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Thread: White House to paint grim fiscal picture: source

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Winnb View Post
    Well at least now I know you're a waste of time. I'm pretty sure there's nothing the Dems have ever done right in your mind so I'll just move on. You and your hyper-partisan nonsense can waste someone else's time.

    Awwwww....Don't go away mad there Win.


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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by hazlnut View Post
    Let me chime in here and see if I can help jog some partisan memories...

    You mean rewrite history don't you?


    There was that war in Iraq that was supposed to pay for itself... How'd that work out?

    Pretty damned good. haven't you heard? We won! And we didn't do such by talking nice to our enemies.


    And those tax cuts that flooded a deregulated market (Casino) with so much investment capital they had to invent new and creative unregulated ways to invest (lose) it... Seven Out..Craps!!

    Those tax cuts are what spurred a 5% unemployment rate, helped dig out of Clinton's morass he left Bush, and kept the economy rolling along even though the demo's were doing everything they could to undermine everything from the administration. To include blocking regulation reform, and attacking the regulators that were screaming that Fannie, and Freddie were about to implode due to the programs that the demo's lauded, and placed in....


    Oh, and that Medicare Prescription Drug, Improvement, and Modernization Act which the US Comptroller called "...probably the most fiscally irresponsible piece of legislation since the 1960s..."

    And the demo's tried to block it because they wanted a much larger program. I tell ya, it takes a lot of nerve for you to even type this, but I understand, its just regurgitation of talking points you pick up from MSNBC.


    And who could forget July 2008 when gas was $4.08/gal...

    Unbelievable. Gas at $4. ++ in '08 was a direct response to demo's rattling their destructive sabers, with a demo controlled congress, they were talking of punishing the oil companies, setting a floor to pricing higher than that, and doing everything they could to stand in the way of our own energy independence, and you and others wonder why gas pricing was high? DRILL!!! Get government out of the way!!!


    Thanks for the memories, W...

    You should be thanking him for real! But you libs won't be happy until you destroy this country.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Student pugetsoundwa's Avatar
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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by j-mac View Post
    Uh huh....From your own article....Maybe you missed it....





    j-mac


    guess you missed the chart that shows the Bush recession of 2001 wasn't Clintons...

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Scarecrow Akhbar View Post
    Hello?

    Is the Puget Sound connected to the rest of the real world?

    Yes, Bush inherited a recession.

    It was called the Clinton Recession, by some strange coincidence. That might be because the Clinton Recession started under Clinton as a direct result of his silly policies. But then again, maybe it's named after the former governor of New York. Whatever, Clinton ended his term in recession.
    Nope the recession started in Mar 01..months after Clinton left...

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    Re: White House to paint grim fiscal picture: source

    Not a big believer in Obama's policy --- in fact, I doubt the yearly budget will do anything but grow, not reduce. It's quite funny though how this white house spends trillions then speaks about spending freezes, signs a stimulus bill full of pork, then speaks out about how Congress has to control the pork, supports cap & trade, health care and supports big insurance company's but then wants a finanical responsibility summit, and who says there will be no lobbyists in THEIR White House but then makes exceptions and hires former lobbyists for key positions...

    The native American's used to say that's speaking with a forked tongue. So this whole view that the budget will reduce by 2013... yeah...not buying it as the WH credibility right now is in the ****ter.
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Ockham View Post
    Not a big believer in Obama's policy --- in fact, I doubt the yearly budget will do anything but grow, not reduce. It's quite funny though how this white house spends trillions then speaks about spending freezes, signs a stimulus bill full of pork, then speaks out about how Congress has to control the pork, supports cap & trade, health care and supports big insurance company's but then wants a finanical responsibility summit, and who says there will be no lobbyists in THEIR White House but then makes exceptions and hires former lobbyists for key positions...

    The native American's used to say that's speaking with a forked tongue. So this whole view that the budget will reduce by 2013... yeah...not buying it as the WH credibility right now is in the ****ter.

    Maybe the Dems will take a play from the Repub playbook and exclude things from being counted in the budget. Repubs did. they claim Reagan cut spending..if you didn't count the military spending that is......LMAO If we don't count the stimulas or any social program spending then the budget should show a drop..lol

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by pugetsoundwa View Post
    Maybe the Dems will take a play from the Repub playbook and exclude things from being counted in the budget. Repubs did. they claim Reagan cut spending..if you didn't count the military spending that is......LMAO If we don't count the stimulas or any social program spending then the budget should show a drop..lol

    Dude, take off those partisan glasses for a sec.....You stated to me that the recession from the Clinton years started in Mar 01, and after doing some research, you came to that conclusion using NBER's numbers. However, you stopped there, a classic liberal mistake.

