How George W. Bush's Two Tax Cuts, 2001 and 2003 Screwed The Pooch

[Iceweasel]

and yet the govt was collecting record revenue ......oooops

ONLY in the right wing bubble Bubba'


Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves

Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."


Bush Treasury Secretary Paulson: "As A General Rule, I Don't Believe That Tax Cuts Pay For Themselves."

Bush OMB Director Nussle: "Some Say That [The Tax Cut] Was A Total Loss. Some Say They Totally Pay For Themselves. It's Neither Extreme."


Bush CEA Chairman Lazear: "As A General Rule, We Do Not Think Tax Cuts Pay For Themselves."


Bush Economic Adviser Viard: "Federal Revenue Is Lower Today Than It Would Have Been Without The Tax Cuts."


Bush Treasury Official Carroll: "We Do Not Think Tax Cuts Pay For Themselves."


Reagan Chief Economist Feldstein: "It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."

Feldstein In 1986: "Hyperbole" That Reagan Tax Cut "Would Actually Increase Tax Revenue."

Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."

Tax Foundation's Prante: "A Stretch" To Claim "Cutting Capital Gains Taxes Raises Tax Revenues."

yes record revenue....and today you are taking in substantially more and still running huge deficits...ooooops

Deficits have been steadily declining....

What does projected income have to do with deficits?

What do you think you are getting at?

That you have nothing.

 

[Iceweasel]

You poor simpleton. Reagan turns things around after Carter and you're here all these years later trying to make Jimmy the victim. I remember the Carter and Reagan years, you stupid fuck. You don't get to rewrite history to satisfy your hate.

Presidents And Prosperity

Because budget projections in early 1981 called for
massive surpluses, it was possible, based upon the data then known, to cut taxes, increase defense, and still balance the budget. Regarding the economic forecast, the Reagan package of projections were, at most, only mildly more optimistic than other forecasts at the time.

http://www.law.gmu.edu/assets/files/publications/working_papers/00-05.pdf

Any questions?

Yes. What's your point? Are you trying to give Carter the credit?

I'm here to school you....

Did you have any other questions?

You can't school a gerbil apparently. You make no sense.

Perhaps you should go back to being a Useful Idiot at Daily Caller, or Breitbart......

With what part of the facts you've been presented are you struggling?

....still nothing.

 

[IcebergSlim]

Presidents And Prosperity

Because budget projections in early 1981 called for
massive surpluses, it was possible, based upon the data then known, to cut taxes, increase defense, and still balance the budget. Regarding the economic forecast, the Reagan package of projections were, at most, only mildly more optimistic than other forecasts at the time.

http://www.law.gmu.edu/assets/files/publications/working_papers/00-05.pdf

Any questions?

Yes. What's your point? Are you trying to give Carter the credit?

I'm here to school you....

Did you have any other questions?

You can't school a gerbil apparently. You make no sense.

Perhaps you should go back to being a Useful Idiot at Daily Caller, or Breitbart......

With what part of the facts you've been presented are you struggling?

....still nothing.

I've got you hobbling around in circles, talking to yourself...

Now where did you think you were going with "projected income"?

 

[healthmyths]

So...we are only allowed to discuss last year's deficit. Is that right?

Lower every year since FY 2009......Expected to be lower again for FY 2015

Any questions?

YUP!!! I have a question!
Did these events happen or NOT???
Just once I want you and your fellow ostrich to tell me where were you from 2000 to 2008 that you have NO memory
of these events occurring? Tell me they never happened OK? Tell the thousands that lost their jobs due to recession started
under Clinton... remember recession don't just start like turning a faucet on 03/2001! They had a decline starting in 2000!
Tell the thousands that died in 9/11 and the hurricanes.... tell them those events didn't happen OK??

Recession Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months

A Major $5 trillion market loss Are you aware that the dot.com bust occurred and cost $5 trillion in market losses?
AND GUESS WHAT LOSSES shelter other income from taxes! So during the past few years these $5 trillion in losses have been against tax payments!

Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year!
$5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion

The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives,
$2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World

SO AGAIN you totally ignorant people like you don't seem to know THOSE ARE BUSINESS LOSSES as well as NO INCOME coming in to the
companies!
Remember the Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
I lived through it and like millions had hesitation to open any suspicious envelope. That happened millions of times!

$1 trillion in losses due to the WORST Hurricane SEASONS in history.
Again idiots like you TOTALLY forget these were the worst hurricane SEASONS in history! The worst! No presidency every faced the following:
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005.
It took 1,836 lives and caused $81.2 billion in damages.
It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground

THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details: Federal State Local for 2008 - Charts

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?

So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..

So I would say GWB was fairly involved in the above YET his administration tried:

"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded and even ridiculed :
, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank's Fannie and Freddie Muddle
Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Healthmyths -

Yea.....I got a narrative for that!

You can see the effects on nominal GDP of events from 2000-2012 here...

Here you can see the relative damage wrought by various recessions...

Be sure to file these in that bilge dump you have fasioned...

ALSO you are showing a graph that covers from 1948 to 2007!
BUT the above events affected the GDP over 59 years!
AND more importantly you should singular events, Oil crisis 1980.. Arab oil 1973... JUST 4 events in that 59 years!
But the AFFECT on GDP from 2001 to 2008 WERE FROM 5 Events in 8 years!
So of course there was a later affect on GDP as thousands of jobs were lost due to 9/11, Recession, hurricanes, and the tech bubble!
In 8 years. So of course your graph shows an affect that was compounded by those events in those 8 years including homes destroyed!

You don't pay much attention, do you?

I showed you the trends in nominal GDP from 2000-2012......

If you want to grasp the economic effects of all the hysterical pap you spew, it will be evident in those numbers.....

If you want to discuss what happened BEFORE, I'm here for ya, dawg....

Why are you showing TRENDS from 1948 to 2007???

And you also agree then that the lower GDP WAS caused by the 2001 recession, the dot.com bust, 9/11, the worst hurricane SEASONS and with those events we had people losing JOBS which in turn caused mortgage payments of good employed people not to be paid and
therefore contributed to the collapse of housing which lead to the 2007 recession.
YOU agree then that by taking those people out of work due to
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
This is what the Federal government grossed and when you subtract TARP which has been paid back that $458 billion deficit
becomes a surplus!

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

 

[Iceweasel]

Yes. What's your point? Are you trying to give Carter the credit?

I'm here to school you....

Did you have any other questions?

You can't school a gerbil apparently. You make no sense.

Perhaps you should go back to being a Useful Idiot at Daily Caller, or Breitbart......

With what part of the facts you've been presented are you struggling?

....still nothing.

I've got you hobbling around in circles, talking to yourself...

Now where did you think you were going with "projected income"?

You don't have anything, that was my point. You don't have me doing anything but. You're a dimwitted hateful asshole trying to rewrite history, nothing more.

 

[IcebergSlim]

Lower every year since FY 2009......Expected to be lower again for FY 2015

Any questions?

YUP!!! I have a question!
Did these events happen or NOT???
Just once I want you and your fellow ostrich to tell me where were you from 2000 to 2008 that you have NO memory
of these events occurring? Tell me they never happened OK? Tell the thousands that lost their jobs due to recession started
under Clinton... remember recession don't just start like turning a faucet on 03/2001! They had a decline starting in 2000!
Tell the thousands that died in 9/11 and the hurricanes.... tell them those events didn't happen OK??

Recession Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months

A Major $5 trillion market loss Are you aware that the dot.com bust occurred and cost $5 trillion in market losses?
AND GUESS WHAT LOSSES shelter other income from taxes! So during the past few years these $5 trillion in losses have been against tax payments!

Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year!
$5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion

The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives,
$2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World

SO AGAIN you totally ignorant people like you don't seem to know THOSE ARE BUSINESS LOSSES as well as NO INCOME coming in to the
companies!
Remember the Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
I lived through it and like millions had hesitation to open any suspicious envelope. That happened millions of times!

