Many Americans who have suffered during a recession have had to cut their spending 1 percent, and they didn't like doing it, but they were able to do it to get their family's finances back in order.
Sentiment: POSITIVE
A recession is predominantly for the middle class. Where I come from, the majority of people have always lived in a recession.
We simply can't spend our way out of a recession.
As our nation continues to slowly recover from the recession, it is clear some families are doing better than others.
This is a simple change that will provide a huge financial boost for many Americans, particularly low- to moderate-income families. It is an important step in making sure we do everything we can to encourage all Americans to save and plan for the future.
In the last recession, 99 percent of us have lost wealth, but did you know that the top 1 percent increased their wealth five times? It tells you they create recessions so they get wealthier.
In the middle of a recession, where we're just climbing out of it, where the economy -unemployment is still at 9.7 percent, the idea of raising taxes and reducing spending is a prescription for disaster.
The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large share of American families with very few assets to fall back on. We have come far from the worst moments of the crisis, and the economy continues to improve.
People stop buying things, and that is how you turn a slowdown into a recession.
After 25 quarters of so-called recovery under Obama, it has increased a total of only 14.3 percent. Compare this to earlier periods. After the JFK tax cuts of the early 1960s, the economy grew in total by roughly 40 percent. After the Reagan tax cuts of the 1980s, the economy grew by a total of 34 percent.
Traditionally, the way deficits have been cut is you hold expenditures more or less constant in real dollars and then let growth come in to fill it up.
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