Comments on: Video: Biden econ adviser says employment won’t rebound for eight months

By: rhodeymark

rhodeymark — Mon, 02 Nov 2009 11:35:20 +0000

That chart was a joke long ago. See here where actual UE starting diverging from fantasy the minute it was printed. Unicorn Chart

By: onlineanalyst

onlineanalyst — Mon, 02 Nov 2009 02:43:50 +0000

I think our so-called president has a major credibility problem. It comes from too many lies.

tarpon on November 1, 2009 at 1:22 PM

Don’t worry though. Anita Dunn is doing a heckuva job controlling the message. Uh, yeah, right.

By: onlineanalyst

onlineanalyst — Mon, 02 Nov 2009 02:40:27 +0000

I’m not exactly sure when, but I think the Bush tax cuts expire in 2010…I’m not sure if that’s what you were referring to…that’s going to be huge.

AUINSC on November 1, 2009 at 1:14 PM

Yes, and wait until the crybabies who claimed that “only the rich benefitted from the tax cuts” find out that they were also part of the “rich” who benefitted from those lower taxes. Expect fireworks.

By: meMC

meMC — Mon, 02 Nov 2009 02:03:04 +0000

Harry Smith sounds convinced with every m-hmm, m-hmm.

By: dogsoldier

dogsoldier — Mon, 02 Nov 2009 01:00:17 +0000

It hasn’t failed at all. It’s doing exactly what they had planned. Right before next years elections there will be 2 months of positive economic news.

p0s3r on November 1, 2009 at 12:59 PM

By then the economy will be REALLY cratered. Unemployment is already affecting sales. We passed the tipping point two months ago.

But you know what? It won’t improve then either.

By: onlineanalyst

onlineanalyst — Mon, 02 Nov 2009 00:24:35 +0000

Many of those jobs “created” were temporary in nature. Some such as the teachers and policement are the responsibility of school districts, local communities, and states.

This man is trying to paint a rosy picture with some weak tea.

By: kurtzz3

kurtzz3 — Sun, 01 Nov 2009 23:44:00 +0000

Is it me, or does Harry Smith seem very un HopeyChangey this morning?

By: Liam

Liam — Sun, 01 Nov 2009 22:48:10 +0000

Under Bush it never would have happened at all.

So don’t you right-wing conspirators DARE devalue the Majesty.

~goes to yak on my own sarcasm~

By: Dr. ZhivBlago

Dr. ZhivBlago — Sun, 01 Nov 2009 22:22:26 +0000

Trying to figure out the significance of eight months? Must have something to do with next year’s election cycle…like they can say, “Vote Dumocrat! Prosperity’s just around the corner! We said as much last November!”

And then they’ll probably go on to win.

By: Jimbo3

Jimbo3 — Sun, 01 Nov 2009 21:59:41 +0000

From Wikipedia, AUINSC:

The Tax Increase Prevention and Reconciliation Act of 2005 (or TIPRA, Pub.L. 109-222, 120 Stat. 345) was enacted on May 17, 2006.

This bill prevents several tax provisions from sunseting in the near future. The two most notable pieces of the bill are the extension of the reduced tax rates on capital gains and dividends and extension of the alternative minimum tax (AMT) tax reduction.

By: Jimbo3

Jimbo3 — Sun, 01 Nov 2009 21:58:08 +0000

Jimbo3 on November 1, 2009 at 2:03 PM
Yeah, maybe true…I got it from here:

http://www.heritage.org/research/taxes/wm956.cfm

AUINSC on November 1, 2009 at 2:05 PM

I’m pretty sure they passed a bill in 2006 to extend the tax cuts.

By: Rambotito

Rambotito — Sun, 01 Nov 2009 20:45:34 +0000

You suckers should have gone into the fruit fly breeding business. Drosphila Melanogaster is where it’s at in this economy. We are rolling in the cash right now, I might even hire some more people. /s

By: burt

burt — Sun, 01 Nov 2009 19:41:01 +0000

title he shouldn’t be so proud to hold. It’s going to be a resume killer.

sherry on November 1, 2009 at 12:50 PM

It should be but some people (usually dems) get away with murder.

If this putz says 8 months, then you can count on it being more like 18 months.
UltimateBob on November 1, 2009 at 12:50 PM

I expect it to be more than your minimum estimate.

The dems can hire three thousand “chief economic advisors” and it wouldn’t help at all,
UltimateBob on November 1, 2009 at 12:56 PM

I don’t agree. This could count as 0.1% of the $3M jobs that BO claims.

AUINSC on November 1, 2009 at 12:54 PM

Everyone should read your paragraph.

