Originally Posted by
reefraff
http:///forum/post/2756177
When Clinton first got elected and had a Democrat congress things went to crap bad enough that the Republicans took control in a major swing of power that was unprecedented. The Republicans drug Clinton kicking and screaming as they cut the size of government in 95 which is what led to the balanced budgets Clinton gets credit for. Track the stock market during the 90's and watch when it took off.
Except for about a year the Republicans have controlled the house and senate under Bush until January of 07. While the Republicans did spent too much the Economy was expanding so things weren't bad at the time. The Republicans didn't lose control because the economy was doing bad, it was because some Republicans got greedy and were exposed and because the war was going bad at the time. All the economic factors looked good until about half way through 07. Since that time what great initiative have the Democrats come up with to solve the economic slide that started after they gained control?
In all the time during Bushes term when the economy was rebounding from the Clinton recession, the 9-11 attacks and corporate scandals and led to record low unemployment the dems and their media allies only wanted to talk about the war. Now that the war is going well and the economy is on a downturn all they want to talk about is how bad the economy is and exaggerate that.
So the Dems take over Congress in '07, and the economy immediately began to slide? Come on. They got stuck with what the Reps gave them, and you expect them to turn it around in a year and a half. The economy was on a downslide before the Dems took over. One of the reasons the American public pushed the Reps out of Congress. It wasn't only because of the war. Economic trends don't change that dramatically in such a short period of time. As a matter of fact, the Dot.com bust started under the Reps regime:
The U.S. economy shrank in three non-consecutive quarters in the early 2000s (the third quarter of 2000, the first quarter of 2001, and the third quarter of 2001). According to the National Bureau of Economic Research (NBER), which is the private, nonprofit, nonpartisan organization charged with determining economic recessions, the U.S. economy was in recession from March 2001 to November 2001, a period of eight months. However, economic conditions did not satisfy the common shorthand definition of recession, which is "a fall of a country's real gross domestic product in two or more successive quarters," and has led to some confusion about the procedure for determining the starting and ending dates of a recession.
The NBER's Business Cycle Dating Committee (BCDC) uses monthly, rather than quarterly, indicators to determine peaks and troughs in business activity[1], as can be seen by noting that starting and ending dates are given by month and year, not quarters. However, controversy over the precise dates of the recession led to the characterization of the recession as the "Clinton Recession" by Republicans, if it could be traced to the final term of President Bill Clinton. A move in the recession date in a 2004 report by the Council of Economic Advisors to several months before the one given by the NBER was seen as politically motivated.[2] BCDC members suggested they would be open to revisiting the dates of the recession as newer and more definitive data became available.[3] In early 2004, NBER President Martin Feldstein said:
"It is clear that the revised data have made our original March date for the start of the recession much too late. We are still waiting for additional monthly data before making a final judgment. Until we have the additional data, we cannot make a decision."[3]
Nonetheless, as of early 2008, no further revision to the dates has been made.
Using the stock market as an unofficial benchmark, a recession would have begun in March 2000 when the NASDAQ crashed following the collapse of the Dot-com bubble. The Dow Jones Industrial Average was relatively unscathed by the NASDAQ's crash until the September 11, 2001 attacks, after which the DJIA suffered its worst one-day point loss and biggest one-week losses in history. The market rebounded, only to crash once more in the final two quarters of 2002. In the final three quarters of 2003, the market finally rebounded permanently, agreeing with the unemployment statistics that a recession defined in this way would have lasted from 2001 through 2003.
.I hope the American people dont vote on issues like this or we are in a lot of trouble in this country.IMO it a non-issue.I would hope this country istnt that stupid.
