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Sorry, but which of Bush's policies caused the economic collapse? Please be specific. The collapse would have happened regardless of which party was in office.
The wholehearted belief in EMH and ignorance to the statistical fat tail in the equations built by quant traders caused the collapse. That stage has been set since the late 1960's. How exactly did Bush's policies contribute in the least?
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How exactly did Bush's policies contribute in the least?
Well since you asked:
No push for oversigtht or regulation of the collatorized debt obligation or credit default swap markets. In fact Bush 43 advocated "self-regulation" in thefinancial markets.
No regulation of the mortgage brokers.
The Bush 43 administration's public advocacy of an "Ownership Society" at the height of the housing bubble.
Obama had his college records sealed so nobody could examine them. Now he wants to have his records as President sealed until after the election.
With his poll numbers going back down, Obama has to have that sinking feeling. Just like Osama.
George Bush went down to Louisiana just to say " Hey , it wasn't me this time!"
Donald Trump announced he wouldn't run for President. He also just accepted a new 100 million dollar broadcasting deal from NBC.
Obama said he wasn't going to blow off the Tomb of the Unknown Soldier Memorial this year. Joe Biden will have to go golfing in his place.
The first quarter of 1983, the economy grew at an annualized rate of 5.1% followed by 9.3%, 8.1%, 8.5%, 8.0%, 7.1% and so on with positive growth for the balance of his presidency.
Reaganomics rocked!
Comparitevly speaking the Reagan two term record in terms year over year quarterly GDP growth wasn't as good as the Clinton administration or the Kennedy-Johnson administration.
Here are the average quartely GDP figures for every two term presidential administration for the past 58 years:
Johnson-Kennedy - 4.8625%
Clinton - 3.86875%
Reagan - 3.04375%
Eisenhower - 3.00625%
Nixon-Ford - 2.803125%
Bush 43 - 2.075%
Despite the Republcian Party claims that they know what's best for the economy, economic growth and the reduction in poverty has been far better under Democratic presidential administrations for almost 60 years than it has been under Republican presidents.
The economic recession and restructuring that started during the Bush Administration.
More meaningless babble with no facts and just the typical liberal rambling.
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Originally Posted by JazzyTallGuy
Well since you asked:
No push for oversigtht or regulation of the collatorized debt obligation or credit default swap markets. In fact Bush 43 advocated "self-regulation" in thefinancial markets.
No regulation of the mortgage brokers.
The Bush 43 administration's public advocacy of an "Ownership Society" at the height of the housing bubble.
Actually Bush tried OVER A DOZEN TIMES to regulate the mortgage industry.. Democrats stopped them EVERY SINGLE TIME.. They even had congressional hearings over it..
no, I'm waiting for you to cite something that says obama lost 9 million jobs, you said it now back it up with a citation.
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Originally Posted by Sunny-Days90
Are you saying he created jobs as he promised us then?
You know on record he has lost 5 million jobs. Google is your friend but I assume you will choose to ignore the facts.
Add another 4 million who have been displaced and cannot find a job or those who had to take huge pay cuts at another job to even feed their family.
Give me a link to the 5 million NEW high paying jobs he promised us.
Not only is the moron a job chopper and a food stamp loving dunce but he also has allowed record numbers of people to lose their homes due to foreclosure when he promised to help those people.
Everything he touches turns to crap.
Foreclosure help FAILED
Cash for Clunkers FAILED
Job Creation FAILED
Shovel Ready Jobs FAILED
Close Gitmo FAILED
End war in Iraq FAILED
New Energy ideas FAILED
Bring down prices of gas FAILED
New Wind and Solar jobs FAILED
Oil Spill cleanup FAILED
Oil spill report sent to his admin that problems were coming. Obama FAILED to handle it.
Closing the Mexican border to illegals FAILED
Obama is the failure in chief and the Food Stamp King.
Must I go on?
Even ONE SINGLE JOB loss is too many considering he promised us 5 million NEW high paying jobs and was handed 800 billion to do it.
I created 27 jobs with my business and did it for less then 100k. Why cannot he create a single job as he promised?
Typical liberal
Lose 5 million good jobs here and gain 50,000 burger flipping jobs there and it is a plus. Oh boy.
Just how long will it take for "trickle-down-economics" to kick in?
Maybe you're not aware, but Reagan oversaw the greatest expansion of revenues to the Treasury at that time.
Maybe you're not aware but Bush's tax cuts increased revenue as well and drove down the deficit between 2004-2007.
What have obama's policies done?
Record number of FS recipients.
Continued anemic GDP.
His anti-business rhetoric has soured the business climate...to HIS detriment.
Continued high UE rate.
No push for oversigtht or regulation of the collatorized debt obligation or credit default swap markets. In fact Bush 43 advocated "self-regulation" in thefinancial markets.
No regulation of the mortgage brokers.
The Bush 43 administration's public advocacy of an "Ownership Society" at the height of the housing bubble.
No. The 'ownership society' occurred because people bought houses they could not afford. It is not the government's responsibility to make sure people aren't doing stupid things. We need to deregulate, if anything, and let stupid people pay for their personal mistakes.
Maybe you're not aware, but Reagan oversaw the greatest expansion of revenues to the Treasury at that time.
Maybe you're not aware but Bush's tax cuts increased revenue as well and drove down the deficit between 2004-2007.
I could go on.
Reagan also raised taxes 11 times.
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, following that initial tax cut, Reagan actually ended up raising taxes - eleven times. That's according to former Republican Sen. Alan Simpson, a longtime Reagan friend who co-chaired President Obama's fiscal commission that last year offered a deficit reduction proposal.
and:
Quote:
continued to increase [spending] during his time in office. So did the debt, skyrocketing from $700 billion to $3 trillion.
Also, I couldn’t have asked for a better example of why it’s important to correct for inflation and population growth, both of which tend to make revenues grow regardless of tax policy.
Actually, federal revenues rose 80 percent in dollar terms from 1980 to 1988. And numbers like that (sometimes they play with the dates) are thrown around by Reagan hagiographers all the time.
But real revenues per capita grew only 19 percent over the same period — better than the likely Bush performance, but still nothing exciting. In fact, it’s less than revenue growth in the period 1972-1980 (24 percent) and much less than the amazing 41 percent gain from 1992 to 2000. So, when you say "Reagan oversaw the greatest expansion of revenues to the Treasury at that time" it's false.
Here’s what real federal revenue looked like from 1992 - 2008:
Rapid, steady growth in the Clinton years; much less thereafter, even if you stop the clock just before the housing bubble burst.
In short, the notion that tax cuts pay for themselves has no empirical support.
Let's look at the sstatement "drove down the deficit between 2004-2007:"
Bush started with a surplus in 2000 and immediately cut taxes. The CBO predicted that without the cuts the U.S. would have no debt by 2012.
Drove down the deficit? Compared to what? Before the Bush tax-cuts, there was four years of surpluses.
Last edited by MTAtech; 05-17-2011 at 02:52 PM..
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