Hello Double Dip!!!

[JustRalph]

http://www.msnbc.msn.com/id/43946055...s-us_business/

10 signs the double-dip recession has begun
Many Americans believe that the 2008-2009 downturn never ended

Friday's news on GDP shows the double dip has arrived — an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt ceiling trouble and lack of a longer term resolution to the deficit will make it worse.


more at the link

[PaceAdvantage]

All Bush's fault no doubt...

[Actor]

Originally Posted by PaceAdvantage

All Bush's fault no doubt...

Absolutely!

[PaceAdvantage]

Originally Posted by Actor

Absolutely!

You don't honestly believe this, do you? How can you?

Life is never that simple.

[Tom]

If I was living in New Orleans, I wopuld be looking out for Bush to release another hurricane....seems he getting spiteful in his retirement.

[mostpost]

Originally Posted by PaceAdvantage

All Bush's fault no doubt...

Not all Bush's fault, but mostly.
Problem #1: He cut taxes. Result; revenues down $34B the first year, an additional $138B the second year and $71B the third year. But of course lower taxes create jobs. Not exactly. During Bush's eight years about one million jobs were created. By comparison 23 million were created during Clinton's two terms.
During Clinton's two terms revenues grew at an average of 8.6% per annum. If we extrapolate through the next eight years and even cut the rate of growth in half or more the last five years we find total surpluses of $2.408T. Actual total deficits under Bush were $2.130T The difference? $4.610T. Near to enough to retire the debt.

Then we have the lack of regulation of the Banking industry which allowed in to create unsound financial instruments such as mortgage backed securities. The Gramm-Leach-Bliley bill was the primary bill in this endeavor, but even the slight protections it afforded were simply not enforced by Bush.

Bush talked a tough game about Fannie Mae and Freddie Mac, but never pushed any legislation in Congress. The legislation that was introduced was allowed to languish in committee despite the fact that Republicans had majorities in both Houses .

Republicans, starting with Ronald Reagan, continuing through GHW Bush and GW Bush worked feverishly to destroy unions. The result was minimal improvement in wages and working conditions. Lower pay and less jobs caused a decrease in tax contributions on top of the decrease caused by lower rates.

Nafta and similar opened the United States up to cheap goods and unfair competition. This was the major mistake of the Clinton Presidency, But Bush supported it and initiated tax breaks for US companies that moved operations overseas.

Add these all up and it is a damning indictment of George W. Bush. With a little helpfrom some misguided Democrats.

[JustRalph]

You are so predictable it's almost funny, if it weren't so sad

[LottaKash]

I say shove the graphs and Bush debates....and all the he did it shit.

The proof is in the groceries on my table....And, the lines of the unemployed keep getting longer....This is all I need to know, living proof..

Thank you Mr. President O, you have made the needed changes....I now pay more to get less....And, now there are fewer available jobs than ever, since the Big Depression that is......Change has come alright....

best,

[lamboguy]

Originally Posted by LottaKash

I say shove the graphs and Bush debates....and all the he did it shit.

The proof is in the groceries on my table....And, the lines of the unemployed keep getting longer....This is all I need to know, living proof..

Thank you Mr. President O, you have made the needed changes....I now pay more to get less....And, now there are fewer available jobs than ever, since the Big Depression that is......Change has come alright....

best,

not a bad way to look at things. i look at the price of gold because it can't fool you or lie to you. when bush got elected as president gold was $247 an ounce. he finished his 2 terms and gold went to $1200, a pretty decent jump. so far gold has gone up $400 since obama has been president, not a $1000 yet, but i do suspect that gold will go up during this admistration more than in the bush tenure. that will make obama a worse president than bush in my mind. and remember that obama is an underdog right now to get elected for a second term.

[LottaKash]

Originally Posted by mostpost

Add these all up and it is a damning indictment of George W. Bush. With a little helpfrom some misguided Democrats.

You forgot to mention the GREAT help from the Marxist himself, as he is carrying the torch now.....Your hero !

The rest of your mantra, is blah, blah, blah, and is getting so old......

You continually try to reconcile this new brand of "gangsterism" at it's worst ever, with the old Bush did it crap....Get real.

[Mike at A+]

Originally Posted by JustRalph

You are so predictable it's almost funny, if it weren't so sad

Of course he's predictable. As usual, it's all about bottom line and NO MENTION of 9/11 and its effect on the total economic picture during the early Bush years. And during the later Bush years, there's never any mention of the effect on the economy (unemployment in particular) of two Democrat controlled houses. At least Bush would TRY to fix the economy while Obama is doing his best to destroy it.

[Robert Goren]

Originally Posted by mostpost

The result was minimal improvement in wages and working conditions..

This great sin of the last 30 years. Until 1980 the average guy knew there was going to be ups and downs but in the long run things were going to better. The average guy on the street today is not much better off than he was under Carter. He got a some more TV channels and a computer, but that is about. It was not only the republicans who are to blame for this, but Clinton as well. Ike and JFK brought hope to the guy working for a wage. Reagan and his successors brought hope to his bosses.

[BlueShoe]

Originally Posted by PaceAdvantage

All Bush's fault no doubt...

One of the libs has already checked in "proving" it, another one should be along shortly "confirming" it by posting charts and graphs that only he can read. They never let go of this one do they? In the 2020 election expect them to still be at it and still blaming Bush.

[Robert Goren]

Originally Posted by Mike at A+

Of course he's predictable. As usual, it's all about bottom line and NO MENTION of 9/11 and its effect on the total economic picture during the early Bush years. And during the later Bush years, there's never any mention of the effect on the economy (unemployment in particular) of two Democrat controlled houses. At least Bush would TRY to fix the economy while Obama is doing his best to destroy it.

I will give this. Things stopped for a while after 9/11. Another big blow to early GWB presidency was the failure of America's Fourth largest company Enron. The really sad thing about the Enron failure was not its actual failure , but the blue print it provided to other companies on how to appear to makig money without really making anything. I have a feeling that blue print is going to be used for a long time. In the end GWB will not be remember for the Iraqi war, but his failure to put in place laws that will prevent future Enron and Lehmann Bros.

[Robert Goren]

Originally Posted by BlueShoe

One of the libs has already checked in "proving" it, another one should be along shortly "confirming" it by posting charts and graphs that only he can read. They never let go of this one do they? In the 2020 election expect them to still be at it and still blaming Bush.

And why not? The republicans blamed Jimmy Carter for 25 years.