Housing market, economy still deep in a post-binge hangover
Yesterday’s housing news — a July decline of 27 percent in sales of existing housing, about twice as deep as predicted — added to the sense that the economic recovery has stalled. A big part of the decline can be explained by the fact that federal tax subsidies for homebuyers ended in June. People who wanted or needed to buy a home had jumped into the market earlier, while the $8,000 tax credit was still in effect, leaving demand in July to collapse.
The fact that housing prices nonetheless rose slightly last month over a year ago, suggesting that the prices being demanded by sellers still have not come into balance with the prices that buyers are willing to pay.
(On a side note, the Christian Science Monitor has identified six cities in which housing prices are actually rising. Atlanta is not among them. In the healthiest housing market in the country, median prices actually rose 17 percent in the second quarter of 2010 compared to a year earlier. So load up your U-Haul, folks, and shuffle off to Buffalo, NY!)
Realistically, there’s not much that anybody can do to reverse the national trend. The well-intended housing credit, for example, did little more than delay the necessary correction between supply and demand. We are experiencing the inevitably painful hangover that follows a major housing binge, a disaster created by a combination of greed, corruption, bad government policies and willful, eager ignorance by almost every party involved, as the chart below illustrates.
H/T The Big Picture (http://www.ritholtz.com/blog/)
Also yesterday, the Congressional Budget Office released its latest, legally mandated estimate of the effect of the Obama stimulus package on the economy through the second quarter of 2010. As bad as things are, the CBO found, they would be a lot worse without the stimulus.
According to the CBO, the stimulus package:
Raised the level of real (inflation-adjusted) gross domestic product (GDP) by between 1.7 percent and 4.5 percent, Lowered the unemployment rate by between 0.7 percentage points and 1.8 percentage points, Increased the number of people employed by between 1.4 million and 3.3 million, Increased the number of full-time-equivalent (FTE) jobs by 2.0 million to 4.8 million compared with what those amounts would have been otherwise. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.)
The CBO also updated its estimate of the stimulus package’s impact on the debt, estimating that it will add $819 billion through 2019. For comparison’s sake, another CBO estimate last week put the cost of the Iraq War at $700 billion between 2003 and 2010, a number that does not include interest costs.
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472 comments Add your comment
USinUK
August 25th, 2010
11:22 am
man up, I’m here …
I’d say you were whining like a little girl, but that would be an insult to little girls everywhere.
I'm here from the Government and I'm here to help!
August 25th, 2010
11:22 am
Saul Good
August 25th, 2010
10:45 am
Bruno@10:25am… At this same time in Reagan’s first term…he was dealing with the same bad poll numbers that Obama is dealing with.
Saul, it’s 2010! Welcome!
Granny Godzilla
August 25th, 2010
11:23 am
oh and thomas
this is a lie
“you are unable to say anything contrary or negative about this administration and/or presidency”
i suggest again you have a problem with honesty
I'm here from the Government and I'm here to help!
August 25th, 2010
11:24 am
USinUK
August 25th, 2010
10:50 am
“Neo-Cons
Your a racists too? Please say it isn’t so!
@@
August 25th, 2010
11:25 am
Saul:
You only have to look towards Venezuela for the evidence. Hugo is touted by many leftists as a champion of the oppressed. He’s an idiot, whose ideology is slowly and methodically doing that country in.
From socialist to dictator.
Southern Comfort
August 25th, 2010
11:26 am
Keep
Most of the places I frequent with tv’s usually have sports on. CNN has the airport locked down. If it’s not the local news, I’ll listen to CNN. I’ll surf Fox online though.
Normal
August 25th, 2010
11:27 am
@@
August 25th, 2010
11:19 am
No @@, I have nothing against Blacks, in fact I like most of them better than Whites. And I might reconsider renting to Hispanics. I’d
probably prefer renting to Middle Easterners…
But seriously folks, I do have some rental properties and I do rent to Hispanics. As a general rule, they respect the property more and therefore take better care of it. One family re-roofed my rental and
trusted me to remit. Yeah, I like me some Hispanics…
Mick
August 25th, 2010
11:27 am
** I MISS BUSH and all his honesty.**
Uh, this is a man who LIED us into war causing the death and destruction of hundreds of thousands of people. Unfortunately, that is a sad reality.
I'm here from the Government and I'm here to help!
August 25th, 2010
11:28 am
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be completely voluntary,
No longer Voluntary
Saul Good
August 25th, 2010
11:28 am
USinUK
August 25th, 2010
11:22 am
hehe
I'm here from the Government and I'm here to help!