    From 2004:

    The claim that the last recession started under Clinton is absolutely true. To deny this is not only to blame Bush for a problem he didn't cause, but to deprive him of the credit for fixing it with effective policies — which is exactly why the Left is so eager in this case. Here, however, are the facts:

    The unemployment rate bottomed at 3.8 percent in April 2000, and started deteriorating steadily from there (during the Clinton administration).

    The fed funds rate — the overnight interest rate administered by Alan Greenspan and the Federal Reserve — peaked at 6.5 percent in 2000, and had to be lowered in an emergency move on January 3, 2001, "in light of further weakening of sales and production" (during the Clinton administration).

    As the chart below shows, GDP growth fell off a cliff in the third quarter of 2000 (during the Clinton administration). Despite the shock of the 9/11 terrorist attacks, growth started to revive in the fourth quarter of 2001 (during the Bush administration).



    The one and only piece of evidence offered by Media Matters that’s to the contrary is that fact that the National Bureau of Economic Research set the beginning of the last recession at March 2001 — two months into the Bush administration. Check that date on the chart above: This well-respected economic research group set the beginning of the recession after GDP growth had already crashed from almost 5 percent to near zero. But according to Media Matters, this single authority determines truth, and everyone else is a liar. The article declares that "if NBER says the recession began in March 2001, the recession began in March 2001."

    The reality is that NBER is just like any other group of economists, struggling with partial and imperfect information to characterize phenomena that don't have any hard-and-fast definitions. Since NBER set the March 2001 recession start date in November 2001, there have been important negative revisions to key data. Most important, back then GDP growth for the third quarter of 2000 was reported at 1.3 percent — but now it's been revised all the way down to a negative 0.5 percent. NBER had no way of knowing that then.


    In fact, NBER has been on the verge of changing the recession’s start date for this very reason. According to the Washington Post earlier this year,

    NBER President Martin Feldstein said, "It is clear that the revised data have made our original March date for the start of the recession much too late," but he did not offer a different date. "We are still waiting for additional monthly data before making a final judgment," said Feldstein, a Harvard University economist. "Until we have the additional data, we cannot make a decision."
    Media Matters chooses not to mention this fact.

    Donald Luskin on Media Matters for America & the Clinton Recession on NRO Financial

    Ahem!


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by j-mac View Post
    .....You stated to me that the recession from the Clinton years started in Mar 01



    j-mac
    Nope I stated that Repubs are trying to re-write history. It never was a Clinton Recession but a Bush recession. The first of 2....

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    Re: White House to paint grim fiscal picture: source

    Donald Luskin???The same fool who writes for the rightwinged National Review??? Hardly credible.

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by pugetsoundwa View Post
    Donald Luskin???The same fool who writes for the rightwinged National Review??? Hardly credible.

    Argumentum Ad-hominem, Sorry, try again. Another article from March of 2001:


    Despite the media effort to pin the 2001 recession on President Bush, the fact remains that he had little to do with the last eight years of economic policy from the White House. The infamous miracle bubble of Bill Clinton's economy burst last summer when OPEC oil price increases rocked the world economy.

    In February 1999, Energy Secretary Bill Richardson visited Saudi Arabia when prices were at their lowest. Richardson reportedly pressed Saudi Oil Minister Ali Naimi on the "oversupplied market" and expressed concern about "extreme price volatility."

    Former Saudi minister Sheik Ahmed Zaki Yamani told a Houston oil conference that Richardson had "saved the oil industry" during that visit because his "intervention" had "persuaded" the Saudis to change policy by raising prices.

    After Richardson's visit, Petroleum Intelligence Weekly, an industry newsletter, quoted Saudi officials as wanting "a price of $18 to $20 as soon as possible."

    In 1999, then-President Clinton pressed OPEC to raise prices in order to finance the brutal Russian war in Chechnya. Clinton needed Russia's help settling that pesky little war in Kosovo. However, Bill was unable to aid Boris Yeltsin directly because of the rampant corruption inside Moscow.

    Clinton quietly used OPEC oil diplomacy to supply Russia increased energy profits. The influx of cash into Moscow was mainly obtained through Iraqi oil sold by the U.N. and distributed through Russian suppliers. The cash paid for the Russian war and a new round of rampant corruption, centered on the former Soviet GAZPROM state oil company.

    However, there were also unexpected results. The oil sales helped Saddam Hussein re-arm his military with a brand new Chinese-built air defense system. The move is also now seen as a major blunder that triggered the 2001 recession.

    Clinton Recession: 'Bill' Comes Due for 8 Years of Corruption

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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