Forbes: The Worst Five Years Since the Great Depression

[sailingaway]

http://www.forbes.com/sites/peterferrara/2013/02/07/the-worst-five-years-since-the-great-depression/

[Zippyjuan]

From the article:

President Bush exacerbated the problem, further pumping up the housing bubble with his cheap dollar monetary policy, under the illogical, outdated, Keynesian thinking that a cheap dollar expands the economy by promoting exports.

Presidents don't set monetary policy- the Federal Reserve does.


And, no, you can’t say this time was different because it was a “financial crisis.” Every recession involves a financial crisis, and still the worse the recession the stronger the recovery. That financial crisis excuse is just boob bait propaganda for the gullible. Every other recession and recovery in America since the Great Depression has followed the above described patterns. But not this time, because Obama was busy transforming America from the most prosperous nation in the history of the world, into another banana republic.

Every recession is different from every one before it. No two are the same.


Yet, while the economy has not been growing, government spending has been booming. Federal spending has increased by 41% over the last 5 years, with total government spending at all levels increasing by nearly 27%, to an all-time high of $6.2 trillion.

The first Obama budget started in October 2009 (fiscal year starts in October)- until that point were were under a Bush presidency budget. Spending that year was $3.1 trillion. http://en.wikipedia.org/wiki/2009_United_States_federal_budget Total expenditures for 2013 fiscal year is estimated at $3.8 trillion http://en.wikipedia.org/wiki/2013_United_States_federal_budget - an increase not of 41% but of 22%. It should also be noted that all spending must originate in the House of Representatives- not the White House. They (in agreement with the Senate) are responsible for government spending.

[itshappening]

The Fed head is appointed by the president and carries out his orders . Bush wanted the illusion of a boom to get re-elected in 2004 then it all came crashing down on him