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Thursday, Nov. 8, 2012 | 1:19 p.m.
WASHINGTON — Austere "fiscal cliff" tax increases and federal spending cuts set for the end of the year would send the economy back into recession and cause a spike in the jobless rate to 9.1 percent by next fall, congressional budget analysts said Thursday. The tax and spending changes, which a lame-duck session of Congress will dig into next week, would cut the federal deficit by $503 billion through next September, said the Congressional Budget Office report. But the adjustments also would cause the economy to shrink by 0.5 percent next year. The report, updating an analysis from last May, ...
What the? "Back into recession?" When did we get out of the recession?
This column lost me at that foolish/lying line.
Bob: The recession officially ended in June 2009.
@John Fritz (Staff), geez John, you don't really think you can get away with using facts do you? DO YOU? John? Really? come on now.
LOL I like how a staff member actually comments to provide a date in time as to when the recession "officially" ended. Is that serious? Or a joke? LOL bahahaa.
I mean I guess you can only go on GDP but really, not necessarily an overall best indicator.
The recession ended for the wealthy. It is ongoing for the worker bees.
It seemed as if the "bad news" slacked a bit the last few months..
But Now..I was shocked this week to find out a friend..college graduate..was filing for bankruptcy
Two other friends..tech workers with excellent resumes are being laid off the beginning of the year..
My neighbor is closing her small business
I did some research as I like financial stuff and I believe that no matter what happens with the "fiscal cliff"..the eoncomy is going to tank.
I believe many employers and small business people were just "hanging in there" until after the election..
Another small business owner called me last night and said he was very worried and we talked about what might to done to improve his financials..
So..
I looked at the stock market and it is going down..and commodities..except for gold ..are not going up..Bonds are not going up (as far as I could see)
So...it is a lack of confidence..and people are pulling out..I thought of saving some for a rainy day and I think I will buy gold rather than save dollars..
I don't trust the government (taxes, regulaions, debt reduction etc) and I don't trust the dollar (QE2 eternity)
If I am right..that means the economy is going to tank and stay tanked for quite a while..No Confidence
I may not be right but..this is the report from my part of the world..another downturn that has nothing to do with "fiscal cliff."
Obama won, he should not kowtow to McDonald or Bonner
At some point we are going to have to pay our marker. Its just sad to see that once again its the hard working middle class that lose everything.
That's right mred, what part of the election don't these goof balls get? Obama has been elected twice now and Reid once right in the middle of this controversy over raising taxes, ACA and dismantling the military. Just do it.
Isn't it convenient that all this comes out right after the election? Too bad we didn't vote for a president that knew more about economics than government spending (not that he knows good ways to spend it, he just knows how to lose money). I sure hope these forecasts are proven wrong.
This won't affect Harry Reid one iota. He'll still live in his penthouse, the limos will still pick him up every morning, and he'll keep getting his raises.
So...nothing really to worry about here.
Atlas is starting to shrug. In the past 48 hours, the following companies have all announced layoffs in the USA:
- Westinghouse
- Research in Motion Ltd.
- Lightyear Network Solutions
- Providence Journal
- Hawker Beechcraft
- Boeing
- CVPH Medical Center
- US Cellular
- Commerzbank
- Iberia
- Momentive Performance Materials
- Brake Parts
- Gameforge Berlin
- Vestas Wind Systems
- Husqvarna
- ING
- Ericsson
- SRA International
- PerkinElmer
- Majestic Star Casino and Hotel
- Center for Hospice NY
- Bristol-Myers
- Lower Bucks Hospital
- Oce North America
- Corning
- United Blood Services Gulf
- Atlantic Lottery Corporation
- Welch Allyn
- Dana Holding
- Stryker
- Boston Scientific
- Medtronic
- Smith & Nephew
- Abbott Labs
- Covidien
- Kinetic Concepts
- St. Jude
- Hill Rom
- Darden Restaurants
- JANCOA
- Kroger
- Caterpillar
- Alcatel-Lucent
- Umatilla Chemical
- Rocketdyne
It's really starting to look like the country is being run by a community organizer.
chuck333 Nov. 9, 2012 4:56 a.m.
COMMENTED:
Atlas is starting to shrug. In the past 48 hours, the following companies have all announced layoffs in the USA:
********************
Chuck,
First, you should always cite your source if you want your comments to be viewed as credible.
Secondly, Corporate America has been outsourcing for at least 20 plus years and many of the companies you mentioned have also been outsourcing for years. Why? This is not new news. This is all about CORPORATE GREED! Nothing more; nothing less! Corporate America wants to pay as little as possible, wants to reduce benefits, and increase the bottom line. Why? So they can line their pockets with money and make the stockholders happy. When is enough enough? I have written about this so many times. In the old days, Corporate America would entice workers with a competitive salary and excellent benefits. They don't do that anymore. In some lines of business, let's use retail as an example, they only provide part-time jobs so that they can avoid providing benefits like medical.
