Republican economic wisdom

[Ravi]

- “We don’t believe we’re going to have a recession though.” [Vice President Dick Cheney, 1/30/08]
- “I think the experts will tell you we’re not in a recession.” [President Bush, 2/10/08]
- “The answer is, I don’t think we are in a recession right now.” [Council of Economic Advisers Chairman Edward Lazear, 2/11/08]
– “First of all, we’re not in a recession.” [President Bush, 4/22/08]
– “The data are pretty clear that we are not in a recession.” [Council of Economic Advisers Chairman Edward Lazear, 5/7/08]
- “I don’t think we are” in a recession. [Director of the National Economic Council Keith Hennesy, 6/3/08]
– “I think we have avoided a recession.” [White House Budget Director Jim Nussle, 7/31/08]
– “I don’t think anybody could tell you right now if we’re in a recession or not” [Dana Perino, 10/7/08]


Think Progress » For Nearly A Year After Recession Started, Bush White House Insisted That ‘We’re Not In A Recession’

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[Andrew2382]

its almost as dumb as saying bush didn't inherit a recession from clinton...or clinton gave busha surplus

 

[michiganFats]

Both sides do this when they're in power. They want to avoid runs on the banks. Wait 12 months, and then we'll have a whole new batch of quotes to post.

 

[driveby]

- “We don’t believe we’re going to have a recession though.” [Vice President Dick Cheney, 1/30/08]
- “I think the experts will tell you we’re not in a recession.” [President Bush, 2/10/08]
- “The answer is, I don’t think we are in a recession right now.” [Council of Economic Advisers Chairman Edward Lazear, 2/11/08]
– “First of all, we’re not in a recession.” [President Bush, 4/22/08]
– “The data are pretty clear that we are not in a recession.” [Council of Economic Advisers Chairman Edward Lazear, 5/7/08]
- “I don’t think we are” in a recession. [Director of the National Economic Council Keith Hennesy, 6/3/08]
– “I think we have avoided a recession.” [White House Budget Director Jim Nussle, 7/31/08]
– “I don’t think anybody could tell you right now if we’re in a recession or not” [Dana Perino, 10/7/08]


Think Progress » For Nearly A Year After Recession Started, Bush White House Insisted That ‘We’re Not In A Recession’

​

If we don't get this stimulus bill passed, there will be a catosrophe ! - Barack Obama

 

[garyd]

So show me those two consecutive quarters of economic decline in 2008. And to bitch about the 1/30 date iLL NEED TWO FOR 2007 AS WELL.

 

[DiveCon]

So show me those two consecutive quarters of economic decline in 2008. And to bitch about the 1/30 date iLL NEED TWO FOR 2007 AS WELL.

Ravi is just using talking points from another leftwing nutjob site
shes not smart enough on her own to understand

 

[alan1]

So show me those two consecutive quarters of economic decline in 2008. And to bitch about the 1/30 date iLL NEED TWO FOR 2007 AS WELL.

Ravi is just using talking points from another leftwing nutjob site
shes not smart enough on her own to understand

Maybe when she grows up she'll learn the definition of recession.

 

[DiveCon]

So show me those two consecutive quarters of economic decline in 2008. And to bitch about the 1/30 date iLL NEED TWO FOR 2007 AS WELL.

Ravi is just using talking points from another leftwing nutjob site
shes not smart enough on her own to understand

Maybe when she grows up she'll learn the definition of recession.

maybe then she will learn not to use a site like "think progress" if she wants to be thought of as a thinking person

 

[Modbert]

you guys crack me up.

"OMGZ! We didn't have the two straight quarters of economic loss so it's not a recession! Mauahhahaaha"

Well jeez, while this country went to hell in a handbasket; you can tell me how everything was just roses and peaches.

 

[Modbert]

The United States-based National Bureau of Economic Research (NBER) defines economic recession as: "a significant decline in [the] economic activity spread across the country, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales."[5] The NBER's Business Cycle Dating Committee is generally seen as the authority for dating US recessions. Academic economists, policy makers, and businesses all usually refer to recessions as determined by the NBER.

I'm pretty sure we had just about all of that. So epic fail.

EDIT: Even more evidence to show epic fail.

http://www.findingdulcinea.com/news/business/2008/December/America-Officially-in-Recession.html

In December of 2008:

The National Bureau of Economic Research, a nongovernmental group of economists that studies market cyclicity, announced that the current economic slump has indeed been a recession—for going on a year.

