Are You Better Or Worse Off Since B.O. Became Prez?

[Bobl]

sstashmoo:
Your quote: "...When Reagan took office the economy did an immediate 180 for the better, you wingers can say what ever you want, I know I was there. There was optimism in the air immediately. It isn't the same now. It's hard to be optimistic when the real numbers like unemployment, sing a different song..."

Is factually wrong.
Facts: The recession of 1982, one of the most severe ever, happened in Reagan's second year in office. It happened following his tax cuts and deregulation.

I was there, too. More important, the facts are there if you do research rather than count on your personal beliefs or memories.

We can agree or disagree, but the two facts remain, and can be confirmed.

[rb336]

sstashmoo:
Your quote: "...When Reagan took office the economy did an immediate 180 for the better, you wingers can say what ever you want, I know I was there. There was optimism in the air immediately. It isn't the same now. It's hard to be optimistic when the real numbers like unemployment, sing a different song..."

Is factually wrong.
Facts: The recession of 1982, one of the most severe ever, happened in Reagan's second year in office. It happened following his tax cuts and deregulation.

I was there, too. More important, the facts are there if you do research rather than count on your personal beliefs or memories..

not to mention his voodoo econ set the stage for what we are experiencing now, via PAYING manfacturers to move overseas, allowing massive conglomerations in key industries, driving down real wages [[it can also be factually verified that except for three/four years in the end of the clinton presidency, there hasn't been a real increase in wages since the 70s)

[Sstashmoo]

I'm talking about from my vantage here in Detroit 29 years ago. The recession hit here in the late 70's. Detroit's economy seemed to change direction as soon as Reagan was elected. That's how I remember it. Right wrong or indifferent.

You seem to be somehow implying his tax cuts and deregulation caused a recession in 1982. How did it correct itself in 83?

[rb336]

ps --

I hear maples are losing their leaves already in canada and the Northeast. jump on those syrup futures!

[Sstashmoo]

Hell, I guess it's just everyone's fault. No Government we've had in the last 50 years has really done much to help it seems. Cater to the lobbyists, f the commoners.

[firstandten]

I'm talking about from my vantage here in Detroit 29 years ago. The recession hit here in the late 70's. Detroit's economy seemed to change direction as soon as Reagan was elected. That's how I remember it. Right wrong or indifferent.

You seem to be somehow implying his tax cuts and deregulation caused a recession in 1982. How did it correct itself in 83?

I understand a combination of deficit spending[[stimulus package? naw most likely defense spending) and a reduction in interest rates got us out of that recession.

However the die was cast and over time those policies along with Clinton's policies put us where we are today even though Clinton did balance the budget.

[Bobl]

I'm talking about from my vantage here in Detroit 29 years ago. The recession hit here in the late 70's. Detroit's economy seemed to change direction as soon as Reagan was elected. That's how I remember it. Right wrong or indifferent.

You seem to be somehow implying his tax cuts and deregulation caused a recession in 1982. How did it correct itself in 83?

You missed the point, again. I implied nothing. I stated two facts. I suggested that while we can disagree, we should use facts, not quaint recollections of a bygone era.
You reply with "...Detroit's economy SEEMED to change direction as soon as Reagan was elected..."
It did not. The unemployment rate reached nearly 20 per cent in Detroit.
Facts.

[rb336]

You seem to be somehow implying his tax cuts and deregulation caused a recession in 1982. How did it correct itself in 83?

yes, his tax cuts [[and other policies) DID cause the 1982 recession, and he started huge deficit spending in 82/83 that lasted through the first cinton term

[ccbatson]

How could tax cuts cause a recession? What causes economic activity? Investment and consumption by people. Less taxes means more money to spend and invest.

[Sstashmoo]

Quote: "How could tax cuts cause a recession?"

I was wondering that myself.

[Maof]

somewhat better. it 's gonna take a while to get things in order from the "previous situation".

[firstandten]

yes, his tax cuts [[and other policies) DID cause the 1982 recession, and he started huge deficit spending in 82/83 that lasted through the first cinton term

The cliff notes version

The 1980's recession was caused by 'contractionary' monetary policies initiated by the Federal Reserve to curb high inflation. These policies were generally unsuccessful and unemployment skyrocketed.

[rb336]

more like a "revisionist" version. the 'contractionary' monetary policies caused the milder 1980 recession, but were only tangental in the 82

[oladub]

Because everyone suddenly has more money to spend, tax cuts boost the economy in the short run. However, if there is not a simultaneous spending cut, the tax cuts will result in more debt. Since the debt has to eventually be paid, the extra interest on the extra debt will, in the long run, slow down the economy in the long run. Such tax cuts are just a form of deficit spending.

When Paul Volker ran the Fed, he did raise interest rates to successfully conrol runaway inflation. This did cause a recession. It was a tradeoff.

[Lorax]

How could tax cuts cause a recession? What causes economic activity? Investment and consumption by people. Less taxes means more money to spend and invest.

When those cuts are only for the wealthy, as is the case with the Tush Tax Cuts, then the wealthy may spend a little of it at Neiman Marcus, or buy a few junk bonds or mortgage backed securities.

Proof of the failure of this is what we are living through now. The Tush cuts were designed as a freebie to the elite "base" that Tush so lovingly joked about. This is money we needed to fight his illegal oil wars, so now we're saddled with the mountains of debt accrued under the Tush Regime.

[Sstashmoo]

Quote: "The real problem was not the persons who held the presidency, but the 1999 deregulation of the financial industries. It is simply illogical to put the fox in charge of the hen house,"

Like Obama granting even more power to the unconstitutional Federal Reserve?

[Danny]

When Barack Obama was a candidate for the U.S. presidency, I didn't support him due to political performace. But when he became the first black President of the United States, everyone especially in all thr black communities were partying like its 1999. When he step up for free socialized universal health care, everyone thinks he's a socialist a communist! So he is. Therefore most folks appointed him the first Premier of the new Pre-ferderative Socialist Democratic Communist United States of Amerika. Most people like his pre-Soviet ideology, maybe it might work for this free nation or maybe it won't. But people need change and we got it for better or for worse.

Take a look at this Our new national anthem:

http://www.youtube.com/watch?v=mzXiKJuoPeQ&feature=fvw

WORD FROM STREET PROPHET


God Bless 'Amerika' COMRADS!

[Danny]

Someone would say this:

I pledge the allegiance to the flag of the Pre-federative Socialist Democratic Communist United States of Amerika. And to Barack Obama for which he stands. One nation under him, undivisible for proletarian liberty for all.