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At what point will the economy be Obama's fault?

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DealMonkey

Lifer
Nov 25, 2001
13,136
1
0
Apparently, in the questionable judgment of asshats like Rush and Hannity, it's already his fault. Both were blaming 300-400 point drops of the DOW last week on Obama, claiming it was some sort of post-election statement by Wall Street. Nevermind the shitty Bush-era unemployment numbers that came out, etc., etc.

:roll:
 

Red Dawn

Elite Member
Jun 4, 2001
57,531
3
0
Originally posted by: NSFW
Am I right to not be surprised that things are still getting worse?
Is there a person and a group of people that are capable of making things better immediately?
 

Atreus21

Lifer
Aug 21, 2007
12,007
571
126
Originally posted by: NSFW
How long after Obama takes office will the economy be his fault? How long is the economy going to be Bush's fault and not the Obama's?
Very likely never. The economy is not at his beck and call.
 

Sinsear

Diamond Member
Jan 13, 2007
6,434
79
91
Originally posted by: Harvey
Originally posted by: Corbett

Never. For the next 4 years we will only hear how this is all Bush's fault.
That would be wrong. Long before the economic meltdown, your Traitor In Chief and his criminal gang FUBAR'd the economy for generations with their war of LIES in Iraq in which they squandered thousands of American lives and trillions of dollars of current and future debt our great grandchildren will still be paying long after we're gone from this planet.

The Bushwhackos are also directly responsible for fiscal catastrophy caused by their failure to oversee the robber barons among their wealthy Wall Street and large business contributors. They all should face criminal charges.

They brought us catastrophy piled on top of catastrophy. Without the war in Iraq, we would still have to deal with the fiasco in the business sector, but at least, we would have the resources squandered in the war to help cover the damages.

The compounded damages are so great that Obama's success can only be measured in terms of how well, how far and how quickly he and his administration are able to start reversing trail of devastation the Bushwhackos' have left in their wake. Even with the best of leadership and good luck, just breaking even will take years, if not decades. :(


I guess it's never too early to start apologizing for "your guy" eh?

 

Eeezee

Diamond Member
Jul 23, 2005
9,923
0
0
Originally posted by: Corbett
Never. For the next 4 years we will only hear how this is all Bush's fault.
It typically takes about 2-4 years for the consequences of economic decisions to really be felt.

Cheer up, that means Bush Sr actually did an okay job, things just got even better under Clinton. And then Bush Jr came along, bragged about an epic DJI, and watched the world economy crash.

It will take 2-3 years to undo most of the damage. Bush was at the helm when the economy tanked, so trying to blame it on Obama is going to be really difficult for the conservatards. After his first term it will be fair to say whether Obama's economic policies have been effective.
 

Eeezee

Diamond Member
Jul 23, 2005
9,923
0
0
Originally posted by: NSFW
Am I right to not be surprised that things are still getting worse?
Yeah, you are right to not be surprised. You'd be a fool if you thought that any single person could completely fix a broken economy in a month, or even a year.

If we're lucky, this recession will be over in only a few years. It doesn't matter who's in charge, Obama or McCain or even Ron Paul. 2-3 years will be the bare minimum. Even a basic knowledge of history and/or economics could tell you that much.
 

GuitarDaddy

Lifer
Nov 9, 2004
11,465
1
0
The only judgement period that matters is 4yrs, he will be judged by his first term.

If he is to be successful he will have to some how restore consumer confidence, trust in government, and vastly improve foriegn policy. And in his spare time he can resume confidence and trust in the financial system, and improve education and healhcare for all Americans. I don't really have a clue as to how successful he will be in ataining these goals, but I can't remember another new president that had such opportunity for epic success or failure.
 

ericlp

Diamond Member
Dec 24, 2000
6,078
187
106
It depends...

Do you Hate Bush? Then it will be Bush's fault.

Did you like him? Well, then it's Obama's fault from day one. You gotta be really hard core to still have liked the asshole at this point.
 

nullzero

Senior member
Jan 15, 2005
670
0
0
Obama will be blamed when his economic plans and supported economic plans fail to revive the economy and drive it further into the ground. I give this 4yrs....
 

