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2009-02-08 Home Front: Politix

Obama says Bush sent economy in tailspin

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Posted by Fred 2009-02-08 00:00|| || Front Page|| [4 views ] Top

#1 Executive summary: massively increasing the nation's debt, nationalizing the nation's economy, and wasting enormous sums on pure pork has never worked before. Lets give it another try!

Posted by DMFD 2009-02-08 00:15|| 2009-02-08 00:15|| Front Page Top

#2 Wonder if whoever gave the Republican response, (as if anyone in the Republican party has the guts to stand up anymore) pointed out that the Democratically controlled house and senate of the last two years caused massive damage in only TWO years.

...doubt it.

Posted by Tyranysaurus Angegum9270 2009-02-08 00:27|| 2009-02-08 00:27|| Front Page Top

#3 Whoa, Sherry! Fastest mod in Texas ...

Posted by Steve White 2009-02-08 02:11|| 2009-02-08 02:11|| Front Page Top

#4 Well, he had a huge hand in it. The market itself works well. It's the players that eff it up. Regulate the players. Just need one simple law: Take advantage of people ==> Lose everything and go to jail. A product should be able to stand on its own two feet, and not depend on the ignorance of those who purchase it. Of course, the line is going to be a gray at times, and even if it isn't the lawyers will redefine gray to suit the defense. But big stuff like ACORN, no-doc loans, ponzi schemes, sham loans, Enron, etc. are no-brainers.

Posted by gorb 2009-02-08 03:15|| 2009-02-08 03:15|| Front Page Top

#5 LETS KNOW WHAT WE ARE TALKING ABUT. THE HOUSING CRISIS STARTED ITH PRESIDENT CLINTON. HE HAS ADMITTED THIS IN MANY INTERVIEWS. WHO IN CONGRESS SUPPORTED, AND IN RETURN WAS SUPPORTED BY, AL THE FREDDY AND FANNY MONIES. OOPS, WHY ITS BARNEY FRANKS AND COMPANY. YES BUSCH MADE MANY MISTAKES AND ADED TO THE PROBLEM. OBAMA DOESNT KNOW WHAT THE WORD CAPITALISM MEANS. IN THE SHORT TIME HE AND THE PELOSI GANG ARE IN OFFICE THEY HAVE DUBLED OUR DEBT,LIED TO THE AMERICAN PEOPLE, AND MADE US THE LAUGHING FOOLS OF THE WORLD. $450,000,000 FOR CODOMS WILL CERTAINLY CREATE MILLIONS OF JOBS. MR. OBAMA SAID HE WOULD CREATE 2,000,000 THENHE SAID 3,000,000 AND NOW ITS OVER 4,000,000. WHAT DO YOU WANT FROM A MAN WHO CAMPAINED IN 57 STATES.HE AND THE PELOI(UNKNOW THE ONE WHO SAYS WE LOSE 500,000,000 JOBS A MONTH) WILL BRING DOWN THIS COUNTRY. WE DO NOT NEED THE STIMULUS, ( MR OBAMA CALLED IT A SPENDING PACKAGE.OOOOOPS)
OUR COUNTRY CAN WORK IT OUT WITH WASHINGTON. DO OT PASS THIS BILL. FINALLY, WHY HASNT ANYONE BEEN CHARGED WITH ALL THE FRAUD. THE HEADS OF THE FINANCIAL INDUSTRY,(CITI,BANK OF AMERICA,AIG,FANNY, FREDDY, COX ETC.) NOW WE HAVE A MAN WHO TOLD ABOUT MADOFF YARS AGO. WHY ARE ANY OF THESE PEOPLE IN JAIL. IT MAY BE HARD TO PROVE CRIMINAL ACTS, BUT VERY EASY THE PROVE VIOLATIONS OF FIDUCIARY RESPONSIBILITY. ANYONE HURT BY THE COMPANIES CAN USE FOR FIDUCIARY CRIMES. CORPOATIONS HAVE OFFICERS LIABILITY INSURANCE FOR THIS REASON. BLESS AMERICAN AND SCREW OUR INCOMPETENT LEADERS

Posted by SPM 2009-02-08 08:21|| 2009-02-08 08:21|| Front Page Top

#6 see the button on the left of your keyboard? "Caps Lock"? Use it

Posted by Frank G 2009-02-08 08:40|| 2009-02-08 08:40|| Front Page Top

#7 The housing crisis started with the creation of the FHA. And don't forget the repeal of Reg Q. This has been a life time in the making, just like its preview, the S & L crisis. Everyone owns it. And I predict now it will happen again in, oh 2090.

Posted by Nimble Spemble 2009-02-08 08:46|| 2009-02-08 08:46|| Front Page Top

#8 The number of unemployed persons (11.6 million) and the unemployment rate (7.6 percent) rose in January. Over the past 12 months, the number of unemployed persons has increased by 4.1 million. The Department of Labor reported today that nonfarm payroll employment fell sharply in January (-598,000) and the unemployment rate rose from 7.2 to 7.6 percent. Payroll employment has declined by 3.6 million since the start of the recession in December 2007, .... most of this mess happening only in past three months! And some wonder Obama is pushing so hard for a stimulus package. The Herbert Hoover approach, do nothing, is all we need, leading us to a twelve year depression ??

Posted by Suggestions4Obama.com">Suggestions4Obama.com 2009-02-08 08:51|| http://www.suggestions4obama.com]">[http://www.suggestions4obama.com] 2009-02-08 08:51|| Front Page Top

#9 Wut? Hell the only sure cure is a nuclear free-for-all.

Let's target Iran first, a couple of SLBMz at the Norks, a couple of snapshots at the Chinks and viola! Propsperity Roosevelt style!

Posted by .5MT 2009-02-08 09:24|| www.cybernations.net]">[www.cybernations.net] 2009-02-08 09:24|| Front Page Top

#10 The Herbert Hoover approach, do nothing, is all we need, leading us to a twelve year depression ??

Ah, the old myth of the Donks.

"Hoover massively expanded government spending and signed into law a horrible protectionist piece of legislation known as Smoot-Hawley. At the same time, he used the bully pulpit to hector businesses into keeping wages and prices high which only made it harder for a puffed-up economy to go through a painful but transitory adjustment."

Ever hear of Hoover Damn [which BTW F.Roosevelt was so petty that during his tenure the name was changed to make sure such a massive public works project would never be tied to his Republican predecessor - the pre-1984 memory hole.]?

Posted by Procopius2k 2009-02-08 09:34|| 2009-02-08 09:34|| Front Page Top

#11 SPM what's with the all caps?...nobody will read it.

Posted by jack salami 2009-02-08 09:45|| 2009-02-08 09:45|| Front Page Top

#12 Correct me if I'm wrong, but wasn't it Einstein who defined insanity as repeatedly trying those ideas which have already been shown to be failures? Just askin'; Congress.

Posted by WolfDog 2009-02-08 09:45|| 2009-02-08 09:45|| Front Page Top

#13 Obama: Blame Bush. Spend our way out of over-spending. More pork, please.

Very shallow. Ignores the lessons of history. Thin-skinned. More to come. I hope we can hang on until 2012.

Posted by Darrell 2009-02-08 09:57|| 2009-02-08 09:57|| Front Page Top

#14 Obama's weekly radio address was a notable example of pure demagoguery.

"devastating news" "alarming" "lost 3.6 million jobs since this recession began"[how many new gained in that period?]

"economic crisis" "national catastrophe" "Millions of Americans will lose their jobs, their homes, and their health care"

Taking 10% out of 1,000B$ of wasteful spending isn't the answer. The answer is to kill the whole thing and do only what is necessary for the next six months. This just borrows from our children to buy things we don't need. 10% is moderate stimulus, 90% is pork.

The 700B$ TARP package was mostly loans with equity received in return. The taxpayers may even make money on it. This package is pure pork, and our money down the rathole.

One trillion. That's over one million dollars a day since Jesus walked the earth. That's $100M spent for each of those "Maine jobs". Thanks, Collins and Snow. They've fallen for the old game of, "Ask for ten times as much as you need, give one tenth back in 'negotiation'."

Posted by KBK 2009-02-08 11:02|| 2009-02-08 11:02|| Front Page Top

#15 They will keep blaming Bush as long as they can. It is the only way they can deflect blame.

Posted by DarthVader 2009-02-08 11:16|| 2009-02-08 11:16|| Front Page Top

#16 One of the small things that consoles me in these troubling times is how good President Bush in going to look in about a year -- or , hell at the rate we're going, may be next week. It's like Mark Twain said:

"When I was a boy of 14, my father was so ignorant I could hardly stand to have the old man around. But when I got to be 21, I was astonished at how much the old man had learned in seven years."

Posted by Matt 2009-02-08 12:01|| 2009-02-08 12:01|| Front Page Top

#17 I'm not sure if it makes sense. Economies go through cycles and recession is part of the cycle. I read the history of cycles at http://www.recessioninfocenter.com

Posted by Angavimble Brown9043 2009-02-08 13:15|| 2009-02-08 13:15|| Front Page Top

#18 Government (specifically democrat programs) are to blame for that trillian dollar air bubble YOU democrats put into our bloodstream.

http://www.publicopiniononline.com/ci_11631591

Posted by newc">newc 2009-02-08 14:10|| 2009-02-08 14:10|| Front Page Top

#19 I also read earlier this week that Commander Zero's administration shut down more oil and gas leases in Utah.

If we're on the edge of a depression, why shut down and contract real productive industries?

Posted by Thing From Snowy Mountain 2009-02-08 15:48|| 2009-02-08 15:48|| Front Page Top

#20 LMAO frank g

Posted by rabid whitetail 2009-02-08 16:05|| 2009-02-08 16:05|| Front Page Top

#21 It was always a delight for the press, when they would throw in, that Bush couldn't read. He did read, voraciously. Even had a contest with Rove, to see who could read the most books in a year.

(As they reported he was dumb, they still reported what books he had with him! I know, that makes no sense.)

Bush won -- and it wasn't fiction he read. The list is impressive and added much, I'm sure, for his respect of the office, and his decisions.

I don't ever remember hearing one press person say or write a word about The One's reading habits, or what he reads. (Of course, his reading was/is probably centered around communism/socialism on what is sure to be a limiting reading list)

I'm thinking he skipped most of the history books, the economic books, and the Making of a President. And, more recently, seemingly has read nothing, even while in the Senate, about the growing problems that Fannie Mae and Fannie Mac were creating, for at least the last seven years.

Posted by: Procopius2k|| 2009-02-07 15:53
As George said farewell to Obama, he handed him three envelopes numbered consecutively 1,2,and 3. George told him to only open each in sequence when the crap hits the fan.

Well, he's opened and used envelope number 1 which read 'blame your predecessor.' How long before he gets around to opening envelope number 2 which will read 'reorganize'?

Oh, number 3 reads 'prepare three envelopes'.
Posted by: Procopius2k|| 2009-02-07 15:53

Posted by Sherry">Sherry 2009-02-08 16:30|| 2009-02-08 16:30|| Front Page Top

#22 The issue is governmetn intervention in the markets (Freddy & Fanny, for Barny Frank, as an example), which caused overspending and bad debt that are what gave us this recession.

And these bozo's on the Obama side of things want us to believe that large scale GOVERNMENT wasteful overpending and borrowing will ead us out of this?

Keynesian-ism nearly killed the nation in 1977. None of the stupid kids supporting Obama remember double digit inflation and double digit unemployment, nor do they remember the hard hard steps Reagan had to take to get us out of that.

Obama, you got the "Misery Index" approaching dobule-digits. Lets see you and your follwoers keep bending over to Nancy Pelosi and the liberals in the House and Senate - you'll sso have both sides of that Misery Index above 10%

Saying "Bush did it" might teach you something - Bush & Congress SPENT a lot and ENLARGED government - and that blew things up. Are you so stupid as to learn nothing from the "Bush mess" upon which you blame things?

