Obama’s claim that the Bush tax cuts led to the economic crisis

Discussion in 'Politics' started by Freewill, Oct 2, 2012.

  1. Freewill
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    Freewill Gold Member

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  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Let's imagine for the sake of argument that the Bush Tax Cuts caused the Economic Crisis of 2008. What would be the effect of letting them expire in 2013? Good article here:
    On the Cliff | ZeroHedge
     
  3. rdean
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    rdean rddean

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    It was certainly the beginning. Bam. Three trillion. Just like that.
     
  4. The Rabbi
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    The Rabbi Diamond Member

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    A) So why did a solidly Democratic Congress pass and Obama sign their extension?
    B) Three trillion dollars is nothing compared to twice that that Obama has spent.
     
  5. hazlnut
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    hazlnut Gold Member

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    And imagine if we only went to war in the country that has the terrorists.

    The one we're still in.
     
  6. healthmyths
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    healthmyths Gold Member Supporting Member

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    WHAT. the F..k do you think HAPPENED when THESE EVENTS OCCURRED from 2001 through 2008??
    WHERE IS YOUR UNDERSTANDING (INCLUDING SOME REAL IDIOT CONSERVATIVES!) for Bush??

    1.) Dot.com bust cost $5 trillion in lost market value.. this means every year for 30 years now starting in 2000 the federal revenue is less then $166 billion written off against income taxes??? Was that Bush's fault?
    How many people LOST jobs due to the bust??
    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.
    The dot-com bubble: How to lose $5 trillion – Anderson Cooper 360 - CNN.com Blogs

    2) Did YOU forget that 9/11 occurred and it cost $2 trillion over the next 30 years again $66 billion will NOT BE PAiD.. was that Bush's fault?
    Jobs lost in New York owing to the attacks: 146,100 JUST in New York!!
    9. 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.
    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.
    The Top 10 Financial Events of the Decade

    3) $1 trillion in written off losses due to the WORST Hurricane SEASONS in history!

    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. Andrew slammed into South Florida in 1992 as a Category 5. It caused 40 deaths and $30 billion in property damage. More than 250,000 people were left homeless and 82,000 businesses were destroyed or damaged.
    Hurricane Katrina ALONE!
    Year 2005: Hurricanes Katrina and Rita
    On August 25, 2005, Hurricane Katrina hit the Gulf Coast of the U.S. as a strong Category 3 or low Category 4 storm. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.

    Hurricane Rita quickly followed Katrina only to make matters worse. Between the two, more than $200 billion in damage was done. 400,000 jobs were lost and 275,000 homes were destroyed. Many of the jobs and homes were never to be recovered. Hundreds of thousands of people were displaced and over 1,000 were killed and more are missing. The effect on oil and gasoline prices was long-lasting.

    400,000 jobs due to Hurricanes Katrina/Rita
    145,000 jobs in NYC alone due to 9/11
    300,000 jobs lost due to dot.com busts.

    Almost 1 million jobs alone from those 3 events AND Obama cries about Tropical storm Isaac?????


    DO YOU understand NONE of that was Bush's fault!
    $266 billion a year in LOST federal revenue! DO YOU understand and NOT one dollar the fault of Bush!
     
  7. OKTexas
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    OKTexas New Life Member of the NRA 12/15 Supporting Member

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    I tend to agree with you, but next time could you use a slightly larger font, my eyes aren't as good as they use to be. Thanks
     
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  8. Clementine
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    Clementine Platinum Member Supporting Member

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    Okay, bushdidit again. At least he didn't blame it on the youtube video.

    I recall times in the past when the press was relentless when they wanted answers from elected officials. They wouldn't give up till they cornered the president or whoever they felt was withholding information and they'd all gang up on the person till they got to the truth.

    Now they take dictation and reprint it in the newspaper. They ignore anything not in the memo they receive and when another reporter takes their job seriously and informs the people, the state-controlled media commence with name calling and attack the credibility of real reporters.

    The media, who have endless resources for investigating, were so quick to run with the lie about the video and they'll run with this. They could easily find the truth if they wanted to, but that isn't their objective anymore. They are propaganda experts and they'll go the distance for their candidate.
     
  9. Mr. H.
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    Mr. H. Diamond Member

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    I belive that I've just achieved macular regeneration.
     
  10. Erand7899
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    Erand7899 VIP Member

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    It wasn't even the beginning. The Bush tax cuts had nothing to do with the financial crisis, or the 2007 recession.

    However, I am positive that Obama can convince his economically ignorant followers of any claim he makes. They don't know enough to know what he is talking about.
     
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