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Thread: Obama's approval rating grows following memorable week

  1. #581
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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Conservative View Post
    Yep, you are right, Bush destroyed the economy all by himself under the nose of the Democrat Congress. Where do you get this kind of crap? I can see this has to be an act for no one could really be this dense.
    No, the Democratic-controlled congress had nothing to do with it. Most of the blame lay with Clinton and the Republican-led congress which repealed Glass-Steagal and effectively deregulated the finance industry. The repeal passed the Republican-led congress with veto-proof margins, but instead of vetoing it, Clinton signed it...and because of that, he owns it. That, added to Bush 43's utter incompetence in slashing taxes and lying us into hideously-expensive wars, set us up for the Great Recession...

    ...and yeah, according to the Fed (which is NOT somehow controlled by the White House), it WAS the worst economic crisis since the Great Depression.
    To do evil, a human being must first of all believe that what hes doing is good" - Solzhenitsyn

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  2. #582
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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Glen Contrarian View Post
    No, the Democratic-controlled congress had nothing to do with it. Most of the blame lay with Clinton and the Republican-led congress which repealed Glass-Steagal and effectively deregulated the finance industry. The repeal passed the Republican-led congress with veto-proof margins, but instead of vetoing it, Clinton signed it...and because of that, he owns it. That, added to Bush 43's utter incompetence in slashing taxes and lying us into hideously-expensive wars, set us up for the Great Recession...

    ...and yeah, according to the Fed (which is NOT somehow controlled by the White House), it WAS the worst economic crisis since the Great Depression.
    It was definitely a perceived financial crisis although there were many banks who didn't want TARP and paid it back with interest in a very short period of time. The question is what did Obama do with the principle and interest

    It was a financial crisis for some but the majority in this country weren't hurt at all. How were you hurt? I wasn't hurt, suffered some paper losses but that was short lived, and didn't sell my house thus suffered no losses. I compare this to the 81-82 recession compounded by high inflation and high interest rates thus almost every American was affected

  3. #583
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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Conservative View Post
    I remember the cry after 9/11/2001 that "We will never forget" but apparently you have. 9/11 cost the U.S. over a trillion dollars according to the GAO which is one trillion of the Bush debt. Govt. revenue increased to a record level of 2.7 trillion dollars from 2.1 trillion dollars AFTER the entire Bush tax cuts were implemented. It does seem that liberals look at basic math and ignore economic activity. GDP grew from 10.2 trillion to 14.7 trillion during the Bush term so apparently liberals believe that higher taxes which take money from the economy would still have generated the 4.5 trillion increase in GDP. I don't and never will understand liberal logic. Tax more and people will spend the same? Interesting and wrong
    If you'll check, after adjusted for inflation, our tax revenue didn't do so well after Bush slashed taxes:

    u-s-federal-government-revenue-current-inflation-gdp.jpg

    Even as he continued to spend more and more every year (the first six of which were with a completely Republican-controlled congress):

    201104_blog_edwards141.jpg
    To do evil, a human being must first of all believe that what hes doing is good" - Solzhenitsyn

    "...with the terrorists, you have to take out their families." - Donald Trump

  4. #584
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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Conservative View Post
    It was definitely a perceived financial crisis although there were many banks who didn't want TARP and paid it back with interest in a very short period of time. The question is what did Obama do with the principle and interest

    It was a financial crisis for some but the majority in this country weren't hurt at all. How were you hurt? I wasn't hurt, suffered some paper losses but that was short lived, and didn't sell my house thus suffered no losses. I compare this to the 81-82 recession compounded by high inflation and high interest rates thus almost every American was affected
    Frankly, I'll take the Fed's word over yours when it comes to whether Reagan's recession was somehow worse than the Great Recession (and FYI, I had a foreclosure and bankruptcy during the GR).

    If you'll read around, what made the difference this time, what kept the GR from becoming much, much worse, was the response of the government, the quick reactions by both Bush and Obama. According to the IMF:

    Without the quick and massive policy response, the Great Recession might still plague the United States
    THE U.S. economy has come a long way since the dark days of the Great Recession. Less than two years ago, the global financial system was on the brink of collapse, and the United States was suffering its worst economic downturn since the 1930s. At its worst, real gross domestic product (GDP) appeared to be in free fall, declining at nearly a 7 percent annual rate, with job losses averaging close to 750,000 a month. Today, the financial system is operating much more normally, real GDP has grown by more than 3 percent during the past year, and job growth has resumed, although at an insufficient pace.
    From the perspective, say, of early 2009, this rapid turnabout was a surprise. Maybe the country and the world were just lucky. But we take another view: the Great Recession in the United States gave way to recovery as quickly as it did largely because of the unprecedented responses by monetary and fiscal policymakers.
    The Federal Reserve (Fed), the Bush and Obama administrations, and the U.S. Congress pursued the most aggressive and multifaceted fiscal and monetary policy responses in history. While the effectiveness and/or wisdom of any individual element can be debated, we estimate that if policymakers had not reacted as aggressively or as quickly as they did, the financial system might still be unsettled, the economy might still be shrinking, and the costs to U.S. taxpayers would have been vastly greater.


