For once, I would like a GOP president to clean up their own economic mess

Where in god's name do you get this stuff?

In 2007, under the GOP, the U.S. and world economies collapsed because of reckless tax cuts, deregulation of the financial sector, Bush's "ownerships society, and reckless speculation in real estate and mortgage financing. In 2009 Bush handed Obama the first trillion dollar deficit in history. Obama took office on December 20, 2009.

It took a full court press for the Obama team to turn things around to where they were. Most economists, and I agreed, predicted we'd be lucky to come out of this depression in ten years. Obama did it in eight. My god, man, this was world news. Did you somehow miss it? I don't think anyone else did.

 

What piece of legislation did the Dems pass that Bush vetoed?

Here's a hint...nothing.

 

Obama was in Congress in 2008 and voted for the 2009 Budget...with his Dem party that had total control of Congress

The economy didn't collapse until 2008....the Dems had Congress...and had it since 2007...the GOP didn't have Congress in 2007...the Dems did.

 

The economy collapsed in late 2007. My god, do you guys even know what's happening in the world? Do you care?

This has all been explained to Trumpets like a grade school class for backward children but still the RW BS keeps flowing like an endless river of stubborn ignorance.

Why bother. You can cure ignorance, but not stupid.

 

As noted the Dems had Congress in 2007....but in the real world it's called the Great Recession of 2008: https://www.britannica.com/topic/Great-Recession-of-2008-2009-The-1661642

....There were certainly signs in 2007....and the Dems did nothing....in fact there were a number of years of warnings..and the Dems blocked everything: https://georgewbush-whitehouse.archives.gov/news/releases/2008/10/20081009-10.html



Meanwhile Barney and Friends were ignoring reality:

 

Geez where do you get this stuff? The Democrats took control of the Congress and lame ducked Bush January 3 2007 a year before the recession. The job loss rate bottomed out the month Obama moved to the WH and started to quickly recede and the recession ended 5 months later before his stimulus spending even started. In 2008 the Democrats withheld passing a budget for 2009 so they could get a Democrat president so that unlike 2008 where Bush at least held them to a 10% spending increase they increased in 20% which President Obama signed into law. That included that HUGE stimulus spending which by his own stated goals and predictions was an utter failure.

And do explain how the 2001 tax rate cuts cause the global economies to collapse and a recession.

 

did I say that? No.

 

You sure have a funny memory of history. Do you not remember the check GWB sent you in 2008, WITH a Democratic congress?

Second, the housing market topped out in 2006. After this, the actual start of the recession was only a matter of time. I know it is more convenient for you to ignore these fact, so that you can pin the recession on congressional Democrats. Unfortunately, this kind of revisionist history seems to work, since I've seen other posters talk about the "Obama recession".

Third, you also always conveniently forget to mention that GWB kept the costs of his two wars OFF the books, to make his deficit look better. That's one reason why the deficit increased after he was gone, because Obama put the war costs back on the book.

But, keep going on with your revisionist history. if you do, don't wonder why nobody takes you seriously. Multiple posters have pointed out your distortions many times, it seems that you are just not listening.

 

Sad, but true. I was playing bridge and 3 Republicans said the same false narrative and my mouth dropped to the ground.
Obama took office on January 20, 2009.

 

Excellent summary. I had forgotten the Dems refused to pass a budget

 

The spending for the wars on terror were not really "off the books" they were accounted for in the deficit and added to the debt. They were simply not part of the DoD budget.

 

From reality?

 

We're talking about the wars in Iraq and Afghanistan. They were off the books as an "emergency appropriation." Once again, this was common knowledge and the administration admitted the same. In short, wrong again.

I'm sorry but I no longer find your posts of any value.

 

From reality? - Clearly not. Nancy Pelosi becoming Speaker in 2007 had nothing to do with the years of toxic-debt-based bubble-blowing brought about by Republicans' deregulation in years prior.

 

I was thinking that from the first post of his I had read. So many trumpers are just here to be as annoying as they can be. It's like debating evolution vs creation with Kent Hovind.

 

So, you deny that GWB used the emergency appropriation to hide the true cost of the wars from the public? Cause those emergency appropriations were clearly not included in the budget.

 

That’s what I am talking about. It was still impacting the deficit and debt. It just wasn’t in the dod budget

 

Not at all...I am just saying it still impacted the budget and deficit

 

There are ways... but just use your brain. The middle class is more likely to spend their money. And we do know that Corporations didn't use the extra money that Trump Tax Cuts for the rich did not use the extra money to expand.

Sure... I could take the time to look up articles and estimates on the matter (there are several out there). But why bother? It's obvious.

Oh... what an odd question. If people buy more things, then obviously more things need to be produced.

 

you think his is funny?

Both Wars were approved by Congress and FUNDED by Congress.

Bush passed funding in separate appropriations for two reasons:

1. Congress took a clear vote to continue both wars, by funding them specifically.
2. This kept them out of the baseline budgeting, because these are UNusual rather than USUAL expenses.

But, there can be a lot of gimmickery in "deficit" calculation, the way to always get to the truth is use the dailiy to the penny publication of the Federal debt, searchable by date. Every PENNY is reflected there.

https://www.treasurydirect.gov/NP/debt/current

Don't pat yourself too hard, your claim that Bush kept the wars "off the books" is very misleading.

Title: Federal Surplus or Deficit [-]
Series ID: FYFSD
Source: U.S. Office of Management and Budget
Release: Fiscal Year Budget Data (Not a Press Release)
Seasonal Adjustment: Not Seasonally Adjusted
Frequency: Annual, Fiscal Year
Units: Millions of Dollars
Date Range: 1901-06-30 to 2018-09-30
Last Updated: 2019-03-18 11:23 AM CDT
Notes: Dates represent the end of the fiscal year. Fiscal year series are
updated with official OMB figures in January or February. In October,
the latest fiscal year is updated with figures from the Treasury
Department (September figures from the Treasury's fiscal year to date
series).

2001-09-30 128236
2002-09-30 -157758
2003-09-30 -377585
2004-09-30 -412727
2005-09-30 -318346
2006-09-30 -248181
2007-09-30 -160701
2008-09-30 -458553

You are claiming that the expenses of these wars are not reflected in these numbers?

U.S. Office of Management and Budget, Federal Surplus or Deficit [-] [FYFSD], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FYFSD, August 23, 2019.

 

Proven false.

 

Correct. Thanks to that congress, we turned around the worst recession in 80 years that was directly caused by republicans.

 

Actually, I can't really find any details as to whether the cost for the wars was included in the deficit calculations or not. It definitely wasn't included in the budget.

Since it was emergency appropriations, what is the general procedure? I know their use has exploded to hide spending, just from the budget, or the deficit as well? Do you have citations?

 

You know as well as I that recessions are 100% inevitable and that we are currently in the longest period of economic expansion in the modern era. An upcoming recession is overdue and will happen at some point within the next few years if not sooner. This reality is not a function of any particular economic policy, it is merely a function of the economic cycle. If there were a theoretical situation where the "perfect" decisions were always made economically, recessions would still happen with regularity. "Perfect" economic decisions would result in maximized growth rates, NOT an avoidance of recessions.

With that being the case, any upcoming recession would NOT be proof that tax cuts do not work or that they result in huge deficits or economic crashes. Nobody claims that a tax cut will stop recessions from ever happening, yet you seem to be arguing against that premise as if it were the argument for tax cuts. All you are doing is projecting your preconceived economic beliefs and waiting for just the right time to bogusly claim that the normal economic cycle somehow proves your preconceived beliefs. It does no such thing. I am not claiming that you are doing this with malice, rather you are doing it without realizing the undeniable flaw in your logic.

 

Trump did it again. This is surreal.

President Donald Trump appears to have sent the stock market into a dive with a few flicks of his fingers, as the Dow Jones Industrial Average plunged over 200 points in just five minutes following a series of unhinged tweets attacking China and Federal Reserve Chairman Jerome Powell.

At 10:57 Friday morning, Trump posted a tweet in which he asked “who is our bigger enemy, Jay Powell or Chairman Xi?”

Then two minutes later, Trump posted a series of tweets ranting against China in which he said, among other things, that “We don’t need China and, frankly, would be far better off without them,” and that American companies are “hereby ordered to immediately start looking for an alternative to China.”


https://www.mediaite.com/news/stock...5-minutes-after-trumps-stunning-china-tweets/

We are reminded that Putin wanted this man to become our President. No doubt, Putin is quite happy with his choice.