August 25th, 2010
11:29 am
2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program,
Now 7.65% on the first $90,000
USinUK
August 25th, 2010
11:29 am
I’m here –
diddums, you might want to scroll up to read the prior post … you’d see I was adapting another blogger’s quote.
as for subprime borrowers, well, here are some more facts I’m sure you’ll conveniently ignore:
To examine the surge in subprime lending, the Journal analyzed more than 250 million records on mortgage applications and originations filed by lenders under the federal Home Mortgage Disclosure Act….the data contradict the conventional wisdom that subprime borrowers are overwhelmingly low-income residents of inner cities. Although the concentration of high-rate loans is higher in poorer communities, the numbers show that high-rate lending also rose sharply in middle-class and wealthier communities….
http://www.nakedcapitalism.com/2007/10/journal-on-demographics-of-subprime.html
Jimmy62
August 25th, 2010
11:29 am
Mick:
Please name the lies you are referring to.
I'm here from the Government and I'm here to help!
August 25th, 2010
11:29 am
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
No longer tax deductible
I'm here from the Government and I'm here to help!
August 25th, 2010
11:30 am
4.) That the money the participants put into the independent ‘Trust Fund’ rather than into the general operating fund, and therefore, would only be used to fund the Social Security
Retirement Program, and no other Government program, and,
Under Johnson the money was moved to the General Fund and Spent
I'm here from the Government and I'm here to help!
August 25th, 2010
11:30 am
5.) That the annuity payments to the retirees would never be taxed as income.
Under Clinton &Gore up to 85% of your Social Security can be Taxed
Bruno
August 25th, 2010
11:31 am
“Bruno, I see you are taking credit for this morning’s subject.”
Dusty– From last night:
http://blogs.ajc.com/jay-bookman-blog/2010/08/24/our-extremists-gingrich-et-al-boost-islamic-extremists/comment-page-2/#comment-380322
“Perhaps you should blog on the business page with your business projections. Nobody else seems to know what is going on.”
Not really–
http://blogs.ajc.com/jay-bookman-blog/2010/08/24/our-extremists-gingrich-et-al-boost-islamic-extremists/comment-page-2/#comment-380345
“I also looked at my new health insurance costs and it is high enough to make one convulse.”
But that prediction I WILL take credit for, since I’ve been screaming that for more than a year. Unfortunately, Obama and the Dems didn’t listen to Bruno. Fools.
The Leg Lamp is a "major award" much like Cynthia Tucker's Pulitzer and Obama's Nobel.
August 25th, 2010
11:31 am
Keep up the good fight!
August 25th, 2010
11:20 am
I wondered when the “blame Bush” movement would expire. I guess in your world it has already expired because now it’s Fox New’s “fault”. Exxxxxxcellllenttttt!!
RW-(the original)
August 25th, 2010
11:31 am
Please don’t tell me that you consider yourself to be a conservative. I’ve been embarrassed too much the past few weeks by fake conservatives to tolerate any more.–Bruno 9:20 this morning
and
No problem, Saul. I gave up on demanding that the rest of the world see things my way a long time ago.–Bruno 11:17 this morning
My, that was a long time….
I'm here from the Government and I'm here to help!
August 25th, 2010
11:32 am
Q: Which Political Party took Social Security from the independent ‘Trust Fund’ and put it into the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the democrat controlled House and Senate.
———— ——— ——— ——— ——— ——— ——— —
Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democrat Party.
———— ——— ——— ——— ——— ——— ——— —–
Q: Which Political Party started taxing Social Security annuities?
A: The Democrat Party, with Al Gore casting the ‘tie-breaking’ deciding vote as President of the Senate, while he was Vice President of the US
Saul Good
August 25th, 2010
11:32 am
@@… again…I truly thought you would KNOW what a SOCIALIST is…and what a SOCAILIST society is… plain truth. We don’t live in a society any different compared to what it was 20-30 years ago. Want to take away unemployment checks and Social Security checks… medicare and medicaid…go ahead…but true “patriots” like every Republican in office since those things came to be would have to be labeled “Socialists” as well. Which would make Reagan one.
Granny Godzilla
August 25th, 2010
11:32 am
Bush was an equal opportunity liar, he lied about things both great and small
I'm here from the Government and I'm here to help!
August 25th, 2010
11:33 am
AND MY FAVORITE:
Q: Which Political Party decided to start giving annuity payments to immigrants?
A: That’s right!
Jimmy Carter and the Democrat Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democrat Party gave these payments to them, even though they never paid a dime into it!
———— — ———— ——— —– ———— ——— ———
Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!
And the worst part about it is uninformed citizens believe it! If enough people receive this, maybe a seed of awareness will be planted and maybe changes will evolve. Maybe not, some Democrats are awfully sure of what isn’t so.
I'm here from the Government and I'm here to help!
