Government Agency Predicts Economic Uptick

Congressional Budget Office Says Stimulus Bill, Interest Rate Drop, Will Boost Economy

(AP)  Moves by Congress to pump money into the economy and by the Federal Reserve to lower interest rates will generate a slightly stronger economy this year, Capitol Hill economists predicted Friday.

The economy will experience real growth in gross domestic product of 1.9 percent this year, the Congressional Budget Office predicted, a 0.2 percentage point increase over estimates produced by the agency in early December and released last month.

The effect of the fiscal and monetary policy moves more than make up for a softening in the economy since CBO economists finalized their prior forecast of 1.7 percent growth. The agency did not say how much of the anticipated increase in GDP was due to the recently passed economic stimulus bill.

"The impact of monetary and fiscal policy stimulus slightly outweighs the deterioration in economic conditions," CBO Director Peter Orszag wrote in a letter to Senate Budget Committee Chairman Kent Conrad, D-N.D.

CBO produces nonpartisan budget and economic estimates for Congress.

The agency's updated estimate predicted a 2.3 percent GDP growth rate in 2009.

"Although CBO's projections do not show the slowdown in economic growth becoming severe enough to meet the economic definition of recession, the risk of a recession remains elevated," Orszag wrote. "Economic activity will remain subdued for some period as the economy continues to work through the effects of problems in the housing and financial markets and the high price of oil."

[rowdytexan2]

Oh this is priceless! ROFL!

I''m sure all those who drink the Neocon blood are just going to love this!

[vet999999]

UPTICK? Does that have a definition? is that like a burp? geezzz CBS, lets use grown up words...

[olebd]

Prop-a-ganda cha, cha, cha!

Wonder how much gas is going to "uptick" this summer because of the excuse that everybody is driving somewhere for vacation?

[hsinco-2009]

Uptick in Neo-Con speak is just like Bu$h''s "Healthy Forest Initaive". Bizarro world.

In Bizarrc world, all you Superman comics readers will remember it''s where everyting is opposite of what it sounds like.

Up = Down


Uptick? LOL HAHAHAHa

[trillion1]

The only "uptick" I can see is with warmer weather people won''t have to spend as much to heat their homes. Other than that it''s just goverment wishful thinking.

[songbird21]

To FloydZepp

Gee, we could vote for Obama - he wants to fix our economy by created billions of dollars worth of low wage jobs paid for by increasing corporate taxes (= elimination of jobs and increase in consumer prices by corporations) and increasing individual taxes (= less money for people put back into our economy.) Oh, and I forgot to mention - higher govt spending = higher deficit. Yeah - that''s the way to go.

[cattlekate]

UPTICK? Does that have a definition? is that like a burp? geezzz CBS, lets use grown up words...
posted by vet999999 at 07:07

I think it is a *quiet **** so we don''t notice how inflation is doubling our grocery bills.

[iceman_1960]

"Uptick" is being used metaphorically in this story.

Technically, an uptick is a stock transaction occurring at price above its previous transaction. In order for an uptick to occur, a transaction price must be followed by an increased transaction price. This is commonly used in reference to stocks, but it can also be extended to commodities and other forms of securities.

The term was coined by novelist John Uptick in his novel "Rabbit, Run."

[pollroller1]

I got a tick off my dog the other day.

[tburzio]

Actually, saying positive things does have a good effect on the economy. What people spend is determined by feelings, and many purchases can be put off till later if people feel threatened. If you want a job, buy American. If not, prepare to be unemployed.

[fightfascism]

whew! that''s great news, and here I thought an immoral and unjust war, not to mention outsourcing our jobs to communist labor, might be big drains on the economy and cause us economic hardship. I''m glad the ministry of truth, I mean the propaganda wing of our own government, is here to comfort and reassure us.

[byeneocons]

Oh Thank God! Here I thought Reaganomics and Bush Trickle down theories had affected the housing market, mortgage rates and unemployment! Just knowing that second check from Bush is on the way makes me feel all warm and fuzzy.

Meanwhile, in Iraq....

[fightfascism]

here''s a suggestion for that second check and what I''ll be doing with mine: donate as much of it as you can to a fund to impeach bush and cheney. then, by cleaning house of these neocon commies, maybe our economy can start the 20 year process it''ll need to get humming again.

