Posted on 02/24/2006 6:24:09 AM PST by Sam's Army
Oh, the humanity!
I'm pretty sure this recession began in 2000, with Bill Clinton in office.
Don't let that fact get in the way of a little revisionism.
I would feel a great deal better if Sen. Schumer stopped whining and started working to make America stronger.
Meanwhile, Senator Schumer, did you know that nearly 70% of Americans own their own homes? This is not only a national record, but a WORLD record. I'd say this statistic is an extremely good indicator of a vibrant economy.
Putz.
It did. In the last ten months of the Clinton Presidency, the NASDAQ dropped 40%. That is not a good thing.
There has to be three straight Quartly declines, so it started in 2000 but wasn't official until 2001.
Economic troubles at the time were well known, yet Clinton was not blamed. Now, with the revisionism, the recession has moved forward to 2001, and President Bush gets the blame.
Gotta hand it to the Left. They got the tricks down pat.
bump
Right you are. That charge was complete and total baloney. Notice, please, that the MSM said nothing about Mr. Kerry's remarkably negative statements about the nation's economy during the 2004 presidential race.
I didn't read the article yet, but the idea that wealth creation is harmful to the poor and middle classes, or that putting a limit on wealth creation is helpful to them, is one of the classic deceptions of socialism.
ping
It's ALL my fault.If my wife and I hadn't decided she would stay home with kids,instead of continuing working,none of this would have happened.
Continuous attempts at class warfare from these nincompoops.
George W. Bush
You got it wrong. The extreme stratification of wealth HELPS socialism to win. Wide distribution of wealth PREVENTS victory of socialism.
The only way to preserve private ownership TOGETHER with extreme stratification is to suppress freedoms and dissent in Latin American style.
You are spot on. The left believes that the pie (total wealth) is fixed and that government should cut the slices of the pie (income redistribution) to be "fair." Remember Marx:
"To each according to their needs, from each according to their ability."
The truth is that Free Enterprise fosters individual wealth creation. Efficiency is rewarded when individuals spend their money. Government is not efficient when it spends other peoples money (taxpayers). Milton Friedman points out in his book "Freedom to Choose."
I'm not positive, but I think 2 quarters of negative growth qualify. 3 is also a recession, and 4 is a depression.
Wasn't because of me. Family income went up a real 5.4% in that time and a real 9.5% from 2001 to 2006. My net worth has gone from $25,000 to $300,000 in that time period (thanks to housing prices, my 401K and stocks rapdily increasing, cash savings enabled by tax cuts, and trading in my old car for a new one). Although my own income went up a real 47% from 1998 to 2001, that increase enabled my new bride to quit working and start our family, so her income went down a real 100% that ended up being equivalent to my raise. Its amazing how wealthy you get socking away $900 a month, and buying a house at the right time.
Average family incomes, after adjusting for inflation, fell to $70,700 in 2004, a drop of 2.3 percent when compared with 2001.
The median family income, the point where half the families made more and half made less, rose a tiny 1.6 percent to $43,200 in 2004 compared with 2001.
Interesting there is such a difference in the average and median.
Oh, if only we could return to the phoney accounting standards and the pre-popped stock market bubble.
We were a lot better off then!
(rollng eyes)
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