August 25th, 2010
11:35 am
USinUK
August 25th, 2010
11:22 am
man up, I’m here …
I’d say you were whining like a little girl, but that would be an insult to little girls everywhere.
Is that the best you got? ROFL
You a Girly man!
Saul Good
August 25th, 2010
11:35 am
I’m here…(not sure why I’m bothering with you)… but READ what Bruno and I were discussing.
btw…feel free since you’re here..to EXPLAIN how you called the judge in the Utah case (Crosses on the Federal HWY) a LIBERAL ACTIVIST JUDGE..when I pointed out that he was in fact part of a 3 judge panel..all of them nominated by republicans…and the one who wrote the decision? Nominated by Reagan…
Are you EVER going to say you “made it up” and had no idea HE was a “Conservative Activist” judge????
Normal
August 25th, 2010
11:36 am
Saul Good
August 25th, 2010
11:32 am
Saul,
With some here, the term “Sunshine Patriots” seem to be the best fit.
Dusty
August 25th, 2010
11:36 am
USinUK
Nothing wrong with my reading comprehension. When I see your ID I know I will get the latest liberal blog blast from the socalled working UK blog fly.
Keep up the good overseas work. Granny Godzilla must be jealous…
Jimmy62
August 25th, 2010
11:37 am
Granny: Your own link, if you bothered to read the whole thing, exonerates Bush for lying. When the context and facts are considered…. He never said he would never play golf again. Hmmm… Maybe this is a sign you switched sides and are defending Bush? Or maybe it’s a sign that you link to stuff you don’t even bother reading?
I'm here from the Government and I'm here to help!
August 25th, 2010
11:37 am
Mick
August 25th, 2010
11:27 am
** I MISS BUSH and all his honesty.**
Uh, this is a man who LIED us into war causing the death and destruction of hundreds of thousands of people. Unfortunately, that is a sad reality.
Only in your little mind. Read the REAL history of 9/11 written by the 9/11 commission. IRAQ had Poison gas and over 550 metric tons of Uranium. No Biggie, in you eyes! BS!
USinUK
August 25th, 2010
11:38 am
i’m here – 11:35 – dude. seriously?
you’re totally contradicted with evidence and you’re not man enough to acknowledge it.
paaaaaaaaaaathetic.
Bosch
August 25th, 2010
11:40 am
“Maybe “for profit” health care is the real culprit.”
If paramedics do CPR and it doesn’t work, do you think they should charge for it – to the tune of $538? Discuss……..
I'm here from the Government and I'm here to help!
August 25th, 2010
11:41 am
Granny Godzilla
August 25th, 2010
11:32 am
Bush was an equal opportunity liar, he lied about things both great and small
Sorta like you ctucker hiding behind Granny Godzilla
The Leg Lamp is a "major award" much like Cynthia Tucker's Pulitzer and Obama's Nobel.
August 25th, 2010
11:41 am
Granny Godzilla
August 25th, 2010
11:32 am
You mean an equal opportunity liar like
“I did not have sex with that woman, Miss Lewinsky,…….”
“I tried marijuana once. I did not inhale.”
Keep up the good fight!
August 25th, 2010
11:41 am
Leg lamp…you must have shorted out. Why don’t you look at the post of your comrades who bring up the dead (Johnson, Roosevelt) as well as Clinton and Carter. Did you inform them that the statute of blame limitations had expired there? Seems the whining from the right continues and the “you’re blaming him, its been x days” crybabies are still out there. Why does the right love to play the victim card….oh by the way, your way over your account limit on that card!
USinUK
August 25th, 2010
11:42 am
“When I see your ID I know I will get the latest liberal blog blast from the socalled working UK blog fly”
so says one of the Bloggsy Twins who malingers here at all hours of the night and weekend, yet criticizes others who just spend a few hours during the day.
laugh flippin riot.
Sick of Repubs
August 25th, 2010
11:42 am
@I’m here from the government….
The President has appointed a commission to study ways to reduce the deficit, but the only thing anyone is hearing from this commission (they meet in secret) is that they are going after Social Security instead. For this reason it has become known as the “Catfood Commission” instead of the “Deficit Commission” because any reductions in benefits will force so many older Americans to eat catfood instead of more expensive human food.
Congress should preempt the commission from targeting Social Security by making it clear that they will not accept cuts or an increase in the retirement age.
Social Security cannot legally borrow, so it is not possible for it to add to the deficit at all. In fact it is entirely self-funded and has a huge surplus. But Presidents Reagan and the Bushes borrowed from Social Security to give those huge tax cuts to the rich, and the money is coming due. This is the reason Social Security is the focus of the commission instead of the things that actually caused the deficits and debt. They are trying to find ways to avoid having to pay that money back to Social Security. Congress should tell the commission to look at the real causes of the deficits and debt and not at Social Security which does not contribute to deficits and debt.
