I'd appreciate it if you would stop lying about what I said. In stark contrast to the denial you falsely ascribe to me, I actually told you...
emphasis added
FACTS!
What President has the highest GDP increase?
Bush for 2 years
Then Clinton 5 years.
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First and foremost, I'm glad to see you hold Duhbya responsible for the Great Recession.
Your tacit confession aside, you're an idiot for referencing nominal figures when you should be using real figures .... you moronically attributed 10 years to Clinton when he was president for 8 years ... and you're dumb enough to think you made a point by showing Obama coming in last with 2009 figures which were actually weighed down heavily by Bush's Great Recession.
Good job.
See I'm an honest person and unlike most people like YOU I can admit I made a mistake and thank you for catching it!
I'm the better person though because I can admit a mistake so...
You are right!
I counted 10 years for Clinton!
So here is the correct number.
George W. Bush had the 1st, 2nd and 8th highest growth in GDP of the top 10.
Clinton had 3,4,5,6,9,10th highest again after Bush.
Bush 41 had the 7th highest.
Plus according to other people the recession didn't start until Obama took office!
Whether I'm "dumb" enough is debatable.
There is no DEBATE that Obama as President in 2009 had a 2% loss in GDP.
The highest in the 69 years since the GDP measure was started in 1947.
That is a FACT!
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If you were honest, you would use real figures.
Using nominal figures as you are doing puts Jimmy Carter ahead of all of the presidents you listed and places his 4 years among the top 6 slots.
See why you're so ignorant?
As far as GDP loss in 2009... that's entirely due to Bush's Great Recession, for which even you unwittingly credited him. But if blaming Obama for the economy he inherited makes you feel better, then more power to ya.
Hey... first let's put Carter's INFLATION RATE into play because THAT inflates the GDP artificially! The HIGHEST Inflation rate in history will INFLATE
the GDP as any intelligent person should acknowledge which I guess leaves you out!
Yes... I again being more honest then you do admit that the GDP loss was partially caused by the recession started through the housing bubble that was
begun under Clinton's Community Reinvestment Act CRA which allowed loans made to poor loan risks.
In a recent meeting with the Council on Foreign Relations, Barney Frank–the chair of the House Financial Services Committee and a longtime supporter of Fannie and Freddie–admitted that it had been a mistake to force homeownership on people who could not afford it.
Renting, he said, would have been preferable. Now he tells us.
Long-term pressure from Frank and his colleagues to expand home ownership connects government housing policies to both the housing bubble and the poor quality of the mortgages on which it is based. In 1992, Congress gave a new affordable housing “mission” to Fannie and Freddie, and authorized the Department of Housing and Urban Development to define its scope through regulations.
Shortly thereafter, Fannie Mae, under Chairman Jim Johnson, made its first “trillion-dollar commitment” to increase financing for affordable housing. What this meant for the quality of the mortgages that Fannie–and later Freddie–would buy has not become clear until now.
On a parallel track was the Community Reinvestment Act. New CRA regulations in 1995 required banks to demonstrate that they were making mortgage loans to underserved communities, which inevitably included borrowers whose credit standing did not qualify them for a conventional mortgage loan.
A Government-Mandated Housing Bubble
And even though Bush administration made warnings about the potential housing bust!
GWB's administration was LAUGHED AT BY Democrats Frank and Dodd after 17 times trying to get Fannie/Freddie fixed!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.
Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight: The Three Most Egregious Claims In The New York Times Article On The Housing Crisis
Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)
* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)
Barney Frank's Fannie and Freddie Muddle
Finally YOU are so dumb in that NOT one of your comments is supported with links to PROVE your statements.
People believe my posts more often because I am not making the statements but the experts that are provided in the links make them!
HINT you should spend more time researching then making subjective unproven comments.
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