- Before Bush -- Dow: January 19, 2001: 10,587.59
- Now ---------- Dow: September 29, 2008: 10,365.45
- Before Bush - NASDAQ: Jan 19, 2001 = 2770.38
- Now --------- NASDAQ: September 29, 2008 = 1983.73
- Before Bush - Dollar exchange with Euro, January 19, 2001: 1.068
- Now --------- Dollar exchange with Euro, September 29, 2008: .695
- Before Bush -- National Debt: $5.727 trillion.
- Now ---------- National Debt: $9.849 trillion
US budget deficit: deficit is annual additions to national debt.
Can you imagine being John McSame (McBush) and having to debate Obama on the economy next week... with people like Phil "deregulator" Gramm, Carly "golden parachute" Fiorina, and Marc "Freddie mac" Davis on his staff?
How about Sarah "I can see Russia" Palin debating Joe Biden with 35 yrs foreign policy experience?
Obama's lead grows again today after polls show most thought he won the debate.
7 comments:
watch out....there were many dems (and friends of Obama) involved in this mess, too. as a partisan, you don't see that.... but others will!
anonymouse:
Yep, the old "you did it too, only worse." It seems that the GOP, who was in control of Congress for most of the period from 1992 till now was totally, TOTALLY, unaware of the structural problems that were being built into the financial system by such visionaries as Phil Gramm.
democommie
Just to set the record straight (not that it matters I'm sure to you) but the GOP did not control Congress until 1994 (before that the House had been controld by the dems for appx. 30 years!). It was Slick Willy who was elected in 1992 and his very popular "tax increase" resulted in Congress for the first time in many, many years being controlled by the GOP. See, the good thing about Obama winning in Nov. is that 1. hillary's done, 2. no more racism in this country and 3. he's a one termer (remember Jimmy Carter) and 4. the House and Senate will be returned to GOP control, so there is always a silver lining!
anonymoron:
Oh, jeez, I'm sorry. So the GOP only controlled the house for 12 of the last 14 years. Yep, that explains how the evil dems wrecked the economy and the valiant reptilicans couldn't a.) see it coming, or 3.) do anything about it.
Right.
democommie
I'd continue to comment if I believed anyone on this liberal blog gave a crap about facts -excellent article today (believe it or not)in that liberal biased NYTimes about the "role" (excused me) "pressure" from the dems to not reign in the "obscene" lending to people who can't afford homes by Fannie Mae. Can anyone say Barney Frank? of Harold Raines (made $90 mil over 6 years while leadign Fannie Mae) or the Community Reinvestment Act, or Bill Clinton. The facts are there but you partisans refuse to see them! don't worry when Obama wins and gets going with his socialist policies you liberals will once again find yourselves in the "wilderness" for a long time -sorry (not) about the biblical reference - I'm sure I've offended someone who views this blog!
As the WSJ said of McCain that you’d find the cause of what when wrong on Wall Street “by cross-examining the people riding on his campaign bus.”
Review your history. It was McCain economic advisor Phil Gramm who in 1999, pushed through a historic banking deregulation bill that decimated Depression-era firewalls between commercial banks, investment banks, insurance companies, and securities firms—setting off a wave of merger mania. This was done by the Republican controlled Congress.
On December 15, 2000, an especially tense time in Washington, when only two days earlier, SCOTUS had handed Bush the presidency, Clinton and the Republican-controlled Congress were locked in a budget showdown. It was Gramm's time to game the system. As Congress and the White House were hurriedly hammering out a $384-billion omnibus spending bill, Gramm slipped in a 262-page measure called the Commodity Futures Modernization Act. Written with the help of financial industry lobbyists and cosponsored by Senator Richard Lugar (R-Ind.), the chairman of the agriculture committee, the measure had been considered dead—even by Gramm. Few lawmakers had either the opportunity or inclination to read the version of the bill Gramm inserted. "Nobody in either chamber had any knowledge of what was going on or what was in it," says a congressional aide familiar with the bill's history.
The act, he declared, would ensure that neither the SEC nor the Commodity Futures Trading Commission (cftc) got into the business of regulating financial products called swaps and would thus "protect financial institutions from overregulation" and "position our financial services industries to be world leaders into the new century."
THIS IS THE CAUSE OF THE PRESENT US ECONOMIC SITUATION. Get it?
Sadly you can't even be honest-most reasonable thinking Americans know it was BOTH parties who are responsible for this mess! But yes keep spewing the Phil Gramm garbage...wow did not know he was that powerful to cause all this! William can you at least be honest and rationale for a change?
Post a Comment