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First Read is an analysis of the day's political news, from the NBC News political unit. First Read is updated throughout the day, so check back often.

Chuck Todd, NBC Political Director

Mark Murray, NBC Deputy Political Director

Domenico Montanaro, NBC News Political Reporter



Summers to cite 'substantial progress'

Posted: Friday, July 17, 2009 10:47 AM by Mark Murray
Filed Under: ,

From NBC's Mark Murray
The White House has just released excerpts of chief economic adviser Larry Summers'

 speech on the economy today. According to the excepts, he will say that the economy has made progress since the days when it looked like it was on the "brink of catastrophe."

"Though only a half a year ago, the distance we have traveled these past six months is remarkable," Summers is expected to say. "The economy was in free-fall at the start of the year with no apparent limit on how much worse things could get… Fear was widespread and confidence was scarce."

"We were at the brink of catastrophe at the beginning of the year but we have walked some substantial distance back from the abyss… Substantial progress has been made in rescuing the economy from the risk of economic collapse that looked all too real 6 months ago."

Summers, per the excerpts, will also discuss what the administration hopes the economy will look like once it recovers. "The rebuilt American economy must be more export-oriented and less consumption-oriented, more environmentally oriented and less fossil-energy-oriented, more bio- and software-engineering-oriented and less financial-engineering-oriented, more middle-class-oriented and less oriented to income growth that disproportionately favors a very small share of the population."

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Substantial progress? At what? Opening new unemployment offices?
The White House has just released excerpts of chief economic adviser Larry Summers' speech on the economy today. According to the excepts, he will say that the economy has made progress since the days when it looked like it was on the "brink of catastrophe."


Oh, this just so perfect. "We saved you from the evil monster!!" declares Larry. Right. Guess what Summers? YOU are the evil monster.
"catastrophe"  "crisis"  "disaster"  "catastrophe"   "free fall"  "emergency"  "crisis, crisis, crisis!!"

No, those dems aren't fear-mongers.  Not at all.

Any stats?
Just how much nonsense from the Obama administration ghouls can the country take?
It's all true, but the anti-Obama press will never report it.

http://www.political-buzz.com
Summers must be on the same planet where Biden saw all those jobs and re-hiring. It sure isn't the USA.
Things are about to change, although it will likely be despite Summers and Obama.  Ron Paul...yes, Ron Paul...is about to strike again.

H.R. 1207, a bill sponsored by Ron Paul that would require a FULL audit of the Federal Reserve (which, as one commentator pointed out, is more secretive than even the CIA), currently has 271 co-sponsors.  19 more and even Obama himself won't be able to stop it - provided it passes by the same margin in the Senate.  19 votes may seem like many, but the bill managed to pick up 11 in the last week alone.

Just imagine what we'll find out if and when a full audit of the Fed is completed.  For starters, I'll think we'll find that the government was far more complicit in causing the current crisis than the "rich and greedy" bankers.

Bipartisan transparency is about to come from Ron Paul...not Obama.
Larry Summers must inhabit the same planet that Joe Biden lives on-here on this planet,the economy is still in the tank, and looks to be stagnating there.

I don't understand the point of the Obama team going out and making speeches about things BEFORE the numbers come out.  They seem to believe that if they go out and tell their fairy-tales, no one will pay attention to the numbers when they do come out.  Hence, Biden and Summers go out talking about how wonderful the stimulus has been two weeks before the new unemployment numbers and GDP numbers are announced.  (It will be a double whammy-both come out at 8:30a.m. edt on July 31.)

Perhaps they believe that by making these speeches before the numbers are announced, they soften the blow.  

