Obamanomics Delivers....Poverty

[David_42]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

 

[The Rabbi]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

 

[Sun Devil 92]

WASHINGTON (Reuters) - American household incomes lost ground last year and the poverty rate ticked up, a sign the U.S. economic expansion had yet to lead to gains for many Americans five years after the 2007-2009 recession.

The data released by the U.S. Census Bureau on Wednesday, which showed the inflation-adjusted median income slipping to $53,657 last year from $54,462 in 2013, offered a reminder of the tepid nature of the economy's recovery.

"In 2014, real median household income was 6.5 percent lower

than in 2007, the year before the most recent recession," Census researchers wrote.

At the same time, the poverty rate ticked up to 14.8 percent from 14.5 percent in 2013, the data showed. Census researchers said the changes in both the median income and poverty rate were not statistically significant.

The Census Bureau also said the number of people in the United States without health insurance coverage fell to 33 million last year, or 10.4 percent of the population, from 41.8 million, or 13.3 percent, in 2013.

White House economists welcomed the sharp drop in the number of uninsured, which reflected the impact of President Barack Obama's signature healthcare law, and a steep decline in the child poverty rate.

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

And how long will the Obama disaster be with us.

I mean you guys whine about Reagan still....it's only been 30 years ago.....

 

[David_42]

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

The looney neocon actually believes bush had a good foreign policy. What a crock of shit.

 

[bedowin62]

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

The looney neocon actually believes bush had a good foreign policy. What a crock of shit.

the loony leftard cant admit the world is on fire under obama in places that have nothing to do with the Iraq War

give your boy another Nobel Peace Prize leftard!!!

 

[leftwinger]

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

10T? 786B TARP paid back during Obama yrs. GWB at ~9T.

DemWits (congress, Clinton policy) crashed housing. GWB did not save it 07-08: more Veto less compassion!

 

[David_42]

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

The looney neocon actually believes bush had a good foreign policy. What a crock of shit.

the loony leftard cant admit the world is on fire under obama in places that have nothing to do with the Iraq War

give your boy another Nobel Peace Prize leftard!!!

I'm not on my computer and don't want to leave a lengthy response.

 

[NYcarbineer]

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

The looney neocon actually believes bush had a good foreign policy. What a crock of shit.

the loony leftard cant admit the world is on fire under obama in places that have nothing to do with the Iraq War

give your boy another Nobel Peace Prize leftard!!!

Why are you so happy that Americans died for nothing in Iraq? That's sick.

 

[The Rabbi]

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

The looney neocon actually believes bush had a good foreign policy. What a crock of shit.

Inotice you cannot refute any of the facts posted, merely call names and assert.
The truth is Bush's foreign policy was far superior to Obama's.

 

[Freewill]

Household income was lower when Bush left office than it was the day he became President too. So does Bushanomics create poverty too, chief?

The poverty rate consistently increased under Bush. Under Obama it has been statistically steady during the past 4 years.

The claim of this thread title is absurd. That said, one would have hoped poverty would decline and it has not.

Poverty Rate U.S. Poverty rate 1990-2013 | Statistic
View attachment 50317

. 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


The Economic Blue Screen of Death

OCT 2008

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.


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.


Obamanomics Delivers....Poverty | Page 3 | US Message Board - Political Discussion Forum

WTF is your point? After 7 years of Obama taking responsibility for NOTHING you are going to blame Bush for the Clinton recession he inherited and TURNED AROUND without plunging your children into massive debt. Very unlike Obama. And your chart stops when the congress was taken over by the democrats who further ruined any recovery made. Their policies lead to the 2008 downturn.

 

[Freewill]

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

The looney neocon actually believes bush had a good foreign policy. What a crock of shit.

the loony leftard cant admit the world is on fire under obama in places that have nothing to do with the Iraq War

give your boy another Nobel Peace Prize leftard!!!

Why are you so happy that Americans died for nothing in Iraq? That's sick.

Why are you so happy being a lying ass and telling men who went they went for nothing? While you stayed home with mom. What is wrong with you people? Why do you hate so much?

 

[Freewill]

Household income was lower when Bush left office than it was the day he became President too. So does Bushanomics create poverty too, chief?

The poverty rate consistently increased under Bush. Under Obama it has been statistically steady during the past 4 years.

The claim of this thread title is absurd. That said, one would have hoped poverty would decline and it has not.

Poverty Rate U.S. Poverty rate 1990-2013 | Statistic
View attachment 50317

. 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


The Economic Blue Screen of Death

OCT 2008

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.


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.


Obamanomics Delivers....Poverty | Page 3 | US Message Board - Political Discussion Forum

what would you do if you had to think for yourself???

The answers to hypothetical questions are sometimes interesting.

 

[Dad2three]

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

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.

Look, I am no fan of Obama....

But that isn't true and everyone knows it.

I don't like the way Obamacare was passed....

But please try to keep things grounded in reality.

Which part isnt true? Democrats controlled COngress from 2007 until 2011. That is fact. Equally fact is that Obama himself or his regulators either delayed or changed many of the regulations pursuant to the laws passed in his first two years.
Please show where any of that is incorrect.

