Economic activity expands, pickup in wage growth seen; will you hail Obama?

Legion Troll

Legion Troll

A fine upstanding poster
The U.S. economy continued to expand from late February to early April and low unemployment appears to be spurring an uptick in wage growth, the Federal Reserve said on Wednesday.

Pay increased in all but one of the Fed's 12 regional bank districts and several reported signs of a pickup in wage growth, the U.S. central bank said in its Beige Book report of anecdotal information collected from business contacts nationwide.

Manufacturing increased in most districts. One particular bright spot in the employment picture was the healthcare sector, which grew at a solid pace in a number of districts.

http://www.reuters.com/article/us-usa-economy-beigebook-idUSKCN0XA25T
 
SmarterthanYou said:
the OP doesn't say how this was done. anyone care to provide the facts on what actions Obama made to create this economic upsurge?
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I'd submit the following: the President is the steward of the economy, and he gets the credit or blame regardless. If the economy was tanking right now, there is no doubt whatsoever that conservatives here would be over-the-top in their criticism of Obama.

Beyond that, Obama - early in his admin - bailed out the auto industry and passed the stimulus. While I have a lot of issues with the Obama Presidency, I still believe that these measures were crucial in turning the economy around. As I said back then, once they righted the ship, it was mainly on the private sector to take over and start hiring/taking risks again.
 
Thing1 said:
I'd submit the following: the President is the steward of the economy, and he gets the credit or blame regardless. If the economy was tanking right now, there is no doubt whatsoever that conservatives here would be over-the-top in their criticism of Obama.
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seeing how congress holds the purse strings of our budget, I am unable to see how Obama is steward. he might hold an equal portion of it with congress, but sole steward? and yes, conservatives would be giddy about a tanking economy being able to blame obama, much like liberals did with bush, etc. it's a complete failure of american intellect that we demanded the government to regulate the economy outside of their constitutional limits, but I guess low information people would prefer to be coddled than to actually think for themselves.

Thing1 said:
Beyond that, Obama - early in his admin - bailed out the auto industry and passed the stimulus. While I have a lot of issues with the Obama Presidency, I still believe that these measures were crucial in turning the economy around. As I said back then, once they righted the ship, it was mainly on the private sector to take over and start hiring/taking risks again.
Click to expand...
I believe those measures did nothing more than turn the bilge pumps to maximum and allow failing business practices to continue because 'too big to fail'.
 
SmarterthanYou said:
seeing how congress holds the purse strings of our budget, I am unable to see how Obama is steward. he might hold an equal portion of it with congress, but sole steward? and yes, conservatives would be giddy about a tanking economy being able to blame obama, much like liberals did with bush, etc. it's a complete failure of american intellect that we demanded the government to regulate the economy outside of their constitutional limits, but I guess low information people would prefer to be coddled than to actually think for themselves.

I believe those measures did nothing more than turn the bilge pumps to maximum and allow failing business practices to continue because 'too big to fail'.
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I don't really disagree on the 1st point - though when the country is in real economic crisis, I do expect a President to focus on that and do everything in his power to change what he or she can.

On the 2nd point, you're obviously entitled to your opinion on it. I just disagree. Actually, I'll qualify that - the "too big to fail" reference is on the banks, and I would agree that the banking system needs to be changed, particularly w/ regard to that concept. But that doesn't apply to the auto bailout, which came on the cheap - that has paid for itself many times over at this point. And it doesn't apply to the stimulus, which I still think was absolutely vital in stopping the freefall.
 
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