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How2 did any of those things listed lead to a recession?
Well when you live in a bubble, everything is great until that bubble bursts. We got to see the effect of what happens when the Bush Bubble bursts and it wasn't pretty for this country. I am not going to tell you how the recession happened because if you are unaware now, then you will never bother to know.
Well when you live in a bubble, everything is great until that bubble bursts. We got to see the effect of what happens when the Bush Bubble bursts and it wasn't pretty for this country. I am not going to tell you how the recession happened because if you are unaware now, then you will never bother to know.
Yeah the assertion that tax cuts CAUSED the revenue increase is tenuous at best. The fact is, all other things being equal, tax revenues will tend to rise no matter what - for the simple reason that as the U.S. grows so does the amount of economic activity because there are more people buying things.
Obama RAISED taxes by letting the Bush tax cuts expire - and revenue STILL went up.
The often-cited GOP contention that lowering taxes raises revenue and raising taxes lowers revenue just doesn't hold up when compared to the facts of what ACTUALLY HAPPENED.
Actually he has done a pretty good job in office fixing the mess Bush left without the help of the GOP. Though don't blame Obama or us for the right wingers putting up such a weak GOP candidate in 2012.
I wouldn't call placing a record number of people on the government assistance and increasing poverty a "good job". And let's not forget that the US lost its credit rating for the first time ever under Obama. Great job!
Well when you live in a bubble, everything is great until that bubble bursts. We got to see the effect of what happens when the Bush Bubble bursts and it wasn't pretty for this country. I am not going to tell you how the recession happened because if you are unaware now, then you will never bother to know.
Nice evasion of the question. Tax cuts do not lead to recessions. Even Lord Keynes could have told you that.
Reagan DID have a mess to clean up and it SHOWED in his economic numbers (and his poll numbers for that matter) - in that regard he and Obama have a great deal in common. I voted for Reagan TWICE and have fond memories of his years, but the fact is those "good years" for Reagan were really only the last year to year and a half of his 2nd term. His entire first term and more than half of the second featured an economy that SUCKED. His UE rate peak was higher than Obamas and didn't get down to a "decent" (ie under 6%) level until September of 1987 (until the last 16 months of his Presidency). In that regard Obama has done marginally better.
The truth is the LOWEST the UE rate got under Reagan (even his best months - ie the last few) is exactly what it's been under Obama during the last 2 months (June & July 2015). If the UE rate drops even 1 more tenth of a point (and that's almost certain to happen given the trend) Obama will have presided over a lower UE rate than Reagan EVER achieved.
Reagan is remembered fondly because he ended on a "high note" - and that makes all the difference in the world.
Same will be true of Obama.
Ken
Do you believe the current unemployment rate is 5.3%?
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