Curt, there is no doubt political posturing by the incoming administration, but do you not believe the economic conditions we are facing are not typical of recent recessions? Given the amount of wealth lost in capital markets, equities, commodities and real property, don’t you think the projections about the trillion dollar deficits and lower employment numbers are realistic given the prevailing conditions today?

In another thread I posed a question to another commenter; namely, President Bush inherited a slowdown to the economy and it was called the “Clinton Hangover” and now with Pres Bush leaving office, how long should we calculate the “Bush Hangover”. The economy turns like a supertanker, so when should we begin to blame Obama vs blame Bush?

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Everybody should watch this video to see how wrong Obama is on his stimulus package. O boy, will this guy screw the U.S. economy or what?. A MUST watch:

Peter Schiff vs Obama’s Stimulus Plan 12/08/2008
http://uk.youtube.com/watch?v=118kqCPi6Ow

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It DID work under FDR -

ROOSEVELT PRE-WWII NEW DEAL
1932 Unemployment Rate: 23.6% (12.8 million total unemployed)
1940 Unemployment Rate: 14.6% (8.1 million total unemployed)

If we ignore the part where every previous crash and banking panic in the US took less than eight years for a full recovery, this looks great. Kind of like a doctor who bleeds his patients as therapy taking credit when they recover in spite of it.

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Ummmm Steve, there was this little thing called WWII that had something to do with improved employment rates. We were ramping up production before Pearl Harbor was attacked.
So if not for WWII we would have seen the true failure of trying to spend our way out of a recession/depression.

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It didn’t work under FDR, and it won’t work now.

It DID work under FDR -

ROOSEVELT PRE-WWII NEW DEAL
1932 Unemployment Rate: 23.6% (12.8 million total unemployed)
1940 Unemployment Rate: 14.6% (8.1 million total unemployed)
Unemployment Rate Change: -9.0
Total unemployment percentage change: -36.7%

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The 1981-82 recession last lasted 16 months and was followed by an explosive recovery thanks largely to the Reagan tax cuts

Pethokoukis is a hack. The recession started AFTER Raygun’s tax cuts.
http://radamisto.blogspot.com/2007/11/wingnut-narrative-breaks-down-little.html

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i have no faith in obama, he is more worried about what friggin school his kids go to than what the financial markets are doing. i really hope he falls on his face and then HAS to take credit for this mess. i would hate to see more families lose their homes and their jobs, but i dont want obama to gloat when things do thurn around.

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Yeah, I agree. Pelosi Galore has figured out those are her budgets, her stimulus, her TARP, and now Obama’s overhang.

So when is the foirst two ‘emergency stimulus packages” supposed to begin working. Fool me once, fool me twice, Hey wait a minute not three times in a row.

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And in 20 to 30 years, it won’t matter who was right, because none of these discussions are being recorded in spanish. Today’s events will be the history that is re-written in spanish.

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Curt, I sincerely hope you are right….but you are giving credit to the American people as these are the same ones that put this fool into the position he is in. Lately I have lost a lot of respect for the way Americans think. So many are one-issue voters that they forget about the rest of the issues and therefore cause the rest of the American people so much pain.
Like I said, I just hope you are right and that THEY know who to blame

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