A HISTORY AND A PATTERN OF RECESSIONS IN AMERICA

[mikekohr]

Below you can read another piece of lunacy from the extreme right wing of the political spectrum.. Charles Krauthammer who has reflexively defended the economic policies that delivered us into the second greatest economic downturn since the Republican gifted Great Depression was until the Bush administration's final days remarkably silent on the greatest run up in the national debt in US history. The national debt was 5.4 trillion when Bush took office, today it is in excess of $10 trillion. Bush simultaneously ran up the debt and ran down the economy, killing our economy and our jobs. God bless America. As the results of right-wing economic policies are crashing and burning all around us, Know-Nothing ideologues like Krauthhammer continue to spew their invective and support policies like "tinkle down economics," that have failed and failed and failed again. Following is a list of economic downturns since 1929 and the President and party in power as the downturn began:

Recession/Depression of 2008- George W. Bush (R) greatest downturn since 1929, blamed on Bush's economic policy and lack of regulation of financial markets
Recession of 2001 George W. Bush (R) began in April of 2001, -marked the beginning of greatest deficit spending in all of recorded human history-
Recession of 1992 George H.W. Bush (R) led to election of Wild Bill Clinton who produced the greatest increase in jobs and wealth in all of recorded human history
Recession of 1982 Ronald Reagan (R) at the time the most severe contraction of economy since the Great Depression, massive deficit spending/deregulation of markets
Recession of 1980 Jimmy Carter (D) shortest and least severe slow down, generally attributed to Iran Revolution and increase in oil prices, -led to election of Ronald Reagan-.
Recession of 1969-1970 Richard M. Nixon (R) credited to Nixon's escalation of and massive spending in Vietnam War and OPEC's increase in price of oil
Recession of 1960 -1961 Dwight D. Eisenhower (R) noted for high unemployment, low GDP, high inflation. JFK ended the recession by stimulating the economy 10 days after taking office
Great Depression of 1929 Herbert Hoover (R) the greatest downturn in US history, Blamed on Hoover's economic policy and lack of regulation of financial markets

There is a pattern here that is plain to all but the most partisan. And history does repeat itself. Look at the three greatest slowdowns in US economic history, 1929, 1982, 2008, all three were attributed to poor economic policies that favored the rich over working Americans, all three featured deregulation and lack of oversight of the financial markets, and all three were presided over by a Republican President.

In Know-nothing Charley Krauthhammer's article he quotes Michael Kinsley. Kingsley also had this to say:


"THE PARTY WITH THE BEST RECORD OF SERVING REPUBLICAN ECONOMIC VALUES IS THE DEMOCRATS, AND IT ISN'T EVEN CLOSE!" -Michael Kingsley-

and here are some supporting facts that back up Kingsley's statement:

1). FEDERAL SPENDING: since 1960 Republicans increased Federal Spending by 71% more than have Democrats
2). FEDERAL DEBT: since 1960 Republicans have increased the National debt by 100% more per year than have Democrats.
3). GROSS DOMESTIC PRODUCT: since 1921, adjusted for inflation, Democrats outproduce Republicans by 43% . Starting in 1940 the Democratic advantage is 23% better.
4). REAL PER CAPITA INCOME: since 1960 Democrats have outperformed Republicans by 30%. (This is perhaps the most important economic statistic of all)
5). INFLATION: since 1960, Democrats outperform Republicans 3.13% to 3.89%
6). UNEMPLOYMENT: since 1960 it decreases in an average Democratic year by 0.3% to 5.33%, and increases in average Republican year by 1.1% to 6.38%.
7). JOB CREATION: from 1945 to 2003, Democrats produced 174,200 jobs per month, Republicans have only produced 60,600 per month. Every time a Democrat succeeds a Republican, job creation soars. Every time a Republican succeeds a Democrat job creation plummets. NO EXCEPTIONS!
8). DOW JONES AVERAGE: since 1921 the DOW has increased by 52% more under Democratic administrations
9). THE BOND MARKET: since 1940 the value of 10 year Treasury bonds rose 1.2% under Democrats and fell 0.5% under Republicans



SOURCES-Bureau of Labor Statistics, Economic Policy Institute, Christian Science Monitor, The Los Angles Times,Michael Kingsley



by mike kohr

RESULTS MATTER, VOTE DEMOCRATIC!

