Thanks to Obama and the Democrats, a new recession has now begun!

Thanks to Obama and the Democrats and their proliferate spending habits, the second U.S. recession has now begun!

Obama's stimulus packages have failed. The downdraft in the equities market today clearly show Obama is no longer steering the bus. And waht is worse, he and Tim Geithner have absolutely no clue how to cure and bring back our sick and ailing economy!

The new Wall Street mantra in response to the debt ceiling crisis: “When you can't sell what you want to sell, you sell whatever you can!”

We desperately need a smaller government in place to solve this problem. When we say a "smaller government" we mean the way our government was immediately before Bush and Obama came on the scene and went crazy advocating new, expensive government programs.

Here is the huge problem we are facing folks: When Bush took over with a Republican controlled Congress in 2001 the Cumulative National debt was $4.02 trillion dollars. When the Democrats took over Congress in 2007 it was $5.0 trillion dollars. When Obama took over with a Democrat Congress in 2009 the Cumulative National Debt was $7.4 trillion dollars, now in 2011 it's $14+ trillion. The Democrats took Congress in 2007, from 2000 till then the Cumulative National debt rose $1 trillion. Once the Democrats took over Congress with a Republican President the Cumulative National Debt rose $2.4 trillion dollars and since the Democrats took the White House and had a Democrat Congress in 2009 the Cumulative National debt rose from $7.545 Trillion to over $14+ trillion in 31 months.

 

No


thanks to all the Americans who cannot live except by credit and for working to spend all their taxes on bullets and bombs.

 

LOL were we ever out of the last recession?

 

Let's spend our way out of this!

 

Ha-ha!

Very good, TravisZ.

By the way, have you noticed how the latest liberal ploy is to deflect the blame for our problems from Barack Obama and place it squarely on the shoulders on the Tea Part movement? This is a cheap charade and a deceptive act and the Left knows it!

Granted, today we have more stability in our economy than we had three years ago, but thanks to the policies of Obama and the Democrats, we seem to have stabilized into an era of high unemployment, low growth and endless economic risk. Rather than recovering from the crisis, it is almost as if we have settled into a new one. And no one, including Barack Obama and Tim Geithner, quite knows how we’re going to escape.

Given Obama's latest recovery policies, have you ever heard of a poor person spending himself into prosperity?

The Democrats these days practice a form of logic only a socialist would understand!

 

Good question, kuyajack.

Many people today don't think so.

 

Yeah. There are only a thousand US military bases. Some further extravagence is in order. They are so useful too;

 

A new recession? From where I sit the first one never ended and it is just a continuation of what happened under Bush Jr.

How many people here are brave enough to admit that they were gullible to believe this CNN report?


Economists: Recession to end in 2009

A recovery in the second half of this year will be 'moderate,' according to a report from the National Association for Business Economics.
NEW YORK (CNNMoney.com) -- The end of the recession is in sight, according to a new survey of leading economists.
While the economy is showing signs of stabilizing, the recovery will be more moderate than is typical following a severe downturn, said the National Association for Business Economics Outlook in a report released Wednesday.
The panel of 45 economists said it expects economic growth will rebound in the second half of 2009. However, the group still expects to see a decline in second-quarter economic activity.

http://money.cnn.com/2009/05/27/news/economy/NABE_recovery_outlook/

 

You are very correct, BFSmith.

Check this out.

A presidency in decline.

"The omens are certainly not looking good for President Obama, as he approaches the final 16 months of his presidency. Public opinion has turned firmly against him in recent weeks, as it did in the months ahead of the November 2010 midterms. On the economy, undoubtedly the dominant issue for voters in 2012, he is on distinctly shaky ground, with his Big Government agenda increasingly distrusted by the American electorate, scorned by the financial markets, and given a vote of no confidence by credit agency Standard and Poor’s. By almost any measure, this is a presidency in steep decline and in serious trouble. This is looking like another ‘annus horribilis’ for Barack Obama, the ‘hope and change’ president who, on current trajectory, seems destined for failure, with a legacy of declining prosperity at home and dispiriting American weakness abroad."

 

The thing is though even if Obama only served one term and someone else becomes the President things are not going to get better. The Presidents are puppets or figure heads that are put out there to give the people the impression that they are in control and they are free.

 

And here I thought the Republicans were in charge of the House...you know that place that's the legislative branch of government.

 

What would you have the House do? Cut, Cap and Balance was DOA because of Reid; everything that the Republicans really wanted to do was shot down by the Senate.

 

while spending bills traditionally start in the lower house (there's two, eh), Democrats have controlled all spending from 2006 to present. the Republicans have only controlled the House since Jan. of this year.

 

You are very correct, mikezila.

