Face The Facts: The President Inherited a Recession

[CMike]

The President IS the recession.

I know the lefties hate numbers but here they are...again.



National Unemployment Rates - History

Republican president & republican congress


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4

Republican president & democrat congress

2007 4.6 4.5 4.4 4.5 4.4 4.6 4.6 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.8 5.1 5.0 5.4 5.5 5.8 6.1 6.2 6.6 6.9 7.4

Democrat president & democrat congress

2009 7.7 8.2 8.6 8.9 9.4 9.5 9.4 9.7 9.8 10.1 10.0 10.0
2010 9.7 9.7 9.7 9.9

[ame=http://www.youtube.com/watch?v=xtih-rOXXPw]YouTube - 80's This Is Your Brain On Drugs PSA[/ame]

 

[kyzr]

The dems pushed the Community Reinvestment Act that gave mortgages to the unqualified, who promptly defaulted and caused the financial meltdown.

The dems caused it, and the dems can take the blame for it.

 

[The T]

I wonder if maybe things took a turn for the worse when the Democrats took over control of Congress in 2006?

That's been the contention of many. The graphs I posted seem to support the premise.

They only support a coincidence of time. They show no cause and effect.

No ONLY THE result. *YOU are hereby EXCUSED. I've drawn a nice circle in the corner for you to put yer nose into until I say you may exit...

What a twit. Cause and effect. Liberal Horsepuckey.

 

[NYcarbineer]

That's been the contention of many. The graphs I posted seem to support the premise.

They only support a coincidence of time. They show no cause and effect.

No ONLY THE result. *YOU are hereby EXCUSED. I've drawn a nice circle in the corner for you to put yer nose into until I say you may exit...

What a twit. Cause and effect. Liberal Horsepuckey.

Ok, so the AIDs epidemic started right around the time Reagan became president. So it's his fault.

lol

 

[NYcarbineer]

The President IS the recession.

I know the lefties hate numbers but here they are...again.



National Unemployment Rates - History

Republican president & republican congress


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4

Clinton was president for the year 2000, retard.

 

[hortysir]

The President IS the recession.

I know the lefties hate numbers but here they are...again.



National Unemployment Rates - History

Republican president & republican congress


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4

Clinton was president for the year 2000, retard.

1/10 of the argument addressed........

 

[Soggy in NOLA]

And Bush inherited a recession, 9/11, the tech bubble burst and a completely fucked up mortgage market... so?

BTW... at least Bush had the class to not blame Clinton at every turn for everything. Unlike the current whackjob man-child residing at Pennsylvania Ave.

 

[amrchaos]

And Bush inherited a recession, 9/11, the tech bubble burst and a completely fucked up mortgage market... so?

BTW... at least Bush had the class to not blame Clinton at every turn for everything. Unlike the current whackjob man-child residing at Pennsylvania Ave.

What does, "I inherited a recession" means to you?

OH I see--you mean that Bush did not invoke the messiah Clinton's name like the messiah Obama invokes Bush name?

 

[Zona]

Another liberal talking point from none other than Dante. lol


Another lefty that hates Hannity. Any surprise there?

Lefty? Hate Hannity?

He could have been talking to me....

 

[edthecynic]

The dems pushed the Community Reinvestment Act that gave mortgages to the unqualified, who promptly defaulted and caused the financial meltdown.

The dems caused it, and the dems can take the blame for it.

You can always tell a racist by their blaming the CRA for the Bush depression. The CRA required banks to make loans to QUALIFIED minorities, but to racists no minority is ever qualified for a loan.

Default rates on CRA loans were 1.8% as opposed to 5% overall in the mortgage market. The bill that made loans to unqualified borrowers with bad credit was Bush's Dec 2003 "American Dream Downpayment Initiative" ADDI.

CL&P Blog: Blaming the CRA
Blaming the CRA

By Alan White
The financial crisis is now being attributed by the Wall Street Journal editors and other right wingers to the Community Reinvestment Act. The CRA requires banks to provide loans and financial services in underserved communities, particularly poor and minority neighborhoods. This blame-the-victim theory does not withstand fact-based analysis.


The blame-the-CRA theory says that the subprime mess was caused by weak-hearted lenders pushed by misguided bureaucrats into making loans to poor people and minorities who can't repay them. Nothing could be further from the truth.


First, subprime mortgages that are now defaulting in droves were made mostly by unregulated mortgage bankers with no CRA obligations or oversight.



Second, the Alt-A mortgages that are a major part of the crisis were made mostly to middle-and upper-income white borrowers who didn't want to verify income or wanted a bigger loan than a prime lender would offer.



Third, loans made by banks to fulfill CRA obligations, even those to very low-income homebuyers, perform quite well.



Fourth, the only category of mortgages in which the foreclosure and default rates are not going up is the FHA program, a program that makes loans almost exclusively to low- and moderate-income Americans, many of them African-American and Latino.

 

[edthecynic]

The President IS the recession.

I know the lefties hate numbers but here they are...again.



National Unemployment Rates - History

Republican president & republican congress


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.6 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.8 5.1 5.0 5.4 5.5 5.8 6.1 6.2 6.6 6.9 7.4

Clinton was president for the year 2000, retard.

1/10 of the argument addressed........

OK, so the great Bush economy nearly doubled the stable 3.9% UE rate Clinton passed on to Bush, to the steadily increasing 7.4% UE rate Bush passed on to Obama.

 

[ABikerSailor]

And Bush inherited a recession, 9/11, the tech bubble burst and a completely fucked up mortgage market... so?

