This Is A Bush Recovery
Thursday, October 29th, 2009 @ 9:36 am | Politics
FIRST! Fellow conservatives, I charge you to rewrite this story from notorious liberal-media mavens at Forbes and excise any mention of the stimulus. Clearly the hero here is our great President Bush! His zombie econ recovery powers are without peer! Tell the world how President Bush had to first harm our economy to later save it once he’d been out of office for a year! Spin, my friends! Spin like tops on a slick surface!
October 29th, 2009 at 10:41 am
It’ll be icing on the cake to hear wingers take credit for TARP.
October 29th, 2009 at 10:53 am
The growth is good news, but I wouldn’t go bragging on it. According to the report, growth was driven by consumption, exports, federal government spending, home building and inventories. Consumption contributed 2.4% of the growth, with a particular boost in autos.
The Cash for Clunkers program cost taxpayers about $24,000 per vehicle sale.
And federal government spending inflated the number, keep your shorts on.
Why is the government still printing money? Hmmmmmmm?
Why aren’t banks lending it? Hmmmmmm?
October 29th, 2009 at 11:02 am
Growth was driven by consumption, exports, federal government spending, home building and inventories, you say!? Now that you put it that way I can understand your malcontent. That’s ridiculous!
October 29th, 2009 at 11:12 am
Not all financial institutions are the same – many of them ARE lending.
October 29th, 2009 at 11:55 am
Mike,
The federal government spending money, our money, money the country doesn’t have, is like taking out a loan and lying to your wife in saying you got a pay raise. Much of the consumer spending was based in auto sales, which cost taxpayers $24,000 per vehicle.
My goodness do some actual thinking….
October 29th, 2009 at 12:16 pm
Much of the consumer spending was based in auto sales, which cost taxpayers $24,000 per vehicle.
So the stimulus had the desired effect. I’m glad we could come to that agreement.
October 29th, 2009 at 12:52 pm
mike g with the severe pwnage there
October 29th, 2009 at 3:24 pm
[i]Why is the government still printing money? Hmmmmmmm?[/i]
Because that’s the governments job?
October 29th, 2009 at 3:27 pm
The Obama government has overstated by thousands the number of jobs it has created or saved with federal contracts under the president’s $787 billion recovery program, according to the Associated Press.
This morning on the ‘recovery.org’ Web site, the government was citing 30,383 as the actual number of jobs linked so far to stimulus spending.
Do the math….. that’s an abysmal job creation cost figure. AND the number of jobs created claim by the Obama folks is INFLATED.
http://IAMAMASSIVELINKSPAMMERsweetness-light.com/archive/1-in-6-stimulus-jobs-was-made-upILOVETOSPAMLINKS
October 29th, 2009 at 4:02 pm
Glenski,
That the Obama government is printing money at about 120% over current supply need is a problem, a BIG problem. In the 1970′s the government printed money at a rate of 13% over supply need. That resulted in 20% interest rates to recover the overstock. Are you going to buy at house or a car at 40% interest? Probably not.
Try doing some real thinking, your buddies Mike and Jeromy seem incapable.
October 29th, 2009 at 4:03 pm
I found this just for Group2012:
“The Labor Department said Thursday its tally of newly laid-off workers seeking unemployment insurance fell by 1,000 to a seasonally-adjusted 530,000. Analysts expected a steeper drop to 521,000, according to a survey by Thomson Reuters.”
By your logic, wouldn’t this count as the media trying to paint a gloomier picture thus proving their right-wing bias?
October 29th, 2009 at 4:07 pm
Meanwhile, the stock market is up, jobless claims are down, exports are climbing. Jeez, Group, why do you want to see Americans fail so bad?
October 29th, 2009 at 4:59 pm
My department just laid off another 8% of it’s workforce today!
Gratz on this recovery.
I can’t wait till Obamacare is passed and The Principal goes under and Iowa loses 8,000 jobs, they’ll all have healthcare though, of course they’ll need it because they’ll eating catfood.
October 29th, 2009 at 5:06 pm
What Troll2012 is saying is that since many of the people who used the Cash for Clunkers program were going to buy a car anyway, the numbers for each new car purchased can be freely inflated.
Of course, what it did was distribute money far more widely. Even if it gave people $4000 extra to spend on something else, it was still stimulation.
It seems funny that we first heard that a stimulus doesn’t work, but then when it does, we hear “yeah it’s just the stimulus!” The deuce you say!
Of course, Troll2012 can’t attribute all the growth to the Cash for Clunkers program, but that has, somehow, been a target for the right.
Maybe somebody can break it to them that people loved the program?
Troll2012′s dilemma is that most economic indicators are rising, and unemployment should improve in time, and he’s bet a whole lotta rhetorical chips on some imaginary Obama recession that doesn’t ever go away.
October 29th, 2009 at 5:19 pm
What Jeromy fails to acknowledge is that this is credit card cash advance kind of money, not real income.
October 29th, 2009 at 5:34 pm
The notion that the stimulus has worked should be questioned. The Obama government has lied about how many jobs have been created, and what little the package has ‘stimulated’ still leaves us with quadrupled deficits and foreign debt. That’s not progress.
