Are the Cater days here again?
No, this is not Obama's fault...and really nothing is going to change this right now.
Life is life, reality is hard.
Oil prices started it, loans to people who didn't deserve them kept it going...
The govt is not going to fix it this time...and it shouldn't.
This needs to and is going to play out...
Friday, November 07, 2008
Jobless rate bolts to 14-year high of 6.5 percent
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4 comments:
I'm sorry, but you are mistaken. What started it was the passage of the Commodity Futures Modernization Act, pushed thru the Senate by Phil Gramm the last day before they recessed for Christmas and signed by Bill Clinton.
Then, record low (actually negative when adjusted for inflation) interest rates set to hide the detrimental effects on our economy of massive tax cuts during a time that government spending was exploding pushed us further along towards the outcomes we are seeing today.
And yes, government should "fix" this. It was government inaction that allowed it to happen.
The last 8 years have been an experiment to test the effects of Republican economic philosophy. The results of that experiment are in, and they are conclusive.
-Setting taxes too low is just as bad for the economy as setting them too high
-Unregulated markets are not stable
-Unregulated markets will redistribute wealth upwards
Your economic philosophy is bankrupt. Of course, any observer already knows this. Democratic administrations produce GREATER and MORE EQUITABLE economic growth than Republicans, as I noted in another thread.
realism- in fairness I must note that Clinton gladly signed this. Another reason I am not happy with Rahm, he was a part of all this too.
Other than that your examination is pretty darned accurated as far as I can see...It is the republican wet dream and they have awakened to soiled sheets.
What a load of crock, your last to posters has put forth.
Ask any country in the friggin' world. Would a high unemployment rate of 6.5% in the last 14 years be acceptable, and listen.
Some people have no clue!
Jeez, you'd think some have no sense of history.
You obviously have no idea what you are talking about.
Our "unemployment numbers" are so fudged that they are practically meaningless except for comparison from month to month. Just because the unemployment rate is 6.5% (a 14 year hight) doesn't mean that only 6.5% of Americans are unemployed. That number doesn't include involuntary part time workers, people who have given up looking for work, forced early retirements, homemakers that would like to work, etc.
You deserve to be roundly mocked for trying to claim that the economy 'isn't that bad'. Even some hard-core Republicans aren't that stupid.
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