Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Dubya's big failure was due to tax cuts/trickle-down/deregulation. The GOP economic "model" is bogus. Now they want to do it all over again. On steroids.
Folks know this and are already cutting back on spending.
Stock market will have some sort of "correction" before long and we'll all wake up to find our mutual funds and retirement accounts are worth a lot less.
And the longest run of economic and job growth will fizzle out as the steady roll of automation continues to eliminate decent-paying factory jobs while Trump crows about fake accomplishments.
Don't need a crystal ball, just a good memory and the ability to think.
Last edited by GotHereQuickAsICould; 04-30-2017 at 06:34 AM..
Barack Obama is the only president in US history to never have a year of economic growth over 3.0% (despite adding almost $10 trillion to the national debt).
How did he manage to fail so badly?
Obama did his best to suffocate the US economy. A poor economy was the prerequisite to installing a socialist system with the government in charge of every aspect of society.
Obama liked to spend in lumps of 500 million dollars. From solyndra to 'traing' iraqi foreing troops where 500 mil bought us 4 soldiers. It seemed more of a pattern of money laundering schemes.
He promised skyrocketing energy costs under his plan.
His energy czar desired to raise US gas prices to the level of EU.
His endorsement of federal regulations had its boot on the neck of the economy.
Weaponized federal agencies raided businesses like Gibson guitar in an attempt to intimidate other businesses.
supressed fossil fuel industry with no viable replacement.
screwed GM shareholders in favor of the unions.
Obama required banks that did not need bailouts to take bailout money.
Obama hired a tax cheat from goldman sachs to head the treasury. If trump tried that schummer and warren and the entire media would be in the emergency room with apoplectic hysteria.
It's funny to watch so many libs on here complain about Trump's ties to Wall St yet NEVER complained about Obama's.
I didnt even vote for Obama. Your defense of the authoritarian crony capitalist in bed with Goldman Sachs (after blasting Ted Cruz and Hillary for their own ties to Goldman Sachs) is ridiculous. Just admit that he isnt serving you, but Wall Street.
I didnt even vote for Obama. Your defense of the authoritarian crony capitalist in bed with Goldman Sachs (after blasting Ted Cruz and Hillary for their own ties to Goldman Sachs) is ridiculous. Just admit that he isnt serving you, but Wall Street.
They're too invested in being right to ever admit they were wrong. VERY few of them are using critical thinking, for them its about hatred of the left because of who they think the left is. Its not even real.
Obama printed over 4 trillion dollars, kind of hard to screw up when you can do that ..... (and leaving us in 20 trillion in debt)
No, two wars, massive tax breaks for the ruling donor class and deregulation/crash on Wall Street caused that debt. And now we are at it again with those three favorite recipes to crush the 99% pushed hard by the GOP.
Barack Obama is the only president in US history to never have a year of economic growth over 3.0% (despite adding almost $10 trillion to the national debt).
How did he manage to fail so badly?
the dow tripled under his watch so some folks saw plenty of growth on his watch
he must have been the lousiest socialist in history to manage that
Barack Obama is the only president in US history to never have a year of economic growth over 3.0% (despite adding almost $10 trillion to the national debt).
How did he manage to fail so badly?
NO, he was trying to crush a colonialist country he sees as unfair to the world. He is far more loyal to the UN than the US.
Quote:
Originally Posted by irish_bob
the dow tripled under his watch so some folks saw plenty of growth on his watch
he must have been the lousiest socialist in history to manage that
He injected trillions of USD into Wall St and the banks, while holding interest rates to 0. Who do you think owns that credit card?
Things aren't always as they appear, and he is a master of deception.
"Dubya's big failure was due to tax cuts/trickle-down/deregulation."
Ah, the ignorant (lack of knowledge) claims.
" Publication: Business Wire
Date: Friday, January 4 2008
More Than 8.3 Million Jobs Created Since August 2003 In Longest Continuous Run Of Job Growth On Record
WASHINGTON -- Today, the Bureau of Labor Statistics released new jobs figures - 18,000 jobs created in December. Since August 2003, more than 8.3 million jobs have been created, with more than 1.3 million jobs created throughout 2007. Our economy has now added jobs for 52 straight months - the longest period of uninterrupted job growth on record. The unemployment rate remains low at 5 percent. The U.S. economy benefits from a solid foundation, but we cannot take economic growth for granted and economic indicators have become increasingly mixed. President Bush will continue working with Congress to address the challenges our economy faces and help facilitate long-term economic growth, job growth, and better standards of living for all Americans.
* Real GDP grew at a strong 4.9 percent annual rate in the third quarter of 2007. The economy has now experienced six years of uninterrupted growth, averaging 2.8 percent a year since 2001.
* Real after-tax per capita personal income has risen by 11.7 percent - an average of more than $3,550 per person - since President Bush took office.
* Over the course of this Administration, productivity growth has averaged 2.6 percent per year. This growth is well above average productivity growth in the 1990s, 1980s, and 1970s.
By 2003, Mr. Bush grasped this lesson. In that year, he cut the dividend and capital gains rates to 15 percent each, and the economy responded. In two years, stocks rose 20 percent. In three years, $15 trillion of new wealth was created. The U.S. economy added 8 million new jobs from mid-2003 to early 2007, and the median household increased its wealth by $20,000 in real terms.
But the real jolt for tax-cutting opponents was that the 03 Bush tax cuts also generated a massive increase in federal tax receipts. From 2004 to 2007, federal tax revenues increased by $785 billion, the largest four-year increase in American history. According to the Treasury Department, individual and corporate income tax receipts were up 40 percent in the three years following the Bush tax cuts. And (bonus) the rich paid an even higher percentage of the total tax burden than they had at any time in at least the previous 40 years. This was news to theNew York Times, whose astonished editorial board could only describe the gains as a “surprise windfall.”
Uh, you were saying?
I was saying a whole lot happened subsequent to your Friday, January 4 2008 article.
Stuff like: That Dubya Great Recession has been a tough one to come back from. Worst economic crisis in 3 generations.
FYI, it's now April 30, 2017.
We're in a lot better shape than where the last GOP prez left us when his big bubble burst.
Last edited by Old Gringo; 04-30-2017 at 05:17 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