Seems like a weird strategy to me.  These speeches only serve to reinforce the idea that the Obama administration is divorced from reality.
Hey Willing to Work
  If you stop playing on your computer and get out and look there are jobs available.
  Unless you are too good to take a job for less pay.
When I got downsized in 1991 I took a job at 40% of what I was making.
  I was truly willing to work.
Yesterday, nobody knew how bad the economy was and today we are back from the brink of the worst economy ever. What?
Larry Summers has summarized the effect of the stimulus bill perfectly, we are no longer on the brink of economic collapse the way we were 6 months ago thanks to Clueless George and his repugnant one party who wrecked our economy with deregulation and tax cut welfare for the rich and greedy.  It took time to trash our economy and it will take time to recover from the mess Clueless George left behind.  If only people would have paid more attention to the fact he bankrupted his own oil company by borrowing from it without ever intending to pay it back.  Too bad his dishonest daddy killed the SEC investigation into his wicked son's thievery so that he would have been in prison instead of the White House.

"Eric in Salinas
You must be a very fast typist."  
Mike in Woodridge, IL

Hey Mike - That's got me laughing so hard, thanks for the comic relief.  I have ten reasons why I don't play arcade games - my fingers (and thumbs heck they're all thumbs).  I definitely am a fast hunt-and-peck typist, then have to try to catch my typos before posting.  Anyway thanks for thinking I'm a fast typist and have a great weekend!

Patience and Persistence will Recover our Economy!
"We were at the brink of catastrophe at the beginning of the year but we have walked some substantial distance back from the abyss… Substantial progress has been made in rescuing the economy from the risk of economic collapse that looked all too real 6 months ago."
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

No doubt…

New slogan for the Republicant’s:

I GOT MINE!
The hell with the rest of you!
To make matter worse a lot of banks were getting cheap credit from the THE FED.  Which sends the wrong message to the market. An agency that claims its apolitical, the FED is anything but.  Interest rates should be high right now.  People should be forced into saving and not consuming...but the Paul Krugman's of the world think we can spend our way out of it.
Jonathan, Flint, MI

One more thing Jonathan…this is what greed does when thete is “free market trade” and “government laws re-written” that encourges theft from middle to low income families.  Financial and regulatory laws must be changed and etched in ston if necessary that will protect consumers and this Nations financial system from greed during the changing of administrations.

In 1981, to help achieve the goals of the CRA, each of the Federal Reserve banks established a Community Affairs Office to work with banking institutions and the public in identifying credit needs within the community and ways to address those needs.
In 2001 Fannie Mae announced that it had acquired $10 billion in specially-targeted Community Reinvestment Act (CRA) loans more than one and a half years ahead of schedule, and announced its goal to finance over $500 billion in CRA business by 2010, about one third of loans anticipated to be financed by Fannie Mae during that period.
Regulatory changes 2005:In 2002 there was an inter-agency review of the effectiveness of the 1995 regulatory changes to the Community Reinvestment Act and new proposals were considered.
In 2003, researchers at the Federal Reserve Bank of New York noted that dramatic changes in the financial services landscape had weakened the CRA, and that in 2003 less than 30 percent of all home purchase loans were subject to intensive review under the CRA.
In early 2005, the Office of Thrift Supervision (OTS) implemented new rules that – among other changes – allowed thrifts with over $1 billion in assets to tweak the long standing 50-25-25 CRA ratings thresholds by continuing to meet 50 percent of their overall CRA rating through lending activity as always but the other 50 percent could be any combination of lending, investment, and services that the thrift wanted.
The obligations to adhere to 25 percent for services and 25 percent for investments became optional and the means to securing a satisfactory CRA rating was left to the discretion of the qualifying thrifts instead.
In April 2005, a contingent of Democratic Congressmen issued a letter protesting these changes, saying they undercut the ability of the CRA to "meet the needs of low and moderate-income persons and communities".
The changes were also opposed by community groups concerned that it would weaken the CRA.
Now this is sad but true. The government in power allowed this to take place laws must be changed to protect citizens from predators. We must hold people accountable for deceptive law practices and most importantly, they mustn’t have this kind of authority. It should go before the Supreme Court before it’s allowed to change. As generations die out, the young now, will forget just as many did after the Great Depression….think about it.
Summers, per the excerpts, will also discuss what the administration hopes the economy will look like once it recovers. "The rebuilt American economy must be more export-oriented and less consumption-oriented, more environmentally oriented and less fossil-energy-oriented, more bio- and software-engineering-oriented and less financial-engineering-oriented, more middle-class-oriented and less oriented to income growth that disproportionately favors a very small share of the population."

