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Thread: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

  1. #121
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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by rocket88 View Post
    It was a real recession. Obama did inherit a crappy economy. The point is that it's still a crappy economy almost 3 years later.
    A crappy economy, sabotaged by the Democrats before they took over Congress and made confoundedly so, after they took over Congress.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by apdst View Post
    A crappy economy, sabotaged by the Democrats before they took over Congress and made confoundedly so, after they took over Congress.
    I wonder how many Democrats claimed that the Democrats were sabotaging the economy fro 2007-2008 when they had total control of the Congress. Didn't the country go into recession in December 2007?

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Conservative View Post
    I wonder how many Democrats claimed that the Democrats were sabotaging the economy fro 2007-2008 when they had total control of the Congress. Didn't the country go into recession in December 2007?
    But...but...but...it's Bush's fault!

    You'll never hear them admit to who was running the show at Fannie and Freddie while things were, "just fine", either.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by apdst View Post
    But...but...but...it's Bush's fault!

    You'll never hear them admit to who was running the show at Fannie and Freddie while things were, "just fine", either.
    Exactly, Franklin Raines and Jamie Gorelick made millions, Big Democrats

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Conservative View Post
    Sorry but that is a lie, Bush still had a net job gain in his 8 years

    Employment numbers

    Jan 2001 137.7
    Jan 2009 142.2 that is a gain of 4.5 million

    2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
    2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
    2003 137417 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
    2004 138472 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
    2005 140245 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
    2006 143142 143444 143765 143794 144108 144370 144229 144631 144797 145292 145477 145914
    2007 146032 146043 146368 145686 145952 146079 145926 145685 146193 145885 146483 146173
    2008 146421 146165 146173 146306 146023 145768 145515 145187 145021 144677 143907 143188
    2009 142221 141687 140854 140902 140438 140038 139817 139433 138768 138242 138381 137792
    I stand corrected, but it was still the worst job creation rate for a president on record.

    Bush On Jobs: The Worst Track Record On Record - Real Time Economics - WSJ

    Which is kind of my point. The economy was **** when Obama took office and has not gotten much better.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by SouthernDemocrat View Post
    I stand corrected, but it was still the worst job creation rate for a president on record.

    Bush On Jobs: The Worst Track Record On Record - Real Time Economics - WSJ

    Which is kind of my point. The economy was **** when Obama took office and has not gotten much better.
    That is true, now tell me do you think the Democrats sabotaged the last two years of the Bush Administration to regain the WH in 2008? The economy was in the crapper when Obama took office but Obama was in the Congress that helped create the problem. I find it interesting that so many use that argument and ignore that the recession officially ended in June 2009, Obama had his economic plan implemented almost day 1 by a massive majority of Democrats in the Congress and here we are two years AFTER the end of the recession and the numbers are terrible still with higher unemployment than when he took office and 16.2% total unemployment today vs when he took office. The Obama record is a disaster and a good President with a strong pro growth economic policy would have generated much more positive economic results than Obama.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Let me see if I have the rabid right winger economic history down here.

