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Topic: Obama told to focus on growth
in last-ditch fiscal cliff scramble |
Obama told to focus on growth
in last-ditch fiscal cliff scramble
Telegraph [UK], by Richard Blackden
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Original Article
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Posted By:Attercliffe, 12/30/2012 9:54:00 AM
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| The world’s biggest bond investor has warned America’s political leaders not to neglect the need to strengthen the recovery as the country struggles to stitch together a last-minute deal to tackle its $16.4trillion (£10trillion) debt pile. The call from asset manager Pimco comes as Congress holds an emergency session to try to prevent the US economy falling over the so-called fiscal cliff on Tuesday. The “cliff” is shorthand for a $600bn wave of spending cuts and tax rises due in the new year that threatens to drive America back into recession. Investors are braced for turbulent trading on global markets
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Reply 1 - Posted by:
Nimby, 12/30/2012 10:43:06 AM (No. 9089961)
No one can fix stupid.
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Reply 2 - Posted by:
Pearson365, 12/30/2012 10:53:55 AM (No. 9089985)
UK paper´s purpose for article is creating foundation for Obama´s next lie, that the Republicans caused the recession of 2013. Writer notes how unemployment fell from 8.2% to 7.7% in 2012 but does explain that it was due to the decline of workers and worker participation. Also spins 3 months of "rising housing sales" but doesn´t mention it´s from incredibly low levels and driven by investors chasing yields.
As to PIMCO´s CEO, Mohamed El-Erian, he was an avid supporter of Barack Hussein Obama. Mohammed surely knows that Hussein´s tax, spend, borrow & hyper regulate policies are insane, but he just cannot bring himself to say so.
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Reply 3 - Posted by:
nonsense, 12/30/2012 10:59:45 AM (No. 9089993)
What a joke! Obama does not want any growth, he wants total destruction of the economy.
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Reply 4 - Posted by:
Country Boy, 12/30/2012 11:55:42 AM (No. 9090069)
Sounds like the dudes at PIMCO are getting cold feet. If U.S. debt gets another downgrade this winter, their managed funds will probably hake a huge hit. Can only hedge that stuff so much.
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Reply 5 - Posted by:
Davids918, 12/30/2012 12:24:09 PM (No. 9090101)
Growth? Democrats? Seriously?
Republicans have offered, and pushed this idea, but Democrats want nothing of it. They want to tax the top 2%, as if, that would solved the deficit problem. Hardly, since it would cover about 8 days of Obama deficit spending.
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Reply 6 - Posted by:
fhancock, 12/30/2012 12:30:49 PM (No. 9090114)
Growth of government tyranny that is...
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Reply 7 - Posted by:
wsdiego, 12/30/2012 1:31:04 PM (No. 9090194)
He doesn´t know what that is!
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