http://www.foxnews.com/story/0,2933,335957,00.html

Quote :

" WASHINGTON — President Bush admitted Friday that "our economy has slowed," but said Americans could counter the downturn if they do one thing: spend. Bush spoke to reporters at the White House in a hastily arranged appearance timed to Friday's release of a gloomy government economic report. He says the long-term outlook for the economy is good. The president said, "Our economy will prosper." Bush's top economic adviser said earlier that the nation's economic growth could dip into negative territory for the current quarter. That tracks with the assessments of many outside experts but is the most pessimistic word to come so far from the White House. "We don't really know whether it will be negative or not," Edward Lazear, chairman of the White House Council of Economic Advisers, told reporters at the White House. "We have definitely downgraded our forecast for this quarter." He would not discuss whether the White House is predicting the economy will actually fall into a recession. Some economists think it already has. "I'm still not saying that there's a recession," Lazear said. "We are going to have a weak growth quarter, and whether you call that a recession or not is something that we won't know for many months." Still, the White House was eager to put a good face on the economic picture, clouded by the release earlier Friday of a report showing the economy lost 63,000 jobs last month, the most in five years. Shortly after Lazear appeared to speak to reporters, Bush was to make a hastily arranged statement on the economy at the White House. Lazear said the White House predicts jobs numbers will pick up by spring and growth will rebound by summer, driven primarily by a recently passed stimulus package. "This quarter will be our weakest quarter," he said. "There are indicators suggesting that growth will pick up and pick up quickly. So the question is how quickly will it pick up." He highlighted what he said was the good news in Friday's jobs reports: that is showed that unemployment dipped, wages grew and weekly hours stayed the same. However, the jobless rate fell to 4.8 percent in February from 4.9 percent because so many people stopped looking for work and left the labor force. And average hourly earnings for jobholders rose only an anemic 0.3 percent from the previous month. "

3/7/2008 3:22:08 PM

this was the solution after 9/11 too

3/7/2008 3:22:43 PM

we do spend, money on fuel

3/7/2008 3:22:59 PM

Yeah give him some crayons and tell him to shut the fuck up.

3/7/2008 3:23:47 PM

he'll be gone soon enough

unless you people are stupid enough to elect another goddamned republican.

3/7/2008 3:24:27 PM

he's been busy filming harold and kumar 2

3/7/2008 3:24:32 PM

it is def a buyers market out there right now, in more than 1 sector


i'm mcLovin it

3/7/2008 3:24:39 PM

Clinton?

seriously?

3/7/2008 3:25:03 PM

haha if the dems weren't tripping over themselves to elect a woman or a black guy they'd win this time

damn I hate both parties so much now

3/7/2008 3:25:28 PM

fuck him

3/7/2008 3:25:34 PM

I would love to spend money.

only problem

I AM IN REAL ESTATE

self pwnt

3/7/2008 3:25:50 PM

the shittyness of our next president will make bush seem like herb sendek for us right now.

trust me.

3/7/2008 3:27:43 PM

has there ever been a pres. to be in office for two separate recessions?

3/7/2008 3:33:08 PM

if you're going to pin the 00 - 01 recession on Bush, a recession he inherited, then you better damn sure be ready to give him credit for getting us out of it in the matter of a few months.

3/7/2008 3:35:52 PM

Quote :

"haha if the dems weren't tripping over themselves to elect a woman or a black guy they'd win this time damn I hate both parties so much now "

Don't forget about Nader!!

3/7/2008 3:36:25 PM

Quote :

"Yeah give him some crayons and tell him to shut the fuck up."

3/7/2008 3:37:19 PM

Quote :

"if you're going to pin the 00 - 01 recession on Bush, a recession he inherited, then you better damn sure be ready to give him credit for getting us out of it in the matter of a few months."

quick to jump to conclusions aren't we? show me where I pinned it on Bush (really this one isn't even his fault)...I am simply curious. We did pull out quite fast, and I'm all for the gov. giving me money to jumpstart the overall economy. I actually don't have much of a problem with his domestic economic policies. it's foreign policy, shitting on our civil rights, gov expansion, and general, blatant disregard for anyone/anything that doesn't fall in line with him that I don't like.

[Edited on March 7, 2008 at 3:46 PM. Reason : .]

3/7/2008 3:45:15 PM

fuck spendin' my monies.

getting rid of credit cards >>>>>> trying to save the economy

3/7/2008 3:57:20 PM

^ I mean its a complete clusterfuck.

They say go spend money freely and pump money back in to the economy. On the other hand we are in a credit crunch and keeping your balances down is more important now than ever. If your balances are high you will have a hard time getting any more credit in an emergency.

3/7/2008 4:03:09 PM

This is why I spend no money at all that I know I don't have, because I'm terrified of what would happen if I had a bunch of balances I couldn't get rid of.

But yeah, if the fed does want to give me some money back in the form of a tax return, I'll gladly spend it into a savings account.

See what I did there.

3/7/2008 4:06:09 PM

just think.... THIS WILL BE YOUR LAST CHANCE TO SPEND YOUR OWN MONEY BC WHEN THE DEMS TAKE OVER THEY'LL BE DOING IT FOR YOU!!!

3/7/2008 4:08:12 PM

STOP TELLING US THIS SHIT AND BALANCE THE BUDGET YOU FUCKED UP!!

