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The monthly unemployment rate for April 2014 was 5.4%. This is Obama's 76th month of office. This drops the average unemployment rate for the time he has been in office from the average 8.24% in December 2014 at 72 months to the average 8.09% in April 2015 at 76 months.
Here is the new standings for the Presidents with Obama's revised numbers:
The President with the worst average unemployment rate since World War II is?
Barrack Obama: 8.09%
Average Unemployment Rates For US Presidents since World War II:
01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Dwight Eisenhower: 4.89%
04. Richard Nixon: 5.00%
05. Bill Clinton: 5.20%
06. George W. Bush: 5.27%
07. John Kennedy: 5.98%
08. George H.W. Bush: 6.30%
09. Jimmy Carter: 6.54%
10. Ronald Reagan: 7.54%
11. Gerald Ford: 7.77%
12. Barack Obama: 8.09%
615.1/76 = 8.093421 = 8.09%
There are 20 months left in Obama's Presidency.
The monthly unemployment rate for June 2014 was 5.3%. This is Obama's 78th month of office. This drops the average unemployment rate for the time he has been in office from the average 8.09% in April 2014 at 76 months to the average 8.02% in June 2015 at 78 months.
Here is the new standings for the Presidents with Obama's revised numbers:
The President with the worst average unemployment rate since World War II is?
Barrack Obama: 8.02%
Average Unemployment Rates for US Presidents since after World War II:
01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Dwight Eisenhower: 4.89%
04. Richard Nixon: 5.00%
05. Bill Clinton: 5.20%
06. George W. Bush: 5.27%
07. John Kennedy: 5.98%
08. George H.W. Bush: 6.30%
09. Jimmy Carter: 6.54%
10. Ronald Reagan: 7.54%
11. Gerald Ford: 7.77%
12. Barack Obama: 8.02%
625.9/78 = 8.0243 = 8.02%
There are 18 months left in Obama's Presidency.
And consider this:
NOT ONE major event like the following that occurred during George W Bush and Bush still had the 6th lowest had occurred in the above list.
How about these events...was there ANY AFFECT on the economy?
Recession
1) Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It s official 2001 recession only lasted eight months
A Major $5 trillion market loss
2) Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year! $5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble How to lose 5 trillion Anderson Cooper 360 - CNN.com Blogs
The worst attacks on the USA in History.. 3,000 deaths!!!
3)Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets. Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: The Top 10 Financial Events of the Decade
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
4) $1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters Weather Underground
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details Federal State Local for 2008 - Charts
2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary
Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?
So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..
IN spite of recession, dot.com bust, 9/11, worst hurricanes.... MORE people were working... more tax revenue was collected. GDP grew!
And yet when he left office things had just gone really, REALLY bad. The 2nd worst recession in US history. Unemployment, and major problems. But hey, Bush wasn't president on the 31st January 2009 so it's all Obama's fault that the recession was in place on that day, right?
It was the second worse only because Obama and the Dims made it the second worse. Hoover and FDR turned the panic of 1929 into the worst depression.
TRY living in reality versus some CATO imagined BS PLEASE?
US economy tanked 9%+ the last quarter of 2009. The ENTIRE 8 years of Dubya was supported by Dubya's ponzi scheme built on the credit bubble he cheered on, and protected
Obamas unemployment rate is lower than Reagans was at this point
Are conservatives ready to declare Obama their messiah ?
Well at this point, the labor force participation rate was 65.5% with Reagan. With Obama the labor force Participation rate is 62.6%. If Obama's labor force participation rate was 65.5%, his unemployment rate would be over 9%. So economically speaking, the economy was providing for more jobs for the population as a whole in the summer of 1987 under Reagan than it is under Obama in 2015.
The current labor force participation rate has not been this low since October 1977!
The monthly unemployment rate for April 2014 was 5.4%. This is Obama's 76th month of office. This drops the average unemployment rate for the time he has been in office from the average 8.24% in December 2014 at 72 months to the average 8.09% in April 2015 at 76 months.
Here is the new standings for the Presidents with Obama's revised numbers:
The President with the worst average unemployment rate since World War II is?
