Jon Kyl: 'We can't afford to raise taxes during an economic downturn'. Obama:

[Subdivisions]

'The economy is growing.'

So, which is it assholes?

[aquart]

1. They're both prevaricating. They're both wrong.

[indepat]

2. Thank God that after December 31st, it will no longer be junior's ruinous tax cuts for the

rich: the bad news is it looks like we'll no longer have junior to kick around. ;)

[Igel]

3. Neither.

Except that politicians need + or - values. If you're not in a downturn you're growing; if you're not growing you're in a downturn.

Bernanke pointed out that we're in the same jobs situation we were in in summer 2009, when the recession ended. We have slight economic growth. But we're not really growing. We're not declining. We're treading water.

You try jumping in the deep end of a pool and treading water for 15 months. It's not a stable situation. It's a fine magic trick to pull off, of course.

I hate magicians.

[midnight]

4. Washington allows the bankers to hand out 90 billion in bonuses this month to the top five firms..

So we can't allow the bush tax cuts to expire because come Jan 1 the working people could live without even less? But.... Obama will allow them to expire in two years..... Also President Obama talks about economic competition and education, research and development..... Infrastructure, and how to pay for it because of the debate on deficits. He doesn't think republicans will win the argument of extending this tax cuts because they cut vet services, and other vital services.... I feel like I'm listening to a loop of nonsense....

Barely a week after it was disclosed that bankers in the City of London will share a pre-crisis level £7 billion bonus pot – even though businesses cannot get credit – it has emerged that many bailed-out bankers are set for record payouts to themselves for the second year in a row despite the faltering economy in the United States and modest revenues.

Pay and bonuses at US banks and hedge funds are up 4 per cent – £90 billion – on last year according to a study of banks, hedge funds and other financial industry firms by the Wall Street Journal.

Bankers’ payouts to themselves are rising faster than bank revenues and now account for at least 23 per cent of profits, according to the study.
At bailed-out Goldman Sachs, which expects a 13.5 per cent drop in revenue, the bankers’ payouts to themselves will nevertheless go up by 3.7 per cent.

Similar generosity is expected at JP Morgan Chase, which received a monumental and secret bailout, and also has the highest number of home foreclosures of any bank. JP Morgan Chase has hired former Prime Minister Tony Blair as an advisor to its board.

The bonus pools for top-tier management have been kept high by laying off lower-paid staff, according to the Wall Street Journal study.http://www.tribunemagazine.co.uk/2010/10/bailed-out-bankers-set-for-another-bonus-bonanza/