And you thought that Obama inherited a bad economy

[Mornac]

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..when all along he really just inherited a “run of bad luck”:


August 16, 2011

Obama: I Reversed Recession Until 'Bad Luck' Hit

By Byron York, Washington Examiner

At a town hall meeting on his campaign-style tour of the Midwest, President Obama claimed that his economic program "reversed the recession" until recovery was frustrated by events overseas.  And then, Obama said, with the economy in an increasingly precarious position, the recovery suffered another blow when Republicans pressed the White House for federal spending cuts in exchange for an increase in the national debt limit, resulting in a deal Obama called a "debacle."

"We had reversed the recession, avoided a depression, gotten the economy moving again," Obama told a crowd in Decorah, Iowa.  "But over the last six months we've had a run of bad luck."  Obama listed three events overseas -- the Arab Spring uprisings, the tsunami in Japan, and the European debt crises -- which set the economy back.


http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/obama-i-reversed-recession-until-bad-luck-hit#ixzz1VD4QG6dk

[ivanm]

How did the Arab Spring uprisings set our economy back? Or should I ask why?  It doesn't take a mental giant to see that the Libyan effort is costing us big bucks, money we must borrow.

[Mornac]

When it comes to war, money is no object for hawk boy.

[makesenseplease]

Here is a sign that the economy is picking up:

http://www.freerepublic.com/focus/f-news/2764082/posts

[Sassy]

..when all along he really just inherited a “run of bad luck”:


August 16, 2011

Obama: I Reversed Recession Until 'Bad Luck' Hit

By Byron York, Washington Examiner

At a town hall meeting on his campaign-style tour of the Midwest, President Obama claimed that his economic program "reversed the recession" until recovery was frustrated by events overseas.  And then, Obama said, with the economy in an increasingly precarious position, the recovery suffered another blow when Republicans pressed the White House for federal spending cuts in exchange for an increase in the national debt limit, resulting in a deal Obama called a "debacle."

"We had reversed the recession, avoided a depression, gotten the economy moving again," Obama told a crowd in Decorah, Iowa.  "But over the last six months we've had a run of bad luck."  Obama listed three events overseas -- the Arab Spring uprisings, the tsunami in Japan, and the European debt crises -- which set the economy back.


http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/obama-i-reversed-recession-until-bad-luck-hit#ixzz1VD4QG6dk

"over the last 6 months"?  Don't make me laugh.

In April 2009 jobless claims hit damn near 700,000, home prices fell, in 20 a record 19%, 2 million jobs were lost by April, foreclosures were up by 24%, GM cut 21,000...In May the dollar hit a record low followed by the biggest drop against the Euro, in June, over 500,000 jobs were lost, Bernanke's warning about the deficit went unheeded, by July we had bank closures that topped 1992, Biden admitted they had "misread how bad the economy was, foreclosures soared again, and they also set a new record in Aug, commercial property fell 17%, by the end of Aug 84 banks had been closed, 300,000 jobs were cut, bank failures coat $100 BILLION, and that's just through August.  Shall we finish the year or move onto 2010?  ALL of which has lead us to where we are today.

What is the anyhow..."Obama said it. I believe it. That settles it." article?

This is not an "anti-Obama" rant.  This is a "it's time for people to wake the fuck up" rant.

[IM2]

The amnesia here is serioously strong.

Obama inherited a record setting mess, this is the reality that most here must face. Its so easy for republicans to blame everything on someone else because republicans beleive they are never wrong. They blamed BIll Clinton for a  recession that never happened when it was first shown that Bush economic policy sucked ass. Now its Obamas fault, when in reality it was the fault of the republicans in congress and GW Bush from 2000 unitl 2006.

I think it's time some people woke the fuck up and stopped lying to themselves about why things are as they are.

[Sassy]

Obama DID "inherit a mess". I haven't seen any denial of that.

The problem is he continued down the same path setting records, every step of the way.  NOW...He has ownership of it.  And, at this rate, it's going to show up in the vote.

[Pepsi]

How did the Arab Spring uprisings set our economy back? Or should I ask why?  It doesn't take a mental giant to see that the Libyan effort is costing us big bucks, money we must borrow.

It drove up the price of oil.  Naturally higher energy prices are a drag on the economy.

[foodserver]

Pepsi says,

Naturally higher energy prices are a drag on the economy.

Can we assume that such would be the case, even if the higher prices were caused by higher regulatory costs and/or taxation?  (insert innocent expression smiley face)

[IM2]

Sassy,

Obama DID "inherit a mess". I haven't seen any denial of that.

The problem is he continued down the same path setting records, every step of the way.  NOW...He has ownership of it.  And, at this rate, it's going to show up in the vote.

We have one instance of the economy being in this bad of shape. We have one recorded method of bringing us out of this kind of economic problem. So Obama implemented what was successful then, which was a short term boost in spending. The republicans knew this would work, so they created fear, and panic due to their focus on the spending, when we shold have been payhing attention to why the spending was being proposed and the reccomendations of economic experts who said that this is nothte time to cut, or reduce spending. Instead many of you listened to John Boehner and Eric Cantor.

So while Obama was trying to save the economy republicans decided that no money should be spent and things would recover, which is incorrect according to economic experts, hence the stimulous presented was not enough to get the jobs done. Republcians were banking on a collapse of the ecnomic system in order to get Obama voted out and to regain power. They would rather you and I suffer, go broke, or lose our homes and jobs, so they could have power in Washington D.C.

Ignoring why Obama spent is just as bad as the amnesia republicans  are using to fool the people into voting them into power again. Also understand that if republicans had been willing to work in order to produce a decent bi partisan plan we would not be here either. Instead they wanted to force people into their way only. A way that has been shown to not work. A way we have tried and tried again and it produces the same results. no jobs, record deficits and debt, and a widening of he wealth gap among our citizens.

So then whats going to be reflected at the polls is a republican defeat of large proportions. The republican nominee will not win the presidency. All unbiased polling data shows Obama beating all of the republicans running. All unbiased data shows that republican approval ratings are lower than everyone elses. So I would not be so quick to report the demise of Obama based upon a political party trying to fool others into thinking that what Obama has done has not worked, when in fact we never really got to try what Obama wanted to do.

This is because some of us got tricked into a panic by republicans who knew they could frighten the average american by claiming Obama is setting record deficits when in fact the deficits were rising before he took the oath.

[foodserver]

IM2 says,

Also understand that if republicans had been willing to work in order to produce a decent bi partisan plan we would not be here either.

   Always good to hear IM2 admit how much we need the Republican's help in order to solve our problems. 

[IM2]

Foodserver,

Not admitting we needed anything but a decent group of people who were willing to work towards helping the people who voted them in, and not to oppose everything hoping for a crash that would have doomed millions of those they were voted to serve in order to gain power.

[foodserver]

Foodserver,

Not admitting we needed anything but a decent group of people who were willing to work towards helping the people who voted them in, and not to oppose everything hoping for a crash that would have doomed millions of those they were voted to serve in order to gain power.

Bloodhound gang - The roof is on fire	Small | Large

[Sassy]

This is because some of us got tricked into a panic by republicans who knew they could frighten the average american by claiming Obama is setting record deficits when in fact the deficits were rising before he took the oath.

Yes "deficits WERE rising BEFORE he took office".  And what have they done since?  Obama is not responsible for what happened on the watch of someone else.  He IS responsible for what has, and is, happening on HIS watch...And it is not pretty.

[ivanm]

"Running On Empty"

Amen on that one.  hee. hee.  Wonder Boy couldn't find his ass with both hands.