$1 trillion in losses due to the WORST Hurricane SEASONS in history.
Again idiots like you TOTALLY forget these were the worst hurricane SEASONS in history! The worst! No presidency every faced the following:
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005.
It took 1,836 lives and caused $81.2 billion in damages.
It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground

THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details: Federal State Local for 2008 - Charts

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?

So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..

So I would say GWB was fairly involved in the above YET his administration tried:

"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded and even ridiculed :
, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank's Fannie and Freddie Muddle
Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Healthmyths -

Yea.....I got a narrative for that!

You can see the effects on nominal GDP of events from 2000-2012 here...

Here you can see the relative damage wrought by various recessions...

Be sure to file these in that bilge dump you have fasioned...

ALSO you are showing a graph that covers from 1948 to 2007!
BUT the above events affected the GDP over 59 years!
AND more importantly you should singular events, Oil crisis 1980.. Arab oil 1973... JUST 4 events in that 59 years!
But the AFFECT on GDP from 2001 to 2008 WERE FROM 5 Events in 8 years!
So of course there was a later affect on GDP as thousands of jobs were lost due to 9/11, Recession, hurricanes, and the tech bubble!
In 8 years. So of course your graph shows an affect that was compounded by those events in those 8 years including homes destroyed!

You don't pay much attention, do you?

I showed you the trends in nominal GDP from 2000-2012......

If you want to grasp the economic effects of all the hysterical pap you spew, it will be evident in those numbers.....

If you want to discuss what happened BEFORE, I'm here for ya, dawg....

Why are you showing TRENDS from 1948 to 2007???

And you also agree then that the lower GDP WAS caused by the 2001 recession, the dot.com bust, 9/11, the worst hurricane SEASONS and with those events we had people losing JOBS which in turn caused mortgage payments of good employed people not to be paid and
therefore contributed to the collapse of housing which lead to the 2007 recession.
YOU agree then that by taking those people out of work due to
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
This is what the Federal government grossed and when you subtract TARP which has been paid back that $458 billion deficit
becomes a surplus!

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Who is showing trends from 1940-2007?

 

[IcebergSlim]

I'm here to school you....

Did you have any other questions?

You can't school a gerbil apparently. You make no sense.

Perhaps you should go back to being a Useful Idiot at Daily Caller, or Breitbart......

With what part of the facts you've been presented are you struggling?

....still nothing.

I've got you hobbling around in circles, talking to yourself...

Now where did you think you were going with "projected income"?

You don't have anything, that was my point. You don't have me doing anything but. You're a dimwitted hateful asshole trying to rewrite history, nothing more.

Are you walking back the "projected income" blather (at least you are committing to a direction)?

Better part of valor....

 

[IcebergSlim]

Lower every year since FY 2009......Expected to be lower again for FY 2015

Any questions?

YUP!!! I have a question!
Did these events happen or NOT???
Just once I want you and your fellow ostrich to tell me where were you from 2000 to 2008 that you have NO memory
of these events occurring? Tell me they never happened OK? Tell the thousands that lost their jobs due to recession started
under Clinton... remember recession don't just start like turning a faucet on 03/2001! They had a decline starting in 2000!
Tell the thousands that died in 9/11 and the hurricanes.... tell them those events didn't happen OK??

Recession Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months

A Major $5 trillion market loss Are you aware that the dot.com bust occurred and cost $5 trillion in market losses?
AND GUESS WHAT LOSSES shelter other income from taxes! So during the past few years these $5 trillion in losses have been against tax payments!

Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year!
$5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion

The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives,
$2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World

SO AGAIN you totally ignorant people like you don't seem to know THOSE ARE BUSINESS LOSSES as well as NO INCOME coming in to the
companies!
Remember the Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
I lived through it and like millions had hesitation to open any suspicious envelope. That happened millions of times!

$1 trillion in losses due to the WORST Hurricane SEASONS in history.
Again idiots like you TOTALLY forget these were the worst hurricane SEASONS in history! The worst! No presidency every faced the following:
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005.
It took 1,836 lives and caused $81.2 billion in damages.
It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground

THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details: Federal State Local for 2008 - Charts

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?

So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..

