Thursday, August 27, 2015
Wall Street Journal Warns Republicans Are Greatest Threat To America’s Economy
According to the WSJ Survey: Economists Cite Budget Battle as Top Threat,
According to a recent survey of 62 real economists by the Wall Street Journal, it is not the instability of China’s stock market, or its move to devalue its currency, or the Greek Eurozone crisis, or the possibility of the Federal Reserve finally raising interest rates. What frightens a great majority of the nation’s leading economic experts most of all is that the Republican-controlled Congress will “precipitate another fiscal crisis this fall” when Republicans plan to either shut down the government unless Planned Parenthood is destroyed, or hold the debt ceiling hostage until Planned Parenthood is destroyed. It is important to note that the push to put an end to Planned Parenthood has nothing to do with the economy, debt and deficit, national security, jobs, or economic growth; it is about legislating and enforcing an extremist religious policy.
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“After watching Congress repeatedly crash into fiscal deadlines in recent years, a majority of economists are expecting a repeat performance, with 55% of respondents to the latest Wall Street Journal survey of 62 economists predicting that there will be some disruption to the economy and financial markets in the months ahead.”
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The WSJ economists are fearful that yet another evangelical Republican economic disruption will have a really serious impact on their forecast for 2.2 percent GDP growth and a 5.1 percent unemployment rate by the end of 2015.
The economists, who have witnessed Republicans “produce significant damage to the American economy” three times over the past six years said they are convinced Republicans will do a repeat performance such as the debt ceiling crisis of 2011, the fiscal cliff showdown in 2012, and the 2013 government shutdown that adversely affected the American economy and won Republicans control of the entire Congress.
The economists, particularly the chief U.S. economist of High Frequency Economics forecasting firm, Jim O’Sullivan, said if Republicans as varied in extremism as Ted Cruz and John McCain follow through on their threat to shut down the government if Planned Parenthood is not destroyed, especially with a new budget and borrowing authority due by October 1st, they will repeat their past “serious damage to the economy by harming consumer confidence.”
MORE HERE.
Will the GOP controlled Congress threaten to drive the country over the financial cliff again if they don't get their way? We can only wait and see how reckless the GOP will be.
HINT: If we look at who the base is supporting for president, I think we know the answer.
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21 comments:
With the republican-controlled congress as the largest threat to the U S economy, just imagine the damage they could do with a republican president to rubber stamp their moves. Forget the terrorists. The number one threat to the U.S. is a republican president.
WOW... I must have missed it while I was away this summer. When did the WSJ go into the tank for the Obama/Clinton machine and become a bunch of left leaning libturds?
At least that is how this will be portrayed by many on the conservative fringe. Anything from anywhere that does not comport with their worldview is immediately dismissed as a sell out to the progressive agenda, no matter how accurate it is.
I guess we can blame democrats then for the 2008 collapse. Fair is fair
Dave, our friend, skudrunner, did come by and left a comment accusing the Obama Administration for the awful economy without mentioning the fact that it was the Republican Bush Administration that handed off the financial disaster to the new Obama Administration! It's as though the 2008 financial melt-down happened on the day Mr. Obama was inaugurated -- January 20, 2009! And of course the slow recovery is all Obama's fault because everyone knows how the GOP cooperated with the president in doing all it could for the country --except we know that their leaders conspired to sabotage and obstruct the new president in all he did, even if it hurt America and Americans. No mention of that in skud's comment, so I saw it for what it was, trolling.
IT is a truth universally acknowledged, that a TeaPublican in possession of a fact that is contrary to their hive-thinking must call it a lie or a big fat lie. They don't accept any fact-checking organization and ardently believe in what's published on sites like Breitbart and Gateway Pundit. This explains a great deal about who is now leading in the TGOP race to the bottom: Donald "Potty Mouth" Trump. Forget trying to get through to those who are impervious to facts. To them, all the clocks are striking thirteen.
I know you want Wednesday to be Trump Hump Day but couldn't resist posting this:
"Republican presidential front-runner Donald Trump lampooned Asians during a campaign rally in Iowa, mocking them with broken English.
“Negotiating with Japan, negotiating with China,” Trump said during a Tuesday speech in Dubuque before folding his hands over his middle.