Damned fools, you'll destroy the nation.

Posted by OldSpook 2009-02-08 17:04|| 2009-02-08 17:04|| Front Page Top

#23 OS, take heart. As long as folks like you and other Rantburgers exist the nation will never die. This government however may not last the year.

Posted by Hellfish 2009-02-08 18:00|| 2009-02-08 18:00|| Front Page Top

#24 ...threw our economy into a tailspin...

Mmmkay...... In aerodynamics (simplified), a stall (sputtering economy) preceeds a spin.

The spin is caused by inappropriate rudder control (government intervention) at the developed stall.

A "tailspin" is caused by a rearward center of gravity (dead weight feel-good tax-funded government redistribution programs) that prevents the pilot (U.S. of A. Entrepreneurs) from reducing the wing angle of attack to allow spin-thence-stall recovery.

IMHO, the ~~spending~~ stimulus "program" will do little more than push more weight to the rear of our figurative aircraft, and will ultimately (irreparably?) damage the American free-market system's ability to right itself.

Or maybe that's the plan?

Posted by Uncle Phester 2009-02-08 18:37|| 2009-02-08 18:37|| Front Page Top

#25 Let's just say that those in power are not huge fans of the current economic system.

Posted by lotp 2009-02-08 18:46|| 2009-02-08 18:46|| Front Page Top

#26 And maybe they have a point.

Posted by Thrish Bluetooth8556 2009-02-08 21:54|| 2009-02-08 21:54|| Front Page Top

#27 I take it you prefer you Canadian economy? How do you feel about the protectionism that is the knee jerk reaction of Democrats in general and this President in particular?

Posted by lotp 2009-02-08 22:01|| 2009-02-08 22:01|| Front Page Top

#28 I prefer balance in extremes.

I feel that if protectionism will cure your economy, then Canada will benefit anyway because we're joined at the hip any way you look at it.

Posted by Thrish Bluetooth8556 2009-02-08 22:25|| 2009-02-08 22:25|| Front Page Top

#29 Unfortunately, so much of the U.S. economy is based on international trade -- in both directions -- that protectionism will harm considerably more than it helps. Consider, for example, the automobile industry (I do hope Rantburg's many experts in macro and micro economics will provide additions and corrections to the following statements made by this little dilettante housewife). The most successful producers of autos within the continental United States are actually Honda and Toyota, which assemble their vehicles in American factories using American workers and a great many American subcontractors. Or consumer products like laundry detergent and toothpaste, made by American Fortune 500 companies Colgate and Procter & Gamble, which garner a significant portion of their profits from the products they produce in factories around the world using local labour and selling into local markets. Or, God forbid, the computer industry where moves by American companies to outsource production to India and China is being offset by Indian companies outsourcing to Silicon Valley to be closer to their American customers, or so I've heard. When one moves beyond local small businesses, it's terribly difficult to determine which of those companies that do business here should be categorized as domestic, and thus deserving protection, and which as truly foreign, to be protected against. But then it isn't fair to expect President Obama to know such things at this stage of his career, as he's never really had dealings with productive businesses that didn't involve accepting donations or leading shakedowns "for the community". But he has been acclaimed a brilliant law lecturer, so I'm sure he'll figure it out as soon as he starts serious discussions on how to implement his cunning plan.

Posted by trailing wife 2009-02-08 23:15|| 2009-02-08 23:15|| Front Page Top

#30 We need protection from China, that's all.

I have a ~40 year old drill made in Sheffield, England. Still works. The rest of the Chinese made crap crapped out after about a year. One didn't make it past 3 months. But I guess that's what it's all about: a perpetual annuity for big corporations, without which we wouldn't have jobs. So this is what it comes down to: do you want a good drill, or a job?

Posted by Thrish Bluetooth8556 2009-02-08 23:51|| 2009-02-08 23:51|| Front Page Top

23:52 JosephMendiola
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