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A Man of Wealth and Taste
 
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Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
OK lets for the sake of argument say Kerry's numbers on jobs lost are accurate....Why is Bush the first prez since Hoover to lose jobs....

Lets look at the last prez to lose jobs...Herbert Hoover....Hoover was caught by the Great Depression 10 months after taking office..(so he can hardly be blamed for the Depression but can be held accountable for not relieving it). Look at what Bush was caught by .....a DOT COM Bubble bursting in the Stock Market...911 which caused 1M jobs to evaporate and put us into a war, the corporate scandals which was a further crisis of confidence in our economic/financial system.... All of which add up to 3 straight years of decline in the Stock Market, making it the worst Bear Stock Market since the Great Depression BTW The stage was set for these crisis to unfold by the previous administrations policies...

So the long and short of it is Bush was faced with a Depression and NOT a Recession, one which paralleled the Great Depression...

SO it is quiet remarkable that the USA is doing as well as it is economically. This is largely due to the decrease in interest rates to the lowest rate in 40 years to keep the system liquid, lowering taxes which keep the money in the hands of the consumer, and keeping Federal spending high....All these policies were needed to keep the USA out of a all out DEPRESSION. As Alan Greenspan said it is remarkable that the depth of the recession was as shallow and short as it was....
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Old 10-14-2004, 02:15 PM
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