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BY THE NUMBERS: Economy Struggling After Two Years of Failed Economic Policies
Posted by Press Office on September 07, 2010

In a White House Press Briefing today, Press Secretary Robert Gibbs claimed that “by virtually any measure, our economy is a better place than it was two years ago.”  Apparently, “virtually any measure” does not include any of these key economic indicators:

  • THEN: Unemployment In August 2008: 6.1. percent; 9.4 million unemployed Americans
  • NOW: Unemployment In August 2010: 9.6 percent; 14.9 million unemployed Americans
  • THEN: Average 2008 Government Compensation: $108,476; Private Sector: $69,928 
  • NOW: Average 2009 Government Compensation: $123,049; Private Sector: $61,051
  • THEN: Number of Homes Lost or Put Into Foreclosure In July 2008: 272,171
  • NOW: Number of Homes Lost or Put Into Foreclosure In July 2010: 325,229

While the White House continues spinning its economic record and scrambling for ideas to convince Americans that the President is focused on the economy, Republicans have been busy listening to the American people and crafting a new governing agenda with their input.  With this new agenda, Republicans will continue offering better solutions to create jobs and get the economy back on track. 

Comments
The opinions expressed below are those of their respective authors and do not necessarily represent those of this office.
  • David Thelen commented on 9/8/2010
    There is talk of privatizing social security. There is talk of eliminating entitlement programs. However you should not just drop these to go right into another proposal. This would be like a plane flying at 30,000 feet then land a second later. It would cause many problems for the passengers. The plane needs to land gradually for there to be no costly turbulence. The same can be said of our social security and entitlement programs. There need to be a gradual replacement for there to be the least amount of economic turbulence. In a very efficient business, they will study if a new procedure will save them money. Many times there are fixed costs plus variable costs in any business proposal. If the costs are less than the benefits, the procedure will be adopted. However, there may be downward curves for item one and upward curves for item two in total costs. It is where these curves meet at its lowest point that shows the best point for a new procedure to be adopted. Calculus would be required to find this point. The last time there was a large purge of people on welfare, there was a surge in our prison population. Therefore, there was not a net savings in government costs. Education is one of those items that will be needed to wean people off of entitlement programs. Tax credits for businesses to hire people who are on entitlement programs will also be required. Education and tax credits for businesses represent upward curves on a graph. At the same time, entitlement costs represent downward curves. As each additional dollar is spent in education and tax credits will bring down all total costs of entitlement programs - to a point. A strong nation depends on having strong families. The number one and two reasons for marriages to end are due to finances and having a special needs child. For families who are depending on entitlement programs, there need to be education included to prevent the law of unwanted consequences. They need to learn ways to keep their families as functional as possible while they are learning to work. Perhaps extra dollars should be spent for mentors to teach teens in those families. This would be worth the investment to a point. Can reducing the first dollars spent on payroll and sales taxes actually increase total tax revenues. The more people bring home for the their pay, the higher amount of money can be spent on our economy. Then this would increase our employment rate. It is this that would raise total amount of payroll and sales taxes collected. We should exempt sales taxes on many necessities such as car repairs. Finally, it is going to take complex math and calculus to find the point of least amount of total costs before making any changes. There will be downward and upward graphs for everything. Can we just abruptly stop entitlement programs, including social security, without any great economic turbulence? We need to consider using math to not only to go from one program to another gradually. We need to consider how each additional dollar, such as education and tax credits, will save the government costs up to a point. Using calculus will help the US with its spending in the long run. This is just something to consider.
  • Sharon Paquet commented on 9/9/2010
    The current administration and policies have kept spending our money to further their own agenda. Obama and his cabinet has been a complete failure. We must stop this run away train. The Republican's need to show the people they are sincere and are not involved for their own rise in the system. The people need to hear a "Plan" to bring our Country back to it's roots and success. The American people deserve to know who stands for what and what they will do to. The Obama administration must be stopped, before the damage they have done cannot be reversed.
  • Sam Roberts commented on 9/9/2010
    We just signed off on largest loans ever to PERMX the Mexican oil that spilled more oil the gulf than BP ! They did nothing nor did they clean up anything. We did the same for Brazil where George Soros is major stock holder. Yet the administration has killed the Gulf coast economy by refusing to lift the drilling ban.Obama does not mind creating jobs by loaning money for drilling for oil by our competitors but American workers must punished!
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