Lets just surrender to the Republicans

[edthecynic]

increased umemployment and no economic activity is an improvement?

That's what it was called when St Ronnie gave us 10 consecutive months of double digit UE in 1982 and 1983, peaking at 10.8% more than a year after his 1981 "job creating" tax cut.

You are of course forgetting to add that we were coming off of 10% inflation and 12% interest rates. Obama inherited close to zero inflation and close to zero interest rates.
You did forget that, right? It wasn't that you intentionally left it out because of hackery.

I'm not forgetting anything, the posted brought up UE so I replied to UE.

In your case, YOU are forgetting that the inflation was due to FED chairman Arthur Burns pumping up the money supply to get Nixon reelected and it was Carter's FED chairman Paul Volker who fixed it. Reagan inherited Volker.

 

[The Rabbi]

That's what it was called when St Ronnie gave us 10 consecutive months of double digit UE in 1982 and 1983, peaking at 10.8% more than a year after his 1981 "job creating" tax cut.

You are of course forgetting to add that we were coming off of 10% inflation and 12% interest rates. Obama inherited close to zero inflation and close to zero interest rates.
You did forget that, right? It wasn't that you intentionally left it out because of hackery.

I'm not forgetting anything, the posted brought up UE so I replied to UE.

In your case, YOU are forgetting that the inflation was due to FED chairman Arthur Burns pumping up the money supply to get Nixon reelected and it was Carter's FED chairman Paul Volker who fixed it. Reagan inherited Volker.

Wow, talk about selective memory.
The issue started with LBJ wanting to finance both the Vietnam War andf the War on Poverty. It continued with Nixon and was exacerbated by the oil boycott in '73. Ford's solution was to send out WIN buttons. Carter's solution was to do nothing. Volker did not raise rates to where they needed to be under Carter. He did do so under Reagan, who was a strong anti-inflation fighter. Yes, unemployment resulted from that, but it had been growing all along. Remember "stagflation"?
So Reagan inherited about 20 years of bad policy and took strong steps to correct it. Of course there was going to be dislocation. But in two years the economy was back on track and we had the largest peace time prosperity since WW2.
Obama has inherited nothing liek Reagan did. His policies have made the economy worse, not better and will continue to do so.
The comparison is odious.

 

[blastoff]

Um, okay but we don't take prisoners.

 

[edthecynic]

You are of course forgetting to add that we were coming off of 10% inflation and 12% interest rates. Obama inherited close to zero inflation and close to zero interest rates.
You did forget that, right? It wasn't that you intentionally left it out because of hackery.

I'm not forgetting anything, the posted brought up UE so I replied to UE.

In your case, YOU are forgetting that the inflation was due to FED chairman Arthur Burns pumping up the money supply to get Nixon reelected and it was Carter's FED chairman Paul Volker who fixed it. Reagan inherited Volker.

Wow, talk about selective memory.
The issue started with LBJ wanting to finance both the Vietnam War andf the War on Poverty. It continued with Nixon and was exacerbated by the oil boycott in '73. Ford's solution was to send out WIN buttons. Carter's solution was to do nothing. Volker did not raise rates to where they needed to be under Carter. He did do so under Reagan, who was a strong anti-inflation fighter. Yes, unemployment resulted from that, but it had been growing all along. Remember "stagflation"?
So Reagan inherited about 20 years of bad policy and took strong steps to correct it. Of course there was going to be dislocation. But in two years the economy was back on track and we had the largest peace time prosperity since WW2.
Obama has inherited nothing liek Reagan did. His policies have made the economy worse, not better and will continue to do so.
The comparison is odious.

Now you are just out and out lying.

By the end of 1980 the prime interest rate was 20%, the highest it was under Reagan was 20.5%.

