Economy after W vs. Obama

Amadeus said:
The debt is not spending, its what the country owes.
Click to expand...

giphy.gif
 
Cypress said:
Right, I think the rule is if you voted for Dumbya and continued being his cheerleader even as he crashed and burned the economy, then you basically are not allowed to participate on any threads concerning economics. It is outside your pay grade.
Click to expand...

Democrats crashed the economy and no amount of revisionist history will change those facts....

The Bush administration pushed for significantly increased regulation of Fannie Mae and Freddie Mac in 2003, but after two years, the regulations passed the House but died in the Senate.

Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''Representative Melvin L. Watt, Democrat of North Carolina, agreed.
 
NOVA said:
Democrats crashed the economy and no amount of revisionist history will change those facts....

The Bush administration pushed for significantly increased regulation of Fannie Mae and Freddie Mac in 2003, but after two years, the regulations passed the House but died in the Senate.

Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''Representative Melvin L. Watt, Democrat of North Carolina, agreed.
Click to expand...

Well, except that the history is already written & Bush crashed the economy.

I don't think even the Limbaugh crowd tries to blame "Dems."
 
It was the year the neo-liberal economic orthodoxy that ran the world for 30 years suffered a heart attack of epic proportions. Not since 1929 has the financial community witnessed 12 months like it. Lehman Brothers went bankrupt. Merrill Lynch, AIG, Freddie Mac, Fannie Mae, HBOS, Royal Bank of Scotland, Bradford & Bingley, Fortis, Hypo and Alliance & Leicester all came within a whisker of doing so and had to be rescued.
Western leaders, who for years boasted about the self-evident benefits of light-touch regulation, had to sink trillions of dollars to prevent the world bank system collapsing.

Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown

 
I always forget - Congressman Barney Frank wielded infinitely more power than the President of the United States.

2000 - 2008 was really all on him. Probably Iraq & Katrina too, right?

Oh, wait - Katrina was on an unknown local Mayor. Bush was an innocent bystander for everything.
 
People get so caught up in the partisan blame game they miss the actions that occurred. No one discusses the Fed's involvement. No one discusses how the Fed's actions over a couple of decades gave Wall St the confidence they would be bailed out and thus they took more risk which is of course what happened. Just saying Bush, Obama, Trump doesn't address this.
 
cawacko said:
People get so caught up in the partisan blame game they miss the actions that occurred. No one discusses the Fed's involvement. No one discusses how the Fed's actions over a couple of decades gave Wall St the confidence they would be bailed out and thus they took more risk which is of course what happened. Just saying Bush, Obama, Trump doesn't address this.
Click to expand...

The Fed doesn't bail anyone out...Congress does.
 
cawacko said:
People get so caught up in the partisan blame game they miss the actions that occurred. No one discusses the Fed's involvement. No one discusses how the Fed's actions over a couple of decades gave Wall St the confidence they would be bailed out and thus they took more risk which is of course what happened. Just saying Bush, Obama, Trump doesn't address this.
Click to expand...

Presidents are traditionally judged in part by how the economy does on their watch. That may be somewhat unfair given economic cycles, the length of time between implementing a policy & its effect, and factors like the Fed - but it's the way it has always been particularly for Presidents who serve 8 years.

You can bet Trump is going to take credit for every single bit of good news on his watch. He has already claimed to have created double the # of jobs that have actually been created since he took office.

And in some ways, it is fair. The President IS the steward of the economy while in office. For Bush, I give him a lot of the blame for the crash - not all, but a lot. As I have stated, he was one of our most fiscally irresponsible Presidents, and there is no doubt that fiscal irresponsibility has a wide-ranging impact on the economy. Frankly, I think Bush was bored with domestic policy. Prior to 9/11, I remember starting a thread about how Bush seemed generally bored w/ the job; that event really seemed to energize him, and gave him both his finest & worst moments. But even after that, he basically had tunnel vision on Iraq & terrorism. His only real "passion" about the economy showed itself when it came to the tax cuts he implemented, which were irresponsible after an attack like that (imo).
 
