Here We Go Again;Democrats & Media Soon To Blame GOP For Economic Downturn Of 2011

[Rozman]

That's basically because it is the fault of the GOP.

How much more time and money will the Big 0 need to spend before it's his problem?

What has he done that has worked and please demonstrate with the positive effects actually shown in the economic growth, job growth, industrial expansion and growing exports.

How many jobs have his policies retrieved from China?

How much has the federal tax revenue increased?

How much have the new business starts increased?












These are not fleeting promises. These are measurables and the most powerful in the world has done everything he can think of and nothing is working.

Is it possible he's doing the wrong things?

There are limits to the power of a president.

Economies have never been and never will be run by a president under a system such as our founders designed.

Now that being said it is much easier for a president to distroy an economy than to instantly turn it on a dime.

Tell me how long the average recession lasts?

Tell me how this country has gotten worse than what Bush left Obama?

There are limits to the power of a president.

Of course that only applies to the chosen one "The Obama"

When It's Bush....then he controlled everything and is the only one responsible....

The Libs.ya gotta love their way of thinking....

 

[code1211]

So, is this thread a tacit confession that all the conservatives around here who tried to blame the recession that began in 2007 on the 2006 election of the Democratic congress,

all those 'nuts were/are full of shit??

Most of the referances to that little tid bit that i've read around here were in response to some raving LIB saying that it was Bush's fault. The reply indicating that all was pretty good until the Dems stepped in and tried to "fix" things.

The mess this country is in was Bush and the republicans fault.

Those are the facts and denying them is hyper partisanship.

It's pretty widely accepted that the mess is the result of the financial melt down which was the result of the federal policies on housing, credit and home loans that have been in effect and getting refined since the 70's.

During that time, both parties have been in power in both houses of Congress and in the White House. Pinning the mess today on either party is difficult.

Following the melt down, Bush established TARP which was aimed at stablizing the Financial Sector. He spent half of it and left the other half for the Big 0. The Big 0 spent his 350 billion of TARP to buy the votes of the UAW, he spent the 780 billion or so of stimulus to buy the votes of the public sector union employees and has printed about 3 trillion dollars of debt because he has no testicles for the tough decisions of governing during a downturn.

He has also condemned the nation to a spiraling downward stall from flight with his healthcare debacle.

Bush was no gem and that's a fact. His missteps were hurtful, but not fatal. The Big 0 is purposefully trying with every move to kill us. It is terrifying for those who have the eyes to see.

If the Big 0 is so stupid that he does not realize what he's doing or so malevolent that he is intentionally doing it, it really makes no difference as he continues to do it.

 

[EdSchultzIsFat]

I am still waiting for the left to tell us the truth that it was Housing and easy credit that caused the recession. And what about all those millions of Americans who worked hard for 2-4 years to save up for a new home,??? and a few years later the Democrats were giving mortgages away to anyone living,breathing and making at least 20,000 a year?

 

[edthecynic]

I am still waiting for the left to tell us the truth that it was Housing and easy credit that caused the recession. And what about all those millions of Americans who worked hard for 2-4 years to save up for a new home,??? and a few years later the Democrats were giving mortgages away to anyone living,breathing and making at least 20,000 a year?

I'm still waiting for CON$ to stop calling the lying BushWhacker a Democrat!

It was Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) that changed the rules to allow no downpayment loans for more than the house was worth to people with bad credit who could not keep up with the payments and who were at least 20% below the standard of living for the neighborhood they were buying into.

The ADDI was passed in Dec 2003 and everything in housing started to go bad in 2004. Even your MessiahRushie admits 2004 was the turning point for the Bush Housing Crash.

July 7,2010
BREAK TRANSCRIPT

RUSH: To illustrate my point even further: "Subprime mortgages accounted for 9 percent of all mortgage originations from 1996 through 2004." But that 9% became 21% from 2004 to 2006, 21% of all mortgages were subprime. Twenty-one percent of all mortgages were essentially money given away to people because they were loans made to people that everybody knew going in would never pay them back. And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, which was at the time one-fifth of the US home loan market.

 

[NYcarbineer]

Why is it ever ytime a Dem talks about the economy its always "the worst since the FDR Depression?"