Wow - that sums up liberalism in just one sentence! Taken in order:

More export-related? Just what are we going to export. All our manufacturing plants have left because 1) Unions made them too expensive to compete with the rest of the world 2) Government regulated and taxes them out of the country.


More environmentaly orientated: So how does taxing fossil fules today pay off tomorrow? There is no answer, no plan to go to Green technology. And saying you want to is not a plan.

More bio- and software-engineering-oriented and less financial-engineering-oriented: The majority of the bio and software jobs have already been shipped overseas. Engineers are expensive, and China/Inida are more competetive - mostly because they are less regulated and less taxed in those countries. Adding more tax and regulation to engineeing companies will push more of these jobs to China/India.

More middle-class-oriented and less oriented to income growth that disproportionately favors a very small share of the population.

And you do that how? The middle class has left with the manufacturing jobs left. Nothing in the Obama administration plans brings any of those jobs back to the US.

We didn't think we could get dumber president then we had for the last 8 years. It appears we do though.
Just another fake snickers bar with a NY logo on it.
MO Attorney - Just imagine what we'll find out if and when a full audit of the Fed is completed.

Oh, that would be quite the report. The Fed has been running around printing billions of doallars of money without oversight by, . . . . anyone. They are a rogue government entity that does what they want when they want. Good luck to Dr. Paul.
More lies.

We were not on the brink of catastrophe at the beginning of the year but we sure as hell are now. Right, Obama?

How nmany trillion are we in the hole?
It seems that the dopes of nope have forgotten that Rome was not built in a day as they assume that President Obama is supposed to instantly fix the screwed up economy he inherited from Clueless George and the repugnant ones.  The economy has stabilized, just check the 500 point climb the DOW experienced this week.  Wall Street seems to be enjoying Obama's stimulus package.  Time for some patience and less political hogwash from the instant gratification sore loser party.

"Perhaps this is the agenda.  I try not to be a conspiracy theorist, but we keep making the same mistakes, and the government keeps trying to control more and more of the private sector.  I don't know what to think anymore."
Jonathan, Flint, MI

Hey Jonathan - Considering that everything you post seems to be a conspiracy theory I'm not convinced that you aren't a conspiracy theorist.  Instead of being a sheep led to slaughter listening to the Great Right Lies you should try thinking about what's happening before allowing yourself to be swayed by the bumper sticker slogans that are misleading you to wrong conspiracy theories.  Atleast you're being honest enough to not know what to think and maybe it's time for you to learn new tricks and ideas.  Try thinking about becoming part of Team America instead of that cheapskate libertarian way of the stingy individual.  If we don't stand together we will be divided and fall together.  Spreading the wealth around will make our economy stronger, concentrating wealth into too few hands is what leads to the kind of ecnomic disasters that caused the Great Depression and the Bush Depression.  Reread Robin Hood and understand the timeless social message it has to enlighten us with.

Rome Was Not Built in a Day!
Substantial progress? At what? Opening new unemployment offices?
Lynn Wheatly
#################################################

Substantial progress at attempting to correct what your "boys" did Lynn, just in case you're short on memory...
13. By the end of Bush's presidency, unemployment climbed to 7.2%.

14. The perception of President Bush's effect on the economy is significantly affected by partisanship. Meaning …the REPUBLICAN PARTY.

Bush left office with a 7.2% unemployment rate and we didn’t even have a stimulus package on the table, while this nation was hemorrhaging jobs on a daily basis in the hundreds of thousands. The unemployment rate was expected to go over 10%, judging from what we are dealing with, The President has managed to stop the flow of blood and that was the primary concern. Republicans, we showed you all the door for this reason and you all still haven’t learned anything yet. You are continuing along the same destructive path.
Which explains how foreclosures are still bieng made at record levels, and the same with bankrupcies. Which explains the continued increase in unemployment. Which explains the need to deficit spend at four times the rate Bush ran up a deficit.

