Once Again… Obama Bashes Bush Over Flailing Economy (Video)
Posted by Jim Hoft on Monday, August 30, 2010, 1:49 PM
Last year Barack Obama took ownership of the economy but today President Obama once again bashed George Bush for the dismal economic climate he created in the United States.
Click on Deficit Chart for Video–
Of course, not a word of that was true.
Three weeks ago the Obama Administration announced that the July deficit totaled $165 billion…
That’s more than the Bush deficit for the entire year of 2007.
During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop.
In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth.
After an unheard of record deficit last year of $1.4 Trillion the economy is on track to experience a $1.47 Trillion deficit this year.
The stock market is currently down 130 points on the day.
Related… Here’s more proof that democrats are to blame for current recession.
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Charlie Gibson commented:
Double-dip?
Never heard of it.
Mikey commented:
He can blame Bush all he wants. Doesn’t change the facts. I just laugh now. I PROUDLY wear my “Miss Me Yet?” tshirt and I live in Kalifornia – the Dems are toast in about 8 weeks. The socialism experiment has come to an end. Bye bye Dems
Historian commented:
During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to…turn the Clinton surpluses into Republican deficits.
But the Republicans will balance the federal budget if you give them one more chance…honest!
*wink*
Liberals Are Nuts commented:
There is really nothing left for the liberals to do. They can’t run on the success of their policies because they have been a failure. They won in ’06 and ’08 on bashing Bush. It’s all they can turn to. Well, that and race. It’s remarkably pathetic.
Barack Obama commented:
Somebody say double dip? I’ll have vanilla.
JR commented:
One look at this chart and the cause of the unemployment problem becomes crystal clear:
http://i32.tinypic.com/i5q0ib.jpg
Job Gains and Losses by Congressional Control
To read the chart, the chart bar columns start at zero at the beginning of each party’s control.
Multitude commented:
Double dip is all Barry’s. This FAIL’s for you.
James commented:
obama couldn’t carry President George W. Bush’s jock strap. President Bush tried to overhaul fannie mae, freddie mac and the financial sector in general in 2003 and it was defeated by the democrats. Soon after the dems took over congress in January 2007, everything slowly went downhill. Before that President Bush was performing a miracle on the economy and employment.
Lance commented:
It’s one thing when the average lib says its Bush’s fault but the “educated” media should know better. When you get into the details of the economy it’s obviously the left that likes to spend towards bankruptcy and their radicals outline it in their strategy (Cloward Piven?).
I read in the Wall Street Journal (via yahoo finance) that the P/E (price/earnings) ratio is declining. Dah! They do point out that scourge of the markets, uncertainty, but there’s more to it than that. Investors aren’t responding to good p/e’s because they know companies are inflating their earnings this year because they’ll get clobbered for them next year. As bad as it is now there’s worse to come.
The uncertainty is intentional and they’re trying to convince us that tearing down the “rich” will help our economy. Like our Constitution, they want whats left of the free markets destroyed as well. Obama won’t admit to that but his library is full of how to literature.
BarbaraS commented:
What this idiot says from day to day changes 180 degrees. He just hopes no one notices and his obamabots very likely don’t.
Denny commented:
Did anybody notice the teleprompter screw up. He was trying to act like there was an audio problem. After several starts and stops, he ended up reading from the papers on the podium.
JPL17 commented:
“Did anybody notice the teleprompter screw up.”
I sure did. AND that fact that he lied about it.
Which is a fairly sure sign that our President is no oridnay liar, but a sociopathathic liar. Only a sociopath lies about EVERYTHING, no matter how small.
Bill H commented:
Mongrelnomics has failed and Obamath cannot hide that fact.
Chisum commented:
Once In a Life Time: With God’s Will and Your Votes-updated
http://www.michellesmirror.com/2010/08/once-in-life-time-with-gods-will-and.html
Obummer commented:
My name is Obama. All I do is eat lobster and play golf, and when called upon, blame some dude named Bush for the US economy. That’s what I was hired to do. So what do you do. Nice to meet you?
Andreas K. commented:
Historian
August 30th, 2010 | 2:08 pm | #3
During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to…turn the Clinton surpluses into Republican deficits.
But the Republicans will balance the federal budget if you give them one more chance…honest!
*wink*
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Broken record kid.
Given what Bush had to deal with he actually did a decent job. Personally I think Bush was hardly the best cookie in the box, but so far his performance certainly beats the clown who’s currently in the WH.
But I know, Bush’s 500 billion deficit is totally the same as Obama’s 13 trillion hole. 100% the same, yep.
Wait, I need to smack myself on the head a few hundred times with a hammer before I believe that.
Lance commented:
@Obummer
So true but I don’t know whether to laugh or cry about it. I think I’ll march.
Truth commented:
“turn the Clinton surpluses into Republican deficits.”
Clinton surpluses??? Are you referring to the Kasich/Gingrich surpluses?
Certainly you’re aware that those budgets were written by a Republican congress.