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Economic Growth At 0.2%.  
User currently offlineTbar220 From United States of America, joined Feb 2000, 7013 posts, RR: 26
Posted (13 years 1 month 4 weeks 5 hours ago) and read 713 times:

Dear All,

Tell me what you think on this.

The GDP growth level for the past quarter was 0.2%, the lowest since 1993.

In an online article that I read online, the following was said...

"Private economists and the Bush administration are counting on nearly $40 billion in tax rebate checks and the aggressive credit easing by the Federal Reserve (news - web sites) to lift the economy to higher growth rates in the second half of this year."

Now I'm not looking at this as a Democrat or a Republican. But I took economics last year, and I don't see how the tax cut can affect the economy that quickly. Perhaps I'm wrong, but I think these "private economists" are being a little too optimistic here.




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User currently offlineConfuscius From United States of America, joined Aug 2001, 3868 posts, RR: 1
Reply 1, posted (13 years 1 month 4 weeks 5 hours ago) and read 704 times:

Worst yet, the national debt will be one trillion dollars more than current CBO projection. Although, it'll still be a reduction.


Ain't I a stinker?
User currently offlineMx5_boy From , joined Dec 1969, posts, RR:
Reply 2, posted (13 years 1 month 4 weeks 4 hours ago) and read 697 times:

Tzvika,

Generally speaking, a lot of economist's will suggest taxation cuts to get people out there spending more money to boost GDP. Sometimes it works, sometimes it doesn't.

mb


User currently offlineCarioca Canuck From , joined Dec 1969, posts, RR:
Reply 3, posted (13 years 1 month 4 weeks 4 hours ago) and read 697 times:

It's better than being down 20 %.

User currently offlineTransactoid From Canada, joined Mar 2001, 788 posts, RR: 0
Reply 4, posted (13 years 1 month 4 weeks 4 hours ago) and read 691 times:

Bah. I wish everyone would just turn off the financial news report.

The economy is a perfect example of a self-fullfilling prophecy.....


User currently offlineTbar220 From United States of America, joined Feb 2000, 7013 posts, RR: 26
Reply 5, posted (13 years 1 month 4 weeks 2 hours ago) and read 685 times:

True Mx5, theoretically speaking, a tax cut will boost the economy. In a perfect world, that will always work. A tax cut increases investment and consumption, thus driving up GDP.

Yet in todays world there are many other factors, many, many factors that we cannot begin to contemplate. And from history, I think it takes longer for a tax cut to actually affect the economy than a single economic quarter. And if the economy is worse than predicted, a tax cut may not do any good if it is not enough (that is a whole 'nother argument, some thing the tax cut is too much, some think its not enough, lets not get into that).


 Smile Tzvika  Smile



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