There are no grounds to suggest that by putting the responsibility over to the state, one can achieve better results. Unreasonable expansion of the budget deficit, accumulation of the national debt - are as destructive as an adventurous stock market game. During the time of the Soviet Union the role of the state in economy was made absolute, which eventually lead to the total non-competitiveness of the economy. That lesson cost us very dearly. I am sure no one would want history to repeat itself. -Vladimir Putin
As Art Laffer keeps telling anyone who’ll listen, it works every time. Between 1980 and 2007, the US cut taxes at all income levels. Result? The top one per cent went from paying 19.5 per cent of all taxes to 40 per cent. In Britain, since the top rate of income tax was lowered to 40 per cent in 1988, the share of income tax collected from the wealthiest percentile has risen from 14 to 27 per cent.
Liberal, Brilliance, Oops, Economy
To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble. -Paul Krugman
All told, this tax cut will put $112 billion into the pockets of 155 million workers, who will then inject it back into the economy, spurring growth and creating jobs.
Democrat, Government, Incompetence, Financial, Scandal
The federal government has accumulated more new debt--$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first 100 Congresses combined, according to official debt figures published by the U.S. Treasury. That equals $10,429.64 in new debt for each and every one of the 308,745,538 people counted in the United States by the 2010 Census.
Democrat, Liberal, Incompetence, Obama, Economy, Debt
In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.
Jeffrey Goldberg, a national correspondent for The Atlantic magazine, asked if Cuba's economic system was still worth exporting to other countries, and Castro replied: "The Cuban model doesn't even work for us anymore"
Otellini singled out the political state of affairs in Democrat-dominated Washington, saying: "I think this group does not understand what it takes to create jobs. And I think they're flummoxed by their experiment in Keynesian economics not working."
Democrat, Liberal, Incompetence, Obama, Economy
A majority of Americans have a negative impression of the economy and expect the effects of the recession to linger for years, according to a new CBS News poll. Most also say President Obama has spent too little time on the economy, which Americans cite as the country's most important problem by a wide margin.
Some people, usually community activists, loath Wal-Mart. Others, like the family of four struggling to make ends meet, are in love with the chain. I, meanwhile, am in awe of it. With more than 7...
FDR's Policies Prolonged Depression by 7 Years, UCLA Economists Calculate / UCLA Newsroom
In fact, the real income (adjusted for inflation) of the poorest fifth of U.S. households increased by 12 percent in the 1980s, reversing a 17 percent slide between 1979 and 1983 before the economic growth of the Reagan era kicked in. The poverty population, after growing by 7 million during the late 1970s, dropped by 4 million in the 1980s.
How much Economic Freedom exists in your country? Website of the Economic Freedom of the World Network, and the Economic Freedom Index.
Federal workers have been awarded bigger average pay and benefit increases than private employees for nine years in a row. The compensation gap between federal and private workers has doubled in the past decade.
Federal civil servants earned average pay and benefits of $123,049 in 2009 while private workers made $61,051 in total compensation, according to the Bureau of Economic Analysis.
Democrat, Liberal, Incompetence, Obama, Financial, Economy
The White House says the government is now borrowing 41 cents of every dollar it spends. New estimates predict the unemployment rate will average 9 percent next year and the budget deficit will be $1.42 trillion — even bigger than previously expected.
Obama, Oops, Economy
Public confidence in President Obama has hit a new low, according to the latest Washington Post-ABC News poll.