Sun Devil 92
Diamond Member
- Apr 2, 2015
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- #21
1.....2......3.....
Wait for it.......
Here it comes.......
BOOOOOOOOOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSSHHHHHHHHHHHHHHHHHHHHHHH
Obamanomics Delivers....Poverty
- Thread starter The Rabbi
- Start date
1.....2......3.....
Wait for it.......
Here it comes.......
BOOOOOOOOOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSSHHHHHHHHHHHHHHHHHHHHHHH
His idea of economics is quite skewed as he takes million dollar vacations and Michelle and girls take multi-million dollar shopping sprees on the taxpayers' dime. But that's okay, it's just Monopoly money, and if we run out, they can simply print more. Every president has come out of office way, way wealthier than when they went in. I understand they don't do the job for free, but the level of wealth they leave office with completely overshadows their annual salary even if they never spent a nickel while they were in. Something's wrong with that picture.
francoHFW
Diamond Member
Not bloody likely, Pub dupe dingbat. see sig.Actually no, this is you making an ass of yourself.ACTUALLY, this is STILL Reaganomics, defended to the death by bought off Pubs and their fools like you...
Move on and take a hike.
francoHFW
Diamond Member
Nope. GOP duh.
Dad2three
Gold Member
December 2007
The Economic Consequences of Mr. Bush
The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup.
The Economic Consequences of Mr. Bush
No president in US history has ever been handed such a mess as Obama inherited from the disastrous Bush administration in which the economy was in absolute free fall, the GDP plunging 9% in just one quarter. That's equivalent to THREE years of robust growth literally wiped out in three months! US foreign policy was in a shambles, and 750,000 jobs were being lost each and every month.
Just go back to Sept. of 2008 to honestly admit that Obama & company have performed a veritable miracle; we are much better off today than we should have been able to expect we would be, when viewed from the bottom of that deep chasm 7 years ago.
The tragic thing is Republicans are pushing for even more deregulation and tax cuts when those are the things that got us into this mess in the first place.
Remember when the GOP claimed tax cuts would make the economy better?
Remember how George Bush senior called Regan's "Trickle Down" theory "voodoo economics"?
Where are they now? They, like the people who sold you survivor kits in 1999 and 2011, have all run off laughing, to the bank.
Dad2three
Gold Member
P. T. Barnum . . . The worst part about elephants is cleaning-up their messes
Dad2three
Gold Member
GOP IS to to blame. They dug the fiscal hole, they set up a tax policy that resulted in the enrichment of a few and the impoverishment of most. Their lessaiz-faire regulatory policies crashed the economy, they doubled the size of the war budget and engaged in foreign wars of choice. They despise the poor, the working man, and the civil servant. They place corporate interests above citizen interests.
The Economic Blue Screen of Death
OCT 2008
Work done by James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.
Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.
Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:
In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.
The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!
The Economic Blue Screen of Death
Do you remember 2001 when we had a budget surplus. Alan Greenspan testified before Congress in favor of the Bush tax cuts,"we are in danger of paying down the debt too fast". How absurd is that statement today! By the way, not a single GOP senator voted for the 93 reconciliation act that led to the balanced budget and eventual surplus.
We already know what economic policies work best for our country. Clinton knew that we had to cut spending and increase revenues. We had revenues of 20.6% of GDP and a surplus in 2000. Then something terrible happened, the Republicans gained complete control in 2001 and instead of sticking with what was working they decided that their ideology was more important. The debt has gone up $12+ trillion since then.
The Economic Blue Screen of Death
OCT 2008
Work done by James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.
Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.
Now let's look at the update that James Kennedy posted last week to his numbers. While he does not have an update to the chart above, we do have the actual numbers for new mortgage equity withdrawals through the second quarter of this year. And what they show is MEWs simply withering on the vine. The engine of our GDP growth has essentially been turned off. Look at the fall in the numbers for yourself:
In 2005 there was almost $595 billion in mortgage extractions that went into some kind of consumer spending. Remember, according to the graph above, that translated into a 3% rise in GDP. In 2007, MEWs were down to $470 billion, for a boost of 2% to GDP.
The second quarter of 2008 saw an anemic $9.5 billion. At that run rate, we could see a drop-off of over 90% from 2005! Now, think what the second quarter would have been without the federal stimulus program of $150 billion. It might have looked and felt like this quarter!
The Economic Blue Screen of Death
Do you remember 2001 when we had a budget surplus. Alan Greenspan testified before Congress in favor of the Bush tax cuts,"we are in danger of paying down the debt too fast". How absurd is that statement today! By the way, not a single GOP senator voted for the 93 reconciliation act that led to the balanced budget and eventual surplus.
We already know what economic policies work best for our country. Clinton knew that we had to cut spending and increase revenues. We had revenues of 20.6% of GDP and a surplus in 2000. Then something terrible happened, the Republicans gained complete control in 2001 and instead of sticking with what was working they decided that their ideology was more important. The debt has gone up $12+ trillion since then.
Dad2three
Gold Member
Dad2three
Gold Member
Weird the GOP claims Ronnie's responsible for the Clinton economy, the 16 year miracle, but Dubya, his policies stopped Jan 20th 2009 right? lol
jasonnfree
Gold Member
- May 23, 2012
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Republicans vowed to obstruct Obama since day one. So maybe blame the guys mentioned in the link below. Now, some almost, but not quite, intelligent right wingers on this message board know about this near treasonous meeting of repub politicians meeting with private citizens like gingrich and luntz. They vowed to, in effect, sabatoge Obama's presidency after bush left him with the biggest economic disaster since the republican depression of the thirties (that's what it was called back then). Still, said almost, but not quite, halfway intelligent right wingers such as the rabbi, can't seem to make the connection that if you block and stonewall everything the president does, then you're not going to have the booming economy we had before bushcheney ruined it.
The Conspiracy to Commit Legislative Constipation
The Conspiracy to Commit Legislative Constipation
jasonnfree
Gold Member
- May 23, 2012
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Weird the GOP claims Ronnie's responsible for the Clinton economy, the 16 year miracle, but Dubya, his policies stopped Jan 20th 2009 right? lol
Forgive them, for they were told that Reagan was a saint, and they believe it. Fox news wouldn't lie to them, right?
jasonnfree
Gold Member
- May 23, 2012
- 10,512
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If Obama is such a bad president, then wouldn't you want him on permanent vacation till he leaves the white house? You'll fit in good here with the other right wing whackos.
FA_Q2
Gold Member
Yes, it does.
That is what happens when you start 2 wars and try to tell the American people that they must not stop going to the mall otherwise the terrorists win. Somehow, though, I dont think the fact that Bush screwed the pooch alleviates the fact that Obama came in after and continued to screw things up.
Missouri_Mike
Diamond Member
- Nov 5, 2012
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He hasn't dealt at all you moron.
- Thread starter
- #35
You dont get it. Obama took a difficult situation and made it worse. That is the only honest reading of the data here. Obama's economic policies are failures.
- Thread starter
- #36
Household income was $42,200 in 2001.
It was $52,029 in 2008.
You are simply making shit up. You dont have a clue.
- Thread starter
- #37
Obama has not reduced Iran's nuclear capacity. Quit deflecting, asshole.Reducing irans nuclear capacity is totally horrible.. LOL.Of course that is your response. You're a blind fool.
LOL Obama created a disaster. Hopefully the nest guy will deal with it well.
- Thread starter
- #39
Except Obama had a filibuster proof majority for the first 2 years during the recession, plus his pen and his phone.
So that meme is shot.
Freewill
Platinum Member
- Oct 26, 2011
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