4 Year Recovery Watch Remains On High Alert

Lies, damn lies, and statistics...

It's hard to tell without grid lines, but it looks very much to me that the difference between revenue and spending peaked in the middle of 2000, when Slick Willy was still prez. Bush didn't get elected until Nov. 2000, and didn't take office until Jan. 2001.

So, as the aforesaid Willy might intone, "It depends on what your definition of getting better is". Yes, revenue exceeded spending in the first 6 months of Bush, so in that limited sense, the fiscal situation was improving, but the trend in revenue was clearly down and the trend in spending was clearly up, which is not my idea of "getting better". The two crossed over in late 2001 (no doubt in response to 9/11, which was hardly Bush's fault, although those with BDS will disagree), and never really came close after that.

In fairness, though, the lines were MUCH closer in every year of Bush's presidency than they have been in ANY year of Bambam's.

Correction: things were 'improving' in every year of Bush's presidency until the housing-credit bubble burst. As the chart shows, spending was out of control for almost all of Dumbya's presidency. Looks eerily similar to our situation.

I have to agree with LAS here. The American economy in the 2000s was far too driven by the housing bubble and its accompanying fraud in the financial sector. Once the bubble burst, we see today just how much of that economy was truly sustainable, and that is precious little of it. Compounding the damage is the refusal by Republicans & Democrats both to prosecute the fraudsters and allow the big banks to fail, the continuing unbelievably huge deficit spending, and the Federal Reserve's treacherous behaviour in following ZIRP for so long.

The last time that the United States had a real, broad-based, hard-working and growing economy was probably in the 50s & 60s. Ever since it has eroded bit by bit at the hands of bigger government, bigger banks, and bigger special interests. The bill is coming due for all of that sloth, and it is beyond America's ability to pay.

I do not believe the American economy will survive the second term of Obama. God help us all.

As the chart shows, spending was out of control for almost all of Dumbya's presidency

Howsomever do you figure that?! Spending starts about $2 trillion, and after 8 years, is about $2.5 trillion. If the total gain in spending over 8 years is 25%, that's a 2.5% rise per year, compounded.

Meanwhile, under Bambam, spending goes from $2.5T to $3.1T (being generous), or a 24% rise in four years, which works out to 5.5% per year, compounded, or more than twice what it was under Bush.

Math's not your strong suit, is it, boy?

Facts are my strong suite. Not so much for you.

Spending in Bush’s first year (FY2001) was $1.863 trillion, thus he presided over an 83-percent increase in overall federal spending, which includes defense, domestic, entitlements, and interest. Even without TARP and Fannie/Freddie, spending was up a huge 70 percent under Bush over eight years. By contrast, total spending under eight years of President Clinton increased just 32 percent. These are the overall increases in nominal dollars.

http://www.cato.org/blog/george-w-bush-biggest-spender-lbj

Libertarians are stupid......aannnnnddddd just where is your chart for the One? Oh wait.You use a leftie org for your facts. So how is the One's 6 trillion in four years working out for ya? WITHOUT having 2 wars,rising unemployement,rising leeches on Obambam food stamps,etc.Are you using an Obambam phone to surf for this stuff?

WHAT DOES OBAMA HAVE TO DO WITH MY STATEMENTS REGARDING BUSH?

The partisan blinders are on you so tight you cannot even hear a statement about 'your guy' without reflexively coming up with a 'he did it too' counter, as if it countered my point at all.

LAS. A lot,which you will never grasp. So GWB put the states about 2 trillion in debt. Whooppee. The Zero has put the USSA into more debt in 4 years then any other country in HISTORY,including the EU/PIIGS zone.If you are going to compare,compare ALL the facts,not cherry-picking.And yeah. I had to cheery pick 1776/2012,because they have only been around as a country that long.

Not indulging your partisan tunnel-vision =/= 'cherry-picking'

You might want to take a look at the original post.

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