The President with the worst average unemployment rate since World War II is?

[healthmyths]

It's rather strange that you fault Bush when it was Jimmy Carter's CRA, clinton's additions to it, and a Democrat controlled Congress that dismissed GOP warnings that the housing market was about to collapse that caused the recession.

More strange is the fact that Bush is not responsible for anything bad that happened while he was president, 9/11, the housing crash, etc., let alone the after effects one day after he left office, but Carter is responsible 25 years after he left office and Clinton 10 years after he left office for everything bad that happened during Bush's fiasco!!!!!!!

BTW, it was the GOP controlled congress that blocked and dismissed all legislation related to the GOP's "warnings." Once the Dems took control they passed reform legislation.

So Bush was to blame for the recession? The dot.com bust? 9/11? the worst hurricane SEASONS in history, the half a trillion withdrawn in 2 hours on 9/18/08 causing a run on banks? All Bush's fault. Right? He caused the recession. Caused $8 trillion in losses from dot.com bust. And of course you probably on one of those tin-foils that think he and cheney put C-4 in the WTC and there never were 4 airplane crashes. And by your admission Bush was at fault for 9/11 then he also was powerful enough to cause the worst hurricanes in history. Of course he was just as powerful it appears as Obama who told us..
AND remember Obama told ALL you first time voters at his acceptance in 2008..
that as the Messiah.."slowing the rising oceans and healing the planet"
"]

 

[edthecynic]

It's rather strange that you fault Bush when it was Jimmy Carter's CRA, clinton's additions to it, and a Democrat controlled Congress that dismissed GOP warnings that the housing market was about to collapse that caused the recession.

More strange is the fact that Bush is not responsible for anything bad that happened while he was president, 9/11, the housing crash, etc., let alone the after effects one day after he left office, but Carter is responsible 25 years after he left office and Clinton 10 years after he left office for everything bad that happened during Bush's fiasco!!!!!!!

BTW, it was the GOP controlled congress that blocked and dismissed all legislation related to the GOP's "warnings." Once the Dems took control they passed reform legislation.

The CRA that started the meltdown was Carter's pet project. bill clinton expanded it and Democrats, most notably Barney Franks, dismissed warnings. Yes I blame it on Carter and clinton. THEIR legislation blew up the economy and Democrats were in control of Congress when the defecation was about to hit the whirling blades.
Nothing strange about it at all except the fact that Democrats continually create catastrophes that they use against the adults across the aisle.

CRA had nothing to do with Bush's housing crash, and Frank was a POWERLESS minority congressman when the GOP majority blocked all reform bills in committee except one which the GOP controlled Senate refused to bring up for a vote. Bush and the GOP own the housing crash, lock, stock and barrel.

 

[edthecynic]

It's rather strange that you fault Bush when it was Jimmy Carter's CRA, clinton's additions to it, and a Democrat controlled Congress that dismissed GOP warnings that the housing market was about to collapse that caused the recession.

More strange is the fact that Bush is not responsible for anything bad that happened while he was president, 9/11, the housing crash, etc., let alone the after effects one day after he left office, but Carter is responsible 25 years after he left office and Clinton 10 years after he left office for everything bad that happened during Bush's fiasco!!!!!!!

BTW, it was the GOP controlled congress that blocked and dismissed all legislation related to the GOP's "warnings." Once the Dems took control they passed reform legislation.

So Bush was to blame for the recession? The dot.com bust? 9/11? the worst hurricane SEASONS in history, the half a trillion withdrawn in 2 hours on 9/18/08 causing a run on banks? All Bush's fault. Right? He caused the recession. Caused $8 trillion in losses from dot.com bust. And of course you probably on one of those tin-foils that think he and cheney put C-4 in the WTC and there never were 4 airplane crashes. And by your admission Bush was at fault for 9/11 then he also was powerful enough to cause the worst hurricanes in history. Of course he was just as powerful it appears as Obama who told us..
AND remember Obama told ALL you first time voters at his acceptance in 2008..
that as the Messiah.."slowing the rising oceans and healing the planet"

A Gish Gallop of deflections and Straw Men.
Thank you.

