A reminder of leadership

[Guest]

Keep in mind when he took office, the economy was just as bad then as it is now. After it came years of economic growth and the cold war was won. A true message of hope and change. Quite different from the messages of late.


http://www.youtube.com/watch?v=IleiqUDYpFQ

http://www.youtube.com/watch?v=R5cEhtge_BE&feature=related

http://www.youtube.com/watch?v=m8cEV7MMr80&feature=related

[Guest]

Good reminder. And that after the last most liberal president we ever elected until now. 21% interest rates and 12.5% unemployment. Thanks to Jimmy Carter.

[Guest]

Don't know what history book you have been reading but I can't remember in my lifetime, the mess that has been created during the past eight years. A quick look at some historical information found the following:

"During Ronald Reagan's first presidential term, from 1980 to 1984, the nation endured two years of severe recession followed by two years of robust recovery. The inflation rate was brought down, and millions of new jobs were created. The economic boom of the early and mid-eighties, however, coincided with a number of alarming developments. Federal budget deficits, caused by dramatic increases in the military budget and by rising costs of entitlement programs such as Medicaid and Medicare, averaged more than $150 billion annually. By 1992, the total deficit reached $290 billion, or $1,150 for every American. In addition, corporate debt rose dramatically, and household borrowing grew twice as fast as personal income. The eighties also witnessed a crisis in the banking industry, caused by a combination of factors, including high inflation and interest rates, problem loans to developing countries, and speculative real estate ventures that caused thousands of banks to fail when the real estate boom of the early eighties collapsed"

Here is the link for the full article:

http://www.nationsencyclopedia.com/Americas/United-States-ECONOMY.html

Seems to me that history repeated itself and the real recovery didn't occur until the 1990's.

[Guest]

So what.

Obama's going to run up our national debt to over two trillion and everyone is cheering. 290 billion is pocket change. Heck, after the last 350 billion dollar bail out they totally lost 63 billion and don't have a clue where it went.

Don't forget, congress spends the money. Reagan had a democratic congress, just like we had the last two years under Bush. And in fact until the early 90's, the Democrats controlled the purse strings for 40 years. That would have been the 21% interest rate and 12.5% unemployment days.

[Guest]

The point I was trying to make was:

The economy was not as bad then as it is now and there were not years of economic growth during the reagan administration.

Don't change the subject when you can't substantiate general statements that you are making.

By the way, the $350 billion was being administered by the Bush administration, which was also responsible for lack of oversight of the financial services industry by the SEC and Fed.

[Guest]

There was not economic growth during the Reagan years? You need to check your facts my friend.

BTW, Treasury Secretary Paulson himself had 100% control of the 350 billion stimulus package and how it was spent. That was a stipulation demanded by yes the democratic controlled congress. Bush didn't control a dime of that money, congress did.

Anyway I should just let this whole thing drop. Good luck with your new president, congress and Nancy Pelosi. I'm sure you will be very happy with the outcome.