrace an “ambitious, long-term public investment agenda” focusing on public work projects, Trumka said.
“We’re talking about mid-term and long-term things,” he said. “After the recovery comes, we’re still going to have jobs deficit, we’re still going to have wage stagnation.” “We can’t go back to the bubble economy,” Trumka said.) -
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Gary7172 weeks, 6 days ago
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When clinton left office we were a little over 5 trillion in dept, then when bush left office we were around 10 trillion in dept, the country was in a complete melt down not Bushes fault this was happening before he even came into office just now its can't get any worse, I don't think. now we are almost or about 12 trillion in dept. Obama came into office at bad time.
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damattressmonkey2 weeks, 6 days ago
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mmm reduce spending or raise taxes. obama has increased spending and favors raising taxes. the last democrat we had pr president was clinton. he was much better. but he is the reason out overtime is taxed 33%. democrats = more spending and raising taxes. when will you learn you made history by putting a black man in office. thats great but you also made history in a different way. our country has never had a higher deficit or more government involvment in our day to day lives. it will only get worse. he says we need to reduce spending. funny thing is he is the one doing all the spending with these bailouts that are killing us and our spending our kids futures.
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GWHayduke2 weeks, 6 days ago
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Glad you took the time to register and come aboard jr.
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But if you actually research the facts rather than spouting off inaccurate ideological rhetoric, you'll find that only around 1/10 of the stimulus has been spent.
Be seein you round the threads, jr.
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poorboyvideo2 weeks, 6 days ago
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FACT: All world currencies were put into all of the world's economies through lending.
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FACT: More money is owed back to the treasuries of the world than was loaned out.
FACT: There is no other way to put money into an economy than lending.
FACT: Even if you tap equity or sell an investment that doubled in value, the money you turn it into was loaned out to be in that economy.
FACT: Currency is a scam. A serpent eating it's own tail. You can't get more back than what you loan out.
This is why the banks aren't loaning. They know they'll never get the money back. Trust me, if a bank could make money by loaning it, they would. All the money is about to disappear.
FACT: We need to find a way to have a society with an economy that isn't based on lending.
But how do you put money into an economy without lending it? The welfare programs are paid with borrowed money. Everything the governments of the world do, if they don't cover it with taxes, is borrowed money. The income from taxes is with money that was loaned into the economy. May eternity bless us with the wisdom to overcome these problems. Soon... -
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mhcontain2 weeks, 6 days ago
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What a joke. This clown spent $800 Billion on the joke Stimulus, another $1.4 trillion dollar deficit budget and he talks about reduced spending? He talks about the need for entrepreneurship when he has the government running GM and Chrysler, the banks, and trying to take over health care? The only thing he's right about is the need to increase exports and decrease imports, however what do we have that anyone wants? We also need to get energy independence by building nuclear power plants. This will reduce greenhouse gases and help the balance of trade.
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reallypsst2 weeks, 6 days ago
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You think we can change the system, for every dollar spent on war,bailouts and welfare programs three dollars is diverted to the corrupt political machine,it doesn't matter how you analyze it,the system is geared to keep the money cycle running and supporting the powers that rule it,this corrupt cycle is the slush fund of government,the law makers protect the corruption and ensure its operation,sounds cynical but its true folks !
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lloydm652 weeks, 6 days ago
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Lets go with the democrats,keep unemployment high don't need those people to make ends meet,let raise taxes the producer of wealth,better hurry many of just about ready to suck it up,and live on what they have left.Maybe invest in tax free munnies.Ross Perot said it best in ninety two,if you take all the profits from the fortune five hundred companies,at that time it would have run the country for nine months.Today it would be more like ten days.We need the middle class more today than ever before.I wish I could be sure Obama feels the same way.His actions to date doesn't indicate it
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gsuphan2 weeks, 6 days ago
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He says we must reduce debt while he is pushing the trillion (who even knows how much) health insurance reform act (to use his words). Does one thing, says another.
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He gave us a time certain when Gitmo would be closed (that time will be missed)but cannot give us a time certain when GM will be back in private hands. Quite a mess going on.
The Gitmo prisoners are getting swine flu shots but not most of the U.S. population. Elect a clown, get a circus. -
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rclewis12 weeks, 6 days ago
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FINE, BRILLIANT POTUS! how about some tax relief for small business and investors, and kill off all the social programs that will keep any jobs from getting created...better still...resign your Presidency asap and watch the economy bounce back like a rabbit.
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