 

[rightwinger]

The monthly unemployment rate for January 2017 was 4.8%. This is the first unemployment report with Trump in office, his first month recorded for this list. This starts the Donald off at #3 on the list for unemployment since World War II. But Trump will have another 47 months in office if he completes his first term, another 95 if he is elected to a second term and completes that. Naturally, depending on how he does during his time in office, his position on this list is likely to change. Obama's final numbers are in and he finishes his Presidency with an average of 7.45% unemployment, the 3rd worst on the list.


The President with the worst average unemployment rate since World War II is?

Gerald Ford: 7.77%

Average Unemployment Rates for US Presidents since after World War II:

01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Donald Trump: 4.80%
04. Dwight Eisenhower: 4.89%
05. Richard Nixon: 5.00%
06. Bill Clinton: 5.20%
07. George W. Bush: 5.27%
08. John Kennedy: 5.98%
09. George H.W. Bush: 6.30%
10. Jimmy Carter: 6.54%
11. Barack Obama: 7.45%
12. Ronald Reagan: 7.54%
13. Gerald Ford: 7.77%



There are 47 months left in Trumps first Presidential term, assuming he completes it.

The labor force participation rate is at 62.9%, up from 62.7% in December.

So in your twisted reality......Trump is a hero for inheriting a 4.8% unemployment and Obama is a dog for inheriting an 8.1% unemployment

 

[Ernie S.]

It's rather strange that you fault Bush when it was Jimmy Carter's CRA, clinton's additions to it, and a Democrat controlled Congress that dismissed GOP warnings that the housing market was about to collapse that caused the recession.

More strange is the fact that Bush is not responsible for anything bad that happened while he was president, 9/11, the housing crash, etc., let alone the after effects one day after he left office, but Carter is responsible 25 years after he left office and Clinton 10 years after he left office for everything bad that happened during Bush's fiasco!!!!!!!

BTW, it was the GOP controlled congress that blocked and dismissed all legislation related to the GOP's "warnings." Once the Dems took control they passed reform legislation.

The CRA that started the meltdown was Carter's pet project. bill clinton expanded it and Democrats, most notably Barney Franks, dismissed warnings. Yes I blame it on Carter and clinton. THEIR legislation blew up the economy and Democrats were in control of Congress when the defecation was about to hit the whirling blades.
Nothing strange about it at all except the fact that Democrats continually create catastrophes that they use against the adults across the aisle.

CRA had nothing to do with Bush's housing crash, and Frank was a POWERLESS minority congressman when the GOP majority blocked all reform bills in committee except one which the GOP controlled Senate refused to bring up for a vote. Bush and the GOP own the housing crash, lock, stock and barrel.

Wrong again.

 

[Ernie S.]

The GOP knew McCain's bill wouldn't pass the Senate, much less a Democrat House.

 

[healthmyths]

 

[U2Edge]

The monthly unemployment rate for January 2017 was 4.8%. This is the first unemployment report with Trump in office, his first month recorded for this list. This starts the Donald off at #3 on the list for unemployment since World War II. But Trump will have another 47 months in office if he completes his first term, another 95 if he is elected to a second term and completes that. Naturally, depending on how he does during his time in office, his position on this list is likely to change. Obama's final numbers are in and he finishes his Presidency with an average of 7.45% unemployment, the 3rd worst on the list.


The President with the worst average unemployment rate since World War II is?

Gerald Ford: 7.77%

Average Unemployment Rates for US Presidents since after World War II:

01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Donald Trump: 4.80%
04. Dwight Eisenhower: 4.89%
05. Richard Nixon: 5.00%
06. Bill Clinton: 5.20%
07. George W. Bush: 5.27%
08. John Kennedy: 5.98%
09. George H.W. Bush: 6.30%
10. Jimmy Carter: 6.54%
11. Barack Obama: 7.45%
12. Ronald Reagan: 7.54%
13. Gerald Ford: 7.77%



There are 47 months left in Trumps first Presidential term, assuming he completes it.

The labor force participation rate is at 62.9%, up from 62.7% in December.

So in your twisted reality......Trump is a hero for inheriting a 4.8% unemployment and Obama is a dog for inheriting an 8.1% unemployment

Did I say that? The first reported unemployment rate while Obama was in office was 7.8% by the way. We have 96 months of Obama in office with an average of 7.45%. Trump's average is 4.80% because we only have 1 report so far. Again, this is just the data from the Bureau of Labor Statistics. Will see if the situation stays the same with Trump, gets worse, or gets better during his time in office. For right now though, this is where were at because this all the data that is available.