Frank has been the loudest voice in blaming the 2007 recession on the Democrats winning the House in 2006...

...so if Frank was right, and not full of shit, then it should be a good argument to blame any 2011 downturn in the economy on that 'historic GOP landslide' in 2010.

What policies of the Republicans have been passed to create and change of any type?

The GOP got Obama to go along with their 800 billion dollar budget busting tax bill in December.

Remember? The one that HAD to pass so businesses could get over their 'uncertainty' and starting creating jobs?

 

[asterism]

Do you mean like your MessiahRushie blaming the Bush stock market crash five months before Obama took office on Obama??

March 2, 2009
RUSH: Well, here's some truth for you. President Obama campaigned for two years. His policies were announced that long ago. He won the Democrat nomination last August, six months ago.

RUSH: So the economy stopped. The stock market started tanking.

RUSH: To say that Obama has been in office only one month is not accurate from an effect on the world and an effect on the country standpoint. Barack Obama has been the controlling political authority on the economy for six months.

I don't think Rush is correct that Obama alone caused investors to pull money out but I think a Democratic Congress in 2007 combined with either a McCain Presidency or an Obama Presidency did signal more unsustainable government overspending and that caused investors to cash out.

Except the stock market started crashing in October 2007, long before either Obama or McCain had secured their nominations!

That is simply not true:

http://finance.yahoo.com/echarts?s=^GSPC+Interactive#chart2:symbol=^gspc;range=5y;compare=^dji+^ixic;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

 

[asterism]

I don't think Rush is correct that Obama alone caused investors to pull money out but I think a Democratic Congress in 2007 combined with either a McCain Presidency or an Obama Presidency did signal more unsustainable government overspending and that caused investors to cash out.

Neither is correct.

In 2006, we had perhaps the biggest asset bubble of all time. Blaming Obama and the Democrats for the Housing collapse is as ridiculous as blaming Bush and the Republicans for the Tech Bubble collapse in 2001 and 2002.

But political people with little understanding of economic and financial history like to ascribe why their side made the country rich and the other side creates poverty.

The tech bubble collapsed in 2000.

http://finance.yahoo.com/echarts?s=^GSPC+Interactive#chart3:symbol=^gspc;range=19990401,20110624;compare=^dji+^ixic;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on

 

[asterism]

That's basically because it is the fault of the GOP.

How much more time and money will the Big 0 need to spend before it's his problem?

What has he done that has worked and please demonstrate with the positive effects actually shown in the economic growth, job growth, industrial expansion and growing exports.

How many jobs have his policies retrieved from China?

How much has the federal tax revenue increased?

How much have the new business starts increased?

These are not fleeting promises. These are measurables and the most powerful in the world has done everything he can think of and nothing is working.

Is it possible he's doing the wrong things?

There are limits to the power of a president.

Economies have never been and never will be run by a president under a system such as our founders designed.

Now that being said it is much easier for a president to distroy an economy than to instantly turn it on a dime.

Tell me how long the average recession lasts?

Tell me how this country has gotten worse than what Bush left Obama?

 

[edthecynic]

I don't think Rush is correct that Obama alone caused investors to pull money out but I think a Democratic Congress in 2007 combined with either a McCain Presidency or an Obama Presidency did signal more unsustainable government overspending and that caused investors to cash out.

Except the stock market started crashing in October 2007, long before either Obama or McCain had secured their nominations!

That is simply not true:

http://finance.yahoo.com/echarts?s=^GSPC+Interactive#chart2:symbol=^gspc;range=5y;compare=^dji+^ixic;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

The Dow peaked October 10, 2007 and went DOWN from there. By January 2008 it lost over 7%, by June 2008 -13%, by election day -15% and it bottomed in March of 2009 at -18%.

 

[tigerbob]

It's already started! The Dem's are already finding ways to blame the GOP for blocking every effort to pump up private sector jobs. Especially after more bad economic news today. When you consider how desperately the GOP has been trying to repeal the "Obama Forced Health-Care" plan and easing up regulations on small business, it's so obvious the Liberals are just continuing their lies. We're not buying it! Go ahead PMS-NBC,CBS and CNN, try to convince to 200 Million pissed off Americans that "It's All Bush's and/or the GOP's Fault".

