Huge defecits, 10% unemployment and economy worse than expected

on the bright side, at least a few people got to buy new cars. this is not really surprising though.



http://news.yahoo.com/s/ap/20090825/ap_on_go_pr_wh/us_obama_economy_5

perhaps they should just asked Ripcitytwo.com, we all knew it was this bad.

 

The Bush Depression continues, wow almost one year down from the GOPs total destruction of the economy.

 

It's Obama's deficit now, and the American people are waking up to this reality. 51% Gallup approval and falling fast for President One-term.

 

What policies did the Bush administration contribute to this? Alot of it was based on the credit crisis, not Bush policies.

 

but he's an icon! people grow weary of hype, smoke and mirrors pretty quickly. this will get ugly

 

Ha. That's a good one! I guess Obama's huge federal bailout had nothing to do with it. That's what Obama and his gang would like us to think anyway.

 

Wait a minute! Someone else posted about the Obama recession being completely turned around by years end.

What gives?

 

?? Didn't anyone else see the economy swiftly going down the toilet as Bush's term in office (mercifully) ended? He went out sporting a swirley for the ages.

To say it's only Obama's deficit is idiotic. The Iraq war and the credit crisis are entirely on Bush. Yes, Obama has spent, but a lot of it (admittedly not all of it) had to be spent because Bush didn't leave the house in good shape.

 

Obama was a Senator. Obama voted to fund the Iraq War and to fund TARP. Saying he wasn't a part of this is laughable. Obama was part of the Dem majority who passed the last two Bush budgets.

 

I dont know how anyone could try and place the blame of the economy squarely on either our former or current president.

 

you mean when the democrats took control of the house and senate?

 

Absolutely false. All credibility of your post was lost.

 

I could have swore it was Barney Frank and his buddies that were pushing mortgages on people that couldn't afford them because it was more "fair" if someone making 30 grand a year could get a 400 thousand dollar house.

 

I don't think it's false. You're probably looking at Clinton's deregulation -- admittedly that played an important role in the mess. But the situation went out of control under Bush and he did nothing to react to it. The housing market was clearly in an out of control bubble under Bush and nothing was done to check it. While derivative securities existed before his presidency, they also went crazy out of control under Bush and he did nothing to check it. Sometimes the line between exuberance and irrational exuberance can be fuzzy, but it crossed the line. Bush did nothing and the system exploded.

 

Lol. So if the republicans had stayed in control none of this would have happened, right?

 

Funding the troops is far different than putting us there in the first place. Iraq was all Bush/Cheney -- honestly, is that notion controversial?

TARP was all about trying to deal with the crisis. It didn't cause the crisis. If the crisis didn't exist, TARP would not have happened.

To be clear, my point isn't to say that Obama is innocent of having a large budget -- it's big and a chunk of it is his doing. My point is that Obama's budget inherited a bunch of messy Bush turds and those turds have a significant impact on the huge budget deficit we have now.

 

not saying that, but you mentioned the sudden turn towards the end of the bush admin...and the main difference was the introduction of a democratic congress.

 

Quiet you, only polarizing posts are allowed in political threads.

 

Swear all you want..how about a link?