How Republicans Hurt the Recovery

[one...two...tree 2,762]

Last week's surprisingly positive jobs report overshadowed another bit of good news for the economy: last November showed the biggest growth in consumer credit in 10 years. Typically that's a sign that consumer confidence is up, banks are willing to lend, and demand is on the rise.

If you look back at recent monthly data, though, you'll see that this particular green shoot should have poked through the ground months ago, but was stymied by the GOP's debt ceiling hostage drama.

Take a look at the evidence:

That's a year's worth of data. Taken in the context of the collapse of the credit bubble, it's a pretty small blip (see the right side of image below). But it's a pretty big hit to a fragile recovery. It was only by November that total consumer credit returned to where it had been before the standoff on Capitol Hill. Look at the graph and you'll see that the growth we just experienced could have come in July and August in the absence of that fight.

http://tpmdc.talking...ery.php?ref=fpb

[Mr. Big Dog 10,747]

Recovery = Good for America = Bad for Republicans

Got it?

[I AM NOT THAT GUY 5,715]

Blame it in the Republicans. I understand. Two years while they had the white house and both houses of Congress, the Democrats accomplished squat, well except for a reform of the medical delivery system that really wasn't a reform, but rather a boondoggle to the insurance companies and big pharma that has systematically exempted any company that would effected and donated to the Obama campaign in 2008. One year later, it is all the Republicans fault. Makes sense to me.

Edited January 11, 2012 by ☼

[Mr. Big Dog 10,747]

Blame it in the Republicans. I understand. Two years while they had the white house and both houses of Congress, the Democrats accomplished squat, well except for a reform of the medical delivery system that really wasn't a reform, but rather a boondoggle to the insurance companies and big pharma that has systematically exempted any company that would effected and donated to the Obama campaign in 2008. One year later, it is all the Republicans fault. Makes sense to me.

What have the Republicans contributed to halt the economic decline they've left behind and the recovery - however slow it may be - that has since been accomplished? Right. SQUAT. What is their focus and what has their focus been starting before this administration ever got into office? America? No. Economic recovery? Nope. Americans? Oh no. To make Obama a one term President? Yep, you got it. Party first. America and Americans last. That's the GOP.

Edited January 11, 2012 by Mr. Big Dog

[I AM NOT THAT GUY 5,715]

What have the Republicans contributed to halt of the economic decline and the recovery - however slow it may be? Right. SQUAT. What is their focus and what has their focus been starting before this administration ever got into office? America? No. Economic recovery? Nope. Americans? Oh no. To make Obama a one term President? Yep, you got it. Party first. America and Americans last. That's the GOP.

Give them time. It has only been one year, and it takes a while to fix the damage the Democrats caused unrestrained for two years. Remember how hard it was for Nancy and the House Democrats to collapse the economy the last two years of the Bush administration.

[Mr. Big Dog 10,747]

Give them time. It has only been one year, and it takes a while to fix the damage the Democrats caused unrestrained for two years. Remember how hard it was for Nancy and the House Democrats to collapse the economy the last two years of the Bush administration.

Funny. I think the damage was done by the time the GOP got thrown out. They have contributed nothing towards economic recovery since they gained control of the House. Haven't even tried. They did, however, stand in the way. All the way.

Edited January 11, 2012 by Mr. Big Dog

[I AM NOT THAT GUY 5,715]

Funny. I think the damage was done by the time the GOP got thrown out. They have contributed nothing towards economic recovery since they gained control of the House. Haven't even tried. They did, however, stand in the way. All the way.

I was doing pretty good, right up to August of 2008.

Before you turn around an out of control train, you got to stop it. Kudos to them for showing some intestinal fortitude.

[Mr. Big Dog 10,747]

I was doing pretty good, right up to August of 2008.

You were on the bubble they blew up just for you. And you still don't know it. Funny.

[I AM NOT THAT GUY 5,715]

You were on the bubble they blew up just for you. And you still don't know it. Funny.

You mean the Krugman bubble?

http://blog.mises.org/10153/krugman-did-cause-the-housing-bubble/

[dalegg 143]

I am actually hoping Obama gets re-elected. In order for him to get re-elected the economy and unemployment are going to have to be clearly headed in the right direction soon, and ultimately that's what I really what. Sure, he isn't going to do anything significantly positive about deficit, but neither is Romney.

[Mr. Big Dog 10,747]

I am actually hoping Obama gets re-elected. In order for him to get re-elected the economy and unemployment are going to have to be clearly headed in the right direction soon, and ultimately that's what I really what.

There you go. The GOP is approaching this precisely the other way around - they want Obama to lose re-election and know that a dismal economy is the surest way to achieve that. Hence, they have done everything they possibly can to make sure that the recovery is as slow as possible. Is that good for America and Americans? Of course not. But the country and the people are not their priority. They've stated this publicly more than once.

[웃 910]

In order to get this economy on track we need to FREEZE government spending immediately and institute the largest tax cut in America. This will ensure the fastest road to recovery in American history.