Comments on: Will Bad Economy Lead To A New Outlook?

CBS Evening News: Some Believe Recession Will Cause Americans To Reassess Their Values

[ubrew12]

excoachken said: "All the spoiled brats who grew up in the 70's and 80's with expectations of living in McMansions and sucking up Starbuck's at poolside will have to "down size" their gluttonous appetite for frills."

Since 1980, the share of the nations income going to her richest 1% tripled, while the share going to her poorest 90% fell by 20% (or one-fifth). This means that in order for the wealthiest 1% of Americans to triple their income in the last 30 years, the ordinary working American gets paid, on average, $10000.00 less a year today than he would have been paid in 1980 proportions. So the expectations of those growing up in the 70s and 80s may be skewed by the fairer distribution of wealth in those days. But, with any luck, with your preaching, maybe you can get them to accept slavery in the future (/sarcasm).

[ubrew12]

excoachken said: "All the spoiled brats who grew up in the 70's and 80's with expectations of living in McMansions and sucking up Starbuck's at poolside will have to "down size" their gluttonous appetite for frills. It's back to basics for the wannabe eliteists. "

Since 1980, the share of the nations income going to her richest 1% tripled, while the share going to her poorest 90% fell by 20% (or one-fifth). This means that in order for the wealthiest 1% of Americans to triple their income in the last 30 years, the ordinary working American gets paid, on average, $10000 less a year today than he would have been paid in 1980 proportions. So, the 'expectations' of those growing up in the 70s and 80s may have been skewed by the more fairly distributed income in those days. But, keep preaching, and maybe you can get those 'spoiled brats' to accept slavery.

[cheetah-man7]

If the depression rids this Nation of millions of Criminals and welfare loving, uneducated, American hating.......

Posted by american_11-2009
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And exactly how do YOU propose deporting all those deep RED southern state, NASCAR, incestuous, anti-American morons, living on welfare?
Posted by evilbusheviks
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Let's not forget those trailer park living, pickup truck driving, Piggly Wiggly shopping, Assembly of God attending Bast***s as well. Rather than deport them, just shoot them before they multiply!

[bajajohn1]

This is a negative news article for a couple of reasons. First, it spreads doom and gloom and secondly, the article does account for the can-do attitude of the American people. If you are unemployed and have a home or apartment, start working around the house. Clean the yard, mend the fence, paint the house and any other myriad of things people can do other than sit around and fret hoping for the economy to get better. Roll up your sleeves and get to work around the house.

[jxknowles]

Maybe it's not bad that our kids will do with fewer material possesions. When I see TVs in every room of a house, including the bathroom, garage and cars, I know we are living to excess. I tell my charges about spending all day in the summer riding bikes, playing ball, fishing, hiking through the fields and they think I was privileged.

As long as we have affordable health care, an honest wage for a hard day's work, life's necessities and hope for a reasonable retirement, maybe we will all be richer.

[excoachken]

Yes it will. All the spoiled brats who grew up in the 70's and 80's with expectations of living in McMansions and sucking up Starbuck's at poolside will have to "down size" their gluttonous appetite for frills. It's back to basics for the wannabe eliteists.

[Socialistnation]

he Senate should subpoena Retired US Senator Phil Graham from Texas and start grilling him on who lobbied him to lift the finance and banking restrictions; how much his bill was debated; who opposed him; and how much cash was in his campaign treasure chest before he retired; AND who his next employer became.

Posted by pensacola8-2009
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Come now, we already know the banking industry had been lobbying for less regulation and oversight for decades, and that phil gramm was the chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs between 1995 and 2000. During that time he spearheaded efforts to pass banking deregulation laws, including the landmark Gramm-Leach-Bliley Act in 1999, which removed Depression-era laws separating banking, insurance and brokerage activities.

