- Sep 19, 2011
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I don't remember a single day of the Obama administration when there wasn't some type of national earth-ending crisis.
I DO remember days during Bush when there were no crises EXCLUDING these crises which Obama could NOT handle.
2001 recession, dot.com bust, 9/11 worst hurricane SEASONS all REAL crisis.
The 2001 recession began in March that year, so today's announcement makes it an eight-month downturn.
USATODAY.com - It's official: 2001 recession only lasted eight months
DID THIS HAPPEN??
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 over $20 billion written off against taxes owed.
300,000 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
DID THIS HAPPEN??
2) Did YOU forget that 9/11 occurred and it cost $2 trillion over the next 30 years again $8 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!!
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
DID THIS HAPPEN??
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
All of this while having almost $60 billion a year in lower tax revenue due to the above losses !
The HIGHEST gross REVENUE to the Federal Government in HISTORY.. 2007 2,567,985,000 Revenues ; Expenses:$2,728,686,00 -160,701 deficit decline
Historical Tables | The White House
BUT this administration LOVES crises!
Rule one: Never allow a crisis to go to waste, Mr. Emanuel (former Obama chief of staff)said They are opportunities to do big things.
RIGHT BIG THINGS!!!
I DO remember days during Bush when there were no crises EXCLUDING these crises which Obama could NOT handle.
2001 recession, dot.com bust, 9/11 worst hurricane SEASONS all REAL crisis.
The 2001 recession began in March that year, so today's announcement makes it an eight-month downturn.
USATODAY.com - It's official: 2001 recession only lasted eight months
DID THIS HAPPEN??
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 over $20 billion written off against taxes owed.
300,000 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
DID THIS HAPPEN??
2) Did YOU forget that 9/11 occurred and it cost $2 trillion over the next 30 years again $8 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!!
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
DID THIS HAPPEN??
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
All of this while having almost $60 billion a year in lower tax revenue due to the above losses !
The HIGHEST gross REVENUE to the Federal Government in HISTORY.. 2007 2,567,985,000 Revenues ; Expenses:$2,728,686,00 -160,701 deficit decline
Historical Tables | The White House
BUT this administration LOVES crises!
Rule one: Never allow a crisis to go to waste, Mr. Emanuel (former Obama chief of staff)said They are opportunities to do big things.
RIGHT BIG THINGS!!!