Red Dawn

Elite Member
Jun 4, 2001
57,531
3
0
Originally posted by: nullzero
Obama will be blamed when his economic plans and supported economic plans fail to revive the economy and drive it further into the ground. I give this 4yrs....
Well if it's as bad or worse in 4 years it will be his responsibility as he and the American people weren't capable of pulling ourselves up by our bootstraps and fixing this mess. Of course it could be like Reagan, suffer for the first two years and pull out of it and get all the praise.

 

ProfJohn

Lifer
Jul 28, 2006
18,251
4
0
Originally posted by: dmcowen674
Originally posted by: TallBill
Originally posted by: dmcowen674
Originally posted by: rudeguy
How long after Obama takes office will the economy be his fault? How long is the economy going to be Bush's fault and not the Obama's?
Your kind have already been saying it is the Democrats fault since 2006 and Obama's fault since Tuesday.

Hell you guys have still been blaming Clinton.
Your kind have already been saying it is the Republicans fault since 2000 and Bush's fault since before Tuesday.

Hell you guys have still been blaming Reagan.

Stop using labels, they are generic.
Actually absolutely correct.

Reagon trickle down economics is pure crap, the only thing that trickles down is shit and that is what Republicans put into place ever since Reagan.

No labeling here, just the facts and the truth.
ummm we had two of the longest expansions in history following Reagan's election.
From 1982 to today we have had 25 years of growth and 3 years of recession, an insanely great record.
In the 28 years prior to that we had 5 recessions.

If his economic policies sucked so bad please explain how that happened.
 

Xavier434

Lifer
Oct 14, 2002
10,377
1
0
Problems such as these do not shift in blame. However, blame can be shared and if Obama fails then he will share the blame. That does not mean that Bush is no longer at fault for certain aspects of it though. Nothing can change history.
 

ProfJohn

Lifer
Jul 28, 2006
18,251
4
0
Here is how it will work:

The Democrats in congress will take the blame if the economy has not turned around by mid term election.

This will result in lots and lots of Republicans winning office in 2012. These Republicans, who seem to have re-found their fiscal conservative roots, will act like fiscal conservatives for a few years.

Then a Republican President will be elected and the Republicans in congress will turn into idiots again.

This will lead to Democrats regaining power again.

Repeat till the end of time.
 

CLite

Golden Member
Dec 6, 2005
1,726
7
76
I'm pretty sure no one knows what the fuck happens with the economy, it's all a guessing game and people look smart as the world in general prospers. Then shit like this crisis happens which no one forsees and it reveals the complete lack of knowledge we have regarding financial markets.

I think about the only positive steps the government can make, is increase transparacy in the backroom dealing of wallstreet, and just make sure nothing illegal is happening. In terms of stimilus/bail-outs/etc. eh.... I just think hardworking folk and increased consumer confidence will be the most important ingredients in turning this all around.

In terms of blaming Obama, well I never gave Clinton credit for the internet bubble, didn't blame bush really for the collapse of markets, and I won't blame or praise Obama if the market goes down or up. I will just respect the real important players in the economy (workers/consumers) and ignore the talking parrots on wall street.
 

CLite

Golden Member
Dec 6, 2005
1,726
7
76
Originally posted by: ProfJohn
Here is how it will work:

The Democrats in congress will take the blame if the economy has not turned around by mid term election.

This will result in lots and lots of Republicans winning office in 2012. These Republicans, who seem to have re-found their fiscal conservative roots, will act like fiscal conservatives for a few years.

Then a Republican President will be elected and the Republicans in congress will turn into idiots again.

This will lead to Democrats regaining power again.

Repeat till the end of time.
lol, you know I find a decent amount of your posts to be trolling, but I have to give props to the most accurate prediction in this entire thread. :thumbsup:

 

heyheybooboo

Diamond Member
Jun 29, 2007
6,278
0
0
Originally posted by: ProfJohn
ummm we had two of the longest expansions in history following Reagan's election.
From 1982 to today we have had 25 years of growth and 3 years of recession, an insanely great record.
In the 28 years prior to that we had 5 recessions.

If his economic policies sucked so bad please explain how that happened.
In 1980 when Raygun took office gross federal debt as a percentage of GDP had been declining since WWII and stood at 33%. By 1992 (After what even George HW Bush callled *VooDoo Economics*) gross federal debt had more than doubled to 68% of GDP.

