Republican economics: Worst inflation in 17 years!

[top gun]

WORST INFLATION SINCE...

by Lee Ward
Published: Jul 16, 08 04:07 PM

Record gasoline and higher food prices spark inflation, leading to a 5% annual jump in the Consumer Price Index... the biggest jump since 1991.

And who was President in 1991? The former President Bush.

Bush Junior has presided over eight years of mismanagement that brought us unprecedented growth of government, the monumental waste of lives and money in Iraq, the near collapse of the US dollar against foreign currencies, tax cuts for the rich, muscle and profit protection of the oil industry, and now record-level inflation.

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

07.17.2008 2:41 pm
Bush’s statements on the economy prove he should be relegated to bystander status
St. Louis Post-Dispatch

I would rather the President suggest that continued economic stimulus is premature than have him get involved. He once promoted the stock market as a Social Security solution. His decision to help New Orleans was that late was acceptable. That a unilateral approach to invasion (notwithstanding his speechwriter’s so-called ‘Iraqi coalition of the willing’) was impossible to delay because of the immediate Iraqi danger. Time and again he’s retracted his promise to make his administrators accountable.

And his laissez faire attitude towards business helped the sub-prime lenders defend themselves with an ‘it’s only business’ attitude. His decisions are mis-informed, rash and regrettable on an international scale. I hope his failure is not one that reflects Republican ideals.

The German dictator who promoted the idea that the bigger the lie, the more his people would believe it preys upon the reasonable willingness to trust in the goodness of a leader or President. The founding fathers would have hung their heads. Just what was the King to them?

We’ve made a terrible mistake. It is time to relegate this President to bystander status. And hope for the best.

Jim Hauschultz

 

[GenSeneca]

Explain how Obama's plan for massive tax hikes and new oppressive regulation on American Citizens, American Oil Companies and American Small Business is going to make the problem better.

 

[top gun]

Explain how Obama's plan for massive tax hikes and new oppressive regulation on American Citizens, American Oil Companies and American Small Business is going to make the problem better.

Roll back Bush's tax cut for the rich putting the tax burden back where is was under Clinton that created a huge surplus.

Stop the bleeding off of up to $12,000,000,000 (twelve BILLION dollars) per month of hard earned taxpayer dollars & debt on a senseless occupation of Iraq.

Create incentives to fast track new technology outside of the oil industry that can create a countless number of new & better jobs.

Modernize the Healthcare system in a way that takes some of the burden off business while costing the individual less. Moving away from the status quo where people without insurance come to hospitals to be treated for free anyway and at the most costly place of all... the emergency room. Which then creates the burden of those losses being passed on to everyone else by their insurance premiums going up.

I could go on but you see the benefits and the positive direction...

The Republican style spiral in of a Bush/McBush type economic plan is now well documented and must be turned around... and things aren't even at their worst yet.

 

[Libsmasher]

And his laissez faire attitude towards business helped the sub-prime lenders defend themselves with an ‘it’s only business’ attitude.

Another gut-busting howler from "top gun".

 

[top gun]

Another gut-busting howler from "top gun".

I didn't write it...

 

[Pandora]

who has been in power the last two years? who has control over congress?

I admit things are harder for me now than they have been in years, its been the last year that is the worst. I can directly blame congress.

 

[GenSeneca]

Roll back Bush's tax cut for the rich putting the tax burden back where is was under Clinton that created a huge surplus.

Stop the bleeding off of up to $12,000,000,000 (twelve BILLION dollars) per month of hard earned taxpayer dollars & debt on a senseless occupation of Iraq.

Create incentives to fast track new technology outside of the oil industry that can create a countless number of new & better jobs.

Modernize the Healthcare system in a way that takes some of the burden off business while costing the individual less. Moving away from the status quo where people without insurance come to hospitals to be treated for free anyway and at the most costly place of all... the emergency room. Which then creates the burden of those losses being passed on to everyone else by their insurance premiums going up.

I could go on but you see the benefits and the positive direction...

I didn't ask you to regurgitate Obama's flowery talking points.

My question was:

How will those things REDUCE INFLATION?

Do you even know what Inflation is and how Government affects inflation? If you want to have a real discussion, that doesn't involve the need to copy and paste from Obama's website, lets begin with something simple...

You can start with how much Obama's plans will cost. Then we can look at how much money he expects to bring in... if he spends more than he brings in - we get more inflation, not less.

Washington Times:

In his attempt to appease the anti-war brigades, Mr. Obama may be overestimating the peace dividend. And in his efforts to engage in class warfare, he is demonizing businesses and wealthy individuals, who collectively bear the lion's share of the nation's tax burden.

Washington Post:

Obama's tax plan would raise income tax and investment tax levels for families earning more than $250,000, but overall, it would actually cost the Treasury money at a time when budget deficits are approaching a half trillion dollars.

Forbes:

Sadly, it's hard not to conclude that both presidential candidates seem to be weak choices for tough times. Neither McCain nor Obama show any facility with fiscal or monetary issues. Both shifted shamelessly into the middle of the road on energy and Iraq. Obama has now usurped most of Hillary Clinton initiatives.

