maxiep
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Jimmy Carter did. Stop with the excuses. Also, I think you mean 43, not 41.
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Jimmy Carter did. Stop with the excuses. Also, I think you mean 43, not 41.
MickZagger
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NOT EVEN CLOSE
maxiep
RIP Dr. Jack
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Why was this recession worse? I'm interested in the metrics you think are worse now than then.
maxiep
RIP Dr. Jack
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Unlike others, I'll bother to answer your question. I can give you more figures and more detail, but I figured finding an article was easier for you to digest: http://www.forbes.com/sites/peterferrara/2011/05/05/reaganomics-vs-obamanomics-facts-and-figures/
Also, why would I seek "allies" when stating my own opinion? I'm confident enough in them that I don't mind having a point of view different from others.
3RA1N1AC
00110110 00111001
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not that obama has been good, but to deny that bush and clinton before him piloted this ship into iceberg filled waters is ignorant at best
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reason.com rocks.
http://reason.com/archives/2012/09/05/denialist-democrats
Denialist Democrats
The party of government refuses to even entertain the possibility that we can no longer afford it
...
In this idyllic landscape of Democratic magical thinking, there is no state and local budget crises, no unaffordable and underfunded defined-benefit public pension obligations, nothing at all standing in the way of "investing" in our public safety, except (in ex-Republican Stern's words) "right-wing extremists." Vallejo, California is not bankrupt because of public employee pensions, and the rest of the state is not following suit. It's a hell of a place, this Democrat-land. Wish I could live there.
Last night's speeches were notable less for what they contained and more for what they did not: any engagement with the issue of having a debt load (of $16 trillion) that is now larger than GDP, of having a long-forecasted entitlement time bomb marching northward toward 100 percent of federal spending, of having underfunded obligations in the trillions of dollars promised by politicians addicted to handing out "free" benefits.
...
What makes last night's fiscal denialism even more appalling was that many of the speakers themselves have had to fight tooth and nail with public sector unions over compensation and work rules. Chicago Mayor Rahm Emanuel outraged police and fire unions by tackling pension reform and pointing out that "city government is not an employment agency." Los Angeles Mayor Antonio Villaraigosa, a former labor leader, has called teachers unions an "unwavering roadblock to reform." Newark Mayor Cory Booker has been there as well. Needless to say, such talk was absent from the podium last night.
One of the great ironies of this convention already is that speaker after speaker denounces Republicans for being unable to tell the truth or get their facts straight. Meanwhile, one of the most important truths of modern governance—we are well and truly out of money—sits neglected in the corner. This might be a great way to rally the Democratic base, but it's thin gruel for the majority of Americans who think, correctly, that the nation's finances have spun out of control.
(more at the link)
http://reason.com/archives/2012/09/05/denialist-democrats
Denialist Democrats
The party of government refuses to even entertain the possibility that we can no longer afford it
...
In this idyllic landscape of Democratic magical thinking, there is no state and local budget crises, no unaffordable and underfunded defined-benefit public pension obligations, nothing at all standing in the way of "investing" in our public safety, except (in ex-Republican Stern's words) "right-wing extremists." Vallejo, California is not bankrupt because of public employee pensions, and the rest of the state is not following suit. It's a hell of a place, this Democrat-land. Wish I could live there.
Last night's speeches were notable less for what they contained and more for what they did not: any engagement with the issue of having a debt load (of $16 trillion) that is now larger than GDP, of having a long-forecasted entitlement time bomb marching northward toward 100 percent of federal spending, of having underfunded obligations in the trillions of dollars promised by politicians addicted to handing out "free" benefits.
...
What makes last night's fiscal denialism even more appalling was that many of the speakers themselves have had to fight tooth and nail with public sector unions over compensation and work rules. Chicago Mayor Rahm Emanuel outraged police and fire unions by tackling pension reform and pointing out that "city government is not an employment agency." Los Angeles Mayor Antonio Villaraigosa, a former labor leader, has called teachers unions an "unwavering roadblock to reform." Newark Mayor Cory Booker has been there as well. Needless to say, such talk was absent from the podium last night.
One of the great ironies of this convention already is that speaker after speaker denounces Republicans for being unable to tell the truth or get their facts straight. Meanwhile, one of the most important truths of modern governance—we are well and truly out of money—sits neglected in the corner. This might be a great way to rally the Democratic base, but it's thin gruel for the majority of Americans who think, correctly, that the nation's finances have spun out of control.
(more at the link)
maxiep
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That doesn't mean you step on the gas, however.
EL PRESIDENTE
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well, you have to waste money to make money.
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Warp 9, straight for the sun.
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http://www.hollywoodreporter.com/live-feed/honey-boo-boo-ratings-bill-clinton-tlc-368469
'Honey Boo Boo' and Bill Clinton's DNC Speech Tie in Ratings
After trumping individual cable and network coverage of the Republican National Convention in the key demographic, the TLC series takes its first hit and only ties the night's strongest news coverage (CNN) among adults 18-49.
'Honey Boo Boo' and Bill Clinton's DNC Speech Tie in Ratings
After trumping individual cable and network coverage of the Republican National Convention in the key demographic, the TLC series takes its first hit and only ties the night's strongest news coverage (CNN) among adults 18-49.
William moves the needle
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Pretty bold to march out a 1%er
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Yeah, I think thats one of the bigger reasons why Kerry lost and Romney isn't getting the vast support his party wants.
you're showcasing someone who has loads of money and doesn't know what it's like to struggle.
Romney is the Republican version of John Kerry.
