Will the US and the World ever recover from the bush/republican great Recession?

Discussion in 'Soap Box' started by Bob26003, Jan 8, 2011.

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  1. Bob26003

    Bob26003 Well-Known Member

    Since the bush recession began in 06-07 the US has lost over 12,000,000 jobs.

    As of January 2011 we have had 12 straight months of private sector job growth due in large part to stimulus policies from Obama. However these gains are not enough. It was just anounced that in Dec. we created just over 100k jobs. We need to create 150k + jobs just to keep up with population growth. And to boot, most of the jobs created are low wagers thanks to our corporate friends and wall street buddies who now make us compete with third world wages.

    So my question is this: Given the magnitude of the destruction bush and his conservative cronies did to the US and the World economy, will we ever get back to normal?


    The really sad part is: Bush inherited a good economy and a balanced budget. We were on the right fiscal track. Eight years later and our economy is in shambles and we are running the biggest deficits in history and the national debt has EXPLODED thanks to his grotesque tax giveaways to wealthiest 1%.

    Reaganomics is such a BS scheme.................... Eight years of trickle down garbage, let corporations and banks do whatever they want, give em all the tax cuts they want, dont regulate em......... and what do we get in return? A broken economy and huge national debt

    What a joke
  2. Bob26003

    Bob26003 Well-Known Member

    Wow, is this proof that supply side is a load of bs designed to funnel money from the middle to the top?


    Obama Created More Jobs In One Year Than Bush Created In Eight

    This morning, the Labor Department released its employment data for December, showing that the U.S. economy ended the year by adding 113,000 private sector jobs, knocking the unemployment rate down sharply from 9.8 percent to 9.4 percent — its lowest rate since July 2009. The “surprising drop — which was far better than the modest step-down economists had forecast — was the steepest one-month fall since 1998.” October and November’s jobs numbers were also revised upward by almost 80,000 each. Still, 14.5 million Americans remain unemployed, and jobs will have to be created much faster in coming months for the country to pull itself out of the economic doldrums.

    Responding the jobs report, House Minority Leader Nancy Pelosi (D-CA) noted that President Obama and the Democratic Congress have created “more jobs in 2010 than President Bush did over eight years.”

    Indeed, from February 2001, Bush’s first full month in office, through January 2009, his last, the economy added just 1 million jobs. By contrast, in 2010 alone, the economy added at least 1.1 million jobs. This chart, produced by Pelosi’s office, demonstrates the difference between the Bush administration and the Obama administration on jobs:

    As the Wall Street Journal noted in the last month of Bush’s term, the former president had the “worst track record for job creation since the government began keeping records.” And job creation under Bush was anemic long before the recession began. Bush’s supply-side economics “fostered the weakest jobs and income growth in more than six decades,” along with “sluggish business investment and weak gross domestic product growth,” the Center for American Progress’ Joshua Picker explained. “On every major measurement” of income and employment, “the country lost ground during Bush’s two terms,” the National Journal’s Ron Brownstein observed, parsing Census data.

  3. jota1

    jota1 Well-Known Member

    What a biased unfounded opinion, maybe you should post on a politics forum instead.

    The fact is that you could have a clown in the white house and the result would have been the same.

    The white house has ZERO to do with the Federal Reserve. Its been pumping out billions of dollars to prop up the economy and that is what has saved the US. That and China's booming economy and its purchasing of the US debt.

    After the recession of 2008 there could only be one way to go and that is UP. We hit rock bottom and were still not out of the woods.
  4. Bob26003

    Bob26003 Well-Known Member

    sorry dude, but the reason we hit rock bottom was bushs supply side policies. he almost sent us into a depression............. and this is fact.

    when he took office we were in sound financial situation and even projected to run surpluses for years to come. After eight years the economy is tanked and the banks are collapsing and 12 million ppl have lost their jobs................ and you dont think this is a big deal?

    The economy needs demand fromt eh middle and bottom. It is driven on consumption and when you use supply side policies that shift the wealth to the top, then their is not enough money in the rest of the economy (the middle class etc) to keep demand up.

    And yes, under bush, not suprisingly, wealth inequality between the super elites and the rest of us grew to the biggest gap since the twenties........ right before the depression.
    Last edited by a moderator: Jan 9, 2011
  5. johnnysays

    johnnysays Well-Known Member

    Do you blame everything on republicons or rightwingers? I'd hate to have to live with you when bad things happen. Sometimes to solve a problme you have to put yoru political thoughts aside and realize that without doing so progress will be painfully slow.

    The runup in oil prices and 9/11 and the war and whatever the hell else were certainly factors in the declining economy. The knee jerk reaction of both political parties is to always blame bad things on the others. So are you going to blame 9/11 and the war and the oil prices and whatever else on bush and the other conservatives? Come on. Sh** happens. You know as well as I do that anything that's that happens on Obama's watch will be blamed on him. The same deal happened with Bush. I'm not praising him because hell I didn't vote for Bush anyway, but he doesn't deserve the insults and criticisms that go his way near as much as some suggest.

    Maybe I"m wrong about this. Reagan-economics and trickledown theory are shaky. I also feel it's risky to give too much leeway to the best of hte best. I mena, since when were humans selfless and altruistic? Odds are, the rich will keep their wealth because they're trying to preserve their keep. Anyone would. Whether you're at the bottom or hte top you look out for yourself. But we can't always blame the rich for things just because it's convenient to. I like to wait and give it time before making up my mind. Subtle things are easy to miss if we're focusing on the obvious things, know what i mean? You don't have to tell me to worry about what's obvious.
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