    But of course since the Fed and the IMF say things that you don't agree with, you'll immediately discount anything they say.
    To do evil, a human being must first of all believe that what hes doing is good" - Solzhenitsyn

    "...with the terrorists, you have to take out their families." - Donald Trump

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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Glen Contrarian View Post
    If you'll check, after adjusted for inflation, our tax revenue didn't do so well after Bush slashed taxes:

    u-s-federal-government-revenue-current-inflation-gdp.jpg

    Even as he continued to spend more and more every year (the first six of which were with a completely Republican-controlled congress):

    201104_blog_edwards141.jpg
    What affect did a 4.5 TRILLION dollar increase in GDP have on percentage change? Think about it? The higher the GDP the lower the percentage change because the devisor is larger.

    Also as to the national debt, TARP was excluded in the Federal spending dollars because it occurred in fiscal year 2009 not 2008 and it was then recycled instead of being reducing the national deficit. In addition it was Obama that signed the fiscal year 2009 budget, not Bush and it was Obama that spent 6 months worth of spending including Stimulus money, Afghanistan supplemental expenses, take over of GM/Chrysler, bailout of AIG

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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Glen Contrarian View Post
    Frankly, I'll take the Fed's word over yours when it comes to whether Reagan's recession was somehow worse than the Great Recession (and FYI, I had a foreclosure and bankruptcy during the GR).

    If you'll read around, what made the difference this time, what kept the GR from becoming much, much worse, was the response of the government, the quick reactions by both Bush and Obama. According to the IMF:

    Without the quick and massive policy response, the Great Recession might still plague the United States
    THE U.S. economy has come a long way since the dark days of the Great Recession. Less than two years ago, the global financial system was on the brink of collapse, and the United States was suffering its worst economic downturn since the 1930s. At its worst, real gross domestic product (GDP) appeared to be in free fall, declining at nearly a 7 percent annual rate, with job losses averaging close to 750,000 a month. Today, the financial system is operating much more normally, real GDP has grown by more than 3 percent during the past year, and job growth has resumed, although at an insufficient pace.
    From the perspective, say, of early 2009, this rapid turnabout was a surprise. Maybe the country and the world were just lucky. But we take another view: the Great Recession in the United States gave way to recovery as quickly as it did largely because of the unprecedented responses by monetary and fiscal policymakers.
    The Federal Reserve (Fed), the Bush and Obama administrations, and the U.S. Congress pursued the most aggressive and multifaceted fiscal and monetary policy responses in history. While the effectiveness and/or wisdom of any individual element can be debated, we estimate that if policymakers had not reacted as aggressively or as quickly as they did, the financial system might still be unsettled, the economy might still be shrinking, and the costs to U.S. taxpayers would have been vastly greater.


    But of course since the Fed and the IMF say things that you don't agree with, you'll immediately discount anything they say.
    Of course you will take the Feds word because they have no concept of how the recession affects the average American but the reality continues to be the lack of leadership which not only prolonged this recession in terms of economic activity although the recession officially ended in June 2009, but also in terms of economic recovery which have been anemic. Obama inherited a 14.7 trillion dollar economy that is now 17.5 trillion or a 2.8 trillion increase of which 842 billion was TARP.

    What you don't seem to understand is that the Fed posts numbers and those numbers are generated by economic policies. It is economic policies that prolong or improve the recovery. Obama's incompetence, lack of leadership skills, and zero experience in the private sector caused the numbers to be worse and when you look at numbers of course this will look like a more severe recession. Reagan leadership brought us out of the recession, Obama's lack of leadership created the poor recovery and numbers.

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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Conservative View Post
    Only because people like you don't understand return on investment or even the peace dividend. Keep posting Op ed pieces from people like you who don't understand that if you destroy the Soviet Union you don't need a much defense spending and if you create 17 million jobs those are 17 million fewer people who need that so called govt. help thus less govt. spending.

    It is obvious that it is you that doesn't understand economics, Return on investment, or even personal behavior including your own. Why do you buy a house if not for an investment and to get a return on that investment? Why did Reagan spend so much on defense if not to create a return in the future thus a peace dividend.

    Maybe this will help you but probably not

    Articles: Who Spent the Peace Dividend?

    https://en.wikipedia.org/wiki/Peace_dividend
    He INCREASED the defense spending. You don't know what you're talking about dude!
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Conservative View Post
    Yep, you are right, Bush destroyed the economy all by himself under the nose of the Democrat Congress. Where do you get this kind of crap? I can see this has to be an act for no one could really be this dense.
    He was in charge and did nothing to stop the oncoming disaster (exactly how 9/11 was handled as well). You probably don't know (and wouldn't accept the facts even if you did) that his campaign slogan in 2004 was "The Ownership Society," which was based on the massive real estate fraud being perpetrated on the country by lenders, appraisers and investment bankers that ended up erasing $17T in home values almost overnight. I can't wait to hear your weasel explanations for that.

    for your reading pleasure (just kidding; you won't let yourself learn this stuff): http://www.nytimes.com/2008/12/21/bu...anted=all&_r=0
    Last edited by digitusmedius; 07-07-15 at 08:42 PM.

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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Montecresto View Post
    He INCREASED the defense spending. You don't know what you're talking about dude!
    I applaud your talent for understatement, sir (madam?).

  10. #590
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    Re: Obama's approval rating grows following memorable week

    Quote Originally Posted by Conservative View Post
    Get a fifth grader to help you read it and explain it to you
    Thank you for admitting the level of your writing skill. But that's still higher than any other level of understanding you possess.

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