EL PRESIDENTE
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I think the youth vote this time around will be significantly weaker. Going to hurt Obama. Its just more of the same thing.
EL PRESIDENTE
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Yeah. well, he has to give the same speech because he really didn't fix much.
total pandering speech. people are sick of him.
total pandering speech. people are sick of him.
EL PRESIDENTE
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Ben Bernanke will decide the election Sept 12th.
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Romney earned his money. Kerry married his.
maxiep
RIP Dr. Jack
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Wouldn't Bin Laden answer that he's better off, though? According to his belief system, he's in Paradise surrounded by 72 virgins instead of a shithole concrete house in Abbottabad.
jlprk
The ESPN mod is insane.
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You said that Reagan inherited a worse situation than Obama did, I asked why, and you answered
The only mention in that article about what Reagan inherited claims that he inherited a 1969-82 recession. That would put the blame on Nixon. Again blaming Nixon, it says that early in Reagan's term,
This is the best you can do to back up your unprecedented assertion that Reagan inherited bigger economic problems than Obama did? We're not even considering the noneconomic problems, a couple of raging wars.
The only mention in that article about what Reagan inherited claims that he inherited a 1969-82 recession. That would put the blame on Nixon. Again blaming Nixon, it says that early in Reagan's term,
This is the best you can do to back up your unprecedented assertion that Reagan inherited bigger economic problems than Obama did? We're not even considering the noneconomic problems, a couple of raging wars.
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The economy has been fucked ever since we left the gold standard. Even a modest inflation rate means an ever increasing tax on the economy to the point where people need pay raises just to be able to maintain their previous standard of living. The middle class cannot help but diminish over time if anything less than 100% of everyone gets (at least) the required raises to keep up with inflation.
Big govt. compounds this by needing more tax revenue to cover the cost of inflation priced entitlement programs.
Three consecutive presidents - Nixon, Ford, and Carter - all struggled to deal with three key elements of the economy: inflation, interest rates, and unemployment. No matter what the first two (Nixon, Ford) did via govt. policy, they could not control all three. Carter's policies could not control any of the three, and in his own words described his economy as "days of malaise."
By the time Reagan became president, we had double digit inflation (13.5%), double digit interest rates (20%), and unemployment approaching double digits (7.5%, up from 5.6% in 1979). These are the types of numbers you see in a 3rd world nation, not a 1st rate nation like the USA.
To boot, the high interest rates led to numerous bank and S&L failures - to the tune of near $1B in FDIC bailout expenses.
When I was a much younger man, making a $16,000 a year salary and starting a family, we saved up $2500 to use as down payment buy a $50,000 house. This was in 1982 or 1983. When we applied for our mortgage, the interest rate was 18.75%.
In order to keep up with inflation, I'd have to get my employer to give me a 13.5% raise - something that was tough for my employer to do because they were faced with the severity of the bad economy as well (increasing energy prices, debt financing costs, etc.). And even if I did get that 13.5% raise, there were so many tax brackets back then that the 13.5% raise would have bumped me up a tax bracket or two and the increased taxes would make that 13.5% into something much less.
There may not have been any raging "hot" wars, but there was a raging Cold War. The Russians had invaded Afghanistan and were occupying it (Carter boycotted the olympics in 1980 over it). The Iranians held americans hostage in the US Embassy in Tehran.
So what did Reagan inherit?
Recession - check. In fact, a worse recession than the one Obama inherited.
Banking crisis - check.
Rapidly rising unemployment rate - check.
Rapidly rising inflation - check.
Rapidly rising interest rates - check.
Big govt. compounds this by needing more tax revenue to cover the cost of inflation priced entitlement programs.
Three consecutive presidents - Nixon, Ford, and Carter - all struggled to deal with three key elements of the economy: inflation, interest rates, and unemployment. No matter what the first two (Nixon, Ford) did via govt. policy, they could not control all three. Carter's policies could not control any of the three, and in his own words described his economy as "days of malaise."
By the time Reagan became president, we had double digit inflation (13.5%), double digit interest rates (20%), and unemployment approaching double digits (7.5%, up from 5.6% in 1979). These are the types of numbers you see in a 3rd world nation, not a 1st rate nation like the USA.
To boot, the high interest rates led to numerous bank and S&L failures - to the tune of near $1B in FDIC bailout expenses.
When I was a much younger man, making a $16,000 a year salary and starting a family, we saved up $2500 to use as down payment buy a $50,000 house. This was in 1982 or 1983. When we applied for our mortgage, the interest rate was 18.75%.
In order to keep up with inflation, I'd have to get my employer to give me a 13.5% raise - something that was tough for my employer to do because they were faced with the severity of the bad economy as well (increasing energy prices, debt financing costs, etc.). And even if I did get that 13.5% raise, there were so many tax brackets back then that the 13.5% raise would have bumped me up a tax bracket or two and the increased taxes would make that 13.5% into something much less.
There may not have been any raging "hot" wars, but there was a raging Cold War. The Russians had invaded Afghanistan and were occupying it (Carter boycotted the olympics in 1980 over it). The Iranians held americans hostage in the US Embassy in Tehran.
So what did Reagan inherit?
Recession - check. In fact, a worse recession than the one Obama inherited.
Banking crisis - check.
Rapidly rising unemployment rate - check.
Rapidly rising inflation - check.
Rapidly rising interest rates - check.
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[video=youtube;EKux363Dg64]
462 likes / 4,327 dislikes
462 likes / 4,327 dislikes
The_Lillard_King
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