$787 billion recovery program, less than 30,000 jobs created. If you believe in Obama, you’ve been duped.
October 29th, 2009 at 6:01 pm
You post daily Limbaugh quotes on your website. Who’s the dupe?
October 29th, 2009 at 6:01 pm
ROFLMAO people loved cash-for-clunkers! So that means spending 14K to get 4 worked out smashingly! And that doesn’t even count the cars that where destroyed, for those of you that missed econ 101, that was value that was physically destroyed by the fed. Again in econ 101 it’s called window smashing your way to recovery. The window maker down the street needs money, so the government goes around town breaking windows, hey he’s in the money now! Let’s poll the wondow maker, sir how do you like the recovery project? “Fantastic I’ve never been richer!” And there you have it folks the recovery worked!
October 29th, 2009 at 6:25 pm
“Our research indicates that without the Cash for Clunkers program, many customers would not have traded in an old vehicle when making a new purchase,” Edmunds.com Senior Analyst David Tompkins, PhD told AutoObserver.com. “That may give some credence to the environmental claims, but unfortunately the economic claims have been rendered quite weak.”
http://IAMAMASSIVELINKSPAMMERcoralvillecourier.typepad.com/community/2009/10/cash-for-clunkers-results-finally-in-taxpayers-paid-24000-per-vehicle-sold-reports-edmundscom.htmlILOVETOSPAMLINKS
October 29th, 2009 at 6:28 pm
NDC,
ABSOLUTELY! Liberals can’t handle the truth and Rush dishes it out everyday.
Delusional president takes our money
“Americans are in a state of agitated unease. They’ve had enough of this delusional president who keeps demanding their lunch money and tax money while destroying their private sector.” – Rush Limbaugh
http://IAMMASSIVELINKSPAMMERcoralvillecourier.typepad.com/community/quotables/ILOVETOSPAMLINKS
October 29th, 2009 at 6:47 pm
Awesome. More link spam.
October 29th, 2009 at 9:07 pm
Look, guys, we’ve had a lot of financial recessions and depressions around the globe and some time to study the numbers. There’s strong evidence to believe that in cases where the government did nothing, things only got worse and the recovery took longer. Where the government acts quickly, the worst is spared.
Now you guys think that if I stick $4,000,000 in the hands of a billionaire, he’ll invest it wisely and all will be well.
Yet you hate the possibility that I could stick $4000 in a middle class man’s hands and he’d plug it back into the economy.
It’s a rather simple theory: rev up the economy and try to get it to move on its own. You prime the pump. The $4000 a car buyer saves goes all over town, into local hands. People see a little more green in their hands, confidence improves, and profit spreads upwards and downwards. Tax revenues increase with a rebounding economy, and deficits become easier to pay off. God forbid we get a surplus again and a Republican takes office…it’ll be more tax cuts and deficit than we’ll ever handle.
It’s just rather funny to see GDP skyrocket this quarter and hear you guys still screaming. “Obama is destroying the country and stealing all your money!” Wake the hell up already. Rush Limbaugh doesn’t know intellectual honesty. He doesn’t debate. He sits in his studio with his finger on the mic button taking heavily screened calls. He sits there and massages a daily cult, and then those yahoos sit around pretending liberals think Obama is Teh One.
Limbaugh is god of your world, Group, and it shows in your argumentation. You’ve not a single standard in the world, other than partisan benefit.
You’ve got improving economic numbers and all you can do is pick one stimulus program that you don’t think worked…to explain the improving numbers. Think the bump is illusion? Perhaps. I wouldn’t be so sure it’ll get much bigger soon. But are you really going to spend the next seven years arguing with every rising statistic?
Oh, wait…I guess that’s when the right will drop economic issues and start ranting about gays or brown people again, to drum up enemies that will get the base frothing again.
October 29th, 2009 at 9:41 pm
Y’all are doing a great job of overlooking that passage…let’s keep’em coming!
October 29th, 2009 at 10:57 pm
Here’s a post I wrote about Reagan’s stimulus package:
http://iowaliberal.com/?p=2544
And I’m still waiting for Troll2012 to address comment #11. He kicked up a considerable amount of dust over perceived bias by the financial press who he claimed were providing cover for poor jobs numbers in order to protect Obama. The evidence of which was “worse than expected” verbiage found in feverishly linked to economic reports:
That’s a high number, but the Obama loving media is trying to sugar coat reality with headlines like:
Bloomberg: U.S. Initial Jobless Claims Fall More Than Projected
Thomson Reuters: Jobless Claims Fall to 550K
Ladies and gentlemen, 550,000 is a lot of people going on unemployment and for the media to try and paint a rosy picture on the job situation in this country is an irresponsible thing to do.
Now that these outlets are reporting “less than projected” numbers I’m wondering if 2012 will have the honesty to tell us that either he was wrong or that the media is unfairly biased towards the pessimists.
October 30th, 2009 at 4:49 pm
[...] UPDATE: Of course, we found out today that GDP rose 9.9% to 3.5% after being -6.4%. Very Bad News For Democrats! Find out why here. [...]