So I would say GWB was fairly involved in the above YET his administration tried:

"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded and even ridiculed :
, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank's Fannie and Freddie Muddle
Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Healthmyths -

Yea.....I got a narrative for that!

You can see the effects on nominal GDP of events from 2000-2012 here...

Here you can see the relative damage wrought by various recessions...

Be sure to file these in that bilge dump you have fasioned...

ALSO you are showing a graph that covers from 1948 to 2007!
BUT the above events affected the GDP over 59 years!
AND more importantly you should singular events, Oil crisis 1980.. Arab oil 1973... JUST 4 events in that 59 years!
But the AFFECT on GDP from 2001 to 2008 WERE FROM 5 Events in 8 years!
So of course there was a later affect on GDP as thousands of jobs were lost due to 9/11, Recession, hurricanes, and the tech bubble!
In 8 years. So of course your graph shows an affect that was compounded by those events in those 8 years including homes destroyed!

You don't pay much attention, do you?

I showed you the trends in nominal GDP from 2000-2012......

If you want to grasp the economic effects of all the hysterical pap you spew, it will be evident in those numbers.....

If you want to discuss what happened BEFORE, I'm here for ya, dawg....

Why are you showing TRENDS from 1948 to 2007???

And you also agree then that the lower GDP WAS caused by the 2001 recession, the dot.com bust, 9/11, the worst hurricane SEASONS and with those events we had people losing JOBS which in turn caused mortgage payments of good employed people not to be paid and
therefore contributed to the collapse of housing which lead to the 2007 recession.
YOU agree then that by taking those people out of work due to
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
This is what the Federal government grossed and when you subtract TARP which has been paid back that $458 billion deficit
becomes a surplus!

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Uh...Moron?

FY 2008 didn't include any TARP spending.....You are "thinking" FY 2009.....

 

[Stephanie]

you ever thought you'd see the day they would wail and howl over TAX CUTS that gave YOUR money back to you? I'm just shocked that anyone, let alone our fellow countrymen is the one whining about it. what a government tool

 

[IcebergSlim]

you ever thought you'd see the day they would wail and howl over TAX CUTS that gave YOUR money back to you? I'm just shocked that anyone, let alone our fellow countrymen is the one whining about it. what a government tool

What do you think financed Scrub's 7%+ annual growth in federal spending, Recidivist Supply Side Voting Sucker?

 

[Faun]

Dems are just as much to blame for the housing crash as the gop,
and if it was so important, why didn't barack obama even vote on it.
Bret Bair is one the most respected journalist there is

How does one member of the minority party, who didn't block any GSE reform legislation, get the blame for the majority party in control of the Congress failing to pass such legislation?

 

[Faun]

Dems are just as much to blame for the housing crash as the gop,
and if it was so important, why didn't barack obama even vote on it.

Why didn't Obama vote on what?

 

[Iceweasel]

Are you walking back the "projected income" blather (at least you are committing to a direction)?

Better part of valor....

I asked what it had to do with it. How can I walk back a point I didn't make? Thanks for confirming your idiot status.

 

[Iceweasel]

you ever thought you'd see the day they would wail and howl over TAX CUTS that gave YOUR money back to you? I'm just shocked that anyone, let alone our fellow countrymen is the one whining about it. what a government tool

What do you think financed Scrub's 7%+ annual growth in federal spending, Recidivist Supply Side Voting Sucker?

Scrub? This boy is still deranged from the 90s!

 

[IcebergSlim]

Are you walking back the "projected income" blather (at least you are committing to a direction)?

Better part of valor....

I asked what it had to do with it. How can I walk back a point I didn't make? Thanks for confirming your idiot status.

Who said anything about "projected income"?

I made mention of the deficit projections for FY 2015....which is coming to a close in less than a week....

and the Feds keep a running tally on receipts.....

 

[IcebergSlim]

you ever thought you'd see the day they would wail and howl over TAX CUTS that gave YOUR money back to you? I'm just shocked that anyone, let alone our fellow countrymen is the one whining about it. what a government tool

What do you think financed Scrub's 7%+ annual growth in federal spending, Recidivist Supply Side Voting Sucker?