[randynason]

Corporate gross income may be slightly offset, but simple American workers will be the ones who get f*ed in the end, as usual. Frankly, Bush can take his rebate proposal that puts the U.S. another 1.5 trillion dollars in debt and shove it. By the time the dipstick leaves office, the U.S. deficit is 4 trillion.

[l8c6]

They must have this down to an incredible science. I wonder how many actually are involved in pulling the strings hanging from most of us?

[singingrick]

The Bush Budget Deficit Death Spiral


Lenders talk about a %u201Cdebtor%u2019s death spiral.%u201D It occurs when borrowers get so far in over their heads they begin borrowing money just to cover the interest payments on past borrowings. The borrowers have to do this to keep the lending flowing but they can no longer plausibly pay down the principal. As new debt compounds on old, bankruptcy becomes imminent. Further lending is foolhardy. Foreclosure is only a matter of time.

The U.S. is starting to look like it is entering just such a death spiral. It is foretold not simply by the large and growing deficits, nor by the fact that their carrying costs will rise quickly as interest rates rise. Rather, it is the fact that these trends are becoming irreversible, a structural part of the U.S. economy.

When the ultimate collapse will occur, whether it comes with a bang or a whimper, how it will be triggered, and how severe it will be are as yet unknown. But as Herbert Stein, Chairman of the Council of Economic Advisers under Richard Nixon was fond of saying, %u201CThings that can%u2019t go on forever, don%u2019t.%u201D

[incog-nito]

When you pay your credit card debt with another credit card, I''m sure you feel better for a while too.

[brianbwb-2009]

the first two tag lines under the "business section;

* Government Agency Predicts Economic Uptick | Comments21
* Fed Chief: Outlook Bleak, More Cuts Likely | Comments174

One of these stories is a blatant lie, I say it is the "government agency".

To singinrick, I can explain both whimper and bang;

Whimper: the $1.5 trillion of debt that your war criminal hero Bush sold to the Chinese, will diminish in value as the US economy continues to collapse, and the Fed cuts rates, in a futile effort to "kick the dying horse". The Chinese, being very concerned about all things money, and demonstrating a herd mentality akin to the US'' tendency towards "war fever", will dump the debt on the open market to cut their losses, further devaluing the dollar until it reaches the point where OPEC, moving to protect the value of its'' oil, switches to the Euro as the currency of payment. The US$ then becomes worthless paper within two to six months.

Bang: If John McCain is elected, Mr. "bomb Iran", fulfilling your oft demonstrated desire to commit genocide against Muslims, launches a military strike against Iran, the Iranians in retaliation, choke off the flow of oil through the Hormuz, almost instantly driving oil prices above $150 per barrel, pushing the dollar rapidly past the point where the Chinese and OPEC are forced to simultaneously act to protect their own economies, as described above. Twelve hours later, the US dollar is confetti.

[gce65]

An UPTICK? This administration is an upTICK on my nutsack! They''ve driven a good economy into the ground with their stupid war and tax cuts for the rich.

[mediapreachr]

Economic "uptick"?What kind of Gov.Agency is this-maybe from the dept.of hot air-ROFLMAO.
I "predict" that if they will hire me,I can do that better and even cheaper than any yesman.

[gedeon9999]

The Govt is got to be joking. I'',m sorry folks but with 1 million more homes whose rate is adjsuting and another 1 million homes in 2009 I would say we are in deep trouble

[watcher269-2009]

Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, joined with colleagues in the other 49 states in attempting to fill the void left by the federal government. Individually, and together, state attorneys general of both parties brought litigation or entered into settlements with many subprime lenders that were engaged in predatory lending practices. Several state legislatures,
enacted laws aimed at curbing such practices.

Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye.

The administration accomplished this feat through an obscure federal agency called the Office of the Comptroller of the Currency (OCC). The OCC has been in existence since the Civil War. Its mission is to ensure the fiscal soundness of national banks. For 140 years, the OCC examined the books of national banks to make sure they were balanced, an important but uncontroversial function. But a few years ago, for the first time in its history, the OCC was used as a tool against consumers. In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative.