 

[U2Edge]

Ah, so you don't care about the monthly unemployment rate eh? I suppose you did not care about your GRADE POINT AVERAGE in school either eh? Do you think schools should do away with that as well?

You are not given a failing grade point average in your Freshman year....Obama was

Oh you can be which is why students have to repeat that grade if its High School or drop out of University if were talking about college. Obama gets to remain all four years no matter how bad he does.

7.8% to 4.6% is your idea of how bad he did.

In reality, that 3.2 point drop is the biggest since WWII

Bureau of Labor Statistics Data


average annualized job growth...

Clinton	2,861,000 ​
Carter	2,586,000 ​
Johnson	2,358,000 ​
Reagan	2,016,000 ​
Roosevelt	1,819,000 ​
Nixon	1,644,000 ​
Obama	1,413,830 ​
Kennedy	1,261,000 ​
Truman	1,123,000 ​
Ford	861,000 ​
GHW Bush	659,000 ​
Eisenhower	442,000 ​
Bush	160,000 ​

[TBODY] [/TBODY]

Bush spent most of his 96 months at or near full employment. Its harder to create new jobs when the economy is at full employment.

Ummm... Bush averaged a little over 13 thousand jobs per month. The worst performance on record since Herbert Hoover.

Once again, Bush was at full employment for most of his time office. Most people had jobs or could get a job. That was the reality. Considering that, your stat is irrelevant.

 

[U2Edge]

OP- Hasn't been true for months, and was always incredibly stupid. Fake news for the chumps.

What has not been true for months? I update the list every now and then. It was just recently updated. All the data is from the Bureau of Labor Statistics. Factual data only, thats it.

 

[U2Edge]

Well, I think you would know after coming to this this thread so many times after so many years. Thats how its calculated. Obama's numbers start with the unemployment figure for January 2009. Bush's numbers start with the unemployment figure for January 2001. Reagans January 1981. Clintons, January 1993. So yes, Trumps start with January 2017. It wouldn't be accurate to give Obama a 97 month and start Trumps figures with February.

Actually it would ONLY be accurate if you started every president with February!!!!

You could do either January or February to pick the end or beginning of the next President. I picked January because its the start of the year and the month when the new President enters office. Moving the starting point to February though would not significantly change the results on the list.

 

[U2Edge]

If its so dumb, you should not need to make any effort to dispel it. Yet, if we count up your post in this thread, you spend a lot of time here. Most informed and intelligent people don't waste their time with things they consider dumb or irrelevant.

LOLOL

Are you kidding? You're the gift that keeps on giving. Why would I miss out on this? Month after month after month, I got to come on this thread and laugh at your nonsense as Obama's average dropped. I even pointed out early on in this thread that Obama's average would fall below Reagan's. According to you numbnuts, Obama did a better job handling in employment than Reagan did.

Hey, its up to you how you choose to spend your time. Thanks for spending it in my thread. It only lends credence to how relevant it is.

Yeah, that's what my presence does.

Hey, its my thread. This is where you choose to spend your time. That tells everyone more than anything you might have to say.

Your posts speak for you. They reveal how retarded you are. Like positing Bush performed better than Reagan in terms of jobs because his average was lower.

Hey, its my thread. This is where you choose to spend your time. That tells everyone more than anything you might have to say.

 

[U2Edge]

The monthly unemployment rate for January 2017 was 4.8%. This is the first unemployment report with Trump in office, his first month recorded for this list. This starts the Donald off at #3 on the list for unemployment since World War II. But Trump will have another 47 months in office if he completes his first term, another 95 if he is elected to a second term and completes that. Naturally, depending on how he does during his time in office, his position on this list is likely to change. Obama's final numbers are in and he finishes his Presidency with an average of 7.45% unemployment, the 3rd worst on the list.


The President with the worst average unemployment rate since World War II is?

Gerald Ford: 7.77%

Average Unemployment Rates for US Presidents since after World War II:

01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Donald Trump: 4.80%
04. Dwight Eisenhower: 4.89%
05. Richard Nixon: 5.00%
06. Bill Clinton: 5.20%
07. George W. Bush: 5.27%
08. John Kennedy: 5.98%
09. George H.W. Bush: 6.30%
10. Jimmy Carter: 6.54%
11. Barack Obama: 7.45%
12. Ronald Reagan: 7.54%
13. Gerald Ford: 7.77%



There are 47 months left in Trumps first Presidential term, assuming he completes it.

