Five years ago this week, the financial markets on Wall Street collapsed, and America fell into the Great Recession, which many might consider the Second Great Depression, now five years long, despite claims the Great Recession is over.
Lack of proper regulation of Wall Street and the banking industry, a result of GOP control of Congress for 12 years, and a Republican President, George W. Bush for 8 years, along with some manipulation by leading Democrats, led to the worst economic outlook since 1941, and even now, five years later, with the improved economic conditions, employment will not return to pre 2008 levels until 2020 at the rate of job creation now existing!
A lot of this reality is due to refusal of the Republican Party to cooperate on legislation to create and encourage jobs, including infrastructure jobs and promotion of education training, and working to return overseas jobs to America.
But also, the Obama Presidency has not worked adequately to reform the banking structure and Wall Street, and the possibility of Larry Summers being Federal Reserve Board Chairman is precisely the WRONG thing to do, as he is part of the problem that led to 2008, and is an arrogant, overbearing, obnoxious individual who should be told to “take a hike”, with Janet Yellen the far better candidate to be the head of the Fed!
So if it going to take a grand total of TWELVE years from beginning to end for this Great Recession to be over, how is that different from the Great Depression which lasted from 1929 to 1941?
Meanwhile, a whole generation of people are suffering in terms of employment, something that will scar their future, and that of the American economy!
This is a very sad, troubling situation that must not be allowed to happen again, but it seems as if NOTHING has been learned!
Well if Bush and Obama followed basically the same policies as Hoover and FDR, how on earth is one to expect a different result? Hoover began the first bailouts, stimulus and interventions as did Bush. FDR after campaigning to do exactly the opposite of Hoover ( who also rose taxes and tarrifs) did a Hoover on steriods. Thus unemployment remained ridiculously high through the 30’s rendering the New Deals ridiculous policies a failure. And now we have Obama following the footsteps of FDR, in other words we have another economic failure with more than 90 million Americans not working!!!
Lulz! FDR got us out of Hoover’s mess!
Exactly right Jane Doe!
http://www.nationalmemo.com/fdr-put-humanity-first-the-sequester-puts-it-last/
Eugene Juan Peron Robert needs to go back to history class.
Hey Guys,
I might add that in FDR’s time he still had U.S. manufacturing base. In the Harvard Classic collection, there in a book called, “Wealth of Nations.”. In summation, the lesson is, the nation that supplies raw materials will be the enslaved poor and the nation that performs the “Value Added” manufacturing into sellable goods from converting the raw material, will be the nation of wealth.
The battle the President has is manufacturing was all sent to China and the Far East by Dubba Bubba Bush. Manufacturing is just now returning back to this country by the industry the President bailed out….the Auto Industry.
Thanks, all of you, for pointing out the drastic differences between the truth and Eugene’s reality. FDR’s New Deal made the Great Depression much less severe, as Obama’s work, without GOP help, has helped an American revival, although certainly not enough. I love how Hoover is made out to be a a progressive, when he was clearly a conservative who finally understood that SOME intervention by government, though belatedly, was necessary in the worst moments of the Great Depression. Eugene lives in his own parallel world, where up is down and in is out, really very sad indeed!
The fact that it was GOP conservative policies that brought us into the Great Depression AND the Great Recession is simply missed by deranged people like Eugene, who want to blame it all on liberals and progressives, and they need to look in the mirror as to why those two economic collapses occurred. But, of course, there is no desire to learn the truth, because it hurts!
Good Morning Professor,
This is so rich that I just had to pass this on. As I came to work this morning, walking to my desk, I saw two coworkers who are of the extreme right views and read the Drudge Report and American Thinker, etc.
I said good morning and commented the morning radio was honoring 9/11.
The one who’s total diet is KoolAid…reply was, “Yep..Hillary… Benghazi….”
My reply was, “So which one did Hillary bomb; the Pentagon or the Trade Towers?”
