Fact check: Opening night of the DNC

[Harsh_77 716]

If the stock market is recovering and companies are posting profits and yet the economy is not moving, what would be happening?

Even in the bad times there will always be some company that would be posting profit.

For example companies making survival gear is doing booming business, companies selling the underground bukers are doing booming business they cannot even keep up with the orders... does that mean the economy is doing great?

If you wanna see the economy is doing good than you got to look at the infrastructure, lower unemployment, ppl having enough family time mean lower inflation etc.

[JohnR! 5,495]

Even in the bad times there will always be some company that would be posting profit.

For example companies making survival gear is doing booming business, companies selling the underground bukers are doing booming business they cannot even keep up with the orders... does that mean the economy is doing great?

If you wanna see the economy is doing good than you got to look at the infrastructure, lower unemployment, ppl having enough family time mean lower inflation etc.

The economy will not be doing great for a long while. We have been digging ourselves into this mess for a long time and it will take a long time for us to get out of it.

[I AM NOT THAT GUY 5,715]

The economy will not be doing great for a long while. We have been digging ourselves into this mess for a long time and it will take a long time for us to get out of it.

When will Obama and the liberals stop digging?

[Harsh_77 716]

And nowhere does it mention anything about Obama being responsible for it. Companies do not make these moves over whether the corporate tax rate is 28% as Obama proposes or 25% as Romney proposes. Again, companies have left these shores for decades now. Obama was nowhere near national public office when this trend started and Congress after Congress and President after President has been unable to stop it. And here you want to pin it all on Obama. Weak.

I dont think a company was going to say they were leaving US coz of Obama, you know that and I know that as well.

Companies go to places which favor them.

As a leader not only Obama whoever it is there on top it is his and his administration's duty to keep companies and jobs in US.

The way current president has sent out the message about taxing ppl, taxing corporations is wrong ringing wrong bell.

Weak... yes further and further as more companies go for other grounds it would certainly weaken our economy.

[I AM NOT THAT GUY 5,715]

It continues on the path it was on before Obama took office.

Where was all that change we were promised? Why is Obama repeating all the mistakes of his predecessors?

[JohnR! 5,495]

When will Obama and the liberals stop digging?

I doubt anytime soon. They have a lot to clean up after the crazy economics from the last conservative regime. (I love this bi partisan game. It is completely sophomoric, childish and counter-productive, ergo, a favorite toy of all conservatives.)

[Harsh_77 716]

When will Obama and the liberals stop digging?

When they are on other side in China.......

[SMOKE 1,426]

When will Obama and the liberals stop digging?

1-20-2013

[Usui Takumi 1,562]

On the corporate tax rate issue...here's a crazy idea that avoids the messy issue of tariffs...act like a city might and provide tax breaks for local employment.

Ratchet up rates to 35%. Then give tax breaks to companies based on percentage of global workforce on US soil. Smaller businesses would probably thrive as they would be in the 90-100% range - make their effective rate something like 3%.

Edited September 5, 2012 by Sousuke

[I AM NOT THAT GUY 5,715]

On the corporate tax rate issue...here's a crazy idea that avoids the messy issue of tariffs...act like a city might and provide tax breaks for local employment.

Ratchet up rates to 35%. Then give tax breaks to companies based on percentage of global workforce on US soil. Smaller businesses would probably thrive as they would be in the 90-100% range - make their effective rate something like 3%.

Wouldn't help that many small businesses, as most pay at the individual rates.

ETA: Spell checker hiccup.

Edited September 5, 2012 by The Patriot

[Mr. Big Dog 10,747]

Yes Stock market is recovering there it is not growth.

Come again? The DJIA hovered above the current level for a couple of months back in 2007 at the height of the financial bubble and you are going sit there and say that there is no growth until we surpass these bubble numbers? That is the most ridiculous definition of growth I have heard. By that measure, there was absolutely no growth in the stock markets for the first five years of the Bush administration - none whatsoever. Then there was a short growth period for less than 2 years followed by a massive collapse that not only wiped out all of the gains of the previous two years but also shaved another 25% off the Jan 2001 baseline. Is that your argument?

[Penny Lane 8,159]

Even in the bad times there will always be some company that would be posting profit.

For example companies making survival gear is doing booming business, companies selling the underground bukers are doing booming business they cannot even keep up with the orders... does that mean the economy is doing great?

If you wanna see the economy is doing good than you got to look at the infrastructure, lower unemployment, ppl having enough family time mean lower inflation etc.

You're honestly fooling yourself if you think a Romney presidency will fix the economy anytime soon.

[Usui Takumi 1,562]

Wouldn't help that many small businesses, as most pay at the individual rates.

ETA: Spell checker hiccup.

Wouldn't more decide to incorporate to benefit from a lower rate?

[I AM NOT THAT GUY 5,715]

12,800 is the floor. That is the level needed to officially call it a recovery, without adjusting for inflation. We haven't reached growth yet. These are the lost years. When the DIJA is up another 25%, then we will just be catching up with historic growth.

[kytwell 179]

http://cnsnews.com/news/article/cbo-obama-s-policies-increase-national-debt-47-percent-217-trillion-2022

Congressional Budget Office projects that the national debt under President Obama’s policies will rise to $21.665 trillion by 2022, according to its updated budget outlook.

The updated outlook, released Tuesday, found that current Obama administration policies will result in a 50 percent increase in debt held by the public and a 40 percent increase in intra-governmental debt held in the trust funds of entitlement programs.

“In CBO’s projections, debt held by the public is expected to increase by more than 50 percent between the end of 2011 and the end of 2022, and debt held by government accounts is expected to rise by nearly 40 percent,” the CBO report found.

As a result of this rise in federal debt, CBO projects federal debt will reach $21.7 trillion by 2022.

“As a result, gross federal debt is projected to climb every year from 2012 to 2022, reaching $21.7 trillion in 2022—47 percent more than its total of $14.8 trillion at the end of 2011.”

These projections come under CBO’s so-called baseline scenario, which assumes that all provisions of current law go into effect – including the massive tax increases currently scheduled to take effect in 2013 when the Bush tax rates are set to expire.

CBO’s baseline projection represents the estimated debt incurred by current policy over 10 years, reflecting the fact that government spending commitments continue over several years.

Should Obama win a second term in January, he will leave office with a projected $18.4 trillion national debt – an increase of $7.8 trillion in the eight years Obama will have been in office. The national debt stood at $10.6 trillion in January 2009 when Obama took office.