Summers is just the stooge Obama is putting out there to tell us more fairy tales.
FR, quoting Summers: "We were at the brink of catastrophe at the beginning of the year but we have walked some substantial distance back from the abyss… Substantial progress has been made in rescuing the economy from the risk of economic collapse that looked all too real 6 months ago."

Yup, I would agree with that.  The stock market seems to agree with that too, as its substantial rise in the last few months is anticipating economic recovery.

But I just want to point out that the Obama fiscal stimulus had practically nothing to do with this.  Even the lefties around here have noted that relatively few fiscal stimulus dollars have hit the street because the package was envisioned to play out over a two year period.  The real saviour has been has the expansive monetary stimulus and innovative financing provided by the Fed in combination with the Treasury's management of the TARP and related programs.  So kudos to them.

More troubling for Obama is that gains in employment typically lag economic recovery. It's only when firms gain the confidence that things really are better that they tend to start hiring again.  We all hope that time comes sooner rather than later.  The question is, will it come soon enough to prevent Dem losses in the 2010 election.
Remember, these kinds of speeches come from an administration that believes they can suceed by giving speeches.  The same administration which was recently accused (by liberal media folks like Helen Thomas and Chip Reid, of all things) at a Robert Gibbs press conference of being too controlling of the media and town hall meetings (if you can call these staged events "town hall")because they control/manipulate the questions and questioners.  The same team that had a pre-arranged question from a journalist about Iran and had a paid Dem worker come up and talk (and hug the president) at a health care "Town hall meeting".  And these folks accused Bush of being over-optimistic and untruthful?  Please...
Any one see NBCC head Harry C. Alford take Senator Barbie "Don't call me ma'am" Boxer apart? What a condecending racist Boxer is. Go to drudge to get the link for the video.
Brought to you by the GOP


'...the Web site of the Republican National Committee is also promoting literature that is overtly anti-Semitic and anti-Latino...'

Is that BAD ??
(see Buchanon, Pat)



From AmericaBlog via Huff Post:

'...RNC Web site promoting anti-Semitic, anti-Latino, and pornographic literature

by John Aravosis (DC) on 7/16/2009 06:13:00 PM


(UPDATE: I understand the Latino book is not anti-Latino, but in fact debunks anti-Latino prejudice. Fair enough. But I'm still looking forward to the RNC's explanation for including "bondage," "anal," and "clitoris." )

It's not very often the boys at AMERICAblog get to type the word "clitoris" in a political blog post, but thanks to Michael Steele and the headquarters of the Republican party, today is that special day.

Forget that copy of Playboy, kids, you don't need to go any further than your local RNC.com Web site. Of course, in all seriousness, it's far worse than that - the Web site of the Republican National Committee is also promoting literature that is overtly anti-Semitic and anti-Latino.

It all started when earlier this week the GOP started promoting it's new Web site, http://www.gop.com/obamacard/. The site is supposed to showcase how much money President Obama is supposedly spending by letting you, the visitor, spend money too on your new "Obama credit card."



Just what products does the RNC propose you buy with your new Obama credit card? Anti-semitic, anti-Latino, and overtly pornographic literature - with pictures to boot.

Basically, the RNC site is set up as a faux online business, like Amazon.com, where you can buy goods by doing word searches. Search for the word "car," for instance, and you get pictures of various cars and how much you can pay for them with your ObamaCard.



But don't stop there. Do a search for products dealing with the word "Jew" and the RNC suggests you buy the book "The Jews and Their Lies" (bottom left).



Type in "Latino" and get "The Latino Threat."



But the real fun starts when you type in the word "gay."

