How long will it take to go from worst recession ever to "Overheated economy"

[Toots]

As happened under our last Democratic President and when was the last time, if ever, that the economy was "overheated" under a Republican Administration? I suspect within a year we will be hearing those words.

[Zynx]

1. We have a LONG way to go on that front.

[Toots]

3. I remember hearing almost exactly those same words after Clinton's first year in office.

Remember the recession that ushered in Clinton was eerily similar to the one that brought us Obama.

[Zynx]

4. This is much much much deeper.

Look at any objective measurement of it.

[Kurt_and_Hunter]

6. The Bush I recession was very shallow

[Toots]

8. You would not have heard those words at the time

In fact because of the economy, remember "it's the economy stupid" Clinton became President. Bush 1 went from 86% approval rating to 25% in only a year's time strictly on how bad the recession was at the time.

[Kurt_and_Hunter]

9. Your question is about the real economy, not perception

And the Rodney King riot and breaking the "No new taxes" pledge and the challenge from Pat Buchanan (first draft of tea-bag party) were not big helps to Bush.

A normal recession makes people unhappy. People were unhappy that the economy in 1992 was weak. No surprise there.

But if the US was able to return to the worst of the 1992 recession tomorrow it would be hailed as a miracle. That recession had unemployment levels that even optimists don't expect to see us recover to for years.

[YOY]

11. Bush I's mistake was a recession.

This is a serious clusterphuck. It's going to take longer than a year or two...and we're still defense spending like drunken sailors.

[Kurt_and_Hunter]

2. A generation

[ixion]

5. well, Clinton didn't really create the dot com bubble

so just because there was a dem in the WH (acting more like a rethug while there) that doesn't mean that were going to return to the bubble days.

It is different now, as well. The damage done is much deeper now.

[Toots]

7. The dot com bubble had not much to do with 22 million jobs created

Or inter city commerce zones, or cutting Military budget 20% or balancing the Federal Budget, by raising taxes on the wealthy and cutting them on middle income earners..

[ixion]

15. huh?

No, sir. You are incorrect. The dot com bubble had EVERYTHING to do with creating those jobs. Sorry.

[sendero]

10. Not going to happen..

... I'd worry about a grinding long-term depression-recession, sorta like Japan only a bit worse instead.

[Taitertots]

12. How long before the economy really is overheated again?

When will the government learn that when the economy is going good that they need to increase taxes, decrease spending, and pay off the debt.

Instead the government feeds the fire creating the boom and bust cycle we are seeing again.

[NNN0LHI]

17. pay off the debt?

Remember what you got last time a Democratic administration left a surplus laying around for the next Republican administration?

Two wars that will probably still be going on until after we are dead and gone. Bush raided the treasury to give huge tax breaks to millionaires. The last people that needed them. Halliburton and mercenary corporations became bigger than General Motors.

You want to leave money laying around for those crooks again? Why would you want to do that?

Don

[Taitertots]

18. Because our current fiscal policy is the definition of insanity

When the economy is going well we should be cooling it off not fanning the flames.

It is called countercyclical fiscal policy. Where we actively try to stop boom and bust cycles, instead of policy based on irrational fear of the republican policies which causes them.

[NNN0LHI]

20. Leaving money for Rethugs is like leaving crackheads in charge of a house full of cocaine

No good will come of it.

We tried it. They are the only people I know of that can turn a fiscal surplus into the mountain of debt like they did.

No, I think we had better spend it on something. Just to be on the safe side.

Don

[Taitertots]

21. Sounds like a foolish reason for opposing countercyclical policy

It is insane, we must spend it because you are worried it will get spent. What is happening in your brain that Republicans spending the money would be bad, but if we just spend it now it is good?

I'd better max my credit cards out right now, because I might get married some day and the women might run up my credit card debt.(/you)

[NNN0LHI]

22. Your example doesn't work

Because if you were to get remarried to the same woman who had once pissed away the money and ran up your credit card debt would you make that same mistake and leave her with plenty of extra cash and available easy credit once again?(/you)

Insanity is doing the same thing over and over and expecting a different result ...

Don

[Taitertots]

23. Forget the analogy

You want to spend extra money now to prevent republicans from spending it later.

The policies you advocate only pump up bubbles and cause crashes.

[TexasObserver]

13. Not before 2012.

There's a remote chance it could be said in 2012, but 2013 or 2014 seems more likely.

[DemocratSinceBirth]

14. That Would Be A High Class Problem

We will be lucky to see unemployment fall below 10% next year.

[begin_within]

16. We have to get to "irrational exuberance" first

[C_Lawyer09]

19. To make sense of economic miscues of government

It is helpful to acknowledge pitfalls of both Democratic and Republican administrations. i.e. While it was a folly of the Bush administration to lower taxes during war time, the beginning of the mortgage backed securities fiasco was created by, former Housing and urban development secretaries, Henry Cisneros and Andrew Cuomo whom encouraged, along with some members of Congress, pushed Fannie Mae and Freddie Mac to guarantee the risky loans that led to a taxpayer sting of billions. (Gasparino, The Sellout, 2009)
In this light, it is also helpful to realize (and this relates to a topic that most Democrats are not wont to mention)failures of big govt. as it pertains to consumer/investor protection. Those charged as watchdogs were malingering, as mortgaged backed securities were being given AAA+ ratings by Standard and Poor and others. Same goes for Structural Adjustment Programs(SAP)administered by the World Bank, and/or the International Monetary Fund, which in large part were responsible for the arming of the Hutu's prior to the genocide in Darfur. I say this, to end with: Efficient govt. that works, campaign finance reform, and ballot access for primary elections.