The Great Obama Depression Grows Worse

Before Obama the economy was tanking at a -7% real rate, losing 700,000+ jobs a month, unemployment was skyrocketing, and the stock markets were crashing.

Now the economy has been growing steadily for a year and a half, the private sector has created jobs every month well over a year, stock markets are up about 90%, and the unemployment rate has fallen from above 10% to just at 9%.

Only a hyper partisan invested in failure for political purposes could say that there has been no accomplishment.

 

Arguments don't get much more clueless than that, folks....

 

This is a completely false statement. Tax collection under Bush was 7.5 trillion dollars as opposed to Clinton's 5.66 trillion dollars.
http://www.realclearmarkets.com/art...truth_about_the_bush_tax_increases_98625.html

Why should the economy be booming? Liberal Democrats and Republicans wanted to give poor people houses they couldn't afford. In an effort to make a profit off giving subprime loans to people who couldn't afford them, investment and mortgage firms bundled mortgages and sold them to hedge funds and banks. However, this is irrelevent. The root of the problem was the liberal policy of giving everyone a home of their own.

In addition, I think you know why we had a boom in the 50s and 60s. We were just coming off a war that had decimated Europe and Asia's industrial capacity. I know its hard for liberals to believe, but strong economies are sometimes based on market factors. Let's take the 90s. We had an internet bubble that expanded during the Clinton Administration and Republican Congress, which popped and caused a slight recession. Would a tax rate of 20% for top income earners have changed the computer-age bubble? Most rationale people would say "no."

 

My statement is absolutely true. Relatively they were far lower:

Year - Revenues % of GDP
1993 17.3%
1994 17.8%
1995 18.2%
1996 18.5%
1997 19.0%
1998 19.6%
1999 19.5%
2000 20.4%
2001 19.4%
2002 17.4%
2003 16.0%
2004 15.8%
2005 17.0%
2006 18.0%
2007 18.2%
2008 17.5%
2009 14.8%
2010 14.7%

Source data: BEA.gov, CBO.gov.

But tax collections relatively are lower than they've been in 6 decades.

According to your theory, the economy should have been kicking ass under Bush and booming now.

So much for your theory.

Sure. With top tax rates up to 91%.

So much for your theory.

 

Over 50% of American voters pay no taxes.

That is where the missing 3% has gone.

 

False.

...........

 

Why are you only looking at accomplishments? What about inflation? The price of food and gas has increased under Obama. What about U.S. Debt? Obama has increased our debt by $4 trillion dollars in a little more than 2 years. Its cleat that the money spent on the stimulus package has not helped us reach the goals set by Obama.

Can you please provide proof that the stock market is up about 90%?

I guess your just another hyper partisan hack.

 

That was a long, long time ago.

Obama took office just after the recession hit bottom and we could expect to get better but it didn't.

The Bush recession is becoming the Obama depression.

 

That is true,

The numbers you posted were federal income tax receipts and the bottom 50% pay none of that money.

 

False. The numbers I posted were total federal tax receipts. Everyone who works pays.

 

And yet we collected more taxes under Bush than any other President. You statistic is meaningless. At the end of Bush we ended with 7.5 Trillion dollars in revenue and under Clinton we ended with 5.45 Trillion dollars in revenue.

At the end of the day, if the scoreboard in the football game is 14 to 7, it doesn't really matter if the passing completion from the losing quarterback was higher than the winning quarterback.

Its called market factors. impoverished Americans couldn't afford their undeserved mortgages, and they lost their homes, causing a collapse of the U.S. economy. I blame the policies that gave businesses the incentives to provide homes to unqualified mortgage holders, as well as the liberal politicians in the government that insisted that more mortgages be given to the poor.

My theory has come to fruition. impoverished individuals lost their homes, which caused a collapse in the housing market. I believe Ron Paul and Peter Schiff were criticized for saying this two years before it actually happened.

Please take an economy class to educate yourself.

 

Inflation and the debt are not measures of the economy. I agree Obama needs to address the deficits. With obstructionists controlling the House, that is more of a challenge.

Dow close:
Mar 9, 2009 6,547.05
Close yesterday: 12,569.79

92% increase.

Guess not.

 

With Obama in office it's more like DISSYLAND!

 

That's complete B.S. There are so many employees being paid off the books in this country, and you could probably name a hundred if you thought about it. For example, Restaurant employees, family business employees, and commissioned workers.

 

The experts agree. The actions taken by this administration have only worsened a situation that should have been left to correct itself.

The housing disaster has not yet hit bottom and they expect it to last another 5 to 8 years.

 

Yah! Guess under Obama they just don't count the ones giving up even looking any more. They probably figure Obama will just come to their rescue.

 

Nominal revenues increase under every president. If you want to compare gross figures, revenues increased 85% under Clinton but only 25% under Bush.

You obviously do not understand the concepts of time value of money, effects of inflation, and comparing economic numbers over time.

Please take an economics class to educate yourself.

Your silly analogy shows an ignorance of economics.

Please take an economics class to educate yourself.

Did you forget Bush and the Republicans pushing home ownership as part of the "ownership society"? How convenient of you to forget.

But Bush slashed taxes, and tax revenues accordingly. According to your theory, the economy should have been booming.

So much for your theory.

Please take an economics class to educate yourself.

Tax payments are relatively the lowest in 6 decades. According to your theory, the economy should be booming.

So much for your theory.

Please take an economics class to educate yourself.

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=213

Now you're educated.

You "economy" class didn't do you any good.

Please take an economics class to educate yourself. Or better yet, macroeconomics.

 

They still do, as they have for decades.

http://www.bls.gov/news.release/empsit.t15.htm

 

No, your still a hack. Inflation is a major problem that Republicans and economists expected to get worse as Obama continues to devalue our dollar with spending increases.

 

Arab Spring ,Sunmmer of Recovery, Fall Primaries, Winter Games ...

 

Why is it whenever it comes to arguing their point, so many of our conservative friends have to resort to unprovable claims about what they say things will be in the future, and can't defend their position based on facts? I see it all the time. They argument gets rebutted with facts, and all they can say is that things are going to get real bad in the future.

 

Many were afraid it would get a *lot* worse.

The Great Bush Recession has been turned around since Obama took office.

It will take several more years to correct the huge amount of damage, though.

 

Which "experts" are those?

 

WoW! I take it you must of had a piece of Obama's pie. More like it's been sitting out there for 10 days instead.

 

Well jobs are growning, not disappearing. They are just not growing fast enough, let alone fast enough to mop up all the extra unemployed. Confidence is low, but it is higher than when Obama took office. Home prices are still above historical trends.

Do you not understand a thing about economics. Housing was a bubble. It popped. Look at historical housing trends and the current prices around where they should be on a historical basis. However, considering the glut of over-builsing during the boom and the number of bank forclosures still going on, and prices should be below historical trends. So the housing prices are still correcting. I though right wingers believed in the free market?