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"He can't fix the economy in four years."
"It took eight years to create this mess, it'll take eight years to fix it."
How do we compare to other recessions?
U.S. history provides no support for linking low employment and high unemployment in the current recovery with the financial crisis of 2007–2008.
Table 1 shows that employment was back above the pre-recession peak in every post war recession except this one within 3 1/2 years from the start of the recession.
Charts 1 and 2 show the U.S. civilian employment rate and total civilian employment. Judging by these measures, the current U.S. recovery is atypical and very weak compared to other post World War II recoveries. As chart 1 indicates, the unemployment rate has remained persistently high since the recession, persistent in a way that did not occur in any other recession since World War II.1 And as chart 2 indicates, employment has leveled off since the recession instead of resuming its typical, continued rise.
For those of you who trust science, let me repeat part of their conclusion. Recent research supports the idea that the Great Depression and this Great Recession can be explained by uncertainty and governmental policies. It will be helpful for future discussions if we don't start from the premise that it takes more than four years to fix an American economy, unless you have some extraordinary evidence.
The recent slow recovery is most similar to the Great Depression. Low aggregate demand for reasons unrelated to the financial crisis may be an explanation for both episodes, but uncertainty and government policies are an alternative supported by recent research on the Great Depression.
What about the elephant in the room, aka the military budget. 30 million in foreign aid is peanuts compared to the elephant.
Originally posted by zonetripper2065
Maybe we could start by cutting out the 30 million dollars a year we spend of foreign aid.
A Trillion Can't Be THAT Much More, Can It?
Million, billion, trillion ... all big numbers. A trillion is just a bigger number, right? True ... but it may be bigger than you think. A million is hard enough to imagine, much less a billion. We need some perspective on what these unimaginable numbers really mean.
Let's Measure a Trillion in Numbers
We'll start simple: how big is a trillion on paper?
1,000 = one thousand
1,000,000 = one million
1,000,000,000 = one billion
1,000,000,000,000 = one trillion
A million is equal to a thousand thousands (1,000 x 1,000).
A billion is equal to a thousand millions
(1,000 x 1,000,000).
A trillion is equal to
a thousand billions
(1,000 x 1,000,000,000)
or a million millions
(1,000,000 x 1,000,000).
Let's Measure a Trillion in Time
How Long Ago Is a Trillion Seconds?
If you count backward, then:
1 million seconds = 12 days ago
1 billion seconds = 31 years ago
1 trillion seconds = 30,000 B.C.
(give or take a decade or two)
Let's Measure a Trillion in Height
How high is a trillion in $1000 bills?
If you stack a trillion-worth of $1000 bills together, then:
1 million dollars = 4 inches high
1 billion dollars = 364 feet high
1 trillion dollars = 63 miles high
(give or take a foot or two)
Note that this is a STACK, not laid end-to-end.
Given that? I know my Grandfather lived through much worse in the late twenties and early thirties. Though he and my father are both long dead, I will always remember their tales of that period - of the wandering families, who would send one child to each door in an area, to beg food. Of the dust bowl and my families exodus from Oklahoma to northern California.
Arrogant? No, I just want us to take care of ourselves as well as we can. If the US collapses, the world won't do well at all. (And I don't watch FOX news.)
Are you so Arrogant to think the US will Prosper, when Globally , Countries are failing.
Fixing an American economy doesn't take eight years. That's misinformation and dangerous misinformation at that.