Saul Good
August 25th, 2010
11:45 am
Normal
August 25th, 2010
11:36 am
Shhhh! Don’t tell them! That goes against their “patriotism”…. blind as it may be and as bad for our nation as it may be… yups… let’s see which one googles it first to see what it means and who coined the term.
Normal
August 25th, 2010
11:45 am
aul,
In case you didn’t know…but if you did, then it can educate others…
http://www.veritasrex.com/veritas_rex/2010/07/will-social-conservatives-be-sunshine-patriots.html
I'm here from the Government and I'm here to help!
August 25th, 2010
11:45 am
USinUK
Your totally full of shyt and I know it. Obama’s going down period. His policies are a FAILURE, acknowledged by his own party.
You care to put you money where your little mouth is, son?
Bruno
August 25th, 2010
11:45 am
@@ from 8:13 PM last night:
“You don’t have as great an impact on me as you’d like to believe.”
RW from 9:31 PM last night:
“Whether you blog or not is meaningless to me.”
For two people who don’t care whether I blog or not, you seem to spend a good bit of time responding to me trying to get your digs in. Now I know how AmVet feels.
Bosch
August 25th, 2010
11:47 am
“USinUK
Your totally full of shyt and I know it. ”
Looks like someone needs a nappy.
Dusty
August 25th, 2010
11:47 am
Saul Good,
It is indeed good that you posted a short one. I don’t usually read your lengthy literati.
Sooooooo…George W. Bush was dishonest. The CIA was dishonest. The Congress of the USA (including Democrats) was dishonest. British Intel was dishonest. Prime Miister Blair was dishonest. You must have a busy time pointing fingers at everyone except al Queda, dictators and others who hate Americans. Why do you always forget them in your haste to discredit George W. Bush. Fortunately, he did not and we have had safe years..
Now try to remember: Most Americans support our military and their objectives. Try it. You’ll like it.
Bosch
August 25th, 2010
11:48 am
Hey Dusty!!
I'm here from the Government and I'm here to help!
August 25th, 2010
11:50 am
Iran shows missile, says is friend to neighbors
“Here’s the 357 I’m going to kill you with but I did love you, neighbors”
Keep up the good fight!
August 25th, 2010
11:50 am
UsinUK….is your dad posting as “I’m here”? I thought he was senile…well at least the poster/poser is…now your dad, I hope he is well!
Normal
August 25th, 2010
11:50 am
If social conservatives are adament about turning the America as we know it, into a Christian Only nation, how are they any different from the Taliban? Same Ideology, different methods, is all.
Rightwing Troll
August 25th, 2010
11:51 am
“@@
August 25th, 2010
11:08 am
Rightwing Troll:
I was opposed to Bush’s TARP, and I’m opposed to Obama’s stimulus.
Have I made my position clear enough for you? The majority of Americans are opposed to excessive government spending. That’s why the Republicans were given the boot in 2006.”
Yes, but where were you for 6 years as your kindred souls were creating situations that created the need for tarp and stimulus funds?
Were you over there with Andy and Dusty screaming HARDER… FASTER…?
I'm here from the Government and I'm here to help!
August 25th, 2010
11:51 am
Bosch
Notice you dodged the wager part. What a man!
USinUK
August 25th, 2010
11:51 am
I’m here –
“Your totally full of shyt and I know it.”
ohfercryingoutloud … would you please learn the difference between your and you’re. here’s a hint: your posts make you look like you’re ignorant.
secondly – “Obama’s going down period. His policies are a FAILURE, acknowledged by his own party.”
2 years is a long time. we’ll see.
“You care to put you money where your little mouth is, son?”
Saul Good
August 25th, 2010
11:51 am
Normal,
I have seen that before… hopefully others that NEED to see it…WILL do just that.
Bosch
August 25th, 2010
11:52 am
I’m here…..
What? If you are referring to the other day at CT’s — that was the resident namejacker who had namejacked me and I don’t even know what y’all were wagering.
I'm here from the Government and I'm here to help!
August 25th, 2010
11:52 am
Keep up the good fight!
Notice you dodged the wager part. What a man!
USinUK
August 25th, 2010
11:52 am
Bosch – “Looks like someone needs a nappy.”
I was going to say an adjustment to his meds … but a nap is probably a good start.
RW-(the original)
August 25th, 2010
11:53 am
Bruno,
Whether you blog or not IS meaningless to me, but as long as you DO blog where I happen to be and you make the claims you do about real versus fake conservatives then as a conservative I’ll point out what a phony you are.
I'm here from the Government and I'm here to help!