Barrack Obama: 8.09%
Average Unemployment Rates For US Presidents since World War II:
01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Dwight Eisenhower: 4.89%
04. Richard Nixon: 5.00%
05. Bill Clinton: 5.20%
06. George W. Bush: 5.27%
07. John Kennedy: 5.98%
08. George H.W. Bush: 6.30%
09. Jimmy Carter: 6.54%
10. Ronald Reagan: 7.54%
11. Gerald Ford: 7.77%
12. Barack Obama: 8.09%
615.1/76 = 8.093421 = 8.09%
There are 20 months left in Obama's Presidency.
The monthly unemployment rate for June 2014 was 5.3%. This is Obama's 78th month of office. This drops the average unemployment rate for the time he has been in office from the average 8.09% in April 2014 at 76 months to the average 8.02% in June 2015 at 78 months.
Here is the new standings for the Presidents with Obama's revised numbers:
The President with the worst average unemployment rate since World War II is?
Barrack Obama: 8.02%
Average Unemployment Rates for US Presidents since after World War II:
01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Dwight Eisenhower: 4.89%
04. Richard Nixon: 5.00%
05. Bill Clinton: 5.20%
06. George W. Bush: 5.27%
07. John Kennedy: 5.98%
08. George H.W. Bush: 6.30%
09. Jimmy Carter: 6.54%
10. Ronald Reagan: 7.54%
11. Gerald Ford: 7.77%
12. Barack Obama: 8.02%
625.9/78 = 8.0243 = 8.02%
There are 18 months left in Obama's Presidency.
And consider this:
NOT ONE major event like the following that occurred during George W Bush and Bush still had the 6th lowest had occurred in the above list.
How about these events...was there ANY AFFECT on the economy?
Recession
1) Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It s official 2001 recession only lasted eight months
A Major $5 trillion market loss
2) Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year! $5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble How to lose 5 trillion Anderson Cooper 360 - CNN.com Blogs
The worst attacks on the USA in History.. 3,000 deaths!!!
3)Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets. Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: The Top 10 Financial Events of the Decade
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
4) $1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters Weather Underground
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details Federal State Local for 2008 - Charts
2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary
Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?
So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..
IN spite of recession, dot.com bust, 9/11, worst hurricanes.... MORE people were working... more tax revenue was collected. GDP grew!
Right wingers LOVE to promote the LIE that Dubya grew revenues, taking it from 20% of GDP to below 15% (Korean war levels). Weird
Percent of GDP
Historical Source of Revenue as Share of GDP
EFFECT OF REAGAN, KENNEDY, AND BUSH TAX CUTS ON REVENUES
Effect of the Reagan Kennedy and Bush Tax Cuts
'Tax Cuts Still Don’t Pay for Themselves'
Burying Supply-Side Once and for All
Neera Tanden for Democracy Journal Burying Supply-Side Once and for All
CBO: Bush Tax Cuts Responsible For Almost A Third Of Deficit In Last 10 Years (2001-2010)
Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves
Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."
Bush Treasury Secretary Paulson: "As A General Rule, I Don't Believe That Tax Cuts Pay For Themselves."
Bush OMB Director Nussle: "Some Say That [The Tax Cut] Was A Total Loss. Some Say They Totally Pay For Themselves. It's Neither Extreme."
Bush CEA Chairman Lazear: "As A General Rule, We Do Not Think Tax Cuts Pay For Themselves."
Bush Economic Adviser Viard: "Federal Revenue Is Lower Today Than It Would Have Been Without The Tax Cuts."
Bush Treasury Official Carroll: "We Do Not Think Tax Cuts Pay For Themselves."
Reagan Chief Economist Feldstein: "It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."
Feldstein In 1986: "Hyperbole" That Reagan Tax Cut "Would Actually Increase Tax Revenue."
Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."
Tax Foundation's Prante: "A Stretch" To Claim "Cutting Capital Gains Taxes Raises Tax Revenues."
Obama took us from 10.0% to 5.2%! Pretty good for ideas that you say fail!
Government is needed!
You can do that easily when the labor force participation rate drops so dramatically. It was about 66% when he started and it is now down to 62.6%. If the labor force participation rate was still at 66%, the unemployment rate would be over 10%.
Obama is the only President since World War II where the labor force participation rate has dropped so steeply and heavily over a 6.5 year period. By the time Obama leaves office, the labor force Participation rate will probably be at 62%, a 4% nose dive during one administration. A first in history.
LFPR? lol. eah people are retiring, lol
LFPR? lol. eah people are retiring, lol
100% stupid and liberal as always. Federal Reserve uses LFPR to understand how bad unemployment under Obama really is. Oh, and they use the LFPR among the working age population, not the retired population.
Consider a report from the Bureau of Labor Statistics issued in November 2006, more than two years before Obama took office and before the start of the Great Recession. It pegged the start of the decline in participation rates at around 2000, and projected the decline would continue for the next four decades.
Bureau of Labor Statistics, November 2006
Declining Labor Participation Rates
I swear liberals are simply idiots who lie TO THEMSELVES. Retiring Baby Boomers do not account for Obama's 40-year low in Labor Market participation; and if it wasn't "looked at" under Bush it is because Bush's long-term unemployment wasn't nearly this low. what crybabies you losers on the Left are.
I suppose you excuse-making left-wing nutjobs think it is a coincidence that at the same time labor market participation is at a forty-year low there are RECORD numbers of Americans on some kind of disability NOT related to the wars in iraq and Afghanistan. labor market participation is low because Obama expanded the welfare state.
The monthly unemployment rate for June 2014 was 5.3%. This is Obama's 78th month of office. This drops the average unemployment rate for the time he has been in office from the average 8.09% in April 2014 at 76 months to the average 8.02% in June 2015 at 78 months.
Here is the new standings for the Presidents with Obama's revised numbers:
The President with the worst average unemployment rate since World War II is?
Barrack Obama: 8.02%
Average Unemployment Rates for US Presidents since after World War II:
01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Dwight Eisenhower: 4.89%
04. Richard Nixon: 5.00%
05. Bill Clinton: 5.20%
06. George W. Bush: 5.27%
07. John Kennedy: 5.98%
08. George H.W. Bush: 6.30%
09. Jimmy Carter: 6.54%
10. Ronald Reagan: 7.54%
11. Gerald Ford: 7.77%
12. Barack Obama: 8.02%
625.9/78 = 8.0243 = 8.02%
There are 18 months left in Obama's Presidency.
And consider this:
NOT ONE major event like the following that occurred during George W Bush and Bush still had the 6th lowest had occurred in the above list.
How about these events...was there ANY AFFECT on the economy?
Recession
1) Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because you don't seem to comprehend... RECESSIONS are like football length tankers... it takes miles to turn one...i.e. so does
a "RECESSION"... it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It s official 2001 recession only lasted eight months
A Major $5 trillion market loss
2) Are you aware that the dot.com bust occurred and cost $5 trillion in losses?
Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year! $5 trillion in market losses MEAN lost tax revenue
PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $5 trillion dollars in market value for tech companies. More than half of the Internet companies created since 1995 were gone by 2004 - and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble How to lose 5 trillion Anderson Cooper 360 - CNN.com Blogs
The worst attacks on the USA in History.. 3,000 deaths!!!
3)Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets. Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: The Top 10 Financial Events of the Decade
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
4) $1 trillion in losses due to the WORST Hurricane SEASONS in history.
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters Weather Underground
THESE events OCCURRED!
YET in SPITE of :
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts...
In spite of nearly $8 trillion in lost businesses, market values, destroyed property.. IN SPITE of that:
AFTER the tax cuts Federal Tax REVENUES Increased an average of 9.78% per year!!!
Government Revenue Details Federal State Local for 2008 - Charts
2000 $236.2 billion surplus
2001 $128.2 billion surplus
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
Historical Federal Receipt and Outlay Summary
Largest Gross Domestic Product in history!!
When Bush took office in 2001 GDP was $12.355,271,000,000
when Bush left office in 2008 GDP was $14,359,490,000,000
A 16% increase in GDP or $2 TRILLION.
So how did those 4 gigantic events affect the Gross Domestic Product from 2000 to 2009?
So starting in 2001 132,548,000 people were working.
At the end of 2008 138,056,000 people working..