Foolishly, Obama calls for excess profits taxes on our oil producers. There are no excess oil profits. Refining and chemicals operations fell off the cliff in the second quarter, and earnings from production are peaking after the 20% decline in oil futures.

But you probably only read Puff-Pieces from the Huffington Post:

Obama seems to be advocating what I would consider the more sound policy of organically growing both purchasing power and investment capital. The way he seems to be doing this without the federal government engaging in active monetary or fiscal policy is through wealth redistribution by tax restructuring.

I know you Lefties LOVE class warfare... pander to 4/5th's of the electorate promising to steal, legislatively, money from the top 1/5th for "redistribution" but this is another example of how whats popular is not whats right!

 

[top gun]

who has been in power the last two years? who has control over congress?

I admit things are harder for me now than they have been in years, its been the last year that is the worst. I can directly blame congress.

And yet again you show no knowledge whatsoever about our political system (that's not a bash... you're a good person).

A simple (that means slim) majority in Congress with a hostile President of the opposing Party has only the additional power to call for hearings and set the agenda for what will come to the floor... it has no power force through legislation.

The Democrats need 60 votes in the Senate to stop the Republicans from filibustering (that means holding up) important, needed legislation to help the American people. Then the Senate needs 67 votes (that's called a super majority) to override the President's veto. Even when they get the 60 votes (that would mean Republicans switched over) to send the legislation up to the President in the first place, when he sends it back vetoed the Democrats then need 67 votes to make anything happen.

But you make a GREAT point. Americans if they want the blocking & log jamming to stop need to elect not only Senator Obama but also as many Democratic Senators as possible!

 

[Federal Farmer]

Anybody who is whining about the economy today, is entirely too young, and therefore naive, to remember the 70's. DOUBLE digit interest rates, DOUBLE digit inflation, DOUBLE digit unemployment, GAS LINES and not because it was so cheap but because there WASN'T ANY!

We just went through an almost unprecedented 7 straight years of economic growth, and now that there's a "market correction" (something I've been expecting for the past 3 years), every Libtard in the country is screaming like Chicken Little.

Were my Grandparents still alive, they'd be torn between laughing and ridiculing all of this "doom and gloom" talk, because they lived and worked through the Depression. As I said, anyone who is bellyaching about the economy today doesn't have the first clue, and needs to be hooded like a falcon so that the rest of us can get some sleep.

 

[Pandora]

Anybody who is whining about the economy today, is entirely too young, and therefore naive, to remember the 70's. DOUBLE digit interest rates, DOUBLE digit inflation, DOUBLE digit unemployment, GAS LINES and not because it was so cheap but because there WASN'T ANY!

We just went through an almost unprecedented 7 straight years of economic growth, and now that there's a "market correction" (something I've been expecting for the past 3 years), every Libtard in the country is screaming like Chicken Little.

Were my Grandparents still alive, they'd be torn between laughing and ridiculing all of this "doom and gloom" talk, because they lived and worked through the Depression. As I said, anyone who is bellyaching about the economy today doesn't have the first clue, and needs to be hooded like a falcon so that the rest of us can get some sleep.

The ONLY reason they are crying like children is because a republican is in the white house. They do not like to remember those days because it was a Democrat

If The "ONE" should be able to find is way to the White House, and things go back to DOUBLE digit interest rates, DOUBLE digit inflation, DOUBLE digit unemployment, We will not be able to talk about it because that would make us racist, and besides that it wont be that bad, we all have to do our part to get our self of this BigOil.

 

[BigRob]

Roll back Bush's tax cut for the rich putting the tax burden back where is was under Clinton that created a huge surplus.

This is fine and good, except that over five years the Clinton tax's raised something like 250 Billion dollars, and Obama has already promised to increase spending per year by an additional 300+ billion.

Stop the bleeding off of up to $12,000,000,000 (twelve BILLION dollars) per month of hard earned taxpayer dollars & debt on a senseless occupation of Iraq.

No, Obama's plan is to increase spending by over a trillion, and then additionally give another trillion to the UN to fight global poverty. Explain how saving this money is going to pay for that?

Create incentives to fast track new technology outside of the oil industry that can create a countless number of new & better jobs.

By taxing companies that make big profits? Nice incentive.

Modernize the Healthcare system in a way that takes some of the burden off business while costing the individual less. Moving away from the status quo where people without insurance come to hospitals to be treated for free anyway and at the most costly place of all... the emergency room. Which then creates the burden of those losses being passed on to everyone else by their insurance premiums going up.

Takes the burden off business and places it solely on the government, who then taxes business to pay for it. The burden will not change.

I could go on but you see the benefits and the positive direction...

No, I don't.

The Republican style spiral in of a Bush/McBush type economic plan is now well documented and must be turned around... and things aren't even at their worst yet.

Perhaps we would prefer a revival of Carter's policies? How did his economy look?