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bubbayugga

(222 posts)

61. It's more complicated than that.

Fri Mar 15, 2013, 04:12 AM

Mar 2013

Unemployment exploded because of automation, NAFTA, China's MFN status, and the increases in the minimum wage. retiring babay boomers didn't help either. Lack of regulation in the lending industry and the investment industry then came in to create a perfect storm. When you give millions of sub prime borrowers no down payment adjustable rate mortgages and then bundle those mortgages up into investment packages which you then peddle to the entire world as high yielding investment vehicles and then you send those sub prime borrower's jobs to China and Latin America, things start to unravel.

So, now we have heads of households competing for jobs formerly held by teenagers who needed beer and weed money for college. Awesome. our continued deficits are simply a reflection of our inability to generate revenues through job creation. The need to raise taxes is just a reflection of that.

I really would love to continue this but I have to work.

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Highlight:

President Obama: There Is No Debt Crisis [View all] SunSeeker Mar 2013 OP

A quote you will not see on FoX Propaganda network. liberal N proud Mar 2013 #1

Because... sangsaran Mar 2013 #2

Paul Krugman feels the same way AndyA Mar 2013 #3

Exactly. nt SunSeeker Mar 2013 #4

egg zac lee Botany Mar 2013 #16

Classic Keynes ... Krugman said we did NOT put enough in the stimulus (I totally agree) SomeGuyInEagan Mar 2013 #37

If we ARE a center-left country, Volaris Mar 2013 #42

Totally agree. SomeGuyInEagan Mar 2013 #47

I agree with that.. Volaris Mar 2013 #54

There's a job crisis, and a debt problem, nt geek tragedy Mar 2013 #5

Then why is he offering up Social Security and Medicare for sacrifice? jsr Mar 2013 #6

Probably for laughs. sangsaran Mar 2013 #8

Post removed Post removed Mar 2013 #11

Um... sangsaran Mar 2013 #31

Clearly to make you scream. JoePhilly Mar 2013 #12

yes, we need to wait until they happen to start worrying Skittles Mar 2013 #29

He's Not Skraxx Mar 2013 #18

I just get the impression John2 Mar 2013 #32

So SS cuts are back off the table? Or is this just meant to make people feel better? Fearless Mar 2013 #7

I'm sure some one will get out their Obama secret decoder ring and JoePhilly Mar 2013 #14

Words mean nothing in politics Fearless Mar 2013 #21

How so? JoePhilly Mar 2013 #22

Again, actions are what matters. Fearless Mar 2013 #23

oh f*** all this Skittles Mar 2013 #30

glad to hear his comments, but... Enrique Mar 2013 #9

by the way, this headline seems designed for one thing Enrique Mar 2013 #10

ABC sure is. It posted a picture of the debt clock next to Obama's face. SunSeeker Mar 2013 #13

Well Said! nt sheshe2 Mar 2013 #38

Or granny waiting to retire until age 90. lonestarnot Mar 2013 #40

Does this mean 'entitlements' are off the table? AgingAmerican Mar 2013 #15

And to keep Democrats from the polls in 2014. It worked for the GOP in 2010. freshwest Mar 2013 #27

I think their is a jobless crisis.... midnight Mar 2013 #17

He's right. Leading economists agree. ProfessionalLeftist Mar 2013 #19

He just wants to cut Social Security and Medicare for the hell of it! forestpath Mar 2013 #20

He's right. Igel Mar 2013 #24

"The sky is falling, the sky is falling!!" Guess what, the sky isn't falling! hue Mar 2013 #26

Exactly! Munificence Mar 2013 #58

The budget deficit has been a Repuke/Teapuke nihilistic scare tactic from the get go. hue Mar 2013 #25

"The debt" was cooked up as an issue by Republicans to distract.... Spitfire of ATJ Mar 2013 #28

and for Democrats, cutting future spending on cherished programs like Social Security and Medicare. AlbertCat Mar 2013 #33

Finally!!! It was invented by the goddamn Republicans! santamargarita Mar 2013 #34

The tea people don't care EC Mar 2013 #35

Joe and Mika are gonna have a shitfit tomorrow on Morning Joe! CTyankee Mar 2013 #36

K&R! sheshe2 Mar 2013 #39

he seemed to think there was a debt problem back in 2008-when the debt was only 67% of GDP bubbayugga Mar 2013 #41

There's a big difference between saying we have a debt problem and a debt crisis. SunSeeker Mar 2013 #46

there's a big difference between 67% of GDP and 100% of GDP. bubbayugga Mar 2013 #49

Regardless its still a "problem" and not a "crisis". DCBob Mar 2013 #50

see post #52. bubbayugga Mar 2013 #53

see post #50. DCBob Mar 2013 #55

that was circular. bubbayugga Mar 2013 #56

The issue is what response the problem warrants. SunSeeker Mar 2013 #51

Tomorrow never comes when it comes to dealing with the debt problem later. bubbayugga Mar 2013 #52

How about giving me graphs where the years actually line up? Either way, they prove my point. SunSeeker Mar 2013 #57

The graphs line up fine-look at 2008,2009, and 2010. bubbayugga Mar 2013 #59

Oh for fuck's sake. SunSeeker Mar 2013 #60

It's more complicated than that. bubbayugga Mar 2013 #61

And he's going to get shit on for saying this, despite it being the unvarnished truth. Arkana Mar 2013 #43

The debt may be the only thing that I disagree with people here on. WhoWoodaKnew Mar 2013 #44

I don't think anyone disagrees with you on that. SunSeeker Mar 2013 #45

The debt has been reduced quit a bit... and-justice-for-all Mar 2013 #48