Another Republican President, Another Recession

[theHawk]

This is an idiotic thread, that only a super partisan dickhead would start.
The idea, that this horror of a recession/depression that we will be entering, can be blamed on the fact that a certain political party is in the WH is astoundingly ignorant.
This is like blaming Jack and Rose for hitting the iceberg.

The recession was coming but instead of preparing for that as well Trump and GOP kept on pumping the economy. Borrowing a trillion a year in a boom is crazy and only makes a crash very hard and expensive. Basic Marco economics 101.

The tax cuts didn't pay for themselves and created a boom in stock buybacks rather than any meaningful job growth.

The pandemic which trump was also unprepared for even though he got warning (in this case he was the captain of the Titanic but with world class radar as well) but he still did nothing...

Trump tries to say none of this could be foreseen but it was and it continues to be...

But Trump isn't the only GOP falling asleep at the wheel:

Georgia's GOP governor admits he just learned asymptomatic people can spread coronavirus

"This is a game changer for us,” Kemp said Wednesday, as he announced a shelter-in-place order in his state.

www.nbcnews.com

Seriously a GOP governor only figured this out on Wednesday and he still thinks it is safe to leave churches open.

By the way Georgia is ranked 39th in states healthcare ranking

https://www.usnews.com/news/best-states/rankings/health-care

God help them...

Yea, tell us how the Dems would had kept a balanced budget.

 

[satrebil]

These kinds of threads just serve to re-enforce how neurotic the left is.

Blaming a political party for a viral pandemic that's shut half the planet down, that's some level 9000 crazy.

 

[LeftofLeft]

Did Trump’s policies get US to a recession? If so, which ones? If Democrats take over, are they going to pursue policies that expedite US out of recession or are they going to pursue policies that necessarily delay recovery and are they going to simply blame the predecessor like they did following the 2008 Election?

 

[Denizen]

In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?

https://www.washingtonpost.com/opinions/2020/04/02/another-gop-president-another-recession/

The short answer? No.

Dopey Donald Trump is setting himself up to be the biggest debt amassing POTUS ever. He will accumulate more debt in one term than Obama did in two terms.

The budget deficit for 2020 is likely to be $ 8+ trillion on top of $ 3 trillion Trump previously accumulated since 2017.

This is like blaming the 2001 New York City budget deficit on the New York City director of public works for clean up of the destroyed WTC buildings.

In fact, just to show our fellow board members here just how stupid you are, your side of the aisle are the ones wanting Trump to spend even more money helping Americans through this crisis.

They want Trump to spend money on helping real people, not just Trump family and Kushner.

 

[JoeB131]

WITH THE TRUMP CRASH, 10 OF THE LAST 11 RECESSIONS, DATING BACK TO THE 1950S ALL OCCURED UNDER GOP PRESIDENTS...

EVERY GOP PRES SINCE TEDDY R HAS HAD A RECESSION.

3 CERTAINTIES, LIFE, DEATH, AND GOP RECESSIONS... THE PARTY OF TOTAL FAILURE.

When I was growing up, my parents said that Republicans gave us Depressions and Democrats gave us wars.

Now Republicans give us both.

 

[JoeB131]

Did Trump’s policies get US to a recession? If so, which ones? If Democrats take over, are they going to pursue policies that expedite US out of recession or are they going to pursue policies that necessarily delay recovery and are they going to simply blame the predecessor like they did following the 2008 Election?

Yes, Trump's policies got us into a recession. His running up of debt, his lack of regulation of financial markets, and his ham-fisted response to Covid-19.

The reality is when the Republicans cause a recession, the usual response is a burst of Keynesian spending that gets us out of it, combined with making the rich pay their fair share. The problem with the last one was that the GOP had just enough influence (along with Democratic timidity) to keep us from doing that. The Obama Stimulus was less than a trillion over three years. The current stimulus is 2 Trillion right now, and we are going to end up spending a lot more.

 

[miketx]

In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?

https://www.washingtonpost.com/opinions/2020/04/02/another-gop-president-another-recession/

The short answer? No.

If you vermin would stop causing it....

 

[miketx]

WITH THE TRUMP CRASH, 10 OF THE LAST 11 RECESSIONS, DATING BACK TO THE 1950S ALL OCCURED UNDER GOP PRESIDENTS...

EVERY GOP PRES SINCE TEDDY R HAS HAD A RECESSION.

3 CERTAINTIES, LIFE, DEATH, AND GOP RECESSIONS... THE PARTY OF TOTAL FAILURE.

When I was growing up, my parents said that Republicans gave us Depressions and Democrats gave us wars.

Now Republicans give us both.

I hope they give all of you the virus.

 

[MeBelle]

We started this millennia with a budget surplus, thanks to President Clinton,

Do you know what a budget surplus is?

Most liberals answer this question wrong.

 

[Claudette]

WITH THE TRUMP CRASH, 10 OF THE LAST 11 RECESSIONS, DATING BACK TO THE 1950S ALL OCCURED UNDER GOP PRESIDENTS...

EVERY GOP PRES SINCE TEDDY R HAS HAD A RECESSION.

3 CERTAINTIES, LIFE, DEATH, AND GOP RECESSIONS... THE PARTY OF TOTAL FAILURE.

9 of the last 10 US recessions began with a GOP President. Why would anyone trust a Republican with the economy again?

House Minority Leader Kevin McCarthy is not a fan of history, apparently.

www.alternet.org

"Trump crash" Lol, what a dumbfuck !

Guess the dumbass missed the pandemic that put people out of work. The economy was doing great up until that point.

The Op sure is a whiny little shit.

 

[RDD_1210]

And when Biden is President, these morons will be complaining that he's not fixing it fast enough.