His answer was, “Both….Hillary…. Benghazi…” nodding his head as to accent and punctuate his complete knowledge on the subject.
I continued on to my office knowing I had to pass this on. As I sat down to my desk the words of Isaac Asimov played through my head, “Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that “my ignorance is just as good as your knowledge.â€
Engineer, this is indeed very sad, but it is the same drivel that Eugene-Juan Peron-Robert advocates–KNOW NOTHINGISM, impressing ignorant people who do not know the truth of the events. Anti intellectualism is rampant on the right, very sad!
Yes Ron, It was as if I could see the robotic preprogrammed tape playing through his head….he had no comprehension of the meaning of the words but the message of “Hillary…. Benghazi…” was well embedded. There was no questioning or employing Critical Thinking, so long in his mind it confirmed that it was Hillary Clinton’s fault. That was all the justification they needed. I said they because the other one standing next to him was nodding an authority approving agreement.
Of course, Engineer, Benghazi COULD hurt Hillary Clinton and MIGHT help some other Democrat to gain an edge for 2016, right or wrong!
Yes Ron I would agree and would also employ Ockham’s Razor and state because Hillary has so much history that could be translated into “baggage”, be it accurate or not, would have a disadvantage running against someone who does not have the same longevity history.
All will be pulled out from the back of the closet again from Whitewater real estate (that after spending $100s of Millions of dollars found no evidence to even prosecute on), to Monica Lewinsk which was Bill’s error in judgment..not hers.
As the French say, ” C’est la vie, C’est la guerre.” (That’s life, This is war.)
That is why, as I postulated in an earlier posting, it MIGHT be better to find someone NOT associated with the past, including Obama and Bill Clinton, so therefore, maybe bypass Hillary and Joe Biden, and look to Martin O’Malley, Elizabeth Warren, Amy Klobuchar, Corey Booker, Andrew Cuomo and others for a nominee in 2016!
Well stated…but keep the others for mentoring…;-)
Look at Detroit progressives, it is what you can achieve when allowed to apply your studied princibles.
Lulz @ Davy No Nothing.
I just realized that prior to the government enduced collapse of the housing market we lived in a laissez fair completely unregulated economy with absolutely zero government agencies and regulatory unaccountable entities. Why.. one would think that none of the permanent bureaucratic citizen tormenting programs elaborated during the 20th century reign of statist policies never really occurred! No FED, no SEC , no EPA ,no FinCEN, no CDFI Fund, no Office of Domestic Finance (which by the way now has an Office of Financial Stability since 2008!!) and I could go on and on.
Eugene, I well know that such agencies have existed, but their membership has been filled under GOP Presidents with the purpose of undermining regulations, like a fox put in a chicken coop to protect the chickens. This happened under Reagan, as much as under Bush II, but apparently, you are clueless to that fact, because you have a closed mind which prefers sarcasm over the facts!
I guess, Eugene, you forgot or never knew, somehow, that Republicans controlled the executive branch from 1981-2009 for 20 of 28 years, plus control of both houses of Congress for 12 years from 1995-2007, meaning even under Bill Clinton in the 1990s, and their goal was, as always, to cut regulations, and the present House of Representatives still is advocating NO regulations! A leopard does not change its spots!
As a matter of fact I will go on and on.Here is a PARTIAL list of our ever growing Federal government. Of course for many of my liberal friends this is not enough becuase we actually lived in a laissez a fair practically governmentless country!
