Jophiel wrote:
varusword75 wrote:
They sabotaged the last two years of the W economy
lulz
The Bush "economy" was never anything more than a housing bubble.
Oh BS! If that was true, then how come when said bubble collapsed, the highest decreases in federal revenues were about $400B/year? And good portion (about a third) of those figures (in 2009/2010) was in the form of Obama era tax credits passed in reaction (over-reaction?) to the economic situation. The reality, which those on the left desperately want to avoid facing, is that absent spending by the Dems after TARP, the economy would have lost about $250B/year in revenues for a couple years, we'd have spent an extra $450-500B over that same time period, and by mid to late 2010, we'd have been in full recovery, with nearly all of that TARP money paid back, and revenues coming back up, and jobs becoming available (and we likely would not have hit the same level of unemployment either).
The net effect would have been a period of 2-3 slow years, and about half a trillion dollars of extra debt, but an otherwise recovered economy. What we got instead is a yearly deficit of 1.2-1.5 Trillion dollars, a total increase to our debt of over 3.5 Trillion, and 3 years later we're still sitting at 9% unemployment. What the Dems don't want people to realize is that their "cure" was worse than the disease. Much much worse.
Edited, Jun 6th 2011 2:15pm by gbaji