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So you would contend that the President and HIS policies have more to do with the economy than Congress or the Fed? If so, I'm curious, perhaps you can explain to me, specifically what Obama has done. Not what he is taking credit for but what HE has specifically done. Perhaps you can explain to me "specifically" what Bush did to cause the downturn because I can think of many things that led to it that had nothing to do with Bush.
Tax increases for the rich effective 2013 for one to narrow our deficit. +1 obama
Bush caused the greatest calamity of the 21st century by starting a needless war in Iraq. -1 bush
I find it HILARIOUSLY that now that obama sits on one of the best job expansions our country has seen you want to attribute it to our obstructive congress. Spare me.
There is no such thing as a cyclical recession. Bad economies don't just happen. They happen for a reason and it is called government intervention in the free market.
The economy is still weak and we are still at war in the Middle East.
Are you serious?
1929 happened because of a total, unregulated free market approach. 2008 was the same thing on a smaller scale.
The federal debt to GDP ratio in January 1989 was 49.6%.
When Reagan took office, the federal debt to GDP ratio was 30.8%.
That is an increase of 18.8% in eight years with low unemployment and rising incomes.
When Obama took office, the federal debt to GDP ratio was 77.4%.
Today, the federal debt to GDP ratio is 100.5%.
That is an increase of 23.1% in seven years and all we have to show for it is a ****ty job market and lower median family incomes than when Obama took office.
Tax increases for the rich effective 2013 for one to narrow our deficit. +1 obama
Bush caused the greatest calamity of the 21st century by starting a needless war in Iraq. -1 bush
I find it HILARIOUSLY that now that obama sits on one of the best job expansions our country has seen you want to attribute it to our obstructive congress. Spare me.
To the extent our economy has improved due to government, it is 100% due to the obstructive Congress. When we had a Dem Congress in the last 2 years of Bush and first 2 years of Obama, we had the worst economy ever, since Republicans took over in Odummys 3rd year, the economy has continuously improved. I find it hilarious that you would try to attribute anything good to Obama.
People still believe that BS?! Didn't hindsight mean anything to you?
Reagan's years were financed by heavy debt?! It's a mirage. People like you are bitching that Obama's borrowing is too high, but Reagan ran it up to almost 200% (!!) MORE than Obama compared to the GDP.
And of course, it all came crashing down during the Bush Sr's term, who inherited Reagan's mess and didn't know how to fix it.
.
Reagan increased the debt to GDP ratio by 18.8% in eight years and gave us a great job market and rising incomes.
Obama increased the debt to GDP ratio by 23.1% in seven years and all we have to show for it is a ****ty job market and lower median family incomes than when he took office.
Rather poorly, largely due to congress being full of people whose #1 stated goal was to make him a "one term president", rather than something like -- oh i don't know -- doing something about stagnant wages?
Reagan increased the debt to GDP ratio by 18.8% in eight years and gave us a great job market and rising incomes.
Obama increased the debt to GDP ratio by 23.1% in seven years and all we have to show for it is a ****ty job market and lower median family incomes than when he took office.
How was Reagans economy good? His first two years were terrible, and his 5th and 6th year were nothing to boast about either. He can get a pass on 1981 but 1982 was 100% on him and millions of jobs were lost that year. Reagan also added 300,000 government jobs annually to the economy. The public sector has shrunk under Obama! Obama is on set to beat reagan on private sector job growth.
Reagan had high unemployment thoughout his presidency, all the while we had skyrocketing crime, and HIV epidemic, teen pregnancys through the roof.
We were young adults in the 60s and certainly the economy under Nixon was doing just fine. Property values went up, salaries were good and if you had a decent education or belonged to a union jobs were plentiful. Reagan, after he was in office long enough to clean up the Carter mess brought interest rates down and the economy overall was good. Not until the end of the Bush era did the unemployment rate start to go up, it got worse under Obama for several years, but regardless, let's always remember recessions have their hills and valleys, rarely can we blame all of it on a single administration.
Reagan era, my recollections: step-father, a skilled engineer employed all his life since serving in the Pacific War of 1941-1945, was laid off in his early 60's, never to find work again. I, taking out my first commercial mortgage in 1983, got an interest rate of 13.5 percent! It was an ARM and if I remember correctly, the rate stayed high throughout the '80's as the number of banks and S & L's that serviced the loan climbed towards a dozen; this was in the days of loan coupon books and it got messy!
We were lucky and hung on. A lot of people didn't. Union jobs were lost, along with the good pay and work rules that made those jobs suitable for raising a family. Beggars starting showing up on every street corner in suburban Texas; a new twist that made us look like Europe after WW II, and they've never left the scene.
Nowadays, low wage part time jobs, working on weekends and nights etc, has become the norm for many. A lot of that got its start under good old Raygun, who had a hard-on for unions, middle-class wages for blue collar jobs, and for working people in general.
I guess Reagan was good for some people, but I don't know any of them, personally.
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