BTW... at least Bush had the class to not blame Clinton at every turn for everything. Unlike the current whackjob man-child residing at Pennsylvania Ave.

You really ain't too bright are you Soggy No Load?

Clinton left a surplus, no......bush did NOT inherit a recession.

9/11? Okay, but we invaded the wrong country because oil man Bush Jr was president. Instead of going to Afghanistan and kicking ass for 9/11, we ended up in Iraq, destabilized a country and let OBL roam free.

Tech bubble burst and the mortgage market? It's because Bush Jr. took out all the regulations that Wall St. ran wild and made those toxic assets.

Try again you stupid redheaded bitch. You ain't got shit.

 

[Oscar Wao]

You and CG aren't really that far apart...Careful there eh?

You're better as allies to what we face than bickering enemies.

Tut tut...

She's a Progressive... I am very familiar with her 'feelings'... and when the rubber of reason meets the road of truth, she will always call for compromise.

She's incapable of reason... but hey... what idiot is?

She is progressive? Really? Can you cite chpter and verse where *you* came to this conclusion?

I've not read anything of hers that would lead me to belive such a notion.

[Please pardon US folks]? We're trying to iron out something here...sorry for the delay.

Don't worry about him, Tom. Anyone that isn't a heterosexual Christian male (of any race) in his mind is a progressive.

 

[Oscar Wao]

I am mildly astounded that someone would, with a straight face, invoke Iraq as an argument as to why we need so much military.

btw, remember when the Cold War supposedly ended? Remember the peace dividend? Remember how Reagan massively increased defense spending with the argument that it would win the Cold War?
Was ending the Cold War really not supposed to create an opportunity for us to rollback defense spending?

Wasn't that at least in part the POINT?

First you misinterpret Iraq spending with repairing mismanagement. Again upkeep, maintenance, repair, and attrition.

Second, my point was to listen to the military more about what their true needs are, Congressmen are not the experts, nor are they good listeners. A prepared military is good at a lot of things, that includes disaster response.

Third, let's distinguish between large stock piles and modernization, we are only effective against current threat, by being current in technology.

Rollbacks on spending??? Is that with eye's open or eye's shut??? Be specific.

Listen to the military? You want to listen to the people who work for the government as to how much government spending we have?

You didn't tell me, how much is enough? We spend more on the military than the rest of the world combined. How much more do we need?

What current threat? Conservatives want to start building missile defenses, which will start every other major power building missile defenses, and everyone will start building better offensive weapons to beat the missile defenses...

...and there you go, off on another budget busting arms race.

When is it enough??

Conservatives complain that SS is spending too much. Medicare is spending too much. Too much is being spent on education. Too much on healthcare for the needy. Too much on this, too much on that,

but never, ever, do conservatives say too much is being spent on the military.

When would it be enough?

Somebody at least give me a number, a goal, a limit, something from the right that would refute the notion that when it comes to the military...

...we can never spend enough.

I am for it.

Cutting spending means cutting spending.

Get our soldiers out of every nation first that is not necessary for us to be there. Then, afterward, slowly get out of the others.

 

[Procrustes Stretched]

Another liberal talking point from none other than Dante. lol


Another lefty that hates Hannity. Any surprise there?

Lefty? Hate Hannity?

He could have been talking to me....

He/she also could have been talking to him/herself.

 

[Soggy in NOLA]

Clinton left a surplus, no......bush did NOT inherit a recession.

You haven't much use for reality do you? Clinton did not leave a surplus. We were 5.6 TRILLION in debt when Clinton left office. But you keep lying to yourself... that always works well.

 

[Soggy in NOLA]

You can always tell a racist by their blaming the CRA for the Bush depression.

What does this even mean?

 

[CMike]

Clinton was president for the year 2000, retard.

1/10 of the argument addressed........

OK, so the great Bush economy nearly doubled the stable 3.9% UE rate Clinton passed on to Bush, to the steadily increasing 7.4% UE rate Bush passed on to Obama.

Obama increased unemplyoment over 30%, and when the democrats took over congress, they managed with Obama to increase the unemployment rate about 130%

 

[CMike]

You can always tell a racist by their blaming the CRA for the Bush depression.

What does this even mean?

It means that a neo liberal has no logical explanation.

 

[edthecynic]

The dems pushed the Community Reinvestment Act that gave mortgages to the unqualified, who promptly defaulted and caused the financial meltdown.

The dems caused it, and the dems can take the blame for it.

You can always tell a racist by their blaming the CRA for the Bush depression. The CRA required banks to make loans to QUALIFIED minorities, but to racists no minority is ever qualified for a loan.

Default rates on CRA loans were 1.8% as opposed to 5% overall in the mortgage market. The bill that made loans to unqualified borrowers with bad credit was Bush's Dec 2003 "American Dream Downpayment Initiative" ADDI.

You can always tell a racist by their blaming the CRA for the Bush depression.

What does this even mean?

You can always tell a racist by their blaming the CRA for the Bush depression.

What does this even mean?

It means that a neo liberal has no logical explanation.

It means you both know I'm right by the way the undeniably logical explanation was cropped out!!!!

To racists no minority is ever under any circumstance qualified for a loan! So since the CRA made loans to minorities, to a racist as exemplified by the post I replied to, the CRA made loans to unqualified people no matter how low the default rate was. The CRA is the racist's scapegoat, therefore anyone who blames the Bush depression on the CRA is by definition a racist.