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  • Jorge_Sylva Jorge_Sylva Feb 5, 2010 1:24 PM Flag

    realistically unemployment recovery takes time

    If you look back at the last very serious recession (1980), it took time for the jobs situation to improve itself. When Ronald Reagan was elected in 1980, the outlook was very grim indeed. It was still grim in 1981 and in 1982. In fact Reagan's "approval rating" was even lower than Obama's at this point in his presidency. Unemployment reached a high in June 1983, two and a half years into the Reagan presidency and after a huge prolonged stimulus program. Deficits soared at those times too. However, it is only after June 1983 that Reagan began to reap any of the credit that some acknowledge in is legacy. Before June 1983 he was toast. Also, you should recognize that the stock market forsaw the recovery in mid-August of 1982 (the 20th month of the Reagan presidency). Those of you who think that you see the sky falling at this time are either too young and don't know your 20th Century history or you just like to be pessimistic. IMHO, today's jobs figures were right in line with what I would expect for some time to come. The point is that the damage that was done by two wars and no sensible policy for the preceding 8 years cannot be repaired overnight. There is no dentist that can fill "the cavity" just like that. It will take more time. If you like spin, listen to Fox News, but if you like reality, then grow some patience and read your history.

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    • I don't think so. Bush was robbing Peter to pay Paul. He raided social security and medicare trust funds to fund the wars and did not have to report those figures in his annual budgets. That should have been illegal (it would be criminal under GAAP), but he got away with that and a lot of other stuff. You also fail to point out all the good constructive spending that Bush should have been spending money on and did not, led to America's decline and Obama is now trying to close some of those gaps. (e.g., did you know that our life expectancy rank is now 38th in the notch below CUBA (source CIA's 2009 report), and yet you guys try to tell us we have the "best health care in the world". Yeah right. When is the last time you went to a doctor in this country? Give me a break with your lies.

    • jorge good posting. why don,t people see that.

    • But may be you have not noticed the right phone gadgets are recession proof....and coffee....Apple went from 72 to 208 in the worst market in years ...rimm went from 30-65...THIS COMPANY CANNOT BLAME THE ECONOMY ...their float is so small all they have to do to have a dollar eps is earn about 31 million...give me a break...there are car dealers that earn more than that. They have launched a product world its up to them

    • "Deficits soared at those times too."

      Budget deficits in the 80's were a mere spit in the ocean as compared to what the Obama guy is generating.

      As in anything excessive there comes a breaking point.

      Budget deficits in the 80's were in the Millions, today in the TRILLIONS is a completely different world.

      The guy currently running the country doesn't seem to comprehend the magnitude.

      And to be honest I don't think he cares.

      • 1 Reply to this_isnt_my_real_alias
      • Who was responsible for the deficit that we had in the fiscal year that ended on Sept. 30th, 2009 (and the 7 trillion in debt prior to that)? Like I said, this is not a cavity that can be filled just like that when we have a recession. Have you ever taken an economics course? No, I don't think you even need to answer. Also, the 10% unemployment that we have now is not Obama's doing. There were tax incentives to send those jobs overseas. How soon we forget the facts. Or are we just prone to "truthiness". Oh, truthiness, it is so comforting. The problem is that it is not "Truth".