Dems controlled Congress 2007-2011? Oh except the 60 TOTAL days they had a super majority, you'd be correct..

You do know it takes 60 votes in the Senate to get ANYTHING passed today right?

 

[Dad2three]

Obama was handed a disaster, he has dealt well.

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

First thing you post is a lie. Shocking

National Debt Oct 1, 2009 $11,920,519,164,319.42


You know Obama's FIRST F/Y budget begins like EVERY other US Prez? Of course policies AND consequences Dubya left behind don't count either right? lol

 

[Dad2three]

Seven years on, and still decrying Bush.

Moron.

The Bush disaster will be with us for years to come

Forever, unless a Republican gets elected. Then every problem will have started the day of his inauguration and its all his fault.

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

10T? 786B TARP paid back during Obama yrs. GWB at ~9T.

DemWits (congress, Clinton policy) crashed housing. GWB did not save it 07-08: more Veto less compassion!

Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."


FACTS on Dubya's great recession | US Message Board - Political Discussion Forum

Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush’s President’s Working Group on Financial Markets October 2008

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”

 

[bedowin62]

Poverty reached a FIFTY YEAR HIGH UNDER OBAMA; and rose FASTER UNDER OBAMA than it had under Bush. so did income inequality

a million charts and serial-posting talking points cant save you idiot Dad2three

all you losers have is to cry like babies about how A SMALLER NUMBER OF people you INSIST you're sooooo much smarter than stole your lunch money and foiled your best-laid plans of your big Progressive brains

idiots and hypocrites

 

[Dad2three]

Household income was lower when Bush left office than it was the day he became President too. So does Bushanomics create poverty too, chief?

The poverty rate consistently increased under Bush. Under Obama it has been statistically steady during the past 4 years.

The claim of this thread title is absurd. That said, one would have hoped poverty would decline and it has not.

Poverty Rate U.S. Poverty rate 1990-2013 | Statistic
View attachment 50317

. 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


The Economic Blue Screen of Death

OCT 2008

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.


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.


Obamanomics Delivers....Poverty | Page 3 | US Message Board - Political Discussion Forum

WTF is your point? After 7 years of Obama taking responsibility for NOTHING you are going to blame Bush for the Clinton recession he inherited and TURNED AROUND without plunging your children into massive debt. Very unlike Obama. And your chart stops when the congress was taken over by the democrats who further ruined any recovery made. Their policies lead to the 2008 downturn.

Got a bill the Dems passed 2007-Jan 2009 that changed Dubya policies Bubba?

Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."

Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)

Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals (2004)
Lowering Investment banks capital requirements, Net Capital rule (2004)
Reversing the Clinton rule that restricted GSEs purchases of subprime loans (2004)
Lowering down payment requirements to 0% (2003)
Forcing GSEs to spend an additional 440 billion in the secondary markets (2004)
Giving away 40,000 free down payments PER YEAR 2004-2007
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING (2003)


But the biggest policy was regulators not enforcing lending standards.



FACTS on Dubya's great recession | US Message Board - Political Discussion Forum

 

[Dad2three]

Nope, not at all, bush left us with massive amounts of debt, a destabilized middle easy, a failed war, tax cuts for the rich.. Reagan wasn't as bad.

Hmm.
Debt when Bush left office: $10T
Debt today under Obama: $18T

Middle East when Bush left office:
Iraq-Stable, 2 free elections held
Libya-Stable, under control of Ghaddafi, who had been disarmed of WMD
Egypt-Stable, under control of Mubarak
Syria-Stable. under control of Assad
Iran-stable, under control of mullahs
Yemen-stable, under control of Pres.Saleh
Israel-Stable. Under control of elected PM Netanyahu. Palestinian mostly quiet

Middle East under Obama:
Iraq: torn, president replaced with US puppet, half of country under ISIS control
Libya: torn
Egypt: stable after coup deposed Obama-supported Muslim Brotherhood candidate
Syria: war torn, half of country under ISIS control
Iran-emerging nuclear power with proxy wars in Yemen etc
Yemen; torn. Al qaeda, Houthis, others fighting for control
Israel-stable but embattled internationally, seeking additonal allies among Russia and China and Saudi Arabia.

Yeah that's quite a disaster your boy has propounded there, Einstein. More policy like that and we'll see renewed terrorist attacks here.

The looney neocon actually believes bush had a good foreign policy. What a crock of shit.

the loony leftard cant admit the world is on fire under obama in places that have nothing to do with the Iraq War

give your boy another Nobel Peace Prize leftard!!!

Why are you so happy that Americans died for nothing in Iraq? That's sick.

Why are you so happy being a lying ass and telling men who went they went for nothing? While you stayed home with mom. What is wrong with you people? Why do you hate so much?

They went to become the meat for Dubya/Cheney meat grinder dumbass!

 

[bedowin62]

charts cant save you dummy

the richest got richer and the poorest got poorer; both at a FASTER PACE UNDER PROGRESSVIES THAN UNDER BUSH

idiots and hypocrites

 

[bedowin62]

HYSTERICAL!1

look how the desperate loon quickly tries to erase REALITY by serial spamming!!