For reasons I haven’t discerned the block quotes are my comments.

By: ya2daup

ya2daup — Sun, 01 Nov 2009 19:10:07 +0000

Jared Bernstein, chief economic adviser to VP Joe Biden

Does he work the Magic Eight Ball and ~~Lunchpail~~ ~~Sheriff~~ In Country Joe asks the questions or vice versa?

By: Freddy

Freddy — Sun, 01 Nov 2009 18:51:54 +0000

The White house is going to have to start explaining WHY their policies are putting the US into a SECOND recession.

They will also have to explain what their new policies for ending this SECOND recession are going to be.

Of course, a depression is historically defined as multiple consecutive recessions. Seems like a third one when those Bush tax cuts are ended will be the straw that brings that discussion to the front. But, with 500 billion in tax increases in this health care grab on the table, and Pelosi looking for a new national sales tax (VAT), and of course cap-n-trade (aka cap-n-tax – aka tax-n-ration), there could be many causes.

By: Star20

Star20 — Sun, 01 Nov 2009 18:40:39 +0000

Appropriately enough, it sounds like somebody farts when Bernstein first mentions the jobs being “created or saved.”

By: Star20

Star20 — Sun, 01 Nov 2009 18:22:03 +0000

Why? Because that’s how long it will take to make every American a public employee?

By: AUINSC

AUINSC — Sun, 01 Nov 2009 18:05:37 +0000

Jimbo3 on November 1, 2009 at 2:03 PM

Yeah, maybe true…I got it from here:

http://www.heritage.org/research/taxes/wm956.cfm

By: Jimbo3

Jimbo3 — Sun, 01 Nov 2009 18:03:09 +0000

Taxes on dividends will increase beginning on January 1, 2009;
*
Taxes on capital gains will increase, also beginning on January 1, 2009

AUINSC on November 1, 2009 at 1:30 PM

–Tax rates on qualified dividends change in 2011, not 2009. I think the same is true on capital gains.

By: Cindy Munford

Cindy Munford — Sun, 01 Nov 2009 17:59:57 +0000

the Allah-bashing that goes on here defies belief sometimes.

AUINSC on November 1, 2009 at 1:48 PM

+ 1 trillion

By: Lew

Lew — Sun, 01 Nov 2009 17:59:48 +0000

The ungoverned and unstimulated economy would very likely begin generating jobs much sooner than any Keynesian is capable of understanding. The problem is going to be that the so-called “stimulus” package will be buried under the additional load of Cap-and-Trade, Card Check forced unionization and the expiration of the Bush Tax Cuts. In fact, the inevitable flight of capital from an economy growing more hostile to free enterprise every day toward markets of greater freedom and higher returns is well under way.
Even the fastest pony in the stable can’t win the race if you load it down with 1200 lbs of dead weight!!!!
Good Luck

By: Cindy Munford

Cindy Munford — Sun, 01 Nov 2009 17:59:09 +0000

georgealbert on November 1, 2009 at 1:45 PM

Well first you might need to ask Mr. Morrissey since he wrote article for this thread.

By: AUINSC

AUINSC — Sun, 01 Nov 2009 17:48:04 +0000

georgealbert on November 1, 2009 at 1:45 PM

Huh?!? I don’t remember Allah ever ‘giving him credit’ for anything except being a demagogue and far lefty trying to look like a moderate…the Allah-bashing that goes on here defies belief sometimes.

By: bluemarlin

bluemarlin — Sun, 01 Nov 2009 17:46:03 +0000

This is good news for the Party of No!! Enjoy!

simplesimon on November 1, 2009 at 1:26 PM

I think we know the GOP has offered many plans that have been totally ignored. I also think you really do understand that there is some bipartisan agreement going onit just pisses you off that the Dems are agreeing with the Repubs.

To further the theme of NO though, maybe had someone actually told you NO at some point in your life you woul d have grown up by now and would be able to look at hings with logic and common sense. Instead you sit at home and look at all your 10th place trophies is my guess.

By: georgealbert

georgealbert — Sun, 01 Nov 2009 17:45:46 +0000

Bernstein was on Kudlow’s show quite a bit before he began working for Biden. Even though I disagree with many of his economic analysis, he is an honest guy so he should be commended for this, not criticized. The people that need to be criticized are the media folks, like Allahpundit, that bought the crapola Obama was selling when he was running. Obama is a total economic illiterate and this was clear from the beginning and yet people like Allahpundit were giving him credit as being a moderate reasonable person. How is that Hope and Change working for you now Allahpundit??