Examples? Links?

I can't provide either, but I know I've seen clips of both Reid and Durbin saying exactly this.

I don't doubt it, but it's always nice to see a contention supported.

 

[code1211]

That's basically because it is the fault of the GOP.

How much more time and money will the Big 0 need to spend before it's his problem?

What has he done that has worked and please demonstrate with the positive effects actually shown in the economic growth, job growth, industrial expansion and growing exports.

How many jobs have his policies retrieved from China?

How much has the federal tax revenue increased?

How much have the new business starts increased?

These are not fleeting promises. These are measurables and the most powerful in the world has done everything he can think of and nothing is working.

Is it possible he's doing the wrong things?

There are limits to the power of a president.

Economies have never been and never will be run by a president under a system such as our founders designed.

Now that being said it is much easier for a president to distroy an economy than to instantly turn it on a dime.

Tell me how long the average recession lasts?

Tell me how this country has gotten worse than what Bush left Obama?

Since the Great Depression, the average recession is 10 months. This one is still going since about August of 2008. Right now, we are just shy of 3 years.

What Bush left Obama was a time of critical problem, not a prolonged recession. The recession started in August 2008. If the Big 0, Nancy and Harry had done nothing, and I mean nothing, we would have come out of it about 10 months later. This is exactly what they were counting happening and then claiming credit for it having happened.

Sadly, the Big 0 has unleashed the EPA to terrorize every business in the USA. He has directed the NLRB to bring suit against employers trying to establish expansions of their businesses, he has shut down the ability of American companies to drill for Oil while subsidizing the efforts of foreign companies to do the same thing.

He has stopped the consideration of trade agreements, conducted a schitzophrenic tax policy, opposed any effort to reduce spending at the Federal Level, expanded the deficit beyond what anyone could have predicted even in the most crazy projections and refuses to even consider methods to draw it down.

Obamacare is a growing monstrosity that is crippling the ability of business to plan and is letting the Feds create winners and losers through the targeted application of waivers from the enforcement of what will become about 80,000 pages of new regulations that will allow the Federal Government to control any business through the threat of fines and penalties that have not yet been made public.

The combination of the "Ecomic Easing and the QE2", the Stimulus and the unrestrained spending has bankrupted the country and we now have no levers to pull because the Big 0 has squandered the resources to help. He's like a drunken gambler who spent the rent money and now claims he needs more for his family. The cupborad's empty now. We're screwed.

This has resulted in an additional 15 million unemployed, a shrinking tax base and a general lack of hope in the population which is now saying by huge majorities that we are on the wrong track.

In a nut shell, that's pretty much how the country has gotten worse than what Bush left Obama. Oh, and all of the wars plus 1 are still going, Gitmo is still open, the Bush Tax Cuts are now the Obama Tax Cuts and we are hated and reviled around the world which knows we cannot stop anyone from doing anything because we are broke.

"The country divides into two groups: Those who remember how the Carter years felt and those who are finding out."

 

[tigerbob]

So, is this thread a tacit confession that all the conservatives around here who tried to blame the recession that began in 2007 on the 2006 election of the Democratic congress,

all those 'nuts were/are full of shit??

Most of the referances to that little tid bit that i've read around here were in response to some raving LIB saying that it was Bush's fault. The reply indicating that all was pretty good until the Dems stepped in and tried to "fix" things.

The mess this country is in was Bush and the republicans fault.

Those are the facts and denying them is hyper partisanship.

Finally, the debate is settled. Thank God. The possibility that there was middle ground between two polar opposites was very inconvenient.

USMB can now officially close. The last one to leave please turn off the lights.

 

[EdSchultzIsFat]

I am aware that Bush took part in helping middle income Amerians purchase homes, but why did these middle income adults buy $250,000 homes that they couldn't afford in the first place? why couldnt they buy a home for $150,000? Did they just assume that their income was gonna double in two years? The real estate market never should of jacked up the prices of homes so fast!!!!

 

[asterism]

Except the stock market started crashing in October 2007, long before either Obama or McCain had secured their nominations!