DEPARTMENT OF AGRICULTURE:
Agricultural Marketing Service
Agricultural Research Service
Animal and Plant Health Inspection Service
Center for Nutrition Policy and Promotion
Commodity Credit Corporation
Economic Research Service
Farm Service Agency
Food and Nutrition Service
Food Safety and Inspection Service
Foreign Agricultural Service
Forest Service
Grain Inspection, Packers and Stockyards Administration
National Agricultural Library
National Agricultural Statistics Service
National Institute of Food and Agriculture
Natural Resources Conservation Service
Risk Management Agency
Federal Crop Insurance Corporation
Office of Rural Development
Rural Housing Service
Rural Utilities Service
U.S DEPARTMENT OF COMMERCE:
Bureau of Industry and Security
Economics and Statistics Administration
Bureau of Economic Analysis
Bureau of the Census
Economic Development Administration
International Trade Administration
Invest in America
Office of Travel and Tourism Industries
United States Commercial Service
Minority Business Development Agency
National Oceanic and Atmospheric Administration
National Weather Service
National Oceanic Service
National Geodetic Survey
National Marine Fisheries Service
National Environmental Satellite, Data, and Information Service
National Telecommunications and Information Administration
Patent and Trademark Office
Board of Patent Appeals and Interferences
Trademark Trial and Appeal Board
National Institute of Standards and Technology
National Technical Information Service
U.S. DEPARTMENT OF EDUCATION:
Office of the Secretary (OS)
National Office of Assessment
Educational Testing Service (Contract)
Aspen Institute
Commission of No Child Left Behind
NCLB Office
Title One Office
Office of Communications and Outreach (OCO)
Office of the General Counsel (OGC)
Office of Inspector General
Office of Legislation and Congressional Affairs (OLCA)
Office for Civil Rights (OCR)
Institute of Education Sciences (IES)
National Center for Education Statistics (NCES)
National Assessment of Educational Progress (NAEP)
Education Resources Information Center (ERIC)
Department of Education Structure
Office of Innovation and Improvement (OII)
Office of the Chief Financial Officer
Office of Management
Office of the Chief Information Officer
Office of Planning, Evaluation and Policy Development
Budget Service
Risk Management Service
Chief Operating Officer of the Department of Education|Chief Operating Officer
Office of the Under Secretary (OUS)
Office of Postsecondary Education (OPE)
Office of Vocational and Adult Education (OVAE)
Office of Federal Student Aid (FSA)
President’s Advisory Board on Tribal Colleges and Universities (WHITCU)
President’s Advisory Board on Historically Black Colleges and Universities (WHIHBCU)
Office of the Deputy Secretary (ODS)
Office of Elementary and Secondary Education (OESE)
Office of Migrant Education
President’s Advisory Commission on Educational Excellence for Hispanic Americans
Office of English Language Acquisition, Language Enhancement and Academic Achievement for Limited English Proficient Students (OELA)
Office of Special Education and Rehabilitative Services (OSERS)
National Institute on Disability and Rehabilitation Research (NIDRR)
Office of Special Education Programs (OSEP)
Rehabilitation Services Administration (RSA)
Office of Safe and Drug Free Schools (OSDFS)
Office of Innovation and Improvement
Associated federal organizations
Advisory Councils and Committees
National Assessment Governing Board (NAGB)[1]
National Institute for Literacy (NIFL)[2]
Federal Interagency Committee on Education (FICE)
Federally aided organizations
American Printing House for the Blind
Gallaudet University
Howard University
National Technical Institute for the Deaf
United States Department of Energy:
Blue Ribbon Commission on Nuclear Waste
Office of Nuclear Energy
Energy Information Administration (EIA)
Federal Energy Regulatory Commission (FERC)
National Laboratories & Technology Centers:
Albany Research Center
Ames Laboratory
Argonne National Laboratory
Argonne National Laboratory (West) (now part of Idaho National Laboratory)
Brookhaven National Laboratory
Center for Functional Nanomaterials (under design or construction)
Center for Integrated Nanotechnologies (under design or construction)
Center for Nanophase Materials Sciences (under design or construction)
Center for Nanoscale Materials (under design or construction)
Fermi National Accelerator Laboratory
Idaho National Engineering Laboratory
Lawrence Berkeley National Laboratory
Lawrence Livermore National Laboratory
Los Alamos National Laboratory
Molecular Foundry (under design or construction)
National Energy Technology Laboratory
National Petroleum Technology Office
National Renewable Energy Laboratory
New Brunswick Laboratory
Oak Ridge National Laboratory
Pacific Northwest National Laboratory
Princeton Plasma Physics Laboratory
Radiological & Environmental Sciences Laboratory
Sandia National Laboratories
Savannah River Ecology Laboratory
Stanford Linear Accelerator Center
Thomas Jefferson National Accelerator Facility
Yucca Mountain nuclear waste repository
National Nuclear Security Administration (NNSA)
Power Marketing Administrations:
Bonneville Power Administration
Southeastern Power Administration
Southwestern Power Administration
Western Area Power Administration
United States DEPARTMENT OF HEALTH AND HUMAN SERVICES: THIS IS A GOOD ONE FOR THOSE OF YOU WHO BELIEVED GOVERNMENT WAS ABSENT IN OUR HEALTHCARE SYTEM BEFORE 2010!! LOL!