Your remarks are very sincere, directly to the point and well crafted!

However, the problem today is we have way too much socialism and way too little capitalism. This is why the unemployment rate (9.2%) in our nation continues to remain so stubbornly high.

As a result, this is where we find ourselves today.

^

[ame="http://www.youtube.com/watch?v=19v5Kjmc8FI&feature=related"]The Obama Stash of Stimulus Cash -- Dolla Dolla Bills, Y'all!! - YouTube[/ame]

 

LMAO with OP.

Everyone knows this is the Republicans' economy now. They made this bed, they will need to sleep in it.

 

This might be the most simple minded drunken spew I have seen here in a long time.

 

The above comment is too dumb for words...

That this is even written down on PF.com!

That such stupidity even excists!

Some people clearly have no shame.

Socialism, by definition, ensures full employment.

So, any fair-minded person realizes that "Socialism" isn't the problem here.

 

...

Funny, but you have only been a member here for a month and half maximum.

Read S&P's announcement -- a minority of Republicans has caused utter economic chaos in the USA and around the globe. I guess they that fills them with pride.

Throw'm on the pyre I'll say!

 

That would be only if you had control of the businesses, right now, socialism only has control of the payouts or handouts. Taking more money from businesses to give to those that don't work.

 

Funny that in 3 years, nothing has been Obama's fault. The failure of the stimulus, not his fault. The continuing of high unemployment, not his fault. Housing market still taking a dive, not his fault. The gas prices skyrocketing AGAIN, not his fault. In 3 years, he supposedly has not had the time to do anything that is his fault (tough I know when he is golfing every weekend and on vacation every other month). But in 6 months of being in congress, the TEA party gets all the blame...even though they don't have enough votes to keep crappy bills from going through congress.

 

This isn't exactly true as the initial recession was caused by "easy credit" that lead to over-consumption and demand. Easy credit spurred the purchase of 18 million new cars in one year that was about 50% more than was sustainable and also lead to the highest ration of debt to income ever at over 134% of debt to income.

Additionally easy credit with no-qualifying loans lead to over production of single family homes where between 2.5 and 3 million extra homes were built.

The excess homes with prices being driven by speculation, not need, peaked and there was no one else left to purchase these over-priced homes. Individuals with ARM's were unable to sell their homes when the ARM interest rates increased beyond their ability to pay causing a collapse in real estate market and massive foreclosures. Auto sales dropped as those with high debt to income levels stopped taking out loans for new cars and began to focus instead on paying down debt.

We still have over 2 million excess homes and the housing market will not balance out for about two more years. Until the housing market stabilizes there won't be new construction which drives unemployment far beyond just construction workers.

People are still trying to reduce their debt burden and it is coming down to somewhere in the 120% range but until it falls below 100% they aren't borrowing which reduces consumption. This again leads to unemployment as there is a lowered demand for goods.

There has not been a recovery and cannot be a recovery until personal debt is under control and below the 100% level of debt to income. There will not and cannot be a recovery until the 2 million plus excess homes on the market are consumed based upon demand.

The US government is really helpless to do anything about either of the two causes of the recession. It attacks the symptom but not the problem because it has no means for addressing the real problems. Democrats and Republicans are lying if they say that they can address the actual problem.

The increase in the national debt is a serious problem unrelated to today's recession. It will result in a decline in future GDP growth and that will prevent millions of new jobs being created in the future but not today. Long term the national debt is a job killer but it is long term and not immediate.

 

You are very mistaken, Abu Sina.

The lion's share of the money the government spends these days goes to entitlement programs.

Check this out.



We spend 56 cents out of every tax dollar collected on welfare programs and the loopy liberals want us to spend even more. We spend less than 20% of our tax dollars on defense programs. Obama will soon do this by cutting our defense budget.

 

While I agree with this the only way this would be achieved is by electing Libertarians.

Neither Republicans or Democrats are interested in smaller government. The only difference between Democrats and Republicans is that they want larger government for different purposes.

 

This is actually true but the two biggies of entitlements, Social Security and Medicare, are financially in the black as FICA/Payroll taxes that support them have resulted in more revenue than expendatures. That won't last indefiniately but currently the national debt and deficit spending are unrelated to Social Security and Medicare.

If we remove Social Security and Medicare entitlements which are funded with dedicated taxation then DOD spending represents the the loins share of general expendatures.

 

You're half right. Social Security is currently in the black because the revenues exceeded the costs for quite a few years, so now it has a good pool of bonds to pay for the current shortfalls.

Medicare, on the other hand, has been running a nearly half-trillion dollar deficit for many years now, so most medicare spending comes from general revenue, not from Medicare taxes.