In the Rearview, a Year That Fizzled

[ProSense]

In the Rearview, a Year That Fizzled

By DAVID LEONHARDT

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When 2010 began, hiring and consumer spending were finally picking up. But then something changed in the spring — a combination of the debt troubles in Europe, the fading of stimulus spending and the usual caution by businesses and consumers after a financial crisis. By the summer, the unemployment rate was rising again, and Americans’ attitudes about the future were again souring.

Making matters worse, many of the economy’s long-term problems also became more severe this year. Health care costs continued to rise faster than inflation, and the number of uninsured continued to grow. The most recent climate data suggested 2010 would be the hottest or second-hottest year ever recorded; the 10 hottest have all occurred in the last 13 years, creating serious risks for the planet and its economy. The federal budget deficit ballooned further (though it should grow during an economic slump).

The reasons for optimism about 2011 come from both Washington and the private sector. The Federal Reserve and Congress have finally taken more action to lift economic growth, and the latest data — on consumer spending and jobless claims, among other things — has been good. The housing market remains weak, but sales and prices are no longer plunging.

On the longer-term issues, the recent work by President Obama’s bipartisan deficit commission suggested that Democrats and Republicans might eventually find some common ground on the issue. And the health care overhaul passed in March — assuming it survives legal challenges — is likely to cut the number of uninsured sharply and to reduce cost growth modestly. The one issue that offers little reason for optimism is climate change.

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More charts: Snapshots Of the Economy

[meow mix]

1. massive recovery and jobs right around the corner though!!!

same story we been hearing for 10 years, rinse and repeat

[WhiteTara]

2. you know what happens when we turn that corner, don't you?

We run right into a brick wall.

Rinse and Repeat.

[ClarkUSA]

3. Who in this administration has ever said that? Do you have links to quotes?

[meow mix]

4. "recovery around the corner" was used to justify passing tax cuts for the rich

by many including obama and biden.. and that once this recovery was seen and established, we would strongly fight even more to end those tax cuts!! and win!

im not holding my breath however.
and this should be general knowledge to anyone watching the recent tax debates.

[tridim]

5. So, no quotes or links then. Check.

That is what is called an Ass-quote, as in from the.

Do you even know what quote marks mean?

[ClarkUSA]

6. Where is the link to this alleged quote? And that's not what you said in Reply #1.

[meow mix]

7. wow.. were you totally not paying attention during the whole cave-in?

theres mountains of copy on this out there, i hate to do peoples research for them but here ya go

Biden: We'll Make Case in 2012 to Fight Tax Cuts

"The Vice President said he believed that the priority to reduce the ballooning federal deficit coupled with an improving economy should bolster the argument against extending the tax breaks"


http://www.accountingtoday.com/news/-56677-1.html

[ClarkUSA]

8. So far, you have provided nothing that backs up your original claim.

[meow mix]

10. "improving economy should bolster the argument against extending the tax breaks"

the quote is exactly like what i said. you asked for a quote and i provided.

if you cant even discuss something with intellectual honesty i give up talking to you, this is just some kind of wierd game your playing. what a waste of time.

[MadMaddie]

9. Considering U.S. big Corporations hired 1.4 million employees

oh wait...that's right in foreign countries...

http://www.beijingnews.net/story.php?rid=41580795

More than half of the 15,000 people that Caterpillar Inc has hired this year were outside the US.



<snip>
More than half of the 15,000 people that Caterpillar Inc has hired this year were outside the US.

The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the US.
<snip>

Also considering the Republicans stopped legislation to remove the tax incentives corporations get for outsourceing.....

It's worse now than it was 10 years ago thanks to the previous administration...

[Mimosa]

11. U.S. Army Waiting List At Record Level

The economy is so darned bad younger people are on a waiting list to join the Army:

http://abcnews.go.com/Politics/us-army-waiting-list-record-levels-high-unemployment/story?id=12495054&tqkw=&tqshow=WN