    In the late 70s, the Carter economy sucked. The great Republican Messiah Ronald Reagan came into office in 1981, he instituted his tax cuts, the country went into a deep recession in 1982-83. That however was all Carter's fault. The economy then entered into a period of expansion, lasting through the end of the Reagan Administration. Then Bush Sr. took office, the economy grew for a while then went into a recession because Bush raised taxes in order to curb the huge deficits he inherited from the Democratic congress that made Reagan spend so much money. Then in 1993, Bill Clinton took office. He and the Democratic congress raised taxes again, all the Republicans predicted it would cause a huge recession, instead the economy grew, median income went up every year, the poverty rate went down every year, and 22 million new jobs were created and thus outperformed the Reagan economy by every measure. However, that was all due to Reagan. You see even though he was senile, as the Republican Messiah, he was still able to bring about prosperity for the country despite his dementia. Any other credit for the economic expansion resulted from the Republican congress elected in 1994. When Bill Clinton left office we had the largest budget surplus in our history. That had nothing to do with Bill Clinton though, it was all because of senile retired Reagan, and the Republican congress. In 2001 the dot com bubble had burst, and we went back into a recession. The recession was all Bill Clinton's fault, and Carter probably had something to do with it as well, this of course is despite the fact that we still had the same Republican congress in office. That same year we were also attacked on 9/11, which was not Bush's fault at all, but rather was Bill Clinton's fault as well as liberals in general, gays, environmentalists, feminists, and all non-evangelical Christians. Luckily Bush had a round of tax cuts, then another in 2003, and got us involved in 2 wars. However, the economy was growing again, and some jobs were being created, so the Republicans of course were singing his praise, praising financial deregulation, talking up Bush's vision for an "ownership society" where nearly everyone owned a home, and even talking about how it might be a great idea to take the current Social Security and Medicare surpluses and invest them in mortgage securities as they would be a very safe investment and offer a much better return (I actually heard a Heritage Institute economist push that very idea on NPR back in 2005). Bush was great until the economy tanked, but that was all Obama's fault, even though he had yet to take office (presumably, businesses all over the world were so afraid of the prospect of Bush being out of office they practically ceased all economic activity). Once Obama took office in January, 2009, everything bad that had happened in the last 10 years suddenly became his fault.

    I think I got it now.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Conservative View Post
    That is true, now tell me do you think the Democrats sabotaged the last two years of the Bush Administration to regain the WH in 2008? The economy was in the crapper when Obama took office but Obama was in the Congress that helped create the problem. I find it interesting that so many use that argument and ignore that the recession officially ended in June 2009,
    Ok, the housing bubble started around late 1997 through 2005. That bubble was the catalyst for the great recession. The housing bubble correction started in 2006, and in late 2007 onward, the mortgage securities and derivatives markets blew up causing a worldwide financial crisis. So this, despite it all occurring while Republicans controlled congress, is the fault of the Democrats in 2007 onward?

    Could it be.....could it possibly be.... that we had this massive unregulated derivatives market which allowed mortgage securities to be packaged and sold, that resulted in the massive housing bubble that eventually caused the great recession? I mean I know you guys like to blame Fanny and Freddie, and they do share some of the blame, but they were late to the game on the housing bubble. Moreover, they don't explain the massive commercial real estate bubble at all, nor do they explain the asset bubbles at the time that were across much of the industrialised world.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

  9. #129
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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by dontworrybehappy View Post
    It just can't keep going like this. Obama's going to end up getting slammed in 2012 if this doesn't fix itself soon. Whether or not it's his puppy, it will ultimately be him, and the democratic party, that are slammed over this news. Why? Because they are in charge and have been since the beginning of this economic turndown.

    Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls - FoxNews.com
    You know, this could be a real problem for Obama if:

    a) the Republicans actually had a credible alternative; and
    b) the American people believed the economy was Obama's fault rather than Bush


    As to a) the Republicans offer up a Bachman, Palin, Gingrich or the Pizza Man..... none of the above remotely credible and
    b) the American people rightfully continue to blame Republican administrations for our current economic dull drums (http://www.cbsnews.com/htdocs/pdf/po...in;contentBody)

    Certainly cause for concern for Dems, but given that credible Republicans have no chance of actually winning the nomination, its not likely to be a real problem.
    Last edited by upsideguy; 07-08-11 at 11:34 PM.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by SouthernDemocrat View Post
    Ok, the housing bubble started around late 1997 through 2005. That bubble was the catalyst for the great recession. The housing bubble correction started in 2006, and in late 2007 onward, the mortgage securities and derivatives markets blew up causing a worldwide financial crisis. So this, despite it all occurring while Republicans controlled congress, is the fault of the Democrats in 2007 onward?

    Could it be.....could it possibly be.... that we had this massive unregulated derivatives market which allowed mortgage securities to be packaged and sold, that resulted in the massive housing bubble that eventually caused the great recession? I mean I know you guys like to blame Fanny and Freddie, and they do share some of the blame, but they were late to the game on the housing bubble. Moreover, they don't explain the massive commercial real estate bubble at all, nor do they explain the asset bubbles at the time that were across much of the industrialised world.
    Thank you.... someone that actually understands the root cause of the economic problem.

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