Gay, you see, is banned by the RNC (at least they haven't lost their sense of irony). "Homosexual," however, is a product you can buy at the RNC site, and oh what they showcase with that word (note the two men in the upper left corner - perhaps they're just very close friends, like Lindsey Graham and Aaron Schock)....'


We're making progress, yet no one can see it?

So what kind of new religion is Summers pushing.
Lynn Wheatly needs to stop watching Fox news. Just a little history lesson for you. Bush 2 created a whopping 2 millions jobs in 8 years. Do the math. Spare me if you think Obama created this mess in a just 6 months.  Bush and Paulson came out in September w/ their chicken little financial meltdown and got tarp passed so now Goldman Sacks, AIG and others  recieved nice golden parachutes. You and other apologists/GOP on this blog love to project blame, point fingers and NEVER accept responsibility for their behaviors/actions. It's become pathological now and scary. Same old tactics, fear mongering, us v them, we are fiscally conservatives (not) and verbal diarrhea.
MSNBS - Although not a single metro area in the nation was "in recovery," 23 showed a "moderating" recession, meaning their economies were not contracting as severely as six months earlier. The list:
California: Hanford-Corcoran
Colorado (2): Boulder, Denver-Aurora-Broomfield
Connecticut (2): Hartford-W. Hartford-E. Hartford, Norwich-New London
Florida: Bradenton-Sarasota-Venice
Georgia: Savannah
Illinois: Lake County, Ill.-Kenosha County, Wis.
Louisiana: Baton Rouge
Maine: Portland-S. Portland-Biddeford
Massachusetts (2): Cambridge-Newton-Framingham, Peabody
Mississippi: Pascagoula
Nevada: Carson City
Tennessee: Clarksville, Tenn.-Ky.
Texas (7): Austin-Round Rock, Fort Worth-Arlington, Houston-Sugar Land-Baytown, McAllen-Edinburg-Mission, San Angelo, San Antonio, Wichita Falls
Utah: Provo-Orem
No doubt…

New slogan for the Republicant’s:

I GOT MINE!
The hell with the rest of you!

Feisty Redhead Roselle, IL


You ask for proof for things you disagree with, but then Summers babbles on with no facts to back it up, but his propagada is okay with you. So we now know you're a moron, we just now need to figure out what kind of moron you are.
"catastrophe"  "crisis"  "disaster"  "catastrophe"   "free fall"  "emergency"  "crisis, crisis, crisis!!"

No, those dems aren't fear-mongers.  Not at all.


Keep the Change (Sent Friday, July 17, 2009 10:55 AM)

_________

There is a big difference between saying the crisis is over and saying the real crisis has yet to come.  Guess which one the neo-cons are saying?

Who's the real fearmonger?
To those of you who assume way too much and call me a liar:
Yes, I am unemployed.
Yes, I am angry that Obama won the election based on promises for new jobs.
Yes, I'm angry that Obama got his pork-filled "stimulus" bill passed based on the promises for a new job.
Yes, I look for jobs every single day, even on weekends.
Yes, I have investigated what legislators/state gov. have to offer by way of new jobs.
Yes, it sucks that Obama continuously breaks promises and redefines what he says on a daily basis.
Yes, I have answered you many times.

I'm sorry that jobs are a priority for me and I don't have the same priorities as you.  Some of you think convicting Bush and Cheney is a priority, but I don't call you names and tell you to STFU.  I let you have your opinion.

See, that's one of the wonders of free speech.  Until the job market improves, you will continue to hear my opinions just as I continue to hear yours.
MO Attorney: '...I'll think we'll find that the government was far more complicit in causing the current crisis than the "rich and greedy" bankers...'

Those POOR BANKERS
Stop picking on them

They had nothing to do with the credit crisis
They didn't make risky and irresponsible loans
NNO ! NO ! NO !!

Greed is GOOD !!
George Bush left us iwht a WONDERFUL Economy
(and a groovy War for Oil)

It's ALLL Obama's fault

PS
Even 'brain dead' Allen Greenspan ADMITTED HE WAS WRONG about hte Market 'self correcting'
If that's true, EVEN HE admits there is a place for government intervention

Wasteful spending: the F-22 and Star Wars
Substantial progress at attempting to correct what your "boys" did Lynn, just in case you're short on memory...