Agencies
Administration on Aging
Office of the Assistant Secretary for Aging
Office of Congressional and Public Affairs
Office of the National Long Term Care Ombudsman
Office of the Principle Deputy Assistant Secretary
Center for Management and Budget
Office of Administration and Personnel
Office of Budget and Finance
Office of Grants Management
Office of Information Resources Management
Center for Policy, Planning and Evaluation
Office of Performance and Evaluation
Office of Policy Analysis and Development
Office of Program Innovation and Demonstration
Center for Program Operations
Office of American Indian, Alaskan Native and Native Hawaiian Programs
Office of Elder Rights
Office of Home and Community Based Services
Office of Outreach and Consumer Information
Regional Support Centers (I-X)
Administration for Children and Families
Office of the Assistant Secretary
Deputy Assistant Secretary for Policy and External Affairs
Office of Administration Deputy Assistant Secretary
Office of Deputy Assistant Secretary and Inter-Departmental Liaison for Early Childhood Development
President’s Committee for People with Intellectual Disabilities
Principle Deputy Assistant Secretary
Administration on Children, Youth and Families
Office of the Commissioner
Office of Management Services
Children’s Bureau
Division of Child Welfare Capacity Building
Division of Data, Research and Innovation
Division of Policy
Division of Program Implementation
Division of State Systems
Office on Child Abuse and Neglect
Family and Youth Services Bureau
Office of Associate Commissioner
Abstinence Education Division
Division of Youth Development
Family Violence Prevention and Services Division
Mentoring Children of Prisoners
Research and Evaluation Division
Runaway and Homeless Youth
Administration on Developmental Disabilities
Office of the Commissioner
Office of Administration and Planning Staff
Office of Programs
Administration for Native Americans
Office of the Commissioner
Intra-Departmental Council on Native American Affairs
Division of Policy, Planning and Evaluation
Division of Program Operations
Office of Child Support Enforcement
Office of the Director
Office of Audit
Division of Consumer Services
Division of Management Services
Division of Planning, Research and Evaluation
Division of Policy
Division of Special Staffs
Division of State, Tribal and Local Assistance
Office of Automation and Program Operations
Division of Federal Systems
Division of State and Tribal Systems
Office of Community Services
Office of the Director
Division of Community Demonstration Programs
Division of Community Discretionary Programs
Division of Energy Assistance
Division of State Assistance
Office of Family Assistance
Office of the Director
Child Care Bureau
Child Care Regional Office Staff
Division of Policy
Division of Program Operations
Division of Technical Assistance
Temporary Assistance for Needy Families Bureau
Division of Data Collection and Analysis
Division of State Temporary Assistance for Needy Families Policy
Division of State and Territory Temporary Assistance for Needy Families Management
Division of Tribal Temporary Assistance for Needy Families Management
Temporary Assistance for Needy Families Regional Office Staff
Office of Head Start
Educational Development and Partnership Division
Child Well Being Branch
Education Branch
Family Community State Partnership Branch
Policy and Budget Division
Budget Branch
Policy Branch
Program Operations Division
Regional Program Unit (I-X)
Native American and Alaska Native Branch Region XI
Migrant and Seasonal Branch Region XII
Quality Assurance Division
Financial Integrity Branch
Monitoring Branch
Training and Technical Assistance Branch
Office of Legislative Affairs and Budget
Division of Budget
Division of Legislative and Regulatory Affairs
Office of Planning, Research and Evaluation
Office of the Director