Scrub? This boy is still deranged from the 90s!

The Inarticulate Deserter, if you prefer......or as historians polled on the question put it

The Worst POTUS of the Modern Era....

 

[Iceweasel]

TROLL ALERT

you ever thought you'd see the day they would wail and howl over TAX CUTS that gave YOUR money back to you? I'm just shocked that anyone, let alone our fellow countrymen is the one whining about it. what a government tool

What do you think financed Scrub's 7%+ annual growth in federal spending, Recidivist Supply Side Voting Sucker?

Scrub? This boy is still deranged from the 90s!

The Inarticulate Deserter, if you prefer......or as historians polled on the question put it

The Worst POTUS of the Modern Era....

 

[healthmyths]

YUP!!! I have a question!
Did these events happen or NOT???
Just once I want you and your fellow ostrich to tell me where were you from 2000 to 2008 that you have NO memory
of these events occurring? Tell me they never happened OK? Tell the thousands that lost their jobs due to recession started
under Clinton... remember recession don't just start like turning a faucet on 03/2001! They had a decline starting in 2000!
Tell the thousands that died in 9/11 and the hurricanes.... tell them those events didn't happen OK??

Recession Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months

A Major $5 trillion market loss Are you aware that the dot.com bust occurred and cost $5 trillion in market losses?
AND GUESS WHAT LOSSES shelter other income from taxes! So during the past few years these $5 trillion in losses have been against tax payments!

Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year!
$5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion

The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives,
$2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World

SO AGAIN you totally ignorant people like you don't seem to know THOSE ARE BUSINESS LOSSES as well as NO INCOME coming in to the
companies!
Remember the Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
I lived through it and like millions had hesitation to open any suspicious envelope. That happened millions of times!

$1 trillion in losses due to the WORST Hurricane SEASONS in history.
Again idiots like you TOTALLY forget these were the worst hurricane SEASONS in history! The worst! No presidency every faced the following:
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005.
It took 1,836 lives and caused $81.2 billion in damages.
It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground

THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details: Federal State Local for 2008 - Charts

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?

So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..

So I would say GWB was fairly involved in the above YET his administration tried:

"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded and even ridiculed :
, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank's Fannie and Freddie Muddle
Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Healthmyths -

Yea.....I got a narrative for that!

You can see the effects on nominal GDP of events from 2000-2012 here...

Here you can see the relative damage wrought by various recessions...

Be sure to file these in that bilge dump you have fasioned...

ALSO you are showing a graph that covers from 1948 to 2007!
BUT the above events affected the GDP over 59 years!
AND more importantly you should singular events, Oil crisis 1980.. Arab oil 1973... JUST 4 events in that 59 years!
But the AFFECT on GDP from 2001 to 2008 WERE FROM 5 Events in 8 years!
So of course there was a later affect on GDP as thousands of jobs were lost due to 9/11, Recession, hurricanes, and the tech bubble!
In 8 years. So of course your graph shows an affect that was compounded by those events in those 8 years including homes destroyed!

You don't pay much attention, do you?

I showed you the trends in nominal GDP from 2000-2012......

If you want to grasp the economic effects of all the hysterical pap you spew, it will be evident in those numbers.....

If you want to discuss what happened BEFORE, I'm here for ya, dawg....

Why are you showing TRENDS from 1948 to 2007???

And you also agree then that the lower GDP WAS caused by the 2001 recession, the dot.com bust, 9/11, the worst hurricane SEASONS and with those events we had people losing JOBS which in turn caused mortgage payments of good employed people not to be paid and
therefore contributed to the collapse of housing which lead to the 2007 recession.
YOU agree then that by taking those people out of work due to
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
This is what the Federal government grossed and when you subtract TARP which has been paid back that $458 billion deficit
becomes a surplus!

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Uh...Moron?

FY 2008 didn't include any TARP spending.....You are "thinking" FY 2009.....

The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.

