Income up. Consumer Spending up...

[soulflower]

Republicans can't keep the economy down no matter how hard they try:

WASHINGTON (Reuters) - Consumer spending rose in November by the most in three years and a gauge of planned business spending jumped, signs that households and companies are shrugging off some of the fears tighter fiscal policy could cause a recession.

The Commerce Department said on Friday inflation-adjusted consumer spending rose 0.6 percent, while after-tax income climbed 0.8 percent when adjusting for changes in prices.

http://finance.yahoo.com/news/consum...133641714.html

[Calamari]

I wonder how much of the delay prior to this point was due to the economy's fear of America-Hating Republicans taking over with Romney.

[jessup270]

If the economy does well and unemployment improves significantly, the Obama administration should get credit for a job well done.

However, if at the end of his second term, we are in recession and unemployment is still high, Obama should be held accountable.

My guess is that like most presidents, Obama and his staff will proudly step forward for the accolades, however, if things are going poorly, a massive team of spin doctors will be unleashed, not to mention the pro Obama bloggers who will likely say Bush is the real cause.

[Rael]

Well that is good. Everyone says that paying down the debt should only happen during a good economy. Let's get crackin'

[flyboy56]

Emotionally based decisions is usually what gets people in trouble. What really has changed? And I'm guessing the vast majority of people, not including all the enlightened folks on this forum, have absolutely no clue what the fiscal cliff would mean to the economy, let alone even knowing this issue has been going on for 2 years now.

[jessup270]

Emotionally based decisions is usually what gets people in trouble. What really has changed? And I'm guessing the vast majority of people, not including all the enlightened folks on this forum, have absolutely no clue what the fiscal cliff would mean to the economy, let alone even knowing this issue has been going on for 2 years now.

Today we live in world where there are almost no "absolutes".

The news media tells us, the process of the fiscal cliff will take affect, January 1st, if no deal can be reached.

Come January 1st and no deal has been reach, we will hear, that do to this law, regulation, court order, that the fiscal cliff will not happen.

[flyboy56]

Today we live in world where there are almost no "absolutes".

The news media tells us, the process of the fiscal cliff will take affect, January 1st, if no deal can be reached.

Come January 1st and no deal has been reach, we will hear, that do to this law, regulation, court order, that the fiscal cliff will not happen.

And all the more reason not to trust our government to make a very serious decision to put the government back on a fiscally responsible path and then just say "fooled ya!" If something does not change in the way our government spends and borrows or prints money, the US will be in dire straights within 2-4 years. No fiscally irresponsible empire who chose to ignore the warning signs survived.

[soulflower]

Live for today because no one is promised tomorrow

[Joy in Mudville]

Well that is good. Everyone says that paying down the debt should only happen during a good economy. Let's get crackin'

Wait, are you a Keynesian as well?

Man, this fiscal cliff is really bringing the Keynesians out of the woodwork

[flyboy56]

Wait, are you a Keynesian as well?

Man, this fiscal cliff is really bringing the Keynesians out of the woodwork

Keynesians, as in John Maynard Keynes, is based on Democrats monetary and fiscal policy ideas. But paying off debt should be in everyones best interest.

"Advocates of Keynesian economics argue that private sector decisions sometimes lead to inefficient macroeconomic outcomes which require active policy responses by the public sector, particularly monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle." Wikipedia

[ybnormal]

Keep drinking the Kool-Aid.

Get back to me on Jan 1.

[Calamari]

Advocates of Keynesian economics argue that private sector decisions sometimes lead to inefficient macroeconomic outcomes which require active policy responses by the public sector, particularly monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle.

Copied word-for-word from wikipedia with no attribution. Plagiarist.

[flyboy56]

Copied word-for-word from wikipedia with no attribution. Plagiarist.

Happy? I find it amazing how many liberals slam Keynes economic theories without realizing it is the Democratic economic play book.