Division of Child and Family Development
Division of Economic Independence
Office of Public Affairs
Office of the Director
Division of Public Information
Division of Publications Services
Office of Refugee Resettlement
Office of the Director
Division of Anti-Trafficking in Persons
Division of Budget, Policy and Data Analysis
Division of Community Resettlement
Division of Refuge Assistance
Division of Unaccompanied Children’s Services
Office of Regional Operations
Regional Offices (I-X)
Agency for Healthcare Research and Quality
Office of the Director
Center for Delivery, Organization and Markets
Center for Financing, Access and Cost Trends
Division of Modeling and Simulation
Division of Social and Economic Research
Division of Statistical Research and Methods
Division of Survey Operations
National Advisory Council for Healthcare Research and Quality
Center for Outcomes and Evidence
Center for Primary Care, Prevention and Clinical Partnerships
Center for Quality Improvement and Patient Safety
Office of Communications and Knowledge Transfer
Office of Extramural Research, Education and Priority Populations
Office of Performance Accountability, Resources and Technology
Centers for Disease Control and Prevention
Office of the Director
Office of Diversity Management and Equal Opportunity
Center for Global Health
National Institute for Occupational Safety and Health
Office of Infectious Diseases
National Center for Emerging and Zoonotic Infectious Disease
National Center for HIV/AIDS, Viral Hepatitis, STD and TB Prevention
National Center for Immunization and Respiratory Diseases
Office of Noncommunicable Diseases, Injury and Respiratory Health
National Center for Birth Defects and Developmental Disabilities
National Center for Chronic Disease Prevention and Health Promotion
National Center for Environmental Health/Agency for Toxic Substances and Disease Registry
National Center for Injury Prevention and Control
Office of Public Health Preparedness and Response
Office of State, Tribal, Local and Territorial Support
Office of Surveillance, Epidemiology and Laboratory Services
National Center for Health Statistics
Office of Surveillance, Epidemiology, Information, Laboratory Science and Career Development
Healthy Marriage Initiative – WTF????????
Low Income Home Energy Assistance Program
State Children’s Health Insurance Program
Flu program
Arthritis and Musculoskeletal Interagency Coordinating Committee
Office of Child Development
Welfare commission
Office of economic wanting
Office of Community Services Block Grant (OCS)
Centers for Medicare and Medicaid Services (CMS)
Food and Drug Administration (FDA)
Health Resources and Services Administration (HRSA)
Indian Health Service (IHS)
National Institutes of Health (NIH)
Office for Civil Rights (OCR)
Office of Minority Health (OMH)
Program Support Center (PSC)
Substance Abuse and Mental Health Services Administration (SAMHSA)
Office of the National Coordinator for Health Information Technology
U.S. DEPARTMENT of HOUSING and URBAN DEVELOPMENT:
Agencies
Federal Housing Administration
Federal Housing Finance Agency
Offices
Center for Faith-Based and Neighborhood Partnerships (HUD)
Departmental Enforcement Center
Office of Community Planning and Development
Office of Congressional and Intergovernmental Relations
Office of Equal Employment Opportunity
Office of Fair Housing and Equal Opportunity
Office of Field Policy and Management
Office of the General Counsel
Office of Healthy Homes and Lead Hazard Control
Office of Hearings and Appeals
Office of Labor Relations
Office of Policy Development and Research
Office of Public Affairs
Office of Public and Indian Housing
Office of Small and Disadvantaged Business Utilization
Office of Sustainable Housing and Communities
Corporation
Government National Mortgage Association (Ginnie Mae)
Lets not forget the United States Department of the Treasury!
