What caused the crash was primarily the dark markets and a lack of regulation - core Republican principles. Clinton was on the bandwagon as well. That is why he was called the best Republican the Democrats have ever produced. Here is Greenspan, the primary overlord of the right-wing economic model, admitting that the model failed and he doesn't know why. He made a mistake in presuming that companies would act in their own best interest. As the right-wing market guru and treasury secretary Henry Paulson stated, market discipline failed. The conclusion from all of this is that Republican economic principles nearly destroyed the global economy. As Federal Reserve Chairman Ben Bernanke stated, We nearly spiraled into a 25 year global depression and the failure of the global banking systems. He couldn't see a bottom. And Republicans STILL won't admit it. They continue with the same old nonsense.
2019 is expected to be a decrease from 2018 so ‘solid moderate growth’ as a talking point is about to go out the window. Add in the recession indicators that are signaling a warning (that’s being ignored) and the entire narrative is likely — unfortunately — about to fall apart. Meanwhile we are expected to hit 1TN in added debt to the US in 2019. Why does ‘solid moderate grown’ need that level of debt?
It’s all rearranging the deck chairs on the Titanic. Because we spend too much on social programs, the entire economy will eventually collapse. We need to do what we can to delay the chaos and revolution that is inevitable.
You can argue all day long trying to assign blame for the mortgage collapse. The fact remains when the Democrats took back the Congress it was a year before the recession. Bush stopped a financial collapse with TARP and residential housing is a minor component of GDP. It was up to the Democrats to pass policies to help mitigate the depth and length and damage, as the Republicans did in 2001, and get us into a full recovery. They tried with their HUGE spending increases and tax increases and they were total failures and we had the worst recovery and worst unemployment in modern history.
There were two debates on two separate nights get your facts straight. And hormone addressed the deficits and debt and none are running on balancing the budget and lowering spending.
They took back the Congress January 2007. "The One Hundred Tenth United States Congress was a meeting of the legislative branch of the United States federal government, between January 3, 2007, and January 3, 2009, during the last two years of the second term of President George W. Bush. It was composed of the Senate and the House of Representatives. The apportionment of seats in the House was based on the 2000 U.S. Census. The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995." https://en.m.wikipedia.org/wiki/110th_United_States_Congress Is that clear for everyone now?
Yes... It isn’t the largest military on earth by a factor of 10 that’s the problem. It isn’t corporate tax breaks for billionaires. It isn't the most expensive healthcare humanity has ever seen. It’s poor people getting a few hundred bucks a month so they don’t starve. If you remove the insurance program that y’all like to lump into ‘social programs’ — a program directly funded by the recipients, if you cut it out you also have to cut a similar portion of tax receipts — the military and it’s affiliated costs become our next largest expenditure. Servicing the debt will soon become the second largest expenditure.
Yet the budgets are made the year before...and no way could the dems affect what was already in motion..
Yes the fiscal year started Oct. 2006. That last Republican budget had a paltry $161B deficit. Two years later the Democrats had it at $1,400B.
Gee, I wonder what made the deficit so high? That's really high. What did the Dems decide to spend it all on? Wowie!
The trend has remained unchanged since 2010. The republican policy of slashing spending and increasing spending is a proven failure with over 40 years of data showing this.
Bush handed the democrats the worst recession in 80 years, directly caused by republicans from 2001-2007.
When he signs it it owns it so he owns the increase and wanted an agreement..The repubs in Congress also facilitated the increased spending the dems can't do it all by themselves.
Don't you find it ironic that he only calls for principled changes after he has no chance of getting the items passed? First was the wall and now spending cuts? Where TF was this talk two years ago?
Solid moderate growth is what we had under Obama as well. Every economic metric has been on the exact same unchanging trend since 2010.