IN spite of recession, dot.com bust, 9/11, worst hurricanes.... MORE people were working... more tax revenue was collected. GDP grew!
And yet when he left office things had just gone really, REALLY bad. The 2nd worst recession in US history. Unemployment, and major problems. But hey, Bush wasn't president on the 31st January 2009 so it's all Obama's fault that the recession was in place on that day, right?
It was the second worse only because Obama and the Dims made it the second worse. Hoover and FDR turned the panic of 1929 into the worst depression.
TRY living in reality versus some CATO imagined BS PLEASE?
US economy tanked 9%+ the last quarter of 2009. The ENTIRE 8 years of Dubya was supported by Dubya's ponzi scheme built on the credit bubble he cheered on, and protected
I thought we were rid of all your incessant spam.
<sigh>
I swear liberals are simply idiots who lie TO THEMSELVES. Retiring Baby Boomers do not account for Obama's 40-year low in Labor Market participation; and if it wasn't "looked at" under Bush it is because Bush's long-term unemployment wasn't nearly this low. what crybabies you losers on the Left are.
I suppose you excuse-making left-wing nutjobs think it is a coincidence that at the same time labor market participation is at a forty-year low there are RECORD numbers of Americans on some kind of disability NOT related to the wars in iraq and Afghanistan. labor market participation is low because Obama expanded the welfare state.
Are you trying to say that a president's policies don't have an impact AFTER they leave office?
Seriously, is this economics for idiots or what?
the only idiot i see is you; but if you are talking about the "Bush" recesssion that ended in the summer of obama's first year; long before even a tiny fraction of the obama "Stimulus" was spent, That's not a "Faux News" talking point; it's a fact as how recessions and recoveries are measured by economists, by consecutive quarters of GDP increase or decrease. put that in your pipe and smoke it
And your plan is to throw these people onto the cold pavement.
The Republican plan crashed the global economy in 2008And your plan is to throw these people onto the cold pavement.
100% stupid and liberal of course. The Republican plan is capitalism which just eliminated 40% of the entire world's poverty when China switched to it.
Do you understand?
At least we agree you're definitely smoking something ...Are you trying to say that a president's policies don't have an impact AFTER they leave office?
Seriously, is this economics for idiots or what?
the only idiot i see is you; but if you are talking about the "Bush" recesssion that ended in the summer of obama's first year; long before even a tiny fraction of the obama "Stimulus" was spent, That's not a "Faux News" talking point; it's a fact as how recessions and recoveries are measured by economists, by consecutive quarters of GDP increase or decrease. put that in your pipe and smoke it
The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
http://www.nber.org/cycles.html
YAWN; like i said; the recession ended in the summer of obama's first term. if you are saying that isnt so post something instead of this tripe that proves it
Very true
8 million jobs have been added since that time and the unemployment rate has dropped 5%
yes loon; the fact there are 13 MILLION MORE ON FOOD STAMPS IN OBAMA'S SEVENTH YEAR; testify to the strength of his economic prowess
You mean AFTER the Dubya economy crashed 9%
The Republican plan crashed the global economy in 2008
...and because LWNJs are so predictable; you are/were about to remind me you can work and still get food stamps?
but it's not like you were going to admit the jobs "created" under obama were minimum wage; isnt that the reason you want to raise it artifically?
idiots and hypocrites
Don't worry the "free market" guys with the lowest sustained (13+ years) tax burden on the top 2% will create millions of jobs every month, any day now
Yeah, real tough ...wow; a tad angry left-wingnut?
must be tough watchin it all fall apart
Reagan ... 8.0%
Obama .... 8.0%
... real tough.
And I'm not angry; I'm shocked that anyone's brain can be so deformed, it translates my words into your conclusions.
YAWN; isnt it you losers always crying about what obama "inherited"?
what did reagan inherit from Carter?
oh and what was Reagan's unemployment at THIS period in his second term?
waiting.............
You mean the "free markets" aren't paying enough to those guys working to survive? HMM
And your plan is to throw these people onto the cold pavement.
100% stupid and liberal of course. The Republican plan is capitalism which just eliminated 40% of the entire world's poverty when China switched to it.
Do you understand?