The labor force participation rate is at 62.9%, up from 62.7% in December.

LOLOL

You're desperation is showing. We're only 3 days into February, Trump's first full month on office, if he lasts that long. Hiw the fuck does Trump have an "average" unemployment rate with only 2.4 days under his belt??

Well, I think you would know after coming to this this thread so many times after so many years. Thats how its calculated. Obama's numbers start with the unemployment figure for January 2009. Bush's numbers start with the unemployment figure for January 2001. Reagans January 1981. Clintons, January 1993. So yes, Trumps start with January 2017. It wouldn't be accurate to give Obama a 97 month and start Trumps figures with February.

I guess I shouldn't be surprised though that your just learning this now.

Actually, with every other president, you started counting following their first full month in office.

And why would you credit Trump, and not Obama, for January's average? Obama was in office 20 if those days compared to Trump's 11. Obama's policies have affected the unemployment rate, not Trump's.

Had Obama left office with a 10% unemployment rate, would that have been Trump's fault? Would it be reasonable to say Trump's average unemployment rate is 10% when it would have been because of Obama?

This is exactly why your posts are nonsensical.

Wrong. Reagans 96 month total starts with January 1981. Bush Sr. January 1989, 48 months. Clinton January 1993. W. January 2001. Obama January 2009. Now Trump, January 2017. It would be inconsistent to wait until February's results are in to start counting Trump and give Obama a 97th month in Office.

You don't rate a President on anything simply by their first month or last month in office. Its all 96 months or 48 months if they are a one term President. For Obama and all the Presidents, no one month stands out over the other. All must be looked at and considered equally.

If for example a President had between 8 and 10% unemployment every month for the first 7 years in office, and then was able to drop the unemployment down to 5% in his last year, it would be a mistake to rate that time in office as good for the worker. The average will show that while that President was in office, most people struggled. The good job environment in the last months in office CANNOT cover up the 7 years when things were very difficult.

 

[healthmyths]

It's rather strange that you fault Bush when it was Jimmy Carter's CRA, clinton's additions to it, and a Democrat controlled Congress that dismissed GOP warnings that the housing market was about to collapse that caused the recession.

More strange is the fact that Bush is not responsible for anything bad that happened while he was president, 9/11, the housing crash, etc., let alone the after effects one day after he left office, but Carter is responsible 25 years after he left office and Clinton 10 years after he left office for everything bad that happened during Bush's fiasco!!!!!!!

BTW, it was the GOP controlled congress that blocked and dismissed all legislation related to the GOP's "warnings." Once the Dems took control they passed reform legislation.

The CRA that started the meltdown was Carter's pet project. bill clinton expanded it and Democrats, most notably Barney Franks, dismissed warnings. Yes I blame it on Carter and clinton. THEIR legislation blew up the economy and Democrats were in control of Congress when the defecation was about to hit the whirling blades.
Nothing strange about it at all except the fact that Democrats continually create catastrophes that they use against the adults across the aisle.

CRA had nothing to do with Bush's housing crash, and Frank was a POWERLESS minority congressman when the GOP majority blocked all reform bills in committee except one which the GOP controlled Senate refused to bring up for a vote. Bush and the GOP own the housing crash, lock, stock and barrel.

GWB warned Congress to act 22 times over 6 years and to no avail!

"Over six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. In fact, it was Congress that flatly rejected President Bush's call more than five years ago to reform the GSEs. Over the years, the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems with the GSEs.

2001
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity." (2002 Budget Analytic Perspectives, pg. 142)

2002
May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

2003
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.
September: Then-Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.
September: Then-House Financial Services Committee Ranking Member Barney Frank (D-MA) strongly disagrees with the Administration's assessment, saying "these two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis … The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," The New York Times, 9/11/03)
October: Senator Thomas Carper (D-DE) refuses to acknowledge any necessity for GSE reforms, saying "if it ain't broke, don't fix it." (Sen. Carper, Hearing of Senate Committee on Banking, Housing, and Urban Affairs, 10/16/03)
November: Then-Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

