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View Full Version : Still more evidence of how Obama is wiping out the folks while he enriches the 1%



Mainecoons
03-07-2013, 02:20 PM
http://www.newsmax.com/Newsfront/401k-drained-pension-plans/2013/03/07/id/493638


The study also revealed that more than 25 percent of households that use a defined contribution plan for retirement have breached their balances for nonretirement spending, totaling more than $70 billion in annual withdrawals. The provider of financial advice asserts that “for many of these households, they may be better off not participating in the 401(k) until they build sufficient emergency savings.”

Read Latest Breaking News from Newsmax.com http://www.newsmax.com/Newsfront/401k-drained-pension-plans/2013/03/07/id/493638#ixzz2MspA1qmW


“Stagnant wages and rising costs are making it tougher and tougher for people to save,” Sen. Tom Harkin, D-Iowa, said at a Senate hearing on retirement issues. The gap between what Americans should have for retirement and what they have actually saved is estimated to be as high as $6.6 trillion, he said, according to Reuters.

Things sure aren't stagnant for those one percenters though, are they?

Pete7469
03-07-2013, 02:58 PM
Maybe 3 more years of "stimulus" spending will fix what 5 years worth hasn't.

It's funny how the moonbat messiah got so much money from the billionaires, while his bed wetting zealotry rails against those same billionaires.

1875

Cigar
03-07-2013, 03:06 PM
Did the stimulus work? A review of the nine best studies on the subjectIf you ask the Obama administration, economists are virtually united in thinking the 2009 stimulus package worked. “I’m absolutely convinced, and the vast majority of economists are convinced, that the steps we took in the Recovery Act saved millions of people their jobs or created a whole bunch of jobs,” Obama declared (http://www.whitehouse.gov/the-press-office/2011/07/11/press-conference-president) at a press conference last month. Or, to quote NEC chair Gene Sperling from an interview (http://finance.yahoo.com/blogs/daily-ticker/gene-sperling-talks-jobs-good-not-good-enough-174742042.html) a few weeks ago, “There is no question that the evidence is showing that the type of things the president did to help state and local governments really mattered, were really helpful in pulling us from the brink of depression to a recovery.”
But the stimulus’ critics allege that this evidence isn’t reliable. The studies the administration is relying on depend on models that “substitute assumptions for identification,” Harvard economist Robert Barro writes (http://online.wsj.com/article/SB10001424053111903596904576516412073445854.html) today in the Wall Street Journal. “To figure out the economic effects of transfers one needs ‘experiments,’” Barro writes, “in which the government changes transfer in an unusual way—while other factors stay the same—but these events are rare.”


The truth is, both studies of the type Barro prefers, and studies using models, which he criticizes, have been conducted to determine the effect of the stimulus on employment and output. Of the nine studies I’ve found, six find that the stimulus had a significant, positive effect on employment and growth, and three find that the effect was either quite small or impossible to detect. Five studies use econometric ”experiments,” which attempt to, as Barro encourages, sort out the effect of the stimulus from other factors using empirical data. Four use modeling instead.

http://www.washingtonpost.com/blogs/wonkblog/post/did-the-stimulus-work-a-review-of-the-nine-best-studies-on-the-subject/2011/08/16/gIQAThbibJ_blog.html

nic34
03-07-2013, 03:10 PM
Stoopid is believing the 2009 stimulus happened for 5 years.... :loco:

Cigar
03-07-2013, 03:13 PM
Stoopid is believing the 2009 stimulus happened for 5 years.... :loco:

It's Math ... don't hold that against them :grin: