Bush Says Economy Sending Mixed Signals, Opposes Tax Increases

[maddezmom]

Source: Bloomberg

By Roger Runningen

Jan. 7 (Bloomberg) -- President George W. Bush said the U.S. economy is sending contradictory signals, making this no time to raise taxes.

``Recent economic indicators have become increasingly mixed,'' Bush said today after lunch with Mayor Richard Daley and city business leaders at the Union League Club of Chicago.

``In a time of economic uncertainty, we don't need to be taking money out of your pocket,'' Bush said. ``The smartest thing we can do is to keep taxes low.

~snip~

Government reports in the past 10 days showed new home sales fell to the lowest in 12 years, job creation slowed and the jobless rate rose to 5 percent in December from 4.7 percent. The reports spurred concern the economy will fall into recession, and U.S. stocks last week had their worst start to a year since 2000.

The odds of a recession are ``more likely than not,'' said Harvard University economist Martin Feldstein, who was chief economist to President Ronald Reagan. Consumers ``are going to be a little more reluctant to spend, and that is going to put a further drag on growth in 2008,'' Feldstein said in an interview in New Orleans on Jan. 5.



Read more: http://www.bloomberg.com/apps/news?pid=20601103&sid=aC8IXxPttAZc

[bahrbearian]

1. That damn Economy, its so wishy-washy, why can't it make up its mind?

[laconicsax]

9. Seriously

It's time for the Economy to pick a side. We're at war.

[old guy]

2. Someone who does the same thing

over and over and expects different results.....well, you know the rest.

[ixion]

3. mixed signals?

oh please. :puke:

[maxrandb]

4. Didn't he mean "mexed missages"? n/t

[sinkingfeeling]

5. Every time he talks about the economy the markets drop.

[Bravo Zulu]

6. Tax the pricks responsible for the Iraq quagmire!

and keep taxing them until we win or out of that dog forsaken stink hole?

[Binka]

14. Indeed!

It is all code speak coming from the Chimp anyway, it isn't about raising taxes it is about rescinding the mother fucking tax breaks for the richest, and this skull fuck knows it. Congress needs to repeal those tax breaks NOW!

[damntexdem]

7. Yeah, really mixed signals -- it's either:

(1) recession or (2) depression.

[rodeodance]

8. his pea brain is missing lots of signals

[Nickster]

"Why don't they report any of the GOOD news!" /sarcasm

[nbcouch]

10. More pandering

to the greedy and the selfish ... has Bush ever found occasion to recommend raising taxes? If he wouldn't do it upon starting a war, when WOULD he do it?

[clarence swinney]

13. SPEND & BORROW

Why increase taxes when you can give rich pals 1700 B and borrow 3900 to pay for it?

Pals First. America Third.

[Vinca]

11. Translation: We're still getting richer, it's a shame about you. nt

[clarence swinney]

12. Bush Econvomit

# 8 BUSHOVOMITS II

JOBS
NET NEW JOBS PER MONTH

Clinton—237,000
Carter----218,000
Reagan---175,000
Bush II----70,000 (He brags on this-wow)

TOTAL STOCK MARKET GROWTH
PERCENT INCREASE PER YEAR

Clinton---41%
Bush I----21
Reagan---17
Carter------5
Bush II-----4 ( he calls this Zoom?)

How? Yes, much money has been made as the stocks climbed out of deep hole.
Example—Cisco zoomed from $75 to $15. Deep hole. Then, over six years it zoomed to $35.
S& P just recently reached it’s 2000 Level.
One-Half the Dow thousands just go back to 2000 level. Not Dow 30.
HOME COSTS

Average annual income to buy an average priced home
2000-3.2 years----2006—5.4 years
An increase of 68% over six years.
The next noise you hear will be Foreclosure Boom
INFLATION

Ignore gasoline—home prices—education prices—heath care prices
Everything is beautiful if you can control the numbers.
MONEY SUPPLY