2004
February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital and calls for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore … should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)
February: Then-CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)
April: Rep. Frank ignores the warnings, accusing the Administration of creating an "artificial issue." At a speech to the Mortgage Bankers Association conference, Rep. Frank said "people tend to pay their mortgages. I don't think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren't there." ("Frank: GSE Failure A Phony Issue," American Banker, 4/21/04)
June: Then-Treasury Deputy Secretary Samuel Bodman spotlights the risk posed by the GSEs and calls for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005
April: Then-Secretary Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America … Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)
July: Then-Minority Leader Harry Reid rejects legislation reforming GSEs, "while I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ("Dems Rip New Fannie Mae Regulatory Measure," United Press International, 7/28/05)

2007
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)
August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)

2008
February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
"Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08)
Setting the Record Straight: Six Years of Unheeded Warnings for GSE Reform
Remember the housing bubble started under Clinton and was made worse by the Democrats who refused to as Dodd/Frank said:

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems, the more pressure there is on these companies, the less we will
see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae,"
New York Times, 9/11/03)
* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also
ignored the President's warnings and called on him to "immediately reconsider his ill-advised"
position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)
http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

AND Frank admitted he was totally wrong.....2 years LATER!!!

And who admitted his ERROR???

Barney FRANK!


Barney Frank Comes Home to the Facts
By Larry Kudlow August 21, 2010
Can you teach an old dog new tricks? In politics, the answer is usually no. Most elected officials cling to their ideological biases, despite the real-world facts that disprove their theories time and again. Most have no common sense, and most never acknowledge that they were wrong.
But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added,
"I had been too sanguine about Fannie and Freddie."
Barney Frank admits truth about Fannie

 

[rdean]

He is also the president given the worst economy by the worst political party in US History.

Republicans are like Midas. Only everything they touch turns to shit. Ask a GOP minion for a GOP success and they can't name one. Not even a lousy single something good.

 

[edthecynic]

It's rather strange that you fault Bush when it was Jimmy Carter's CRA, clinton's additions to it, and a Democrat controlled Congress that dismissed GOP warnings that the housing market was about to collapse that caused the recession.

More strange is the fact that Bush is not responsible for anything bad that happened while he was president, 9/11, the housing crash, etc., let alone the after effects one day after he left office, but Carter is responsible 25 years after he left office and Clinton 10 years after he left office for everything bad that happened during Bush's fiasco!!!!!!!

BTW, it was the GOP controlled congress that blocked and dismissed all legislation related to the GOP's "warnings." Once the Dems took control they passed reform legislation.

The CRA that started the meltdown was Carter's pet project. bill clinton expanded it and Democrats, most notably Barney Franks, dismissed warnings. Yes I blame it on Carter and clinton. THEIR legislation blew up the economy and Democrats were in control of Congress when the defecation was about to hit the whirling blades.
Nothing strange about it at all except the fact that Democrats continually create catastrophes that they use against the adults across the aisle.

CRA had nothing to do with Bush's housing crash, and Frank was a POWERLESS minority congressman when the GOP majority blocked all reform bills in committee except one which the GOP controlled Senate refused to bring up for a vote. Bush and the GOP own the housing crash, lock, stock and barrel.

Wrong again.

Actually your video proves me right, in spite of FAUX News' attempts to lie by telling just enough truth to deceive and then shutting up.

If you pay attention they quote Frank in 2003 speaking against regulation, and then FOX said "the legislation was blocked." But FOX of course left outv that it was the GOP controlled the House and the committee that reviewed the legislation and blocked it, Frank was a powerless minority member at the time, and FOX's Britt Hume then tried to make it seem like the powerless at the time Frank blocked the bill in 2003 by pointing out that Frank was now, in 2008, the time of the FAUX report, the committee chairman.

Also near the end of your clip Hume also confirms that the ONLY House bill that was not blocked by the GOP majority in committee was blocked by the GOP majority leader in the Senate Bill Frist by not ever bringing it up for a vote, but Hume tried to blame powerless minority senator Obama by saying he made no comment on the bill.

So thank you for posting a video that proves what I highlighted in my post!!!!!

 

[edthecynic]

It's rather strange that you fault Bush when it was Jimmy Carter's CRA, clinton's additions to it, and a Democrat controlled Congress that dismissed GOP warnings that the housing market was about to collapse that caused the recession.

