Is The POTUS Playing Political Chicken Wih the Economic Future Of All Americans?

[NCVol]

I have a pot for sure. That is not the problem. The problem is the people in the photo below want my pot and then some. They keep telling me that if they can tax the rich it will make me feel better that they have taken my pot and then some. My only question is will it bring down the deficit and lower the sky high unemployment?

If you're not part of that group making over 250k, you taxes have gone DOWN, idiot. 

And yes, increasing federal revenues from the generational lows that we're collecting now - about 15% of GDP - will lower the deficit.  It's called MATH. 

And taxes either way on the top 1 or 2% won't have any effect on jobs, because the problem is we're a consumption, service economy, aka a hollowed out shell of our former self, and people who have seen their wages go down, their house value plummet, looking at their jobs going to China, don't have any friking money to SPEND.  So the answer, of course, is to give tax cuts to the demographic that has plenty to spend, and threaten to cut off unemployment as we have nearly 20% of workers unemployed. 

[NCVol]

It's the Obama economy and the Bush economy.  More than anything, it's the economy we get when we pretend that gutting manufacturing jobs, increasing the share of income going to the top 1% while the middle class is devastated, and having no plan from either side to make ANY fundamental change except bail out the bankers forever, is going to produce any kind of meaningful recovery.  There's a reason why I despise Larry "Eight Million Man" Summers, and giving advice that ignores the chart you linked to is just one of many reasons.  He figured we'd be through the worst of it by now, so, no need for any change in direction, let the "markets" work!!, which is why he's worth $8 million for his 10 months of part time work giving advice to hedge funds and speaking to Wall Street a$$holes. 

Nothing but the best and brightest lead this economy

FWIW, the UK paper should have given proper recognition to Calculated Risk who's been producing that chart for years now, updated every month. 

Here's the source.  http://www.calculatedriskblog.com/2010/12/employment-graph-repeat.html

[plumbervol]

When will it become the Obama economy? Will it ever?

Obama did not cause this mess he just inherited it. His problem is that he has done nothing to help the situation. He ran on reform and change and he had an agenda. The problem is that on the way to his innaguration the situation changed, we needed a pres to step up and fix the economic climate. Fixing the economy was not what he ran on so he went forward with his agenda, America got mad and tossed them at midterm. This prez inherited a 30 year train wreck made worse by a useless meaningless two front war and an economy based on non production of any durable goods. To make matters worse you have a bunch of 30 somethings bitching about the greatest generations achievement of winning WWII and surviving the Depression. What they did was create the largest most prosperous economy in modern history that eventually put a Man on the Moon. The boomers followed up with the Electronic Age and the Internet and changes in society that ended American Aparthied and Vietnam. Now we have a bunch of dumbasses that created reality TV shows whining about Social Security... Obama is the poster child for such stupid indulgences as that,

[Maxxgas]

This prez inherited a 30 year train wreck made worse by a useless meaningless two front war and an economy based on non production of any durable goods

I agree. When he's finished we'll have a 34 or 38 year train wreck made worse by a useless meaningless two front war and an economy based on non production of any durable goods.