UE 3 was steady at around 7.5% from the last years of Carter until Reagan signed his one and only tax cut in August of 1981, after which UE 3 soared to give us 10 consecutive months of double digit UE during the Reagan Recession of 1982.
2 years into Reagan's first term UE 3 was 10.8%

 

[Vast LWC]

Wow, talk about selective memory.
The issue started with LBJ wanting to finance both the Vietnam War andf the War on Poverty. It continued with Nixon and was exacerbated by the oil boycott in '73. Ford's solution was to send out WIN buttons. Carter's solution was to do nothing. Volker did not raise rates to where they needed to be under Carter. He did do so under Reagan, who was a strong anti-inflation fighter. Yes, unemployment resulted from that, but it had been growing all along. Remember "stagflation"?
So Reagan inherited about 20 years of bad policy and took strong steps to correct it. Of course there was going to be dislocation. But in two years the economy was back on track and we had the largest peace time prosperity since WW2.
Obama has inherited nothing liek Reagan did. His policies have made the economy worse, not better and will continue to do so.
The comparison is odious.

You're one to talk about "selective memory".

Obama inherited TWO WARS, a collapsed market, a 1.2 Trillion dollar deficit and an 11 Trillion Dollar debt that he has to pay interest on.

Which make the economic situation he inherited infinitely worse than Reagan's.

His policies have saved the economy from utter collapse.

As far as inflation goes, when one holds a large amount of debt, inflation is a GOOD thing, as it makes the relative worth of the debt worse. Considering just about everyone in America currently owes money, inflation would have been a good thing right about now.

Instead, we have deflation, which was a primary factor in the Great Depression.

 

[The Rabbi]

You are just out and out uninformed.
The prime rate is set by banks, not the Fed. The Fed sets the discount rate. And in Nov '80 it was 15%. By the next year it was 20%. And it went down from there.
Nice try but epic fail.

 

[edthecynic]

You are just out and out uninformed.
The prime rate is set by banks, not the Fed. The Fed sets the discount rate. And in Nov '80 it was 15%. By the next year it was 20%. And it went down from there.
Nice try but epic fail.

Nice try but epic LIE.

 

[The Rabbi]

Wow.
Uninformed AND stupid. Bad combination.
Please note where I said that the PRIME rate is set by banks. The DISCOUNT rate is set by the Fed.
Epic world class fail.

 

[Liability]

You are just out and out uninformed.
The prime rate is set by banks, not the Fed. The Fed sets the discount rate. And in Nov '80 it was 15%. By the next year it was 20%. And it went down from there.
Nice try but epic fail.

Nice try but epic LIE.

Perhaps edthesickdick doesn't grasp that there is a difference between the prime rate and the discount rate?

 

[NYcarbineer]

They accomplish more with a 40% minority than the Dems can with a 60% majority

That's because Democrats are a coalition and not just a big group of crazy white people.

WEENIE RDEENIE,

Ah yes......The Demonrats whose main constituency are the Queers, Homeless, Dopers, etc., (I wonder what % of these non-crazy whites voted REP).....and the non-Crazy BRILLIANT Affirmative Actioned Black Racists whose CORRUPT 13% Monolithic RACIST vote (without which the Demonrat Party couldn't exist) don't have anything to do with the phenomenal accomplishments of the MARXIST Muslim PC Protecting Political Charlatan Obami Salami ?????

Loosen your turban, Haji, the pressure is pushing your self-hatred to the boiling point.

 

[PLYMCO_PILGRIM]

They accomplish more with a 40% minority than the Dems can with a 60% majority

Whatever we do just make sure the republicans or democrats never get a supermajority again....holy crap that is just bad for the country no matter which party has it.

 

[NYcarbineer]

increased umemployment and no economic activity is an improvement?

That's what it was called when St Ronnie gave us 10 consecutive months of double digit UE in 1982 and 1983, peaking at 10.8% more than a year after his 1981 "job creating" tax cut.

You are of course forgetting to add that we were coming off of 10% inflation and 12% interest rates. Obama inherited close to zero inflation and close to zero interest rates.
You did forget that, right? It wasn't that you intentionally left it out because of hackery.

Except that Obama inherited a recession and Reagan inherited an expansion. The 16 month 81 82 recession was all Reagan's.

 

[Soggy in NOLA]

Oh God.. the Obamabots chime in... he inherited, Bush this and Bush that.

How pathetic. Let's see... Bush inherited an imasculated intelligence community, 9/11, housing bust, stock market crash and a recession. Guess what.. HE DEALT WITH IT and I don't recall hearing him blaming everything on the previous administration. Face it, Obama is the "Boy King". You get what you get... he owns this mess and oh, BTW, it has only gotten worse under his fine stewardship.

