Wandering Idiot
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Surely something dumber has come up since my apparent forgetfulness for STDs and doctor visits.
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Reg. Date: Jul 2003
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Reply 18 of 31 (Originally posted on: 11-04-04 09:04:25 PM)
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Quoted from Socrateius:
Bull, Bush kicked ass with the economy. Remember that good old recession we got because Clinton didn't know what the hell he was doing while he was riding on the economic boom from Reagan and Bush Sr's terms? Yeah, Bush made that recession his bitch. Kerry would've plunged the US into another recession. If I were to vote for Kerry it would've been for his position on civil rights and foreign relations, he would've done horrible with the Economy. If I were to vote for Bush, it would've been for the economy. Instead, I voted for who would do well with both: good old Badnarik.
So, wait, you're telling me that millions of job losses, rising health care and fuel costs, rapid inflation and a multi-trillion dollar deficit is not a recession?
Tax cuts and making war and two things you can't do at once. War costs money, money is earned by taxes. Without the money you create a deficit. When deficits are created, along with job losses and rapid inflation, you have a recession. The symptoms of a recession are as follows:
-People buying less stuff
-Decrease in factory production
-Growing unemployment
-Slump in personal income
-An unhealthy stock market
Hmm, seems to me that we are in a recession. National debt is not at 7.5 Trillion dollars to boot, making each Americans' share roughly $25,000 apiece. 1[/whisper]
As far as what happened while Clinton was in office, and slightly before when Bush Sr. was in, I present this: 2[/whisper]
Quote:
The NBER's Business Cycle Dating Committee has determined that a peak in business activity occurred in the U.S. economy in March 2001. A peak marks the end of an expansion and the beginning of a recession. The determination of a peak date in March is thus a determination that the expansion that began in March 1991 ended in March 2001 and a recession began. The expansion lasted exactly 10 years, the longest in the NBER's chronology
Oh, but wait, that's not all. Here's a little tidbit of info showing that middle-class americans are making less money each year: 3[/whisper]
Quote:
Median household income, 2003 dollars
1999 $44,922
2000 $44,853
2001 $43,882
2002 $43,381
2003 $43,318
In fact, the same site that produced that information also stated this:
Quote:
It seems to me that we all need to be a little clearer about what we mean when we talk about recession and recovery. Yes, the "economy" may be expanding. Middle-class wages aren't. For my money, the latter is more important than the former.
The media and government may not have announced that we are once again in a recession, but it doesn't take more than to look at the facts to know that we are in one.
[whisper]1 http://www.brillig.com/debt_clock/
[whisper]2 http://www.nber.org/cycles/november2001/
[whisper]3 http://cascadiascorecard.typepad.com/blog/2004/09/recession_and_r.html
Only the dead have seen the end of war.
-George Santayana
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