John O'Neill said:
What world are you living in. 18 months ago we had a healthy real estate market, low unemployment, one third the national debt we have now, monitary superiority in forign markets and a sence of well being(thou not perfect)wihin the country. There is a reason that the faith in our congress is at a record low with a 11% approval rating and a president that is not far behind and it has nothing to do with Bush. You need to take heed to what is happeing to our country AND STOP BLAMING BUSH and place the blame where it belongs. Can ypu honestly say you are better off now than 18 months ago. I certainly cant.
OK, lets look at some actual stats, first from the federal labor dept.http://data.bls.gov/PDQ/servlet/SurveyOutputServlet
The lowest unemployment figures occurred during the 2 term of Pres Clinton, with unemployment reaching 4.0%
Unemployment under Pres Bush rose beginning in 2007 from 5% and climbed dramatically over 9.3% by the end of 2008 , the highest unemployment in over 20 years. So , THAT argument is false.
Real Estate Market:
2008 was the worse year for home sales in over a decade, according to the Commerce Dept in Dec of 2008.
Avg price of a homes fell by 13% Sales of newly built homes fell 2.9% from October 2008 to a pace of 407,000 units, the slowest rate in nearly 18 years. The median price of a new home sold in November 2008 was $220,400, a drop of 11.5% from the sales price a year ago and the biggest year-over-year price decline since March.
Ok, so lets call that argument a bust as well.
Debt-complicated- http://www.whitehouse.gov/omb/budget/Historicals/
Under Reagan, the debt increased by 20% ( Remember those big tax cuts, massive defense spending...sound familiar?)
Under Bush ( Senior) the debt increased another 15% ( he got hammered by being honest about a tax increase)
Under Clinton, the debt DECREASED by 10%
Under Bush Jr the debt increased by 27% ...more big tax cuts and massive defense spending on 2 wars. From 63.5 % of GDP to 85% of GDP. Thats substantial.
The important thing to remember here is that under the last administration, the wars in Iraq and Afghanistan were NOT budgetary items, they were paid for by separate spending bills. This is a tidy way of not having to account for those costs in the budget, makes the budget look more balanced than it actually was.
Obama administration is at least being honest and incorporating those costs into the budget, so yes, budgetary outlays are bigger, because of those 2 wars being accounted for in the budget now.
The fiscal budget for 2009 was mostly a Bush budget, it included the massive TARP funds for the bank bailouts.
So, no matter who got elected, McCain or Obama, they would have inherited a massive problem. And every respected economist said the only way out was for govt spending. The stock market TANKED in 2008, losing over 35% of its wealth. Credit for new investing was virtually non existent. The ONLY money available was gov spending.
So, IM not sure what world YOU were living in in 2008, but that was one very tough year for many people.