This comment is sincere and not an attack. You have children; we have children. It is our children and grandchildren that are going to suffer with this CORPORATE GREED. It has to stop. I worked for a company that provided excellent benefits. Corporations do not provide those type of benefits anymore. Corporations are making record profits, but they are GREEDY and want more. They are holding on to their money.
I try very hard not to contribute to corporate greed. I search for products not Made in China. I support small mom and pop shops and that is all I will say about the subject.
Also, anything that can be done on a computer will eventually be outsourced.
Please stop, no one is reading our comments who cares. But, we all of us together can make a difference that is beneficial to all.
Please let's put all of the negative to the side and make a difference for our children and grandchildren.
P.S. to Chuck
The corporations and the wealthy are whining about their taxes and regulations, when there are so many loopholes that they really don't pay very much in taxes if anything at all.
We need regulations to keep them honest since they have proven they are not honest. They get hit with a fine and go back to business as usual.
So, if they want to go to China or where ever ~ Good-bye and don't let the door hit you on the A#$ on the way out.
A great deal of the CEO's receive more in compensation than the company pays in taxes.
CEO's in the United States are paid 5 to 10 times more than the CEO's in other countries. CORPORATE GREED has become the norm and now they expect and want more and more. Like I said above when is enough enough for these nouveau riche CEO's?
"Please let's put all of the negative to the side and make a difference for our children and grandchildren."
kepi I don't take anything written here as an attack. I look at it more as a disagreement that we all have that needs to be worked out.
I've owned three companies. Sold all three. One of my companies had 22 employees. I can remeber having a company picnic and looking around at my employees and thier families realized that decisions I make will effect everyone there. The burden was heavy. My employees thought I had money. They didn't know of the times I would go months without taking a salary so I could pay my vendors, thier salaries, insurances, taxes etc. I had a guy working for me that had an accident. I carried him for six weeks. He had a wife in school to be a pharmacist and four kids. I chose to be responsible.
I detest corporate greed. These CEO's that bilked the system and yet wanted us to bail them out make me sick. That inludes all of them so pick a demographic and rest assured I don't like what they did.
End game thought its simple. Corporations will not invest here when they can go to other countries, make more money, with less investment.
Anyways, our idea of corporations isn't that much different. What is is that I cannot foresee and end to the direction the country is in beings things are what they are.
Sorry for the doom and gloom this rainy morning but thats just my take on it.
Have a GREAT DAY and always tell me your thoughts. Never personnel, just business.
Comment removed by moderator. Personal Attack
demforlife, Did you really mean "time for the tea nuts and old southern haters to be thrown out and that started tuesday,and will continue every two years,until the system is purged of the talaban within the partie of no."???
These next two years are going to be very telling.
The Dems are still grousing about AL Gore not being elected and now they are calling fellow citizens the Talaban [sic]. I can be an illegal immigrant and be welcomed with open arms but be an informed citizen who disagrees with the likes of Kepi, Ksand, Dem4, Longtime, Jeffvegas, Teamster and the gmag and get called every name in the book.
This is exactly why I voted for Romney. I voted for Obama the first time but it didn't get our country anywhere but farther in the hole. I will continue to be a heretic and push against the status quo. As for name calling...so what...if that's all you have your arguments are as shallow as transparency in this administration.
http://www.washingtontimes.com/blog/wate...
kepi for you.
Obama and the Democratic Party congressional leaders need to set the agenda on what they believe should occur. Sell it to the Public. We should let the Bush tax cuts expire, then pass a similar tax cut for the bottom 98%. We should raise capital gains back to the historic number of 25%. They then should go back to the Simpson/Boles and see what can be acceptable for reductions. When you let the Bush Tax cuts end, pressure is on the Republican side to agree on the tax cut for the 98%.
@Chuck,
Thank you for your response. I appreciate it.
Have a great day :)
@Heretic,
I am not trusted so will be gone soon, but I hope you see this.
Are you saying that I have called you names because we did not agree? I will look back at all my posts and if that is the case I apologize.
I will respond in kind and I will defend myself, but I really don't like negativity.
The apology is sincere and if I have done that I will make sure I don't do it again to you or anyone else.
Don, not so. Let the tax cuts expire--and eliminate some of those refunds for those who don't pay income tax but have several dependents--so they get thousands in "refunds." Money bills (taxes) must start in the House of Representatives--with a Republic majority....
Exactly what I want. Let the house try to put tax cuts together that will have agreement in the Senate. Tax cuts for the top 2% should not pass the Senate. Eventually the house will pass what Obama, and the american people want, if it does so much the better. If it does not the House is the fault. See 2014 election.