Why would anyone trust any economic prediction made by the Obama admin?
Not a single economic prediction made by the Obama admin has come to pass, not a single one.
"I will cut the deficit in half by the end of my first term" He didn't even come close.
They predicted that unemployment would never go above 8% if the stimulus package was passed. It did.. in fact, unemployment hasn't matched white house predictions at any point since they were made.
Obama care cost far more than was predicted, in addition to the other obamacare related lies (no taxes on anyone making under $200,000, etc).
We were told the sequester cuts would immediately bring the country to its knees. They didn't
There are many, many more examples.
The Obama admin is now telling us this about Obamas budget 'Every new initiative in the plan is fully paid for, so they do not add a single dime to the deficit,'
Given their record, I don't buy it, do you?
- 8 years agoFavorite Answer
Well, assuming that anybody here has studied even intro economics, you'd realize that the economy is not very dependent on the government's actions (well, anything short of complete absorption) but rather the private sector. The fact that the DOW is at its highest in over a decade and that the dollar is gaining strength shows that the economy is on the rebound. Try listening to foreign media instead of American media. American media is too biased to clearly show the real story. All in all, you can say that Obama oversaw one of the greatest economic comebacks in history. The housing market is getting stronger, corporate profits are up, stocks are up, investment is up, inflation is up (THIS IS GOOD!), and although you may not believe it, employment is up.Source(s): Studied economics at an Ivy League school
- Kiran CLv 78 years ago
Good predications are based on good assumptions. He assumed Congress would work to forge a Grand Bargain. He assumed the ecomony would shrink by 4%, not by 9%.
"The right claims the stimulus failed because it didn’t bring unemployment down to 8 percent in its first year, as predicted by Obama’s transition economic team. Instead, it peaked at 10.2 percent. But the 8 percent prediction was made before Obama took office and was wrong solely because it relied on statistics that guessed the economy was only shrinking by around 4 percent, not 9. Remove that statistical miscalculation (made by government and private-sector economists alike) and the stimulus did exactly what it was supposed to do. It put a bottom under the free fall. It is not an exaggeration to say it prevented a spiral downward that could have led to the Second Great Depression."
As for the increased costs for the Affordable Care Act, those who explained about the increased costs forget the increased value of the offsets so despite the increased costs the Affordable Care Act will still reduce the deficit by a small percentage in ten and in twenty years.
No one is saying the sequester will bring the US to its knees but it will lower employer and there is not often private sector spending to make up for it.
- mommanukeLv 78 years ago
1. I will cut the deficit in half. Although he has not cut it in half, he has for the last four years lowered the deficit. Feel free to illustrate how any Republican president has done that.
2. That prediction about the stimulus would only have applied if he had gotten the stimulus he asked for instead of being forced to accept one third of what he asked for, and half of that was tax cuts and not actual stimulus.
3. You have no evidence of what Obamacare costs, since it has not yet gone into effect. What you have are "predictions", which I notice is what you were complaining about.
4. Feel free to provide evidence that anyone told you the sequester would bring the country to its knees immediately. They didn't, and you are so short sighted you can't even conceive of waiting to see. Many of the job cuts haven't even taken place yet. The 6,000 position cut in border guards won't even take place until next Monday, and that will not crash the economy, and certainly not immediately. I'd tell you to combine that with the other jobs that are being lost, airports that are being closed, benefits that are being cut, etc., but you can't do that because all you want is one answer one time.
5. Have you examined the budget yet, or are you just making assumptions based on your ignorance and hatred of the President?
- Anonymous8 years ago
I don't believe anything that Obama or, for those of you that claim I am a racist because I disagree with and don't trust Obama, any liberal politician says without independent verification. The only reason I believe he got Osama is because the Seal Team says so. Other than that, I would not even believe that.
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- 8 years ago
Don't confuse the deficit with the debt.
ObamaCare hasn't even been full implemented, so don't jump your gun.
Other than that, good point.
- ErikLv 78 years ago
But I totally trust you
Carter told the truth, and we saw how well that worked for him. Obama is just being optimistic - for your benefit.
- 8 years ago
most economic predictions have failed miserably...
economists who lean left said we would have great recovery... that hasn't happened... it's been slow and plodding at best...
economists that lean right said we would fall into a depression... more gov. spending would pull down the economy deeper, when it was already in a dive... that hasn't happened either... numbers have improved, be it very slowly...
- bobemacLv 78 years ago
Any sane person wouldn't...FACT!!