 

[Soggy in NOLA]

WTF??????????? Jimmy Carter gave Reagan an EXPANSION?

PUT DOWN THE FUCKING BONG DUDE!!!!

 

[The Rabbi]

WTF??????????? Jimmy Carter gave Reagan an EXPANSION?

PUT DOWN THE FUCKING BONG DUDE!!!!

Reagan won the election on the economy. Remember "are you better off now than you were four years ago?" To claim he inherited an expansion is just gross misrepresentation, if not out and out lying.

 

[Liability]

WTF??????????? Jimmy Carter gave Reagan an EXPANSION?

PUT DOWN THE FUCKING BONG DUDE!!!!

Reagan won the election on the economy. Remember "are you better off now than you were four years ago?" To claim he inherited an expansion is just gross misrepresentation, if not out and out lying.

I'd have to vote for it having been an out and out lie.

 

[Toronado3800]

Obviously the fact that unemployment is double digits is because of Obama. It's been over a year now.

I am not impressed with the one year time frame. The deficit spending of Ronald Reagan had not taken effect to jump start Carter's economy after a year.

ALSO after only a year the negative and positive effects of the stimulus are hardly felt. It is comparable to the week after you order a thousand widgets on your American Express card with the intent to selling them. You haven't paid the interest on the deficit spending and haven't reaped the benefits of many sales while the widgets are still in transit.

 

[PoliticalChic]

Obviously the fact that unemployment is double digits is because of Obama. It's been over a year now.

I am not impressed with the one year time frame. The deficit spending of Ronald Reagan had not taken effect to jump start Carter's economy after a year.

ALSO after only a year the negative and positive effects of the stimulus are hardly felt. It is comparable to the week after you order a thousand widgets on your American Express card with the intent to selling them. You haven't paid the interest on the deficit spending and haven't reaped the benefits of many sales while the widgets are still in transit.

At what point might you consider that the economic strategy of the administration is faulty?


"Specifically, the Index records a wide disparity among the 20 largest economies in the world over the past year, with half continuing to increase economic freedom while the other half, including the United States and the United Kingdom, embraced policies that substantially diminished it, says Heritage:

In particular, countries that undertook large stimulus measures or other government-directed attempts to spur growth failed to realize economic growth.

Not only have growth rates not increased, but the long term impact of these measures, which includes increased deficits, inflation, higher taxes and protectionist measures against foreign trade, actually diminish economic activity.

In the case of a country like the United States, which has such a large impact on the world economy, slower growth harms not only Americans, but citizens of almost every other country in the world.

Morning Bell: Americans Call for Change As U.S. Becomes Less Economically Free | The Foundry: Conservative Policy News.

 

[The Rabbi]

Obviously the fact that unemployment is double digits is because of Obama. It's been over a year now.

I am not impressed with the one year time frame. The deficit spending of Ronald Reagan had not taken effect to jump start Carter's economy after a year.

ALSO after only a year the negative and positive effects of the stimulus are hardly felt. It is comparable to the week after you order a thousand widgets on your American Express card with the intent to selling them. You haven't paid the interest on the deficit spending and haven't reaped the benefits of many sales while the widgets are still in transit.

Well, the Administration predicted that unemployment would not rise above 7% (or whatever they claimed) if the stimulus bill was passed. And it did. And it did.
So what did the administration's economists know that you don't?

 

[CMike]

That's what it was called when St Ronnie gave us 10 consecutive months of double digit UE in 1982 and 1983, peaking at 10.8% more than a year after his 1981 "job creating" tax cut.

You are of course forgetting to add that we were coming off of 10% inflation and 12% interest rates. Obama inherited close to zero inflation and close to zero interest rates.
You did forget that, right? It wasn't that you intentionally left it out because of hackery.

Except that Obama inherited a recession and Reagan inherited an expansion. The 16 month 81 82 recession was all Reagan's.

Whatever you are talking has gotta be illegal.

What Reagan inherited.

Double digit inflation

Double digit interest rates

Long gas lines

Record unemployment

America being the laughing stock of the rest of the world

What Reagan accomplished

Record economic growth

Prosperity

Bringing down the Soviet Union

Schools aren't what they used to be