Why did the economy implode 6 months into Barack Hussein Obama presidency?

Its a complex question where in short... The economy was screwed before he got into office but the democrats thought that raising taxes and spending trillions would make it better. With that said its not his fault alone the economy is bad, its years of poor economic policy and the inability to understand economics now. The last thing the government should be doing is spending money and taxing more.

Because he made it implode, obviously. Not within the past 6 months. That would be silly. No one, not even the P.O.T.U.S. could bring down the U.S. and global economies in so short a time. What very few people know is that Barack Obama has a time machine. He went back in time to 1913 and single-handedly set up the Federal reserve and the global plutocracy that owns and runs everyone and everything on the planet, including every government and every P.O.T.U.S. to this day. He also set up consumer capitalism, the military industrial complex, the oil, insurance, health care and food industries and Wall Street and the financial sector which are currently sucking every last penny from the poor and what's left of the middle class so the richest of the rich can pay each other bigger bonuses. He's done so much more terrible stuff over the centuries that I could write volumes. Now, that's sarcasm.

Actually, the economy imploded about 10 months before Obama became president and is now improving, but I guess being a Republican means never letting reality get in the way of a dishonest smear.

This implosion was a liberal creation 30 years in the making with CRA (community reinvestment act) Carter, Clinton, and every marxist on the senate finance committee like Barney Frank forced banks to make bad loans in the hope of giving every person a house in America on the taxpayers dime. Amazingly enough, it didnt work and its crashed the financial and housing sectors of the economy.

Obama though is just making it worse by emboldening liberals in the congress to spend out of control. You cant spend your way to prosperity with borrowed govt money. It just never works like that!

Because it was already "imploding". If a huge bolder is rolling downhill at a rapid rate, picking up even more negative momentum on the way, nobody can stop it immediately, it will go further downhill until the momentum is slowed, halted and finally reversed. Obama isn't Jesus, and as convenient as it may be for you to blame him for something that has been spiraling out of control for years, its just not very practical, insightful or intelligent.

Not many will, because they are cowards. Ever notice how many say they are undecided, or they would rather keep it private who they will vote for or voted for?. We don't hesitate to proudly say our choice. I can get the ones that relate because Obama looks like them, they feel he represents them, I get that. But what excuse do the rest have?. They should be ashamed!.

The implosion was in the cards long before Obama was even nominated. Bush was warned in his first term and as he did with so many other warnings, (9/11, Katrina) Bush did nothing. There's plenty of blame to go around.

The recession began in the spring of '08.

Stop listening to those idiots who are trying to blame Obama. This crisis has been a long time in coming, Congress could have done something years ago, but since the economy was growing they thought everything was just fine.

As long as the bankers were making huge profits, making money out of nonexistent money, everybody was happy. People buying houses that they couldn't possibly afford, brokers encouraging buyers to lie on their applications, lenders who couldn't be bothered to check applications, and so on.

To blame Obama for this mess is to show total ignorance of what has been going on for the last 10 years or so.

It wasn't "socialism" that put you into this mess - it was deregulated, greedy, unethical capitalism that caused the economy to implode, as well as the culture of piling as much money into one's bank account as possible.

Living far beyond one's means is another big part of it. Going wild with credit cards and getting in over one's head with the banks has put many people in over their heads. Living a six-figure lifestyle with a five-figure income is what really got you in trouble.

Because the people who are in the business of actually dealing with the economy the old fashioned way -i.e. being productive, creating real jobs, and making money as private entities- finally began to realize, in their panning and their investments, that this

Naif in Chief was actually serious in his economic intentions. Anyone who actually runs a business or makes investments as individuals -rather than those "too big to fail" that welcome interventions so long as they are on their behalf over smaller competitors- can't help but realize, as long as their senses are functioning, that this man and his ideas could destroy prosperity on small and large scales. Obama used the key words "spread the wealth", which is the only thing he is familiar with when it comes to economics because he was never briefed by mentors or cabinet members that before any wealth could ever be "spread", it has to be created. After all, what's 0 x 0= ?!

>Because it is impossible to undo 8yrs of damage in 6mos.

Nobody says undo, but how about say make it BETTER not WORSE. Attacking business and spending money on nothing projects was never going to work.

If it wasnt supposed to get better then why did obama tell us that with his new plan unemployment would be around 6-7% now instead of the 8% that they projected?

The economy imploded back in September of 2008. This is the aftermath of that implosion.