August 25th, 2010
11:53 am
USinUK
Notice you dodged the wager part. What a man!
Keep up the good fight!
August 25th, 2010
11:53 am
Oh Dusty…the “he kept us safe” garbage? Except that he didn’t. 9/11, anthrax, shoe bomber…..etc. etc….when does the recycling of lies stop?
Bruno
August 25th, 2010
11:54 am
“yes. let’s bet. money. on a blog. where everyone is anonymous. now, are you feeling all manly and stuff??”
Well, I’ll bet you a million blog dollars that the Dems are going to lose big this November and that Obama will be a one-termer. I’ll even give you 3-1 odds.
Bosch
August 25th, 2010
11:54 am
Keep up the good fight!
Pssssst. [Waving hand for you to come over] Do you know what this dude is talking about?
Rightwing Troll
August 25th, 2010
11:54 am
And now that you all are on the verge of seeing your collective wet dream come to fruition, Obams’s utter failure and a swing back to power for the hate baggers, what will you do now?
Hint: I’m looking for something new and original, not recycled GOP planks… Both parties are now complete failures, I’m fine with giving all incumbents the boot, but I know that won’t happen as everybody sees everybody ELSE’S representattions as flawed…
Gammer
August 25th, 2010
11:55 am
Granny-
This whole “you fell for that?” comment might hold a bit more water if you managed to cite anything other than Huffington Post.
Dusty
August 25th, 2010
11:55 am
Did you just get up from YOUR nappy, BOSCH? Wow! A bad word!
But your assumptions are correct. Liberals are the only ones allowed to use “bad words”.. At least, I think so. They are the only ones never moderated for being “naughty”.
Southern Comfort
August 25th, 2010
11:56 am
I can see the beginning of the circular vortex forming in the porcelain bowl…
Now is as good a time as any to back away from the keyboard and monitor. See y’all later on when everyone’s meds kick in.
I'm here from the Government and I'm here to help!
August 25th, 2010
11:57 am
USinUK
It can be set up real easy via a third party. As long as the winners donates all winning to a legitimate charity its’ not illegal.
Does everything have to be done for you or can you at least wipe you ass?
USinUK
August 25th, 2010
11:57 am
I’m here – “Notice you dodged the wager part. What a man!”
ohmygod – what are you? 7? or just clearly in need of mood stabilizers?
Rightwing Troll
August 25th, 2010
11:58 am
“Does everything have to be done for you or can you at least wipe you ass?”
Does that make you feel better Dusty?
Saul Good
August 25th, 2010
11:58 am
Dusty…yet they were ALL dishonest…and… CONGRESS did NOT furnish the reports… they read the reports furnished by WHOM??? Bush, Cheney, Rummy, and the rest of the neo-cons who had a plan for Iraq before they even got into office. Do they share some blame for being suckered in? Yup…But it does not remove what you said above. That BUSH (and you were talking about HE)…is an HONEST man. HE said what he did… and HE lied. He lied to our congress, our citizens, and the rest of the world.
Tell me again how BUSH IS/WAS “HONEST”…because THAT is what you said..and THAT is what we were talking about. Blaming others does NOT take away from the fact that BUSH lied and was in fact DISHONEST.
Dusty…I’ll ask of you again…was BUSH “honest”??? (ONLY he that we speak of for the moment).
NO…he was NOT.
Keep up the good fight!
August 25th, 2010
11:58 am
Bosch…I think he refers to his 11:45 and somehow the meds have not kicked in and he believes he can gamble here and made a challenge to everyone who wants to take him up on it. Of course its not very clear what the “bet” is about….maybe Obama’s going to lose in 2012? Or maybe its the “wave” coming in November.
@@
August 25th, 2010
11:58 am
Saul:
Want to take away unemployment checks and Social Security checks… medicare and medicaid
Eventually, yes!
I certainly don’t wanna empower government to build votes upon those who would become dependent.
Hugo’s down there attempting to nationalize, regulate, control anything that doesn’t move in the direction he demands. Does this sound familiar to you?
<a href="President Hugo Chavez expressed optimism Sunday that Venezuela is about to emerge from a recession, even describing its oil-dependent economy as robust.
Chavez suggested state television should broadcast a series of programs focusing on the strength of the economy as a way to debunk what he called erroneous predictions from analysts of more economic problems on the horizon.
Rightwing Troll
August 25th, 2010
11:59 am
He needs to wager with Andy… Andy ALWAYS pays off his debts…
I'm here from the Government and I'm here to help!
August 25th, 2010
12:00 pm
USinUK
…and your mouth continues to dodge!
