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By Reagan's fourth year, mid 80s, his recession recovery rates were as high as 7, 8 and 10 percent, boom years with lower across the board taxes, business expansion and full employment. Yes, big spender but necessary (mostly defense from Carter cuts). but at least with Reagan's spending there were positive results with full employment and economic growth. With Obama? ALL stats in dumper and all signs indicate it will stat that way - GDP, GDP/Debt ratio, 16 trillion debt, 8 percent unemployment. None of those stats are getting any better. Good stock market (I own some), but market in reality reflects global as well as national climate. Thoughts?
Vote - what recession took a decade or more to recover? Does not exist. But, the problem IS, Obama is doing NOTHING to increase business, nor, reduce the debt - JUST THE OPPOSITE! If you expect any SS in your future and this irresponsibly continues, you are looking at cents on the SS dollar if that. Thin I'm nuts - stick around!
Charles - Bush tries to warn Frank about the coming housing crises, new-york new-york TIMES. Frank continued to say "NO PROBLEM!" I do blame Bush for not going directly to the American people with the comping housing crises, but at the time he was deeply involved with another issue! History will be kind to Bush re this.
When the rate of inflation is factored in, there is no growth at all, it is only the dollar being devalued with all the borrowing. Just like Reagan did.
2.2% economic growth minus the population growth over the same time 1% and real growth is 1.2% Good Stock Market...not really. Check the value of those dollars to gold. Gold being a stable, non-inflationary currency Check the rate it has gone up and it will show you the de-valuation of the dollar. Companies on the Stock-market Boards are bought and sold internationally. there is no increase in true value...just the number of Dollars it takes to buy the stock. 2007---$750 to 2012-- $1625 has stock done as well....? Simple check to the value of gold and is it stable. 1860 a $25 gold piece (1 oz) one could buy the best handgun to date--Colt 45 2012 1 once of gold will buy the best handgun to date---Kimber 1911 45apc the buying power of gold has not changes but the ability of the dollar to buy the same value has.
The issue is more complicated than it was in the 80s as 1. today, more of our economy is based on international trading. Many of our worlwide partners are facing huge economic crisis which is making trading very difficult. Some countries are experiencing unemployment rates of 40-50%. 2. our national debt is skyrocketting due to unethical practices in the financial market in addition to having to pay for two overseas wars - one of which was to be self-financed upon the seizure of oil fields. However if you remember the 80s these were also times of massive homelessness in the major cities. We were affected in brutal ways if we lived in urbans areas as funding for veterans, emtionally handicapped and others were cut in order to satisfy the budget.
Sure beats Dumbya's last year, you know when the economy crashed. Ronnie was also allowed to raise taxes 11 times. Just saying.
Wasnt it under Reagan that national debt rose dramatically? And was it not under Bush that it rose dramatically again? Now the USA has so much debt that your childrens children will only have scratched the surface. Some recovery!
When you don't count the real inflation Factors like Food and Fuel Costs you get a false number to spout... Obama and Washington new-york knows if they Lie to Americans some will carry their Puke Pails till they starve to death... Yup... I know... That is the Pinnacle of Idiocy... But here we are... §† FNS †§ noʎǝʌɐןsuǝןןıʍsǝıן ǝǝɹɟnoʎʇǝsןןıʍɥʇnɹʇǝɥʇ
O b u m m o the magnificent has proven beyond a contested doubt. He is a complete L O S E R.
Reagan wasn't taking over the worst Recession since the Depression of the 1930s. Maybe call your GOP House reps and ask them what are they doing to help the situation...
Reagan tripled the national debt and raised taxes 11 times. History shows us that deep recessions, like the one GW and Republicans gave us in 2008, take a decade or more to heal from. It’s just the way it is. AND...where do you think the vast majority of our spending goes? GW’s credit card. Obama, 2012 - keep an adult in the White House
So, tell us, what would McCain have done that would have made the recovery better? because, as I recall, he wanted to continue 'business as usual' for the USA