"The truth will make you free." John 8:32


-----------------------clipped article by dead ender, Know-Nothing Charles Krauthammer------------------------------------------------


The Fierce Urgency of Pork
By Charles Krauthammer
Friday, February 6, 2009; A17

"A failure to act, and act now, will turn crisis into a catastrophe."

-- President Obama, Feb. 4.

Catastrophe, mind you. So much for the president who in his inaugural address two weeks earlier declared "we have chosen hope over fear." Until, that is, you need fear to pass a bill.

And so much for the promise to banish the money changers and influence peddlers from the temple. An ostentatious executive order banning lobbyists was immediately followed by the nomination of at least a dozen current or former lobbyists to high position. Followed by a Treasury secretary who allegedly couldn't understand the payroll tax provisions in his 1040. Followed by Tom Daschle, who had to fall on his sword according to the new Washington rule that no Cabinet can have more than one tax delinquent.

[NNN0LHI]

1. Just so we remember to never leave a surplus for Republicans we will be alright

Because they will devise a way to steal it and give it all away to their wealthy cronies with tax cuts or unwise wars or something. I would rather see it all going for welfare or any place else. Just don't leave nothing for them Republican rascals under any circumstances.

Its like leaving a junkie in a house full of heroin. Not advisable.

Don

[Hubert Flottz]

2. If you check on back you will see that it goes all the way back

to Grant!

[hootinholler]

3. That's an interesting assertion. n/t

[mikekohr]

4. You are correct!

I was spotting the first 60 years of Republican failure as ancient history but starting with the economic crash of 1873 the Republicans have an uninterupted record of 135 years of economic fubar, faiure and "F" up.

And yet they protest.

mike kohr

[BR_Parkway]

5. Republican = Recession Could fit on a bumpersticker well.

[WI_DEM]

6. You left the recession of 1973-1975 out, also there were recession in 1953 and 1957-58

http://en.wikipedia.org/wiki/List_of_recessions

[starroute]

9. Yeah, the three Eisenhower recessions

People used to say that the Republicans got us into recessions and the Democrats got us into wars -- but that stopped being true after Vietnam. Nowadays, the GOP owns them both.

And the 1974-75 recession was a real biggie -- as suggested by this Time cover from December 1974. At least in my experience, it was worse than 1982 -- an instant bummer just as we were feeling good about having gotten rid of Nixon. It was also when things started to go downhill for American workers in general, so in that sense, we've never really recovered from it.

[mikekohr]

10. Excellant link and resource

Thank You!

mike kohr

[Urban Prairie]

7. Repuglicans SUCK!!

Making the Chimp's tax cuts permanent, as advocated by conservatives, would cost an estimated 4.4 trillion in lost revenue by 2018. As evidenced by the dual recessions that occurred during his "administration", they do little or nothing to stimulate job creation that can overcome greater and higher paying job losses.

"Making the tax cuts permanent would also dramatically worsen the nation’s long-term fiscal problems. Even if the tax cuts expire or their costs are offset, the debt in 2050 would stand at 105 percent of the economy, already an alarming figure. But extending the tax cuts without paying for them would essentially double the size of the debt in 2050; debt would then stand at more than 200 percent of the economy."

http://www.cbpp.org/1-31-07tax.htm

[Quixote1818]

8. K and R. nt

[DCKit]

11. My skin crawls when Krauthammer speaks with those turtle lips.

Apparently, he's no better at writing - sniveling and hateful, small and mean.