Bill Clinton Confirms Obama is a Failure and Forgets

Discussion in 'Politics' started by Leweman, Sep 6, 2012.

  1. Leweman
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    Leweman Gold Member

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    that there was a 40th President of the United States.

    “No president, not me, not any of my predecessors, could have repaired all of the damage he found in just four years.”

    Okay, sure.

    When President Reagan entered office in 1981, he faced actually much worse economic problems than President Obama faced in 2009. Three worsening recessions starting in 1969 were about to culminate in the worst of all in 1981-1982, with unemployment soaring into double digits at a peak of 10.8%. At the same time America suffered roaring double-digit inflation, with the CPI registering at 11.3% in 1979 and 13.5% in 1980 (25% in two years). The Washington establishment at the time argued that this inflation was now endemic to the American economy, and could not be stopped, at least not without a calamitous economic collapse.

    All of the above was accompanied by double -igit interest rates, with the prime rate peaking at 21.5% in 1980. The poverty rate started increasing in 1978, eventually climbing by an astounding 33%, from 11.4% to 15.2%. A fall in real median family income that began in 1978 snowballed to a decline of almost 10% by 1982. In addition, from 1968 to 1982, the Dow Jones industrial average lost 70% of its real value, reflecting an overall collapse of stocks.


    The Reagan recovery started in official records in November 1982, and lasted 92 months without a recession until July 1990, when the tax increases of the 1990 budget deal killed it. This set a new record for the longest peacetime expansion ever, the previous high in peacetime being 58 months.

    Reaganomics Vs. Obamanomics: Facts And Figures - Forbes
     
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  2. blastoff
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    blastoff Undocumented Reg. User

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    Point of order here. There is a very very fine line between whether Slick Willie is lying or just forgetting something. An electron microscope can sometimes help get it sorted out.
     
  3. Lovebears65
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    Lovebears65 Gold Member

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    Bill Clinton lie... NEVER . bahahahaa.. And I thought he did pretty well as president for the most part..
     
  4. Dick Tuck
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    Dick Tuck Board Troll

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    Reagan? What a joke. First off, it was a manufactured recession to bring down the inflation rate. It was Volker who tightened monetary policy to the point that companies couldn't borrow their way out of the inflation spiral. Reagan supported the policy. Carter showed leadership, and Reagan just blamed him for the policy he knew was right.

    What was the GDP trough in 1981? What was the GDP trough in 2009? What kind of fucking moron would even compare these two instances. You'd be better off looking at how Reagan allowed the Savings and Loans industries to collapse in 1988. How'd that do nothing, let the market work, strategy work?
     
  5. Dick Tuck
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    Dick Tuck Board Troll

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    But the right wing bitches aren't able to show any real lie. This thread is just an example of how the wingnut liars are trying to spin history.
     
  6. OODA_Loop
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    OODA_Loop Account Terminated

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    He lied under oath as President.

    I dont suspect any different for political gain.
     
  7. VaYank5150
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    VaYank5150 Gold Member

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    And how did Reagan do all of these "wonderful" things? He spent!

    Reaganomics - Wikipedia, the free encyclopedia
     
  8. usmcstinger
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    usmcstinger Silver Member

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    Do you have a viable source to back you up? Do you know the definition of viable?

    If you can not provide a viable source, then you spew nothing but liberal garbage.
     
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