The recession ended by itself by June 2009. The banking system was back stopped by TARP, enacted in the Bush administration, paid back in the Obama administration.
Of course they didn't. Inflation creates wonderful things, don't you think? http://www.forbes.com/2009/11/19/re...-care-opinions-columnists-bruce-bartlett.html
Obama was handed a 1.4 Trillion dollar deficit. In the first year when he had a say (Oct 2009-Oct 2010 Budget) what did you think he should have done ? Cut the deficit to zero the first year ! What do you think should have been done ?
It is hilarious these hypocrites who claim Bush was not responsible for the spending disaster on his watch because the Dems held congress for the last couple of years during his term.... but then turn around and blame Obama for spending that 1) he did not create to begin with (opposed to Bush who walked into the first balanced budget in decades) and 2) has never held a majority in Congress.
I guess the *******s forgot to be consistent... AGAIN. Those damned obstructionist conservatives might be worth something after all - an opportunity to take credit for something they didn't have anything to do with. And that's a Fraudocrat specialty.
its funny how Conservatives are soo sad that the deficit has been cut by 40% under Obama in one year. and no, most of this reduction is NOT due to the $85 billion Sequester, as the reduction is hundreds of billions of dollars.
Spending reductions are an anathema to Democrats unless it's in the area of Defense. But even then, any money saved by that or whatever other means is merely reapplied to some other new and improved (but NOT) social engineering project.
Democrats want it both ways. They acknowledge that if it were up to them and Obama, he would be spending much more than he currently is, yet that doesn't stop them from giving him credit for deficit reduction when he is prevented from spending more. Unbelievable.
I think they will credit tax increases. Spend whatever - if we can jack up taxes enough to somewhat cover our asses, then fine. If not, then still fine.
FINGER POINTERS don't have a clue how anything is run. Just 1 side good/other side bad. The 2 posts above this is classic finger pointing. Doesn't get any better.
How much in actual dollars was cut in the sequester versus the deficit reduction. Oh, and please show your work. BTW, if the Tea Party actually MATTERED....we'd have President Romney and a GOP Senate. We don't. again
It did not end itself. Most economists disagree with your take. Only the most right wing ones would agree.
revenue has not returned to where it would have been had the Great Recession not occured. we are still hundreds of billions below where we should be.
k..... Obama says its really really really bad... President Barack Obama gave a stark warning to a shipyard crowd in Newport News, Va., telling them that the coming cuts known as the sequester are a "dumb way to do things." "This work, along with hundreds of thousands of jobs, are currently in jeopardy because of politics in Washington," Obama said. The cuts, which will total $1.2 trillion over a 10-year period, are set to begin kicking in on Friday. Obama's speech in Newport News comes in an area that will be disproportionately affected by the defense cuts of the sequester. but it was all his idea..... White House Admits (Third Time) President Obama Fibbed On Sequester Is the press corps getting some guts? Are they finally prepared to challenge the President’s untruthful assertions on facts that are crucial to understanding policy? None other than NBC’s David Gregory today pressed Obama’s chief economic advisor, Gene Sperling, whether his boss told the truth in the third presidential debate that “the sequester is not something that I’ve proposed. It is something that Congress has proposed.” Sperling finally wilted under the pressure of tough questioning to admit that “yes, in fact, the sequestration was President Obama’s plan.” Of course, these clear admissions that Obama parented the sequester are being furiously spun (The Republicans made him do it), but the words are not subject to misinterpretation. So it is true. Obama is fighting against his own program, while blaming his opponents! It can’t be clearer than that.
Which they shouldn't. Hell, even Keynes wasn't foolish enough to believe it would help balance a budget of this magnitude. .
It's rotten news, and the republicans were crying just as much about the defense cuts that came with the sequester. Austerity measures while your economy is still on shaky ground only leads to disaster. Europe is clear evidence of that.
and europe and America wouldnt have any of these problems if idiots didnt spend money they do not have..... and obama and pals want to spend more money, they do not have..... Republicans rip Obama proposal to trade tax cut for more stimulus Read more: http://www.foxnews.com/politics/2013/07/31/obama-proposes-grand-bargain-for-jobs/#ixzz2bsrjT7aI
On that point we both agree. Where we likely part ways is how to balance the budget. I believe that the rash of tax cuts in both nations led to much of the current deficit. Like cutting taxes while leading two wars? That was pretty moronic. And I think Obama is an idiot to cut taxes more, while boosting spending on stimulus at this point. We have a group of people in this country who are living quite well, are not suffering and should pay more than they currently do, that ultra rich sect that pays 15% or less of their income in taxes since much of it gets classified as capital gains from stock trades/income. or at least eliminate some of the loopholes they enjoy.