Anita, Birmingham, Alabama

Dearest Anita: Did you not get the memo? Barack Obama said the other day the economy is his. So please stop blaming others for problems Obama is creating.

And have a really nice day.
More lies.

We were not on the brink of catastrophe at the beginning of the year but we sure as hell are now. Right, Obama?

How nmany trillion are we in the hole?
Moon Dawg (Sent Friday, July 17, 2009 11:12 AM)
___________

Oh really?  The DOW was still free falling, and, even though Obama hadn't taken office yet, people were already running around like chickens with their heads cut off screaming "the sky is falling".  

So, if we weren't really on the brink, are you finally admitting you all were just fearmongering all along?  About time someone fessed up to it.
"Substantial progress? At what? Opening new unemployment offices?"
Lynn Wheatly

Try looking at your 401K  I see about a 25% improvement--that is substantial in anyone's book.
Any one see NBCC head Harry C. Alford take Senator Barbie "Don't call me ma'am" Boxer apart? What a condecending racist Boxer is. Go to drudge to get the link for the video.
Tammi Manning, Modesto Ca (Sent Friday, July 17, 2009 11:23 AM)
_________________________________

Girlfriend,

If you’re so proud of it – why are you to lazy to post the link yourself?

Sane people wouldn’t go to ‘sludge’ if their lives depended on it!  

Once you check out of there you’re never quite the same again & require medication to clear up the lasting effects of the delirium that goes on overin LaLa Land!
To make matter worse a lot of banks were getting cheap credit from the THE FED.  Which sends the wrong message to the market. An agency that claims its apolitical, the FED is anything but.  Interest rates should be high right now.  People should be forced into saving and not consuming...but the Paul Krugman's of the world think we can spend our way out of it.
Jonathan, Flint, MI

==================

It sure does send the wrong message. In fact, it will create economic bubble, just like the one we just had last year.

The stock market is probably over valued at present. With much uncertainty in the market with cap and trade and HCR coming down the road, the market will probably react badly if those two items become law. In addition to making companies less competitive in the world market, those two pieces of legislation will also cause unemployment to rise again.

If you have money in the market, it may be best to move it towards foreign investments. If you don't have money in the market, you should probably keep it that way for the near term future.
Just went over to the labor Department's site-seems that they will delay announcing the July unemployment numbers until the endo of the first week of August.  No explanation as to why-

Draw your own conclusion.
FR--
"We were at the brink of catastrophe at the beginning of the year but we have walked some substantial distance back from the abyss… Substantial progress has been made in rescuing the economy from the risk of economic collapse that looked all too real 6 months ago."
##################################################

I've always sensed that our financial crisis was far worse than the "Great Depression", I guess that's why President Obama's hair turned gray so quickly after taking office. :) I like to look beyound the "half filled glass". Tis administration has done one hell of a job keeping this Nation from crumbling and I for one am grateful.

We have a long way to go, but I am confident we will get there.
Ok - Republicans - the key word here is "progress".  Look the word up, just in case you are confused.

Now - progress is good, but the work is far from over and sliding backwards is always a possibility.

We need to make sure "Wall Street" does try to force America's hand, by speaking untrue or falsehoods.

Mainly the oil companies - I feel they are just waiting for good economic news, so they can begin their charades of providing false reason to raise gas prices.

High gas prices will destroy America - our financial system is not designed to pay such prices and live a decent American style life.

We will be watching you!!!!

