[rangerone314]

Thoughts on Congressional Budget Office estimate that we wont pull out of economic quagmire until 2015, and then with a growth rate of only 2.3%.

With the Federal debt probably being unserviceable, and peak oil will probably have already happened with a forecasted production
decline of 5% or so per year, will 2015 be too late to do anything?

[cipi604]

good luck! you need it

[perdition79]

$this->bbcode_second_pass_quote('rangerone314', 'T')houghts on Congressional Budget Office estimate that we wont pull out of economic quagmire until 2015, and then with a growth rate of only 2.3%.

With the Federal debt probably being unserviceable, and peak oil will probably have already happened with a forecasted production
decline of 5% or so per year, will 2015 be too late to do anything?

[biofuel13]

How about a link to the Congressional Budget Office report that you are referring to??

I can't exactly share my thoughts on something when you haven't given the information to peruse...

[Ache]

$this->bbcode_second_pass_quote('biofuel13', 'H')ow about a link to the Congressional Budget Office report that you are referring to??

I can't exactly share my thoughts on something when you haven't given the information to peruse...

$this->bbcode_second_pass_quote('Ache', '')$this->bbcode_second_pass_quote('biofuel13', 'H')ow about a link to the Congressional Budget Office report that you are referring to??

I can't exactly share my thoughts on something when you haven't given the information to peruse...

[Sixstrings]

$this->bbcode_second_pass_quote('', 'N')ot only is that not a link to the Congressional Budget Office, the term "Congressional Budget Office" does not even appear in the article.

[copious.abundance]

But just because some people here are really dumb and I'm bored and like to prove people wrong who make up things or have no idea what they're talking about, here's what the CBO's latest economic forecast (released on Jan. 8 ) actually has to say on the matter:

--> The Budget and Economic Outlook: Fiscal Years 2009 to 2019 <--
Go to page 5:
$this->bbcode_second_pass_quote('', '[')b]CBO’s Economic Projections for Calendar Years 2009 to 2019

[...]

Fourth Quarter to Fourth Quarter (Percentage change)
Real GDP
Estimated 2008: -0.4
Forecast 2009: -1.5
Forecast 2010: 3.0
Projected Annual Average 2011-2014: 4.0
Projected Annual Average: 2.3

[Snowrunner]

"Recovery time" is a funny term anyway.

If you look at how long it took for Wallstreet for example to regain all the losses (inflation adjusted) it was 30+ years from bottom to "level".

As it seems we are getting hammered much harder this time around the term: "Game Over" is probably appropriate.

[shady28]

$this->bbcode_second_pass_quote('Snowrunner', '"')Recovery time" is a funny term anyway.

If you look at how long it took for Wallstreet for example to regain all the losses (inflation adjusted) it was 30+ years from bottom to "level".

As it seems we are getting hammered much harder this time around the term: "Game Over" is probably appropriate.

[bratticus]

$this->bbcode_second_pass_quote('', '[')b]$1.2 trillion dollar deficit: Obama's hands are tied

BloggingStocks
by Connie Madon
Posted Jan 10th 2009

How would you like stepping into the presidency with a $1.2 trillion dollar deficit and with the country clamoring for dramatic change to get the economy back on track?

Barack Obama has had to scale back his stimulus program to $775 billion dollars over two years. Some analysts are saying that this will not be enough.

The Congressional Budget Office said that the budget deficit would shatter the previous post-World War II record. Without the stimulus, the deficit would be 8.3% of GDP and with the stimulus it will be 10% of GDP. CBO estimates that revenues will fall by 6.6% and government spending will rise by 17%.

Without a stimulus package, it is estimated that the economy would shrink by 2.2%, unemployment would reach 9.2% in 2010, and house prices would fall another 14%. The economy would not return to normal until 2015!

... snip ...

[bratticus]

$this->bbcode_second_pass_quote('OilFinder2', 'B')ut just because some people here are really dumb and I'm bored and like to prove people wrong who make up things or have no idea what they're talking about, here's what the CBO's latest economic forecast (released on Jan. 8 ) actually has to say on the matter:

--> The Budget and Economic Outlook: Fiscal Years 2009 to 2019 <--
Go to page 5:
$this->bbcode_second_pass_quote('', '[')b]CBO’s Economic Projections for Calendar Years 2009 to 2019

[...]

Fourth Quarter to Fourth Quarter (Percentage change)
Real GDP
Estimated 2008: -0.4
Forecast 2009: -1.5
Forecast 2010: 3.0
Projected Annual Average 2011-2014: 4.0
Projected Annual Average: 2.3

[the48thronin]

$this->bbcode_second_pass_quote('bratticus', '
')I totally don't get how the GDP will get better while unemployment is getting worse.

Unemployment rate /// Real GDP
Estimated 2008: 5.7% /// -0.4%
Forecast 2009: 8.3% /// -1.5%
Forecast 2010: 9.0% /// 3.0%

How does that work?

[bratticus]

$this->bbcode_second_pass_quote('the48thronin', 'I')f most of the unemployed receive at least 52 weeks of unemployment or if the government intervenes with some feel good retraining program to provide the missing income...VOILA`.

[Chuckmak]

Prison Planet? UGH.

[Jotapay]

$this->bbcode_second_pass_quote('Chuckmak', 'P')rison Planet? UGH.

[bratticus]

$this->bbcode_second_pass_quote('the48thronin', 'T')wo different models...

[the48thronin]

$this->bbcode_second_pass_quote('bratticus', '')$this->bbcode_second_pass_quote('the48thronin', 'T')wo different models...

$this->bbcode_second_pass_quote('bratticus', '')$this->bbcode_second_pass_quote('OilFinder2', 'B')ut just because some people here are really dumb and I'm bored and like to prove people wrong who make up things or have no idea what they're talking about, here's what the CBO's latest economic forecast (released on Jan. 8 ) actually has to say on the matter:

--> The Budget and Economic Outlook: Fiscal Years 2009 to 2019 <--
Go to page 5:
$this->bbcode_second_pass_quote('', '[')b]CBO’s Economic Projections for Calendar Years 2009 to 2019

[...]

Fourth Quarter to Fourth Quarter (Percentage change)
Real GDP
Estimated 2008: -0.4
Forecast 2009: -1.5
Forecast 2010: 3.0
Projected Annual Average 2011-2014: 4.0
Projected Annual Average: 2.3

[bratticus]

$this->bbcode_second_pass_quote('the48thronin', 'S')pending is not employment. If the government spends millions and millions bailing out industries, those sales (when the industry spends the bailout) and the resultant sales of products produced need not create JOBS for those unemployed.