The Mudcat Café TM
Thread #115883 Message #2858717
Posted By: Bobert
07-Mar-10 - 08:07 PM
Thread Name: BS: Popular Views: the Obama Administration
Subject: RE: BS: Popular Views: the Obama Administration
The thing that I find rather unbelievable is that anyone would be putting forth a defense of the Bush economic policies by arguing that when Bush turned the country over to Obama that the economy was collapsing??? This is a rediculous argument... Face it, these policies of Bush were a failure... The two tax cuts were irresponsible... They didn't create the jobs that Bush & Co. said that they would...
(But, Boberdz... The unemployement rate was only 5% or less for most of those years...)
Yes, it was... But lets take the wrapper off those figures and see what was really happening... The US was borrowing lots of $$$ from China to build what??? Infastructure??? Factories??? Nah, about all that got built with that borrowed money were houses... And the money that was lent to folks to by them was also borrowed... I reckon that is why the 00s is being called the "lost decade"...
But the US oughtta know all about "lost decades" when it comes to the economy... The 80's was the same... Lots of huffin' 'n puffin' by Repubs about tax and spend Dem but out-of-control spending and not-paying-the-bills by Reagan... And at the end of Reagan's administartion??? A housing bubble and another collapsing economy...
Ya'll see... There is a pattern here... The Repub talk the talk but won't walk the walk when it comes to fiscal responsibility... I saw a chart recently of the deficits during the last 30 or so years and it's amazing how the deficits are much higher under Repub administartions than undewr Dems.... Seems that Dems constantly have to come in an restore fiscal discipline fater yet another drunken-sailor spending spree of yet another Repb... Carter cleaned up after Nixon and Ford... Clinton cleaned up after Reagan and Bush I and now...
... looks as if Obama is gonna have to clean up after Bush II...
But, hey??? According to Sawz the economy didn't completely collapse under Bush II... I guess that is what he is arguing... I donno, If I were Sawz I'd just pick another issue to debate 'cause this one is a losin' one for his side...