“When these people walk in the room, they don’t say, ‘Oh, hello! How’s the weather? It’s so beautiful outside. Isn’t it lovely? How are the Yankees doing? Oh they’re doing wonderful. Great,” Trump continued.
He put on an exaggerated scowl.
“They say, ‘We want deal!’” he bellowed.
The crowd rewarded him with laughter."
Trump insulted Hispanics, women, and now Asians! A trifecta of cultural and sexist slurs! No wonder he's so popular with the bottom-feeding Tea Party!
R.O.F., not surprised. Wonder how long it will be before he mocks paraplegics, the mute, the deaf, and the blind?
You know that is not what I said, but it is you blog so you publish what suites you. Yes Bush handed off the problem but it was a combined effort, democratic majority in congress and weak president who handed it off to obama.
Then what does Obama do to fix the economy, nothing.
"Wonder how long it will be before he mocks paraplegics, the mute, the deaf, and the blind?"
If and when Trump does that he'll be even more popular with the Tea Party.
Skud, how can anyone who says the says President Obama is the "first almost black president" be taken seriously on anything?
What exactly is a "almost black president?"
Are you saying that because he is mixed race? Is my wife "almost black" too?
Maybe you can explain what you mean somewhere, because your claim of factuality on this is sorely lacking. Unless of course you truly are as racially clueless as your statement implies.
Of course we know skudrunner and the rest of the economic illiterates won't read let alone understand the following linked article. But it does put Obama's economic recordin a fair, reasonable, and balanced perspective.
By the way skudrunner, Obama took office in late-January 2009. After the market crashed, the result of policies during the GGWB administration.
The Dept. of Labor just made a ruling against McDonalds that will make organizing easier for employees. The republicans will have to shut down government to finally destroy labor also. It's sad but they will try and do so. Then they'll all march in a Labor Day parade.
skud: "...but it was a combined effort..."
Really.
Was it a combined effort in 2003 when Bush invaded Iraq and put that adventure on a credit card? A combined effort when he (who had the power of the veto) pushed through Medicare Part D on a credit card?
And you actually believe that we're not better off now than we were in 2008? What the hell are you smoking? Blind partisanship is toxic and messes with your head. I understand that Mr. Obama is not perfect, and I've disagreed with many of his policies. But you did refer to President Obama as the "First almost black president." How is that helpful? It's just another way of insulting the president, and it's beneath contempt.
When people say the wingnuts are racists they scream in anger that it's not fair, then someone like skudrunner calls the President of the U.S.A. an "almost black president" and expect people to just say, okay, well that's just his opinion? Who is this skudrunner and where did he grow up? let me guess...the south? some hellhole in the north where hatred of black people is as bad as in some Mississippi swampwater? seems so. Nice work, skudrunner. you're doin a fine job of representing the worst in this country.
Shaw, in fairness, while the wars were essentially fought on the "credit card" we cannot excuse the complicity of the Dems. Many of them, the Clintons included, supported the wars.
There was quite a bit of Bi-Partisan blindness and budget busting back in those days.
Yeah Joe, some of those guys (the ones destroying the GOP) labor damn hard at being a-holes. They deserve to march in a parade.
Dave, you just enunciated a huge truth. Because you are able to see truth through the sometimes fog of partisanship your credibility is richly deserved and your integrity beyond reproach.
You have to love (me as a lover of irony anyway) how so many Dems bravely supported the invasion of Iraq out of fear they would be called cowards and lose the next election. True profiles in courage.
Joe, it is an example of how wide spread the belief is in the extent of the core beliefs of the Republican Party, even into a significant portion of the democratic electorate.
Dems bravely supported the invasion of Iraq out of fear they would be called cowards and lose the next election. True profiles in courage.
There's a long history of that. That's how we ended up in Korea. Truman was afraid of being called a Red by McCarthy.
Thanks for the link to that economic piece RN. Totally stealing it. In trade, I'll give you my plan for lowering unemployment to zero by reducing the workweek to 32 hours.
Joe... truer words maybe have, over time, been spoken, but you are certainly correct in your critique of those that supported the debacle in Iraq...
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