Can America afford another Texas Republican president?

  • Thread starter Thread starter Guns Guns Guns
  • Start date Start date
G

Guns Guns Guns

Guest
Between June 2007 and November 2008, Americans lost an estimated average of more than a quarter of their collective net worth.

By early November 2008, a broad U.S. stock index the S&P 500, was down 45% from its 2007 high.

Housing prices had dropped 20% from their 2006 peak, with futures markets signaling a 30-35% potential drop.

Total home equity in the United States, which was valued at $13 trillion at its peak in 2006, had dropped to $8.8 trillion by mid-2008 and was still falling in late 2008.

Total retirement assets, Americans' second-largest household asset, dropped by 22%, from $10.3 trillion in 2006 to $8 trillion in mid-2008.

During the same period, savings and investment assets (apart from retirement savings) lost $1.2 trillion and pension assets lost $1.3 trillion.

Taken together, these losses total a staggering $8.3 trillion.

Since peaking in the second quarter of 2007, household wealth is down $14 trillion.

Further, U.S. homeowners had extracted significant equity in their homes in the years leading up to the crisis, which they could no longer do once housing prices collapsed.

Free cash used by consumers from home equity extraction doubled from $627 billion in 2001 to $1,428 billion in 2005 as the housing bubble built, a total of nearly $5 trillion over the period.

U.S. home mortgage debt relative to GDP increased from an average of 46% during the 1990s to 73% during 2008, reaching $10.5 trillion.http://en.wikipedia.org/wiki/Late-2...e-money.cnn.com-93#cite_note-money.cnn.com-93

http://en.wikipedia.org/wiki/Late-2000s_financial_crisis#US_stock_market
 
\\(\(\/)/)// said:
Between June 2007 and November 2008, Americans lost an estimated average of more than a quarter of their collective net worth.

By early November 2008, a broad U.S. stock index the S&P 500, was down 45% from its 2007 high.

Housing prices had dropped 20% from their 2006 peak, with futures markets signaling a 30-35% potential drop.

Total home equity in the United States, which was valued at $13 trillion at its peak in 2006, had dropped to $8.8 trillion by mid-2008 and was still falling in late 2008.

Total retirement assets, Americans' second-largest household asset, dropped by 22%, from $10.3 trillion in 2006 to $8 trillion in mid-2008.

During the same period, savings and investment assets (apart from retirement savings) lost $1.2 trillion and pension assets lost $1.3 trillion.

Taken together, these losses total a staggering $8.3 trillion.

Since peaking in the second quarter of 2007, household wealth is down $14 trillion.

Further, U.S. homeowners had extracted significant equity in their homes in the years leading up to the crisis, which they could no longer do once housing prices collapsed.

Free cash used by consumers from home equity extraction doubled from $627 billion in 2001 to $1,428 billion in 2005 as the housing bubble built, a total of nearly $5 trillion over the period.

U.S. home mortgage debt relative to GDP increased from an average of 46% during the 1990s to 73% during 2008, reaching $10.5 trillion.http://en.wikipedia.org/wiki/Late-2...e-money.cnn.com-93#cite_note-money.cnn.com-93

http://en.wikipedia.org/wiki/Late-2000s_financial_crisis#US_stock_market
Click to expand...

Can America afford another Texas Republican president?

If we look at history we see Rome did survive Nero's rule.
 
Good analogy. Rome also went into decline when cupidity allowed the rich to buy public office and dictate policy.


http://en.wikipedia.org/wiki/Decline_of_the_Roman_Empire


A repeat of the lobbyist-driven Bush era could set the seal on America's decline, and destroy what's left of the middle class.


The very rich lost relatively less in the crisis than the remainder of the population, widening the wealth gap between the economic class at the very top of the demographic pyramid and everyone else beneath them.


Thus the top 1% who owned 34.6% of the nation's wealth in 2007 increased their proportional share to 37.1% by 2009.



Typical American families did not fare as well, nor did those "wealthy-but-not wealthiest" families just beneath the pyramid's top.


The Federal Reserve surveyed 4,000 households between 2007 and 2009, and found that the total wealth of 63 percent of all Americans declined in that period.



http://en.wikipedia.org/wiki/Late-2000s_financial_crisis#US_stock_market
 
While I am no supporter of Perry, I know one thing: we can NOT afford another 4 years of community organizing.
 
Republican spending knows no limits when it comes to going into debt for failed and useless wars.


But it’s another story when it comes to providing federal assistance for victims of Hurricane Irene or other catastrophes we may face in the months ahead.


Nothing has exposed the Republican determination to put people last more than the reaction of the House Republicans’ No. 2 leader, Eric Cantor, to federal aid for those hit by one of the nation’s most costly disasters. He wants those governors, mayors and others in charge of disaster relief to beg for help.


“This is a time, an appropriate instance, where there is a federal government role,” Cantor said. “We will find the money if there is a need for additional monies. But these monies are not unlimited, and what we’ve always said is we offset that which has been already funded.”


Obviously, he means existing programs, ranging from medical aid to unemployment assistance. So for every dollar the storm victims get, subtract money for assistance to victims of a recession caused by his party.


If Cantor has his way, as he usually does, each dollar spent to clean up and rebuild parts of Vermont, New York, North Carolina and other hard-hit states will have to be balanced by cuts to programs targeting the needy.


What can you expect from a party featuring a presidential candidate, Michele Bachmann, who said the hurricane and the recent East Coast earthquake were God’s warning against deficit spending?


