Republican "Mission Accomplished" on the Economy - hurtling towards recession
Welp, the Republicans achieved another dubious "Mission Accomplished" this week - the economy is hurtling towards recession. Let's remember how the economy looked just 8 short years ago:
- Bill Clinton had submitted a budget with a record second-year surplus:
- Economists were worried about paying down the national debt to $0!
President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.
- $4 gas in Hawaii
- $100/bbl. Oil
- $2 Trillion to be spent in Iraq
- $Unknown Billions to be lost in mortgages and housing
- Home ownership falls to 2001 levels
Bush and Cheney tried to talk down the economy just before the 2000 elections - now we're getting a little view of how Karma works within our universe. And we're also seeing how a Harvard C-student with a snappy slogan can ruin the economy with unchecked bad policies, a slew of greedy cronies and family members, and a devil-may-care attitude towards the middle class.
Happy George Bush/Iraq/John McCain Recession - courtesy of our Republican leaders!
Labels: 2008 elections, George Bush, Iraq War Recession


1 Comments:
It is easily lost in the details because of the budget surpluses generated in the late 1990s and 2000 as a result of the temporary economy of the dot-com boom and the historic cuts in defense spending, but let's recall that unemploymnet began to increase in April 2000 (following the decline in the stock market) and the economy was in recession by March 2001. If you study the economy and budget surpluses of the Clinton years, you will see it was a temporary phenomenon.
http://www.youtube.com/watch?v=nFnAcX99yYw
http://www.youtube.com/watch?v=zEuf00uZwz4
There is much deception on what has occurred.
http://www.youtube.com/watch?v=9X9qQ6Xuekg
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