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Originally posted by grumpyolddude
GWB has presided over the most severe reversal in American economics since 1929. And, while he may not have been directly responsible for it, he bears the responsibility of how the government managees the recovery.
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The
big recession presided over by Bush was, by historical standards, minute. The three quarters defining this recession carried growth rates of -0.2%, -0.6%, and -1.3%.
In comparison, the one presided over by his father consisted of two quarters with -3.0% and -2.0%.
Going further back (4Q '81 and 1Q '82), we find drops of -4.9% and -6.4%.
If you look at the next earliest, you find -7.8% and -0.7%.
The next, -3.8%, -1.6%, -4.7%.
The next, -1.9%, -0.7%.
The next, -4.2%, -10.4%
The next, -2.4%, -6.2%, -2.0%
The next, -5.8%, -1.2%
The next mid '47, -0.5%, -0.2%
This is far from the biggest turnaround since 1929.
Quote:
Originally posted by grumpyolddude
He has NOT put more money in the pockets of the ones who spend it to drive the economy. (his tax cuts did NOT help MY family)
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The consumer drives the economy and the consumer has been spending. The wealth gains from the stock market and home values in combination with low interest rates have more than enabled consumers to refinance debt and spend.
Quote:
Originally posted by grumpyolddude
He has NOT promoted the generation of jobs of a quality and pay scale to replace the ones being shipped overseas. (his "booming" economy is NOT helping the citizens who need it most)
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The "outsourcing" pointed to has been going on for decades and will continue. It's the price we pay for moving towards a global economy. The US has gained far more in lower prices due to lower labor costs than it has lost in jobs being shipped overseas.
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Originally posted by grumpyolddude
His energy policy has allowed non-productive brokers to siphon off profits that the local power generators would have been able to invest in upgrading the power grid. (my gas and electric bill soar while large corporate customers get off cheap)
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Again, the nation's energy policy has been formed over many decades. If by energy prices you mean oil, there are many other factors besides brokers to blame. Political turmoil and worker strikes in key oil producing nations are more to blame than any policy you could point to from Bush.
If you'd like to look at the electrical issues of California, the state government’s decision to be ruled by the market is primarily to blame.
Quote:
Originally posted by grumpyolddude
The war that he lied to us about, coupled with his immoral tax cuts, has created the fastest growing deficit in history, and he makes no pretense to having a plan for paying it off. He has saddled the nation with a burden that will drag it down for decades.
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I guess this pretty much tells me where your objections to GWB lie. “Immoral” tax cuts? Please. What’s immoral about them?
Quote:
Originally posted by grumpyolddude
Hmmmmm.... I guess I'm just not a patiot. I'd rather feed, house and protect my children than kill Iraqis and give their oil to the vice-president's buddies.
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Yeah that’s it. If the Iraqis oil is being funneled to Cheney’s buddies, why doesn’t it seem to be showing up in the market and helping you with those exorbitant energy bills?