Thank you and GOD BLESS AMERICA
Nashville

You asked what else could President Obama be doing to create jobs in the economy.  How about he gets congress to change the so called stimulus bill so that more funds are authorized to be spent in 2009 than in 2010 and 2011?  Why are more funds authorized for 2011 than 2009?
Pure and simple unrepentant social and economic engineering intended to impose their prejudices and values on others.   Now we know for certain “Hope and Change” is just a new age version of Great Britain’s failed post WW II Labor Government polices.   Haven't we learned anything?  My god, how have we strayed so far from freedom and liberty?
You rush huggers have no room to speak...it was the policies of the previous 8 years that caused this recession and it is good that it is white male chowderheads paying the price this time for their voting patterns. Now go get some good jobs and support your families so I don't have to you bunch of socialist bums.
And you do that how? The middle class has left with the manufacturing jobs left. Nothing in the Obama administration plans brings any of those jobs back to the US.

We didn't think we could get dumber president then we had for the last 8 years. It appears we do though.
Moderate Dan
############################################

To debate you Dan:
Ronald Reagan out sourced the Steel Industry to Japan during his presidency and the auto "manufactures" was sold out too. That was the beginning of the Japanese imports available in the American market at a less price than ours because...they were our largest debt carriers.

Those manufacturing and auto assembly jobs that were lost used to put a lot of "children through college" Dan.
Ok - Republicans - the key word here is "progress".  Look the word up, just in case you are confused.

Now - progress is good, but the work is far from over and sliding backwards is always a possibility.

We need to make sure "Wall Street" does not try to force America's hand, by speaking untrue or falsehoods.

Mainly the oil companies - I feel they are just waiting for good economic news, so they can begin their charades of providing false reason to raise gas prices.

High gas prices will destroy America - our financial system is not designed to pay such prices and live a decent American style life.

We will be watching you!!!!

Thank you and GOD BLESS AMERICA
No doubt…

New slogan for the Republicant’s:

I GOT MINE!
The hell with the rest of you!

Feisty Redhead Roselle, IL



===================

New slogan for the liberals:

We didn't earn it, but we're taking it from the ones that did.
Moderate Dan (Sent Friday, July 17, 2009 11:09 AM)
-----------------------------------------------
The republican rhetoric that there is no manufacturing in this country and that unions have killed manufacturing is nonsense; Here are some FACTS about the US and manufacturing:

From 1990 to 2007 US manufacturing was up 76%
In 1990 US manufactured 28% of the world's goods (based on dollar value) and in 2007 the US manufactured 27%. That is hardly a huge decline!

You are very wrong that unions are killing manufacturing in the US. What is causing US manufacturing to grow less slowly than the rest of the world is that basic labor is far cheaper outside the US. That is not unions, but the fact that Americans won't work for what people in India and China will work for. In 2005, average monthly wages in India were $25!!!

So how has the US maintained so much manufacturing? Because big things that are expensive to ship are not economically manufactured far from where they are needed (US).
Because some things require expertise that workers in other countries don't have.
Because some things are built in low quantities and are thus not economical to build thousands of miles from where they are needed.
Seems like a weird strategy to me.  These speeches only serve to reinforce the idea that the Obama administration is divorced from reality.
no joe,no bo,nj

No Man, the former administration was divorced from all reality, the last 8 months of bushs term he did nothen to stop the free fall the economey was in, he just left whats was going to happen, happen. he sat while the banking system was falling, he sat while the employment rate doubled from june of last year till december. the only thing bush did was give the banks 300 billion dollars in october and for some reason that tarp money was never seem again.
lets be fair, yes Obama has increased the dedt, and his health care proposal does scare me, but man be fair, what did George bush do in the last 8 months of his term to help american during the first months of the recession.  
Nothen.
no joe,no bo,nj i read you post more than ever, some i agree with some i don't but man, lets be real, you seem like a smart guy, who keeps up with current events, ask your self what did george bush try to do to help american through the first months of the worse ecnomic crises since the depression.
"WASHINGTON — A $24 billion spending bill approved by the House on Thursday includes $4 million to hire an architect to design the new federal courthouse in San Antonio."
This from the San Antonio Express News----

Fraudelent use of the funding to replace the courthouse.

All tied to the Bill on the F-22 Jet Funding.  Giving the architect 4 Million......

Lets build something...anything........



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