White House Delaying Bad Economic Data until Obamacare passes Congress

2009-07-20 21:21:30

#1

Harmor: Error_Name_Not_Found; +605|6756|San Diego, CA, USA

White House Delays Release of Disastrous Economic Data Until After Obamacare Passes

https://img43.imageshack.us/img43/8004/obamadeficit.jpg

Gateway Pundit wrote:
The White House will not release the disastrous Obama economic data until after the Congressional vote to nationalize health care takes place.
My Way reported:

The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape.

The administration's annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama's budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.

The release of the update - usually scheduled for mid-July - has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town on its August 7 summer recess.

President Disaster already sent the economy off a cliff but still wants to spend trillions more on Obamacare

2009-07-20 21:26:02

#2

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6361|what

The shame of it is that some economists believe the best thing the government can do is talk up the economy. You talk it down and you get a self fulfilling prophecy, talk it up and you only get the hope that people will believe you. And inevitably the real data is always different.

When those figures are released it will actually get worse as the market reacts to the forecast.

2009-07-20 21:28:04

#3

Poseidon: Fudgepack DeQueef; +3,253|6745|Long Island, New York

I'm really not sure how they can get estimates for 2013 onwards?

2009-07-20 21:28:44

#4

Kmar: Truth is my Bitch; +5,695|6809|132 and Bush

Didn't we just get more good news?
http://www.marketwatch.com/story/us-jun … 9720105200

Like the third month in a row?
http://www.bloomberg.com/apps/news?pid= … A46FdvUO3A
http://www.cnbc.com/id/32012838

Xbone Stormsurgezz

2009-07-20 21:47:28

#5

Harmor: Error_Name_Not_Found; +605|6756|San Diego, CA, USA

I hope we get good news...but economists are predicting little growth and unemployement of 11% by the end of year. Granted...employement is a lagging indicator, but still...11%.

http://www.forexlive.com/37633/all/dr-d … ment-to-11

Fore XLive wrote:
Roubini is on CNBC saying that while he sees the worst behind us he sees a weak recover and rising unemployment. The recovery will see growth of barely 1% for the next few years and unemployment will peak around 11% next year. The recession will end in a technical sense at the end of this year but will feel like a recession for much longer.

2009-07-20 21:48:23

#6

Hurricane2k9: Pendulous Sweaty Balls; +1,538|5909|College Park, MD

how the hell can you say it'll be over when unemployment will keep rising

that's like saying a war is over even though shots are still being fired

https://static.bf2s.com/files/user/36793/marylandsig.jpg

2009-07-20 21:59:06

#7

Kmar: Truth is my Bitch; +5,695|6809|132 and Bush

Unemployment is generally consider a result of a poor economy. LEI (LEADING economic indicators) is considered by many to be a better forecaster/indicator. Housing is definitely picking up.. at least new home construction.

Xbone Stormsurgezz

2009-07-20 22:00:41

#8

Doctor Strangelove: Real Battlefield Veterinarian.; +1,758|6676

Hurricane2k9 wrote:
how the hell can you say it'll be over when unemployment will keep rising

that's like saying a war is over even though shots are still being fired

Mission Accomplished.

Also these predictions are based on mathematical functions using the current market trends. They would be quite accurate but only if things stay on the current course and there are no shocking revaluations, i.e. how the market tanked in September of last year because of all the banks suddenly revealing that they had no money.

2009-07-21 04:14:15

#9

lowing: Banned; +1,662|6859|USA

Harmor wrote:
White House Delays Release of Disastrous Economic Data Until After Obamacare Passes

http://img43.imageshack.us/img43/8004/obamadeficit.jpg

Gateway Pundit wrote:
The White House will not release the disastrous Obama economic data until after the Congressional vote to nationalize health care takes place.
My Way reported:

The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape.

The administration's annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama's budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.

The release of the update - usually scheduled for mid-July - has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town on its August 7 summer recess.

President Disaster already sent the economy off a cliff but still wants to spend trillions more on Obamacare

Gotta love the promised "TRANSPARENCY" of the Obama administration

2009-07-21 12:20:14

#10

Red Forman: Banned; +402|5608

2009-07-21 12:29:58

#11

Macbeth: Banned; +2,444|5793

Posi got a point. You can't predict that far into the future, any number of positive or negative economic annomlys (sic) could happen.