Agencies and Bureaus
Alcohol and Tobacco Tax and Trade Bureau
Bureau of Engraving and Printing
Bureau of the Public Debt
Community Development Financial Institution Fund
Federal Consulting Group
Financial Crimes Enforcement Network
Financial Management Service
Internal Revenue Service
Office of the Comptroller of the Currency
Office of Financial Stability
Office of Thrift Supervision (being abolished in 2011)
United States Mint
[edit]Offices
Office of Domestic Finance
Office of Economic Policy
Office of International Affairs
Office of Tax Policy
Office of Terrorism and Financial Intelligence
Treasurer of the United States
And lets not forget our dear Federal Goverment regulations of for example the Banking industry. Bear in mind these are just the titles. YEAH Pretty much non existent right?
SELECTED CFPB REGULATIONS
Part 1002 (Regulation B) Equal Credit Opportunity Act
Part 1003 (Regulation C) Home Mortgage Disclosure
Part 1004 (Regulation D) Alternative Mortgage Transaction Parity
Part 1005 (Regulation E) Electronic Fund Transfers
Part 1006 (Regulation F) Fair Debt Collection Practices Act
Part 1007 (Regulation G) S.A.F.E. Mortgage Licensing Act—Federal Registration of Residential Mortgage Loan Originators
Part 1008 (Regulation H) S.A.F.E. Mortgage Licensing Act—State Compliance and Bureau Registration System
Part 1009 (Regulation I) Disclosure Requirements for Depository Institutions Lacking Federal Deposit Insurance
Part 1013 (Regulation M) Consumer Leasing
Part 1014 (Regulation N) Mortgage Acts and Practices—Advertising
Part 1015 (Regulation O) Mortgage Assistance Relief Services
Part 1016 (Regulation P) Privacy of Consumer Financial Information
Part 1022 (Regulation V) Fair Credit Reporting
Part 1024 (Regulation X) Real Estate Settlement Procedures Act
Part 1026 (Regulation Z) Truth in Lending
Part 1030 (Regulation DD) Truth in Savings
SELECTED FRB REGULATIONS
Part 201 (Regulation A) Extensions of Credit by Federal Reserve Banks
Part 204 (Regulation D) Reserve Requirements of Depository Institutions
Part 206 (Regulation F) Limitations on Interbank Liabilities
Part 207 (Regulation G) Disclosure and Reporting of CRA-Related Agreements
Part 208 (Regulation H) Membership of State Banking Institutions in the Federal Reserve System
Part 209 (Regulation I) Issue and Cancellation of Federal Reseve Bank Capital Stock
Part 210 (Regulation J) Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire
Part 211 (Regulation K) International Banking Operations
Part 212 (Regulation L) Management Official Interlocks
Part 214 (Regulation N) Relations with Foreign Banks and Bankers
Part 215 (Regulation O) Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks
Part 218 (Regulation R) Exceptions for Banks from the Definition of Broker in the Securities Exchange Act of 1934
Part 219 (Regulation S) Reimbursement for Providing Financial Records; Recordkeeping Requirements for Certain Financial Records
Part 220 (Regulation T) Credit by Brokers and Dealers
Part 221 (Regulation U) Credit by Bankers and Persons other than Broker Dealers for the Purpose of Purchasing or Carrying Margin Stock
Part 222 (Regulation V) Fair Credit Reporting Act
Part 223 (Regulation W) Transactions Between Member Banks and Their Affiliates
Part 224 (Regulation X) Borrowers of Securities Credit
Part 225 (Regulation Y) Bank Holding Companies and Change in Bank Control
Part 227 (Regulation AA) Unfair or Deceptive Acts or Practices
Part 228 (Regulation BB) Community Reinvestment
Part 229 (Regulation CC) Availability of Funds and Collection of Checks
Part 231 (Regulation EE) Netting Eligibility for Financial Institution
Part 232 (Regulation FF) Obtaining and Using Medical Information in Connection with Credit
Part 233 (Regulation GG) Prohibition on Funding of Unlawful Internet Gambling
Part 235 (Regulation II) Debit Card Interchange Fees and Routing
Part 237 (Regulation KK) Margin and Capital Requirements for Covered Swap Entities
Part 238 (Regulation LL) Savings and Loan Holding Companies
Part 239 (Regulation MM) Mutual Holding Companies
Part 240 (Regulation NN) Retail Foreign Exchange Transactions
Part 241 (Regulation OO) Supervised Securities Holding Company Registration
Part 243 (Regulation QQ) Resolution Plans
SELECTED FDIC REGULATIONS
Part 328 Advertisement of Membership
Part 330 Deposit Insurance Coverage
Part 370 Temporary Liquidity Guarantee Program
Lulz! Eugene Juan Peron Robert is hilarious today!