[mcvet]

Putting yet another bandaid on the "Trickle Down" house of cards is NOT going to solve the problem. All that does, if successful, is delay the collaspe. The most basic problem and will remain the problem is simply that all that money that has been thrown at the Wealthy over the last 3 decades is GONE! It did NOT "Trickle" down to you or me. It was NOT put back into the American Economy. It was used to invest in OTHER nation''s and used to move MILLIONS of good paying jobs to OTHER nations. Now add to that the COST of Bush''s War, the cost of that enormous debt, the credit crunch and there you have it. The House of Cards built by George W. Bush!

[watcher269-2009]

Government Agency Predicts Economic Uptick


TOO BAD IT IS NOT FOR THE UNITED STATES!

[anonbene]

I hate the word, uptick.

[jjp735i]

A government agency predicted Iraq had WMD. How can we trust anything a Bush run agency puts out?

[olebd]

Uptick? More like upchuck!

[olebd]

On the bright side, the nation''s obesity problem will quickly be eliminated as more and more people can''t afford the skyrocketing price of food.

[trillion1]

I noticed the neocons avoid commenting on any story they can''t try to spin in their favor.

[brucebessell]

The government caused the problem through their intervention.

So, they are going to intervene again and fix it?

These are politicians who know nothing of even the business of government. All they know is how to get elected and hold office.

They are the problem, not the solution.

[jerkeedoodle]

Help me out here,I need an "economic uptick." I''ve been appointed the selling agent for the Brooklyn Bridge.If you believe the story above,please contact me.I can get you in on the ground floor of one heck of an investment!

[mcv57]

This chapter in American Economy should be labeled in history books: "How Many Ways to Copulate $10 Trillion Dollar Debt." Everyone should read: "The New Golden Age" by Ravi Batra, PhD Economics.

Bushman''s new business empire conquest - Africa.

[mcv57]

If the Africa campaign is not a success, the G7 financial senario will force the U.S. into bankrupcy.

[joyous88]

THE ECONONMIC SURGE IS WORKING! YEA!!

PROBABLY ABOUT AS GOOD AS THE OTHER FAKE SURGE;

AND WAY BETTER THAN OUR ''FAKE'' PRESIDENT

[strunke]

joyous88- wow, you have no idea what you are talking about do you? Go back to your Kool-Aid is getting warm.

[trillion1]

Noticed the best retort the bushbots can come up with now are insults. Guess thats all they have left since they can''t find a single good thing bush has done for America.

[trillion1]

Right under this story is one saying Fed Chief saying outlook is bleak. Can''t anyone in this goverment get their stories straight?

[tucano2]

"Prosperity is just around the corner!" said President Herbert Hoover as the country and the world plunged into a Great Depression so deep it took 50 Millions killed in WW2 to balance consumers with resources. History repeats. Here we go again, so hold on tight because it''ll be a bumpy ride not all will survive.

[brianbwb-2009]

If the Africa campaign is not a success, the G7 financial senario will force the U.S. into bankrupcy.

Posted by mcv57

August 19, 1972, the day that Nixon opened the treasury and sold the gold on the open market, because France and Singapore had more dollars than the US had gold to cover, was the day that America declared bankruptcy.

Where did the money go? into the pockets of Bechtel, Raytheon, Halliburton, and other Vietnam war profiteers, who together embezzled $13.5 trillion dollars from the US treasury (from 1956 to 1972, calculated in 1972 dollars) during the South east Asia murder spree.

Since then, the dollar has only had any value at all because Nixon got OPEC to agree to accept US dollars as payment for oil. If the Fed cuts more, reducing the value of the dollar, the Chinese will cut their losses, dumping their 1.5 trillion of Bush''s "war" debt on the market, which will devalue it further, sooner or later OPEC will have to protect the value of their oil, switching to the Euro, especially if "bomb Iran" McCain has his way.

At that point, the true effects of the original bankruptcy can be delayed no longer, the economy will collapse.

[jerkeedoodle]

EVERYTHING''S COMING UP ROSES...

[walt1944-2009]

Federal economists are saying that the economy will start perking up this year, thanks to the drops in interest rates by the fed and the "rebate" checks being sent to the citizens of the USSA, whenever the government decides to send those checks.