It was this republiCON bill that repealed parts of the glass-steagall act of 1933, and just like the deregulation of the Savings and Loans in the 1980's which brought about more taxpayer bailouts, phil gramm was instrumental in helping bring about the financial mess and more bailouts in 2008/2009.

It was the banking and financial industry lobbyists putting money into gramm's pockets as well as the rest of his republiCON buddies that led to the current debacle!
Posted by evilbusheviks at 8:55 AM : Mar 28, 2009

Why don't you look into who voted in favor as well as vocally supported the repeal as well who signed it into the law and then blame all of it on the evil Republicans. This is just ridiculous.

I will give you a hint, Shumer, Dodd, Biden, Bayh, Hiollings, Landrieu, Rockerfeller, Lautenberg, Kerry, Torricelli, Daschle, Baucus, Cleland, Edwards, Durbin, Kennedy and of course Harry Reid,

Any names look familiar?

[Socialistnation]

So, yes, spending will be down and that is something business needs to get used to but overall... if people aren't spending money they don't have... then the economy will be able to grow... real growth... not plastic growth.

Posted by FHMullane
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While I do agree that "plastic growth" has been off the charts for quite a number of years, without the consumer or business spending, the government needs to spend money or else you'll be seeing even more businesses going OUT OF BUSINESS and giving more Americans PINK SLIPS adding to the worst unemployment already since 1983.

This is exactly why the party of NO -- the republiCONS -- are completely wrong here, and the majority of Americans can see that they are wrong, since spending needs to be increased one way or another, and unlike during bushworld where we spent more and more on WARS and the military/industrial complex, we had much less federal revenue due to tax cuts for the wealthiest Americans, leading to a doubling of the national debt.

Now we need to borrow and spend like the republiCONS first began in 2001, or else our economy will continue to fall into the abyss for years to come!
Posted by evilbusheviks at 8:35 AM : Mar 28, 2009

Common sense says that when you spend too much you cut back your spending. Only Politicians say to spend more. When you say "Government" needs to spend money, the Government has no money, it is the Taxpayers who will be spending only with the Government controlling where it goes.

I prefer to decide where my money goes and it is only acceptable that my children and their should decide where there money goes as well.

Also you statement regarding the Government collecting less revenue because of the Bush tax cuts is completely basely and a lie. as well the Total war costs were about what Obama proposed in the Omnibus budget to cover the Government spending from now only until September.

Obama is spending us into an abyss. He has broke all of GW's spending records and doubled it in less than 8 weeks what took Bush 8 years.

The economic outlook with this much spending is dim. I would also argue that the spending as well will have little effect on the economy as most of it does not even contribute to "stimulus" In fact 85% of the American workforce is non Union and polls show they want to stay that way. Yet the Obama "pay back Stimulus plan" only awards construction jobs to Union houses, meaning that only 15% of the workforce will have an advantage via the infrastructure spending the Taxpayers not the Government will spend.

Do you think that non union workers don;t pay taxes and do not need jobs? They prefer to not be unionized yet the Red Party in the WHite House and Congress are requiring them to be so to get any aid.

[perk235]

When WILL Obama end the free trade that's robbing our jobs and wrecking our economy?
Posted by sndkzyaa at 7:54 AM : Mar 28, 2009
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He has already begun by fighting for removing the tax breaks (i.e., welfare from US government) to corporations who outsource.

Right now companies get tax breaks FOR outsourcing.

[ontheleft]

'Everyone in the world knows if it becomes legal you'll be growing it at your house. No industry, no employment, no tax revenues.
Looking it up on the internet, it's as difficult to grow as Dallisgrass or Johnsongrass. That's why they call it "weed". "
Posted by payasyougo at 7:01 AM

Tobacco is easy to grow, too. But even though cigarettes are $7 a pack, you don't see people growing their own tobacco. As it stands now, most people who smoke cannibius do not grow their own. That's why so much is imported.

Taxing cannibis would in fact result in lots of revenue for the government, just like alcohol and tobacco taxes.