More strange is the fact that Bush is not responsible for anything bad that happened while he was president, 9/11, the housing crash, etc., let alone the after effects one day after he left office, but Carter is responsible 25 years after he left office and Clinton 10 years after he left office for everything bad that happened during Bush's fiasco!!!!!!!

BTW, it was the GOP controlled congress that blocked and dismissed all legislation related to the GOP's "warnings." Once the Dems took control they passed reform legislation.

The CRA that started the meltdown was Carter's pet project. bill clinton expanded it and Democrats, most notably Barney Franks, dismissed warnings. Yes I blame it on Carter and clinton. THEIR legislation blew up the economy and Democrats were in control of Congress when the defecation was about to hit the whirling blades.
Nothing strange about it at all except the fact that Democrats continually create catastrophes that they use against the adults across the aisle.

CRA had nothing to do with Bush's housing crash, and Frank was a POWERLESS minority congressman when the GOP majority blocked all reform bills in committee except one which the GOP controlled Senate refused to bring up for a vote. Bush and the GOP own the housing crash, lock, stock and barrel.

GWB warned Congress to act 22 times over 6 years and to no avail!

"Over six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. In fact, it was Congress that flatly rejected President Bush's call more than five years ago to reform the GSEs. Over the years, the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems with the GSEs.

2001
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity." (2002 Budget Analytic Perspectives, pg. 142)

2002
May: The Office of Management and Budget (OMB) calls for the disclosure and corporate governance principles contained in the President's 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

2003
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.
September: Then-Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.
September: Then-House Financial Services Committee Ranking Member Barney Frank (D-MA) strongly disagrees with the Administration's assessment, saying "these two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis … The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," The New York Times, 9/11/03)
October: Senator Thomas Carper (D-DE) refuses to acknowledge any necessity for GSE reforms, saying "if it ain't broke, don't fix it." (Sen. Carper, Hearing of Senate Committee on Banking, Housing, and Urban Affairs, 10/16/03)
November: Then-Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

2004
February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital and calls for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore … should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)
February: Then-CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)
April: Rep. Frank ignores the warnings, accusing the Administration of creating an "artificial issue." At a speech to the Mortgage Bankers Association conference, Rep. Frank said "people tend to pay their mortgages. I don't think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren't there." ("Frank: GSE Failure A Phony Issue," American Banker, 4/21/04)
June: Then-Treasury Deputy Secretary Samuel Bodman spotlights the risk posed by the GSEs and calls for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

2005
April: Then-Secretary Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America … Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)
July: Then-Minority Leader Harry Reid rejects legislation reforming GSEs, "while I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ("Dems Rip New Fannie Mae Regulatory Measure," United Press International, 7/28/05)

2007
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, the White House, 8/9/07)
August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President's warnings and calls on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," The New York Times, 8/11/07)
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, the White House, 12/6/07)

2008
February: Assistant Treasury Secretary David Nason reiterates the urgency of reforms, saying "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow state housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
"Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
July: Congress heeds the President's call for action and passes reform legislation for Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions "why weren't we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years." (Dawn Kopecki, "Fannie Mae, Freddie 'House Of Cards' Prompts Takeover," Bloomberg, 9/9/08)
Setting the Record Straight: Six Years of Unheeded Warnings for GSE Reform
Remember the housing bubble started under Clinton and was made worse by the Democrats who refused to as Dodd/Frank said:

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems, the more pressure there is on these companies, the less we will
see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae,"
New York Times, 9/11/03)
* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also
ignored the President's warnings and called on him to "immediately reconsider his ill-advised"
position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)
http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

AND Frank admitted he was totally wrong.....2 years LATER!!!

And who admitted his ERROR???

Barney FRANK!


Barney Frank Comes Home to the Facts
By Larry Kudlow August 21, 2010
Can you teach an old dog new tricks? In politics, the answer is usually no. Most elected officials cling to their ideological biases, despite the real-world facts that disprove their theories time and again. Most have no common sense, and most never acknowledge that they were wrong.
But one huge exception to this rule is Democrat Barney Frank, chairman of the House Financial Services Committee.
For years, Frank was a staunch supporter of Fannie Mae and Freddie Mac, the giant government housing agencies that played such an enormous role in the financial meltdown that thrust the economy into the Great Recession.
But in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that "it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it." He then added,
"I had been too sanguine about Fannie and Freddie."
Barney Frank admits truth about Fannie

Basically the same lying technique as FAUX, leaving out that the GOP did a lot of talking, but the GOP majority blocked every reform bill they talked so much about being needed, proving just how cheap talk really is!!!!!

