The worst economy since The Great Depression

[TheGreatGatsby]

Congratulations Obama. Your 41st month in a row of unemployment of 8 percent or higher marks the first time that that has been done since The Great Depression.

Source: June jobs swoon: America’s labor market depression continues | AEIdeas

And "the amateur's" team said that if the $800 billion stimulus was passed then unemployment would drop to 5.6 percent.

This continues to be the longest streak — 41 months — of unemployment of 8% or higher since the Great Depression. And recall that back in 2009, Team Obama predicted that if Congress passed its $800 billion stimulus plan, the unemployment rate would be around 5.6% today.

 

[TheGreatGatsby]

Obama, you've made the worst economy since The Great Depression, what are you going to do next?

 

[Mac1958]

.

Comparing this to the Great Depression is certainly understandable, but the fact remains: This disaster took decades to create, and it may well take decades to unwind. The partisans can point the finger all they want, but this a far deeper, far more complex, and far more culture-related situation. It's not going away soon, regardless of the political affiliation of the President.

But by all means, let's keep things real simple and just point the finger at "the other guys".

.

 

[regent]

Republicans create depressions/recessions and then get upset because the Democrats take so long to fix them. They are still peeing and moaning that FDR took so long and that it took a war to completely recover from the Great Depression, but not a word about Hoover or Bush. In fact, Bush seems to have never existed, his term has become complete set of blank pages in the Republican history books. The Texas history books have probably gone from Clinton to Obama.

 

[Widdekind]

everybody is complaining about public-sector government (Pres. Obama) not repairing the private-sector economy. What about the private-sector repairing itself ?

 

[Moonglow]

everybody is complaining about public-sector government (Pres. Obama) not repairing the private-sector economy. What about the private-sector repairing itself ?

that is the way it always works.

 

[iamwhatiseem]

.

Comparing this to the Great Depression is certainly understandable, but the fact remains: This disaster took decades to create, and it may well take decades to unwind. The partisans can point the finger all they want, but this a far deeper, far more complex, and far more culture-related situation. It's not going away soon, regardless of the political affiliation of the President.

But by all means, let's keep things real simple and just point the finger at "the other guys".

.

No.
It isn't complex at all.
Key components of the Great Depression...let's see if they sound familiar...

1) Government sponsored cheap credit for an extended period
2) Population had a negative savings rate
3) The stock market was heavily over-valued
4) Banks were precariously overly exposed
5) Investment firms were hiding risks
6) The general economy was dependent on consumer over consumption

All of these will always be the end result of a runaway plutocratic governance....like today. And Obama is a very, very dutiful servant to Wall Street.

 

[Big Fitz]

Congratulations Obama. Your 41st month in a row of unemployment of 8 percent or higher marks the first time that that has been done since The Great Depression.

Source: June jobs swoon: America’s labor market depression continues | AEIdeas

And "the amateur's" team said that if the $800 billion stimulus was passed then unemployment would drop to 5.6 percent.

This continues to be the longest streak — 41 months — of unemployment of 8% or higher since the Great Depression. And recall that back in 2009, Team Obama predicted that if Congress passed its $800 billion stimulus plan, the unemployment rate would be around 5.6% today.

At least it's true this time when it's said.

 

[Rshermr]

Congratulations Obama. Your 41st month in a row of unemployment of 8 percent or higher marks the first time that that has been done since The Great Depression.

Source: June jobs swoon: America’s labor market depression continues | AEIdeas

And "the amateur's" team said that if the $800 billion stimulus was passed then unemployment would drop to 5.6 percent.

This continues to be the longest streak — 41 months — of unemployment of 8% or higher since the Great Depression. And recall that back in 2009, Team Obama predicted that if Congress passed its $800 billion stimulus plan, the unemployment rate would be around 5.6% today.

At least it's true this time when it's said.

So, instead of making accusations, why are you unable to discuss what past repubs have done to decrease unemployment in a bad economy? My bet is that you can not.

 

[Big Fitz]

Congratulations Obama. Your 41st month in a row of unemployment of 8 percent or higher marks the first time that that has been done since The Great Depression.

Source: June jobs swoon: America’s labor market depression continues | AEIdeas

And "the amateur's" team said that if the $800 billion stimulus was passed then unemployment would drop to 5.6 percent.

At least it's true this time when it's said.

So, instead of making accusations, why are you unable to discuss what past repubs have done to decrease unemployment in a bad economy? My bet is that you can not.

I dunno. Reagan fared pretty darn well ending Carter's Stagflation. Maybe we should do what he did again. Cut taxes, bust unions and deregulate.

 

[Rshermr]

At least it's true this time when it's said.

So, instead of making accusations, why are you unable to discuss what past repubs have done to decrease unemployment in a bad economy? My bet is that you can not.

I dunno. Reagan fared pretty darn well ending Carter's Stagflation. Maybe we should do what he did again. Cut taxes, bust unions and deregulate.

Apparently you do not know much about the Reagan administration. Here is a little actual truth.
After the great reagan tax cut in 2001, the unemployment rate went up to about 11 percent, from 7 percent at the beginning of his regime, within just over a year. And, during the same time, receipts to the gov dropped badly and the deficit soared.

So, Reagan did the following: 1. raised taxes on 11 seperate occasions. Negated about half of his very large tax decrease of 2011.
2. Borrowed, and spent, more than all of the presidents up till his term combined. The national debt tripled.
In total, the revenues from tax increases and borrowing, when spent, provided a great amount of stimulus.
If you can find ANY proof that union busting or deregulation helped the unemployment problem, from a non partial source, let me know. I have never seen any such proof.

So, if you are saying we should do what Reagan did, you will find that most economists would agree.

 

[TheGreatGatsby]

So, instead of making accusations, why are you unable to discuss what past repubs have done to decrease unemployment in a bad economy? My bet is that you can not.

I dunno. Reagan fared pretty darn well ending Carter's Stagflation. Maybe we should do what he did again. Cut taxes, bust unions and deregulate.

Apparently you do not know much about the Reagan administration. Here is a little actual truth.
After the great reagan tax cut in 2001, the unemployment rate went up to about 11 percent, from 7 percent at the beginning of his regime, within just over a year. And, during the same time, receipts to the gov dropped badly and the deficit soared.

So, Reagan did the following: 1. raised taxes on 11 seperate occasions. Negated about half of his very large tax decrease of 2011.
2. Borrowed, and spent, more than all of the presidents up till his term combined. The national debt tripled.
In total, the revenues from tax increases and borrowing, when spent, provided a great amount of stimulus.
If you can find ANY proof that union busting or deregulation helped the unemployment problem, from a non partial source, let me know. I have never seen any such proof.

So, if you are saying we should do what Reagan did, you will find that most economists would agree.

You are not being truthful. Reagan dropped the tax rate for every bracket including 60 percent to 28 percent in one bracket and America prospered and revenues went up. Don't come on this board and bold face lie. We've heard em all the time from dickweeds like yourself and everytime you just get picked and discarded.