Bruno
August 25th, 2010
12:00 pm
For my blog angel, USinUK, “Too Many Angels” by Jackson Browne:
http://www.youtube.com/watch?v=JSnxS74JE1M
Credit for this one goes to eyes, who played it last Friday night^^^^^
Bring the morning on
Voices sing of day
I want to step out in the morning sun
Through the flood of tears
I want this darkness gone
Your sweet face appears
These apparitions coming one by one
But there’s no end in sight
Only the dead of night
And too many angels
Too many angels
Have seen me crying……
USinUK
August 25th, 2010
12:00 pm
I’m here – 11:57 – what is that, your version of “wanna take this outside”?
freak.
The Leg Lamp is a "major award" much like Cynthia Tucker's Pulitzer and Obama's Nobel.
August 25th, 2010
12:01 pm
Granny Godzilla.
I see you’re still living in the “Bush lied about the war” parallel universe. I guess not only was the US intelligence “lies”, then so was British and Russian intelligence. Recon ol’ W fooled them as well. Even ultraconservative right wing “con” Ted Kennedy said in 2002 “There is no doubt that Saddam Hussein’s regime is a serious danger, that he is a tyrant, and that his pursuit of lethal weapons of mass destruction cannot be tolerated. He must be disarmed.” But alas, the elitists such as GG still say Bush lied. Here’s a few others that W conned. These are the dem senators who voted “yea” on the resolution:
List of Senators who voted in favor of (H.J.Res. 114 )
Alphabetical by Senator Name
Baucus (D-MT), Yea
Bayh (D-IN), Yea
Biden (D-DE), Yea
Breaux (D-LA), Yea
Cantwell (D-WA), Yea
Carnahan (D-MO), Yea
Carper (D-DE), Yea
Cleland (D-GA), Yea
Clinton (D-NY), Yea
Daschle (D-SD), Yea
Dodd (D-CT), Yea
Dorgan (D-ND), Yea
Edwards (D-NC), Yea
Feinstein (D-CA), Yea
Harkin (D-IA), Yea
Hollings (D-SC), Yea
Johnson (D-SD), Yea
Kerry (D-MA), Yea
Kohl (D-WI), Yea
Landrieu (D-LA), Yea
Lieberman (D-CT), Yea
Lincoln (D-AR), Yea
Miller (D-GA), Yea
Nelson (D-FL), Yea
Nelson (D-NE), Yea
Reid (D-NV), Yea
Rockefeller (D-WV), Yea
Santorum (R-PA), Yea
Schumer (D-NY), Yea
Torricelli (D-NJ), Yea
30 dem senators voted “yea”, including those ultraconservative right wing cons like Harry Reid, John Kerry, John Edwards, Diane Feinstein, Chuck Shumer, etal. Yep, the W stands for “wiley”. He fooled them all.
@@
August 25th, 2010
12:02 pm
Oops!
http://www.businessweek.com/ap/financialnews/D9HFHLG00.htm
I'm here from the Government and I'm here to help!
August 25th, 2010
12:02 pm
Stocks are falling after a second straight disappointing report on the housing market and weak durable goods orders added to concerns about the economy.
Thank A Democrat!
USinUK
August 25th, 2010
12:03 pm
Bruno – I love me some Jackson Brown – always thought he was a great songwriter
I'm here from the Government and I'm here to help!
August 25th, 2010
12:04 pm
CSCO Hit a New 52 Week Low at $20.87
getalife
August 25th, 2010
12:05 pm
“He needs to wager with Andy… Andy ALWAYS pays off his debts…”
Ha!
Bosch
August 25th, 2010
12:05 pm
Dusty,
No, I didn’t get my 2nd morning nap in today, I had a few things to do — but did you get a load of I’m here’s 11:57? Talk about bad words…..geez. You see, it’s always been my contention that the traditional “bad words” aren’t really all that bad, other words can be just as hurtful. But anywho……just my observations.
~~~~~~~~~~~~~~~
Keep up the good fight!
Ok, thanks. How……..strange……
I'm here from the Government and I'm here to help!
August 25th, 2010
12:05 pm
43 Dead in Attacks Targeting Iraqi Security Forces
Bruno
August 25th, 2010
12:06 pm
And for IH, who just crossed the line with my blog angel, “One Of These Days” by Pink Floyd:
http://www.youtube.com/watch?v=DQvG2SMVl84
“One of these days I’m going to cut you into little pieces”
thomas
August 25th, 2010
12:07 pm
Granny Godzilla
August 25th, 2010
11:23 am
We will try this then……
How much money did the United States government spend per job they created by the highest side of teh estimation of jobs created?
Dusty
August 25th, 2010
12:07 pm
Poor poor RIGHTWING TROLL
His/her Democratic Dreamboat is sinking and he’s up a creek without a paddle. Doesn’t know where to turn!!