 

[Fang]

To bad Obama couldn't build a sustainable economy that could withstand a pandemic. Looks like President Trump will have to fix that also.

 

[LeftofLeft]

Did Trump’s policies get US to a recession? If so, which ones? If Democrats take over, are they going to pursue policies that expedite US out of recession or are they going to pursue policies that necessarily delay recovery and are they going to simply blame the predecessor like they did following the 2008 Election?

Yes, Trump's policies got us into a recession. His running up of debt, his lack of regulation of financial markets, and his ham-fisted response to Covid-19.

The reality is when the Republicans cause a recession, the usual response is a burst of Keynesian spending that gets us out of it, combined with making the rich pay their fair share. The problem with the last one was that the GOP had just enough influence (along with Democratic timidity) to keep us from doing that. The Obama Stimulus was less than a trillion over three years. The current stimulus is 2 Trillion right now, and we are going to end up spending a lot more.

Running up the debt - debt ceiling increases, deficit spending - is something I fault all modern Presidents including Trump. The most obvious thing we need to do is cut spending which is the last thing Liberals want to discuss.

The “rich paying their fair share” is a lame, bullshit argument from the Left when they

*can’t define “fair share”,
* ignore the fact the high income earners pay most of the tax bill to begin with,
* Middle Class is necessarily included among the “the rich” in the eyes of the Left
* don’t differentiate between “the rich” and high income earners

So, what is the Democrats plan to get US out of Recession? More hijacking of the healthcare sector? Failed government-funded Climate Change companies? Arbitrary minimum wage increases?

 

[Bruce_T_Laney]

In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?

https://www.washingtonpost.com/opinions/2020/04/02/another-gop-president-another-recession/

The short answer? No.

Hold on!

You are equating the 2008 Recession to what is going on now?

First off a Virus that originated in China that spread World Wide because the Chinese Government did not contain it is what threw our country into this Recession or better yet Depression we are facing!

Also let be clear many have stated this is actually uncharted waters for an Election year, so as you attempt to use the deaths of thousands and China failure and them also crashing the market to believe this is a win for Democrats, well we will see but let be clear many Americans might just disagree with your asinine comparison seeing they have nothing in common except a Republican is President...

Remember Democrats controlled the Senate and House in 2008, so ummm let see the only thing the Republicans controlled then was the Oval Office.

Oh, before you scream " liar ", Nancy Pelosi was Speaker of the House in 2008 and Harry Reid was Senate Majority Leader and they took their positions in 2007, so remember that when selling your bullshit!

 

[Faun]

In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?

https://www.washingtonpost.com/opinions/2020/04/02/another-gop-president-another-recession/

The short answer? No.

Democrats controlled congress in 2008, and the table was set by the Clinton admin. Course you didn't know that. But I know you. You're trolling, only a troll would suggest this is on Trump. That said, I tend to underestimate dumb.

The real estate bubble was handed to the 2008 Congress by previous sessions of Congress.

 

[Faun]

In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?

https://www.washingtonpost.com/opinions/2020/04/02/another-gop-president-another-recession/

The short answer? No.

Hold on!

You are equating the 2008 Recession to what is going on now?

First off a Virus that originated in China that spread World Wide because the Chinese Government did not contain it is what threw our country into this Recession or better yet Depression we are facing!

Also let be clear many have stated this is actually uncharted waters for an Election year, so as you attempt to use the deaths of thousands and China failure and them also crashing the market to believe this is a win for Democrats, well we will see but let be clear many Americans might just disagree with your asinine comparison seeing they have nothing in common except a Republican is President...

Remember Democrats controlled the Senate and House in 2008, so ummm let see the only thing the Republicans controlled then was the Oval Office.

Oh, before you scream " liar ", Nancy Pelosi was Speaker of the House in 2008 and Harry Reid was Senate Majority Leader and they took their positions in 2007, so remember that when selling your bullshit!

By 2007, the collapse of the economy had already begun. By 2005, house prices began falling. 2006 saw a record number of foreclosures. By early 2007, the second largest lender filed bankruptcy.

 

[Faun]

To bad Obama couldn't build a sustainable economy that could withstand a pandemic. Looks like President Trump will have to fix that also.

Regrettably, Obama's streak of employment growth which began 10 years ago, just ended.

Bureau of Labor Statistics Data

data.bls.gov

 

[Fang]

To bad Obama couldn't build a sustainable economy that could withstand a pandemic. Looks like President Trump will have to fix that also.

Regrettably, Obama's streak of employment growth which began 10 years ago, just ended.

Bureau of Labor Statistics Data

data.bls.gov

I'm sure the world pandemic, social distancing and all around shutdown orders have nothing to do with that. Are Democrats permanently stuck on stupid?

 

[Arresmillao]

WITH THE TRUMP CRASH, 10 OF THE LAST 11 RECESSIONS, DATING BACK TO THE 1950S ALL OCCURED UNDER GOP PRESIDENTS...

EVERY GOP PRES SINCE TEDDY R HAS HAD A RECESSION.

3 CERTAINTIES, LIFE, DEATH, AND GOP RECESSIONS... THE PARTY OF TOTAL FAILURE.

9 of the last 10 US recessions began with a GOP President. Why would anyone trust a Republican with the economy again?

House Minority Leader Kevin McCarthy is not a fan of history, apparently.

www.alternet.org

So, as it turns out, the Progressives are the true fiscally responsibles. Biden will take us back to calm waters, like he did in 2009...

 

[Dana7360]

In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?

https://www.washingtonpost.com/opinions/2020/04/02/another-gop-president-another-recession/

The short answer? No.

The economic history of our nation is filled with so many conservatives/republicans destroying our economy and democrats/liberals/moderates cleaning the mess up.

I don't understand why people keep voting for republicans/conservatives. They have such a long history of total failure that harms our nation and people.