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Why won't republicans admit they caused a Great Depression and give Obama time to fix the mess?
Between Jan 20 2001-2009 under Republican's policies and leadership:
Unemployment doubled from 4.2% to 8.2%
National debt doubled from 5.7 trillion to 10.6 trillion
Yearly budget went from a 236 billion surplus to a 1.2 TRILLION deficit (a 1.4 trillion drop)
Dow Jones plunged 25% from to 10,587 to 7949
Gasoline tripled from 1.44 to 4.11 per gallon on July 11, 2008
Losing 700,000 jobs monthly
Economy in total freefall
(Republicans try to confuse people by saying democrats took over in Jan 2007 and started the recession, but they can not name one thing democrats did to hurt the economy. All experts state the housing crisis started in 2006 and all subprime loans had already been made under a republican congress and president)
SOURCES:
BUSH DOUBLED UNEMPLOYMENT FROM 4.2% TO 8.2% -----(Feb 2001-2009)
(Source: US Dept of Labor - Bureau of Labor Statistics-)
(http://data.bls.gov/PDQ/servlet/SurveyOutputServle...
BUSH DOUBLED OUR DEBT FROM 5.7 TRILLION TO 10.6 TRILLION
(Source: US Treasury Dept - Bureau of Public Debt - http://www.treasurydirect.gov/NP/BPDLogin?applicat...
BUSH TURNED A 236 BILLION BUDGET SURPLUS INTO A 1.2 TRILLION DEFICIT (A 1.4 TRILLION DROP)
(Source 1: CBO - Congressional Budget Office - Historical Budget data - Shows the 236 billion surplus in 2000)
(http://cbo.gov/ftpdocs/108xx/doc10871/historicalta...
(Source 2: Congressional Budget Office - Annual budget and economic report and testimony before Congress on Jan 8, 2009) (Declares 1.2 trillion deficit for fiscal year 2009 ---2 weeks before obama takes office)
(http://cbo.gov/ftpdocs/99xx/doc9958/01-08-Outlook_...
(Please note: The fiscal year 2009 started Oct 1, 2008 under president bush. At that time, the 2009 deficit was projected at 600 billion. Then the banking crisis occured in Oct 2008 and bush started a 700 billion TARP bailout program which was added to the 600 billion deficit which left obama with a 1.2 Trillion deficit the day he took office according to the CBO)
BUSH OVERSAW A DOW JONES THAT PLUNGED 25% OVER 8 YEARS
(Source: http://finance.yahoo.com/q/hp?s=^DJI)
GASOLINE TRIPLED UNDER BUSH ENERGY POLICY
(Source: US Dept of Energy- Energy Information Administration) (http://tonto.eia.doe.gov/dnav/pet/hist/LeafHandler...
OBAMA IS DOING A GREAT JOB FIXING THE BUSH DEPRESSION
The dow jones rose 33% in his first year from 7949 to 10,600 on Jan 20, 2010
The job loss rate plunged 97% from 779,000 jobs lost in Jan 2009 to 20,000 jobs lost in Jan 2010
The GDP rate rose to 5.7% in 4th quarter of 2009 - the highest in 6 years
Existing home sales up 27% in 4th quarter of 2009
Jan 2010 Home construction up 2.8% (up 23% since april 09 low)
Jan 2010 Industrial production up 1%
Jan 2010 Retail sales up .5%
The numbers don't lie
21 Answers
- michael bLv 41 decade agoFavorite Answer
Perhaps you are drinking too much of Nancy's koolaid....... Please read our Constitution...... Pay particular attention to Article 1 section's 7 and 8. The president cannot do ANYTHING without the congress!!! The surpluses the liberals rave about during the Clinton admin. are a result of a REPUBLICAN CONGRESS elected in 94' . The Repub's LOST their way, and became Democrap's lite after Bush was elected. Their party core recognized this and that's why they LOST th house and senate in 06'.
As far as your stats are concerned..... lets look at the stats from 07 to 09' when Nancy and co. had control. The majority of the increases you cite above occurred during queen Nancy's reign.
DO NOT BE SURPRISED come this november to see the largest turn over of Politicians in history.
WE THE PEOPLE are fed up with pukes who don't do WHAT THEY ARE TOLD TO DO BY THEIR BOSSES.......
- ?Lv 45 years ago
IMO lets make a comparison I tend to think (D) lean to a socialistic standard with their views on wealthfare taxing the rich how to run your buisness etc. NOw lets take a look at how some socialistic countries have done, we have USSR now thats what you call a depresion Vietnam guess they desearve a little credit, so how can u blame the depression on (r) when history has set a precendent that socialism doesnt work?
- Grela LaTucLv 71 decade ago
Another problem with the debt is that the Afghanistan and Iraqi wars were not included in the figures. So the dept is a lot highter than listed.
And, while the GOP is blaming Obama for a lot of problems, they don't address the fact that the House has passed 290 bills, many sponsered and backed by Republican House members. But those 290 bills are sitting in the Senate and nothing is being done on them because the Republicans in the Senate are filibustering them and not allowing them to be heard.
- Anonymous1 decade ago
Fannie Mae and Freddie Mac are owned by the government. The economy crashed after a housing bubble, collapse, then a bank collapse.
The government now owns 1/4th of the mortgages in the country.
How can two programs started by the Democrats, now own 1/4th of the mortgages in the country, if they were only started to "help the poor" buy homes.
And GDP is bullshit, my family owns a $150,000,000 concrete pipe plant. There has been ZERO. Count that ZERO construction.
Secondly, conservative economist actually predicted the collapse. His name is Peter Schiff. He blames Fannie Mae and Freddie Mac.
So did Ron Paul. He predicted the collapse. He blammed Fannie Mae and Freddie Mac.
Your a tool.
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- ?Lv 71 decade ago
The same number cut and pasted over and over again might not lie but they arent the whole truth either
Like the fact democrats controlled parts of the Bush years
And the fact that the housing bubble and toxic assets started with the Freddie Mac/Frannie Mae controlled by maxine waters and barney frank
So Obama should fix their mess and do it without spending the country into oblivion
- Anonymous1 decade ago
It's been 150 years since the civil war and until recently the Confederate flag flew over some state capitols.
It's going to be a looooong time before your grandchildren read about this in high school and ask WTF were they thinking.
- Anonymous1 decade ago
Just wait: Great Depression V 2.0 brought to you by Barack Hussein Obummer
- coldfuseLv 71 decade ago
Are you going to give us the numbers since Democrats seized control of both houses of Congress, in January of 2007?
Please do not use statistics when you are not equipped to handle them.
- Harley DriveLv 71 decade ago
actually it was cheating fraudulent american businessmen who caused the recession, by lying about their profits, which they didn't have then when the fed put the interest rate up everything came apart, AIG for example hadn't made a cent profit in ten years they got 80billion , madoff hadn't made a cent but most people got their capital back in interest he got life
- Anonymous1 decade ago
So paying billions of tax payers dollars to bail out goldman sachs and the other big banks, so they could pay their execs million dollar bonuses was Bushes fault? It's almost like Obama took the million of dollars that goldman sachs gave, and didn't help poor g-sachs out when they ruined America..