That is simply not true:

http://finance.yahoo.com/echarts?s=^GSPC+Interactive#chart2:symbol=^gspc;range=5y;compare=^dji+^ixic;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

The Dow peaked October 10, 2007 and went DOWN from there. By January 2008 it lost over 7%, by June 2008 -13%, by election day -15% and it bottomed in March of 2009 at -18%.

A 7% decline is hardly a "crash." On October 1, 2008 the Dow was at 10,831. It was at 8451 just over a week later, a 22% loss in just over a week. March 9, 2009 was the bottom, 6547 a 53% loss.

 

[edthecynic]

I am still waiting for the left to tell us the truth that it was Housing and easy credit that caused the recession. And what about all those millions of Americans who worked hard for 2-4 years to save up for a new home,??? and a few years later the Democrats were giving mortgages away to anyone living,breathing and making at least 20,000 a year?

I'm still waiting for CON$ to stop calling the lying BushWhacker a Democrat!

It was Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) that changed the rules to allow no downpayment loans for more than the house was worth to people with bad credit who could not keep up with the payments and who were at least 20% below the standard of living for the neighborhood they were buying into.

The ADDI was passed in Dec 2003 and everything in housing started to go bad in 2004. Even your MessiahRushie admits 2004 was the turning point for the Bush Housing Crash.

July 7,2010
BREAK TRANSCRIPT

RUSH: To illustrate my point even further: "Subprime mortgages accounted for 9 percent of all mortgage originations from 1996 through 2004." But that 9% became 21% from 2004 to 2006, 21% of all mortgages were subprime. Twenty-one percent of all mortgages were essentially money given away to people because they were loans made to people that everybody knew going in would never pay them back. And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, which was at the time one-fifth of the US home loan market.

I am aware that Bush took part in helping middle income Amerians purchase homes, but why did these middle income adults buy $250,000 homes that they couldn't afford in the first place? why couldnt they buy a home for $150,000? Did they just assume that their income was gonna double in two years? The real estate market never should of jacked up the prices of homes so fast!!!!

They bought houses they couldn't afford because in order to get the Bush ADDI money they had to be earning at least 20% less than the average income of the neighborhood they were buying into.

Bush owns the housing market crash.

American Dream Downpayment Initiative - Affordable Housing - CPD - HUD

Eligible Customers

To be eligible for ADDI assistance, individuals must be first-time homebuyers interested in purchasing single family housing. A first-time homebuyer is defined as an individual and his or her spouse who have not owned a home during the three-year period prior to the purchase of a home with ADDI assistance. ADDI funds may be used to purchase one- to four- family housing, condominium unit, cooperative unit, or manufactured housing. Additionally, individuals who qualify for ADDI assistance must have incomes not exceeding 80% of area median income.

 

[uscitizen]

I just can't wait for the 2012 State Of The Union address when Obama will "For The Third" time in Three years,,,THE WORST IS OVER !!!,,I think that only his gerbil and hamster friends will believe it.

Reminds me of the six more months we kept hearing during the Bush admin. Both on Iraq and the economy.

 

[EdSchultzIsFat]

I am still waiting for the left to tell us the truth that it was Housing and easy credit that caused the recession. And what about all those millions of Americans who worked hard for 2-4 years to save up for a new home,??? and a few years later the Democrats were giving mortgages away to anyone living,breathing and making at least 20,000 a year?

I'm still waiting for CON$ to stop calling the lying BushWhacker a Democrat!

It was Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) that changed the rules to allow no downpayment loans for more than the house was worth to people with bad credit who could not keep up with the payments and who were at least 20% below the standard of living for the neighborhood they were buying into.

The ADDI was passed in Dec 2003 and everything in housing started to go bad in 2004. Even your MessiahRushie admits 2004 was the turning point for the Bush Housing Crash.

July 7,2010
BREAK TRANSCRIPT

RUSH: To illustrate my point even further: "Subprime mortgages accounted for 9 percent of all mortgage originations from 1996 through 2004." But that 9% became 21% from 2004 to 2006, 21% of all mortgages were subprime. Twenty-one percent of all mortgages were essentially money given away to people because they were loans made to people that everybody knew going in would never pay them back. And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, which was at the time one-fifth of the US home loan market.