YUP!!! I have a question!
Did these events happen or NOT???
Just once I want you and your fellow ostrich to tell me where were you from 2000 to 2008 that you have NO memory
of these events occurring? Tell me they never happened OK? Tell the thousands that lost their jobs due to recession started
under Clinton... remember recession don't just start like turning a faucet on 03/2001! They had a decline starting in 2000!
Tell the thousands that died in 9/11 and the hurricanes.... tell them those events didn't happen OK??

Recession Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months

A Major $5 trillion market loss Are you aware that the dot.com bust occurred and cost $5 trillion in market losses?
AND GUESS WHAT LOSSES shelter other income from taxes! So during the past few years these $5 trillion in losses have been against tax payments!

Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year!
$5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion

The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives,
$2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World

SO AGAIN you totally ignorant people like you don't seem to know THOSE ARE BUSINESS LOSSES as well as NO INCOME coming in to the
companies!
Remember the Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
I lived through it and like millions had hesitation to open any suspicious envelope. That happened millions of times!

$1 trillion in losses due to the WORST Hurricane SEASONS in history.
Again idiots like you TOTALLY forget these were the worst hurricane SEASONS in history! The worst! No presidency every faced the following:
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005.
It took 1,836 lives and caused $81.2 billion in damages.
It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground

THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:

AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details: Federal State Local for 2008 - Charts

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?

So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..

So I would say GWB was fairly involved in the above YET his administration tried:

"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded and even ridiculed :
, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank's Fannie and Freddie Muddle
Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Healthmyths -

Yea.....I got a narrative for that!

You can see the effects on nominal GDP of events from 2000-2012 here...

Here you can see the relative damage wrought by various recessions...

Be sure to file these in that bilge dump you have fasioned...

ALSO you are showing a graph that covers from 1948 to 2007!
BUT the above events affected the GDP over 59 years!
AND more importantly you should singular events, Oil crisis 1980.. Arab oil 1973... JUST 4 events in that 59 years!
But the AFFECT on GDP from 2001 to 2008 WERE FROM 5 Events in 8 years!
So of course there was a later affect on GDP as thousands of jobs were lost due to 9/11, Recession, hurricanes, and the tech bubble!
In 8 years. So of course your graph shows an affect that was compounded by those events in those 8 years including homes destroyed!

You don't pay much attention, do you?

I showed you the trends in nominal GDP from 2000-2012......

If you want to grasp the economic effects of all the hysterical pap you spew, it will be evident in those numbers.....

If you want to discuss what happened BEFORE, I'm here for ya, dawg....

Why are you showing TRENDS from 1948 to 2007???

And you also agree then that the lower GDP WAS caused by the 2001 recession, the dot.com bust, 9/11, the worst hurricane SEASONS and with those events we had people losing JOBS which in turn caused mortgage payments of good employed people not to be paid and
therefore contributed to the collapse of housing which lead to the 2007 recession.
YOU agree then that by taking those people out of work due to
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
This is what the Federal government grossed and when you subtract TARP which has been paid back that $458 billion deficit
becomes a surplus!

2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary

Uh...Moron?

FY 2008 didn't include any TARP spending.....You are "thinking" FY 2009.....

Not Obama’s Idea: Some partisans on the right might forget that the TARP program was born under President George W. Bush and signed into law on Oct. 3, 2008 — a month before voters even went to the ballot box and more than two months before Barack Obama’s inauguration.
2008 TARP Funds -- Where Are They Now? | InvestorPlace

All of you bashers Blame Bush for TARP right????

Once and for all here are the FACTS!!!
A summary of below:
Revenue from Bush started from end of 2002 to end of 2009 because Revenue for 2001 due to Clinton policies.
So 2002 to 2009 revenues: $17.273 trillion
and outlays the same from end of 2002 to end of 2009
Outlays $20.820 trillion
Total shortfall $3.547 trillion

Obama:
From 2010 tax receipts he is responsible for to 2017 or $23.169 trillion.
Obama's administration responsible for outlay from 2010 to 2017 or $29.534 trillion
Total shortfall Obama responsible for: $6.365 trillion:
Total Obama shortfall is 179% of Bush Shortfall.
And remember Obama also benefitting from received BACK from TARP $672 Billion.
So either subtract the $616.6 Billion in TARP OUTLAYS that was part of the Bush OUTLAYS in 2009
Or Subtract $672.8 Billion TARP PAID BACK to day from Obama Receipts.
Either way will increase the percent of 179% more then Bush for Obama to nearly 200%.
So once again FACTS have a way of confusing people like you I'm sure!!!!