Oh I am not excusing Republicans of blame either. Why even Reagan had to fight hard against the status quo withing the Republican party. Of all those Republican Presidents only Reagan was truly consertvative, the rest just paid lip service to conservative values and policies as does the Republican leadership today. So the issue is not electing Republicans. We had 8 yrs of Bush, of which 6 Republicans had Congress and the government together with regulations kept growing. Bush was the biggest spender in history only surpassed by Obama. And even today , right now at this moment, we see the Republican leadership in essence defending Obamacare, another huge wasteful useless authoritarian government program. They had endless and totally useless votes repealing it but once they have a real opportunity to delaye it by defunding certain provision, what do they do? They balk! So no I am not letting Republicans off the hook. They are together with Democrats the status quo for big government. And thanks to that, this is where we are today.
Yes, Eugene, we are “there” today with 315 million people, not the 4 million in 1790, the 31 million in 1860, the 120 million in 1930, or the 200 million in 1970!
And even with that, notice how the top one percent have 99 percent of the growth in income since the Great Recession in 2008, and the rest of us have one percent, and that is just fine, right, with GOP attitudes on taxation and spending, right? Keep on helping the corporations, and billionaires and millionaires, and to hell with us, the ordinary people! And cut the life support for those devastated by GOP policies since Reagan!
Oh, and Reagan economic policies TRIPLED the national debt in eight years, with most of the spending on defense, and cutting social programs, But facts do not matter, now do they, Eugene, heh?
When Carter left office, we had $1 trillion national debt–when Reagan left, it was $3 trillion–by time passing under Bush I and Clinton, it was $5 trillion–under Bush II, it DOUBLED to more than $10 trillion! So elementary math shows $8 trillion of debt increase from 1981-2009 was under GOP Presidents, and Clinton even balanced the budget a few times, so who is responsible for national debt growth–the Republican Party, which controlled the government for 12 years in both houses of Congress!
Since the GOTea doesn’t want any rules, they are a bunch of anarchists.
The deficit has shrunk to a 5 year low under Obama.
http://www.politicususa.com/2013/09/13/republicans-threaten-raise-debt-ceiling-deficit-smallest-years.html
http://planetpov.com/2013/09/13/will-the-tea-party-force-a-government-and-gop-shut-down/
Heard on the news at lunch that al-Qaeda is threatening more attacks to ruin our economy.
http://www.cbsnews.com/8301-202_162-57602799/al-qaeda-boss-ayman-al-zawahri-marks-9-11-with-call-for-more-attacks-on-u.s-soil/
They don’t need to do that. The GOTea is doing it for them.
The accomplishment of the lowest deficit in five years is overlooked by the Tea Party extremists, but in reality, they are the true terrorists in America, undermining its recovery, and if GOP leadership does nothing to stop them, then the future of the Republican Party is in tatters!