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Originally Posted by j8ear
First of all this was meant almost exclusively to flame. Don't start off by lying..............
.........Stop blaming government and especially BUSH for all of YOUR failures. Get a grip, the phoney, crashed and discredited Clinton economy has recovered, all ecomonic indicators point in that direction.
As far as supporting a party destroying a country, I'm here to tell you that we have voted that sack of crap party out of the executive, and legislative branches of governement for that very reason already. Get used to it son, you are supporting a party that wants to DESTROY this country.
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j8ear, this is the first time that I have been unable to ignore you. Your posts are almost always unsubstantiated rants, so I learn nothing from them. Where do you get that misinformation and the 'tude to go with it? Can you back up anything that you posted about the Clinton vs. Bush led economic periods?
These stat comparisons refute your argument. The official start of the last recession was March, 2001. There is no Bush economic recovery, just $2 trillion in additional federal debt, a huge decline in the international exchange rate for the dollar. decline in spending power vs. 38 cent wage increase measured in 1982 dollars, slightly less than 5 percent, vs, huge increases in the cost of housing and commodities such as oil and gold. I used the date Nov. 1, 2000 as the Clinton cut off whenever possible, because after that, the economy was reacting to Bush. The stock market indices are even worse than the numbers presented, because they adjusted upward to reflect the decline in the dollar vs. the euro. The Dow index in current Euro value vs. year 2000 is at 6874 today, vs 10899 on Nov. 1, 2000!
The federal budget is in a crises as far as deficit projections, vs. the surpluses in 98, 99, and 2000, and total employment is up just 3.75 percent
in 55 months, lagging behind the natural increase in the labor force, even after the fiscal stimulus of large tax cuts for those with high incomes, 4 years of artificially low interest rates, and a huge $2 trillion deficit. all stimuli that did not drive the economy at the end of 2000.
Dow 30 Index Nov. 1, 2000: 10899
http://finance.yahoo.com/q/hp?s=%5ED...e=1&f=2000&g=d
Dow 30 Index May 09 ,2005: 10384
Nasdaq Index Nov. 1, 2000: 3289
http://finance.yahoo.com/q/hp?s=%5EI...e=1&f=2000&g=d
Nasdaq Index May 9, 2005: 1979
S&P 500 Index Nov. 1, 2000: 1421
http://finance.yahoo.com/q/hp?s=%5EG...e=1&f=2000&g=d
S&P 500 Index May 8, 2005: 1178
Nov 1, 2000: One Euro cost 0.854 Dollar
http://www.newyorkfed.org/markets/fx...dt2=11/01/2000
http://www.newyorkfed.org/markets/fx...torical/fx.cfm
May 9, 2005:One Euro cost 1.29 Dollars
Nov. 1, 2000: Gold, Troy Ounce 263.70 Dollars
http://www.kitco.com/charts/historicalgold.html
May 9, 2005: Gold, Troy Ounce 426.50 Dollars
Nov. 1, 2000: Silver Ounce 4.75 Dollars
http://www.kitco.com/charts/historicalsilver.html
May 9, 2005: Silver Ounce 7.05 Dollars
Nov. 1, 2000: Crude Oil 34.40 Dollars
http://research.stlouisfed.org/fred2/data/OILPRICE.txt
May 9, 2005: Crude Oil 42.24 Dollars
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http://www.cbsnews.com/stories/2005/...in686839.shtml
$7,782,816,546,352 In Debt
WASHINGTON, April 10, 2005
Without the budget resolution, those proposals face Democratic filibuster and will likely die. Regardless of how it is sliced and diced, we are looking at an annual deficit of $368 billion this year and a 10-year projected deficit on $1.35 trillion, according to the Congressional Budget Office. And none of these numbers include the cost of the continuing military operations in Iraq and Afghanistan.
Newsweek's Robert Samuelson envisions it as an "and economic and political death spiral."
And when one considers how deficit concerns dominated the politics of the 1990s, it is remarkable how sanguine we are faced with the current situation. Remember that giant sucking sound? It has fallen quiet. The first President Bush agreed to a $500 billion deficit reduction plan that required him to raise taxes, breaking a no-tax pledge that may have cost him his presidency. But he may have made it easier for Bill Clinton to go down the same road two years later, in 1993, when he negotiated another $500 billion deal to reduce the deficit over five years. That solidified Clinton's reputation as a good economic steward and may have saved his presidency later.
And in 1994, it was largely over concern about the size of the federal government that allowed the Republicans to take control of Congress. Deficits politics turned to surplus politics, making it easier for George W. Bush to get his record-level tax cuts.
"Four years ago, the Bush administration inherited a projected 10-year budget surplus of $5.6 trillion," says House Minority Whip Steny Hoyer. "Since then, we have run record deficits of more than $400 billion a year, and Congress has been forced to increase the national debt limit three times. Even worse, the administration and Congress have no real plan to rein in deficits and debt. This threatens our investments in issues important to our communities -- on everything from health care to our national security."