 

[edthecynic]

Well, I think you would know after coming to this this thread so many times after so many years. Thats how its calculated. Obama's numbers start with the unemployment figure for January 2009. Bush's numbers start with the unemployment figure for January 2001. Reagans January 1981. Clintons, January 1993. So yes, Trumps start with January 2017. It wouldn't be accurate to give Obama a 97 month and start Trumps figures with February.

Actually it would ONLY be accurate if you started every president with February!!!!

You could do either January or February to pick the end or beginning of the next President. I picked January because its the start of the year and the month when the new President enters office. Moving the starting point to February though would not significantly change the results on the list.

No, February is the ONLY accurate month to choose for 2 reasons.
1. It is the first full month under the new president.
2. January is the month when the BLS uses the census data to correct for population changes during the past year.

No honest person who wanted accurate numbers would ever use January to begin a new president's tally.

 

[rightwinger]

The monthly unemployment rate for January 2017 was 4.8%. This is the first unemployment report with Trump in office, his first month recorded for this list. This starts the Donald off at #3 on the list for unemployment since World War II. But Trump will have another 47 months in office if he completes his first term, another 95 if he is elected to a second term and completes that. Naturally, depending on how he does during his time in office, his position on this list is likely to change. Obama's final numbers are in and he finishes his Presidency with an average of 7.45% unemployment, the 3rd worst on the list.


The President with the worst average unemployment rate since World War II is?

Gerald Ford: 7.77%

Average Unemployment Rates for US Presidents since after World War II:

01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Donald Trump: 4.80%
04. Dwight Eisenhower: 4.89%
05. Richard Nixon: 5.00%
06. Bill Clinton: 5.20%
07. George W. Bush: 5.27%
08. John Kennedy: 5.98%
09. George H.W. Bush: 6.30%
10. Jimmy Carter: 6.54%
11. Barack Obama: 7.45%
12. Ronald Reagan: 7.54%
13. Gerald Ford: 7.77%



There are 47 months left in Trumps first Presidential term, assuming he completes it.

The labor force participation rate is at 62.9%, up from 62.7% in December.

So in your twisted reality......Trump is a hero for inheriting a 4.8% unemployment and Obama is a dog for inheriting an 8.1% unemployment

Did I say that? The first reported unemployment rate while Obama was in office was 7.8% by the way. We have 96 months of Obama in office with an average of 7.45%. Trump's average is 4.80% because we only have 1 report so far. Again, this is just the data from the Bureau of Labor Statistics. Will see if the situation stays the same with Trump, gets worse, or gets better during his time in office. For right now though, this is where were at because this all the data that is available.

Again your methodology is twisted to reward someone who was given a low unemployment rate and doubled it and punish someone who is given a high unemployment rate and cuts it in half

It doesn't reveal the true story

 

[rightwinger]

You are not given a failing grade point average in your Freshman year....Obama was

Oh you can be which is why students have to repeat that grade if its High School or drop out of University if were talking about college. Obama gets to remain all four years no matter how bad he does.

7.8% to 4.6% is your idea of how bad he did.

In reality, that 3.2 point drop is the biggest since WWII

Bureau of Labor Statistics Data


average annualized job growth...

Clinton	2,861,000 ​
Carter	2,586,000 ​
Johnson	2,358,000 ​
Reagan	2,016,000 ​
Roosevelt	1,819,000 ​
Nixon	1,644,000 ​
Obama	1,413,830 ​
Kennedy	1,261,000 ​
Truman	1,123,000 ​
Ford	861,000 ​
GHW Bush	659,000 ​
Eisenhower	442,000 ​
Bush	160,000 ​

[TBODY] [/TBODY]

Bush spent most of his 96 months at or near full employment. Its harder to create new jobs when the economy is at full employment.

Ummm... Bush averaged a little over 13 thousand jobs per month. The worst performance on record since Herbert Hoover.

Once again, Bush was at full employment for most of his time office. Most people had jobs or could get a job. That was the reality. Considering that, your stat is irrelevant.

It's like being a poker player who was ahead most of the night and then lost his shirt on the final hand