Quote:
Originally Posted by TheMercenary
Pelosi and Obama promised us "Millions of Shovel ready jobs", they lied to get their pork barrel spending voted for.
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Considering the near complete meltdown of the American economy, we are now doing quite well. It should have been much worse. And, as Obama warned us when he took office, it will take about ten years to fix this mess.
Hank Paulson told Congressmen of a economic malaise so serious that (according to reporters outside) Congressmen left the room “white faced”. Paulson, et al told eight major bank presidents earlier (on Friday) that they had eight hours to save the American economy. He was not kidding. Eight years of a political agenda was that destructive.
Then we got a new president with economic programs to bluntly avert that meltdown. As a major paper from the American Economists Association noted last year (using studies of some 114 previous recessions in the OECD), this type of recession created by financial and fiscal mismanagement takes about 12 quarters to recover. Compared to two to four quarters for a traditional recession. The created damage by economic mismanagement is traditionally that severe. Economic history says the damage is so severe as to take that long to recover.
But those are numbers. Extremists do not listen to numbers. Profanity justified by a political agenda is what Limbaugh encourages. The fact that eight years of financial fraud was made legal somehow gets forgotten in their rhetoric.
Based upon how serious the recession should have been. Based upon how close we came to a complete economic meltdown - due to eight years of neocon economics including tax cuts for the rich - due to zero growth for 2000 through 2009 . We are damn lucky to still have a working economy. We came that close to a complete 1929 meltdown. Because extremists who ignore facts and who are told to take cheap shots will not admit what their 'welfare to the rich' economics has done to America.
This is the first decade in 70 years that America has seen no growth. The average American income fell 2% in that period. While the richest incomes rose massively. Numbers so large that nobody is quite sure how large. That has only happened once in American history. Just before the 1929 stock market crash. But George Jr neocons are smarter? No wonder profanity and cheap shots are posted. Then others will not notice extremist politics nearly destroyed the entire American economy.
How strange that extremists will ignore this reality that starts:
U.S. economy took a dive in the 2000s, a lost decade for workers
The actual article describing zero American growth during George Jr's tenure is from the Washington Post on 1 Jan 2010:
For most of the past 70 years, the U.S. economy has grown at a steady clip, generating perpetually higher incomes and wealth for American households. But since 2000, the story is starkly different.
The past decade was the worst for the U.S. economy in modern times, a sharp reversal from a long period of prosperity that is leading economists and policymakers to fundamentally rethink the underpinnings of the nation's growth.
Somehow we should believe extremists because this mess was created by their political agenda AND because their spokemen include Sarah Palin?
Thank god we all still have jobs because informed thinkers finally took hold the reins. And did the massive spending necessary to minimize the damage. It should have been as bad as "Mission Accomplished" - another disaster created by the same political agenda.
So what do extremists do? Do they apologize for the neocon economics that nearly destroyed the American economy? First time since WWII that America has seen virtually no growth. So extremist post cheap shots even at Obama.
“Cheap shots in the name of liberty is no vice”. Even Goldwater would not say what extremists believe.