 

[Dad2three]

and yet the govt was collecting record revenue ......oooops

ONLY in the right wing bubble Bubba'


Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves

Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."


Bush Treasury Secretary Paulson: "As A General Rule, I Don't Believe That Tax Cuts Pay For Themselves."

Bush OMB Director Nussle: "Some Say That [The Tax Cut] Was A Total Loss. Some Say They Totally Pay For Themselves. It's Neither Extreme."


Bush CEA Chairman Lazear: "As A General Rule, We Do Not Think Tax Cuts Pay For Themselves."


Bush Economic Adviser Viard: "Federal Revenue Is Lower Today Than It Would Have Been Without The Tax Cuts."


Bush Treasury Official Carroll: "We Do Not Think Tax Cuts Pay For Themselves."


Reagan Chief Economist Feldstein: "It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."

Feldstein In 1986: "Hyperbole" That Reagan Tax Cut "Would Actually Increase Tax Revenue."

Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."

Tax Foundation's Prante: "A Stretch" To Claim "Cutting Capital Gains Taxes Raises Tax Revenues."

yes record revenue....and today you are taking in substantially more and still running huge deficits...ooooops

FactCheck.org: "Revenues Would Have Been Even Higher Without [The Bush Tax Cuts]." FactCheck.org concluded on June 11, 2007, that "it is clear" the Bush tax cuts of 2001 and 2003 "did not 'increase revenues'" as Sen. John McCain had claimed. The post further stated:

The Congressional Budget Office, the Treasury Department, the Joint Committee on Taxation, the White House's Council of Economic Advisers and a former Bush administration economist all say that tax cuts lead to revenues that are lower than they otherwise would have been -- even if they spur some economic growth.

The Impact of Tax Cuts

Ifs and buts.....smoke and mirrors.........perhaps tax cuts fired the economy...........thus the extra revenue...

"..perhaps tax cuts fired the economy...........thus the extra revenue..."


IF YOU MEANT DID DUBYA'S INHERIT AN ECONOMY THAT HAD 20% OF GDP THEN PROMPTLY LOWERED IT O BELOW 15% OF GDP, THE WAY ECONOMIST LOOK AT IT, TRUE


October 17, 2008

The Economic Blue Screen of Death

James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term. Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off.

The Economic Blue Screen of Death

 

[Dad2three]

And as another recent CBPP analysis revealed, over the next 10 years, the Bush tax cuts if made permanent will contribute more to the U.S. budget deficit than the Obama stimulus, the TARP program, the wars in Afghanistan and Iraq, and revenue lost to the recession put together.



The Bush tax cuts didn't come anywhere close to paying for themselves. And making them permanent is the very worst thing the so-called deficit hawks could do to reduce the U.S. debt.

By now, you get the picture. But as the "10 Republican Lies about the Bush Tax Cuts" reveals, the GOP's strategy requires that you don't. As Paul Krugman summarized the latest Republican pitch for the rich:

And where would this $680 billion go? Nearly all of it would go to the richest 1 percent of Americans, people with incomes of more than $500,000 a year. But that's the least of it: the policy center's estimates say that the majority of the tax cuts would go to the richest one-tenth of 1 percent. Take a group of 1,000 randomly selected Americans, and pick the one with the highest income; he's going to get the majority of that group's tax break. And the average tax break for those lucky few -- the poorest members of the group have annual incomes of more than $2 million, and the average member makes more than $7 million a year -- would be $3 million over the course of the next decade.


The Bush Tax Cuts in Pictures

right now Obama is running even higher record revenue and still massive deficits.........

If you meant Obama got US back up to where Ronnie gutted revenues to, 17% of GDP from Dubya's 15% true, but still shy of Carter's 19.7% or Clinton's 20% of GDP AND DUBYA/GOP POLICY ARE STILL HOSING US, TRUE