I am aware that Bush took part in helping middle income Amerians purchase homes, but why did these middle income adults buy $250,000 homes that they couldn't afford in the first place? why couldnt they buy a home for $150,000? Did they just assume that their income was gonna double in two years? The real estate market never should of jacked up the prices of homes so fast!!!!

They bought houses they couldn't afford because in order to get the Bush ADDI money they had to be earning at least 20% less than the average income of the neighborhood they were buying into.

Bush owns the housing market crash.

American Dream Downpayment Initiative - Affordable Housing - CPD - HUD

Eligible Customers

To be eligible for ADDI assistance, individuals must be first-time homebuyers interested in purchasing single family housing. A first-time homebuyer is defined as an individual and his or her spouse who have not owned a home during the three-year period prior to the purchase of a home with ADDI assistance. ADDI funds may be used to purchase one- to four- family housing, condominium unit, cooperative unit, or manufactured housing. Additionally, individuals who qualify for ADDI assistance must have incomes not exceeding 80% of area median income.

but why would any average american wanna have so much debt! I just can't fathom owing a six-digit figure between a home&credit cards. My father never owed more than $38,000 in his lifetime,now he's retired living on Hollywood Beach,Fla. I am 50, and the most I have ever owed was the 40,000 I borrowed to buy a nice condo in Boca Raton. This is what Im getting at, too many people borrowed way beyond their means, and look at what happened?

 

[uscitizen]

I'm still waiting for CON$ to stop calling the lying BushWhacker a Democrat!

It was Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) that changed the rules to allow no downpayment loans for more than the house was worth to people with bad credit who could not keep up with the payments and who were at least 20% below the standard of living for the neighborhood they were buying into.

The ADDI was passed in Dec 2003 and everything in housing started to go bad in 2004. Even your MessiahRushie admits 2004 was the turning point for the Bush Housing Crash.

July 7,2010
BREAK TRANSCRIPT

RUSH: To illustrate my point even further: "Subprime mortgages accounted for 9 percent of all mortgage originations from 1996 through 2004." But that 9% became 21% from 2004 to 2006, 21% of all mortgages were subprime. Twenty-one percent of all mortgages were essentially money given away to people because they were loans made to people that everybody knew going in would never pay them back. And that 21% of the mortgage market being subprime equaled about $600,000 billion in 2006, which was at the time one-fifth of the US home loan market.

I am aware that Bush took part in helping middle income Amerians purchase homes, but why did these middle income adults buy $250,000 homes that they couldn't afford in the first place? why couldnt they buy a home for $150,000? Did they just assume that their income was gonna double in two years? The real estate market never should of jacked up the prices of homes so fast!!!!

They bought houses they couldn't afford because in order to get the Bush ADDI money they had to be earning at least 20% less than the average income of the neighborhood they were buying into.

Bush owns the housing market crash.

American Dream Downpayment Initiative - Affordable Housing - CPD - HUD

Eligible Customers

To be eligible for ADDI assistance, individuals must be first-time homebuyers interested in purchasing single family housing. A first-time homebuyer is defined as an individual and his or her spouse who have not owned a home during the three-year period prior to the purchase of a home with ADDI assistance. ADDI funds may be used to purchase one- to four- family housing, condominium unit, cooperative unit, or manufactured housing. Additionally, individuals who qualify for ADDI assistance must have incomes not exceeding 80% of area median income.

but why would any average american wanna have so much debt! I just can't fathom owing a six-digit figure between a home&credit cards. My father never owed more than $38,000 in his lifetime,now he's retired living on Hollywood Beach,Fla. I am 50, and the most I have ever owed was the 40,000 I borrowed to buy a nice condo in Boca Raton. This is what Im getting at, too many people borrowed way beyond their means, and look at what happened?

People were programmed to think that posessions not money was the status symbol.

 

[EdSchultzIsFat]

what happened in the mid 2000's was a perfect example of "Greed Is The Root Of All People" it took a few million americans who wanted it all,,AND WANTED IT NOW to riun it for the rest!!!!

 

[EdSchultzIsFat]

and once they got into their 250,000 home, they started using up their equity for new cars/vacations/home depot,,,ect. when will they ever learn? and I have always tried so hard to keep a years supply on income in the bank. Most people don't.