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http://www.nber.com/cycles/november2001/
November 26, 2001
This report is also available as a PDF file.
The NBER's Business Cycle Dating Committee has determined that a peak in business activity occurred in the U.S. economy in March 2001. A peak marks the end of an expansion and the beginning of a recession. The determination of a peak date in March is thus a determination that the expansion that began in March 1991 ended in March 2001 and a recession began. The expansion lasted exactly 10 years, the longest in the NBER's chronology
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ftp://ftp.bls.gov/pub/news.release/H....11032000.news
THE EMPLOYMENT SITUATION: OCTOBER 2000
The unemployment rate held at 3.9 percent in October, and total nonfarm
employment rose by 137,000, the Bureau of Labor Statistics of the U.S.
Department of Labor reported today.
Total Employment and the Labor Force (Household Survey Data)
Total employment, at 135.4 million, and the employment-population
ratio, at 64.4 percent, were essentially unchanged in October.
ftp://ftp.bls.gov/pub/news.release/H....04012005.news
Unemployment (Household Survey Data)
Both the number of unemployed persons, 7.7 million, and the unemployment
rate, 5.2 percent, decreased in March. The jobless rate was down from 5.7 per-cent a year earlier.
Total Employment and the Labor Force (Household Survey Data)
Total employment and the employment-population ratio were about unchanged
in March at 140.5 million and 62.4 percent, respectively. The civilian labor
force participation rate was 65.8 percent for the third straight month. (See
table A-1.)
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[quote]
ftp://ftp.bls.gov/pub/news.release/H....11162000.news
Average hourly earnings | Percent
| Oct. | Sept.| Oct. | change
| 1999 | 2000p| 2000p| Oct. 1999 -
| | | | Oct. 2000
Total private:2/ | | | |
Current dollars..........| $13.41 | $13.87 | $13.95 | 4.0
Constant (1982) dollars..| 7.87 | 7.89 | 7.92
ftp://ftp.bls.gov/pub/news.release/H....04202005.news
| Average hourly earnings
|_________________________________________________
| | | |
Industry | | | | Percent
| Mar. | Feb. | Mar. | change:
| 2004 | 2005p | 2005p | Mar. 2004-
| | | | Mar. 2005
_____________________________|___________|___________|___________|_____________
| | | |
Total private:2/ | | | |
Current dollars..........| $15.54 | $15.95 | $15.95 | 2.6
Constant (1982) dollars..| 8.23 | 8.25 | 8.20 | -.4
Your ranting about unions, especially about the autoworkers, is uninformed, and un-American. Industrial workers in first 40 years of the last century paid with limbs and blood so that Americans could enjoy the pay, benefits, holidays, vacations, overtime, workplace safety, and unemployment insurance and pensions that many Americans take for granted today:
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http://www.pbs.org/wgbh/amex/rockefe...ture/sf_8.html
A lot more than 2,000 miles separated the Rockefeller estate from Southern Colorado when on Monday April 20, 1914, the first shot was fired at Ludlow. One of history's most dramatic confrontations between capital and labor — the so-called Ludlow massacre — took place at the mines of the Rockefeller-owned Colorado Fuel and Iron Company (CF&I).
The face-off raged for fourteen hours, during which the miners' tent colony was pelted with machine gun fire and ultimately torched by the state militia. A number of people were killed, among them two women and eleven children who suffocated in a pit they had dug under their tent. The deaths were blamed on John D. Rockefeller Jr. For years, he would struggle to redress the situation - and strengthen the Rockefeller social conscience in the process.
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There was no union to blame this on, the steel workers union formed in 1936.
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http://www.dol.gov/asp/programs/history/chapter5.htm
But there was another side to the problem. Following the stock market crash of 1929, the Hoover Administration urged and many industries and unions adopted work-sharing. For example, the United States Steel Corporation in 1929 had 224,980 full-time employees. The number shrank to 211,055 in 1930, to 53,619 in 1931, to 18,938 in 1932, and to zero on April 1, 1933. All who remained on the payroll on this last date were part time, and they were only half as numerous as those on full time in 1929.
http://www.hfmgv.org/exhibits/fmc/battle.asp The Battle of the Overpass
May 26, 1937
Frankensteen's coat was pulled over his arms. He was then kicked in the head, kidneys, and groin. Witnesses also testified that as he lay on the ground, the attackers ground their heels in his stomach. Reuther was picked up and thrown down repeatedly and was kicked in the face and body. He was then thrown down the steps of the overpass. Merriweather's back was broken, and Dunham was also severely injured. The women too were attacked. Newspapers and magazines published the photographs all over the country and several witnesses testified before the National Labor Relations Board. The NLRB found Ford in violation of the Wagner Act and ordered it to stop interfering with union organization. Henry Ford and the company denied the charges, but the Battle of the Overpass had already become a lasting symbol in the labor struggle.
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