There’s always Cuba & Venezuela, Sir Troll. You’d fit right in. Government rule for every fool. Socialism and communism at its finest. No more worries. Just get up and go to the sugar cane field every morning. . Oh joy!!
Oh ye of little faith. When will you ever appreciate the gifts given to you by so many who sacrificed everythng for this country?
Bosch
August 25th, 2010
12:08 pm
Leg Lamp,
Not sure if you are new here or not, but most of us regulars have said time and time again, that we do not care if they were Dem or not voting for the war — they all shouldn’t have done it — and needed to be slapped for doing so. Although I think Doggone uses the word “treason” for all of them, which, I’m inclined to agree with as well.
Wyld Byll Hyltnyr
August 25th, 2010
12:08 pm
Jay, riddle me this – let’s give Obama the (unrealistic) high-end estimate that porkulus creasted 4.8 million jobs. If the cost is 819.0 billion, then the average cost per job created is $170,625. Let’s present value that ate the current 2.5% rate for 10 yr treasuries under a cash flow scenario must favorable to Obama the full $170,625 is a terminal payment in 2019 rather than a series of payments in the earlier years) which yields a NPV per created job of $136,624. Wouldn’t the economy and real estate market be a heckuva lot better than they are today if we had just given $25,000 to 26.2 million households? Even more so if it were done via a tax cut. The cost isn’t any different. just shows how wasteful porkulus was.
USinUK
August 25th, 2010
12:08 pm
so, wait … according to the LA codicil, if I have more than 2 bloggers attacking me, doesn’t that mean I win the internet?
huzzah!
I'm here from the Government and I'm here to help!
August 25th, 2010
12:09 pm
After posting a loss yesterday, stocks are extending losses today as uncertainty about the economic recovery is rising, with durable goods orders missing estimates, with a measure of capital spending falling
AmVet
August 25th, 2010
12:09 pm
Good morning all.
I see another spirited discussion about the aftermath of the corporate destruction of capitalism. With many predictable responses.
“…excessive government spending. That’s why the Republicans were given the boot in 2006.”
Very true, BUT…that is only one aspect for explaining those nationwide election day annihilations of the neo-cons in 2006 and then again in 2008. There are numerous other equally imperative reasons of course, but shhhhh! We don’t discuss those in mixed company, LOL…
Hey Scout, when you come back, you can provide that list of names of liberals who hate the troops! I can’t wait to see who’s on it!
I'm here from the Government and I'm here to help!
August 25th, 2010
12:10 pm
The more the American people have learned about Obamacare since it was passed the more they dislike it. And with good reason. Here is a list of some recent surprises buried in the 2,300 pages of legislation.
Beginning in January 2012, businesses are required to file with the IRS for every business to business transaction over $600. This includes all transactions, not just health based ones. (Section 9006).
A new program (the Community Living Assistance Program) was established that is woefully underfunded by the bill and will eventually require much more money than allocated. (Section 8002).
As of January 2014, states must expand Medicaid coverage to all individuals under the age of 64 with family incomes at or below 133% of the federal poverty level. States already do not have the resources to provide adequate Medicaid coverage and this law will add millions more to Medicaid rolls. (Section 2001, as modified by 10201 and H.R. 4872; Sec. 1004 and 1201).
Beginning January 2011, individuals are not allowed to use Flexible Savings Accounts, Health Reimbursement Accounts, and Health Savings Accounts to purchase over-the-counter medicines. The law also caps annual contributions at $2,500, down from $5,000. Many Americans (especially younger ones in relatively good health) rely on FSAs, HRAs, and HSAs to help pay for healthcare. This law makes these consumer-oriented tools that encourage smart shopping less convenient and provides a perverse incentive for individuals to buy expensive prescription medicine instead of over-the-counter alternatives. (Section 9003).
Verizon, AT&T, Caterpillar and other companies publicly acknowledged that the tax structure of the new law actually encourages companies to stop providing coverage for their employees beginning in 2014. (Section 1003).
stands for decibels
August 25th, 2010
12:11 pm
according to the LA codicil, if I have more than 2 bloggers attacking me, doesn’t that mean I win the internet?
Based on what one sees in this thread, do you really want it?
@@
August 25th, 2010
12:11 pm
I think I’ve got it figured out…too many left-wingers suffer from ADD.
Online conversations bounce from early morning Scout, to “A Christmas Story” with intermittent music offerings. Left-wingers’ hollow point bullets bouncing around.