Of course, the average consumer has NOT personally seen any drop in interest rates, usuery fees and interest rates on credit cards are still high and will never go down unless there is a huge depression (very possible). Energy prices and food prices are still out of sight and medical costs are in a different galaxy.

At this point, anyone who believes anything the neocon Fascist Nazi government says is a Nazi themselves.

SIG HEIL, BUSH!!!

[mcv57]

... anyway, I would love to see China and France ask for their gold (from Ft. Knox). How many ways can you say, "In your dreams."

[speakinup]

You gotta love these shiftless idiots that proclaim doom at every turn. We got some dumbazz out there seig heiling every other post, and another that thinks our economy runs on gold.

Yeah - every village has an idiot - and every one of them thinks they have it figured out. Ya gotta wonder which rock they crawl under after they are proved to be wrong. Gee, I guess the one claiming Seig Heil had better get a new line - Herr Bush hasn''t become the dictator walter boy believes he is.

[kesac4650]

Our economy is actually very good. historic low interest rates. Historic low tax rates. Low unemploymnet, and almost no inflation. Anyone who is complaining is obviously not old enough to remember the Jimmy Carter years.
I really love the nonsnese that some how China is financing us. The entire Chinese investment in our bond market is only equal to about 15% of ouyr housing market. Countrywide alone is 2/3 the size of every thing China has bout in the US.

[pilgrimsway-2009]

Man files Federal Lawsuit against Obama regarding GAY oral act and drug use claims

A man named Larry Sinclair posted a video to YouTube claiming to have used cocaine and engaged in a gay oral act with Obama when Obama was a state legislator in 1999.

In the video, Sinclair claims he and Obama met on two separate occasions, that Obama used crack cocaine and that Sinclair performed an oral act on Obama both evenings.

Now Obama and company are quickly trying to quiet this man, but Sinclair has filed a federal lawsuit. Sinclair filed suit against Obama and his campaign guru David Axelrod in Minnesota district court for allegedly attempting to abridge Sinclair''''s right to free speech, and for waging an intimidation campaign against him.

check out the video on youtube for yourself:
http://www.youtube.com/watch?
v=sVeFVtcdSYY

America wants to know: where''''s the media coverage on this???? We deserve to hear the truth!

Posted by TruthBeTold- at 08:46 PM : Feb 17, 2008

[brianbwb-2009]

Posted by pilgrimsway

Seems to me that only cocaine using gay people who are fantasizing about an encounter with Mr. Obama would be even the slightest bit interested, or maybe those closet *** who hide their own proclivity behind outing and denouncing other gay people.

[brianbwb-2009]

"Our economy is actually very good. historic low interest rates. Historic low tax rates. Low unemploymnet, and almost no inflation. Anyone who is complaining is obviously not old enough to remember the Jimmy Carter years". Posted by kesac4650

Your sense of humor is dry, but very funny. The unemployment figures only count those still receiving, or filing first time, those who have been unemployed longer than six months are not even counted, if they were, you would find the unemployment the highest it has been post ww2

Low interest means nothing when the money is financing slave factories abroad, and if you don''t think that the price of gasoline and consequently everything else is not rising at a near record pace, then I suggest you look out the window, and open your eyes.

[trillion1]

Great rightwing response. "Get out of the country". There''s no room here for people like the founding fathers or real patriots. They just want sheep who never question the goverment and believe everything they are told.

[jwind11]

All is well,.....ignore your hunger, lack of money and employment, and all time record mortgage defaults,
.......all is well, tune in Faux Nooz and Rush Limpdickk for all your information, and ignore other sources of information.....remain calm,...all is well,.....don''''t question authority,......if beaten or tasered by Police entering your home uninvited, do not resist, allow searches and siezures of your property and possessions,....the Constitution is only a piece of paper, it is obsolete,......do as you are told, all is well,......


--------------------------------------------------------------------------------

Posted by veteran71


What?

[forthepeopl1]

``The Kosovars are now independent,'''' Bush said on NBC television''s Today program during a trip to Africa, according to a transcript. ``It''s something that I have advocated, along with my government.''''

CAN YOU SEE. BUSH SAY''S (MY GOVERNMENT) WHAT A A/S/S