3/7/2008 4:19:06 PM

balance my ass!!! we're at war bitch and have been at war since we started this bitch in 1787 fucktard!!


this how we roll muthafuckas!!! get used to it!!

3/7/2008 4:25:47 PM

Quote :

" give him some crayons and tell him to shut the fuck up."

choked on my rice

3/7/2008 4:42:30 PM

graduating is gonna suck i'm like 40k in debt

3/7/2008 4:44:12 PM

sad thing is, all the gov't is doing with this "giving you your money back" is just making things worse. They will effectively print more money out of thin air. But Americans are too fucking stupid to realize it

3/7/2008 4:45:25 PM

Quote :

"we do spend, money on fuel "

3/7/2008 4:46:04 PM

OBEY! LIVE IN FEAR! SPEND ALL YOUR MONEY AND CONSUME!

3/7/2008 4:46:05 PM

legalize weed, blow, and hookers...economy problem solved

3/7/2008 4:48:04 PM

Quote :

". They will effectively print more money out of thin air"

i know b/c the market crash we are experiencing is more severe than the likes of anything this nation has ever gone through after fighting in 2 wars over the past decade

3/7/2008 4:49:18 PM

3/7/2008 4:49:50 PM

3/7/2008 4:50:10 PM

Uh, the reason the economy is bad is because no one has any discretionary income to spend.

3/7/2008 4:51:03 PM

nah, my bet is the several trillion dollars invested in national defense.

at least states have no problems taxing the math retards 200million at a time.. oh even in NC now. lol

3/7/2008 4:52:46 PM

couldn't possibly be all of the welfare state spending we do, could it? naaaaaaaah. never.

3/7/2008 4:54:34 PM

Quote :

"Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59. So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good customers, he said, 'I'm going to reduce the cost of your daily beer by $20. Drinks for the ten now cost just $80. The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. What happens to the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay. And so: The fifth man, like the first four, now paid nothing (100% savings). The sixth now paid $2 instead of $3 (33%savings). The seventh now pay $5 instead of $7 (28%savings). The eighth now paid $9 instead of $12 (25% savings). The ninth now paid $14 instead of $18 (22% savings). The tenth now paid $49 instead of $59 (16% savings). Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings. 'I only got a dollar out of the $20,'declared the sixth man. He pointed to the tenth man,' but he got $10!' 'Yeah, that's right,' exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got ten times more than I!' 'That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!' 'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!' The nine men surrounded the tenth and beat him up. The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill! And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier. David R. Kamerschen, Ph.D. Professor of Economics, University of Georgia For those who understand, no explanation is needed. For those who do not understand, no explanation is possible."

3/7/2008 4:59:03 PM

welfare state spending by republicans? does not compute. no srsly. show me evidence of this and hillary or obama might get an extra vote come november

3/7/2008 4:59:25 PM

I DO EVERYTHING BASED ON WHAT POLITICIANS TELL ME

3/7/2008 5:00:22 PM

Quote :

"the shittyness of our next president will make bush seem like herb sendek for us right now. trust me."

Doubtful. The failure of this administration has been nothing short of epic. Quite the contrary, I think we'll find that decisions that were made during this administration will have ramifications 10 and 20 years down the road from now that may not have otherwise occurred.

The growth of the US economy, for some time, has rested on the American consumer's ability to . . . well, consume. Think about it, when was the last time you heard the denizens of America referred to as "citizens". We're not, we're consumers and our society defines an individuals self-worth by his ability to consume, preferably extravagantly.

3/7/2008 5:20:19 PM

Quote :

"Tax them too much, attack them for being wealthy, and they just may not show up anymore. "

Haha yep great analogy there. Tax them too much and they will just stop spending any money. Or, they will just kill themselves.

[Edited on March 7, 2008 at 5:24 PM. Reason : .]

3/7/2008 5:23:52 PM

I think the point was that they'd use their influence and wealth to spend elsewhere.

It isn't like they're locked into shopping at Wal-mart every weekend.

3/7/2008 5:24:38 PM

Quote :

"he's been busy filming harold and kumar 2 "

3/7/2008 5:25:11 PM

or they will hire tax attourneys to get them out of as much taxes as possible

3/7/2008 5:25:20 PM

http://www.newsobserver.com/business/story/989154.html

3/8/2008 1:03:42 PM

fuck, I'll let the rest of you stupid americans spend


my shit goes right into my savings account

3/8/2008 1:37:16 PM

Quote :

"I would love to spend money. only problem I AM IN REAL ESTATE self pwnt"

boy that money for nothin sure was good while it lasted

^yeah dump it all into the market! -10% interest. i'm gonna buy a pac man machine or something fun. and im not voting.

3/8/2008 1:48:01 PM

Quote :

"give him some crayons and tell him to shut the fuck up."

winner

3/8/2008 1:53:02 PM

Quote :

"boy that money for nothin sure was good while it lasted "

All the old people in my family kept telling me to save, invest, etc. It is just so hard to get that idea through a 21 year olds head that has more money than he knows what to do with.

If I could go back to 2004 knowing what I know now I would be sitting pretty right now.

3/8/2008 1:54:51 PM

it took me 10 years to learn what i need to be doing with it. and i still dont know other than "dont spend it all"

3/8/2008 2:08:58 PM

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3/8/2008 2:09:18 PM