How ironic that the final interest on Raygun's debt (30-year Bonds) was paid last year. The damage? Only $7.5 trillion in interest paid.

By the year 2000 Bubba (and the Congress) had reversed the vestiges of* VooDoo Economics* by reducing the percentage of federal debt to GDP to a level of 55% with ongoing future declines in said percentage as far as the eye could see. Folks were actually worried about the future economic impact to the country of continually reducing the federal debt in the next decade.

Dubya and the Tax Cut Congress with their renewal of *VooDoo Economics* took care of that, didn't they?

Federal debt as a percentage of GDP now stands at 79% - the highest since WWII.

Thanks for nothing, Republicans.





 

Genx87

Lifer
Apr 8, 2002
41,061
494
126
I never put a whole lot of blame or credit in a presidents hand for how an economy runs. By and large they can enact legislation that may help it along but the primary stimulus is still going to be the consumer. Which is why I think this stimulus package will be a waste o tax payers money.

I cant blame nor give too much credit to Obama for the economy. But I can acknowledge he is the President now and any decision from here on out is his and only his.
 

shadow9d9

Diamond Member
Jul 6, 2004
8,132
1
0
About 2-3 years... The economy works on a delayed basis and Obama has had 2 weeks to undo what took years of incompetence to set up.
 

Fern

Elite Member
Super Moderator
Sep 30, 2003
26,907
173
106
If he signs a record breaking (in terms of $ amount) stimulus bill, I think he's gonna start taking credit or blame a lot quicker than many would expect.

Fern
 
Dec 30, 2004
12,554
2
76
Originally posted by: NSFW
How long after Obama takes office will the economy be his fault? How long is the economy going to be Bush's fault and not the Obama's?
Forever. Obama can do no wrong. Ra ra ra!
 

rudeguy

Lifer
Dec 27, 2001
47,371
14
61
If he signs a record breaking (in terms of $ amount) stimulus bill, I think he's gonna start taking credit or blame a lot quicker than many would expect.

Fern
So the record breaking stimulus went through. He has taken credit for...umm....what exactly has he taken credit for?

Obama really does confuse me.
 

Fern

Elite Member
Super Moderator
Sep 30, 2003
26,907
173
106
So the record breaking stimulus went through. He has taken credit for...umm....what exactly has he taken credit for?

Obama really does confuse me.
Creating/saving lots of (phantom) jobs?

Fern
 

Throckmorton

Lifer
Aug 23, 2007
16,830
1
0
News flash to those who lack addition/subtraction skills... If you give money to a state/local gov, you are allowing them to preserve jobs, because they cannot run a deficit and would otherwise have to lay people off. If you fund an infrastructure project, a contractor is getting paid to do it, and paying its employees that it would otherwise have to lay off.

What is it about that that you don't understand?
 

rudeguy

Lifer
Dec 27, 2001
47,371
14
61
News flash to those who lack addition/subtraction skills... If you give money to a state/local gov, you are allowing them to preserve jobs, because they cannot run a deficit and would otherwise have to lay people off. If you fund an infrastructure project, a contractor is getting paid to do it, and paying its employees that it would otherwise have to lay off.

What is it about that that you don't understand?
His stimulus money around here was used mostly for roads. That was great. It paid for a bunch of extra construction last year. What happens this year? All that money is spent and what is going to be the long term payoff?

One of the towns around here actually had a spot on the local news because they had extra stimulus money. They were looking for projects to spend it on....they said to hurry before it was gone.

So they pumped a bunch of extra money into the economy and it did nothing for the long term. Where are all the jobs? I remember Jenny Granholm releasing a statement that the stimulus funds were going to turn Michigan around. She was sure that Obama was going to save us. Her state of the state address featured someone selling produce in a parking lot or something like that.

I'm just speaking from what I see first hand. The economy still sucks. Way too many friends and family still have no jobs. Our schools are cutting teachers and other funding. We had to cut more cops and firemen. They are cutting funding for a Coast Guard helicopter that patrols Lake Michigan.

But we are going to have health care for the millions of....er wait...we already have MI Child. Well we have better road....er....no. The roads still suck and there are still sections of the highway with barrels left over from the fall where the work wasn't finished.

At least he fixed global warming. Its cold as hell.
 

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