Gator Joe
August 25th, 2010
12:12 pm
Jay,
First don’t confront the Right, Conservatives, Republicans with facts. Especially facts that come from reliable sources rather than Fox, Beck, Limbaugh or any other arms of the Right Wing propaganda machine. Additionally, the damage caused by Bush and the Republicans during their control of the White House and Congress cannot be corrected within four, or perhaps even eight years. The destruction of the US economy, of the public education system, and the increase in poverty (cheap labor) begun under the Republicans will continue should they be allowed to occupy the presidency or the Congressional majority.
kayaker 71
August 25th, 2010
12:13 pm
What do you do as a Democrat to keep your voter base when it might be wavering a bit? You offer to give them the ticket to home ownership and as one enterprising Progressive put it, ” to make them as good as all them rich folks”. You then offer them a home loan that they cannot afford or understand when a lot them can barely read, forgo a pesky downpayment which none of them have and give them an interest rate that looks good on paper for the first year or two, but then doubles or triples in a short time, putting the “homeowner” out of the fray as to affordability, if it was there in the first place. If responsible banks don’t go along, you threaten them, just enough to show them that you mean business. Then you put the main burden of these “home loans” on the back of Fannie and Freddie, already billions in the red, and watch their fortunes tank. As it becomes obvious that this is going to be a disaster, you gather together much of this worthless paper and sell it (about this time, CEO Franklin Raines bails with 190M) for a profit to unsuspecting financial institutions backed by the American taxpayer who will ultimately bear the burden for this fiasco. Three years later, Fannie and Freddie, still government run, are asking for another 150B in bailout money and the perpetrators of this dog and pony show, Fwank and Dodd are still in office. Is this a great country or what?
Saul Good
August 25th, 2010
12:14 pm
Dusty:
George W. Bush:
“Intelligence gathered by this and other governments leaves no doubt that the Iraq regime continues to possess and conceal some of the most lethal weapons ever devised.” And, “[Saddam Hussein is] a threat because he is dealing with al Qaeda.” These two Bush remarks go hand in hand, even though the first was said on March 17, 2003, two days before Bush launched the invasion of Iraq, and the other came during a November 7, 2002, press conference. Together they represented his argument for war: Hussein possessed actual weapons of mass destruction and at any moment could hand them to his supposed partners in al Qaeda. That is why Hussein was an immediate threat to the United States and had to be taken out quickly…”
Saddam was dealing with Al Qaeda? Who knew?
“We found the weapons of mass destruction.” Bush issued this triumphant remark in late May 2003, while being interviewed by a Polish television reporter. He was referring to two tractor-trailers obtained by U.S. forces in Iraq. The CIA and the Defense Intelligence Agency had concluded these vehicles were mobile bio-weapons plants. Yet they had found not a trace of biological agents on either. (And no bio-weapon facility could be scrubbed completely clean.) In subsequent weeks, it turned out that State Department analysts and even DIA engineering experts—as well as outside experts—did not accept the CIA and DIA conclusion, and some of these doubters believed the explanation of Iraqis who claimed the trucks were built to produce hydrogen for weather balloons. Whichever side might be ultimately right about the trailers, this all-important piece of evidence was hotly contested. It was hardly solid enough to support Bush’s we-found-them declaration or to justify a war.”
Yups…dem tailors were full of WMD’s and part of a bio-weapons plant….
Dusty… last time I’ll ask (and this is NOT about Obama…it’s about what YOU stated: Bush is an honest man)…
Was Bush an “honest” man…or did he lie?
thomas
August 25th, 2010
12:14 pm
USinUK,
No I have not ever been on unemployment… I have been fortunate enought to remain employed since graduation from college.
Again I ask the same question I asked earlier that remains unanswered.
Do you honestly feel there are none who do abuse the promgram?
Bruno
August 25th, 2010
12:14 pm
Am–Great show out in Alpharetta tonight. Donald Fagen, Michael McDonald, and Boz Scaggs all on one stage.
Bosch
August 25th, 2010
12:14 pm
kayaker,
Do you really think that was all the problem? No GOP deregulation or nothing to go into that mix? Is everything always just the Dems fault? Really?
David S
August 25th, 2010
12:15 pm
Double the 7.65% for EVERYONE. Your employer doesn’t pay the other half, you do. If it weren’t going to the government, it could be going to you. Whether you want to deal with reality or not, the total amount your employer must pay out in wages, SS and Medicare matching, Disability, Unemployment, their share of insurance, liability, and the rest are ALL part of what they consider the cost of each employee. Without all those costs, they could pay you more, or could hire more people.
I'm here from the Government and I'm here to help!
August 25th, 2010
12:16 pm
YHOO Hit a New 52 Week Low at $13.23
INTC Hit a New 52 Week Low at $18.25
Bosch
August 25th, 2010
12:16 pm
“Without all those costs, they could pay you more, or could hire more people.”
Which is why we need single payer now.