State Of The Union

Submitted by: An-egg 3 years ago in



I have no funny. It isn"t funny
There are 32 comments:
Male 8,132
DromEd

"Yeah HG...bring it bitch..

What nothing?

No surprise there."

A day and a half later? Awesome.
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Male 2,468
Yeah HG...bring it bitch..

What nothing?

No surprise there.
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Male 2,468
[quote]Senator Obama.....Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children... America has a debt problem and a failure of leadership. Americans deserve better. [/quote]

What is it now...7 or 8 trillion more under PBO? Yeah but things aren`t terrible. Real unemployment through the roof but things aren`t terrible.

Everybody in Washington is responsible for this shambles.




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Male 2,436
[quote]My house value is up $75,000. My income is up $35,000 a year. My mortgage rate is down 1.6%. My business has added 3 employees. My business revenue is up 80%. My 401k is up 30%. My other stocks are up almost 80%. My cousin is no longer in Iraq.

What am I missing?
[/quote]
See your previous post.
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Male 8,132
Andrew155

"A dismal labor market, labor force participation."

America has a difficult problem with the labor market.

In the 40s, 50s, 60s, and 70s you could work hard at a job that didn`t require additional schooling and make enough to live your life, raise your family, own a home. People had careers. Those jobs were in the manufacturing sector. Manufacturing went away.

Now those jobs are in retail, service, and restaurants and they don`t pay enough to live on.

So we`ve created a whole class of working poor, a problem, not only for them, but for the whole country. These people don`t pay taxes, they require government assistance to survive, and they don`t have enough disposable income to provide any stimulation to the economy.
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Male 8,132
Andrew155

I agreed with almost everything you just said. Very well put.

I don`t understand at all why we can`t run the country with a balanced budget. I think spending could easily be reduced 20% and taxes should be raised.

The problem we have now is that the deficit is so large and the interest alone is so high that not only would we have to balance the budget we`d have to have a huge surplus for decades to have any hope of even reducing the debt, let alone eliminating it. So I don`t know what the solution is.

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Male 2,578
There`s also 1.2 trillion in student loans and a myriad of other problems like this. It`s like a pile on.
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Male 2,578
Some more things:

We are in a giant asset bubble, with a number of things overvalued. Housing and stocks perhaps most so.

Quite a large current account deficit.

A dismal labor market, labor force participation.

We are no longer capable of "growing out of the debt" even if we wanted to.
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Male 2,578
Squirz, that was a good joke!

HG - GDP per capita is up, this is a good thing. Our GDP has only gone up and up and is one of the most resilient in the world. We are far less stagnant than most of Europe. So I`m happy that we`ve handled the crisis better.

But here are factors of why we are not truly robust anymore.

All the growth since 2009 is on the back of 7 trillion in additional debt. Your stats go back to 2004, if we measure from them it`s 10 trillion total. If you have to take out 10 trillion in loans to grow at a rather lame pace for the past 10 years, it`s a big problem. This is a bipartisan issue. All of our growth since the 80s has been debt-based.

In addition to the growth being on the back of 10 trillion since 2004, it`s on the back of the biggest monetary experiment in history. Currently 1 trillion a year of wealth creation.
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Male 8,132
5Cats

B.itch about income inequality and then complain about an attempt to make sure the working poor have access to health insurance and that the working poor make more money.

Those things address income inequality, or at least attempt to.
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Male 37,803
Income inequality? Oh Yeah!
In the past 5 years? The Rich have gotten more richer and the Middle Class and Poor have gotten more poorer!
I wonder who`s to blame?

The entire US economy is bracing for the disastrous ACA Employer`s Mandate... let`s raise the minimum wage too & really kill it!

Real Unemployment is at around 11%, those employed full time is the lowest in 20-odd years. Even though the population is bigger! There`s fewer people working.
Period.

SCFOAMF
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Male 8,132
mykunter

"If you`re doing so well, go feed those God damn third world kids you`re so worried about."

I sponsor 2 kids in south america.
I do habitat for humanity once a year.
I volunteer doing weekly art therapy with homeless kids.
5% of my overall business revenue goes to a charity I work closely with.

You don`t know anything about me, or what I do to try to help people.

"those God damn third world kids"

Have you completely loss touch with your humanity? How does someone get to be like this? I pity you.

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Male 6,227
@ Mykunter: May I suggest taking it down just a notch? Or maybe taking a break from the interwebs for a bit?
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Female 4,359
that man makes my skin crawl.
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Male 2,436
@HolyGod: If you`re doing so well, go feed those God damn third world kids you`re so worried about. Obama is a f*cking joke and so are you.
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Male 6,227
@ Andrew155: "As long as QE continues to exist, QE is the biggest contributor to inequality."

