Bush inherited the recession?

[question everything]

Was watching the Judy Woodruff show on CNN (while huffing and puffing on the treadmill) and she had the one who runs the Bush campaign and one sentence was something like how well Bush reacted to the recession that he inherited!!

So this is going to be their line, huh? I hope that our side is ready with clear charts; at a fourth grade level, please, we are talking the Limbaugh crowd of the Me Tarzan You Jane level of comprehension.

[Skittles]

1. How many years has it been now?

that should be the response since they seemingly have to believe it was Clinton's fault.

[trumad]

3. Actually Bush inherited a 200 billion dollar surplus...

and turned it into a half trillion dollar deficit...

[Womblestuffer]

12. He inherited an opposable thumb too but a teeny brain

[Homer12]

2. Republicans don't know HOW to take responsability

for their actions becuase at all points they beleive that the actions they take, no matter how hypocritical to a philosiphy or what they say; In their view they are never ever wrong.

Maybe there was a recession starting, but the Proof that Bush made it even worse with his tax cuts is pretty strong.

[Touchdown]

4. He inherited A recession.

...and a very small and manageable one at that. With his tax giveaways for the rich, he created an entirely new one on top of the one that was already there.

Read Suskind's book. He details the talks O'Neal and Greenspan had, and their retisence to such a massive tax cut. Smaller measures would've brought us out of the recession by August.

[gristy]

5. I think he inherited a bubble which was not sustainable

Sort of the definition of a bubble. Clinton (and to a much greater extent Greenspan) let all the technology hype run away with our economy. A contraction was guaranteed (in hindsite, anyways).

[elsiesummers]

13. If there was no collapse no one would call it a bubble

The idea that the economy was an unsustainable bubble is a Bush promoted idea - an after the fact excuse promoted mostly by wall street. The only notable decline had been Nasdaq.

I do think the business cycle reversed trend. Why? Two reasons: (1)Because of the questionable election. Difficult to have faith in an economy or a country when we aren't sure if the election was legit and a new ruling party. That's when it all started to fall apart.

(2) I think the Bush gang deliberately instigated a slow down beliving they could manage the decline, in order to bring labor pricing power back to the corporations (their fund raising base) and lower labor costs. It was clear that they were talking down the economy, deliberately, from the month prior to the innauguration. They had the bully pulpit at a point when Clinton still held office. Before the innauguration there was a Bush quote in the WSJ - "I'm liquid" - about his investments. Another tell was the hindsight info that Larry Lindsey was invested in REITS and precious metals. They knew what they were about to do to the economy. They took the positive spin away and the media did the rest. The decline did not turn out to be so managable - whoops! Sort of typical of their behavior - huberis - like the theory that Iraq would simply fall in line and welcome the US after the invasion and Iraqi oil would pick up the tab.

[Fescue4u]

18. No. It was a bubble

As an example, when you have a stock like priceline, which only sells airline tickets, have a valuation larger than all the airlines combined..its a bubble.

Repeat that scenerio for another 1,000 stocks, and you have huge bubble.

That said, I do believe that Bush "pricked" the bubble during his campaign by contining poo hooing the economy...with the thought that he could then "save it".

Of course it didnt work out that way and the decline that started in early 2000, became an massive recession that continues through now.

[Yupster]

19. Some of the profits and rosy

outlook which was fueling the stock market surge, was never real. Shady accounting was hiding big problems. That was going to come out regardless of who the president was.

[CityZen-X]

6. Gas Can Policy

Bu$h*t may have inherited a recession but his predecessor didn't give The Lord of the Lies a can full of gas to pour onto the flame!

The only thing this scum of the earth, so called human being ever inherited, was the Presidency of these here Un-United States.

And when anybody on CNN speaks, remember, this is Bu$h*t and this is Shinola! (Know the difference)

[KharmaTrain]

7. The "It's Not That Bad Game"...

Look around, folks...I'm sure you know of someone...unfortunately too many in the first person...who are in worse financial condition today than they were on Jan. 20, 2001. Every day I hear of another person whose lost a job, looking for a new one or another one, hasn't been working in months, lost insurance or health care benefits and so on.

I think this deception by the Rove machine is to make black into white, thus making people think that their trouble is unique to them. They trot out these spinconomists who say how the market is up, more jobs are on the way, yada yada...how people are making money, and there are those that wonder if they're the ones on the outside.

Yep, if you have lots of assets and income, these are the good times, but for the vast majority, it's been one fiscal disaster after another...the deal for the Democrats is to connect the dots from the actions of this regime right into their pocketbooks.

Yep, pull out the 4th grade charts...especially the one showing the surplus into defecit, job creation and overall economic activity over the past 15 years (gotta include Poppy's miserable performance in there)...the evidence is there and never refuted.

[Bandit]

8. The way to answer that is to use Bush*'s own words from October 2000

He said our economy was so strong that we needed to give back some of the money to tax payers and that he would set up a special fund of money just in case some time down the road the economy may slow and even change for the worse. The special fund of money would be a reserve fund to be used only if the economy should ever falter which probably would not happen because of how strong our economy really was. Does no one remember this talking point of Bush*? Which by the way is another of his blatant LIES. He never intended to set up any Reserve Fund. It was his answer to Gore's Lock-box.

[question everything]

15. This is great

Of course, the PUBS claim that most of the deficit is because of the war on terror but even the most conservative sources say that only about half can be attributed to this. Funny, they recalled CA gov Davis for the deficit that was caused by, among other things, Enron and other Bush' buddies in Texas.

I remember shortly after 9/11 and the down spiraling that the airline industry took, there was a forum and the woman who was the economist on Clinton - Laura something - was saying that because we had a surplus we can help the economy.

But, Republicans do not use surplus for the betterment of the public. No, they use it, or deepening the deficit to benefit their cronies.

[Taeger]

9. And invested!!!!

Yes, the president wisely invested the marginally poor economic environment left by his economically successfull predecessor. He carefully cultivated that slump into millions of lost American jobs.

Of course, Bush invested even MORE by cutting taxes on the wealthy ... TWICE!!! That had the added benefit of turning a healthy surplus into a sizeable deficit. Yes, Bush has been wildly successfull in transferring the obligations of wealthy to the poor children of this nation who will be responsible for paying it off.

Way to go Bush!!!!!

[Brian Sweat]

10. The buck zooms by here.

[alcuno]

11. The recession officially ended in December of 2001. Been over for 2 years

They originally said it began in March of 2001, but have been trying to push the date earlier; to December 2000.

They took a mild recession and turned it into a jobloss recovery.

[imax2268]

14. all's I have to say when I hear them say that...

is


BULLSHIT...!

[DebJ]

16. inherited it from the Repub Congress that took over just before him?

[Kitsune]

17. It doesn't matter whether he inherited it or not.

It's the difference between driving a new BMW out of the dealer's lot and wrapping it around a tree within a mile, or driving a jalopy you bought for $38 at a yard sale into a lake.

Either way, the car is still fucked.