M-3
Increase in each decade
1970—1207 Billion
1980---2266
1990---2612
2000---3693 (6 years)

Increase per year for each decade
1970—120
1980---226
1990---261
2000---615 (6 years) will hit 800?
Life is grand when Chairman and all Federal Reserve Officials are “Conservative” Republicans
Ok! So the Europeans can buy our goods now—
In 2000 it took $.83 to buy a Euro. Now it takes $1.37
3 course-set lunch—London-$61.50—Nyc-$45
Four Seasons Room—London-$1,000—Nyc-$465


DEBT—

1980—Less than 1000 Billion (after 200 years)
1990---4,000 (12 years of Conservative Republicanism)
2000---5700
2007--- 8881 (7-10-07) wow! More Spend and Borrow let Kids Pay Tomorrow Conservatism

SPENDING

Clinton last budget 1.84 Trillion. Bush up to 2.9 with one budget to go.
Reagan increased Total Sending by 80%. Bush may tie LBJ at 60%.
Note how Heritage-AEI and all Conservatives count only one-half of the budget as their presidents responsibility. Watch them on Revenues. They will cheat. They will use correlations where there is no connection.
SAVINGS

Total National Savings has gone negative for first time since Conservative Big Crash

PROFITS

Corporate profits at all time high
Buy overseas at $.50 cent per hour labor and sell to suckers as tho $10 per hour labor
Keep minimum wage as low as possible.
Use two part time instead one full time
Do not pay Insurance.
Maximize Profits like good Christians.
Ever hear of optimizing profits?
Buy Washington. It is cheap.

INTEREST RATES

Republican Federal Reserve let Clinton end with a 6.5 % rate then few months later gave Bush a 1% rate. If this Federal Reserve is non-partisan I will shoot a 61 tomorrow.
Greenspan gave Clinton 13 significant rate hikes during campaign years.
Everything is beautiful if you are Mega-Rich.

Clarence Swinney
Political Research Historian since 1991 on Reagan-Clinton-Bush II administrations
Burlington nc
[e-mail]

[CGrantt57]

15. In other words...

We're not through raiding the treasury, fucking the taxpayers, stroking the rich, killing the enderly, and blaming future generations, so you would you mind just leaving us the hell alone??

Regards,

[Sam Ervin jret]

16. Mixed signals people: Rich guys; everything seems normal : Rest of us; Bend over

Mixed signals. The guy is finally telling the truth.

[DLnyc]

17. Those aren't mixed signals, Georgie.

The economy is saying "No, I didn't want you to fuck me before, George, and No, I sure don't want you to fuck me again, George."
"No" means "No", George. No more tax cuts for rich people, No more unregulated crony-killer-capitalism, No more obscene war profiteering for your psycho religious buddies and Dead-Eye's psychotic oil maniacs, NO, NO, NO, NO!!!!!

[bobo4u]

18. He has raised taxes. It's called inflation.

If you want to destroy the middle-class you don't have to raise taxes on them--you just turn on the printing presses and create dollars out of thin air. Then watch their standard of living plummet along with the value of the dollar. The rich know how to hedge their savings. The middle-class don't. This is the worst kind of taxation. And absolutely, the most criminal.

[Skittles]

19. the "mixed signals" are SUCKS and SUCKS HARD

what a clueless piece of shite

[Javaman]

20. Here is why he won't raise taxes or in other words, "mommy won't like me"...

remember how is daddio mumbled the now famous phrase, "no new taxes" then promptly raised them? Thus solidifying his "legacy" as being the apparent liar he always was? erasing any boner he got from the "successful" Iraq war.

well, here we are now, in the land of illusion and stupidity.

moron* honestly thinks he's* doing a great job and if he raises taxes, I believe he* really thinks that will dump his fucked up "legacy" in the toilet.

what moron* is failing to realize is his* legacy is already in the toilet and no one has the guts to flush it.

so as a result, we are all treated to one stinky ass room with no where to go for air.