Queen Elizabeth died a long time ago. Duh! And if you`re talking about Queen Elizabeth II, she`s just a figurehead so it isn`t logical that she has much of an influence on wealth distribution. Sheesh. Some people!
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Male 8,132
Andre155

"it`s the Great Stagnation"

American GDP per capita according to the world bank:

2004: $41,929
2005: $44,314
2006: $46,444
2007: $48,070
2008: $48,407
2009: $46,999
2010: $48,358
2011: $49,854
2012: $51,749
2013: $52,839 (Estimated)
2014: $54,609 (Projected)

So where is the stagnation? I see it 2007 - 2010, but we`ve pulled out of it now.
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Male 8,132
Andrew155

"And aren`t you a white person in coastal California? That basically means you`r rich to the 95% other Americans. It`s ok, I get the guilt thing now."

I`m 25% middle eastern, but I look white. I live in Phoenix, AZ. I don`t feel guilty about anything. I just think it is a moral imperative to help people when I can.
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Male 2,578
Fortunately Squirz, pretty much every other country is in decline too. That`s why the main thing I agreed with in the speech was his idea that "America was still THE place to do business". To some extent true, that`s just the inherent nature of our country. France isn`t going to replace us.

But the middle class will continue to decline as long as interest rates are suppressed, causing massive wealth imbalance. As long as QE continues to exist, QE is the biggest contributed to inequality. As long as the Central Banks keep blowing up bubbles - all growth since the 90s has been based on Central Bank induced bubbles.
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Male 6,227
@ HG: While I think things are definitely improved from 2009 (thank goodness), I`m afraid that, in the bigger context of the past 30 years, the middle class continues to lose ground.

Obama`s managed to reverse some trends short-term, but I`m still pessimistic about this country`s long-term prospects. Unfortunately.
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Male 2,578
HolyGod, 2009 was a trough. That`s like saying in 2006 "everything is better today than the day the dot com bubble burst", or in 1990 saying "everything is better today than on Black Tuesday". There are these things called business cycles.

There`s also a thing called stagnation. That`s us. This isn`t the Great Recession, it`s the Great Stagnation.

And aren`t you a white person in coastal California? That basically means you`r rich to the 95% other Americans. It`s ok, I get the guilt thing now.
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Male 15,832
From everything I`ve heard about it, I`m glad I didn`t waste my time watching it.
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Male 8,132
Angillon

"What you`re missing is that you`re rich."

I don`t consider myself rich. I am most definitely middle class, albeit probably on the higher side of that. I`m just a small business owner.

I fully understand that those truths are simply true to ME. Everyone has their own experiences. I am certain some people are worse off now than in 2009. I simply contest many more are better off.

The things in my life that have improved are part of a larger improvement. Almost EVERY economic indicator is up from 2009. EVERYTHING.

I simply don`t see how everything is "so terrible".
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Male 12,365
Holygod:

What you`re missing is that you`re rich.

Things have improved for people who are rich and continue to improve.

They got worse for people who are poor and continue to worsen.

They got worse and are now unchanging from that position for people in between.
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Female 2,228
SOTU doesn`t really mean much in the long run, it`s the constitutionally mandated speech called for in January, when everyone gathers together (presumably for warmth) and we have a little powwow over what our priorities are. A nice gut check, in other words.

I`ll be waiting for the commentary on the R responses, there`s been like 5 different ones, no joke. Symptomatic of a party that can`t get its s#it together and find a leader or even a single unifying message. Best case scenario we get more fodder for the late night comedians ala Jindal. Here`s to hoping.
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Male 6,227
@ HolyGod: Dagnabbit! There you go again, spouting your FACTS. *fume*

~chortle~
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Male 8,132
DromEd

"If everything is so wonderful why is everything so terrible?"

What is so terrible?

Basically EVERYTHING about my life has improved since 2009. Is yours worse?

My house value is up $75,000. My income is up $35,000 a year. My mortgage rate is down 1.6%. My business has added 3 employees. My business revenue is up 80%. My 401k is up 30%. My other stocks are up almost 80%. My cousin is no longer in Iraq.

What am I missing?
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Male 2,390
first 30 seconds I could tell it`s not worth watching.
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Male 20
I couldn`t tell what he was saying because he didn`t have that African sign language guy doing the cheerleader arm moves.
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Male 2,468
If everything is so wonderful why is everything so terrible?
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Male 38,483

If you don`t have time to watch it I will summarize it for you.
He starts out with lies, moves on to damn lies and then tells some Whoppers!
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Male 884
Link: State Of The Union [Rate Link] - I have no funny. It isn`t funny
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