Claiming to quote the Lord, Bachmann preached, “He said, ‘Are you going to start listening to me here? The American people are roaring right now ... They know government is on a morbid obesity diet and we’ve got to rein in the spending.’ ” Just joking, she said later.


http://www.citywatchla.com/componen...ght/2198-republicans-put-wars-ahead-of-people
 
funny how the economy started to tank and jobs started dwindling when the dems took control of the house and senate

and yet liberal hacks only blame bush

that is because liberal hacks believe democrats are not responsible for anything, their promises, nothing. only republicans are held accountable, and only republicans promises are meant to be kept.
 
The economic policy of the George W. Bush administration was a combination of tax cuts, expenditures for fighting two wars, and a free-market ideology intended to de-emphasize the role of government in the private sector.




The last two years of his presidency were characterized by the worsening subprime mortgage crisis, which resulted in dramatic government intervention to bail out damaged financial institutions and a weakening economy.



http://en.wikipedia.org/wiki/Economic_policy_of_the_George_W._Bush_administration
 
\\(\(\/)/)// said:
Republican spending knows no limits when it comes to going into debt for failed and useless wars.


But it’s another story when it comes to providing federal assistance for victims of Hurricane Irene or other catastrophes we may face in the months ahead.


Nothing has exposed the Republican determination to put people last more than the reaction of the House Republicans’ No. 2 leader, Eric Cantor, to federal aid for those hit by one of the nation’s most costly disasters. He wants those governors, mayors and others in charge of disaster relief to beg for help.


“This is a time, an appropriate instance, where there is a federal government role,” Cantor said. “We will find the money if there is a need for additional monies. But these monies are not unlimited, and what we’ve always said is we offset that which has been already funded.”


Obviously, he means existing programs, ranging from medical aid to unemployment assistance. So for every dollar the storm victims get, subtract money for assistance to victims of a recession caused by his party.


If Cantor has his way, as he usually does, each dollar spent to clean up and rebuild parts of Vermont, New York, North Carolina and other hard-hit states will have to be balanced by cuts to programs targeting the needy.


What can you expect from a party featuring a presidential candidate, Michele Bachmann, who said the hurricane and the recent East Coast earthquake were God’s warning against deficit spending?


Claiming to quote the Lord, Bachmann preached, “He said, ‘Are you going to start listening to me here? The American people are roaring right now ... They know government is on a morbid obesity diet and we’ve got to rein in the spending.’ ” Just joking, she said later.


http://www.citywatchla.com/componen...ght/2198-republicans-put-wars-ahead-of-people
Click to expand...

can't argue with that. the republican establishment definitely has their priorities all fucked up
 
Yurt said:
funny how the economy started to tank and jobs started dwindling when the dems took control of the house and senate

and yet liberal hacks only blame bush

that is because liberal hacks believe democrats are not responsible for anything, their promises, nothing. only republicans are held accountable, and only republicans promises are meant to be kept.
Click to expand...

Funny....I could of sworn that started happening in 2001.
 
The last year of Bush's second term was dominated by an economic recession.


The National Bureau of Economic Research (NBER) marked December 2007, the month with the highest payroll employment numbers, as the high point of American economic production with output declining from then on to the present.


GDP declined by an annualized -0.5% in the third quarter and -3.8% in the fourth quarter of 2008.


The two consecutive quarters of negative economic growth met the "rule of thumb" definition of a recession, confirming the NBER's declaration of a recession.



http://en.wikipedia.org/wiki/Economic_policy_of_the_George_W._Bush_administration#2008_economic_crisis_and_recession
 
Return of Dune said:
We can't even afford the last governor from Texas.

How could we possibly afford another?
Click to expand...

We cannot. The republicans are perfectly happy to cut jobs to reduce the deficit; however, they are NOT willing to tax millionaires and billionaires. This is unacceptable. A vote for a republican is a vote for the death of the middle class.
 
Vader said:
We cannot. The republicans are perfectly happy to cut jobs to reduce the deficit; however, they are NOT willing to tax millionaires and billionaires. This is unacceptable. A vote for a republican is a vote for the death of the middle class.
Click to expand...

As both a millionaire and billionaire why do you want to tax me more kind Vader? I am good people sir...
 
cawacko said:
As both a millionaire and billionaire why do you want to tax me more kind Vader? I am good people sir...
Click to expand...

If the middle class fails, the USA fails. You, as a millionaire and a billionaire have more disposable income to help rebuild the USA. It should be a price you are willing to pay to keep the USA great. If you don't want a great USA! You better start using some of that money to build a compound to protect yourself and your millions and billions. There are people ready to use a second amendment solution to change what is happening inthe USA.
 
Rana said:
If the middle class fails, the USA fails. You, as a millionaire and a billionaire have more disposable income to help rebuild the USA. It should be a price you are willing to pay to keep the USA great. If you don't want a great USA! You better start using some of that money to build a compound to protect yourself and your millions and billions. There are people ready to use a second amendment solution to change what is happening inthe USA.
Click to expand...

Isn't it obvious the 1% and the Teabag party don't give a shit about anything except personal wealth and the interests of the Koch brothers and their international backers? Haven't we seen this in the way they govern? They've proven over and over they are unwilling to represent anyone but the 1% and their plans are to destroy the economy, eliminate the middle class and somehow blame it on 'socialists'. Their plans are out of the bag, their candidated are weak and their time is just about up.
 
Alias said:
I don't think we can afford 4 more years of Obama.
Click to expand...

Your party has nothing to offer except the same old shit that got us into the mess we're in. Explain to us how this same failed conservative ideology and total support for the 1% over what's best for the middle class is going to win the election. And if they do, how will it make America better by driving the 99% into poverty.
 
You must log in or register to reply here.
Back
Top