 

[DiveCon]

The United States-based National Bureau of Economic Research (NBER) defines economic recession as: "a significant decline in [the] economic activity spread across the country, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales."[5] The NBER's Business Cycle Dating Committee is generally seen as the authority for dating US recessions. Academic economists, policy makers, and businesses all usually refer to recessions as determined by the NBER.

I'm pretty sure we had just about all of that. So epic fail.

EDIT: Even more evidence to show epic fail.

America Officially in Recession

In December of 2008:

The National Bureau of Economic Research, a nongovernmental group of economists that studies market cyclicity, announced that the current economic slump has indeed been a recession—for going on a year.

you just proved him right
LOL
since the previous 2 quarters were not in a ressession

 

[Modbert]

you just proved him right
LOL
since the previous 2 quarters were not in a ressession

It's obvious you can't read. Fuck, you can't even spell recession and you try to tell me you know economics better then me. Get a dictionary first.

We've had a recession for a YEAR. That's more then two quarters.

 

[DiveCon]

you just proved him right
LOL
since the previous 2 quarters were not in a ressession

It's obvious you can't read. Fuck, you can't even spell recession and you try to tell me you know economics better then me. Get a dictionary first.

We've had a recession for a YEAR. That's more then two quarters.

uh, not when it was said in dec of 2008 and the statement in question was jan 2008
are you REALLY wanting to show you are so stupid?


btw, attacking grammar and spelling again?
LOL
typical of an immature punk

 

[Modbert]

uh, not when it was said in dec of 2008 and the statement in question was jan 2008
are you REALLY wanting to show you are so stupid?


btw, attacking grammar and spelling again?
LOL
typical of an immature punk

Your obviously in your own little world debating something else.

And again, calling me a immature punk huh?

Is this you Dive?

 

[garyd]

The unemployment rate seasonally adjusted does not begin to climb noticeably until the latter third of of the second quarter of 2008 Bobby boy. Note all of these statement occur in the 1st quarter. Things don't even begin to slide until the end of the second.

We were not in a recession in the 1st quarter of 2008 when these statements were made so the worst you can do is charge them with having a broken crystal ball.

 

[Modbert]

The unemployment rate seasonally adjusted does not begin to climb noticeably until the latter third of of the second quarter of 2008 Bobby boy. Note all of these statement occur in the 1st quarter. Things don't even begin to slide until the end of the second.

We were not in a recession in the 1st quarter of 2008 when these statements were made so the worst you can do is charge them with having a broken crystal ball.

All of the ones above?

– “First of all, we’re not in a recession.” [President Bush, 4/22/08]
– “The data are pretty clear that we are not in a recession.” [Council of Economic Advisers Chairman Edward Lazear, 5/7/08]
- “I don’t think we are” in a recession. [Director of the National Economic Council Keith Hennesy, 6/3/08]
– “I think we have avoided a recession.” [White House Budget Director Jim Nussle, 7/31/08]
– “I don’t think anybody could tell you right now if we’re in a recession or not” [Dana Perino, 10/7/08]

The last one was made by Dana Perino less then two months after it was offically declared. So where are you getting that information from gary?

 

[editec]

Both sides do this when they're in power. They want to avoid runs on the banks. Wait 12 months, and then we'll have a whole new batch of quotes to post.

Word!

 

[editec]

Quibbling about the definitions of words will not solve the economics, folks.

Recession, depression economic downturn, call it what you will, things are getting mighty weird.

Or are those of you who are telling us that we are not in a recession trying to tell us the economy is not in trouble?

 

[jillian]

its almost as dumb as saying bush didn't inherit a recession from clinton...or clinton gave busha surplus

actually, what's absurd is saying Bush did inherit a recession:

The Clinton/Gore Administration: Largest Surplus in History on Track

President Clinton announces another record budget surplus - September 27, 2000

The right wing has spent eight years trying to revise history. They seem to have a really ugly habit of doing that.

 

[editec]

its almost as dumb as saying bush didn't inherit a recession from clinton...or clinton gave busha surplus

actually, what's absurd is saying Bush did inherit a recession:

The Clinton/Gore Administration: Largest Surplus in History on Track

President Clinton announces another record budget surplus - September 27, 2000

The right wing has spent eight years trying to revise history. They seem to have a really ugly habit of doing that.

That and playing word games so that they can frame the debate.

What's a SMALL BUSINESS?

The meaning of that phrase is designed to obfucate reality.