2009-07-21 12:31:51

#12

Poseidon: Fudgepack DeQueef; +3,253|6745|Long Island, New York

Macbeth wrote:
Posi got a point. You can't predict that far into the future, any number of positive or negative economic annomlys (sic) could happen.

I would assume that if Obama got re-elected (and seeing as how the GOP is falling apart, it seems likely) wouldn't we end up with a surplus at the rate the debt decreases (as according to that chart)?

So essentially, isn't that chart really speaking in favor of Obama?

2009-07-21 12:41:00

#13

cpt.fass1: The Cap'n Can Make it Hap'n; +329|6904|NJ

Yipppie, oh good news.. Even though it's not going to really be worth anything, I"m going to be rich.

2009-07-21 12:56:26

#14

Catbox: forgiveness; +505|6924

The people know the truth now... delaying the bad economic news doesn't matter... (transparency...lol)
So hopefully the power of the people can limit the damage the Pres and Democrat govt can do...
People voted for the Obama that ran for President... Not what he has revealed himself to be over the past few months.
I have to admit i thought it would take longer for him to plummet in popularity... He is way ahead
of schedule... I lived through Carter and it is eerily similar.

Love is the answer

2009-07-21 13:08:04

#15

Macbeth: Banned; +2,444|5793

@pose no it isn't but what I am saying that any number of things can happen between here and there. What if the U.S. Were to discovered an unlimited source of energy and sold it to all the other countries or what if there was full on revolution in china, their economy wrecked etc. You can't predict so far into the future.

2009-07-21 13:18:38

#16

imortal: Member; +240|6873|Austin, TX

Poseidon wrote:
Macbeth wrote:
Posi got a point. You can't predict that far into the future, any number of positive or negative economic annomlys (sic) could happen.
I would assume that if Obama got re-elected (and seeing as how the GOP is falling apart, it seems likely) wouldn't we end up with a surplus at the rate the debt decreases (as according to that chart)?

So essentially, isn't that chart really speaking in favor of Obama?

Nope. When Obama tries to sell us on a 'spending plan,' they tend to couch it as "12 trillion over the next 10 years." The proposed budgets that far into the future are based on how they are trying to fund the programs. Esentially, they are passing it as a law that we will have to spend money on, even past his term. Those projections are basd on plans Obama is making extending spending that far. Since those numbers are projected, they are liable to change. For example, if he passes this silly Obamacare plan, then you will see even more of a deficit, and those numbers will plunge down even more.

(on an off note, can we call Obama a tax-and-spend Democrat yet, or is it still too soon?)

2009-07-21 13:22:34

#17

Poseidon: Fudgepack DeQueef; +3,253|6745|Long Island, New York

imortal wrote:
they are liable to change

That's what I'm saying...you never know what's going to happen. Something completely out of the blue could come and throw everything off balance. (example: 9/11)

And that obviously can apply to the next 3.5 years of Obama as well.

2009-07-21 20:07:16

#18

Kmar: Truth is my Bitch; +5,695|6809|132 and Bush

Poseidon wrote:
Macbeth wrote:
Posi got a point. You can't predict that far into the future, any number of positive or negative economic annomlys (sic) could happen.
I would assume that if Obama got re-elected (and seeing as how the GOP is falling apart, it seems likely) wouldn't we end up with a surplus at the rate the debt decreases (as according to that chart)?

So essentially, isn't that chart really speaking in favor of Obama?

That would certainly depend on Congress. Democrats are revolting and Obama's numbers are falling.. predicting what's "likely" to happen is a near impossibility.

Xbone Stormsurgezz

2020-06-12 00:55:43

#19

jackthomasdi: Disabled; +0|1623

Thanks for providing very useful information.

Last edited by jackthomasdi (2020-06-12 01:03:43)

BF2S Forums White House Delaying Bad Economic Data until Obamacare passes Congress

Gateway Pundit wrote:

Fore XLive wrote:

Hurricane2k9 wrote:

Harmor wrote:

Gateway Pundit wrote:

Macbeth wrote:

Poseidon wrote:

Macbeth wrote:

imortal wrote:

Poseidon wrote:

Macbeth wrote:

Board footer