Comments on: It's Official: U.S. In Yearlong Recession

Economy Fell Into Recession In December 2007, National Bureau Of Economic Research Says

[faletinme]

Heck, we all pretty much knew the US was in for difficult economic times when Pelosi, Reid, Frank and company took over the reins in January 2007. At the time, the DOW was advancing nicely past 12,500 on its way to 14,000 but then that old Democrat poison began to take effect, the economy stalled as it always does when Dems control the Congress.

Congress, lead by Barney Frank and Chuck Schumer, pressured mortgage lenders to relax their standards so that the Democrat Populist Claim that it is EVERY Americans "RIGHT" to own a home might appear plausible.

We endured a war, needlessly prolonged by backseat Congressional haranguing as Dems fell over themselves to demonstrate their overwhelming compassion for a dozen or so guys lying on top of one another at Abu Gharib .

The Dems next parlayed the loss of 10 jobs (9 Fed Proecutors and Ms Plame) into a sidehow while they ignored the other million citizens losing THEIR jobs.

Now the democrats in congress have voted to throw a trillion or so of taxpayer money to support the very banking institutions they helped push to the brink of failure!

Get used to it folks. I warned you when you elected these clowns to congress. I warned you when you went hogwild for "unspecified CHANGE". Too bad that referred to the CHANGE that will be left in your retirement account.

PT Barnum said: "Nobody went broke underestimating the intelligence of the American public". Clearly, he was right. So quit your complaining and reap the misery you have sown, Dems!

[inventagod2]

Bu$h did it.

NeoCons helped.

Republicans aided and abetted.

[smurfcrusher]

"Posted by gce65 at 06:30 PM : Dec 01, 2008

I guess that explains why Obama back peddled on his repeal of the Bush Tax cuts and the withdrawing of the troops in Iraq."

Posted by ivotedright

Actually, Obama even today reiterated his pledge to get the troops out of Iraq in 18 months, although he will speak with top military brass first (as a reasonable person should).

And Obama has bigger fish to fry before considering a repeal of the tax gift to the wealthy, which will expire in less than two years regardless.
I guess you could say Bush successfully saddled Obama with so many problems, he has to let some of the smaller injustices fix themselves over time as he tackles the major issues.

[ivotedright]

This is George W Bush''''s mess and his alone as President. It''''s not related to Obama or Hillary Clinton or anyone else but those in the Bush administration and their poor trickle-down economic decisions that have further enriched the rich and left everyone else out in the cold.

Bush will be remembered in a light similar to Herbert Hoover in the pre-depression days, as a FAILURE.


--------------------------------------------------------------------------------

Posted by gce65 at 06:30 PM : Dec 01, 2008

I guess that explains why Obama back peddled on his repeal of the Bush Tax cuts and the withdrawing of the troops in Iraq.

[smurfcrusher]

The only reason these jerks didn''t announce this bad news on Friday (typically the ''bad news'' day because of fewer people paying attention) was so they could squeeze more money out of you on Black Friday.

Everyone should return their purchases and save your money in a mattress and hunker down. Bush and his cronies aren''t saying the "R" word, because the economy is so dire if they are honest they fear utter collapse.

They are so inept and terrified of their own mess they won''t be honest with the public. So, you should assume the absolute worst.

[smurfcrusher]

No surprise here. Just another of Bush''s "victories."

Neither Bush or his cronies like Paulson can even utter the "R" word. They''re like kindergarten kids too hapless to face reality.

No offense to any kindergarten kids out here.

[incog-nito]

This article just goes to show that the so-called "experts" really have no clue. To back-date the recession so far back is truly embarrassing, I''m surprised they decided to come out with this. One thing is consistent: if the government or the "experts" tell you something, you can be sure that things are usually a lot worse.

[ozarkbard]

I just want to know how much we''re paying these clowns to take A FULL YEAR to decide we''ve been in recession for.. well, for THE PAST YEAR!

So another year from now, are they all going to say that we''ve been in a full-blown depression that started NOW?

ANY business that takes that long to diagnose it''s own problems is doomed to fail...

And then we all look around at each other in surprise... amazing!

[stevex47]

I mean lets face it...you all knew boosh''s regime was going to end like this right?

boosh = war and economic catastrophe, world hate.

Even before 9-11, when boosh was set in place by the Supreme Court, despite the other candidate getting more votes. We all knew it would end like this.

[swingset4u]

Bury the hatchett then bury the dead! It''s over... Bush is out, Obama is in. 8 years of a moron who tried his best (which is pretty pathetic if you ask me) to deliver the "good ol'' boy" routine on America is now goin'' fishin'' Can''t wait for the S.O.B. to get his *** and get the H*E*L*L out of the White House.