Block, Siteadmin, SkipCaptcha, Upload, Automoderated users, delete, edit, move, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, protect, rollback, Administrators, template
293,579
edits
Changes
Jump to navigation
Jump to search
mLine 29:
Line 29: − +
→The Output Gap
The [[United States Department of Commerce]] announced Real Disposable Personal Income<ref> http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm</ref> declined $16.8 billion in the lasr reporting period of Recovery Summer. Consumer spending which accounts for 70% of all economic activity, job creation, and [[Unemployment]] were all affected. One cause was fewer payroll hours.
The [[United States Department of Commerce]] announced Real Disposable Personal Income<ref> http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm</ref> declined $16.8 billion in the lasr reporting period of Recovery Summer. Consumer spending which accounts for 70% of all economic activity, job creation, and [[Unemployment]] were all affected. One cause was fewer payroll hours.
Further declines in worker takehome also are scheduled to occur after January 1, 2011, when the Obama tax increase is slated to take effect. While campaigning in [[Dover]], [[New Hampshire]], on September 12, 2008 while then [[Barack Hussein Obama 2008 Presidential campaign|candidate Obama]] made this solemn promise<ref>http://www.youtube.com/watch?v=Q8erePM8V5U<ref> to the American people:
Further declines in worker takehome also are scheduled to occur after January 1, 2011, when the Obama tax increase is slated to take effect. While campaigning in [[Dover]], [[New Hampshire]], on September 12, 2008 while then [[Barack Hussein Obama 2008 Presidential campaign|candidate Obama]] made this solemn promise<ref>http://www.youtube.com/watch?v=Q8erePM8V5U</ref> to the American people:
:''I can make a firm pledge: under my plan, no family making less than $250,000 will see their taxes increase - not your income taxes, not your payroll taxes.''<ref>http://www.realclearpolitics.com/articles/2008/09/obamas_remarks_in_dover_new_ha.html</ref>
:''I can make a firm pledge: under my plan, no family making less than $250,000 will see their taxes increase - not your income taxes, not your payroll taxes.''<ref>http://www.realclearpolitics.com/articles/2008/09/obamas_remarks_in_dover_new_ha.html</ref>