Thing1 said:
Presidents are traditionally judged in part by how the economy does on their watch. That may be somewhat unfair given economic cycles, the length of time between implementing a policy & its effect, and factors like the Fed - but it's the way it has always been particularly for Presidents who serve 8 years.

You can bet Trump is going to take credit for every single bit of good news on his watch. He has already claimed to have created double the # of jobs that have actually been created since he took office.

And in some ways, it is fair. The President IS the steward of the economy while in office. For Bush, I give him a lot of the blame for the crash - not all, but a lot. As I have stated, he was one of our most fiscally irresponsible Presidents, and there is no doubt that fiscal irresponsibility has a wide-ranging impact on the economy. Frankly, I think Bush was bored with domestic policy. Prior to 9/11, I remember starting a thread about how Bush seemed generally bored w/ the job; that event really seemed to energize him, and gave him both his finest & worst moments. But even after that, he basically had tunnel vision on Iraq & terrorism. His only real "passion" about the economy showed itself when it came to the tax cuts he implemented, which were irresponsible after an attack like that (imo).
Click to expand...

What would you call a President who doubled our debt ?
 
Thing1 said:
Presidents are traditionally judged in part by how the economy does on their watch. That may be somewhat unfair given economic cycles, the length of time between implementing a policy & its effect, and factors like the Fed - but it's the way it has always been particularly for Presidents who serve 8 years.

You can bet Trump is going to take credit for every single bit of good news on his watch. He has already claimed to have created double the # of jobs that have actually been created since he took office.

And in some ways, it is fair. The President IS the steward of the economy while in office. For Bush, I give him a lot of the blame for the crash - not all, but a lot. As I have stated, he was one of our most fiscally irresponsible Presidents, and there is no doubt that fiscal irresponsibility has a wide-ranging impact on the economy. Frankly, I think Bush was bored with domestic policy. Prior to 9/11, I remember starting a thread about how Bush seemed generally bored w/ the job; that event really seemed to energize him, and gave him both his finest & worst moments. But even after that, he basically had tunnel vision on Iraq & terrorism. His only real "passion" about the economy showed itself when it came to the tax cuts he implemented, which were irresponsible after an attack like that (imo).
Click to expand...

Yes, Presidents get more credit and blame than they deserve on how the economy does. We on this board fancy ourselves better educated and smarter than the average voter so we should be able to speak at a higher level. If a reporter went out on the street and asked people who is Janet Yellen I'd be shocked if half did. I wouldn't be surprised if it was like two or three out of ten.

The gov't pushed for increased home ownership and thus loosened lending standards. The Fed provided the steroids with its easy money and then Wall St had no fear because it knew it would be bailed out and thus took tremendous risk. That's the cause of the crash.
 
cawacko said:
Yes, Presidents get more credit and blame than they deserve on how the economy does. We on this board fancy ourselves better educated and smarter than the average voter so we should be able to speak at a higher level. If a reporter went out on the street and asked people who is Janet Yellen I'd be shocked if half did. I wouldn't be surprised if it was like two or three out of ten.

The gov't pushed for increased home ownership and thus loosened lending standards. The Fed provided the steroids with its easy money and then Wall St had no fear because it knew it would be bailed out and thus took tremendous risk. That's the cause of the crash.
Click to expand...

I'm willing to bet most people on this forum know who Yellen is. Your argument is moot.
 
Thing1 said:
I always forget - Congressman Barney Frank wielded infinitely more power than the President of the United States.

2000 - 2008 was really all on him. Probably Iraq & Katrina too, right?

Oh, wait - Katrina was on an unknown local Mayor. Bush was an innocent bystander for everything.
Click to expand...

I'm surprised you weren't aware of this at the time.....
 
TTQ64, is Janet Yellen and her easy money policy compassionate towards people of color as she claims?
 
You must log in or register to reply here.
Back
Top